H.4.1 Factors Affecting Reserve Balances of Depository Institutions

..vpiy^:-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and *-.f^rs^- Condition Statement of F.R. Banks H.4.1 For immediate release September 15,1966 The average of daily figures of total member bank reserves held during the week ended September l4 increased a net of $475 million to $23,175 million. Estimated currency and coin of member banks increased $238 million and their re serve balances at the Federal Reserve Banks increased $237 million. Estimated required reserves increased $374 million; and estimated excess reserves increased $101 million to $478 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $410 million, compared with the revised net borrowed figure of $372 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $160 million in Federal Reserve float, $139 million in member bank borrowings, and $4l million in U. S. Government securities held under repurchase agreements, and decreases of $153 million in Treasury deposits with Federal Reserve Banks.and $52 million in "other" F. R. accounts (net). The prin* cipal offsetting changes were a decrease of $82 piillion in U. S. Government securities bought outright and an increase of $246 million in currency in circulation. Total Reserve Bank credit increased $260 million. As of Wednesday, September lh holdings of U. S. Government securities } bought outright were $368 million lower than a week earlier and member bank borrowings were $448 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. l4, Sept. 7, Sept.15, Sept 14,, and related items 1966 1966 1965 1 1966 (In i oillions of c lollars) i Reserve Bank credit: U. S. Government securities- Bought outright—System account 42,895 - 82 +3,807 42,623 Held under repurchase agreement^ 4i + 4l + 4i -- Acceptances--bought outright 47 - 2 + 12 48 Discounts and advances— Member bank borrowings 888 +139 + 330 231 Other 5 + 3 1 7 Float ~LM +160 + 93 1,908 Total Reserve Bank credit ^5,791 +260 +4,283 44,817 Gold stock 13>258 — - 599 13,259 Treasury currency outstanding 6,069 + 19 + 599 6,069 65,119 +280 +4,284 j 64,145 Currency in circulation 43,228 +246 +2,740 ^3,193 Treasury cash holdings 1,071 + 8 + 262 1,083 Treasury deposits with F. R. Banks 835 -153 - 152 575 Foreign deposits with F.R, Banks 125 - 2 - 87 129 Other deposits with F. R. Banks 409 - 1 + 218 407 Other F.R. accounts (net) 234 - 52 - 78 146 **5,901 + 44 +2,901 ^5,533 Member bank reserves; With Federal Reserve Banks 19,218 +237 +1,382 [ 18,612 Currency and coin (estimated) 3,951 +238 + 208 ! 4.468 Total reserves held 23,175 +475 +1,590 1 23,080 Required reserves (estimated) 22,697 +374 +1,579 22,828 Excess reserves (estimated) 478 +101 + 11 1 252 On September 14, I966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,187 million, an increase of $1 million for the week and a decrease of $202 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hi4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESEEVE BANKS (In millions of dollars) Change since Sept. Ik, Sept. 7, teyt. 15, 1966 1966 1965 A S S E TS =* Z — Gold certificate account 10,973 - 11 - 959 RedTeomtpatli ogno ldfu ncder tfiofri cFa.t eR .r ensoetrevse s 12 1 , , 7 8 7 0 8 5 - + . ^ 7 " ± 8° 1 9 5 0 Cash (8*9) 305 + 6 + 188 Discounts and advances 238 - 443 - 3 48 - + 12 Acceptances--bought outright U. S. Government securities: Bought outright-- 10,806 368 +3,216 Bills 4,366 -- +4,366 Certificates 21,013 — -3,815 Notes Bonds 6,438 - 112 Total bought outright 42,623 - W> +3,655 Held under repurchase agreements ____11 ~Z yZZ. Total U. S. Government securities 42,623 - 368 +3,655 Total loans and securities ^2,909 - 8ll +3,664 Cash items in process of collection (1,855) 7,950 +1,607 + 135 Bank premises , 104 -- + 2 Other assets U 1, 111 + 17 + 31 TOTAL ASSETS (2,714) 65,223 + 8l5 +3,211 L I A B I T T T T ES Fe-deral"Reser^e"notes (859) 38,031 7^ +2,376 Deposits: Member hank reserves l8,6l2 + oO +1,128 U. S. Treasurer--general account 575 - ^52 - 571 Foreign, 129 - 13 - 67 Other 2/ 407 ± 10 + 196 Total deposits 19,723 - 395 + 686 Deferred availability cash items (1,855) 6,042 +1,400 + 186 Other liabilities and accrued dividends 229 - b Z 2it TOTAL LIABILITIES (2,71*0 64,025 + 925 +3,154 C A P I T AL A C C O U N TS Capital paid in 565 -- + 21 Surplus 551 — + 27 Other capital accounts 82 - HO ± 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,714) 65,223 + 815 +3.211 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32*9$ •!$ - ^% Contingent liability on acceptances purchased for foreign correspondents 275 - 1 +135 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, iylncludes assets denominated in foreign currencies and IMF gold deposited. ^Includes IMF gold deposit. , MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 14, 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 during week IS Within 15 days 226 12 1,298 - 8 16 days to 90 days 12 36 5,633 -3to 91 days to 1 year -_ -- 20,4o4 - 20 Over 1 year to 5 years — -- 13,699 -- Over 5 years to 10 years -- -- 1,192 -- Over 10 years -- -- _3_9_7 -- Total 238 58" 42,623 ::W Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OP CONDITION CF EACH FEDERAL RESERVE BAM OK SEPTEMBER l4, '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 10,973 56k 2,4l4 5^3 965 1,087 617 2,037 489 200 518 380 1,159 Redemption fund for F. R. notes 1,805 101 427 95 150 151 106 328 63 33 71 61 219 Total gold certificate reserves 12,778 665 2,841 638 1,115 1,238 723 2,365 552 233 589 441 1,378 F. R. notes of other Banks 859 82 197 76 56 78 91 67 29 38 28 33 84 Other cash 305 1^ 33 10 44 19 25 49 33 7 14 18 39 Discounts and advances 238 19 53 2 10 16 37 57 9 2 8 24 1 Acceptances—bought outright ^8 , 48 -- -- -- ~- -- -- -- -_ U. S. Government securities: Bought outright-- Bills 1 10,806 56l 2,785 55^ 874 768 578 1,798 36l 213 391 424 1,499 Certificates ! ^366 227 1,126 224 353 310 233 727 146 86 158 172 604 Notes i 21,013 1,091 1,078 1,699 1,492 1,123 3,497 703 760 825 2,913 Bonds 1 6,11381 33^ 1,660 330 521 457 3hk 1,072 215 127 232 253 893 Total 1 ^2,623 I 2,213 10,988 2,186 3,447 3,027 2,278 7,094 1,^25 84i 1,5^1 1,674 5,909 Held under repurchase agreements -- ! -- -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 1 ^2,623i 2,213 10,988 2,186 3,447 3,027 2,278 7,094 1,^25 84i 1,5^1 1,67^ 5,909 Total loans and securities ! ^2,909 2,232 11,089 2,188 3,457 3,o43 2,315 7,151 l ,^ 643 1,5^9 1,698 5,910 Cash items in process of collection ! 9,805 6c6 1,639 596 737 788 815 l, 580 508 324 666 520 1,026 Bank premises . ; io4 ! 3 9 3 5 5 20 20 8 3 8 10 10 Other assets i/ ! 1,177. ^7 1+58 53 85 56 56 144 3^ 22 42 50 130 TOTAL ASSETS 67,937 3,649 16,266 3,564 5,^99 5,227 ^,045 11,376 2,598 1,470 2,896 2,770 8,577 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 OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 14, 1966 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City 1 cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 38,890 2,324 8,855 2,208 3,235 3,513 2,243 7,070 1,435 709 1,470 1,254 4,574 Deposits: Member bank reserves 18,612 676 5,276 731 1,468 889 1,027 2,738 691 435 821 971 2,889 U.S. Treasurer—general account 575 15 108 22 25 75 64 47 29 17 62 38 73 Foreign 129 6 1/ 37 7 11 6 8 18 4 3 6 7 16 Other 407 * 2/331 3 * 9 12 l * 2 1 57 Total deposits 19,723 697 5,752 763 1,504 979 1,100 2,805 725 455 091 1,017 "•3,035"" Deferred availability cash items 7,897 559 1,288 518 634 656 617 1,288 388 272 475 421 781 Other liabilities and accrued dividends i_-229_ 11 60 12 20 16 12 38 8 5_ 8 9_ 30 TOTAL LIABILITIES 166,739 3,591 15,955 3,501 5,393 5,164 3,972 11,201 2,556 1,441 2,844 2,701 8,420 CAPITAL ACCOUNTS Capital paid in 1 565 1 27 1U7 30 51 29 35 81 20 14 25 33 73 Surplus 551 1 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts ; 82 i k 20 3 5 6 5 15 3 2 3 4 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 3,649 16,266 3,564 5,499 5,227 4,045 11,376 2,598 1,470 2,896 2,770 8,577 l.6.7>93_7_ Contingent liability on accept ances purchased for foreign correspondents 275 13 3/ 72 15 25 14 16 39 10 7 12 16 36 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,413 2,329 3,524 3,720 2,463 7,501 1,555 752 1,581 1,370 4,960 Collateral for F. R. notes: Gold certificate account 1,000 500 600 795 450 1,100 315 127 225 180 735 Eligible paper 2 9 U. S. Government securities 8,700 2,000 3,000 2,960 2,075 6,500 1,310 655 i,4oo 1,230 4,600 Total collateral 9,7CO 2,502 3,600 3,755 2,525 7,6oo 1,63^ 782 1,625 l,4lo 5,335 1/ After deducting $ 92 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000, 3/ After deducting $203 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis