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 September 12, 1968 The average of daily figures of total member bank reserves held during the week ended September 11, increased a net of $253 million to $26,124 million. Estimated currency and coin of member banks decreased $83 million and their reserve balances at the Federal Reserve Banks increased $336 million. Estimated required reserves decreased $1 million; and estimated excess reserves increased $254 million to $526 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $108 million, compared with the revised figure of $182 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were increases of $193 million in Federal Reserve float, and $180 million in member bank borrowings, and a decrease of $791 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $647 million In U. S. Government securities bought outright, and an increase of $261 million in currency in circulation. Total Reserve Bank credit decreased $263 million. As of Wednesday, September 11, 1968, holdings of U. S. Government securities bought outright were $1,844 million lower than a week earlier, and member bank borrowings were $330 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 11, Sept. 4, Sept. 13, Sept. 11, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S, Government securities- Bought outright—System account 52,328 -647 +6,187 50,952 Held under repurchase agreements Special certificates 13 + 13 53 — Federal Agency obligations- Held under repurchase agreements Acceptances- Bought outright 51 — 8 51 Held under repurchase agreements Discounts and advances- Member bank borrowings 634 +180 + 564 115 Other Float 1,892 +193 + 348 1,702 Total Reserve Bank credit 54,917 -263 +7,037 52,820 Gold stock 10,367 — -2,640 10,367 Treasury currency outstanding 6,733 - 7 + 7 6,734 72,018 -269 +4,405 69,921 Currency in circulation 48,685 +261 +3,287 48,771 Treasury cash holdings 787 - 17 - 696 i 788 Treasury deposits with F. R. Banks 147 -791 55 21 Foreign deposits with F. R. Banks 134 - 6 + 8 129 Other deposits with F. R. Banks 446 - 11 - 45 460 Other F. R. accounts (net) 60 - 41 - 43 71 50,259 -607 +2,455 50,098 Member bank reserves: With Federal Reserve Banks 21,758 +336 +1,948 19,823 Currency and coin (estimated) 4,366 - 83 + 137 4,990 Total reserves held 26,124 +253 +2,085 24,813 Required reserves (estimated) 25,598 - 1 +1,945 25,833 Excess reserves (estimated) 526 +254 + 140 -1,020 On September 11, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,594 million, a decrease of $254 million for the week and an increa se of $191 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 Sept. 11, Sept. 4, Sept. 13, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 •2,483 Cash (704) 309 12 35 Discounts and advances 115 330 h 77 Acceptances: Bought outright 51 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 17,019 •1,844 4-3,814 Certificates Notes 28,205 4-2,080 Bonds 5,728 - 827 Total bought outright 50,952 •1,844 +5,067 Held under repurchase agreements Total U. S. Government securities 50,952 -1,844 +5,067 Total loans and securities 51,118 -2,175 +5,137 Cash items in process of collection (1,988) 8,061 + 660 + 167 Bank premises 113 -- + 4 Other assets If 1,881 + 185 + 509 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,692) 71,508 •1,342 +3,299 h I A B I L I T IE S Federal Reserve notes (704) 42,793 .- 55 +2,753 Deposits: Member bank reserves 19,823 -1,031 + 411 U. S. Treasurer--general account 21 -1,020 - 255 Foreign 129 20 + 5 Other 3/ 460 + 12 33 Total deposits 20,433 -2,059 + 128 Deferred availability cash items (1,988) 6,359 + 616 - 13 Other liabilities and accrued dividends 387 - z + 136 TOTAL LIABILITIES (2,692) 69,972 +3,004 -1,395 C A P I T AL A C C O U N TS Capital paid in 618 -- + 30 Surplus 598 -- + 28 Other capital accounts 320 ^ 53 + 237 Contingent liability on acceptances purchased for foreign correspondents 126 - 12 «- 103 * 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." 2j Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 11, 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 advances Ac<" eptances Holdings Weeklv changes Within 15 days 112 16 580 -1,625 16 days to 90 days 3 35 14,954 43 91 days to 1 year -. -. 16,776 - 176 Over 1 year to 5 years -- -. 7,902 -- Over 5 years to 10 years -« ..- 10,141 -- Over 10 years -. -- 599 -- Total 115 51 50,952 -1,844 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 SEPTEMBER 11, 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 ci f dollars) A S S E TS Gold certificate account 10,026 577 2,058 588 892 1,067 644 2,311 422 195 354 432 486 F. R. notes of other banks 704 65 147 49 42 76 87 43 25 34 24 32 80 Other cash 309 18 35 4 45 19 42 53 29 3 20 14 27 Discounts and advances 115 2 14 1 10 * 2 27 9 30 3 16 1 Acceptances: Bought outright ! 51 -- 51 -- -- — -- .. -- -- -- -- -- Held under repurchase agreements • - -- -- — — -- -- -- -- -- -- -- -- Federal Agency obligations— Held under repurchase agreements "* U. S. Government securities: Bought outright— Bills 17,019 897 4,193 877 1,321 1,250 910 2,800 611 330 684 714 2,432 Certificates -- -- -- — -- -- — -- -- -- -• __ Notes 28,205 1, 486 6,949 1,454 2,189 2,073 1,508 4,640 1,012 546 1,134 1 ,183 4,031 Bonds 5.728 302 1.411 295 445 421 306 942 206 111 230 240 819 — ~T Total bought outright 50,952 ,685 12,553 2,626 3,955 3,744 2,724 8,382 1,829 987 2,048 ,137 7,282 Held under repurchase agreements ._ _- -- -- -- -- -« -- -- »- «. m. "T mm «. «. • Total U. S. Government securities 50.952 ~~2. 685 12.553 2.626 3.955 3.744 2.724 8.382 1.829 987 2.048 .137 7.282 ~ Total loans and securities 51,118 2 ,687 12,618 2,627 3,965 3,744 2,726 8,409 1,838 1,017 2,051 2 ,153 7,283 Cash items in process of collection 10,049 633 1,623 635 714 838 903 1,591 539 352 697 582 942 Bank premises | 113 3 10 2 5 9 19 18 8 3 18 9 9 Other assets 1/ 1.881 83 650 89 145 95 99 245 57 37 72 89 220 TOTAL ASSETS ! 74,200 4 ,066 17,141 3,994 5,808 5,848 4,520 12,670 2,918 1,641 3,236 3 ,311 9,047 1^/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. 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 SEPTEMBER 11, 1968 r — Cleve Rich St. Minne Kansas San Total Boston New Phila Atlanta Chicago Dallas Fran land mond Louis apolis City York delphia cisco (In millions of dollars) L I A B I L I T I E S. Federal Reserve notes 43,497 2,519 9,857 2,476 3,518 3,981 2,360 7,758 1,612 750 1,634 1,509 5,523 Deposits: Member bank reserves 19,823 859 5,128 887 1,473 1,019 1,260 3,297 814 538 948 1,219 2,381 U. S. Treasurer--general account 21 -- 11 1 2 1 -- 1 1 __ 1 1 2 Foreign 129 6 1/ 36 7 11 7 8 18 4 3 5 7 17 Other 460 1 2/422 1 1 12 1 2 * 1 3 1 15 Total deposits 20,433 866 5,597 896 1,487 1,039 1,269 3,318 819 542 957 1,228 2,415 Deferred availability cash items 8,347 585 1,196 523 640 715 776 1,299 421 307 565 475 845 Other liabilities and accrued dividends 387 20 98 19 29 28 21 62 14 8 16 16 56 TOTAL LIABILITIES 72,664 3,990 16,748 3,914 5,674 5,763 4,426 12,437 2,866 1,607 3,172 3,228 8,839 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 320 17 81 16 25 22 17 54 11 6 11 14 46 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 74,200 4,066 17,141 3,994 5,808 5,848 _^520_ 12,670 2,918 _li641__ 3,236 3,311 9,047 Contingent liability on ace: eptances purchased for forei- gn correspondents 126 6 3/ 32 7 11 7 8 18 4 3 6 7 17 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 10,254 2,545 3,762 4,122 2,477 8,017 1,689 784 1,718 1,622 5,769 Collateral for F. R. notes: Gold certificate account 500 300 600 600 350 1,000 206 77 -- 155 Eligible paper U. S. Government securities 9,900 2,500 3,200 3,565 2,200 7,150 1,570 725 1,775 1,530 6,000 Total collateral 2,631 10,400 2,800 3,800 4,165 2,550 8,150 1,776 802 1,775 1,685 6,000 1/ After deducting $ 93 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. £./ After deducting $ 94 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis