H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.U.I ***"* For immediate release February 3, 1966 The average of daily figures of total member bank reserves held during the week ended February 2 increased a net of $125 million to $22,580 million. Estimated currency and coin of member banks decreased $59 million and their reserve balances at the Federal Reserve Banks increased $l8U million. Estimated required reserves increased $22 million; and estimated excess reserves increased $103 million to $U01 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $17 million, compared with the revised net borrowed figure of $5^ million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $2^9 million in U. S. Government securities held under repurchase agreements, $89 million in U. S. Government securities bought out right, and $66 million in member bank borrowings, and a decrease of $156 million in currency in circulation. The principal offsetting changes were decreases of $178 million in Federal Reserve float and $3^ million in acceptances held under repurchase agreements, and increases of $88 million in Treasury deposits with Federal Reserve Banks, $59 million in "other" F. R. accounts (net), and $3^ million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $189 million. As of Wednesday, February 2, holdings of U. S. Government securities bought outright were $563 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $1*46 million higher, and member bank borrowings were $317 million lower. Average s of daily figures j Member bank reserves, Week ended :C hange from week ended;W ednesday, Reserve Bank credit, Feb. 2, Jan. 26, Feb. 3, i Feb. 2, and related items 1966 1966 1965 1966 t*>1 millions o'f dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 4o, 299 + 89 +3,530 40,599 Held under repurchase agreements 249 +21*9 + l42 446 Acceptances-- Bought outright 73 - 1 + 15 73 Held under repurchase agreements 38 - 3^ - 18 35 Discounts and advances-- Member bank borrowings 4i8 + 66 + 140 595 Other 21 - l - 2k 20 Float 1,907 -178 + 296 1,890 Total Reserve Bank credit 43,005 +189 +4,082 43,658 Gold stock 13,732 - 1 -1,425 13,734 Treasury currency outstanding 5,632 + 17 + 236 5,635 62,369 +205 +2,893 63,027 Currency in circulation in, 081 -156 +2,516 41,156 Treasury cash holdings 831 - 8 + 167 828 Treasury deposits with F. R. Banks 834 + 88 - 106 1,039 Foreign deposits with F. R. Banks 178 + 3k + 30 167 Other deposits with F. R. Banks 235 + k + 19 236 Other F. R. accounts (net) 54o + 59 - 492 697 43,700 + 22 +2,135 44,123 Member bank reserves: With Federal Reserve Banks 18,669 +184 + 757 18,904 Currency and coin (estimated) 3,911 - 59 + 422 4,102 Total reserves held 22,580 +125 +1,179 23,006 Required reserves (estimated) 22,179 + 22 +1,160 22,430 1 576 Excess reserves (estimated) 4oi +103 + 19 On February 2, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,767 million, a decrease of $253 million for the week and a decrease of $212 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, 0?.. CONDITION OF THE TWELVE FEDERAL MSEKVE BANkS (in millions of dollar^/ . Change since Feb. 2, Jan. 26, Feb. 3, 1966 1966 1965 A S S E TS Gold certificate account 11,696 + 15 -1,546 Redemption fund for F. R. notes 1'1^? — + XJ^ Total gold certificate reserves „ 13,436 + 15 -17368 Cash (i,ivr) 168 + 1 - 17 Discounts and advances 615 - 317 - 140 Acceptances: Bought outright 73 -- + 15 Held under repurchase agreements 35 38 28 U. S. Government securities: Bought outright-- Bills 9,221 + 563 +2,53^ Certificates «- — — Notes 24,828 — - 360 Bonds 6,550 — +1,276 Total "bought outright 40,599 + 563 +3,450 Held under repurchase agreements 446 + 446 + 208 Total U. S. Government securities 41,045 +1 ,009 +3,658 Total loans and securities 41,768 + 65S +3,505 Cash items in process of collection (1^28) 6,468 + 5T + 651 Bank premises 102 - 1 — Other assets 1/ 622 - 177 2 TOTAL ASSETS (2,575) 62,56*1 + 549 +2,769 L I A B I L I T I ES Federal Reserve notes (1,147) 36,219 28 +2,435 Deposits: Member hank reserves 18,904 + 4l6 + 5C0 U. S. Treasurer--general account 1,039 + 299 + 14 Foreign 167 4- 33 + 29 Other 2/ (1) 236 — + 25 Total^.deposits (1) 20,346 + 748 + 568 Deferred availability cash items (1,427) ^,578 - 215 + 158 Other liabilities and accrued dividends 181 + 13 - 467 TOTAL LIABILITIES (2,575) 61,324 + TO? +2,694 C A P I T AL A C C O U N TS Capital paid in 555 -- + 27 Surplus 551 -- + 27 Other capital accounts 13^ + 31 + 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,575) 62,564 + 5^9 +2,769 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 36*0$ + «1$ - 6.7$ Contingent liability on acceptances purchased for foreign correspondents 13^ 2 + 12 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, l/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. , MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 2, 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 advances Acceptances Holdings during week Within 15 days 592 52 3,767 +2,537 16 days to 90 days 23 56 4,097 -1,723 91 days to 1 year «... 17,281 + 195 Over 1 year to 5 year:s -.- __ 14,066 Over 5 years to 10 years — — 1,449 Over 10 years — — 385 Total 615 108" 41,045 +1,009 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 2, 1966 I San New Phila Cleve- •' Rich St. Minne- Kansas Total Boston Atlanta Chicago i Fran York delphia land mond Louis apolis City jDallas cisco (in millions of dollars) A S S E TS 1 1 Gold certificate account 11,6961 739 2,069 748 1,122 1,075 644 2,46o 4i9 206 429 361 1,424 Redemption fund for F. R. notes j 1,7401 99 415 93 147 148 99 317 64 32 67 56 203 Total gold certificate reserves 1 13,436' 838 2,484 84i 1,269 1,223 743 2,777 483 238 496 4i7 1,627 F. R. notes of other Banks 1 1,147 • 87 258 91 96 103 116 109 50 37 38 65 97 Other cash 168: 12 25 6 15 15 19 23 9 0 s 7 9 22 Discounts and advances 615 ! 22 162 19 15 4l 20 161 30 10 30 6 99 Acceptances: Bought outright 1 73 73 Held under repurchase agreements 35 U. S. Government securities: 35 Bought outright-- Bills 1 9,221 485 2,279 472 758 630 517 1,522 342 200 369 385 1,262 Certificates Notes 24,828; 1,305 6,135 1,271 2,c4i 1,696 1,394 4,ioo 922 537 992 1,036 3,399 Bonds 1 6,550, 344 1,619 335 539 446 368 1,081 243 142 262 273 896 Total i 40,599 : 2 ,134 10,033 2,078 3,338 2,774 2,279 6,703 1,507 879 1,623 1,694 5,557 Held under repurchase agreements 446 446 Total U. S. Government securities 4i,o45i 2,134 10,479 2,078 3,338 2,774 2,279 6,703 1,507 879 1,623 1,694 5,557 Total loans and securities 4i,768 2,156 10,749 2,097 3,353 2,815 2,299 6,864 1,537 889 1,653 1,700 5,656 Cash items in process of collection 7,896i 536 l,4i8 481 566 613 64o 1,343 376 256 471 385 811 Bank premises 102i 3 9 3 5 5 20 20 7 3 7 10 10 Other assets l/ 622 ! 29 185 31 50 36 33 92 21 13 26 26 8o TOTAL ASSETS 65,139! 3,661 15,128 3,550 5,354 4,810 3,870 11,228 2,483 1,442 2,698 2,612 8,303 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 OF CONDITION OF EACH FEDERAL RESERVE BANK CN FEBRUARY 2, 1966 1 San New Phila Cleve- Rich St. Minne- Kansas Total Boston Atlanta Chicago Fran York delphia land mond Louis apolis City [Dallas cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 37,366 2,233 8,483 2,200 3,183 3,360 2,187 6,78.1 1,424 693 i,4c6 1,178 4,238 Deposits: Member bank reserves 18,904 771 4,884 847 1,485 863 1,037 3,048 676 449 798 1,005 3,041 U.S. Treasurer--general •i<c count 1,039 82 210 76 92 68 54 104 75 51 8C 41 106 Foreign 167 8 1/48 9 14 8 10 23 6 4 7 9 21 Other ?T7 1 ?7;L67 1 1 . 6 1 # ? 1 Total deposits 20,347 862 5,309 933 1,592 9^7 1,102 3,176 756 504 887 1,056 3,221 Deferred availability cash items 6,005 497 964 3^2 454 426 496 1,060 251 213 344 301 657 Other liabilities and accria ed dividends l8l 9 49 8 14 12 10 30 7 3 7 8 24 TOTAL LIABILITIES 63,899 3,601 14,805 3,483 5,243 4,745 3,795 11,047 2,44o 1,^13 2,644 2,5^3 6,140 CAPITAL ACCOUNTS Capital paid in 555 27 145 30 50 28 33 8c 19 13 25 32 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 13^ 6 34 7 11 9 9 22 5 3 . 5 5 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,139 3,661 15,128__ 3,550 5,35^ 4,810 3,870 11^228 2,483 1,442 2,698 _2,6l2 _8_-J03__ Contingent liability on acs eptances purchased for forei gn corre spondents I 13JL 6_ 3/35 7_ 12 I_ 8 19 5_ 3__ 6 8_ 18 FEDERAL RESERVE AGENT'S ACCOUNTS F.R. notes outstanding 40,009 2,344 9,C62 2,3C8 3,^63 3,5^7 2,395 7,278 1,512 731 1,489 1,276 4,6c4 Collateral for F. R. notes: Gold certificate account 6,660 44o 1,000 500 6cc 886 550 1,100 315 127 225 180 735 Eligible paper JM53_ 8,200 16 2,950 2,693 1,900 6,4oo 1,31 2 0 9 625 1,300 1,130 4,300 U. S. Government securities 1,900 Total collateral 41,358"• 2,385 9,200 2,4i6 3,550 3,581 2,450 7,500 1,654 752 1,525 1,310 5,035 1/ After deducting $L19 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $99 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis