H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•iSlSS-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.^.l For immediate release August 2k, 1967 The average of daily figures of total member bank reserves held during the week ended August 23, increased a net of $23 million to $23,769 million. Estimated currency and coin of member banks increased $h million and their reserve balances at the Federal Reserve Banks increased $19 million. Estimated required reserves decreased $80 million; and estimated excess reserves increased $103 million to $W>9 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $*4-22 million, compared with the revised figure of $237 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $100 million in U. S. Government securities bought outright, $110 million in U. S. Government securities held under repurchase agreements,, and $82 million in member bank borrowings, and an increase of $59 million in "other" F. R. accounts (net). The principal offsetting changes were an increase of $2^-7 million in float, and a decrease of $115 million in currency in circulation. Total Reserve Bank credit decreased $5 4 million. As of Wednesday, August 23, 1967, holdings of U. S. Government securities bought outright were $100 million lower than a week earlier, U. S. Government securities held under repurchase agreements were unchanged, and member bank borrowings were $208 million lower. Outright holdings of bills decreased $100 million. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 23, Aug. 16,| Aug. 24, Aug. 23, and related items 1967 1967 | 1966 1967 (In millions of dollars) I Reserve Bank credit: U. S. Government securities- Bought outright--System account 46,504 -100 +4,691 46,504 Held under repurchase agreements -no Federal Agency obligations— ^ Held under repurchase agreements 2 Acceptances— Bought outright 74 - 6 *" 27 71 Held under repurchase agreements Discounts and advances— Member bank borrowings 47 - 82 - 672 47 Other 1 1 Float 1,614 +247 - 927 | 1,320 Total Reserve Bank credit 48,238 - 54 +3,117 j 47,942 Gold stock 13,058 + 1 - 254 13,059 Treasury currency outstanding 6,674 + 18 + 644 6,683 67,970 - 35 +3,507 | 67,684 Currency in circulation 45,020 -115 +2,126 45,026 Treasury cash holdings 1,497 + 11 + 416 1,492 Treasury deposits with P. R. Banks 1,021 + 14 - 35 1,136 Foreign deposits with F. R. Banks 133 + 7 + 7 133 Other deposits with F. R. Banks 442 - 29 + 41 1 437 Other F. R, accounts (net) 257 + 59 - 129 1 221 48,369 - 53 +2,425 48,445 Member bank reserves: With Federal Reserve Banks 19,602 + 19 +1,083 19,239 Currency and coin (estimated) 4,167 + 4 + 232 4,519 Total reserves held 23,769 + 23 +1,315 23,758 Required reserves (estimated) 23,300 - 80 +1,220 23,354 Excess reserves (estimated) 469 +103 + 95 404 On August 23, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,367 million, an increase of $41 million for the week and an increase of $197 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Change since Aug. 23, Aug. 16, Aug. 24, 1967 1967 1966 A S S E TS Gold certificate account 10,707 + 15 - 262 Redemption fund for F. R. notes M48 ^ 4 + 45 Total gold certificate reserves 12,555 + 11 - 217 Cash ( 645) 342 + 9 + 44 Discounts and advances 47 - 208 - 765 Acceptances: Bought outright 71 + 23 Held under repurchase agreements Federal Agency obligations- Held under repurchase agreements U. S. Government securities: Bought outright— Bills 13,876 - 100 +4,022 Certificates -4,366 Notes 26,090 +5,077 Bonds 6,538 + 100 Total bought outright 46,504 - 100 +4,833 Held under repurchase agreements Total U. S. Government securities 46,504 - 1077 +4,833 Total loans and securities 46,622 - 314 +4,091 Cash items in process of collection (1,883) 6,737 -1,501 + 221 Bank premises 111 + 1 + 7 Other assets 1/ 1,203 + 44 + 229 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,528) 67_170 -1,750 +4,375 L I A B I L I T I ES Federal Reserve notes ( 645) 39,673 155 +1,929 Deposits: Member bank reserves 19,239 - 450 +1,521 U. S. Treasurer—general account 1,136 + 165 + 167 Foreign 133 + 5 + 3 Other 2/ 437 - 28 + li Total deposits 20,945 • 308 +1,706 Deferred availability cash items (1,883) 5,417 •1,319 + 646 Other liabilities and accrued dividends 244 2 + 42 TOTAL LIABILITIES (2,528) 66,279 -1,784 +4,323 C A P I T AL A C C O U N T S. Capital paid in 587 + 22 Surplus 570 + 19 Other capital accounts 134 34 + 11 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 31.1% + .IX - 2.0% Contingent liability on acceptances purchased for foreign correspondents 267 - 13 - 11 * 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 23. 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 44 21 1,896 - 84 16 days to 90 days 3 50 13,200 +7,344 91 days to 1 year 15,247 -7,360 Over 1 year to 5 years 14,745 Over 5 years to 10 years 900 Over 10 years 516 Total 47 71 46,504 100 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 23, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco 1 (In millions; of dollars) A S S E TS Gold certificate account 1 10,707 | 572 2,352 628 698 942 605 1,922 387 235 454 366 1,546 Redemption fund for F. R. notes 1 1,848 ; 106 449 97 148 159 98 332 66 32 70 64 227 Total gold certificate reserves ; 12,555 i 678 2,801 725 bkb 1,101 703 2,254 453 267 524 430 1,773 F. R- notes of other Banks 645 ! 66 186 40 37 50 66 34 27 27 30 24 58 Other cash 1 342 13 39 .8 50 20 42 59 32 7 17 16 39 Discounts and advances | 4 7 10 6 1 1 l 1 8 8 3 4 4 -- Acceptances: Bought outright 71 71 field under repurchase agreements Federal Agency obligations-- .Held under repurchase agreements U. S- Government securities: Bought outright— Bills 13,876 730 3,493 706 1,086 1,013 736 2,322 489 267 546 572 1,916 Certificates Notes 26,090 i 1,373 6,568 1,326 2,04l 1,903 1,385 4,367 918 502 1,027 1,077 3,603 Bonds 6,538 j 344 1,646 332 511 478 347 1,095 230 125 257 270 903 Total 46,504 2,447 11,707 2,364 3,638 3,394 2,468 7,784 1,637 894 1,830 1,919 6,422 Held under repurchase agreements Total U. S. Government securities 46,504 2, 447 11,707 2,364 3,638 3,394 2,468 7,784 1,637 894 1,830 1,919 6,422 Total loans and securities 1 46,622 2, 457 11,784 2,365 3,639 3,395 2,469 7,792 1,645 897 1,834 1,923 6,422 Cash items in process of collection 8,620 535 1,435 524 626 690 778 1,475 4lQ 293 553 479 822 Bank premises 111 3 10 2 5 7 20 19 9 3 15 9 9 Other assets l/ 1,203 47 ^83 52 86 55 58 144 34 22 4i 53 128 TOTAL ASSETS 70,098 | 3,799 16,738 3,716 5,289 5,318 4,136 11,777 2,610 1,516 3,0l4 2,934 9,251 i 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 AUGUST 23, 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 40,318 2,402 9,363 2,318 3,242 3,691 2,26l 7,192 1,478 703 1,525 1,327 4,816 Deposits: Member bank reserves 19,239 745 5,217 779 1,276 840 999 3,010 673 453 889 l,o4i 3,317 U.S. Treasurer--general account 1,136 52 168 88 62 105 110 110 79 65 84 83 130 Foreign 133 6 1/ 41 7 11 7 8 18 4 3 5 7 16 Other 437 1 2/364 2 1 8 1 1 l # 2 1 55 Total deposits 20,945 804 5,790 876 1,350 960 1,118 3,139 757 521 980 1,132 3,518 Deferred availbability cash items 7,300 518 1,189 442 563 580 664 1,215 322 257 442 393 715 Other liabilities and accrued dividends 1 244 i 13 61 12 20 18 13 40 9 5 10 10 33 TOTAL LIABILITIES 168,807 ! 3,737 16,403 3,648 5,175 5,249 4,056 11,586 2,566 1,486 2,957 2,862 9,082 CAPITAL ACCOUNTS Capital paid in i 587 28 153 31 52 31 37 85 20 14 26 34 76 Surplus 570 1 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts ! 134 1 7 34 7 11 8 8 2J_ 4 2 6 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,098 3,799 16,738 3,716 5,289 5,318 4,136 11,777 ^,6l0_ 1,516 3,014 2,934 9,251 Contingent liability on accept ances purchased for foreign correspondent s 267 1 13 a/69 14 24 14 17 39 9_ 6_ 12 15 35 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 42,204 2,494 9,821 2,371 3,471 3,823 2,380 7,426 1,568 737 1,596 1,435 5,082 Collateral for F. R. notes: Gold certificate account 6,730 1 450 1,000 503 600 740 450 1,400 320 127 225 180 735 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 4-3,401 2,546 10,000 2,503 3,600 3,900 2,500 7,550 1,630 752 1,625 1,460 5,335 1/ After deducting million participations of other Federal Reserve Banks. 2J Includes IMF gold deposit. Less than $500,000. V After deducting $ 198 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis