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^T^** Condition Statement of F.R. Banks H.4.1 For immediate release December 29, I966 The average of daily figures of total member bank reserves held during the week ended December 28, increased a net of $286 million to $24,l6l million. Estimated currency and coin of member banks decreased $103 million and their reserve balances at the Federal Reserve Banks increased $3^9 million. Estimated required reserves increased $46 million; and estimated excess reserves increased $2^0 million to $436 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $112 million, compared with the revised net borrowed figure of $276 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $315 million in U. 8. Government securities held under repurchase agreements, $137 million in U. S. Government securities bought outright, and $106 million in Federal Reserve float. The principal offsetting changes were increases of $1^9 million in Treasury deposits with Federal Reserve Banks and $98 million in currency in circulation. Total Reserve Bank credit increased $660 million. As of Wednesday, December 28, 1966, holdings of U. S. Government securi ties bought outright were $12 million higher than a week earlier and member bank borrowings were $666 million higher. Outright holdings of bills decreased $5 mil lion, notes and bonds increased $10 million and $7 million, respectively. Average of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 28, Dec. 21, 1 Dec. 29, Dec. 28,• and related items 1966 1966 1 1965 1966 (In aai llions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 43,263 +137 +2,632 43,263 Held under repurchase agreements 658 +315 + 437 672 Federal Agency obligations-- Held under repurchase agreements 26 *- 3 26 51 Acceptances — Bought outright 69 + 3 69 <• 3 Held under repurchase agreements 115 + 22 f 49 113 Discounts and advances-- Member bank borrowings 548 + 76 + 2 957 Other 11 - 2 - 35 — Float 2,777 +106 + 64 2,423 Total Reserve Bank credit 47,468 +666 +3,179 47,548 Gold stock 13A59 + 1 - 627 13,159 Treasury currency outstanding 6,297 + 6 + 712 6,301 66,924 766T +3,265 67,008 Currency in circulation 44,773 + 98 +2,425 44,952 Treasury cash holdings 1,191 + 3 + 374 1,196 Treasury deposits with F. R. Banks 352 +149 - 335 249 Foreign deposits with F. R. Banks 154 - 1 5 168 Other deposits with F. R. Banks 425 + 9 + 199 415 Other P. R. accounts (net) 52 + 20 - 297 58 46,947 +278 +2,361 47,038 Member bank reserves: With Federal Reserve Banks 19,977 +389 + 903 19,970 Currency and coin (estimated) 4,184 -103 + 178 4,959 Total reserves held 24,l6l +286 +1,081 24,929 Required reserves (estimated) 23,725 + 46 +1,108 23,963 Excess reserves (estimated) 436 +240 - 27 966 On December 28, 1966, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $J,6k2 million, an increase of $118 million for the week and a decrease of $7^2 million from the comparable 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. 28; Dec. 21, Dec. 29, 1966 1966 1965 A S S E TS Gold certificate account 10,836 - 868 Redemption fund for F. R. notes 1,842 + 110 Total gold certificate reserves 12,678 Cash (681) 295 + 4 + 176 Discounts and advances 957 + 653 + 417 Acceptances: Bought outright 69 4 Held under repurchase agreements 113 8 22 Federal Agency obligations-- Held under repurchase agreements 51 27 51 U« S. Government securities: Bought outright- Bills 11,411 5 +2,158 Certificates 4,351 -- +M51 Notes 21,302 + 10 -3,526 Bonds 6,199 + 7 - 351 Total bought outright 43,263 + 12 +2,632 Held under repurchase agreements 672 + 4 + 414 Total U. S. Government securities 43,935 + ~IS +3,046~ Total loans and securities 45,125 + 588 +3,532 Cash items in process of collection (1,972) 7,980 -1,, 458 + 819 Bank premises 107 — + 4 Other assets l/ 1,376 + 18 + 403 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,653) 67^561 - "7g9 +4,176 L I A B I L I T I ES Federal Reserve notes (681) 39,661 + 133 +2,297 Deposits: Member bank reserves 19,970 + 250 +1,228 U. S. Treasurer--general account 249 - 63 - 284 Foreign 168 + 16 + 9 Other 2/ 415 + 6 + 188 Total deposits 20,802 + 209 +1,141 Deferred availability cash items (1,972) 5,557 -1, 130 + 611 Other liabilities and accrued dividends 256 — + 50 TOTAL LIABILITIES (2,653) SS7276 - 788 +4,099 C A P I T AL A C C O U N TS Capital paid in 570 1 + 22 Surplus 551 — + 27 Other capital accounts 164 38 + 28 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 31-4$ .2$ 3-9$ Contingent liability on acceptances purchased for foreign correspondents 192 - 5 + 49 * Figures in parentheses are the eliminations mia de in the consolidating ;p rocess. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 28, 1966 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximiam maturity oft he agreements.) U. S. Government securities and Discounts and Federal Agency obligations advances Acceptamc es Holdings Week!l y changes Within 15 days 953 123 1,893 -319 16 days to 90 days 4 59 8,629 +565 91 days to 1 year 24,613 -215 Over 1 year to 5 years 7,458 + 7 Over 5 years to 10 years 991 + 1 Over 10 years 402 + 4 Total 957 182 43,986 + 43 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 28, i960 San New Phila Cleve- Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco '• '• - . . .. -,- , . . (in millions 5 of dollars) A S S E TS Gold certificate account 10,836 700 2,5l4 678 864 1,065 519 1,832 378 176 1+51+ 387 1,269 Redemption fund for P. R. notes 1,81+2 101 kkk 96 156 l60 103 332 61+ 32 72 62 220 Total gold certificate reserves 12,678 801 2,958 774 1,020 1,225 622 2,161+ 1+1+2 208 526 1+1+9 1,^89 F. R. notes of other Banks 681 1+1+ 160 29 77 69 63 67 2k 19 22 31 76 Other cash 295 8 30 6 1+8 16 37 k7 31 8 11+ 18 32 Discounts and advances 957 35 1+76 ll+ 9 k9 23 203 26 1+ 1+0 # 78 Acceptances: Bought outright 69 -- 69 -«. -.- -- -- -- -- -- -- -- Held under repurchase agreements 113 113 -- Federal Agency obligations — Held under repurchase agreements 51 51 U- S. Government securities: Bought outright-- Bills 11, i+ll 608 2,850 592 929 821+ 655 1,950 1+01 227 1+27 396 1,552 Certificates 4,351 232 1,086 226 354 3l4 250 71+1+ 152 87 163 151 592 Notes 21,302 1,135 5,320 1,105 1,733 1,539 1,224 3,61+0 71+8 1+25 796 74o 2,897 Bonds 6,199 330 1,51+8 322 50I+ 1+1+8 356 1,059 218 12l+ 232 215 81+3 Total 43,263 2,305 10,801+ 2,21+5 3,520 3,125 2,1+85 7,393 1,519 863 1,618 1,502 5,881+ Held under repurchase agreements 672 _.- 672 -- -- -- -- -- -- -- -- -- -- Total U# S. Government securities 43,935 2,305 11,^76 2,21+5 3,520 3,125 2,1+85 7,393 1,519 863 1,618 1,502 5,884 Total loans and securities 45,.125 2,34o 12,185 2,259 3,529 3,174 2,508 7,596 1,545 867 1,658 1,502 5,962 Cash items in process of collection 9,952 i 653 1,758 553 619 878 802 1,631 1+95 285 760 543 975 Bank premises 107 i 3 9 3 5 6 20 20 8 3 11 10 9 Other assets l/ 1,376 1 57 515 62 103 65 69 173 1+1 27 k9_ 61 154 TOTAL ASSETS 70,2ll+ 3,9C6 17,615 3,686 5,1+01 5,433 4,121 11,698 2,586 l,4i7 3,01+0 2,6ll+ 8,697 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

E.4.1(c) STATEMENT OF COWCITIOK OF EACE FEDERAL RESERVE BANK ON DECElvffiER 28, I966 1 1 7— New Cleve Rich- St. Minne- San Phila Total Boston York delphia land j mond Atlanta IChicago Louis 1 apolis Ka C n i s t a y s j E allas F c r i a s n c o (In millions of dollars) T T / \ r > TT T U I T T PC Federal Reserve notes 40,342 2,4o4 9,257 2,312 3,337 3,696 2,333 7,317 1,^75 708 1,506 1,283 4,714 Deposits : Member bank reserves 19,970 809 0,067 825 1,383 908 1,068 2,913 707 450 898 966 2,976 U.S. Treasurer--general a ccount 249 1 241 # 1 1 1 1 * * * 1 2 Foreign 168 8 1/ 50 9 14 8 9 23 6 4 7 9 21 Other 415 * 2/350 2 * 3 1 1 * 2 3 2__ 51 Total deposits 20,802 818 6,708 836 1,398 920 1,079 2,938 713 456 908 978 3,050 Deferred availability cash items 7,529 610 1,238 460 532 731 617 1,213 346 217 561 272 732 Other liabilities and accrue d dividends 256 12 78 10 20 11 14 41 8 O 9 9 32 TOTAL LIABILITIES 68,929 3,844 17,281 3,618 5,287 5,364 4,043 11,509 2,542 1,387 2,984 2,542 8,528 CAPITAL ACCOUNTS Capital paid in 570 27 148 30 51 30 35 83 20 14 25 33 74 Surplus 551 27 144 30 50 28 33 79 19 13 24 32 72 Other capital accounts 164 8 42 8 11 10 27 5 3 23 7 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 70,21** 3,906 17,615 3,686 5,4oi 5,433 4,121 11,698 2,586 1,417 3,o4o 2,6l4 8,697 Contingent liability on acee ptances purchased for foreig n correspondents 192 2_ 3./ 50 10 17_ 10 12 27 7 5 9 11 25 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 2,469 9,693 2,361 3,580 3,795 2,2+56 7,652 1,51+0 737 1,582 1,376 4,949 Collateral for F. R. notes: Gold certificate account 500 1,000 500 600 795 450 1,100 310 127 225 180 735 Eligible paper 9 „ „ „ „ 26 U. S. Government securities 2,016 8,900 2 ? ooo 3,050 3,045 2,050 6,700 1,110 655 1,400 JLJJ£0_ AL.6CO. Total collateral 2,516 9,900 2,509 3,650 3,84c 2,500 7,800 1,646 782 1,625 l,4io 5,335 1/ After deducting $118 million participations of other Federal Reserve Banks. 2/ includes IMF gold deposit. * T ess than $500,000. J3/ After deducting $142 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis