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 *-?$ss^y Condition Statement of F.R. Banks E.lf.l For immediate release February 23, 19^7 The average of daily figures of total member bank reserves held during the week ended February 22, increased a net of $93 million to $23,8l4 million. Estimated currency and coin of member banks increased $102 million and their reserve balances at the Federal Reserve Banks decreased $9 million. Estimated required reserves decreased $90 million; and estimated excess reserves increased $183 million to $599 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $122 million, compared with, the revised net borrowed figure of $4(3 million the week before* The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $l43 million in U. S. Government securities bought outright, $65 million in Federal Reserve float, and an increase of $165 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $212 million in U# S. Government securities held under repurchase agreements, and a decrease of $46 million in currency in circulation. Total Reserve Bank credit increased $64 million. As of Wednesday, February 22, 1967, holdings of U. S. Government securi ties bought outright were $94 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $59 million lower, and member bank borrowings were $570 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 22, Feb. 15, I Feb. 23, Feb. 22, and related items 1967 I967 I 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 43;844 -1U3 +3,620 43,893 Held under repurchase agreements 462 +212 + 462 684 Federal Agency obligations-- Held under repurchase agreements 31 + 24 31 75 Acceptance s— Bought outright 78 + l + k 1 78 Held under repurchase agreements 64 + l4 + 30 1 98 Discounts and advances— Member bank borrowings kTJ + 21 k3 \ 387 Other -- 20 Float 1,855 - 65 - 186 1,534 Total Reserve Bank credit TT678H T~m +3,899 46,749 Gold stock 13,ikk -15 - 589 13,109 Treasury currency outstanding 6,1+20 +18 + 760 6,421 66,375 + 67 +4/069 66,279 Currency in circulation 43,568 - k6 +2,3^9 43,656 Treasury cash holdings 1,252 - 8 + 4l2 1,249 Treasury deposits with F. R. Banks 686 - 18 + 5 398 Foreign deposits with F. R. Banks 128 - 13 l 129 Other deposits with F. R. Banks 434 - 2 + 202 448 Other F. R. accounts (net) 588 +165 - 288 615 ~K£~&& + 77 +27579 46,495 Member bank reserves: With Federal Reserve Banks 19,720 - 9 +1,391 19,785 Currency and coin (estimated) 4,094 +102 + 317 | 4,500 Total reserves held 237814 + 93 +1,708 24,285 Required reserves (estimated) 23,215 - 90 +1,507 1 23,213 Excess reserves (estimated) 599 +183 + 201 ' l, 072 On February 22, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,319 million, a decrease of $52 million for the week and a decrease of $568 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H;4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Feb. 22, Feb. 15, Feb. 23, 1967 1967 1966 A S S E TS Gold certificate account 10,797 - 46 897 Redemption fund for F. R. notes 1,833 + 2 110 Total gold certificate reserves 12,630 - 44 787 Cash (827) 354 1 168 Discounts and advances 387 23 269 Acceptances: Bought outright 78 + 5 Held under repurchase agreements 49 t- 67 Federal Agency obligations— Held under repurchase agreements 75 27 75 U. S. Government securities: Bought outright- Bills 12,o4i - 94 +3,462 Certificates 4,351 +4,351 Notes 21,302 -3,569 Bonds 6,199 - 351 Total bought outright 43,893 - 94 +3,893 Held under repurchase agreements 684 - 59 + 684 Total U. S. Government securities 44,577 -153 +4,577 Total loans and securities 45,215 - 54 +4,455 Cash items in process of collection (2,fc03) 7,205 -827 +1,007 Bank premises 107 + 5 Other assets l/ 768 - 20 + 358 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (3,230] 66,279 -944 +5,206 L I A B I L I T I ES Federal Reserve notes (827) 38,358 - 36 +1,994 Deposits: Member bank reserves 19,785 + 31 +2,533 U. S. Treasurer--general account 398 -243 - 480 Foreign 129 + 2 Other 2/ (732) 627 +200 + 398 Total deposits (732) 20,939 - 10 +2,451 Deferred availability cash items (1,671) 5,492 -928 + 656 Other liabilities and accrued dividends 232 - 6 + 50 TOTAL LIABILITIES 13,230) 65,021 -980 +5,151 C A P I T AL A C C O U N TS Capital paid in 574 18 Surplus 570 19 Other capital accounts 114 36 18 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32.2$ -.1$ - 3.7% Contingent liability on acceptances purchased for.foreign correspondents I89 +7 + 54 * 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 22, 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 A gency obligations advances Ac.c eptances Holdings, Weekly changes Within 15 days 382 123 2,6^9 + 31 16 days to 90 days 5 53 ll'662 - 53 91 days to 1 year — -- 19,043 -IQh Over 1 year to 5 years -- 10,053 -- Over 5 years to 10 yeatrrss — 853 -~ Over LJ years -« «... if02 -~ Total 387 176 44,652 -126 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K. 4.1(h) STATEMENT OF CONDITION OF EACE FEDERAL RESERVE BANK ON FEBRUARY 22, 1967 San New Phila Cleve Rich- j St. Minne-j Kansas Total 1 Boston Atlanta Chicago Dallas Fran York -delphia land mend 1 Louis apolis City cisco (In millions5 of dollars) A S S E TS Gold certificate account : 10,797 724 2,395 639 864 946 562 1,955 421 187 371 378 1,355 Redemption fund for F. R. notes ! 1,833 101 440 95 153 155 102 339 64 32 72 62 218 Total gold certificate reserves 12,630 i 825 2,835 734 1,017 1,101 664 2,294 485 219 443 440 1,573 F. R. notes of other Banks 827 1 63 200 46 115 69 89 74 22 13 20 49 67 Other cash 354 1 12 4o 9 58 21 43 53 32 9 IT 20 4c Disccunts and advances 387 8 139 4 10 24 32 85 11 7 25 11 31 Acceptances: Bought outright 78 ! 78 — -- -- — -- -- - — — — Held under repurchase agreements 1 98 98 -- — -- -- Federal Agency obligations-- Held under repurchase agreements 75 75 U. S. Government securities: Bought outright— Bills 12,c4l | 64i 2,843 610 957 889 696 2, 012 424 257 503 513 1,696 Certificates ! 4,351 231 1,028 220 346 321 252 727 153 93 182 185 613 Notes , 21,302 | 1,132 5,029 1,079 1,694 1,573 1,231 3,56c 750 456 890 907 3,001 Bonds | 6,199 330 1,464 3l4 493 457 358 l, 036 216 133 259 264 873 Total 43,893 1 2,334 10,364 2,223 3,490 3,240 2,537 7,335 l, 545 939 1,834 1,869 6,183 Held under repurchase agreements 684 [ _- 684 -- -._ _- --. -- -- -- Total U. S. Government securities j 44,577 2,334 11,048 2,223 3,49C 3,240 2,537 7,335 1,545 939 1,834 1,869 6,183 Total loans and securities 45,215 1 2,342 ll,438 2,227 3,500 3,264 2,569 7,420 1,556 946 1,859 1,88C 6,214 Cash items in process of collection 9,608 512 1,620 521 579 931 973 -,45l 473 360 668 696 824 Bank premises 107 3 9 3 5 6 20 19 9 3 ll 10 9 Other assets l/ 768 27 354 29 47 34 33 85 19 13 24 28 75 TOTAL ASSETS 69,509; 3,784 16,496 3,569 5,321 5,426 4,391 11,396 2,596 1,563 3,042 3,123 8,802 1/ Includes assets denominated in foreign currencies and IMF geld deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BAM ON FEBRUARY 22, 1967 H.4.1(c) I San New j Phila-I Cleve- Rich St. Minne Kansas Tutal Boston Atlanta Chicago] Dallas ! Fran- York 1delphia] land mond Louis apolis City I cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39A85 ! 2,346 9,no 2,247 3,230 3,586 2,208 7,106 1,^32 689 1,470 1,237 4,524 Deposits: Member bank reserves 19,785 780 5,37o 791 l,4il 877 1,089 2,936 669 499 903 1,110 3,350 U. S, Treasurer—general account 398 30 , 25 14 34 80 34 20 15 28 61 3 Foreign 129 6 1/ 4o 6 11 6 8 17 4 el 54 7 16 Other 1,359 1 2/343 2 * 182 276 2 91 el. 79 214 Total deposits 21,671 817 5,778 813 1,456 1,145 1,407 2,975 779 610 1,051 1,392 3,448 Deferred availability cash items 7,163 549 1,214 432 506 612 687 1,094 334 229 457 413 636 Other liabilities and accrued dividends 232 12 67 11 17 16 12 35 8 5 9 10 30 TOTAL LIABILITIES 68,251 3,724 16,169 3,503 5,209 5,359 4,314 11,210 2,553 1,533 2,987 3,052 8,638 CAPITAL ACCOUNTS Capital paid in 574 27 149 30 51 30 36 84 20 14 26 33 74 Surplus 570 27 148 3Q 51 30 3 I 83 20 14 2 l 33 Other capital accounts 114 6 30 D 10 7 19 3 2 5 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 69,509 3,784 16,496 3,569 5,321 5,426 4,391 11,396 2,596 1,563 3,042 3,123 8,802 Contingent liability ^n accept ances purchased for foreign correspondents 189 9 1/ 49 10 17 10 12 27 11 25 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,194 2,409 9,586 2,309 3,495 3,717 2,347 7,4l8 1,500 721 1,537 1,337 4,818 Collateral for F. R. notes: Gold certificate account 6,700 450 1,000 483 600 740 450 l,4oo 310 127 225 180 735 Eligible paper 3 3 U. S. Government securities 36,326 2,016 8,900 2,000 _3,ooo 3,035 6,150 1,310 635 l,4oo _l.,230 4,6oo Total collateral 43,029 I 2,466 9,900 2,486 3,600 3,775 2,500 7,550 1,620 762 1,625 i,4io 5,335 l/ After deducting $ 89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,L00. 3/ After deducting iplkO million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis