H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftct'mi lank Itstrvts ud Condition Stottntit if F.I. Iiiks For immediate release July 2, 196k The average of daily figures of total member "bank reserves held during the week ended July 1 increased a net of $6k million to $20,79^ million. Esti mated currency and coin of member banks decreased §k million and their reserve balances at the Federal Reserve Banks increased $68 million. Estimated required reserves increased $77 million; and estimated excess reserves decreased $13 mil lion to $3^5 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $12^ million, compared with the revised figure of $126 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of fyklk million in holdings of U. S. Government securities and a decrease of $32 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $318 million in Federal Reserve float and an increase of $4l million in currency in circulation. Total Reserve Bank credit increased $85 million* As of Wednesday, July 1, holdings of U- S Government securities bought outright were $^67 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $125 million higher, and member bank bor rowings were $331 million higher. Average 5s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 1, June 2k, j July 3, July 1, _ an(3- related items 1264 196k __L_1L£3 1Q64 Jtt 1 millions of dollars) Reserve Bank credit: U. 80 Government securities- Bought outright—System account 34,823 +396 +2 ,7^5 3^,998 Held under repurchase agreement 18 + 18 - 153 125 Acceptances— Bought outright h9 «. __ + 10 48 Held under repurchase agreement 30 - 1 + 25 56 Discounts and advances- Member bank borrowings 221 - 11 1C8 424 Other Float 1,818 -318 + 167 1,637 Total Reserve Bank credit 3"6,9:So + 85 +2 M 37,288 Gold stock 15,462 + 1 - 271 15,^63 Treasury currency outstanding 5,583 + 1 - 4 5,583 58,005 + 87 +2 M3 58,334 Currency in circulation 37,615 + 4l +2 ,034 37,799 Treasury cash holdings 407 + 12 + 24 417 Treasury deposits with F. R. Banks 873 - 32 + 10 871 Foreign deposits with F. R. Banks l4o + 2 - 33 148 Other deposits with P. R. Banks 195 - 8 - 40 203 Other F. R. accounts (net) 1,276 + 3 + 175 1,251 40,507 + 19 ~2~, 171 4o,"689 Member bank reserves: With Federal Reserve Banks 17,498 + 68 + 241 17,645 Currency and coin (estimated) 3,296 - 4 + 311 3,476 Total reserves held 20/794 T"6"4 + 552 21,121 Required reserves (estimated) 20,449 + 77 + 639 20,632 Excess reserves (estimated) 345 - 13 - 87 489 On July 1, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,012 million, a decrease of $160 million for the week and an increase of >37 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 THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since July 1, June 247 July 3, 1964 1964 1963 A S S E TS Gold certificate account 13,7^7 - 10 - 412 Redemption fund for F. R. notes 1A38 + 6 + 140 Total gold certificate reserves 15,185 . k - 272 Cash (^12) 138 - 3 _ 200 Discounts and advances k2k +331 • l4i Acceptances: Bought outright k& -- + 8 Held under repurchase agreement 56 + 3 + 52 U. S. Government securities: Bought outright-- Bills 5,375 +467 + 1,820 Certificates -- -- -14,464 Notes 2^912 -- +15,131 Bonds 4,711 __ + 222 Total bought outright 34,998 +467 + 2,709 Held under repurchase agreement 125 +125 - 269 Total U* S. Government securities 35,123 +592 + .2,440 Total loans and securities 35,651 +926 + 2,359 Cash items in process of collection (1,347) 5,977 -264 + 369 Bank premises 103 -- + 1 Other assets 379 + 39 - 20 TOTAL ASSETS (1,759) 57763 +6§4 + 2,237 L I A B I L I T I ES Federal Reserve notes (412) 32,493 +221 + 1,763 Deposits: Member bank reserves 17,645 +628 + 107 U. S. Treasurer--general account 871 . 96 - 13 Foreign 148 + 9 - 19 Other 203 + 6 + 11 Total deposits 18,867 +547 + 86 Deferred availability cash items (1,347) 4,340 - 80 + 254 Other liabilities and accrued dividends 100 - 16 + 23 TOTAL LIABILITIES (1,759) 55,800" +672 + 2,126 C A P I T AL A C C O U N TS Capital paid in 514 + 2 + 33 Surplus 990 — + 56 Other capital accounts 129 + 20 + 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,759) 57,433 +694 + 2,237 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (ccmput ed from figures as shown on the fol lowing pages—not consolidated) 29.3$ -.5$ - 1*8$ Contingent liability on acceptances purchased for foreign correspondents lh6 -2 + 62 * Figures in parentheses are the eliminations made in the consolidating process; . see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 1, 1964 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Di;s counts and Changes advances Acceptances Holdings during wee} J Within 15 days 418 65 954 +258 16 days to 90 days 6 39 4,678 +215 91 days to 1 year ** 12,725 +119 Over 1 year to 5 year; «. -- 14,691 Over 5 years to 10 years -- -- 1,836 Over 10 years -- -~ 239 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1("b) -STKraMEHTOT^eOflK^ 1, 1964 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 33,7Vf bio 3,510 727 1,055 949 791 2,337 556 247 567 467 1,A'5 Redemption fund for F. R. notes 1,438 82 341 79 124 114 86 257 59 27 56 45 168 Total gold certificate reserves 15A85 718 3,851 806 1,179 1,063 877 2,594 615 274 623 512 2,073 F. R. notes of other Banks 1*12 18 145 24 27 23 42 24 13 27 11 22 36 Other cash 138 9 40 4 8 11 15 14 6 4 4 6 17 Discounts and advances 424 9 14 T 17 42 19 150 19 8 42 32 71 Acceptances: Bought outright 48 -- 48 -- -- -- -- -- -- -- -- -- _.. Held under repurchase agreement 56 56 - " U. S. Government securities: Bought outright- Bills 5,375 261 1,368 286 44l 361 281 910 205 110 214 213 705 Certificates -- -- --. -~ -- -- __ -- -- -- -- -- -- Notes 24,912 1,300 6,341 1,325 2,o46 1,676 1,301 4,217 951 508 993 988 3,266 Bonds ^,711 246 1,199 250 387 317 246 798 180 95 188 187 618 Total 34,998 1 1,827 8,908 l,86l 2,874 2,354 1,828 ~ 5,925 1,336 713 1,395 ~ 1,388 4,589 Held under repurchase agreement „_12JL -- 125 -- -- -- -- -- -- -- -- -.- -- Total U. S. Government securities 35,123 1,827 9,033 1,861 2,874 2,354 1,828 5,925 1,336 713 _i*325_ 1,388 4,589 Total loans and securities ;35,651 1,836 9,151 1,862 2,891 2,396 1,847 6,075 1,355 721 1,437 1,420 4,660 Cash items in process of collection 1 7,324 590 1,518 444 517 519 597 1,170 320 211 4o4 353 681 Bank premises 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets ! 379 19 96 20 33 24 21 60 15 8 17 17 49 TOTAL ASSETS 59,192 3,193 14,809 3,163 4,661 4,o4l 3,417 9,959 2,330 1,249 2,502 2,342 7,526 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 1, 1964 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) L I A B I L I T I ES Federal Reserve notes 32,905 1,939 7,906 1,913 2,779 2,706 1,896 5,921 1,329 587 1,276 993 3,660 Deposits: Member bank reserves : 17,645 629 5,084 744 1,208 750 908 2,673 625 4oo 807 931 2,866 U.S. Treasurer-general a<: count 871 35 266 34 51 65 34 136 55 4i 56 23 75 Foreign 148 6 1/53 7 12 7 7 18 4 3 6 8 17 Other 203 # 122 1 1 3 l 3 * l 4 1 66 Total deposits 18,867 670 5,525 786 1,272 825 950 2,830 684 445 873 963 3,044 Deferred availability cash items 5,687 502 920 368 457 421 473 957 257 177 277 288 590 Other liabilities and accrued dividends 100 5 26 5 8 6 5 16 4 3 4 4 14 TOTAL LIABILITIES 57,559 3,U6 14,377 3,072 4,516 3,958 3,324 9,724 2,274 1,212 2,430 2,248 7,308 CAPITAL ACCOUNTS Capital paid in 5l4 24 136 29 46 25 29 73 18 12 23 30 69 Surplus 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 129 6 32 7 9 9 8 22 4 2 6 7 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 59.192 ... 3i.i9,3...1..4 ,809 3,l63_ 4,661 4,o4i 3.417 -2;95?__ 2,330 1,249 2,502 2,342 7,526 Contingent liability on ac<: eptances purchased for fore:L gn c orre spondent s 146 7 2/39 6 13 7 8 21 5 3 7 8 20 FEDERAL RESERVE AGENT* S ACCOUNTS F. R. notes outstanding 34,412 2,004 8,370 1,966 2,969 2,778 1,981 6,i4i 1,390 607 1,314 1,051 3,841 Collateral for F- R. notes: Gold certificate account 6,542 423 1,650 405 500 565 340 1,100 26c 112 272 180 735 Eligible paper 62 1 19 42 U. S. Government securities 28,847 1,610 6,850 1,600 2,550 2,245 1,700 5,177 1,210 505 1,100 9CC 3,400 Total collateral , 35,451 2,033 8,500 2,006 3,050 2,810 2,o4o 6,277 1,489 617 l,4i4 1,080 4,135 1/ After deducting $ 95 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $107 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis