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 H^.i^f*^* Condition Statement of F.R. Banks For immediate release January 27, 1966 The average of daily figures of total member bank reserves held during the week ended January 26 increased a net of $12 million to $22,^72 million. Estimated currency and coin of member banks decreased $lk million and their reserve balances at the Federal Reserve Banks increased $26 million. Estimated required reserves decreased $109 million; and estimated excess reserves increased $121 million to $318 million- Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $34 million; compared with net borrowed reserves of $21 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $13^ million in member bank borrowings; and $35 million in acceptances held under repurchase agreements, and a decrease of $381 million in currency in circulation. The principal offsetting changes were decreases of $356 million in Federal Reserve float and $123 million in U. S. Government securities bought outright, and an increase of $38 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $3-12 million. As of Wednesday, January 26, holdings of U. S. Government securities bought outright were $116 million higher than a week earlier and mem^r bank borrowings were $865 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 26, Jan. 19, Jan. 27, Jan. 26, and related items 1966 1966 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright "System account 40,210 -123 +3,876 4o,036 Held under repurchase agreements -- -- - 1-56 -- Acceptances- Bought outright 7^ - 1 + 18 73 Held under repurchase agreements 72 + 35 + 30 73 Discounts and advances- Member bank borrowings 352 +13^ + 149 912 Other 22 - 2 27 20 Float 2,085 -356 + 244 J.,618 Total Reserve Bank credit 42,8l6 -312 +4,185 42,732 Gold stock 13,733 -- -1,454 13,734 Treasury currency outstanding 5,615 + 6 + 228 5,635 62,164 -307 +2,958 62,101 Currency in circulation 41,237 -381 +2,593 41,188 Treasury cash holdings 839 + 12 + 182 840 Treasury deposits with F. R. Banks 746 + 38 - 251 740 Foreign deposits with F. R. Banks 144 + 8 7 134 Other deposits with F. R. Banks 231 - 11 + 18 236 Other F. R. accounts (net) 481 + 2 - 396 ^15 43,678 -333 +2,140 43,613 Member bank reserves: With Federal Reserve Banks 18,485 + 26 + 817 18,488 Currency and coin (estimated) 3.987 - 14 + 106 4,339 Total reserves held 22,472 + IS +1,213 22,827 Required reserves (estimated) 22,154 -109 +1,236 22,210 Excess reserves (estimated) 318 +121 - 23 617 On January 26, 1966, U. S. Government securities held in custody by the federal Reserve Banks for foreign account were $8,020 million, an increase of $100 million for hhe v<?ek a^yi.a decrease of $168 mi 11 ion from hhe comparable date Digitized for FRASER troes v» o nv-\ http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.lj-.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Jan. 26, Jan. 19, Jan. 27, 1966 1966 1965 A S S E TS Gold certificate account 11,681 - 21 -1,636 Redemption fund for F. R. notes 1,7^0 i 12 + 186 Total gold certificate reserves 13,^21 " 9 -1,^50 Cash (1,153) 167 •*• 16 ~ 12 Discounts and advances 932 + 865 -* 698 Acceptances: Bought outright 73 " + l6 Held under repurchase agreements 73 ^5 + 10 U. S. Government securities: Bought outright— Bills 8,658 + 116 +2,715 Certificates Notes 2^,828 — - 360 Bonds 6,550 ZZ +1*276 Total bought outright ^-0,036 + ll6 +3,631 Held under repurchase agreements " " 3l8 U0.036 + 116 +3.313 Total U. S. Government securities hi, n4 +1,026 +4,037 Total loans and securities Cash items in process of collection (1,591) 6,4n -1,171 + 559 Bank premises 103 •+ 1 Other assets i/ 799 _ 26 z il TOTAL ASSETS (2,7^0 62.015 Z. 112 +3.118 L I A B I L I T I ES Federal Reserve notes (1,153) 3^,2+7 30U +2,500 Deposits: Member hank reserves 18,U88 +1,095 + 668 U. S. Treasurer--general account - 114 - 167 Foreign 13+ + l Other -=/ 236 _____1 + 1+2 Total deposits 19.598 + 980 + 5^ Deferred availability cash items (1,591) ^>793 ~ 820 + ij-75 Other liabilities and accrued dividends 168 k_ - k6l TOTAL LIABILITIES (2,7^0 60,806 - iko +3,052 C A P I T AL A C C O U N T S, Capital paid in 555 3 + 27 Surplus 551 -- + 27 Other capital accounts 103 + 25 + 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,7^0 "62.015 " 112 -*3,ll8 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 35-9$ -2$ + 7-0$ Contingent liability on acceptances purchased for foreign correspondents 136 2 + 13 * Figures in parentheses are the eliminations made in the consolidating process; , see comparable figures on combined basis On the following pages. -=/Includes assets denominated in foreign currencies and IMF gold deposited. ^/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 26, 1966 (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 Discounts and Changes advanceJ S Acceptances Holdings during week Within 15 days 908 90 1,230 + 73 l6 days to 90 days 2k 56 5,820 4- 20 91 days to 1 year — -- 17,086 + 23 Over 1 year to 5 years ~ Ik,066 — Over 5 years to 10 yeairrss ~- 1,^9 -- Over 10 years — — ^85 _._ Total 932 lk6 40,036 +116 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hvl-l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 26, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 11,681 744 2,782 686 939 983 596 2,081 375 230 474 361 1,430 Redemption fund for F. R. notes 1.740 99 415 93 147 148 98 ^17 64 ^2 67 57 203 Total cold certificate reserves 13.421 843 3,197 779 1,086 1.131 694 2.398 439 262 54l 418 1,633 F. R. notes of other Banks 1.153 90 252 91 93 112 116 105 52 36 36 64 106 Other cash 167 12 24 6 15 14 17 23 10 5 11 8 22 Discounts and advances 932 42 301 3 29 72 38 290 25 2 46 15 69 Acceptances: Bought outright 73 73 Held under repurchase agreements 73 73 U. S. Government securities: Bought outright-- Bills 8,658 449 2,c84 452 734 613 495 1,442 331 180 339 356 1.183 Certificates Notes 24,828 1,286 5.977 1,297 2,107 1.756 1.419 4,135 949 514 972 1,022 3,394 Bonds 6.550 339 1,577 342 556 463 375 . 1..091.... 2.50 l?6 256 270 8Q5 Total 40,036 2,074 9.638 2,091 3.397 2,832 2,289 6,668 1.530 830 1,567 1,648 5,472 Held under repurchase agreements Total U. S. Government securities 40,036 2,074 9.638 2,091 3,397 2,832 2,289 6,668 1,530 830 1,567 1,648 5,472 Total loans and securities 4l,ll4 2,116 10,085 2,094 3.426 2,9c4 2,327 6.958 1.555 832 1.633 1,663 5,541 Cash items in process of collection 8,002 498 1,471 476 546 608 708 1.283 4o8 246 503 422 833 Bank premises 103 3 9 3 5 5 20 21 7 3 7 10 10 Other assets l/ 799 38 229 40 67 46 44 116 28 18 102 TOTAL ASSETS 64,759 3.6C0 15.267 3.489 5.238 4,820 3,926 10,9C4 2.499 1,402 2,744 2,623 8,247 1/ Includes assets denominated in foreign currencies and IMF gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT CF CCNDITICN CF EACH FEEERAL RESERVE BANK ON JANUARY 26, 1966 San New Phila Cleve Rich- St. Minne Kansas 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 Reserve notes 37,400 2,233 8,489 2,206 3.194 3,357 2,189 6,794 1,426 695 i,4o4 1.177 4,236 Deposits: Member bank reserves 18,488 783 4,992 765 1.386 845 1,022 2,786 642 433 846 973 3,015 U.S. Treasurer--general account 74o 43 109 37 59 58 66 80 50 32 56 54 96 Foreign 134 6 1/42 7 11 6 8 18 4 3 6 7 16 Other 236 * 165 1 1 6 11 1 * l 1 58 Total deposits 19.598 832 5.308 810 1.457 915 1.097 2,885 697 468 909 1.035 3.185 Deferred availability cash items 6.384 467 1,112 401 465 472 560 1,021 328 207 372 336 643 Other liabilities and accrued dividends 168 9 42 7 14 12 9 28 6 4 6 7 24 TOTAL LIABILITIES 63.550 3.541 14,951 3,424 5.130 4,756 3.855 10,728 2,457 1,374 2,691 2,555 8,088 CAPITAL ACCOUNTS Capital paid in 555 27 145 30 50 28 33 80 19 13 25 32 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 3 ? 72 Other capital accounts 103 5 27 5 8 8 5 17 4 2 4 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64,759 3,600 15,267 3,489 5,238 4,820 3,926 10,904 2,499 1,402 2,744 2,623 8,247 Contingent liability on accept ances purchased for foreign correspondents 136 7 2/36 7 12 • 1 7 8 19 5 3 6 8 18 1 , , FEDERAL RESERVE AGENT'S ACCOUNTS F. R. -notes outstanding 40,106 2, 350 9.071 2,316 3,466 3.560 2,4o8 7.294 1,518 734 1,497 1,279 4,613 Collateral for F. R. notes: Geld certificate account 6,625 44o 1,000 500 600 853 550 1,100 315 127 225 180 735 Eli gible paper 26 1 25 U. S. Government securities 34,725 1.945 8,200 1.900 2,950 2.765 1.900 6,4oo 1,310 625 1,300 1,130 4,300 Total collateral 4l,376 2.385 9,200 2,401 3.550 3.618 2,450 7,500 1,650 752 1.525 1,310 5.035 i/ After deducting $ 92 million participations of other Federal Reserve Banks, r2J Includes IMF gold deposit. * Less than $500,000. Digitized for FR2A.S/ ERA fter deducting $100 million participations cf other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis