H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••qtGovA-. F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and KX.*lf**Li&$ Condition Statement Of F.R. Banks For immediate release July 7, 1966 The average of daily figures of total member bank reserves held during the week ended July 6 Increased a net of $25^ million to $23,180 million. Estimated currency and coin of member banks decreased $3^-8 million and their reserve balances at the Federal Reserve Banks increased $602 million. Estimated required reserves increased $330 million; and estimated excess reserves decreased $76 million to $371 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^56 million,compared with the revised net borrowed figure of $324 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $786 million in U. S, Government securities bought outright, $56 million in member bank borrowings, $29 million in Treasury currency outstanding, and $27 million in Federal Reserve float, and a decrease of $1^5 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $383 million in currency in circulation, $56 million in foreign deposits with Federal Reserve Banks, and $38 million in "other11 deposits with Federal Reserve Banks. Total Reserve Bank credit increased $876 million. As of Wednesday, July 6, holdings of U. S. Government securities bought outright were $901 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $26 million higher, and member bank borrowings were $361 million lower. Outright holdings of bills, notes, and bonds increased $821 million, $17 million, and $63 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 6, June 29, July 7, July 6, and related items 1966 1966 1965 1966 (In r nillions of c lollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 42,581 +786 +3,531 42,707 Held under repurchase agreements 4 + 4 - 534 26 Acceptances-- Bought outright 83 + 2 + 42 81 Held under repurchase agreements 154 + 3 + l4o 172 Discounts and advances- Member bank borrowings 827 + 56 + 245 260 Other 5 — 7 5 Float 2,006 + 27 + 288 2,086 Total Reserve Bank credit ^5,659 +876 +3,704 ^5,337 Gold stock 13,434 + 2 - 500 13,434 Treasury currency outstanding 5,962 + 29 + 5^ 5,974 65,055 +907 +3,748 j 64,745 Currency in circulation 42,634 +383 +2,739 42,974 Treasury cash holdings 1,066 - 10 + 291 1 1,071 Treasury deposits with F. R, Banks 710 -145 + 141 693 Foreign deposits with F.R. Banks 208 + 56 + 46 193 Other deposits with F.R. Banks 428 + 38 + 220 398 Other F.R. accounts (net) 454 - 18 - 327 459 ^5,500 +304 +3,uo ! 45,788 Member bank reserves: With Federal Reserve Banks 19,55** +602 + 637 18,956 Currency and coin (estimated) 3,626 -348 + 375 3,864 Total reserves held 23,180 +254 +1,012 j 22,820 Required reserves (estimated) 22,809 +330 + 989 1 22,820 Excess reserves (estimated) 371 - 76 + 23 -- On July 6, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,517 million, a decrease of $13^ million for the week and an increase of $l4o 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 EANKS (in millions of dollars) Change since July 6, June 29, July 1, 1966 1266 1965 A S S E TS Gold certificate account 11,220 +17 - 828 Redemption fund for F. R. notes 1,773 + 3, + 155 Total gold certificate reserves 12,993 +20 - 673 Cash (705) 249 - 8 + l46 Discounts and advances 265 -361 - 200 Acceptances: Bought outright 8l — + 40 Held under repurchase agreements 172 +25 + 160 U. S. Government securities: Bought outright- Bills 10,890 +821 +2,961 Certificates 15 -- + 15 Notes 25,326 +17 - 411 Bonds 6,476 + 63 +1,092 Total bought outright 42,707 +901 +3,657 Held under repurchase agreements 26 + 26 - 442 Total U. S. Government securities 42,733 +927 +3,215 Total loans and securities 43,251 +591 +3,215 Cash items in process of collection (1,670) 7,087 +283 +1,050 Bank premises 104 — +2 Other assets 1/ 946 + 38 + 237 TOTAL ASSETS (2,375) 64,630 +924 +3,977 L I A B I L I T I ES Federal Reserve notes (705) 37,880 +481 +2,465 Deposits: Member bank reserves 18,956 +628 + 9^8 U. S. Treasurer--general account 693 -132 - 280 Foreign 193 + 6l +1*0 Other 2/ 398 + 1 + 196 Total deposits 20,240 +558 + 90* Deferred availability cash items (l,670) 5,001 -149 + '76O Other liabilities and accrued dividends 224 + 2 - 224 TOTAL LIABILITIES (2,375) 63,345 +§92 +3,905, C A P I T AL A C C O U N TS Capital paid in 562 -~ + 21 Surplus 551 — 4- 27 Other capital accounts 172 + 32 + 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,375) 64,630 +924 +3,977 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 33.7$ -.3$ - 4.4$ Contingent liability on acceptances purchased for foreign correspondents 264 +12 + 108 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, i/lncludes assets denominated in foreign currencies and IMF gold deposited. 2/lncludes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES• JULY 6, 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 253 194 1,018 + 85 16 days to 90 days 12 59 11,092 +599 91 days to 1 year ** — 15,252 +l62 Over 1 year to 5 years — — 13,622 + 29 Over 5 years to 10 years — -- 1,352 + 40 Over 10 years _ZZ _H 397 + 12 Total 265 253 42,733 +927 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION CF EACH FEDERAL RESERVE BANK ON JULY 6, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 11,220 763 2,043 737 925 1,145 676 1,948 453 223 473 484 1,350 Redemption fund for F. R. notes 1,773 101 426 96 148 14 5 103 322 64 33 68 60 207 Total sold certificate reserves 12,993 864 2,469 833 1,073 1,290 779 2,270 517 256 54l 544'"" 1,557 F. R. notes of other Banks i 705 39 152 44 59 77 80 66 32 25 33 47 51 Other cash | 249 11 26 9 38 14 19 43 25 6 12 14 32 Discounts and advances 1 265 48 29 5 3 10 45 64 3 18 17 18 5 Acceptances: 81 81 - — — — -- Bought outright Held under repurchase agreements 172 1 172 — — — -- — — — U. S. Government securities: 1 Bought outright— Bills 110,890 1 578 2,783 561 897 751 595 1,825 387 216 4l4 396 1,487 Certificates 1 15 I 1 4 l l 1 1 2 * * l 1 2 Notes 25,326 1,344 6,472 1,304 2,084 1,748 1,383 4,245 90C 502 964 921 3,459 Bonds 6,476 1 344 1,655 333 533 447 354 1,086 230 128 246 236 884 Total 42,707 t 2,267 10,9l4 2,199 3,515 2,947 2,333 7,158 1,517 846 1,625 1,554 5,832 Held under repurchase agreements 1 26 26 Total U. S. Government securities '42,733 2,267 10,940.. 2,199 3,515 2,947 2,333 7,158 1,517 846 1,625 1,554 5,832 Total loans and securities 43,251 2,315 11,222 2,204 3,518 2,957 2,378 7,222 1,520 864 1,642 1,572 5,837 Cash items in process of collecticn 8,757 515 1,532 537 562 782 742 1,488 443 273 577 449 857 104 3 9 3 5 5 20 20 8 3 8 10 10 Bank premises 946 38 384 42 66 45 43 114 26 17 33 36 102 Other assets ^/ TOTAL ASSETS 67,005 j 3,785 15,794 3,672 5,321 5,170 4,c6l 11,223 2,571 1,444 2,846 2,672 8,446 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

E. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 6, 1966 San Total ! Boston New Phila Cleve Rich Atlanta Chicago St. Minne-] Kansas Dallas Fran York delphia land mond Louis apolis i City cisco (in millions of dollars) L I A E I L I T I ES Federal Reserve notes 38,585 2,330 8,750 2,253 3,206 3,^76 2,249 6,979 1,445 721 l,46o 1,239 4,477 Deposits: Member bank reserves 18,956 826 5,c46 847 1,420 928 1,169 2,745 689 441 842 937 3,066 U.S. Treasurer--general account 693 ^5 1/122 36 54 53 53 97 48 23 59 54 h9 Foreign 193 8 2/ 71 9 15 8 10 24 6 4 7 9 22 Other S98 * -'325 l 15 3 1 1 1 2 1 57 Total deposits 20,240 879 5,564 893 1,490 994 1,235 2,867 744 469 910 1,001 3,194 Deferred availability cash items 6,671 503 1,088 447 493 615 488 1,149 330 218 4ll 352 577 Other liabilities and accrued dividends 1 1 18 16 12 8 6 Q 8 PQ JLJ- TOTAL LIABILITIES 65,720 3,723 15,460 3,6o4 5,207 5,101 3,984 11,033 2,527 1,414 - 2,7 , 9 0 s 2,600 8,277 CAPITAL ACCOUNTS Capital paid in j 562 27 1^6 30 51 29 3^ 81 19 14 25 33 73 Surplus 1 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 172 8 44 8 13 12 10 30 6 3 7 7 24 TOTAL LIABILITIES AND CAPITAL ACCOIMTS 67,005 1 3,785 15_,7S>4 3.672 5,321 .5,170 4,c6l 11.223 2,571 1.444 2.846 2_,672_ 8.446 Contingent liability on accept ances purchased for foreign correspondents i 264 . 13 2/69 14 24 13 16 38_ 9_ 6 12 15 35 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,219 2,474 9,3^0 2,362 3,493 3,666 2,46o 7,391 1,553 763 1,571 1,351 4,795 Collateral for F. R. notes: Gold certificate account 6,588 500 1,000 500 6co 856 450 1,100 315 127 225 180 735 Eligible paper 6 3 3 U. S. Government securities 35,446 1,986 8.400 1,900 2,950 2,850 2,025 6,500 1,310 645 1.350 . .1.230 4.300 Total collateral 42,o4o 2,486 9,400 2,403 3,550 3,706 2,475 7,6co 1,628 772 1,575 1,410 5,035 1/ After deducting $122 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 1/ After deducting $195 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis