H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bank Reserves and n.kiif^LKtfy Condition Statement of F.R. Banks For immediate release June 2, 1966 The average of daily figures of total member bank reserves held during the week ended June 1 increased a net of $136 million to $22,37*+ million. Estimated currency and coin of member banks decreased $37 million and their reserve balances at the Federal Reserve Banks increased $173 million. Estimated required reserves decreased $3 million; and estimated excess reserves increased $139 million to $448 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $364 million, compared with the revised net borrowed figure of §3kk million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $442 million in U. S. Government securities bought outright, $159 million in member bank borrowings, and $25 million in acceptances held under repurchase agreements. The principal offsetting changes were a decrease of $313 million in Federal Reserve float and an increase of $128 million in currency in circulation. Total Reserve Bank credit increased $312 million. As of Wednesday, June 1, holdings of U. S. Government securities bought outright were $288 million higher than a week earlier and member bank borrowings were $l4 million lower. Outright holdings of bills and bonds increased $254 million and $34 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 1, May 25, June 2, June 1, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 41,457 +442 +2,995 I 41,339 Held under repurchase agreements -- -- - 255 | Acceptances- Bought outright 82 + 1 + 33 ! 83 Held under repurchase agreements 99 + 25 + 70 95 Discounts and advances-- Member bank borrowings 812 +159 + 294 364 Other 20 - 1 + 6 20 Float 1,670 -313 + 224 1,481 Total Reserve Bank credit 44,139 +312 +3,367 43,382 Gold stock 13,534 + 2 - 757 13,534 Treasury currency outstanding 5,868 + 8 + 469 5,876 63,541 +322 +3,078 62,792 Currency in circulation 41,987 +128 +2,748 42,211 Treasury cash holdings 995 + 7 + 236 978 Treasury deposits with F. R. Banks 839 - 16 - 17 855 Foreign deposits with F. R. Banks 149 + 19 + 7 132 Other deposits with F. R. Banks 393 + 18 + 203 434 Other F. R. accounts (net) 633 =—L - 652 600 44,996 +149 +2,525 45,210 Member bank reserves: With Federal Reserve Banks 18,545 +173 + 553 17,582 Currency and coin (estimated) 3,829 - 37 + 4o4 4,115 Total reserves held 22,374 +136 + 957 21,697 Required reserves (estimated) 21,926 - 3 + 840 22,234 Excess reserves (estimated) 448 +139 + 117 - 537 On June 1, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,668 million, an increase of $31 million for the week and a decrease of $43 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 BANKS Change since June 1, May 25, June 2, 1966 1966 1965 A S S E TS Gold certificate account 11,362 + 15 -1,114 Redemption fund for F. R. notes 1,730 + 3 + 184 Total gold certificate reserves 13,092 + 18 - 930 Cash (842) 226 - 8 + 112 Discounts and advances 384 - 14 + 156 Acceptances: Bought outright 83 + 3 + 38 Held under repurchase agreements 95 + 23 + 71 U. S. Government securities: Bought outright— Bills 9,754 +254 +2,015 Certificates 12 -- + 12 Notes 25,220 -- - 497 Bonds 6,353 + 34 +1,305 Total bought outright 41,339 +288 +2,835 Held under repurchase agreements -- - 343 Total U. S. Government securities 41,339 +288 +2,492 Total loans and securities 4i,90i +300 +2,757 Cash items in process of collection (1,577) 6,240 -121 + 531 Bank premises . 103 -- + l Other assets —' 772 + 75 + 453 TOTAL ASSETS (2,419) 62,334 +264 +2,924 L I A B I L I T I ES Federal Reserve notes (842) 37,097 +271 +2,447 Deposits: Member bank reserves 17,582 -101 -f 82 U. S. Treasurer—general account 855 +113 - 94 Foreign 132 - 6 - 24 Other 2/ 434 + 4i + 231 Total deposits 19,003 + 47 + 195 Deferred availability cash items (1,577) 4,759 - 97 + 509 Other liabilities and accrued dividends 216 + 12 - 292 TOTAL LIABILITIES (2,419) 61,075 +233 +2,859 C A P I T AL A C C O U N TS Capital paid in 561 -- + 21 Surplus 551 -- + 27 Other capital accounts 147 + 31 + 17 TOTAL LIABILITIES AND CAPITAL -ACCOUNTS (2,1*19) 62,334 +264 +2,924 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages-~not consolidated) 3^-5$ --1$ " 5-*$ Contingent liability on acceptances purchased for foreign correspondents 167 +7 +8 * 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, ril^cludes IMF gold deposit. MATURITY DISTRIBUTION 0F_ LOANS AND SECURITIES, JUNE 1, 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 advance3 S Acceptances Holdings during week Within 15 days 351 113 l,ll6 -294 16 days to 90 days 33 65 10,084 +268 91 days to 1 year •** -- 14,837 +281 Over 1 year to 5 years -- -- 13,612 + 33 Over 5 years to 10 years --. -- 1,305 -- Over 10 years -« __ 385 -- Total 384" 178 4l,339 +2&S ** 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 JUNE 1, 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) A S S E TS Gold certificate account 11,362 ! 1,081 2,3^1 648 958 1,118 623 2,237 419 181 385 245 1,126 Redemption fund for F. R. notes 1.7S0 102 410 93 147 140 99 314 63 ^2 6Q 58 203 Total gold certificate reserves 13,092 1,183 2,751 74l 1,105 1,258 722 2,551 482 213 454 303 1,329 F. R. notes of other Banks 842 59 204 46 76 85 96 69 39 23 35 50 60 Other cash 226 !3 26 11 3h 15 17 38 14 6 11 13 28 Liscounts and advances 384 52 76 h 19 15 44 77 14 10 h9 19 5 Acceptances: Bought outright 83 ! -- 83 - — -- — — — _. —- —- — -- -- -- Held under repurchase agreements 95 -- 95 -- -- -- -- — -- -- U. S. Government securities: Bought outright-- Bills 9>1^ 46o 2,420 512 794 672 526 1,651 352 206 373 397 1,391 Certificates 1 12 1 1 3 1 1 1 1 2 * # * # 2 Notes 25,220 1,190 6,258 1,323 2,054 1,738 1,359 4,270 911 532 962 1,027 3,596 Bonds 6,353 300 1,577,. 333_ 517. 438 3^3_ 1,075 23c 13^ 242 258 906 Total 41,339 1,951 10,258 2,169 3,366 2,849 2,229 6,998 1,^93 872 1,577 1,682 5,895 Held under repurchase agreements __ -- -- — -- -- -- -- -- — -- -- -- Total U. S. Government securities 41,339 1,951 10,258 2,169 3,366 2,849 2,229 6,998 l>93 872 1,577 1,682 5.895 Total loans and securities 41,901 2,003 10,512 2,173 3,385 2,864 2,273 7,075 1,507 882 1,626 1,701 5,900 Cash items in process of collection 7,817 507 1,490 488 535 666 55^ 1,350 355 229 525 3^2 776 Bank premises , 103 3 9 •3 5 5 20 20 8 3 7 10 10 Other assets —' 772 28 333 34 51.,. 3JL_ 3k_ az- 20 15_ 2£_ 30_ 80 . TOTAL ASSETS 64,753 3,796 15,325 3^96 5,191 4,927 3,716 ii, 190 2,425 1,371 2,684 2,449 8,183 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 JUNE 1, 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 37,939 2,280 8,6l6 2,230 3,180 3,4oi 2,185 6,879 1,427 715 1,440 1,204 4,382 Deposits: Member bank reserves 17,582 870 4,487 703 1,317 820 1,003 2,858 608 421 751 868 2,876 U.S. Treasurer--general account 855 35 286 55 80 75 15 123 48 11 31 44 52 Foreign 132 6 1/40 7 11 6 8 18 4 3 6 7 16 Other 434 2/325 2 1 15 1 2 11 2 3 3 69 Total deposits 19,003 911 5,138 767 1,409 916 1,027 3,001 671 437 791 922 3,013 Deferred availability cash items 6,336 534 1,188 421 472 529 417 1,089 276 184 390 244 592 Other liabilities and accrued dividends 2l6 10 55 11 18 14 12 36 8 5 8 9 30 TOTAL LIABILITIES 63,494 3,735 14,997 3,429 5,079 4,860 3,641 11,005 2,382 1,341 2,629 2,379 8,017 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 24 32 72 Other capital accounts 147 7 38 7 12 10 8 25 5 3 6 5 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS '64,753 3,796 15,325 3,496 5,191 4,927 3,716 11,190 2,425 1,371 2,684^ 2,449 8,183 Contingent liability on accept ances purchased for foreign corre spondent s 1 167 8 3/44 9 15 8 10 24 6 4 7_ 10 22 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding -97135^ 273JJ v^sT 3,567 2,359 7,208 1,512 754" 1,523 1,306 4,655 Collateral for F. R. notes: Gold certificate account 1,000 500 600 906 425 1,100 315 127 225 180 735 Eligible paper 4 13 U. S. Government securities 8,300 1,900 2,950 2,693 1,975 6,300 1,310 645 1,350 1,180 4,300 Total collateral 2,406 9,300 2,4o4 3,550 3,599 2,4oo 7,4co 1,638 772 1,575 1,360 5,035 l/ After deducting $ 92 million participations ofo ther Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $123 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis