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 H.4.1 August 17, 1967 The average of daily figures of total member bank reserves held during the week ended August 16, decreased a net of $240 million to $23,740 million. Estimated currency and coin of member banks increased $215 million and their reserve balances at the Federal Reserve Banks decreased $455 million. Estimated required reserves decreased $24l million; and estimated excess reserves increased $1 million to $387 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $258 million, compared with the revised figure of $295 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $200 million in U. S. Government securities bought outright, $49 million in acceptances held under repurchase agreements, and increases of $150 million in currency in circulation, and $87 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $244 million. As of Wednesday, August 16, 1967, holdings of U. S. Government securities bought outright were $200 million lower than a week earlier, and member bank borrowings were $6 million lower. Outright holdings of bills and certificates decreased $200 million, and $4,353 million, respectively. Notes increased $4,353 million as a result of the Treasury refinancing. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 16, Aug. 9, Aug. 17, Aug. l6, and related items 1967 ML 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 46,604 -200 +^795 46,604 Held under repurchase agreements 110 - 17 - 84 Federal Agency obligations- Held under repurchase agreements- Acceptances— Bought outright 80 33 77 Held under repurchase agreements - 49 Discounts and advances- Member bank borrowings 129 + 38 - 601 255 Other 1 Float 1,367 - 18 -1,157 1,502 Total Reserve Bank credit 48,292 -244 +2,98f 48,438 Gold stock 13,057 -- - 275 13,059 Treasury currency outstanding 6,656 + Ik + 642 6,658 68,005 -230 +3,354 68,155 Currency in circulation ^•5,135 +150 +2,135 45,162 Treasury cash holdings 1,486 + 6 + 4i7 1,507 Treasury deposits with F. R. Banks 1,007 + 87 - 58 971 Foreign deposits with F. R. Banks 126 - 2 5 128 Other deposits with F. R. Banks 471 + Ik + 57 465 Other F. R. accounts (net) 198 - 28 - 67 234 48,422 +226 +2,479 S874T6" Member bank reserves: With Federal Reserve Banks 19,583 -455 + 875 19,689 Currency and coin (estimated) JiA57 +215 4 259 4,520 Total reserves held 23,7^-0 -240 +1,134 24,209 Required reserves (estimated) 23,353 -24l +1,024 23,512 Excess reserves (estimated) 387 + 1 + 110 697 On August 16, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign acc ount were $7,326 million, a decrease of $4-2 million for the week and a decrease of $l47 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 JPEDfckAL RESERVE BANKS (tri milHbtiS of dollars) Change since Aug. 16, Aug. 9, Aug. 17, 1967 1967 1966 A S S E TS Gold certificate account 10,692 8 - 353 Redemption fund for F. R. notes 1,852 + 3_ + 39 Total gold certificate reserves 12,544 5 - 314 Cash ( 582)) 333 + 7 + 45 Discounts and advances 255 6 - 55 Acceptances: Bought outright 77 5 + 29 Held under repurchase agreements 48 Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,976 - 200 +4,160 Certificates — -4,353 -4,366 Notes 26,090 +4,353 +5,077 Bonds 6,538 zz + 100 Total bought outright 46,604 - 200 +4,971 Held under repurchase agreements -- -- — Total U. S. Government securities 46,604 - 200 +4,971 Total loans and securities 46,936 - 259 +4,945 Cash items in process of collection (2,221) 8,238 +1,475 - 216 Bank premises 110 -- + 6 Other assets 1/ 1,159 - 142 + 249 TOTAL ASSETS/LIABILITIES 6c CAPITAL ACCOUNTS (2,803) 69,320 +1.076 +4,715 J± 1 £ I IL 11 IE £ Federal Reserve notes ( 582) 39,828 5 +1,954 Deposits: Member bank reserves ,689 - 52 +1,732 U. S. Treasurer — general account 971 + 54 + 1 Foreign 128 + 12 5 Other 2/ 465 - 2 + 53 Total deposits 21,253 + 12 +1 ,781 Deferred availability cash items (2,221) 6,736 +1,198 + 884 Other liabilities and accrued dividends 246 - £ + 44 TOTAL LIABILITIES (2,803) 68,063 +1,198 +4,663 C A P I T AL A C C O U N TS Capital paid in 537 .. + 22 Surplus „ + 19 570 Other capital accounts 100 122 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31.07* ,1% - 2.2% Contingent liability on acceptances purchased for foreign correspondents 280 16 +9 * 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, AUGUST 16, 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 235 17 1,980 -5,532 16 days to 90 days 20 60 5,856 - 600 91 days to 1 year „ „ 22,607 +4,708 Over 1 year to 5 years „ „ 14,745 +1,338 Over 5 years to 10 years .- „ 900 . 114 Over 10 years ...» __ 516 Total 25? 77 46,604 - 200 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 AUGUST l6, 1967 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,692 584 2,706 648 794 954 605 1,813 423 188 367 492 1,118 Redemption fund for F. R. notes 1,852 106 449 97 149 161 98 333 66 32 70 64 227 Total gold certificate reserves 12,544 690 3,155 745 943 1,115 703 2,146 489 220 437 556 1,345 F. R. notes of other Banks 582 58 177 38 34 46 50 30 24 25 23 21 56 Other cash 333 12 38 8 50 19 4i 58 32 7 17 15 36 Discounts and advances 255 37 7 * 22 1 65 5 2 17 3 15 81 Acceptances: Bought outright 77 77 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements U. S. Government securities: Bought outright— Bills 13,976 735 3,518 711 1,094 1,020 730 2,339 492 269 550 562 1,956 Certificates Notes 26,090 1,373 6,568 1,326 2,o4i 1,904 1,363 4,367 919 502 .,026 1,050 3,651 Bonds 6,538 344 1,646 332 511 477 342 1,095 230 125 257 264 915 Total 46,6o4 2,452 11,732 2,369 3,646 3,401 2/E3F" 7,801 i,64i 896 1,833 1,876 6,522 Held under repurchase agreements Total U. S. Government securities 46,604 2,452 11,732 2,369 3,646 3,401 2,435 7>801 l,6ki 896 1,833 1,876 6,522 Total loans and securities 46,936 2,489 11,890 2,376 3,646 3,423 2,436 7,866 1,646 898 1,850 1,879 6,537 Cash items in proces of collection 10,459 638 1,671 595 780 861 887 1,748 518 336 625 562 1,038 Bank premises 110 ^ 10 2 6 6 20 19 9 3 14 9 9 Other assets l/ 1,159 45 472 50 81 54 55 138 33 21 40 49 121 TOTAL ASSETS 72,123 3,935 17,613 3,8l4 5,51*0 5,524 4,192 12,005 2,751 1,510 3,006 3,091 9,l42 / 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 16, 1967 San New Phila Cleve Rich St. Minne Kansas 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 4o,410 2,407 9,386 2,327 3,249 3,702 2,266 7,196 1,480 705 1,534 1,330 4,828 Deposits: Member bank reserves 19,689 788 5,697 832 1,378 900 1,015 2,930 719 451 84l 1,136 3,002 U.S. Treasurer—general account 971 49 157 62 63 89 46 128 75 33 68 70 131 128 6 1/ 35 7 11 7 18 4 3 6 7 16 Foreign 465 2/371 4 1 10 2 1 l 3 1 Other Total deposits 21,253 843 6,260 905 1,453 1,006 1,071 3,078 799 488 918 1,214 3,218 Deferred availability cash items 8,957 612 1,578 505 707 730 764 1,506 420 281 489 465 900 Other liabilities and accrued dividends 246 13 63. 11 19 18 4o 6 10 11 33 TOTAL LIABILITIES 70,866 3,875 17,287 3,748 5,423 5,456 4,ll4 11,820 2,708 1,480 2,951 3~7020 8,979 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 100 5 25 5 9 7 6 17 3 O 4 4 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,123 3,935 17,613 3,81^ 5,540 5,524 4,192 12,005 2,751 1,510 3,006 3,091 9,142 Contingent liability on accept ances purchased for foreign correspondents 13 3/ 73 15 25 15 17 41 10 7 12 16 36 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,495 9,814 2,380 3,486 3,831 2,387 7,436 1 , 5 6 9 7 3 7 1 7 5 9 1 1 7 4 31 5,068 Collateral for F. R. notes: Gold certificate account 450 1,000 503 600 74o 450 1,400 320 127 225 180 735 Eligible paper U. S. Government securities 2,096 9,000 2,000 3,000 3,160 2,050 6,150 1,310 625 l,4oo 1,280 4,600 Total collateral 2,546 10,000 2,503 3,600 3,900 2,500 7,550 1,630 752 1,625 1,460 5,335 J7 After deducting $ 93 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. Less than $500,000. 1/ After deducting $207 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis