H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••HS^»A: F E D E R AL R E S E R VE Factors Affecting Bank Reserves and %^^^^' Condition Statement of F.R. Banks E.k.l For immediate release September 22, 1966 The average of daily figures of total member bank reserves held during the week ended September 21 increased a net of $52^ million to $23,7^0 million. Estimated currency and coin of member banks decreased $25 million and their reserve balances at the Federal Reserve Banks increased $5^9 million- Estimated required reserves increased $^59 million; and estimated excess reserves increased $65 million to $573 million. Member bank borrowings at the Federal Reserve Banks exceeded ex cess reserves by $198 million, compared with the revised net borrowed figure of $380 million the week before. The principal changes supplying average reserve balances with Federal Re serve Banks were an increase of $571 million in Federal Reserve float, and decreases of $228 million in currency in circulation, $213 million in Treasury deposits with Federal Reserve Banks, and $66 million in "other" F. R. accounts (net). The prin cipal offsetting changes were decreases of $370 million in U. S. Government securi ties bought outright, $117 million in member bank borrowings, and $4l million in U. S. Government securities held under repurchase agreements. Total Reserve Bank credit increased $50 million. As of Wednesday, September 21, holdings of U. S. Government securities bought outright were $220 million lower than a week earlier and member bank borrow ings were $66*4- million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended [Wednesday, Reserve Bank credit, Sept. 21, Sept. 14, Sept. 22, I Sept. 21, and related items 1966 1966 1965 ! 1966 (In EQ illions of cl ollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 42,525 -370 +3,904 42,403 Held under repurchase agreements - 41 - 87 Acceptances—bought outright 49 + 2 + 14 48 Discounts and advances-- Member bank borrowings 771 -117 + 144 895 Other 11 + 6 + 3 1 12 Float 2,^85 +571 - 54 2,256 Total Reserve Bank credit 45,841 + 50 +3,923 45,614 Gold stock 13,257 - 1 - 601 13,259 Treasury currency outstanding 6,074 + 5 + 604 6,070 65,172 + 53 64,943 +3,927 Currency in circulation 43,000 -228 +2,681 42,955 Treasury cash holdings 1,084 + 13 + 272 1,090 Treasury deposits with F.R, Banks 622 -213 - 401 1,079 Foreign deposits with P. R. Banks 128 + 3 - 59 115 Other deposits with F.R. Banks 403 - 6 + 196 4oo Other F. R, accounts (net) 168 - 66 - 52 209 45,405 -496 +2,637 45,848 Member bank reserves: With Federal Reserve Banks 19,767 +549 +1,289 19,095 Currency and coin (estimated) 3,973 - 25 + 337 4,389 Total reserves held 23,740 +524 +1,626 23,484 Required reserves (estimated) 23,167 +459 +1,488 23,252 Excess reserves (estimated) 573 +65 + 138 I 232 On September 21, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,104 million, a decrease of $83 million for the week and a decrease of $5^2 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.^.l(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Sept. 21, Sept, 14, Sept. 22, 1966 1966 1965 A S S E TS Gold certificate account 10,97^ + 1 - 957 Redemption fund for F. R. notes 1,799 6 + 146 Total gold certificate reserves * 12,773 5 - 811 Cash (919) 313 + 8 + 190 Discounts and advances 907 + 669 + 1 Acceptances--bought outright 48 + 12 U. S. Government securities: Bought outright-- Bills 10,586 220 +3,3^5 Certificates 4,366 +4,366 Notes 21,013 -3,815 Bonds 6,438 - 112 Total "bought outright 42,403 - 220 +3,784 Held under repurchase agreements Total U. S. Government securities 42,403 220 +3,784 Total loans and securities J+3,358 +~ 449 +3,797 Cash items in process of collection (2,083) 8,706 + 756 +1,020 Bank premises 104 + 2 Other assets 1/ .1,142 - as z 26 TOTAL ASSETS (3,002) 66,396 +1,173 +4,172 L I A B I L I T I ES Federal Reserve notes (919) 37,802 • 229 +2,282 Deposits: Member bank reserves 19,095 + 483 + 967 U. S. Treasurer--general account 1,079 + 504 + 79 Foreign 115 14 - 65 Other 2/ 400 2 + 192 Total deposits 20,689 + 966 +1,173 Deferred availability cash items (2,083) 6,450 + 408 + 750 Other liabilities and accrued dividends 223 6 - 100 TOTAL LIABILITIES (3,002) 65,164 +1- ,139 +4,105 C A P I T AL A C C O U N TS Capital paid in ~ 566 1 + 22 Surplus 551 + 27 Other capital accounts 115 + 33 + 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (3,002) 66.396 •HA73 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shewn on the following pages--not consolidated) 33.0$ .1$ «• 4.5$ Contingent liability on acceptances purchased for foreign correspondents 257 - 18 + 116 * 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. £/Includes IMF gold deposit. _- MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 21, 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 advances Ac<s eptances Holdings during week Within 15 days 8899I1 99 11,,11559 9 -139 16 days to 90 days 116 6 339 9 55,7,^72^ 2 +109 91 days to 1 year —„ —— 2200,2,12414 y^Q m Over 1 year to 5 years — — 13,699 Over 5 years to 10 years -- -- 1,192 Over 10 years ~r 397 Total 907 k8 42,^03 -220 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 21, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne-j Kansas Dallas Fran York delphia land mond Louis apolis i City cisco (in millions of dollars) A S S E TS Gold certificate account 10,974 671 1,803 547 1,003 1,053 584 2,24l 494 245 534 410 1,389 Redemption fund for F. R. notes 1,799 100 426 94 150 l49 105 329 63 33 70 61 219 Total gold certificate reserves 12,773 771 2,229 64l 1,153 1,202 689 2,570 557 278 604 471 1,608 F. R. notes of other Banks 919 90 209 75 63 83 92 69 31 38 31 42 96 Other cash 313 15 35 10 43 19 27 49 33 7 15 19 4i Discounts and advances 907 10 190 6 6 23 137 280 39 19 27 100 70 Acceptances—bought outright 1 48 48 U„ S. Government securities: Bought outright— Bills 10,586 550 2,759 542 856 752 566 1,762 354 209 383 385 1,468 Certificates 4,366 227 1,138 224 353 310 233 727 146 86 158 160 604 Notes 21,013 ! 1,091 5,477 1,078 1,699 1,492 1,123 3,497 703 4i5 760 765 2,913 Bonds 1 6,438 ! 334 1,678 330 521 457 344 1,072 215 127 232 235 893 Total 42,403 ! 2,202 11,052 2,174 3,429 3,011 2,266 7,058 l,4lb 837 1,533 1,5^5 5,878 Held under repurchase agreements Total U. S. Government securities 42,403 2,202 11,052 2,174 3A29 3,011 2,266 7,058 1,418 837 1,533 1,545 5,878 Total loans and securities i 43,358 2,212 11,290 2,180 3,435 3,034 2,403 7,338 1,457 856 l,56o 1,645 5,948 Cash Items in process of collection 10,789 632 2,083 650 723 836 840 1,758 523 346 720 556 1,122 Bank premises 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets 1/ 1,142 46 449 52 82 5^ 54 l4o 32 21 4o 46 126 TOTAL ASSETS 69,398 3,769 16,304 3,6ll 5,504 5,233 4,125 11,944 2,64i 1,549 2,978 2,789 8,951 l/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,C00. 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 21, 1966 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes . 38,721 2,314 8,816 2,198 3,223 3,505 2,230 7,064 1,429 705 1,461 1,248 4,528 Deposits: Member bank reserves 19,095 774 4,983 764 1,486 863 1,025 3,047 668 476 886 956 3,167 U.S. Treasurer--general account 1,079 44 288 45 25 93 74 162 67 37 73 61 110 Foreign 115 5 1/33 6 10 6 7 16 4 3 5 6 14 Other 4oo 1 2/326 * * 7 12 1 1 1 60 Total deposits 20,689 824 5,630 815 1,521 969 1,107 3,227 740 516 965 1,024 3,351 Deferred availability cash items 560 1,479 521 632 678 701 1,436 422 294 491 438 881 8,533 Other liabilities and accrued dividends 223 11 59 11 19 15 12 37 7 5 8 9 30 TOTAL LIABILITIES 68,166 3,709 15,984 3,545 5,395 5,167 4,050 11,764 2,598 1,520 2,925 2,719 8,790 CAPITAL ACCOUNTS Capital paid in 566 | 27 147 30 51 29 35 82 20 14 25 33 73 Surplus ! 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 115 i 6 29 6 8 9 7 19 4 2 4 5 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 169,398 i 3,769 16,3C4 3,611 5,504 5,233 4,125 JL1,_9_44_ jy34i__ 1,549 2,978 2,789 8,951 Contingent liability on accept ances purchased for foreign corre spondent s ! 257._ ! i £_ 2/ 67 14_ 23 13 16 37 9 6 11 _. 15 34 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,411 2,319 3,531 3,719 2,464 7,496 1,548 752 1,575 1,363 4,945 Collateral for F. R. notes: Gold certificate account 1,000 500 600 795 450 1,100 315 127 225 180 735 Eligible paper 5 39 U. S. Government securities 8.700 2.000 3,000 2,950 2,075, 6,500 .IT 310 _65_L l,4oo 1,230 4,600 Total collateral 9,700 2,505 3,600 3,745 2,525 7,600 1,664 782 1,625 1,410 5,335 1/ After deducting $ 82 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $190 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.••^SSM<- F E D E R AL R E S E R VE Factors Affecting Bank Reserves and y X:i^^ Condition Statement of F.R. Banks H For immediate release September 29, 1966 The average of daily figures of total member bank reserves held during the week ended September 28 decreased a net of $6l6 million to $23,133 million. Estimated currency and coin of member banks increased $95 million and their reserve balances at the Federal Reserve Banks decreased $711 million. Estimated required reserves decreased $ll4 million; and estimated excess reserves decreased $502 million to $82 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $568 million, compared with the revised net borrowed figure of $187 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $288 million in Federal Reserve float, $121 million in member bank borrowings, and $32 million in U. S. Government securities bought outright, and increases of $^10 million in Treasury deposits with Federal Reserve Banks and $50 million in "other" F. R. accounts (net). The principal offsetting change was a decrease of $196 million in currency in circulation. Total Reserve Bank credit decreased $kk2 million. As of Wednesday, September 28, holdings of U. S. Government securities bought outright were $366 million lower than a week earlier and member bank borrowings were $8^+ million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 28, Sept. 21, Sept. 29, Sept. 28, and related items 1966 1966 1965 1966 (In ii lllions of cL ollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 42,493 - 32 +3,419 42,037 Held under repurchase agreements Acceptances-- Bought outright 47 - 2 f 11 48 Held under repurchase agreements — -- 10 — Discounts and advances— Member bank borrowings 650 -121 + 97 979 Other 12 + 1 + 6 12 Float 2,197 -288 + 299 1,647 Total Reserve Bank credit 45,399 ^2 +3,821 44,723 Gold stock 13,257 -- - 601 13,259 Treasury currency outstanding 6,086 + 12 + 612 6,086 6^,742 -430 +3,832 64,068 Currency in circulation 42,804 -196 +2,518 42,838 Treasury cash holdings 1,092 + 8 + 281 1,091 Treasury deposits with F. R. Banks 1,032 +4io + 71 1,313 Foreign deposits with F. R. Banks 138 + 10 - 61 159 Other deposits with F. R. Banks 401 - 2 + 202 4o4 Other F.R, accounts (net) 218 + 50 4 193 45,686 +281 +3,008 45,998 Member bank reserves: With Federal Reserve Banks 19,056 -711 + 824 18,070 Currency and coin (estimated) 4,077 + 95 + 398 4,495 Total reserves held 23,133 ^16" +1,222 22756"5 Required reserves (estimated) 23,051 -114 +1,497 23,078 Excess reserves (estimated) 82 -502 - 275 -513 On September 28, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,097 million, a decrease of $7 million for the week and a decrease of $501 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 BANKS (In millions of dollars) Change since Sept. 28, Sept. 21, Sept. 29, 1966 1266 1965 A S S E TS 10,968 6 - 970 Gold certificate account Redemption fund for P. R. notes 1,824 + 2£ + 17j Total gold certificate reserves * 12,792 + 19 - 795 Cash (933) 320 + 7 + 203 Discounts and advances 991 + 84 + 861 Acceptances: Bought outright 48 + 10 Held under repurchase agreements — - 23 U. S. Government securities: Bought outright— Bills 10,220 - 366 +2,029 Certificates 4,366 +4,366 Notes 21,013 -3,815 Bonds 6.438 - 112 Total bought outright 42,037 - 366 +2,468 Held under repurchase agreements Total U. S. Government securities 42,037 ^66 +2,468 Total loans and securities 43,076 - 282 +3,316 Cash items in process of collection 1,781) 6,817 -1,889 + 860 Bank premises 104 + 2 Other assets l/ 1,189 + 4j - 21 TOTAL ASSETS 2,714) 64,298 -2,098 L I A B I L I T I ES Federal Reserve notes (933) 37,696 - 106 +2,102 Deposits: Member bank reserves 18,070 -1,025 + 273 U. S. Treasurer—general account 1,313 + 234 + 461 Foreign 159 + 44 - 36 Other 2/ 4c4 + 4 + 191 Total de-posits 19,946 - 7^3 + 889 Deferred availability cash items (l,78l) 5,170 -1,280 + 6l8 Other liabilities and accrued dividends 220 - 1 - 116 TOTAL LIABILITIES (2,71*0 63,032 -2,132 +3^93 C A P I T AL A C C O U N TS Capital paid in 566 + 22 Surplus 551 + 27 Other capital accounts l49 ± 2it + 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,71*0 64,298 -2,098 ±1*565 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 33.1# s -1$ ~ ^-3* Contingent liability on acceptances purchased for foreign correspondents 248 9 + 99 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, 1/lncludes assets denominated in foreign currencies and IMF gold deposited. ^/Includes.,IMF gold deposit. MATURITY piSTRIBUTigN_OF LOANS AND SECURITIES. SEPTEMBER 28, 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 2S Aces eptances Holdings during week Within 15 days 975 4l 1,200 + 41 16 days to 90 days 16 7 5,589 -153 91 days to 1 year ** — 19,960 -254 Over 1 year to 5 years -- — 13.699 -- Over 5 years to 10 years -- — 1,192 — Over 10 years zz 321 zz. Total 991 48 42,037 -366 •#•*• Tooo +^nv, <kmr\ nnr\ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BMK ON SEPTEMBER 28, 1966 San New Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions3 of dollars) A S S E TS Gold certificate account 10,968 570 2,468 657 1,004 1,107 522 1,981 337 235 5^3 365 1,179 Redemption fund for F. R. notes 1,82U 101 43^ 9^ 149 168 105 327 63 33 71 61 218 Total gold certificate reserves 12,792 ; 671 2,902 751 1,153 1,275 627 2,308 400 268 614 426 1,397 F. R. notes of other Banks 1 933 ! 97 212 72 70 75 90 74 34 38 27 ^3 101 Other cash ; 320 14 3^ 11 44 20 29 50 35 8 15 19 4l Discounts and advances 991 15 364 11 4 26 118 124 83 6 42 108 90 Acceptances: Bought outright ! h& 48 -- -- „ -- -- -- -- -- -.- -- Held -under repurchase agreements -- -- „ -- -- -* -- -- -- " -- -- U. S. Government securities: Bought outright— Bills 10,220 I 531 2,524 524 826 726 546 1,754 363 201 370 383 1,472 Certificates 1 ^,366 227 1,079 224 353 310 233 749 155 86 158 164 628 Notes 1 21,013 1,091 5,191 1,078 1,699 1,492 1,123 3,605 746 760 787 3,026 Bonds 6,^38 33^ 1,591 330 521 457 344 1,105 229 127 232 24l 927 Total 42,037 2,183 10,385 2,156 3,399 2,985 2,246 7,213 1,493 829 1,520 1,575 6,053 1 Held \onder repurchase agreements : -- -- -- " -- -- -- -- -- -- -- Total U. S. Government securities ; 42,037 1 2,183 10,385 2,156 3,399 2,985 2,246 7,213 1,^93 829 1,520 1,575 6,053 Total loans and securities 43,076 2,198 10,797 2,167 3,^03 3,oii 2,364 7,337 1,576 835 1,562 1,683 6,143 Cash items in process of collection 8,598 555 1,493 527 618 716 732 1,385 4i7 279 582 446 848 Bank premises 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets 1/ 1,189 48 456 52 86 58 57 150 35 22 42 h9 13^ TOTAL ASSETS 67,012 3,586 15,903 3,583 5,379 5,l6o 3,919 11,324 2,505 1,^53 2,850 2,676 8,67^ 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.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 28, 1966 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Mirme - Kansas Dallas Fran York delphia land mond Louis apolis City cisco TiF millions of dollars) L I A B I L I T I ES Federal Reserve notes 38,629 ! 2,314 8,808 2,192 3,214 3,513 2,218 7,040 1,422 701 1,456 1,244 ^,507 Deposits: 1 Member bank reserves 18,070 564 4,929 752 1,378 842 920 2,744 642 432 812 937 3,118 U.S. Treasurer--general account 1,313 111 l7 247 95 107 117 126 172 46 50 83 46 113 Foreign 159 8 8 14 8 9 22 5 4 7 9 20 Other 404 * 2/33U 1 l 5 1 1 1 •* 2 1_ §X_ Total deposits 19,946 683 5,555 856 1,500 972 1,056 2,939 694 486 904 993 3,308 Deferred availability cash items 6,951 517 1,156 457 535 591 556 1,122 337 232 427 359 Other liabilities and accrued 662 dividends 220 11 55 11 18 16 12 37 8 4 8 9 TOTAL LIABILITIES 65,746 3,525 15,57^ 3,516 5,267 5,092 3,842 11,138 2,46l 1,423 2,795 2,605 8,5 3 0 1 8 CAPITAL ACCOUNTS Capital paid in 566 27 147 30 51 29 35 82 20 14 25 33 73 Surplus 551 i 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts i 149 1 7 38 7 11 11 9 25 5 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS \6j_;012_ 3,586 15,903 3,583 5,379 5,160 3,919 11,324 2,505 1,^53 2,850 _2,676 8,674 Contingent liability on accept ances purchased for foreign correspondents ! 248 1 12 1/ 65 13 22 13..-. .15 ...35 9 6 11 14 33 FEDERAL RESERVE AGENT'S ACCOUNTS1 F. R. notes outstanding ^1,515 2,470 9,438 2,314 3,516 3,718 2,446 7,479 1,539 748 1,569 1,365 4,913 Collateral for F. R. notes: Gold certificate account 6,5^7 | 500 1,000 500 6oc 815 450 1,100 315 127 225 180 735 Eligible paper 88 5 83 U. S. Government securities 136,411 2,016 8,700 2,000 3,000 2,925 2,075 6,500 1,310 655 1,400 1,230 4,600 Total collateral 43,046 2,516 9,700 2,505 3,600 3,740 2,525 7,600 1,708 782 1,625 i,4io 5,335 1/ After deducting $114 million participations of other Federal Reserve Banks. 2/ includes IMF gold deposit. * Less than $500,000. 3/ After deducting $183 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis