H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bonk Reserves and *£f«4U^> Condition Statement of F.R. Banks k For immediate release April 21, I966 The average of daily figures of total member bank reserves held during the week ended April 20 increased a net of $236 million to $22,640 million. Estimated currency and coin of member banks increased $301 million and their reserve balances at the Federal Reserve Banks decreased $65 million. Estimated required reserves increased $204 million; and estimated excess reserves increased $32 million to $4o4 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $28l million, compared with the revised net borrowed figure of $231 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $486 million in U. S. Government securities bought outright and $34 million in U. S. Government securities held under repurchase agreements, and an increase of $130 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $307 million in Federal Reserve float and $82 million in member bank borrowings, and decreases of $110 million in "other" F. R. accounts (net) and $96 million in currency in circulation. Total Reserve Bank credit decreased $138 million. As of Wednesday, April 20, holdings of U. S. Government securities bought outright were $844 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $240 million lower, and member bank borrowings were $1,290 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 20, April 13, April 21, April 20, and related items 1966 1966 1965 , 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account ^0,301 -486 +2,815 39,943 Held under repurchase agreements - 34 - 108 Acceptances-- Bought outright 77 + 24 76 Held under repurchase agreements 34 4 33 Discounts and advances- Member bank borrowings 685 + 82 + 113 1,587 Other 21 + 1 + 4 20 Float 2,176 ±201 + 220 1,590 Total Reserve Bank credit ^3,293 -138 +3,063 43,249 Gold stock 13,632 - 1 - 780 13,634 Treasury currency outstanding + 16 + 368 5,780 62,702 -122 +2,651 62,663 Currency in circulation ia, 768 - 96 +2,710 41,706 Treasury cash holdings 95i + 18 + 190 961 Treasury deposits with F.R. Banks 268 +130 - 613 1 538 Foreign deposits with F R. Banks 146 - 12 - 32 129 Other deposits with F.R. Banks 4o6 + 11 + 178 400 Other F.R. accounts (net) 448 -110 - 272 440 ^3,988 - 58 +2,162 44,174 Member bank reserves: With Federal Reserve Banks 18,713 - 65 + 489 i 18,488 Currency and coin (estimated) 3,927 +301 + 429 ' ^,337 Total reserves held 22,640 +236 + 918 22,825 Required reserves (estimated) 22,236 +204 + 988 22,307 Excess reserves (estimated) 404 + 32 - 70 518 On April 20, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,512 million, an increase of $23 million for the -week and a decrease of $106 million from the comparable date a year aero. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-. 4.1 (a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) , ^ . n Change smce April 20, April 13, April 21, 1966 1966 1965 A S S E TS Gold certificate account 11,^52 - 16 -1,136 Redemption fund for F. R. notes 1,728 + 11 + 188 Total gold certificate reserves 13,180 5 - 948 Cash (978) 219 + 7 + 89 Discounts and advances 1,607 +1,290 +1,398 Acceptances: Bought outright 76 + 22 Held under repurchase agreements 33 36 3 U. S. Government securities: Bought outright--' Bills 8,434 • 844 +1,628 Certificates 12 + 12 Notes 24,926 - 765 Bonds 6,571 +1,643 Total bought outright 39,9*6 - 844 +2,518 Held under repurchase agreements - 24o - 77 Total U. S. Government securities 39,9^3 -1.084 +2,44i Total loans and securities 41,659 + 170 +3,858 Cash items in process of collection (2,034) 8,068 + 952 + 982 Bank premises 102 1 Other assets i/ 831 + 22 1 il. TOTAL ASSETS (3,012) 64,059 +1,146 +3,963 L I A B I L I T I ES Federal Reserve notes (978) 36,653 • 204 +2,465 Deposits: Member bank reserves 18,488 + 136 + 977 U. S. Treasurer--general account 538 + 328 - 345 Foreign 129 - 24 - 23 Other 2/ 400 + 196 Total deposits 19,555 + 44o + 805 Deferred availability cash items (2,034) 6,478 + 902 + 983 Other liabilities and accrued dividends 172 - 19 - 346 TOTAL LIABILITIES (3,012) 62,858 +1,119 +3,907 C A P I T AL A C C O U N TS Capital paid in 560 + 23 Surplus 551 + 27 Other capital accounts 90 jv 27 + 6 < TOTAL LIABILITIES AND CAPITAL ACCOUNTS (3.012) 64,059 +I,l46 +3,963 Ratio of gold certificate reserves to F. R note t liability (computed from figures as shown on the following pages—not consolidated) 35*0$ .1$ - 5.6$ Contingent liability on acceptances purchased for foreign correspondents 132 -- ~ 9 * 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, APRIL 20, 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 advances Acceptances Holdings during -week Within 15 days 1,582 54 1,237 + 24 16 days to 90 days 25 55 10,258 - 773 91 days to 1 year -- -- 13,485 - 335 Over 1 year to 5 years -- — 13,273 -- Over 5 years to 10 years -- -- 1,305 — Over 10 years — — ^85 11 m Total 1,607 109 39,9^3 -1,08k 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 APRIL 20, 1966 f San Total Boston New Phila Cleve-i Rich- Atlanta Chicago St. Minne- Kansas Dallas | Fran- York delphia land i mond Louis apolis City 1 Cisco (In millions; of dollars) A S S E TS Gold certificate account 11A52 761 2,081 664 1,094 1,005 581 2,223 454 171 419 329 1,670 Redemption fund for F. R. notes 1,728 99 416 93 143 146 100 312 63 32 66 58 200 Total gold certificate reserves 13,180 860 2,497 757 1,237 1,151 681 2,535 517 203 485 387 1,870 F. R. notes of other Banks 1 978 61 259 59 80 91 116 76 39 20 30 57 90 Other cash 219 12 31 13 27 12 20 3^ 13 6 11 12 28 .Discounts and advances 1,607 36 775 7 77 44 76 291 28 52 78 84 59 Acceptances: "Bought outright 76 — 76 -- -- -- -- Held under repurchase agreements 33 33 -- -- __ -- -- -- IL S. Government securities: -Bought outright-- Bills 8,1+3^ 439 2,134 432 680 590 458 1,387 297 178 324 344 1,171 Certificates ; 12 1 3 1 1 1 1 2 * 2 Notes ! 24,926 1,298 6,305 1,279 2,008 1,744 1,354 4,100 876 527 955 1,018 3,462 Bonds 6,571 342 1,662 337 529 460 357 1,081 231 139 252 268 913 Total 1 39,9*6 2,080 10,104 2,049 3,218 2,795 2,170 6,570 1,404 844 1,531 1,630 5,548 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- " -- -- Total U. S. Government securities 39,9^3 2,080 10,104 2,049 3,218 2,795 2,170 6,570 l,4o4 844 1,531 1,630 5,548 Total loans and securities ^1,659 2,116 10,988 2,056 3,295 2,839 2,246 6,861 1,432 896 1,609 1,714 5,607 Cash items in process of collection 10,102 579 2,030 673 688 832 868 1,566 456 273 603 522 1,012 Bank premises , 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets i/ 831 33 346 35 55 4i 37 99 22 15 28 31 89 TOTAL ASSETS 67,071 3,664 16,160 3,596 5,387 ^,971 3,988 11,191 2,486 l,4i6 2,773 2,733 8,706 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 OP CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 20, 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) L I A B I L I T I ES Federal Reserve notes 37,631 2,262 8,547 2,217 3,178 3,375 2,153 6,839 1,422 707 1,417 1,196 4,318 Deposits: Member bank reserves 18,488 678 5,065 728 1,338 799 1,016 2,793 640 425 823 993 3,190 U.S. Treasurer--general account 538 25 ,110 24 32 29 32 62 21 22 32 43 106 Foreign 129 6 7 12 7 8 19 4 3 6 7 17 Other 400 * 2/322 5 6 1 1 2 2 1 60 Total deposits 19,555 709 5,530 764 1,382 841 1,057 2,875 667 450 863 1,044 3,373 Deferred availability cash items 8,512 626 1,726 543 705 680 696 1,274 350 226 435 417 834 Other liabilities and accrued dividends 172 q 44 8 15 11 10 28 6 6 7 23 TOTAL LIABILITIES 65,870 3,606 15,847 3,532 5,280 4,907 3,916 11,016 2,445 1,388 2,721 2,664 8,548 CAPITAL ACCOUNTS Capital paid in 560 27 146 30 50 29 34 81 19 13 25 33 73 Surplus : 551 1 2k7 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 90 23 4 7 7 is 3 ? 3 4 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS £.7., 071- _3.,££k_. i.6.,.l6o _ai£9D_ -5-^387— 4- t J37-L-..--^., 988 11.19:1 _2_4£6_ -Xji2£— _2_77-3 -2.. 733- 8.706 Contingent liability on accept ances purchased for foreign corre spondent s ! 132 ! 6 3/35 7 12 7_ 8 19 . 4 3__ 6 8 . .. 17._. FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 40,042 2,3^9 9,H4 2,307 3,440 3,550 2,359 7,207 1,510 744 1,496 1,296 4,650 Collateral for F. R. notes: Gold certificate account 6,488 440 1,000 500 600 841 425 1,100 315 127 225 180 735 Eligible paper 33 6 27 U. S. Government securities 34,673 1,945 8,200 1,900 2,950 2,738 1,975 6,300 1,310 625 1,300 _._1,130 4,300 Total collateral 41,194 2,385 9,200 2,4o6 3,550 3,579 2,400 7,4oo 1,652 752 1,525 1,310 5,035 l/ After deducting $ 96 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000. 2/ After deducting $ 97 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis