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 'f^ri^v Condition Statemrejt of F.R. Banks H.4.1 For immediate release April 14, 1966 The average of daily figures of total member bank reserves held during the week ended April 13 decreased a net of $6 million to $22,367 million. Estimated currency and coin of member banks decreased $2 million and their reserve balances at the Federal Reserve Banks decreased $4 million . Estimated required reserves increased $28 million; and estimated excess reserves decreased $3^ million to $318 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $285 million, compared with the revised net borrowed figure of $271 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $111 million in U. S, Government securities held under repurchase agreements and $20 million in member bank borrowings, and an increase of $360 million in currency in circulation . The principal offsetting changes were increases of $232 million in Federal Reserve float and $22 million in Treasury currency outstanding, and decreases of $171 million in Treasury deposits with Federal Reserve Banks, $49 million in "other" F. R. accounts (net), and $15 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $106 million. As of Wednesday, April 13, holdings of U. S. Government securities bought outright were unchanged from a week earlier, U. S. Government securities held under repurchase agreements were $124 million lower, and member bank borrowings were $^93 million lower. Average; s of dailv figures i Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 13, April 6, April ±k, April 13 and related items 1966 1966 1965 1 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 40,787 + 8 +3,16^ 40,787 Held under repurchase agreements 34 -111 240 Acceptances-- Bought outright 77 + 1 + 23 76 Held under repurchase agreements 4o - 4 9 69 Discounts and advances-- Member bank borrowings 603 - 20 + 206 297 Gther 20 -_ + 5 20 Float 1,869 +232 + 362 1.540 Total Reserve Bank credit ^3,43.1 +106 +3,548 43,029 Gold stock 13,633 -- - 886 13,634 Treasury currency outstanding 5,760 i- 22 + 354 5,760 62,824 +128 +3,017 62,423 Currency in circulation 41,864 +360 +2,772 4i,904 Treasury cash holdings 933 - 1 + 192 950 Treasury deposits with F. R. Banks 138 -171 - 772 210 Foreign deposits with F. R. Banks 158 - 15 — 153 Cther deposits with F. R. Banks 395 + 8 + 193 1 4oo Other F. R. accounts (net) 558 - 49 - 246 1 454 44,o46 +131 +2,138 44,071 Member bank reserves: With Federal Reserve Banks 18,778 - 4 879 , 18,352 Currency and coin (estimated) 3.589 - 2 + 199 4,145 Total reserves held 22,367 - 6 +1,078 1 22,497 Required reserves (estimated) 22,049 + 28 +1,038 22,153 Excess reserves (estimated) 318 - 34 •:• 40 1 344 On April 13, i960, U S. Government securities held in custody by the # Federal Reserve Banks for foreign account were $7,489 million, a decrease of $111 million for the week and a decrease of $121 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (tn millions of dollars) Change since Apr. 13, Apr. b, Apr. 14, 1966 1966 1965 A S S E TS Gold certificate account 11,468 - 21 -1,126 Redemption fund for P. R. notes 1,717 + 7 + 180 Total ..gold certificate reserves 13,185 - l4 - 946 Cash (873) 212 + 3 + 89 Discounts and advances 317 -493 + 40 Acceptances: Bought outright 76 -- + 21 Held under repurchase agreements 69 + 31 + 7 U. S. Government securities: Bought outright— Bills 9,278 -- +2,274 Certificates 12 -- + 12 Notes 24,926 -- - 765 Bonds 6,571 -- +1,643 Total bought outright 40,787 -- +3,164 Held under repurchase agreements 24o -124 z 11 Total U. S. Government securities Hi,027 -124 +3,085 Total loans and securities 41,489 -586 +3,153 Cash items in process of collection (1,691) 7,116 +749 576 Bank premises 102 -- Other assets 1/ 809 + 38 12 TOTAL ASSETS (2,564) 62,913 +190 +2,860 L I A B I L I T I ES Federal Reserve notes (873) 36,857 +127 +2,506 Deposits: Member bank reserves 18,352 -736 + 613 U. S. Treasurer—general account 210 +102 - 586 Foreign 153 - 1 + 6 Other 2/ 4oo + 47 + 198 Total deposits 19,115 -588 + 231 Deferred availability cash items (1,691) 5,576 +757 + 4o4 Other liabilities and accrued dividends 191 - 11 336 TOTAL LIABILITIES (2,564) 61,739 +2, 805 +285 C A P I T AL A C C O U N TS Capital paid in 560 + 23 Surplus 551 + 27 Other capital accounts 63 - 95 + 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,564) 62,913 +190 +2, 860 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on 5. the following pages—not consolidated) 3^9$ -.2$ Contingent liability on acceptances purchased for foreign correspondents 132 +4 * 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, APRIL 13, 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 Uithin 15 days 292 90 1,213 16 days to 90 days 25 55 11,031 - 76 91 days to 1 year 13,820 Over 1 year to 5 years 13,273 Over 5 years to 10 years 1,305 Over 10 years 385 Total 317 1^5 -124 hi,027 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON APRIL 13, I966 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) A S S E TS Gold certificate account 11,468 691 2,294 600 1,019 986 648 2,119 443 168 404 281 1,815 Redemption fund for F. R. notes 1,717 97 416 91 3*3 137 101 313 64 32 66 57 200 Total gold certificate reserves 13,185 788 2,710 691 1,162 1,123 749 2,432 507 200 470 338 2,015 F. R. notes of other Banks 873 5h 232 46 73 78 110 72 3^ 19 30 55 70 Other cash 212 13 29 12 27 12 22 31 12 5 11 12 26 Discounts and advances 317 57 h9 17 6 8 3^ 64 15 20 3^ 8 5 Acceptances: Bought outright 76 76 -- -- -- -- — — -- -- — — Held under repurchase agreements 69 69 — — — — — — -- — — — 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 l 3 1 1 1 1 2 # # * * 2 Notes 2k,926 1,298 6,305 1,279 2,008 1,7^ i,35J+ 4,100 876 527 955 1,018 3,462 Bonds 6,571 3^2 1,662 337 529 4 60 357 1,081 231 139 252 268 913 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 240 — 240 — — -- -- -- --. -- -- -.- -- Total U. S. Government securities 41,027 2.124 10,557 2,093 3,286 2,854 2,216 6,709 lMk 862 1.563 1.664 5.665 Total loans and securities 41,489 2,181 10,751 2,110 3,292 2,862 2,250 6,773 1,449 882 1,597 1,672 5,670 Cash items in process of collection 8,807 55^ 1,469 57^ 627 731 753 1,469 452 266 553 445 914 Bank premises 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets 1/ 809 31 340 34 53 39 36 96 22 is 27 30 86 TOTAL ASSETS 65,477 3,624 15,5^0 3, ^70 5,239 M 50 3,9^0 10,893 2,483 1,390 2,695 1 2,562 8,791 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.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 13, 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 37.730 2,259 8,553 2,220 3,187 3,380 2,169 6,853 1A26 708 1,421 1,19U l+,360 Deposits: Member bank reserves 18,352 775 l+,930 686 1,359 76l 1,051+ 2,608 636 1+20 785 924 3,4i4 U.S. Treasurer—general account 210 1 17l+ 1 2 1 21 1 1 2 2 2 2 Foreign 153 7 1/1+6 8 13 7 9 21 5 4 6 6 19 Other lj-00 27321 2 * 7 l 3 l * 2 l 62 Total deposits 19,115 783 5,471 697 1,37^ "775 i7o8l 2,633 ®+3 i+25" 795 935 3 7^ Deferred availability cash items 7,267 515 1,157 1+81 558 620 605 1,208 367 224 1*20 357 755 Other liabilities and accrued dividends 191 10 54 9 1155 13 10 29 7 4 7 8 25 TOTAL LIABILITIES 64,303 3,567 15,235 3?^J 57l3~S 577B9 3,869 10,723 27P+3 1,362 "27SH3" T&ft ^W: CAPITAL ACCOUNTS Capital paid in 560 27 l46 30 50 29 34 81 19 13 25 33 73 Surplus 551 27 l44 30 50 28 33 79 19 13 21+ 32 72 Other capital accounts 63 3 15 5 4 4 10 2 2 3 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,477 3,624 15,540 3A70 5,239 4,850 3,940 10,893 2,483 1,390 2,695 2,562 6,791 Contingent liability on accept ances purchased for foreign correspondents 132 3/3^ 12 7 8 19 8 FEDERAL RJGIiRVE AGENT'S ACCOUNTS F. R. notes outstanding 2,363 9,088 2,298 3~!+35 33,7555511 273W 77205 I75I5" 73b" 1,503 1,293 T+TW Collateral for F. R. notes: Gold certificate account 440 1,000 500 600 888 425 1,100 315 127 225 180 735 Eligible paper 16 14 U. S. Government securities 1,945 8,200 1,900 2,950 2,697 1,975 6,40C 1,310 625 i,3CQ i.-no 4.?oc Total collateral 2,385 9,200 2,4i6 3,550 3,585 2,4oo 7,500 1,639 752 1,525 1,310 5,035 l/ After deducting $107 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3,1 After deducting $ 98 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis