H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting lank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 July 9, 19& The average of daily figures of total member bank reserves held during the week ended July 8 was unchanged at $20,845 million. Estimated currency and coin of member banks decreased $342 million and their reserve balances at the Federal Reserve Banks increased by the same amount. Estimated required Reserves increased $18 million: and estimated excess reserves decreased $18 million to $387 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $124 million, compared with the revised figure of $184 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $392 million in U. S. Government securities bought outright and $102 million held under repurchase agreement, $64 million in Federal Reserve float, $42 million in member bank borrowings, and $31 million in acceptances held under repurchase agreement, and a decrease of $31 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $301 million in currency in circulation. Total Reserve Bank credit increased $628 million. As of Wednesday, July 8, holdings of U. S. Government securities bought outright were $219 million higher than a week earlier, U- S- Government securities held under repurchase agreement were $118 million higher, and member bank bor rowings were $8 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 8, July 1, July 10, July 8, and related items 19^4 JSM. 1964 millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 35,215 +392 +2,907 35,217 Held under repurchase agreement 120 +102 - 224 243 Acceptances- Bought outright ^7 + 7 48 Held under repurchase agreement 61 + 31 f- 58 56 Discounts and advances— Member bank borrowings 263 + 42 60 4l6 Other Float 1,882 + 64 156 Total Reserve Bank credit 37,588 +628 +2,844 37,^83 Gold stock 15,^63 + 1 - 228 15,463 Treasury currency outstanding 5,574 - 9 - 14 5,559 58,625 +620 +2,603 58,50 5 Currency in circulation 37,916 +301 +2,017 38,113 Treasury cash holdings 4l6 + 9 + 25 4l6 Treasury deposits with F.R. Banks 842 - 31 - 180 785 Foreign deposits with F.R. Banks 134 - 6 - 46 125 Other deposits with F.R. Banks 222 + 27 + 26 213 Other F.R. accounts (net) - 20 + l49 1,264 40,785 +278 +1,991 4o,9l6 Member bank reserves: With Federal Reserve Banks 17,84o +342 + 612 17,589 Currency and coin (estimated) 3,005 -3^2 + i4o 3,370 Total reserves held 20,845 + 752 20,959 Required reserves (estimated) 20,458 + 18 + 828 20,465 Excess reserves (estimated) 387 - 18 76 404 On July 8, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,043 million, an increase of $31 million for the week and an increase of $107 million from the compai-aMs date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATKM£M? 0? CONDITION OF THE TWELVE FEDERAL HEgEKVE BANKS Vin mini oirs or dollars Change since July 8, July i, July 10, 1964 1964 1563 A S S E TS Gold certificate account 13,729 - 18 - 376 Redemption fund for F. R. notes 1,456 + 18 + 158 Total gold certificate reserves 15,185 -- - 218 Cash (361) 124 - 14 - 206 Discounts and advances 4l6 - 8 + 285 Acceptances: Bought outright 48 ~_ + 8 Held under repurchase agreement 56 + 53 U. S. Government securities: Bought outright-- Bills 5,594 +219 + 2,359 Certificates -- -14,464 Notes 24,912 -- +15,106 Bonds 4,711 -- + 163 Total bought outright 35,217 +219 + 3,164 Held under repurchase agreement 243 +118 + 5 Total U> S. Government securities 35,460 +337 + 3,169 Total loans and securities 35,980 +329 + 3,515 Cash items in process of collection (1,128) 5,509 -468 + 162 Bank premises 103 -- + 1 Other assets 397 + 18 10 TOTAL ASSETS (1,489) 57,298 -135 + 3,244 L I A B I L I T I ES Federal~Reserve notes (361) 32,8l6 +323 + 2,013 Deposits: Member bank reserves 17,589 - 56 + 1,347 U. S. Treasurer--general account 785 - 86 - 405 Foreign 125 - 23 - 59 Other 213 + 10 + 12 Total deposits 18,712 -155 + ""895 Deferred availability cash items (1;, 128) 4,006 -334 + 188 Other liabilities and accrued dividends 106 + 6 + 29 TOTAL LIABILITIES (1., 489) 55,640 -160 + 3,125 C A P I T AL A C C O U N TS Capital paid in - - - 516 + 2 + 34 Surplus 990 -- + 56 Other capital accounts 152 + 23 + 29 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,1*89) 57,298 ^L35 + 3.244 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shorn on the following pages--not consolidated) 29*35&, 2.2yo Contingent liability on acceptances purchased for foreign correspondents ihk - 2 + 6l * 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 8, 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 Discounts and Changes advances Acceptances Holdings during week Within 15 days 411 64 1,275 +321 16 days to 90 days 5 40 4,617 - 61 91 days to 1 year ** -- 12,802 + 77 Over 1 year to 5 years .. — 14,691 Over 5 years to 10 year* -- 1,836 Over 10 years -• -- 239 Total 416 104 35,460 +337 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 8, 1964 San Total Boston New Phila- Cleve- Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (Tn^ll3Zons~6T~d6T .ars) A S S E TS Gold certificate account 13,729 777 3,639 727 1,155 868 687 2,097 490 26o 547 544 1,938 Redemption fund for F. R. notes _1A56 81 341 80 126 124 86 262 _ 59 27 56 46 168 Total gold certificate reserves 15,185 858 3, 807 1,281 992 773 2,359 - 559- 287 603 590 2,10b F- R- notes of other Banks 361 12 136 16 20 23 35 21 8 25 12 18 35 Other cash 124 9 4o 2 6 10 14 13 5 3 4 4 14 Discounts and advances 4l6 13 193 10 24 100 23 15 20 Acceptances: Bought outright 48 48 Held under repurchase agreement 56 56 U. S. Government securities: Bought outright-- Bills 5,594 295 1,340 302 440 396 323 964 228 111 230 209 756 Certificates Notes 24,912 1,313 5,971 1,345 1,957 1,762 1,438 4,293 1,014 494 1,023 934 3,368 Bonds 4,711 248 1,129 255 370 _^ 333 272 8ll 192 93 194 177 637 Total 35,217 T785S 874"4~0 17902" 2/F67 2749I 27033" 617558 17434" "698"" 17557 17320 "4776T Held under repurchase agreement 243 243 Total U. S. Government securities 35,460 1,856 8,683 1,902 2,767 2jm. 2,033 6,068 1,434 3 1,447 1,320 4,761 Total loans and securities 35,980 1,869 8,980 1,912 2,769 2,498 2,057 6,168 1,436 705 1,470 1,335 4,781 Cash items in process of collection 6,637 463 1,166 397 566 479 536 1,119 3C8 217 372 341 673 Bank premises 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets 397 20 99 21 33 25 23 65 15 9 17 17 53 TOTAL ASSETS 58,787 3,234 14,409 3A58 4,681 4,032 3,456 9,767 2,327 1,250 2,484 2,317 7,672 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 OH JULY 8, 1964 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dol.1. ars") L I A B I L I T I ES Federal Reserve notes 33,177 1,963 7,933 1,926 2,803 2,732 1,912 5,976 1,338 590 1,289 1,002 3,713 Deposits: Member bank reserves 17,589 722 4,779 740 1,246 783 959 2,595 639 404 798 89^ 3,030 U.S. Treasurer-general at: count 785 55 221 57 47 55 53 4l 37 4i 63 50 65 Foreign 125 6 1/37 7 11 6 7 17 4 3 5 6 16 Other 213 "128 1 l 4 i__ 1 1 3 4 69 Total deposits 18,712 783 5,165 805 1,305 848 '1,020 2,65^ 681 " 448~ 869' 954 3,180 Deferred availability cash items 5,134 4o4 843 330 417 362 423 881 247 171 249 262 545 Other liabilities and accna ed dividends 106 6 30 5 8 6 6 17 3 4 13 4 4 TOTAL LIABILITIES 57,12y 3,156 13,971 3,066 ^,533 3,9^8 3,361 9,528 2,270 1,212 2,4ll 2,222 7,^51 CAPITAL ACCOUNTS Capital paid in 516 24 136 29 46 26 30 73 18 12 23 30 69 Surplus 990 hi 264 55 90 56 140 34 23 57 132 Other capital accounts 152 i. 38 8 12 9 9 26 5 3 7 8 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 58,787 3,234 14,409 3,158 ___4 i 68l___ i>£32_ J^.^1- „2J£L. _2,327_ ._k-2.5<L_ 2,484 2,317 7,672 Contingent liability on acc eptances purchased for forei gn correspondents 144 7 2/38 8 13 7 8 21 5 3 7 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,376 1,962 2,985 2,8l4 1,996 6,197 1,394 613 1,33^ 1,070 3,875 Collateral for F. R. notes: Gold certificate account 1,650 405 500 565 3^0 1,100 260 112 272 180 735 Eligible paper 10 2 23 U. S. Government securities 6,850 1,600 2,550 2,285 1,700 5,177 1,210 505 1,100 1,000 3,400 Total collateral 2,033 8,500 2,015 3,050 2,850 2,o4o 6,277 1,472 617 1,395 1,180 4,135 1/ After deducting $ 88 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $LC6 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis