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 June 27, 1968 The average of daily figures of total member bank reserves held during the week ended June 26, increased $597 million to $26,182 million. Estimated currency and coin of member banks increased $111 million and their reserve balances at the Federal Reserve Banks increased $486 million. Estimated required reserves increased $340 million; and estimated excess reserves increased $257 million to $518 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $289 million compared Ttfith the revised figure of $403 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $947 million in U. S. Government securities bought outright, and $143 million in member bank borrowings, and a decrease of $134 million in currency in circulation. The principal offsetting change was a decrease of $83 million in Federal Reserve float, and an increase of $728 million in "Other" Federal Reserve accounts (net). Total Reserve Bank credit increased $1,141 million. As of Wednesday, June 26, 1968, holdings of U. S. Government securities bought outright were $382 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $41 million lower, and member bank borrowings were $1,540 million lower. Outright holdings of bills, notes, and bonds increased $275 million, $75 million, and $32 million, respectively. Averagei s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 26, June 19, j June 28, June 26, and related items 1968 1968 1 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 51,797 + 947 +5,873 51,879 Held under repurchase agreements 146 + 38 + 130 97 Federal Agency obiigations-- Held under repurchase agreements 66 + 51 + 66 56 Acceptances-- Bought outright 53 + 1 27 58 Held under repurchase agreements 65 + 42 + 17 71 Discounts and advances-- Member bank borrowings 807 + 143 + 666 399 Other 13 -- 11 13 Float 1,729 - 83 + 321 1,627 Total Reserve Bank credit 54,678 +1, 141 +7,036 54,200 Gold stock 10,367 -- -2,741 10,367 Treasury currency outstanding 6,722 - 60 + 112 6,582 71,767 +1, 081 +4,407 71,149 Currency in circulation 47,440 - 134 +2,866 47,493 Treasury cash holdings 947 - 35 - 431 905 Treasury deposits with F. R. Banks 1,063 - 9 + 95 1,017 Foreign deposits with F. R. Banks 161 + 15 + 35 198 Other deposits with F. R. Banks 481 + 30 9 496 Other F. R. accounts (net) 13 + 728 - 517 5 50,105 + 595 +2,038 50,114 Member bank reserves: With Federal Reserve Banks 21,662 + 486 +2,369 , 21,035 Currency and coin (estimated) 4,520 + 111 + 266 5,000 Total reserves held 26,182 + 597 +2,635 26,035 Required reserves (estimated) 25,664 + 340 +2,548 1 25,667 Excess reserves (estimated) 518 + 257 + 87 1 368 On June 26, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,113 million, a decrease of $244 million for the week and an increase of $332 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) CONSOLIDATE!) STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since June 26, June 19, June 28, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,025 -2,568 Cash (623) 429 -f 105 Discounts and advances 412 -1,540 + 284 Acceptances: Bought outright 58 + 5 28 Held under repurchase agreements 71 21 + 25 Federal Agency obligations- Held under repurchase agreements 56 8 56 U. S. Government securities: Bought outright-- Bills 18,123 + 275 +4,511 Certificates -- -- -4,353 Notes 27,701 + 75 +5,999 Bonds 6.055 + 32 - 456 Total bought outright 51,879 + 382 +5,701 Held under repurchase agreements 97 - 41 + 97 Total U. S. Government securities 51,976 + 341 +5,798 Total loans and securities 52,573 -1, 181 +6,135 Cash items in process of collection (2,154) 7,997 - 887 +1,044 Bank premises 113 -- + 4 Other assets 2/ 1.671 + 37 + 665 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,777) 72.308 zl .031 +5.385 L I A B I L I T I ES Federal Reserve notes (623) 41,903 +2,552 Deposits: Member bank reserves 21,035 -1,272 +2,034 U. S, Treasurer—general account 1,017 - 160 - 198 Foreign 198 + 38 + 71 Other 3/ (3) 496 + 37 + 41 Total deposits (3) 22,746 -1,357 +1,948 Deferred availability cash items (2,151) 6,370 - 734 + 648 Other liabilities and accrued dividends 380 + 8 + 136 TOTAL LIABILITIES (2,777) 71,399 -2,081 +5,284 C A P I T AL A C C O U N TS Capital paid in 617 1 + 32 Surplus 598 + 28 Other capital accounts 194 49 + 41 Contingent liability on acceptances purchased for foreign correspondents 114 1 267 * 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 26, 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 obij gations advances Acee ptances Holdings Week lv changes Within 15 days 394 ~79 2,748 +561 16 days to 90 days 18 50 13,006 -475 91 days to 1 year — -- 22,545 +162 Over 1 year to 5 years -- -- 7,698 + 49 Over 5 years to 10 years -- 5,453 + 32 Over 10 years -- -- 582 + 4 Total 412 129 52,032 +333 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 26, 1968 San New Phila Cleve Rich St. Minne Kansas Total jB oston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,025 782 2,321 542 839 873 551 1,642 287 152 317 355 1,364 F. R. notes of other banks 623 36 202 26 40 57 67 29 23 12 20 22 89 Other cash 429 24 64 6 54 26 50 86 32 5 24 18 40 Discounts and advances 412 22 81 5 6 21 31 138 33 16 19 15 25 Acceptances: Bought outright 58 — 58 — -- -- -- -- -- -- -- -- -- Held under repurchase agreements 71 -- 71 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements 56 56 U. S. Government securities: Bought outright-- Bills 18,123 944 4,450 955 1,388 1,344 975 2,960 648 361 723 759 2,616 Certificates -- -- -- -- -- -- -- -- -- -- -- -- - - Notes ! 27,701 1 ,442 6,802 1 ,460 2,122 2,055 1 ,490 4,524 991 551 1 ,105 1 ,160 3,999 Bonds 6,055 315 1,487 319 464 449 326 988 217 120 242 254 874 Total bought outright 51,879 1 2 ,701 12,739 2 ,734 3,974 3,848 2 ,791 8,472 1,856 1,032 2 ,070 2 ,173 7,489 Held under repurchase agreements 97 -- 97 -- -- -- -- -- -- -- -- - - Total U. S. Government securities .51. d_l 6I . 2 ,701 .JJL.836 _ _2 ,734 _3^974_ 3,848 ,Z91„. 8,472 1,856 1,032 2 ,070 2 .173 7.489 Total loans and securities 52,573 2 ,723 13,102 2 ,739 3,980 3,869 2 ,822 8,610 1,889 1,048 2 ,089 2 ,188 7,514 Cash items in process of collection 10,151 647 1,759 608 751 792 922 1,646 483 330 721 588 904 Bank premises 113 3 10 2 5 8 20 18 8 3 18 9 9 Other assets 1/ 1,671 73 594 79 126 85 86 215 50 34 61 75 193 TOTAL ASSETS 75,585 4 ,288 18,052 4 ,002 5,795 5,710 4., 518 12,246 2,772 1,584 3.,2 50 3 ,255 10,113 17 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 JUNE 26, 1968 . • wnMnrni. >.i^tnurtwi». .. • ; 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 42,526 2,504 9,685 2,484 3,418 3,952 2,337 7,519 1,586 750 1,600 1,452 5,239 Deposits: Metafeer bank reserves 21,035 1,009 5,748 819 1,467 919 1,169 2,974 692 489 912 1,137 3,700 U, S. Treasurer--general account 1,017 67 220 92 81 63 98 73 39 17 61 93 113 Foreign 198 9 1/ 61 10 17 10 12 27 6 4 8 10 24 Other 499 «.*. 2/468 1 ..'- 6 1 2 1 2 3 1 14 Totftl cteposits 22,749 1,085 6,497 922 1,565 998 1,280 3,076 738 512 984 1,241 3,851 Deferred availability cash items 8,521 612 1,405 504 660 658 793 1,381 387 283 591 469 778 Other liabilities and accrued dividends 380 19 104 18 28 26 20 58 13 7 15 16 56 TOTAL LIABILITIES 74,176 4,220 17,691 3,928 5,671 5,634 4,430 12,034 2,724 1,552 3,190 3,178 9,924 CAPITAL ACCOUNTS Capital paid in 617 ! 30 158 32 55 32 39 92 21 14 27 35 82 Surplus 598 i 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts i 194 9 49 10 15 13 11 33 7 4 7 8 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75,585 4,288 18,052 4,002 5,795 5,710 4,518 12,246 2.772 1.584 3.250 3.255 .1;0 413 «.. Contingent liability on accept ances purchased for foreign correspondents 114 6 3/ 29 6 10 6 7 17 4 3 5 6 15 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 44,393 2,568 10,169 2,530 3,658 4,051 2,457 7,755 1,664 778 1,670 1,574 5,519 Collateral for F. R. notes: Gold certificate account 5,258 330 1,000 475 600 640 350 1,400 206 77 180 Eligible paper U. S. Government securities 40,256 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 45,514 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 $137 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 37 After deducting $ 85 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis