H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE FtcUrs Afftctiig link Rtstrvts ind Condition Stittwtit if F.I. links For immediate release September 17, 1964 The average of daily figures of total member bank reserves held during the week ended September l6 decreased a net of $8l million to $20,606 million. Estimated currency and coin of member banks increased $313 million and their reserve balances at the Federal Reserve Banks decreased $39^- million. Estimated required reserves increased $122 million; and estimated excess reserves decreased $203 million to $303 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $78 million, compared with the revised figure of $28 million the week before. The principal changes reducing average reserve balances vith Federal Reserve Banks were decreases of $253 million in member bank borrowings and $242 million in U. S. Government securities held under repurchase agreements, and increases of $182 million in currency in circulation and $49 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $283 million in Federal Reserve float and a decrease of $57 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $192 million. As of Wednesday, September l6, holdings of U. S. Government securities bought outright were $160 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $360 million lower, and member bank borrowings were $68 million lower. Outright holdings of bills decreased $202 million; notes and bonds increased $13 million and $29 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 16, Sept. 9, "Hsept. 18," Sept. 16, and related items 1964 1964 1963 196k (in millions of dbTlarsJ Reserve Bank credit: U. S. Government securities- Bought outright--System account 35,262 + 28 +3,053 35A13 Held under repurchase agreements 135 -242 + 135 Acceptances— Bought outright 38 - 1 + 2 36 Held under repurchase agreements 18 - 8 + 18 18 Discounts and advances- Member bank borrowings 225 -253 32 74 32 Other 1,846 +283 149 2,078 Float Total Reserve Bank credit 37T52& -192 +3,059 37,319 Gold stock 15,462 - 120 15,463 Treasury currency outstanding 5,564 -__26 „5,572 5B7550 -195 +2,9l4 58735^ Currency in circulation 38,425 +2,409 38,380 Treasury cash holdings 435 + 18 Treasury deposits with F. R. Banks 906 - 36 1,082 Foreign deposits with F. R. Banks 142 154 Other deposits with F. R. Banks 194 - 15 180 Other P. R. accounts (net) 1,163 + 24 1,094 "5I735I T27398 Member bank reserves: With Federal Reserve Banks 17,285 + 515 17,013 Currency and coin (estimated) 3,321 + 191 3,632 Total reserves held 20,6c6 + 706 20,655 Required reserves (estimated) 20,303 + 751 20,664 Excess reserves (estimated) -19 303 - 45 On September l6, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,489 million, an increase of $344 million for the week and an increase of $562 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) CONSOLIDATED STATEMENT OF CONTITICK OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Sept. 16, Sept. 9, " Sept. l8. 1964, V)6k 1963 A S S E TS Gold certific"ate~a£count 13)69^ 15 - 25C Redemption fund for F. Hi notes 1,^87 + 13 + lk8 Total gold certificate reserves 15,l8l -2 - 102 Cash (5W) 151 + 3 - 175 Discounts and advances 7^ - 68 * 279 Acceptances: Bought outright 36 2 __ Held under repurchase agreements 18 k 18 U. 3. Government securities: Bought outright-- Bills ^910 202 + 2,076 Certificates .- -- -10,712 Notes 25,077 + 13 +11,C87 Bonds 5,126 + 29 + 688 Total bought outright 35,113 - 160 + 3,139 Held under repurchase agreements «... 360 -- Total U. S> Government securities 35.113 - 520 + 3,139 Total loans and securities 35,2»fl - 59* + 2,878 Cash items in process of collection (1,628) 7,970 +2,723 -f 32k Bank premises 102 — - 1 Other assets 509 + 37 + 169 TOTAL ASSETS (2,176) 59,15^ +2 ,167 + 3,293 L I A B I L I T I ES Federal Reserve notes (5*8) 33,128 89 + 2,281 Deposits: Member bank reserves 17,013 - 130 + *33 U. S. Treasurer—general account 1,082 + 243 - 2*7 Foreign 15* + 33 + 2 Other (**) 180 - 26 - 11 Total deposits (**) 18,lj-29 + 120 + 177 Deferred availability cash items (1,628) 5,892 +2,22*6 + 71* Other liabilities and accrued dividends 103 - 36 + 25 TOTAL LIABILITIES (2,176) 57,552 W?2kL + 3,197 C A P I T AL A C C O U N TS Capital paid in ~ ~ 517 « + 31 Surplus 99O — + 56 Other capital accounts 95 jk + 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,176) 59715% +2,167 + 3,293 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) 29.1$ *Vfo - 1*7$ Contingent liability on acceptances purchased for foreign correspondents 131 +1 + 29 * 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 l6, l$Bk (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 securitier Discounts and advances Acceptances Holdings Within 15 days 69 2k 657 16 days to 90 days 5 30 9,189 91 days to 1 year -« -- 9,951 Over 1 year to 5 year;s -- 12,91^ Over 5 years to 10 years -- 2,098 Over 10 years -- ... wk Total _ 7* 5T 35,113 ** 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 EAKK OK SEPTEMBER l6, 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 13,694 625 3,712 665 1,088 986 665 2,428 538 260 641 512 1,573 Redemption fund for F. R. notes 1,487 1 83 341 80 142 121 89 268 59 27 58 48 0.71 Total gold certificate reserves 15,181 | 709 4,053 745" "l,230 "' ""1,167 754 2,696 597 287 699 560 1,744 F. R. notes of other Banks 548 45 179 39 19 45 46 32 16 40 15 23 49 Other cash 151 1 > 41 4 12 16 14 19 5 5 6 3 17 Discounts and advances ! k 1 8 T 1 T_ 3 39 2 1 5 8 4 7 Acceptances: Bought outright 1 36 1 36 -- — — — -- -- -- -- Held under repurchase agreements ! 18 18 -- — U- S. Government securities: Bought outright— Bills 4,910 262 1,173 265 416 339 276 829 191 97 196 191 675 Certificates Notes 25,077 1,336 5,990 1,355 2,125 1,730 1,409 4,235 978 498 1,001 973 3,447 Bonds 273 1,224 277 434 354 288 866 200 102 205 199 704 ! 5,126 Total 35,113 1 1,871 8,387 1,897 2,975 2,423 1,973 5,930 1,369 697 1,402 1,363 4,826 Held under repurchase agreements Total U. S. Government securities 35,113 1,871 8,387 1,897 2,975 2,423 1,973 5,930 1,369 697 1,402 1,363 4,826 Total loans and securities ^35,24l 1,872 8,449 1,898 2,976 2,424 1,976 5,969 1,371 698 1,407 1,371 4,830 Cash items in process of collection I 9,598 612 1,764 503 709 731 727 1,933 415 283 552 444 925 Bank premises 102 8 3 6 5 18 22 6 4 6 11 10 Other assets 509 26 125 27 45 31 29 79 19 11 24 24 69 TOTAL ASSETS 61,330 3,276 14,619 3,219 4,997 4,359 3,564 10,750 2,429 1,328 2,709 2,436 7,644 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 SEPTEMBER 16, 1964 San Total Boston New Phila Cleve Rich- Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mend Louis apolis City cisco (in millions; of dollars) L I A B I L I T I ES Federal Reserve notes 33,676 1,968 7,956 1,9^7 2,857 2,800 1,936 6,111 1,350 582 1,308 1,038 3,823 Deposits: Member bank reserves 17,013 611 ^,717 693 1,267 768 877 2,600 648 422 876 884 2,650 U.S. Treasurer-general account 1,082 67 199 44 83 105 75 143 55 91 59 116 Foreign 154 6 1/51 6 13 7 8 20 5 3 6 8 19 Other 180 1 107 1 1 10 1 2 -* 3 2 52 Total deposits 18,429 685 5,074 7^6 I736T- 890 961 2,765 708 470 976 "~~~953~ 2JB3T Deferred availability cash items 7,520 543 1,1^3 432 624 582 568 1,628 312 237 350 348 753 Other liabilities and accrued dividends 103 5 24 9 6 6 17 4 2 5 4 16 TOTAL LIABILITIES 59,728 3,201 1^,197 3,130 4,278 3,471 10,521 2,37^ 1,291 2,639 2,3^3 7,429 CAPITAL ACCOUNTS Capital paid in 517 24 136 29 46 26 30 18 12 23 30 69 Surplus 990 47 264 55 90 h9 56 l4o 34 23 43 57 132 Other capital accounts 95 4 22 5 7 6 7 15 3 2 4 6 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,330 3,276 Ik,6X9 3,219 ^-,997 ^,359 3,564 10,750 2,429 1,328 2,709 2,436 7,644 Contingent liability on accept ances purchased for foreign c orre spondent s 131 6 2/35 7 12 7 7 18 5 3 6 7 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 35,323 2,053 "X99B™~ 3704T~ 2,885 ""27036"~ ^73^5~ 1,420 612 1,3^9 1,109 M 19 Collateral for F. R. notes: Gold certificate account 6,607 423 1,670 425 500 580 340 1,100 270 112 272 180 735 Eligible paper 8 l 2 5 U. S. Government securities '• 29,715 1,650 6,950 1,700 2,700 2,3^5 1,750 5,400 1,210 510 1,100 1,000 3,400 Total collateral 36,330 2,073 8,620 2,126 3,200 2,925 2,090 6,500 1,482 622 1,377 1,180 ^,135 — w . «.- ^ ~- *—. *.jserve Banks. * Less than $500,000. 2/ After deducting $ 96 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis