H.4.1 Factors Affecting Reserve Balances of Depository Institutions

O* G°V'^. 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 Mar. 31, 1966 The average of daily figures of total member bank reserves held during the week ended March 30 decreased a net of $228 million to $22,166 million. Estimated currency and coin of member banks increased $112 million and their Reserve balances at the Federal Reserve Banks decreased $3^0 million. Estimated required reserves decreased $13*+ million; and estimated excess reserves decreased $9^ million to $279 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $229 million, the same as the revised net borrowed figure of $229 million the week before. The principal changes reducing average reserve balances with Federal Res erve Banks were decreases of $3^+6 million in Federal Reserve float, $9^ million in member bank borrowings, and $72 million in gold stock,and increases of $73 million in Treasury cash holdings, $73 million in "other" deposits with Federal Reserve Banks, and $5^4- million in Treasury deposits with Federal Reserve Banks. The prin cipal offsetting changes were an increase of $194 million in U. S. Government sec urities bought outright, and decreases of $111 million in currency in circulation and $69 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $277 million. As of Wednesday, March 30, holdings of U. S. Government securities bought outright were $3^ million lower than a week earlier and member bank borrowings were $100 million lower. Average; s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 30, Mar. 23, Mar. 31, Mar. 30, and related items 1966 1966 1965 1966 (In nl illions of cl ollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 4o,505 +194 +3,io4 40,496 Held under repurchase agreements -- -- - 18 Acceptances-- Bought outright 77 — 23 76 Held under repurchase agreements 65 - 29 28 54 Discounts and advances-- Member bank borrowings 508 - 9h + 21 579 Other 20 - l + 5 20 Float l,74l -346 + 365 1,388 Total Reserve Bank credit 42,916 -277 ,-3>72 42,613 Gold stock 13,632 - 72 - 930 13,634 Treasury currency outstanding 5,734 + 25 + 337 5,736 62,282 -324 +2,879 61,983 Currency in circulation 4i, 348 -111 +2,634 41,435 Treasury cash holdings 936 + 73 + 190 940 Treasury deposits with F. R. Banks 560 + 54 - 338 546 Foreign deposits with F. R. Banks 135 - 5 11 142 Other deposits with F. R. Banks 376 + 73 + 195 371 Other F. R. accounts (net) 610 - 69 - 265 6C8 43,965 + 15 +2,405 44,042 Member bank reserves: With Federal Reserve Banks 18,316 -3^0 + 473 17,941 Currency and coin (estimated) 3,850 +112 + 327 4,131 Total reserves held 22,166 -228 + 800 22,072 Required reserves (estimated) 21,887 -13^ + 887 21,953 Excess reserves (estimated) 279 - 9I4. - 87 119 On March 30, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,638 million, & decrease of $75 million for the week and a decrease of $103 million from the comparable date a Digitized for FRASER http://frasevrp.sfltl.oru isafe.dff.oor.g / Federal Reserve Bank of St. Louis

H.4*1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar. 30, Mar. 23, Mar. 31, 1966 1966 1965 A S S E TS Gold certificate account 11,491 - 6l -1,255 Redemption fund for F. R. notes 1,713 +1 + 166 Total gold certificate reserves 13,204 - 60 -1,089 Cash (997) 210 +8 + 66 Discounts and advances 599 -ICO + 475 Acceptances: Bought outright 76 — + 21 Held under repurchase agreements 54 "99 - 34 U. S. Government securities: Bought outright— Bills 8,987 - 3^ +2,l6l Certificates 12 -- + 12 Notes 24,926 — - 780 Bonds 6,571 — +1,643 Total bought outright 40,496 - 34 +3,036 Held under repurchase agreements — -- - 131 Total U. s. Government securities 40,496 - 34 +2,905 Total loans and securities 41,225 -233 +3,367 Cash items in process of collection (1,748) 6,206 -765 + 829 Bank premises . 102 Other assets i/ 725 +79 - 12 TOTAL ASSETS (2,7^5) 61,672 ^971 +3A5T L I A B I L I T I ES Federal Reserve notes (997) 36,419 - 42 +2,4l6 Deposits: Member hank reserves 17,94l -758 + 664 U. S. Treasurer--general account 546 +113 - 321 Foreign 142 +6 - 20 Other 2/ 371 + 50 + 175 Total deposits 19,000 -589 + W)8 Deferred availability cash items (1,748) 4,8l8 -370 + 555 Other liabilities and accrued dividends 195 +2 - 372 TOTAL LIABILITIES (2,745) 60,432 ^999 +3,097 C A P I T AL A C C O U N TS Capital paid in 560 +1 + 24 Surplus 55! „ + 27 Other capital accounts 129 +27 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,745) 517672 ^971 +3,161 Ratio of gold certificate reserves to F. R. note ~ liability (computed from figures as shown on the following pages—not consolidated) 35-3$ -.1$ - 6.0$> Contingent liability on acceptances purchased for foreign correspondents 129 — 5 * Figures in parentheses are the eliminations made in the consolidating process; / 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 30, 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 578 66 T06 -109 16 days to 90 days 21 64 10,991 +5^0 91 days to 1 year 13,836 -kG5 Over 1 year to 5 years 13,273 — Over 5 years to 10 years 1,305 -- Over 10 years 385 -- Total 599 I30 ^0,496 ^35 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OR MARCH 30, 1966 r San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas ) Fran York delphia land mond Louis apolis City 1 cisco (In millions; of dollars) A S S E TS Gold certificate account 11,491 704 2,545 612 978 1,145 452 1,960 363 233 431 465 1,603 Redemption fund for F. R. notes 1,713 98 407 92 144 139 101 313 63 31 67 57 201 Total gold certificate reserves 13,204 802 2,952 704 1,122 1,284 553 2,273 426 264 498 522 1,804 F. R. notes of other Banks 997 64 246 64 91 82 126 83 43 22 34 61 81 Other cash 210 15 29 11 24 14 23 31 13 6 9 10 25 Discounts and advances 599 39 206 12 10 33 16 190 33 9 36 12 3 Acceptances: Bought outright 76 " 76 -- -- -- -- -- -- -- Held under repurchase agreements 54 54 " -- -- -- U. S. Government securities: Bought outright-- Bills 8,987 467 2,239 473 742 612 510 1,520 326 177 343 337 l,24l Certificates 12 l 3 1 1 l 1 2 * # * * 2 Notes 24,926 1,295 6,211 1,311 2,059 1,700 1,415 4,217 903 491 950 932 3,442 Bonds 6,571 342 1,637 346 543 448 373. 1,112 238 129 250 246 907 Total 4o,496 2,105 10,090 2,131 3,345 2,76l 2,299 6,851 1,467 797 1,543 1,515 5,592 Held under repurchase agreements -- -- __ -- -- -- -- " " -- " " -- Total U. S. Government securities 40.496 2,105 10,090 2,131 3,345 2,761 2,299 6,851 1,467 797 1,543 1,515 5,592 Total loans and securities 41,225 2,l44 10,426 2,143 3,355 2,794 2,315 7, oia 1,500 806 1,579 1,527 5,595 Cash items in process of collection 7,954 517 1,591 474 566 598 649 1,328 366 246 475 400 744 Bank premises . 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 725 27 307 30 48 35 32 86 20 12 25 26 77 TOTAL ASSETS 64,417 3,572 15,560 3,429 5,211 4,812 3,718 10,862 2,375 1,359 2,627 2,556 8,336 1/ 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. 4.1(c) STATEMENT OF.CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 30, 1966 San New Phila Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (In millions; of dollars) L I A B I L I T IE S Federal Reserve notes 37,416 2,239 8,500 2,202 3,170 3,359 2,160 6,801 1,416 697 1,404 1,181 4,287 Deposits: Member hank reserves 17,941 700 5,049 725 1,347 807 890 2,673 586 383 753 920 3,108 U.S. Treasurer--general account 546 32 74 20 47 73 42 64 34 29 39 44 48 Foreign 142 7 1/ 38 8 13 7 9 20 5 3 6 8 18 Other 371 •* 2/307 1 l 2 l * 2 1 SI Total deposits 19,000 739 5,468 754 1,407 892 942 2,759 626 415 800 973 3,225 Deferred availability cash items 6,566 524 1,222 397 507 483 532 1,089 283 213 361 325 63O Other liabilities and accru ed dividends 195 10 48 10 16 12 10 31 7 5 8 7 TOTAL LIABILITIES 63,177 3,512 15,238 3,363 5,ioo 4,746 3,644 10,680 2,332 1,330 2,573 2,486 8,173 CAPITAL ACCOUNTS Capital paid in 560 27 146 30 50 29 34 81 19 13 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 129 6 32 6 11 9 7 22 5 3 5 s 18 TOTAL LIABILITIES AND CAPITAL ACCCUNTS 64,4ll._ 3,572 15,560 3,429 5,211 4,812 3,718 10,862 2.T75 1,35Q ....2.,627 ,2,556 _ 8,336 „ Contingent liability on acc eptances purchased for forei gn L_ correspondent^ 129 6 i/ 34 7_ 12 7_ 8_ 18 3_ £_ 7_ 1Z FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,036 2,300 3,432 3,523 2,344 7,170 1,498 732 1,489 1,279 4,612 Collateral for F. R. notes: Gold certificate account 1,000 500 600 888 425 1,100 315 127 225 180 735 Eligible paper 32 U. S. Government securities 8,200 1,900 2,950 2,677 1,975 6,400 1,310 625 1,300 1,130 4,300 Total collateral 9,200 2,407 3,550 3,565 2,4oo 7,500 1,657 752 1,525 1,310 5,035 l/ After deducting $104 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 2/ After deducting $ 95 million participations of other Federal Reserve Eanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis