H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release April 25, 1968 The average of daily figures of total member bank reserves held during the week ended April 24, decreased a net of $544 million to $25,529 million. Estimated currency and coin of member banks increased $204 million and their reserve balances at the Federal Reserve Banks decreased $748 million. Estimated required reserves decreased $140 million; and estimated excess reserves decreased $404 million to $115 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $536 million, compared with the revised figure of $244 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $260 million in U. S. Government securities held under repurchase agreements, and $112 million in member bank borrowings, and an increase of $616 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $31 million in Federal Reserve float, and decreases of $293 million in currency in circulation, and $47 million in "Other11 deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $388 million. As of Wednesday, April 24, 1968, holdings of U. S. Government securities bought outright were $747 million lower than a week earlier, U. S. Government securities held under repurchase agreements were*$131 million lower, and member bank borrowings were $79 million higher. Outright holdings of bills decreased $776 million, and notes, and bonds increased $26 million, and $3 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Apr. 24, Apr. 17, Apr. 26, Apr. 24, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 49,927 - 25 +4,829 49,310 Held under repurchase agreements -260 - 41 Federal Agency obligations— Held under repurchase agreements Acceptances- 1 56 Bought outright 56 -- - 14 Held under repurchase agreements -- - 14 59 -- Discounts and advances— Member bank borrowings 651 -112 + 553 694 Other 15 -- 10 15 Float 1,835 + 31 + 342 1,399 Total Reserve Bank credit 52,483 -388 +5,595 51,474 Gold stock 10,484 -- -2,624 10,484 Treasury currency outstanding 6,797 - 2 + 244 6,797 69,764 -390 +3,216 68,755 Currency in circulation 46,608 -293 +2,854 46,540 Treasury cash holdings 1,124 2 - 258 1,131 Treasury deposits with F. R. Banks 1,038 +616 - 49 1,585 Foreign deposits with F. R. Banks 160 + 12 + 41 158 Other deposits with F. R. Banks 487 - 47 + 18 485 Other F. R. accounts (net) -594 + 73 -1,105 ; -585 48,821 +358 +1,500 49,314 Member bank reserves: With Federal Reserve Banks 20,943 -748 +1,716 19,441 Currency and coin (estimated) 4,586 +204 + 428 5,056 Total reserves held 25,529 -544 +2,144 24,497 Required reserves (estimated) 25,414 -140 +2,275 25,275 Excess reserves (estimated) 115 -404 - 131 -778 On April 24, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,538 million, an increase of $259 million for the week and an increase of $651 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. 24, Apr. 17, Apr. 26, 1968 1968 1967 A S S E TS Gold certificate account \J 10,128 •2,460 Cash (830) 420 + 9 + 86 Discounts and advances 709 79 + 228 Acceptances: Bought outright 56 13 Held under repurchase agreements 118 Federal Agency obligations— Held under repurchase agreements U. S. Government securities: 18 18 Bought outright-- Bills 15,731 776 +2,725 Certificates -- -- -4,352 Notes 27,246 + 26 +5,878 Bonds 6.333 + 3 16 Total bought outright 49,310 - 747 +4,235 Held under repurchase agreements -- - 131 - 290 Total U. S. Government securities 49,310 878 +3,945 Total loans and securities 50,075 - 817 +4,024 Cash items in process of collection (2,182) 8,084 -1, 298 + 673 Bank premises 113 -- + 4 Other assets 2/ 2,171 + 5 +1,280 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,012) 70,991 22_, 103 +3,607 LIABILITIES; (830) 40,938 321 +2,495 Federal Reserve notes Deposits: 19,441 -1,957 - 545 Member bank reserves 1,585 +1,086 + 745 U. S. Treasurer--general account 158 + 42 + 40 Foreign 485 42 + 21 Other 3/ 21,669 - 871 + 261 Total deposits Deferred availability cash items (2,182) 6,685 - 945 + 664 321 12 + 100 Other liabilities and accrued dividends TOTAL LIABILITIES (3,012) 69,613 -2,149 +3, 520 C A P I T AL A C C O U N TS Capital paid in 614 1 + 35 Surplus 598 -- + 28 Other capital accounts 166 - 45 + 24 Contingent liability on acceptances purchased for foreign correspondents 110 + 10 - 154 * 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.'1 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 24, 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 Agen cy obligations advancei S Acceptances Holdings Weekly changes Within 15 days 692 9 1,798 -913 16 days to 90 days 17 47 11,149 + 98 91 days to 1 year -„ -- 26,033 - 90 Over 1 year to 5 years -- -- 7,988 + 9 Over 5 years to 10 years -- 1,765 -- Over 10 years -- — 577 — Total 709 56 49,310 -896 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 24, 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) A S S E TS Gold certificate account 10,128 569 2,003 533 729 927 608 1,732 362 161 363 410 1,731 F. R. notes of other banks 830 61 267 41 53 60 115 37 22 10 19 20 125 Other cash 420 26 54 5 60 21 50 86 33 6 23 18 38 Discounts and advances 709 16 212 4 17 45 12 97 14 3 64 80 145 Acceptances: Bought outright 56 -- 56 -- -- -- -- -- -- — -- -- -- .Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements i • IL. S. Government securities: Bought outright-- Bills 15,731 814 3,963 806 1,200 1,179 834 2,552 563 314 626 673 2,207 Certificates "" -- -- -- -- -- -- -- -- -- -- .- «. «. Notes 127,246 1 ,411 6,863 1 ,396 2,079 2,041 1 ,445 4,420 974 544 1 ,085 1, 166 3,822 Bonds 6,333 328 1,595 324 484 475 336 _1,027 227 126 252 271 888 Total bought outright 149,310 2 ,553 12,421 2 ,526 3,763 3,695 2 ,615 7,999 1,764 984 1 ,963 2 ,110 6,917 Held under repurchase agreements ! -- -- -- -- -- -- -- -- -- -- . • _ «„ Total U. S. Government securities 149,310 1 2 ,553 12,421 2 ,526 3,763 3,695 2 ,615 7,999 1,764 984 1 ,963 2 ,110 6^917 Total loans and securities 50,075 2.,5 69 12,689 2 ,530 3,780 3,740 2 ,627 8,096 1,778 987 2 ,027 2 ,190 7,062 Cash items in process of collection 10,266 697 1,798 612 784 814 978 1,560 518 299 638 665 903 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 2.171 96 740 103 166 112 115 288 67 43 82 102 257 TOTAL ASSETS 74,003 4 ,021 17,561 3 ,826 5,577 5,682 4 ; , 513 11,817 2,788 1,509 3 ,170 3.4 14 10,125 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 24, 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) L I A B I L I T I ES Federal Reserve notes 41,768 2,452 9,631 2,432 3,353 3,867 2,287 7,370 1,556 733 1,553 1,416 5,118 Deposits: Member bank reserves 19,441 682 5,224 732 1,321 884 1,131 2,703 686 427 896 1,155 3,600 U. S. Treasurer--general account 1,585 80 279 55 65 128 115 176 55 46 111 153 322 Foreign 158 7 1/ 47 8 13 8 9 22 5 3 7 9 20 Other 485 1 2/447 * * 8 2 1 * 2 2 1 21 Total deposits 21,669 770 5,997 795 1,399 1,028 1,257 2,902 746 478 1,016 1,318 3,963 Deferred availability cash items 8,867 715 1,495 510 679 689 867 1,288 428 259 530 589 818 Other liabilities and accrt.le d dividends 321 17 83 17 25 24 17 51 11 7 12 14 43 TOTAL LIABILITIES 72,625 3,954 17,206 3,754 5,456 5,608 4,428 11,611 2,741 1,477 3,111 3,337 9,942 CAPITAL ACCOUNTS Capital paid in 614 30 158 32 55 32 39 90 21 14 27 35 81 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 166 8 43 8 12 11 8 29 6 4 6 8 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 74,003 4,021 17,561 3,826 5,577 5,682 4,513 11,817 2,788 1,509 3,170 3,414 10,125 Contingent liability on ace: eptances purchased for forei- gn ... correspondents 110 5 3/ 28 6 10 6 7 16 4 2 5 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F« R. notes outstanding 10,244 2,499 3,600 3,989 2,417 7,598 1,643 755 1,618 1,520 5,425 Collateral for F. R. notes: Gold certificate account 1,000 496 600 640 450 1,400 206 77 225 180 Eligible paper< U, S. Government securities 9,400 2.100 3,100 3.395 2.150 6,450 1,520 695 1.450 1,380 5,750 Total collateral 2,546 10,400 2,596 3,700 4,035 2,600 7,850 1,726 772 1,675 1,560 5,750 Jl/ After deducting $111 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 82 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis