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 ^ftAL*^*' Condition Statement of F.R. Banks H.4.1 For immediate release August 25, 1966 Despite resumption of full airline service in the middle of the week ended August 24, figures on factors affecting reserves still are influenced by delays in check clearances resulting from the airline strike. The average of daily figures of total member bank reserves held decreased $210 million to $22,388 million. Esti mated currency and coin of member banks decreased $21 million and their reserve balances at the Federal Reserve Banks decreased $189 million. Estimated required reserves decreased $215 million; and estimated excess reserves increased $5 million to $277 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $442 million, compared with the revised net borrowed figure of $4^8 million the week before. The principal changes reducing average reserve balances with Federal Res erve Banks were decreases of $194 million in U. S. Government securities held under repurchase agreements and $20 million in gold stock, and an increase of $121 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $17 million in Federal Reserve float and $16 million in Treasury currency outstand ing, and a decrease of $106 million in currency in circulation. Total Reserve Bank credit decreased $184 million. As of Wednesday, August 24, holdings of U, S. Government securities bought outright were $38 million higher than a week earlier and member bank borrowings were $495 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug, 24, Aug. 17, Aug. 25, Aug. 2k, and related items 1966 1966 1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 41,813 + 4 +2,842 4i,671 Held under repurchase agreements — -194 - 163 -- Acceptances--bought outright ^7 -- + 11 48 Discounts and advances-- Member bank borrowings 719 - 11 + 173 803 Other 1 — -- 7 Float 2.541 + 17 + 849 1,7^ Total Reserve Bank credit 45,121 -184 +3,712 44,276 Gold stock 13,312 - 20 - 546 13,259 Treasury currency outstanding 6,030 + 16 + 589 6,034 6k,h63 -188 +3,756 63,569 Currency in circulation 42,89^ -106 +2,776 42,877 Treasury cash holdings l,c8l + 12 + 257 1,090 Treasury deposits with F. R. Banks 1,056 - 9 + 148 969 Foreign deposits with F, R. Banks 126 - 5 - 92 130 Other deposits with F. R. Banks 4oi - 13 + 223 422 Other F. R. accounts (net) 386 +121 - 192 363 45,944 + 1 +3,121 45,851 Member bank reserves: With Federal Reserve Banks 18,519 -189 + 634 17,718 Currency and coin (estimated) 3,869 - 21 + 233 4,279 Total reserves held 22,388 -210 + 867 21,997 Required reserves (estimated) 22,111 -215 +1,001 22,110 Excess reserves (estimated) 277 + 5 - 13+ - 113 On August 24, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,170 million, a decrease of <B03 million for the week and an increase of $24 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.h.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Aug. 24, Aug. 17, Aug. 25, 1966 1966 „ 1965 A S S E TS Gold certificate account 10,969 76 - 988 Redemption fund for F. R. notes 1,803 - 10 + 164 Total gold certificate reserves 12,772 - 86 - 82? Cash (900) 298 + 10 + 187 Discounts and advances 812 + 502 + 358 Acceptances—"bought outright 48 + 12 U. S. Government securities: Bought outright— Bills 9,854 38 +1,986 Certificates 4,366 +4,366 Notes 21,013 -3,737 Bonds 6,438 + 30 Total bought outright 41,671 + 38 +2,645 Held under repurchase agreements - 174 Total U, S. Government securities 4i,67l + 38 +2,471 Total loans and securities 42,531 + 540 +2,84i Cash items in process of collection .,672) 6,516 -1 ,938 + 861 Bank premises , io4 + 2 Other assets i/ 974 + 64 + 75 2H TOTAL ASSETS !,572) 63,195 ^1 +3,142 L I A B I L I T I ES Federal Reserve notes (900) 37,744 130 +2,402 Deposits: Member bank reserves 17,718 239 + 99 U. S. Treasurer--general account 969 1 + 157 Foreign. 130 3 - 87 Other 2/ (**) 422 + 10 + 238 Total deposits 19,239 - 233 + 407 Deferred availability cash items (1,672) 4,771 -l,08l + 433 Other liabilities and accrued dividends 202 — - l60 TOTAL LIABILITIES (2,572) 6l,956 -l,hhk +3,C82 C A P I T AL A C C O U N TS Capital paid in 565 + 21 Surplus 551 + 27 Other capital accounts 123 + 34 + 12 5251 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,572) 63,195 +3A42 Ratio of gold certificate reserves to F. R. note liability (computed from figures as show1n oonn the following pages—not consolidated) 33.1# .i# - 4.7$ Contingent liability on acceptances purchased jea _for foreign correspondents + 7 + 131 278 * 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. i/jJB^Lu^^gLJMSL^Qld deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 24, 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 advance Acceptances Holdings . -iuringjweek IS Within 15 days 798 38~ 1,592 -20 16 days to 90 days 12 10 4,880 - 9 91 days to 1 year 2 -- 19,9H +67 Over 1 year to 5 years .- „ 13,699 — Over 5 years to 10 years „ — 1,192 -- Over 10 years -- ... 397 — Total 812 58 4l,671 +38 ** Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 24, I966 Total Boston N Y e o w r k d P e h l i p l h a i a Cl l e a v n e d - j R m i o c n h d Atlanta'Chicago i L S ou t. i s M a i p n o n l e i s Ka C n i s t a y s Dallas Fr b a a n n cisco (in millions of dollars) A S S E TS Gold certificate account 10,969 633 2,291 614 923 1,057 627 1,959 391 186 447 423 1,418 Redemption fund for F. R. notes 1,803 102 430 152 145 102 331 64 33 71 61 216 Total gold certificate reserves 12,772 735 2,721 710 1,075 1,202 729 2,29c 455 219 -518- ~4~8T 17334 F. R. notes of other Banks 90 0 77 215 74 60 86 87 71 31 4o 35 43 61 Other cash 298 14 33 11 42 18 25 49 30 8 11 18 39 Discounts and advances 812 45 188 30 11 69 132 138 26 5 61 33 74 Acceptances—bought outright 48 48 U. S. Government securities: Bought outright— Bills 9,854 514 2,479 507 804 677 531 1,655 341 209 383 369 1,385 Certificates 4,366 228 1,096 225 356 300 235 733 151 93 170 164 613 Notes 21,013 1,098 5,286 1,081 1,713 1,443 1,131 3,529 729 447 817 787 2,952 Bonds M38 336 1,620 332 525 442 347 1,061 17 22 W 3 137 250 24i 904 Total 41,671 2,176 10,483 2,145 3739627862 27244 67998 8B6" I752C I75£I~ 5,655 Held under repurchase agreements Total U. Government securities 4l,, 671 2,176, 10,483 2 JM 3,336 2„,862 2,, 244 6,998 1,444 886 1.620 1.^61 ^Agh Total loans and securities 42,531 2,221 10,719 2,175 3,409 2,931 2,376 7,136 1,470 891 1,681 1,594 5,928 Cash items in process of collection 8,188 492 1,409 470 549 666 717 1,325 378 279 559 437 907 Bank premises . 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets -' 974 _3£_ 4o^ 43_ __£8_ 44 44 114 26 _JJL . 35 TOTAL ASSETS 65,767 3,580 15,509 3,486 5,208 4,952 3,998 11,005 2,398 1,457 2,847 2,625 8,702 l/ Includes assets denominated in foreign currencies and IMF gold deposited Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION CF EACE FEDERAL RESERVE EANK ON AUGUST 24, 1966 1 '] Dan Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas 1 1 Dallas 1 Fran- York delphia 1 land mond Louis apolis City I | '' ciaco (In millions; of dollars) L I A B I L I T I ES Federal Reserve nctes 38,644 2,311 8,819 2,217 3,222 3,479 2,223 7,022 1,431 711 1,455 1,250 4,504 Deposits: Member tank reserves 17,718 684 4,736 721 1,290 759 1,051 2,603 554 429 839 872 3,180 U. S« Treasurer--general account 969 52 137 72 76 81 70 85 64 52 77 66 117 Foreign 130 6 1/34 7 12 7 8 19 4 3 6 7 17 Other 422 * 2/359 * 3 1 1 l l 2 l 53 Total deposits 19,239 742 5,266 800 1,378 850 1,130 2,708 623 485 924 966 3,367 Deferred availability cash items 6,443 457 1,051 393 481 5^3 559 1,059 294 228 4c6 331 64i Other liabilities and accrued dividends 202 10 51 10 17 l4 11 34 7 4 8 8 28 TOTAL LIABILITIES 64,528 3,520 15,187 3,^20 5,098 k,tibb 3,923 10,823 2,355 l,42a 2,793 2,555 8,540 CAPITAL ACCOUNTS Capital paid in 565 27 147 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 123 6 31 6 9 9 7 22 4 2 5 5 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,767 3,580 15,509 3,486 5,208 4,952 3,998 11,005 2,398 1,457 2,847 2,625 8,702 Contingent liability on accept ances purchased for foreign correspondents 278 13 2/73 15 25 14 = 17 40 10 _ 7_ 12_ 16 36 FEDERAL RESERVE AaEffi" S ACCOUNTS F. R. notes outstanding 41, 558 J 2,463 "97TC 27349 37523 37703 "274Tfo~ "774BT 1,538 759 1,576 1,373 4,900 Collateral for F. R. notes: Gold certificate account 6,672! 500 1,000 500 60c 940 450 1,100 315 127 225 180 735 Eligible paper 36 i 10 26 U. S. Government securities 35,9781 2,016 8,700 2,oco 3,00c 2,792 2,075 6,500 1,310 655 l,4oo 1,230 4,300 Total collateral 42,686! 2,516 9,700 2,510 3,600 3,732 2,525 7,600 1,651 782 1,625 1,410 5,035 1/ After deducting $ 96 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $205 million participations of ether Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis