H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.■iSSSK** 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 February 2, 1967 Figures have been affected by the severe snowstorm in the midwest which delayed orderly processing of checks and increased the average level of "float" and "excess reserves" for the week. The average of daily figures of total member bank reserves held during the week ended February 1, decreased $111 million to $23,878 million. Estimated currency and coin of member banks decreased $56 million and their reserve balances at the Federal Reserve Banks decreased $55 million. Esti­ mated required reserves increased $59 million; and estimated excess reserves decreased $170 million to $330 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $154 million, compared with the revised net borrowed figure of $38 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $362 million in member bank borrowings, $208 million in U. S. Government securities bought outright, and $34 million in U. S. Government securities held under repurchase agreements, and an increase of $37 million in "other" F. R. accounts (net). The principal offsetting changes were an increase of $24l million in Federal Reserve float, and decreases of $220 million in currency in circulation, and $101 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $365 million. As of Wednesday, February 1, 1967, holdings of U. S. Government securities bought outright were $26l million lower than a week earlier, and member bank borrowings were $349 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 1, Jan. 25, I Feb. 2, Feb. 1, and related items 1967 1967 _L_1966_ 1967 (In millions "of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 43,698 -208 +3,399 43,689 Held under repurchase agreements - 34 - 249 Federal Agency obligations— Held under repurchase agreements Acceptances— Bought outright 75 + 2 74 Held under repurchase agreements - 38 Discounts and advances— Member bank borrowings 176 -362 - 242 63 Other - 21 , hm Float 2,267 +241 + 360 Total Reserve Bank credit "46,216 ^36*5 +3,211 45,559 Gold stock 13,159 + 1 - 573 13,159 A3JI Treasury currency outstanding 6,378 + 18 + 743 65,75^ +3,382 65,105 Currency in circulation 43,347 -220 +2,262 43,377 Treasury cash holdings 1,242 + 8 + 412 1,232 Treasury deposits with F. R. Banks 598 -101 - 236 594 Foreign deposits with F. R. Banks 138 - 36 - 40 152 Other deposits with F. R. Banks 431 + 21 + 196 431 Other F. R. accounts (net) 344 + 37 - 196 356 46,100 ^289 +2,397 46,142 Member bank reserves: With Federal Reserve Banks 19,654 - 55 + 985 18,964 Currency and coin (estimated) 4,224 + 355 4,469 Total reserves held 23,878 -ill +1,340 23>33 Required reserves (estimated) 23,548 + 59 +1,358 23,770 Excess reserves (estimated) 330 -170 - 18 -337 On February 1, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,205 million, an increase of $19 million for the week and a decrease of $562 million from the comparable date Digitizeda f ory FeRaArS EaRg o. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Feb. 1 Jan. 25, Feb. 2, ; 1967 1967 1966 A S S E TS Gold certificate account 10,838 +15 - 858 Redemption fund for F. R. notes 1,840 - 5, + 10Q Total gold certificate reserves 12,678 +10 - 758 Cash (l>076) 350 +15 + 182 Discounts and advances 63 ~3^9 - 552 Acceptances: Bought outright 74 - 2 +1 Held under repurchase agreements -- -- - 35 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 11,837 -261 +2,616 Certificates 4,351 +4,351 Notes 21,302 -3,526 Bonds 6,199 - 351 Total bought outright -261 43,689 Held under repurchase agreements -240 Total U. S, Government securities 43,689 -501 +2,644 Total loans and securities ^3,826 -852 +2,058 Cash items in process of collection (1/99D 7,165 +157 + 697 Bank premises 107 - 1 + 5 Other assets l/ 1,068 + 24 + 446 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS ((33,,006677)) 65,19^ -647 +2,630 L I A B I L I T I ES Federal Reserve notes (1,076) 38,090 -111 +1,871 deposits: Member bank reserves 18,964 -812 + 60 U. S. Treasurer--general account 594 +178 - 445 Foreign 152 + 4 - 15 Other 2/ 431 + 195 Total deposits 20,141 -623 - 205 Deferred availability cash items (1,991) 5,432 + 53 + 854 Other liabilities and accrued dividends 222 - 2 + 4l TOTAL LIABILITIES (3,067) +2,561 63,885 -683 C A P I T AL A C C O U N TS Capital paid in 573 + 1 + 18 Surplus 570 + 19 Other capital accounts 166 + 35 + 32 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages — not consolidated) 32.4 +- 2 3.6 Contingent liability on acceptances purchased for foreign correspondents 172 - 2 + 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 deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 1, 1967 (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 59 18 4,718 +2,662 16 days to 90 days k 56 5,615 -2,894 91 days to 1 year -- -- 24,505 - 269 Over 1 year to 5 years -- -- n ^Q Over 5 years to 10 years -~ -- 991 Over lu years -- -- 402 Total 63 7^ 43,689 - 50F Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(h) STATEMENT OF CONDITION OF FACE FSLEPAL ESGEWF; fiANK OK FiKP.^PT. 1, l^G' ' 1 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago 1 at • Minne- j Kansas Lallas Fran­ York delphia land mond ! Louis , apolis t City cisco ■ 1i (In millions of dollars) 1 A S S E TS Geld certificate account 10,838) j 641 2,627 644 850 925 622 1,887 434 192 4i6 ^53 1,147 Redemption fund for F. R. notes 1,840 101 44i 96 154 158 102 34o 64 32 72 62 218 Total gold certificate reserves 12,678|j 742 3,068 740 i,oo4 1,083 724 2,227 498 224 488 515 1,365 F. R. notes of other Banks 1,076 1 82 248 70 128 86 100 110 39 22 21 52 lie Other cash 350 ] 13 4i 10 57 20 42 50 32 9 17 20 39 Discounts and advances 1 n: 3 2 - 4 !, 17 5 6 12 # 4 63 Acceptances: ? Bought outright 1 1 -- 74 — — — " —" Held under repurchase agreements — — P Federal Agency obligations— j --{ " " Held under repurchase agreements J U. S-. -Government securities: L Bought outright-- Bills 11,837 | 629 3,c8l 6co 94i 874 648 1,815 417 231 464 474 1,663 Certificates ^351 231 1,133 220 3h6 321 239 667 153 85 170 175 611 Notes 21,302 1,132 5,5^5 1,079 1,694 1,573 1,167 3,266 750 4i5 835 854 2,992 Bonds 6,199[ 330 l,6i4 314 493 457 340 950 218 121 243 248 871 Total ^3,689 i2,322 11,373 2,213 3 ,^ 3,225 2,394 6,698 1,538 852 1,712 1,751 6,137 Held under repurchase agreements Total U. S. Government securities 43,689 J 2,322 11,373 2,213 3,474 3,225 2,394 6,698 1,538 852 1,712 1,751 6,137 Total loans and securities 43,826 2,327 11,450 2,215 3,^75 3,229 2,398 6,715 1,5^3 858 1,724 1,751 6,l4i Cash items in process of collection 9,l56i 583 1,5^0 516 672 707 739 1,7^7 447 289 587 489 80C Bank premises 107 3 9 3 5 6 20 19 9 3 11 10 9 Cther assets l/ : 1,0681 44 436 h5 71 55_ 126 30 18 35 4i 117 50 TOTAL ASSETS 68,261 3,79^ 16,832 3,599 5,412 5,186 10,994 2, 5.08 1,423 2,883 2,878 &,589 b, 073 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * I^ss than $*C0,COC. 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 ON FEBRUARY 1, 1967 i San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Dallas Fran­ York delphia land mond 1Chicago Louis apolis City cisco .... (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,166 2,343 9,076 2,233 3,234 3,596 2,215 7,098 1,434 691 1,472 1,242 4,532 Depositst Member bank reserves 18,964 783 5,634 817 1,402 848 l,08l 2,280 709 450 84o 1,107 3,013 U. S. Treasurer--general account 45 29 46 35 43 63 34 26 55 49 94 Foreign 152 7 1/ 44 8 13 8 9 21 5 4 6 8 19 Other ^31 -* 2/356 1 l 9 2 2 1 # 3 1 55 Total deposits 20,l4l 835 6,109 855 1,462 900 1,135 2,366 749 480 904 1,165 3,181 Deferred availability cash items 7,423 54i 1,247 432 583 603 632 1,301 362 217 442 389 674 Other liabilities and accnl ed dividends 222 12 60 10 18 16 12 34 8 5 8 9 30 TOTAL LIABILITIES 66,952 3,731 16,492 3,530 5,297 5,H5 3,994 10,799 2,553 1,393 2,826 2,805 "'3,417 CAPITAL ACCOUNTS Capital paid in 573 27 149 30 51 30 35 84 20 14 26 33 74 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 166 9 43 9 13 11 9 28 5 2 6 7 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,261 3,794 16,832 3,599 5,412 5,186 4,073 10,994 2,598 1,423 2,883 2,878 8,589 Contingent liability on acee ptances purchased for forei■ gn correspondents ^ 172 8 1/ 45 9 15 9 11 25 6 4 8 10 22 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,440 9,598 2,316 3,519 3,745 2,381 7,502 1,513 725 1,549 1,345 4,893 Collateral for F. R. notes: Gold certificate account 500 1,000 483 600 740 450 l,4oo 310 127 225 180 735 Eligible paper l U. S. Government securities 2,016 8,900 2,000 3,000 3,035 2,050 6,150 l,310 635 l,4oo 1,230 4,600 Total collateral 2,516 9,900 2,484 3,600 3,775 2,500 7,550 1,62c 762 1,625 1,410 5,335 1/ After deducting $108 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $127 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis