H.4.1 Factors Affecting Reserve Balances of Depository Institutions

ctf Gov/ F E D E R AL R E S E R VE Factors Affecting Bank Reserves and f*URE&V Condition Statement of F.R. Banks H.4.1 For immediate release February 17, 1966 The average of daily figures of total member bank reserves held during the week ended February 16 decreased a net of $215 million to $22,135 million. Estimated currency and coin of member banks increased $213 million and their reserve balances at the Federal Reserve Banks decreased $428 million. Estimated required reserves decreased $176 million; and estimated excess reserves decreased $39 million to $331 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $122 million, compared with the revised net borrowed figure of $133 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $166 million in U. S. Government securities bought outright, $l42 million in U. S. Government securities held under repurchase agreements, and $50 million in member bank borrowings, and increases of $87 million in currency in circulation, $32 million in "other" F. R. accounts (net), and $31 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $68 million in Federal Reserve float. Total Reserve Bank credit decreased $295 million. As of Wednesday, February 16, holdings of U. 3. Government securities bought outright were $457 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $387 million lower, and member bank borrowings were $301 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 16, Feb. 9, Feb. 17, Feb. 16, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 40, cjk2 -166 +3,454 40,220 Held under repurchase agreements 267 -142 + 204 Acceptances- Bought outright 73 + 1 + 16 73 Held under repurchase agreements 36 8 33 - 6 Discounts and advances-- Member bank borrowings 453 + 100 724 Other 20 - 50 " 25 20 Float 1.739 + 199 1.744 Total Reserve Bank credit 43,130 + 68 +3,941 42,814 Gold stock 13,733 -295 -1,204 13,734 Treasury currency outstanding 5.648 - l + 251 5,656 62,511 + 2 +2,988 62^204 -294 Currency in circulation 41,283 + 87 +2,568 41,284 Treasury cash holdings 833 + 134 839 Treasury deposits with F. R. Banks 910 + 31 " 91 919 Foreign deposits with F. R. Banks 135 " 17 6 139 Other deposits with F. R. Banks 236 + 1 + 16 249 Other F. R. accounts (net) 745 + 32 - 4l3 875 44,143 +135 +2,209 44,305 Member bank reserves: With Federal Reserve Banks 18,368 -428 + 779 17,899 Currency and coin (estimated) 3,767 +213 +. 307 4.112 Total reserves held 22,135 -215 +l,C86 22,Oil Required reserves (estimated) 2i,8o4 -176 +1,C69 21,992 Excess reserves (estimated) 331 - 39 + 17 19 Cn February 16, 1966, U. S. Government securities held in custody by Federal Reserve Banks for foreign account were $7,838 million, a decrease of million for the week and a decrease of $196 million from the comparable date Digitizedy feoar FrR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.V.l(a) CONSOLIDATED SOMHSOT bf CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) , ,Chaftg£ sfoce Feb. 16, Feb. 9, Feb. 17, 1966 1966 1965 A S S E TS Gold certificate account 1111,,669944 - 2 -1,398 Redemption fund for F. R. notes 11,,772255 - 6 + 174 Total gold certificate reserves 13,419 - ~B -1,224 Cash (1,037) 188 + 16 + 18 Discounts and advances 744 + 301 + 515 Acceptances: Bought outright 73 -- + 16 Held under repurchase agreements 33 3 - 15 U. S. Government securities: Bought outright — Bills 8,842 • 457 +2,184 Certificates Notes 24,828 -._ - 84o Bonds 6,550 „ +1,756 Total bought outright 40,220 - 457 +3,100 Held under repurchase agreements „ - 387 - 166 ~B44 Total U. S. Government securities 40,220 +2,93+ ~W Total loans and securities 41,070 - +3,450 Cash items in process of collection (1,836) 7,551 +1, 313 + 708 Bank premises 102 -- -- Other assets 2=j 387 - 258 - 37 TOTAL ASSETS (2,873) 62,717 + 517 +2,915 L I A B I L I T I ES Federal Reserve notes (1,037) 36,340 1+1 +2, 474 Deposits: Member bank reserves 17,899 - 365 + 13 U. S. Treasurer--general account 919 ~ 6 + 142 Foreign. 139 - 3 + 3 Other 2/ 249 + 15 + 5+ Total deposits 19,206 - 359 + 212 Deferred availability cash items (1,836) 5,807 +1, 007 + 590 Other liabilities and accrued dividends 191 + 5 - 413 TOTAL LIABILITIES (2,873) 61,544 + 612 +2,863 C A P I T AL A C C O U N TS Capital paid in 556 -- f 27 Surplus 551 __ + 27 Other capital accounts 66 - 95 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,873) 62^717 + JT[ +2,9-15 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35*9$ -6.4$ Contingent liability on acceptances purchased for foreign correspondents 136 2 + 17 * 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 16. 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 721 51 1A99 -2,6o4 16 days to 90 days 23 55 10,087 +6,075 91 days to 1 year ** -- 13,991 -3,358 Over 1 year to 5 years «- -- 13A09 - 957 Over 5 years to 10 years -- 1,449 Over 10 years _- -- 385 Total Wi 106 40,220 BW ** Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY l6, 1966 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millionsJ of dollars) A S S E TS Gold certificate account 11,69k 666 2,207 782 1,066 1,159 711 2,382 427 216 395 295 1,388 Redemption fund for F. R. notes 1,725 98 412 91 146 144 97 315 64 32 67 57 202 Total gold certificate reserves 13^19 764 2,619 673 1,212 1,303 808 2,697 491 248 462 352 1,590 F.~ R* notes of other Banks 1,037 78 264 67 88 98 97 100 4l 29 33 63 79 Other cash 188 13 27 7 17 15 22 25 10 7 10 10 25 Discounts and advances 7kk 44 123 13 34 69 29 206 55 4 98 25 44 Acceptances: Bought outright 73 73 -- -- -- -- -- -- -- -- -- •*- Held under repurchase agreements 33 -- 33 -- -- -- -- -- -~ -- -- -- -- U. S« "Government securities: Bought outright™ Bills 8,8^2 465 2,185 453 727 6o4 496 1,460 328 192 353 369 1,210 Certificates -- -- " — -- -- -- -- -- -- -- -- -- Notes 2^828 1,305 6,135 1,271 2,04l 1,696 1,394 4,100 922 537 992 1,036 3,399 Bonds 6,550 344 1,619 335 539 448 368 1,081 243 142 262 273 896 Total ir0,220 2/114 9,939 2,059 3,307 2,748 2,258 6,641 1,493 871 1,607 1,678 5,505 Held under repurchase agreements -- -- - — -- -- -- -- - — -*- -- -- Total U. S. Government securities 40,220 2,114 9,939 2,059 3,307 2,748 2,258 6,64i 1,493 871 1,607 1,678 5,505 Total loans and securities 41,070 2,158 10,168 2,072 3,34l 2,817 2,287 6,847 1,548 875 1,705 1,703 5,549 Cash items in process of collection 9,387 580 1,720 554 692 742 776 1,679 447 289 566 468 874 Bank premises 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 387 17 128 18 29 21 21 52 12 7 16 17 49 TOTAL ASSETS- 65,590 3,613 14,935 3,594 5,384 5,001 4,031 11,420 2,556 1,458 2,799 2,623 8,176 l/ 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 BAM ON FEBRUARY l6, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In million£; of dollars) L I A B I L I T I ES Federal Reserve notes 37,377 2,238 8,474 2,202 3,190 3,352 2,171 6,796 1,425 694 1,408 1,181 4,246 Deposits: Member bank reserves 17,899 691 4,449 767 1,369 863 1,093 3,018 641 427 836 903 2,842 U. S. Treasurer--general account 919 1 44 107 54 62 120 76 65 80 62 52 79 118 Foreign 139 7 1/ 36 8 13 7 8 20 5 3 6 8 18 Other 249 1 2/173 2 6 1 2 1 1 4 1 57 Total deposits 19,206 743 4,765 831 1,444 996 1,178 3,105 727 493 898 991 3,035 Deferred availability cash items 7,643 565 1,3^3 489 630 579 602 1,319 357 239 434 376 710 Other liabilities and accrued dividends 191 1 10 46 9 15 13 10 30 6 s 7 8 32 TOTAL LIABILITIES 64,1+17 3,556 14,628 3,531 5,279 4,940 3,961 11,250 2,515 1,431 2,747 2,556 8,023 CAPITAL ACCOUNTS Capital paid in 556 27 145 30 50 29 33 80 19 13 25 32 73 S Ot u h r e p r l us c apital accounts 5 6 5 6 1 1 ! 2 3 7 1, 1 4 8 4 3 3 0 5 5 0 2 4 8 3 4 3 7 1 9 1 19 3 -> 13 1 24 3 32 3 72 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,590 3,613 1^935 3,59^ 5,384 5,001 4,031 11,420 2,556 1,458 2,799 2,623 8,176 Contingent liability on accept ances purchased for foreign correspondents 136 7 I/36 7 12 7 8 19 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 39,854 2,351 9,026 2,293 3, ^53 3,529 2,379 7,258 1,509 732 1,474 1,273 ^,577 Collateral for F. R. notes: Gold certificate account 6,660 440 1,000 500 600 888 550 1.-1C0 315 127 225 180 735 Eligible paper 65 11 5^ U. S. Government securities 34,638 l 945 8.200 1,900 2,950 2,678 1,900 6,4co 1,310 625 1,300 1,130 4,300 ? Total collateral ^1,363 2,385 9,200 2,411 3,550 3,566 2,450 7,5CO 1,679 752 1,525 1,310 5,035 1/ After deducting $103 million participations of other Federal Reserve Banks, •2/ Includes IMP gold deposit. *Less than $500,000. 3L/ After deducting $100 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis