H.4.1 Factors Affecting Reserve Balances of Depository Institutions

*V/O*GOW:' F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release January 26, 1967 The average of daily figures of total member "bank reserves held during the week ended January 25, increased a net of $3l4 million to $23,968 million. Estimated currency and coin of member banks decreased $97 million and their reserve balances at the Federal Reserve Banks increased $^-11 million. Estimated required reserves decreased $58 million; and estimated excess reserves increased $372 million to $^-91 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^7 million, compared with the revised net borrowed figure of $98 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $321 million in member bank borrowings, $109 million in U. S. Government securities bought outright, and a decrease of $1+37 million in currency in circulation. The principal offsetting changes were increases of $13^- million in Treasury deposits with Federal Reserve banks, and #98 million in "other" F. R. accounts (net), and a decrease of $106 million in U. S. Government securities held under repurchase agreements. Total Reserve Bank credit increased $197 million. As of Wednesday, January 25, I967, holdings of U. S. Government securi ties bought outright were $3^6 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $^7 million lower, and member bank borrowings were $77 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan, 25, Jan. 18, Jan. 26, Jan. 25, and related items 1967 L_..!967. 1966 „126I__ (in millions of dollars Reserve Bank credit: U. S. Government securities— Bought outright--System account ^3,9C6 +109 +3.696 ^3,950 Held under repurchase agreements 3^ -ic6 + 3^ 2^0 Federal Agency obligations— Held under repurchase agreements Acceptances- Bought outright 77 T_ 3 76 Held under repurchase agreements -- - 4o 72 — Discounts and advances- Member bank borrowings 538 +321 + 186 412 Other __ - 1 22 -- Float 2,026 - 85 - 59 1,629 Total Reserve Bank credit h6,58l +197 +3,765 46,307 Gold stock 13A58 -- - 575 13,159 Treasury currency outstanding 6,360 + 12 + 745 6,357 66,C99 +208 +3,935 65,823 Currency in circulation 43,567 -437 +2,330 43,469 Treasury cash holdings 1,234 + 13 + 395 1,246 Treasury deposits with F. R. Banks 699 +134 - 47 4i6 Foreign deposits with F. R. Banks 174 + 25 + 30 148 Other deposits with F, R. Banks 4io - 35 + 179 424 Other F. R. accounts (net) 307 + 98 - 174 345 ■46,389 -204 +2,711 1 Ji6,o4"H Member bank reserves: With Federal Reserve Banks 19,709 +4ll +1,224 19,776 Currency and coin (estimated) 4,259 - 97 + 293 4,663 Total reserves held 23,968 +314 +1,517 24,439 Required reserves (estimated) 23,477 - 58 +1,331 23,506 Excess reserves (estimated) 491 +372 + 186 • 933 On January 25, I967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,l86 million, an increase of $168 million for the week and a decrease of $83^ 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.- 25 Jan. 18, Jan. 26, IQ67 1Q67 1966 Gold certificate account 10,823 -- - 858 Redemption fund for F. R. notes 1,845 - 9 + 105 Total gold certificate reserves 12,668 - 9 - 753 Cash (1,099) 335 + 14 + 168 Discounts and advances 412 + 77 - 520 Acceptances: Bought outright 76 -- + 3 Held under repurchase agreements -- 37 - 73 Federal Agency obligations-- Held under repurchase agreements 2 U, S. Government securities: Bought outright-- Bills 12,098 + 3^6 +3,44o Certificates 4,351 -- +4,351 Notes 21,302 — -3,526 Bonds -6*122 -- - 351 Total bought outright ^3,950 + 3^6 +3,914 Held under repurchase agreements 240 - 47 + 240 Total U. S. Government securities 44,190 + 299 +4,15.4 Total loans and securities 44,678 + 337 +3,564 Cash items in process of collection (1,852) 7,008 -1, 166 + 597 Bank premises 108 + l + 5 Other assets l/ 1,044 - 90 + 245 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,951) 65,841 - 913 ±3i8§6_ L I A B I L I T I ES Federal Reserve notes (1,099) 38,201 359 +1,954 Deposits: Member bank reserves 19,776 + 553 +1,288 U. S. Treasurer--general account 4l6 - 192 - 324 Foreign 148 - 27 + 14 Other 2/ 424 - 3 + 188 5!2^§l^^§EOsits 20,764 + 331 +1,166 Deferred availability cash items (1,852) 5,37? - 924 + 586 Other liabilities and accrued dividends 224 + 1 + 56_ TOTAL LIABILITIES (2,95D 64,568 - 951 +3,762 C A P I T AL A C C O U N TS Capital paid in 572 1 + 17 Surplus 570 -- + 19 Other capital accounts 131 37 + 28 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.2$ - 3.7$ Contingent liability on acceptances purchased for foreign correspondents 174 + 6 + 38 * 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 jlepqsit^ MATHRITY DISTPIBUTION OF LOANS AND SECURITIES, JANUARY 25, 196.7 (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 Pi p-ency obligations M advance5 S ceptances Holdings Week ly.. c han ges Within 15 days 18 ~ 4o8~" " 2,056 +200 16 days to 90 days 58 4 8,509 +359 91 days to 1 year -- — 24,774 -262 Over 1 year to 5 years -- — 7,458 -- Over 5 years to lu years -- -- 991 -- Over 10 years ,- — 402 -- Total 76 412 44,190 +297 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h. l(b) STATEMENT OF CONDITION OF EACE FEDERAL RESERVE BANK CN JANUARY 25, 1967 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 10,823 695 2,377 528 788 928 1+66 1,855 1+11 21+6 1+58 5l4 1,557 Redemption fund for F. R. notes 1,81*5 101 i+i+2 96 15!+ 161 102 3^0 61+ 32 72 62 219 Total gold certificate reserves 12,668 796 2,819 621+ 91+2 1,089 565 2,195 1+75 278 530 576 1,776 F. R. notes of other Banks 1.C99 81 263 75 122 101 98 105 38 20 25 56 115 Other cash 335 12 38 8 55 19 1+1 ^9 31 9 16 19 38 Disccunts and advances 1+12 ^ 10 3 1 3 23 303 15 1 33 1 l4 Acceptances: Bought outright 76 — . 76 _ _ -. -- -- -- -- -- -- -- -.- Held under repurchase agreements — - — -- Federal Agency obligations-- Held under repurchase agreements — U. S. Government securities: Bought outright-- Bills 12,098 623 3,051 635 987 876 690 2,029 1+20 231 1+51+ 1+1+8 1,654 Certificates '+, 351 225 1,098 228 355 315 21+8 730 151 83 163 161 594 Notes ; 21,302 1,098 5,373 1,117 1,738 1,5^ l,2l4 3,573 7I+C i+c6 799 789 2,911 Bonds ! 6,199 319 1,564 325 506 i+1+9 353 l,ol+o 216 118 232 230 81+7 Total 43,950 2,265 11,056 2,305 3,586 3,184 2,505 " 7,372 1,527 838 1,648 1,628 6,006 Held under repurchase agreements 2l+0 — 240 — — -- -- -- -- -- -- -- __ —-——- — Total U. S. Government securities UU.190 11,326 2,305 3,586 3.181+ 2.505 7,372 .1,-52.7 8^8 1.61+8 —Ui2&_ 6, oc6 2,265 Total loans and securities M+,678 2,270 11,1+12 2,308 3,587 3,187 2,528 7,675 1,542 839 1,681 1,629 6,020 Cash items in process of ccllection 8,860 582 1,551 506 609 7ll+ 813 ^31 283 587 537 828 Bank premises 108 3 9 3 5 6 20 20 9 3 11 10 9 Cther assets l/ 1,C4J+ 1+2 1+26 1+1+ .7.2... 51 1+9 130 29 17 ^9 m TOTAL ASSETS 68,792 3,786 16,518 3,568 5,392 5,167 4,117 11,593 2,555 1,449 2,881+ 2,866 8,897 1/ Includes assess 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 OH JANUARY 25, \tfP i ! i 1 1 I San | New \ Phila- Cleve Rich St. Minne-j Kansas Total Boston Atlanta Chicago! 1 Dallas » Fran I York | delphia j land | mond 1 ! Louis apolis j City i cisco 1 1 i . ... i (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,300 2,350 9,112 2,248 3,250 3,603 2,222 7,112 1,440 695 1,472 1,247 4,549 Deposits: Member bank reserves 19,776 788 5,291 777 i,4oo 844 1,116 3,074 721 481 866 1,108 3,310 x U. S. Treasurer—general account 416 29 129 18 36 19 9 9 5 5 l 3^ 10b Foreign 148 7 1/ 41 8 13 8 9 21 5 3 8 19 Other 424 # 2/349 * 1 8 1 1 l 1 3 1 58 Total deposits 20,764 824 5,810 803 1,450 879 1,135 3,105 732 490 892 1,151 3,493 referred availability cash items 7,231 54o 1,205 439 561 600 670 1,150 331 231 457 388 659 Other liabilities and accrued dividends 224 11 60 11 18 16 13 37 8 4 8 9 29 TOTAL LIABILITIES 67,519 3,725 16,187 3,501 5,279 5,098 4,o4o 11,404 2,5H 1,420 2,829 2,795 8,730 CAPITAL ACCOUNTS Capital paid in 572 27 149 30 51 30 35 84 20 14 25 33 74 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 131 7 34 7 11 9 7 22 4 l 5 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,792 3,786 16,518 3,568 5,392 5,167 4,117 11,593 2,555 1,449 2,884 2,866 8,897 Contingent liability on acee ptances purchased for foreig n correspondents | 174 8 2./ ^ 9 16 9 11 25 6 4 8 10 23 FEDERAL RESERVE AGENTS' ACCOUNTS F\ R. notes outstanding 41,723 2,452 9,595 2,331 3,542 3,766 2,400 7,550 1,522 731 1,561 1,351 4,922 Collateral for F. R. notes: Gold certificate account 6,450 500 1,000 483 600 740 450 1,100 310 127 225 180 735 Eligible paper 2 2 U. S. Government securities 36,986 2,015 8,900 2,000 3,050 3,095 2,050 6,700 1,310 635 1,1*00 1,230 4,600 Total collateral 43,^38 2,516 9,900 2,485 3,650 3,835 2,500 7,800 1,620 762 1,625 i,4io 5,335 1/ After deducting $107 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000, i/ After deducting $129 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis