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 Condition Statement of F.R. Banks F immediate release or April 28, 1966 The average of daily figures of total member bank reserves held during the week ended April 27 decreased a net of $8 million to $22,600 million. Estimated currency and coin of member banks increased $6 million and their reserve balances at the Federal Reserve Banks decreased $14 million. Estimated required reserves increased $5 million; and estimated excess reserves decreased $13 million to $362 million. Member bank borrowings at the Federal Reserve Eanks exceeded excess reserves by $280 million, compared with the revised net borrowed figure of $310 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $188 million in Federal Reserve float and $43 million in member bank borrowings, and an increase of $198 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $145 million in U. S. Government securities bought outright and $43 million in acceptances held under repurchase agreements, and a decrease of $205 million in currency in circulation. Total Reserve Bank credit decreased $39 million. As of Wednesday, April 27, holdings of U„ S. Government securities bought outright were $770 million higher than a week earlier and member bank borrowings were $1,365 million lower. Outright holdings of bills, notes, and bonds increased $728 million, $39 million, and $3 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 27, April 20, April 28, April 27, and related items 1966 1366 1965 1966 (in millions of dollars) Reserve Bank credit: U. S „ Government securities- Bought outright--System account 40,446 +145 +3,103 40,713 Held under repurchase agreements -- -- - 18 -- Acceptances- Bought outright 77 -- + 23 80 Held under repurchase agreements 77 + 43 + 71 108 Discounts and advances- Member bank borrowings 642 - 43 + 297 222 Other 24 + 3 + 9 20 Float 1,988 -188 + 221 1,668 Total Reserve Bank credit 43,254 - 39 +3,706 42,811 Gold stock 13,632 — - 781 13,634 Treasury currency outstanding 5,781 +, 5 ? 375 5,793 62,667 - 35 -3,300 62,238 Currency in circulation 41,563 -205 +2,761 4l,6oi Treasury cash holdings 949 - 2 + 205 947 Treasury deposits with F. R, Banks 466 +198 - 455 297 Foreign deposits with F. R. Banks 133 - 13 • 33 135 Other deposits with F. R. Banks 4o4 - 2 + 214 400 Other F. R. accounts (net) 454 + 6 - 313 452 43,969 - 19 -2,379 43,832 Member bank reserves: With Federal Reserve Banks 18,699 - 14 + 922 l8,4o6 Currency and coin (estimated) 3,901 + 6 + 275 4,318 Total reserves held 22,600 - 8 +1,197 22,724 Required reserves (estimated) 22,238 + 5 +1,076 22,428 Excess reserves (estimated) 362 - 13 - 121 296 On April 27, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,489 million, a decrease of $23 million for the week and a decrease of $202 million from the comparable date a year ago. 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 BAMS (in millions of dollars) Xhangg .since. April 27, April 20, April 28, 1966 1966 1965,_ A S S E TS Gold certificate account 11,459 + 7 -1,1*$ Redemption fund for F. R. notes 1>731 + 3. ±_i2k Total gold certificate reserves 13,190 + 10 - 954 Cash (1,015) 222 + 3 + 90 Discounts and advances 242 -1,365 - 103 Acceptances: Bought outright 80 + 4 + 26 Held under repurchase agreements 108 •- 75 + 68 U. S. Government securities: Bought outright— Bills 9,162 + 728 +2,548 Certificates 12 + 12 Notes 24,965 + 39 - 726 Bonds 6,574 + 3 +1,646 Total bought outright 40,713 + 770 +3,480 Held under repurchase agreements - 127 Total U. S, Government securities 40,713 + 770 +3,353 Total loans and securities^ 4l,l43 - 516 +3,344 Cash items in process of collection (1,713) 7,391 677 +1,159 Bank premises 102 Other assets 1/ 861 +_ 30 + 5 TOTAL ASSETS (2,728) 62,909 -1,150 +3,644 L I A B I L I T I ES Federal Reserve notes (1,015) 36,533 120 +2,528 Deposits: Member bank reserves 18,406 - 82 + 990 U. S. Treasurer--general account 297 - 241 - 662 Foreign 135 + 6 - 13 Other 2/ 4oo + 208 Total deposits 19,238 - 317 + 523 Deferred availability cash items (1,713) 5,723 - 755 + 867 Other liabilities and accrued dividends 182 + 10 - 337 TOTAL LIABILITIES (2,728) 61,676 -1,182 +3,581 C A P I T AL A C C O U N TS Capital paid in 560 + 22 Surplus 551 + 27 Other capital accounts 122 + 32 + 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,728) 62,909 "1,150 +3,644 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 35-1$ •• .1$ - 5-7$ Contingent liability on acceptances purchased for foreign correspondents 137 + 5 - 2 * 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. J/Includes IMF gold deposit. ___ MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, APRIL 27, 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 215 123 1,195 - 42 16 days to 90 days 27 65 10,624 +366 91 days to 1 year ** -- 13,907 +422 Over 1 year to 5 years -- -- 13,297 + 24 Over 5 years to 10 years -_ -- 1,305 -- Over 10 years -.. ~- 385 , Total 242 188 40,713 +770 **Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 27, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions5 of dollars) A S S E TS Gold certificate account 11,459 690 2,515 656 987 990 566 2,337 399 174 439 369 1,337 Redemption fund for F. R. notes 1,731 99 4l4 92 148 145 100 311 63 32 66 57 204 Total gold certificate reserves 13A90 789 2,929 748 1,135 1,135 666 2,648 462 206 505 426 1,541 F. R. notes of other Banks 1,015 64 262 63 88 93 119 87 42 20 32 53 92 Other cash 222 13 32 12 31 11 19 34 14 5 11 13 27 Discounts and advances 242 15 22 8 1 22 33 47 16 17 33 10 12 Acceptances: .Bought outright 80 -- 80 -« -- -- -- — -- -- — -- -- Held under repurchase agreements 108 --" 108 —— — "" — -- -- -- -- -- U. S. Government securities: Bought outright-- Bills 1 9,162 477 2,317 470 738 641 498 1,507 322 194 351 346 1,301 Certificates 12 1 3 l 1 1 1 2 # * * 2 •* Notes 124,965 1,300 6,315 1,281 2,011 1,747 1,356 4,106 878 528 957 942 3,544 Bonds 1 6,574 342 1,663 337 530 46o 357 1,081 231 139 252 249 913 Total 40,713 2,120 10,298 2,089 3,280 2,849 2,212 6,696 1,431 861 1,560 1,537 5,780 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -~ Total U. S. Government securities 40.713 2.120 10,298 2,089 3,280 2.849 -2^212 6.696 _l.V*l 861 .1.560 IJ^T 5.780 Total loans and securities 41,143 2,135 10,508 2,097 3,287 2,871 2,245 6,743 1,447 878 1,593 1,547 5,792 Cash items in process of collection 9,104 584 1,586 562 623 772 814 1,486 459 258 542 501 917 Bank premises / I 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets —' 861. ^4 356 ^6 ._.5&_ 42 ., 38._. 1C4 ?4 is ?Q ^1 94 TOTAL ASSETS 65,637 3,622 15,682 3,521 5,227 4,929 3,921 11,122 2,455 1,385 2,719 2,581 8,473 17 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 27, 1966 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millionss of dollars) L I A B I L I T I ES Federal Reserve notes 37,548 2,256 8,534 2,211 3,167 3,373 2,159 6,820 1,417 706 1,413 1,194 4,298 Deposits: Member "bank reserves 18,406 720 5,137 732 1,360 809 995 2,810 603 417 814 912 3,097 U.S. Treasurer—general account 297 19 15 13 1 37 49 35 45 5 15 9 54 Foreign 135 6 1/39 12 7 5 3 6 7 17 7 8 18 Other 400 1 2/329 * 4 2 3 2 2 52 1 2 2 Total deposits 19,238 746 5,520 753 1,373 857 1,054 2,865 655 428 837 930 3,220 Deferred availability cash items 7,436 551 1,259 483 562 621 624 1,228 334 217 409 380 768 Other liabilities and accrued dividends 182 9 49 8 15 12 10 29 7 5 6 7 25 TOTAL LIABILITIES 64,404 3,562 15,362 3,455 5,117 4,863 3,847 10,942 2,413 1,356 2,665 2,511 8,311 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 72 122 6 10 9 20 4 3 5 17 Other capital accounts 6 30 7 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,637 3,622 15,682 3,521 5,227 4,929 3,921 11,122 2,455 1,385 2,719 2,581 8,473 Contingent liability on accept ances purchased for foreign ... correspondents 137 _T_ _._3/36_ 7_ 12 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS T. R. notes outstanding "97104^ 2,304 3,437 37549 27357" 7,203 1,504 "74T 1,499 1,296 T7SW Collateral for F. R. notes: Gold certificate account 1,000 500 600 841 425 1,100 315 127 225 180 735 Eligible paper 7 15 U. S. Government securities 8,200 1,900 2,950 2,738 1,975 6,300 1,310 625 1,300 1,130 4,300 Total collateral 9,200 2,407 3,550 3,579 2,400 7,400 1,640 752 1,525 1,310 5,035 l/ After deducting $ 96 million participations ofo ther Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $101 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis