H.4.1 Factors Affecting Reserve Balances of Depository Institutions

..•&SK&-. 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 July 20, 1967 The average of daily figures of total member bank reserves held during the week ended July 19, decreased a net of $206 million to $23,856 million. Estimated currency and coin of member banks increased $123 million and their re serve balances at the Federal Reserve Banks decreased $329 million. Estimated required reserves increased $209 million; and estimated excess reserves decreased $415 million to $246 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $195 million, compared with the revised figure of $592 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $630 million in U. S. Government securities bought outright,$66 million in acceptances held under repurchase agreements, and $52 million in U. S. Government securities held under repurchase agreements. The principal offsetting changes were an increase of $143 million in Federal Reserve float, and decreases of $171 million in currency in circulation, and $90 million in "other" F. R. Accounts (net). Total Reserve Bank credit decreased $642 million. As of Wednesday, July 19, 1967, holdings of U. S. Government securities bought outright were $451 million lower than a week earlier, and member bank borrowings were $21 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 19, July 12, July 20, July 19, and related items 1967 JM1 1Q66 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 46,471 -630 +4,787 I 46,309 Held under repurchase agreements - 52 Federal Agency obligations- Held under repurchase agreements -Acceptances— Bought outright 85 - 10 10 81 Held under repurchase agreements - 66 Discounts and advances- Member bank borrowings 51 - 18 - 580 52 Other 2 - 3 + 2 Float 1,847 +143 -1,378 1,753 Total Reserve Bank credit 48,455 -642 +2,640 48 ,195 Gold stock 13,109 - 1 - 325 13 ,109 Treasury currency outstanding 6,603 - 7 + 637 6 ,612 68,168 -649 +3,152 67,916 Currency in circulation 45,085 -171 +2 ,164 45,052 Treasury cash holdings 1,477 - 2 + 415 1,480 Treasury deposits with F.R. Banks 1,021 - 52 - 135 1,155 Foreign deposits with F. R. Banks 128 - 6 - 32 120 Other deposits with F.R. Banks 484 -- + 51 481 Other F. R. accounts (net) 380 - 90 + 48 402 48,576 -320 +2 ,512 48,690 Member bank reserves: With Federal Reserve Banks 19,592 -329 + 641 19,226 Currency and coin (estimated) 4,264 +123 + 280 4,646 Total reserves held 23,856 -206 + 921 23,872 Required reserves (estimated) 23,610 +209 + 846 23,804 Excess reserves (estimated) 246 -415 + 75 68 On July 19, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,354 million, a decrease of $113 million for the week and an increase of $230 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 JJuullyy 1199,, JJuul]y 12, July 20, 11996677 1967 1966 A S S E TS Gold certificate account 10,745 - 12 - 426 Redemption fund for F. R. notes 1,857 + 9 + 39 Total gold certificate reserves 12,602 - 3 - 387 Cash (593')) 317 + 18 4- 70 Discounts and advances 52 - 24 - 198 Acceptances: Bought outright 81 - 10 •• 10 Held under repurchase agreements - 66 Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright — Bills 13., 681 -451 +3,,5 42 Certificates 4,,3 53 -- +4,, 338 Notes 21., 737 -- -3., 589 Bonds 6,,5 38 -- 62 Total bought outright 46,, 309 -451 +4", 353 Held under repurchase agreements Total U. S. Government securities 46, 309 -451 +4., 353 Total loans and securities 46., 442 -551 +4 : , 165 Cash items in process of collection (2,031) 7,,8 40 +162 - 689 Bank premises 109 -- + 5 Other assets 1/ 997 - 13 + 31 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,624) 68,307 -387 +3,195 11£ B1 1 1 1I IS Federal Reserve notes (593) 39,730 -238 +1,928 Deposits: Member bank reserves 19,226 -157 + 480 U. S. Treasurer—general account 1,155 - 20 + 383 Foreign 120 - 15 - 37 Other 2/ 481 - 12 + 56 Total deposits 20,982 -204 + 882 Deferred availability cash items (2,031) 6,087 + 26 + 299 Other liabilities and accrued dividends 241 - 5 + 38 TOTAL LIABILITIES (2,624) 67,040 -421 +3, 147 C A P I T AL A C C O U N TS Capital paid in 586 __ + 22 Surplus 570 -- + 19 Other capital accounts 111 + 34 + 7 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31.3% +.1% - 2.3% Contingent liability on acceptances purchased for foreign correspondents 355 9 + 108 * Figures in parentheses are the eliminations made in the consolidating process. JV Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 19, 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 48 21 22.,,0 01166 +680 16 days to 90 days 4 60 1111, ,554411 -926 91 days to 1 year -- — 1177.,, 881155 -205 Over 1 year to 5 years 13., 407 Over 5 years to 10 years 1.,0 14 Over 10 years 516 Total 52 81 46,309 -451 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 JULY 19, 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 10,745 642 2,051 691 874 1,082 608 1,948 418 199 464 422 1,346 Redemption fund for F. R. notes 1,857 106 452 98 150 164 99 334 65 32 71 63 223 Total gold certificate reserves 12,602 748 2,503 789 1,024 1,246 707 2,282 483 231 535 485 1,569 F. R. notes of other Banks 593 35 177 36 42 46 54 35 26 18 26 22 76 Other cash 317 11 37 7 47 16 40 56 31 8 16 16 32 Discounts and advances 52 17 4 Vc 14 Acceptances: Bought outright 81 81 Held under repurchase agreements Federal Agency ohligationsi Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,681 736 3,458 694 1,052 974 753 2,298 466 279 524 534 1,913 Certificates 4,353 234 1,100 221 335 309 239 732 148 89 167 170 609 Notes 21,737 1,169 5,495 1,103 1,671 1,547 1,196 3,652 740 443 833 848 3,040 Bonds 6,538 352 1,653 331 503 465 360 1,098 223 133 251 255 914 Total 46,309 2,491 11,706 2,349 3,561 3,295 2,548 7,780 1,577 944 1,775 1,807 6,476 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- — Total U. S. Government securities 46,309 2,491 11,706 2,349 3,561 3,295 2,548 7,780 1,577 944 1,775 1,807 6,476 Total loans and securities 46,442 2,508 11,791 2,350 3,561 3,299 2,549 7,794 1,577 946 1,780 1,811 6,476 Cash items in process of 9,871 612 1,663 570 722 831 861 1,630 489 319 654 551 969 collection Bank premises 109 1 3 10 2 5 6 20 19 9 3 14 9 9 Other assets l/ 997 39 428 41 65 48 44 119 26 16 32 37 102 TOTAL ASSETS 70,931 (3,956 16,609 3,795 5,466 5,492 4,275 11,935 2,641 1,541 3,057 2,931 9,233 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 CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 19, 1967 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,323 2,424 9,349 2,343 3,232 3,690 2,269 7,168 1,475 713 1,531 1,315 4,814 Deposits: Member bank reserves 19,226 827 4,949 823 1,365 903 1,110 3,044 644 488 873 1,046 3,154 U.S. Treasurer—general .a ccount 1,155 66 159 65 91 107 70 139 89 38 92 68 171 Foreign 120 6 1/ 31 6 11 6 8 17 4 3 5 7 16 481 2/394 * 1 10 1 3 1 2 3 1 65 Other Total deposits 20,982 899 5,533 894 1,468 1,026 1,189 3,203 738 531 973 1,122 3,406 .Deferred availability cash items 8,118 559 1,338 478 635 691 726 1,337 377 261 487 414 815 -=Sther liabilities and accna ed dividends 241 13 60 13 19 17 13 40 8 6 10 9 33 TOTAL LIABILITIES 69,664 3,895 16,280 3,728 5,354 5,424 4,197 11,748 2,598 1,511 3,001 2,860 9,068 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 111 6 29 6 9 7 6 19 3 2 5 4 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,931 3,956 16,609 3,795 5,466 5,492 4,275 11,935 2,641 1,541 3,057 2,931 9,233 Contingent liability on ac(; eptances purchased for forei gn correspondents 355 17 3/ 92 18 32 18 22 52 12 9 16 21 46 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 42,138 2,519 9,804 2,400 3,459 3,819 2,385 7,392 1,553 736 1,595 1,417 5,059 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 36,671 2,096 9,000 2,000 3,000 3,160 2,050 6,150 1,310 625 1,400 1,280 4,600 Total collateral 43,391 2,546 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. 3/ After deducting $263 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis