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 January 13, 1966 The average of daily figures of total member "bank reserves held during the week ended January 12 decreased a net of $39 million to $23,232 million. Estimated currency and coin of member banks decreased $93 million and their reserve balances at the Federal Reserve Banks increased $54 million. Estimated required reserves decreased $395 million; and estimated excess reserves increased $356 million to $678 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $88 million, compared with the revised figure of minus $240 million the week before, when excess reserves were less than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $2l6 million in U. S. Government securities bought outright, and decreases of $76 million in currency in circulation and $63 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $101 million in U. S. Government securities held under repurchase agreements, and increases of $144 million in "other" F. R. accounts (net) and $69 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $128 million. As of Wednesday, January 12, holdings of U. S. Government securities bought outright were $63 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $658 million lower, and member bank borrowings were $557 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 12, Jan. 5, Jan. 13, Jan. 12, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 40,823 +216 +4,308 40,769 Held under repurchase agreements 322 -101 + 21 Acceptances~- Bought outright 7^ + 19 73 Held under repurchase agreements 86 - 25 + 44 76 Discounts and advances— Member bank borrowings 590 + 28 + 166 103 Other 23 - 15 - 13 20 Float 2,390 + 24 + 24l -1,981 Total Reserve Bank credit 44,309 +128 +4,787 43,022 Gold stock 13,734 -1,596 13,734 Treasury currency outstanding 5,597 + 1 + 203 -5x602 63,64o +3,393 62,363 +136 Currency in circulation M,S63 - 76 +2,681 41,894 Treasury cash holdings 8o4 - 6 + 155 813 Treasury deposits with F. R. Banks 681 + 69 - 99 79^ Foreign deposits with F. R. Banks 178 + 12 8 153 Other deposits with F. R. Banks 232 - 63 + 27 237 Other F. R. accounts (net) 4QO +l44 - 480 i __AJ8 44,348 + 81 +2,275 44,369 Member bank reserves: With Federal Reserve Banks 19,291 + 54 +1,117 1 17,993 Currency and coin (estimated) _a.^hi ^92 + 270 4,388 Total reserves held 23,232 - 39 +1,387 22,38.1 Required reserves (estimated) 22,55^ -395 +1,297 22,460 Excess reserves (estimated) 678 +356 + 90 1 - 79 On January 12, 1966, U« S. Crovernment securities held in custody by the Federal Reserve Banks for foreign account were $7,894 million, a decrease of $76 million for the week and a decrease of $584 million from the comparable date Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSCLIIATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Jan. 12; Jan. 5, 1966 1966 ___12.65....... A S S E Gold certificate account 11,702 -l,602 Redemption fund for F. R. notes 1,725 i _i,64 Total gold certificate reserves -1,438 13,430 Cash (924) 139 9 22 Discounts and advances 123 557 Acceptances: Bought outright 73 Held under repurchase agreements 76 43 31 U. S. Government securities: Bought outright-- Bills 9,391 63 +3,371 Certificates Notes 24,828 - 360 Bonds 6.550 +1,276 Total bought outright 40,769 63 +4,287 Held under repurchase agreements 658 - 42 Total U. S« Government securities 40,769 - 721 +4,245 Total loans and securities 4i, o4i -1,321 +4,224 Cash items in process of collection (1,523) 7,213 + 138 + 417 Bank premises 103 + 1 Other assets 751 + 26 - 6 TOTAL ASSETS (2,447) 62.677 -1,152 +3,176 L I A B I L I T I ES Federal Reserve notes (924) 36,936 131 +2,669 Deposits: Member hank reserves 17,993 -2,384 + 905 U. S. Treasurer--general account 794 + 707 - 165 Foreign 153 - 10 - 61 Other 237 31 + 31 Total deposits 19,177 -1,718 + 690 Deferred availability cash items (1,523) 5,232 + 681 216 Other liabilities and accrued dividends 179 13 1+60 TOTAL LIABILITIES (2,447) 61,524 -1,181 +3,115 C A P I T AL A C C O U N TS Capital paid in 552 + 28 Surplus 551 + 27 Other capital accounts 29 + 6 5C TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,447) 62,677 ^1,152 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35*5$ + .1$ - 6*9% Contingent liability on acceptances purchased for foreign correspondents 1^1 1 + 17 * 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 12, 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 Change s advance s Acceptances Holdings during week Within 15 days ICO 95 1,025 "525 16 days to 90 days 23 5^ 6,371 -Ilk 91 days to 1 year — -- 17,473 - 62 Over 1 year to 5 years -- 14,c66 — Over 5 years to 10 yeatrrss -- 1,449 — Over 10 years -- -- ^85 ~- Total 123 149 40,769 -721 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 12,1966 oan Total Boston New Phila Cleve- Rich Atlanta hicagc St. Minne- Kansas (Dallas ! Fran- York delphia land mend Louis apolis City I 1 Cisco (in millions of dollarrss)) A S S E TS Geld certificate account 11,702 811 2,158 769 i,oi4 1,079 707 2,195 44o 196 501 348 1,484 Redemption fund for F. R. notes 1,728 99 4c8 _ l^J- _1^I 99 316 64 32 _ 67 57 203 Total gold certificate reserves 13^30 910 2,566 '862 1,161 1,220 806 2,513 504 228 568 405 1,667 F. R. notes of other Banks 71 188 70 68 ic4 93 90 4i 30 31 53 85 Other cash 139 19 6 12 11 14 22 8 4 9 7 18 Discounts and advances 123 10 71 12 Acceptances: Bought outright 73 73 Held under repurchase agreements 76 76 U. S. Government securities: Bought outright~- Bills 9,39l! ^87 2,260 491 796 664 537 1,564 359 195 368 386 1,284 Certificates Notes 24,828i 1,286 5,977 1,297 2,107 1,756 lAl9 ^,135 949 514 972 1,022 3,394 Bonds 1*550] 332 LL2LL 55L k63 -3ZL 2J>C_ 136. 256 27c 895 Total 40,769 2,112 9,8l4 2,130 3,459 2,883 2,331 6,790 1,558 845 1,596 1,678 5,573 Held under repurchase agreements Total U. S. Government securities 40,769 .2.A1.12_ .9_,8l4. .2A3P_. .3,15.9 2^8J3._,._2 311 6,120 1,158... 845 1,596 1,678 5,573 X Total loans and securities 4i,o4i 2,115 9,973 2,132 3,46i 2,886 2,34o 6,86l 1,561 849 1,608 1,679 5,576 Cash items in process of collection 8,736 535 1,667 487 613 659 731 1A29 458 278 546 449 884 Bank premises 103 3 9 3 5 5 20 20 7 3 7 11 10 Other assets 751 36 215 39 64 ^3 4i 107 25 12_ _3?_ 35 97 TOTAL ASSETS 65,124 3,679 14,637 3,599 5,384 4,928 4,o45 11,042 2,6c4 i,4c9 2,801 2,639 8,357 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4,1(c) STATEMENT CF CONDITION CF EACH FEDERAL RESERVE BANK ON JANUARY 12, 1966 1 1 San New Phila Cleve- Rich- St. Minne-j Kansas Total Boston [Atlanta Chicago 1 Lallas Fran York delphia land 1 mend Louis apclis I 1 City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 37,860 2,255 8,578 2,229 3,234 3,388 2,232 6,868 1,^45 702 1,427 1,189 4,313 [Deposits: Member bank reserves 17,993 828 ^,350 798 1,434 825 1,098 2,748 681 414 850 945 3,022 U.S. Treasurer-general ac : count 79^ 28 172 73 50 91 46 67 73 27 50 50 67 Foreign 153 7 lA3 8 13 8 9 21 5 3 7 9 20 Other 237 # 163 l l 6_ 1 2_ 1_ 1_ 2 1_ S8 Total deposits 19,177 863 4,728 880 1,^98 930 1,154 2,838 76w 445 909 1,005 3,167 Referred availability cash items 6,755 496 985 418 533 538 580 l,l4o 353 230 4o8 372 702 Other liabilities and accn led dividends 179 9 44 10 15 13 10 ^tO 6_ 5_ 1— 7- 23 TOTAL LIABILITIES 63,971 3,623 14,335 3,537 5,280 M 69 3,976 10,876 2,564 1,382 2,751 2,573 8,205 CAPITAL ACCOUNTS Capital paid in 552 27 145 30 50 28 33 79 19 13 24 32 72 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 50 2 13 2 4 3 3 8 2 1 2 2 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,124 3,679 1^,637 3,599 5,384 4,928 4,045 11,042 2,6c4 1,^09 2,801 2,639 8,357 Contingent liability on ace >eptances purchased for forej Lgn correspondents 141 7 . g/37 8 13 7 8 20 5_ 3 6 _ 8 19__ FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes cutstanding 40,287 2,360 9,091 2,331 3,480 3,570 2,420 7,328 1,527 738 1,507 1,289 4,646 Collateral for F. R. notes: Gold certificate account 6,625 44o 1,CCC 500 6co 853 550 1,100 315 127 225 18C 735 Eligible paper 4 1 3 U. S. Government securities _3^r730 1,945 8,2CC 1,900 2,950 2,770 l,9CO 6,4cc 1,310 625 1,300 1,130 4,3CC Total collateral 41,359 2,385 9,2C0 2,401 3,550 3,623 2,450 7,500 1,628 752 1,525 1,310 5,035 l/ After deducting $110 million participations of other Federal Reserve Banks. * Less than $5C0,C0C. 2/ After deducting $104 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis