H.4.1 Factors Affecting Reserve Balances of Depository Institutions

..VP.SS&-. F E D E R AL RESERVE: %; Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March l6, 1967 The average of daily figures of total member bank reserves held during the week ended March 15, increased a net of $50 million to $23,257 million. Estimated currency and coin of member banks increased $l8l million and their reserve balances at the Federal Reserve Banks decreased $131 million. Estimated required reserves increased $kk million; and estimated excess reserves increased $6 million to $377 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $2(A million, compared with the revised figure of $169 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $1^4-8 million in U. S. Government securities bought outright, $88 million in Federal Reserve float, and $7^ million in acceptances held under repurchase agreements, and an increase of $182 million in currency in circulation. The principal offsetting changes were an increase of $100 million in U. S. Government securities held under repurchase agreements, and a decrease of $207 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $180 million. As of Wednesday, March 15, 19^7, holdings of U. S. Government securities bought outright were $55 million lower than a week earlier, U. S. Government securi ties held under repurchase agreements were $551 million lower, and member bank borrowings were $^9 million lower. Average of daily figures Member,bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 15, Mar. 8, Mar. 16, Mar. 15, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 44,128 -148 +3,776 ! 44,295 Held under repurchase agreements 356 +100 + 3C9 315 Special Certificates 64 + 64 + 64 — Federal Agency obligations- Held under repurchase agreements 15 3 15 12 Acceptances- Bought outright 70 - 2 5 70 Held under repurchase agreements — - 74 77 1 Discounts and advances- Member bank borrowings 173 - 29 - 363 278 Other _- -- 20 i Float 1,465 - 88 - 276 I 1,528 Total Reserve Bank credit ^6,271 ^180 +37423 ! 4'67498 Gold stock 13,107 - 2 - 626 ! 13,109 Treasury currency outstanding 6,463 + 16 + 778 i 6,471 "657841 ~F6 +3,575 I 66,078 Currency in circulation 43,753 +182 +2,273 ! 43,788 Treasury cash holdings 1,283 + 12 + 46l 1,301 Treasury deposits with F. R. Banks 244 -207 - 102 i 452 Foreign deposits with F. R. Banks 135 + 3 - 45 1 128 Other deposits with F. R. Banks 454 + 19 + 2C7 i 455 Other F. R. accounts (net) 674 - 46 - 139 1 595 T575W ^15 +2,656 ; 46,719 Member bank reserves: With. Federal Reserve Banks 19,296 -131 + 918 : 19,358 Currency and coin (estimated) 3,96l +181 + 218 i 4,46l Total reserves held 23,257 + 50 +1,136 j 23,819 Required reserves (estimated) 22,880 + 44 +1,122 1 23,303 Excess reserves (estimated) 377 + 6 + 14 ; 516 On March 15, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,^-37 million, an increase of $109 million for the week and a decrease of $357 million from the comparable date a year ago. 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 Mar. 15, Mar. 8, Mar, 16, 1967 1967 1966 A S S E TS Gold certificate account 10,784 - 932 Redemption fund for F. R. notes 1,828 8 + 115 Total gold certificate reserves 12,612 - 817 Cash (692) 345 - 6 + 147 Discounts and advances 278 49 + 144 Acceptances: Bought outright 70 6 Held under repurchase agreements 73 - 155 Federal Agency obligations— Held under repurchase agreements 12 60 12 U. S. Government securities: Bought outright— Bills 12,393 55 +3,484 +4,350 Certificates 4,351 21,342 -3,5^9 Notes Bonds 6,2u9 - 352 Total bought outright 44,295 55 +3,933 Held under repurchase agreements 315. - + 266 Total U. S. Government securities 44,6lo 606 +4,199 Total loans and securities 44,970 788 +4,194 Cash items in process of collection ,011) 7,635 +1 ,167 - 170 Bank premises 108 + 6 Other assets l/ 752 + 24 + 232 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2',>770033)) 6666,,442222 + 389 +3,592 L I A B I L I T I ES Federal Reserve notes (692) 38,467 + 32 +1,916 Deposits: Member bank reserves 19,358 829 +1,160 U, S. Treasurer—general account 452 + 271 + 225 Foreign 128 + 5 - 18 Other 2/ 455 + 8 + 184 Total deposits 20,393 - 5^5 +1,, 551 Deferred availability cash items (2,011) 6,107 +1,032 + 48 Other liabilities and accrued dividends 228 - 24 + 35 TOTAL LIABILITIES (2,703) 65,195 + ^95 +3,550 C A P I T AL A C C O U N TS Capital paid in 577 19 Surplus 570 19 Other capital accounts 80 107 4 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.2$ — - 3,6$ Contingent liability on acceptances purchased for foreign correspondents 205 — + 78 * 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 LOAMS AMD SECURITIES, MARCH 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 Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 275 20 1,872 -613 16 days to 90 days 3 50 12,150 + 64 91 days to 1 year 19,242 -116 Over 1 year to 5 years 10,103 Over 5 years to 10 years 853 Over 10 years 402 Total 278 70 44,622 -665 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 MARCH 15, 1967 San Total Boston New Phila 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 10,784 559 2,417 632 842 1,055 569 2,070 374 252 448 438 1,128 Redemption fund for F. R. notes 1,828 100 438 95 153 156 102 339 64 _ 32 71 61 217 Total gold certificate reserves 12,612 659 2,855 727 995 1,211 671 2,409 438 284 519 499 1,345 F« R. notes of other Banks 692 51 182 34 95 45 69 68 16 8 18 38 68 Other cash ; 345 11 40 9 58 19 42 51 32 8 16 19 4o Discounts and advances : 278 2 104 7 4 10 22 35 2 6 7 4 75 Acceptances: Bought outright ! 70 -- 70 -• -- — -- -- __ -- — «- -- Held under repurchase agreements -- - — -- -- — -- «.- Federal Agency obligations— Held under repurchase agreements 12 12 U. S. Government securities: Bought outright-- Bills 12,393 656 3,113 637 975 900 694 2,067 448 246 481 493 1,683 Certificates i 4,351 231 1,092 224 342 316 244 725 157 87 169 173 591 Notes ! 21,342 1,130 5,359 1,098 1,679 1,551 1,196 3,558 771 455 827 848 2,900 Bonds j 6,209 329 1.359 320 488 *51 348 1,035 224 m 123 ~ 24l 247 844 Total 44,295 "2jW> 11,123 2,279 3,484 3,218 2,482 7,385 1,600 1,718 1,761 6,018 Held under repurchase agreements 315 315 -- — -- -- -- -- -.- -- -- | Total U. S. Government securities 44,6io 2,346 11,438 2,279 3,484 3,218 2,482 7,385 1,600 881 1,718 l,76l 6,018 Total loans and securities 1 44,970 2,348 11,624 2,286 3,488 3,228 2,504 7,420 1,602 887 1,725 1,765 6,093 Cash items in process of collection 9,646 597 1,721 583 750 779 893 1,595 480 300 583 529 836 Bank premises 1 108 3 10 2 5 6 20 19 9 3 12 10 9 Other assets l/ 752 28 352 29 44 3i_ 31 84 19 12 22 25 72 TOTAL ASSETS 1 69,125 3,697 16,784 3,670 5,435 5,322 4,23<3 11,646 2,596 1,502 2,895 2,885 8,463 I 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 MARCH" 15, 1967 1 1 ! ! San " New Phila- Cleve j Rich- St. Minne Kansas Total Boston (Atlanta '(Chicago i Dallas ! Fran- York 1delphia land i mond Louis apolis City i I Cisco i (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39A59 2,345 9,065 2,244 3,223 3,609 2,205 7,073 1,437 695 1,482 1,244 ^,537 Deposits: Member bank reserves 19,358 683 5,44o 812 1,393 894 1,123 2,996 690 495 838 1,093 2,901 U. S. Treasurer--general account | 27 81 28 31 58 45 15 25 18 39 33 52 Foreign 128 1 6 1/ 39 6 11 6 8 17 4 3 5 7 16 Other 455 ! * 2/370 6 * 11 2 2 1 3 2 58 Total deposits 20,393 1 716 5,930 852 1,435 969 1,178 3,030 720 516 885 1,135 3,027 Deferred availability cash items 8,118 ! 565 1,409 498 651 66k 759 1,325 388 257 465 427 710 Other liabilities and accrued dividends 228 ! 12 62 12 17 15 12 37 8 5 9 9 30 TOTAL LIABILITIES 167,898 i 3,638 16,466 3,606 5,326 5,257 4,154 11,465 2,553 1,473 2,841 2,815 8,304 CAPITAL ACCOUNTS Capital paid in 577 28 149 30 52 30 36 84 20 14 26 34 74 Surplus 570 i 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 80 i 4 21 4 6 5 5 14 3 1 3 3 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 69,125 3,697 16,784 3,670 5,435 J?,322_ 4,230 11,646 2^596_ 1,502 2,895 2,885 8,463 Contingent liability on accept ances purchased for foreign correspondents 205 10 1/ 53 10 18 11 13 30 7 5 9 12 27 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 4l,Oo9 2,421 9,518 2,300 3,480 3,735 2,337 7,373 1,505 718 1,548 1,343 4,791 Collateral for F. R. notes: Gold certificate account j 6,690 450 1,000 483 600 74o 450 l,4oo 300 127 225 180 735 Eligible paper U. S. Government securities 36,756 2,01b 8,900 2,000 3,000 3,035 2,500 6,150 1,310 615 1,1*00 1,230 4,600 Total collateral |^ 3,^6 i 2,466 9,900 2,483 3,600 3,775 2,950 7,550 1,610 742 1,625 i,4io 5,335 1 1/ After deducting $ 89 million participations of other Federal Reserve Banks. * Less than $5^0,000. 2/ Includes IMF gold deposit. 3/ After deducting $152 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis