H.4.1 Factors Affecting Reserve Balances of Depository Institutions

,^OjGOy/% F E D E R AL R E S E R VE Factors Affecting Bank Reserves and f Condition Statement of F.R. Banks For immediate release November 14, 1968 The average of daily figures of total reserves held by member banks increased $636 million to $26,984 million. Required reserves rose sharply, reflect ing the increase in U. S. Government demand deposits following the Treasury financing near the end of October. Excess reserves increased $233 million as banks accumulated sizeable reserve surpluses in the current week. Part of these surplus reserves will be eligible to be carried forward to the next statement week. A sharp seasonal increase in currency in circulation, absorbing reserves, was largely offset by a greater than seasonal rise in float. Nearly $700 million of additional reserves were provided through System Open Market operations and borrowings from the Federal Reserve. Member bank borrowings increased sharply to a level of $675 million, and borrowings exceeded excess reserves by $259 million, compared with the revised figure of $209 million the week before. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 13, Nov. 6, Nov. 15, Nov. 13, and related items 1968 1968 1967 1968 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 53,555 +261 +5,842 53,728 Held under repurchase agreements 172 + 84 + 19 Federal Agency obligations — Held under repurchase agreements 13 + 6 + 11 Acceptances- Bought outright 59 + 3 + 5 61 Held under repurchase agreements 27 + 27 + 27 Discounts and advances- Member bank borrowings 675 +283 + 513 156 Other Float 1,958 +305 + 471 1,810 Total Reserve Bank credit 56,459 +968 +6,889 55,755 Gold stock 10,367 -- -2,540 10,367 Treasury currency outstanding 6,786 + 10 + 4 6,788 73,612 +978 +4,353 72,910 Currency in circulation 49,314 +508 +3,436 49,561 Treasury cash holdings 764 - 10 - 706 754 Treasury deposits with F. R. Banks 1,036 - 43 60 807 Foreign deposits with F. R. Banks 132 + 17 1 139 Other deposits with F. R. Banks 456 - 4 + 5 607 Other F. R. accounts (net) -331 + 26 91 -496 51,370 +493 +2,581 51,372 Member bank reserves: With Federal Reserve Banks 22,242 +485 +1,772 21,538 Currency and coin 4,742 +151 + 513 4,742 Total reserves held 26,984 +636 +2,285 i 26,280 Required reserves 26,568 +403 +2,387 1 26,568 Excess reserves 416 +233 - 102 1 -288 NOTE: A net of $60 million of surplus reserves were eligible to be carried forward from the week ended November 6, into the week ending November 13. On November 13, 1968, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,403 million, an increase of $284 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 Nov. 13, Nov. 6, Nov. 15, 1968 1968 1967 A S S E TS Gold certificate account 1/ 10,026 -2,377 * Cash (562) 272 - 11 - 82 r Discounts and advances 156 - 378 + 10 Acceptances: Bought outright 61 + 2 + 7 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements 26 U. S. Government securities: Bought outright- Bills 19,547 + 253 +4,653 Certificates Notes 28,424 +1,620 Bonds 5.757 zs_ - 258 Total bought outright 53,728 + 253 +6,015 Held under repurchase agreements - 148 - 112 Total U S. Government securities 53,728 + 105 +5.903 g Total loans and securities 53,945 297 +5,915 Cash items in process of collection (1,965) 8,463 99 - 141 Bank premises 114 + 3 Other assets 2/ 2,124 30 + 696 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,527) 74,944 437 +4.014 L I A B I L I T I ES Federal Reserve notes (562) 43,458 + 358 +2,889 Deposits: Member bank reserves 21,538 - 183 +1,567 U. S. Treasurer--general account 807 - 237 - 376 Foreign 139 + 3 1 Other 3/ fiQZ + 173 + 151 Total deposits 23,091 244 +1,341 Deferred availability cash items (1,965) 6,653 381 - 412 Other liabilities and accrued dividends 406 + 111 TOTAL LIABILITIES (2,527) 73,608 267 +3,940 C A P I T AL A C C O U N TS Capital paid in 622 1 + 32 Surplus 598 + 28 Other capital accounts 116 169 + 14 Contingent liability on acceptances purchased for foreign correspondents 119 + 1 - 47 * Figures in parentheses are the eliminations made in the consolidating process. \) Includes amount of gold certificates previously includes in "Redemption fund for F. R. notes." 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 3/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 13, 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 Acc eptances Holdings Weekly ch.aageg, Within 15 days 152 12 7,714 -937 16 days to 90 days 4 49 9,764 +839 91 days to 1 year -- -« 17,752 +177 Over 1 year to 5 years -- «- 7,652 Over 5 years to 10 years .- 10,235 Over 10 years -- -- 611 Total 156 61 53,728 + 79 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 NOVEMBER 13, 1968 San New Phi la- Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York de lphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,026 660 1,778 704 871 875 487 1,857 372 123 320 286 1,693 F. R. notes of other banks 562 63 135 29 29 59 54 29 16 19 21 25 83 Other cash 272 14 32 5 36 18 39 36 28 4 19 15 26 Discounts and advances 156 13 21 26 s 10 14 22 c; 14 17 6 3 Acceptances: Bought outright 61 - - 61 «,- -- - - - - __ — m. Held under repurchase agreements _ _ -- Federal Agency obligations — Held under repurchase agreements .- U. S. Government securities: Bought outright- Bills 19,547 1 ,016 4,725 992 1,519 1,441 1,051 3,223 708 392 796 839 2,845 Certificates Notes 28,424 1 ,477 6,872 1 ,442 2,208 2,095 1,529 4,686 1 ,030 571 1 ,157 1 ,219 4,138 Bonds 5,757 299 1,392 292 447 424 310 949 209 116 234 247 838 T Total bought outright 53,728 2 f792 ™ 12',"9 89 ~2 ,726 4,174 3,960 ~2,890~ 8,858 ,947 1 ,079 2 ,187 2 ,305 7,821 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 53,728 2 ,792 12,989 2 ,726 4,174 3,960 2,890 8,858 I ,947 1 ,079 2 ,187 2 ,305 7,821 Tota 1 1 oans _and__securities 53,945 2 ,305 13,071 2 ,752 4,179 3,970 2,904 8,380 I ,952 1, 093 2 ,204 2 ,311 7,824 Cash items in process of collection 10,428 615 1,868 639 722 805 868 1,767 580 407 767 562 828 Bank premises 114 3 10 2 5 10 19 17 8 3 19 9 9 Other assets 1/ 2,124 95 705 104 162 115 112 286 66 41 81 100 257 TOTAL ASSETS 77,471 4 255 17,599 4 ,235 6,004 5,852 4,483 12,872 3 ,022 1 ,690 3 ,431 3 ,308 10,720 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 NOVEMBER 13, 1968 New Phila Cleve Rich St. Minne Kansas San 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 44,020 2,552 10,108 2,515 3,571 4,034 2,366 7,886 1,627 742 1,643 1,522 5,454 Deposits: Member bank reserves 21,538 889 5,194 833 1,588 979 1,221 3,148 791 545 941 1,185 4,224 U. S. Treasurer--general account 807 54 114 29 61 70 67 88 64 30 94 48 88 Foreign 139 6 1/ 42 7 12 7 8 19 5 3 6 7 17 Other 607 1 2/388 169 -- 9 1 1 2 2 3 31 * •> Total deposits 23,091 950 5,738 1,038 1,661 1,065 1,297 3,256 860 580 1,043 1,243 4,360 Deferred availability cash items 8,618 667 1,314 592 622 653 714 1,464 473 329 672 450 668 Other liabilities and accrued dividends 406 21 99 21 32 29 22 65 15 9 16 18 59 TOTAL LIABILITIES 76,135 4,190 17,259 4,166 5,886 5,781 4,399 12,671 2,975 1,660 3,374 3,233 10,541 CAPITAL ACCOUNTS Capital paid in 622 30 159 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 116 6 27 5 9 8 6 22 5 2 4 5 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 77.471 4.255 JLLSSI- 4.235 6.004 5.852 -3,483 _I2^822_ 3.022 1.690 3.431 3.308 10.720 Contingcat liability on ace: eptances purchased for forei- gn correspondent s 119 6 3/ 30 6 11 6 8 17 4 3 5 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 45,766 2,618 10,471 2,573 3,796 4,164 2,475 8,115 1,709 773 1,719 1,656 5,697 Collateral for F. R. notes: Gold certificate account 3,968 330 500 300 600 500 350 1,000 206 27 -- 155 -- Eligible paper -- __ -- -- -- -- -- -- -- -- -- -- -- U. S. Government securities 43,391 2.341 10.200 2.500 3,300 3,700 2.200 7,450 1,570 775 1.775 1.580 6.000 Total collateral 47,359 2,671 10,700 2,800 3,900 4,200 2,550 8,450 1,776 802 1,775 1,735 6,000 1/ After deducting $ 97 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000. 3/ After deducting $ 59 million participations, ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis