H.4.1 Factors Affecting Reserve Balances of Depository Institutions

p ^& F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks B.H.1 For immediate release June 22, 1967 The average of daily figures of total member bank reserves held during the week ended June 21, increased $570 million to $23,785 million. Estimated currency and coin of member banks increased $92 million and their reserve balances at the Federal Reserve Banks increased $478 million. Estimated required reserves increased $648 million; and estimated excess reserves decreased $78 million to $289 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $198 million, compared with the revised figure of $324 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $328 million in Federal Reserve float, $67 million in U. S. Government securities held under repurchase agreements, and a decrease of $81)- million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $21 million in U. S. Government securities bought outright, and an increase of $49 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $434 million. As of Wednesday, June 21, 1967, holdings of U. S. Government securities bought outright were $1462 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $472 million higher, and member bank borrowings were $348 million higher. Outright holdings of bills, notes, and bonds increased $361 million, $46 million, and $55 million, respectively. Average of daily figures Member bank reserves, W..ek endv;d Change from '.?,ck ended Wednesday, Reserve Bank credit, June 21, June 14, June 22, June 21, and related sterns 1967 1967 1966 1967 In millions of dollars) Reserve Bank Credit: U. S. Government securities— Bought outright—System account 45,575 - 21 +k, okq ^5,815 Held under repurchase agreements 67 + 67 + 67 472 Special Certificates 12 + 12 + 12 Federal 'vgency obligations-- Held under iepurchase agreements Acceptance s~ Bought outright 73 10 76 Held under repurchase agreements - 103 2 Discounts and advances— Member bank borrowings 91 + 48 - 600 4ll Other 25 + 19 25 Float 1,708 +328 - 546 1,331 Total Reserve Bank credit kl,552 +W +2,887 48,132 Gold stock 13,108 - 397 13,109 Treasury currency outstanding- 6,608 + 10 + 677 6,609 Currency in circulation +T4T +3,167 67,850 Treasury cash holdings W.,598 - 2 +2,271 44,651 Treasury deposits with F. R. Banks 1,393 + 13 + 341 1,394 520 + 49 - 279 755 Foreign deposits with F. R. Banks 121 - 10 - 34 128 Other deposits with F. R. Banks 450 + 56 460 Other F. R. accounts (net) 525 - 84 + 26 , 53| Member bank reserves: 47,607 ^"35 +2,382 47,926 With Federal Reserve Banks 19,66l +478 + 785 19,924 Currency and coin (estimated) 4, 124 + 92 + 281 4,608 Total reserves held 23,785 +570 +1,066 ; 24,532 Required reserves (estimated) 23,496 +648 +1,059 | 23,585 Excess reserves (estimated) 289 - 78 + 7 i 947 ( On June 21, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,888 million; a decrease of $29 million for the week and an increase of $131 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since June 21, June 14, June 22, 1967 - 1967 - 1966 A S S E TS Gold certificate account 10,768 - 447 Redemption fund for F. R. notes 1,831 3 + 70 Total gold certificate reserves 12,599 3 - 377 Cash (522) 321 + 1 + 71 Discounts and advances 436 + 3^8 - 378 Acceptances: Bought outright 76 + 3 5 Held under repurchase agreements 2 2 - 141 Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright- Bills 13,321 + 361 +3,48U Certificates 4,352 — +4,3^0 Notes 21,684 + 46 -3,552 Bonds 6,458 + 55 ± Ih, Total bought outright 45,815 + 462 +4,346 Held under repurchase agreements I+72 4- 472 + 4?2 Total U. S. Government securities 1+6,287 4- 934 +4,8l8 Total loans and securities 46,801 +1,287 +4,294 Cash items in process of collection (2,183) 8,067 + 253 - 200 Bank premises 108 -- + 5 Other assets l/ 871 + 18 + 11 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,705) 68,767 +1,556 +3,8o4 L I A B I L I T I ES Federal Reserve notes (522) 39,247 31 +2,002 Deposits: Member bank reserves 19,924 + 727 + 873 U, S. Treasurer--general account 755 + 508 + 587 Foreign 128 14 - 19 Other 2/ 460 + 18 + 59 Total deposits 21,267 +1 ,239 +1,500 Deferred availability cash items (2,183) 6,736 + 300 + 225 Other liabilities and accrued dividends 244 + 15 + 24 TOTAL LIABILITIES (2,705) 67,494 +1 ,523 +3,751 £ A P I T A L A C C O U N TS Capital paid in 585 + 23 Surplus 570 + 19 Other capital accounts 118 33 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.7# - 2.4$ Contingent liability on acceptances purchased for foreign correspondents 357 - 3 + 111 * 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, JUNE 21, 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 1+25 15 2,525 +706 16 days to 90 days 11 63 11,370 -142 91 days to 1 year -- 17,572 +268 Over 1 year to 5 years — 13,3^5 +109 Over 5 years to 10 years -- 97^ - 20 Over 10 years -- 501 + A3. Total 4"3S~ "78" 467287 T934 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1 (ID) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 21, 19b7 1 1" 1— - 1 '" —L—' '"j San New Phila-j Cleve Rich- i St. Minne Kansas Total jB oston [Atlanta Chicago j Dallas ! Fran York delphia' land I mond I Louis apolis ' City 1 1 cisco * (in millions of dollars) A S S E TS Gold certificate account 10,7681 627 2,367 603 715 939 607 1,870 4i6 230 4i6 34l 1,637 Redemption fund for F. R. notes l,83l! 103 443 96 150 155 100 335 65 32 71 62 219 Total gold certificate reserves 12,599j 730 2,810 699 865 1,094 707 2,205 481 262 487 403 1,856 F. R. notes of other Banks 522 32 170 24 50 35 48 34 20 14 21 21 53 Other cash 321 11 35 7 50 16 41 55 32 8 17 16 33 Discounts and advances 1 *36 9 85 2 6 8 2 71 4 4 8 5 232 Acceptances: Bought outright 76 -- 76 — -- -- -- — " -- -- " -- Held under repurchase agreements 2 -- 2 -- -- -- -- -- -- — Federal Agency obligations-- Held under repurchase agreements """" U. S. Government securities: Bought outright— Bills 13,321 693 3,490 683 1,051 963 709 2,261 446 263 504 547 1,711 Certificates 4,352 226 1,140 223 343 315 231 739 146 86 165 179 559 Notes 21,684 1,129 5,681 1,112 1,710 1,568 1,153 3,681 727 427 820 890 2,786 Bonds 6,458 j 336 1,692 331 510 467 344 1,096 216 127 244 265 830 Total 45,815 |2,384 12,003 2, 349 3,614 3,313 2, 437 7,777 1,535 903 1,733 1,881 5,886 Held under repurchase agreements 472 1 472 -- — -- -- -- -- -- — -- -- Total U. S. Government securities 46,287 12,384 12,475 2, 349 3,6l4 3,313 2, 437 7,777 1,535 903 1,733 1,881 5,886 Total loans and securities 46,801 2,393 12,638 2,351 3,620 3,321 2, 439 7,848 1,539 907 l,74l 1,886 6,118 Cash items in process of collection 10,250 j 641 1,745 747 794 817 954 1,615 479 345 655 515 943 Bank premises 108 1 33 1 10 2 5 6 20 19 9 3 13 9 9 Other assets l/ 871 400 35 55 4o 37 97 22 13 26 33 82 TOTAL ASSETS I 71,472 J3,84i 17,808 3,865 5,439 5,329 4,246 11,873 2,582 1,552 2,960 2,883 9,094 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 CONDITON OF EACH FEDERAL RESERVE BANK ON JUNE 21, 1967 — r ~ San i Total Boston New Phila Cleve 1 Rich- Atlanta Chicago' St. Minne Kansas Dallas Fran York delphia land Louis apolis City 1 mond cisco . 1 (In of dollars) millions L I A B I L I T I ES Federal Reserve notes 39,769 2,377 9,223 2,312 3,201 2,235 7,072 1,458 711 1,514 1,287 ^,730 3,649 Deposits: Member bank reserves 19,924 766 5,539 778 1,319 908 l,06l 3,181 680 491 860 1,084 3,257 U.S. Treasurer--general eL C count 755 1 748 # 1 1 * 1 * * 1 2 Foreign 128 6 1/ 32 7 12 7 8 19 4 3 6 7 17 Other 460 * 2/369 7 * 7 2 2 l l 2 1 68 Total deposits 21,267 773 6,688 792 1,332 923 1,071 3,203 685 495 868 1,093 3,344 Deferred availability cash items 8,919 618 1,^95 683 774 672 848 1,371 387 311 513 422 825 Other liabilities and accrvl ed dividends 244 12 71 10 20 17 13 39 8 5 9 10 30 TOTAL LIABILITIES 70,199 3,780 17,477 3,797 5,327 5,261 4,167 11,685 2,538 1,522 2,904 2,812 8,929 CAPITAL ACCOUNTS Capital paid in 585 28 152 31 52 30 37 85 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 118 I b 31 7 9 8 7 20 4 2 5 4 15 TOTAL LIABILITIES AND CAPTIAL ACCOUNTS 71,^72 i 3,841 17,808 3,865 5,439 5,329 Jt,246 11,873 2,582 1,552 2,960 2,883 9,094 Contingent liability on ace: eptances purchased for forej- gn correspondents 357 17 3/ 93 19 32 18 22 52 13 8 16 21 46 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,523 2,470 9,687 2,368 3,^19 3,755 2,334 7,307 1,521 739 1,576 1,385 4,962 Collateral for F. R, notes: Gold certificate account 6,705 450 1,000 493 600 740 450 1,400 305 127 225 180 735 Eligible paper U. S. Government securiti. es 36,361 2,036 8,900 2,000 3,000 3,060 2,050 6,150 1,310 625 i,4oo 1,230 4,600 Total collateral 43,066 2,486 9,900 2,493 3,600 3,800 2,500 7,550 1,615 752 1,625 1,410 5,335 1/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000, j£/ After deducting $26k million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis