H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••ii'Sffili F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release July 11, 1968 The average of daily figures of total member bank reserves held during the week ended July 10, decreased a net of $110 million to $25,722 million. Estimated currency and coin of member banks decreased $273 million and their reserve balances at the Federal Reserve Banks increased $163 million. Estimated required reserves decreased $246 million; and estimated excess reserves increased $136 million to $321 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $93 million, compared with the revised figure of $308 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $134 million in Federal Reserve float, and $75 million in U. S. Government securities held under repurchase agreements, and decreases of $256 million in "Other" F. R. accounts (net), and $212 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $81 million in member bank borrowings, and an increase of $470 million in currency in circulation. Total Reserve Bank credit increased $83 million As of Wednesday, July 10, 1968, holdings of U. S. Government securities bought outright were $192 million lower than a week earlier, and member bank borrowings were $142 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 10, July 3, July 12, July 10, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 52,203 - 14 +5,102 52,038 Held under repurchase agreements 75 + 75 + 23 -- Federal Agency obligations- Held under repurchase agreements 4 + 4 1 — Acceptances- Bought outright 58 - 1 • 36 58 Held under repurchase agreements 8 - 35 58 -- Discounts and advances- Member bank borrowings 412 - 81 + 343 350 Other 13 -- + 8 13 Float 1,965 +134 + 261 1,692 Total Reserve Bank credit 54,739 + 83 +5,642 54,151 Gold stock 10,367 -- -2,743 10,367 Treasury currency outstanding 6,571 + 4 - 39 6,573 71,677 + 87 +2,860 71,091 Currency in circulation 48,114 +470 +2,861 48,228 Treasury cash holdings 837 - 43 - 642 833 Treasury deposits with F. R. Banks 903 -212 - 170 897 Foreign deposits with F. R. Banks 181 - 4 + 47 155 Other deposits with F. R. Banks 490 - 32 + 3 466 Other F. R. accounts (net) -392 -256 - 862 -535 50,133 - 76 +1,237 50,044 Member bank reserves: With Federal Reserve Banks 21,543 +163 +1,622 21,047 Currency and coin (estimated) 4,181 -271 + 36 ! 4,£68 Total reserves held 25,724 -108 +1,658 1 25,915 Required reserves (estimated) 25,405 -242 +1,982 i 25,386 Excess reserves (estimated) 319 +134 - 324 1 529 On July 10, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,590 million, an increase of $160 million for the week and an increase of $123 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 July 10, July 3, July 12, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,025 •2,580 Cash (559) 402 17 + 103 Discounts and advances 363 142 + 287 Acceptances: Bought outright 58 33 Held under repurchase agreements 66 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 18,188 192 +4,056 Certificates -4,353 Notes 27,746 +6,009 Bonds 6,104 - .434 Total bought outright 52,038 192 +5,278 Held under repurchase agreements Total U. S. Government securities 52.038 192 +5.278 Total loans and securities 52,459 334 +5,466 Cash items in process of collection (1,888) 7,849 836 + 171 Bank premises 114 + 5 Other assets 2/ 2.296 178 +1.286 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,447) 73.145 •1.009 +4.451 L I A B I L I T I ES Federal Reserve notes (559) 42,548 + 139 +2,580 Deposits: Member bank reserves 21,047 60 +1,664 U. S. Treasurer--general account 897 - 251 - 278 Foreign 155 - 106 + 20 Other 3/ 466 z 5! z 21 Total deposits 22,565 476 +1,379 Deferred availability cash items (1,888) 6,157 708 + 96 Other liabilities and accrued dividends 262. ±_12X TOTAL LIABILITIES (2,447) 71,637 -1,059 +4,176 £ A 1 11 AL A C C O U N TS Capital paid in 617 + 31 Surplus 598 + 28 Other capital accounts 293 50 + 216 Contingent liability on acceptances purchased for foreign ^c orrespondents 106 - 3 - 258 * Figures in parentheses are the eliminations made in the consolidating process. If 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, JULY 10, 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 obl igations advances Acee ptances Holdings Week ly changes Within 15 days 346 11 2,070 -182 16 days to 90 days 17 47 13,459 + 18 91 days to 1 year -- • - 22,714 - 28 Over 1 year to 5 years -- -- 7,737 .- Over 5 years to 10 years -- „ 5,470 -- Over 10 years «. -- 588 -. Total 363 58 52,038 •192 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 JULY 10, 1968 . u New Phila Cleve Rich St. Minne Kansas San 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 10,025 468 2,301 575 753 868 586 1,748 416 167 318 277 1,548 F. R, notes of other banks 559 26 178 28 32 60 60 28 17 15 16 21 78 Other cash 402 23 52 4 52 24 49 80 32 5 24 18 39 Discounts and advances 363 27 115 12 2 18 12 104 9 5 19 27 13 Acceptances: Bought outright 58 -- 58 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Federal Agency obligations- Held under repurchase agreements 1 U. S« Government securities: Bought outright— Bills 18,188 978 4,529 945 1,429 1,347 986 2,932 640 359 717 777 2,549 Certificates -- -- -- — -- -- -- -- -- -- -- " Notes 27,746 1 ,491 6,909 1 ,442 2,180 2,055 1 ,503 4,472 977 548 1 ,095 1 ,186 3,888 Bonds 6,104 328 1,520 317 479 452 331 984 215 121 241 261 855 Total bought outright 52,038 \~2 ,797 12,958 ~2 ,704 4,088 3,854 ~T, 820 8,388 1,832 ~T, 028 ~2 ,053 T ,224 7,292 Held under repurchase agreements -- -- -- -- -- -- -- -- --. .- _- - - ~~ Total U. S. Government securities 52.03r [T. 797 12.958 ~~2. 704 4.088 3.854 ~T. 820 8.388 1.832 "T. 028 ~2~ .053 "T.2 24 7.292 Total loans and securities 52,459 2 ,824 13,131 2 ,716 4,090 3,872 2 ,832 8,492 1,841 1 ,033 2 ,072 2 ,251 7,305 Cash items in process of collection ! 9,737 607 1,707 568 696 780 875 1,571 518 329 684 545 857 Bank premises 114 3 10 2 5 9 20 18 8 3 18 9 9 Other assets jl/ 2,296 104 759 110 180 120 135 306 71 47 88 110 276 TOTAL ASSETS 75,592 4 ,055 18,138 4 ,003 5,808 5,733 4 ,547 12,243 2,903 1 ,599 3,2 20 3 ,231 10,112 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 JULY 10, 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 43,107 2,542 9,768 2,517 3,471 3,985 2,384 7,636 1,610 757 1,623 1,481 5,333 Deposits: Member bank reserves 21,047 812 6,008 844 1,481 903 1,199 2,915 763 482 904 1,147 3,589 U. S. Treasurer—general account 897 31 178 64 77 60 94 58 44 46 57 44 144 Foreign 155 7 1/ 54 7 12 7 8 20 5 3 6 8 18 Other 466 -- 1/427 1 -- 11 2 2 __ -- 3 1 19 Total deposits 22,565 850 6,667 916 1,570 981 1,303 2,995 812 531 970 1,200 3,770 Deferred availability cash items 8,045 569 1,226 471 608 656 748 1,326 416 268 549 453 755 Other liabilities and accrued dividends 367 20 91 20 28 27 20 58 13 9 15 16 50 TOTAL LIABILITIES 74,084 3,981 17,752 3,924 5,677 5,649 i4 ,455 12,015 2,851 1,565 3,157 3,150 9,908 CAPITAL ACCOUNTS Capital paid in 617 30 158 32 55 32 39 92 21 14 27 35 82 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 ^)ther capital accounts 293 15 74 15 22 21 15 49 11 6 10 12 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75,592 4,055 18,138 4,003 JLi§PJL„ 5,733 4,547 12,243 2,903 1,599 3,220 3,231 10,112 Contingent liability on ace: eptances purchased for foreign correspondents 106 5 3/ 27 6 10 5 7 15 4 2 5 6 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,595 10,205 2,567 3,695 4,102 2,490 7,863 1,681 782 1,677 1,590 5,602 Collateral for F. R. notes: Gold certificate account 330 1,000 475 600 640 350 1,000 206 77 180 Eligible paper U. S. Government securities 2.281 9,400 2,300 3,200 3,500 2,200 7,150 1,520 715 1,725 1.480 5,750 Total collateral 2,611 10,400 2,775 3,800 4,140 2,550 8,150 1,726 792 1,725 1,660 5,750 1/ After deducting $101 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 79 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis