H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release February 10, 1966 The average of daily figures of total member bank reserves held during the week ended February 9 decreased a net of $l68 million to $22,374 million. Estimated currency and coin of member banks decreased $295 million and their reserve balances at the Federal Reserve Banks increased $127 million. Estimated required reserves decreased $205 million; and estimated excess reserves increased $37 million to $383 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $120 million, compared with the revised net borrowed figure of $72 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $409 million in U. S. Government securities bought outright, $160 million in U. S. Government securities held under repurchase agreements, and $85 million in member bank borrowings, and a decrease of $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $236 million in Federal Reserve float, and increases of $173 million in "other" F. R. accounts (net), $115 million in currency in circulation, and $45 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $420 million. As of Wednesday, February 9, holdings of U. S. Government securities bought outright were $78 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $59 million lower, and member bank borrowings were $172 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 9, Feb. 2, Feb. 10, Feb. 9, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 4o,708 +409 +3,575 40,677 Held under repurchase agreements 409 +160 + 270 387 Acceptances-- Bought outright 72 - 1 + 13 73 Held under repurchase agreements 42 + 4 - 22 36 Discounts and advances-- Member bank borrowings 503 + 85 + 31 423 Other 20 - l - 25 20 Float 1,671 -236 + 199 1,438 Total Reserve Bank credit 43,425 +420 +4,o4i 43,054 Gold stock 13,73*+ + 2 -l,311 13,734 Treasury currency outstanding 5,646 + 14 + 255 5,648 62,805 +436 +2,985 62,436 Currency in circulation 4i,196 +115 +2,555 41,329 Treasury cash holdings 833 + 2 + 154 835 Treasury deposits with F. R. Banks 879 + 45 - 45 925 Foreign deposits with F. R. Banks 152 - 26 — 142 Other deposits with F. R. Banks 235 -- + 28 234 Other F. R. accounts (net) 713 +173 - 445 707 44,008 +308 +2,247 44,172 Member bank reserves: With Federal Reserve Banks 18,796 +127 + 736 18,264 Currency and coin (estimated) 3,578 -295 + 326 3,936 Total reserves held 22,37^ -168 +1,062 22,200 Required reserves (estimated) -205 +1,176 21,867 21,991 Excess reserves (estimated) 383 + 37 - u4 333 On February 9, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,906 million, an increase of $139 million for the week and a decrease of $40 million from the comparable date Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Feb. 9, Feh. 2, Feb. 10, 1966 1966 1965 A S S E TS Gold certificate account 11,696 -1,396 Redemption fund for F. R. notes 1,731 - 9 + 177 Total gold certificate reserves 13,427 - 9 -1,219 Cash (1,051) 172 + 4 Discounts and advances 443 -172 f 299 Acceptances: Bought outright 73 + 15 Held under repurchase agreements 36 + l - 37 U. S. Government securities: Bought outright-- Bills 9,299 + 78 +2,628 Certificates Notes 24,828 — - 360 Bonds 6,550 -- +1,276 Total bought outright 40,677 + 78 +3,544 Held under repurchase agreements 387 - 59 + 278 Total U. S. Government securities 41,064 + 19 +3,822 Total loans and securities 41,616" -152 +4,099 Cash items in process of collection (1,368) 6,238 -230 + 590 Bank premises 102 -- -- Other assets A/ 645 + 23 + 81 TOTAL ASSETS (2,419) 527200 33 +J3,551 L I A B I L I T I ES Federal Reserve notes (l,05l) 36,381 +l62 +2,444 Deposits: Member bank reserves 18,264 -640 + 929 U- S. Treasurer--general account 925 -114 + 18 Foreign ±k2 - 25 - 1 Other =/ 234 - 2 + 42 Total deposits 19,565 ^781 + 988 Deferred availability cash items (1,368) 4,800 +222 + 501 Other liabilities and accrued dividends 186 + 5 459 TOTAL LIABILITIES (2,4l9) 60,932 ^392 +3, 474 C A P I T AL A C C 0 U 1 TS Capital paid in 556 + 1 + 27 Surplus 55I + 27 Other capital accounts l6l + 27 + 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,4l9) £27200 T^ +3, 551 Ratio of gold certificate reserves to F. R- note liability (computed from figures as shown on the following pages--not consolidated) 35«9$ -.1$ -1 6.3* Contingent liability on acceptances purchased for foreign correspondents I38 + 4 + 18 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages, i/lncludes assets denominated in foreign currencies and IMF gold deposited. ^Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 9, 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 Dis counts and Change s advance: s M ceptances Holdings during week Within 15 days 420 3,803 +36 16 days to 90 days 23 55 4,012 -85 91 days to 1 year — — 17,349 +68 Over 1 year to 5 years — — l4,c66 — Over 5 years to 10 years -- — 1,449 — Over 10 years -- __ 385 — m Total 109 IaJoOT +19 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.I (Ta) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 9, 1966 ——___- San New Phila Cleve Rich St. Minne- Total |Boston Atlanta Chicago Kansas Dallas Fran York delphia land mond Louis apolis City cisco Cm millions; of dollars) A S S E TS Gold certificate account 11,696 1 757 2,192 792 1,056 1,136 722 2,279 436 182 408 314 l,te2 Redemption fund for F. R. notes 1.731 1 98 klk 92 147 146 98 316 6^ ^1 67 s6 2Q-3 Total gold certificate reserves 13,^27 | 855 2,606 884 1,203 1,282 820 2,595 499 213 475 370 1,625 1 84 F. R. notes of other Banks 1,051 252 67 89 96 111 97 44 32 31 63 85 Other cash 172 13 26 6 16 15 20 22 9 6 9 9 21 wo Discounts and advances 31 59 3 3 16 25 106 10 3 102 6 79 Acceptances: Bought outright 73 " 73 -- -- — -- -- -- -- -- -- -- Held under repurchase agreements 36 " 36 -- -- -- — — — -- -- -- -- U. S. Government securities: Bought outright-- Bills 9,299 U89 2,298 476 765 635 522 1,535 345 201 372 388 1,273 Certificates ~- -- -- -- -- __ -- -- -- -- -- -- -- Notes 24,828 1l,305 6,135 1,271 2,o4i 1,696 1,394 4,100 922 537 992 1,036 3,399 Bonds 6,550 344 1.619 335 -5.32. 448 368 JU£8j 24^ T42_ 262, 273 8Q6 Total 4o, 677 2,138 10,052 2,082 3,345 2,779 2,284 6,716 1,510 880 1,626 1,697 5,568 Held under repurchase agreements 3b? -- 387 -- „ -- -- -- -- -- -- -- -- Total U.S. Government securities j 41.064 2.1^8 io. top 2.082 -^^5 2,770 ?, ?84 6.71 6 ij^in PRn i,6?fi 1 607 5.568 Total loans and securities 41,616 2,169 10,607 2,085 3,348 2,795 2,309 6,822 1,520 883 1,728 1,703 5,647 Cash items in process of collection 7,606 523 1,403 474 505 642 665 1,217 358 245 457 370 747 Bank premises 102 3 9 5 5 20 20 7 3 7 10 10 Other assets l/ 645 31 189 35 51 37 34 94 22 15 27 28 82 TOTAL ASSETS 64,619 3,678 15,092 3,554 5,217 4,872 3,979 10,867 2,459 1,397 2,734 2,553 8,217 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 ON FEBRUARY 9, 1966 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City Cisco (In millionE5 of dollars) L I A B I L I T I ES Federal Reserve notes 37,432 2,238 8,479 2,2C6 3,188 3,360 2,192 6,798 1,427 695 l,4ll 1,183 4,255 Deposits: Member "bank reserves 18,264 779 4,808 813 1,362 836 1,107 2,710 634 432 863 925 2,995 U.S. Treasurer--general ia ccount 925 1 74 184 46 66 85 60 119 57 39 47 58 90 Foreign 142 1/3? 8 13 I 8 20 5 3 6 8 18 7 Other 2^4 2/164 2 1 2 1 1 1 2 l Total deposits 19,565 860 5,195 869 1,442 934 1,177 2,850 697 475 918 992 3,156 Deferred availability cash items 6,168 508 i,o4o 402 460 498 523 1,003 284 194 343 300 613 pther liabilities and accrij ed dividends 186 10 48 9 14 12 10 U 7 4 7 8 ?6 TOTAL LIABILITIES 63,351 3,616 14,762 3,486 5,104 4,804 3,902 10,682 2,415 1,368 2,679 2,483 8,05c CAPITAL ACCOUNTS Capital paid in 556 27 145 30 50 29 33 80 19 13 25 32 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 161 8 41 8 13 11 11 26 6 3 6 6 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64,619 3,678 15,092 . 3,554 5,217 4,872 3,979 10,867_ 2,459 1,397 .2,734. 2,553 8,217 Contingent liability on ac<: eptances purchased for fore:L gn _J66 correspondents .._ _ 138 T 8 12 L_ 8 20 5_ _3._ 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,033 2,302 3,456 3,537 2,392 T,26l 1,505 735 1,483 1,277 ^,595 Collateral for F- R. notes: Gold certificate account 1,000 500 6CC 888 550 1,100 315 127 225 180 735 Eligible paper 2 — - 9 - U. S. Government securities 8,200 1,900 2,950 2,69^ 1,900 6.400 3,^10 6?^ 1,^00 1.H0 ,4,300- Total collateral 9,200 2,402 3,550 3,581 2,450 7,500 1,634 752 1,525 1,310 5,035 1/ After deducting $103 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $102 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis