H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••iSSSfc F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release May 26, 1966 The average of daily figures of total member bank reserves held during the week ended May 25 decreased a net of $228 million to $22,235 million. Estimated currency and coin of member banks increased $100 million and their reserve balances at the Federal Reserve Banks decreased $328 million. Estimated required reserves decreased $219 million; and estimated excess reserves decreased $9 million to $302 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $351 million, compared with the revised net borrowed figure of $352 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $135 million in U. S. Government securities held under repurchase agreements, and $42 million in Federal Reserve float, and increases of $264 million in Treasury deposits with Federal Reserve Banks, $204 million in "other'1 F. R. accounts (net), and $22 million in Treasury cash holdings. The prin cipal offsetting changes were increases of $203 million in U. S. Government secur ities bought outright, $4-0 million in acceptances held under repurchase agreements, and $27 million in Treasury currency outstanding, and a decrease of $65 million in currency in circulation. Total Reserve Bank credit increased $56 million. As of Wednesday, May 25, holdings of U. S. Government securities bought outright were $250 million higher than a week earlier and member bank borrowings were $523 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 25, May 18, May 26, May 25, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account in, 015 +203 +3,227 4i,05l Held under repurchase agreements -- -135 - 192 -- Acceptances-- Bought outright 81 + 1 + 31 80 Held under repurchase agreements lh + 40 + 54 72 Discounts and advances-- Member bank borrowings 653 - 10 + 170 378 Other 21 - 1 + 7 20 Float 1,983 - 42 + 385 1,505 Total Reserve Bank credit 43,827 + 56 +3,681 43,106 Gold stock 13,532 -- - 803 13,534 Treasury currency outstanding 5,860 + 27 + 463 5,871 63,219 + 82 +3,341 62,511 Currency in circulation 41,859 - 65 +2,812 4l,925 Treasury cash holdings 988 + 22 + 226 998 Treasury deposits with F. R. Banks 855 +264 + 64 742 Foreign deposits with F. R. Banks 130 - 7 - 12 138 Other deposits with F. R. Banks 375 - 9 + 203 393 Other P. R. accounts (net) 640 +204 - 502 632 44,847 +4io +2,790 44,828 Member bank reserves: With Federal Reserve Banks 18,372 -328 + 551 17,683 Currency and coin (estimated) 3,863 +100 + 316 4,298 Total reserves held 22,235 -228 + 867 21,981 Required reserves (estimated) 21,933 -219 + 875 21,969 Excess reserves (estimated) 302 - 9 8 12 On May 25, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,637 million, a decrease of $37 million for the week and a decrease of $168 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 OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 25, May 18, May 26, 1966 1966 1965 A S S E TS Gold certificate account 11,347 3 -1,114 Redemption fund for F. R. notes 1,727 - 1 +_18_0 4" Total gold certificate reserves 13707S - 934 Cash (9*3) 234 3 + 114 Discounts and advances 398 - 523 + 59 Acceptances: Bought outright 80 + 32 Held under repurchase agreements 72 39 + 48 U. S. Government securities: Bought outright-- Bills 9,500 250 +2,034 Certificates 12 + 12 Notes 25,220 - 482 Bonds 6,319 +1,352 Total bought outright 4i,05l 250 +2,916 Held under repurchase agreements - 154 Total U.S. Government securities 4T7o5i H 250 +2,762 Total loans and securities *a, 601 - 234 +2,901 Cash items m process of collection (i,738) 6,361 -1,106 + 758 BaniC premises , 103 + 1 Other assets •=/ 697 I 36 + 4i8 TOTAL ASSETS (2,681) 62,070 -1,311 +3,258 L I A B I L I T I ES Federal Reserve notes (943) 36,826 47 +2^493 Deposits: Member bank reserves 17,683 - 660 + 182 U. S. Treasurer—general account 742 + 137 + 90 Foreign . 1 - 18 138 Other if + 20 + 236 393 Total deposits 18,956 - 504~ + 590 Deferred availability cash items (1,738) 4,856 - 793 + 505 Other liabilities and accrued dividends 204 + 1 - 292 TOTAL LIABILITIES (2,681) 60,842 -l, 343 +3,196 C A P I T AL A C C O U N TS Capital paid in 56l + 22 Surplus 551 + 27 Other capital accounts 116 31 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,681) 62,070 +3,258 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 34-6fo - 5*5$ Contingent liability on acceptances purchased for foreign correspondents l60 +9 +1 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages. iAIncludes assets denominated in foreign currencies and IMF gold deposited. -/includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 25. 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 aaddvvaanncceess AAcccceeppttaanncceess Holdings during week Within 15 days 368 89 1,410 - 31 16 days to 90 days 30 63 9,816 +135 91 days to 1 year. *-* 1^,556 +146 Over 1 year to 5 years -- -- 13,579 — Over 5 years to 10 years — _- 1,305 -_ Over 10 years -- " 385 — Total 398 152 41,051 +250 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(t)) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 25, 1966 San New Phila Cleve J Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land 1 mond Louis apolis City cisco (In 1ii illions of dollars) A S S E TS Gold certificate account 11,347 505 1,844 683 973 1,141 662 2,338 486 232 466 319 1,698 Redemption fund for F. R. notes 1,727 , 98_ 410 94 147 139 99 314 63_ 33 62_ 58_ 203 Total gold certificate reserves '13,074 [ 603 2,254 777 1,120 1,280 761 2,652 549 265 535 377 1,901 F. R. notes of other Banks 9^3 59 256 50 78 89 103 76 42 22 35 59 74 Other cash 234 14 29 11 34 13 19 38 15 6 11 14 30 Discounts and advances 398 44 122 7 4 18 54 63 11 22 25 21 7 Acceptances: Bought outright 80 -- 80 -- -- -- -- — -- -- -- -- -- Held under repurchase agreements 72 -- 72 -- — — — — — — — — — U. S. Government securities: Bought outright-- Bills 9,500 521 2,452 492 779 642 504 1,603 332 189 358 366 1,262 Certificates 12 l 3 1 l l l 2 # * * * 2 Notes 25,220 1,382 6,507 1,305 2,066 1,705 1,336 4,257 883 503 952 971 3,353 Bonds 6,319 346 1,630 327 517_ 427 334 1,067 222 126 239 244 840 Total 41,051 2,250 10,592 2,125 3,363 2,775 2,175 6,929 1,437 818 1,549 1,581 5,457 Held under repurchase agreements — -- -- -- __ -- -- — -- — -« -._ --. Total U. S. Government securities 41,051 2,250 10,592 2,125 3,363 2,775 2,175 6,929 1,437 818 1,549 1,581 5,457 Total loans and securities 4i,6oi 2,294 10,866 2,132 3,367 2,793 2,229 6,992 1,448 84o 1,574 1,602 5,464 Cash items in process of collection 8,099 532 1,458 494 548 628 707 1,278 374 240 546 464 830 Bank premises . 103 3 9 3 5 5 20 20 8 3 7 10 10 Other assets i/ 697 25 316 28 4j_ 32 29 77 18 11 23 25 68 TOTAL ASSETS 64,751 3,530 15,188 3,495 5,197 4,84o 3,868 11,133 2,454 1,387 2,731 2,551 8,377 l/ Includes assets dencminated 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 25, 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 37,769 2,269 8,600 2,219 3,177 3,382 2,l6l 6,850 1,422 714 1,427 1,204 4,344 Deposits: Member bank reserves 17,683 634 4,595 737 1,327 769 1,021 2,922 633 401 787 829 3,028 U.S. Treasurer--general account 742 49 110 43 62 70 53 70 46 32 40 85 82 Foreign 138 6 7 11 6 8 18 4 3 6 7 16 Other 393 1 27318 1 1 5 * 2 1 1 2 3 58 Total deposits 18,956 690 5,069 788 1,401 850 1,082 3,012 684 437 835 924 3,184 deferred availability cash items 6,594 500 1,146 412 492 529 540 1,057 299 203 409 346 661 Other liabilities and accrued dividends 204 11 54 10 18 13 11 34 7 4 7 8 27 TOTAL LIABILITIES 63,523 3,470 14,869 3,429 5,088 4,774 3,794 10,953 2,412 1,358 2,678 2,482 8,216 I CAPITAL ACCOUNTS Capital paid in 561 27 146 30 50 29 34 81 19 14 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 32 72 24 Other capital accounts 116 6 29 6 9 9 7 20 4 2 4 16 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64.751 3,530 15.188 3,,495 5,197„ 4.840 3,868, JJ.,133 2,454 _JU3.6X_ 2,731 2,551 8,377 Contingent liability on accept ances purchased for foreign _.. ...c_^e spqndent s 160 8 3/42 9 14 8 9_. 23 6 4 7 9 21 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 40,167 2,405 9,i4o 2,309 3,437 3,556 2,358 7,196 1,517 754 1,521 1,307 4,667 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 14 4 10 U. S. Government securities 34,848 1,945 8,300 1,900 2,950 2,693 1,975 6,300 1,310 645 1,350 1,180 4,300 Total collateral 4l,475 2,445 9,300 2,4o4 3,550 3,599 2,400 7,4oo 1,635 772 1,575 1,360 5,035 l/ After deducting $ 92 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $118 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis