H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•iiSsiK- F E D E R AL R E S E R VE Factors Affecting Bank Reserves and E.h'i3**4u^y Condition Statement of F.R. Banks For immediate release October 6, I966 The average of daily figures of total member bank reserves held during the week ended October 5 increased a net of $512 million to $23,6^5 million. Estimated currency and coin of member banks decreased $l80 million and their reserve balances at the Federal Reserve Banks increased $692 million. Estimated required reserves increased $179 million; and estimated excess reserves increased $333 million to $389 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $^39 million, compared with the revised net borrowed figure of $59^ million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $^96 million in U. S. Government securities bought outright and $178 million in member bank borrowings, and decreases of $339 million in Treasury deposits with Federal Reserve Banks and $130 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $372 million in Federal Reserve Float and increases of $59 million in currency in circulation and $kl million in other deposits with Federal Reserve Banks. Total Reserve Bank credit increased $323 million. As of Wednesday, October 5, holdings of U. S. Government securities bought outright were $1,225 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $68 million higher, and member bank borrowings were $150 million lower. Average2 s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 5, Sept. 28,* Oct. 6, Oct. 5, and related items 1966 1966 .1965 1966 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account if-2,989 +496 +3,139 43,262 Held under repurchase agreements 10 + 10 + 10 68 Acceptances— Bought outright 48 + 1 + 8 51 Held under repurchase agreements 7 + 7 - 30 49 Discounts and advances— Member bank borrowings 828 +178 + 292 829 Other 15 + 3 + 4 15 Float 1,825 -372 + 104 j 1,755 Total Reserve Bank credit 45,722 +323 +3,526 46,029 Gold stock 13,258 + 1 - 599 13,259 Treasury currency outstanding 6,099 + 13 + 621 6,112 65,080 +338 +3,549 ; 65,4co Currency in circulation 42,863 + 59 +2,371 43,081 Treasury cash holdings 1,100 + 8 + 306 1,103 Treasury deposits with F.R. Banks 693 -339 - 355 506 Foreign deposits with F.R. Banks 146 + 8 - 41 132 Other deposits with F. R. Banks 442 + 4i + 221 478 Other F.R. accounts (net) 88 -130 - 145 104 45,332 -354 +2,357 45,404 Member bank reserves: With Federal Reserve Banks 19,748 +692 +1,191 19,995 Currency and coin (estimated) 3,897 -180 + 4o2 3,998 Total reserves held 23,645 +512 +1,593 ! 23,993 Required reserves (estimated) 23,256 +179 +1,647 23,243 Excess reserves (estimated) 389 +333 - ^ 750 On October 5, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,222 million, an increase of $125 million for the week and a decrease of $496 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 EANKS (In millions of dollars) Change since Oct. 5, Sept. 28, Oct. 6, 1966 1966 1965 A S S E TS Gold certificate account 10,960 - 8 - 968 Redemption fund for F. R. notes 1.819 z 1 ±—1&2. Total gold certificate reserves .. 12,779 - 13 - 805 Cash (848) 317 3 + 207 Discounts and advances 844 - 147 + 333 Acceptances: Bought outright 51 + 3 + 12 Held under repurchase agreements ^9 + 49 + 13 U. S. Government securities: Bought outright— Bills 11,^5 +1,225 +3,032 Certificates 4,366 — +4,366 Notes 21,013 — -3,815 Bonds 6.438 zz - 112 Total bought outright 43,262 +1,225 +3'^& Held under repurchase agreements 22 + 68 + 00 Total U. S. Government securities 43,330 +1.293, +3>539 Total loans and securities 44,274 +1,198 +3,897 Cash items in process of collection (1,688) 7,025 + 208 + 895 Bank premises 104 — +2 Other assets l/ 1.345 + 156 + 110 TOTAL ASSETS (2,536) 65.844 +1.546 +4,306 L I A B TT I T T E S Federal~Rlsex^e~"notes*~ ~ (848)37,910 + 2l4 +2,072 Deposits: Member bank reserves ^9,995 +1,925 +2,064 U. S. Treasurer—general account 506 - 807 - 718 Foreign 132 - 27 - 51 Other 2/ 428 + 24 + 268 Total deposits 21,111 +1,563 +1,165 Deferred availability cash items (1,688) 5,270 + 100 + 683 Other liabilities and accrued dividends 252 + 3_2 - 94 TOTAL LIABILITIES +1,511 +4,224 (2,536) 64,543 C A P I T AL A C C O U N TS Capital paid in 566 + 21 Surplus 551 + 27 Other capital accounts 184 + 35. + sit TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,536) 65.844 +1,^6 +4.306 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 33.0$ .1$ - h.2f> Contingent liability on acceptances purchased for foreign correspondents 238 10 + 83 * 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. is/Includes IMF gold deposit. _ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 5, 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 DDiissccoouunnttss aanndd Changes aaddvvaanncceess AAcccceeppttaanncceess Holdings during week Within 15 days 826 55 1,070 - 130 16 days to 90 days 18 ^5 6,317 + 728 91 days to 1 year — — 20,655 + 695 Over 1 year to 5 years — — 13,699 — Over 5 years to 10 years — — 1,192 — Over 10 years — ~~ 397 — Total 8hk 100 ^3,330 +1,293 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 OCTOBER 5, 1966 1 San New Phila Cleve Rich St. Minne Kansas Total |B oston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS 1 Gold certificate account 10,960 658 2,479 578 932 1,048 608 1,915 409 198 432 392 1,311 Redemption fund for P. R. notes 1,819 ICO 433 2l_ 148 167 105 327 6j_ 33 70 61 218 Total gold certificate reserves 12,779 758 2,912 672 1,080 1,215 713 2,242 472 231 502 453 1,529 F. R. notes of other Banks 848 91 200 70 68 67 78 64 27 38 22 41 82 Other cash 317 14 34 11 44 19 30 48 35 8 15 20 39 Discounts and advances 844 27 322 5 8 34 89 165 34 27 94 38 Acceptances: Eought outright 51 — 51 — — -- — — — — — — Held under repurchase agreements 49 — 49 — — -- — — — — — — U. S. Government securities: Bought outright— Bills 11,445 592 2,908 587 936 816 605 1,927 369 221 436 430 1,618 Certificates 4,366 226 1,109 224 357 311 231 735 l4l 85 166 164 617 Notes 21,C13 1,C87 5,338 1,077 1,719 1,498 1,111 3,538 678 4c6 800 789 2,972 Bonds 6,438 1 333 1,635 330 527 459 340 1,084 208 125 245 242 910 Total 43,262 , 2,238 10,990 2,218 3,539 3,C84 2,287 7,284 1,396 837 1,647 1,625 6,117 Held under repurchase agreements 68 — 68 — — — — — — -- — -- -- Total U. S. Government securities '43,330 : 2,238 11,058 2.218 3.539 3.C84 2,287 7.284 1.396 837 1,647 1,625 6,117 Total loans and securities 44,274 2,265 ll,48o 2,223 3,5^7 3,118 2,376 7,449 1,430 838 1,674 1,719 6,155 Cash items in process of collection i 8,713 1 593 1,509 516 633 728 695 1,399 434 304 579 453 870 Bank premises 1 104 ! 3 9 3 5 5 20 20 8 3 8 10 10 Other assets 1/ 1,345 | 5£. 506 62 99 6_5_ 6^_ 170 3A_ 25 4$_ 5*7 153 TOTAL ASSETS 168,380 3,780 16,650 3,557 5,476 5,217 3,977 11,392 2,444 1,447 2,849 2,753 8,838 1/ 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 CN OCTOBER 5, 1966 i 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) L I A B I L I T I ES Federal Reserve notes 38,758 2,31^ 8,838 2,192 3,217 3,531 2,231 7,067 1,427 701 1,464 1,244 ^,532 Deposits: Member bank reserves 19,995! 83^ 5,719 796 1,533 903 1,059 2,9^0 579 454 862 1,016 3,300 U.S. Treasurer—general si c count 506 33 46 38 81 44 15 ^3 15 25 46 48 Foreign 132 6 6 11 6 7 17 4 3 5 7 16 Other 478 2/407 1 1 7 11 l * 2 1 56 Total deposits 21,111 873 6,242 849 1,583 997 1,111 2,973 627 472 894 1,070 3,420 Deferred availability cash items 6,958 517 436 540 602 5^+3 1,118 337 239 425 357 678 1,166 Other liabilities and accnl ed dividends 252 13 66 11 21 16 14 42 8 5 10 9 37 TOTAL LIABILITIES 67,079 3,717 16,312 3,^88 5,361 5,1^6 3,899 11,200 2,399 1,417 2,793 2,680 8,667 CAPITAL ACCOUNTS Capital paid in 566 27 lVjr 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 l81i- 9 47 9 14 14 10 31 6 3 7 8 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 68,380 3,780 16,650 3,557 5,476 5,217 3,977 11,392 2,444 1,^-7 2,849 2,753 8,838 Contingent liability on ace* eptances purchased for fore:L gn correspondents 238 1 11 3/62 13 22 12 14 3h 8 6 11 l4 31 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding kl,393 2,466 9,436 2,303 3,504 3,704 2,432 7,456 1,530 7^3 1,559 1,357 ^,903 Collateral for F. R. notes: Gold certificate account 6,547 500 1,000 500 600 815 450 1,100 315 127 225 180 735 Eligible paper 39 5 3h U. S. Government securities 36,431 2,016 8,700 2,000 3,oco 2,945 2,075 6,500 1,310 655 i,4oo 1,230 4,600 Total collateral ^3,017 2,516 9,700 2,505 3,600 3,760 2,525 7,600 1,659 782 1,625 l,4io 5,335 After deducting $ 86 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit, * Less than $500,000. 2,/ After deducting $176 million participaticns of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis