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 For immediate release June 8, 1967 The average of daily figures of total member bank reserves held during the week ended June 7, increased a net of $1^9 million to $23,207 million. Estimated currency and coin of member banks decreased $168 million and their reserve balances at the Federal Reserve Banks increased $317 million. Estimated re-quired reserves increased $159 million; and estimated excess reserves decreased $10 million to $361 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $284 million, compared with the revised figure of $269 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $212 million in U. S. Government securities bought outright, and $171 million in Federal Reserve float, and a decrease of $138 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $2W- million in currency in circulation. Total Reserve Bank credit increased $397 million. As of Wednesday, June 7, 1967; holdings of U. S. Government securities bought outright were $176 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $323 million lower, and member bank borrowings were $325 million lower. Outright holdings of bills, notes, and bonds increased $62 million, $66 million, and'#-8 million, respectively. Avsxage...•.of dally figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 7> May 31, June 8 June 7> and related items 1967 , 1967 1 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account ^5,869 +212 +k, 208 ^•5,919 Held under repurchase agieements Qk + 15 + 63 Federal Agency obligations- Held under repurchase agreements 2 Acceptances- Bought outright 71 -- 11 73 Held under lepurchase agreements 30 + 2k -. 103 32 Discounts and advances— Member bank borrowings 77 - 25 - 470 ! 65 Other 25 -- + 5 ! 25 Float 1,321 +171 - kkk I 1,267 Total Reserve Bank credit 47,^78 +397 +3,2*8 ! 47,381 Gold stock 13A09 -- - 424 : 13,109 Treasury currency outstanding- 6,590 - 1 + 702 6,596 Currency in circulation 67A7a +398 +3,527 167,086 Treasury cash holdings 1*4, U3Q +2kk +2,212 kk,6c6 Treasury deposits with F. R. Banks l, 330 -- + 388 ! 1,387 Foreign deposits with F. R. Banks 73^ -138 3 427 131 - 27 - 15 130 Other deposits with F. R. Banks 1J59 + 20 + 67 ! 457 Other F. R. accounts (net) 835 - 19 + 218 1 736 Member bank reserves: 47/978 ^T"80 +2,869 47,743 With Federal Reserve Banks 19,200 +317 + 658 19,3*3 Currency and coin (estimated) 4, 007 -168 + 345 4,302 Total reserves held 23,207 +1^9 +1,003 1 23,645 Required reserves (estimated) 22,8*6 +159 + 81*9 22,899 Excess reserves (estimated) 361 - 10 + 15k \ 746 On June J, 19&1, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,660 million, a decrease of $139 million for the week and an increase of $23 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 COHESION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since June 7, May 31, June 8, 1967 1967 1966 A S S E TS Gold certificate account 1.0,789 - 9 - 562 Redemption fund for F. R. notes Jlx.820 + 10 + 8j Total gold certificate reserves 12,609 + 1 - 475 Cash (453) 318 - 11 + 85 Discounts and advances 90 -325 - 903 Acceptances: Bought outright 73 + 3 10 Held under repurchase agreements 32 + 32 99 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,526 + 62 +3,616 Certificates 4,352 -- +4,34o Notes 21,638 + 66 -3,598 Bonds 6,403 + 48 + 19 Total bought outright 45,919 +176 +4,377 Held under repurchase agreements -- -323 -- Total U. S. Government securities 45,919 -147 +4,377 Total loans and securities 46,114 •_T__7 +3,3'65 Cash items in process of collection (1,670) 6,645 +331 + 437 Bank premises 108 ... + 5 Other assets l/ .. 750 +162 - 45 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,123) 66,544 + 46 +3,372 L I A B I L I T I ES Federal Reserve notes (453) 39,215 +193 +1,952 Deposits: Member bank reserves 19,343 -291 +1,214 U. S. Treasurer--general account 427 -147 - 474 Foreign 130 - 63 - 26 Other 2/ (*) 457 + 14 + 57 Total deposits 20,357 -487 + 771 Deferred availability cash items (1,670) 5,378 +312 + 569 Other liabilities and accrued dividends 238 - 7 + 14 TOTAL LIABILITIES (2,123) 65,188 + 11 +3,306 C A P I T AL A C C O U N TS Capital paid in 583 + 1 + 22 Surplus 570 -- + 19 Other capital accounts 203 + 34 + 25 Ratio of gold certificate reserves to F. R. nc4^ liability (computed from figures as shown on the following pages—not consolidated) 31.8$ -.1$ - 2.6/0 Contingent liability on acceptances purchased for foreign correspondents 355 + 7 + 162 * Figures in parentheses are the eliminations made in the consolidating pi: ocess. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 7, 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 VUs counts and Federal Age ncy obligations advance Acjc eptances Holdings Weekly changes Within 15 days 61 1*1 1,840 - 31 16 days to 90 days 29 64 11,9^8 + 56 91 days to 1 year .- -- 17,413 -285 Over 1 year to 5 years _- „ 13,236 + 68 Over 5 years to 10 years _- -_ 994 + s4 Over 10 years -. -- 488 + 11 Total 90 105 45,919 -147 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1 (t) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUliiE 7, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York de lph a land mond Louis apolis City cisco -1• •I, \ t (In millions of dollars) A S S E TS Gold certificate account 10,789' 668 2,413 609 813 i,oc6 638 2,072 371 189 356 448 1,206 Redemption fund for F. R. notes 1,820 t . 103 434 96 150 162 100 335 63 32 71_ 60 214 Total gold certificate reserves 112,609 771 2,847 705 963 1,168 736 2,407 ^34 221 427 508 1, 420 F- R. notes of other Banks I 453 31 144 16 47 29 h5 35 14 11 17 18 46 Other cash 318 12 33 6 50 16 4i 54 32 7 16 17 34 Discounts and advances 90 3 10 2 6 3 9 15 4 4 5 6 23 Acceptances: Bought outright 73 — 73 -- -- — -- — -- __ -- -- -- Held under repurchase agreements 32 32 -- -- Federal Agency obligations Held under lepurchase agreements ~~ U. S. Government securities: ! Bought outright-- Bills 13,526 ; 704 3,452 694 l, 044 978 728 2,2*10 1)85 282 545 526 1,848 Certificates 4,352 226 1,111 223 336 315 234 721 156 91 175 169 595 Notes 21,638 1,126 5,522 1,109 1,670 1,565 1 ,165 3,585 7?6 k$l 8f2 64i 2,956 Bonds 6,403 334 1,634 328 494 ^63 344 1,06.1 230 133 258 249 875 Total | 45,919 2,390 11,719 2,354 3,544 3,321 ~2 ThfT 7,607 1,647 957 1,850 1,785 6,274 Held under repurchase agreements -- ; — -- -- -- -- — -- — -- -- — Total U. S. Government securities [ 45,919 2,390 11,719 2,35^ 3,544 3,321 2 ,4 7 l 7,607 1,647 957 1,850 1,785 6,274 Total loans and securities 46,114 2,393 11,834 2,356 3,550 3,324 2., 480 7,622 1,651 961 1,855 1,791 6,297 Cash items in process of collection I 8,315 560 l, 430 499 600 677 710 1,371 4i6 279 538 429 8C6 Bank premises | 108 3 10 2 5 6 20 19 9 3 13 9 9 Other assets l/ 1 750 25 365 30 he 32 29 78 18 10 22 26_ 69_ TOTAL ASSETS | 68,667 3,795 16,663 3,614 5,261 5,252 4, 063 11,586 2,574 1,492 2,888 2,798 8,681 [ 1/ Includes assets denominated in foieign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.4.1(c) STATEMENT OF CONDITION OF EACH FErERAL RESERVE BANK ON JUNE 7, 1967 r ~ - -1 "{ 1 ! \ Can 1 New i Phila-j Cleve j Rich- St. j Minne-1 Kansas Total Boston j York 1delphia1 land | mond ( i A tlanta ! \ Chicag « o ! L ouis i apolis| City I i Dallas F c r i a s n c o i (In millions of dollars) LlAIi.1 i I T I E S Federal Reserve notes 39,668 2,369 9,187 2,297 3,203 3,646 2,235 7,070 1,4 5 4 710 1,517 1,281 4,699 Peposits: Member bank reserves 19,3^3 788 5,448 749 1,385 874 1,071 3,042 683 479 814 1,049 2,961 U..S- Treasurer--general ai c count 427 29 17 40 2 50 40 45 42 21 63 28 50 Foreign 130 6 1/31* 7 12 7 8 19 4 3 6 7 17 Other 457 l 2/377 1 * 10 1 2 2 2 2 1 58 Total deposits : 20,357 824 5,876 797 1,399 941 1,120 3,108 731 505 885 1,085 3,086 referred availability cash items 7,048 524 1,188 435 521 574 612 1,166 334 241 418 3^7 688 Other liabilities and accnl ed dividends 12 62 13 19 16 13 39 8 5 10 32 238 9 TOTAL LIABILITIES 67,311 3,729 16,313 3,5^2 5,1^2 5,177 3,980 11,383 2,527 l,46l 2,829 2,723 8,505 CAPITAL ACCOUNTS Capital paid in 583 28 152 31 52 30 37 85 20 14 26 3^ 74 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 7^ Other capital accounts 203 11 50 11 16 15 11 35 7 3 8 8 28 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,667 3,795 16,663 3,614 5,261 5,252 4,063 11,586 2,574 1,492 2,888 2,798 8,681 1 Contingent liability on ace: eptances purchased for forei • gn correspondents 355 17 i/ 92 18 32 18 22 52 12 9 16 21 46 FErERAL RESERVE AGENTS ' ACCOUNTS P. R. notes outstanding 1 41,171 2,419 9,573 2,3^1 3,^21 3,729 2,321 7,304 1,522 734 1,570 1,350 ^,887 Collateral for F. R. notes: Gold certificate account 1 6,705 450 1,000 493 600 740 450 i,4oo 305 127 225 180 735 Eligible paper I 1 l U. S. Government securities 1 36,336 2,036 8,900 2,000 3,000 3,035 2,050 6,150 1,310 625 1,400 1,230 4,600 Total collateral 1 43,042 2,486 9,900 2,494 3,600 3,775 2,500 7,550 1,615 752 1,625 1,410 5,335 i 1/ After deducting $ $6 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $263 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis