H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bank Reserves and Condition Statement of F.R. Bonis E.h.i"' For immediate release May 18, 1967 The average of daily figures of total member bank reserves held during the week ended May 17, I967, decreased a net of $kl million to $23,390 million. Estimated currency and coin of member banks increased $25^ million and their reserve balances at the Federal Reserve Banks decreased $295 million. Estimated required reserves decreased $63 million; and estimated excess reserves increased $22 mill ion to $38^ million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $26l million, compared with the revised figure of $299 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $226 million in U. S. Government securities bought outright, $157 million in U. S. Government securities held under repurchase agreements, and an increase of $121 million in currency in circulation. The principal offsetting changes were increases of $128 million in Federal Reserve float, $60 million in member bank borrowings, and a decrease of $98 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $21+1 million. As of Wednesday, May 17, 1967, holdings of U. S. Government securities bought outright were $88 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $195 million lower, and member bank borrowings were $110 million higher. Outright holdings of bills decreased million, notes increased $107 million, bonds decreased $107 million. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 17, J May 10, May 18, May 17, and related items 29&1. I 1967 1966. 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account -226 +*!•, ^31 ^5,316 Held under repurchase agreements 300 -157 + 165 195 Federal Agency obligations— Held under repurchase agreements Acceptances— Bought outright 72 70 Held under repurchase agreements 52 - k-2 18 52 Discounts and advances— Member bank borrowings 123 + 60 5^0 153 Other 25 3 25 Float 1,512 +128 513 1,60^- Total Reserve Bank credit ^7,326 ^251 +3,555 Gold stock 13,108 - 1 - k2k 13,1C9 Treasury currency outstanding 6,579 + 12 + ikG 6,586 67,013 -230 ^37575 67,110 Currency in circulation W-,136 +121 +2,212 M-,175 Treasury cash holdings 1, kok + 8 + ^38 M-13 Treasury deposits with F. R. Banks 952 - 98 + 36l 1,008 Foreign deposits with F. R. Banks 121 - 22 - 16 126 Other deposits with F. R. Banks ij-55 - 8 + 71 k39 Other F. R. accounts (net) 6c6 + 67 + 170 837 it-7,673 +~W +3,236 ^7,998 Member bank reserves: With Federal Reserve Banks 19,3^1 -295 + 6kl 19,112 Currency and coin (estimated) 4,0^9 +254 + 274 k, k 09 Total reserves held 23,390 - hi + 915 23,521 Required reserves (estimated) 23,006 - 63 + 850 23,051 Excess reserves (estimated) 384 + 22 + 65 470 On May 17, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,996 million, a decrease of $103 million for the week and an increase of $322 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 CF CONDITION CF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since May 17, May' 10, May 18, 1967 J-1L - 967 1966 A S S E TS Gold certificate account 10,774 11 - 576 Redemption fund for F. R. notes 1,817 + 5 + 89 Total gold certificate reserves 12,591 6 I-5 87 Cash (528 * ) ) 330 + 0 + 93 Discounts and advances 178 + no - 7^3 Acceptances: Bought outright 70 10 Held under repurchase agreements 52 34 19 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,247 88 +3,997 Certificates 4,352 -- +4,340 Notes 21,475 + 107 -3,7^5 Bonds 6,242 - 107 - 77 Total bought outright 45,316 - 88 +4,515 Held under repurchase agreements 195 - 195 + 195 Total U. S. Government securities 45,511 - 283 +4,710 Total loans and securities 45,8.11 - 207 +3,976 Cash items in process of collection (2,280) 7,972 + 1 ,20b + 505 Bank premises 108 -- + 5 Other assets l/ 531 - 4l6 - 130 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,808) 67,343 + 579 +3,962 L I A B I L I T I ES Federal Reserve notes (528) 38,814 n +1,941 Deposits: Member bank reserves 19,112 + 10 + 769 U. S. Treasurer--general account 1,008 - 140 + 403 Foreign 126 + 2 - 13 Other 2/ 439 - 4o + 66 Total deposits 20,685 - 168 +1,225 Deferred availability cash items (2,280) 6,368 + 875 + 719 Other liabilities and accrued dividends 228 - 4 + 25 TOTAL LIABILITIES (2,808) 66,095 + "696 +3,910 C A P I T AL A C C O U N TS Capital paid in 582 _ _ 22 Surplus 570 -- + 19 Other capital accounts 96 117 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32. - 2, Contingent liability on acceptances purchased _for_ fore gin correspondents 3 1 ..1 5 166 * 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_. M^P^^plg.^lBUTipN OF LOANS AND"SECURITIES, MY 17, 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 150 68 1,951 -6,200 16 days to 90 days 28 54 11,873 +5,519 91 days to 1 year 17,293 -2,480 Over 1 year to 5 years 13,061 +2,878 Over 5 years to 10 years 898 Over 10 years 435 Total 178 122 45,5U 283 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 MAY 17, I967 , ... — ..... - San New Phila Cleve-j Rich St. Minne Kansas Total Boston Atlanta Chicago Fran York delphia land mond Louis apolis City Dallas ^ ... J^ .—J cisco L (In millions5 of dollars) A S S E TS i Gold certificate account 10,77^ 637 3,015 533 800 1,065 4-97 1,665 419 243 387 357 1,156 Redemption fund for F« R* notes 1,817 103 434 94 151 158 100 336 63 31 71 61 215 Total geld certificate reserves 12,591 ' 740 ' 3,449 627 951 1,223 597 2,001 482 274 458 4l8 1,371 -1 ^/K> P. R. notes of other Banks 528j 38 164 15 60 33 52 36 16 8 20 28 58 Other cash 1 330 : 10 38 7 51 18 4l 53 32 8 17 18 37 Discounts and advances 178 ! 5 26 1 4 2 10 102 3 3 3 5 14 Acceptances: 1 Bought outright 70 70 -- -- -- -- -- -- — — Held under repurchase agreements 52j 52 -- -• -- — — — — — -- • -- Federal Agency obligations— 1 Held under repurchase agreements " i -- U« S# Government securities: Bought outright— Bills 113,247 ! 710 3,126 712 1,051 948 767 2,282 470 258 524 553 1,846 Certificates ^,352 j 233 1,027 233 345 312 252 750 155 85 172 182 606 Notes 21,475 =1,151 5,067 1,154 1,703 1,538 1,244 3,700 762 4l9 849 896 2,992 Bonds 6,242 j 334 1,473 335 495 447 362 1,075 222 122 247 260 870 Total 1 45,316 12,428 10,693 2,434 3,594 3,245 2,625 7,807 1,609 884 1,792 1,891 6,314 Held under repurchase agreements 1 195 1 XQ5 -- — -- — — -- -- L 1 f • Total U# S# Government securities 45,511 .2,426 10,888 2,434 3,594 3,245 2,625 7,807 1,609 884 1,792 1,891 6,314 Total loans and securities 45,811 2,433 11,036 2,435 3,598 3,247 2,635 7,909 1,612 887 1,795 1,896 6,328 Cash items in process of collection 10,252 i 665 1,871 598 776 817 888 1,701 483 301 651 537 964 Bank premises 108 i 3 10 2 5 6 20 19 9 3 13 9 9 15 Other assets l/ 531 I 305 17 26 19 18 47 10 6 13 15 40 TOTAL ASSESTS M87 70,151 3,904 16,873 3,701 5,»«67 5,363 4,251 11,766 2,644 2,967 2,921 8,807 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 MAY 17, 1967 i New Phila-J Cleve Rich 1 St. f"^ f Kansas T San Total i Boston Atlanta Chicago 1 Minne-j jDallas Fran { York delphia land mond Louis apolis j City 1 cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,3^2 2,359 9,H3 2,273 3,197 3,613 2,205 7,052 1,H5 708 1,500 1,261 4,616 Deposits: Member bank reserves 19,112 764 5,3^8 776 1,371 831 1,090 2,945 669 440 856 1,055 2,967 U.S. Treasurer--general account 1,008 56 130 59 70 124 79 98 90 39 55 67 141 Foreign 126 6 1/ 33 7 11 7 8 18 4 3 6 7 16 Other ^39 * 2/368 * 1 7 1 2 l * 2 1 56 Total deposits 20,685 826 5,879 842 1,^53 969 1,178 3,063 764 482 919 1,130 3,180 Deferred availability cash items 8,648 647 1,502 508 689 698 778 1,428 384 263 484 449 818 Other liabilities and accrued dividends 228 12 56 11 18 16 13 39 8 4 9 10 32 TOTAL LIABILITIES 68,903 3,844 16,550 3,634 5,357 5,296 4,174 11,582 2,601 1,^57 2,912 2,850 8,646 CAPITAL ACCOUNTS Capital paid in 582 i 28 152 31 52 30 36 85 20 14 26 3h 74 Surplus ! 5701 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 1 96 1 5 23 b 7 7 b 16 3 2 4 4 13 TOTAL LIABILITIES AND I " CAPITAL ACCOUNTS ' 70,151! 3,90*1 16,873 _M2L. 5,^67 5,363 M51 11,766 _2,_644__ 1,^87 2,967 2,921 8,807 Contingent liability on acel eptances purchased for fore:L gn _ correspondents ' 317! 15 3/82 .17 . 29 16 20 46 11 8 14 18 4l FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,034 2,465 9,515 2,312 3,M8 3,722 2,31^ 7,290 1,51^ 737 1,553 1,3^+3 M 51 Collateral for F. R. notes: Gold certificate account 6,695 450 1,000 483 600 740 450 i,Uoo 305 127 225 180 735 Eligible paper U. S. Government securities 36,326 2,036 8,900 2,000 3,000 3,035 2,050 6,150 1,310 615 i,4oo 1,230 4,6co Total collateral ^3,021 2,486 9,900 2,483 3,600 3,775 2,500 7,550 1,615 742 1,625 1,410 5,335 1/ After deducting $ 93 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than <V5C0,000. 3/ After deducting $235 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis