H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and ^f^Au^y Condition Statement of F.R. franks K.k.l For immediate release November 10, 1966 The average of daily figures of total member bank reserves held during the week ended November 9, increased a net of- $25 million to $23,403 million. Estimated currency and coin of member banks decreased $305 million and their reserve balances at the Federal Reserve Banks increased $330 million. Estimated required reserves decreased $94 million; and estimated excess reserves increased $119 million to $397 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $2^9 million, compared with the revised net borrowed figure of $316 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $323 million in U. S. Government securities bought outright, $132 million in U. S. Government securities held under repurchase agree ments, and $120 million in Federal Reserve float, and a decrease of $65 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $322 million in currency in circulation and $50 million in "other" F.R. accounts (net). Total Reserve Bank credit increased $628 million. As of Wednesday, November 9, holdings of U. S. Government securities bought outright were $34 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $302 million lower, and member bank borrowings were $293 million lower. Averages of daily-figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 9, Nov. 2, | Nov. 10, Nov. 9, and related items 1966 1966 I 1965 1966 (In nl illions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 43,281 +323 +3, 032 43,281 Held under repurchase agreements 193 +132 + 189 Acceptances-- Bought outright 53 + 2 + 8 51 Held under repurchase agreements 22 -- - 2 19 Discounts and advances— Member bank borrowings 646 + 52 + 312 537 Other 15 - 1 - 20 15 Float 1,890 +120 - 35 1,141 7m Total Reserve Bank credit 46,100 +525 +3 45,044 Gold stock 13,258 + 1 - 600 1 13,259 Treasury currency outstanding 6,185 + 20 + 653 6., 194 65,543 +649 +3 ,536 64,497 Currency in circulation 43,406 +322 +2 ,294 43,717 Treasury cash holdings 1,163 + 7 + 371 1,172 Treasury deposits with F. R. Banks 740 - 65 - 323 791 Foreign deposits with F. R. Banks 162 + 6 - 17 148 Other deposits with F. R. Banks 435 -.- + 220 434 Other F. R. accounts (net) IT + 50 244 — 45,922 + 318 +2", 301 46,262 Member bank reserves: With Federal Reserve Banks 19,620 + 330 +1 ,234 18,235 Currency and coin (estimated) 3,783 -305 + 265 4,206 Total reserves held 23,403 + 25 +1 ,499 1 22,441 Required reserves (estimated) 23,006 - 9k +1 ,531 22,937 Excess reserves (estimated) 39T +119 - 32 - 496 On November 9, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,213 million, a decrease of $4l million for the week and a decrease of $804 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Nov. 9, Nov. 2, Nov. 10, A S S E TS —^ 1966 1 9 6 5_ Gold certificate~account 10,973 — - 932 Redemption fund for F. R. notes 1,799 - 3 + 126 Total gold certificate reserves 12,772 - 3 ~~ SoS Cash (651) 2 9 5 -6 + 188 Discounts and advances 552 - 293 + 368 Acceptances: Bought outright 51 " +8 Held under repurchase agreements 19 " ^ U. S. Government securities: Bought outright-- Bills 11,464 34 +2,794 Certificates 4,366 — +4,366 Notes 21,013 — -3,815 Bonds 6,438 — - 112 Total bought outright 43,281 + 34 +3,233 Held under repurchase agreements — - 302 ~- Total u. s. Government securities 43,281 - 268 +3,£33 Total loans and securities 43,903 ~ 5^1 +3,605 Cash items in process of collection (l,655) 6,809 - 457 + 183 Bank premises 104 — +3 Other assets 1/ 1,469 + 28 + 268 TOTAL ASSETS (2,306) 65,352 - 999 +3,44l L I A B I L I T I ES Federal Reserve notes (651) 38,503 f 469 +2,015 Deposits: Member bank reserves 18,235 -1,651 + 471 U. S. Treasurer--general account 791 + 77 - 399 Foreign ±k8 - 27 - 40 Other 2/ (l) 434 + 4 + 129 Total deposits (1) 19,608 -1,597 + l6l Deferred availability cash items (l,654) 5,668 + 112 +1,249 Other liabilities and accrued dividends 242 l8 71 TOTAL LIABILITIES (2,306) 64,021 -1,034 +3,354 C A P I T AL A C C O U N TS Capital paid in ~~ 566 — + 20 Surplus 551 — + 27 Other capital accounts 2l4 + 35 + 40 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,306) 65,352 - 999 +3,441 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 32-6$ .3$ - 4.1$ Contingent liability on acceptances purchased for foreign correspondents 218 14 + 69 * 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, NOVEMBER 9, 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 Discounts and Changes advances Acceptances Holdings during week Within 15 days 506 30 1,729 -787 16 days to 90 days 46 2+0 5,609 +594 91 days to 1 year 20,655 - 75 Over 1 year to 5 years 13,699 -- Over 5 years to 10 years 1,192 -- Over 10 years 397 -- ^rH-.ai ceo ™ j, o oAi To^S Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 9, 1966 H. 4.1(b) San New Phila CIeve - Rich St. Minne Kansas | Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions; of dollars) A S S E TS Gold certificate account i 10,973 663 2,492 63O 934 1,007 630 1,985 458 184 404 393 1,193 Redemption fund for F. R. notes [ 1,7991 99 428 94 148 160 104 324 63 32 70 60 217 Total gold certificate reserves ! 12,772 762 2,920 724 1,082 1,167 734 2,309 521 216 474 453 1,410 F. R. notes of other Banks 651 68 146 40 62 52 59 55 13 28 34 33 61 Other cash 1 295 ! 13 29 10 39 19 32 45 33 6 15 18 36 Discounts and advances 552 ! 11 95 11 16 8 50 180 20 3 46 71 41 Acceptances: Bought outright 51 j 51 — -- -- -- — -- -- — -- -- Held under repurchase agreements 1 19 19 — — — — -- -- __ -- -- U. S* Government securities: Bought outright - Bills 11,464 [ 591 2,787 603 939 853 611 1,948 407 232 436 428 1,629 Certificates 4,366 225 1,061 230 358 325 232 742 155 89 166 163 620 Notes 21,013 1,082 5,108 1,106 1,721 1,564 1,120 3,571 745 425 800 784 2,987 Bonds ! 6,438 332 1,565 339 527 479 343 1,095 228 130 245 240 915 Total 43,281 2,230 10,521 2,278 3,545 3,221 2,306 7,356 1,535 876 1,647 1,615 6,151 Held under repurchase agreements _- -.. -- -- -- -- — -- --. -- ~ _ Total U- S. Government securities 43,281 2,230 10,521 2,278 3,545 3,221 2,306 7,356 1,535 S76 1,647 1,615 6,151 Total loans and securities 43,903 2,241 10,686 2,289 3,561 3,229 2,356 7,536 1,555 879 1,693 1,686 6,192 Cash items in process of i collection 8,464 1 616 1,346 526 588 759 682 1,380 456 302 518 447 844 Bank premises io4i 3 9 3 5 5 20 20 8 3 8 10 10 Other assets 1/ j l,469| 62 530 71 109 76 71 192 44 28 55 61 170 TOTAL ASSETS 67,6581 3,765 15,666 3,663 5,446 5,307 3,954 11,537 2,630 1,462 2,797 2,708 8,723 1 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 FEDEPAL RESERVE BANK ON NOVEMBER 5> , 1966 1 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran 1 Tork delphia land mond Louis apolis City cisco (in*m illions of dollars) L I A B I L I T I ES Federal Reserve notes 39A54 2,334 8,962 2,227 3,234 3,582 2,242 7,132 1,431 696 1,494 1,247 4,573 Deposits: Member bank reserves 18,235 765 4,651 784 1,488 923 953 2,697 692 443 815 954 3,070 U.S. Treasurer—general ei c count 791 72 66 43 65 63 107 47 35 55 30 71 137 Foreign 148 7 1/ 3T 8 13 8 9 21 5 4 7 9 20 Cther 435 1 2/363 1 1 6 2 2 2 * 2 1 54 Total deposits 19,609 i 845 5,117 836 1,567 1,000 1,071 2,767 734 502 854 1,035 3,281 Deferred availability cash items 7,322 509 1,181 518 507 635 548 1,400 410 228 383 343 660 Other liabilities and accna ed dividends 242 12 60 12 21 18 13 40 9 5 9 9 34 TOTAL LIABILITIES 66,327 3,700 15,320 3,593 5,329 5,235 3,874 11,339 2,584 1,431 2,740 2,634 8,548 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 Cther capital accounts 214 1 12 - 55 10 16 15 12 37 7 4 8 9 30 TC3&L LIABILITIES AND CAPITAL ACCOUNTS 67,658 3,765 15,666 3,663 5,446 5,307 3,954 11,537 2,630 1,462 2,797 2,708 8,723 Contingent liability on ac;te ptanee-s purchased for foreL:g n correspondents L._ 218__ 10 3/ 57 12 20 11 13 31 8 5 10 13 28 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,010 2,421 9,388 2,293 3,469 3,689 2,379 7,408 1,503 737 1,548 1,350 4,825 Collateral for J. R. notes: Gold certificate account 6,492 500 1,000 490 600 785 450 1,100 300 127 225 180 735 Eligible paper 24 4 20 U. S. Government securities 36,356 2,016 8,700 2,000 3,000 2,945 2,000. 6,500 1,310 655 l,4oo 1,230 4,600 Total collateral 42,872 2,516 9,700 2,494 3,600 3,730 2,450 7,600 1,630 782 1,625 1,410 5,335 l/ After deducting $111 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,OCC. 3/ After deducting $l6l million participations of cther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis