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 '•?f*zmy Condition Statement of F.R. Banks For immediate release H.U.I May 11, 1967 The average of daily figures of total member bank reserves held during the week ended May 10, decreased a net of $191 million to $23,436 million. Estimated currency and coin of member banks decreased $257 million and their reserve balances at the Federal Reserve Banks increased $66 million. Estimated required reserves decreased $115 million; and estimated excess reserves decreased $76 million to $323 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $260 million, compared with the revised figure of $265 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $174 million in U. S. Government securities bought outright, $163 million in U. S. Government securities held under repurchase agree ments, and a decrease of $151 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $223 million in currency in circulation, and decreases of $71 million in member bank borrowings, and $57 million in Federal Reserve float. Total Reserve Bank credit increased $198 million. As of Wednesday, May 10, 1967, holdings of U. S. Government securities bought outright were $208 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $139 million lower, and member bank borrowings were $91 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, May 10, Reserve Bank credit, May 10, May 3, May 11, and related items 1967 1967 1966 1967 (In millions of dollars; Reserve Bank credit: U. S. Government securities- Bought outright—System account 45,469 +174 +4,529 45,404 Held under repurchase agreements 457 +163 + 158 390 Federal Agency obligations-- Held under repurchase agreements 5 3 Acceptances— Bought outright 72 + 3 8 70 Held under repurchase agreements 94 • 60 86 Discounts and advances-- Member bank borrowings 63 - 71 - 617 43 Other 25 + 3 25 Float 1,384 - 57 - 393 1,27.: Total Reserve Bank credit 47,567 +195 +3,736 477291 Gold stock 13,109 - 509 13,109 Treasury currency outstanding 6,567 + 748 6,57g 67,243 +199 +3,975 557972 Currency in circulation 44,015 +223 +2,181 44,17;. Treasury cash holdings 1,396 + 6 + 455 l,40d Treasury deposits with F. R. Banks 1,050 -151 + 533 1,148 Foreign deposits with F. R. Banks 143 + 16 + 12 12+ Other deposits with F. R. Banks 463 + 2 + 72 Other F. R. accounts (net) + 36 + 128 , 539 47,606 +133 +3,381 Member bank reserves: With Federal Reserve Banks 19,636 + 592 i 19,1c- Currency and coin (estimated) 3,800 + 251 1 4,3Cj Total reserves held 23,436 + "H43 23,4Cr> Required reserves (estimated) 23,113 + 860 23,CS9 Excess reserves (estimated) 323 17 rio On May 10, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,099 million, an increase of $146 million for the week and an increase of $550 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 CONPITICK OF ALL FEDERAL RESERVE BAMCS (in millions of dollars) Chaage...^..lfi,Qe May 10, May 3, May 11, 1967 1967 1966 A S S E TS Gold certificate account 10,785 -- - 57^ Redemption fund for F. R. notes 1,812 6 + 86 r Total gold certificate reserves 12,597 O - k8& Cash (525) 328 1 + 95 Discounts and advances 68 91 - lk6 Acceptances: Eought outright 70 -- 10 Held under repurchase agreements 86 30 H 55 Federal Agency obligations- Held under repurchase agreements 5 U. S Government securities: # Bought outright-- Bills 13,335 208 +4,120 Certificates 4,352 -- +4,3^0 Notes 21,368 -- -3,597 Bonds 6,349 __ - 225 Total bought outright Ti$,k0k - 208 +M38 Held under repurchase agreements 390 - 139 + 15_4 Total U. S Government securities 45,794 - 3^7 +4,792 # Total loans and securities 46,018 - ^73 +k,691 Cash items in process of collection (1,691) 6,766 • 66k - ^7 Bank premises 108 -- + 6 Other assets l/ 9^7 + 17 - 35 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,216)66,764 -1,12.5 +k,222 L I A B I L I T I ES Federal Reserve notes (525)38,821 f 216 +1,9^2 Deposits: Member bank reserves 19,102 - 996 +1,200 U. S. Treasurer--general account 1,148 + 174 + 652 Foreign 124 - ik — Other 2/ 479 + 15 + 98 Total deposits 20,853 - 821 +1,950 Deferred availability cash items (1,691) 5,493 - 552 + 218 Other liabilities and accrued dividends 232 7 + 37 TOTAL LIABILITIES (2,2l6)"S57399 -i,i65 '+k,lkf C A P I T AL A C C O U N TS Capital paid in 582 3 + 22 Surplus 570 -- + 19 Other capital accounts 213 36 + 34 Ratio of gold certificate reserves to F, R. note liability (computed from figures as shown on the following pages--not consolidated) 32.0/0 .1$ - 2.656 Contingent liability on acceptances purchased for foregin correspondents 302 + 23 + 156 * Figures in parentheses are the eliminations made in the cons< olidating process. l/ Includes assets denominated in foreign currencies and IMF goI d deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 10, 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 28 103" 8,151 -251 16 days to 90 days 40 53 6,354 + 28 91 days to 1 year -- .- 19,773 -129 Over 1 year to 5 years «- 10,183 -- Over 5 years to 10 years -- -- 898 ..- Over 10 years .- 435 -- Total ~68~ 156 45,794 -352 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 10, 1967 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (in millions5 of dollars) A S S E TS Gold certificate account 10,785 611 2,675 545 820 1,054 481 1,862 437 245 4-59 266 1,330 Redemption fund for F. R. notes 1,812 102 435 94 151 152 101 336 63 31 71 61 215 Total gold certificate reserves 12,597 ; 713 3,110 639 971 1,206 582 2,198 500 276 530 327 1,545 kl F. R. notes of other Banks 525 1 158 14 61 30 63 40 15 7 19 28 49 Other cash ! 328 \ 11 36 7 53 17 4l 52 31 8 17 18 37 Discounts and advances 68j 17 Acceptances: i Bought outright 70i 70 Held under repurchase agreements 86; 86 Federal Agency obligations — i Held under repurchase agreements U. S. Government securities: Bought outright— Bills 13,335 714 3,147 717 1,058 955 772 2,297 473 260 528 556 1,858 Certificates 4,352 233 1,027 233 345 312 252 750 155 85 172 182 606 Notes 21,368 1,1^-5 5,042 1,148 1,695 1,530 1,238 3,681 759 4i6 845 892 2,977 Bonds 6,349! 340 1,498 34l 503 455 368 1,094 225 124 265 885 Total 45,4o4i2,432 10,714 2,439 3,601 3,252 2,630 » 7,822 1,612 885 1,796 1,895 6,326 Held under repurchase agreements > 390! - 390 Total U. S. Government securities 45,79^2,432 _ II, K>4__ 2,439 3,601 3,252 2,630 7,822 _1^6l2^ _ 88^ 1,796 1,895 6,326 • » • »• ' " ' ' •" Total leans and securities 46,018:2,438 11,269 2,442 3,603 3,256 2,633 7,831 1,613 889 1,803 1,898 6,343 Cash items in process of collection 8,457i 566 1,429 534 624 681 787 l,36o 4o4 263 543 444 822 Bank premises 108! 3 10 2 5 6 20 19 9 3 13 9 9 Other assets l/ 947 j 37 403 42 59 47 42 118 25 16 28 32 _2£. TOTAL ASSETS 68,980 3,809 16,415 3,680 5,376 5,243 4,168 11,618 2,597 1,462 2,953 2,756 8,903 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.h.1(c) STATEMENT OF CONDITION OP MCE FEEEFAL RESERVE BARK ON MAX 10, 1967 T r San ! New Phila-j Cleve- Minne- Kansas Total Boston jAtlanta!Chicago! Dallas j Fran j York delphia j land mond Louis i apolis City I cisco JU. i_._ (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,346: 2,358 9,107 2,262 3,197 3,618 2,214 7,056 ±M5 707 1,503 1,260 4,619 Deposits: Member bank reserves 746 5,095 802 1,386 857 1,076 3,032 691 446 856 957 3,158 U.S. Treasurer--general account 71 215 62 69 99 83 125 65 ^3 92 74 150 Foreign 6 1/ 27 7 12 7 8 19 5 3 6 7 17 Other * g/397 1 1 9 _ 2 2 _ l * 2 l 63 Total deposits "823" 17fW "B72" i74~6F 972 V169" 3,178 7S2" 492 956 1,039 3,388 Deferred availability cash items 550 462 561 689 l,l4o 226 425 371 688 Other liabilities and accrued 1,164 573 335 dividends 12 12 23. -i2- 21 4o 8 _3__ 10 10 31 TOTAL LIABILTIES 3,743 16,0-6S05 __. 3,608 5,257 5,168 4,085 H,4l4 2,550 1,430 2,894 2,680 8,726 CAPITAL ACCOUNTS Capital paid in 28 152 31 52 30 36 85 20 14 26 3^ 74 Surplus 27 148 30 51 30 35 83 20 14 25 33 7^ Other capital accounts 11 55 11 16 15 12 36 7 4 8 9 29 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,980 3,809 16,415 3,680 5,376 5,243 4,168 11,616 2,597 1,462 2,953 2,756 8,903 Contingent liability on accept ances purchased for foreign correspondents I* 3/ 78 16 JL 16 19 44 11 13 18 .39 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 40,963! 2,44o 9,523 2,296 3,427 3,718 2,313 7,28o 1,516 732 1,559 1,352 4,807 Collateral for F. R. notes: Gold certificate account 6,695 1 ^50 1,000 483 600 74o 450 1,400 305 127 225 180 735 Eligible paper 1 l U. S. Government securities i 36,306! 2,016 8,900 2,000 3,000 3 035 2 05_o 6^150. 1,310 615 1,400 1,230 AA6O_Q ; z Total collateral 43,002 | 2,466 9,900 2,484 3,600 3,775 2,500 7,550 1,615 742 1,625 1,410 5,335 l/ After deducting $ 97 million participations of other FederaT Reserve "Banks. 2/ Includes IMF gold deposit. Less than $500,000. j/ After deducting §22k million participations of ^ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis