H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and '•?f^»;V Condition Statement of F.R. Banks H.4.1 For immediate release April 13, 1967 The average of daily figures of total member bank reserves held during the week ended April 12, decreased $221 million to $23,170 million. Estimated currency and coin of member banks decreased $120 million and their reserve balances at the Federal Reserve Banks decreased $101 million. Estimated required reserves decreased $71 million; and estimated excess reserves decreased $150 million to $299 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Ranks by $154 million, compared with the revised figure of $269 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $70 million in U. S. Government securities held under repurchase agreements, and increases of $23^ million in currency in circula tion. The principal offsetting changes were increases of $102 million in Federal Reserve float, $8l million in U. S. Government securities bought outright, and a decrease of $46 million in Treasury deposits with Federal Reserve Eanks. Total Reserve Bank credit increased $86 million. As of Wednesday, April 12, I967, holdings of U. S. Government securities bought outright were $165 million lower than a week earlier, U. S. Government secu rities held under repurchase agreements were $148 million lower, and member bank borrowings were $381 million higher. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Apr. 12, Apr. 5; Apr. 13, Apr. 12, and related items 1967 19M .12661 1967 ("in millions of dollars) 1 Reserve Bank credit: U. S. Government securities— Bought outright--System account 44,84o 81 +4,053 44,693 Held under repurchase agreements 167 70 + 133 277 Federal Agency obligations- Held under repurchase agreements 10 12 Acceptances-- Bought outright 69 1 8 68 Held under repurchase agreements 53 11 13 56 Disccunts and advances- Member bank borrowings 145 - 35 458 9C0 Other 20 + 7 20 Float +102 4c6 1,383 Total Reserve Bank credit S67F53 +"56" +3,332 4~7,409 Gold stock 13,108 - 525 13,109 Treasury currency outstanding 6,517 + 14 + 757 6,519 ^357 + 99 +3,563 67,037 Currency in circulation ^3,914 +234 +2,050 43,999 Treasury cash holdings 1,3^0 + 12 + 407 1,350 Treasury deposits with F. R. Banks 612 - 46 + 474 549 Foreign deposits with F. R. Banks 135 + 5 - 23 143 Other deposits with F. R. Banks 465 + 11 + 70 470 Other F. R. accounts (net) 634 - 14 + 76 488 47,098 +200 +3,052 4^7999 Member bank reserves: With Federal Reserve Banks 19,289 -101 + 5U 20,037 Currency and coin (estimated) 3,881 ^L20 + 257 4,425 Total reserves held 23A70 -221 + 768 24,462 Required reserves (estimated) 22,871 - 71 + 829 22,995 Excess reserves (estimated) -150 299 61 1,467 On April 12, I967, U. S. Government securities held in custody by the Federal Reserve Eanks for foreign account were $7,720 million, an increase of $38 million for the week and an increase of $231 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 Apr. 12, Apr. 5, Apr. 13, 1967 1967 1966 A S S E TS Gold certificate account 10,777 - 1 - 691 Redemption fund for P. R. notes 1,824 - 3 + 107 Total gold certificate reserves 12,601 - 584 Cash (583) 327 + 115 Discounts and advances 920 +381 + 603 Acceptances: Bought outright 68 8 Held under repurchase agreements 56 - 34 13 Federal Agency obligations— Held under repurchase agreements 12 - 13 12 U. S. Government securities: Bought outright— Bills 12,624 -2u6 +3,346 Certificates 4,352 +4,34o Notes 21,368 -3,558 Bonds , 6,3>9 + 41 - 222 Total "bought outright 44,693 +3/905 Held under repurchase agreements 277 + 32 Total U. S. Government securities 44,970 ±3^43. Total loans and securities 46,026 +4,537 Cash items in process of collection (1,845) 7,226 +205 + 110 Bank premises 108 + 6 Other assets l/ 844 + 34 + 35 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,428) 67,132 +256 +4,219 L I A B I L I T I ES Federal Reserve notes (583) 38,650 +138 +1,793 Deposits: Member bank reserves 20,037 -233 +1,685 U. S. Treasurer—general account 549 +131 + 339 Foreign 143 + 20 10 Other 2/ 470 + 14 + . 7u Total deposits 21,199 - 68 +2,084 Deferred availability cash items (1,845) 5,843 +319 + 267 Other liabilities and accrued dividends 222 - 10 + 31 TOTAL LIABILITIES (2,428) 65,914 +379 +4,175 C A P I T AL A C C O U N TS Capital paid in 579 — + 19 Surplus 570 -- + 19 Other capital accounts 69 -123 + 6 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.1# -.156 2.8$ Contingent liability on acceptances purchased for foreign correspondents 244 112 * 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, APRIL 12, I967 (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 898 79 1,692 - 47 16 days to 90 days 22 45 12,706 -308 91 days to 1 year 19,068 - 10 Over 1 year to 5 years 10,183 + 15 Over 5 years to 10 years 898 + 13 Over 10 years 435 + 11 Total 920 12T 44,982 ^32o" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l("b) STATEMEET OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 12, 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 10,777 645 2,715 63O 773 1,046 578 1,819 369 181 366 4C1 1,254 Kedemption fund for F. R. notes 11^2k 103 437 95... 152 156 101 337 63 31 71 62 216 Total gold certificate reserves 112,601 748 3,152 725 925 1,202 679 2,156 432 212 437 463 1,470 F. R« notes of other Banks 583 j 42 159 22 73 38 76 53 14 7 17 32 50 Other cash 327 j 10 38 7 55 17 40 50 31 8 17 17 37 Discounts and advances 920 ! 14 377 99 22 12 239 17 28 13 95 Acceptances: 68 I Bought outright 68 Held under repurchase agreements 56 | 56 Federal Agency obligations— Held under repurchase agreements 12! 12 U* S. Government securities: Bought outright— Bills \12,62k 1 667 3,046 649 984 920 712 2,119 461 278 513 527 1,748 Certificates i ^,352 229 1,050 224 339 317 245 731 159 96 177 182 603 Notes 121,368 1,128 5,157 1,100 1,666 1,557 1,204 3,587 781 469 869 891 2,959 Bonds 1 6,349 335 1,533 326 495 463 358 1,065 232 139 259 265 879 Total j44,693 2,359 10,786 " 2,299 3,484 3,257 2,519 7,502 1,633 982 1,818 1,865 6,189 Held under repurchase agreements i 277 277 Total U. S. Government securities 144,970 2,359 11,063 2,299 ^.484 3.257 2,519 7.502 l.6r* Q8? 1,8x8 1,86s 6,l8Q Total loans and securities 146,026 2,373 11,576 2,301 3,583 3,279 2,531 7,741 1,635 999 1,846 1,878 6,284 Cash items in process of collection | 9,071 554 1,573 538 651 709 812 1,508 452 289 573 490 922 Bank premises 108 3 10 2 5 6 20 19 9 3 12 10 9 Other assets l/ | 844 31 379 35 50 42 36_ 98_ 22 14 84 25 28 TOTAL ASSETS i69,560 3,761 16,887 3,630 5,342 5,293 4,194 11,625 2,595 1,532 8,856 2,927 2,918 1 i l/ 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 COHBITjLON OF EACH FEDERAL RESERVE BANK ON APRIL 12, 1967 I i 1 j San | New Phila | Cleve-! Rioh- St. Kansas | Total Boston !Atlanta Chicago 1 | Minne Dallas ! Fran- 1 1 York delphia 1 land ! mond L ... ... Louis apolis City ! cisco i 1 i (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,233 I 2,349 9,o84 2,253 3,2o4 3,621 2,205 7,064 1,438 702 1,491 1,249 4,573 Deposits: Member bank reserves 20,037 763 5,711 803 1,376 909 1,131 3,018 696 476 850 1,133 3,171 U. S. Treasurer—general account i 549 26 69 32 39 51 4u 55 42 18 67 39 71 Foreign 143 i 6 7 12 7 8 19 4 3 6 7 17 Other 47u 2/380 1 # 13 4 1 1 1 2 1 66 Total deposits 21,199 i 795 6,2^7 843 1,427 980 1,183 3,093 743 498 925 1,180 3,325 Deferred availability cash items 7,688 ! 546 46u 586 611 718 1,251 364 299 448 410 771 1,224 Other liabilities and accrut ed dividends 222 ' 12 lo 17 16 12 37 8 4 9 9 30 58 TOTAL LIABILITIES 68,342 3,7u2 16,573 3,566 5,234 5,228 4,118 11,445 2,553 1,503 2,873 2,848 8,699 CAPITAL ACCOUNTS Capital paid in 579 28 149 31 52 30 36 85 20 14 26 34 74 Surplus 57o 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 69 4 17 3 5 5 5 12 2 1 3 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 69,560 3,761 16,887 3,630 5,342 5,293 4,194 11,625 2,595 1,532 2,927 2,918 8,856 Contingent liability on aceep tances purchased for forei . correspondents 244 12 3/ 63 13 22 12 15 35 9 6 11 14 32 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 4l,oiu 2,432 9,488 2,294 3,457 3,735 2,332 7,322 1,506 727 1,554 1,337 4,826 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 U. S. Government securitie s 36,306 2,016 8,900 2,000 3,000 3,035 2,050 6,150 1,310 615 1,400 1,230 4,600 Total collateral 43,006 2,466 9,900 2,483 3,600 3,775 2,500 7,550 1,620 742 1,625 1,410 5,335 •1 " /r A*f ter •,"d" e'" du".c ting ",$ '" 96• ' m"• i' l• lion participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000. 3/ After deducting $181 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis