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 H.4.1 For immediate release July 13, 1967 The average of daily figures of total member bank reserves held during the week ended July 12, increased $113 million to $2^,010 million. Estimated currency and coin of member banks increased $33 million and their reserve balances at the Federal Reserve Banks increased $80 million. Estimated required reserves decreased $71 million; and estimated excess reserves increased $184 million to $666 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $597 million, compared with the revised figure of $129 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $^73 million in Federal Reserve float, and $3^6 million in TJ. S. Government securities bought outright. The principal offsetting changes were a decrease of $284 million in member bank borrowings, and increases of $^05 million in currency in circulation, and $110 million in "other" F. R. accounts (net) Total Reserve Bank credit increased $55^- million. As of Wednesday, July 12, 1967, holdings of U. S. Government securities bought outright were $215 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $102 million lower, and member bank borrowings were $11 million lower Average of daily figu res Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 12, July 5, July 13, July 12, and related items, 1967 1967 , 1966 1967 (In 11l illions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 47,101 +346 +4,448 46,760 Held under repurchase agreements 52 + 1 + 49 — Federal Agency obligations-- Held under repurchase agreements 5 f 2 5 Acceptances-- Bought outright 94 + 2 • 14 91 Held under repurchase agreements 66 + 21 34 66 Discounts and advances — Member bank borrowings 69 -281* - 749. 73 Other 5 - 8 + 5 3 Float 1,704 +473 - 726 1,617 Total Reserve Bank credit 49,097 +554 +3,012 ¥87610 Gold stock 13,110 -- - 325 13,109 Treasury currency outstanding 6,610 - 8 + 638 6,599 68,817 +547 +3,326 587318' Currency in circulation 45,256 +405 +2,237 45,300 Treasury cash holdings l, 479 + 5 + 413 l, 472 Treasury deposits with F. R. Banks 1,073 - 15 + 51 1,175 Foreign deposits with F. R. Banks 134 - 14 - 13 135 Other deposits with F. R. Banks 484 - 24 + 66 493 Other F. R. accounts (net) 470 +110 + 33 360 48,896 +466 +2,788 TO, 935 Member bank reserves: With Federal Reserve Banks 19,921 + 80 + 538 19,383 Currency and coin (estimated) 4,089 + 33 + 220 4,709 Total reserves held 24,010 +113 + 758 24,092 Required reserves (estimated) 23,344 - 71 + 816 23,7^3 Excess reserves (estimated) 666 +184 - 58 349 On July 12, 1967, U. S. Government securities held in custodyb y the Federal Reserve Banks for foreign account were $7,467 million, a decreas e of $252 million for the week and an increase of $92 million from the comparabled ate a year aero. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT CF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since July 12, July 5, July 13, 1967 1967 1966 A S S E TS Gold certificate account 10,757 12 - 455 Redemption fund for F. R. notes 1,848 + 9 + 67 Total gold certificate reserves 12,605 3 - 388 * Cash (467) 299 9 + 55 Discounts and advances 76 13 - 309 Acceptances: Bought outright 91 5 + 15 Held under repurchase agreements 66 + 24 14 Federal Agency obligations-- Held under repurchase agreements 17 U, S„ Government securities: Bought outright-- Bllls 14,132 215 +3,551 Certificates 4,353 -- +4,338 Notes 21,737 -- -3,589 Bonds 6,538 -- + 62 Total bought outright 46,760 - 215 +4,362 Held under repurchase agreements -- 102 -- Total U. S. Government securities 46,760 '- 317 +4,362 Total loans and securities 46,993 - 328 +4,054 Cash items in process of collection (1,808) 7,678 + 778 - 671 Bank premises 109 -- + 5 Other assets 1/ 1,010 - 79 + 52 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,275) 68,694 +_ 359 +3,107 Federal Reserve notes (467) 39,968 + 108 4-1,997 Deposits: Member bank reserves 19,383 -1, 102 + 677 U. S. Treasurer--general account 1,175 + 886 + 37 Foreign 135 - 39 - 15 Other 2/ (1) 493 - 26 + 75 Total deposits 21,186 - 281 + 774 Deferred availability cash items (1,807) 6,061 + 650 + 256 Other liabilities and accrued dividends 246 - 6 + 31 TOTAL LIABILITIES (2,275) 67,461 + 471 +3, 058 £ k 1 1 1 £ h M £ M NT S Capital paid in 586 1 + 24 Surplus 570 -- + 19 Other capital accounts 77 113 + 6 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31.27o . 1% - 2,47o Contingent liability on acceptances purchased for foreign correspondents 364 8 + 102 * Figures in parentheses are the eliminations made in the consolidating process. JL/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 12, 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 72 93 1,336 -318 16 days to 90 days 4 64 12,467 + 49 91 days to 1 year 18,020 - 65 Over 1 year to 5 years 13,407 Over 5 years to 10 years 1,014 Over 10 years 516 Total 76 157 46,760 •334 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. it. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK JULY 12, 1967 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran ciscc (In nn- ILion cf dollart0 A S S E TS : Gold certificate account 10,757 602 2,259 672 881 1,011 585 1,779 k63 218 357 408 1, 522 Redemption fund for F. R. notes 1,61+8 104 452 98 150 157 99 33k 6_5_ 32 70 64 223 Total gold certificate reserves 12,605 706 2,711 770 1,031 1,168 68^ 2,113 528 250 427 472 1,745 F. R. notes cf other Banks 1+67 24 l6l 20 39 35 4i 25 18 15 19 17 52 Other cash 299 9 31 6 kl 15 39 5k 30 7 16 15 3C Discounts and advances 76 15 2 * 3 1 3 20 * 5 5 4 18 Acceptances: Bought outright 1 91 — 91 -- — — -- -- -- — — -- -- Held under repurchase agreements 66 66 -- — -- -- — — — — -- Federal Agency obligations-- Held under repurchase agreements : U. S. Government securities: 1 Bought outright-- Bills ! lfc-,132 760 3,535 716 1,086 1,006 778 2, 31k kQ2 288 579 552 1,976 Certificates ! M53 234 1,089 221 335 309 239 732 l48 89 178 170 609 Notes ! 21,737 '1,169 5,^37 1,103 1,671 1,547 1,196 3,652 74o kk3 891 848 3,040 Bonds r 6,538 • 352 1,635 332 503 U65 360 1,098 223 '133 '268 255 9l4 Total 46,760 ;2,5i5 11,696 2,372 3,595 3,327 2,573 7,856 1,593 953 1,916 1,825 6,539 Held under repurchase agreements -_-_• -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities ^6,760 2,515 11,696 2,372 3,595 3,327 2,573 7,856 1.593 953 1.916 1,825 6,539 Total loans and securities 46,993 2,530 11,855 2,372 3,598 3,328 2,576 7,876 1,593 958 1,921 1,829 6,557 Cash items in process of : collection 9,486 59k 1,551 5^7 676 753 890 1,553 ^85 313 587 586 951 Bank premises 109 3 10 2 5 6 20 19 9 3 14 9 9 Other assets l/ 1,010 39 431 k2 65 UQ 1)6 120 2J_ 18 32 38 104 ^ TOTAL ASSETS J 70,969 3,905 16,750 3,759 5,46i 5,353 k, 296 11,760 2,690 1,564 3,016 2,966 9,^-9 i/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 12, 1967 San New I Phila-j Cleve- Rich St. j Minne-j Kansas Total Boston Atlanta Chicago! Dallas Fran York j delphia | land mond Louis j apolisj Citycisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,435 2,434 9,347 2,352 3,236 3,708 2,288 7,174 1,478 717 1,533 1,316 4,852 Deposits: Member bank reserves 19,383 797 5,181 770 1,335 864 1,087 2,906 694 499 843 1,054 3,353 U.S. Treasurer--general account 1,175 53 180 80 139 69 65 137 73 42 92 75 170 Foreign 135 6 1/ 46 6 11 6 8 17 4 3 5 7 16 Other 494 vV 2/401 1 2 9 1 2 1 1 3 Vr 73 Total deposits 21,187 856 5,808 857 1,487 948 1,161 3,062 772 545 943 1,136 3,612 Deferred availability cash items 7,868 543 1,212 474 610 614 756 1,301 390 268 475 434 791 Other liabilities and accrued dividends 246 13 63 11 19 17 14 42 8 5 11 10 33 TOTAL LIABILITIES 69,736 3,846 16,430 3,694 5,352 5,287 4,219 11,579 2,648 1,535 2,962 2,896 9,288 CAPITAL ACCOUNTS Capital paid in 586 28 152 31 52 31 37 85 20 14 26 34 76 Surplus 570 ; 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 77 i , ^ 20 4 6 5 5 13 2 1 3 3 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,969 : 3,905 16,750 3,759 5,461 5,353 4,296 11,760 2,690 1,564 3,016 2,966 9,449 Contingent liability on accept ances purchased for foreign correspondents ___ 364 17 3/ 9'- 19 33 19 23 53 13 16 21 47 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 42,070 I 2,484 9,806 2,388 3,457 3,819 2,388 7,386 1,544 739 1,593 1,409 5,057 Collateral for F. R. notes: Gold certificate account 6,720 450 1,000 503 600 740 450 1,400 310 127 225 180 735 Eligible paper U. S. Government securities 36,6311 2,056 9,000 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,280 4,600 Total collateral 43,351 2,506 10,000 2,503 3,600 3,900 2,500 7,550 1,620 752 1,625 1,460 5,335 1/ After deducting $ 89 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. y After deducting $270 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis