H.4.1 Factors Affecting Reserve Balances of Depository Institutions

PSJ8& F E D E R AL R E S E R VE Factors Affecting Bank Reserves and '•rf*4LRE**V Condition Statement of F.R. Banks H.4.1 For immediate release June 13, 1968 The average of daily figures of total member bank reserves held during the week ended June 12, increased a net of $28 million to $25,367 million. Estimated currency and coin of member banks decreased $129 million and their reserve balances at the Federal Reserve Banks increased $157 million. Estimated required reserves decreased $30 million; and estimated excess reserves increased $58 million to $275 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $403 million compared with the revised figure of $542 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks was an increase of $261 million in U. S. Government securities held under repurchase agreements, and a decrease of $152 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes was a decrease of $81 million in member bank borrowings, and .increases of $252 million in currency in circulation and $72 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $249 million. As of Wednesday, June 12, 1968, holdings of U. S. Government securities bought outright were $56 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $650 million higher, and member bank borrowings were $107 million higher. Averages of daily figures Member bank reserves Week ended Change from week ended Wednesday, Reserve Bank credit, June 12, June 5, June 14, June 12, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 50,609 - 10 +5,013 50,742 Held under repurchase agreements 261 +261 + 261 650 Federal Agency obligations- Held under repurchase agreements 29 + 29 + 29 65 Acceptances- Bought outright 51 - 3 23 53 Held under repurchase agreements 26 + 26 + 26 55 Discounts and advances— Member bank borrowings 678 - 81 + 635 526 Other 13 12 13 Float 1,568 + 28 + 188 1,557 Total Reserve Bank credit 53 ,234 +249 +6,116 53 ,661 Gold stock 10, 367 - 15 -2,741 10, 367 Treasury currency outstanding 6,7 94 - 2 + 196 6 ,791 70,395 +232 +3,571 70,819 Currency in circulation 47,506 +252 +2,906 47,652 Treasury cash holdings 1,004 - 38 - 376 1,001 Treasury deposits with F. R. Banks 856 + 72 + 385 j 505 Foreign deposits with F. R. Banks 157 -152 + 26 143 Other deposits with F. R. Banks 457 - 20 + 7 453 Other F. R. accounts (net) -779 - 37 -1,388 -866 Member bank reserves: 49,200 + 75 +1,559 48,888 With Federal Reserve Banks 21,195 +157 +2,012 21,930 Currency and coin (estimated) 4,172 -129 + 142 4,753 Total reserves held 25,367 + 28 +2,154 26,683 Required reserves (estimated) 25,092 - 30 +2,234 25,254 Excess reserves (estimated) 275 + 58 80 1,429 On June 12, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,641 million, a decrease of $36 million for the week and an increase of $724 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 June 12, June June 14, '• 5, 1968 1968 1967 A S S E TS 10,025 -- -2,577 Gold certificate account 1/ Cash (543) 419 + 4 + 99 539 + 107 + 451 Discounts and advances Acceptances: 53 + 1 - 20 Bought outright 55 + 55 + 55 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements 65 i- 65 + 65 U. S. Government securities: Bought outright-- Bills 17,093 . 56 +4,133 -- -- -4,352 Certificates Notes 27,626 -- +5,988 Bonds 6,023 -- - 380 Total bought outright 50,742 + 56 +5,389 650 + 650 + 650 Held under repurchase agreements Total U. S. Government securities 51,392 + 706 +6,039 Total loans and securities 52,104 + 934 +6,590 Cash items in process of collection (1,945) 7,895 + 185 + 81 113 -- + 5 Bank premises Other assets 2/ 2,432 - 105 +1,579 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,488) 72,988 _+l, 018 +5,777 L I A B I L I T I ES Federal Reserve notes (543) 41,940 + 176 +2,662 Deposits: Member bank reserves 21,930 + 679 +2,733 U. S. Treasurer--general account 505 + 109 + 258 Foreign 143 - 21 + 1 Other 3/ 453 - 17 + 11 Total deposits 23,031 + 750 +3,003 Deferred availability cash items (1,945) 6,338 + 245 - 98 Other liabilities and accrued dividends 373 + 8 + 144 TOTAL LIABILITIES (2,488) 71,682 +1, 179 +5,711 C A P I T AL A C C O U N TS Capital paia in 615 — .. + 30 Surplus 598 -- + 28 Other capital accounts 93 161 + 8 Contingent liability n acceptances purchased 0 for foreign correspondents 119 6 241 * 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, JUNE 12, 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 obligations aaddvvaanncceess AAcccc<eg ppttaanncceess Holdings Weekly changes Within 15 days 529 68 2,882 +768 16 days to 90 days 10 40 12,809 + 24 91 days to 1 year -- «- 21,810 - 21 Over 1 year to 5 years -- -_ 7,957 -- Over 5 years to 10 years _- -- 5,421 „ Over 10 years -- -- 578 -.. Total 539 108 51,457 +771 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 12, 1968 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS , Gold certificate account 10,025 644 1,987 549 828 959 514 1,769 316 155 350 342 1,612 F. R. notes of other banks 543 29 200 17 33 50 60 27 15 9 19 14 70 Other cash 419 24 60 6 57 23 50 81 33 5 24 17 39 Discounts and advances 539 52 104 7 6 34 65 122 27 11 27 31 53 Acceptances: Bought outright 53 -- 53 -- -- -- -- -- -- -- -- -- — Held under repurchase agreements 55 -- 55 -- -- -- -- — — — — -- -- Federal Agency obligations-- Held under repurchase agreements 65 65 -- U. S. Government securities: Bought outright-- Bills 17,093 890 4,197 901 1,310 1,268 919 2,791 611 340 682 716 2,468 Certificates -- -- -- -- -- -- — -- -- -- -- -- -- Notes 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 6,023 314 1,479 317 461 447 324 984 216 120 240 252 869 ~T ~T Total bought outright 50,742 ~2~, 642 12,460 2,674 3,887 3,764 ^730 8,286 1,815 1,009 2,024 ,126 7,325 Held under repurchase agreements 650 — 650 -- -- -- -- -- — -- -- -- Total U. S. Government securities 51,392 "T, 642 "13,110 2,674 3,887 3,764 ~2 ,730 8,286 1,815 1,009 2,024 ~T0 26~ 7,325 Total loans and securities ! 52,104 2 ,694 13,387 2,681 3,893 3,798 2 ,795 8,408 1,842 1,020 2,051 2 ,157 7,378 Cash items in process of collection 9,840 596 1,678 606 706 804 893 1,656 512 319 641 544 885 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 2,432 110 792 118 194 124 134 325 76 51 95 119 294 TOTAL ASSETS | 75,476 ,100 18,114 3,979 5,716 5,766 4 ,466 12,284 2,802 1,562 3,198 3 ,202 10,287 1 4 ]7 Includes assets denominated in foreign cijirrencies 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 JUNE 12, 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 do!L iars) L I A B I L I T I ES Federal Reserve notes 42,483 2,490 9,677 2,473 3,417 3,925 2,335 7,500 1,586 751 1,600 1,455 5,274 Deposits: Member bank reserves 21,930 925 6,123 908 1,465 1,013 1,223 3,123 720 471 952 1,144 3,863 U. S. Treasurer--general account 505 26 63 17 30 39 38 54 30 17 35 40 116 Foreign 143 7 1/ 39 7 13 7 9 20 5 3 6 8 19 Other 453 2/423 1 * 9 1 2 * 1 3 1 12 Total deposits 23,031 958 6,648 933 1,508 1,068 1,271 3,199 755 492 996 1,193 4,010 Deferred availability cash items 8,283 570 1,350 485 648 678 759 1,332 404 280 532 466 779 Other liabilities and accnl ed dividends 373 19 103 19 27 26 19 58 13 9 14 15 51 TOTAL LIABILITIES 74,170 4,037 17,778 3,910 5,600 5,697 4,384 12,089 2,758 1,532 3,142 3,129 10,114 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 93 4 24 5 7 6 5 17 3 2 3 4 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75,476 4,100 18,114 3,979 5,716 5,766 4,466 12,284 2,802 1,562 3,198 3,202 10,287 Contingent liability on ace: eptances purchased for fore]-g n correspondents 119 6 3/ 31 6 11 6 7 17 4 3 5 7 16 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 2,542 10,160 2,524 3,667 4,019 2,434 7,712 1,643 774 1,658 1,554 5,528 Collateral for F. R. notes: Gold certificate account 330 1,000 475 600 640 350 1,400 206 77 — 180 Eligible paper U. S. Government securities 2,256 9,400 2,300 3,100 3,460 2,150 6,450 1,520 715 1,725 1,430 5,750 Total collateral 2,586 10,400 2,775 3,700 4,100 2,500 7,850 1,726 792 1,725 1,610 5,750 1/ After deducting $104 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit Less than $500,000. 3/ After deducting $ 88 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis