H.4.1 Factors Affecting Reserve Balances of Depository Institutions

-$%$g&L F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H. For immediate release April 7, 1966 The average of daily figures of total member bank reserves held during the week ended April 6 increased a net of $223 million to $22,392 million. Estimated currency and coin of member banks decreased $2^3 million and their reserve balances at the Federal Reserve Banks increased $k66 million. Estimated required reserves increased $99 million; and estimated excess reserves increased $12^ million to $398 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $225 million, compared with the revised net borrowed figure of $234 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $27^ million in U. S. Government securities bought outright, $1^5 million in U. S. Government securities held under repurchase agree ments, and $115 million in member bank borrowings, and a decrease of $251 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $104 million in Federal Reserve float and $21 million in acceptances held under repurchase agreements, and increases of $156 million in currency in circulation and $38 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $409 million. As of Wednesday, April 6, holdings of U. S. Government securities bought outright were $291 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $364 million higher, and member bank borrow ings were $211 million higher. Average: s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 6, Mar. 30, April 7, April 6, and related items 1966 1966 1965 1966 (In nl illions of cL ollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account ^0,779 +274 +3,283 40,787 Held under repurchase agreements 145 +145 - 84 364 Acceptance s — Bought outright 76 - 1 + 19 76 Held under repurchase agreements 44 - 21 - 42 38 Discounts and advances — Member bank borrowings 623 +115 + 53 790 Other 20 — + 4 20 Float 1,637 -104 + 228 1,548 Total Reserve Bank credit 43,325 +409 +37552 43,623 Gold stock 13,633 + 1 - 930 13,634 Treasury currency outstanding 5,738 + 4 + 340 5,759 62,696 +414 +2,873 63,016 Currency in circulation 4l,504 +156 +2,642 41,783 Treasury cash holdings 934 - 2 + 202 932 Treasury deposits with F. R. Banks 309 -251 - 419 108 Foreign deposits with F. R. Banks 173 + 38 3 154 Other deposits with F. R. Banks 387 + 11 + 180 353 Other F. R. accounts (net) 607 - 3 - 228 598 43,915 - 50 +2,375 43,928 Member bank reserves: With Federal Reserve Banks 18,782 +466 + 499 19,088 Currency and coin (estimated) 3,610 -243 + 392 3,788 Total reserves held 22,392 +223 + 891 22,876" Required reserves (estimated) 21,994 + 99 + 868 22,023 Excess reserves (estimated) 398 +124 + 23 853 On April 6, 1966, U- S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,600 million, a decrease of $38 million for the week and a decrease of $79 million from the comparable date Digitized foar FyReAaSErR ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OP CONDITION OF THE TWELVE FEDERAL RfeSEBVE BANKS (In millions of dollars) Change since April 6, Mar. 30, April 7, 1966 1966 1965 A S S E TS Gold certificate account 11,489 2 -1,255 Redemption fund for F. R. notes 1,710 3 + 167 Total gold certificate reserves 13,199 5 -1,088 * 1 + 76 Cash (902) 209 + 211 + 682 Discounts and advances 810 Acceptances: + 21 Bought outright 76 Held under repurchase agreements 38 16 - 55 U. S. Government securities: Bought outright-- + 291 +2,262 Bills 9,278 + 12 Certificates 12 - 765 Notes 24,926 +1,643 Bonds 6,571 + 291 +3,152 Total bought outright 40,787 + 364 + 104 Held under repurchase agreements 364 + 655 +3,256 Total U. S. Government securities 41,151 + 850 +3,904 Total loans and securities 42,075 Cash items in process of collection (1,497) 6,367 + 161 + 899 Bank premises 102 Other assets i/ 771 + 46 - 73 TOTAL ASSETS (2,399) 62,723 +1,051 +3,718 L I A B I L I T I ES Federal Reserve notes (902) 36,730 + 311 +2,497 Deposits: Member bank reserves 19,088 +1,147 +1,132 U. S. Treasurer--general account 108 - 438 - 397 Foreign I54 + 12 + 2 Other 2/ 353 - 18 + 154 Total deposits 2.9 703 + 703 + 891 Deferred availability cash items (1,497) 4,8l9 + 1 + 627 Other liabilities and accrued dividends 202 + 7 - 367 TOTAL LIABILITIES (2,399) 61,454 +1,022 +3^58" C A P I T AL A C C O U N TS Capital paid in 560 — — + 24 Surplus 551 + 27 Other capital accounts I53 + 29 + 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,399) 62,723 +1,051 +37fiB Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35«1$> • 2fo - 6.0$ Contingent liability on acceptances purchased for foreign correspondents 128 1 6 * 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 pold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 6, 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 DDiissccoouunnttss aanndd Changes aaddvvaanncceess AAcccceeppttaanncceess Holdings during week Within 15 days 787 57 l,26l +555 16 days to 90 days 23 57 11,107 +116 91 days to 1 year -- -- 13,820 - 16 Over 1 year to 5 years -- -- 13,273 — Over 5 years to 10 years -- ~~ 1,305 -- Over 10 years • - -« 385 _- Total 810 H4" Sl7l51 +^55 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 CN APRIL 6, 1966 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millicm 1 of dollars) A S S E TS Gold certificate account 11,489 590 2,196 705 1,014 1,039 678 2,117 390 I87 397 381 1,795 Redemption fund for F. R. notes 1,710 98 407 92 144 137 101 313 63 32 66 2_ 200 Total gold certificate reserves 13,199 688 2,603 797 1,158 1,176 779 2,430 ^53 219 "463 1,995 438 F. R. notes of other Banks 902 59 226 53 86 76 117 73 35 20 29 59 69 Other cash 209 14 30 12 26 13 22 30 12 5 10 10 25 Discounts and advances ! 810 68 99 48 75 ^9 38 207 62 30 73 3^ 27 Acceptances: Bought outright 76 -- 76 — — -- — — -- -- -- _- -- Held under repurchase agreements 38 38 U. S. Government securities: Bought outright-- Bills 9,278 483 2,3^7 476 748 649 504 1,526 327 196 356 378 1,288 Certificates 12 1 3 1 1 l l 2 * * * * 2 Notes 24,926 1,298 6,305 1,279 2,008 1,744 1,35^ 4,100 876 527 955 1,018 3,462 Bonds 6,571 342 1,662 337 529 460 357 l,c8l 231 139 252 268 913 Total 40,787 2,124 10,317 2,093 3,286 2,854 2,216 6,709 1 ,^ 862 1,563 1,664 5,665 Held under repurchase agreements ^64 -- 364 __ -- „ -- -- -- -- -- _- Total U. S. Government securities 41,151 . 2,124 10,681 _2,,Q93._ 3.286_ 2,85^, 2,216 6.709 1.4^4 862 1,563 1,664 ^.66s Total loans and securities 42,075 2,192 10,894 2,l4l 3,361 2,903 2,254 6,916 1,496 892 1,636 1,698 5,692 Cash items in process of collection 7,864 576 1,348 466 53^ 625 636 1,306 388 252 530 403 800 Bank premises . 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 771 30 323 30 51 37 3k 92 21 15 27 29 82 TOTAL ASSETS 65,122 3,562 15,^33 3,502 5,221 M35 3,862 10,867 2,412 l,4o6 2,702 2,647 8,673 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.U.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK OR APRIL 6, 1966 San New Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions5 of dollars) L I A B I L I T I ES Federal Reserve notes 37,632 2,249 8,544 2,214 3,177 3,373 2,171 6,842 1,422 702 1,1*16 1,187 4,335 Deposits: Member hank reserves 19,088 746 5,106 805 1,430 865 1,084 2,723 626 455 829 1,020 3,399 U.S. Treasurer--general account 108 2 90 1 1 2 2 2 1 2 2 1 2 Foreign 15^ 8 1/ 33 9 15 8 10 23 6 4 7 9 22 Other 353 * 2/278 2 •* 8 1 2 * 1 2 1 58 Total deposits 19,703 756 5,507 817 1,446 883 1,097 2,750 633 462 840 1,031 3,481 Deferred availahility cash items 6,316 1*86 996 39^ 469 499 507 1,057 306 208 384 350 660 Other liabilities and accrued dividends 202 9 56 9 17 12 11 31 7 5 7 8 30 TOTAL LIABILITIES 63,853 3,500 15,103 3,434 5,109 4,767 3,786 10,680 2,368 1,377 2,647 2,576 8,506 CAPITAL ACCOUNTS Capital paid in 560 27 146 30 50 29 34 81 19 13 25 33 73 Surplus 551 27 144 50 28 33 79 1 13 24 3 I 72 Other capital accounts 158 ! 8 ko 12 11 9 27 6 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS '65,122 i 3,,562 15,^33 3,502... 5o221_ 4,,835_ 3,862_ 10.867 2,1*12 _JL,AC6__ 2,702 _2.,647 _&*£Z3 Contingent liability on accept ances purchased for foreign correspondents ...... L 128_ 1 , .63 /_J13_ L_ 12. 1_ 8_ 18 4 3_ 6_ 7 1Z FEDERAL RESERVE AGENT* S ACCOUNTS F. R. notes outstanding 9,075 2,292 3 ,^ 3,528 2,3^1 7,175 1,^93 740 1,489 1,277 4,627 Collateral for F. R. notes: Gold certificate account 1,000 500 600 888 425 1,100 315 127 225 l6c 735 Eligible paper 47 61 U. S. Government securities ft.POO 1.000 ?,950 P.677 1,975 6.400 -L,.31Q- -625 1,300 U13C 4,..30.C- Total collateral 9,200 2,447 3,550 3,565 2,400 7,500 1,686 752 1,525 1,310 5,035 l/ After deducting $121 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