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 For immediate release H.4.Y October 10, 1968 The average of daily figures of total member bank reserves held during the week ended October 9, increased $67 million to $26,437 million. Required reserves continued to rise, primarily reflecting the increase, on weekly average, in U. S. Government demand deposits in the week following the raid-September tax payment. Excess reserves declined to a level of $157 million. A seasonal rise in currency, absorbing reserves, was about offset by a moderate rise in float and a decline in Treasury deposits with F. R. Banks. The System provided reserves, on balance, by adding to its holdings of U. S. Government securities bought outright. Member bank borrowings at the Federal Reserve Banks declined moderately, and borrowings exceeded excess reserves by $245 million, compared with the revised figure of $170 million, the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 9, Oct. 2, Oct. 11, Oct. 9, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright — System account 53,063 +234 +5,744 jI/52,606 Held under repurchase agreements - 63 - 237 | Federal Agency obligations- Held under repurchase agreements Acceptances- Bought outright 53 + 4 1 54 Held under repurchase agreements - 5 68 Discounts and advances — Member bank borrowings 402 -138 + 257 288 Other Float 1,907 +108 + 489 i 1,678 Total Reserve Bank credit 55,426 +139 +6,179 ; 54,626 Gold stock 10,367 -- -2,640 j 10,367 Treasury currency outstanding 6,749 + 5 - 18 i 6,751 72,542 +144 +3,521 ! 71,744 Currency in circulation 48,550 +248 +3,143 48,794 Treasury cash holdings 736 - 9 - 687 ! 795 Treasury deposits with F. R. Banks 1,072 -129 + 70 1 1,295 Foreign deposits with F. R. Banks 156 + 11 + 29 112 Other deposits with F. R. Banks 473 + 24 29 481 Other F. R. accounts (net) -250 + 7 - 343 - 258 50,787 +151 +2,185 51,219 Member bank reserves: With Federal Reserve Banks 21,755 - 7 +1,336 20,525 Currency and coin 4,682 + 74 + 702 4,682 Total reserves held 26,437 + 67 +2,038 25,207 Required reserves 26,280 +280 +2,130 26,280 Excess reserves 157 -213 92 -1,073 NOTE: $41 million, (net) of surplus reisse rves were eligible to be carried forward from the week ended October 2, into the week ending October 9. 1/ Reflects $445 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. On October 9, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,964 million, an increase of $272 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANkS (In millions of dollars) Wednesday Change since Oct. 9, Oct. 2, Oct. 11, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 -2,481 Cash (741) 310 2 52 Discounts and advances 288 • 26 + 170 Acceptances: Bought outright-- 54 - - • « Held under repurchase agreements 94 Federal Agency obligations: Held under repurchase agreements 36 U. S. Government securities: Bought outright Bills 18,425 683 +3,925 Certificates Notes 28,424 + 112 +2,226 Bonds 5,757 ± 24 - 864 Total bought outright 2/52,606 - 547 +5,287 Held under repurchase agreements - 636 Total U. S. Government securities 52,606 - 547 +4,651 Total loans and securities 52,948 - 573 +4,691 Cash items in process of collection (1,908) 7,860 - 859 + 716 Bank premises 115 -- + 4 Other assets 3/ 2,045 + 36 + 571 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,649) 73,304 -1,398 4-3,449 L I A B I L I T I ES Federal Reserve notes (741) 42,807 319 +2,610 Deposits: Member bank reserves 20,525 -1,255 - 11 U. S. Treasurer—general account 1,295 + 117 + 381 Foreign 112 58 - 17 Other 4/ 481 + 11 - 29 Total deposits 22,413 -1,185 + 324 Deferred availability cash items (1,908) 6,182 - 573 + 300 Other liabilities and accrued dividends 386 12 + 94 TOTAL LIABILITIES (2,649) 71,788 -1,451 +3 ,328 C A P I T AL _A_ C C O U N TS Capital paid in 621 1 + 32 Surplus 598 -- + 28 Other capital accounts 297 -• 52 + 61 Contingent liability on acceptances purchased for foreign correspondents 121 - 2 - 66 * 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.'1 2/ Reflects $445 million of securities sold, and scheduled to be bought back, under matched sale-purchase transactions. 3/ Includes assets denominated in foreign currencies and IMF gold deposited. 4/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 9, 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 obii gations advance* S Acc eptances Holdings Wee kly changes Within 15 days 286 17 1,714 -471 16 days to 90 days 2 37 15,174 -178 91 days to 1 year -- -«. 17,220 + 19 Over 1 year to 5 years -- „ 7,652 + 27 Over 5 years, to 10 years -- -. 10,235 4- 49 Over.10 years -- -- 611 + 7 Total 288 54 52,606 -547 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 9, 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 10,026 574 2,352 657 834 942 483 1,947 381 189 342 309 1,016 F. R. notes of other banks 741 73 212 44 41 70 62 34 21 27 23 31 103 Other cash 310 18 35 8 42 20 42 48 30 4 20 15 28 Discounts and advances 288 31 120 2 7 11 28 20 9 30 2 11 17 Acceptances: Bought outright 54 — 54 -- — -- -- — — — — -- — Held under repurchase agreements -- -- -- — -- — -- — — — — — — Federal Agency obligations-- Held under repurchase agreements — U. S. Government securities: Bought outright--* Bills 18,425 958 4,430 946 1,421 1,376 1,004 3,039 660 371 764 794 2,662 Certificates • - -- -- -- — -- -- — -- -- -- -- -- Notes 28,424 1 ,478 6,835 1,459 2,192 2,124 1,549 4,688 1,017 572 1 ,178 1 ,225 4,107 Bonds 5,757 300 1.384 295 444 430 314 949 206 116 239 248 832 ~T Total bought outright 52,606 2 ,736 12,649 2,700 4,057 3,930 2,867 8,676 1,883 1,059 2 ,181 ,2o7 7,601 Held under repurchase agreements -_ -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 52 606 2 ,736 12,649 2,700 4,057 3.930 2,867 8.676 1,883 1,059 ? 2 ,267. 7,601 % ! J-..V-1- Total loans and securities 52,948 2 ,767 12,823 2,702 4,064 3,941 2,895 8,696 1,892 1,089 2 ,163 2 ,278 7,618 Cash items in process of collection 9,768 623 1,595 603 720 842 854 1,581 505 361 648 543 893 Bank premises 115 3 10 2 5 10 19 18 8 3 19 9 9 Other assets 1/ 2,045 90 694 99 157 106 109 270 62 40 79 96 243 TOTAL ASSETS 75,953 i 4 ,148 17,721 4,115 5,863 5,931 4,464 12,594 2,899 1,713 3 ,314 3 ,281 9,910 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 Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of do]L iars) 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 -4,370 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 '25*251. 4.148 -17,721. 4.115 5.863 -5,931 ,<^ .464 12.594 M322 4,JJUL_ 3,314 •J *2flJ 1h am Contingent liability on accept ances purchased for foreign correspondents 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 l 775 1.530 6,000 r 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. 37 After deducting $ 90 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis