H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and '"f**LV&?. Condition Statement of F.R. Banks H.4.1 For immediate release August 10, 1967 The average of daily figures of total member bank reserves held during the week ended August 9, decreased a net of $8 million to $23,959 million. Estimated currency and coin of member banks decreased $391 million and their reserve balances at the Federal Reserve Banks increased $383 million. Estimated required reserves decreased $132 million; and estimated excess reserves increased $12*i million to $*M5 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $32^ million, compared with the revised figure of $175 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $127 million in U. S. Government securities held under repurchase agreements, $^9 million in acceptances held under repurchase agreements, and a decrease of $V70 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $5^v million in Federal Reserve float, and an increase of $140 million in currency in circulation. Total Reserve Bank credit increase $66 million. As of Wednesday, August 9, 1967, holdings of U. S. Government securities and those held under repurchase agreements were unchanged from a week earlier, and member bank borrowings were $2^6 million lower. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 9, Aug. 2, Aug. 10, Aug. 9, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account l*-6,80lj. ~ 29 +4,573 46,804 Held under repurchase agreements 127 +127 - 225 Federal Agency obligations-- Held under repurchase agreements Acceptances- Bought outright 80 -- + 31 82 Held under repurchase agreements 49 + 49 + 49 48 Discounts and advances— Member bank borrowings 91 - 25 691 261 Other .- - 3 4 Float 1,385 - 54 939 1,225 Total Reserve Bank credit 48,536" + 66 +2,793 i)8,420 Gold stock 13,057 - 37 - 276 13,059 Treasury currency outstanding 6,642 + 10 + 639 6,642 68,235 + 39 +3,156 68,121 Currency in circulation 44,985 +l4o +2,077 45,164 Treasury cash holdings 1,480 + 3 + 433 1,495 Treasury deposits with F. R. Banks 920 -470 - 185 917 Foreign deposits with F. R. Banks 128 + 13 11 116 Other deposits with F. R. Banks I1.57 - 7 + 53 467 Other F. R. accounts (net) 226 - 24 - 57 221 48,196 ^W 757350 +2,310 Member bank reserves: With Federal Reserve Banks 20,038 +383 + 844 19,741 Currency and coin (estimated) 3,921 -391 + 237 4,356 Total reserves held 23,959 - 8 +1,081 24,097 Required reserves (estimated) 23,544 -132 +1,127 23,489 Excess reserves (estimated) 415 +124 - 46 608 On August 9, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,368 million, a decrease, of $263 million for the week and a decrease 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) ^ since Aug. 9, Aug. 2, Aug. 10, 1967 1967 1966 A S S E TS Gold certificate account 10,700 - 10 - 350 Redemption fund for F. R. notes 1,849 + 5 + 34 Total gold certificate reserves * 12,549 - 5 - 316 Cash (578) 326 - 1 + 45 Discounts and advances 261 -251 - 265 Acceptances: Bought outright 82 + l + 3* Held under repurchase agreements 48 + 48 + 48 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright- Bills 14,176 +3,887 Certificates ^,353 +4,338 Notes 21,737 -3,589 Bonds 6,538 + 62 Total bought outright 46,804 +4,698 Held under repurchase agreements - 342 Total U. S. Government securities 46,804 +4,356 Total loans and securities 47,195 -202 +4,173 Cash items in process of collection (1,679) 6,763 -1)84 - 290 Bank premises 110 + 1 + 6 Other assets 1/ 1,301 + 33 + 150 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS((22,,225577) ) 68,244 -658 +3,768 LIABILITIES Federal Reserve notes (578) 39,833 +217 +l,9H Deposits: Member bank reserves 19,7^1 -136 +1,253 U. S. Treasurer—general account 917 -4o6 - 73 Foreign 116 - 11 8 Other 2/ 1*67 - 8 + 57 Total deposits 21,241 -561 +1,229 Deferred availability cash items (1,679) 5,538 -350 + 515 Other liabilities and accrued dividends 253 - 2 + I15 TOTAL LIABILITIES (2;257) 66,865 +3,700 C A P I T AL A C C O U N TS Capital paid in 587 + 1 + 23 Surplus 570 + 19 Other capital accounts 222 + 37 + 26 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the folloitfing pages—not consolidated) 31.1$ -.1* - 2.1$ Contingent liability on acceptances purchased for foreign correspondents 296 - 13 + 27 * Figures in parentheses are the eliminations made in the consolidating process. 17 Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 9, 1967 (Acceptances and securities held under repurchase agreements are clasified as maturing within 15 days in accordance \<fith maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 256 65 7,512 -21 16 days to 90 days 5 65 6,456 +25 91 days to 1 year -- -- 17,899 - h Over 1 year to 5 years -- ~- 13,407 Over 5 years to 10 years -- — 1,0l4 Over 10 years -- -- 516 Total 261 130 46,804 ~ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1 (h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions3 of dollars) A S S E TS Gold certificate account 10,700 617 2,533 602 690 896 567 1,855 375 186 37^- 488 1,517 Redemption fund for F. R. notes 1,849 106 450 97 149 164 99 333 64 32 70 63 222 Total gold certificate reserves 12,5^9 ! 723 2,983 699 839 1,060 666 2,188 439 218 444 551 1,739 F. R. notes of other Banks 578! 5^- 181 37 40 42 57 28 21 25 23 19 51 Other cash | 326 12 35 8 50 18 4o 58 32 7 17 15 3^- Discounts and advances 261! 16 57 * ^7 33 8 67 l 7 18 5 2 Acceptances: Bought outright 821 82 -- -- -- -- — — -- -- — Held under repurchase agreements 48 48 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 14,176! 7^6 3,^89 720 1,109 1,034 803 2,373 499 290 558 571 1,984 Certificates , M 53 229 1,072 222 318 246 728 153 89 171 175 609 Notes 21,737! 1,143 5,350 1,105 1,701 1,586 1,232 3,639 766 44-4 855 874 3,042 Bonds 6,538i 3hk 1,609 332 511 ij77 371 1,095 230 133 257 264 915 Total 46,804 2, 462 11,520 2,379 3,662 3A15 2,652 7,835 1,648 956 l,84i 1,884 6,550 Held under repurchase agreements Total U. S. Government securities 46,804i 2,462 11,520 2,379 3,662 3,^15 2,652 7,835 1,648 956 l,84i 1,884 6,550 Total loans and securities 47,1951 2, 478 11,707 2,379 3,709 3,^8 2,660 7,902 1,649 963 1,859 1,889 6,552 : Cash items in process of collection 8,442: 556 1,^15 515 59^ 687 761 1,332 4i6 289 567 460 850 Bank premises 110 3 10 2 6 6 20 19 9 3 14 9 9 Other assets l/ 1,301 53 505 58 90 67 62 164 38 24 V5 53 142 TOTAL ASSETS 70,501 3,879 16,836 3,698 5,328 5,328 4,266 11,691 2,6o4 1,529 2,969 2,996 9,377 1/ 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.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 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) L I A B I L I T I ES Federal Reserve notes 40,411 2,408 9,382 2,328 3,243 3,706 2,273 7*191 1,479 707 1,533 1,326 4,835 Deposits: Member bank reserves 19,741 790 5,308 778 1,347 876 1,131 2,962 693 492 864 1,136 3,364 U.S. Treasurer—general account 917 61 142 53 37 61 98 138 40 42 37 59 149 Foreign 116 5 1/ 31 6 10 6 7 17 4 3 5 7 15 Other 467 * 2/382 1 10 4 P * 3 1 Total deposits 21,241 856 5,863 837 1,395 953 1,240 3,119 737 537 909 1,203 3,592 Deferred availability cash items 7,217 535 1,171 446 549 575 654 1,134 332 247 457 383 734 Other liabilities and accrued 253 13 62 14 20 18 14 41 9 6 11 10 35 dividends TOTAL LIABILITIES 69,122 3,812 16,478 3,625 5,207 5,252 4,181 11,485 2,557 1,497 2,910 2,922 9,196 CAPITAL ACCOUNTS Capital paid in 587 28 153 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 222 12 57 12 18 "is 7 h 8 7 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,501 ...3.,879__. 16,836 -liM- -5,328_ _1L328_ 4.266 11,691 2.604 1.529 2.969 2.9Q6 9,, 377 Contingent liability on accept ances purchased for foreign correspondents 296 14 3/ 77 16 27 15 18 i£3_ 10 I_ 11 il_ 1Q FEDERAL RESERVE AGENTS1 ACCOUNTS F. R* notes outstanding 2,498 9,807 2,382 3,460 3,820 2,366 7,415 1,550 739 1,59^ 1,404 5,039 Collateral for F. R. notes: Gold certificate account 450 1,000 503 600 74o 450 l,4oo 310 127 225 180 735 Eligible paper U. S. Government securities 2,096 9,000 2,000 3,000 3,160 2,050 6,150 1,310 625 i,4oo 1,280 4,600 Total collateral 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 $ «5 million participations of other Federal Reserve Banks. _2/ Includes IMF gold deposit. Less than $500,000. 3/ After deducting $219 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis