H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release June 1, 1967 The average of daily figures of total member bank reserves held during the week ended May 31, increased a net of $3 million to $23,080 million. Estimated currency and coin of member banks increased $102 million and their reserve balances at the Federal Reserve Banks decreased $99 million. Estimated required reserves decreased $^0 million; and estimated excess reserves increased $^3 million to $366 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $26^ million, compared with the revised figure of $273 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of -1382 million in Federal Reserve float, and increases of $121 million in currency in circulation, and $37 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $127 million in U. S. Government securities bought outright, $69 million in U. S. Government securities held under repurchase agreements, and $52 million in member bank borrowings, and a decrease of $196 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $l60 million. As of Wednesday, May 31, 19^7, holdings of U. S. Government securities ( bought outright were $213 million higher than a week earlier, U. S. Government 1 securities held under repurchase agreements were $323 million higher, and member ; bank borrowings were $360 million higher. Outright holdings of bills increased $105 I million, notes increased $65 million, and bonds increased $^3 million. Member bank reserves, Week ended Change from week ended(Wednesday, Reserve Bank credit, May 31, May 2k, June 1, j May 31, and related items 1967 1967 1966 1 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account •<5,657 +127 +k,200 Held under repurchase agreements 69 + 69 + 69 323 Federal Agency obligations-- Held under repurchase agreements 1 Acceptances-- Bought outright 71 + 1 11 70 Held under repurchase agreements 6 - 28 - 93 -- Discounts and advances-- Member bank borrowings 102 + 52 • 710 390 Other 25 - - + 5 25 - Float 1,150 -382 - 520 1,2^8 Total Reserve Bank credit 1j7,081 -160 +219^2 *<7,799 Gold stock 13,109 — • i|25 13,109 Treasury currency outstanding 6,591 + 23 722 6,595 64,736 +3 7235 67,503 ( ! Currency in circulation kk, 194 +121 +2,206 Mi, 1*15 Treasury cash holdings 1,380 - 11 + 385 1,37i< Treasury deposits with F. R. Banks 872 -196 4 33 57I Foreign deposits with F. R. Banks 158 + 37 + 9 193 Other deposits with F. R. Banks 1)39 - 3 + h6 1)1)3 Other F. R. accounts (net) 85^ + 13 + 221 870 +2,901 ^7,869 Member bank reserves: With Federal Reserve Banks 18,C83 - 99 + 338 19,63b Currency and coin (estimated) k .197 +102 + _3ii 23,080 + 3 + 712 2F7OO8 Total reserves held 22,71*1 - ifO + 782 22,689 Required reserves (estimated) Excess reserves (estimated) 366 + 13 - 70 1,319 Gn May 31, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,799 million, a decrease of $38 million for the week and an increase of $131 million from the comparable date n venr nrro. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since May 31, May 24, June 1, 1967 1966 A S S E T S Gold certificate account 10,798 + 25 - 564 Redemption fund for F. R. notes 1,810 - 4 + 8C Total gold certificate reserves * 12,608 + 21 - 484 Cash (^77) 329 mm 6 + 103 discounts and advances 415 + 360 + 31 Acceptances: Bought outright 70 - - - 13 Held under repurchase agreements 31 - 95 federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,464 + 105 +3,710 Certificates 4,352 -- +4,340 Notes 21,572 + 65 -3,648 Bonds 6,335 + 43 + 2 Total bought outright 45,743 + 213 +4,4o4 Held under repurchase agreements 323 + 323 + 323 Total U, S. Government securities 46,o66> + 536 +4,727 Total loans and securities '*6,551 + "'865 +4,650 Gash items in process of collection (1,887) 6,314 — 263 + 74 Bank premises 108 - 1 + 5 Other assets l/ 588 + 19 - 184 TOTAL ASSETS/LL4BILITIES & CAPITAL ACCOUNTS (2,364)66.498 + 635 +4,164 L I A B I L I T I E S Federal Reserve notes (477)39,022 + 279 +1,925 Deposits: Member bank reserves 19,634 +1,050 +2,052 U. S. Treasurer--general account 574 - 596 - 281 Foreign 193 + 71 + 6l Other 2/ (*) - 443 + 7 + 9 Total deposits 20,844 + 532 +1,841 Deferred availability cash items (1,887) 5,066 - 229 + 307 Other liabilities and accrued dividends 245 4- 15 + 26 TOTAL LIABILITIES (2,364)55^77 + 597 +4,102 c a p i t a l a c c o u n t s Capital paid in 582 •»• + 21 Surplus 570 -- + 19 Other capital accounts 169 + 38 + 22 Ratio of gold certificate reserves to F, R. note liability (computed from figures as shown on the following pages— not consolidated) 31.9$ - .1* - 2.6?» Contingent liability on acceptances purchased for foreign correspondents 348 + 11 + 181 * 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 CF LOANS AND SECURITIES, MAY 31, 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 386 16 1,871 m . U 16 days to 90 days 29 54 11,892 + 6h 91 days to 1 year -- -- 17,658 +360 Over 1 year to 5 years -- -- 13,168 + 67 Over 5 years to 10 years — 960 + 23 Over 10 years - - _ _ 477 + li Digitized for FRASER Total 415 70 46,0^6 ^536 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4. L (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON MAY 31, 1967 San New Phila­ Cleve­ Rich­ St. Minne~ Kansas Total Boston Atlanta Chicago Lallas Fran­ York delphia land mond Louis apolis City _________ cisco (In millions of dollars) A S S E T S Gold certificate account 10,798 739 2,89*1 592 8M- 895 ^88 2,023 379 237 368 3*)6 993 Redemption fund for F. R. notes 1,610 103 43!) 9k 151 152 100 336 63 32 71 60 2l4 Total gold certificate reserves "12,608 Wv2~ 3,328 686" 995 1,01)7 588 2,359 442 269 ~ w hot 1,207 F. R. notes of ether Banks 477 34 l4l 19 58 30 58 35 16 10 20 21 35 Other cash 329 11 36 6 51 18 4i 55 34 7 16 18 36 Discounts and advances 415 34 26 1 20 56 3 144 23 19 16 9 64 Acceptances: Bought outright 70 70 — •• — _ — Held under repurchase agreements — -- — -- -- -- — -- -- -- -- — — Federal Agency obligations— Held under repurchase agreements V. S. Government securities: Bought outright-- Bills 13, *i6i) 701 3A36 690 1,039 97l) 725 2,230 *483 280 51*3 524 1,839 Certificates A 352 226 1,111 223 336 315 234 721 156 91 175 169 595 Notes 21,572 1,123 5,505 1,106 1,665 1,560 l,l6l 3,57*) ■ 774 449 869 839 2,9*)Y Bonds 6,355 331 1,622 326 491 1)59 31)2 1,053 228 132 256 868 Total A, 7^3 2,381 11,67*1 2,3V5 3,531 3,308 2,462 7,578 l,64i 952 1,81)3 1,779 6,21)9 Held under repurchase agreements 323 -- 323 — -- -- -- -- -- -- -- Total U. S. Government securities 46,066 2,381 11,997 2,31)5 3,531 3,308 2,k 62 7,578 1,64a 952 1,81)3 1,779 6,21)9 Total loans and securities 1)6,551 2,1)15 12,093 2,31)6 3,551 3,364 2,1)65 7,722 1,664 971 1,859 1,788 6,313 Cash items in process of collection 8,201 508 1,596 584 637 652 681 1,333 380 216 494 1)31 689 Bank premises 108 3 10 2 5 6 20 19 9 3 13 9 9 Other assets l/ 588 17 322 21 30 22 20 5^ 13 9 15 17 48 TOTAL ASSETS j 68,862 3,83c 17,526 3,864 5,327 5,139 3,873 11,577 2,556 1,1)85 2, 856 2,690 6,337 1/ Includes assets denominatedin foreign currencies and IMF sold 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 31, 1967 ------- 1--- 1 1 San New Phila-[ Cleve­! Rich- St. Minne­ Kansas Total Boston Atlanta | Chicago Dallas Fran­ 1 York delphia j land | mond Louis apolis City cisco 1 (In millions of dollars) L I A B I L I T I E S Federal Reserve notes 39,495 2,359 9,169 2,292 3,190 3,627 2,214 7,C55 1,446 706 1,505 1,270 4,666 leposits: Member tank reserves 19,634 786 6,127 722 1,369 820 1,027 3,064 706 515 796 947 2,751 U.S. Treasurer--general account 574 44 116 3^ 62 24 28 39 33 32 52 72 36 Foreign 193 9 1/ 52 10 17 10 12 28 7 4 8 11 25 Other 443 * 2/375 1 1 7 1 1 1 1 2 1 - 52_____ Total deposits 2C,644 639 6,672 767 1,449 861 1,066 3,132 749 552 860 1,031 2,864 Deferred availability cash items 6,953 555 1,275 523 553 563 497 1,154 310 191 423 3C5 6c4 Cther liabilities and accrued dividends 245 13 69 11 19 16 13 39 8 5 10 10 32 TOTAL LIABILITIES 67,541 3,766 17,165 3,593 5,211 5,067 3,792 11,360 2,513 1,454 2,796 2,6l6 6,166 CAPITAL ACCOUNTS Capital paid in 562 28 152 31 52 3C 36 85 2C 14 26 74 Surplus 570 27 148 30 51 3C 35 83 2C 14 25 33 74 Other capital accounts 169 9 4l 10 13 12 10 29 5 3 7 3 - 23 _ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,862 3,93' 0 17,526 3,664 5.327 5,139 . 3,673 11,577. 2.558 1,465 2.65 6 2,69c 6,317 . Contingent liability on acceptances purchased for foreign correspondents 348 17 3/ 91 18 31 18 22 51 12 8 15. 20 45 FEDERAL RESERVE AGENTS ACCOUNTS F. R. notes outstanding 41,036! 2,420 9,542 2,321 3,417 3,720 2,297 7,279 1,527 734 1,566 1,355 4,856 • Collateral for F. R. notes: Gold certificate account 6,695 ^5C l,CCt 463 600 74c 450 1,400 305 127 225 18c 735 Eligible paper — _ _ _ — — — — _ _ — - - — - - — U. S. Government securities 36,336 2,036 8,9C0 2,0CC 3,0c 0 3,035 2,050 6,15C 1,310 625 _ 1,400 1.230 4.600 Total collateral 43,031, 2,486 9,900 2,463 3,6co 3,775 2,50c 7,350 1,615 752 1,625 l,klO 5,335 / / 2/ Includes I14F gold deposit. * Less than $5CO,OCO. Digitized - fo 2. r / F R-AASfEtRe r deducting ip2 5 Y million participations of other Federal Reserve Panic s. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis