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 29, 1967 The average of daily figures of total member bank reserves held during the week ended June 28, decreased a net of $201 million to $23,562 million. Estimated currency and coin of member banks increased $167 million and their reserve balances at the Federal Reserve Banks decreased $368 million. Estimated required reserves decreased $385 million; and estimated excess reserves increased $l8^- million to $^5 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $30^ million, compared with the revised figure of $170 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $300 million in Federal Reserve float, $51 million in U. S. Government securities held under repurchase agreements, and an increase of $W8 million in Treasury deposits with Federal Reserve Banks, The principal offsetting change was an increase of $3^9 million in U. S. Government securities bought outright. Total Reserve Bank credit increased $90 million. As of Wednesday, June 28, 1967, holdings of U. S. Government securities bought outright were $363 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $^72 million lower, and member bank borrowings were $301 million lower. Outright holdings of bills, certificates, notes, and bonds increased $291 million, $1 million, $l8 million, and $53 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week endedjWednesday, Reserve Bank credit, June 28, June 21, | June 29,| June 28, and related items 196^17 1961 196o 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 45,92^} +3^9 +^,129 i ^6,178 Held under repurchase agreements 16 - 51 + 16 I Special Certificates - 12 Federal Agency obligations-- Held under repurchase agreements Acceptances-- Bought outright 80 + 7 1 86 Held under repurchase agreements 48 + k8 - 103 46 Discounts and advances — Member bank borrowings 141 + 50 - 630 110 Other 24 -- + 19 18 Float 1,^08 -300 - 571 1,231 Total Reserve Bank credit k-J,6k2 + 90 +2/859 47,669 Gold stock 13,108 -- - 324 13,109 Treasury currency outstanding 6,610 + 2 + 677 6,606 BTTP^ 67,360 + 92 +3,212 Currency in circulation 44, 574 - 24 +2,323 U,779 Treasury cash holdings 1,378 - 15 + 302 1,369 Treasury deposits with F. R. Banks 968 +448 + 113 1 1,215 Foreign deposits with F. R. Banks 126 + 5 - 26 1 127 Other deposits with F. R. Banks 490 + 4o + 100 ^•55 Other F. R. accounts (net) 530 + 5 + 58 437 1*8/067 +46o +2/871 k&, 382 Member bank reserves: With Federal Reserve Banks 19,293 -368 + 34l 19,001 Currency and coin (estimated) 4,269 +167 + 285 4,734 Total reserves held 23,562 -201 + 626 23,735 Required reserves (estimated) 23,117 -385 + 6^)0 23,196 Excess reserves (estimated) Mi 5 +184 - l4 539 On June 28, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,781 million, a decrease of $107 million for the week and an increase of $130 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 June 28, June 21, June 29, 1967 1967 1966 A S S E TS Gold certificate account 10,756 — 12 — 447 Redemption fund for F. R. notes 1,837 + 6 + 67 Total gold certificate reserves 12,593 - 6 - 380 Cash (503) 324 + 3 + 67 Discounts and advances 128 - 308 - 498 Acceptances: Bought outright 86 "i~ 10 T • 5 Held under repurchase agreements 46 + 44 - 101 Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 13,612 291 +3,543 Certificates 4,353 1 +4,338 Notes 21,702 18 -3,607 Bonds 6,511 53 + 98 Total bought outright 46,178 363 44,372 Held under repurchase agreements 472 46,178 109 +4,372 Total U. S. Government securities 46,438 - 363 +3,778 Total loans and securities Cash items in process of collection (1,932) 6,953 -1,114 + 149 Bank premises 109 + 1 + 5 Other assets l/ 1,006 + 135 + 98 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,435) 67,423 -1,344 +3,717 L I A B I L IT I E S Federal Reserve notes (503) 39,351 + 104 +1,952 Deposits Member bank reserves 19,001 923 + 673 U. S. Treasurer--general account 1,215 460 + 390 Foreign 127 1 5 Other 2/ 455 5 + 58 Total deposits 20,798 - 469 +1., 116 Deferred availability cash items (1,932) 5,722 -1,014 + 572 Other liabilities and accrued dividends 244 + 22 TOTAL LIABILITIES (2,435) 66,115 •1,379 +3,662 C A P I T AL A C C O U N TS Capital paid in 585 + 23 Surplus 570 + 19 Other capital accounts 153 35 + 13 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.67. ,1% 2.4% Contingent liability on acceptances purchased for foreign correspondents 381 24 + 129 * 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 LOAMS AND SECURITIES, JUNE 28, 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 118 65 1,743 -782 16 days to 90 days 10 67 11,810 +440 91 days to 1 year 17,750 +178 Over 1 year to 5 years 13,362 -I- 17 Over 5 years to 10 years 1,002 + 28 Over 10 years 511 + 10 Total 128 132 46,178 -109 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 JUNE 28, 1967 , -v -- T 1 San Nev Phila Cleve Rich St. Kansas Total Boston Atlanta Chicago Minne-j Dallas Fran York delphia land mond Louis City apolis j cisco (In millions of dollars) A S S E TS Gold certificate account 10,756 ! 798 2,6ii9 617 755 963 659 2,019 326 223 ^31 313 1,003 Redemption fund for F. R. notes 1,837 i 102 442 98 150 162 100 335 65 32 71 62 218 Total gold certificate reserves 112,593 ! 900 3,091 715 905 1,125 759 2,354 391 255 502 375 1,221 F. R. notes of other Banks 503 j 27 155 21 53 36 47 32 24 14 21 19 54 Other cash 32k I 11 3* 8 50 17 40 58 33 8 16 16 33 Discounts and advances 128 i k 13 3 6 10 5 1)8 4 2 6 6 21 Acceptances: Bought outright 86 86 -- -- -- -- — •*— Held under repurchase agreements 1 k6 46 — — -- — .Federal Agency obligations — JHeJLd under repurchase agreements IL S. Government securities: Bought ^utright -- Bills 13,612 1 708 3, 4l0 698 1,048 984 744 2,279 496 268 515 559 1,903 Certificates j ^353 226 1,090 223 335 315 238 729 159 86 165 179 608 Notes '21,702 1,130 5,436 1,112 1,671 1,569 1, 185 3,634 791 428 821 891 3,034 Bonds 1 6,511 339 1.631 334 501 471 356 1.0Q1 2^7 128 246 267 QIO Total ^6,178 2,^03 11,567 2,367 3,555 3,339 2 ,523 7,733 1,683 910 1,747 1,896 6,455 Held under repurchase agreements Total U. S, Government securities !ii6,i78 2,403 11,567 2,367 3,555 3,339 2 ,523 7,733 1,683 910 1,747 1,896 6,455 Total loans and securities |46,438 2, 407 11,712 2,370 3,56l 3,349 2,, 528 7,781 1,687 912 1,753 1,902 6,476 Cash items in process uf collection 8,885 588 1,524 558 666 703 837 1,435 4i4 290 559 491 820 Bank premises I 109 3 10 2 5 6 20 19 9 3 14 9 9 Other assets l/ j 1,006 38 431 43 66 46 45 . 117 28 17 32 4o 103 TOTAL ASSETS 169,858 3,91k 16,957 3,717 5,306 5,282 4, 276 11,796 2,586 1,499 2,897 2,852 8,716 i IT 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 EANK ON JUNE 28, 1967 ~z—1 1 1 San New Phila-) Rich St. Minne Kansas Total Boston York delphia j Cleve mond Atlanta i Chicago!L ouis apolis City Dallas Fran cisco land „ 1 1 (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,854 2,390 9,252 2,318 3,195 3,675 2,240 7,073 1,456 709 1,511 1,289 4,746 Deposits: 19,001 808 5,331 733 1,261 835 1,100 3,107 670 472 802 994 2,888 Member bank reserves U.S. Treasurer--general ?a ccount 1,215 107 281 104 98 59 97 147 62 30 67 75 88 127 6 1/ 31 7 12 7 8 19 4 3 6 7 17 Foreign 455 2/385 1 6 2 1 1 1 3 1 54 Other Total deposits 20,798 921 6,028 845 1,371 907 1,207 3,274 737 506 878 1,077 3,047 Deferred availability cash items 7,654 588 1,274 472 605 612 736 1,216 339 248 442 403 719 Other liabilities and accri dividends 244 12 62 13 20 17 13 39 9 6 9 10 34 TOTAL LIABILITIES 68,550 3,911 16,616 3,648 5,191 5,211 4,196 11,602 2,541 1,469 2,840 2,779 8,546 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 153 8 41 8 12 11 8 26 5 2 6 6 20 JTQTAL LIABILITIES AND CAPITAL ACCOUNTS 69,858 3,974 16,957 3,717 5,306 5,282 4,276 11,796 2,586 1,499 2,897 2,852 8,716 Contingent liability on ac<: eptances purchased for fore:L gn 381 18 3/100 20 34 20 24 55 13 9 17 22 49 correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 41,565) 2,456 9,736 2,382 3,414 3,774 2,341 7,302 1,522 737 1,571 1,378 4,952 Collateral for F. R. notes: Gold certificate account 6,645! 450 1,000 493 600 680 450 1,400 305 127 225 180 735 Eligible paper 1 1 U. S. Government securities 36,461 2,036 8,900 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,230 4,600 Total collateral 43,107; 2,486 9,900 2,494 3,600 3,840 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. 3/ After deducting $281 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis