H.4.1 Factors Affecting Reserve Balances of Depository Institutions

s2K&-. F E D E R AL R E S E R VE Factors Affecting link Reserves and Condition Statement of F.R. links For immediate release July 23, 1964 The average of daily figures of total member bank reserves held during the week ended July 22 decreased $565 million to $20,428 million Estimated currency and coin of member banks decreased $16 million and their reserve balances at the Federal Reserve Banks decreased $5^9 million. Estimated required reserves decreased $217 million; and estimated excess reserves decreased $3^8 million to $224 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by §65 million, compared with the revised figure of $112 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $638 million in U. S> Government securities bought outright and $27^ million held under repurchase agreements, $301 million in member bank borrowings, and $39 million in acceptances held under repurchase agreements. The principal offsetting changes were an increase of $4o8 million in Federal Reserve float, and decreases of $130 million in currency in circulation, $115 mil lion in Treasury deposits with Federal Reserve Banks, and $65 million in "other" F Ro accounts (net). Total Reserve Bank credit decreased $8^7 million. As of Wednesday, July 22, holdings of U. S* Government securities bought outright were $750 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $296 million lower, and member bank bor rowings were $22 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended 1 Wednesday, Reserve Bank credit, July 22, July 15, "July'24, I July 22, and related items 1964 1964 1963 1964 '(in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 34,392 -638 +2,705 34,160 Held under repurchase agreements -274 Acceptances- Bought outright 42 - 4 2 1 4l Held under repurchase agreements - 39 -- __ Discounts and advances- Member bank borrowings 159 -301 - 153 io4 Other 1 Float 2,195 +4o8 + 205 1,668 Total Reserve Bank credit 3b,709 ~84"7 +2,~759 35,973 Gold stock 15,463 15,463 - 170 Treasury currency outstanding + 4 5,567 5,566 - 18 57,818 -843 +2,571 57,003 Currency in circulation 37,969 -130 +2,271 37,927 Treasury cash holdings 444 + 19 + 53 458 Treasury deposits with F. R. Banks 770 -115 - 116 734 Foreign deposits with P. R. Banks 131 + 8 130 - 37 Other deposits with F. R. Banks 191 - 13 199 2 Other F. R. accounts (net) 1,158 - 65 1,140 + 96 40,664 -294 +2,267 j 4o,588 Member bank reserves: With Federal Reserve Banks 17,154 -549 + 304 16,415 Currency and coin (estimated) 3,274 - 16 + 196 3,640 Total reserves held 2b ,"528" ^565 + 500 20", 055 Required reserves (estimated) 20,20V -217 + 747 20,171 Excess reserves (estimated) 224 -348 - 247 -116 On July 22, 1964, U- S* Government securities held in custody by the Federal Reserve Banks for foreign account were $8,07*4- million, a decrease of $31 million for the week and an increase of $135 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k. 1(a) CONSOLlMTEC STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANtfS (In millions of dollars) Change since July 22, July 15, July 2k, 196^ 196^ A S S E TS Gold certificate account 13,721 3 317 Redemption fund for F. R. notes 5 Total gold certificate reserves 15,173 "5 * Cash (478) 138 + l4 - 220 Discounts and advances 104 - 22 + 29 Acceptances: Bought outright l+l 3 2 Held under repurchase agreements 17 U. S. Government securities: Bought outright-- Bills 4,537 - 750 + 1,605 Certificates -14,464 Notes 24,912 +15,106 Bonds 4,711 + 163 Total bought outright 34,160 - 750 + 2,410 Held under repurchase agreements - 296 Total U. S. Government securities 34,160 -1,046 +„2,410 Total loans and securities 34,305 -1,088 + 2,44l Cash items in process of collection (1,381) 5,902 - 972 + 7i4 Bank premises 103 + 1 Other assets 456 + 48 + 40 TOTAL ASSETS (1,859) -2,006 + 2,800 56,077 L I A B I L I T I ES Federal Reserve notes """ (478) ^ 136 + 2,133 Deposits: 32,666 Member bank reserves 16,415 - 935 + 450 U. S. Treasurer--general account 734 - 189 - 286 Foreign 130 + 3 - 47 Other 199 - 17 + 2 Total deposits 17,478 -1,138 + 119 Deferred availability cash items (1,381) 4,234 - 743 + U30 Other liabilities and accrued dividends 89 - 10 + l4 TOTAL LIABILITIES (1,859) 5*7W -2,027 + 2,696 C A P I T AL A C C O U N TS Capital paid in "" ~ 516 + 33 Surplus 990 + 56 Other capital accounts 104 + 21 + 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS( (11,,885599)) 56,077 -2,006 + 2,800 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages—not consolidated) 30.0$ + .7$ - 1.8$ Contingent liability on acceptances purchased for foreign correspondents l40 3 + 55 * 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 22, 1964 5 (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 xXo0o0 88 995577 - 209 16 days to 90 days k4 3333 44, 008877 - ij-37 91 days to 1 year **-** _-.-. 1122,',335500 - 400 Over 1 year to 5 years -• 14,691 Over 5 years to 10 yeairrss „ 1,836 Over 10 years „ • - 239 Total ioii 4T 357150 -1,046 ** Less than $500,000, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1i/b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 22, 1964 San New- Phila Cleve Rich- St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (in millions of dollars) A S S E TS Gold certificate account 13,721 665 3,300 731 1,026 946 831 2,494 570 250 617 502 1,789 Redemption fund for F. R. notes 1,452 83 338 81 127 120 86 261 60 26 56 47 167 Total gold certificate reserves 15,173 748 3,638 812 1,153 1,066 917 2,755 630" 276~ 573- 5T9" 1,956 F- R- notes of other Banks 478 26 29 39 49 28 14 3 S 15 21 47 Other cas:i 138 10 4 11 14 13 5 5 3 17 Discounts and advances 104 R 5 Q 3 4 4 54 2 5 8 7 4 Acceptances: Bought outright ! to 4i U. S. Government securities: Bought outright-- Bills | 4,537 240 1,127 246 381 306 244 749 176 91 181 178 618 Certificates Notes • 24,912 1,317 6,191 1,351 2,093 1,680 1,337 4,114 966 497 997 978 3,391 Bonds j 4,711 249 1,171 255 396 318 253 778 183 94 189 184 64l Total J 3"4~,"i5o 1,806 8;w 1,852 2,870 2,304 1,834 5,641 1,325 682 1,367 1,340 4,650 Held under repurchase agreements Total U. S. Government securities !34,i6o 1,806 8,489 1,852 2,870 2,304 1,834 5,64l 1,325 682 1,367 1,340 4,650 Total loans and securities 34,305 1,811 8,535 1,855 2,873 2,308 1,838 5,695 1,327 687 1,375 1,347 4,654 Cash items in process of collection 7,283 548 1,388 433 562 527 591 1,161 310 226 442 366 729 Bank premises 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets ! 456 23 116 25 39 28 25 71 18 9 20 21 61 TOTAL ASSETS 157,936 3,169 13,888 3,161 4,662 3,984 3,452 9,745 2,310 1,236 2,536 2,319 7,474 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 22, 1964 San New Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago jDallas 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 33,144 1,955 7,919 1,929 2,811 2,721 1,901 5,993 1,334 588 1,287 1,007 3,699 Deposits: Member hank reserves 16,4l5 628 4,351 725 1,154 701 922 2,498 624 385 795 868 2,764 U.S. Treasurer-general account 734 5^ &6 45 47 66 63 72 38 36 85 48 94 Foreign 130 6 1/41 7 11 6 7 17 4 3 5 7 16 Other 199 * 119 1 1 5 * 2 1 * 2 2 66 Total deposits 17A78 688 4,597 778 1,213 778 992 2,589 667 424 887 925 2,940 Deferred availability cash items 5,615 445 924 361 486 399 462 917 250 185 287 290 609 Other liabilities and accrued dividends 89 5 22 4 8 5 5 15 4 2 4 4 11 TOTAL LIABILITIES 56,326 3,093 13,462 3,072 4,518 3,903 3,360 9,514 2,255 1,199 2,465 2,226 7,259 CAPITAL ACCOUNTS Capital paid in 516 24 136 29 46 26 30 73 18 12 23 30 69 Surplus 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 104 5 26 5 8 6 6 18 3 2 5 6 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 57,936 _3,i69_ 13,868 3,161 4,662 3,984 _3,J+52_ JV^JL. 2,310 1,236 2,536 2,319 7,474 Contingent liability on accept ances purchased for foreign c orre spondent s l4o 6 2/37 8 13 7 8 20 5 3 6 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 34,786 2,023 8,356 1,996 2,996 2,819 1,997 6,235 l,4i6 616 1,333 1,085 3,914 Collateral for F. R. notes: Gold certificate account 6,627 423 1,670 425 500 605 340 1,100 260 112 277 180 735 Eligible paper 13 3 2 8 U. S. Government securities 29,315 1,650 6,850 1,700 2,550 2,245 1,700 5,400 1,210 510 1,100 1,000 3,400 Total collateral 35,955 2,073 8,520 2,128 3,050 2,850 2,040 6,500 1,472 622 1,385 1,180 4,135 1/ After deducting $ 89 million participations ofo ther Federal Reserve Banks, * Less than $500,000. 2/ After deducting $103 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis