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 x.h.l For immediate release September ik, 1967 The average of daily figures of total member hank reserves held during the week ended September 13, increased a net of $52 million to $23,996 million. Estimated currency and coin of member banks increased $l8l million and their reserve balances at the Federal Reserve Banks decreased $129 million* Estimated required reserves increased $73 million; and estimated excess reserves decreased $21 million to $3^5 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $275 million, compared with the revised figure of $287 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $^-59 million in U. S. Government securities bought outright, $87 million in U. S. Government securities held under repurchase agreements, and an increase of $268 million in currency in circulation. The.principal offsetting changes were an increase of $127 million in Federal Reserve float, and a decrease of $^95 million in Treasury deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $37^ million. As of Wednesday, September 13, 1967, holdings of U. S. Government securities bought outright were $722 million lower than a week earlier, U. S. Government securi ties held under repurchase agreements were $^25 million lower, and member bank borrowings were $101 million lower. '<•>«-__. Average of daily figures o Member bank reserves, ofmt^" Or WEGON week ended " Change from week ended! Wednesday, Reserve Bank credit, crp) 1 - Sept. 13, Sept. 6, I Sept. lh\ Sept. 13, 31 357 and related items 1967 1967 I 1Q66 ;- 1967. (In millions of dollars) Reserve Bank credit: LIBRARY U. S. Government securities-- Bought outright—System account 46,i4i -1)59 +3,246 4-5,885 ,Held under repurchase agreements --. - 87 - 4i Special Certificates 66 + 66 + 66 Federal Agency obligations-- Held under repurchase agreements Acceptances— Bought outright 59 12 58 Held under repurchase agreements Discounts and advances-- Member bank borrowings 70 - 9 - 818 1 38 Other 5 Float 1,537 +127 - 377 1,522 Total Reserve Bank credit 47,873 -374 +2,082 47,503 Gold stock 13,007 - 1 - 251 13,009 Treasury currency outstanding 6,726 + 11 + 657 6,730 67,606 :"364~ +2,487 67,242 Currency in circulation 45,398 +268 +2,170 45,44i Treasury cash holdings 1,483 - 14 + 412 1,485 Treasury deposits with F. R. Banks 202 -495 - 633 276 Foreign deposits with F. R. Banks 126 - 7 + 1 124 Other deposits with F* R. Banks 491 + 20 + 82 493 Other F. R, accounts (net) 103 - 7 - 131 i 11 47,804 ^2^k- +1,903 ; 47,830 Member bank reserves: With Federal Reserve Banks 19,803 -129 + 585 19,412 Currency and coin (estimated) 4,193 +181 + 180 4,750 Total reserves held 23,996 + 52 + 765 24,162 Required reserves (estimated) 23,651 + 73 + 924 23,739 Excess reserves (estimated) 345 - 21 - 159 1 423 On September 13, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,^03 million, a decrease of $124 million for the week and an increase of $2l6 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) iC hange since Sept* 13, Sep ' t. 6., Sept. 14, 1967 1967' 1966 A S S E TS — •' ' """ '""J 'Mill'I'. Gold certificate account 10,644 14 • 329 Redemption fund for F. R. notes +_ 10 + 60 Total gold certificate reserves 12,509 4 - 269 Cash (IJJ) 344 + 8 + 39 Discounts and advances 33 101 - 200 Acceptances: Bought outright 58 4 + 10 Held under repurchase agreements Federal Agency obligations-^ H&ld under repurchase agreements 29 IL S. Government securities: Bought outright- Bills 13,205 * 722 +2,399 Certificates -- " •4,361$ Notes 26,125 -- +5,112 Bonds 6.555 ^ + 117 Total bought outright 45,885 - 722 +3,262 Held under repurchase agreements -- - ^-25 Total U, S, Government securities 45,8$5 -1.147 Total loans and securities 45,981 -1,281 Cash items in process of collection (1,969) 7,894 +1,301 Bank premises 109 « 1 Other assets 1/ l*jl2 - J8 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,592) 68.209 +" 5 L I A B I L I T I ES Federal lesiervi node's ~ ~ (623) ^0,040 + 9 +2,009 Deposits: Member bank reserves 19,412 -1,371 + 800 U. S. Treasurer-*general account 276 + 165 - 299 Foreign 124 40 5 Other 2/ 493 + 36 + 86 Total deposits 20,305 -1,210 +" 582 Deferred availability cash items (1,969) 6,372 +1,347 + 330 Other liabilities and accrued dividends 251 JL_Jk§ +__22 TOTAL LIABILITIES (2,592) 66,986 + 130 +2,943 £ A L I 1 £L A C C O U N TS + 23 Capital paid in 588 + 19 Surplus 570 + 1 Other capital accounts 83 125 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 30.8% 2.17. Contingent liability on acceptances purchased for foreign correspondents 229 - 14 „ 46 * 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. September 13, 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 DDiissccoouunnttss aanndd Federal Agency <o bligations aaddvvaannccee> ss AAccec:e eppttaanncceess Holdings Wia ekly changes Within 15 days 36 17 1,494 16 days to 90 dayg 2 41 13,188 - 371 91 days to 1 year -«. -- 14,990 - 250 Over 1 year to 5 years -- -.- 14,783 — Over 5 "years to 10 yearss -- 910 — Over 10 years -« • «, 520 -- Total 38 58 45,885 -1,176 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(t,) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BMK ON SEPTEMBER 13, 1967 "• " y "" San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlant a Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 10,6kk 630 2,608 558 872 1,018 517 1,995 379 173 334 3^6 1,214 Redemption fund for F. R. notes 1,865 106 457 97 l48 160 103 332 66 32__ 73 65 226 Total gold certificate reserves 12,509 736 3,065 655 1,020 1,178 620 2,327 445 205" 407 4n 1,440 F. R. notes of other Banks 623 64 182 37 34 45 66 33 28 20 33 20 61 Other cash 3M- 15 38 7 47 21 k2 61 34 6 17 16 40 Discounts and advances 38 2 6 2 1 2 2 7 9 * 4 3 -- Acceptances: Bought outright 58 -- 58 -- -- -- -- -- -- Held under repurchase agreementc -- -- Federal Agency obligations - Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills 13,205 684 3,333 677 998 950 718 2,179 h6k 266 519 556 1,861 Certificates Notes 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 34o 1,651* 335 495 472 357 1,082 230 132 258 276 924 Total "^57885 2,578 ll,55o 2,350 3,"W 3730I• ""27l).97 "" "77573" 17611" 924 1,804 1,930 6, if 68 Held under repurchase agreements — -- -- -- -- -- -- -- — -- -- Total U, S. Government securities 45,885 2,378 11,580 2,350 3, ^69 3,301_ 2_,_49_7_ 7,573 1,611 924 1,804 1,930 6,468 Total loans and securities Jf-5,981 2,380 11,6kk 2,352 3,470 3,303 2,499 7,580 1,620 924 1,808 1,933 6,468 Cash items in process of collection 9,863 617 1,722 602 721 791 896 1,582 499 324 623 542 944 Bank premises 109 3 10 2 k 6 20 19 9 3 15 9 9 Other assets l/ 1,372 55 526 62 99 68 67 170 40 25 48 60 152 TOTAL ASSETS 70,801 3,870 17,187 3,717 5,395 5,412 4,210 11,772 2,675 1,507 2,951 2,991 9, n4 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 SEPTEMBER 13, 1967 San New Phila Cleve Rich St. Minne Kans as 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 40,663 2,413 9,444 2,317 3,269 3,706 2,282 7,239 1,492 702 1,538 1,350 4,911 Deposits: Member bank reserves 19,412 783 5,359 778 1,331 929 1,044 2,960 713 484 833 1,106 3,092 U.S. Treasurer—general account 276 •A. 269 1 * -«'c * 1 Vc 1 1 1 2 Foreign 124 6 35 6 11 6 7 18 4 3 5 7 16 Other 493 1 391 6 1 1? 2 2 4 * 7 1 71 Total deposit^ 20,305 790 6,054 791 1,343 947 1,053 2,981 721 488 841 1,115 3,181 Deferred availability cash items 8,341 595 1,303 532 654 675 784 1,329 410 282 508 444 825 Other liabilities and accrt led dividends 251 13 63 11 19 18 14 41 9 6 10 11 36 TOTAL LIABILITIES 69,560 3,811 16,864 3,651 5,285 5,346 4,133 11,590 2,632 1,478 2,897 2,920 8,953 CAPITAL ACCOUNTS Capital paid in 588 28 153 31 53 31 37 85 20 14 26 34 76 .- liar plus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 83 4 22 5 6 5 5 14 3 1 3 4 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,801 3,870 17,187 3,717 5,395 5,412 4,210 11,772 2,675 1,507 2,951 2,991 9,114 Contingent liability on ace. eptances purchased for forei -gn correspondents 229 11 59 12 21 12 14 33 8 6 10 13 30 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 42,498 2,510 9,911 2,377 3,482 3,841 2,400 7,493 1,580 730 1,603 1,445 5,126 Collateral for F. R. notes: Gold certificate account 6,727 450 1,000 503 600 740 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securiti .es 37,021 2,096 9,000 2,000 3,000 3,160 2,050 6,450 1,310 625 1,400 1.330 4.600 Total collateral 43,748 2,546 10,000 2,503 3,6 00 3,900 2,500 7,850 1,627 752 1,625 1,510 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 $ 170 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis