H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E — i^' .' Factors Affecting Bank Reserves anfrUBLIC up.Va.o v’ Condition Statement of F.R. Banks H.4.1 For Immediate release July 25, 1968 The average of daily figures of total member bank reserves held during 1 the week ended July 24, increased a net of $223 million to $26,227 million. I Estimated currency and coin of member banks decreased $69 million and their reserve balances at the Federal Reserve Banks increased $292 million. Estimated required reserves increased $167 million; and estimated excess reserves increased $56 million to $332 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $307 million, compared with the revised figure of ! $194 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $169 million in member bank borrowings, and $95 | million in Federal Reserve float, and decreases of $255 million in currency in circulation, and $108 million in Treasury deposits with Federal Reserve Banks. | The principal offsetting changes were a decrease of $104 million in U. S. Government r securities held under repurchase agreements, and an increase of $242 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $155 million. As of Wednesday, July 24, 1968, holdings of U. S. Government securities ! bought outright were $65 million lower than a week earlier, U. S. Government I securities held under repurchase agreements were $349 million lower, and member bank borrowings were $156 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 24, July 17, July 26, July 24, — end related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 51,904 + 14 +5,189 51,904 Held under repurchase agreements -- -104 -- -- Federal Agency obligations-- Held under repurchase agreements Acceptances-- Bought outright 57 - 1 22 58 Held under repurchase agreements -- - 18 -- -- Discounts and advances-- Meraber bank borrowings 639 +169 + 585 7*2 Other 13 - 1 + 13 13 Float 2,008 + 95 + 376 1,739 Total Reserve Bank credit 54,622 +155 +6,143 54,466 p * stock 10,367 — -2,742 10,367 r®asury currency outstanding 6,561 - 13 55 6 ? 563 71,550 +142 +3,346 71,396 !jUrrency in circulation 47,849 -255 +2,985 47,848 reasury cash holdings 838 + 7 - 647 839 pt6asury deposits with F. R. Banks 998 -108 - 190 973 A°teign deposits with F. R. Banks 142 - 13 + 26 165 ^ber deposits with F. R. Banks 448 - 22 20 459 utber f. R. accounts (net) -420 +242 - 788 -421 49,854 -150 +1,366 49,863 6ttlber bank reserves: ^ith Federal Reserve Banks 21,696 +292 +1,980 21,533 ^rency and coin (estimated) 4,531 - 69 + 226 5,020 Total reserves held 26,227 +223 +2,206 26,553 Squired reserves (estimated) 25,895 +167 +2,306 26,030 Rkcess reserves (estimated) 332 + 56 - 100 523 p On July 24, 1968, U. S. Government securities held in custody by the .^eral Reserve Banks for foreign account were $7,332 million, a decrease of ^ million for the week and a decrease of $120 million from the comparable date 9 Vear ago. Digitiz1ed 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 Wednesday Change since July 24, July 17, July 26, 1968 1968 1967 A S S E T S Gold certificate account 1/ 10,025 -- -2,569 I Cash (718) 375 17 + 47 Discounts and advances 765 - 156 + 643 Acceptances: Bought outright 58 _ _ 23 Held under repurchase agreements 77 Federal Agency obligations-- Held under repurchase agreements S. Government securities: Bought outright-- Bills 18,054 65 +3,828 Certificates -- -- -4,353 Notes 27,746 -- +6,009 Bonds 6,104 -- - 434 Total bought outright 51,904 65 +5,050 Held under repurchase agreements - - - 349 • jl U. S. Government securities 51.904 - 414 +5.050 | loans and securities 52,727 - 647 +5,670 I ^ash items in process of collection (2,124) 7,750 -1,542 + 704 premises 114 -- + 5 ^her assets 1) 2.058 40 + 880 total assets/liabilities & capital accounts (2,842) 73,049 -2.246 +4.737 l i a b i l i t i e s ederal Reserve notes 42,157 - 220 +2,572 °ePosits: Member bank reserves 21,533 - 980 +1,657 S. Treasurer--general account 973 + 4 - 351 Foreign 165 + 30 + 68 ^ther 3/ (9) 459 21 7 j) Iptal deposits (9) 23,130 - 967 +1,367 eierred availability cash items (2,115) 6,011 -1,092 + 593 aet liabilities and accrued dividends 350 13 + 109 total liabilities 71,648 -2,292 +4,641 c C A P I T A L A C C O U N T S „aPital paid in 617 + 31 598 -- + 28 o > lus q ler capital accounts 186 + 46 + 37 0tlUngent liability on acceptances purchased ^foreign correspondents 115 + 10 - 224 , Figures in parentheses are the eliminations made in the consolidating process. - " includes amount of gold certificates previously included in "Redemption fund for F. R. notes." includes assets denominated in foreign currencies and IMF gold deposited. ^.-includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 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 Agency obligations ty. ___advances 15 days 751 16 2,673 -394 g, days to 90 days 14 42 12,858 + 4 ; 0 days to 1 year -- -- 22,578 - 24 q r 1 year to 5 years -- -- 7,737 -r'v ' 5 yyeeaarrss ttoo 10 years -- -- 5,470 -v io years -- -- 588 -- Val 765 58 51,904 -414 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 24, 1968 ------i 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 T S * Gold certificate account 10,025 540 2,610 556 769 915 444 1,702 375 157 340 170 1,447 F. R. notes of other banks 718 44 174 43 45 76 79 40 29 23 26 34 105 Other cash 375 22 47 6 50 22 47 73 30 /l 23 16 35 Discounts and advances 765 19 181 20 12 24 58 282 3 23 18 50 75 Acceptances: Bought outright 58 - - 58 -- -- - - *“ “ • “ — *■“ "" * mm mm Held under repurchase agreements - - - - - - - - - - Federal Agency obligations-- Held under repurchase agreements -- -- -- -- — — • • • “ • "■ • • U. S. Government securities: Bought outright-- Bills 18,054 970 4,496 938] 1,418 1,338 978 2,911 636 356 712 771 2,530 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 51,904 2,789 12,925 2,697 4,077 3,845 2,812 8,367 1,828 1,025 2,048 2,218 7,273 Held under repurchase agreements _ - • mm _ . * - - - - -- -- -- - - - - Total U. S. Government securities 51.904 2.789 12.925 2.697 4,077 3,845 2,812 8,367 1,828 1,025 2,048 2,218 7,273 Total loans and securities 52,727 2,808 13,164 2,717 4,089 3,869 2,870 8,649 1,831 1,048 2,066 2,268 7,348 Cash items in process of collection 9,874 612 1,645 579 715 783 881 1,667 487 332 667 567 939 Bank premises 114 3 10 2 5 9 20 18 8 3 18 9 9 Other assets 1/ 2,058 92 695 98 159 108 110 273 63 42 78 96 244 TOTAL ASSETS 75,891 4,121 18,345 4,001 5,832 5,782 4,451 12,422 2,823 1,609 3,218 3,160 10,127 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 24, 1968 ________ ---------- --- San 1 New Phila- Cleve- Rich- St. Minne- Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran­ cisco (Itl millions of do lars) L I A B I L I T I E S Federal Reserve notes 42,875 2,516 9,746 2,493 3,457 3,949 2,344 7,626 1,604 752 1,611 1,473 5,304 Deposits: Member bank reserves 21,533 868 6,214 849 1,519 988 1,170 3,087 714 501 923 1,069 3,631 U. S. Treasurer-general account 973 81 147 89 67 77 76 101 58 43 73 51 110 Foreign 165 7 1/ 58 8 13 8 9 21 5 3 6 8 19 Other 468 1 2/421 2 4 8 2 2 1 3 5 2 17 Total deposits 23,139 957 6,840 948 1,603 1,081 1,257 3,211 778 550 1,007 1,130 3,777 Deferred availability cash items 8,126 561 1,313 469 621 651 743 1,319 381 268 526 465 809 Other liabilities and accrued dividends 350 19 88 18 28 26 20 55 12 7 14 15 48 TOTAL LIABILITIES 74,490 4,053 17,987 3,928 5,709 5,707 4,364 12,211 2,775 1,577 3,158 3,083 9,938 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 Other capital accounts 186 9 46 9 14 12 10 32 7 4 7 8 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75,891 4,121 18,345 4,001 5,832 5,782 4,451 12,422 2,823 1,609 3,218 3,160 10,127 Contingent liability on accept­ ances purchased for foreign correspondents 115 6 3/ 29 6 10 6 7 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 44,817 2,592 10,196 2,559 3,704 4,104 2,474 7,883 1,679 787 1,592 " 5,573----- Collateral for F. R. notes Gold certificate account 4,658 330 1,000 300 600 640 350 1,000 206 77 • - 155 Eligible paper -- — — -- -- — — -- - - — « _ U, S. Government securities 41,791 2,301 9,400 2,500 3,200 3,540 2,200 7,150 1,570 725 1,725 1,480 6,000 ----- -------j Total collateral 46,4491 2,631 10,400 2,800 3,800 4,180 2,550 8,150 I, 776 802 1,725 1,635 6,000 1/ After deducting $ 107 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $ 86mi11 ion participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis