H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.^jjs^-. 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.fc.1 March 30, 1967 The average of daily figures of total member bank reserves held during the week ended March 29, decreased a net of $389 million to $23,303 million. Estimated currency and coin of member banks increased $111 million and their reserve balances at the Federal Reserve Banks decreased $500 million. Estimated required reserves decreased $193 million; and estimated excess reserves decreased $196 mil lion to $370 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $235 million compared with the revised figure of $264 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $28l million in Federal Reserve float, $204 million in U. S. Government securities held under repurchase agreements, and $167 million in member bank borrowings, and an increase of $64 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $151 mil lion in U. S. Government securities bought outright- Total Reserve Bank credit decreased $467 million. As of Wednesday, March 29, I967, holdings of U. S. Government securities bought outright vere $51 million higher than a week earlier, U. S. Government secu rities held under repurchase agreements were $394 million lower, and member bank borrowings were $82 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 29, Mar. 22, Mar. 30, Mar • 29, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: V. S. Government securities-- Bought outright—System account •44,529 +151 +4,024 44,529 Held under repurchase agreements 124 -204 + 124 Federal Agency obligations- Held under repurchase agreements Acceptances-- Bought outright 67 - 4 10 68 Held under repurchase agreements 39 + 39 26 32 Discounts and advances— Member bank borrowings 135 -167 - 373 29 Other 3 + 3 - 17 10 Float 1,577 -281 - 164 1,260 Total Reserve Bank credit 46,480 "3^7 +3, 564 45,928 Gold stock 13,108 - 524 13,109 Treasury currency outstanding 6,496 + 13 + 762 6,504 S£7o£4 3455 +3 ,802 W^l Currency in circulation 43,674 - 44 +2 ,326 43,725 Treasury cash holdings 1,324 + 20 + 388 1,335 Treasury deposits with F. R. B&nks 656 + 64 + 96 677 Foreign deposits with F. R* Banks 137 + 2 134 Other deposits with F. R. Banks 447 + 11 + 71 454 Other F. R, accounts (net) - 6 - 12 597 46,837 TTE +2 ,872 46,922 Member bank reserves: With Federal Reserve Banks 19,247 -500 + 931 18,619 Currency and coin (estimated) 4,056 -Mil + 196 ^,534 Total reserves held 23,303 ^339 +1,127 23,153 Required reserves (estimated) 22,933 -193 +1,045 23,000 Excess reserves (estimated) -196 + 82 153 370 On March 29, I967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,604 million, an increase of $20 million for the week and a decrease of $34 million i'r<wi th<=» ,.;<sparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT CF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Mar. 29 Mar. 22, Mar. 30, ; 1967 1967 1966 __ A S S E TS Gold certificate account 10,762 16 729 Redemption fund for F, R. notes 1,83,5 + 12 + 122 Total gold certificate reserves 12,597 k- 607 Cash (719) 339 5 4- 129 Discounts and advances 39 72 560 Acceptances: Bought outright 68 8 Held under repurchase agreements 32 32 22 Federal Agency obligations- Held under repurchase agreements ~ 7 U. S. Government securities: Bought outright-- Bills 12,576 -- +3;589 Certificates 4,351 " +^339 Notes 21,353 + 11 -3,573 Bonds 6,21*9 + ho - 322 Total bought outright 44,529 + 51 +M33 Held under repurchase agreements zz - 394 ^Z Total U, S. Government securities 44,529 - 343 +4,033 Total loans and securities 44,668 - 390 +3,443 Cash items in process of collection (1,813) 6,562 -1,354 + 356 Bank premises 108 — + 6 Other assets l/ 813 +_ 22 + 88 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,532) 65,087 -1,721 +3,4l5 L I A B I L I T I ES Federal Reserve notes (719) 38,383 50 +1,964 Deposits: Member bank reserves l8,6l9 -1,011 + 678 U. S. Treasurer—general account 677 + 380 + 131 Foreign 134 8 Other 2/ 4^4 + 2^ + 83 Total deposits 19,884 - 608 + 884 Deferred availability cash items (l,8l3) 5,302 -1,093 + 484 Other liabilities and accrued dividends 218 - 5 + 23 TOTAL LIABILITIES (2,532) 63,787 -1.756 +3,355 C A P I T AL A C C O U N TS Capital paid in 578 — + 18 Surplus 570 -- + 19 Other capital accounts 152 35 + 23 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.2$ "3.1$ Contingent liability on acceptances purchased , for foreign correspondents 225 + 7 + 96 * 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 AMP SECURITIES, MARCH 29, 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 advances Acceptances Holdings Weekly changes Within 15 days 26 48 1,445 -616 16 days to 90 days 3 52 12,561 +467 91 days to 1 year 10 19,H4 -253 Over 1 year to 5 years 10,133 + 30 Over 5 years to 10 years 866 + 13 Over 10 years — ~ 4io + 8 Total 39 100 44,529 -351 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 29, 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 10,762 573 2,529 596 795 1,028 519 2,032 33^ 241 434 396 1,285 Redemption fund for F. R. notes 1,835 103 438 _25_ 164 101 338 _63_ -22. -J2- 61 216 Total gold certificate reserves 12,597 676 2,967 691 947 1,192 620 2,370 397 273 506 457 1,501 F* R. notes of other Banks 719 49 170 31 91 42 78 105 21 10 18 36 68 Other cash 339 10 4o 8 56 20 41 50 32 8 17 18 39 Discounts and advances 39 5 8 l Acceptances: Bought outright 68 68 Held under repurchase agreements 32 32 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 12,576 666 3,159 647 989 913 704 2,097 455 250 488 500 1,708 Certificates 4,351 231 1,092 224 342 316 244 725 157 87 169 173 591 Notes .21,353 1,131 5,362 1,098 1,679 1,552 1,197 3,560 771 425 828 849 2,901 Bonds 6,249 J2L. 1,569 322 492 454 350 1,0^2 226 124 242 248 849 Total ^,529 2,35911,182 2,2913,5023,2352,4957,^241,609 88617727177706,049 Held under repurchase agreements Total U. S« Government securities ^,529 2,359 11,182 2,291 3,502 3,235 2,495 7,424 1,609 886 1,727 1,770 6,049 Total loans and securities 44,668 2,361 11,287 2,293 3,5C3 3,240 2,496 7,^30 1,610 894 1,731 1,773 6,050 Cash items in process of collection 8,375 546 1,589 562 605 656 702 1,339 371 245 548 450 762 Bank premises 108 3 10 2 5 6 20 19 9 3 12 10 9 Other assets l/ 813 _2£. 378 32 _28_ 3! 2L 21 12 _23_ 27 79 TOTAL ASSETS 67,619 3,674 16,441 3,619 5,256 5,194 3,991 11,404 2,461 1,445 2,855 2,771 8,508 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 EANK ON MARCH 29, 1967 1 " ! I ! ' 1 l San Total Boston j New j Phila Cleve Rich- (Atlanta |Chicago j St. Minne-! Kansas Dallas Fran delphia land i mond Louis apolis] City York i i 1 i , 1 1 cisco 1 (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,102 2,3*0 9,062 2,244 3,207 3,613 2,187 7,084 1,428 694 i,*76 1,246 4,521 Deposits: Member bank reserves 18,619 711 5,141 756 1,303 852 l,o4o 2,882 649 465 820 1,^34 2,966 U. S. Treasurer--general account 677 18 146 44 65 35 42 59 24 33 77 36 98 Foreign 13* 6 1/ 38 7 12 7 8 19 4 3 6 7 17 Other 454 l 2/361 14 * 9 2 1 1 1 2 l 61 Total_deposits 19,884 736 5,686 821 1,380 903 1,092 2,961 678 502 905 1,078 3,142 Deferred availability cash items 7,115 524 1,301 474 537 592 621 1,129 302 214 409 365 647 Other liabilities and accru. ed dividends 218 55 12 17 16 12 36 8 5 8 9 29 TOTAL LIABILITIES 66,319 3,611 16,104 3,551 5,141 5,124 3,912 11,210 2,4i6 1,415 2,798 2,698 8,339 CAPITAL ACCOUNTS Capital paid in 578 28 149 30 52 30 36 85 20 14 26 34 74 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 152 8 4o 8 12 10 8 26 5 2 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 67,619 3,674 16,441 3,619 5,256 5,194 3,991 ii,4o4_ 2,46l 1,**5 2,855 2,771 8,508 Contingent liability un acee ptances purchased for foreig n correspondents 225 11 3/ 58 12 20 12 14 33 8 5 10 13 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 4o,96l 2,428 9,518 2,299 3,*58 3,735 2,322 7,329 1,502 717 1,534 1,337 4,782 Collateral for F. R. notes: Gold certificate account 6,690 450 1,000 483 600 74o 450 i,4oo 300 127 225 180 735 Eligible paper 1 l U. S. Government securitie s i36,306 i 2,016 8,900 2,000 3,000 3,035 2,050 6,150 1,310 615 i,4oo 1,230 4,600 Total collateral :42,997 2,466 9,900 2,484 3,600 3,775 2,500 7,550 1,610 742 1,625 l,4io 5,335 l/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000, 3/ After deducting $167 million participations of uther Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis