H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.-iiSSSfc-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and ^LRtsf:*4 Condition Statement of F.R. Banks H>4il For immediate release October 13, 1966 The average of daily figures of total member bank reserves held during the week ended October 12 decreased $283 million to $23,355 million. Estimated currency and coin of member banks decreased $105 million and their reserve balances at the Federal Reserve Banks decreased $178 million* Estimated required reserves decreased $365 million; and estimated excess reserves increased $82 million to $417 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $511 million, compared with the revised figure of $493 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $20 million in U. S. Government securities bought outright and an increase of $365 million in currency in circulation. The principal offsetting changes were increases of $100 million in member bank borrowings, *• $55 million in Federal Reserve float, $37 million in acceptances held under repur chase agreements, and $22 million in Treasury currency outstanding, and a decrease of $13 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $169 million. As of Wednesday, October 12, holdings of U. S, Government securities bought outright were $429 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $68 million lower, and member bank borrowings were $386 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct* 12, Oct. 5, Oct. 13, Oct. 12, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 42,969 20 +3,220 42,833 Held under repurchase agreements 10 - 30 Acceptances — Bought outright 51 3 + 11 51 Held under repurchase agreements 44 37 + 26 42 Discounts and advances- Member bank borrowings 928 +100 + ^33 443 Other 19 + 4 + 7 15 Float 1,880 + 55 + 163 1,537 Total Reserve Bank credit 45,891 +169 +3,830 44,921 Gold stock 13,258 - 599 13,259 Treasury currency outstanding 6,121 + 22 + 628 6,122 65,270 +190 +3,860 64,302 Currency in circulation 43,228 +365 +2,4l4 43,376 Treasury cash holdings 1,099 - l + 297 1,117 Treasury deposits with P. R. Banks 680 - 13 - 341 718 Foreign deposits with F. R. Banks 157 + 11 - 21 134 Other deposits with F. R. Banks 445 + 3 + 227 452 Other F. R. accounts (net) 92 + 4 - Ill 41 45,701 +369 +2,465 £5,838 Member bank reserves: With Federal Reserve Banks 19,570 -178 +1,395 18,463 Currency and coin (estimated) 3,785 -105 + 255 4,282 Total reserves held 23,355 -283 +1,650 22,745 Required reserves (estimated) 22,938 -365 +1,533 22,892 Excess reserves (estimated) 417 + 82 + 117 - 147 On October 12, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,287 million, an increase of $65 million for the week and a decrease of $500 million from the comparable date & vear aero. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 12, Oct, 5, Oct. 13, 1966 1966 196$ A S S E TS Gold certificate account 10,960 - 967 Redemption fund for F. R. notes 1,813 6 + 162 Total gold certificates reserves 12,773 1 - 805 Cash (7*0) 310 7 + 198 Discounts and advances 458 386 - 492 Acceptances: Bought outright 51 + 12 Held under repurchase agreements 42 + 25 U. S. Government securities: Bought outright-- Bills 11,016 429 +2,701 Certificates 4,366 +4,366 Notes 21,013 -3,815 Bonds 6,438 - 112 Total bought outright 4^7813 - 4~29 +3,140 Held under repurchase agreements - 68. - 207 Total U. S. Government securities 42,833 - 497 +2,933 Total loans and securities 43,384 - 890 +2,4T5 Cash items in process of collection (1,754) 7,037 12 + 358 Bank premises 10*! + 2 Other assets l/ 46 + 135 1,391 TOTAL ASSETS "BT+5 +2,366 (2,494) 64,999 L I A B I L I T I ES Federal Reserve notes (740) 38,196 ¥ 286 +2,088 Deposits: Member bank reserves 18,463 -1,532 + 124 U. S. Treasurer--general account 718 + 212 - 198 Foreign 134 + 2 - 34 Other 2/ (409) 539 + 6l + 344 Total deposits (409) 19,854 -1,257 + 236 Deferred availability cash items (1,432) 5,413 + 143 - 55 Other liabilities and accrued dividends 254 + 2 - !t9 TOTAL LIABILITIES (2,494) £37717 - 826 +2,220 C A P I T AL A C C O U N TS Capital paid in 566 + 21 Surplus 55I + 27 Other capital accounts 165 19 + 98 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,494) 64,999 +2,366' Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32.8$ .2$ - 4.2$ Contingent liability on acceptances purchased for foreign correspondents 234 - 4 + 80 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages, l/lncludes assets denominated in foreign currencies and IMF gold deposited. 2,/lncludes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 12,1966 (Acceptances and securities held under repurchase agreements are classifiedj.as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 51 1,078 + 8 16 days to 90 days 16 42 6,127 -190 91 days to 1 year 20,340 -315 Over 1 year to 5 years 13,699 Over 5 years to 10 years 1,192 Over 10 years , 397 Total 435 93 42,833 -497 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF COHDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 12,1966 —1 San New Phila Cleve Rich- St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 10,960' 698 1,900 623 901 1,097 755 1,780 567 240 517 381 1,501 Redemption fund for F. R. notes 1,813 100 432 93 148 165 105 326 63 33 70 61 217 Total gold certificate reserves 12,773 798 2,332 716 1,049 1,262 860 2,106 630 273 587 442 1,718 F. R. notes of other Banks 740 74 185 54 57 63 68 61 24 30 25 30 69 Other cash 310 14 32 11 42 19 30 46 34 7 15 21 39 Discounts and advances 458 5 54 5 10 18 67 193 6 6 3 88 •3 Acceptances: Bought outright 51 -- 51 — — — — — — — — Held under repurchase agreements 42 42 — U. S. Government securities: Bought outright— Bills 11,016 570 2,799 564 901 786 582 1,855 355 213 420 414 1,557 Certificates 4,366 226 1,109 224 357 311 231 735 141 85 166 164 617 Notes 21,013 1,087 5,338 1,077 1,719 1,498 1,111 3,538 678 4o6 800 789 2,972 Bonds 6,438 333 1,635 330 527 459 340 1,084 208 125 245 242 910 Total 42,833 2,216 10,881 2,195 3,504 3,054 2,264 7,212 1,382 829 1,631 1,609 6,056 Hsld under repurchase agreements Total U. S. Government securities 42,833 2,216 10,881 2,195 3,504 3,054 2,264 7,212 1,382 829 1,631 1,609 6,056 Total loans and securities 43,384 2,221 11,028 2,200 3,514 3,072 2,331 7,405 1,388 835 1,634 1,697 6,059 Cash items in process of collection i 8,791 461 1,395 472 495 795 804 1,445 491 347 648 472 966 Bank premises . 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets U 1,391 1 57 513 64 101 67 66 176 40 26 51 58 172 TOTAL ASSETS 67,493 3,628 15,494 3,520 5,263 5,283 4,179 11,259 2,615 1,521 2,968 2,730 9,033 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 OP COKDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 12,1966 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) L I A B I L I T I ES Federal Reserve notes 38,936 2,331 8,878 2,206 3,234 3,538 2,235 7,103 1,428 702 1,472 1,247 4,562 Deposits: Member bank reserves 18,463 718 4,674 786 1,403 916 1,041 2,739 677 461 844 916 3,288 U.S. Treasurer-general acc ount 1 718 23 u 3 4 i 3 39 44 100 82 37 65 40 77 72 96 Foreign 134 7 8 13 7 8 20 5 3 6 8 18 Other 1 861 * 1/368 * * 59 94 37 27 30 60 46 140 Total deposits 1 20,176 748 5,Il6 833 1,460 1,082 1,225 2,833 774 534 987 1,042 3,542 Deferred availability cash items 6,845 472 1,092 4oo 432 583 633 1,086 364 252 448 364 719 Other liabilities and accrvle d 12 dividends 254 i 60 10 19 17 13 38 8 5 9 9 54 TOTAL LIABILITIES 66,211 3,563 15,146 3,449 5,145 5,220 4,106 11,060 2,574 1,493 2,916 2,662 8,877 CAPITAL ACCOUNTS Capital paid in i 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 Othe T r O T c A a L pi t L a IA l B a I c L c I o T u I n E t S s A ND 165 i • u 57 11 17 6 5 38 2 1 3 3 11 CAPITAL ACCOUNTS I 67,493; 3,628 15,494 3,520 5,263 5,283 4,179 11,259 2,615 1,521 2,968 2,730 9,033 o€ ntingent liability on ace :eptances purchased for forei.g n correspondents i 234 11 3/61 . 13 21 12 14 33 8 6 10 14 31 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,425 2,306 3,509 3,709 2,438 7,491 1,532 748 1,560 1,362 4,897 Collateral for F. R. notes: Gold certificate account 1,000 500 600 815 450 1,100 315 127 225 180 735 Eligible paper 3 6 U. S. Government securities 8,700 2,000 3,000 2,945 2,075 .6,500 655 l,4oo 1,230 4,600 1,310 Total collateral 9,700 2,503 3,600 3,760 2,525 7,600 1,631 782 1,625 1,410 5,335 1/ After deducting $103 million participations ofo ther Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $173 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis