H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE , Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release October 31, 1968 The average of daily figures of total reserves held by banks during the week ending October 30 increased (net) $211 million to $26,670 million. There was a rise in currency and coin held by member banks, while reserves held with F. R. Banks declined moderately. Required reserves declined slightly, while excess reserves held by banks in the latest week rose to a level of $301 million. A sharp seasonal decline in float, absorbing reserves, was partially offset by a decline in currency in circulation. The System provided a moderate amount of reserves (net) through outright purchases of U. S. Government securities in the open market. In addition, member bank borrowing at Federal Reserve Banks increased to a level $162 million above the previous week, and borrowings exceeded excess reserves by $196 million compared with the revised figure of $353 million the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 30, Oct. 23, Nov. 1, Oct. 30, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 53,345 4-113 +6,125 53,362 Held under repurchase agreements 57 + 7 + 57 199 Federal Agency obligations-- Held under repurchase agreements Acceptances- Bought outright 56 - 1 57 Held under repurchase agreements - 2 Discounts and advances— Member bank borrowings 497 +162 4- 417 513 Other Float 1,655 -512 + 366 1,690 Total Reserve Bank credit 55,610 -240 +6,967 55,821 Gold stock 10,367 -- -2,611 10,367 Treasury currency outstanding 6,767 + 8 20 6,769 72,744 -232 +4,336 72,957 Currency in circulation 48,556 -146 +3,215 48,706 Treasury cash holdings 782 + 10 - 701 784 Treasury deposits with F. R. Banks 1,092 + 49 + 163 1,155 Foreign deposits with F. R. Banks 127 - 4 + 3 127 Other deposits with F. R. Banks 438 - 12 24 427 Other F. R. accounts (net) -382 - 5 - 172 -388 Member bank reserves: 50,613 -107 +•2,481 50,811 With Federal Reserve Banks 22,131 -125 +1,852 22,146 Currency and coin 4,539 +336 + 113 4,539 Total reserves held 26,670 +211 +•1,965 1 26,685 Required reserves 26,369 -108 +1,955 26,369 Excess reserves 301 +319 + 10 1 316 NOTE: A net of $2 million of surplus reserves were eligible to be carried forward from the week ended October 23, into the week ending October 30. On October 30, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,882 million, an increase of $197 million for the week. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STuTElIiii^T OF CONDIT [ON OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Oct. 30, Oct. 23, Nov.1, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 -- -2,383 * Cash (804) 287 8 74 Discounts and advances 513 - 590 + 362 Acceptances: Bought outright 57 • - + 3 Held under repurchase agreements 15 Federal Agency obligations-- Held under repurchase agreements 47 U. S, Government securities: Bought outright-- Bills 19,181 63 +4,444 Certificates Notes 28,424 +2,226 Bonds 5,757 -- - 864 Total bought outright 53,362 63 +5,806 Held under repurchase agreements 199 153 + 199 Total U. S. Government securities 53,561 - 216 +6,005 Total loans and securities 54,131 - 868 +6,370 Cash items in process of collection (2,211) 7,817 - 254 + 341 Bank premises 114 1 + 3 Other assets 2/ 2 116 + 42 + 378 J TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,015) 74,491 1,089 +4,635 L I A B I L I T I ES Federal Reserve notes (804) 42,667 +2,637 Deposits: Member bank reserves 22,146 904 +1,581 U. S. Treasurer--general account 1,155 124 + 247 Foreign 127 9 4 Other 3/ (2) 427 12 - 46 Total deposits (2) 23,855 801 +1, 778 Deferred availability cash items (2,209) 6,127 331 + 17 Other liabilities and accrued dividends 386 7 + 100 TOTAL LIABILITIES (3,015) 73,035 -1,141 +4,532 £ A I I 1 A L A C C O U N TS Capital paid in 621 — + 31 Surplus 598 + 28 Other capital accounts 237 4-52 4-44 Contingent liability on acceptances purchased for foreign correspondents 120 + 3 - 41 * Figures in parentheses are the eliminations made in the consolidating process. J7 Includes amount of gold certificates previously included in "Redemption fund for F. R. notes.fl 2/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 30, 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 advance Acceptances Holdings Weekly changes iS Within 15 days 508 13 3,004 -195 16 days to 90 days 5 44 14,660 - 19 91 days to 1 year -- ... 17,399 - 49 Over 1 year to 5 years --. • - 7,652 -- Over 5 years to 10 year•ss -- 10,235 -- Over 10 years • • -- 611 -- Total 3i3 57 53,561 -263 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 30, 1968 ! San New Phila Cleve Rich St, Minne Kansas Total Boston Atlanta Chicago J Fran York delphia land mond Louis apolis City Dallas cisco (In millions of dollars) A S S E TS Gold certificate account 10,026 676 2,238 634 809 923 388 2,154 334 155 281 328 1,106 F. R. notes of other banks 804 80 223 56 36 73 65 37 27 28 24 38 117 Other cash 287 16 34 7 37 18 40 41 29 4 19 15 27 Discounts and advances 513 24 167 9 34 24 45 117 26 15 13 9 30 Acceptances: Bought outright 57 57 _ - -. — «. _ - — — — » — __ m. m. mm m» Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 19,181 997 4,612 984 1,480 1,433 1,045 3,164 687 386 795 827 2,771 Certificates Notes 28,424 1 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 i 300 1,384 295 444 430 314 949 206 116 239 248 832 Total bought outright 53,362 | 2,775 12,831 2,738 4,116 3,987 2,908 8,801 1,910 1,074 2,212 2,300 7,710 Held under repurchase agreements 199 199 Total U, S. Government securities 53.561 _._2.,.725__ .13_,.Q3P_ 2.738 4.116 3.987 2.908 8.801 „1 J 9J_0_ _.l J)_74 _ _.._2_,.21_2__ 2 J 300_._ 7,710 __ Total loans and securities 54,131 j 2,799 13,254 2,747 4,150 4,011 2,953 8,918 1,936 1,089 2,225 2,309 7,740 Cash items in process of collection 10,028 679 1,719 573 778 784 859 1,659 511 347 644 591 884 Bank premises 114 3 10 2 5 10 19 17 8 3 19 9 9 Other assets 17 2.116 1 94 706 101 163 114 113 283 65 43 81 99 254 TOTAL ASSETS 77,506 j 4,347 18,184 4,120 5,978 5,933 4,437 13,109 2,910 1,669 3,293 3,389 10,137 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 OF OCTOBER 30, 1968 • San New Phila Cleve Rich St. Minne Kansas Total Boston Altanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 43,471 2,513 9,963 2,473 3,517 3,998 2,332 7,792 1,606 739 1,625 1,507 5,406 Deposits: Member bank reserves 22,146 1,065 5,736 992 1,535 1,080 1,206 3,484 740 526 943 1,256 3,583 U. S. Treasurer--general account I 1>155 46 297 97 87 60 49 156 84 55 98 41 85 Foreign 127 6 1/ 38 6 11 6 8 17 4 3 5 7 16 Other 429 __ 2/395 1 -- 9 1 2 1 1 2 -- 17 Total deposits 23,857 1,117 6,466 1,096 1,633 1,155 1,264 3,659 829 585 1,048 1,304 3,701 Deferred availability cash items 8,336 627 1,292 456 671 672 729 1,376 411 304 542 481 775 Other liabilities and accrued dividends 386 19 94 19 31 28 21 61 14 8 16 17 58 TOTAL LIABILITIES 76,050 4,276 17,815 4,044 5,852 5,853 4,346 12,888 2,860 1,636 3,231 3,309 9,940 CAPITAL ACCOUNTS Capital paid in j 621 30 158 32 55 32 40 93 21 14 27 36 83 Surplus ! 598 29 154 32 54 31 38 87 20 14 26 34 79 Other capital accounts 237 12 57 12 17 17 13 41 9 5 9 10 35 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 77,506 4,347 18,184 4,120 5,978 5,933 4,437_ 13,109 2,910 1,669 3,293 3,389 10,137 Contingent liability on ac<: eptances purchased for fore:L gn correspondents ! 120 6 3/ 31 6_ JL1 _6_ 8_ 17 4 3 5 7 16 FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 45,476 2,595 10,399 2,559 3,754 4,152 2,460 8,054 1,679 770 1,718 1,643 5,693 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 securities 42.951 2.301 10.200 2,500_ 3.300 3.600 2.200 7.150 1.570 775 1.775 1,580 6,000 Total collateral 47,019 2,631 10 700 2,800 3,900 4,200 2,550 8,150 1,776 802 1,775 1,735 6,000 s 1/ After deducting $89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Digitized for F3R/AS ERA fter-deducting $89 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis