H.4.1 Factors Affecting Reserve Balances of Depository Institutions

^ob*Gov&;^ 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 August 11, 1966 Figures on factors affecting hank 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 10, the average of daily figures of total member hank reserves held decreased a net of $124 million to $22,863 million. Estimated currency and coin of member hanks decreased $276 million and their re serve balances at the Federal Reserve Banks increased $152 million. Estimated re quired reserves decreased $l6l million; and estimated excess reserves increased $37 million to $399 million* Member hank borrowings at the Federal Reserve Banks exceeded excess reserves by $383 million, compared with the revised net borrowed figure of $Ul6 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $19^ million in U. S. Government securities held under repurchase agreements, and decreases of $l8l million in Treasury deposits with Federal Reserve Banks and $180 million in foreign deposits with Federal Reserve Banks* The principal offsetting changes were decreases of $115 million in Federal Reserve float and $56 million in U. 3. Government securities bought outright and in creases of $16^ million in currency in circulation and $115 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $30 million. As of Wednesday, August 10, holdings of U. S. Government securities bought outright were $l8l million lower than a week earlier, U. 3. Government securities held under repurchase agreements were $l6 million lower, and member bank borrowings were $^76 million lower. Averages of daily figures Member bank reserves, UNIVERSITY OF OREGGNE^ek ended Change from week ended Wednesday, Reserve Bank credit, Aug. 10, Aug. 3, Aug. 11, Aug. 10, and related items AUH 17 1966 1966 1966 .1965 1966 (in millions of dollars) Reserve Bank credit: LIBRARY U. S. Government securities— Bought outright—System account 42,231 - 56 +2,972 42,106 Held under repurchase agreements 352 +194 - 4o 342 Acceptances—bought outright - 1 + 13 48 Discounts and advances— Member bank borrowings 782 + 4 + 166 526 Other 4 + 4 + 1 Float 2,324 -115 + 844 2,030 Total Reserve Bank credit 45,7*6 + 30 +3,957 45,052 Gold stock 13,333 + 1 - 525 13,334 Treasury currency outstanding 6,003 +_12 + 581 6,009 65,079 + "44" +4,013 64,395 Currency in circulation 42,908 +164 +2,783 43,053 Treasury cash holdings 1,047 - 10 + 247 1,066 Treasury deposits with F.R. Banks 1,105 -181 + 55 990 Foreign deposits with F.R. Banks 139 -180 - 59 124 Other deposits with F.R. Banks 4o4 - 16 + 213 4io Other F. R. accounts (net) 283 +115 - 187 264 -108 +3,050 45,907 45,886 Member bank reserves: With Federal Reserve Banks 19A94 +152 + 964 18,488 Currency and coin (estimated) 3,669 -276 + 299 Al6£ Total reserves held 22,863 -124 +1,263 22,653 Required reserves (estimated) 22,464 -161 +1,287 22,413 Excess reserves (estimated) 399 + 37 - 24 240 On August 10, 1966, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,498 million, an increase of $80 million for the week and an increase of $385 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Aug. 10, Aug. 3, Aug. 11, 1966 1966 1965 A S S E TS " Gold certificate account 11,050 - 28 - 900 Redemption fund for F. R. notes 1>815 ± 6 + 181 Total gold certificate reserves 12,865 - 22 - 719 Cash (863) 281 4 + 171 Discounts and advances 526 - 476 + 234 Acceptances—"bought outright 48 -- + 12 U. S. Government securities: Bought outright— Bills 10,289 181 +2,225 Certificates 15 — + 15 Notes 25,326 — - 411 Bonds 6,476 zz +1*092 Total hought outright 42,106 - 181 +2,921 Held under repurchase agreements 31+2 16 + 68 Total U. 5. Government securities 42,448 - 197 +2,989 Total loans and securities 43,022 - 673 +3,235 Cash items in process of collection (l,407) 7,053 * 355 +1,140 Bank premises , 104 — + 3 Other assets i/ 1,151 + 42 + £9 TOTAL ASSETS (2,270) 64,47b -1,012 +3,909 L I A B TT T T T FS Federal~Reserve~notes (863)37,922 «• 180 +2,460 Deposits: Member hank reserves 18,488 322 +1,008 U. 3. Treasurer—general account 990 529 + 74 Foreign. 124 15 - 121 Other f=/ 1+10 _JJ + 218 Total deposits 20,012 - 849 +1,179 Deferred availability cash items (l,407) 5,023 - 371 + 391 Other liabilities and accrued dividends 208 - 5 - 195 TOTAL LIABILITIES (2,270) 63,165 -1,045 +3,835 C A P I T AL A C C O U N TS Capital paid in 564 — + 21 Surplus 551 -- + 27 Other capital accounts 196 + 33 + 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,270) 64,476 -1,012 +3,909 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 33.2$ .1$ - 4.5$ Contingent liability on acceptances purchased for foreign correspondents 269 + 7 + 121 * Figures in parentheses are the eliminations made in the consolidating process; I 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 AND SECURITIES, AUGUST 10, 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 DDiissccoouunnttss aanndd Changes advance Acceptances Holdings during week iS Within 15 days 512 14 7,486 -109 l6 days to 90 days 14 34 4,793 - 29 91 days to 1 year 14,798 - 59 Over 1 year to 5 years 13,622 Over 5 years to 10 years -- — 1,352 __ Over 10 years — -- ^^^3^9^7 __ ~2_ Total 526 48 42,448 -197 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(t) STATEMENT OF CCHDITICN OF EACH FEDEEAL RESERVE BANK ON AUGUST 10, I966 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 11,050 753 1,910 584 929 1,104 655 2,033 427 173 479 390 1,613 Redemption fund for F. R. notes 1,815 103 435 97 148 150 103 332 64 33 71 62 217 Total gold certificate reserves 1 12,865 | 856 2,345 681 1,077 1,254 758 2,365 491 206 550 452 1,830 F. R. notes of other Banks ' 863 ! 1 1364 209 78 54 84 75 66 27 39 33 43 91 Other cash - j 281 33 10 40 15 22 46 29 7 13 16 37 Discounts and advances j 526 | 26 122 16 3 48 90 142 23 6 27 21 2 1 Acceptances—bought outright 1 48 48 -- — -- " -- " -- -- — -- U. S. Government securities: Bought outright-- Bills 10,289 537 2,588 530 839 707 553 1,728 357 219 400 425 1,406 Certificates 15 I 1 4 1 1 1 2 -* 1 1 2 Notes 25,326 1,323 6,372 1,303 2,065 1,739 1,364 4,253 878 538 984 l,o46 3,461 Bonds 1 6,4761 338 1,629 333 528 445 349 1,088 224 138 252 267 885 Total 42,106 1 2,199 10,593 2,167 3,433 2,892 2,267 7,071 1,459 895 1,637 1,739 5,754 Held under repurchase agreements 342 -- 342 __ — -- -- — -- -- — -- — Total U. S. Government securities 42,448 2,199 10,935 2,167 3,433 2,892 2,267 7,071 1,459 895 1,637 1,739 5,754 Total loans and securities i 43,022 2,225 11,105 2,183 3,436 2,94c 2,357 7,213 1,482 901 1,664 1,760 5,756 Cash items in process of collection 8,460 516 1,498 508 627 668 718 1,317 4o6 272 564 433 933 Eank premises io4 3 5 20 20 8 3 8 10 10 Other assets 1/ 1,151 44? 52 8^ 57 54 146 32 21 4i 47 128 TOTAL ASSETS 66,746 3/724 15,644 3,515 5,320 5,023 4,co4 11,173 2,475 1,449 2,873 2,761 8,785 l/ Includes assets denominated in foreign currencies and IMF gold deposited. Less than $50C,0C0. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN AUGUST 10, 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 38,785 2,324 8,835 2,233 3,229 3,488 2,239 7,035 1,441 719 1,471 1,256 4,515 Deposits: Member bank reserves 18,488 761 4,810 710 1,341 857 1,08C 2,801 635 443 877 1,003 3,170 U.S. Treasurer--general account 990 87 169 64 85 89 60 88 46 29 81 71 121 Foreign 124 6 1/ 36 6 11 6 7 17 4 3 5 7 16 Other 410 * 2/325 l 6 3 2 * 2 67 Total deposits 20,012 854 5,340 781 1,437 958 1,150 2,908 686 475 966 1,083 3,374 "" Deferred availability cash items 6,430 471 1,075 421 522 493 525 999 296 220 372 341 695 Other liabilities and accrued dividends 208 11 53 10 16 11 11 ?6 7 5 8 Q 29 TOTAL LIABILITIES 65,435 3,660 15,303 3,445 5,204 4,952 3,925 10,978 2,430 1,419 2,817 2,689 8,613 CAPITAL ACCOUNTS Capital paid in 1 564 27 146 30 51 29 35 81 20 14 25 33 73 Surplus i 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 196 1 10 51 10 15 14 11 35 6 3 7 7 27 TOTAL LIABILITIES ANT CAPITAL ACCOUNTS : 66,746 ! .3J.I2.4_. 15,644 3,5.15- 5,320., 5,02.3 4,oo4 -11,173 2,,475_ 1.449 _.2,.873 _2 76l 8.785 ? Contingent liability on accept ances purchased for foreign correspondents 269__ ; 13_ -/ 70 i£_ 24 l4_ 16_ as_ 9_ 6 12 16 . ...35 .. FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,624 2,474 9,509 2,371 3,518 3,702 2,453 7,^80 1,533 763 1,581 1,368 4,872 Collateral for F. R. notes: Gold certificate account 6,662 500 1,000 500 6cc 930 450 1,100 315 127 225 180 735 Eligible paper 36 13 23 U. S. Government securities 35,998 2,016 8,700 2,000 3,cco 2,812 2,o.75._ 6,50c 1,310 655 1,400 1,230 4,300 Total collateral 42,696 2,516 9,700 2,513 3,600 3,742 2,525 7,600 1,648 782 1,625 i,4io 5,035 1/ After deducting $ 88 million participations of ether Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $199 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis