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 Condition Statement of F.R. Banks H.,4.1* For immediate release May 4, 1967 The average of daily figures of total member bank reserves held' during the week ended May 3, increased a net of $285 million to $23,668 million. Estimated currency and coin of member "banks decreased $58 million and their reserve balances at the Federal Reserve Banks increased $343 million. Estimated required reserves increased $46 million; and estimated excess reserves increased $239 million to $479 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $345 million, compared with the revised figure of $142 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $253 million in U. S. Government securities held under repurchase agreements; and $197 million in U. S. Government securities bought outright. The principal offsetting changes were an increase of $114 million in Treasury deposits with Federal Reserve Banks, and a decrease of $52 million in Federal Reserve float. Total Reserve Bank credit increased $481 million. As of Wednesday, May 3, I967, holdings of U. S. Government securities bought outright were $537 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $239 million higher, and member bank borrowings were $322 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 3, Apr. 26, May 4, ' May 3, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 45,295 +197 +4,54o 45,612 Held under repurchase agreements 294 +253 + 212 529 Federal Agency obligations— Held under repurchase agreements »• 5 8 5 Acceptances— Bought outright 69 - 1 11 70 Held under repurchase agreements 102 + 43 + 25 116 Discounts and advances- - m Member bank borrowings 134 + 36 13^- Other 25 + 5 25 Float l,44i - 52 - 487 1,385 Total Reserve Bank credit 47,369 +W +3,809 477B76" Gold stock 13,109 + 1 - 524 13,109 Treasury currency outstanding 6,566 + 13 + 769 6,575 67,044 +496 +47054" 67,560 Currency in circulation 43,792 + 38 +2,187 43,959 Treasury cash holdings 1,390 + 8 + 455 1,4oo Treasury deposits with F. R. Banks 1,201 +ll4 + 691 974 Foreign deposits with F. R. Banks 127 + 8 - 30 138 Other deposits with F. R. Banks 46l - 8 + 61 464 Other F.. R. accounts (net) 503 - 8 + 86 527 47,473 +152 +3,449 47,462 Member bank reserves: With Federal Reserve Banks 19,570 +343 + 6o4 20,098 Currency and coin (estimated) 4,098 - 58 + 329 4,243 Total reserves held 23,668 +2H5 + 933 24,341 Required reserves (estimated) 23,189 + 46 + 740 23,323 Excess reserves (estimated) 479 +239 + 193 1,018 On May 3, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,953 million, an increase of $66 million for the week and an increase of $4l8 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) CONSOLIDATE? STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since May 3, Apr. 26, May 4, 1967 1967 . 1966 A S S E TS Cold certificate account 16,785 + 19 - 67^ Redemption fund for F. R. notes - k + 92 l,8l8 Total gold certificate reserves 12,603 + 15 - 582 Cash (596:)) 327 - 7 + 9^ Discounts and advances 159 -322 - 750 Acceptances: Bought outright 70 + l 10 Held under repurchase agreements 116 - 2 45 Federal Ageacy obligations-- Held under repurchase agreements 13 U. S. Government securities: Bought outright-- Bills 13,543 +537 +4,085 Certificates 4,352 +4,34o Notes 21,368 -3,597 Bonds 6,349 - 225 Total bought outright 45,612 +537 +4,603 Held under repurchase agreements 529 +239 + 266 Total U. S. Government securities 46,141 +776 +)i,86o Total loans and securities 46,491 +44o +4,159 Gash items in process of collection (1,894) 7,430 + 19 + 317 Bank premises 108 - l + 6 Other assets l/ , , ,, 930 + 39 1^ TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,490)7^289 +50S L I A B I L I T I ES Federal Reserve notes (596)38,605 +162 +1,934 Deposits: Member bank reserves 20,098 +112 + 776 U. S. Treasurer--general account 974 +134 + 470 Foreign I38 + 20 + 1 Other 2/ 464 - + 64 Total deposits 21,674 +266 +1,3H Deferred availability cash items (1,894) 6,045 + 24 + 631 Other liabilities and accrued dividends 239 + 18 + 40 TOTAL LIABILITIES (2,490)66,563 +470 +3,916 £ A £ l i iL A C C O U N TS Capital paid in 579 + 19 Surplus 570 + 19 Other capital accounts + 29 177 + 35 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32.1$> -.1$ % Contingent liability on acceptances purchased for foreign correspondents 279 +15 139 * 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, MAY 3, 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 A gency obligations advances Acceptances Holdings Weekly changes Within 15 days 131 135 8,402 +6,098 16 days to 90 days 2ft 51 6,326 -5,848 91 days to 1 year -_ 19,902 + ^13 Over 1 year to 5 years -- -« 10,183 -- Over 5 years to lu years -_ -- 8c8 -- Over 10 years «- -_ -- 4?J: Total 159 186 46,146 + 763 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(h) STATEMENT OF COKLITTON OF EACH FELEFAL REBEK7E BANK OK KAY i, iyO' Ban" Total Boston New Phila Cleve- Rich Atlanta Chicago! St. Minne- axiati JF ran 1 York delphia land mond I Louis 1 apolis CityJ cisco 1 1 (In millions of dollars) A S S E TS Gold certificate account 10,785 636 2,324 658 868 1,044 575 2,134 403 246 412 354 1,131 Redemption fund for F. R. notes : 1,818 102 436 94 151 156 100 337 63 32 71 61 215 Total gold certificate reserves : 12,603 738 2,76c 752 1,019 1,200 675 2,471 466 278 483 415 1,346 F. R. notes of other Banks 596 47 164 25 74 32 7^ 49 15 10 17 32 57 Other cash 327 9 36 7 53 18 41 52 31 8 17 17 38 Discounts and advances 159 2 9 2 2 3 19 91 1 8 6 G 7 Acceptances: Bought outright 70 70 -- -- Held under repurchase agreements 116 116 Federal Agency obligations Held under repurchase agreements \ 5 c. U. S. Government securities: Bought outright Bills 13,543 726 3,429 691 1,031 969 741 2,227 481 26c 536 565 1,887 Certificates i 4,352 233 1,1C2 222 331 312 238 716 155 83 172 182 6c6 Notes 21,368 1 ,145 5,411 1,090 1,625 1,530 1 3,515 759 410 845 892 2,977 Bends 6,349 340 1,608 323 483 455 348 l,bkk 225 122 251 265 885 Total 45,612 2 ,444 11,55c 2,326 3,470 3,266 2 ,496 7,502 1,620 875 l,8o4 l ,904 0,355 Held under repurchase agreements 529 529 Total U. S. Government securities 46,141 2 ,444 12,079 2,326 3,470 3,266 2 ,496 7,502 l, 620 875 1,8C4 l ,904 6,355 Total loans and securities 46,491 2 ,446 12,279 2,328 3,472 3,269 2,, 515 7,593 1,621 883 1,810 1 ,913 6,362 Cash items in process of collection 9,324 644 1,599 592 698 764 816 1,495 464 271 595 505 881 Bank premises ICd 3 10 2 5 0 20 19 9 3 13 9 9 Other assets l/ 930 ?6 4C9 38 58 47 39 ill 24 13 28 _ 32 __ -95 TOTAL ASSETS 70,379 3 ,923 17,257 3,7^4 5,379 5,336 h, 18C 11,790 2,630 1,466 2,963 0 Q23 8,788 l/ Includes assets denominated in foreign currencies and IMF geld deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDEPAL RESERVE RAKK ON MAY 3, 1967 _ _ r r New Phila-j Cleve-j Rich- St, j Minne- Kansas San Total ;Boston IAtlanta Chicago j Dallas Fran York !delphia > lani ! mond Louis j apolis City cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,201 2,3^7 9,^90 2,251 3,185 3,6io 2,203 7,0^5 1,438 702 1,494 1,253 4,58: deposits: Member bank reserves 20,0961 792 5,905 &16 1,3*1 649 1,097 3,095 696 452 850 1,120 3,065 U.S. Treasurer--general account 974, 101 80 73 115 71 137 75 41 62 49 104 Foreign 136: 6 1/ 4i 7 12 7 C 19 5 3 6 7 17 Other 4£4| l 2/396 1 * 9 1 2 1 2 l 50 Total deposits 21,674 865 b,443 904 1,446 98c 1,177 3,253 W 497 920 1,177 3,23<S Deferred availability cash items 7,93^ 634 1,318 508 6l4 656 706 1,255 362 231 481 409 765 Other liabilities and accrued dividends 239 13 64 11 17 17 13 39 €• 5 10 10 32 TOTAL LIABILITIES 69,053 3,659 16,915 3,674 5,262 5,263 4,099 11,592 2,584 1,435 2,905 2,849 8,616 CAPITAL ACCOUNTS Capital paid in 579 26 149 31 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 1J2. 9 45 9 14 13 10 30_ 6L 3 7 7 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,379 3,923 _1J_,_2_57_ 3,744 5,379 _5 2 3_3_6__ 4,i8o _2_,63C_ 1,466 _f I 963_ 2,923_ 8,768 Contingent liability on accept ances purchased for foreign correspondents 27c 13_. j/ 73 ^5__ 25 15 17_ 40_ 10 7 12 16 36 FEDERAL RESERVE AGENTS ' ACCOUNTc s F. R. notes outstanding 4©,895 2,438 9,593 2,292 3,435 3,712 2,3©5 7,274 1,499 728 1,553 1,354 4,802 Collateral for F. R. notes: Gold certificate account 6,695 45 s 1,CM 483 6iQ 740 450 i,4oo 3«5 127 225 18 » 735 Eligible paper l __ l U. S. Government securities 36,3-6 2,016 3,9:o 2,000 6,15^ 1,3.1c 615 l,4co 1,230 k,6c* Total collateral 43,©02 2,466 9,9r$ 2,484 3,600 3,775 2,5«0 7,55^ 1,615 742 1,625 i,4io 5,335 1/ After* deducting lj> *97 million participations of other Federal Reserve Sanks 2/ Includes IMF gold deposit. * Less than <P500,.,0\J. 3/ After deducting $2C£ million participations of wther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis