H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.lf.l February 9, 1967 The average of daily figures of total member bank reserves held during the week ended February 8, decreased a net of $^9 million to $23,856 million. Estimated currency and coin of member banks decreased $^51 million and their reserve balances at the Federal Reserve Banks increased $402 million. Estimated required reserves decreased $32 million; and estimated excess reserves decreased $17 million to $308 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^5 million, the week before they were $1^-9 million less than excess reserves. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $230 million in U. S. Government securities bought outright, $2(A million in U. S. Government securities held under repurchase agreements, and $177 million in member bank borrowings, and a decrease of $150 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $250 million in Federal Reserve float. Total Reserve Bank credit increased $^1^ million. As of Wednesday, February 8, 1967, holdings of U. S. Government securi­ ties bought outright were $298 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $551 million higher, and member bank borrowings were $76^ million higher. Average of daily figures Member bank reserves, Week ended !Change from week ended Wednesday, Reserve Bank credit, Feb. 8, i Feb. 1, Feb. 9, Feb. 8, and related items 1967 1 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 1+3,928 +230 +3,220 ^3,987 Held under repurchase agreements 204 +204 - 205 551 Federal Agency obligations- Held under repurchase agreements 3 Acceptances- Bought outright 76 + 1 4 76 Held under repurchase agreements 50 + 50 8 50 Discounts and advances— Member bank borrowings 353 +177 - 150 827 Other 1 + 1 - 19 -- Float 2,017 -250 + 346 2,342 Total Reserve Bank credit 116,630 +4l4 +3,205 j 4f,836 Gold stock 13,159 — - 575 13,159 Treasury currency outstanding 6,392 + l4 + 746 6,39^ 66,181 +1+27 +3,376 67,389 Currency in circulation 1+3,2+05 + 58 +2,209 1+3, 596 Treasury cash holdings 1,252 + 10 + 419 1,262 Treasury deposits with F. R. Banks 448 -150 - +31 1+89 Foreign deposits with F. R. Banks lU-5 + 7 7 135 Other deposits with F. R. Banks ^82 + 51 + 247 448 Other F. R. accounts (net) 393 + 49 - 320 1+38 46,125 + 25 +2,117 46,368 Member bank reserves: With Federal Reserve Banks 20,056 +14-02 +1,260 21,021 Currency and coin (estimated) 3,800 -451 + 273 4,113 Total reserves held 23,856 - 4 9 +1,533 25,134 Required reserves (estimated) 23,548 - 32 +1,569 . 23,468 Excess reserves (estimated) 308 - 17 - 36 1 1,666 On February 8, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,275 million, an increase of $70 million for the week and a decrease of $631 million from the comparable date a year a^o. 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 Feb. 8, Feb 1, Feb. 9, 1067 1067 , 1Q66 A S S E TS Gold certificate account 10,838 - 858 ._ Redemption fund for F. R. notes 1.834 6 + 103 Total gold certificate reserves 12,672 - 6 - 755 Cash (915) 3^7 3 + 175 Discounts and advances 827 + 764 + 384 Acceptances: 76 + 2 + 3 Bought outright 50 50 • lk Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 12,135 *" 298 +2,836 Certificates 4,351 " +^351 Notes 21,302 — -3,526 Bonds 6,199 n - 351 Total bought outright 43,987 + 298 +3,310 Held under repurchase agreements 551 + 551 + 164 Total U. S. Government securities 44,538 + 849 +3»4?4 Total loans and securities 45 £94 +1,668 +3,878 Cash items in process of collection (l,ll6) 7,151 14 + 913 Bank premises 107 -- + 5 Other assets l/ l,04l 27 + 396 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,031) 66,812 +I,6l8 +4,6l2 L I A B I L I T I ES Federal Reserve notes (915) 38,324 ■ 234 +1,943 Deposits: Member bank reserves 21,021 +2,057 +2,757 U. S. Treasurer--general account 489 - 105 - 436 Foreign 135 - 17 7 Other 2/ 448 + 17 + 214 Total deposits ,093 +1,952 +2,528 22 Deferred availability cash items (l,ll6) 4,809 - 623 + 9 Other liabilities and accrued dividends 24l + 19 ± 5.5 TOTAL LIABILITIES (2,031) 65,467 +1,582 +4,535 C A P I T AL A C C O U N TS Capital paid in 573 17 Surplus 570 • 19 Other capital accounts 202 36 41 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.3 .1* - 3.6$ Contingent liability on acceptances purchased for foreign correspondents 181 + 9 + 43 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 8, 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 823 67 5,287 +569 16 days to 90 days 4 59 5,700 + 85 91 days to 1 year ~~ — 24,703 +198 Over 1 year to 5 years — — 7,458 Over 5 years to 10 years — -- 991 Over 10 years „ „ 1IQ2 Total 827 126 44,541 7852 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1967 San Total Boston New Phila-i Cleve Rich Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account j 10,838 < 588 1,978 64o 895 932 602 2,339 342 260 426 431 1,405 Redemption fund for F. R. notes .301. 15..4_„. ._15k __1Q2. 3ko_ 63- __32~. .—32- £i- —218.- Total gold certificate reserves j 12,672; 689 2,4i9 736 1,049 1,086 704 2,679 405: 292 498 492 1,623 F. R. notes of other Banks 75 217 62 122 73 86 88 26 17 20 48 81 Other cash 1 915 i 12 4o 9 57 20 ^3 50 17 20 38 32 Disccunts and advances 1 827^ 22 125 6 15 30 313 33 9 218 Acceptances: 45 Bought outright ! 76; 76 Held under repurchase agreements 50 Federal Agency obligations— Held under repurchase agreements I 3! U. S. Government securities: Bought outright-- Bills I 12,135 646 3,159 615 964 896 664 1,860 427 237 476 486 1,705 Certificates 4,351 231 1,133 220 346 321 239 667 153 85 170 175 611 Notes ! 2l,302 1,132 5,545 1,079 1,694 l, 573 1,167 3,266 750 4l5 835 854 Bonds _3lL ™.Ji9X JiZL. ..._34o. ..__2£0 2lJ3. 121 .....243. _2lg. ., 2 .„ , .. 9 a 9 z 2 i- .. Total 43,987 2,339 11,451 2,228 3,497 2,410 6,743 1,546 858 1,724 1,763 Held under repurchase agreements 55lJ --. 3,247 6,179 Total U. S. Government securities iiji'Og 2,228 JJ-21....1.24J 2^410 6^..jL^J|e__^_.85S_-Jul2k.._. i-tTil. 6,179 Total loans and securities j 45,494, 2,361 12,256 2,231+ 3,503 3,262 2,44o 7,056 1,593 863 1,757 1,772 6,397 Cash items in process of ! collection \ 8,267 4i3 1,647 454 587 656 672 l,378 437 254 534 438 797 Bank premises I 107 3 9 3 5 6 20 19 9 3 11 10 9 Other assets l/ ! 2^£k1. 1 42 4.29 _I0_ 4j 122 -.17... 114 TOTAL ASSETS 68,843! 3,595 17,017 3,543 5,393 5,156 4,012 11,392 2,531 1,455 2,871 2,819 9,059 l/ 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 ON FEBRUARY 8, 1967 I 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) L I A B I L I T I ES 1 Federal Reserve notes 39,239 2,344 9,111 2,232 3,232 3,598 2,228 7,104 1,436 691 1,476 1,243 4,544 Deposits: Member bank reserves 21,021 809 6,127 861 1,510 928 1,121 2,984 690 495 885 l,io4 3,507 U. S. Treasurer--general account 489 47 , 98 41 28 63 17 13 19 12 34 37 80 Foreign 135 7 1/ 28 8 13 8 9 21 5 3 6 8 19 Other 448 1 2/364 1 * 8 3 2 1 1 3 1 63 Total deposits 22,u93 864 6,617 911 1,551 1,007 1,150 3,020 715 511 928 1,150 3,669 Deferred availability cash items 5,925 311 865 318 473 461 540 1,032 327 217 4oo 343 638 Other liabilities and accrued dividends 241 11 74 11 18 17 13 36 7 5 9 9 3.1 TOTAL LIABILITIES 67,498 3,530 16,667 3,472 5,274 5,083 3,931 11,192 2,485 1,424 2,813 2,745 8,882 CAPTIAL ACCOUNTS Capital paid in 573 27 149 30 51 30 35 84 20 14 26 33 74 Surplus 570 i 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 202 11 53 11 17 13 11 33 6 3 7 8 29 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,843 3,595 17,017 3,543 5,393 5,156 4,012 11,392 2,531 1,455 2,871 2,819 9,059 Contingent liability on accept­ ances purchased for foreign correspondents 181 9 3/ *7 9 16 10 11 26 6 4 8 11 24 FEPERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,371 2,433 9,590 2,305 3,508 3,729 2,368 7,469 1,505 721 1,539 1,336 4,868 Collateral for F. R. notes: Gold certificate account 6,750 500 1,000 483 600 74o 450 i,4oo 310 127 225 180 735 Eligible paper l 1 U. S. Government securities 36,326 2,016 8,900 2,000 3,000 3,o35 2,050 6,150 1,310 635 l,4oo 1,230 4,6oo Total collateral 43,077 2,516 9,900 2,484 3,600 3,775 2,500 7,550 1,620 762 1,625 l,4io 5,335 l/ After deducting ^107 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than ^500,000. 3/ After deducting $l^k million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis