H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••oJifilo-- F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks LRE^ H.4.1 For immediate release December 1, 1966 The average of daily figures of total member bank reserves held during the week ended November 30 increased $274 million to $23,192 million. Estimated currency and coin of member banks increased $191 million and their reserve balances at the Federal Reserve Banks increased $83 million. Estimated required reserves increased $12 million; and estimated excess reserves increased $262 million to $429 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $207 million, compared with the revised net borrowed figure of $272 mil lion the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $338 million in U. S. Government securities held under repurchase agreements, $212 million in U. 3. Government securities bought outright, $197 million in member bank borrowings, and a decrease of $151 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $548 million in Federal Reserve float and an increase of $225 million in currency in circulation. Total Reserve Bank credit increased $224 mil lion. As of Wednesday, November 30, holdings of U. 3. Government securities bought outright were $457 million higher than a week earlier. U. S. Government securities held under repurchase agreements were $493 million higher, and member bank borrowings were $68*million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 30, Nov. 23, Dec. 1, Nov. 30, and related items 1966 1966 1965 1966 (In millions of dollars Reserve Bank credit: TJ. 3. Government securities — Bought outright—System account 43 ATI +212 +2,636 43,290 Eeld under repurchase agreements 356 +338 + 356 622 Acceptances— Bought outright 52 3 5+ Held under repurchase agreements 61 + 28 4 7T Discounts and advances— Member bank borrowings 636 +197 + 102 445 Other Ik - 2 - 19 13 Float 1,902 -548 + 100 1,780 Total Reserve Bank credit 46,191 +224 +3AT3 4~6728l Gold stock 13,230 - 27 - 578 13,^9 Treasury currency outstanding 6,24l + 11 + 697 6,239 65,661 +207 +3,291 65,679 Currency in circulation 44,101 +225 +2,367 44,213 Treasury cash holdings 1,188 + 8 + 370 1,179 Treasury deposits with F. R. Banks 556 -151 - 205 009 Foreign deposits with F. R. Banks 162 + 14 + 3 196 Other deposits with F. R. Banks 417 + 8 + 182 399 Other F. R. accounts (net) 2J9 + 21 133 301 46,703 +124" +2,5^5 5575S7 Member bank reserves: With Federal Reserve Banks 18,953 + 33 + 705 19,093 Currency and coin (estimated) 4,234 +191 + 295 4,735 Total reserves held 23A92 +274 +1,CC0 23,828 Required reserves (estimated) 22,763 + 12 + 9C6 23,034 Excess reserves (estimated) 429 +262 + 4 794 On November 30, 1966, U. S. Government securities held in custody by the Federal. Reserve Banks for foreign account were $7,450 million, an increase of $151 million for the week and a decrease of $646 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 5.1(a) CONSOLIDATE? STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) 1D hange since Nov. 30, Nov.• 23, Dec. 1, 1966 1966 1965 A S S E TS Gold certificate account 10,852 - 97 - 965 Redemption fund for F. R. notes 1,815 + 2 + 120 •Total gold certificate reserves 12,667 - 95 t~55~5 Cash (628) 293 - 6 + 185 Discounts and advances 558 66 + 209 Acceptances: Bought outright 5]+ + 3 + 1 Held under repurchase agreements 77 + 55 9 U. S. Government securities: Bought outright— Bills 11,573 557 +2,069 Certificates 5,351 -- +5,351 Notes 21,278 — -3,550 Bonds 6,188 — - 362 Total bought outright 53,290 + 557 +2,508 Held under repurchase agreements 622 + 593 + 622 Total U. S. Government securities 53,912 + 9S0 +3,130 Total loans and securities 55,501 +1 ,c65" +3,359 Cash items in process of collection (1,B20) 7,212 _i_ 37 + 566 Bank premises 103 -- + 2 Other assets l/ 1,152 + 26 + 286 TOTAL ASSETS (2,m 65,928 +1 ,026 +3,553 L I A B I L I T I ES Federal Reserve notes (628) 3«,953 L 125 +2,035 Deposits: Member bank reserves 19,093 +1, 100 +1,205 U. S. Treasurer—general account 299 - 226 - 592 Foreign 196 + 50 + 51 Other 2/ 399 - 5 + 155 Total deposits 19,987 + 919 + 919 deferred availability cash items (1,820) 5,532 - 88 + 355 Other liabilities and accrued dividends 271 + 35 + 70 TOTAL LIABILITIES (2,^8) ^7^3 + 989 +3,368 C A P I T AL A C C O U N TS Capital paid in 568 1 + 22 Surplus 551 -- + 27 Other capital accounts 166 + 36 + 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,448) 65,928 +1, 026 +3,++3 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 32.0$ .kfo - 5.1$ Contingent liability on acceptances purchased for foreign correspondents 203 - 3 + 58 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2j Includes IMF gold deposit. ^ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 30, I966 (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 kk2 88 2,053 +1^3 16 days to 90 days 16 ^3 8,356 +527 91 days to 1 year — -- 25,692 +280 Over 1 year to 5 years -_ -- 7,556 „- Over 5 years to 10 years — — 988 -- Over 10 years — -- 397 -- T»otal k^R 1 OT )i 6 Ol O u-o^n Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT GF CONDITION OF EACH FEIERAL RESERVE BANK ON "November 30, 1966 San New Phila Cleve •- Rich St. Mi nne- Kansas | Total Boston Atlanta Chicago Eallas Fran York delphia land mond Louis apolis City cisco (Ir1 millions of do]. lars) A S S E TS Gold certificate account |10,852 | 693 2,829 579 809 1,003 545 2,155 339 154 386 285 1,075 Redemption fund for F« R. notes 1 1,815 99 U36 95 151 157 103 333 65 32 69 60 215 Total gold certificate reserves j 12,667 I 792 3,265 674 960 1,160 648 2,488 4o4 186 455 345 1,290 F. R. notes of other Banks ! 628 1 46 150 27 59 59 60 59 19 26 30 33 60 Other cash 293 10 30 8 43 17 36 45 31 7 14 19 33 discounts and advances 458 1 ,11 55 ~ 4 13 57 112 43 59 82 12 Acceptances: Bought outright 5^ j 5^ __ -- -- _„ - __ Held under repurchase agreements 77 77 U. S. Government securities: Bought outright•• Bills 11,473 1 606 2,79^ 595 930 829 tzt x,?vl q-uj 246 1,1,1, Certificates K 351 1 230 1,059 226 352 314 238 721 153 ,93 169 169 627 Note s 21,278 1,125 5,l8l i,io4 1,724 1,537 1,163 3,526 747 456 824 824 3,067 Bonds 6,188 ! 327 1,507 321 502 447 338 1,025 217 132 240 240 892 Total 43,290 2,288 10,541 2,246 3,50b1 3,127 2,36b 7,173 1,520 927 1,677 1,677 6,240 Held under repurchase agreements 622 -- 622 -- •-- -- -._ -- _,. -" -- -- -•• Total U- S. Government securities 43,912 2,288 11,163 2,246 3,508 3,127 2,366 7,173 1,520 927 1,677 1,677 6,24o .. ... . Total loans and securities 44,501 2,299 11,3^9 2,253 3,512 3,140 2,423 7,285 1,563 930 1,736 1,759 6,252 Cash items in process of collection 9,032 I 584 1,691 512 652 715 705 1,505 460 292 584 497 835 Bank premises ! 103 3 9 3 5 5 20 20 8 3 8 10 9 Other assets l/ j 1,152 46 455 52 83 51 55 137 33 2a 42 50 126 TOTAL ASSETS j 68,376 3,780 16,949 3,529 5,314 5,147 3,947 11*539 2,518 1,466 2,869 2,713 8,605 i/ 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) bTATi^KT OF CONDITION OF EACH FEDERAL RESERVE BAM ON NOVEMBER 30, 1966 I New Phila Cleve Rich St. Minne-j Kansas San " Total Boston York delphia land mond Atlanta Chicago Louis apolisj City Dallas Fran cisco .. _. ... (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 39,581 2,364 9,043 2,261 3,280 3,630 2,270 7,198 1,447 698 1,495 1,254 4,641 Deposits: Member hank reserves 19,093 767 5,739 729 1,339 812 971 2,863 625 472 846 966 2,964 U.S. Treasurer--general a ccount 299 30 70 22 5 5 15 27 22 15 34 12 42 Foreign 196 10 1/ 48 11 18 10 12 28 7 5 Q 12 26 Other 399 * 1/334 1 1 3 1 3 * # 2 1 53 Total deposits 19,987 807 6,191 763 1,363 830 999 2,921 654 492 891 991 3,085 Deferred availability cash items 7,252 534 1,300 425 536 599 586 1,189 364 241 417 387 674 Other liabilities and accru ed dividends 271 13 82 12 21 18 14 42 9 5 10 10 35 TOTAL LIABILITIES 67,091 3,718 16,616 3,461 5,200 5,077 3,869 11,350 2,474 1,436 2,813 2,642 8,435 CAPITAL ACCOUNTS Capital paid in 568 27 147 30 51 30 35 82 20 14 25 33 74 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 166 8 42 8 13 12 10 28 5 3 7 6 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ,68,376 3,780 16,949 3,529 5,31^ 5,147 3,947 11,539 2,518 1,466 2,869 _2,_713_ 8,605 Contingent liability on ace ept- » i ances purchased for forei m c 0 rre s ponde nts 1 203 i 3/ 57 11 18 10 12 28 <~? 5 9 11 26 9 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 41,599 j 2,44o 9,542 2,326 3,5^0 3,744 2,419 7,513 1,521 736 1,557 1,363 4,898 Collateral for F. R. notes: Geld certificate account 6,442 ! 500 1,000 490 6C0 725 450 1,100 31C 127 225 180 735 Eligible paper 1 48 5 •+3 U. S. Government securiti es [36,471 2,016 8,700 2,000 3, coo 3,06C 2,000 6,500 1,31C 655 1A00 1,230 4,600 Total collateral 142,961 1 2,516 9,700 2,495 3,6CC 3,785 2,450 7,6co 1,663 782 1,625 i,4io 5,335 1 l/After deducting $lk8 million participations of other Federal Reserve Banks. 2/lncludes IMF gold'deposit. * Less then $500,0C0, 3/After deducting §ik6 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis