H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Bunks For immediate release October 8, l$6k The average of daily figures of total member bank reserves held during the week ended October 7 increased a net of $112 million to $21,253 million. Estimated currency and coin of member banks decreased $351 million and their reserve balances at the Federal Reserve Banks increased $^63 million. Estimated required reserves increased $72 million; and estimated excess reserves increased $U0 million to $1+26 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $56 million, compared with the revised figure of $1C8 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $392 million in U. S. Government securities bought outright and $l8l million held under repurchase agreements and $92 million in member bank borrowings, and decreases of $76 million in Treasury deposits with Federal Reserve Banks and $30 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $123 million in Federal Reserve float and increases of $135 million in currency in circulation and $37 million in "other" P. R. accounts (net). Total Reserve Bank credit increased $564 million. As of Wednesday, October 7, holdings of U. S. Government securities bought outright were $402 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $109 million higher, and member bank borrowings were $117 million higher. Outright holdings of bills, notes, and bonds increased $330 million, $28 million, and $kk million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday. Reserve Bank credit, Oct. 7, Sept. 30, Oct. 9, Oct. 7, and related items 1964 1964 1963 _; 1964 (In millions of dollars) : Reserve Bank credit: U. 8. Government securities-- Bought outright--System account 35,549 +392 +2,932 35,652 Held under repurchase agreements 210 +181 - 209 209 Acceptances-- Bought outright 38 + 3 + 1 4C Held under repurchase agreements 61 + 19 + 54 62 Discounts and advances-- Member bank borrowings 370 + 92 22 210 Other 2 -- - 28 2 Float 1,820 -123 + 293 1,635 Total Reserve Bank credit 38,051 +564 +3,021 37,810 Gold stock 15,463 + 2 - 120 15,463 Treasury currency outstanding 5,554 - 2 - 37 5,546 59,oST +564 +2,864 58,819 Currency in circulation 38,209 +135 +2,148 38,389 Treasury cash holdings 457 + 16 + 60 462 Treasury deposits with F. R. Banks 838 - 76 - 72 622) Foreign deposits with F. R. Banks 131 - 30 - 22 139' Other deposits with F. R. Banks 204 + 18 + 11 2C4i Other P. R. accounts (net) 1,103 + 37 - 38 1,085' 40,942 +101 +2,088 40,901' Member bank reserves: With Federal Reserve Banks 18,125 +463 + 776 17,917 Currency and coin (estimated) 3 2 128 -351 + 285 3,324 Total reserves held 21,253 +112 +1,061 21,241 Required reserves (estimated) 20,827 + 72 +1,070 20,768 Excess reserves (estimated 426 + 40 9 473 On October 7, 196U, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,393 million, an increase of $20 million for the week and an increase of $364 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 OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 7, Sept. 30 Obt. 9> 1964 1964 1963 A S S E TS Gold certificate""ac"count 13,688 - 13 - 285 Redemption fund for F. R. notes 1,496 + 7 H 165 Total gold certificate reserves 15,184 TT - 120 Cash (576) 153 - 8 - 145 Discounts and advances 212 +117 1 Acceptances: Bought outright 40 + 2 *• 2 Held under repurchase agreements 62 + 1 f 54 U. S. Government securities: Bought outright-- Bills 5,297 +330 + 1,905 Certificates -10,712: Notes 25,133 + 28 +11,140 Bonds 5,222 + 44 + 684 Total bought outright 357652 +4*02 + 3,017 Held under repurchase agreements 209 +109 - 135 Total U. S. Government securities 35,861 +511 + 2,882 Total loans and securities +631 36,175 Cash items in process of collection (1,197) 5,742 -154 Bank premises 102 Other assets 592 + 72 TOTAL ASSETS (1,773) 577941? +535 L I A B I L I T I ES Federal Reserve* notes *~ (576) 33,180 +244 + 2,130 Deposits: Member bank reserves 17,917 +796 + 1,280 U. S. Treasurer—general account 622 -311 - 282 Foreign 139 - 9 16 Other 204 + 10 + 22 Total deposits 157882 +TJH6* + 1,004 Deferred availability cash items (1,197) 4,107 -222 + 175 Other liabilities and accrued dividends 110 + 4 + 26 TOTAL LIABILITIES (1,773) 56,279 +512 + 3,335 C A P I T AL A C C O U N TS Capital pald"~in ~ 519 + 33 + 56 Surplus 990 Other capital accounts 160 + 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,773) 577951 +535 + 3,442 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted frcm figures as shown on the fol lowing pages--not consolidated) 28.8$ -.4$ - 2.2$ Contingent liability on acceptances purchased for foreign correspondents 126 - 1 +21 * 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, OCTOBER 7, 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 888 +238 Within 15 days 206 69 16 days to 90 days 6 33 9,344 + 63 91 days to 1 year 10,160 +137 Over 1 year to 5 years 13,091 +135 Over 5 years to 10 years 2,053 - 73 Over 10 years -- -- 325 + 11 Total 212 102 3*57*351 +511 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.5.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON OCTOBER 7, 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 13,688 722 3,446 781 1,056 968 725 2,302 508 273 594 577 1,737 Redemption fund for F. R. notes 1,496 85 343 82 151 128 89 267 60 27 57 48 170 Total gold certificate reserves 15,185 8C6 3,789 863 1,197 1,096 813 2,569 568 300 651 625 1,907 F. R. notes of other Banks 576 52 202 51 22 37 58 29 15 42 14 26 48 Other cash 153 7 5l 5 11 15 13 22 6 5 6 3 20 Discounts and advances 212 23 2 11 * 6 19 67 6 2 22 26 26 Acceptances: Bought outright 5o -- 5o -- -- -- -- -- -- -- -- — Held under repurchase agreements 62 -- 62 — -- — -- -- __ U- S- Government securities: Bought outright-- Bills ; 5,297 285 1,258 285 437 370 300 905 207 102 211 211 737 Certificates -- -- -- -- -- -- -- -- -- — -- -- — Notes !25,133 1,350 5,921 1,352 2,077 1,755 1,522 4,291 984 483 1,CC0 1,000 3,498 Bonds i 5,222 280 1,230 28l U31 365 295 892 205 101 208 207 727 Total 135,652 1,915 "8~,399 1,918 2,9"45 2,590 2,017 67087 1,396 686 1,519 1,518 5,962 Held under repurchase agreements 209 -- 209 -- -- — -- -- -- — -- -- — Total U. S. Government securities ;35,861 1,915 8,608 1,918 2,9^5 2,590 2,017 6,087 1,396 686 1,419 1,518 5,962 Total loans and securities 136,175 1,938 8,712 1,929 2,945 2,596 2,036 6,154 1,402 688 l,44i 1,555 4,990 Cash items in process of collection 6,939 509 1,344 389 586 526 558 1,094 318 233 430 337 725 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 592 31 l45 32 51 37 33 94 22 12 27 27 81 TOTAL ASSETS 159,721 3,346 15,241 3,26i 4,718 5,212 3,509 9,984 2,337 1,284 2,575 2,473 7,781 *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 BAIJK ON OCTOEER 7, 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) L I A B I L I T I ES Federal Reserve notes 33,756 1,973 7,956 1,948 2,854 2,834 1,953 6,129 1,350 590 1,309 1,037 3,823 Deposits: Member bank reserves 17,917 791 4,760 816 1,244 813 937 2,628 639 421 846 1,031 2,941 U.S. Treasurer-general acccD unt 622 59 100 57 37 38 28 52 29 37 52 42 91 Foreign 139 6 1/44 7 12 7 7 18 5 3 6 7 17 Other 204 128 1 * 8 2 2 * * 2 2 59 Total deposits 18,882 856 5,032 881 1,293 866 1,024 2,700 673 461 906 1,082 3,108 Deferred availability cash items 5,304 433 785 335 413 420 429 895 252 193 283 255 611 Other liabilities and accria ed dividends 110 5 29 5 10 7 6 19 4 2 4 4 15 TOTAL LIABILITIES 58,052 3,267 13,802 3,169 4,570 4,127 3,412 9,743 2,279 1,246 2,502 2,378 7,557 CAPITAL ACCCUKTS Capital paid in 519 25 136 29 46 26 30 74 18 12 23 30 70 Surplus 990 264 55 90 49 56 l4o 3^ 43 57 132 47 23 Other capital accounts 160 7 39 8 12 10 11 27 6 3 7 8 22 TOTAL LIABILITIES AHD CAPITAL ACCCUKTS 59,721 3,3'+6 14,241 3,261 4,718 4,212 3,509 9,984 2,337 —^£§4= 2,575 2,473 7,781 Contingent liability on ace* eptances purchased for fore:i gn correspondents 126 6 2/33 7 12 6 T 18 4 3 6 7 17 FEDERAL RESERVE AGENT'S ACCCUKTS F. R. notes outstanding 35,393 2,050 8,481 2,012 3,028 2,915 2,038 6,356 1,413 617 1,351 1,125 4,007 Collateral for F. R. notes: Gold certificate account 6,552 4co 1,670 442255 500 595 340 1,100 270 112 225 180 735 Eligible paper 39 11 6 22 U. S. Government securities 29,890 1,670 6,950 1,700 2,700 ?,350 1,750 5,400 1,210 510 1,150 1,000 3,500 Total collateral 36,481 2,070 8,620 2,136 3,200 2,945 2,090 6,50c 1,486 622 1,397 1,180 4,235 1/ After deducting $95 million participations of other Federal Reserve Banks, * Less than $500,CCO. 2/ After deducting $93 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis