H.4.1 Factors Affecting Reserve Balances of Depository Institutions

<L<i°^£^-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.!-••••• For immediate release October 20, 1966 The average of daily figures of total member hank reserves held during the week ended October 19 decreased a net of $43 million to $23,325 million. Estimated currency and coin of member banks increased $218 million and their reserve balances at the Federal Reserve Banks decreased $26l million. Estimated required reserves decreased $102 million; and estimated excess reserves increased $59 million to $493 million. Member bank "borrowings at the Federal Reserve Banks exceeded excess reserves by $297 million compared with the revised net borrowed figure of $494 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $448 million in U. S. Government securities bought outright and $138 million in member bank borrowings, and increases of $39 million in currency in circulation, $26 million in Treasury deposits with Federal Reserve Eanks, and $21 million in Treasury cash holdings. The principal offsetting changes were increases of $275 million in Federal Reserve float and $24 million in Treasury currency outstanding, and a decrease of $148 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $359 million. As of Wednesday, October 19, holdings of U. S. Government securities bought outright were $537 million lower than a week earlier and member bank borrow ings were $352 million higher. Averages of daily figures Member bank reserves, Week ended nViftngp from wp.ftk prided Wednesday, Reserve Bank credit, Oct. 19, Oct. 12, 1 Oct. 20, Oct. 19, and related items 1966 1966 i 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 42,521 -448 +3,097 42,296 Held under repurchase agreements - 62 Acceptances-- Bought outright 51 + 11 51 Held under repurchase agreements 44 Discounts and advances— Member bank borrowings 790 + 199 795 Other 15 5 15 Float 2,155 - 55 2,062 Total Reserve Bank credit 45,532 +3,185 45,219 Gold stock 13,256 - 602 13,259 Treasury currency outstanding 6,145 + 644 6,149 64,933 -337 +3,228 6T,"^27 Currency in circulation 43,267 + 39 +2,419 43,237 Treasury cash holdings 1,120 + 21 + 310 1,133 Treasury deposits with F. R. Banks 706 + 26 - 347 Foreign deposits with F.R. Banks 148 - 9 22 138 Other deposits with F. R. Banks 439 - 6 + 235 +33 Other F. R. accounts (net) -56 -148 134 - 63 45,624 - 77 +2,462 I 45,746 Member bank reserves: With Federal Reserve Banks 19,309 -261 + 765 18,881 Currency and coin (estimated) 4,016 +218 + 286 4,400 Total reserves held 23,325 - 43 +1,051 23,281 Required reserves (estimated) 22,832 -102 +1,051 23,306 Excess reserves (estimated) 493 + 59 -25 On October 19, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,348 million, an increase of $6l million for the week and a decrease of $655 million from the comparable date a year ago. 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. 19, Oct. 12, Oct. 20, 1966 1966 1965 A S S E TS Gold certificate account 10,960 — - 957 Redemption fund for F. R. notes 1,808 - 5 + 149 Total gold certificate reserves 12,768 - 5 - 808 Cash (801) 308 - 2 + 182 Discounts and advances 810 +352 + 396 Acceptances: Bought outright 51 -- 12 Held under repurchase agreements — - 42 — U. S. Government securities: Bought outright-- Bills 10,479 -537 +2,657 Certificates 4,366 — +4,366 Notes 21,013 — -3,815 Bonds 6,438 __ - 112 Total bought outright 42,296 -537 +3,096 Held under repurchase agreements -- -- Total U. S. Government securities 42,296 +3,096 Total loans and securities 43,157 -227 +3,504 Cash items in process of collection (2,007) 8,033 +996 + 867 Bank premises 104 + 2 Other assets 1/ + 14 + 127 1,405 TOTAL ASSETS +776" +17B74" (2,808)557775 L I A B I L I T I ES Federal Reserve notes (801)38,038 -158 +2,053 Deposits: Member bank reserves 18,881 +418 + 968 U. S. Treasurer--general account +150 - 23 Foreign 138 + 4 - 24 Other 2/ 433 -106 + 232 Total deposits 20,320 +466 +1A53 Deferred availability cash items (2,007) 5,971 +558 + 677 Other liabilities and accrued dividends 219 - 35 - 7g TOTAL LIABILITIES (2,808)64,548 +831 +3,811 C A P I T AL A C C O U N TS Capital paid in 566 + 20 Surplus 551 + 27 Other capital accounts 110 - 55 + 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,808)65,775 +776 +3,874 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32.9^ +.1$ - 4.2$ Contingent liability on acceptances purchased for foreign correspondents 225 - 9 + 70 * 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/Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 19> 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 Dis counts and Changes advance) S Ac<^ eptances Holdings during week Within 15 days 794 11 1,305 +227 16 days to 90 days 16 40 5,456 -671 91 days to 1 year -- -- 20,247 - 93 Over 1 year to 5 years -- -- 13,699 __ Over 5 years to 10 years __. — 1,192 — Over 10 years __ — 397 __. Tio-hal 810 51 42,296 -537 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 19, 1966 San New Phila Cleve Rich St. Minne Kansas j 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 10,960 660 1,866 536 944 1,002 553 2,126 340 270 443 459 1,761 Redemption fund for F. R. notes 1,808 99 431 93 148 164 104 325 63 33 70 61 217 Total gold certificate reserves ;12,768 . 759 2,297 629 1,092 1,166 657 27S5T- 403 303 513 ydo i,yy8 - - F. R. notes of other Banks 801 ! 83 213 56 63 66 67 62 25 31 22 35 78 Other cash 308 13 32 11 42 20 30 47 34 6 14 21 38 Discounts and advances 810 28 121 3 ^ 63 93 258 48 * 33 95 65 Acceptances: •5. Bought outright 51 -- 51 — - "" Held under repurchase agreements "* "* - "" U. S. Government securities: Bought outright— Bills 10,479 559 2,662 557 857 747 585 1,765 383 203 4oi 386 i,374 Certificates 4,366 233 1,109 232 357 311 244 735 160 84 167 161 573 Notes 21,013 1,121 5,338 1,117 1,719 1,498 1,173 3,538 769 407 805 773 2,755 Bonds 6,438 1 343 1,636 343 526 459 359 1,084 ,235 125 247 237 844 Total 42,296 2,256 10,745 2,249 3,459 3,015 2,361 7,122 1,547 819 1,620 1,557 5,546 Held under repurchase agreements -~ -- _.. _., ~_ ..- ~~ - _ — — Total U. S. Government securities 42,296 ! 2,256 10,745 2,249 3,459 3,015 2,36l 7,122 1,547 819 1,620 1,557 5,546 Total loans and securities l 43,157 2,284 10,917 2,252 3,462 3,078 2,454 7,380 1,595 819 1,653 1,652 5,611 Cash items in process of collection io,o4o 659 1,706 591 715 830 829 1,663 521 328 674 517 1,007 Bank premises 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets l/ • 1.405 59 521 65 104 69 ,70., 18? hp 27 s? TO 1 SS TOTAL ASSETS 68,583 3,860 15,695 3,607 5,483 5,234 4,127 11,805 2,628 1,517 2,936 2,8l4 8,877 1/ Includes assets denominated in foreign currencies and IMF gold deposited. *Less than $500,000 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 OCTOBER 19, 1966 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond I Atlanta j Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 38,839 2,322 8,845 2,204 3,230 3,537 2,223 7,104 1,426 700 1,466 1,244 4,538 Deposits: Member bank reserves 18,881 815 .4,613 761 1,452 832 1,057 3,085 678 468 880 1,034 3,206 U. S. Treasurer--general account 868 54 132 69 54 129 78 47 88 4l 33 64 79 Foreign 138 7 f, 35 8 13 7 8 20 5 3 6 8 18 Other ii33- ] 2 ] £Q_ * _ ^58 * * 8 ] p * Total deposits 20,320 876 5,138 838 1,519 976 1,144 3,154 771 513 921 1,107 3,363 Deferred availability cash items 7,978 591 1,337 489 607 64l 673 1,331 380 270 486 385 788 Other liabilities and accrued 219 12 56 11 18 15 12 36 8 5 9 9 28 dividends TOTAL LIABILITIES 67,356 3,801 15,376 3,542 5,374 5,169 4,052 11,625 2,585 1,488 2,882 2,745 8,717 CAPITAL ACCOUNTS Capital paid in 566 27 147 30 51 29 35 82 20 14 25 33 73 S Ot u h r e p r lu s c apital accounts 1 5 1 5 Q 1 _ 2 5 7 _ 1 2 4 8 4 _ 30 5 °a 28 33 79 1 1 2 3 24 72 TOTAL LIABILITIES AND 5 JJL _•£. -15- CAPITAL ACCOUNTS ^8,583 1,3,860 15;695 j.;607 ^483 .5:234.4,127 1I.8-C5 ..2.628 1.517 2.Q36 2-.fii4 fi.fl77 : Contingent liability on accept ances purchased for foreign Ab± correspondents 225 11 12 20 12 14 32_ _8_ 10 .11 29 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 2,444 9,388 2,302 3,495 3,693 2,420 7,465 1,520 743 1,560 1,350 4,893 Collateral for F. R. notes: Gold certificate account 500 1,000 550000 560000 t851155 445500 11,,110000 331155 127 225 180 735 Eligible paper 2 - - -- - k8 U. S. Government securities 2,016 ft, 700 2.000 3.000 2,Q45 2,07,5 6. SOP 1.310 655 1,400 1.230 4.600 Total collateral 2,516 9,700 2,502 3,600 3,760 2,525 7,600 1,673 782 1,625 1,410 5,335 1/ After deducting $103 million participations of other Federal Reserve Banks. 2/ Includes IMF gold deposit. * Less than $500,000. 3/ After deducting $l66 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis