H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••isgssfe;-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release January 6, 1966 The average of daily figures of total member "bank reserves held during the week ended January 5 increased $212 million to $23,293 million. Estimated currency and coin of member hanks increased $49 million and their reserve "balances at the Federal Reserve Banks increased $163 million. Estimated required reserves increased $29^ million; and estimated excess reserves decreased $82 million to $382 million* Member hank borrowings at the Federal Reserve Banks exceeded excess reserves by $180 million, compared with the revised net borrowed figure of $82 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $202 million in U. S. Government securities held under repurchase agreements and $^5 million in acceptances held under repurchase agreements, and decreases of $309 million in currency in circulation and $75 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $3^7 million in Federal Reserve float and $53 million in gold stock, and an increase of $69 million in "other1' deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $108 million* As of Wednesday, January 5; holdings of U. S. Government securities bought outright were $201 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $V00 million higher, and member bank borrowings were $l6l million higher. Averages of .daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 5, Dec. 29, Jan. 6, Jan. 5, and related items 1966 1965 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 40,607 - 24 +4,092 40,832 Held under repurchase agreements 423 +202 - 120 658 Acceptances-- Bought outright 74 + 8 + 16 73 He lid under repurchase agreements 111 + *5 + 77 119 Discounts and advances-- Member bank borrowings 562 + 16 + 253 660 Other 3B - 8 + 7 20 Float 2.366 -347 - 256 2, 524 Total Reserve Bank credit 44,l8l -108 +4,070 44,886 Gold stock 13,733 - 53 -1,655 13,734 Treasury currency outstanding 5,590 + 5 + l83 5.589 63,504 -155 +2,598 64,209 Currency in circulation 42,039 -309 +2,487 42,018 Treasury cash holdings 810 - 7 + 180 809 Treasury deposits with F. R. Banks 612 - 75 - 62 87 Foreign deposits with F, R. Banks 166 + 7 - 62 163 Other deposits with F. R. Banks 295 + 69 + 12 268 Other F. R. accounts (net) 346 - 3 - 680 488 44,267 -319 +1,874 43,833 Kember bank reserves: With Federal Reserve Banks 19,237 +163 + 724 20,377 >irrency and coin (estimated) 4,056 + 49 + 370 4,249 Total reserves held 23,293 +212 +1,094 24,626 Required reserves (estimated) 22,911 +294 +1,065 22,842 Excess reserves (estimated) 382 - 82 + 29 1,784 On January 5> 1966, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,970 million, a decrease of $l-kL*4- Million for the week and a decrease of $501 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT QF PONDITICN OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Chang*5 since Jan. 5, Dec. 29, Jan. 6, 1966 1965 1965 A S S E TS Gold certificate account 11,702 2 -1,803 Redemption fund for F. R. notes 1,732 + 162 Total gold certificate reserves * .13^34 2 -l6hl f Cash (872) 130 + 11 - 16 Discounts and advances 61 + 3^3 Acceptances: Bought outright + 17 Held under repurchase agreements 119 28 + 86 U. S. Government securities: Bought outright— Bills 9,454 + 201 +3,389 Certificates Notes 24,828 - - 360 Bonds 6,550 - ±1*276 Total hought outright 40,832 + 201 +4 305 Held under repurchase agreements 5^3 I^QQ 'l53 + + Total U. S Government securities 4l,490 + 601 +4 4*58 v Total loans and securities 42,362 + 769 +4 904 Cash items in process of collection H 502) 7 075 86 - 79 Bank premises ' '^03 + 1 Other assets _725 - 248 + 129 TOTAL ASSETS (2,37*0 63.829 7~444 T3J98 L I A B I L I T I ES Federal Reserve notes (872) 37,067 - 297 +2 559 Deposits: Member bank reserves 20,377 +1 635 +1 834 U. S. Treasurer--general account 87 - 446 - 405 Foreign 163 + 4 - 66 Other 268 + 4l +_ 67 Total deposits 20,895 +1,234 +1,430 Deferred availability cash items (l,502) 4,551 - QOR - 299 Other liabilities and accrued dividends 102 - 14 - 447 TOTAL LIABILITIES (2,37*0 62,705 7~528 +3,243 C A P I T AL A C C O U N TS Capital paid in ^ ^ 2 + + 2Q Surplus 551 + 2 + Other capital accounts 21 TIC TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( 374) 63,829 "+ ' 444 + H I1 2 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shewn on the following pages--not consolidated) 35-4$ .1$ - 7.4$ Contingent liability on acceptances purchased for foreign correspondents 242 1 + 19 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages* MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 5. 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements, ) Discounts and U. S. Government securities advance> S Acceptances Within 15 days 657 132 16 days to 90 days 23 60 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 yea,rrss Over 10 years Total 680 192 41,490. +601 1 1 1 11 1 1 1 11 Changes Holdings during week 1,550 +538 6,505 +238 17,535 -175 14,066 385 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMEFI CF CONDITION OF EACH FEEERAL RESEWE EAKK OK JANUARY 5, 1966 San Total Boston Kew Phila Cleve- Rich Atlanta Chicago St. Minne- Kansas Eallas Fran York delphia land mond Louis apclis City cisco (In millions; of dollars) A S S E TS Gold certificate account 11,702 691 2,378 684 935 1,022 658 2,203 412 200 4l4 363 1,742 Redemption fund for F. R. notes -LJ3L 99, 408 94 148 141 99 318 64 32 68 57 204 Total gold certificate reserves 1 3 ,^ 790 2,786 778 1,083 1,163 757 2,521 476 232 482 420 1,946 F. R. notes cf ether Banks 872 71 160 65 63 102 85 85 39 3^ 31 50 87 Other cash 130 8 17 6 11 10 14 21 8 4 8 7 16 Discounts and advances 660 63 ^37 14 3 7 74 19 18 28 7 Acceptances: Bought outright 73 -- 73 -- -' -- -~ -- -- Held under repurchase agreements 119 119 U. S. Government securities: Bought outright-- Bills 9,h5k 14.9C 2,276 494 802 669 54o 1,575 361 196 370 389 1,292 Certificates -- ~- __ __ ... __ -- .._ _.. -- __ -- Notes 24,828 1,286 5,977 1,297 2,107 1,756 1,419 ^,135 949 51* 972 1,022 3,39^ Bonds 6,, 550 _33S . 1,577 342 556 463 3Z5_ „UC9i__ _250 136__ 256 220 895 r Total 40,832 2,115 9,830 2,133 3,465 2,888 2,33^ 6,8ci 1,560 846 1,596 1,681 5,581 Held under repurchase agreements 658 658 •-- Total U. S. Government securities kljk90 .2^1.15. 10,488 2,133 1M3 . 2,888 _ 2,_334 6,801 1,560 846 1,598 1,681 5,581 Total loans and securities 42,362 2,178 11,117 2,136 3,479 2,891 2,3^1 6,875 1,579 864 1,626 1,686 5,588 Cash items in process of collection 8,577 559 1,447 443 579 642 73^ 1,5^7 466 297 572 448 843 Bank premises 103 3 9 3 5 5 20 20 7 3 7 11 10 Other assets 725 3k 209 38 60 4i 4c 105 24 16 31 33 94 TCTAL ASSETS 66,203 3,643 15,7^5 3,^71 5,280 M54 3,991 11,17^ 2,599 1,^50 2,757 2,655 8,584 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.1(c) STATEMENT CF CONDITION OF EACH FEIERAL RESERVE BANK CM JANUARY 5, 1966 j San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas 1 Dallas Fran Ycrk delphia land mond Lcuis apo'.is civ cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes '<37*939 2,254 8,6CO 2,241 3,237 3,388 2,246 6,885 1,447 701 1,431 1,191 4,318 Deposits: Member "bank reserves *20,3£T 847 5,954 769 1,415 896 1,088 2,949 734 483 848 1,018 3,376 U.S. Treasurer-general account 6 24 6 6 6 6 6 5 5 6 6 5 Foreign 163 7 1/52 8 14 8 9 21 5 3 7 9 20 Other 268 * 205 1 * 4 2 1 1 1 2 1 50 Total deposits 20,895 860 6,235 784 1,435 914 1,105 2,977 745 492 863 1,C3',L 3.451 referred availability cash items 6,053 465 559 377 492 481 563 1,120 361 226 4c6 359 644 Other liabilities and accrued dividends TOP 9 57 8 15 13 10 31 7 4 8 7 2^ TOTAL LIABILITIES 65,079 3,588 15,451 3,4ic 5A79 4,796 3,924 11,013 2,560 1,423 2,708 2,591 8,436 CAPITAL ACCOUNTS Capital paid in 552 27 145 30 50 28 33 79 19 13 24 32 72 Surplus 551 27 144 3C 50 28 33 79 19 13 24 32 72 Other capital accounts 21 1 5 1 1 2 1 3 1 1 1 * 4 TOTAL LIABILITIES ANI CAPITAL ACCOUNTS -££*2Q3L _3Ja43_J L5*3k5__ 3j£ZI_ _5L*2SC_ _JU85JL_ _3-^2ai_ JO*XZk_ _2_5..9.9—_ Ui5G-_2^7_ -2J65- __8_v5-84_ Contingent liability on accept ances purchased for foreign c orre sp ondent s 1^2 7 ^37 8 13 7 8 20 5 3 7 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding ^0,3^9 2,367 9,C89 2,337 3,480 3,574 2,434 7,338 1,534 739 1,509 1,294 4,654 Collateral for F. R. notes: Gold certificate ace cunt- 16, 62251 440 1,CCC 5C0 6CC 853 55C 1,100 315 127 225 180 735 Eligible paper 3 3 18 U. S. Government securities ' .^,710 1.945 8,200 1,900 2,950 2,75C 1,900 6,4CC 1,310 625 1,300 1,130 4.300 Total collateral to, 356 2,385 9,200 2,403 3,550 3,603 2,450 7,5CC 1,643 752 1,525 1,310 5,035 l/ After deducting $111 million participations of ether Federal Reserve Banks. * Less than $500,000. 2/ After deducting $105 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis