H.4.1 Factors Affecting Reserve Balances of Depository Institutions

OfGOVi$ ti: F E D E R AL R E S E R VE Factors Afftctiif lank Rtstrvts md Condition Steftmtit of F.I. tanks For immediate release August 20, 1964 The average of daily figures of total member bank reserves held during the week ended August 19 decreased a net of $33 million to $20,565 million. Estimated currency and coin of member banks increased $120 million and their reserve balances at the Federal Reserve Banks decreased $153 million. Estimated required reserves increased $82 million; and estimated excess reserves decreased $115 million to $361 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $83 million, compared with the revised figure of $100 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $242 million in U. S. Government securities bought outright and $300 million held under repurchase agreements, $9$ million in member bank borrowings, and $25 million in acceptances held under repurchase agreements. The principal offsetting changes were an increase of $470 million in Federal Reserve float and a decrease of $32 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $196 million. As of Wednesday, August 19, holdings of U- S. Government securities bought outright were $182 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $88 million lower, and member bank borrowings were $17 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 19, Aug. 12, Aug. 21, Aug. 19, and related items 1964 1964 _.i9.6a . 1964,, v (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 34,855 -242 +2,891 3^,739 Held under repurchase agreements -- -300 - 53 -- Acceptances-- Bought outright 4o - 1 1 38 Held under repurchase agreements — - 25 -- -- Discounts and advances- Member bank borrowings 278 - 98 16 180 Other 1 + 1 - 29 --. Float 2,024 +470 + 237 1,728 Total Reserve Bank credit 37A97 -196 +3,030 36,685 Gold stock 15,461 - 1 - 122 15,463 Treasury currency outstanding 5,558 + 4 - 25 5,561 58,216 -193 +2,883 57,709 Currency in circulation 38,113 - 1 +2,263 38,108 Treasury cash holdings 412 - 5 + 18 420 Treasury deposits with F. R. Banks 932 - 32 + 53 1,025 Foreign deposits with F. R. Banks 144 + 3 9 140 Other deposits with F, R. Banks 199 + 6 + 14 195 Other F. R. accounts (net) 1,102 - 11 - 115 1,208 4o,902 - 40 +2,224 41,096 Member bank reserves: With Federal Reserve Banks 17,31^ -153 + 659 16,612 Currency and coin (estimated) 3,251 +120 + 252 3,553 Total reserves held 20,565 - 33 + 911 20,165 Required reserves (estimated) 20,204 + 82 + 952 20,288 Excess reserves (estimated) 361 -115 - 41 - 123 On August 19, I96U, U. s. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,265 million, a decrease of $1 million for the week and an increase of $^-04 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 Aug. 19, Aug. 12, Aug. 21, 1964 1964 1963 A S S E TS Gold certificate account 13,722 - 7 252 Redemption fund for P. R. notes 1,454 + 3 + 132 Total gold certificate reserves 15A76 - 4 120 •St Cash (509) 156 _- - 192 Discounts and advances 180 + 17 • 440 Acceptances: Bought outright 38 - 2 l Held under repurchase agreements -- - 20 «.- U. S. Government securities: Bought outright — Bills 4,986 -182 + 2,095 Certificates -- -- -10,732 Notes 24,917 -- +10,932 Bonds 4,836 -- + 451 Total bought outright 34,739 -182 + 2,746 Held under repurchase agreements -- - 88 - 104 Total U. S. Government securities 34,739 -270 +_A§42 Total loans and securities 34,957 -275 + 2,203 Cash items in process of collection (1,409) 6,163 +l6l + 652 Bank premises 102 -- -- Other assets 395 -163 + 127 TOTAL ASSETS (1,918) 56,949 z28l ±_2,jf[0 L I A B I L I T I ES Federal Reserve notes (509) 32,837 - 79 + 2,132 Deposits: Member bank reserves 16,612 -141 19 U. S. Treasurer--general account 1,025 + 8 + 77 Foreign l4o + 2 12 Other 195 - 8 + 17 Total deposits 17,972 -139 + 63 Deferred availability cash items (1,409) 4,435 - 78 + 358 Other liabilities and accrued dividends 96 - 8 + 17 TOTAL LIABILITIES (1,918) 55,340 -30^ + 2,570 C A P I T AL A C C O U N TS Capital paid in 516 -- + 31 Surplus 990 -- + 56 Other capital accounts 103 + 23 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,918) 56,949 -281 + 2,670 Ratio of gold certificate reserves to deposit and P. R. note liabilities combined (com puted from figures as shown on the fol lowing pages—not consolidated) 29.6$ +tl$ - 1.6$ Contingent liability on acceptances purchased for foreign correspondents 135 - 1 + 48 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures en combined basis on the following pages, MATURITY DISTRIBUTION CF LOANS AND SECURITIES, AUGUST 19, 1964 (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 173 Ik 1,047 -1,713 16 days to 90 days 7 2k 8,661 +6,037 91 days to 1 year ** „ 10,165 -2,564 Over 1 year to 5 years -- 12,706 -2,030 Orer 5 years to 10 years „ 1,906 Over 10 years „ -. 254 Total 180 35 34,739 270 ** Less than $500,000. 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 AUGUST 19, 1964 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (in million of dollars) A S S E TS Gold certificate account 13,722 ' 663 3,670 727 1,048 974 687 2,372 535 258 566 563 1,659 Redemption fund for F. R. notes 1,454 G2 344 79 128 116 85 265 60 27 55 47 166 Total gold certificate reserves 15,176 745 4,014 806 1,176 1,090 772 2,637 595 285 621 610 1,825 F. R. notes of other Eanks 509 41 169 36 17 45 45 30 11 36 17 21 41 Other cash 156 9 49 3 15 15 15 16 5 5 5 4 15 Discounts and advances 180 k 4 2 n 3 44 47 * k 11 10 50 Acceptances: Bought outright 38 38 -- _- -- -- __ U. S. Government securities: Bought outright-- Bills 4,986 262 1,200 272 417 34l 271 853 195 101 202 185 687 Certificates -- — -_ -- -- — • - -- -- .-_ -- „_ -- Notes 24,917 1,308 5,999 1,358 2,c86 1,703 1,356 4,264 976 503 1,007 923 3,434 Bonds 1 4,836 254 1,164 263 405 330 263 828 190 9§__ 195 179 667 Total ,34,739 1,824 6,363 1,893 2,906 2,374 1,890 5,945 "' 1,361 702 l,4o4 1,287 4,786 Held under repurchase agreements -- -- __ -- __ -- -- _- Total U. S. Government securities j34,739 1,824 8,363 1,893 2,908 2,374 1,890 5,945 1,361 702 l,4o4 1,287 4,788 Total loans and securities '34,957 I 1,828 8,405 1,895 2,909 2,377 1,934 5,992 1,361 706 1,415 1,297 4,838 Cash items in process of collection 1 7,572 542 1,481 427 554 568 617 1,176 342 233 473 375 784 Bank premises 102 1 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 395 1 19 100 22 33 24 22 61 15 8 19__ 19 53 TOTAL ASSETS 58,867 3,187 14,226 3,192 4,710 4,124 3,423 9,934 2,335 1,277 2,556 2,337 7,566 * Less than $500,000. 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 AUGUST 19", 1964 San Nev 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 33,346 1,951 7,930 1,929 2,832 2,745 1,912 6,050 1,339 584 1,298 1,023 3,753 Deposits: Member hank reserves 16,612 634 4,619 731 1,160 747 855 2,513 601 405 792 856 2,699 U.S. Treasurer-general a<: count 1,025 44 155 66 70 71 57 144 66 54 91 58 149 Foreign 140 6 1/37 8 13 7 8 20 5 3 6 8 19 Other 195 1 122 1 13 13 1 * 4 2 56 Total deposits 17,972 685 4,933 806 1,244 828 921 2,680 673 462 893 924 2,923 Deferred availability cash items 5,844 470 914 363 483 463 492 957 264 192 290 293 663 Other liabilities and accnl ed. dividends 96 5 24 5 7 7 5 17 4 2 4 4 12 TOTAL LIABILITIES 57,258 3,111 13,801 3,103 4,566 4,043 3,330 9,704 2,280 1,240 2,485 2,244 7,351 CAPITAL ACCOUNTS Capital paid in ! 516 j 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 103 | 5 25 5 8 6 7 17 3 2 5 6 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 58,867 3,187 JL4J_?26__ 3,192 4,710 4,124 3, ^23 9,934 2,335 1,277 2,556 2,337 7,566 Contingent liability on ac:<e ptances purchased for fore:L gn correspondent s 1 135 i 6 2/36 8 12 7 8 19 4 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,436 1,989 3,011 2,831 2,021 6,282 1,409 610 1,338 1,097 3,959 Collateral for F. R. notes: Gold certificate account 1,670 425 500 580 34o 1,100 270 112 277 180 735 Eligible paper 2 # 10 U. S. Government securities 6,850 1,700 2,550 2,295 1,700 5,400 1,210 510 1,100 1,000 3,4oo Total collateral 2,073 8,520 2,127 3,050 2,875 2,o4o 6,500 1,480 622 1,387 1,180 4,135 l/ After deducting $103 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 99 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis