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 *r?f*AU^>*' Condition Statement of F.R. Banks H.4.1 For immediate release July 28, 1966 Figures on .factors affecting bank reserves continue to show effects of delays in inter-city and inter-district check clearances resulting from the airline strike. During the week ended July 27, the average of daily figures of total member hank reserves held decreased a net of $21 million to $22,903 million. Estimated currency and coin of member banks increased $l4 million and their reserve balances at the Federal Reserve Banks decreased $35 million. Estimated required reseives decreased $88 million; and estimated excess reserves increased $67 million to $239 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $kkl million compared with the revised net borrowed figure of $^4-59 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were decreases of $450 million in Federal Reserve float, $28 million in gold stock, and an increase of $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $189 million in U. S. Government securities bought outright, and $49 million in member bank borrowings, and decreases of $174 million in currency in circulation, $62 million in "other" F. R. accounts (net), and $33 million in other deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $219 million. As of Wednesday, July 27, holdings of U. S. Government securities bought outright were $27 million higher than a week earlier. Member bank borrowings were $720 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 27, July 20, July 28, July 27, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 4l,873 +189 +3,074 41,983 Held under repurchase agreements - 214 Acceptances--bought outright 65 - 10 4- 29 54 Discounts and advances-- Member bank borrowings 680 + 49 + 201 970 Other 2 + 2 + 2 Float 2,775 -450 +1,101 2,212 Total Reserve Bank credit -219 -^,195 45,219 Gold stock 13,^06 - 28 - 5X7 13,33^ Treasury currency outstanding 5,969 + 3 4- 361 5,971 64,771 -245 +4,239 64,524 Currency in circulation 42,747 -174 +2,846 42,769 Treasury cash holdings 1,076 + Ik + 284 1,089 Treasury deposits with F. R. Banks 1,216 + 60 + 343 1,338 Foreign deposits with F.R. Banks l44 -16 - 12 149 Other deposits with F.R. Banks 4oo - 33 + 2l4 397 Other F.R, accounts (net) 270 - 62 - 440 319 45,855 -209 +3,236 46,061 Member bank reserves: With Federal Reserve Banks 18,916 - 35 +1,002 18,463 Currency and coin (estimated) 3,987 + i4 + 307 4,363 Total reserves held 22,903 - 21 +1,309 22,826 Required reserves (estimated) 22,664 - 88 +1,392 22,694 Excess reserves (estimated) 239 + 67 - 83 1 132 On July 27, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,410 million, an increase of $286 million for the week and an increase of $218 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) CONSAUMTED STATEMENT OF CONDITION OF THE TWELVE FEDEML RESERVE BANKS (in millions of dollars) Change sinct July 27* "July.20, July 28, 1966 _i2& 1966 A S S E T S. Gold certificate account 11,058 - 113 904 186 Redemption fund for F. R. notes Total gold certificate reserves 12,873 - 116 Cash (905) 271 + 2k 151 Discounts and advances 970 720 399 Acceptances: 16 Bought outright 5** 17 U. S. Poveraiaeat securities: Bought outright— 10,166 27 •2,483 Bills 15 + 15 Certificates - uii 25,326 Notes 6 V?6 fl>p92 Bonds T Total bought outright M,983 27 +3,179 Held under repurchase agreements feT9% - 427 27 Totel U. S. Government securities +2,752 *6,007 + 730 TofoJL loans and securities +17169 (1,602) 7,256 -1,273 Cash items in process of collection 16k Bank premises Other assets V 1,022 •5§ TOTAL ASSETS (2,507) 6J+,53.3 L I A B I L I T I ES Federal Reserve notes (905) 37,697 - 105 +2,532 Deposits: 18,U63 283 + 625 Member bank reserves 1,338 566 + 539 U. S. Treasure"!—general acaount 149 8 8 Foreign m 28 + 205 Other 2/ 157 Total deposits 20,3^7 +1,361 Deferred availability cash items (1,602) 5,0kk Ikh + 67T Other liabilities and accrued dividends 198 - 198 TOTAL LIABILITIES (2,507) 63,286 - 607 +4,372 C A P I T AL A C C O U N TS Capital paid in ** 56k + 22 Surplus 551 + 27 Other capital accounts 132 28 ± ia TOTAL LIABILITIES ANP CAPITAL ACCOUNTS (2,507) 64,533 +M31* Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on , the following pages—not consolidated) 33.3$ -3$ 4.7^ Contingent liability on acceptances purchased for foreign correspondents 259 + 12 + 107 * 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. ^/Includes IMF gold deposit. _ _ MATURITY1 DISTRIBUTION OF LOAMS AND SECURITIES, JULY 27. 19& (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 t DDiissccoouunnttss aanndd Changes aaddvvaanncceess AArc^ceenpttaanncceess Holdings during week Within 15 days 956 15 1,^95 - 38 16 days to 90 days Ik 39 10,212 +155 91 days to 1 year *.- -- 14,9C5 - 90 Over 1 year to 5 years — — 13,622 — Over 5 years to 10 years -- -- 1,352 -- Over 10 years -- _i2 Z -- Total 9•i 70 54 41,983 + 27 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT CF CONDITION CF EACH FEDERAL RESERVE BANK ON JULY 27, 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 11,058 509 2,235 611 848 1,045 528 2,238 372 239 511 512 1,410 Redemption fund for F. R» notes 1,815 103 436 98 148 148 103 332 64 33 71 62 217 Total gold certificate reserves 12,873 612 2,671 709 996 1,193 631 2,570 436 272 582 574 1,627 F. R. notes of other Banks 905 59 206 69 61 93 84 74 34 42 39 45 99 Other cash 271 13 31 10 39 14 22 45 27 7 12 16 35 Discounts and advances 970 81 244 6 33 45 88 133 45 13 34 44 204 Acceptances: Bought outright 5^ -- 54 -- " -- " -- -- -- " -- — Held under repurchase agreements -- -- -- -- -- " -- -- U. S. Government securities: Bought outright— Bills 10,166 539 2,598 524 837 701 555 1,704 362 202 386 370 1,388 Certificates 15 1 4 1 1 1 l 2 # 1 l 2 •* Notes 25,326 1,344 6,472 1,304 2,084 1,748 1,383 4,245 900 502 964 921 3,459 Bonds 6,476 344 1,655 333 533 447 354 1,086 230 128 246 236 884 Total 41,983 2,228 10,729 2,162 3,455 2,897 2,293 7,037 1,492 832 1,597 1,528 5,733 Held under repurchase agreements -- -- -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 41,983 2,228 10,729 2,162 3,455 2,897 2,293 7,037 1,492 832 1,597 1,528 5,733 Total loans and securities 43,007 2,309 11,027 2,168 3,488 2,942 2,38l 7,170 1,537 845 1,631 1,572 5,937 Cash items in process of collection 8,858 529 1,629 522 655 701 774 1,356 4i4 279 560 467 972 Bank premises 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets l/ 1,022 42 4oo 44 71 51 48 131 29 18 36 39 113 TOTAL ASSETS 67,o4o 3,567 15,973 3,525 5,315 4,999 3,960 11,366 2,485 1,466 2,868 2,723 8,793 l7 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. 4.1(c) STATEMENTO F CONDITION OF EACH FEDERAL RESERVE BAM ON JULY 27, I966 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) L I A B I L I T I ES Federal Reserve notes 38,602 2,324 8,788 2,241 3,213 3,487 2,223 7,oo4 1,436 721 l,46o 1,245 4,46o Deposits: Member bank reserves 18,463 603 5,092 725 1,277 822 1,042 2,806 633 421 829 955 3,258 U.S. Treasurer—general account 1,338 ! 8l -163 64 160 85 79 279 65 65 107 81 109 Foreign 149 7 y. 42 8 13 7 9 21 5 4 6 8 19 Other 397 * 2/326 *• 1 6 l l # -* 2 1 59 Total deposits 20,347 i 691 5,623 797 1,451 920 1,131 3,107 703 490 944 1,045 3,445 Deferred availability cash items 6,646 482 1,187 4li 524 512 520 1,038 296 221 402 355 698 Other liabilities and accrued dividends 198 10 51 10 16 13 11 33 7 4 8 8 27 TOTAL LIABILITIES 65,793 3,507 15,649 3,459 5,204 ^,932 3,885 11,182 2,442 1,436 2,814 2,653 8,630 CAPITAL ACCOUNTS Capital paid in 564 27 146 30 51 29 35 81 20 14 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 132 6 34 6 10 10 7 24 4 3 5 18 TOTAL LIABILITIES AND 1 •• • y\ CAFITAL ACCOUNTS 67,o4c 3,567 15,973 3,525 5,315 4,999 3,960 11,366 2,485 _l^66_ _2 2 866_ 2,723 8,793 Contingent liability on accept- 1 ances purchased for foreign correspondents | 259 13 3/ 68 ik 23 13 16 37 9 6 11 15 34 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,775 2,487 9750-5 ""2,395 " 3,518 3,723 2,4bl 7,468 1,5^8 770 1,584 1,376 4,«b0 Collateral for F. R. notes: Gold certificate account 6,682 5 00 1,000 500 6c c 950 450 1,100 315 127 225 180 735 Eligible paper 51 6 45 U. S. Government securities 35,998 2,016 8,700 2,000 3,cco 2,812 2,075 6,500 1,31c 655 1,400 1,23 c 4,300 Total collateral 42,731 2,516 9,700 2,506 3,6cc 3,762 2,525 f,6co 1,670 782 1,625 1,410 5,035 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $191 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis