H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•iSJgfc-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks .4.1 *"* For immediate release June 23, 1966 The average of daily figures of total member bank reserves held during the week ended June 22 increased $378 million to $22,701 million. Estimated currency and coin of member banks increased $20 million and their reserve balances at the Federal Reserve Banks increased $358 million. Estimated required reserves increased $566 million; and estimated excess reserves decreased $188 million to $27^ million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by §kYJ million, compared with the revised net borrowed figure of $326 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $^5 million in Federal Reserve float, and decreases of $110 million in Treasury deposits with Federal Reserve Banks, $68 million in "other" F.R. accounts (net), and $29 million in currency in circulation. The principal offsetting changes were decreases of $97 million in member hank borrowings, $73 million in U. S. Government securities bought outright, $58 million in U. S. Government securities held under repurchase agreements, and $28 million in gold stock, and an increase of $34 million in Treasury cash holdings. Total Reserve Bank, credit increased $215 million. As of Wednesday, June 22, holdings of U. S. Government securities bought outright were $3^- million higher than a week earlier and member bank borrowings were $^3 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 22, June 15, June 23, June 22, and related items 1966 1966 1965 1966 (In rni llions of cH ollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 4l,528 • 73 +2,832 41,469 Held under repurchase agreements "" ""• - 58 - 79 -.- Acceptances-- Bought outright 83 -.- + 43 81 Held under repurchase agreements 103 + 4 + 96 143 Discounts and advances- Member bank borrowings 691 - 97 + 108 ! 809 Other 6 - 6 7 5 Float .2,254 +445 + 217 1,756 Total Reserve Bank credit 44,665 +215 +3,210 1 44,263 Gold stock 13,505 - 28 - 787 1 13,434 Treasury currency outstanding 5,9.31 + 20 + 522 ! 5,936 64,101 +208 +2,945 63,633 Currency in circulation 42,327 - 29 +2,799 42,317 Treasury cash holdings 1,052 + 34 + 274 1,072 Treasury deposits with F.R. Banks 799 -110 - 93 1 168 Foreign deposits with F.R. Banks 155 + 19 + 26 147 Other deposits with F.R. Banks 394 + 6 + 209 4oi Other F.R. accounts (net) 499 - 68 - 654 477 45,225 -150 +2,560 ! 44,582 Member bank reserves: With Federal Reserve Banks 18,876 +358 + 385 i 19,051 Currency and coin (estimated) 3,825 + 20 + 259 1 4,264 Total reserves held 22,701 +378 + 644 23,315 Required reserves (estimated) 22,427 +566 + 785 22,657 Excess reserves (estimated) 274 -188 - 141 1 658 On June 22, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,757 million, an increase of $83 million for the week and an increase of $471 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 22, June 15, June 23, 1966 1965 A S S E TS 12§§. Gold certificate account 11,215 -112 -1,187 Redemption fund for F. R. notes 1,761 + 8 + 143 -104 -l,044 Total gold certificate reserves 12,976 Cash (857) 250 + 8 + 130 Discounts and advances 8l4 + 36 + 721 Acceptances: Bought outright 81 - 2 + 40 Held under repurchase agreements 143 + 44 + 127 U. S. Government securities: Bought outright-- Bills 9,837 + 34 +2,102 12 -- + 12 Certificates Notes 25,236 __ - 501 6,384 -- +1,192 Bonds Total "bought outright 4i,469 + 34 +2,805 -_ - 173 Held under repurchase agreements Total U. s. Government securities 41,469 + 34 +2,6,32 Total loans and securities 42,507 +112 +3,520 Cash items in process of collection (1,846) 8,267 +356 +1,398 Bank premises 103 „- + l 86o + 49 + 497 Other assets i/ TOTAL ASSETS (2,703) 64,963 +421 +4,502 L I AB I L I T I E S Federal-Resirve^notes" ~ ((885577)) 3377,,224^55 - 72 +2,508 Deposits: Member "bank reserves 19,051 +898 +1,218 U. S. Treasurer--general account 168 -870 - 607 Foreign, 147 + 8 + 9 Other =J 401 - 3 + 234 Total deposits + 33 + 854 19,767 Deferred availability cash items (1,846) 6,511 +425 +1,321 Other liabilities and accrued dividends 220 + 4 - 236 TOTAL LIABILITIES (2,703) 63,743 +390 +4,447 C A P I T AL A C C O U N TS Capital paid in 562 __ + 21 Surplus 551 -- + 27 Other capital accounts 107 + 31 + 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,703) 64,963 +421 t M02 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 34.1$ ~*2$ ~ 5*6$ Contingent liability on acceptances purchased for foreign correspondents 246 + 34 + 88 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, l/lncludes assets denominated in foreign currencies and IMF gold deposited. 2/lncludes IW_goia deposit. _ . MATURITY DISTRIBUTION" OF LOANS. AND SECURITIES, JUNE 22, 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 Dis c cunts and Changes advance! S Acceptances Holdings during week Within 15 days 805 158 1,137 -124 lo days to 90 days 9 66 10,200 + 90 91 days to 1 year #* -- 14,891 + 68 Over 1 year to 5 years -- -- 13,5^9 -- Over 5 years to 10 years -- -- 1,307 -- Over 10 years „ -« 385 -- Total 8l4 224 4i,469 + 3% ** Less than $500,'0 00. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(1)) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 22, 1966 San Total Boston New Phila Cleve Rich- Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mend Louis apolis City cisco (in millions of dollars]) A S S E TS Gold certificate account 11,215 722 2,761 557 987 1,012 647 1,986 320 151 358 419 1,295 Redemption fund for F. R. notes 1,761 101 417 94 145 146 103 323 64 34 68 59 207 Total gold certificate reserves 12,976 , 823 3,178 651 1,132 1,158 750 2,309 384 185 426 478 1,502 F. R. notes of other Banks 857 60 218 55 68 86 85 70 37 24 38 46 70 Other cash 250 : 13 28 10 36 15 20 40 23 7 11 15 32 Discounts and advances eik 35 240 18 13 75 66 219 11 14 h9 33 4i Acceptances: Bought outright 81 — 81 -- -- -- — -- — -- -- -- -. Held under repurchase agreements 1^3 -- 143 — -- -- -- -- -- -- — -- --. U. S. Government securities: Bought outright-- Bills 9,837 492 2,44i 518 801 689 511 1,683 367 208 375 380 1,372 Certificates 12 1 3 1 1 l l 2 * * * * 2 Notes 25,236 1,262 6,262 1,328 2,055 1,768 1,310 4,318 940 532 963 976 3,522 Bonds 6^8k 319 1,584 336 520 447 331 1.092 238 135 244 247 891 Total 41,469 2,074 10,290 2,183 3,377 2,905 2,153 7,095 1,545 875 1,582 1,603 5,787 Held under repurchase agreements -- -- -- — -- " -- " " -- -- -- -- Total U. S. Government securities hi,469 2,074 10,290 2,183 3,377 2,905 2,153 7,095 1,545 875 1,582 1,603 5,787 Total loans and securities ^2,507 2,109 io,754 2,201 3,390 2,980 2,219 7,314 1,556 889 1,631 1,636 5,828 Cash items in process of collection 10,113 705 1,822 582 679 807 820 1,624 466 319 64i 533 1,115 Bank premises / 103 3 9 3 5 5 20 20 8 3 7 10 10 Cther assets -/ 860 33 357 39 56 39 39 103 24 14 30 34 92 TOTAL ASSETS 67,666 3,746 16,366 3,5^1 5,366 5,090 3,953 11,480 2,498 l,44l 2,784 2,752 8,649 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.il(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 22, 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 38,102 2,296 8,638 2,239 3,187 3,^27 2,205 6,907 1,432 720 1,^5 1,223 ^,383 Deposits: Member bank reserves 19,051 735 5,39^ 708 1,399 887 1,029 2,946 649 404 818 981 3,101 U.S. Treasurer--general account 168 1 138 1 1 2 1 l 1 17 1 2 2 Foreign 147 7 1/ 44 8 13 7 8 20 5 3 6 8 18 Other 401 1 2/325 * * 3 2 1 l * 3 1 64 Total deposits 19,767 744 5,901 717 1,413 899 1,040 2,968 656 424 828 992 3,185 Deferred availability cash items 8,357 636 1,^55 508 639 684 622 1,389 360 263 450 459 892 Other liabilities and accrued dividends 220 11 55 12 18 15 12 37 8 5 8 9 30 TOTAL LIABILITIES 66,446 3,687 16,049 3,^76 5,257 5,025 3,879 11,301 2,456 1,412 2,731 2,683 8,490 CAPITAL ACCOUNTS Capital paid in 562 27 146 30 51 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 107 5 27 5 8 8 7 19 4 2 4 4 14 TOTAL LIABILITIES AM) CAPITAL ACCOUNTS 67,666 | 3,746 16,366 3,5^1 5,366 5,090 3,953 11,480 2,498 l,44i 2,784 2,752 _8,649__ Contingent liability on accept ances purchased for foreign correspondents 246 12 1/ 6k 13 22 13 15 35 9 6 11 14 32 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 40,671 2,423 9,224 2,3^5 3,465 3,614 2,407 7,283 1,539 757 1,553 1,339 4,722 Collateral for F. R. notes: Gold certificate account 6,593 500 1,000 500 600 886 425 1,100 315 127 225 180 735 Eligible paper 24 13 11 U. S. Government securities 35,056 1,936 8,400 1,900 2,950 2,760 2,025 6,300 1,310 645 1,350 1,180 4,300 Total collateral 41,673 2,436 9,400 2,413 3,550 3,646 2,450 7,4oo 1,636 772 1,575 1,360 5,035 1/ After deducting $ 103 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit, * Less than $500,000. 3/ After deducting $162 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis