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 Condition Statement of F.R. Banks For immediate release September 8, 1966 The average of daily figures of total member bank reserves held during the week ended September 7 increased a net of $k9 million to $22,68^4- million. Estimated currency and coin of member banks decreased $35^ million and their reserve balances at the Federal Reserve Banks increased $403 million. Estimated required reserves increased $8l million; and estimated excess reserves decreased $32 million to $330 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $4l9 million, compared with the revised net borrowed figure of $329 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $380 million in U. S. Government securities bought outright and $58 million in member bank borrowings, and decreases of $95 million in Treasury deposits with Federal Reserve Banks and $66 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $21 million in Federal Reserve float and an increase of $215 million in currency in circulation. Total Reserve Bank credit increased $4l'7 million. As of Wednesday, September 7, holdings of U. S. Government securities bought outright were $1*73 million higher than a week earlier and member bank borrowings were $295 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 7, Aug. 31, Sept. 8, Sept. 7, and related items 1966 1966 1965 1966 (In nai llions of lco llars) Reserve Bank credit: U. S. Government securities— Bought outright--System account ^2,977 +380 +3,638 42,991 Held under repurchase agreements - 141 Acceptances-- Bought outright h9 -- + 13 48 Held under repurchase agreements - 35 Discounts and advances- Member bank borrowings lh9 + 58 + 266 679 Other 2 + 2 2 Float 1,75^ - 21 + 202 1,701 Total Reserve Bank credit 45,531 +417 +3,9^5 45,421 Gold stock 13,258 - 600 13,259 Treasury currency outstanding 6,050 + 10 + 588 6,053 64,839 +427 +3,933 64,733 Currency in circulation 42,982 +215 +2,675 ^3,265 Treasury cash holdings 1,063 - 19 + 256 1,071 Treasury deposits with F.R. Banks 988 - 95 + 90 1,027 Foreign deposits with F. R. Banks 127 - 11 - 116 142 Other deposits with F. R. Banks - 2 + 231 397 4l0 Other F.R. accounts (net) - 66 - 103 279 286 +~24" +3,033 46,181 557B57 Member bank reserves: With Federal Reserve Banks 18,981 +403 + 899 18,552 Currency and coin (estimated) 3,703 -35^ + 37+ 4,025 Total reserves held 22,684 + 49 +1,273 22,577 Required reserves (estimated) + 81 +1,315 22,35^ 22,426 Excess reserves (estimated) - 32 - 42 330 151 On September 7> 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $],±86 million, an increase of $lkk million for the week and a decrease of $85 million from the comparable date Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B, 4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Sept. 7, Aug. 31, Sept. 8, 1966 1966 _ 1965 A S S E TS Gold certificate account 10,984 + 1 - 966 Redemption fund for P. R. notes 1.798 - 1 + 155 Total gold certificate reserves 12,782 6 - 811 # Cash (807) 299 7 + 180 Discounts and advances 681 + 295 + 245 Acceptances: Bought outright 48 -- + 12 Held under repurchase agreements 23 U. S. Government securities: Bought outright-- Bills 11,174 h k'fx +3,336 Certificates 4,366 +4,366 Notes 21,013 -3,815 Bonds 6,438 - 112 Total "bought outright 42,991 + 473 +3,775 Held under rex>urchase agreements Total U. S. Government securities 42,991 + +3,775 Total loans and securities 43,720 + 768 +4,009 Cash items in process of collection (1,548) 6,343 8 + 844 Bank premises . 104 + 2 Other assets !/ 1,160 16 + 46 TOTAL ASSETS (2,355) 64,408 + 731 +4,270 L I A B I L I T I ES Federal Reserve notes (807) 38,105 + 376 +2,340 Deposits: Member bank reserves 18,552 +1 A53 +1,105 U. S. Treasurer--general account 1,027 587 + 76 Foreign 142 28 - 89 m Other 2/ +_ 2 + 222 Total deposits 20,118 + 540 +1,314 Deferred availability cash items (1,5^8) 4,642 - 224 + 675 Other liabilities and accrued dividends 235 + 4 - 139 TOTAL LIABILITIES (2,355) 63,100 + 696 +4,190 C A P I T AL A C C O U N TS Capital paid In 565 -- + 21 Surplus 551 — + 27 Other capital accounts 192 + 35 + 32 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,355) 64,408 + 731 +4,270 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.8$ .3$ - 4,6$ Contingent liability on acceptances purchased ___jfor foreign correspondents 276 + 4 + 1 34 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. iAlncludes assets denominated in foreign currencies and IMF gold deposited. £'Includes IMF gold deposit. _ MTfiRMT DISraiBUTION OF LOANS AND SECURITIES SEPTEMBER 7, 19c6 v (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 aaddvvaannccee s AAcccceeppttaanncceess Holdings during week IS Within 15 days 671 14 1,306 - 41 l6 days to 90 days 10 3h 5,973 +751 91 days to 1 year „ -- 20,424 -237 Over 1 year to 5 years — — 13,699 — Over 5 years to 10 years -- -- 1,192 -- Over 10 years " — _ 3 £Z — Total 681 48 42,991 +V73 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON SEFTEMBER 7, I966 — ._ San ! Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne-1 Kansas Dallas Fran York delphia land mond I | Louis apolisi1 City cisco (In millions of dollars) A S S E TS Gold certificate account ! 10,984! 695 2,293 548 966 1,034 630 2,042 407 178 397 332 1,462 Redemption fund for F. R. notes i 1,798 101 427 95 151 151 101 329 64 33 70, 61 215 Total gold certificate reserves | 12,782j 796 2,720 643 1,117 1,185 731 2,371 471 211 467 393 1,677 F, R. notes of other Banks i 8071 81 182 67 63 74 91 68 26 37 22 37 59 Other cash 299 14 32 10 43 17 26 48 33 8 13 17 38 Discounts and advances 681 37 100 22 4 15 111 195 59 3 40 33 62 Acceptances: Bought outright 1 48 -- 48 - - — *" *" *"" — "* — ~ ~* ~* — — *" - -- Held under repurchase agreements 1 -- -*~ -- -- U. S. Government securities: Bought outright- Bills 11,174! 580 2,847 573 903 794 598 1,842 374 237 437 439 1,550 Certificates 4,366 227 1,113 224 353 310 233 720 146 93 171 172 604 Notes 21,013 1,091 5,354 1,078 1,699 1,492 1,123 3,465 703 447 823 825 2,913 Bonds I 6,4381 334 1,640 330 521 457 344 1,062 215 137 252 253 893 Total 1 ^2,991 2,232 10,954 2,205 3,476 3,053 2,298 7,089 1,438 914 1,683 1,689 5,960 Held under repurchase agreements -- -- -- -- -- -- -- -- __ ~- -- Total U. S. Government securities ! 42,991 2,232 10,954 2,205 3,476 3,053 2,298 7,089 1,438 914 1,683 1,689 5,960 Total loans and securities 43,720 2,269 11,102 2,227 3,480 3,068 2,409 7,284 1,497 917 1,723 1,722 6,022 Cash items in process of collection 7,891 470 1,340 525 521 678 621 1,285 380 254 568 477 772 Bank premises . io4 3 9 3 5 5 20 20 8 3 8 10 10 Other assets i/ 1,160 47 450 52 83 54 55 i4i 33 22 47 49 127 TOTAL ASSETS 66,763 3,680 15,835 3,527 5,312 5,081 3,953 11,217 2,448 1,452 2,848 2,705 8,705 i 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.^.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 7, 1966 I • 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 38,912 2,322 8,866 2,215 3,230 3,506 2,248 7,063 1,^36 708 1,46G 1,253 ^,597 Deposits: Member bank reserves 18,552 692 5,011 742 1,367 884 1,063 2,814 585 464 848 932 3,150 U.S. Treasurer—general account 1,027 114 168 62 106 72 61 83 73 ^7 5^ 71 116 Foreign 142 7 1/ 38 8 13 7 9 20 5 3 6 8 18 Other 397 * 2/319 2 * 8 1 l 3 9 54 Total deposits 20,118 813 5,536 814 1,486 971 1,133 2,918 663 515 911 1,020 3,338 Deferred availability cash items 6,190 470 1,032 417 462 517 48c 1,004 296 193 403 350 566 Other liabilities and accrued dividends 235 i I2 61 11 , 19 16 13 38 8 6 10 9 32 TOTAL LIABILITIES 65,^55 3,617 15,^95 3,^57 5,197 5,010 3,87^ 11,023 2,403 1,422 2,792 2,632 8,533 CAPIT&^ACCCUMS 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 ; 192 9 49 10 14 14 11 3^ 6 3 7 8 27 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 166,763,,,L _3^680_ 15.835 3,527 5.312 5.081 3.953 11.217 2.448 1.^52 2.848 ....2,705 8,705 .. Contingent liability on accept ances purchased for foreign _c prre spondent s 276 13 ..1 / 72 15 25 14 17 39 10 7_ 12 16 36 FEDERAL RESERVE AGENT'S ACCCUNTS F. R. notes outstanding 41,570 2,469 9,4l6 2,339 3,530 3,698 2,462 7,486 1,525 756 1,583 1,376 J+,930 Collateral for F. R. notes: Gold certificate account 6,527 500 1,000 500 600 795 450 1,100 315 127 225 180 735 Eligible paper 62 3 59 U. S. Government securities 36,426 2,016 8,700 2,000 3,000 2,_940 2,075,_„_ 6,500_._ 1,310 655 i,4oo 1,230 4,6co Total collateral ^3,015 2,516 9,700 2,503 3,600 3,735 2,525 7,600 1,684 782 1,625 1,410 5,335 1/ After deducting $1C4 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit Less than $500,000. 3/ After deducting $204 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis