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 June 6, 1968 The average of daily figures of total member bank reserves held during the week ended June 5, decreased a net of $26 million to $25,279 million. Estimated currency and coin of member banks decreased $195 million and their reserve balances at the Federal Reserve Banks increased $169 million. Estimated required reserves increased $175 million; and estimated excess reserves decreased $201 million to $169 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $590 million compared with the revised figure of $394 million the weeik before. The principal changes supplying average reserve balances with Federal Reserve Banks was an increase of $30 million in U. S. Government securities bought outright, and decreases of $300 million in "Other" Federal Reserve accounts (net), and $292 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $317 million in currency in circulation, and $144 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit increased $43 million. As of Wednesday, June 5, 1968, holdings of U. S. Government securities bought outright were $161 million higher than a week earlier, and member bank borrowings were $135 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 5, May 29, June 7, June 5, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S, Government securities-- Bought outright--System account 50,619 + 30 +4,750 50,686 Held under repurchase agreements - 84 Federal Agency obligations-- Held under repurchase agreements Acceptances-- Bought outright 54 - 2 17 52 Held under repurchase agreements — -- 30 -- Discounts and advances-- Member bank borrowings 759 - 5 + 682 419 Other 13 -- 12 13 Float 1,520 + 19 + 199 1,596 Total Reserve Bank credit 52,966 + 43 +5,488 52,766 Gold stock 10,382 - 2 -2,727 10,367 Treasury currency outstanding 6,796 + 2 + 206 6,796 70,143 + 42 +2,965 69,929 Currency in circulation 47,254 +317 +2,816 47,473 Treasury cash holdings 1,042 - 11 - 338 1,015 Treasury deposits with F. R. Banks 784 -292 + 50 396 Foreign deposits with F. R. Banks 309 +144 + 178 164 Other deposits with F. R. Banks 477 + 14 + 18 470 Other F. R. accounts (net) -742 -300 -1,577 -818 49,125 -127 +1,147 48,700 Member bank reserves: With Federal Reserve Banks 21,018 +169 +1,818 21,230 Currency and coin (estimated) 4,261 -195 + 285 4,474 Total reserves held 25,279 - 26 +2,103 25,704 Required reserves (estimated) 25,110 +175 +2,265 25,203 Excess reserves (estimated) 169 -201 - 162 501 On June 5, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,677 million, an increase of $176 million for the week and an increase of $1,017 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 dollats) . Wednesday Change since June 5, May 29, June 7, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,025 -2,584 Cash (578) 415 12 I- 97 Discounts and advances 432 135 V 342 Acceptances: Bought outright 52 21 Held under repurchase agreements 32 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright — Bills 17,037 » 161 +3,511 Certificates -- -- -4,352 Notes 27,626 __ +5,988 Bonds 6,023 -- - 380 Total bought outright 50,686 4- 161 +4,767 Held under repurchase agreements Total U. S. Government securities 50,686 **»" 161 +4.767 Total loans and securities 51,170 4- 25 +5,056 Cash items in process of collection (2,050) 7,689 4- 466 +1,044 Bank premises 113 4- 1 + 5 Other assets 2/ 2.537 ~c 362 +1.787 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,628) 71.949 +__ 841_ +5.405 L I A B I L I T I ES Federal Reserve notes (578) 41,764 4- 215 4-2,549 Deposits* Member bank reserves 21,230 + 788 +1,887 U. S. Treasurer—general account 396 - 554 31 Foreign 164 - 27 + 34 Other 3/ 470 + 11 + 13 Total deposits 22,260 + 218 +1,903 Deferred availability cash items (2,050) 6,093 + 336 + 715 Other liabilities and accrued dividends 365 + 23 + 127 TOTAL LIABILITIES (2,628) 70,482 + 792 +5,294 C A P I T AL A C C O U N TS Capital paid in 615 + 32 mm m* Surplus 598 -- + 28 Other capital accounts 254 -'- 49 + 51 Contingent liability on acceptances purchased for foreign correspondents 125 - 7 - 230 * 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 M i P M A ^ o s U. MTURITY JDISTRPUTIONOF (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 obligations advances Acceptances Holdings Weekly changes Within 15 days 429 15 2,114 -349 16 days to 90 days 3 37 12,785 +423 91 days to 1 year 21,831 + 87 Over 1 year to 5 years 7,957 -- Over 5 years to 10 years 5,421 -- Over 10 years 578 -- Total 432 52 50,686 +161 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 JUNE 5, 1968 _ San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS | Gold certificate account 10,025 552 2,870 479 791 858 474 1,762 268 166 277 231 1,297 F. R. notes of other banks 578 34 203 20 37 49 69 28 17 10 21 18 72 Other cash 415| 25 53 5 57 24 50 83 31 6 23 17 41 Discounts and advances 432 39 51 9 2 37 59 97 16 18 13 57 34 Acceptances: Bought outright 52 -- 52 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- — -- -- -- .. -- -- -- -- _. Federal Agency obligations-- Held under repurchase agreements -- -- -- -- -- -- — -- -- U. S. Government securities: Bought outright-- Bills 17,037 887 4,183 898 1,305 1,263 916 2,782 610 339 680 714 2,460 Certificates -- -- -- -- — -- -- -- -- -- -- -- -- Notes i 27,626 1, 438 6,784 1,456 2,116 2,049 1 ,487 4,511 988 549 1,102 1 ,158 3,988 Bonds 1 6.023 314 1,479 317 461 447 "T 3 24 984 216 120 240 252 869 ~T Total bought outright 50,686 ,639 12,446 2,671 3,882 3,759 ,727 8,277 1,814 1,008 2,022 ~1 ,124 7,317 Held under repurchase agreements -- -- -- -- -- -- T -- -- -- -- -- -- -- ~T Total U. S. Government securities 50,686 ~2 ,639 12,446 2,671 3,882 3,759 ' ,727 8,277 1,814 1,008 2,022 ,124 7,317 Total loans and securities 51,170 2 ,678 12,549 2,680 3,884 3,796 2 ,786 8,374 1,830 1,026 2,035 2 ,181 7,351 Cash items in process of collection 9,739 608 1,717 587 700 869 824 1,625 469 315 597 560 868 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 2,537 115 818 125 205 129 141 341 79 52 100 126 306 TOTAL ASSETS 74,577 4 ,015 18,220 3,898 5,679 5,733 4 ,364 12,231 2,702 1,578 3,071 3 ,142 9,944 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 CONDITIION OF EACH FEDERAL RESERVE BANK ON JUNE 5, 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 42.342 2,479 9,674 2,463 3,400 3,909 2,317 7,473 1,579 746 1,591 1,441 5,270 Deposits: Member bank reserves 21,230 856 5,863 856 1,484 1,010 1,193 3,122 683 526 913 1,116 3,608 U. S. Treasurer--general account 396 1 389 1 1 1 * * 1 2 Foreign 164 8 1/ 45 9 14 8 10 23 6 4 7 9 21 Other 470 2/428 9 2 2 3 2 24 Total deposits 22,260 865 6,725 866 1,499 1,028 1,205 3,147 689 531 923 1,127 3,655 Deferred availability cash items 8,143 581 1,349 474 625 689 732 1,333 371 260 480 478 771 Other liabilities and accril ed dividends 365 19 94 18 28 26 19 58 13 8 15 15 52 TOTAL LIABILITIES 73,110 3,944 17,842 3,821 5,552 5,652 4,273 12,011 2,652 1,545 3,009 3,061 9,748 CAPITAL ACCOUNTS Capital paid in 615 30 158 32 55 32 39 91 21 14 27 35 81 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 254 12 66 13 18 18 14 42 9 5 9 12 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 74,577 1 4,015 18,220 3,898 5,679 5,733 4,364 12,231 2,702 1,578 3,071 3,142 9,944 Contingent liability on ace: eptances purchased for foreiL gn correspondents 125__ 6 3/ 32_ 7 11 7 8_ 18 4 3 6 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,534 10,180 2,525 3,658 4,009 2,411 7,702 1,644 761 1,652 1,544 5,490 Collateral for F. R. notes: Gold certificate account 330 1,000 475 600 640 350 1,400 206 77 225 180 Eligible paper U. S. Government securities 2.256 9.400 2.100 3.100 3.425 2.150 6.450 1.520 715 1.450 1.430 5.750 Total collateral 2,586 10,400 2,575 3,700 4,065 2,500 7,850 1,726 792 1,675 1,610 5,750 1/ After deducting $119 million participations of other Federal Reserve Banks. 2J Includes IMF gold deposit. Less than $500,000. 3/ After deducting $ 93 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis