H.4.1 Factors Affecting Reserve Balances of Depository Institutions

■V&S8&-. 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 l6, 1967 The average of daily figures of total member bank reserves held during the week ended February 15, decreased a net of $180 million to $23,697 million. Estimated currency and coin of member banks increased $l47 million and their reserve balances at the Federal Reserve Banks decreased $327 million. Estimated required reserves decreased $294 million; and estimated excess reserves increased $ll4 million to $430 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $26 million, compared with the revised figure of $37 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $97 million in Federal Reserve float, and increases of $209 million in currency in circulation, and $256 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $103 million in member bank borrowings, $59 million in U. S. Government securities bought outright, and $46 million in U. S. Government securities held under repurchase agreements, and a decrease of $46 million in other deposits with Federal Reserve Banks. Total Reserve Bank credit increased $117 million. As of Wednesday, February 15, 1967, holdings of U. S. Government securi ties bought outright were unchanged from a week earlier, U. S. Government securities held under repurchase agreements were $192 million higher, and member bank borrowings were $463 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 15, Feb. H, Feb. 16, Feb. 15, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 43,987 + 59 +3,^5 ^3,987 Held under repurchase agreements 250 + 46 - 17 I 7+3 Federal Agency obligations- Held under repurchase agreements 7 + 6 7 I 48 Acceptances— ! Bought outright 77 + 1 4 j 78 Held under repurchase agreements 50 -- 14 Discounts and advances- f Member bank borrowings 456 +103 + 3 ; 364 Other -- - 1 20 Float 1,920 - 97 + 181 1 1,612 Total Reserve Bank credit 46,7U7 +117 146,881 +3,617 Gold stock 13,159 -- 13,159 - 57^ Treasury currency outstanding 6,402 + 10 6,iao + 755 66,308 +127 +3,797 '66,450 Currency in circulation 43,6l4 +209 +2,331 143,674 Treasury cash holdings 1,260 + 8 + 427 i 1,262 Treasury deposits with F. R. Banks 704 +256 - 206 I 64i Foreign deposits with F. R. Banks l4i - 4 + 6 127 Other deposits with F. R. Banks 436 - 46 + 200 427 Other F. R. accounts (net) 423 + 30 - 322 ,, , 565 46,579 +454 +2,436 IS67396" Member bank reserves: With Federal Reserve Banks 19,729 -327 +1,36l !19,75^ Currency and coin (estimated) 3,968 +147 + 183 I 4,515 Total reserves held 23,697 ^T8~6 +1,544 j24,269 Required reserves (estimated) 23,267 -294 +1A51 123,3*6 Excess reserves (estimated) 430 +114 + 93 i 926 On February 15, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,371 million, an increase of $96 million for the week and a decrease of $467 million from the comparable date a year ago. Digitized for FRASER 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. 15, Feb. 8, Feb. 16, 1Q67 1Q67 1Q66 A S S E TS Gold certificate account 10,8^3 + 5 - 85I Redemption fund for F. R. notes 1,831 - 2 + 106 Total gold certificate reserves 12,674 2 - 745 Cash (837) 353 6 + 165 Discounts and advances 36^ 463 - 380 Acceptances: Bought outright 78 2 + 5 Held under repurchase agreements 1+9 1 + 16 Federal Agency obligations- Held under repurchase agreements kQ k$ kQ U. S. Government securities: Bought outright— Bills 12,135 — +3,293 Certificates M5l — +4,351 Notes 21,302 — -3,526 Bonds 6,199 -- - 351 Total bought outright ^3,987 __ +3,767 Held under repurchase agreements 743 + 192 + 743 Total U. S. Government securities 44,730 + 192 +4,510 Total loans and securities 45,269 - 225 +M99 Cash items in process of collection (1,880) 8,032 + 881 + 481 Bank premises 107 — + 5 Other assets l/ 788 - 253 + 4oi TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,721) 67^223 + 411 +4,506 L I A B I L I T I ES Federal Reserve notes (837) 38,394 70 +2,05^ Deposits: Member bank reserves 19,754 -1,267 +1,855 U. S. Treasurer--general account 641 + 152 - 278 Foreign 127 8 12 00 Other 2/ 427 - 21 + 178 Total deposits 00 20,949 -1,144 +1,743 Deferred availability cash items (1,880) 6,420 +1,611 + 613 Other liabilities and accrued dividends 238 - 3. + 4_2 TOTAL LIABILITIES (2,721) 66,001 + 534 +4,457 C A P I T AL A C C O U N TS Capital paid in 57^ l + 18 Surplus 570 — + 19 Other capital accounts 78 124 + 12 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.3 - 3.6% Contingent liability on acceptances purchased for foreign correspondents 182 + 1 + 46 * 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 15, 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 Agei icy obligations advances Acceptances Holdings Weekly changes Within 15 days 360 73 2,608 -2,679 16 days to 90 days k 5^ 11,715 +6,015 91 days to 1 year — — 19,1^7 -5,556 Over 1 year to 5 year•ss -- 10,053 +2,595 Over 5 years to 10 yejaarrss — 853 - 138 — — 402 — Over 10 years Total 364 I27 W,iT8 +~~237 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 FEBRUARY 15, 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 10,843 ■ 497 2,387 704 832 984 523 1,970 457 181 4o4 4oo 1,504 Redemption fund for F. R. notes 101 44i 95 154 151 102 3^0 64 32 72 61 218 Total gold certificate reserves !l2,674 j 598 2,828 799 986 1,135 625 2,310 521 213 476 461 1,722 F. R. notes of other Banks i 8371 66 196 52 115 67 84 78 23 13 19 47 77 Other cash 353 i 12 4o 10 58 20 43 53 32 9 17 20 39 Discounts and advances 364 65 61 5 10 10 20 129 21 2 18 4 19 Acceptances: Bought outright 78 78 ""*"" — — "*~ Held under repurchase agreements 49 h9 :: " — mm " " M — :: Federal Agency obligations— Held under repurchase agreements 48 48 U. S. Government securities: Bought outright-- Bills 12,135 646 3,057 615 964 896 701 2,014 427 259 472 471 1,613 Certificates 4,351 231 1,096 220 3^6 321 252 722 153 93 169 169 579 Notes 21,302 1,132 5,366 1,079 1,694 1,573 1,231 3,534 750 456 828 828 2,831 Bonds 6,199. 330 1,562 31^ ^93 4-57 358 1,Q28_ 2i8_ 133 24i 24i 824 Total T&987 2,339 11,081 2,228 ~T7W( 3,247 2,542 7,298 1,548 94i 1,710 1,709 5,847 Held under repurchase agreements 7^3 7^3 Total U. S. Government securities 824 ..2^28„___aJ±2Z__3*24j 2,542 X>29fi 1„5.48_ _2i£] l^OQ 1,709 5,8jff. Total loans and securities 2,4o4 12,060 2,233 3,507 3,257 2,562 7,427 1,569 943 1,728 1,713 5,866 ; Cash items in process of 1 , collection 598 1,859 607 712 767 864 1,760 475 282 584 53b 874 Bank premises ;I 9,191067 1] 3 9 3 5 6 20 19 9 3 11 10 9 Other assets l/ ! 788 | 28 366 30 50 35 3^ 85 20 13 24 28 75 TOTAL ASSETS \69j9kk J3., 709 17,358 3,73^ 5,^33 5,287 4,232 11,732 2,649 1,1*76 2,859 2,813 8,662 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 ON FEBRUARY 15, 1967 1 Total Boston New Phila-j Cleve j Rich Atlanta ^ f St. Minne Kansas 1 F S r a an n Dallas York delphia land mond 1C hicag°o 1L ouis apolis City cisco I l (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,231 2,347 9,116 2,242 3,234 3,592 2,220 7,109 1,434 690 1,474 1,242 4,531 Deposits: Member bank reserves 19,754 1 k 5,613 810 1,340 955 1,148 2,895 767 477 851 1,030 3,144 l2 U* S. Treasurer—general account 641 4o 24 9 40 109 19 42 58 6 36 16 24 2 Foreign 127 6 1/ 30 7 12 7 8 19 5 3 6 7 17 Other ^31 * 358 l * 7 4 2 l 1 3 1 53 Total deposits 20,953 770 6,250 858 l,46l 988 1,202 2,974 779 517 876 1,062 3,216 Deferred availability cash items 8,300 522 1,603 559 611 626 722 1,^32 386 235 446 431 727 Other liabilities and accrued dividends 238 12 71 11 18 16 13 37 8 5 9 9 29 TOTAL LIABILITIES 68,722 ■ 3,651 17,O4O 3,670 5,324 5,222 4,157 11,552 2,607 1,447 2,805 2,744 8,503 CAPITAL ACCOUNTS Capital paid in 51k 1 27 149 30 51 30 36 84 20 14 26 33 74 Surplus 570 2k7 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 78 1 21 4 7 5 4 13 2 1 3 3 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS g9,944 3,709 17,358 3,73^ 5,433 5,287 4,232 11,732 2,649 1^76 2,859 2,813 ___8,662 Contingent liability on ace: eptances purchased for forej- gn correspondents 182 9 2/ ^7 10 16 10 11 26 6 4 8 11 24 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,308 2,420 9,601 2,308 3,508 3,718 2,355 7,445 1,506 717 1,539 1,339 4,852 Collateral for F. R. notes: Gold certificate account 6,700 450 1,000 483 600 74o 450 i,4oo 310 127 225 180 735 Eligible paper 3 3 U. S. Government securities 36,326 2,016 8,900 2,000 3,000 3,035 2,050 6,150 i,3io 635 1,1*00 1,230 4,600 Total collateral 43,o29 2,466 9,900 2,486 3,600 3,775 2,500 7,55o 1,620 762 1,625 i,4io 5,335 l/ After deducting $ 97 million participations of other Federal Reserve Banks # 2/ Includes IMF gold deposit. * Less than $500,000 Digitized fo3r /FR AASfEtRe r deducting $135 million participations of other Federal Reserve Eanks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis