H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•^0*GOVi F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 3, 1966 The average of daily figures of total member bank reserves held during the week ended March 2 decreased a net of $6 million to $22,098 million- Estimated currency and coin of member banks increased $138 million and their reserve balances at the Federal Reserve Banks decreased $lkh million. Estimated required reserves increased $89 million; and estimated excess reserves decreased $95 million to $292 million- Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $172 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 $72 million in U. S. Government securities bought outright, $67 million in Federal Reserve float, and $56 million in member bank borrowings. The principal offsetting change was a decrease of $36 million in Treasury deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $181 million. As of Wednesday, March 2, holdings of U. S. Government securities bought outright were $59 million higher than a week earlier and member bank borrowings were $8 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 2, Feb. 23, Mar. 3, Mar. 2, _. and related items 1966 1966 1965 1966 (In millions oi r dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account i+o,152 - 72 +3,317 1+0,059 Held under repurchase agreements -- -- - 76 -- Acceptances- Bought outright 73 - 1 + 19 73 Held under repurchase agreements 1+8 + Ik + 26 1+1 Discounts and advances— Member bank borrowings k6k - 56 + 19I+ 61+1+ Other 20 -- - 25 20 Float 1,971+ - 67 + 50 1,626 Total Reserve Bank credit te,73l -181 + 3,505 1+2,463 Gold stock 13,733 -- -1,169 13,73^ Treasury currency outstanding 5,669 + 9 + 269 5,668 62,133 -173 +2,605 61,865 Currency in circulation 1+1,230 + 11 +2,605 1+1,256 Treasury cash holdings 832 - 8 + 126 828 Treasury deposits with F. R. Banks 6I+5 - 36 - 277 737 Foreign deposits with F. R. Banks 135 + 6 - 24 154 Other deposits with F. R. Banks 236 + k + 19 238 Other F. R. accounts (net) 871 - 5 - 353 866 53,91+8 - 29 +2,095 kk, 079 Member bank reserves: With Federal Reserve Banks 18,185 -Ikk + 510 17,786 Currency and coin (estimated) .3,913 +138 + 1+52 1+.C63 Total reserves held 22,098 - 6 + 962 21,81+9 Required reserves (estimated) 21,806 + 89 + 882 22,007 Excess reserves (estimated) 292 - 95 + 80 -158 On March 2, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,7^9 million, a decrease of $138 million for the week and a decrease of $14-7-0 million from the comparable date a Digitized for FRASER year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESEI^E BANKS (In millions of dollars) UUXJ-CU. O J Change since M&r. 2, Feb. 23, Mar. 3, 1966 1965 A S S E TS Gold certificate account 11,709 + 15 -1,277 Redemption fund for F. R. notes 1,720 - 3 + 173 Total gold certificate reserves 13,429 + 12 -1,104 Cash (1,020) 189 + 3 + 26 Discounts and advances 664 + 8 + 6k Acceptances: + 18 Bought outright 73 + 10 + 6 Held under repurchase agreements 41 U. S. Government securities: Bought outright-- 8,638 + 59 +2,244 Bills Certificates Notes 24,871 - 826 Bonds 6,550 +1,704 Total Toought outright 40,059 + 59 +3,122 Held under repurchase agreements --_ - 36 Total U. S. Government securities 40,059 + 59 +3,086 Total loans and securities 40,837 + 77 +3,174 Cash items in process of collection (1,753) 6,992 +794 + 766 Bank premises . 102 Other assets i/ 462 + 52 + 28 TOTAL ASSETS (2,773) 62,011 +"938" +2,590 L I A B I L I T I ES Federal Reserve notes ~* (1,020) 36,300 - 64 +2,402 Deposits: Member "banic reserves +534 + 178 17,786 -141 - 121 U. 3. Treasurer—general account 737 + 25 + 11 Foreign 154 + 9 + 26 Other 2/ 238 +4"2T + 9^ Total deposits 18,915 +530 + 733 Deferred availability cash items (1,753) 5,366 + 16 - 404 Other liabilities and accrued dividends 198 +909 +2,825 TOTAL LIABILITIES (2,773) 60,779 C A P I T AL A C C O U N TS Capital paid in 557 + 1 + 25 Surplus 551 + 27 Other capital accounts 124 + 28 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,773) 62,011 +93%~ +2,890 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 36.0$ +.1$ - 6.0$ Contingent liability on acceptances purchased for foreign correspondents 135 — + 16 * 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, MARCH 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 Di£3 counts and Changes advances Acceptances Holdings during week Within 15 days 635 48 899 -237 16 days to 90 days 29 66 10,255 +403 91 days to 1 year #•* m *M 13,952 -107 Over 1 year to 5 years — 13,119 — Over 5 years to 10 years -- -- 1,449 — Over 10 years «.- _- 385 — Total 554" H4" 40,059 + 59 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF COKDITICW OF EACH FEDERAL RESERVE BANK ON MARCH 2, 1966 San New Phila- Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 11,709 606 2,759 675 1,087 1,136 616 2,188 399 163 4i8 468 l, 194 Redemption fund for F. R. notes 1,720- -92. 411 _9-l_ JLki. 3uL 3i5_ 64 _2i_ J2X. 56 202 Total gold certificate reserves 13,429 703 3,170 766 1,232 1,279 713 2,503 463 195 485 524 1,396 F. R. notes of other Banks 1,020 65 248 69 98 90 115 91 42 30 28 62 82 Other cash 189 13 28 9 16 14 24 27 10 6 9 9 24 Discounts and advances 664 38 71 18 10 88 43 235 59 16 35 29 22 Acceptances: bought outright 73 73 Held under repurchase agreements 4i 4i U. S. Government securities: "Bought outright-- Bills 8,638 449 2,132 455 713 589 490 l,461 313 190 329 324 1,193 Certificates Notes 24,871 1,293 6,139 1,308 2,054 1,696 1,412 4,208 901 548 948 930 3,434 Bonds 6,550 340 1,617 345 54i 447 372 1,108 237 144 249 245 905 Total 40,059 2,082 9,888 2,108 3,308 2,732 2,274 6," 777' 1,451 882 1,526 1,499 L~575B'2_ Held under repurchase agreements Total U. S. Government securities 40,059 2,082 __9,.888_ 2,108 3,308 2,732 2,274 6,777 1,451 882 1,526 1,499 5,532 Total loans and securities 40,837 2,120 10,073 2,126 3,318 2,820 2,317 7,012 1,510 898 l,56l 1,528 5,554 Cash items in process of collection 8,745 546 1,638 522 631 647 680 1,480 4i3 282 561 464 881 Bank premises 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets —I 462 21 144 23 37 26 24 65 15 12 19 18 58 TOTAL ASSETS 64,784 3,471 15,310 3,518 5,337 4,881 3,893 11,198 2,460 1,426 2,670 2,615 8,005 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 BANK ON MARCH 2, 1966 ! San New Phila Cleve- Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas j Fran- York delphia land mond Louis apolis City 1 cisco (in millions; of dollars) L I A B I L I T I ES Federal Reserve notes 37,320 2,232 8,474 2,191 3,175 3,358 2,165 6,783 1,420 693 1,403 1,177 4,249 Deposits: Member bank reserves 17,786 619 4,864 746 1,397 834 1,026 2,877 596 420 738 945 2,724 U.S. Treasurer--general ai c count 737 33 ,120 55 51 73 63 91 58 35 41 40 77 Foreign 154 7 8 13 7 9 21 5 4 6 8 19 Other 2^8 * 2/l69 2, * , 8 1 ? 1 * ? 50 Total deposits 18,915 659 5,200 811 l,46l 922 1,099 2,991 660 459 788 995 2,870 Deferred availability cash items 7,H9 510 1,267 441 575 523 545 1,212 331 240 417 367 691 Other liabilities and acen jed dividends 108 10 48 9 16 12 11 ^2 7 5 8 7 TOTAL LIABILITIES | 63,552 3,411 14,989 3,452 5,227 4,815 3,820 11,018 2,4l8 1,397 2,6l6 2,546 7,843 CAPITAL ACCOUNTS Capital paid in 557 27 145 30 50 29 34 80 19 13 25 32 73 Surplus 1 551 i 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 1 124 6 32 6 10 9 21 4 3 5 5 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS [ 64,784 i 3,471 15,310 3,518 5,337 4,88j^_ 3,893 11,198 2,46o 1,426 2,670 2,615 8,005 Contingent liability on ace; eptances purchased for forej- gn correspondents 135 7 3/35 7 _ 12 7 8 19 5__ !_ 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F.R. notes outstanding 39,772 2,351 9,011 2,286 3,447 3,530 2,357 7,223 1,502 730 1,482 1,267 4,586 Collateral for F. R. notes: Gold certificate account 6,660 440 1,000 500 600 888 550 1,100 315 127 225 180 735 Eligible paper 75 17 58 U. S. Government securities 34,637 1,945 8,200 1,900 2,950 2,677 1,900 6,4oo 1,310 625 1,300 1,130 4,300 Total collateral 41,372 2,385 9,200 2,417 3,550 3,565 2,450 7,500 1,683 752 1,525 1,310 5,035 l/ After deducting $ 107million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $ 100million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis