H.4.1 Factors Affecting Reserve Balances of Depository Institutions

o* GOV*/ . F E D E R AL R E S E R VE Factors Affecting Bank Reserves amFor immediate release *"?f^UBi^. " Condition Statement of F.R. Banks October 27, 1966 The average of daily figures of total member bank reserves held during the •week ended October 26 decreased a net of $26 million to $23,281 million. Estimated currency and coin of member banks increased $96 million and their reserve balances at the Federal Reserve Banks decreased $122 million. Estimated required reserves increased $301 million; and estimated excess reserves decreased $327 million to $152 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $366 million compared with the revised net borrowed figure of $311 mil lion the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $272 million in member bank borrowings, and $112 million in Federal Reserve float, and an increase of $218 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $19ij- million in U. S» Government securities bought outright and $79 million in U. S. Government securities held under repurchase agreements, and a decrease of $179 million in currency in circulation. Total Reserve Bank credit decreased $92 million. As of Wednesday, October 26, holdings of U. S. Government securities bought outright were $317 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $151 million higher, and member. b&kCborii^wings were $213 million lower. Average of daily i"igurj 36 __ Member bank reserves, Week ended Change from week ended Wednesday, Reser^^^l^!^cre?5ij:, Oct. 26, Oct. 19, Oct • 27, Oct. 26, janfl/relafred items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 42,715 +194 +3 ,^23 42,613 Keld urn:or repurchase agreements 79 + 79 + 79 151 Acceptances-- Bought outright 52 + 1 12 51 ^He.Ld under repurchase agreements 18 + 18 3 38 Discounts and advances — Member bank borrowings 518 -272 + 180 582 Other 15 -- - 19 15 Float 2,043 -112 + 127 1,524 Total Reserve Bank credit 45,440 - 92 +3 ,798 417975 Gold stock 13,256 -- - 601 13,259 Treasury currency outstanding 6,154 + 9 + 650 6,163 wp$$ 64,850 ^ $3 ^3 jm Currency in circulation 43,088 -179 +2 ,359 43,1H Treasury cash holdings 1,138 + 18 + 335 1,156 Treasury deposits with F. R. Banks 924 +218 - 51 840 Foreign deposits with F. R. Banks 127 - 21 - 34 14.1 Other deposits with F. R. Banks 432 - 7 + 236 428 Other F. R. accounts (net) -45 + 11 - 126 -46 45,663 + 39 +2 ,719 45,630 Member bank reserves: With Federal Reserve Bank 19,187 -122 +1. ,129 18,760 Cwrency and coin (estimated) 4,094 + 96 + 312 4,5?o Total reserves held 23,281 - 26 __ ,441 23,2Qb Required reserves (estimated) 23,129 +301 +1 ,486 23,153 Excess reserves (estimated) 152 -327 - 45 143 On October 26, I966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,278 million, a decrease of ^70 million for the week and a decrease of $821 million from the ooinpa.rab.lo date Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(a) CONSOLIDATED STATEMENT OP CONDITION OF THE WELVE FEDERAL RESERVE BANKS (in millions of dollars) •Chang* class «fog. «ttrf» Oot ^ t A S S E TS Gold certificate "account 10,958 - 2 - 9^7 Redemption fund for F. R. nbtes 1,805 ^ 2 * j^28 Total gold certificate reserves 12,76J - 5 - 819 • Cash (848) 306 2 + 16^ Discounts and advances 597 - 213 + 231 Acceptances: Bought outright 51 + K> Held under repurchase agreements 38 + 38 + 20 U. S. Government securities: Bought outright— BiUs 10,796 + 317 +2,936 Certificates 4,366 — +4,366 Notes 21,013 — -3>8l5 Bonds 6.438 - - H2 Total bought outrltfit 42,61J + 317 +3,375 Held under repurchase agreements 151 + 151 + 151 Total U. S, Government securities 42,76** + 468 ii^26 Total loans and securities 43,450' • 293 +3,787 Cash items in process of collection (1,793) 6,728 -1,305 + 498 Bank premises 104 — +1 Other assets 1/ 1*431 t M TOTAL ASSETS (2,64l) 64,762 L I A B I L I T I ES FederSllteser^e^notSs"""" (848) 37,914 - 124 +1,983 Deposits: Member bank reserves 18,766 - 115 +1,379 U. S. Treasurer—-general account 840 - 28 - 245 Foreign 1 4 1 + 3 - 12 Other 2/ 428, - 5 + 232 Total deposits 20,175l - 145 +1,354 Deferred availability cash items (l,79>) 5,204 - 767 + 417 Other liabilities and accrued dividends 227 + 8 - 59 TOTAL LIABILITIES (2,64l) 63,526- -1,026 +3,695' £ A P I T A L A C C O U N TS Capital paTd""in~ 566 + 20 Surplus 551 — + 27 Other capital accounts 145 + 3£ • 2£ TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,64l) 64,78a- - 993 +3,767 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32-9# — - 4.2> Contingent liability on acceptances purchased for foreign correspondents 222 - 3 + 67 * 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. 2/lncludes IMF gold deposit. 1 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 27, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing with 15 days in accordance with maximum maturity of the agreements.) U S. Government securities 7 Discounts and Changes advances Acceptances Holdings during week Within 15 days 579 52 1,735 +430 16 days to 90 days 18 37 5,427 - 29 91 days to 1 year — — 20, XLk V 67 Over 1 year to 5 years — — 13,699 Over 5 years to 10 years — — 1,192 Over 10 years _j^ •- 397 " Total 597 H9 42,764 +555 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. If. 1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 27, 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) A S S E TS Gold certificate account 10,958 625 2,448 681 932 1,064 617 . 2,062 339 I69 449 321 1,251 Redemption fund for F. R. notes 1,805 99 430 94 148 162 104 325 63 33 70 61 216 Total gold certificate reserves 12,763 724 2,878 775 1,080 1,226 721 2,387 402 202 519 382 1A67 F. R. notes of other Banks 848 82 223 65 72 63 72 70 27 33 20 37 84 Other cash 306 13 32 11 42 19 31 44 3h 7 14 20 39 Discounts and advances 597 22 120 10 11 36 106 98 35 3 13 108 35 Acceptances: Bought outright 51 51 Held under repurchase agreements 38 38 U. S. Government securities: Bought outright-— Bills 10,796 576 2,547 529 903 770 560 1,818 395 230 4l3 421 1,634 Certificates 4,366 233 1,030 214 365 311 227 735 160 93 167 170 661 Notes 21,013 1,121 4,957 1,030 1,758 1.A98 1,089 3,538 769 447 805 820 3,181 Bonds 6.1^3 1.519 ^16 5^8 459 3^4 1,084 2^5 137 247 252 974 Total 1+2,613 2,273 10,053 2,089 3,564 3,038 2,210 7,175 1,559 907 1,632 1- ,66 6,450 3 Held under repurchase agreements 151 151 Total U. S. Government securities 42.764 2,273 10,204 2,089 3.564 ^,038 2,210 7.175 1.559 907 1,632 1 .66^ 6.450 Total loans and securities 1+3,450 2,295 10,413 2,099 3,575 3,074 2,316 7,273 1,594 910 1,645 l ,771 6,485 Cash items in process of collection 8,521 559 1,493 504 616 688 690 l,4ii 425 290 581 468 796 Bank premises 104 3 9 3 5 5 20 20 8 3 8 10 10 Other assets l/ ..1,431 61 521 65 106 72 68 185 4^ 27 , 53 61 169 TOTAL ASSETS 67,423 3,737 15,569 3,522 5,496 5,147 3,918 11,390 2,533 1,472 2,840 2, 7^9 9,050 1/ Includes assets denominated in fc> reign cti rrencies. and IMP1 gold deposited. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION CF EACH FEDERAL RESERVE BANK CN CCTOBER 26, I966 Total Boston New Phila Cleve Rich Atlanta Chicago " St. Minne Kansas Dallas San York delphia land mond Louis apolis City Fran 11 cisco > (In millions; cf dollars) L I A B I L I T I ES Federal Reserve notes 38,762 j 2,315 8,841 2,198 3,225 3,537 2,215 7,083 1,420 697 1,461 1,239 ^,531 Deposits: Member bank reserves ! 18,766 776 4,613 761 1,497 854 946 2,84c 67C ^53 818 1,001 3,537 U.S. Treasurer-general account ' 840 | 44 137 57 97 88 71 79 52 37 54 6c 64 Foreign | 141 6 7 12 7 8 19 4 3 L. L 17 Other ! 1 #__ 2 2_ ±_ 59 . Total deposits 20,1 4 7 2 5 8 827 5,149 826 1 _ 1,606 954 1,027 2,94c 726 494 1 . 880 1,069 3,677 Deferred availability cash items 6,997 522 1,191 421 535 573 587 1,11*5 335 247 436 361 644 Other liabilities and accrued 227 12 6c 10 19 15 12 36 8 5 8 9 33 dividends TOTAL LIABILITIES 66,161 3,676 15,2411. 3,^55 5,385 5,079 3,841 11,204 2,489 1,^3 2,785 2,678 8,885 CAPITAL ACCOUNTS Capital paid in 566 27 147 - 30 51 29 35 82 2C 14 25 33 73 Surplus 551 27 144 30 50 28 33 79 19 13 24 72 Other capital accounts 1^5 7 37. 7 10 11 9 25 5 2 6 2C TOTAL LIABILITIES ANT CAPITAL ACCOUNTS 67,^23 3,737 15,5_69__ _3,522_ 5,^96 J,i±7___3 _,918_ 11,390 2,533 _1,472_ 2,840 J^9___3 P5_c__ Contingent liability on accept ances purchased for foreign correspondents 222 11 1/ 58 12 20 11 13 32 8 5 1C 13 29 FEDERAL RESERVE AGENT'S ACCOUNTS F. R, notes outstanding 4-1,133 2,439 9,367 2,296 3,488 3,687 2,4c4 7,^39 1,513 739 1,548 1,352 4,861 Collateral for F. R. notes: Gold certificate account i 6,455 5cc 1,CCC 459 60c 785 450 1,10C 294 127 225 180 735 Eligible paper 39 4 35 U S. Government securities 36,431 2,Cl6 8,7cc 2,0C0 3,cco 2,945 2,075 6,500 1,31C 655 i,4oo 1,23c 4,600 # Total collateral 42,925 2,516 9,7CC 2,463 3,6oo 3,73C 2,525 7,6cc 1,639 782 1,625 1,410 5,335 -*-/ AX ocx- aeu.uco3.ng q> ^ miJLiion participations or other .federal Keserve items. 2/ Includes IMP gold deposit. * Less than $500,0C0, 2/ After deductln.g $164 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis