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 H.4.1 For immediate release April 18, 1968 The average of daily figures of total member bank reserves held during the week ended April 17, increased $578 million to $26,046 million. Estimated currency and coin of member banks increased $279 million and their reserve balances at the Federal Reserve Banks increased $299 million. Estimated required reserves increased $498 million; and estimated excess reserves increased $80 million to $533 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $230 million, compared with the revised figure of $193 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $144 million in Federal Reserve float, and $117 million in member bank borrowings, and decreases of $112 million in "Other" F. R. accounts (net), and $99 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $254 million in currency in circulation. Total Reserve Bank credit increased $278 million. As of Wednesday, April 17, 1968, holdings of U. S. Government securities bought outright were $182 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $131 million higher, and member bank borrowings were $295 million higher. Outright holdings of bills, and bonds increased $181 million, and $1 million, respectively. Average. s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Apr. 17, Apr. 10, Apr. 19, Apr. 17, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright — System account 49,952 + 2 +5,064 50,057 Held under repurchase agreements 260 + 66 + 220 131 Federal Agency obligations-*- Held under repurchase agreements 7 2 + 6 18 Acceptances- Bought outright 56 ... ^ 11 56 Held under repurchase agreements 14 - 49 25 — Discounts and advances-- Member bank borrowings 763 +117 + 585 615 Other 15 -- 6 15 Float 1,781 +144 - 10 1,701 Total Reserve Bank credit 52,848 +278 +5,824 52,593 Gold stock 10,484 -- -2,625 10,484 Treasury currency outstanding 6,799 + 2 + 270 6,798 70,131 +280 +3,470 69,875 Currency in circulation 46,901 +254 +3,007 46,871 Treasury cash holdings 1,126 + 7 - 234 1,130 Treasury deposits with F. R. Banks 422 - 99 - 373 499 Foreign deposits with F. R. Banks 148 - 20 + 28 116 Other deposits with F. R. Banks 534 - 48 + 69 527 Other F. R. accounts(net) -667 -112 -1,173 -614 48,463 - 18 +1,322 48,529 Member bank reserves: With Federal Reserve Banks 21,668 +299 +2,148 21,347 Currency and coin (estimated) 4,378 +279 + 318 4,825 Total reserves held 26,046 +578 +2,466 26,172 Required reserves (estimated) 25,513 +498 +2,411 25,785 Excess reserves (estimated) 533 + 80 + 55 1 387 On April 17, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,279 million, a decrease of $197 million for the week and an increase of $471 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 Apr. 17, Apr- 10, |Apr. 19, 1968 1968 | 1967 A S S E TS Gold certificate account \J 10,130 •2,464 Cash (703) 411 10 + 77 Discounts and advances 630 295 + 417 Acceptances: Bought outright 56 - -. 12 Held under repurchase agreements 52 - 37 Federal Agency obligations-- Held under repurchase agreements 18 18 + 13 U. S. Government securities: Bought outright- Bills 16,507 181 +3,331 Certificates -- -4,352 Notes 27,220 -- +5,852 Bonds 6.330 1 19 Total bought outright 50,057 + 182 +4,812 Held under repurchase agreements 131 + 131 4 Total U. S. Government securities 50.188 +_ 313 +4,808 Total loans and securities 50,892 + 574 +5,189 Cash items in process of collection (2, 530) 9,331 +2, 106 +1,068 Bank premises 113 -- + 4 Other assets If 2.166 - 91 +1,301 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (3, 233) 73.043 ±2,.5 78 +5.177 L I A B I L I T I ES Federal Reserve notes (703) 41,259 40 +2,720 Deposits: Member bank reserves 21,347 + 840 +1,560 U. S. Treasurer--general account 499 - 228 - 263 Foreign 116 - 47 12 Other 3/ 527 - 16 - 101 Total deposits 22,489 + 549 +1 ,184 Deferred availability cash items (2,530) 7,630 +2, 218 +1 ,082 Other liabilities and accrued dividends 333 + 7 + 112 TOTAL LIABILITIES (3,233) 71,711 +2,734 +5,098 £ A 1 I 1 A L A C C O U N TS Capital paid in 613 + 34 Surplus 598 + 28 Other capital accounts 121 156 + 17 Contingent liability on acceptances purchased for foreign corresp_on_d_e_n_t s 100 + 1 152 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes amount of gold certificates previously included in "Redemption fund for F. R. notes." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. _ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 17, 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 Age ncy obligations advances Acceptances Holdings Weekly changes Within 15 days 613 7 2,711 +804 16 days to 90 days 17 49 11,051 -478 91 days to 1 year — .- 26,123 + 5 Over 1 year to 5 years -- „ 7,979 „ Over 5 years to 10 years -- -- 1,765 -- Over 10 years -- -- 577 -- Total 630 56 50,206 +331 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 17, 1968 San New Phila Cleve Rich St. Minne- Kansas Total Boston York delphia land mond Atlanta Chicago Louis apo lis City Dallas Fran- ________ cisco (In millions of dollars) A S S E TS Gold certificate account 10,130 625 2,278 522 814 845 566 1,715 328 159 226 254 1,798 F. R. notes of other banks 703 53 252 25 40 45 102 32 17 7 20 17 93 Other cash 411 25 54 4 57 21 49 88 32 5 23 16 37 Discounts and advances 630 27 19 10 68 9 6 285 15 16 26 44 105 Acceptances: Bought outright 56 — 56 -- — -- -- -- -- -- -- -- -- Held under repurchase agreements .. _.- -- -- -- -- -- -- -- -- -- -- - - Federal Agency obiigations-- Held under repurchase agreements 18 -- 18 -- -- U. S. Government securities: Bought outright-- Bills [16,507 855 4,158 846 1,260 1,237 875 2,678 590 330 657 706 2,315 Certificates — «._, -- -- -- -- -- -- -- -- -- -- -- Notes 27,220 | 1,409 6,857 1,395 2,077 2,039 1,444 4,415 974 543 1,084 1 ,165 3,818 Bonds j 6.330 328 1.594 324 483 475 336 1.027 226 126 252 271 888 Total bought outright 50,057 ! 2,592 12,609 2,565 3,820 3,751 2,655 8,120 1,790 999 1,993 ~2 ,142 7,021 Held under repurchase agreements 131 -- 131 -- -- -- -- -- -- -- -- -- - - Total U. S. Government securities 50,188 2.592 12,740 2,565 3,820 3,751 2,655 8,120 1,790 999 1,993 ~2 ,142 77021 Total loans and securities 50,892 2,619 12,833 2,575 3,888 3,760 2,661 8,405 1,805 "T,0 15 2,019 2 ,186 7,126 Cash items in process of collection 11,861 726 2,385 730 884 983 1,039 1,906 554 346 689 569 1,050 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 2,166 95 738 101 169 112 115 287 66 43 82 102 256 TOTAL ASSETS 76,276 4,146 18,550 3,959 5,857 5,774 4,552 12,451 2,810 1 ,578 3,077 3 ,153 10,369 1/ Includes assets denominated in fc• reign ex.i rrenciesi and IMI' gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis