H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E tors Affecting Bank Reserves and dition Statement of F.R. Banks 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 I outright, and increases of $4l0 million in Treasury deposits with Federal Reserve I 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 $442 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 $84 million higher. KANSAS CITY, PUBLIC ]LIBRARY OCT- 31366 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 ___1266____ 1963 3-966___ (in millions of clollars) 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 + 11 b8 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 -442 +3,821 44,723 Gold stock 13,257 -- - 601 13,259 6,086 + 12 + 612 6,086 Treasury currency outstanding 64,7^2 -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 +4l0 + 71 1,313 foreign deposits with F. R. Banks 138 + 10 - 6l 159 Other deposits with F. R. Banks 401 - 2 + 202 4o4 Other F. R. accounts (net) 218 + 50 b 193 4'5,'5B5 +2§T +3,008 45,995 Member bank reserves: With Federal Reserve Banks 19,056 -711 + 82b 18,070 Currency and coin (estimated) 4,077 + 95 + 398 4,495 Total reserves held 23,133 -616 +1,222 22,565 Required reserves (estimated) 23,051 -lib +1,497 23,078 Excess reserves (estimated) 82 -502 - 275 -513 On September 28, 1966, U. S. Government securities held in custody by Jhe 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 Digitizae dy feoar rF RaAgSoE.R 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 T S Gold certificate account 10,968 6 - 970 Redemption fund for F. R. notes 1.824 + 25 + 175 Total sold certificate reserve^ * 12,792 + 19 - 795 Cash (933) 320 + 7 + 203 Discounts and advances 991 + 84 + 86l 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 - 366 +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 1/ 1,189 + 47 21 TOTAL ASSETS (2.714) 64.298 pg,098 +3,565 L I A B I L I T I E S 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 + 46i Foreign 159 + 44 “ 36 Other 2/ 4c4 + 4 + 191 Total deDOsits 19,946 - 743 + 889 Deferred availability cash items (1,781) 5,170 -1,280 + 618 Other liabilities and accrued dividends 220 3 - 116 TOTAL LIABILITIES (2,714) 63,032 -2,132 +3,493 C A P I T A L A C C O U N T S Capital paid in 566 •* m + 22 Surplus 551 — + 27 Other capital accounts ___M ±---2it + 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,714) 64,298 -2,098 +3,565 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 33.1$ + .1$ - 4.3$ 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. I/lncludes assets denominated in foreign currencies and IMF gold deposited. j/Includes IMF gold deposit.____________________________________________________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 28. 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 bays in accordance with maximum maturity of the agreements.) U. S, Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 975 4l 1,200 + 4l 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 -- — ___m Total 991 48 42,037 -366 Digitized for FRASER ** Less than $500,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 28, 1966 San Total Boston Nev Phila­ Cleve- Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E T S Gold certificate account 10,968 570 2,468 657 l,oo4 1,107 522 1,981 337 235 543 365 1,179 Redemption fund for F. R. notes 1,824 101 434 94 149 l68 105 327 63 33 71 6l 218 Total gold certificate reserves 12,792 671 2, 902 751 1,153 1,275 627 2,308 4oo 268 614 426~ 1,397 F. R. notes of other Banks 933 97 212 72 70 75 90 74 34 38 27 43 101 Other cash 320 l4 34 11 44 20 29 50 35 8 15 19 4i Discounts and advances 991 15 364 11 4 26 118 124 83 6 42 108 90 Acceptances: Bought outright 48 48 _ _ _ _ — — — — -- -- — -- Held under repurchase agreements -- -- -- -- - - — -- -- -— •* "" U. S. Government securities: Bought outright-- Bills 10,220 531 2,524 524 826 726 546 1,754 363 201 370 383 1,472 Certificates 4,366 227 1,079 224 353 310 233 749 155 86 158 164 628 Notes 21,013 1,091 5,191 1,078 1,699 1,492 1,123 3,605 746 415 760 767 3,026 Bonds 6,438 334 1,591 330 521 457 344 1,105 229 127 232 24l 927 Total 42,037 2,183 10,365 2,156 3,399 2,955" 2,246“ 7,213 1, **93 1,520 1,575 0,05^ Held under repurchase agreements - - -- -- -- -- -- -- -- -- — — — Total U. S. Government securities 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 Total loans and securities 43,076 2,198 10,797 2,167 3,403 3,oil 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 1,385 417 279 582 446 848 Bank premises io4 3 ■ 9 3 5 5 20 20 8 3 8 10 10 Other assets 1/ 1,189 48 4 56 52 86 58 57 150 35 22 42 4 9 13 4 TOTAL ASSETS 1 67,012 3,586 15,903 3,583 5,379 5,160 3,919 11,324 2,505 l,k53 2,850 2,676 8,674 1/ Jnclud.es 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 28, 1966 San Total Boston New Phila­ Cleve- Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco “Tin million3 of dollars) L I A B I L I T I E S Federal Reserve notes 38,629 2,314 8,8c8 2,192 3,214 3,513 2,218 7,o4o 1,422 701 1,456 1,244 4,507 Deposits: Member bank reserves 18,070 564 4,929 752 1,378 e42 920 2,744 642 432 812 937 3,H8 U.S. Treasurer--general account 1,313 111 ,/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 4o4 * -'334 1 1 5 1 1 1 * 2 1 57 Total deposits 19,9^6 683 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 1,122 337 232 427 359 662 Other liabilities and accrued dividends 220 11 55 11 18 16 12 37 8 4 8 9 31 TOTAL LIABILITIES 65,746 3,525 15,574 3,516 5,267 5,092 3,842 11,138 2,46l 1,423 2,795 2,605 8,508 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 149 7 38 _____ Z_ 11 11 9 25 _____ 3 6 6 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 67,012 3,586 15,903 3,583 5,379 5,160 3,919 11,324 _?,.505 1,453 2,850 2,676 8,674 Contingent liability on acceptances purchased for foreign c orre spondent s 248 12 3/ 65 13 22 13 _____ 35 9 6 11 14 33 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,515 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 6,547 5C0 1,000 500 6co 815 450 1,100 315 127 225 18C 735 Eligible paper 68 — -- 5 — — — — 83 U. S. Government securities 36,in i 2.016 8,700 2,000 3. coo 2,925. 2,075 6,500 1,310 655 1.40C 1.230 4.6CO Total collateral 43,046 2,516 9,700 2,505 3,6cc 3,740 2,525 7,600 1,708 782 1,625 1,410 5,335 l T // A A f -P- t 4- e ^ r -w, deduc^4t- iA ng $ d 1 m 1 4 1, m ™ i -! l 1 l 1 i -f on participations of other Federal Reserve Banks. I 2/ Includes IMF gold deposit. * Less than $5CC,OCO. 3/ After deducting $1<?3 million participations of other Federal Reseirve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis