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 Condition Statement of F.R. Banks For immediate release March 10, 1966 The average of daily figures of total member "bank reserves held during the week ended March 9 decreased a net of $30 million to $22,082 million. Estimated currency and coin of member "banks decreased $398 million and their reserve balances at the Federal Reserve Banks increased $368 million. Estimated required reserves decreased $1^0 million; and estimated excess reserves increased $110 million to $395 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $219 million, compared with the revised net borrowed figure of $179 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $273 million in U. S. Government securities bought outright and $150 million in member bank borrowings, and a decrease of $2l6 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $195 million in Federal Reserve float and an increase of $89 million in currency in circulation. Total Reserve Bank credit increased $256 millloa. As of Wednesday, March 9, holdings of U. S. Government securities bought outright were $291 million higher than a week earlier and member bank borrowings were $158 million lower. Outright holdings of bills, certificates, notes, and bonds increased $259 million, $1 million, $20 million, and $11 million, respectively. Averapei s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 9, Mar. 2, i Mar. 10, Mar. 9, and related items 1966 1966 1 1965 1966 (In 1l1i llicns of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 4o,425 +273 +3,214 40,350 Held under repurchase agreements - 108 Acceptances-- Bought outright 73 + 18 73 Held under repurchase agreements 75 + 27 + 24 73 Discounts and advances— Member bank borrowings 6l4 +150 + 229 486 Other 20 - 21 20 Float 1,779 -195 + 155 1,318 Total Reserve Bank credit 42,987 +256 +3,512 42,320 Gold stock 13,733 -1,080 13,73^ Treasury currency outstanding %677 + 8 + 283 5,679 62,396 +263 +2,714 61,733 Currency in circulation 4l,319 + 89 +2,563 41,474 Treasury cash holdings 829 - 3 + ll4 834 Treasury deposits with F. R. Banks 429 -216 - 377 451 Foreign deposits with F. R. Banks 157 + 22 + 7 182 Other deposits with F. R. Banks 24l + 5 + 32 252 Other F. R. accounts (net) 868 - 334 852 ^3,81+3 -105 +2,006 44,045 Member bank reserves: With Federal Reserve Banks 18,553 +368 + 709 17,688 Currency and coin (estimated) 3,529 -398 + 311 3.878 Total reserves held 22,082 - 30 +1,020 21,566 Required reserves (estimated) -l4o + 992 21,658 21,687 Excess reserves (estimated) 395 +110 + 28 -92 On March 9, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,802 million, an increase of $53 million for the week and a decrease of $379 million from the comparable date a. vpa.r asm. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change .since. Mar. 9, Mar. 2, Mar. 10, 1966 1966 1965 A S S E TS Gold certificate account 11,707 2 -1,279 Redemption fund for F. R. notes 1,717 3 + 175 Total gold certificate reserves -1,104 13,424 Cash (9&T) 201 + 12 + 49 Discounts and advances 506 - 158 + 69 Acceptances: Bought outright 73 + 18 Held under repurchase agreements 73 + 13 U. S. Government securities: Bought outright— Bills 8,897 + 259 +2,229 Certificates 1 + 1 + 1 Notes + 20 - 806 24,891 Bonds + 11 +1,715 6,561 Total bought outright 40,350 + 291 +3,139 Held under repurchase agreements - 62 Total U. S. Government securities 40,350 + 291 +3,071 Total loans and securities 41,002 + 165 +3,177 Cash items in process of collection (1,393) 5,890 -1,102 + 5^2 Bank premises / 102 Other assets -> 4_99 + 37 - 4 TOTAL ASSETS (2,3*K>) 61,118 ^"593 +2,660 L I A B I L I T I ES Federal Reserve notes (947) 36,520 + 220 +2,433 Deposits: Member bank reserves 17,688 - 98 U. S. Treasurer—general account 451 - 286 Foreign , + 28 182 Other =/ + 14 252 Total deposits - 342 18,573 Deferred availability cash items (1,393) 4,572 - 794 + 466 Other liabilities and accrued dividends 195 Z 3 - 410 TOTAL LIABILITIES (2,3^0) +2,595 59,860 - 919 C A P I T AL A C C O U N TS Capital paid in 557 + 25 Surplus 551 + 27 Other capital accounts 150 26 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,340) 61,118 "893 +2,66"0 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35- - 6. Contingent liability on acceptances purchased for foreign correspondents 16 135 * 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. ZJIncludes IMF gold deposit- MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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. Govevnment_ securities Discounts and Changes during week advances Acceptances Holdings. Within 15 days ^93 86 832 - 67 16 days to 90 days 13 60 10,371 +116 91 days to 1 year ** -- 1k igk +242 9 Over 1 year to 5 years -- -- 13,H9 Over 5 years to 10 years „ — l,kh9 Over 10 years — _- 385 Total 506 146 So,350 +29-1 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 MARCH 9, 1966 San Total Bos ton New Phila Cleve- Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions5 of dollars) A S S E TS Gold certificate account 11,707 692 2,372 623 1,021 1.135 582 2,135 456 I67 465 444 1,615 Redemption fund for F. R. nc)t es 1,717 99 4io 91 l45 l42 _ _22 315 63 31 66 56 202 Total gold certificate recs erves I3,te4 791 2,782 Ilk 1,166 1,277 679 2,450 519 198 531 500 1,817 F. R. notes of other Banks 9j+7 55 242 60 88 85 110 82 36 26 30 63 70 Other cash 201 15 29 10 18 15 24 28 12 6 9 11 24 Discounts and advances 506 k6 82 6 4 51 58 82 18 20 76 24 39 Acceptances: Bought outright 73 — 73 -- -- -- -- -- -- -- -- -- -- Held under repurchase agreements 73 73 U. S. Government securities: Bought outright-- 2A Bills 8,897 462 £i 468 735 607 505 1.505 322 196 339 333 1,229 Certificates 1 * * # # # * * # # * •* Notes 2M91 1 ,294 6,ikk 1.310 2,056 1.697 1.413 4,211 902 548 948 931 3,437 Bonds 6,561 34i 1,619 345 542 448 373 .1.110 2^8 144 2S0 245 QO6 Total ^0,350 2 ,097 9^960 2,123 3.333 2.752 2,291 6,826 1,462 see 1,537 1,509 5,572 Held under repurchase agrec ements _- - -. ». - - - - - - - — — Total U. S. Government secui• 'ities hO,350 2 ,097 9.960 2,123 3,333 2,752 2,291 6,826 1,462 888 1,537 1,509 5,572 Total loans and securities 1+1,002 2. , 1*6 10,188 2,129 3.337 2,803 2,349 6,908 l,48o 908 1.613 1,533 5,6ll Cash items in process of collection 7.283 ^79 1,288 453 484 572 613 1.173 365 232 480 391 753 Bank premises 102 •3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 499 23 155 27 38 27 26 m_ 16 12_ 21 ... 21 63 ... TOTAL ASSETS 63,458 3,5 09 1^.693 3.396 5.136 4,784 3,821 10,731 2.435 1.385 2,691 2,529 8,348 1/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. 2/ Rounding adjustment. 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 9, 1966 1 i San Total Boston New Phila Cleve Rich Atlanta Chicago st. Minne- Kansas | Dallas Fran York delphia land mond Louis apolis1 City 1 cisco (In millions; of dollars) L I A B I L I T I ES Federal Reserve notes 37,467 2,233 8,492 2,196 3,181 3,370 2,178 6,807 1,425 696 1,409 1,181 4,299 Deposits: Member bank reserves 17,688 720 4,537 743 1,332 812 1,021 2,625 611 428 809 902 3,148 U.S. Treasurer--general account 451 22 33 35 49 38 31 45 33 38 39 ' 34 Foreign 182 8 1/ 60 9 15 8 10 24 6 4 7 9 22 Other .252 * 2/177 1 * 8 1 1 # 1 3 l 59 Total deposits 18,573 750 4,828 786 1,382 877 1,070 2,681 662 466 857 951 3,263 Deferred availability cash items 5,965 455 995 337 445 457 488 1,026 298 189 363 319 593 Other liabilities and accrued dividends 195 10 50 10 16 13 10 32 7 5 7 8 . 27 TOTAL LIABILITIES 62,200 3,448 14,365 3,329 5,024 4,717 3,746 10, 546 2,392 1,356 2,636 2,459 8,182 CAPITAL ACCOUNTS Capital paid in 557 27 145 30 50 29 34 80 19 13 25 32 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 3 1 72 Other capital accounts 150 7 39 7 12 10 26 5 .. ..3... 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 63,45.8 .-2*502-_l^693_ 3,396 .5,136,, 4,784 _3,821 10,731 2,435 _iz38i_. 2,693^, 2,529 8,34.8... Contingent liability on accept ances purchased for foreign c orre sp cndent s 1.35 7 3/ 35 T_ 12 1_ 8 li 5_ 3_ 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,999 2,281 3,^37 3,542 2,349 7,205 1,500 726 1,481 1,274 4,583 Collateral for F. R. notes: Gold certificate account 1,000 500 600 888 500 1,100 315 127 225 180 735 Eligible paper 5 17 U. S. Government securities 8,200 1,900 2,950 2,677 1,900 6,400 625 1,300 1,130 4, SCO Total collateral 9,200 2,405 3,550 3,565 2,4oo 7,500 1,642 752 1,525 1,310 5,035 l/ After deducting $122 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 2/ After deducting $100 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis