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 r?fSrlS?--' u C ~ ondition Statement of F.R. Banks HA.I For immediate release September 21, 1967 The average of daily figures of total member bank reserves held during the week ended September 20, increased $296 million to $2^322 million. Estimated currency and coin of member banks increased $107 million and their reserve balances at the Federal Reserve Banks increased $189 million. Estimated required reserves increased $2to million; and estimated excess reserves increased $56 million to $442 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $336 million, compared with the revised figure of $3l6 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $188 million in Federal Reserve float, and $36 million in member bank borrowings, and decreases of $175 million in currency in circulation, and $79 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $86 million in U. S* Government securities bought outright, and an increase of $160 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $69 million. As of Wednesday, September 20, 1967, holdings of U. S. Government securi ties bought outright were $170 million higher than a week earlier, and member bank borrowings were $282 million higher. Average of daily figures Member bank reserves, Week eni-le^T'"" Change from week ended Wednesday, Reserve Bank credit, Sept. 20, Sept. 13, Sept. 21, Sept. 20, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 46,055 - 86 +3,530 46,055 Held under repurchase agreements Special Certificates — - 66 — — Federal Agency obligations-- Held under repurchase agreements Acceptances-- Bought outright 56 - 3 7 54 Held under repurchase agreements Discounts and advances- Member bank borrowings 106 + 36 - 665 320 Other -- -- 11 — Float 1,732 +188 - 753 1,611 Total Reserve Bank credit 47,949 + 69 +2,108 48,040 Gold stock 13,007 -- - 250 13,009 Treasury currency outstanding 6,739, + 13 + 665 6,739 S7TS95 + 82 +2,523 67,788 Currency in circulation 45,223 -175 +2,223 45,191 Treasury cash holdings l,l£7 + k + 403 1,498 Treasury deposits with F. R. Banks 362 +160 - 260 ! 713 Foreign deposits with F. R. Banks 126 -~ 2 j 125 Other deposits with F. R. Banks 473 - 18 + 70 459 Other F. R. accounts (net) 2k - 79 - l44 26 Member bank reserves: 47,695 " -1C9 +2,290 j 48,012 With Federal Reserve Banks 19,999 +189 + 232 19,775 Currency and coin (estimated) 4,323 +107 + 339 4,746 Total reserves held 2k,322 +296 + 571 24,521 Required reserves (estimated) 23,880 +240 + 721 ! 24,093 Excess reserves (estimated) kk2 + 56 - 150 ! 428 On September 20, 1967, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,552 million, an increase of $1^9 million for the week and an increase of $M»8 million from hhe 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) Change since Sept. 20, Sept. 13, Sept. 21, 1967 1967 1966 A S S E TS Gold certificate account 10,643 1 - 331 Redemption fund for F. R. notes l,86l 4 + 62 Total gold certificate reserves 12,504 5 - 269 j Cash (706)) 35^ + 10 + 41 Discounts and advances 320 + 282 - 587 Acceptances: Bought outright 54 4 6 Held under repurchase agreements Federal Agency obligations-- Held under repurchase agreements U. S. Government securities: Bought outright-- Bills 13,375 L 170 +2,789 Certificates - Other — -- -4,366 Notes 26,125 — +5A12 Bonds 6,555 " + i:L7 Total bought outright 4466,,, 005555 ++ 117700 +3,652 Held under repurchase agreements " Total U. S. Government securities 4466,,005555 ++ 117700 +3, Total loans and securities 14+66,,442299 ++ 4^488 +3,°71 Cash items in process of collection ((22,/3^0011)) 88,,443322 4 + 535388 - 274 Bank premises 110099 •*- + 5 Other assets 1/ 11,,339922 ++ 2200 + 250 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS ((33,,000077)) 6£9$,^222200 ++ 11, ,001111 +2,82^ k 1 L * I k 1 11 1L ! Federal Reserve notes (706) 39,800 240 +1,998 Deposits: Member bank reserves 19,775 + 363 + 680 U. S. Treasurer--general account 713 + +37 - 366 Foreign 125 + 1 + 10 Other 2/ 459 3+ + 59 Total deposits 21,072 -f 767 + 383 Deferred availability cash items (2,301) 6,821 + 449 + 371 Other liabilities and accrued dividends 247 4 + 24 T0T/L LIABILITIES (3,007) 67,940 + 972 +2,776" £ _ £ I 1 A L A C C O U N T S. Capital paid in 587 1 21 Surplus 570 19 Other capital accounts 123 4o 8 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 30.9^0 *VJo - 2.1^ Contingent liability on acceptances purchased for foreign correspondents 220 9 - 37 * 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 20, 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 Di£? counts and Federal Agency obligations advances Acceptances Hold ings Weekl Ly changes Within 15 days 318 12 2 ,019 + 525 16 days to 90 d;a ys 2 42 12., 885 _ 303 91 days to 1 ye;i r -- _- 14., 938 - 52 Over 1 year to \ •> years -- --. 14 ,827 + 44 Over 5 years to 10 years --. _-. 866 44 w Over 10 years -.« -„ 520 -- Tota l 320 54 46 ;, 055 + 170 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 SEPTEMBER 20, 1967 )'•• - — San New j Phila- Cleve j Rich St. Minne Kansas Total Boston Atlanta Chicago Eallas Fran York 1delphia land mond Louis apolis City 1 cisco (In 1m illions of dolls. rs) A S S E TS Gold certificate account 10,61»3 639 2, 464 574 899 936 565 1,897 391 201 399 401 1,277 Redemption fund for F. R. notes 1,861 105 457 96 148 158 103 331 66 32 73 66 226 Total gold certificate reserves 12,504 744 2,921 670 1,047 1,094 668 2,228 457 233 472 467 1,503 F. R. notes of other Banks 706 74 198 48 41 51 69 40 31 21 31 26 76 Other cash 35^ 16 4i 7 48 22 44 61 33 6 17 17 42 Discounts and advances 320 56 — 40 27 2 74 7 * 37 3 73 Acceptances: Bought outright 5^ -- 54 -- -- -- -- -- -- -- -- --. Held under repurchase agreements -- - -- -- — -- -*. -- Federal Agency obligations-- Held under repurchase agreements -- U. S. Government securities: Bought outright — Bills 13,375 715 3A03 686 1,011 962 728 2,250 470 269 519 563 1,799 Certificates -- _- -. -- -- -- — -- — Notes 26,125 1 ,397 6,648 1,338 1,976 1,879 1, 421 4,394 917 526 1,013 1,101 3,515 Bonds 6,555 350 1,668 311.. _ !#_£_ 472 357 .1*103 - 230 132 __ 255_ 276 882 Total 46,055 2 ,462 11,719 2,359 3,482 3,313 2 ,506 7,747 1,617 927 1,787 i,94o 6,196 Held under repurchase agreements — _ — _ — — «• — — — -- _- Total U. S. Government securities 46,055 2 ,462 U,719 . 2,359... 3.*l82 3,313 2 i5C6 _ 7.747 1.617 . 927. JUZ8.7_ 1.940 .._..6,.196 Total loans and securities 46,429 2., 518 11,773 2,360 3,522 3,340 2,, 5C8 7,821 1,624 927 1,824 1,943 6,269 Cash items in process of collection 10,733 660 1,874 686 765 947 919 1,779 530 342 697 538 996 Bank premises 109 2 10 2 5 7 20 19 8 3 15 9 9 Other assets l/ 1,392 57 531 63 101 70 68 174 4i 26 48 62 151 TOTAL ASSETS 72,227 ^ 071 17,348 3,836 5,529 5,531 ^ 296 12,122 2,724 1,558 3,104 3,062 9,046 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 SEPTEMBER 20, 1967 San New Phila Cleve Rich St. Minne Kans as Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserves notes 40,506 2,408 9,427 2,310 3,261 3,693 2,269 7,217 1,488 698 1,527 1,344 4,864 Deposits: Member bank reserves 19,775 895 5,518 798 1,383 924 1,046 3,129 684 485 893 1,124 2,896 U. S. Treasurer--general account 713 40 85 34 44 83 57 61 67 35 49 58 100 Foreign 125 6 36 6 11 6 8 17 4 3 5 7 16 Other 459 1 380 1 * 9 2 2 1 1 1 1 60 Total deposits 21,072 | 942 6,019 839 1,438 1,022 1,113 3,209 756 524 948 1,190 3,072 Deferred availability cash items 9,122 647 1,506 607 699 7 29 821 1,466 427 301 563 445 911 Other liabilities and accrued dividends 247! 13 63 12 18 18 14 42 9 5 10 11 32 TOTAL LIABILITIES 70,947 4,010 17,015 3,768 5,416 5,462 4,217 11,934 2,680 1 ,528 3,048 2,990 8,879 CAPITAL ACCOUNTS Capital paid in 587 28 153 31 53 31 37 85 20 14 26 34 75 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 123 6 32 7 9 8 7 20 4 2 5 5 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 72,227 4,071 17,348 3,836 5,529 5,531 4,296 12,122 2,724 1 ,558 3,104 3 062_ 9,046 ; Contingent liability on accept ances purchased for foreign correspondents 220 10 57 11 20 11 14 32 8 5 10 13 29 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,497 9,899 2,377 3,485 3,829 2,385 7,470 1,573 729 1,600 1,455 5,143 Collateral for F. R. notes: Gold certificates account 450 1,000 503 600 740 450 1,400 317 127 225 180 735 Eligible paper U. S. Government securities 2,096 9,000 2,000 3,000 3,160 2,050 6,450 1,370 625 1,400 1,330 4,600 Total collateral 2,546 10,000 2,503 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 JL/ After deducting $89 million participations of other Federal Reserve Banks. 2.1 Includes IMF gold deposit. Less than $500,000. 3/ After deducting $163 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis