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.4.1**" November 5, 1964 The average of daily figures of total member bank reserves held during the week ended November 4 increased a net of $457 million to $21,227 million. Estimated currency and coin of member banks decreased $73 million and their reserve balances at the Federal Reserve Banks increased $530 million. Estimated required reserves increased $291 million; and estimated excess reserves increased $166 million to $48l million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $5 million, compared with the revised figure of $85 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $731 million in U. S. Government securities bought outright and $69 million in these held under repurchase agreements and $246 million in member bank borrowings, and a decrease of $144 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $360 million in Federal Reserve float and increases of $184 million in "other" F. R. accounts (net) and $111 million in currency in circulation. Total Reserve Bank credit increased $708 million. As of Wednesday, November 4, holdings of U. S. Government securities bought outright were $491 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $244 million higher, and member bank borrowings were $94 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 4, Oct. 28, "' Nov. 6~7 Nov. 4, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Bank credit: U. 8. Government securities-- Bought outright--System account 35,642 +731 +2,820 35,709 Held under repurchase agreements 69 + 69 - 140 244 Acceptances-- Bought outright 39 + 2 5 40 Held under repurchase agreements 47 + 20 4- 29 5^ Discounts and advances-- Member bank borrowings 476 +246 + 72 407 Other 3 - 27 2 Float 1,635 -36O + 320 1,187 Total Reserve Eank credit 37,911 +708 +3,069 37,643 Gold stock 15,462 - 121 15,^63 Treasury currency outstanding 5,505 - 8 - 88 5,497 +700 +2,860 5B7503 587BTS Currency in circulation 38,444 +111 +2,193 38,622 Treasury cash holdings 488 + 21 + 100 490 Treasury deposits with F. R. Banks 666 -144 - 157 546 Foreign deposits with F. R. Banks 122 - 15 - 4 131 3 Other deposits with F. R. Banks 197 + 12 + 4 197 Other F. R. accounts (net) 1,109 +184 + 90 1,171 41,026" +2,196 Si,157 Member bank reserves: With Federal Reserve Banks 17,851 +530 + 663 17,446 Currency and coin (estimated) 3,376 - 73 + 398 3,485 Total reserves held 21,227 +^57 +1,061 20,931 Required reserves (estimated) 20,746 +291 +1,009 20,900 Excess reserves (estimated) 481 +166 + 52 31 On November 4, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,176 million, a decrease of $345 million for the vieek and a decrease of $1.8? million from the comparable Digitized ford FaRtAeS EaR year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Nov. 4, Oct, 28, Nov. 6, 1961+ 1964 1963 .1 A S S E TS told certificate account 13,680 -5 - 2 77 ledemption fund for F. R. notes 1,497 - 3 + 1^.9 Total gold certificate reserves 15,177 - & 128 3ash (531) 151 - 3 + Discounts and advances 409 ~ 94 Acceptances: 3 Bought outright ^° + a 30 Held under repurchase agreements 4 +10 5 U. S. Government securities: + 1,780 Bought outright-- -10,712 Bills 5,35^ +491 +11,100 Certificates + 602 Notes 25A33 + 2,77-0 He B ld o n u d n s der repurchase agreements 5,2 o 2 4 2 4 „ + 2 . 4 " 4 116 Total bought outright 35,7p9 +4-91 + 2,65^ Total U. s. CTpvernment securites 35»953, ±735, + 2,828 Total loans and securities 36,456 + 559 Cash items in process of collection (1,385) 5,993 Bank premises 102 2 - 20 Other assets 504 TOTAL ASSETS (l,9l6) 5^73^3 +591 + 3,109 L I A B I L I T I ES Federal Reserve notes ~ (531) 33,480 +267 + 2,179 Deposits: Member bank reserves 17, kh6 - 3^ + ^75 Foreign 131 - 20 :o U. S. Treasurer—general account 546 -i64 - 130 Other 197 + 14 + 10 Total deposits 1^7320 ^204 + 329 Deferred availability cash items (1,385) 4,806 +501 + 479 Other liabilities and accrued dividends HI ± I ± i° TOTAL LIABILITIES U,9l6) ^Tfrf +571 + 3.005 C A P I T AL A C C O U N TS Capital paid in 521 — + 3J Surplus 990 — + 56 Other capital accounts 155 + 20 + 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS d,9l£) 58,383 ±591 ± 3>102 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shewn on the fol lowing pages--not consolidated) 29*0$ ~ 1.8$ Contingent liability en acceptances purchased for foreign correspondents 125 - 3 + 20 * 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, NOVEMBER 4, 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 Di*3 counts and Changes advance Acceptances Holdings during week \B Within 15 days 405 £5 7,401 16 days to 90 days 4 29 2,893 -5,998 91 days to 1 year -- — 10,ICO + •> 60 Over 1 year to 5 years — — 13,091 Over 5 years to 10 years -- -- 2,053 Over 10 years „ -- 325 Total 409 9* 35,953 + 735 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4-lO>) STATEMENT OF CONDITION OF FACH FEDERAL RESERVE EANK ON NOVEMBER 4, 1964 1 New Phila Cleve Rich St. Minne Kansas San Total 'B oston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS ! Gold certificate account 13.680 655 3,296 852 1,076 982 761 2,545 554 238 525 536 1,660 Redemption fund for F. R. notes 1^97 85 346 82 139 120 87 270 59 27 60 49 173 Total geld certificate reserves 15A7T I 740 3,642 934 1,215 " 1,102 848 2,815 613 265 585 585 " 1,833 F. R- notes of other Banks 531 1 45 191 29 25 36 39 32 14 35 13 30 42 Other cash 9 40 4 9 l4 12 23 4 5 6 3 22 i 151 Discounts and advances 23 94 5 9 16 199 6 32 16 Acceptances: k09 Bought outright 4C Held under repurchase agreements| 1*0 54 U. 8. Government securities: 5k 1 Bought outright-- Bills 294 1,263 285 452 371 283 937 2C8 104 212 202 7 fc3 Certificates 5,354 Notes 1,380 5,932 1,336 2,121 l,74l 1*328 4,402 976 488 997 947 3,485 Bonds 25 5 , , 1 22 3 2 3 1 286 . 1,-233,. 278 44o 362 275. 915 203 102 207 197.. 724 Total 135,709 j"l,960* 8,428 1,899 3,013 2,474 1,866 6,254 1,387 694 1,416 1,346 4,952 Held under repurchase agreements : 244 244 Total U. S. Government securities 35,953 1,960 8,672 1,899 3,013 2.474 1,886 6,254 1,387 694 1.4i6 1.346 4,9^2_ Total loans and securities 36,456 1,983 8,86c i,9cc 3,018 2,483 1,9C2 6,453 1,388 701 1,422 1,378 4,968 Cash items in process of collection 7,'378 560 1,294 513 542 585 581 1,188 366 253 420 368 708 Bank premises 102 1 3 8 3 6 18 22 6 4 6 11 10 Other assets 504 | 28 120 26 43 34 27 85 20 a_ 23 ia_ TOTAL ASSETS 60,299 3,368 14,155 3,409 4,858 4,259 3,427 10,618 2,411 1,272 2,475 2,3.°4 7,653 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 NOVEMBER 4, 1964 I ' 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 dollL ars) L I A B I L I T I ES Federal Reserve notes 34,011 1,986 7,997 1,973 2,873 2,886 1,965 6,167 1,362 596 1,316 1,046 3,844 Deposits: Member bank reserves 17,446 779 4,356 829 1,336 743 881 2,937 628 419 779 922 2,837 U. S. Treasurer-general account 546 43 92 26 42 39 52 63 17 23 34 37 78 Foreign 131 5 1/43 7 i 11 6 7 17 4 3 5 7 16 Other 197 l 119 * 8 2 #• 1 3 1 59 2 Total deposits :18,320 828 4,610 863 1,389 796 942 3,019 649 446 821 967 2,990 Deferred availability cash items 6,191 470 1,08C 475 439 486 417 1,173 339 190 261 281 580 Other liabilities and accrued dividends ! Ill 30 5 9 7 6 19 4 2 4 5 15 • 5 TOTAL LIABILITIES 58,633 37289 13,717 3,3~lo~ 4,710 57175 3,330 10,378 2,354 1,234 2,402 2,299 7,429 CAPITAL ACCOUNTS 1 Capital paid in 521 25 137 29 47 26 30 74 18 12 23 30 70 Surplus 990 : 47 264 55 90 49 56 14c 34 23 43 57 132 Other capital accounts ! 155 7 37 9 11 9 11 26 5 3 7 8 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS |6c 299_ 3,368 14,155 3,409 4,858 4,259 3,427 10,618 2,411 1,272 2,475 2,394 7,653 ji Contingent liability on accept ances purchased for foreign c orre spondent s 125 6 2/33 7 11 6 7 18 4 3 6 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 35,649 2,056 8,508 2,037 3,063 2,954 2,059 6,419 1,430 619 1,352 1,117 4,035 Collateral for F. R. notes: Gold certificate account 6,552 4oo 1,670 425 500 595 340 1,100 270 112 225 180 735 Eligible paper 2 1 1 U. S. Government securities 30,190 1,670 6,950 1,700 2,700 2,395 1,750 5,600 1,210 515 1,200 1,000 3,500 Total collateral 36,744 2,070 8,620 2,126 3,200 2,990 2,090 6,700 1,481 627 1,425 1,180 4,235 1/ After deducting $88 million participations of other Federal Reserve Banks, *Less than $500,000. 2/ After deducting $92 million participations of other Federal Reserve Eanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis