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 12, 1966 The average of daily figures of total member bank reserves held during the week ended May 11 decreased a net of $146 million to $22,597 million. Estimated currency and coin of member banks decreased $224 million and their reserve balances at the Federal Reserve Banks increased $78 million. Estimated required reserves decreased $223 million; and estimated excess reserves increased $77 million to $356 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $324 million, compared with the revised net borrowed figure of $338 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $217 million in U. S. Government securities held under repurchase agreements, $185 million in U. S. Government securities bought outright, and $63 million in member bank borrowings, and a decrease of $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $151 million in Federal Reserve float and $43 million in accept ances held under repurchase agreements, and an increase of $234 million in currency in circulation. Total Reserve Bank credit increased $271 million. As of Wednesday, May 11, holdings of U. S. Government securities bought outright were $243 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $27 million lower, and member bank borrowings were $695 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 11, May 4, May 12, May 11, and related items 1966 .1966. JL26£„ .^1266 (in millions of dollars) Reserve Bank credit: U S. Government securities— 0 Bought outright--System account 40,940 +I85 +3,375 40,766 Held under repurchase agreements 299 +217 - 326 236 Acceptances- Bought outright 80 27 80 Held under repurchase agreements 34 - 4 16 31 3 Discounts and advances-- Member bank borrowings 680 63 + 182 194 Other 22 2 + 6 20 Float 1.777 151 + 220 1,538 Total Reserve Bank credit 43,831 +271 +3,499 42,865 Gold stock 13,618 - 15 - 777 13,53^ Treasury currency outstanding 5,819 + JLZ + 420 5,826 63,268 +274 +3,1^2 62,225 Currency in circulation 41,834 +234 +2,763 ' 41,969 Treasury cash holdings 94l - 3 + 197 952 Treasury deposits with F.R. Banks 517 + 7 - ^93 496 Foreign deposits with F.R. Banks 131 - 26 3 124 Other deposits with F.R. Banks 391 - 9 + 200 1 381 Other F.R. accounts (net) 411 - 6 - 4io j 4oi 44,225 +196 +2,253 i ^,323 Member bank reserves: With Federal Reserve Banks 19,044 + 78 + 890 17,902 Currency and coin (estimated) .3,553 -224 + 242 4,031 Total reserves held 22,597 -146 +1,132 21,933 Required reserves (estimated) 22,241 -223 +1,125 22,374 Excess reserves (estimated) 356 + 77 + 7 -441 On May 11, 1966, U. S. Government securities held in custody by the Fe.lnwi Bsserve Banks for foreign account were $7,549 million, an increase of $14 million for the "week and. a decrease of $65 mill ion from the comi-m-able date a yenr 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 BANKS (in millions of dollars) ^£.ang;e since May 11, May h, May 12, 1966 1966 1965 A S S E TS Gold certificate account 1111,,335599 100 ""1^1p 1,726 Redemption fund for F. R< ndtes 1,726 H ±_. 1?5. 13,085 Total gold certificate reserved 13,085 - 100 - 990 Cash (894) 233 + 4 + 113 Discounts and advances 2l4 - 695 + 76 Acceptances: Bought outright 80 -._ + 28 4o + 20 Held under repurchase agreements 31 U. S. Government securities: Bought outright- Bills 9,215 • 243 +2,288 + 12 Certificates 12 - 726 Notes 24,965 +1,646 Bonds 6,574 Total bought outright 40,766 - 243 +3,220 Held under repurchase agreements 236 Z ?! - 305 Total U. S. Government securities 41,002 - 270 +2,915 Total loans and securities 4i,327 -1,005 +3,039 Cash items in process of collection .,523) 6,813 300 + 435 Bank premises 102 Other assets 1/ 982 ± 21 + 217 TOTAL ASSETS >,4i7) 62,542 -1.364 +2,8l4 L I A B I L I T I ES FederarReserve^notes~ ~ ((8899^4))3 366,,887799 + 2o8 +2^l8 Deposits: Member bank reserves 17,902 -1,420 + 528 U. S. Treasurer--general account 496 8 - 584 Foreign 124 - 13 + 4 Other 2/ 381 - 19 + 207 Total de-posits 18,903 -1,460 + 155 Deferred availability cash items (1,523) 5^275 - 139 + 255 Other liabilities and accrued dividends 195 4 - 287 TOTAL LIABILITIES (2,^17) 6l,252 -1,395 +2,64l C A P I T AL A C C O U N TS - — + 21 Capital paid in 560 + 27 Surplus 551 Other capital accounts 179 + 21 + 125 TOTAL LIABILITIES AUD CAPITAL ACCOUNTS (2,417) 62,542 -1,364 ±2,8l4 Ratio of gold certificate reserves to F. R, note liability (computed from figures as shown on the following pages—n^t consolidated) 34.6fo .4$ " 5-7? Contingent liability on acceptances purchased l46 + 6 +1 for foreign correspondents * 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. 2/lncludes IMF gold depogit. MTURITY DISTRIBUTION ..OF .LOANS AND SECURITIES MAY 11, 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 _A_cc eptances Holding^s during week : Within 15 days 118877 ~'~ ~ 4W6 77,7998844 + 46 if; days to 90 days 2277 6655 44,,1l8844 -187 91 days to 1 year ---- ---- 1133,,884477 -129 Over 1 year to 5 years -- -- 13,297 Over 5 years to 10 years -- -- 1,305 Over 10 years -- _-- 385 Total 2l4 111 41,002 -270 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT CF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 11, 1966 : San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas • Fran- York delphia land mond Louis apolis City 1 Cisco (In millions; of dollars) A S S E TS Gold certificate account 11,359 661 2,087 654 1,023 1,147 766 2,260 459 232 484 374 1,212 Redemption fund for F. R. notes 1,726 99 413 92 i47 lU2 100 311 63 32 66 57 204 Total gold certificate reserves 13,085 760 2,500 746 1,170 1,289 866 2,571 522 264 550 431 1,416 F. R. notes of other Banks 89^ 58 240 47 75 88 102 73 36 20 33 59 63 Other cash 233 15 31 12 33 14 19 35 14 6 • 11 15 28 Discounts and advances 21^ 18 24 • 1 7 3 19 28 33 1 22 17 11 25 Acceptances: Bought outright 80 -- 80 -- _.. -- -- -- -• -- -- -- Held under repurchase agreements 31 31 — -- U. S. Government securities: Bought outright— Bills i 9,215 484 2,304 477 755 623 488 1,555 323 184 348 355 1,319 Certificates 12 1 3 1 1 1 1 2 # * * 2 •* Notes 2k,965 1,312 6,242 1,292 2,045 1,688 1,323 4,2i4 874 497 942 962 3,574 Bonds 1 62?V± 346 1,644 34l 538 444 348 1,110 230 131 248 253 94l Total 1+0,766 2,143 10,193 2,111 3,339 2,756 2,160 6,881 1,427 812 1,538 1,570 5,836 Held under repurchase agreements 236 -- 236 -- -- -- -- — -- -- -- -- — Total U. S. Government securities 1^002 2,l43 10,429 2,111 3,339 2,75.6,., 2,160 6,881 1,427 812 1,538 1,570 5,836 Total loans and securities 1 1*1,327 2,l6l 10,564 2,118 3,342 2,775 2,188 6,914 1,434 834 1,555 1,581 5,86l Cash items in process of collection 8,336 567 1,438 531 564 666 688 1,366 449 268 524 425 850 Bank premises , 102 3 9 3 5 5 20 20 7 3 7 10 10 Other assets -/ 982 4o 386 44 68 49 44 124 28 17 34 37 111 TOTAL ASSETS 64,959 3,6o4 15,168 3,501 5,257 4,886 3,927 11,103 2,490 1,412 2,7l4 2,558 8,339 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 11, 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 37,773 2,272 8,561 2,219 3,181 3,390 2,177 6,849 1,428 713 1,431 1,202 4,35C Deposits: Member bank reserves 17,902 681 4,722 703 1,374 843 1,077 2,827 612 414 789 900 2,960 U. S. Treasurer--general account 496 48 .45 23 39 32 46 52 50 18 29 29 85 Foreign 124 6 1/ 32 7 11 6 8 18 4 3 6 7 16 Other 381 l 2/312 1 6 1 2 # 2 2 54 Total deposits 18,903 736 5,111 733 1,425 887 1,132 2,899 666 ^35 826 938 3,115 Deferred availability cash items 6,798 523 1,110 471 521 526 531 1,133 345 230 393 338 67" Other liabilities and accrued dividends 195 10 50 9 16 14 10 32 7 k 8 8 2- TOTAL LIABILITIES 63,669 3; 5^1 14,832 3,^32 5,143 4,817 3,850 10,913 2,446 1,382 2,658 2,486 8*.i69 CAPITAL ACCOUNTS Capital paid in 560 27 146 30 50 29 3^ 81 19 13 25 33 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 179 9 46 9 14 12 10 30 6 4 7 7 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64,959 3,604 15,168 3,501 5,257 4,886 3,927 11,103 2,490 1,412 2,714 2,558 8,339 Contingent liability on accept ances purchased for foreign corre spondent s [ 146 L_ 37 38 8_ 13 7_ 9_ _gl._ 5_ jj._ 6 9_ 19__ FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 40,101 2,397 9,115 2,304 3,438 3,565 2,357 7,210 1,513 7^6 " 1,513 1,294 4,649 Collateral for F. R. notes: Gold certificate account 6,613 500 1,000 500 600 906 425 1,100 315 127 225 180 735 Eligible paper 11 5 6 U. S. Government securities 3^,678 1,945 8,200 1,900 2,950 2,693 1,975 6,300 1,310 625 1,300 1,180 4,300 Total collateral 41,302 2,445 9,200 2,405 3,550 3,599 2,400 7,4oo 1,631 752 1,525 1,360 5,035 1/ After deducting $92 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $108 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis