H.4.1 Factors Affecting Reserve Balances of Depository Institutions

• v;o£CovA*. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release August k, 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 August 3* the average of daily figures of total member bank reserves held increased a net of $U6 million to $22,980 million. Estimated currency and coin of member banks decreased $80 million and their reserve balances at the Federal Reserve Banks increased $126 million. Estimated required reserves decreased $57 million; and estimated excess reserves increased $103 million to $351 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $ij-27 million, compared with the revised net borrowed figure of $432 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $k±k million in U. S. Government securities bought outright, $158 million in U. S. Government securities held under repurchase agree ments, and $98 million in member bank borrowings, and a decrease of $102 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $336 million in Federal Reserve float and $7^ million in gold stock, and increases of $175 million in foreign deposits with Federal Reserve Banks and $70 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $317 million. As of Wednesday, August 3, holdings of U. S. Government securities bought outright were $30*1 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $358 million higher, and member bank borrowings were $32 million higher. Average s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 3, July 27, Aug. 4, Aug. 3, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 42,287 +4i4 +3,384 42,287 Held under repurchase agreements 158 +158 - 339 358 Acceptances--bought outright 50 - 15 + 15 48 Discounts and advances-- Member bank borrowings 778 + 98 + 234 1,C02 Other - 2 Float 2,^39 -336 + 999 2,0l4 Total Reserve Bank credit ^5,713 +317 +4,295 45,709 Gold stock 13,332 - 74 - 525 13,334 Treasury currency outstanding 5,991 + 22 + 568 5,997 65,035 +264 +4,337 65,o4o Currency in circulation 42,744 - 3 +2,800 42,853 Treasury cash holdings 1,057 - 19 + 260 1,048 Treasury deposits with P. R. Banks 1,286 + 70 + 383 1,519 Foreign deposits with F. R. Banks 319 +175 + 164 I 139 Other deposits with F. R- Banks 420 + 20 + 224 393 Other F. R. accounts (net) 168 -102 - 332 278 45,994 +139 +3,500 46,230 Member bank reserves: With Federal Reserve Banks 19,042 +126 + 838 18,810 Currency and coin (estimated) 3,938 - 80 + 359 4,113 Total reserves held 22,980 + 46 +1,197 22,923 Required reserves (estimated) 22,629 - 57 +1,232 22,723 Excess reserves (estimated) 351 +103 - 35 200 On August 3, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,4l8 million, an increase of $8 million for the week and an increase of $165 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 Aug. 3, July 27, Aug. 4, 1966 1966 1965 A S S E TS Gold certificate account 11,078 +20 - 872 Redemption fund for F- R. notes 1,809 - £ + 172 Total gold certificate reserves ^ 12,887 + l4 - 700 Cash (903) 285 + l4 •+ 168 Discounts and advances 1,002 +32 + 530 Acceptances—bought outright 48 - 6 • + 12 TJ. S. Government securities: Bought outright— Bills 10,^70 +304 +2,464 Certificates 15 ~ + 15 Notes 25,326 — - 411 Bonds 6,476 -- +1,092 Total bought outright 42,287 +304 +3,l6° Held under repurchase agreements 358 +358 - 327 Total u. s. Government securities 42,645 +662 +2,833 Total loans and securities "*" 43,695 +688 +3,375 Cash items in process of collection (l,58l) 7,4o8 +152 +1,488 Bank premises , 104 -- +2 Other assets & 1,109 + 87 + 66 TOTAL ASSETS (2,484) 65,488 +955 +4,399 L I A B I L I T I ES Federal Reserve notes (903) 37,742 + 45 +2,472 Deposits: Member bank reserves 18,810 +3^7 + 401 U. S. Treasurer—general account 1*519 +l8l + 711 Foreign, 139 - 10 - 19 Other £/ 393 - ^ + 209 ,302 Total deposits 20,86l +51^ +lj Deferred availability cash items (l,58l) 5,39^ +350 + 755 Other liabilities and accrued dividends 213 + 15 - 199 TOTAL LIABILITIES (2^8^) 6^,210 +92U +^. ,33© C A P I T AL A C C O U N TS Capital paid in "* 56^ + 22 Surplus 551 + 27 Other capital accounts 163 + 31 + 20 TOTAL LIABILITIES. ANDJSAPITAL ACCOUNTS (2, U8U) 65,^88 +955 +A, 399 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 33«3$> " ^-6$> Contingent liability on acceptances purchased for foreign correspondents 262 +3 + 113 * 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, ^•'Includes IMF gold deposit> MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, AUGUST 3. 19&5 (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 DDiissccoouunnttss aanndd Changes aaddvvaanncceess AAcccceeppttaanncceess Holdings during week Within 15 days 985 19 7,595 +6,100 16 days to 90 days 17 29 U,822 -5,390 91 days to 1 year -_ -- - i+8 1M57 Over 1 year to 5 years -- -- 13,622 -- Over 5 years to 10 years -- -- 1,352 -- Over 10 years -- -- 397 -- Total ^002 48 42,645 + 662 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 3, 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 11,078 684 1,915 678 1,213 694 2,035 523 180 398 299 1,469 Redemption fund for F. R. notes 1,809 103 436 97 148 143 103 332 64 33 71 62 217 Total gold certificate reserves 12,887 787 2,351 775 1,138 1,356 797 2,367 587 213 469 361 T76B6~ F- R- notes of other Banks 903 63 207 75 60 90 88 72 30 40 33 46 99 Other cash 285 13 33 11 42 16 22 47 28 8 12 16 37 Discounts and advances 1,002 33 124 17 15 53 94 259 111 54 87 147 48 48 Acceptances—"bought outright U- S. Government securities: Bought outright— Bills 10,47c ! 5*1 2,634 539 854 719 563 1,759 363 222 407 432 1,431 Certificates 15 l 4 1 l 1 2 * •* l l 2 Notes 25,326 1,323 6,372 1,303 2,065 1,739 1,364 4,253 878 538 984 1,046 3,^61 Bonds 6,476 338 1,629 333 528 445 349 i,cee 224 138 252 267 885 Total 42,287 2,209 10,639 2,176 3,448 2,9c4 2,277 7,102 1,465 898 " 1,644'" ' 1,746 5,779 Held under repurchase agreements ^8 358. Total U. S. Government securities J£J&5- 2.209 10,997 2,176 3,448 _2_, 9C4 - 2,277_ _L102„ 1,^65 89& 1,644 _A,746 5,779 Total loans and securities 43,695 2,242 11,169 2,193 3,^63 2,957 2,371 7,361 1,576 906 1,698 1,833 5,926 Cash items in process of collection 8,9891' 5^6 1,548 538 668 737 786 1,463 421 291 556 454 981 Bank premises / ic4j 3 9 3 5 5 20 2C 8 3 8 10 10 Other assets —' 1,109 ^5 ^22 50 80 55 53 142 32 20 4l 45 124 TOTAL ASSETS 67,972 1 3,699 15,739 3,645 5,^56 5,216 4,137 11,^72 2,682 i,48l 2,817 2,765 8,863 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 AUGUST 3, I966 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco L I A B I L I T I ES (In millionsJ of dol] L a rs) Federal Reserve notes 38,645 2,319 8,821 2,233 3,216 3,^80 2,228 7,005 1,437 718 1,465 1,251 4,472 Deposits: Member bank reserves 18,810 750 4,762 788 1,403 897 1,103 2,992 625 431 861 3,224 U.S. Treasurer--general account 1,519 58 1/231 93 l4c 175 117 149 164 70 63 93 166 ^ 32 Foreign 139 7 8 13 7 9 21 5 4 6 8 19 Other 393 * ^/327 * * 6 3 l l * 2 1 52 Total deposits 20,861 815 5,352 889 1,556 1,085 1,232 3,163 795 505 932 1,076 3,^bl Deferred availability cash items 6,975 493 1,179 444 55^ 568 589 1,078 399 224 356 358 733 Other liabilities and accrued dividends 213 10 55 11 17 14 11 36 7 4 9 9 30 TOTAL LIABILITIES 66,694 3,637 15,^07 3,577 5,343 5,147 4,c6o 11,282 2,638 1,451 2,762 2,694 8,696 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 13 24 32 72 19 Other capital accounts 163 8 42 8 12 12 9 30 5 3 6 6 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 67.972 3,699 15,739 _JL_6i5_ 5,^56 _5j_?l6„ M37 11,472 2,682 _^A8JL_ 2,817 2,765 8,863 Contingent liability on accept ances purchased for foreign correspondents 262 1 13 1/ 69 14 24 13 16 37 9 6 12 15 34 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,692 2,474 9,5^3 2,384 3,510 3,7H 2,459 7,^73 1,542 767 1,575 1,370 4,884 Collateral for F. R. notes: Gold certificate account 6,662 500 1,000 500 6oo 930 45 c 1,100 315 127 225 180 735 Eligible paper 128 17 111 U. S. Government securities 35,998 2,016 8,700 2,000 3,CC0 2,812 2,075 6,500 1,310 655 i,4oo 1,23 c 4,300 Total collateral 42,788 2,516 9,700 2,517 3,6cc 3,7^2 2,525 7,600 1,736 782 1,625 1,410 5,035 1/ After deducting $107 million pai" ticipatj. ons of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,0C0. 3/ After deducting $193 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis