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 For immediate release H.4.1 June 9, 1966 The average of daily figures of total member bank reserves held during the week ended June 8 decreased $166 million to $22,202 million. Estimated currency and coin of member banks decreased $163 million and their reserve balances at the Federal Reserve Banks decreased $3 million. Estimated required reserves increased $87 million; and estimated excess reserves decreased $253 million to $172 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $375 million, compared with the revised net borrowed figure of $387 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $265 million in member bank borrowings and an increase of $239 million in currency in circulation. The principal offsetting changes were increases of $204 million in U. S. Government securities bought outright, $95 million in Federal Reserve float, and $3^ million in acceptances held under repurchase agreements, and a decrease of $102 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $91 million. As of Wednesday, June 8, holdings of U. S. Government securities bought outright were $203 million higher than a week earlier and member bank borrowings were $6l2 million higher. Outright holdings of bills, notes, and bonds increased $156 million, $16 million, and $31 million, respectively. Averages of dailv figures Member bank reserves, Week ended Change from veek ended Wednesday, Reserve Bank credit, June 8, June 1, June 9, June 8, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U S. Government securities-- 0 Bought outright—System account 4l,661 +204 +3 ,146 41,542 Held under repurchase agreements 21 + 21 - 353 ~- Acceptances-- Bought outright 82 _ — + 37 83 Held under repurchase agreements 133 + 34 + 111 131 Discounts and advances- Member bank borrowings 547 -265 73 976 Other 20 — — 17 Float 1,765 + 95 + 209 1,399 Total Reserve Bank credit 44,230 + 91 +3, 224 44,148 Gold stock 13,533 - 1 - 760 13,534 Treasury currency outstanding 5,888 + 20 + 494 5,894 63,651 +110 +2 959 63,576 Currency in circulation 42,226 +239 +2 ,754 42,366 Treasury cash holdings 992 - 3 -r 227 1,008 Treasury deposits with F.R. Banks 737 -102 - 103 901 Foreign deposits with F. R, Banks 146 - 3 + 19 156 Other deposits with F.R. Banks 392 - l + 214 400 Other F.R. accounts (net) 617 - 16 - 676 616 45,109 +113 +2 ,434 45,447 Member bank reserves: With Federal Reserve Banks 18,542 - 3 + 525 18,129 Currency and coin (estimated) 3,660 -163 + 310 4,002 Total reserves held 22,202 -166 + 835 22,131 Required reserves (estimated) 22,030 + 87 + 965 21,965 Excess reserves (estimated) 172 -253 - 130 166 On June 8, I966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,637 million, a decrease of $31 million for the week and a decrease of $16 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 (in millions of dollars) Change since. June 8, June 1, June 9, 1966 1266 1965 A S S E TS Gold certificate account 11*351 - 11 -1,117 Redemption fund for F. R. notes 1*733 + 3 + 182 Total gold certificate reserves 13,084 - 8 - 935 Cash (817) 233 + 7 + 117 Discounts and advances 993 +609 + ^75 Acceptances: + ko Bought outright 83 Held under repurchase agreements 131 + 36 + 112 U. S. Government securities: Bought outright— Bills 9,910 +156 +2,285 Certificates 12 + 12 Notes 25,236 + 16 - k9k Bonds 6,384 + 31 +1*299 Total bought outright W^2 +203 +3,102 Held under repurchase agreements - 101 Total U.S. Government securities 4l,5j+2 +203 +3,001 +TO Total loans and securities 42,7^9 +3,628 Cash items in process of collection (1,476) 6,208 - 32 + 522 Bank premises , 103 + 1 Other assets 3J 795 + 23 + U62 22 TOTAL ASSETS (2,293) 63,172 +3,795 L I A B I L I T I ES Federal~Reserve notes (817) 37,263 +166 +2,468 Deposits: Member bank reserves 18,129 +5^7 + 918 U. S. Treasurer--general account 901 + k6 - 80 Foreign 156 + 2k + Ik Other 2/ 400 - ?>k + 229 +1,081 Total deposits 19*586 +583 Deferred availability cash items (1,^76) 4,809 + 50 + kk9 Other liabilities and accrued dividends 224 + 8 - 275 TOTAL LIABILITIES (2,293) 6l,882 +807 +3,723 C A P I T AL A C C O U N TS + 21 Capital paid-in ~ ~ 56l + 27 Surplus 551 Other capital accounts 178 + 31 + 2k TOTAL LIABILITIES AND CAPITAL ACC0UNTS(2,293) 63,172 +838 +3,795 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 3^-^ -•!$ " 5*3$ Contingent liability on acceptances purchased for foreign correspondents 193 + 26 + 3U * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. I/Includes assets denominated in foreign currencies and IMF gold deposited. 2/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, JUNE 8, 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 976 l57 1,200 + w 16 days to 90 days 17 67 10,256 +172 91 days to 1 year *"* 1^,737 -100 Over 1 year to 5 years 13,657 + U5 Over 5 years to 10 years 1,307 + 2 Over 10 years — -- 385 _- Total 993 2lE Ui, 51*2 +203 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT CF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 8, 1966 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (RTm illionsj of dollars) A S S E TS Gold certificate account 11,351 700 2,233 601 987 l,l6l 573 1,933 402 234 423 381 1,723 Redemption fund for F. R. notes 1,733 102 419 93 146 138 28_ ^.14 62_ ?? 68_ 58_ 202 Total gold certificate reserves 13,084 802 2,652 694 1,133 1,299 671 2,247 464 267 491 439 1,925 F. R. notes of other Banks 817 57 203 53 65 82 87 72 35 22 33 47 61 Other cash 233 13 28 11 3^ 15 18 38 16 6 11 14 29 Discounts and advances 993 92 211 66 28 44 50 253 30 17 73 45 84 Acceptances: Bought outright 83 --. 83 — — -- -_ -- __ — — — — — m. Held under repurchase agreements 131 131 -- -- --. --. -- --. — — U. S. Government securities: r Bought outright-- Bills 9,910 496 2,459 522 807 694 573 1,696 369 209 378 383 1,324 Certificates 12 1 3 l 1 1 l 2 # # # * 2 Notes 25,236 1,262 6,262 1,328 2,055 1,768 1,458 4,318 940 532 963 976 3,37^ Bonds 6,384 319 1,584 32i_ 520 447 369 _ 1,092 238 _ 1 3 5_ 244 247 853 Total 41,542 2,078 10,308 2,187 3,383 2,910 2,401 7,108 1,547 876 1,585 1,606 5,553 Held under repurchase agreements -- -- -- -- „ -- -- -- -- -- -- -._ m Total U. S. Government securities 4i,542 2,078 10,306 2,187 3,383 2,910 2,401 7,108 1,547 876 1,585 l,6c6 5,553 Total loans and securities 42,749 2,170 10,733 2,253 3,411 2,954 2,451 7,361 1,577 893 1,658 1,651 5,637 Cash items in process of collection 7,684 494 1,312 470 542 629 626 1,282 385 261 512 402 769 Bank premises. 103 3 9 3 5 5 20 20 8 3 7 10 10 Other assetsi/ 795 29 341 33 53 35 3JL_ 92 22_ 15 27 31 81 TOTAL ASSETS 65,465 3,568 15,278 3,517 5,243 5,019 3,909 11,112 2,507 1,467 2,739 2,594 8,512 _ _ 1/ Includes assets denominated in i' oreign currencies and IMF gold depositee • Less than $500,0 00" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF EACH FEDEEAL RESERVE BAM ON JUNE 8, 1966 New Phila Cleve Rich St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions; of dollars) L I A B I L I T I ES Federal Beserve notes 38,080 2,289 8,628 2,235 3,191 3 Ml 2,201 6,901 1,^35 719 1,449 1,218 ^,397 Deposits: Member "bank reserves 18,129 686 4,735 73^ 1,3^2 879 1,052 2,809 646 445 787 896 3,118 U.S. Treasurer--general account 901 46 92 68 80 109 59 102 62 38 65 67 113 Foreign 156 7 1/^9 8 13 7 9 21 5 4 6 8 19 Other 4oo •* 2/321 * 6 3 2 1 •* 3 4 60 Total deposits 19,586 739 5,197 810 1,435 1,001 1,123 2,934 714 487 861" 975 3,310 Deferred availability cash items 6,285 466 392 485 517 495 1,049 306 225 364 320 606 i,c6o Other liabilities and accrued dividends 224 11 11 18 15 13 38 8 6 9 9 29 57 TOTAL LIABILITIES 64,175 3,505 14,9^2 3,^8 5,129 T,950 3,832 10,922 2,463 1,^37 2,683 2,522 8,3^2 CAPITAL ACCOUNTS Capital paid in 56l 27 146 30 50 29 3^ 81 19 14 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 178 9 46 9 14 12 10 30 6 3 7 7 25 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,^65 | 3,568 15,278 3,517 5,243 5,019 3,909 11,112 2,507 1,^67 2,739 2,59*1 8,512 . Contingent liability on accept ances purchased for foreign c orre spondent s 193 9 3/51 10___ 17 10 12 28 7__ 5_ _JL_ 11 25._ FEDEEAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 40,244 2,396 9,136 2,323 3,^36 3,574 2,369 7,222 1,515 760 1,53^ 1,317 4,662 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 51 22 29 U. S. Government securities 3M29 1,906 8,300 1,900 2,950 2,713 1,975 6,300 1,310 645 1,350 1,180 4,300 Total collateral 41,493 2,4o6 9,300 2,422 3,550 3,619 2,400 7,400 1,65k 772 1,575 1,360 5,035 1/ After deducting $107 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $l42 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis