H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.:«oi£ov&. FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August 22, 1968 The average of daily figures of total member bank reserves held during the week ended August 21, increased a net of $275 million to $26,160 million. Estimated currency and coin of member banks increased $61 million and their reserve balances at the Federal Reserve Banks increased $214 million. Estimated required reserves increased $81 million; and estimated excess reserves increased $194 million to $510 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $109 million, compared with the revised figure of $260 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $392 million in U, S. Government securities bought outright, $309 million in Federal Reserve float, and a decrease of $37 million in currency in circulation. The principal offsetting changes were a decrease of $112 million in U. S. Government securities held under repurchase agreements, and increases of $355 million in "other" F. R. accounts (net), and $71 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $600 million. As of Wednesday, August 21, 1968, holdings of U. S. Government securities bought outright were $538 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $168 million lower, and member bank borrowings were $125 million higher. Outright holdings of bills, and notes increased $538 million, and $397 million respectively, and bonds decreased $397 million. Average. s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 21, Aug. 14, Aug. 23, Aug. 21, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 52,604 +392 +6,100 52,750 Held under repurchase agreements 181 -112 + 181 140 Federal Agency obligations— ^ Held under repurchase agreements 3 - 10 + 3 4 Acceptances- Bought outright 53 - 1 21 52 Held under repurchase agreements 15 - 18 + 15 -- Discounts and advances— Member bank borrowings 619 + 43 + 572 416 Other - 4 Float 1,945 +309 + 331 1,848 Total Reserve Bank credit 55,420 +600 +7,182 55,210 Gold stock 10,367 -- -2,691 10,367 Treasury currency outstanding 6,734 + 4 + 60 6,737 72,520 +603 +4,550 72,314 Currency in circulation 48,252 - 37 +3,232 48,288 Treasury cash holdings 808 - 3 - 689 807 Treasury deposits with F. R. Banks 998 + 71 - 23 1,046 Foreign deposits with F. R. Banks 173 - 16 + 40 125 Other deposits with F. R. Banks 467 + 18 + 25 450 Other F. R. accounts (net) 42 +355 - 215 41 Member bank reserves: 50,741 +389 +2,372 50,757 With Federal Reserve Banks 21,779 +214 +2,177 21,556 Currency and coin (estimated) 4,381 + 61 + 210 4,888 Total reserves held 26,160 +275 +2,387 26,444 Required reserves (estimated) 25,650 + 81 +2,350 25,809 Excess reserves (estimated) 510 +194 + 37 635 On August 21, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,496 million, an increase of ?29 million for the week and an increase of $129 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. 21, Aug. 14, Aug. 23, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 -2,529 * . Cash (714) 345 - 10 + 3 Discounts and advances 416 + 125 + 369 Acceptances: Bought outright 52 2 19 Held under repurchase agreements - 44 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 18,900 + 538 +5,024 Certificates Notes 28,143 + 397 +2,053 Bonds 5,707 - 397 - 831 Total bought outright 52,750 + 538 +6,246 Held under repurchase agreements 140 - 168 + 140 Total U. S. Government securities 52,890 + 370 +6,386 Total loans and securities 53,362 + 452 +6,740 Cash items in process of collection (2, 129) 8,095 - 539 +1,358 Bank premises 113 -- + 2 Other assets 2/ 1,627 - 350 + 424 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2, 843) 73,568 - 447 +5,998 L I A B I L I T I ES Federal Reserve notes (714) 42,363 - 110 +2,690 Deposits: Member bank reserves 21,556 + 247 +2,317 U. S. Treasurer--general account 1,046 + 115 - 90 Foreign 125 - 91 8 Other 3/ 450 - 41 + 13 Total deposits 23,177 + 230 +2,232 Deferred availability cash items (2,129) 6,247 - 647 + 830 Other liabilities and accrued dividends 386 + 20 + 142 TOTAL LIABILITIES (2,843) 72,173 - 507 +5,894 C A P I T AL A C C O U N TS Capital paid in 618 + 31 Surplus 598 + 28 Other capital accounts 179 + 60 + 45 Contingent liability on acceptances purchased for foreign correspondents 150 + 2 117 * 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 21, 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 advancei s ACJs eptances Holdings Weekly changes Within 15 days 409 20 2,878 -4,515 16 days to 90 days 7 32 14,584 +5,897 91 days to 1 year -• _. 16,858 -5,788 Over 1 year to 5 years .. -- 7,879 + 142 Over 5 years to 10 year*ss -- 10,107 +4,637 Over 10 years -- -- 588 -- Total 416 52 52,894 + 373 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 21, 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 oflioiYs trs) A S S E TS Gold certificate account 10,026 687 1,633 549 862 942 553 2,063 393 172 410 373 1,389 F. R. notes of other banks 714 59 159 48 42 71 83 41 25 29 23 36 98 Other cash 345 21 41 6 48 19 45 61 30 5 22 16 31 Discounts and advances 416 1 U 176 -- 12 20 16 128 6 9 9 25 2 Acceptances: Bought outright 52 -- 52 -- -- -- -- -- -- -- • • -- - «• Held under repurchase agreements — -._ -- -- -- -- -- -- -- -- -- -.- .» "Federal Agency obligations-- Held under repurchase agreements 4 4 U. S. Government securities: Bought outright-- Bills 18,900 1,002 4,745 982 1,456 1,391 1,012 3,045 670 365 740 786 2,706 Certificates — i -- -- -- -- -- -- «- -- -- -- • - Notes 23,143 1,492 7,065 1,463 2,168 2,071 1,507 4,534 997 543 1 ,103 1 ,171 4,029 jTkmds 5,707 302 1,433 296 440 420 306 920 202 110 224 237 817 ~T ~T Total bought outright 52,750 2,796 13,243 2,741 4,064 3~, 882 2,825 8,499 1,869 ,018 ~~2, 067 ,194 7,552 Held sander repurchase agreements 140 -- 140 -- -- -- -- -- --. -- — • _ «. .. . Total U. S. Government securities 52^890 P 2J96 13,383 2,741 4,064 3,882~ ~2782"5~ " 8,499 1,869 T ,018 ~2 ro6T"" T,1 94 7,552 Total loans and securities \ 53,362 f 2,809 '" 13,615 2,741 4,076 3,902 2,841 8,627 1,875 1 ,027 2 ,076 2 ,219 7,554 Cash items in process of collection 10,224 646 1,736 583 762 844 878 1,682 526 374 657 601 935 Bank premises 113 3 10 2 5 9 19 18 8 3 18 9 9 Other assets 1/ 1,627 69 583 76 121 81 84 204 48 31 60 74 196 TOTAL ASSETS 76,411 4,294 17,777 4,005 5,916 5,868 4,503 12,696 2,905 1 ,641 3 ,266 3 ,328 10,212 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 AUGUST 21, 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 43,077 2,507 9,819 2,474 3,488 3,959 2,337 7,688 1,604 748 1,617 1,482 5,354 Deposits: Member bank reserves 21,556 1,032 5,557 879 1,507 1,004 1,234 3,283 778 520 963 1,196 3,603 U. S. Treasurer—general account 1,046 56 178 81 81 76 65 105 64 25 69 66 180 Foreign 125 6 1/ 32 7 11 6 8 18 4 3 6 7 17 Other 450 1 2/ 406 1 -- 10 1 1 -k 1 2 1 26 Total deppsit£ 23,177 1,095 6,173 968 1,599 1,096 1,308 3,407 846 549 1,040 1,270 3,826 Deferred availability cash items 8,376 604 1,331 471 678 710 752 1,332 394 305 535 484 780 Other liabilities and accrued dividends 386 20 99 20 30 29 20 61 14 8 15 16 54 TOTAL LIABILITIES 75,016 4,226 17,422 3,933 5,795 5,794 4,417 12,488 2,858 1,610 3,207 3,252 10,014 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 179 9 43 8 17 11 9 29 6 3 6 7 36 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 76,411 4,294 _17,777_ 4,005 5,916 5,868 _b,J03 12,696 2,905 1,641 3,266 3,328 10,212 Contingent liability on ace: eptances purchased for foreign correspondents 150 7 39 8 13 8 9 22 5 3 7 9 20 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 45,123 2,596 10,194 2,540 3,756 4,113 2,469 7,962 1,690 783 1,705 1,605 5,710 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 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 $ 93 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $Hlmillion participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis