H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o* GOV; F E D E R AL R E S E R VE Factors Affecting Bank Reserves and :% t B #* Condition Statement of F.R. Banks For immediate release H.k.l May 25, 19*7 The average of daily figures of total member "bank reserves held during the week ended May 2k, decreased a net of $2k8 million to $23,118 million. Estimated currency and coin cf member banks increased $111 million and their reserve balances at the Federal Reserve Banks decreased $359 million. Estimated required reserves decreased $200 million; and estimated excess reserves decreased $^8 million to $33& million. ~xce6S reserves exceeded member bank borrowings at the Federal Reserve Banks by $288 million, compared with the revised figure of $263 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $300 million in U. S. Government securities held under repurchase agreements, $73 million in member bank borrowings, and increases of $235 million in "other" F. R. accounts (net), and $116 million in Treasury deposits with Federal Reserve Banks. The principal offsetting chances were an increase of $287 million in U. S. Government securities bought outright, and a decrease of $63 million in currency in circulation. Total Reserve Bank credit decreased $85 million. As of Wednesday, May 2-', 1967, holdings of U. S. Government securities bought outright were $2ll*- million higher than a week earlier, U. S. Government secu rities held under repurchase agreements were $195 million lower, and member bank borrowings were $40 million lower. Outright holdings of bills, notes, and bonds increased $112 million, $32 million, $70 million, respectively. Average of daily figures Member bank reserves, Vfeek ended Change from week ended Wednesday Reserve Bank credit, May 2k, "May 17, May 25, May 2k, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U» S. Government securities— Bought outright—System account *»5,530 +287 +^515 , ^5,530 Held under repurchase agreements -300 Federal Agency obligations— Held under repurchase agreements Acceptances— Bought outright 70 2 11 70 Held under repurchase agreements 3k 18 • ko 31 Discounts and advances— Member bank borrowings 50 73 - 603 30 Other 25 + k 25 Float 1,532 - V5i 1,282 Total Reserve Bank credit i»7,2iil +3, Mi) Gold stock 13,109 - 423 13,109 Treasury currency outstanding 6,568 + 708 6,581 SOTSB* +3,699 Currency in circulation W,073 +2,214 VI-,108 Treasury cash holdings 1,391 + ii-03 1,^3 1,068 + 213 1,170 Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks 121 9 122 Other deposits with F. R. Banks kM-2 + 67 ll36 Other F. R. accounts (net) 8kl + 201 ^7,936 +3,089 Member bank reserves: + 610 18,584 With Federal Reserve Banks ) f J41I + 267 Currency and coin (estimated) '^t *AUJ + 23,201 Total reserves held 23,118 -240 + 853 22,838 Required reserves (estimated) 22,780 -200 + 21* 363 Excess reserves (estimated) 338 - ko On May 2k, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,837 Million, a decrease of $159 million for the week and an increase of $200 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 May 24, May 17, May 25, 1967, 1967 1966 A S S E TS Gold certificate account 10,773 1 - 57^ Redemption fund for F. R. notes l,8l4 3 + 87 Total gold certificate reserves 12,587 4 - 487 # Cash (5^) 335 + 5 +101 Discounts and advances 55 - 123 - 3*6 Acceptances: Bought outright 70 10 Held under repurchase agreements 31 21 41 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 13,359 + 112 +3,859 Certificates 4,352 -- +4,340 Notes 21,507 + 32 -3,713 Bonds 6,312 + 70 - 7 Total bought outright 45,530 + 214 +4,479 Held under repurchase agreements --. - 195 -- Total U. S, Government securities 45,53c + 19 +4,479 Total loans and securities 45,686 - 125 +4,085 Cash items in process of collection (l,888) 6,577 -1,395 + 216 Bank premises 109 + 1 + 6 Other assets l/ 569 + 38 - 128 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,432) 65,863 -1,480 +3,793 L I A B I L I T I ES Federal Reserve notes (544) 38,743 71 +1,917 Deposits: Member bank reserves 18,584 528 + 901 U. S. Treasurer--general account 1,170 162 + 428 Foreign 122 4 - 16 Other 2/ 436 3 + 43 Total deposits 20,312 - 373 +1,356 Deferred availability cash items (1,888) 5,295 -1,073 + 439 Other liabilities and accrued dividends 230 + 2 + 26 TOTAL LIABILITIES (2,432) 64,580 -1,515 +3,738 C A P I T AL A C C O U N TS Capital paid in 582 -- + 21 Surplus 570 -- + 19 Other capital accounts 131 x + -JC Ratio of gold certificate reserves to F, R. note liability (computed from figures as shown on the following pages—not consolidated) 32.0$ -- ~ 2.6% Contingent liability on acceptances purchased for foreign correspondents 337 + 20 + 177 * 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, MAY 24, 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 advance Acceptances Holdings Weekly changes Within 15 days 27 50 1,872 -79 16 days to 90 days 28 51 11,824 -49 91 days to 1 year 17,338 +45 Over 1 year to 5 year*ss 13,101 +40 Over 5 years to 10 ye:aarrss 937 +39 Over 10 years 458 +23 Total 55 101 45,530 +19 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 2h, 1967 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Eallas Fran Ycrk delphia land mond Louis apolis City cisco i (In millions of dollars) A S S E TS Gold certificate account 1 10,773 570 3,027 518 777 1,038 604 1,673 449 247 404 320 1,146 Redemption fund for F. R. notes l,8l4 103 k3k 9k 151 155 100 336 63 32 71 61 2llj Total gold certificate reserves 12,587 673 3,^61 612 928 1,193 704 2, 009 512 279 475 381 1,360 F. R. notes of other Banks 544 36 163 16 61 38 56 41 20 9 20 27 57 Other cash 335 11 37 7 51 18 42 55 35 7 17 18 37 t Discounts and advances 1 55 : 5 11 2 3 3 11 4 2 5 4 3 Acceptances: Bought outright-- 1 (0 70 -• -• -• -• - -- 31 1 Held under repurchase agreements 31 Federal Agency obiigaticns-- i Held under repurchase agreements 1 1 U. S. Government secur ties: Bought outright-- i Bills 13,359 1 716 3,201 718 1, 059 957 725 2,301 klk 261 528 558 1,861 Certificates i K 352 | 233 1,0^3 233 3^5 312 236 750 155 85 172 182 606 Notes j 21,507 ! 1, 152 5,15^ 1,155 1,706 1,5^0 1,167 3,705 764 4i9 851 897 2,997 Bends 6,312 1 338 1,513 339 501 452 342 l, 087 224 123 250 263 880 Total 45,530 12 , ^39 10,911 2,^45 3,611 3,26l 2, 470 7,843 l, 617 888 1,601 1,900 6,3^4 Held under lepurchase agicements -- -- -- -- -- -- __ -- -- __ -- -- Total U. S. Government securities 45,530 2 ,^39 10,911 2,445 3,6ll 3,261 2, 470 7,843 1.617 888 _l_i80L_ 1.9C0 6.3^4 Total leans and securities 45,686 2 , 444 11,023 2,447 3,613 3,26^ 2, 473 7,854 1,621 890 1,806 1,904 6,347 Cash items in process of collection 1 0,U65 561 l, 468 518 620 649 762 1,412 378 264 551 486 796 Bank premises 109 3 10 2 5 6 20 19 9 3 13 10 9 Other assets l/ 569 17 3l6 21 30 21 19 52 11 7 13 17 45 TOTAL ASSETS ! 68,295' 3., 745 16,478 3,623 5,308 5,189 4,076 11,442 2, 586 1,459 2,895 2,843 8,651 1/ 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 FEDERAL RESERVE BANK ON MAY 24, 1967 1 r 1 1 1 | l Can New Phila-j Cleve Rich- St. Kinne- Kansas Total Boston | Atlantaj Chicago! 1 Dallas Fran York delphia land mond 1 1 I Louis apolis City ! cisco 1 (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,287 2,354 9,121 2,277 3,189 3,b01 2,197 7,044 1,444 707 1,494 1,264 4,595 Deposits: Member bank reserves 18,58!+ 704 5,201 740 1,348 829 1,001 2,844 686 443 819 1,002 2,967 U.S. Treasurer--general account 1,170 70 161 80 85 106 122 122 83 41 70 84 146 Foreign 122 5 1/ 40 b 10 6 7 16 4 3 5 6 14 Other 436 * 2/358 * 1 6 1 1 3 * 2 l .. 63 Total deposits 20,312 779 5,760 826 1,444 947 1,131 2,983 776 487 896 1,093 3,190 referred availability cash items 7A83 538 1,210 439 543 555 656 1,185 314 230 44o 404 669 Other liabilities and accrued dividends 1 230 12 55 12 19 17 13 39 8 5 9 10 31 TOTAL LIABILITIES : 67,012 3,683" 16,146 3,554 5,195 5,120 3,997 11,251 2,542 1,429 2,839 2,771 8,485 CAPITAL ACCOUNTS Capital paid in ! 582 28 152 31 52 30 36 85 20 14 26 34 74 Surplus 570 1 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts j 131 j 7 32 8 10 9 8 23 4_ 2 5__ 5_ 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS I 68,295 1 3,745 16,478 3,623 5,308 5,169 4,076 11,442 2,586 1,459 2,895 2,843 8,651 Contingent liability on act^ eptances purchased for fore:L gn correspondents 1 337 ! 16 3/ 87 18 30 17 21 49 12 8 15 20 44 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,045 2,430 9,528 2,328 3,426 3,714 2,308 7,285 1,517 735 1,553 1,356 4,865 Collateral for F. R. notes: Gold certificate account 6,695 450 1,000 483 600 74c 450 l,4oo 305 127 225 180 735 Eligible paper -« __ -- -- -- -- -- _- -.- -- -- -- -- U. S. Government securities 36,336 2,036 8,900 2,000 3,coo 3,035 2,050 6,150 1,31c 625 1,400 1,230 4,600 Total collateral 43,031 2,486 9,900 2,483 3,6oo 3,775 2,500 7,550 1,615 752 1,625 1,410 5,335 1/ After deducting $ 82 million parti , rc .. ri - p .,„ a tions of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. .3/ After deducting ^0 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis