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 **?f*Au&?y Condition Statement of F.R. Banks H.4.1 For immediate release July 6, 1967' The average of daily figures of total member bank reserves held during the week ended July 5> increased a net of $358 million to $23,899 million. Estimated currency and coin of member banks decreased $190 million and their reserve balances at the Federal Reserve Banks increased $5^8 million. Estimated required reserves increased $273 million; and estimated excess reserves increased $85 million to $505 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $152 million, compared with the revised figure of $279 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $831 million in U. S. Government securities bought outright, and $212 million in member bank borrowings, and a decrease of $170 million in other F. R. accounts (net). The principal offsetting changes were a decrease of $177 million in Federal Reserve float, and increases of $277 million in currency in circulation, $120 million in Treasury deposits with Federal Reserve Banks, and $96 million in Treasury cash holdings. Total Reserve Bank credit increased $901 million. As of Wednesday, July 5, 1967, holdings of U. S. Government securities bought outright were $797 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $102 million higher, and member bank borrowings were $26 million lower. Outright holdings of bills, notes, and bonds increased $735 million, $35 million, and $27 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 5, June 28, I July 6, July 5, and related items 1967 1967 1 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account ^•6,755 +831 ^6,975 Held under repurchase agreements 51 + 35 4- k-7 102 Federal Agency obligations-- Held under repurchase agreements 3 17 Acceptances-- Bought outright 92 + 12 + 9 1 96 Held under repurchase agreements 45 - 3 - 109 42 Discounts and advances-- Member bank borrowings 353 +212 - 474 84 Other 13 - 11 + 8 5 Float 1,231 -177 - 775 1 1,489 Total Reserve Bank credit WBT3 +901 +2,884 ; 118,810 Gold stock 13,H0 + 2 - 324 1 13,109 Treasury currency outstanding 6,618 + 8 + 653 6,619 68,270 +910 +3,212 68,538 Currency in circulation 44,851 +277 +2,214 45,180 Treasury cash holdings 1,1^4 + 96 + 409 1,^92 Treasury deposits with F.R. Banks 1,088 +120 + 378 1 289 Foreign deposits with F.R. Banks l48 + 22 - 60 | 174 Other deposits with F. R. Banks 508 + 18 + 80 1 519 Other F.R. accounts (net) 360 -170 - 94 399 48, I130 +363 +2,927 1 48,053 Member bank reserves: With Federal Reserve Banks 19,81)1 +5^8 + 287 | 20,liR5 Currency and coin (estimated) V,058 -190 + 439 1 3,995 Total reserves held 23,899 +358 + 726 24,480 Required reserves (estimated) 23,39^ +273 + 571 23,372 Excess reserves (estimated) 505 + 85 + 155 1 1,108 On July 5> 1967^ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,719 million, a decrease of $62 million for the week and an increase of $202 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 July 5, June 28, July 6, 1967 1967 1966 A S S E TS Gold certificate account 10,769 + 13 — 451 Redemption fund for F. R. notes 1,839 + 2 + 66 Total gold certificate reserves 12,608 + 15 - 385 Cash (447) 308 - 16 + 59 Discounts and advances 89 39 - 176 Acceptances: Bought outright 96 + 10 + 15 Held under repurchase agreements 42 - 4 - 130 Federal Agency obligations-- Held under repurchase agreements 17 17 17 U. S. Government securities: Bought outright- Bills 14,347 735 +3. 457 Certificates 4,353 +4, 338 Notes 21,737 + 35 -3 : 589 Bonds 6,538 + 27 + 62 Total bought outright 46,975 + 797 +4,268 Held under repurchase agreements 102 + 102 + 76 Total U. S. Government securities 47,077 + 899 +4,344 Total loans and securities 47,321 + 883 +4,070 Cash items in process of collection (2,211) 6,900 53 - 187 Bank premises 109 + 5 Other assets l/ 1,089 + 83 + 143 TOTAL ASSETS/LIABILITIES 2c CAPITAL ACCOUNTS (2,658) 68,335 + 912 +3,705 L I A B I L I T I ES Federal Reserve notes (447) 39,860 + 509 +1,980 Deposits: Member bank reserves 20,485 +1,484 +1,529 U. S. Treasurer--general account 289 - 926 - 404 Foreign 174 + 47 19 Other 2/ 519 + 64 + 121 Total deposits 21:, 467 + 669 +1, 227 Deferred availability cash items (2,211) 5 ,411 - 311 + 410 Other liabilities and accrued dividends 252 + 8 + 28 TOTAL LIABILITIES (2,658) 66,990 + 875 +3,645 C A P I T AL A C C O U N TS Capital paid in 585 + 23 Surplus 570 + 19 Other capital accounts 190 • 37 + 18 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.3% .3% - 2.47 0 Contingent liability on acceptances purchased for foreign correspondents 372 - 9 + 108 * 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 OF LOANS AND SECURITIES, JULY 5, 19o7 (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 84 66 1,654 - 89 16 days to 90 days 5 72 12,418 +608 91 days to 1 year 18,085 +335 Over 1 year to 5 years 13,407 + 45 Over 5 years to 10 years 1,014 + 12 Over 10 years 516 + 5 Total 89 138 47,094 +916 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(lo) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 5, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account i 10,769 664 2,690 645 822 1,049 530 1,804 471 204 436 412 1, 042 Redemption fund for F. R, notes 1,839 lQl< 442 98_ 150 159 100 334 64 32 71 62 22-3 Total gold certificate reserves 12,608 768 3,132 743 972 1,208 630 2,138 535 236 507 474 1,265 F. R. notes of other Banks U*-7 22 135 19 45 31 45 27 19 16 21 20 47 Other cash 308 10 31 7 48 15 40 56 31 7 16 16 31 Discounts and advances j 89| 19 7 4 3 4 1 31 5 2 8 4 1 Acceptances: Bought outright ^ 961 96 -- -- -- -- -- -- -- -- -- Held under repurchase agreements 1 I4-2 -- 42 — — — -- -- -- Federal Agency obligations— Held under repurchase agreements 17 17 U. S. Government securities: Bought outright-- Bills 1^3^-7 772 3,589 727 1,103 1,021 790 2, 410 489 292 556 592 2,006 Certificates ^ 353 234 1,089 221 335 309 239 732 148 89 169 179 609 Notes 21,737 1,169 5,437 1,103 1,671 1, 547 1,196 3,652 740 443 842 897 3,0^0 Bonds 6,538 352 1,635 332 503 465 360 1,098 223 133 253 270 914 Total "^•6,975! 2,527 11,750 2,383 3,612 3,342 2,585 7,892 1,600 957 1,820 1,938 6,569 Held under repurchase agrrements 102 -- 102 -- -j- -- — -- -- -- -- -- -- Total U. S. Government securities kj,077 2,527 11,852 2,383 3,612 3,342 2,585 7,892 1,600 957 1,820 1.938 6,569 Total' "loans and securities ^7,321 2,546 12,014 2,387 3,615 3,346 2,586 7,923 1,605 959 1,828 1,942 6,570 Cash items in process of collection 9,m 539 l, 54i 590 665 779 854 1,474 450 259 606 512 842 Bank premises 109; 3 10 2 5 6 20 19 9 3 14 9 9 Other ^ssets l/ 1,089: 42 452 4j_ 73 53 50 131 30 19 35 43_ 114 ! TOTAL ASSETS 70,99^ 3,930 17,315 3,795 5,423 5,438 4,225 11,768 2,679 1,499 3,027 3,016 8,878 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.h.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 5, 1967 "1 ! 1 1 1 7- r San j New i Phila-j Cleve 1 Rich- St. Kansas Total Boston ! York 'delphia1 land | mond [Atlanta Chicago! Louis Minne City ! Dallas Fran 1 ! apolis 1 ! cisco 1 (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,307 2,418 9,355 2,339 3,217 3,709 2,279 7,143 1,472 712 1,531 1,307 4,825 Deposits: 20,485 828 5,858 817 1,480 955 1,143 3,113 756 519 888 1,162 2,966 Member bank reserves U.S. Treasurer--general a ccount 289 18 4 17 9 18 33 28 49 16 26 20 51 Foreign 174 8 1/ 56 8 14 8 10 23 6 4 7 9 21 Other 519 * .2/434 1 1 7 2 2 1 1 3 1 66 Total deposits 21,467 854 6,352 843 1,504 988 1,188 3,166 812 540 924 1,192 3,104 Deferred availability cash items 7,622 580 1,188 529 565 650 663 1,218 341 211 504 433 740 Other liabilities and accrut ed dividends 252 13 69 13 19 17 13 41 8 5 10 10 34 TOTAL LIABILITIES 69,648 3,865 16,964 3,724 5,305 5,364 4,143 11,568 2,633 1,468 2,969 2,942 8,703 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 190 10 51 10 15 14 10 32 6 3 7 7_ 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,993 3,930 17,315 3,795 5,423 5,438 4,225 11,768 2,679 1,499 3,027 3,016 8,878 Contingent liability on acee ptances purchased for forei correspondents 372 18 V 97 19 34 19 23 54 13 9 16 22 48 FEDERAL RESERVE AGENTS ' ACCOUNTS F. R. notes outstanding 41,786 2,497 9,756 2,383 3,430 3,791 2,363 7,341 1,536 734 1,583 1,386 4,986 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 securitie s 36,481 2,056 8,900 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,230 4,600 Total collateral 43,127 2,506 9,900 2,494 3,600 3,840 2,500 7,550 1,615 752 1,625 1,410 5,335 1/ After deducting $118 million participations of other Federal Reserve Banks, 2/ Includes IMF gol£ deposit. * Less than $500,000. other Federal Reserve Banks. 3/ After deducting $275 million participations of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis