H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.U.I October 22, 1964 The average of daily figures of total member bank reserves held during the week ended October 21 increased a net of $38 millicn to $21,020 million. Estimated currency and coin of member banks increased $117 million and their reserve balances at the Federal Reserve Banks decreased $79 million. Estimated required reserves increased $37 million; and estimated excess reserves increased $1 million to $401 millicn. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $21 million, compared with the revised figure of $l6l million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $623 million in U. S. Government securities bought outright and $131 million in those held under repurchase agreements, $56 million in acceptances" held under repurchase agreements and an increase of $l47 millicn in Treasury deposits with Federal.Reserve Banks. The principal offsetting changes vere increases of $673 million in Federal Reserve float and $l4l million in member bank borrowings, and decreases of $62 million in "other" F.R. accounts (net) and $33 million in currency in circulation. Total Reserve Bank credit increased $2 million. As of Wednesday, October 21, holdings of U. S. Government securities bought outright were $348 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $26 million lower, and member bank borrowings vere $1,092 million higher. _Averages of daily figures Member bank reserves, ¥e^k~endedf [Change from week ended Wednesday, Reserve Eank credit, Oct. 21, Oct. 14, Oct. 23, Oct. 21, and related items 1964 196k 1963 1964 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 3k,9C9 -623 +2,683 34,763 Held under repurchase agreements -131 Acceptances- Bought outright 39 - 2 38 Held under repurchase agreements - 56 Discounts and advances- Member bank borrowings 380 +l4l + 19 1,169 Other 2 - 29 2 Float 2,548 +673 + 618 2,124 Total Reserve Bank credit 37,878 + 2 +3,289 387C96" Gold stock 15,463 + 1 - 118 15,463 Treasury currency outstanding 5.538 - 3 - 45 5,5l6 58,878 - 1 +3,126 59,075 Currency in circulation 38,432 - 33 +2,267 38,431 Treasury cash holdings 489 + 19 + 95 474 Treasury deposits with F. R. Banks 1,012 +147 + 97 l,2C9 Foreign deposits with F. R. Banks 130 - 3 - 4i 115 Other deposits with F. R. Banks 189 + 12 + 1 180 Other F.R. accounts (net) 966 - 62 - 94 974 41,218 + 78 +2,325 +1,383 Member bank reserves: With Federal Reserve Banks 17,660 - 79 + 800 17,691 Currency and coin (estimated) 3,360 +117 + 278 3,717 Total reserves held 21,020 + 38 +1,078 2l,4c8 Required reserves (estimated) 20,619 + 37 +1,106 20,602 Excess reserves (estimated) 401 + 1 - 28 8c6 On October 21,1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,428 million, an increase of $45 million for the week and an increase of $290 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) C0NSOLU3ATED SIAT5WJ OF O08BEGICIL OP THE TWSWE F TO "KSSt^TE PAMK3 (In milieus of dollars) Charifte since Oct- 21; €et. 14° Oct. 23; isii. Jaes a«i_ ASSESS Gold certificate account 13 667 - 10 - 285 Redemption fund for F. R, notes 1^502 — + 158 Total gold certificate reserves 157169 - 10 - 127 Cash (579) 156 + 6 147 Discounts and advances 1,171 +1,092 + 860 Acceptances: Eought outright 3 8 -2 3 Held under repurchase agreements -- 52 U. S. Government securities: Bought outright-- Bills 1^408 348 +11,378 Certificates — — -10,712 Notes 25,133 — +11,140 Bonds 5,222 — + 684 Total bought outright W f fe - 3^ + 2,490 Held under repurchase agreements -- - 26 -_- Total U. s. Government securities 3^77^3 - 37% + 2,4g0 Total loans and securities 35,972 + 664 + 3/353 Cash items in process of collection (1,549) 6,633 320 + 1,093 Bank premises 102 -- - 2 Other assets ; 643 + 2 + 206 TOTAL ASSETS (2,128) 58,675 + 342 + 4,3jg L I A B I L I T I ES Federal Reserve notes (579) 33,252 - 100 + 2,277 Deposits: Member bank reserves 17,691 839 + 1,3H U. S. Treasurer--general account 1,209 167 + 366 Foreign 115 15 81 Other 180 21 _ ,3_ Total deposits 19,195 + 970 +:%6l3 Deferred availability cash items (l,549) 4,509 - 544 + 367 Other liabilities and accrued dividends 96 - 7 + 1.8 TOTAL LIABILITIES (2,128) 57.052 + 319 +4,275 C A P I T AL A C C O U N TS Capital paid in 521 1 + 33 Surplus 990 -- + 56 Other capital accounts 112 + 22 + 12 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS (2,128) 58,$75 + 342 + 4,376 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) 28.6fo .% * 2,6c/o Contingent liability on acceptances purchased _jj3g foreign correspondents 123 1 + 19 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis en the following pages MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 21, 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 wggk Within 15 days 11,,11666 6 1111 997722 +302 16 days to 90 days 55 2277 88,,55^488 -468 91 days to 1 year -- --- - 99,,7777^4 -208 Over I year to 3 y^ars _- -- 13,091 Over 5 years to 10 y^a'rS -- 2,053 Over 10 years „ -- . 325 Total Y,1T~ W WT63 -374 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 OCTOEER 21, 1964 r-—— — San New Phila Cleve Rich St. Kansas Total Boston Atlanta Chicago Minne Dallas JF ran York delphia land mond Louis apolis City 1 c isco (In millions of doll, ars) A S S E TS Gold certificate account 13,667 607 3,709 755 1,083 894 706 2,251 557 268 600 526 1,711 Redemption fund for F. R- notes 1,502 84 3kk 83 140 123 88 271 59 27 60 h9 174 Total gold certificate reserves 15,169 691 4,053 838 1,223 1,017 794 2,522 616 295 660 575 1,885 F. R. notes of other Banks 579 44 217 37 22 44 4l 34 17 36 16 29 42 Other cash 156 8 ^3 5 10 14 12 23 5 5 6 4 21 Discounts and advances 1,171 12 247 16 36 99 72 326 38 4o 67 60 158 Acceptances: Bought outright 38 38 U- S. Government securities: Bought outright-- Bills 4,4c8 235 1,054 237 372 3C9 245 747 173 87 174 173 6C2 Certificates Notes 25,133 l,34l 6,cc8 1,353 2,119 l,76i 1,398 4,263 988 494 993 985 3,430 Bonds 5,222 279 1,248 281 44o 366 290 866 205 102 205 713 Total "35", 763 1,855 8,310 1,871 2,931 2,43b 1,933 5,896 1,366 683 1,374 1,363 4,745 Held under repurchase agreements Total U. S. Government securities 3^,763 1,855 8,310 1,871 2,931 2,436 1,933 5,896 1,366 683 1,374 1,363 4,745 Total loans and securities 35,972 1,867 8,595 1,887 2,967 2,535 2,005 6,222 1,404 723 l,44i 1,423 4,903 Cash items in process of collection 8,182 619 1,664 448 574 599 637 1,366 377 254 496 390 758 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 643 33 159 34 56 4o 36 101 25 13 30 30 66 TOTAL ASSETS 60,803 3,265 14,739 3,252 4,858 4,254 3,543 10,290 2,450 1,330 2,655 2,462 7,705 _ , ^_. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF COEDITIOH OF EACH FEDERAL RESERVE BAIIK ON OCTOBER 21, 1964 San New Phila Cleve Rich 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 33,831 1,983 7,951 1,958 2,868 2,846 1,952 6,152 1,353 592 1,3H 1,045 3,820 Deposits: Member bank reserves 17,691 629 5,035 74o 1,208 769 910 2,679 644 422 845 947 2,863 U.0. Treasurer-general account 1,209 67 200 70 129 66 69 172 99 69 87 80 101 Foreign 115 5 1/35 6 10 5 6 15 4 3 5 6 15 Other 180 1 109 1 1 7 1 1 1 3 1 54 Total deposits 19,195 702 5,379 817 1,348 847 986 2,867 748 494 940 1,034 3,033 Deferred availability cash items i 6,058 498 960 382 489 473 505 1,022 289 205 329 286 620 Other liabilities and accrued dividends 96 5 22 5 8 6 6 16 4 2 4 4 14 TOTAL LIABILITIES 59,160 3,188 "lfc,, 312 3,162 4,713 4,172 3,449 10,057 2,394 1,293 2,584 2,369 7,487 CAPITAL ACCOUNTS Capital paid in 1 521 1 25 137 29 47 26 30 74 18 12 23 30 70 Surplus i 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 1 112 5 26 6 8 7 8 4 2 5 6 16 19 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS j60,803 3,265 14,739 3,252 4,858 4,254 3,543 10,290 2,450 1,330 _2,i5_5_ 2,462 7,705 Contingent liability on accept ances purchased for foreign correspondents 123 6 2/33 7 11 6 7 17 4 3_ 5_ I_ IT FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 2,057 87485 27329 37551 27^25 27U55 674015 I7432- "ST? 1,351 1,124 4,020 Collateral for F. R. notes: Gold certificate account 4oc 1,670 425 500 595 34o 1,100 270 112 225 180 735 Eligible paper 16 - - - - 38 U. C. Government securities 1,670 6,950 1,700 2,700 2,375 1,750 5,400 1,210 510 1,200 1,000 3,5CC Total collateral 2,070 8,620 2,141 3,200 2,970 2,090 6,500 1,518 622 1,425 1,18c 4,235 1/ After deducting" "$~ 80" millionp"a rticipations of other Federal Reserve Banks, * Less than $500,OCC. 2/ After deducting $ 90 million participations of other Federal Reserve Eanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis