H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•'•isMafe-. 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 24, 1966 The average of daily figures of total member bank reserves held during the week ended March 23 increased a net of $252 million to $22,370 million. Estimated currency and coin of member banks decreased $26 million and their reserve balances at the Federal Reserve Banks increased $278 million. Estimated required reserves increased $27^ million; and estimated excess reserves decreased $22 million to $328 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $27^ million, compared with the revised net borrowed figure of $186 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $3^6 million in Federal Reserve float, $66 million in member bank borrowings, $2^ million in Treasury currency outstanding and $17 million in acceptances held under repurchase agreements, and decreases of $13^million in other F. R. accounts (net), $ifO million in foreign deposits with Federal Reserve Banks, and $21 million in currency in circulation. The principal offsetting changes were decreases of $47 million in U. S. Government securities held under repurchase agreements, $4l million in U. S. Government securities bought outright and $29 million in gold stock, and increases of $160 million in Treasury deposits with Federal Reserve Banks, $56 million in "other" deposits with Federal Reserve Banks, and $4l million in Treasury cash holdings. Total Reserve Bank credit in creased $3^+5 million. As of Wednesday, March 23, holdings of U.S. Government sec urities bought outright were $168 million higher than a week earlier, U.S. Govern ment securities held under repurchase agreements were $^9 million lower, and member bank borrowings were $565 million higher. Outright holdings of bills,certificates, notes,and bonds increased $112 million,$11 million,$35 millicn^and $10 million. Memoer bank reserves, weeK ended Change irom ween endeu Wednesday, Reserve Bank credit, Mar. 23, Mar. 16, Mar. 24, Mar. 23, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 40,311 - 41 +3,006 40,530 Held under repurchase agreements -- - 47 --' " Acceptances- Bought outright 77 + 2 23 76 Held under repurchase agreements 94 + 17 4o 153 Discounts and advances-- Member bank borrowings 602 + 66 + 139 679 Other 21 + 1 + 2 20 Float 2,087 +346 + 82 1,772 Total Reserve Bank credit 43,193 +345 +3,293 43,230 Gold stock 13,704 - 29 - 858 13,634 Treasury currency outstanding 5,709 + 24 + 316 5.716 62,606 +340 +2,750 62,580 Currency in circulation 4l,459 - 21 +2,663 4i,456 Treasury cash holdings 863 + 4i + 128 889 Treasury deposits with F. R. Banks 506 +160 \ 450 433 Foreign deposits with F. R. Banks i4o - 40 + 1 136 Other deposits with F. R. Banks 303 + % + 117 310 Other F. R. accounts (net) 679 -134 - 301 657 43,950 + 62 +2,158 43,881 Member bank reserves: With Federal Reserve Banks 18,656 +278 + 592 18,699 Currency and coin (estimated) 3,7l4 - 26 + 266 4.115 Total reserves held 22,370 +252 + 858 22,8l4 Required reserves (estimated) 22,042 +274 + 984 21,992 Excess reserves (estimated) 328 - 22 - 126 822 On March 23, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,713 million, a decrease of $8l Digitized fomri FlRlAiSoERn for the week and a decrease of $201 million from the comparable date a http://fraser.stlouisfed.org/ •\T&nir nan. Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS V JLU W4.i.XJLWID \J± Change since Mar. 23, Mar. 16, Mar. 24, 1966 1966 1965 A S S E TS Gold certificate account 11,552 -164 -1,169 Redemption fund for F. R. notes 1,712 - 1 + 165 Total gold certificate reserves 13,264 -165 -1,004 * Cash (970) 202 + 4 + 53 Discounts and advances 699 +565 + 457 Acceptances: Bought outright 76 -- + 21 Held under repurchase agreements 153 - 2 + 79 U. S. Government securities: Bought outright-- Bills 9,021 +112 +2,287 Certificates 12 + 11 + 12 Notes 24,92b + 35 - 778 Bonds 6,571 + 10 +1,708 Total bought outright W/530 +158" +3,229 Held under repurchase agreements -- - 49 -- Total U. S. Government securities 40,530 +119 +3,229 total loans and securities 41,458 +552 +17FB5 Cash items in process of collection (1,768) 6,971 -834 +1,295 Bank premises 102 -- -- Other assets i/ 646 +126 - 60 TOTAL ASSETS (2,738) ^27^3 -187 +4,070 L I A B I L I T I ES Federal Reserve notes (970) 36,^61 - 90 +2,496 Deposits: Member "bank reserves 18,699 +501 +1,409 U. S. Treasurer--general account 433 +206 - 569 Foreign 136 - 10 + 14 Other £/ (111) 321 + 50 + 147 Total deposits (111) 19,589 +747 +1,001 Deferred availability cash items (1,657) 5,188 -871 + 880 Other liabilities and accrued dividends 193 -- - 370 TOTAL LIABILITIES (2,738) 61,431 -214 +4,007 C A P I T AL A C C O U N TS Capital paid in 559 + 1 + 23 Surplus 551 — + 27 Other capital accounts 102 + 26 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,738) 62,6^3 -I87 +4,070 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35-M° "-M0 ~ 5*8$ Contingent liability on acceptances purchased for foreign correspondents 129 + 2 +1 * Figures in parentheses are the eliminations made in the consolidating process; I see comparable figures on combined basis on the following pages, ^/includes assets denominated in foreign currencies and IMF gold deposited. -' Includes IMF gold deposit. _ _ _ _ _ _ _ __ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 23, 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 advance> s Acceptances Holdings during week Within 15 days 675 164 815 - 89 l6 days to 90 days 2k 65 10,451 + 77 91 days to 1 year — — 14,301 +122 Over 1 year to 5 years — -- 13,273 + 9 Over 5 years to 10 years -- -- 1,305 -- Over 10 years — — 3^8 5 — Total £99 229 40,530 +119 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 23, 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 11,552 683 3,002 590 855 1,046 446 1,817 367 255 395 465 1,631 Redemption fund for F. R. notes 1,712 98 409 92 144 139 96 3l4 64 31 67 57 201 Total gold certificate reserves 13,26U 781 3,411 682 999 1,185 542 2,131 431 286 462 522 1,832 F. R. notes of other Banks 970 58 242 58 89 87 120 80 4o 21 30 62 83 Other cash 202 15 28 10 20 14 22 30 12 6 9 10 26 Discounts and advances 699 29 222 6 22 9 34 221 26 16 56 26 32 Acceptances: Bought outright 76 -- 76 -- -- " -- -- -- -- -- — -- Held under repurchase agreements 153 -- 153 -- — -- -- -- -- -- U. S. Government securities: Bought outright-- Bills 9,021 468 2,248 474 745 615 512 1,526 327 178 344 338 1,246 Certificates 12 l 3 1 1 1 1 2 * * # * 2 Notes 2l*,926 1,295 6,211 l,3H 2,059 1,700 1,415 4,217 903 491 950 932 3,442 Bonds 6.571. ^42 1.637 ^46 543 448 rn 1,112 238 129 250 246 907 Total 40,530 2,106 10,099 2,132 3,348 2,764 2,301 6,857 1,468 798 1,544 1,516 5,597 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- — Total U, S. Government securities 40.5^0 2.106 _10.099. 2.132 3,348 2.764 2,, 301 .. 6,857 1.468 798 1.544 1,516 5,597 Total loans and securities 41,458 2,135 10,550 2,138 3,370 2,773 2,335 7,078 1,494 8l4 1,600 1,542 5,629 Cash items in process of collection 8,739 607 1,544 554 577 731 715 1,369 412 328 558 475 869 Bank premises 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 646 27 247 31 46 32 . 31 81 18 12 24 24 73 TOTAL ASSETS 65,381 3,626 16,031 3,476 5,106 4,827 3,785 10,789 2,4i4 1,470 2,690 2,645 8,522 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN MARCH 23, 1966 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions3 of dollars) L I A B I L I T I ES Federal Reserve notes 37,431 2,233 8,490 2,205 3,178 3,354 2,155 6,814 1,420 697 1,405 1,183 4,297 Deposits: Member hank reserves 18,699 730 5,347 722 1,287 800 959 2,644 619 503 822 995 3,271 U.S. Treasurer--general account 433 2 4oo 3 2 2 3 2 2 * 12 2 3 Foreign 136 6 !/ 37 7 12 7 8 19 5 3 6 8 18 Other 432 2 2/258 2 3 8 4 23 3 61 7 S8 Total deposits 19,700 740 6,042 734 1,304 817 974 2,688 629 567 847 1,008 3,350 Deferred availability cash items 6,845 584 1,135 463 500 579 573 1,078 316 171 378 378 690 Other liabilities and accru ed dividends i 193 10 49 9 16 13 10 32 7 6 7 8 26 TOTAL LIABILITIES :64,169 3,567 15,716 3,411 4,998 4,763 3,712 10,612 2,372 l,44l 2,637 2,577 8,363 CAPITAL ACCOUNTS Capital paid in 1 559 \ 27 146 30 50 22 34 80 19 13 IE 33 73 Surplus 1 551 27 144 30 50 33 79 19 13 32 72 28 Other capital accounts ! 102 ! 5 25 5 8 7 6 18 4 3 4 3 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 165,381 3,626 _l6tP.3l_ 3,476 5,106 _J-,827 3,785 10,789 _2,Ja4_ 1,470 _j?,69C)_ 2,645 8,522 Contingent liability on acce ptances purchased for forei gn correspondent s _.. 129 6 I/34 I_ 12 7_ 8 18 4 3_ 6 7_ 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,014 2,303 3,428 3,527 2,352 7,194 1,501 728 1,489 1,276 4,605 Collateral for F. R. notes: Gold certificate account 1,000 500 600 888 425 1,100 315 127 225 180 735 Eligible paper 2 25 6,4oo U. S. Government securities 8,200 1,900 2,95Q 2,677 1,975 625 1,300 1,130 4,300 1,310 Total collateral 9,200 2,402 3,550 3,565 2,400 7,500 1,650 752 1,525 1,310 5,035 1/ After deducting $ 99 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3_/ After deducting $ 95 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis