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 / '"*?P?f8p Condition Statement of F.R. Banks H.4.1 For immediate release r,;cember 22, 1966 The average of daily figures of total member bank reserves held during the week ended December 21, increased $352 million to $23,86*1 million. Estimated currency and coin of member banks increased $26 million and their reserve balances at the Federal Reserve Banks increased $326 million. Estimated required reserves increased $66l million; and estimated excess reserves decreased $309 million to $209 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $263 million, compared with the revised net borrowed figure of $129 mil lion the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $639 million in Federal Reserve float, $44 million in acceptances held under repurchase agreements, and a decrease of $31 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $175 million in member bank borrowings, and increases of $76 million in Treasury deposits with F. R. Banks, and $72 million in currency in circulation. Total Reserve Bank credit increased $401 million. As of Wednesday, December 21, 1966, holdings of U. S. Government securi ties bought outright were $59 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $323 million higher, and member bank borrowings were $1*3 million lower. Outright holdings of bills, notes, and bonds increased $4l million, $14 million, and $4 million, respectively. Average of daily figures Member bank reserves, Week ended Change from weekended Wednesday, Reserve Bank credit, Dec. 21, Dec. 14, Dec. 22, Dec. 21, and related items 1966 1966 1965 1966 (in millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright—System account 43,126 - 66 +2,324 43,251 Held under repurchase agreements 3^3 + 26 + 321 668 Special certificates Federal Agency obligations-- - 72 Held under repurchase agreements 23 23 24 Acceptances-- + 7 Bought outright 66 + 4 69 Held under repurchase agreements 93 + 5 + 36 121 Discounts and advances— + 44 Member bank borrowings 472 -175 + 254 291 Other 13 - 16 13 - 8 Float 2,671 - 205 2,751 +639 Total Reserve Bank credit 46,808 +4151 +2,742 47,188 Gold stock 13,158 - 651 13,159 Treasury currency outstanding 6,291 + 8 + 719 6,293 66,257 +410 +2,810 667650 Currency in circulation 44,675 + 72 +2 308 44,809 Treasury cash holdings 1,188 - 11 + 386 1,201 Treasury deposits with F. R. Banks 203 + 76 - 517 312 Foreign deposits with F. R. Eanks 155 - 26 + 9 152 Other deposits with F. R. Banks 4l6 + 4 + 186 409 Other_F. R. accounts (net) 32 - 31 - 327 37 46,669 +~54 +2,045 46,920 Member bank reserves: With Federal Reserve Banks 19,588 +326 + 766 19,720 Currency and coin (estimated) 4,276 + 26 + 294 4,695 Total reserves held 23,864 +352 +1,060 2V«0 Required reserves (estimated) 23,655 +661 +1,085 23,836 Excess reserves (estimated) 209 -309 - 25 579 On December 21, 1966, U. S. Government securities heldi n custody by the Federal Reserve Banks for foreign account were $7,524 million an increase of $145 million for the week and a decrease of $806 million from thec omparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (in millions of dollars) Change since Dec- 21, Dec,, 14, Dec- 22, 1966 1966 1965 A S S E TS 16 9hh Gold certificate account 10,837 + 6 + 108 Redemption fund for F. R. notes 1,842 + 22 - 836 Total gold certificate reserves 12,679 + Cash (644) 291 + 177 Discounts and advances 304 +3 + 6 Acceptances: Bought outright 69 5 + 5 Held under repurchase agreements 121 7+ + 66 Federal Agency obligations— 24 24 Held under repurchase agreements U. S. Government securities: Bought outright-- ^ , t Bills H^16 kl +2A63 Certificates M 51 " +M51 Notes 21,292 + 1+ -3,536 Bonds 6,192 + h -, 358 Total bought outright ^ 51 + 59 +2,620 Held under repurchase agreements °°8 + 323 + °°8 Special certificates "" "" Total U. S. Government securities 43,919 ± 3«2 +3,25b Total loans and securities +^37 + hlB +3,389 Cash items in process of collection (2,0^3) 9>+38 +1,578 + 8^9 Bank premises 107 + 3 +3 Other assets l/ 1,358 j_ 18 + +22 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,687) 68,310 +2,04l ±}i±99l L I A B I L I T I ES Federal Reserve notes (Gkk) 39,528 70 +1,952 DsDOsits* Member hank reserves 19,720 +1,022 +1,592 U. S. Treasurer--general account 312 + 39 531 Foreign 152 - 1 4 - 39 Other 2/ 409 - 5 + 189 Total deposits 20,593 +1,042 +1,211 Deferred availability cash items (2,043) 6,687 + 891 + 725 Other liabilities and accrued dividends 256 + 1 + 52 TOTAL LIABILITIES (2,687) 67,064 +2,004 +3,940 C A P I T AL ^ O C f i U N TS Capital paid in ~" 569 ~ + 21 Surplus 551 -- + 27 Other capital accounts 126 37 + l6 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31«6$> - 3*8$ Contingent liability on acceptances purchased for foreign correspondents 197 - 6 + 54 * Figures in parentheses are the eliminations made in the consolidating process, l/ Includes assets denominated in foreign currencies and IMF gold deposited. g[_ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AM) SECURITIES, DECEMBER 21, I966 (Acceptances and securitie s held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptances Holdings Weekly changes Within 15 days 302 128 2,212 +531 16 days to 90 days 4 62 8,064 -316 91 days to 1 year -- -- 24,828 +159 Over 1 year to 5 years -- -~ 7,451 + 5 Over 5 years to 10 years -- -- 990 + 2 Over 10 years -- -- 398 + 1 To+.nl ~^nA i on )iO OL^ -1-0A0 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION CF EACH FEIEP.AL RESERVE BANK ON LECEMBER 21, 1966 San New Phila Cleve- Rich Minne- Kansas Total Boston Atlanta Chicago lallas Fran York delphia land mond Louis apolis City cisco (in millions of dollars) A S S E TS Geld certificate account 10,837 668 2,465 598 962 995 594 1,968 343 189 460 342 1,253 Redemption fund for F. R. notes 1,842 101 kkk 96 156 161 103 332 64 32 72 61 220 Total gold certificate reserves 12,679 769 2,909 694 1,118 1,156 697 2,300 407 221 532 4C3 1,473 F. R. notes of other Banks 644 39 159 22 67 63 62 62 20 19 22 32 77 Other cash 291 8 29 6 47 15 38 46 31 8 13 18 32 liscounts and advances 304 •7 kl n: r 4 63 147 6 O 15 3 C Acceptances: Bought outright 69 69 -- Held under repurchase agreements 121 121 Federal Agency obligations-- Held under repurchase agreements 24 2k U. S. Government securities: Bought outright-- Bills 11,k±6 608 2,12k 592 928 825 624 1,951 4oi 228 413 44i 1,681 Certificates 4,351 232 1,038 226 354 314 237 744 153 87 158 168 640 Notes 21,292 1,134 5,C80 1,105 1,733 1,538 1,164 3,638 748 425 771 622 3,134 Bonds 6,192 33C 1,477 321 504 448 338 1,058 217 123 225 239 912 Total 43,251 2,30^ 10,319 2,244 3,519 3,125 2,363 7,391 1,519 863 1,567 1,670 6,367 Held under repurchase agreements 668 668 Total U. S. Government securities 43,919 2,304 10,987 2,244 3,519 3,125 2,363 7,391 1,519 663 1,567 1,670 6,367 Total loans and securities 44,437 2,311 11,242 2,249 3,524 3,129 2,426 7,538 1,525 866 1,582 1,673 6,372 Cash items in process of collection 11,kSi 730 2,l42 629 781 926 884 1,932 676 362 759 562 l, 098 Eank premises 107 3 9 3 5 6 20 20 8 3 11 10 9 Cther assets l/ 1,358 57 508 61 ICC 64 68 169 40 27 46 61 155 TOTAL ASSETS TO, 997 3,917 16,996 3,664 5,642 5,359 4,195 12,O67 2,707 1,506 2,967 2,759 9,216 l/ 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 OP EACH FEDERAL RESERVE EANK ON.IECEMBER 21, 1966 Nev Phila Cleve Rich St. Minne Kansas §an Total ! Eoston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 40,172 2,395 9,217 2,300 3,335 3,684 2,325 7,289 1,474 708 3-/502 1,276 4,667 reposits: Member bank reserves 19,72C 79C 5,2C8 781 1,482 854 1,025 3,079 7C3 506 876 995 3,421 U.S. Treasurer— general account 312 1 30k • * 1 1 1 1 1 * * 2 F O o t r h e e i r gn 1 Ue 5 o 2 . 7 1 I/335 8 1 1 1 3 3 7 8 2 2C 1 * 5 6 8 3, 6] Total deposits ,20,593 799 5,896 790 1,496 865 1,C36 3,101 510 885 1,0C4 3,502 709 Deferred availability cash items 8,73C i 65c 1,487 497 681 727 745 1,453 473 253 517 398 849 Other liabilities and accrued dividends 256 1 13 75 11 2C 16 1? 41 8 6 Q TO TOTAL LIABILITIES 69,751 3,857 16,675 3,598 5,532 5,292 4,119 11,884 2,664 1,477 2,913 2,688 9,052 CAPITAL ACCOUNTS Capital paid in I 569 i 27 148 3© 51 30. 35 82 2C 14 25 33 74 Surplus : 551 27 144 30 5© 28 3 i 79 1 13 24 1 Other capital accounts 126 6 31 6 <5 22 2 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,997 ,i \.917 16,, 998 ^664 5,642., 5,?f?9 4,195 12,067 2.7C7 1.5C6 2.067 2,7^9 9,216 Contingent liability on accept ances purchased for foreign correspondents 197 9 1/ 52. 1C 18 1C __12__ 28 7__ e! SL. 11 26 FEDERAL RESERVE AGENT'S ACCOUNTS F. R # notes outstanding 42,089 2,473 9,658 2,366 3,584 3,784 2,456 7,601 1,542 739 1,573 1,373 4,94o Collateral for F. R. notes: Gold certificate account 6,522 5©e 1,CCC 5CC 6CC 795 45c 1,1C0 310 127 225 18C 735 Eligible paper 9 3 6 U. S # Government securities 36,956 2,016 8,900 2, COO 3,650 3,C45 2,C5C 6,700 1,310 655 1.40C 1.2^0 4.6C3 Total collateral 43,487 2,516 9,900 2,503 3,650 3,84c 2,500 7,8CC 1,626 782 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. 1/ After deducting $11*5 million participations of other Federal Reserve Banks • Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis