H.4.1 Factors Affecting Reserve Balances of Depository Institutions

f O E R AL R E S E R VE Factors Affactitig Hank it$er¥t$ and e*Ar*tf Conditioii Statement af FJL Banlis HA.I For immediate release March 9, 1967 The average of daily figures of total member "bank reserves held during the week ended March 8, decreased a net of $185 million to $23,196 million. Estimated currency and coin of member banks decreased $446 million and their reserve balances at the Federal Reserve Banks increased $26l million. Estimated required reserves decreased $437 million; and estimated excess reserves increased $252 million to $367 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $165 million, the week before they were $52 million less than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $334 million in U. S. Government securities bought outright, $35 million in member bank borrowings, and $34 million in U. S. Government securities held under repurchase agreements, and a decrease of $128 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $123 rrdllion in Federal Reserve float, and an increase of $105 million in !iother,J F. R. accounts (net). Total Reserve Bank credit increased $268 million. As of Wednesday, March 8, 1967, holdings of U. S. Government securities bought outright were $379 million higher than a week earlier, U. S. Government securities held under repurchase agreements were §£66 million higher, and member bank borrowings were $87 million higher. Outright holdings of bills, notes, and bonds increased $329 million, $40 million, and $10 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar* 00 , Mar. 1, Mar • 9, 1 Mar. 8, and related items 1967 1967 lQf£ 1 196? ' (In millions of dollars) 1 Reserve Bank credit: b\ S. Government securities- Bought outright--System account 44,276 +334 +3,851 1 44,350 Held under repurchase agreements 256 + 34 + 256 866 Federal Agency obligations— Held under repurchase agreements 18 - 5 + 18 72 Acceptances-- 70 Bought outright 72 - 6 — 1 Held under repurchase agreements 74 - 1 - 1 73 Discounts and advances- Member bank borrowings 202 + 35 - 412 327 Other -.-. -- - 20 — Float 1,553 -123 - 226 1,393 Total Reserve Bank credit 46, 1*51 72m +3 ^T64" 47,151 Gold stock 13,109 + 1 624 13,109 Treasury currency outstanding 6,447 + i4 + 770 > 6,454 66, C07 +283 +1, 611 66,715 Currency in circulation 43,571 + 31 +2 ,252 43,744 Treasury cash holdings 1,271 + 18 442 1 1,283 T Treasury deposits with F. R. Banks 451 -128 + 22 1 i?l Foreign deposits with F. R. Banks 132 + 5 - 25 j 123 Other deposits with F. R. Banks ^35 - 9 + 194 j 447 Other F. R. accounts (net) 720 +105 148 74- 46,580 + 22 +2~, 737 [46,527 Member bank reserves: With Federal Reserve Banks 19,427 +261 + 874 j 20,18- Currency and coin (estimated) 3,769 -446 + 277 h,(p4 Total reserves held 23,196 -I85 +1 ,151 2472S1 Required reserves (estimated) 22,829 -437 +1 ,144 i22,85" Excess reserves (estimated) 367 +252 + 7 1 1,104 On March 8, 1967, V* S. Government securities held in custody by th^ Federal Reserve Banks for foreign account were $7,328 million, a decrease eJ $39 million for :he week and a decrease of $klk 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 Mar. 8, Mar. 1, Mar. 9, 1967 1967 1966 A S S E TS Gold certificate account 10,784 12 923 Redemption fund for F. R notes 1,836 + I + 11.2 # Total gold certificate reserves 12,620 5 8^4 Cash (720) 351 - 8 + 150 Discounts and advances 327 + 212 - 179 Acceptances: Bought outright 70 - k 3 Held under repurchase agreements 73 t- 38 Federal Agency obligations— Held under repurchase agreements 72 72 72 U. S. Government securities: Bought outright— Bills 12,448 + 329 +3,551 Certificates ^,351 — +4,350 Notes 21,3^2 + 4o -3,5^9 Bonds 6>2Q9 + 10 - 352 Total bought outright W,350 + 379 +4,000 Held under repurchase agreements 866 + 866 + 866 Total U. S. Government securities 45,216 +1£ & +4,866 Total loans and securities ^5,758 +1, 563 +4,756 Cash items in process of collection (l,659) 6,468 - 787 + 578 Bank premises 108 + 1 + 6 Other assets l/ 728 - 76 +_.__222 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,379) 66,033 + 688 +4,915 L I A B I L I T I ES Federal Reserve notes (720) 38,435 u 162 +1,915 Deposits: Member bank reserves 20,187 +1,432 +2,1*99 U. S. Treasurer—general account l8l - 294 - 270 Foreign 123 - 10 - 59 Other 2/ 447 - 4 + 195 Total deposits 20,938 +1,,112244 +2,365 +lj Deferred availability cash items (1,659) 5,075 -- 6^6622 + 503 Other liabilities and accrued dividends 252 ++ 2277 + SI TOTAL LIABILITIES (2,379) 64,700 + 65I +4,840 C A P I T AL A C C O U N TS Capital paid in 576 — + 19 Surplus 570 — + 19 Other capital accounts 187 37 + 37 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 32-2$ .1$ -3-6$ Contingent liability on acceptances purchased for foreign correspondents 205 + 2 + 70 * 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, MARCH 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. Governement securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 323 94 2,485 +1,068 16 days to 90 days k 49 12,086 + 240 91 days to 1 year — — 19,358 42 Over 1 year to 5 years -- — 10,103 + 50 Over 5 years to lu years — — 853 Over 10 years — — 402 12 Total 327 1^3 ^5,287 +1,316 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 CN MARCE 8, 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 10,784 647 2,098 638 829 1,025 555 1,966 349 229 419 293 1,736 Redemption fund for F. R. notes | 1,836 101 440 96 153 l6l 101 339 64 31 72 61 217 Total gold certificate reserves j 12,620 748 2,538 734 982 1,186 656" 2,305 — 260 491 -=F~ 1,953 F. R. notes of other Banks j 720 ; 56 190 39 104 43 74 73 16 9 18 38 60 Other cash 1 351 ! 12 4o 10 60 20 4i 52 32 9 16 19 40 Discounts and advances i 327 ; 27 74 * 3 8 28 154 7 1 19 4 2 Acceptances: Bought outright ! 70 — 70 -- — -- -- -- -- -~ _.-> --. Held under repurchase agreements 73 I 73 -- -- -- -- -- -- - — — - Federal Agency obligations-- Held under repurchase agreements 72 72 U. S. Government securities: ; Bought outright— Bills 12,448 1 659 3,126 64o 979 904 697 2,076 450 248 483 521 1,665 Certificates 4,351 1 231 1,092 224 342 316 244 725 157 87 169 182 582 Notes i 21,342 ! 1,130 5,359 1,098 1,679 1,551 1,196 3,558 771 425 827 893 2,855 Bonds | 6,209 I 329 1,559 320 488 451 348 1,035 224 123 24i 260 831 Total ; 44,350 ! 2,349 11,136 2,282 3,488 3,222 2,485 7,394 1,602 88T~T /J20 1,856 5,933 Held under repurchase agreements 1 866 1 866 -- -- -- -- " -- -- -- — — Total~U» S. Government securities !. 45,2161 2,349 12,002 2,282 3,488 3,222 2,485 7,394 1,602 883 1,720 1,856 5,933 Total loans and securities 45,758 2,376 12,291 2,282 3,491 3,230 2,513 7,548 1,609 884 1,739 1,860 5,935 Cash items in process of collection 1 8,127 ! 503 1,387 469 550 651 745 1,356 407 272 543 456 788 Bank premises ! 108 ; 3 10 2 5 6 20 19 9 3 12 10 9 Other assets l/ 728 1 26 345 30 43 32 30 80 18 11 21 24 68 TOTAL ASSETS i 68,412 3,724 16,801 3,566 5,235 5,168 4,079 11,433 2,504 1,448 2,840 2,761 8,853 - » 1 1/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. 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 MARCH 8, 1967 San New Phila Cleve- Rich St. Minne Kansas 1 Total Boston Atlanta Chicago Dallas Fran York delphia land » mond Louis apolis City j cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,155 2,338 9,073 2,238 3,227 3,607 2,208 7,078 1,435 692 1,481 1,243 4,535 Deposits: Member bank reserves 20,187 ! 843 5,634 838 1,386 926 1,128 2,965 683 491 876 1,060 3,357 U. S. Treasurer—general account 181 l 173 1 1 # * 1 * 1 1 2 Foreign 123 6 1/ 34 6 11 6 8 17 4 3 5 7 16 Other 447 2/371 * 11 3 1 1 3 1 56 Total deposits 2u,938 850 6,212 "845 I73~98 943" I7139 "27984" 5H8 4~95 8~8l 1,068 3,431 Deferred availability cash items 6,734 46o 1,088 401 475 529 639 1,135 327 225 407 366 682 Other liabilities and accrued dividends 252 12 82 12 18 16 12 38 8 5 9 10 30 TOTAL LIABILITIES 67,079 3,660 16,455 3,496 5,118 5,095 3,998 11,235 2,458 1,417 2/JS2 2,687 8,678 CAPITAL ACCOUNTS Capital paid in 576 ! 28 149 30 52 30 36 84 20 14 26 33 74 Surplus 570 I 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 187 j 9 49 10 14 13 10 31 6 3 7 8 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,412 j 3,724 16,801 3,566 5,235 5,168 4,079 11,433 2^504 1,448 2,84o 2,761 8,853 Contingent liability on accept ances purchased for foreign correspondents 10 3/ 53 10 18 11 13 30 7 12 27 FEDERAL RESERVE AGENTS• ACCOUNTS F. R. notes outstanding 9,521 2,296 3,486 3,725 2,342 7,380 1,492 720 1,536 1,334 4,782 Collateral for F. R. notes: Gold certificate account 1,000 483 600 74o 450 i,4oo 300 127 225 180 735 Eligible paper U. S. Government securities 2,016 8,900 2,000 3,000 3,035 2,050 6,150 1,310 635 i,4oo 1,230 4,600 Total collateral 2,466 9,900 2,483 3,600 3,775 2,500 7,550 1,610 762 1,625 l,4lo 5,335 l/ After deducting $ 89 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit, * Less than $500,000. 3/ After deducting $152 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis