H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Ftcttrs Afftctiif link Itstrvts «nd CiiHtUi StiUmtit tf F.I. links For immediate release July 30, 1964 The average of daily figures of total member bank reserves held during the week ended July 29 decreased a net of $113 million to $20,317 million. Esti mated currency and coin of member banks increased $66 million and their reserve balances at the Federal Reserve Banks decreased $179 million. Estimated required reserves decreased $136 million; and estimated excess reserves increased $23 mil lion to $300 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $121 million, compared with the revised figure of $118 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $569 million in Federal Reserve float and $35 mil lion in U. S. Government securities bought outright. The principal offsetting changes were an increase of $l6l million in U. S. Government securities held under repurchase agreements, and decreases of $155 million in currency in circulation and $59 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $4o8 million. As of Wednesday, July 29, holdings of U. S. Government securities bought outright were $600 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $52 million higher, and member bank bor rowings were $184 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended [Wednesday, Reserve Bank credit, July 29, July 22, July 31, July 29, and related items 1964 1964 ;L 96l_ 1964 ^ In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 3M57 - 35 +2 ,313 ; 34,760 Held under repurchase agreements 161 +l6l + 119 I 52 Acceptances-- Bought outright 4o - 2 + 1 1 41 Held under repurchase agreements 18 + 18 + 18 20 Discounts and advances- Member bank borrowings 179 + 20 36 288 Other Float 1,626 -569 + 282 1,295 Total Reserve Bank credit 3^351 ^ 08 +2 ,770 36,456 Gold stock 15,463 -- - 170 15,463 Treasury currency outstanding 5,567 + 1 - 19 5,563 57,411 -407 +2 ,581 57,482 Currency in circulation 37,8l4 -155 +2 ,250 37,857 Treasury cash holdings 440 - 4 + 47 446 Treasury deposits with F. R. Banks 711 - 59 - 180 674 Foreign deposits with F. R. Banks 133 + 2 - 46 l4o Other deposits with F. -R. Banks 190 - 1 - 12 196 Other F. R. accounts (net) 1,148 - 10 + 79 1,146 40,436 -228 +2 ,137 40,459 Member bank reserves: With Federal Reserve Banks 16,975 -179 + 445 17,023 Currency and coin (estimated) 3,342 + 66 + 224 | 3,694 Total reserves held 20,317 -113 + ~Wj \ 20,717 Required reserves (estimated) 20,017 -136 + 666 20,033 Excess reserves (estimated) 300 + 23 + 3 684 On July 29, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,129 million, an increase of $55 million for the week and an increase of $396 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 8TATJ3MJ3MT OF CONDITION OF TH3 TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since July 29, July 22, July 31, 1964 1964 1963 A S S E TS Gold certificate account 13,731 + 10 - 301 Redemption fund for F. R. notes 1,457 + 5 + 143 Total gold certificate reserves 15,186 + 15 - 158 Cash (5*6) 146 + 8 - 213 Discounts and advances 288 +184 50 Acceptances: Eought outright in -- + 2 Held under repurchase agreements 20 + 20 20 U. S. Government securities: Bought outright-- Bills 5,137 +600 + 1,631 Certificates -- -- -14,464 Notes 24,912 -- +15,106 Bonds 4,711 -- + 163 Total bought outright 34,760 +600 + 2,436 Held under repurchase agreements 52 + 52 92 Total U, S. Government securities 3jjT8i2 +652 +2,344 Total.loans __and_ secxirities^ 35,161 +856 + 2,316 Cash items in process of collection (1,249) 5,211 -691 + 304 Bank premises 103 -- + 1 Other assets 479 + 23 + 50 TOTAL ASSETS (1,755) 56,288 +211 +_2,JC0 L I A B I L I T I ES Federal Reserve notes (506) 32,611 - 55 + 2,074 Deposits: Member bank reserves 17,023 +608 + 52 U. S. Treasurer--general account 674 - 60 + 45 Foreign 140 + 10 42 Other 196 - 3 66 Total deposits 18,033 +555 11 Deferred availability cash items (1,2^9) 3,916 -318 + 110 Other liabilities and accrued dividends 95 + 6 + 19 TOTAL LIABILITIES 54,655 +188 + 2,192 (1,755) C A P I T AL A C C O U N TS Capital paid in 516 -- + 33 Surplus 990 -- + 56 Other capital accounts 127 + 23 + 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,755) 56,288 +211 + 2,300 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (h<e rn puted from figures as shown on the fol lowing pages--not consolidated) 29.7$ -•3$ - 1.6% Contingent liability on acceptances purchased for foreign correspondents 137 - 3 + 52 * Figures in parentheses are the elimiiia tions made in the consolidating process; see comparable figures on combined basis on thej following pages. MATURITY DISTRIBUTION OF LOANS AND SECURI1? IES, JULY 29, 1964 (Acceptances and securities held uncL* r repurchase; agreements are class ified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Discounts and Changes advances Acceptances Holdings <l uring week Within 15 days 282 32 807 -150 16 days to 90 days 6 29 4,504 +417 91 days to 1 year ** -- 12,735 +385 Over 1 year to 5 years -- 14,691 -- Over 5 years to 10 years -- 1, 836 -- Over 10 years -- 239 -- Total 235 6i 34,812 +652 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDEML RESERVE BANK ON JULY 29, 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (IE millions of dollars^) A S S E TS Gold certificate account 13,731 688 3,519 737 958 937 665 2,46l 515 245 602 475 1,929 Redemption fund for F. R. notes 1,457 83 342 80 127 119 85 266 60 26 55 47 I67 Total gold certificate reserves 15,188 771 3,861 817 1,085 1,056 750 2,727 575 271 657 522 2,096 F. R• notes of other Banks 506 34 152 35 25 40 51 30 16 35 17 24 47 Other cash 146 11 44 4 8 11 17 14 5 4 5 5 18 Discounts and advances 288 11 117 2 12 7 15 62 5 6 17 9 25 Acceptances: Bought outright 41 4i Held under repurchase agreements 20 20 U- S. Government securities: "Bought outright— Bills 5,137 269 1,270 275 427 347 284 864 201 101 207 201 691 Certificates Notes 24,912 1,307 6,156 1,333 2,072 1,684 1,376 4,190 975 489 1,001 978 3,351 Bonds 4,711 247 1,164 252 392 319 260 792 185 92 189 185 634 Total 34,760 1,823 8,590 1,860 2,891 2,350 1,920 5,846 1,361 682 1,397 1,364 4,676 Held under repurchase agreements 52 52 Total U. S. Government securities 34,812 1,823 8,642 1,860 2,891 2,350 1,920 5,846 l,36l 682 1,397 1,364 4,676 Total loans and securities 35,l6l 1,834 8,820 1,862 2,903 2,357 1,935 5,908 1,366 688 l,4l4 1,373 4,701 Cash items in process of collection 1 6,46o 477 1,267 378 489 457 522 1,044 313 202 383 314 6l4 Bank premises 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets 479 25 121 25 4l 30 27 75 18 10 22 21 64 TOTAL ASSETS 58,043 3,155 14,273 3,124 4,557 3,956 3,320 9,820 2,299 1,214 2,504 2,271 7,550 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAMC OH JULY 29, 1964 San New Phila Cleve - Rich 3t. 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 1 Federal Reserve notes 33,117 1,949 7,916 1,925 2,806 2,731 1,898 5,986 1,331 585 1,286 1,010 3,694 Deposits: Member bank reserves 17,023 662 4,756 731 1,128 714 862 2,609 605 386 783 867 2,920 U.S. Treasurer-general account 674 25 128 43 28 35 31 84 43 35 94 32 96 Foreign l4o 6 1/45 7 12 7 7 18 4 3 6 8 17 Other 196 1 127 1 3 12 1 * 2 2 56 Total deposits 18,033 694 5,056 78l 1,169 759 901 2,713 653 424 885 909 3,089 Deferred availability cash items 5,165 430 845 322 428 378 423 871 255 166 258 254 535 Other liabilities and accrued dividends 95 ! 5 24 5 8 6 5 15 4 2 3 4 14 TOTAL LIABILITIES !56,4l6 1 3,078 13,841 3,033 4,4ii 3,874 3,227 9,585 2,243 1,177 2,432 2,177 7,332 CAPITAL ACCOUNTS Capital paid in 1 516 24 136 29 46 26 30 73 18 12 23 30 69 Surplus 1 990 47 264 55 90 49 56 140 34 23 43 57 132 Other capital accounts 1 . 127 -1 6 32 7 10 7__ J_ 22 4_ 2__ 6_ I_ 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 58,043 1 3,155 14,273 3,124 4,557 3,956 3,320 9,820 2,299 1,214 2,504 2,271 7,550 Contingent liability on accept ances purchased for foreign correspondents 137 7 2/36 8 12 7 8 19 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,392 1,990 2,989 2,830 2,000 6,229 1,412 6l4 1,329 l,c84 3,907 Collateral for F. R. notes: Gold certificate account 1,670 425 500 620 340 1,100 260 112 277 180 735 Eligible paper 2 5 17 U. S. Government securities 6,850 1,700 .2, ,55P,. .2,24^ 1,700 5,4oo 1,210 510 1,100 1,000 3>4CO Total collateral 2,073 8,520 2,127 3,050 2,865 2,040 6,500 1,475 622 1,394 1,180 4,135 1/ After deducting § 95 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $101 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis