H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•iiSJ8& 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;I* For immediate release October 3, 1968 The average of daily figures of total member bank reserves held during the week ended October 2, increased $519 million to $26,349 million. Required reserves also increased reflecting the usual mid-September rise in deposits during the tax payment period. (Under revised Regulation D required reserves are based on average deposits held two weeks earlier.) In the latest week, excess reserves rose to $349 million, well above the unusually low level of the previous period but not significantly different from the average of recent weeks. The major factors absorbing reserves were a seasonal decline in float and a continuation of the rebuilding of Treasury deposits with F.R. Banks begun the week before. The System provided reserves by purchasing around one billion dollars of U. S. Government securities on an outright basis; some reserves were also provided through repurchase agreements. Member bank borrowings at the Federal Reserve Banks increased, on average, in the current statement week to a level of $540 million; borrowings exceeded excess reserves by $191 million, compared with the revised figure of $303 million the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 2, Sept. 25, Oct. 4, Oct. 2, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 52,829 +985 +5,853 53,153 Held under repurchase agreements 63 + 63 + 63 Federal Agency obligations— Held under repurchase agreements + 1 Acceptances- Bought outright 49 -- 4 54 Held under repurchase agreements 5 + 5 - 101 -- Discounts and advances- Member bank borrowings 540 + 65 + 396 314 Other Float 1,778 -413 + 283 1,930 Total Reserve Bank credit 55,266 +706 +6,493 55,451 Gold stock 10,367 -- -2,639 10,367 Treasury currency outstanding 6.744 + 2 7 6,747 72,377 +708 +3,847 72,565 Currency in circulation 48,302 - 23 +3,191 48,475 Treasury cash holdings 795 - 3 - 688 789 Treasury deposits with F. R. Banks 1,201 +335 + 335 1,178 Foreign deposits with F. R. Banks 145 + 22 + 20 170 Other deposits with F. R. Banks 449 + 4 28 470 Other F. R. accounts (net) -257 + 36 - 311 -263 50,636 +372 +2,520 50,819 Member bank reserves: With Federal Reserve Banks 21,741 +336 +1,328 21,746 Currency and coin 4,608 +183 + 379 4,608 Total reserves held 26,349 +519 +1,707 26,354 Required reserves 26,000 +342 +1,771 26,000 Excess reserves 349 +177 - 64 354 NOTE: $60 million, (net) of surplus re serves were eligible to be carried forward from the week ended September 25, into the week ending October 2. On October 2, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,692 million, an increase of $53 million for the week. 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 Oct. 2, Sept, 25, Oct. 4, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 -2,483 Cash (854) 312 1 - 44 Discounts and advances 314 •1,251 + 176 Acceptances: Bought outright 54 Held under repurchase agreements 134 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 19,108 + 636 44,608 Certificates Notes 28,312 + 107 +2,114 Bonds 5.733 + 5 - 888 Total bought outright 53,153 + 748 +5,834 Held under repurchase agreements Total U. S. Government securities 53,153 + 748 +5,834 Total loans and securities 53,521 - 498 +5,876 Cash items in process of collection (2,218) 8,685 + 523 +1,207 Bank premises 115 + 2 + 4 Other assets 2/ 2,009 + 52 + 560 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,072) 74,668 + 78 +5,120 -'•/•' L I A B I L I T I ES Federal Reserve notes (854) 42,488 4- 104 +2,614 Deposits: Member bank reserves 21,746 _ 686 + 889 U. S. Treasurer—general account 1,178 + 151 + 653 Foreign 170 + 36 + 36 Other 3/ (2) 470 + 19 8 Total deposits (2) 23,564 - 480 +1,570 Deferred availability cash items 6,755 + 382 + 708 Other liabilities and accrued dividends 398 + 24 + 119 TOTAL LIABILITIES (3,072) 73,205 + 30 +5,011 C A P I T AL A C C O U N TS Capital paid in 620 r 1 + 31 Surplus 598 — + 28 Other capital accounts 245 + 47 + 50 Contingent liability on acceptances purchased for foreign correspondents 123 2 - 75 * 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." 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 2, 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 A*» ency obligations advance Acceptances Holdings Weekly changes iS Within 15 days 312 15 2,185 -241 16 days to 90 days 2 39 15,352 +615 91 days to 1 year -. -- 17,201 +601 Over 1 year to 5 yea rs .- -. 7,625 -277 Over 5 years to 10 years -• ... 10,186 + 45 Over 10 years -- -- 604 + 5 Total 314 54 53,153 +748 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 OCTOBER 2, 1968 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City _ci.sc.o 1 (In millions of dollars) A S S E TS Gold certificate account 10,026 614 2,876 534 747 912 463 1,596 340 148 287 307 1,202 F. R. notes of other banks 854 82 217 56 53 77 76 42 28 36 28 37 122 Other cash 312 20 34 8 42 19 42 50 30 3 20 15 29 Discounts and advances 314 28 16 5 15 18 38 129 13 11 4 15 22 Acceptances: Bought outright 54 -- 54 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements -- -- -- — -- -- -- -- -- -- -- -- -- Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills !19,108 993 4,594 981 1,474 1,428 1,041 3,152 684 384 792 824 2,761 Certificates ! -- -- -- -- -- -- -- -- -- -- -- -- Notes 28,312 1 ,473 6,808 1,453 2,184 2,115 1,543 4,669 1,013 570 1,174 1 ,220 4,090 Bonds 5,733 298 1,379 294 442 428 313 945 205 115 238 247 829 Total bought outright 53,153 ! 2, 764 12,781 2,728 4,100 3,971 2,897 8,766 1,902 1 ,069 2,204 2 ,291 7,680 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U, S. Government securities 53.153 ! 2, 764 12,781 2,728 4,100 3,971 2,897 8,766 1,902 1 ,069 2,204 2 ,291 7,680 Total loans and securities 53,521 , 2 ,792 12,851 2,733 4,115 3,989 2,935 8,895 1,915 1 ,080 2,208 2 ,306 7,702 Cash items in process of collection 10,903 674 1,834 627 847 919 910 1,825 588 371 702 604 1,002 Bank premises 115 3 10 2 5 10 19 18 8 3 19 9 9 Other assets 1/ 2,009 88 686 96 154 104 107 265 61 39 77 94 238 TOTAL ASSETS 77,740 4 ,273 18,508 4,056 5,963 6,030 4,552 12,691 2,970 1 ,680 3,341 3 ,372 10,304 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 OCTOBER 9, 1968 San New Phila Cleve Rich St. Minne Kansas 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 43,548 2,520 9,910 2,473 3,525 3,999 2,349 7,784 1,609 747 1,637 1,519 5,476 Deposits: Member bank reserves 20,525 885 5,525 939 1,424 967 1,171 3,036 740 549 917 1,126 3,246 U. S. Treasurer--general account 1,295 50 168 99 114 134 80 165 79 67 157 83 99 Foreign 112 5 1/ 30 6 10 6 7 16 4 3 5 6 14 Other 481 1 2/432 1 -- 13 1 1 * -- 2 2 28 Total deposits 22,413 941 6,155 1,045 1,548 1,120 1,259 3,218 823 619 1,081 1,217 3,387 Deferred availability cash items 8,090 593 1,178 498 628 700 741 1,298 401 304 516 446 787 Other liabilities and accrued dividends 386 20 93 20 30 28 21 63 14 9 16 17 55 TOTAL LIABILITIES 74,437 4,074 17,336 4,036 5,731 5,847 '^ ,370 12,36^ 2,847 1,679 3,250 3,199 <9 ,705 CAPITAL ACCOUNTS Capital paid in 621 30 158 32 55 32 40 92 22 14 27 36 83 Surplus 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 297 15 73 15 23 21 16 52 10 6 11 12 43 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75.953 4.148 ,17,721, 4.115 5.363 5.931 <f r.464 12,594 .2,8.99 _0 *213 3.314 .3 ^28J !h ±lQ Contingent liability on ace: eptances purchased for forei- gn ._._c9?:respondents 121 6 3/ 31 6 11 6 8 18 4 3 5 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 10,380 2,550 3,757 4,153 2,479 8,005 1,685 780 1,727 1,624 5,720 Collateral for F, R. notes: Gold certificate account 500 300 600 600 350 1,000 206 77 155 Eligible paper U. S. Government securities 10,000 2.500 3.300 3.600 2.200 7.150 1.570 725 1.775 1.530 6.000 Total collateral 2,631 10,500 2,800 3,900 4,200 2,550 8,150 1,776 802 1,775 1,685 6,000 1/ After deducting $ 82 million participations of other Federal Reserve Banks, 2./ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 90 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis