H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks f*U *£**.* H.4.1 For immediate release April 11, 1968 The average of daily figures of total -member bank reserves held during the week ended April 10, decreased a net of $15 million to $25,448 million. Esti mated currency and coin of member banks decreased $269 million and their reserve balances at the Federal Reserve Banks increased $254 million. Estimated required reserves decreased $158 million; and estimated excess reserves increased $143 million to $473 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $173 million, compared with the revised figure of $366 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $316 million in U. S. Government securities bought outright, and $181 million in Federal Reserve float, and a decrease of $71 million in "Other' deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $50 million in member bank borrowings, and an increase of $289 million in currency in circulation. Total Reserve Bank credit increased $461 million. As of Wednesday, April 10, 1968, holdings of U. S. Government securities bought outright were $122 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $499 million lower, and member bank borrowings were $335 million lower. Averages of daily figures Member bank reserves Week ended Change from week ended jWednesday, Reserve Bank credit, Apr. 10, Apr. 3, Apr. 12, Apr. 10, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 49,950 +316 +5 ,110 49,875 Held under repurchase agreements 194 + 30 + 27 Federal Agency obligations- Held under repurchase agreements 36 Acceptances- Bought outright 56 13 56 Held under repurchase agreements 63 + 20 10 52 Discounts and advances- Member bank borrowings 646 - 50 501 320 Other 15 5 15 Float 1,630 +181 167 ,811 Total Reserve Bank credit 52,564 +461 +5,801 52,129 Gold stock 10,484 -2,624 10,484 Treasury currency outstanding 6,797 + 280 _6,797 69,844 +459 +3 ,457 69/410 Currency in circulation 46 ,647 +289 +2 ,733 46 899 Treasury cash holdings 1 ,119 - 7 221 1 129 Treasury deposits with F. R. Banks 521 - 16 91 727 Foreign deposits with F. R. Banks 168 - 14 + 33 163 Other deposits with F. R. Banks 582 - 71 + 117 543 Other F. R. accounts (net) -555 + 24 -1 ,189 -556 Member bank reserves: 48,481 +205 +1 ,383 48,905 With Federal Reserve Banks 21,363 +254 +2 ,074 20,505 Currency and coin (estimated) 4,085 -269 + 212 4,645 Total reserves held 25,448 - 15 +2,286 25,150 Required reserves (estimated) 24,975 -158 +2,039 25,072 Excess reserves (estimated) 473 +143 + 247 78 On April 10, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,476 million, an increase of $99 million for the week and an increase of $756 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since April 10, April 3, April 12, 1968 1968 1967 A S S E TS Gold certificate account \J 10,131 -2,470 Cash (648 ) 421 - 10 + 94 Discounts and advances 335 - 335 - 585 Acceptances: Bought outright 56 _ _ 12 Held under repurchase agreements 52 10 4 Federal Agency obligations- Held under repurchase agreements 47 12 U. S. Government securities: Bought outright — Bills 16,326 + 122 +3,702 Certificates -- __ -4,352 Notes 27,220 -- +5,852 Bonds 6,329 -- 20 Total bought outright 49,875 + 122 +5,182 Held under repurchase agreements -- - 499 - 277 Total U. S. Government securities 49,875 377 +4,905 Total loans and securities 50,318 - 769 +4,292 Cash items in process of collection (1,710) 7,223 - 386 3 Bank premises 113 -- + 5 Other assets 2/ 2,257 + 30 +1,413 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,358) - 70,i4 •6 " 3«r -1,135 +37331 L I A B I L I T I ES (648) 41,299 352 +2,649 Federal Reserve notes Deposits: 20,505 - 984 + 468 Member bank reserves 727 + 331 + 178 U. S. Treasurer—general account 163 2 + 20 Foreign 543 84 + 73 Other 3/ Total deposits 21,938 - 739 + 739 Deferred availability cash items (1,710) 5,412 - 783 - 431 Other liabilities and accrued dividends 326 12 + 104 TOTAL LIABILITIES ] (2,358) 68,975 -1,182 +3, 061 C A P I T AL A C C O U N TS Capital paid in 613 2 + 34 Surplus 598 -- + 28 Other capital accounts 277 45 1 208 Contingent liability on acceptances purchased for foreign correspondents 99 1 145 * Figures in parentheses are the eliminations made in the consolidating process. \J Includes amount of gold certificates previously included in ''Redemption fund for F. R. notes." V Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 10, 1968 ~ (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obii gations advances Acceptances Holdings Weekly changes •— rrwr Within 15 days 318~ " 58 r556 ~ 16 days to 90 days 17 50 11,529 - 71 91 days to 1 year -- -- 26,118 + 93 Over 1 year t« 5 years -- -- 7,979 -- Over 5 years to 10 years -- -- 1,765 -- Over 10 years 577 .- Total 335 To8 49,875 -424 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 10, 1968 --••• r San New Phila Cleve Rich I St. Minne Kansas Total Boston Atlanta Chicago 1 Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,131 342 3,137 596 815 843 452 1,729 319 159 345 241 1,153 F. R. notes of other banks 648 56 237 15 39 36 102 26 15 7 20 15 80 Other cash 421 25 57 5 56 24 49 91 33 4 22 17 38 Discounts and advances 335 62 100 5 3 14 13 49 11 6 22 16 34 Acceptances: Bought outright 1 56 -- 56 -- -- -- -- -- -- -- — -- __ Held under repurchase agreements 1 52 -- 52 -- -- -- -- -- -- -- -- -- Federal Agency obligations- Held under repurchase agreements ! U. S. Government securities: i Bought outright — Bills 16,326 845 4,112 836 1,246 1,224 866 2,649 584 326 650 698 2,290 Certificates 1 -- — -- -- -- -- -- -- -- -- -- -- Notes 127,220 1 ,409 6,857 1 ,395 2,077 2,039 1 ,444 4,415 9 74 543 1 ,084 1 ,165 3,818 Bonds 6,329 328 1,594 324 483 474 336 1,027 226 126 252 271 888 Total bought outright 49,875 2 ,582 12,563 2 ,555 3,806 3,737 2 ,646 8,091 1,784 995 1 ,986 2 ,134 6,996 Held under repurchase agreements -- -- -- -- -- __ -- -- -- -- -- -- -- Total U. S. Government securities | 49.875 2 .582 12.563 2 ,555 3.806 3.737 2 .646 8.091 1.784 995 1 ,986 2 . J 34 6.996 Total loans and securities , 50,318 2 ,644 12,771 2 ,560 3,809 3,751 2 ,659 8,140 1,795 1,001 2 ,008 2 ,150 7,030 Cash items in process of collection 8,933 534 1,671 523 616 694 773 1,438 448 295 537 557 847 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 2,257 100 760 105 176 116 122 300 70 45 87 107 269 TOTAL ASSETS 72,821 3 ,704 18,643 3 ,806 5,516 5,472 4,1 77 11,742 2,688 1,514 3,0 37 3,, 096 9,426 1/ Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 10, 1968 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) X1ABI_L_ITI_E£ Federal Reserve notes 41,947 2,457 9,686 2,432 3,359 3,874 2,310 7,369 1,559 730 1,560 1,412 5,199 Deposits: Member bank reserves 20,505 678 6,213 845 1,448 939 1,081 2,873 687 484 967 1,107 3,183 U. S. Treasurer—general account 727 1 720 * * 1 1 11 1 * 1 Foreign 163 7 1/ 51 8 14 8 9 22 5 3 9 20 .Other 543 2/473 2 -- 10 2 26 * 2. 1 24 Total deposits 21,938 686 7,457 855 1,462 958 1,093 2,922 693 490 977 1,117 3,228 Deferred availability cash items 7,122 471 1,034 426 540 534 666 1,174 373 253 424 472 755 Other liabilities and accrued dividends 326 17 82 15 25 24 17 54 12 13 1A_ -£6_ TOTAL LIABILITIES 71,333 3,631 18,259 3,728 5,386 5,390 4,086 11,519 2,637 1,480 2,974 3,015 9,228 CAPITAL ACCOUNTS "Capital paid in 613 30 158 32 55 32 39 90 21 14 27 35 80 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 277 14 72 14 21 19 14 J0_ JSL -12. ^2_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,821 3,704 18,643 3,806 5,516 5.472 4.177 11.742 2,688 1,514 3,037 3,096 9,426 Contingent liability on accept ances purchased for foreign correspondents 99 3/ 26 15 13 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 43,610 2,511 10,224 2,466 3,561 3,946 2,428 7,558 1,628 752 1,614 1,507 5,415 Collateral for F, R. notes: Gold certificate account 5,604 330 1,000 496 600 640 450 1,400 206 77 225 180 Eligible paper U. S. Government securities 39,516 9916 Q,LC)() 9,100 3.JJD.0_ 3,365 2,150 6,450 1.470 685 1,450 1,380 5,750 Total collateral 45,120 2,546 10,400 2,596 3,700 4,005 2,600 7,850 1,676 762 1,675 1,560 5,750 V After deducting $112 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000. 37 After deducting $ 73 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis