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 H.4.1 For immediate release September 28, 1967 The average of daily figures of total member bank reserves held during the week ended September 27, decreased a net of $97 million to $2^,210 million. Estimated currency and coin of member banks increased $93 million and their reserve balances at the Federal Reserve Banks decreased $190 million. Estimated required reserves increased $58 million; and estimated excess reserves decreased $155 million to $259 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $185 million, compared with the revised figure of $308 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $258 million in Federal Reserve float, and an increase of $565 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes was an increase of $397 million in U. S. Government securities bought outright, and a decrease of $179 million in currency in circulation. Total Reserve Bank credit increased $188 million. As of Wednesday, September 27, 1967, holdings of U. S. Government securities bought outright were $647 million higher than a week earlier, and member bank borrowings were $l49 million lower. Outright holdings of bills, notes, and bonds increased $572 million, $35 million, and $1*0 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 27, Sept. 20, Sept. 28, Sept. 27, and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account ^6,452 +397 +3,959 46,702 Held under repurchase agreements Federal Agency obligations— Held under repurchase agreements Acceptances- Bought outright 51 - 5 + 4 5* Held under repurchase agreements 86 + 86 + 86 106 Discounts and advances- Member bank borrowings 7h - 32 - 576 171 Other 12 Float 1,^96 -258 - 701 1,235 Total Reserve Bank credit 48,159 +2,760 Gold stock 13,006 - 251 13,009 Treasury currency outstanding 6,759 + 673 6,760 67,924 +3,182 68,037 Currency in circulation h 5, o44 +2,240 ^5,109 Treasury cash holdings 1,502 + 410 1,523 Treasury deposits with F. R. Banks 927 - 105 711 Foreign deposits with F. R. Banks 129 9 159 Other deposits with F. R. Banks + 53 450 Other F. R. accounts (net) 37 - 181 in Member bank reserves: 48,093 +2,407 47,999 With Federal Reserve Banks 19,831 + 775 20,039 Currency and coin (estimated) 4,379 + 302 M55 Total reserves held 24,210 +1,077 2ij,894 Required reserves (estimated) 23,951 + 885 2k,085 Excess reserves (estimated) + 192 809 259 On September 27, 1967, U. S Government securities held in custody by the Federal Reserve Banks for foreign aceo unt were $7,570 million, an increase of $18 million for the week and an increase of $473 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h. 1(a) CONSOLIDATED STATEMENT OF CONDITION CF AIL FEDERAL RESERVE BANKS (In millions of dollars) Change since Sept. 27, Sept." 20^Sep€. 28, J££Z- is£6- - 19^7 A S S E TS Gold certificate account 10,6^3 - 325 Redemption fund for F. R. notes l,86o + 36 Total gold certificate reserves 12,503 l - 289 Cash ( 731) 353 l + 33 Discounts and advances 171 1^9 - 820 Acceptances: + 6 Bought outright Held under repurchase agreements 106 106 * 106 Federal Agency obligations-- Held under repurchase agreements U« S. Government securities Bought outright — Bills 13,947 572 +3,727 -4,366 Certificates - Other Notes 26,160 + 35 +5,147 Bonds 6,595 + 40 + 157 Total bought outright 46,702 +4,665 Held under repurchase agreements Total U. s» Government securities 46,702 + 647 +4,665 Total loans and securities 47,033 + 6o4" +3,957 Cash items in process of collection (l,9ll) 7,075 -1,357 + 258 Bank premises 110 + L + 6 Other assets l/ 1,420 + 28 + 231 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,642) 68,494 726 +4,196 L I A B I L I T I ES Federal Reserve notes ( 731) 39,718 82 +2,022 Deposits: Member bank reserves 20,039 264 +1,969 U. S. Treasurer--general account.: 711 2 - 602 Foreign 159 3^ 46 Other 2/ 450 9 + Total deposits 21,359 287 +1,413 Deferred availability cash items (1,911) 5,840 981 + 670 Other liabilities and accrued dividends 261 14 + 41 TOTAL LIABILITIES (2,642) 67,178 762 +4,146 C A P I T AL A C C O U N TS Capital paid in 589 23 Surplus 570 19 Other capital accounts 157 34 8 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 30.97° ~ 2.270 Contingent liability on acceptances purchased for foreign correspondents 214 - 6 34 * 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 27, 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 168 117 1,505 16 days to 90 days 3 43 13,733 +848 91 days to 1 year — -- 15,195 +257 Over 1 year to 5 years — __ 14,865 + 3B Over j years to 10 year•ss — 873 + 7 Over 10 years — — __5_3i + 11 TOTAL 171 160 46,702 +647 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.i(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 1967 H San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco jl _ _. . , (In millions of dollars) A S S E TS Gold certificate account i 10,6^3i 757 2,451 605 985 997 503 1,713 341 206 436 367 1,282 Redemption fund for F. R. notes 1,860 i 105 14 57 97 148 157 103 331 66 32 73 66 225 Total gold certificate reserves 1 12,503 862 2,908 702 1,133 1,154 606 2,044 407 238 509 ^33 1,507 F- R- notes of other Banks 731 78 210 43 45 48 73 44 33 21 25 25 86 Other cash 353 16 40 8 48 21 44 62 34 5 16 16 43 Discounts and advances 171 4 30 4 -- 10 4 17 12 1 5 l 83 Acceptances: Bought outright ! 5^ -- 54 — -- -- -- -- -- -- -- -- -- Held under repurchase agreements 106 -- 106 — -- -- " -- -- Federal Agency obligations — Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills ! 13,9^7 691 3,530 714 1,059 1,003 759 2,397 501 281 541 587 1,884 Certificates ! -- -- -- -- — -- -- " -- -- -- -- Notes ! 26,160 1,297 6,622 1,340 1,987 1,882 1 ,423 4,495 938 526 1,015 1,102 3,533 Bonds ! 6,595 327 1,670 338 500 474 359 1,133 236 133 256 278 891 Total ^6,702 2,315 11,822 2,392 3,546 3,359 2 ,54i 8,025 1,675 9W 1,812 1,967 6,305 Held under repurchase agreements __ -~ -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 46,702 2,315 11,822 2,392 3,5^6 3,359 2 >54l 8,025 1,675 94o___ 1,812_ 6,308 Total loans and securities 47,033 2,319 12,012 2,396 3,5^6 3,369 2., 545 8,042 1,687 94i 1,817 1,968 6,391 Cash items in process of collection 8,986 586 1,522 544 656 726 785 1,507 it 37 304 595 k9k 830 Bank premises 110 3 10 2 5 6 20 19 9 3 15 9 9 Other assets l/ , 1,420 57 539 63 103 72__ _2°_ 180 4i 2J__ 50__ 63_. 15J TOTAL ASSETS 71,136, 3,921 17,24l 3,758 5,536 5,396 4. ,1 43 11,898 2,648 1,539 3,027 3,008 9,021 1/ Includes assets denominated in foreign currencies and IMF gold deposited Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 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 40,449 2,404 9,409 2,304 3,255 3,705 2,261 7,199 1,485 695 1,522 1,344 4,866 Deposits: Member bank reserves 20,039 814 5,615 846 1,477 922 1,019 3,077 707 510 857 1,118 3,077 U.S. Treasurer — general ti ccount 711 40 82 56 59 52 56 82 44 33 96 43 68 Foreign 159 \ 6 71 6 11 6 7 17 4 3 5 7 16 Other 450 *4\ 383 1 9 2 1 1 2 1 50 Total deposits | 21,359 860 6,151 909 1,547 989 1,084 3,177 755 547 960 1,169 3,211 Deferred availability cash items 7,751 581 1,272 462 598 612 703 1,284 354 261 477 410 737 Other liabilities and accrt.le d dividends | 261 13 67 14 21 18 14 43 9 5 11 11 35 TOTAL LIABILITIES 69,820 i 3,858 16,899 3,689 5,421 5,324 4,062 11,703 2,603 1,508 2,970 2,934 8,849 CAPITAL ACCOUNTS Capital paid in 589 ! 28 153 31 53 31 37 86 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 157 8 41 8 11 11 9 26 5_ 3_ 6 7 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 71,136 3,921 17.241 3.758 5.536 5.396 4.143 11.898 2.648 1,539 3.027 3.008 .9,021 Contingent liability on ace: eptances purchased for forei• gn correspondents 214 10 55 11 19 IX 13 31 8 5 10 13 28 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 42,394 2,510 9,906 2,368 3,478 3,842 2,376 7,446 1,569 726 1,592 1,447 5,134 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 securities 37,081 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 43,808 2,546 10,000 2,503 3,600 3,900 2,500 7,850 1,687 752 1,625 1,510 5,335 2./ After deducting $ 88 million participations of other Federal Reserve Banks, 2_l Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $159 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis