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 October 17, 1968 The average of daily figures of total member bank reserves held during the week ending October 16, increased $494 million to $26,949 million. Required reserves rose reflecting an increase in private demand deposits in the last week in September. Excess reserves held by banks rose to a level of $341 million. A seasonal rise in currency in circulation, absorbing reserves, was offset by moderate declines in Treasury deposits with Federal Reserve Banks, and Foreign deposits with Federal Reserve Banks. .The System provided nearly one-half billion dollars "of reserves, net, primarily through outright purchases of U. S. Government securities. Member bank borrowings at Federal Reserve Banks increased-slightly, and borrowings exceeded excess reserves by $177 million, compared with the revised figure of $227 million the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 16, Oct. 9, Oct. 18, Oct. 16, and related items, 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 53,397 +334 +6,082 53,204 Held under repurchase agreements 96 + 96 - 364 197 Federal Agency obligations- Held under repurchase agreements + 3 24 8 Acceptances- Bought outright 55 + 2 + 2 57 Held under repurchase agreements 51 + 51 9 42 + Discounts and advances- Member bank borrowings 518 +116 + 302 189 Other Float 1,973 + 48 + 571 2,076 Total Reserve Bank credit 56, 094 +651 +6,579 55,773 Gold stock 10, 367 -2,640 10,367 Treasury currency outstanding 6 ,754 + 5 27 6,757 73, 215 +656 +3,913 72,897 Currency in circulation 48, 764 +214 +3,205 48,860 Treasury cash holdings 780 - 6 - 704 760 Treasury deposits with F. R. Banks 980 - 92 + 38 1,047 Foreign deposits with F. R. Banks 132 - 24 + 1 136 Other deposits with F. R. Banks 483 + 10 2 486 Other F. R. accounts (net) -248 + 2 - 155 -369 Member bank reserves: 50, 890 +103 +2,382 50,920 With Federal Reserve Banks 22 ,325 +552 +1,530 21,977 Currency and coin 4 ,624 - 58 + 390 4,624 Total reserves held 26,949 +494 +1,920 26,601 Required reserves 26,608 +328 +2,140 26,608 Excess reserves 341 +166 - 220 1 - 7 NOTE: $78 million, (net) of surplus res erves were eligible to be carried forward from the week ended October 9, into, thew eek ending October 16. The comparable figure for the previous week should have been $160 million instead of the $41 million reported. 1/ Reflects $355 million of securities sold, and scheduled to be bought back, under matched s,le-purchase transactions. On October 16, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,696 million, a decrease of $268 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OP CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday ^Change since Oct. 16, Oct. 9, Oct. 18, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 — -2,476 Cash (750) 307 3 59 Discounts and advances 189 - 99 + 52 Acceptances* Bought outright 57 : + 3 + 3 Held under repurchase agreements 42 + 42 + 35 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 19,023 + 598 44,550 Certificates Notes 28,424 +2,226 Bonds 5,757 - 864 Total bought outright 2/53,204 + 598 +5,9 12 Held under repurchase agreements 197 + 197 - 88 Total U. S. Government securities 53,401 + 795 +5,8 24 Total >Qans and securities 53,697 + 749 +5,, 907 Cash items in process of collection (2,632) 9,602 +1, 726 +1 ,211 Bank premises 115 + 4 Other assets 3/ 2,003 _ 42 + 347 TOTAL ASSETS/LIABILTIES & CAPITAL ACCOUNTS (3,382) 75,750 ±2. 430 +4 .934 L I A B I L I T I ES Federal Reserve notes 42,829 + 22 +2,680 Deposits: Member bank reserves 21,977 +1,436 +1,257 U. S. Treasurer--general account 1,047 - 248 - 92 Foreign 136 + 24 16 Other 4/ 486 + 5 + 24 Total deposits 23,646 +1 ,217 +1 ,173 Deferred availability cash items (2,632) 7,526 +1 ,344 + 907 Other liabilities and accrued dividends 394 + 8 + 96 TOTAL LIABILITIES (3,382) 74,395 -1-2,591 +4,856 C A P I T AL A C C O U N TS Capital paid in 621 -- + 32 Surplus 598 ~ + 28 Other capital accounts 136 161 + 18 Contingent liability on acceptances purchased for foreign correspondents 118 3 - 60 * 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$355 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 16, 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 advances Acceptances Holdings Weekly changes Within 15 days '186 59 2,632 +918 16 days to 90 days 3 40 14,819 -355 91 days to 1 year -- -- 17,460 +240 Over 1 year to 5 years .- -- 7,652 Over 5 years to 10 years ..- 10,235 Over 10 years _-- -j- 611 Total 189 99 53,409 +803 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 16, 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 10,026 682 1,565 576 963 950 422 2,143 306 185 276 336 1,622 F. R. notes of other banks 750 71 221 47 37 72 59 31 22 25 25 33 107 Other cash 307 18 36 8 40 20 41 46 29 4 21 16 28 Discounts and advances 189 23 58 4 7 1 30 45 8 6 2 5 __ Acceptances: Bought outright 57 -- 57 -- -- -- -- -- -- -- -- __ -- Held under repurchase agreements 42 -- 42 -- -- -- -- -- -- -- -- -- -- Federal Agency obligations- Held under repurchase agreements 8 8 U- 13. Government securities: Bought outright-- Bills 19,023 989 4,574 976 1,467 1,421 1,037 3,138 681 383 789 820 2,748 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 Total bought outright 53,204 2 ,767 12,793 2 ,730 4,103 3,975 2,900 8,775 1,904 1, 071 2 ,206 2 ,293 7,687 Held under repurchase agreements 197 -- 197 -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 53,401 2 ,767 12,990 2 ,730 4,103 3,975 2,900 8,775 1,904 1 i 071 . 2 ,206 2 ,293 7,687 Total loans and securities 53,697 2 ,790 13,155 2 ,734 4,110 3,976 2,930 8,820 1,912 1, 077 2 ,208 2 ,298 7,687 Cash items in process of collection 12,234 740 2,058 717 991 994 1,028 2,052 674 433 783 679 1,085 Bank premises 115 i 3 10 2 5 10 19 18 8 3 19 9 9 Other assets 1/ 2,003 89 676 96 153 107 110 265 62 38 76 93 238 TOTAL ASSETS 79,132 | 4 ,393 17,721 4 ,180 6,299 6,129 4,609 13,375 3,013 1 ,765 3 =4 08 3 ,464 10,776 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

tl.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER 10, New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran \ 1 cisco (In millions of dol]L ars) L I A B I L I T I ES Federal Reserve notes 43,579 2,524 9,937 2,478 3,527 4,002 2,346 7,803 1,611 746 1,631 1,517 5,457 Deposits: Member bank reserves 21,977 1,017 5,160 941 1,654 1,086 1,232 3,379 746 557 945 1,237 4,023 U. S. Treasurer--general account 1,047 52 105 78 109 73 51 213 56 56 110 49 95 Foreign 136! 7 1/ 32 7 13 7 9 20 5 3 6 8 19 Other 486 2/440 1 13 1 2 2 2_ 25 Total jdejposit: s 23,646 1,076 5,737 1,027 1,776 1,179 1,293 3,614 807 616 1,063 1,296 4,162 Deferred availability cash items 10,158 707 1,603 534 847 847 863 1,691 535 364 640 558 919 Other liabilities and accrvt ed dividends 394 20 100 21 30 28 21 63 14 8 16 17 56 TOTAL LIABILITIES 77,777 4,327 17,377 4,110 6,180 6,056 4,523 13,171 2,967 1,734 3,350 3,388 10,594 CAPITAL ACCOUNTS Capital paid in 621 30 158 32 55 32 40 93 21 14 27 36 83 Surplus 598 29 154 32 54 31 38 37 20 14 26 34 79 Other capital accounts 136 i 7 32 6 10 10 8 24 5 3 5 6 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 79,132 4,393 17,721 4,180_ 6,299 _6_, 129 4,609 _13,J75_ 3,013 _1_,765_ 3 408 3,464 10,776 ; Contingent liability on ace: eptances purchased for forejL gn 1 118 6 3/ 30 6 11 6 7 17 4 3 5 7 16 correspondents FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 1 45,583 2,590 10,408 2,557 3,757 4,163 2,482 8,029 1,694 778 1,718 1,663 5,736 Collateral for F. R. notes Gold certificate account 4,068 330 500 300 600 600 350 1,000 206 27 155 Eligible paper U. S. Government securitiL es 42.751 2.301 10.000 ... 2,500 3.300 3.600 2,200 _JJL3fi_ --L57JL 77J„ _1,58JL_ 6 r OOO Total collateral 46,819 2,631 10,500 2,800 3,900 4,200 2,550 8,150 1,776 802 1,775 1,735 6,000 1/ After deducting $104 million participations of other Federal Reserve Banks, "2/ Includes IMF gold deposit. * Less than $500,000. 1/ After deducting $88 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis