H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftctiif lank Rtstrvts and ConditioR Stittwtit of F.I. Inks For immediate release H.if--1*""" September 10, 1964 The average of daily figures of total member bank reserves held during the week ended September 9 increased a net of $211 million to $20,732 million. Estimated currency and coin of member banks decreased $309 million and their reserve balances at the Federal Reserve Banks increased $520 million. Estimated required reserves increased $63 million; and estimated excess reserves increased $148 million to $536 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $58 million, compared with the revised figure of $73 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $359 million in U. S. Government securities held under repurchase agreements, $163 million in member bank borrowings, $112 million in Federal Reserve float, and $90 million in U. S. Government securities bought outright. The principal offsetting change was an increase of $238 million in currency in circulation. Total Reserve Bank credit increased $7^-8 million. As of Wednesday, September 9> holdings of U. S. Government securities bought outright were $79 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $237 million higher, and member bank borrowings were $^3 million higher. Outright holdings of notes and bonds increased $27 million, and $52 million, respectively. Averages of daily figures Member bank reserves, Week ended Change fjrom week^ endedW ednesday, Reserve Bank credit, Sept. 9> Sept. 2, Sept. Sept. 9, and related items 196h 1964 1963 1964 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 35,234 + 90 +2,884 35,273 Held under repurchase agreements 377 +359 + 83 360 Acceptances— Bought outright 39 + 2 + 2 38 Held under repurchase agreements 26 + 23 + 26 22 Discounts and advances- Member bank borrowings 478 +163 + 124 142 Other - 31 Float 1,563 +112 + 76 1,600 Total Reserve Bank credit 377716 +758 +3,163 37,435 Gold stock 15,462 -- 15,463 - 121 Treasury currency outstanding 5,566 - 7 5,559 - 25 58,745 +743 +3,018 58,457 Currency in circulation 38,243 +238 +2,177 38,475 Treasury cash holdings 426 + 1 + 17 433 Treasury deposits with F. R. Banks 857 - 1 + 33 839 Foreign deposits with F. R. Banks 131 - 33 22 121 Other deposits with F. R. Banks 188 - 3 - 18 205 Other F. R. accounts (net) 1,220 + 21 1,241 + 1 4l,c65 +222 +2,188 4l,3l4 Member bank reserves: With Federal Reserve Banks 17,679 +520 + 829 17,143 Currency and coin (estimated) 3,053 -309 + 89 3,450 ?otal reserves held 20,732 +211 + 918 20,593 Required reserves (estimated) 20,196 + 63 + 883 20,238 Excess reserves (estimated) 536 +148 + 35 355 On September 9, 1964, JJ. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,l45 million, a decrease of $24 million for the week and an increase of $255 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.h.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Sept. 9, Sept. 2, Sept. 11, 1964 1964 :1 963 A S S E TS Gold certificate account 13,709 - 16 - 241 Redemption fund for F. R. notes 1,47^ + 11 + 137 Total gold certificate reserves •* 15,183 - 5 - 104 Cash (^5) ike - 8 - 171 Discounts and advances ite + 43 • 193 Acceptances: Bought outright 38 -- 4- 2 Held under repurchase agreements 22 - 2 + 22 U. S. Government securities: Bought outright — Bills 5,112 -- + 1,968 Certificates -- __ -10,732 Notes 25,064 + 27 +11,054 Bonds 5,097 + 52 + 659 Total bought outright 35,273 + 79 + 2,949 Held under repurchase agreements 360 +237 + 160 Total U. S. Government securities 35,633 +316 + 3,109 Total loans and securities 35,835 +357 + 2,94q Cash items in process of collection (1,192) 5,247 -132 - 208 Bank premises 102 -- - 1 Other assets 472 - 9 + l4o TOTAL ASSETS (1,687) 56,987 +203 + 2,596 L I A B I L I T I ES Federal Reserve notes (^95) 33,217 +370 + 2,254 Deposits: Member bank reserves 17,143 rl64 + 724 U. S. Treasurer--general account 839 +108 - 168 Foreign 121 - 56 - 20 Other (26) 2C6 + 23 - 6 Total deposits (26) 18,309 +239 + 530 Deferred availability cash items (1,166) 3,646 -467 _ 361 Other liabilities and accrued dividends 139 + 36 + 60 TOTAL LIABILITIES (1,687) 55,311 +178 + 2,483 C A P I T AL A C C O U N TS Capital paid in 517 -- + 31 Surplus 990 -- + 56 Other capital accounts 169 + 25 + 26 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1^687) $6,987 +203 + 2,596 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages--not consolidated) 29.2$ -.3$ 1-9$ Contingent liability on acceptances purchased for foreign correspondents 130 - 2 + 30 * 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, SEPTEMBER 9, 196*1 (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 advanceI S Acceptances Holdings during week Within 15 days 137 30 874 +lW 16 days to 90 days 5 30 9,kL5 +117 91 days to 1 year #* 10,070 - 28 Over 1 year to 5 years -- -- 12,895 + 3k Over 5 years to 10 years -• -«. 2,082 + 33 Over 10 years -- 297 + 12 Total 152 5o 35,633 +3l6 ** Less than $500,000." Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMEKT OF CONDITION OF'EACH'FEDERAL RESERVE BANK ON--SEPTEMBER 9, 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 dollars) A S S E TS Gold certificate account 13,709 819 2,994 694 1,171 933 831 2,310 598 278 625 647 1,809 Redemption fund for P. R. notes l,Vft 83 341 80 127 122 89 269 60 27 58 48 170 Total gold certificate reserves 15,183 902 3,335 774 1,298 1,055 920 2,579 658 305 683 695 1,979 F. R. notes of other Banks ^95 43 159 32 20 40 47 28 14 41 16 20 35 Other cash 11*8 8 41 3 14 15 15 16 5 5 6 3 17 Discounts and advances 142 1 16 * 5 1 20 68 1 1 6 10 13 Acceptances: Bought outright 38 — 38 — — — — — -- — -- — -- Held under repurchase agreements 22 — 22 — — — -- — — — — -- — U. S* Government securities: Sosaght outright— """Bills 5A12 267 1,262 272 421 351 282 867 196 100 205 181 708 Certificates «.- -- -- — — -- -- -- __ -- -- -- __ Notes 25,c64 1,3C8 6,187 1,335 2,066 1,722 1,383 4,248 963 491 1,007 885 3,469 Bonds 5,097 265 1,258 272 420 351 281 864 196 100 2C5 180 705 Total 35,273 l,84o 8,707 1,879 2,907 2,424 1,946 5,979 1,355 691 1,417 1,246 4,882 Held under repurchase agreements 360 -- 360 -- -- — — — — — — — — Total U. S. Government securities ^5.6^3 l.84o Q.C67 I.879 2,907 2.424 1.946 5.979 1.355 691 1.417._ 1.246 4.882 Total loans and securities 35,835 1,841 9,143 1,879 2,912 2,425 1,966 6,c47 1,356 692 1,423 1,256 4,895 Cash items in process of collection 6,439 431 1,289 388 44o 504 553 1,015 291 198 392 300 638 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 472 24 119 25 40 28 27 75 18 9 22 21 64 TOTAL ASSETS 58,674 3,252 14,094 3,ic4 4,730 4,072 3,546 9,782 2,348 1,254 2,548 2,3C6 7,638 *Less than $500,CC0. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION ©F EACH FEDERAL RESERVE BANK ON SEPTEMBER 9, 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco • (In millions3 of dollars) L I A B I L I T I ES Federal Reserve notes 33,712 1,969 7,981 1,945 2,848 2,797 1,939 6,113 1,350 582 1,309 1,034 3,845 Deposits: Member "bank reserves 17,1^3 753 4,545 687 1,239 751 986 2,551 660 429 8l4 888 2,84o U.S. Treasurer-general ac: count 839 50 154 62 94 43 82 80 29 48 92 45 60 Foreign 121 6 1/33 7 11 6 7 17 4 2 5 7 16 Other 232 4 134 4 4 14 2 6 1 1 4 3 55 Total deposits 18,335 8I3 4,866 760 1,348 8l4 1,077 2,654 694 480 915 943 2,971 Deferred availability cash items 4,812 385 772 3d 375 369 428 755 242 151 246 23c 558 Other liabilities and accnl ed dividends 139 6 34 5 9 6 6 18 4 3 5 4 39 TOTAL LIABILITIES 56,998 3,173 13,653 3,011 4,580 3,986 3,450 9,540 2,290 1,216 2,475 2,211 7,413 CAPITAL ACCOUNTS Capital paid in 517 ! 24 136 29 46 26 30 74 18 12 23 30 69 Surplus 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 169 8 4l 9 l4 11 10 28 6 3 7 8 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 1 58,674 3,252 J.4,C94_ 3,104 4,730 _4_ _q72__ 3,546 9,782 2,348 1,254 2,548 2,306 7,638 i Contingent liability on ace: eptances purchased for fore:L gn c orre sp ondent s 130 6 2/35 7 12 7 7 18 4 3 6 7 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,460 2,003 3,028 2,882 2,022 6,344 "I74lE" ToT X346" 1,111 4,001 Collateral for F. R. notes: Gold certificate account 1,670 425 5CO 58c 340 1,100 270 112 272 180 735 Eligible paper l 6 U. S. Government securities 6,950 1,700 2,550 2,330 1,700 5,4co 1,210 510 1,100 1,000 3,4co Total collateral 2,073 8,620 2,125 3,050 2,910 2,040 6,500 1,481 622 1,378 1,180 4,135 1/ After deducting $ 88 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 95 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis