H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•&2g&U.: 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 17, 1966 The average of daily figures of total member bank reserves held during the week ended March 16 increased a net of $4 million to $22,068 million. Estimated currency and coin of member banks increased $179 million and their reserve balances at the Federal Reserve Banks decreased $175 million. Estimated required reserves increased $70 million; and estimated excess reserves decreased $66 million to $311 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $225 million, compared with the revised net borrowed figure of $237 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $78 million in member bank borrowings, $73 million in U. 3. Government securities bought outright, and $38 million in Federal Reserve float, and increases of $l6l million in currency in circulation and $23 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $^7 million in U. S. Government securities held under repurchase agreements and decreases of $83 million in Treasury deposits with Federal Reserve Banks and $55 million in other F. R. accounts (net). Total Reserve Bank credit decreased $139 million. As of Wednesday, March l6, holdings of U. S. Government securities bought outright were $12 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $^9 million higher, and member bank borrowings were $372 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 16, Mar. 9, Mar. 17, Mar. l6, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account ^0,352 - 73 +3,0*4 1+0,362 Held under repurchase agreements ^7 + 47 - 16 49 Acceptances— Bought outright 75 + 2 + 21 16 Held under repurchase agreements 77 + 2 3 155 Discounts and advances-- Member bank borrowings 536 - 78 + 166 114 Other 20 + 2 20 Float - 38 + 144 1,746 Total Reserve Bank credit 42,848 -139 +3,364 1+2,522 Gold stock 13,733 -1,008 13,73^ Treasury currency outstanding 5,685 + 8 + 288 5,703 62,266 -130 +2,644 61,959 Currency in circulation 4i,48o +161 +2,586 4l,544 Treasury cash holdings 822 - 7 + 105 817 Treasury deposits with F. R. Banks 346 - 83 - 566 227 Foreign deposits with F. R. Banks 180 + 23 + 48 146 Other deposits with F. R. Banks 247 + 6 + 56 271 Other F. R. accounts (net) 813 - 55 - 248 756 43,888 + 45 +1,981 43,761 Member bank reserves: With Federal Reserve Banks 18,378 -175 + 664 18,198 Currency and coin (estimated) 3.690 +179 + 236 4,064 Total reserves held 22,068 + 4 + 900 22,262 Required reserves (estimated) 21,757 + 70 + 9l4 22,233 Excess reserves (estimated) 311 - 66 - 14 29 On March 16, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,794 million, a decrease of $8 million for the week and a decrease of $317 million from the comparable date a Digitized fvore FaRrA SaEgRo . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS Change since • M ar. 16, Mar• 9, Mar. 17, 1966 1966 1965 A S S E TS Gold certificate account 11,716 + 9 -1,007 Redemption fund for F. R. notes 1,713 - 4 + 160 Total gold certificate reserves 13,^29 + 5 - 847 Cash (9k) 198 - 3 + 47 Discounts and advances 131* 372 - 273 •- Acceptances: Bought outright 76 + 3 + 21 Held under repurchase agreements 155 + 82 + 63 U. S. Government securities: Bought outright— Bills 8,909 f 12 +2,168 Certificates 1 _- + 1 Notes 24,891 -- - 813 Bonds 6,561 — +1,698 Total bought outright 40,362 + 12 +3,054 Held under repurchase agreements 49 + 49 - 47 Total U. S. Government securities ^07411 + -%1 +3,007 Total loans and securities 40,776 - "225 +27BI5 Cash items in process of collection (1,967) 7,805 +1, 915 + 116 Bank premises . 102 *»• Other assets =J 520 + 21 - 46 TOTAL ASSETS (2,909) 62,830 +1,712 +270BH L I A B I L I T I ES Federal Reserve notes (942) 36,551 + 31 +2,457 Deposits: Member hank reserves 18,198 + 510 + 652 U. S. Treasurer—general account 227 - 224 - 872 Foreign. 146 - 36 3 Other £/ 271 + 19 + 81 Total deposits 18,8^*2 + "2o*9 - 14*2 Deferred availability cash items (1,967) 6,059 +1,487 + 85 Other liabilities and accrued dividends 193 - 2 - 372 TOTAL LIABILITIES (2,909) 61,645 +1, 785 +2,028 C A P I T AL A C C O U N TS Capital paid in 558 1 + 24 Surplus 551 — + ZJ Other capital accounts 76 - 74 + 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,909) 627830 +1,712 +2,088 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 35. - 5-: Contingent liability on acceptances purchased for foreign correspondents 127 - 8 + 7 * 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 l6. 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. So Government securities Discounts and •Changes advances A—ccemptan—ces Holdings during week Within 15 days 123 904 + 72 16 days to 90 days 11 65 10,374 + 3 91 days to 1 year #* -- 14,179 - 15 Over 1 year to 5 years — — 13,264 +145 Over 5 years to 10 years -- -- 1,305 -Ikh Over 10 years — -- 385 Total 135 231 40,411 +~oT Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH l6, 1966 San New Phila CIeve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City i cisco (In millions; of dollars) A S S E TS Gold certificate account 11,716 622 2,773 612 1,051 1,130 524 2,152 392 219 430 451 1,360 Redemption fund for F. R. notes 1,713 98 409 92 145 i4o 96 314 64 31 66 57 201 Total gold certificate reserves 13,429 720 3,182 704 1,196 1,270 620 2,466 456 250 496 508 l,56l F. R. notes of other Banks 9U2 53 24l 57 85 83 114 84 35 21 31 65 73 Other cash 198 lit- 29 9 18 14 23 28 12 6 9 10 26 Discounts and advances' 13U •7 10 6 11 •- 7 29 n r 29 12 ), 1 Acceptances: Bought outright 76 76 -- -- -• -- -- -- Held under repurchase agreements 155 155 U. S. Government securities: Bought outright-- Bills i 8,909 463 2,220 468 736 607 505 1,507 322 176 34c 334 1,231 Certificates 1 # 2/1 * * * * * * * # -* * Notes 24,891 1,294 6,202 1,310 2,056 1,697 1,413 4,211 902 490 948 931 3,437 Bonds 6.56l 341 1.634 ^45 542 448 373 1.110 2^8 129 250 245 906 Total ko,362 2,098 10,057 2,123 3,334 2,752 2,291 6,828 1,462 795 1,538 1,510 5,574 Held under repurchase agreements 49_ -- 49 -- -- -- -~ -_^ -- -- " -- -- Total U. S. Government securities ko. 4n 2, 098 10.106 2.123 3.334 2.752 -EJSSJL. 6.828 1,462 795 . 1,538. 1.510 5.574 Total loans and securities ko,776 2,105 10,347 2,129 3,345 2,759 2,298 6,857 1A69 8CC 1,567 1,522 5,578 Cash items in process of collection 9,772 601 1,817 566 735 746 782 1,729 46i 295 597 483 960 Bank premises 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 520 24 163 27 4i 29 28 73 17_ 10 21 22 65 TOTAL ASSETS 65,739 3,520 15,788 3,495 5,425 4,906 3,885 11,257 2,457 1,385 2,728 2,620 8,273 l/ 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 16, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions; of dollars) L I A B I L I T I ES Federal Reserve notes 37,493 2,234 8,494 2,203 3,183 3,362 2,171 6,819 1,423 697 1,409 1,182 4,316 Deposits: Member bank reserves 18,198 634 5,086 725 1,425 840 997 2,775 618 395 799 952 2,952 U.S. Treasurer--general account 227 2 191 3 2 2 2 3 3 2 3 2 12 Foreign 146 7 8 13 7 9 21 5 4 6 8 19 Other 271_ 1 2/189 1 7 7 2 1 1 * 3 1 58 Total deposits 18,842 644 5,505 737 1,447 856 1,010 2,800 627 401 811 963 3,041 Deferred availability cash items 576 1,431 482 673 613 622 1,435 359 255 445 399 736 8,026 Other liabilities and accrued dividends 9 5.2_ 10 16 13 11 3k_ 7 4 I_ 8 25 193 TOTAL LIABILITIES 64,554 3,463 15,482 3,432 5,319 4,844 3,814 11,085 2,4l6 1,357 2,672 2,552 8,118 CAPITAL ACCOUNTS Capital paid in 558 27 145 30 50 29 34 80 19 13 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 76 3 17 3 6 5 4 13 3 2 7 3 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _6^I32_ 3,520 15,788 3^95 5,425 4,906 3; 885 11,257 2^57 1.385 2,728 2,620 8,273 Contingent liability cn accept ances purchased for foreign c orre spondent s 127 6 V 33 J_ 11 I_ 8 18 4 3_ 6 7 1? FEDERAL RESERVE AGENT'S ACCOUNTS F-. R. notes outstanding 2,348 8,999 2,285 3,439 3,531 2,346 7,205 1,508 731 1,490 1,281 4,600 Collateral for F. R. notes: Gold certificate account 440 1,000 500 600 888 500 1,100 315 127 225 180 735 Eligible paper 3 6 U- S. Government securities 1.94S 8.200 1,900 2.950 2.677 1.900 6,400 625 1,300 1.1^0 4.-^00 1,310 Total collateral 2,385 9,200 2,403 3,550 3,565 2,400 7,500 1,631 752 1,525 1,310 5,035 1/ After deducting $107million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 1/ After deducting $ 94million participations of ether Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis