H.4.1 Factors Affecting Reserve Balances of Depository Institutions

;otcovA* 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 September 7, 1967 The average of daily figures of total member bank reserves held during the week ended September 6, increased a net of $i*90 million to $23,95^- million- Estimated currency and coin of member banks decreased $291 million and their reserve balances at the Federal Reserve Banks increased $781 million. Estimated required reserves increased $364 million; and estimated excess reserves increased $126 million to $367 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $288 million, compared with the revised figure of $195 million the week before• The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $351 million in U. S. Government securities bought outright, $120 million in Federal Reserve float, and a decrease of $379 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $212 million in currency in circulation- Total Reserve Bank credit increased $596 million. As of Wednesday, September 6, 1967, holdings of U. S. Government securities bought outright were $^38 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $^25 million higher, and member bank borrowings were $79 million higher. Outright holdings of bills, notes, and bonds increased $386 million, $35 million, and $17 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week ended| Wedne sday, Reserve Bank credit, Sept. 6, Aug. 30, Sept, 7, I Sept, 6, and related items 1967 1967 1966 1967 'in millions of dollars; Reserve Bank credit: U. S. Government securities-- Bought outright--System account 46,600 +351 +3,623 1 46,607 Held under repurchase agreements 87 + 87 + 87 ; 425 Federal Agency obligations-- Held under repurchase agreements 6 f 6 6 | 29 Acceptances-- Bought outright 65 - 2 16 j 62 Held under repurchase agreements 1 Discounts and advances-- Member bank borrowings 79 + 33 - 670 1 139 Other 2 Float 1, 4io +120 — 3^4 j 1,568 Total Reserve Bank credit 48,247 +596 +2 ,716 | 48,830 Gold stock 13,008 - 36 - 250 i 13,009 Treasury currency outstanding 6,715 + 22 + 665 6,717 67,970 +582" +3 ,131 , 58755S Currency in circulation 45,130 +212 +2 ,148 45,412 Treasury cash holdings 1,497 + 2 + 434 i 1,496 Treasury deposits with F. R. Banks 697 -379 - 291 1 ill Foreign deposits with F. R. Banks 133 + 12 + 6 j 164 Other deposits with F. R. Banks J47I + 28 + 61 ! 457 Other F. R. accounts (net) 110 - 73 - 176 I 133 ^67038 -198 +2 ,181 47,773 Member bank reserves: With Federal Reserve Banks 19,932 +781 + 951 20,783 Currency and coin (estimated) 4, 022 -291 + 334 4,281 Total reserves held 23,954 +490 +1 ,285 25,664 Required reserves (estimated) 23,587 +364 +1 ,255 23,551 Excess reserves (estimated) 367 +126 + 30 ! 1,513 On September 6, 1967^ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account weir e $7,527 million, an increase of $100 million for the week and an increase of $3^1 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.l(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Sept. 6 Aug. 30 Sejat. 7 1967 1967 1966, A S S E TS Gold certificate account 10,658 + 5 - 326 Redemption fund for F. R. notes 1,855 + 9 + 57 Total gold certificate reserves 12,513 "14" - 269 Cash (614) 336 + l + 37 Discounts and advances 139 + 79 - 542 Acceptances: Bought outright 62 14 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements 29 29 29 U. S. Government securities: Bought outright — Bills 13,927 386 +2,753 Certificates (other) -4,366 Notes 26,125 + 35 +5,112 Bonds 6,555 + 17 + 117 Total bought outright 46,607 + 438 +3,616 Held under repurchase agreements 425 + 425 + 425 Total U. S. Government securities 47,032 863 +4,041 Total loans and securities 47,262 968 +3,542 Cash items in process of collection (1,695) 6,593 24 + 250 Bank premises 110 + 6 Other assets 1/ 1,390 40 + 230 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,309) 68,204 +1,047 +3,796 L I A B I L I T I ES Federal Reserve notes (6l4) 40,031 + 348 +1,926 Deposits: Member bank reserves 20,783 +2,130 +2,231 U. S. Treasurer--general account 111 -1,217 - 916 Pore ign 164 + 48 + 22 Other 2/ (2) 457 + 5 + 60 Total deposits (2) 21,515 + 96T +1,397 Deferred availability cash items (1,693) 5,025 - 332 + 383 Other liabilities and accrued dividends 267 + 28 + 32 TOTAL LIABILITIES (2,309) 567B38" +1,010 +3,738 C A P I T AL A C C O U N TS Capital paid~*in 588 + 23 Surplus 570 + 19 Other capital accounts 208 37 + 16 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 30.8$ .2$ - 2.0$ Contingent liability on acceptances purchased for foreign correspondents 243 10 - 33 * Figures in parentheses are the eliminations made in the consolidating process. l/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. ,____ MATURITY DISTRIBUTION OF LOAHS AND SECURITIES, SEPTEMBER 6, 1967 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Federal Agency obligations advances Acceptances Holdings 1W eekly changes Within 15 days 137 20 2,049 +384 16 days to 90 days 2 k2 13,559 +383 91 days to 1 year — -- 15,240 + 73 Over 1 year to 5 years — — 14,783 + 38 Over 5 years to 10 years __. 910 + 10 Over 10 years — -— 520 + 4 Total 139 62 47,061 +892 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(1>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 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 i 10,658 597 2,187 596 804 949 516 2,073 338 165 422 359 1,652 Redemption fund for F. R. notes i 1,855 106 448 97 148 164 98 332 66 32 73 65 226 Total gold, certificate reserves ! 12,513 703 2,635 693 952 l,H3 614 2,405 4o4 197 495 424- 1,878 F. R. notes of other Banks ! 61k 68 166 39 35 50 68 32 28 26 30 20 52 Other cash ! 336 14 34 8 4.9 20 42 60 33 6 16 15 39 Discounts and advances ; 139 — 10 1 -- * 4- 104 8 l 7 4 — Acceptances: 62 62 Bought outright — — *" *"* "* "*" "™ "" "* "* — — ~" — — — — — — — - — Held under repurchase agreements 1 "" *" *~ ~ — "* — — — — — — — — — "• - — — — -- -- — Federal Agency obligations-- Held under repurhcase agreements 1 29 29 U. S. Government securities: Bought outright-- Bills ! 13,927 722 3,515 7l4 1,053 1,002 757 2,299 489 280 547 586 1,963 Certificates ' -- " -- -- -- -- -- -- -- -- -- -- Notes 1 26,125 1,354 6,593 1,338 1,976 1,879 1, 422 4,312 917 526 1,027 1,098 3,683 Bonds ! 6,555 340 1,654 335 495 472 357 1,082 230 132 258 276 924 Total 557507 2/4T6" 11,762 2,387 3,524 3,353 2,536 7,693 1,636 938 1,832 1,960 6,570 Held under repurchase agreements 425 -- 425 — -- -- -- -- — — -- -- -- Total U. S. Government securities 47, 032 2,416 12,187 2,387 3,524 3,353 2,536 7,693 1,636 938 1,832 1,960 6,570 Total loans and securities 47,262 2,416 12,288 2,388 3,524 3,353 2, 540 7,797 1,644 939 1,839 1,964 6,570 Cash items in process of collection 8,288 485 1,542 514 576 684- 706 1,367 406 262 535 445 766 Bank premises 110 3 10 2 5 6 20 19 9 3 15 9 9 Other assets l/ 1,390, 62 530 62 100 68 69 171 40 25 49 61 153 TOTAL ASSETS 70,513! 3,751 17,205 3,706 5,241 5,294 4,059 11,851 2,564 1,^58 2,979 2,938 9,467 ———— . __ - , 1 ', L .— 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.^l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 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) L I A B I L I T I ES i j Federal Reserve notes 1 MMi 2, 409 9,442 2, 319 3,251 3 ,726 2,282 7,232 1,491 701 1, 539 1,341 4,912 Deposits: 1 Member hank reserves 736 5,675 861 1,320 932 1,082 3,208 692 509 948 1,164 3,656 U. S. Treasurer--general account 20,783i 1 103 1 1 * * 1 1 1 2 Foreign 1 16 m 4 l i 7 60 7 13 7 9 20 5 4 6 8 18 Other 380 1 12 1 3 1 2 1 58 Total deposits j 21, 4 5 5 1 9 7 j i 744 6,218 870 1,334 951 1,092 3,231 699 513 957 1,174 3,734 Deferred availability cash items 1 6,718 1 518 1,115 433 517 523 587 1,143 318 208 413 337 606 Other liabilities and accrued 267 ; 14 75 12 19 19 1.4 42 9 5 11 11 36 dividends TOTAL LIABILITIES 1 69,147 |3 ,685 16,850 3 ,634 5,121 5 ,219 3,975 11,648 2,517 1,427 2, 920 2,863 9,288 CAPITAL ACCOUNTS Capital paid in 588 28 153 31 53 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 208J 11 54 11 16 14 12 35 7 3 8 8 29 TOTAL LIABILITIES AND 70,513 ! 3,751 17,205 3,706 5,241 5,294 4,059 11,851 2,564 1,458 2,979 2,938 9,467 CAPITAL ACCOUNTS i Contingent liability on accept h -•'•• ' — ' • • ances purchased for foreign c orre spondent s 243 12 62 13 22 13 15 35 8 6 11 14 32 FEDERAL RES ERVE AGENT'S ACCOUNTS F. R. notes outstanding 42,299 2,493 9,913 2,372 3,468 3,817 2,376 7,431 1,569 733 1,602 1,431 5,094 Collateral for F. R. notes: Gold certificate account 6,730 450 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 43,401 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 %Q4 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. 3/ After deducting $1-81 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis