H.4.1 Factors Affecting Reserve Balances of Depository Institutions

JItlk- F E D E R AL R E S E R VE Factors Affecting Bank Reserves and H.4':?^--' Condition Statement of F.R. Banks For immediate release August 8, 1968 The average of daily figures of total member bank reserves held during the week ended August 7, increased a net of $56 million to $26,231 million. Estimated currency and coin of member banks decreased $381 million and their reserve balances at the Federal Reserve Banks increased $437 million. Estimated required reserves increased $40 million; and estimated excess reserves increased $16 million to $356 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $381 million, compared with the revised figure of $262 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $276 million in U. S. Government securities held under repurchase agreements, and $135 million in member bank borrowings, and a decrease of $188 million in Treasury deposits with F. R. Banks. The principal offsetting change was an increase of $126 million in currency in circulation. Total Reserve Bank credit increased $491 million. As of Wednesday, August 7, 1968, holdings of U. S. Government securities were unchanged from a week earlier, U. S. Government securities held under repurchase agreements were $357 million higher, and member bank borrowings were $220 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended I Wednesday, Reserve Bank credit, Aug. 7, July 31, Aug. 9, Aug. 7, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 52,160 + 76 +5,356 52,160 Held under repurchase agreements 310 +276 + 183 594 Federal Agency obiigations-- Held under repurchase agreements 13 + 13 + 13 44 Acceptances*- Bought outright 55 - 3 25 54 Held under repurchase agreements 41 - 7 8 74 Discounts and advances-- Member bank borrowings 737 +135 + 646 504 Other 11 - 2 + 11 10 Float 1,630 + 3 + 245 1,506 Total Reserve Bank credit 54, 957 +491 +6,421 54,946 Gold stock 10, 367 -- -2,690 10,367 Treasury currency outstanding 6 ,573 + 5 69 6,576 71, 896 +494 +3,661 71,839 Currency in circulation 47, 823 +126 +2,838 48,101 Treasury cash holdings 824 5 - 656 823 Treasury deposits with F. R. Banks 845 -188 75 358 Foreign deposits with F. R. Banks 204 + 49 + 76 214 Other deposits with F. R. Banks 475 + 32 + 18 i 467 Other F. R. accounts (net) -274 + 44 - 500 1 -299 Member bank reserves: 49,8 97 + 58 +1,701 49,664 With Federal Reserve Banks 21,9 99 +437 +1,961 22,225 Currency and coin (estimated) _4> 232 -381 + 310 4,505 Total reserves held 26,231 + 56 +2,271 26,730 Required reserves (estimated) 25,875 + 40 +2,286 25,872 Excess reserves (estimated) 356 + 16 15 1 858 On August 7, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,576 million, a decrease of $33 million for the week and an increase of $208 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 Aug. 7, July 31, Aug. 9, 1968 1968 1967 A S S E TS Gold certificate account JL/ 10,026 •2,523 Cash (718) 357 12 + 31 Discounts and advances 514 222 + 253 Acceptances: Bought outright 54 2 28 Held under repurchase agreements 74 31 + 26 Federal Agency obligations- Held under repurchase agreements 44 44 + 44 U. S. Government securities- Bought outright-- .. Bills 18,310 +4,134 Certificates -- -4,353 Notes 27,746 -- +6,009 Bonds 6,104 -- - 434 Total bought outright 52,160 +5,356 Held under repurchase agreements 594 + 357 + 594 Total U, S. Government securities 52,754 + 357 +5,950 Total loans and securities 53,440 + 208 +6,245 Cash items in process of collection (1,894) 7,601 - 84 + 838 Bank premises 113 -- + 3 Other assets 2/ 2.069 +_ 38 + 768 TOTAL ASSETS/LIABILITIES & CAPItAL ACCOUNTS (2,612) 73,606 + 151 +5.362 L I A B I L I T I ES Federal Reserve notes 42,364 + 266 +2,531 Deposits: Member bank reserves 22,225 + 523 +2,484 U. S. Treasurer--general account 358 - 755 - 559 Foreign 214 + 12 + 98 Other 3/ 467 - 12 -- Total deposits 23,264 - 232 +2, 023 Deferred availability cash items (1,894) 6,095 + 58 + 557 Other liabilities and accrued dividends 386 + 11 + 133 TOTAL LIABILITIES (2,612) 72,109 103 +5,244 C A P I T AL A C C O U N TS Capital paid in 618 -- + 31 Surplus 598 + 28 Other capital accounts 281 - 48 + 59 Contingent liability on acceptances purchased for foreign correspondents X28 -- - 168 * 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.11 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 7, 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 Federal Agency obligations Discounts and Holdings Weekly changes advances Acceptances 7,669 +400 Within 15 days 509 92 8,673 +463 16 days to 90 days 5 36 91 days to 1 year 22,661 -462 Over 1 year to 5 years 7,737 Over 5 years to 10 years 5,470 Over 10 years -- -~ 588 Total 514 128 52,798 +401 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 AUGUST 7, 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 10,026 857 951 607 854 946 595 2,166 418 193 378 354 1,707 F. R. notes of other banks 718 53 190 53 41 65 75 43 22 29 20 30 97 Other cash | 357 21 43 5 49 21 47 67 29 4 22 16 33 Discounts and advances 514 16 199 8 31 11 22 93 55 33 13 24 9 Acceptances: Bought outright 54 54 Held under repurchase agreements 74 74 Federal Agency obligations-- Held under repurchase agreements 44 44 U. S. Government securities: Bought outright-- Bills 970 952 1,410 1,348 980 2,950 649 353 718 762 2,621 18,310 4,597 Certificates Notes 27,746 1 ,471 6,966 1 ,442 2,138 2,042 1 ,486 4,470 983 535 1 ,087 1 ,154 3,972 Bonds 6,104 324 1,532 317 470 449 327 984 216 118 239 254 874 Total bought outright 52,160 2 ,765 13,095 2 ,711 4,018 3,839 2 ,793 8,404 1,848 1 ,006 2 ,044 2 ,170 7,467 Held under repurchase agreements 594 594 Total U. S. Government securities 52,754 i 2 ,276 5 13,689 2 ,711. 4,018 3,839 2 ,793 8,404 1,848 1 ,006 2 ,044 2 ,170 7,467 1 Total loans and securities 53,440 ,731 14,060 2 ,719 4,049 3,850 2 ,815 8,497 1,903 1 ,039 2 ,057 2 ,194 7,476 Cash items in process of collection 9,495 611 1,629 605 700 781 831 1,525 468 317 583 543 902 Bank premises 113 3 10 2 5 9 19 18 8 3 18 9 9 Other assets 1/ 2,069 94 699 99 158 110 109 275 64 40 78 95 248 TOTAL ASSETS 76,218 4 ,420 17,582 4 ,090 5,856 5,782 4 ,491 12,591 2,912 1 ,625 3 ,156 3 ,241 10,472 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 AUGUST 7, 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 43,082 2,508 9,816 2,489 3,470 3,957 2,355 7,650 1,608 749 1,620 1,478 5,382 Deposits:, Member bank reserves 22,225 1,197 5,493 974 1,581 1,029 1,238 3,402 766 542 891 1,189 3,923 U. S. Treasurer—general account 358 30 66 27 29 9 49 9 13 23 4 18 81 Foreign 214 10 1/ 65 11 18 10 13 29 7 5 9 11 26 Other 467 2/428 2 19 12 1 2 1 20 Total deposits 23,264 1,237 6,052 1,014 1,629 1,057 1,301 3,442 787 570 906 1,219 4,050 Deferred availability cash items 7,989 583 1,218 490 598 658 724 1,214 453 266 552 446 787 Other liabilities and accril ed dividends 386 19 113 19 29 27 19 58 13 7 15 16 51 TOTAL LIABILITIES 74,721 4,347 17,199 4,012 5,726 5,699 4,399 12,364 2,861 1,592 3,093 3,159 10,270 CAPITAL ACCOUNTS Capital paid in 618 30 158 32 55 32 39 92 21 14 27 35 83 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 281 14 71 14 21 20 15 48 10 5 10 13 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS !76,218 4,420 17,582 4,090 5,856 5,782 4,491 12,591 2,912 1,625 3,156 3,241 10,472 Contingent liability on ac<: eptances purchased for fore:L gn correspondents 128 6 3/ 33 7 11 7 8 19 4 3 6 7 17 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 44,793 2,580 10,179 2,540 3,699 4,082 2,461 7,903 1,670 782 1,691 1,595 5,611 Collateral for F. R. notes: Gold certificate account 4,118 ! 330 500 300 600 600 350 1,000 206 77 155 Eligible paper U. S. Government securities 42.291 ! 2.301 9.900 2,500 3,200 3,540 2,200 7,150 1,570 725 1,725 1,480 6,000 Total collateral 46,409 I 2,631 10,400 2,800 3,800 4,140 2,550 8,150 1,776 802 1,725 1,635 6,000 1/ After deducting $149 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3_/ After deducting $ 95 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis