H.4.1 Factors Affecting Reserve Balances of Depository Institutions

R E S E R VE F E D E K AL Factors Affecting Bank Reserves and ''?f^L«$£- Condition Statement of F.R. Banks H.4.1 For immediate release January 5, 196j • The average of daily figures of total member bank reserves held during the week ended January 4, increased $4l9 million to $24,595 million. Estimated currency and coin of member banks increased $280 million and their reserve" balances at the Federal Reserve Eanks increased $139 million. Estimated required reserves increased $497 million; and estimated excess reserves decreased $78 million to $377 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $188 million, compared with the revised net borrowed figure of $93 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks was an increase of $434 million in U. S. Government securities bought outright, and decreases of $l4k million in "other'' F. R. accounts (net), and $117 million in currency in circulation. The principal offsetting changes were decreases of $284 million in Federal Reserve float, and $152 million in U. S. Government securities held under repurchase agreements, and an increase of $104 million in other deposits with F. R. Banks. Total Reserve Bank credit increased $23 million. As of Wednesday, January 4, 1967, holdings of U. S. Government securities bought outright were $657 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $672 million lower, and member bank borrowings were $758 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended[Wednesday, Reserve Bank credit, Jan. 4, Tec. 28, Jan. 5> Jan. 4, and related items 1967 1966 19J" 1967 (In millions of dollars) Reserve Bank credit: U, G. Government securities-- Bought outright—System account 43,697 +434 +3,090 43,920 Held under repurchase agreements 506 -152 + 83 Federal Agency obligations-- Held under repurchase agreements 27 27 Acceptances- Bought outright 71 2 3 79 Held under repurchase agreements 132 17 21 148 Discounts and advances— Member bank borrowings 565 + 17 3 199 Other 1 - 10 - 37 Float 2,493 -284 + 127 2,358 Total Reserve Bank credit 47,491 + 23 +3,310 46,704 Gold stock 13,159 - 574 13,159 Treasury currency outstanding 6,308 + 11 + 725 6,308 +3,^61 SoTm 63795^ Currency in circulation 44,656 -117 +2,603 44,624 Treasury cash holdings 1,206 + 15 + 4l8 1,211 Treasury deposits with F. R. Banks 375 + 23 - 237 267 Foreign deposits with F. R. Banks 167 + 13 + 1 153 Other deposits with F. R. Banks 529 +104 + 234 446 Other F. R. accounts (net) -92. -144 - 438 .30 46,842 -105 +2,582 467571 Member bank reserves: 19,^00 + 879 With Federal Reserve Banks 20,ll6 +139 Currency and coin (estimated) 4,479 +2"° + 44166 4,714 +1,325 247214 Total reserves held 24,595 +4l9 +1,267 24,290 Required reserves (estimated) 24,218 + I + 58 -76 Excess reserves (estimated) 377 - 7° On January 4, 1967, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign aceout were $7,113 million, a decrease of $529 million for the week and a decrease of rf;5P7, million from the comparable date a year ago. 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) Change since Jan. 4, Dec. 28, Jan. 5> 1967 1966 I966 A S S E TS Gold certificate account 10,823 - 13 - 879 Redemption fund for F. R. notes 1,853 + 11 + 121 Total gold certificate reserves 12,676 - 2 - 758 Cash (856) 291 - 4 + l6l Discounts and advances 199 -758 - 481 Acceptances: Bought outright 79 + 10 + 6 Held under repurchase agreements 148 + 35 + 29 Federal Agency ohligations— - 51 Held under repurchase agreements U. S. Government securities: Bought outright— Bills 12,068 +657 +2,6l4 Certificates 4,351 +4,351 Notes 21,302 -3,526 Bonds 6,199 - 351 Total bought outright 43,920 +657 +3,088 Held under repurchase agreements -672 - 658 Total U. S. Government securities 43,920 - 15 +2,430 Total loans and securities 44,346 -779 +1,984 Cash items in process of collection ,976) 8,170 +190 +1,095 Bank premises 107 + 4 Other assets l/ 1,323 - 53 + 598 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2.,883322)) 6666,,991133 ^648_ +3,084 L I A B I L I T I ES Federal Reserve notes (856) 39,335 -326 +2,268 Deposits: Member bank reserves 19,500 -470 - 877 U. S. Treasurer—general account 267 + 18 + 180 Foreign 153 - 15 10 Other 2/ 446 ±_3i + 178 Total deposits 20,366 -436 - 529 Deferred availability cash items (1,976) 5,812 +255 +l,26l Other liabilities and accrued dividends 240 - 16 + 48 TOTAL LIABILITIES (2,832) 65,753 -523 +3,048 £ ■ £ £ I £ £ L A C C O U N TS Capital paid in 570 + 18 Surplus 570 + 19 + 19 Other capital accounts 20 -144 1 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.5* +1-5& - 3.9% Contingent liability on acceptances purchased for foreign correspondents 185 - 7 + 43 * Figures in parentheses are the eliminations made in the consolidating process, l/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. ~ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 4, I967 (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 advances Acceptances Holdings Weekly changes Within 15 days 196 1ST 984 -909 16 days to 90 &ays 3 63 8,9^5 +316 91 days to 1 year — — 25,l4o +527 Over 1 year to 5 year>ss — 7,458 — Over 5 years to 10 yejaarrss -- 991 — Over 10 years -- — 402 — Total 199 227 43,920 - 66 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(V DATEMENT OF CCNIITICN OF FACE FELERAL RESERVE BANK CN JANUARY 4, 1967 San New Phila­ Cleve­ Rich­ St. Minne- Kansas Total Boston Atlanta (Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions3 of dollars) A S S E TS Gold certificate account 10,823 507 2,343 551 74l 963 610 2,284 443 163 464 454 1, 300 Redemption fund for F. R. notes 1,853 102 444 96 155 162 103 341 64 32 72 62 220 Total gold certificate reserves 12,676 609 2,787 647 896 1,125 713 2,625 507 195 536 516 1,520 F. R. notes of other Banks 856 59 203 44 95 81 85 80 31 24 23 43 88 Other cash 291 9 28 6 49 16 37 46 31 0 13 17 31 Discounts and advances 199 13 2 C 12 93 4 10 # 45 Acceptances: Bought outright 79 79 -- -- Held under repurchase agreements l48 148 Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright Eills 12,068 643 3,062 633 984 874 634 2,024 4l2 249 459 440 1,654 Certificates 4,351 232 1,103 228 355 315 229 730 149 89 166 159 596 Notes 21,302 1,135 5,404 1,117 1,738 1,544 1,119 3,573 727 438 810 777 2,920 Bonds 6,199 330 1,573 325 506 449 326 i,c4o 212 127 236 226 849 Total 1+3,920 2,340 11,142 2,303 3,583 3,182 2,308 7,367 1,500 903 1,671 1,602 6,019 Held under repurchase agreements Total U. S. Government securities ^3,920 2,340 11,l42 2,303 3,583 3,182 2,308 7,367 1,500 903 1,671 1,602 6,019 Total loans and securities 44,346 2,343 11,382 2,306 3,585 3,187 2,320 7,46c 1,504 912 1,681 1,602 6,c64 Cash items in process of collection 10,l46 595 1,863 589 663 807 849 1,663 534 328 693 523 1,039 Bank premises 107 3 9 3 5 6 20 20 8 3 11 10 9 Other assets l/ 1,323 54 503 60 97 64 64 166 38 25 47 56 149 TOTAL ASSET'S 69,745 3,672 16,775 3,655 5,390 5,286 4,088 12,060 2,653 1,495 3,cc4 2,767 8,900 1/ Includes assets denominated in foreign currencies and IMF geld deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) SBSEEMEWP OF CONDITION OF EACH FEDERAL RESERVE BANK ON JAKUARY 4, I967 I , 1 r T f 1 San 1 New Cleve­ ! Rich- St. Kansas { Phila-j Total i Boston j York j delphia i land j i mond Atlanta Chicago Louis Minne-j City ■ 1 Dallas i j F c r i a s n c - o (In m 1 illions of dollars) apolis i L I A B I L I T I ES Federal Reser\e notes 40,191 2,392 9,259 2,304 3,316 3,685 2,318 7,289 1,469 707 1,502 1,275 4,675 Deposits: Member bank reserves 19,500 615 5,4o3 758 1,346 858 989 3,l8o 706 506 907 1,090 3,136 U.S. Treasurer--general account 267 4 1 26 18 24 19 49 27 10 35 25 29 Foreign 153 7 1/ 50 8 13 7 8 20 5 3 6 8 18 Other 446 l 2/382 * * 4 2 1 1 * 4 1 5^ Total deposits 2u,366 627 5,836 792 1,377 893 1,018 3,256 739 519 952 1,124 3,233 deferred availa bility cash items 7,788 586 1,316 487 573 63w 668 l,3u6 397 236 490 292 807 Other liabilities and accrued dividends 24„ 12 62 11 20 1 T 13 4u 8 5 Q 9 34 TOTAL LIABILITIES 68,585 3,617 16,473 3,594 5,266 5,225 4,. 17 11,891 2,613 1,^67 2,953 2,7^0 8,749 CAPITAL ACCOUNTS Capital paid in 570 27 148 30 51 30 35 83 20 14 25 33 74 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 20 1 6 l 2_ 1 1 3_ * 1_ 1 3 _L TOTAL LIABILITIES MI- CAPITAL ACCOUNTS 69,7^5 3,672 16,775 3,655 5,390 5,266 4,088 12,060 2,653 1,495 8,900 ~~.._ >>.iiii 3,-^04 Contingent liability on accept­ ances purchased for foreign correspondents 185 9 3/ ^9 10 17 9 11 27 6 4 11 24 FEDERAL RESERVE AGENT'S ACCOUNTS 8 F. R. notes outstanding 42,244 2,489 9,703 2,359 3,577 3,811 2,456 7,652 1,542 741 1,562 1,3^9 4,963 Collateral for F. R. notes Ciold certificate account 6,450 500 1,000 483 600 74o 450 1,100 310 127 225 180 735 Eligible paper 5 1 4 U. S. Government securities 37,016 2,016 8,900 2,000 3,050 3,105 2,050 6,700 1,310 655 i,4oo 1,23c 4,6co Total collateral 43,471 2,516 9,900 2,484 3,650 3,845 2,500 7,800 1,624 782 1,625 1,410 5,335 1/ After deducting $103 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,OCC, Digitized for3 F/R AASfERt er deducting $136 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis