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 H.4.1 •••-** For immediate release May 5, 1966 The average of daily figures of total member bank reserves held during the week ended May h increased a net of $151 million to $22,767 million. Estimated currency and coin of member banks decreased $ll6 million and their reserve balances at the Federal Reserve Banks increased $267 million. Estimated required reserves increased $192 million; and estimated excess reserves decreased $kl million to $337 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $280 million, compared with the revised net borrowed figure of $26^ million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $309 million in U. S. Government securities bought outright and $82 million in U- S. Government securities held under repurchase agreements, and a decrease of $37 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $60 million in Federal Reserve float, and increases of $M+ million in Treasury deposits with Federal Reserve Banks and $37 million in currency in circulation. Total Reserve Bank credit increased $3C6 million. As of Wednesday, May 4, holdings of U. S. Government securities bought outright were $296 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $263 million higher, and member bank borrowings were $667 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 4, April 27, May 5, May 4, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 40,755 +309 +3,254 41,009 Held under repurchase agreements 82 + 82 - 311 1 263 Acceptances-- Bought outright 80 + 3 + 26 80 Held under repurchase agreements 77 -- + 23 71 Discounts and advances- Member bank borrowings 617 - 25 + 139 889 Other 20 - 4 + 4 20 Float 1,928 - 60 + 287 1,699 Total Reserve Bank credit 43,560 +306 +3,423 44,031 Gold stock 13,633 + l - 778 13,634 Treasury currency outstanding 5,802 + 21 + 393 5,804 62,99^ +327 +3,036 63,469 Currency in circulation 4l,600 + 37 +2,775 41,748 Treasury cash holdings 944 - 5 + 197 947 Treasury deposits with F. R. Banks 510 + 44 - 327 504 Foreign deposits with F. R. Banks 157 + 24 7 137 Other deposits with F. R. Banks 4oo - 4 + 195 4oo Other F. R. accounts (net) kn - 37 - 4l0 4il 44,029 + 60 +2,424 44,147 Member bank reserves: With Federal Reserve Banks 18,966 +267 + 613 19,322 Currency and coin (estimated) 3,801 -116 + 409 3,947 Total reserves held 22,767 +151 +1,022 23,269 Required reserves (estimated) 22,430 +192 +1,019 1 22,527 Excess reserves (estimated) 337 - 4i + 3 1 742 On May 4, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,535 million, an increase of $46 million for the week and a decrease of $138 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 4, April 27, May 5, 1966 1966 . 1965 A S S E TS -1,148 Gold certificate account 11,459 Redemption fund for F. R. notes 1,726 Z 5_ + 193 Total gold certificate reserves 13A85 5 - 955 Cash (961) 229 + 7 + 106 Discounts and advances 909 + 667 + 527 Acceptances: 80 + 26 Bought outright Held under repurchase agreements 71 37 + 6 U. S. Government securities: Bought outright-- 9,458 + 296 +2,505 Bills 12 + 12 Certificates - 726 Notes 24,965 +1^646 Bonds 6,574 Total bought outright 41,009 + 296 +3,437 Held under repurchase agreements 263 + 263 - 423 Total U. s. Government securities 41,272 + 55,9 +3,014 Total loans and securities 42,332 +1,189 +3,573 Cash items in process of collection (1,646) 7,113 • 278 + 922 Bank premises 102 Other assets i/ 945 + 84 + 156 TGTAL ASSETS (2,607) 63,906 + 997 +3,802 L I A B I L I T I ES (961) 36,671 L 138 +2,492 Federal Reserve notes Deposits: 19,322 + 916 + 834 Member hank reserves 504 + 207 - 129 U. S. Treasurer--general account Foreign 137 + 2 - 16 4oo + 214 Other 2/ Total deposits 20,363 +1,125 + 903 Deferred availability cash items (1,646) 5,414 - 309 + 669 Other liabilities and accrued dividends 199 + 12 - 327 TOTAL LIABILITIES (2,607) 62,647 + 971 +3,737 C A P I T AL A C C O U N TS Capital paid in 560 + 21 Surplus 551 + 27 Other capital accounts 148 + 26 + 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,607) 63,906 +_997 +3,802 Ratio of gold certificate reserves to F. R. note 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 1^0 +3 + «- * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages• 1/lncludes assets denominated in foreign currencies and IMF gold deposited, i/lnclud.es IMF gold deposit. MATURITY DISTRIBUTION OF LOANS.AND.SECURITIES,.JMJt» 19^ (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 Di scounts and Changes advance JS Ac<c eptances Holdings during week Within 15 days 881 84 7,938 +67743 16 days to 90 days 28 67 4,371 -6,253 91 days to 1 year *-* -- 13,976 + 69 Over 1 year to 5 years -- - — 13,297 -- Over 5 years to 10 years -- -- 1,305 Over 10 years — — 385 -- Total 909 151 41,272 + 559 ** Less than $500, ,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 4, 1966 San Total Boston New Phila Cleve- Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millionsi of dollars) A S S E TS Gold certificate account 11,459 684 2,211 691 927 l,06l 666 2,277 442 240 396 391 1,473 .Redemption fund for F. R. notes 1,726 98 413 92 147 1^3 99 311 63 32 66 58 204 Total gold certificate reserves 13,185 782 2,624 783 1,074 1,204 765 2,588 505 272 462 449 1,677 F. R. notes of other Banks 961 65 238 62 82 90 112 83 37 21 33 57 81 Other cash 229 15 30 13 32 12 19 35 14 6 11 14 28 Discounts and advances 909 46 381 3 55 33 60 83 ^9 23 7^ 56 46 Acceptances: Bought outright 1 80 — 80 -- -- -- -- -- -- -- -- -_ -.- Held under repurchase agreements 71 -- 71 -- — U. S. Government securities: Bought outright-- Bills 9,^58 497 2,364 489 775 64o 501 1,596 332 189 357 364 1,354 Certificates 12 1 3 1 1 l l 2 * * # * 2 Notes 24,965 1,312 6,242 1,292 2,045 1,688 1,323 4,214 874 497 942 962 3,574 Bonds 6.574 ^46 1.644 ^4l 538 444 ^48 1.110 2^0 r?i 248 25^ 941 Total 41,009 2,156 10,253 2,123 3,359 2,773 2,173 6,922 1,436 817 1,547 1,579 5,871 Held under repurchase agreements ?6^ «... ?6^ _- -- -.- - - ... „ . _ - — — Total U. S. Government securities 41.272 2.156 10.516 2,123 3,359 2,773 2.173 6,922 1,436 817 1,547 1,579 5.871 Total__lgans_ and securiti. ejs 42,332 2,202 11,048 2,126 3,414 2,806 2,233 7,005 1,485 84o 1,621 1,635 5,917 i Cash items in process of collection 8,759 , 596 1,572 548 615 727 728 l,4o4 46c 260 563 422 864 Bank premises 102 ! 3 9 3 5 5 20 20 7 3 7 10 10 Other assets l/ 9^5 ! 38 376 41 ___65 46 43 119 26 16 33 36 106 TOTAL ASSETS 66,513 i 3,701 15,897 3,576 5,287 4,890 3,920 11,254 2,534 1,418 2,730 2,623 8,683 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 MAY 4, 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 37,632 2,260 8,553 2,211 3,167 3,383 2,167 6,827 1,423 707 1,423 1,194 4,317 Deposits: Member bank reserves 19,322 747 5,346 792 1,390 809 1,064 2,997 662 435 809 977 3,294 U.S. Treasurer--general account 504 62 83 22 29 16 26 65 32 19 26 32 92 Foreign 137 6 1/41 7 12 7 8 19 4 3 6 7 17 Other 4oo # 2/324 1 6 2 2 1 1 2 1 60 Total deposits 20,363 815 5,794 822 1,431 838 1,100 3,083 699 458 843 1,017 3,463 Deferred availability cash items 7,060 554 1,171 466 56l 589 567 1,127 362 219 402 333 709 Other liabilities and accrued dividends 199 11 51 10 17 12 11 32 7 5 7 8 28 TOTAL LIABILITIES 65,254 3,640 15,569 3,509 5,176 4,822 3,845 11,069 2,491 1,389 2,675 2,552 8,517 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 i 148 7 38 7 11 11 8 25. 5 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 66,513 3,701 15,897. 3,5.76... .. ..5,.287.._ 4,890 .3,920 _I lz25j±__ 2^3JL_ 1,418 2,730 ,2,623 8,683 Contingent liability on accept ances purchased for foreign correspondents 140 7 3/ 37 8 13 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,103 2,303 3,435 3,553 2,351 7,193 1,507 739 1,508 1,295 4,633 Collateral for F. R. notes: Gold certificate account 1,000 500 600 886 425 1,100 315 127 225 180 735 Eligible paper 2 48 U. S. Government securities 8,200 i,9.po.. 2,950 2.693 1.975 6,300 1,310 625 1,300 1,180 Jh3QQ_ Total collateral 9,200 2,402 3,550 3,579 2,400 7,400 1,673 752 1,525 1,360 5,035 l/ After deducting $ 96 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3V After deducting $103 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis