H.4.1 Factors Affecting Reserve Balances of Depository Institutions

--4S&S&U F E D E R AL R E S E R VE Factors Afftctinf link Rtstrvts tid "f*ro*^** C«nJiti«R StattMtNt *f F.I. Illks For immediate release H.4.1 October 1, 1964 The average of daily figures of total member bank reserves held during the ireek ended September 30 decreased a net of $198 million to $21,054 million. Estimated currency and coin of member banks increased $10 million and their reserve balances at the Federal Reserve Banks decreased $208 million. Estimated required reserves decreased $24 million; and estimated excess reserves decreased $174 million to $305 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $27 million, compared with the revised figure of $70 million the week before. The principal changes reducing average reserve balances with Federal Reserve Eanks were decreases of $522 million in Federal Reserve float and $131 mil lion in member bank borrowings, and an increase of $30 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $282 million in holdings of U. S. Government securities and $36 million in accept ances held under repurchase agreements, and decreases of $118 million in currency in circulation and $48 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $333 million. As of Wednesday, September 30, holdings of U. S. Government securities bought outright were $469 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $100 million higher, and member Dank borrowings were $637 million lower. Outright holdings of bills, notes, and bonds increased $389 million, $28 million, and $52 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 30, Sept. 23, Oct. 2, Sept. 30, and related items 1964 1964 1963 1964 Xin millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 35,157 +253 +2,708 35,250 Held under repurchase agreements 29 + 29 - 33 100 Acceptances— 1 38 Bought outright 35 Held under repurchase agreements 42 + 36 i- 41 61 Discounts and advances-- Member bank borrowings 278 -131 65 93 Other 2 + 1 - 28 2 Float _1,943 -522 + 398 1,56" Total Reserve Bank credit 377*8? -333 +3,026 37,1U Gold stock 15,461 - 1 - 121 15,463 Treasury currency outstanding 5,556 - 13 - 33 .5,553 58,503 -14~8 +2. ,865 58,127 Currency in circulation 38,074 -118 +2 ,2l6 38,15S Treasury cash holdings 44l - 7 + 48 442 treasury deposits with F. R. Banks 914 - 48 + 13 933 Foreign deposits with F. R. Banks 161 + 30 + 8 148 Other deposits with F. R. Banks 186 - 6 194 - 7 Other F. R. accounts (net) 1,066 - 48 1,130 + 12 40,841 -140 +2,230 41,005 Member bank reserves: With Federal Reserve Banks 17,662 -208 + 635 17,121 Currency and coin (estimated) 3,392 + 10 3*735 + 242 Total reserves held 21,054 ^198 2078"55 + 877 Required reserves (estimated) 20,749 - 24 20,824 + 924 Excess reserves (estimated) 305 -174 32 - 47 On September 30, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,373 million, a decrease of $134 million for the week and an increase of $430. 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 ok> CONDITION OF THE TWELVE FEDERAL RftOTtVE tPMS (in millions of ddll&rs) Change since Sept. 30, Sept. 23, Oct. 2, 1964 196U 1963 Am/~i "n rn r~\ A S S E TS Gold certificate account 13,701 - 2 272 Redemption fund for F. R. notes 1,489 - k + 151)- Total gold certificate reserves 15,190 ^~B - HB Cash (654) 161 - 2 - 156 Discounts and advances 95 -636 • 398 Acceptances: Bought outright 38 + 2 + 2 Held under repurchase agreements 61 + 47 56 U. S. Government securities: Bought outright — Bills 4,967 +389 + 1,592 Certificates • J. -- -10,712 Notes 25,105 + 28 +11,112 Bonds 5,178 + 52 + euo Total bought outright 35,250 +5?9 + 2,632 Held under repurchase agreements 100 +100 - 180 Total U. S. Government securities 35,350 +5?9 + 2,452 Total loans and securities 3 5 , 5^ - 1^ + 2,112 Cash items in process of collection (1,35*0 5,896 -?80 + 351* Bank premises 102 -- - 1 Other assets 520 - 6?_ + 126 TOTAL ASSETS (2,C08) 57,^13 -875 + 2,317 L I AB I L I T I E S Federal Reierve notes " ~ (65*0 32,936 +1 + 2,124 Deposits: Member hank reserves 17,121 -491 + 8 U. S. Treasurer--general account 933 -11^ 39 Foreign l48 + 20 w 20 Other (**) 19^ 2 5 -- - 51 Total deposits (**) 18,396 -590 Deferred availability cash items (1,35*0 ^,329 -317 + 113 + Other liabilities and accrued dividends 106 + 9 25 + 2,211 TOTAL LIABILITIES (2,CC8) 55,767 -897 C A P I T AL A C C O U N TS Capital paid in ~ 5l8 + 1 + 32 Surplus 990 + 56 Other capital accounts 138 + 21 + 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,008) 57,413 -875 + 2,317 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (ccmput ed from figures as shown on the fol lowing pages--not consolidated) 29»2# +.jf> - I.65& Contingent liability en acceptances purchased for foreign correspondents 127 - 3 + 23 Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTIONOFLOANS "MP SECURITTOST^HCEMBER 30, 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 AAcccceeppttaannccee ss HHoollddiinnggss during week Within 15 days 88 6666 665500 + 18 16 days to 90 days 3333 9,82l8 1 +266 91 days to 1 year **7 9j2 -- 10,023 +205 Over 1 year to 5 years ... „ « . X 12 2 , 9 9 5 5 6 6 + k2 Over 5 years to 10 years .. -„- 22,1 1226 6 + 28 Over 10 years ^ -- ' 3 3 1 1 ^ 4 + 10 l°la± ^ 95 99 357350 T3E9 ** Less than fc0O,0OQ. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) SmTEMEMT OF COWDITIOK OF EACH FSLSRAL RESERVE BAKK OH 3EFHMEEP 30, 1964 San Kev 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 13,701 755 3,168 707 1,233 1,021 744 2,255 576 276 585 534 1,847 Redemption fund for F« R. notes 1^89 83 3^ 82 142 119 89 267 60 26 58 49 170 Total gold certificate reserves 15A90 838 3,512 789 1,375 1,140 833 2,522 636 302 ~SST 583 2,017 F. R. notes of other Banks 65k 54 209 49 27 ^3 55 39 21 46 16 27 68 Other cash 161 7 45 5 12 14 15 22 6 5 6 3 21 Discounts and advances 95 18 4 3 i 6 11 19 4 3 6 8 12 Acceptances: Bought outright i 38 __ 38 -- __ -- — -- -- ... _- __ __ Held under repurchase agreements 61 61 -- -- -- -- -- U« S. Government securities: Bought outright— Bills ! M67 : 259 1,230 266 394 342 268 860 193 97 195 192 671 Certificates ! — -- — -- -- __ -- --. -- -- -- «.- Notes 25,105 ! 1,309 6,216 1,342 1,992 1,727 1,357 4,349 974 488 988 971 3,392 Bonds 5,173 270 1,282 277 411 356 280 897 201 100 204 200 700 Total 35,250 1,838 8,728 1,885 2,797 2,425 1,905 6,ic6 1,368 685 1,387 1,363 4,763 Held under repurchase agreements ICO -- 100 -- -- — -- — -- -- -- -- -- Total U. S. Government securities 35,350 1,838 8,828 1,885 2,797 2,425 1,905 6,106 1,368 685 1,387 1,363 4,763 Total loans and securities 35,544 1,856 8,931 1,888 2,798 2,431 1,916 6,125 1,372 688 1,393 1,371 4,775 Cash items in process of collection 7,250 497 1,474 407 548 551 546 1,190 355 225 440 361 656 Eank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 520 26 130 28 43 32 29 84 20 12 23 23 70 TOTAL ASSETS 59,421 3,281 14,309 3,169 4,809 4,216 3,412 10,004 2,416 1,282 2,527 2,379 7,617 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 30, 1964 San New Phila Cleve •- Rich- St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (In millions3 of dollars) L I A B I L I T I ES Federal Reserve notes 33,590 1,963 7,938 1,9^3 2,847 2,811 1,935 6,097 1,3^ 584 1,303 1,034 3,791 Deposits: Member hank reserves 17,121 736 4,57^ 744 1,234 778 877 2,563 667 4l9 796 898 2,835 U.S. Treasurer-general account 933 ^3 220 3^ 93 86 46 85 78 hi 50 40 111 Foreign l48 6 1A5 8 13 7 8 20 5 3 6 8 19 Other 194 # 128 * 1 7 1 1 l 1 4 2 48 Total deposits 18,396 785 4,967 786 1,341 87« 932 2,669 751 470 856 94b1 3,013 Deferred availability cash items 5,683 450 944 3^3 466 ^37 444 983 26c 188 292 299 577 Other liabilities and accrued dividends 106 6 27 6 8 7 5 18 4 3 4 4 14 TOTAL LIABILITIES 1 57,775 3,204 13,876 3,078 4,662 4,133 3,316 9,767 2,359 1,245 2,455 2,285 7,395 CAPITAL ACCOUNTS Capital paid in 518 24 136 29 46 26 30 7^ 18 12 23 30 70 Surplus 990 ^7 264 55 90 49 56 i4o 3^ 23 ^3 57 132 Other capital accounts 138 6 33 7 11 8 10 23 c 2 6 7 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 59, jjglj 3,281 1*1,309 3,169 4,809 4,216 3,^12 10,oo4 2,4i6 _J*§82_ 2,527 2,379 7,617 Contingent liability on accept ances purchased for foreign c orre spondent s 127 6 2/3^ 7 12 6 7 18 4 3 6 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 35,321 2,043 8,485 2,007 3,035 2,889 2,030 6,3W 1,417 615 1,345 1,103 4,0C8 Collateral for F. R. notes: Gold certificate account 6,563 411 1,670 425 500 595 3^0 1,100 270 112 225 180 735 Eligible paper 12 2 4 6 U. S. Government securities 29,870 1,670 6,950 1,700 2,700 2,330 1,750 5,400 1,210 510 1,150 1,000 3,500 Total collateral 36,445 2,C8l 8,620 2,127 3,200 2,925 2,090 6,500 1,484 622 1,381 1,180 4,235 1/ After deducting $103million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 93million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis