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 E.k.i'"" October 29, 1964 The average of daily figures of total member bank reserves held during the week ended October 28 decreased a net of $230 million to $20,758 million. Estimated currency and coin of member banks increased $109 million and their reserve balances at the Federal Reserve Banks decreased $339 million. Estimated required reserves decreased $111 million; and estimated excess reserves decreased $119 million to $296 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $66 million, compared with the revised figure of $35 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $553 million in Federal Reserve float, $150 million in member bank borrowings, and $25 million in Treasury currency outstanding. The principal offsetting changes were an increase of $27 million in acceptances held under repurchase agreements, and decreases of $202 million in Treasury deposits with Federal Reserve Eanks, $99 million in currency in circulation, $4l million in '''other" F. R. accounts (net), and $22 million in Treasury cash holdings. Total Reserve Bank credit decreased $675 million. As of Wednesday October 28, holdings of U. S. Government securities bought outright were $455 million higher than a week earlier and member bank borrowings were $668 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Eank credit, Oct. 28, Oct. 21, Oct. 30, Oct. 28, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Eank credit: U. S. Government securities-- Bought outright--System account 34,911 +2,498 35,218 Held under repurchase agreements - 61 Acceptances-- Bought outright 37 - 2 5 38 44 Held under repurchase agreements 27 + 27 25 Discounts and advances— Member bank borrowings 230 -I50 • 31 501 Other 3 + 1 - 27 2 Float 1,995 -553 + 579 1,451 Total Reserve Bank credit 37,203 ^75 +3,040 37^54 Gold stock 15,462 - 120 15,463 Treasury currency outstanding 5,513 - 77 5,507 58,178 -700 +2,8"41 58,225 Currency in circulation 38,333 - 99 +2,267 38,370 Treasury cash holdings 467 - 22 + 69 474 Treasury deposits with F. R. Banks 810 -202 96 710 Foreign deposits with F. R. Banks 137 + 7 - 30 151 Other deposits with F. R. Banks 185 - 4 - 12 183 Other F. R. accounts (net) 856 925 - 41 - 123 4o7f44 50,857 ^51 +2,075 Member bank reserves: With Federal Reserve Eanks 17,321 -339 + 768 17,480 Currency and coin (estimated) 3,437 +109 + 235 3,822 Total reserves held 20,758' -230 +1,003 21,302 Required reserves (estimated) 20,462 -111 +1,055 20,663 Excess reserves (estimated) 296 -119 - 52 639 On October 28, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,521 million, an increase of $93 million for the week and an increase of $302 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 OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 28, Oct. 21, Oct. 30, 1964 1964 1963 A S S E TS Gold certificate account 13,685 + 18 - 282 Redemption fund for F. R. notes 1,500 - 2 + 157 Total gold certificate reserves 15,185 + 16 - 125 Cash (606) 15* - 2 - 146 Discounts and advances 503 -668 + 288 Acceptances: Bought outright 38 -- 5 Held under repurchase agreements kk + 44 39 U. S. Government securities: Bought outright— Bills 4,863 +455 + 1,420 Certificates -- -- -10,712 Rotes 25,133 -- +11,140 Bonds 5,222 __ + 684 Total bought outright 35,218 +455 + 2,532 Held under repurchase agreements -- 93 Total U. S. Government securities 35,218 +"555" + 2,439 Total loans and securities 35,803 -169 + 2,761 Cash items in process of collection (1,376) 5,756 -877 + 529 Bank premises 102 — 2 Other assets 792 +149 + 283 TOTAL ASSETS (1,982) 57,792 3§3 + 3,300 L I A B I L I T I ES Federal Reserve notes (606) 33,213 - 39 + 2,226 Deposits: Member bank reserves 17,480 -211 + 812 U. S, Treasurer—general account 710 -499 51 Foreign 151 + 36 32 Other (**) 183 + 3 14 Total deposits 18,52? -671 + 715 (**) Deferred availability cash items (1,376) 4,305 -204 + 236 Other liabilities and accrued dividends 104 + 8 + 18 TOTAL LIABILITIES (1,982) 5S7IK ^906" + 3,195 C A P I T AL A C C O U N TS Capital paid in 521 -._ + 32 Surplus 990 -- + 56 Other capital accounts 135 + 23 + 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,982) 57,792 -683 + 3,300 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) 29.0$ +.h<fo 2.1$ 7* Contingent liability on acceptances purchased for foreign correspondents 128 +5 + 23 * 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 28, 1964 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum matiirity of the agreements.) U. S. Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 497 55 818 -154 16 days to SO days 6 27 8,891 +3^3 91 days to 1 year 10,040 +266 Over 1 year to 5 years 13,091 Over 5 years to 10 yeairrss 2,053 Over 10 years 325 Total m 503 3572IH W55 ** 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 BANK ON OCTOBER 28, 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 13,685 722 3,816 671 997 944 649 2,455 495 232 552 488 1,664 Redemption fund for P. R. notes i,5C0 85 343 62 14c 122 87 ..271 60 27 60 49 174 Total gold certificate reserves .15,185 807 4,159 753 1,137 1,066 736 2,726 555 259 612 537 l,ti3B F. R. notes of other Banks 6c6 215 39 25 45 43 37 17 37 19 30 53 i k6 Other cash | l$k 9 44 5 9 14 12 24 5 5 5 3 19 Discounts and advances j 503 6 31 2 9 47 38 166 17 7 3C 51 97 Acceptances: Bought outright 38 — 38 — -- — — — — — — — Held under repurchase agreements 1 hh — 44 — — — — — — — — — U. S- Government securities: Bought outright— Bills | 4,863 250 1,179 263 414 339 269 815 193 97 192 195 657 Certificates — -- -- -- -- -- __ __ -- __ __ -- _.. Notes 25,133 1,292 6,096 1,359 2,l42 1,750 1,387 4,213 999 499 993 1,007 3,396 Bonds 5,222 269 1,267 282 445 363 288 875 208 104 206 209 706 Total 35,218 1,811 13,542 l,90k 3,001 2,452 1,944 5', 9C3 1,4C0 700 1,391 ' • r, 4TI4 ,Y5y Held under repurchase agreements — — — — — — — — — — — — — Total u. S. Government securities 35,218 1,811 8,5^2 1,904 3,coi 2,452 1,944 5,903 1,400 700 1,391 l,4ll 4,759 Total loans and securities !35,803 1,819 8,655 1,906 3,010 2,499 1,982 6,069 1,417 707 1,421 1,462 4,856 Cash items in process of collection 7,132 497 1,377 423 514 518 571 1,175 344 224 424 390 67*» Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 792 1 4o 200 43 70 48 44 121 30 17 36 38 105 TOTAL ASSETS 59,774 3,221 14,658 3,172 4,771 4,195 3,406 10,174 2,374 1,253 2,523 2,471 7,556 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 OCTOBER 28, 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas J 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 33,819 1,981 7,948 1,960 2,867 2,858 1,946 6,144 1,351 591 1,307 1,045 3,821 Deposits: Member bank reserves 17,480 659 5,065 709 1,244 759 859 2,686 634 399 785 926 2,755 U.S. Treasurer-general account 710 41 60 50 49 49 39 119 48 33 52 91 79 Foreign 151 8 1/33 9 15 8 9 23 5 4 7 9 21 Other 183 *• 117 1 * 6 11 * 2 1 54 Total deposits 18,524 708 5,275 769 1,308 822 908 2,829 687 436 846 1,027 2,909 Deferred availability cash items 5,681 449 978 346 439 425 450 947 275 187 293 30c 592 Other liabilities and accrued dividends io4 5 25 5 10 7 6 17 4 2 5 5 13 TOTAL LIABILITIES 58,128 3,143 14,226 3,080 4,624 4,112 3,310 9,937 2,317 1,216 2,451 2,377 7,335 CAPITAL ACCOUNTS Capital paid in 521 25 137 29 47 26 30 74 18 12 23 30 70 Surplus : 990 47 264 55 90 49 56 i4o 34 23 43 57 132 Other capital accounts 135 6 31 8 10 8 10 23 5 2 6 7 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 59,774 3,221 14,658 3,172 4,771 4,195 3,406 10,174 2,374 1,253 2,523 2,471 7,556 Contingent liability on accept ances purchased for foreign correspondents 128 6 E/34 7 12 7 7 18 4 3 6 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,494 27024" 3~7054~ 2^W> 2,055 6,403 1,428 615 1,353 1,121 4,025 Collateral for F. R. notes: Gold certificate account 1,670 442255 500 595 340 1,100 270 112 225 180 735 Eligible paper 2 17 U. S. Government securities 6,950 1,700 2,7C0 2,375 1,750 5,600 1,210 510 1,200 1,0C0 3,500 Total collateral 2,070 8,620 2,127 3,200 2,970 2,090 6,700 1,497 622 1,425 1,180 4,235 T7 After deducting $118 million participations ofo ther Federal Reserve Banks, * Less than $500,0C0. 2/ After deducting $ 94 million participations of other Federal Reserve Eanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis