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. Banks For immediate release November 27, 1964 The average of daily figures of total member hank reserves held during the week ended November 25 decreased a net of $273 million to $21,029 million. Esti mated currency and coin of member banks increased $6l million and their reserve balances at the Federal Reserve Banks decreased $334 million. Estimated required reserves increased $83 million; and estimated excess reserves decreased $356 million to $260 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Eanks by $101 million, compared with the revised figure of $26 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $431 million in member bank borrowings, $90 million in U. S. Government securities held under repurchase agreements^and $32 million in gold stock, and increases of $96 million in currency in circulation and $95 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $174 million in Federal Reserve float, $169 million in U. S. Government securi ties bought outright, and $33 million in acceptances held under repurchase agree ments, and decreases of $42 million in Treasury deposits with Federal Reserve Banks and $32 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $144 million. As of Wednesday, November 25, holdings of U. S. Government securities bought outright were $515 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $504 million lower, and member bank borrowings were $11 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 25, Nov. 18, Nov. 27, Ncv. 25, and related items 1964 1964 196-3. 1964 (In millions of dollars) Reserve Bank credit: U« S. Government securities-- Bought outright--System account 35,867 +169 +2,849 36,280 Held under repurchase agreements 125 - 90 + 32 Acceptances— Bought outright 43 + 2 __ 45 Held under repurchase agreements 55 + 33 55 44 Discounts and advances-- Member bank borrowings 159 -431 41 158 Other 3 __ - 30 Float 2,136 +174 + 10 1,612 Total Reserve Bank credit 38,38S "^44 +2,876 381I4T Gold stock 15,^30 - 32 - 152 15,388 Treasury currency outstanding 5,494 - 3 - 99 5,487. 59,312 ~i8o +2,625 59^16 Currency in circulation 39,071 + 96* +2,199 39,266 Treasury cash holdings 552 + 19* + 166 559 Treasury deposits with F. R. Banks 521 - 42 - 485 752 foreign deposits with F. R. Banks 148 + 18 194 CA,her deposits with F. R. Banks 183 - 32 - 16 186 Other F. R. accounts (net) 1,245 + 95 5 1,081 41,720 +154 +1,856 427035 Member bank reserves: With Federal Reserve Banks 17,592 -334 + 769 16,978 Currency and coin (estimated) 3,437 + 61 + 225 3,854 Total reserves held 21,029 -273 + 994 20IB32 Required reserves (estimated) 20,769 + 83 +1,069 20,828 Excess reserves (estimated) 260 -356 - 75 4 * Kov^mber 18 figures corrected. On November 25, 1964, U. S. Government securities held in custody by the Federal Reserve B^mks for foreig n account were $8,334 million, an increase of $112 million for the wcok a.n/5 ar lecrea.se of $3.20 million from the comparahle date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Nov. 25, " Nov. 157 Nov- 27, 1964 1964 1963 A S S E TS Gold certificate account 13,556 9k - 373 Redemption fund for F. R. notes 1,535 + 11 + 170 Total gold certificate reserves 15,091 83 - 203 Cash (439) 130 — 110 Discounts and advances l60 11 - 445 Acceptances: Bought outright 45 •• 3 + 2 Held under repurchase agreements 44 5 + 44 U. S. Government securities: Bought outright— Bills 5,925 + 515 +2,096 Certificates -- -- -7,066 Notes 25,133 -- +7,454 Bonds 5,222 ^Z + 602_ Total bought outright 36,280 + 515 +3,086 Held under repurchase agreements -- - 504 - 132 Total U.S. Government securities 36,280 + 11 +2,95^ Total leans and securities 36,529 + 20 +2., 555 Cash items in process of collection (1,383) 6,059 -1, 224 +1., 000 Bank premises 102 -- - 2 Other assets 577 + 247 + 307 TOTAL ASSETS (1,822) 58,488 jO., 040 ±2., 547 L I A B I L I T I ES Federal Reserve notes ~ (*39) 3^,171 f 247 +2., 1P0 Deposits: Member bank reserves 16,978 - 907 + 519 U. S. Treasurer—general account 752 + 327 - 190 Foreign 19^ + 37 + 3h Other 1.86 - 5 + _J£ Total deposits 18,110 - 548 + 375 Deferred availability cash items (1,383) 4,447 - 765 + 856 Other liabilities and accrued dividends 118 + 2 + 2^ TOTAL LIABILITIES (1,822) 56,846 -1, 064 + 3;, 446 C A P I T AL A C C O U N TS Capital paid in 522 1 + 30 Surplus 990 -- + 56 Other capital accounts 130 + 23 + 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,822) 587%86 -1,0^0 +3, 5^7 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) 28.6$ — - 2.0$ Contingent liability on acceptances purchased for foreign correspondents 123 - 1 + 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 25, 196^ " (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 Changes Disccunts and Holdings during week advances Acceptances Within 15 days 156 50 916 -6l4 16 days to 90 days 4 39 3,392 +199 91 days to 1 year 16,475 +426 Over 1 year to 5 years 13,119 __ Over 5 years +.0 10 years 2,CP8 — Over 10 years 290 -- Total igo B9 36,280 + TI Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMEKT OF CONDITION OF EACH FEDERAL RESERVE BANK OK NOVEMBER 25, 1964 San New Phila Cleve Rich St. Minne• Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions3 of dollars) A S S E TS Gold certificate account 13,556 685 3,229 765 988 995 709 2,363 526 262 672 65C 1,712 Redemption fund for F. R. notes 1,535 87 353 83 138 127 91 279 62 27 60 50 178 Total gold certificate reserves 15,091 772 3,582 84b 1,126 1,122 800 2,642 588 289 732 7CC 1,890 F. R. notes of other Banks ^39 29 161 18 17 26 38 32 14 23 13 26 42 Other cash 130 7 35 3 8 9 11 21 5 4 5 4 18 Discounts and advances 160 23 8 2 7 17 37 * 15 10 19 21 Acceptances: Bought outright ^5 -- 45 -- -- — -- -- -- — -- -- Held under repurchase agreements kk 44 U. S. Government securities: Bought outright— Bills 5,925 314 1,436 322 502 417 329 1,011 233 118 213 219 811 Certificates „ 1 -- -- -- -- -- -- -- -- -- -- ~- Notes 25,133 1,333 6,094 1,364 2,131 1,769 1,397 4,287 989 498 903 926 3,442 Bonds 5,222 277 1,266 284 443 367 290 891 206 104 187 192 715 Total 36,280 1,924 8,796 1,970 3,076 2,553 2,016 6,189 1,428 720 1,303 1,337 4,968 Eeld under repurchase agreements -- -- -- -- -- — -- -- -- -- -- -- -- Total U. S. Government securities 36,280 1,924 8,796 1,970 3,076 2,553 2,016 6,189 1,428 720 1,303 1,337 4,968 Total loans and securities 36,529 1,947 8,893 1,972 3,077 2, 560 2,033 6,226 1,428 735 1,313 1,356 4,989 Cash items in process of collection 7,442 506 1,447 433 514 570 588 1,160 364 245 482 385 748 Bank premises 102 3 8 3 6 5 18 22 4 6 11 10 Other assets 577 28 148 31 51 32 33 83 21 13 30 30 77 TOTAL ASSETS 60,310 3,292 14,274 3,308 4,799 4,324 3,521 10,186 2,426 1,313 2,581 2,512 7,77^ ^^^^_n^_ _..^ . . .^ _ _, ,_, , . §i ^__^ , —• *Iees than $?CO,OOG. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN NOVEMBER 25, 1964 San New Phila Cleve Rich St. Kansas Total Boston Atlanta Chicago Minne Dallas | Fran York delphia land mond Louis City apolis i cisco L I A B I L I T I ES (In millions of dollars) Federal Reserve notes 34,610 2,034 8,099 2,026 2,944 2,950 2,007 6,276 1,382 601 1>326 1,062 3,903 Deposits: Member "bank reserves 16,978 653 4,453 755 1,172 793 899 2,605 640 431 791 981 2,805 U.S. Treasurer-general a<2 count 752 49 83 54 65 52 57 60 56 37 62 59 lie Foreign 194 9 1/55 11 17 10 11 27 6 4 8 11 25 Other 186 109 1 1 6 l 3 1 * 3 2 .59 Total deposits 18,110 711 4,700 821 1,255 861 968 2,695 703 472 864 1,053 3,00* Deferred availability cash items 5,830 46 3 1,016 364 444 422 443 959 279 200 314 298 628 Other liabilities and accria ed dividends 116 6 28 6 10 7 7 20 5 3 5 5 16 TOTAL LIABILITIES 58,668 3,214 13,843 3,217 4,653 4,240 3,425 9,950 2,369 1,276 2,509 2,4l8 7,554 CAPITAL ACCOUNTS Capital paid in 522 25 137 29 47 26 31 74 18 12 23 30 TO Surplus 990 47 264 55 90 49 56 l4o 34 23 43 57 Other capital accounts I 130 : 6_ 3P__ J_. 9_ S- 9 22 _5__ 2 6 I_ .,18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 60,310 3,292 14,274 3,308 4,799 4,324 3,521 10,186 2,426 1,313 2,581 2,512 7,774 :ept - Contingent liability on ac( ign ances purchased for fore: correspondents - 123_ 6 _.....|/3.3_. 7 11 6 7 17 4 3 5 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,405 2,102 8,675 2,093 3,134 3,030 2,126 6,532 i7W~ 621 1,374 1,146 4,103 Collateral for F. R. notes: Gold certificate account 6,667 410 1,720 450 500 615 340 1,100 112 225 180 735 280 Eligible paper 1 1 U. S. Government securities 30,645 1,720 7,100 1,800 2,700 2,450 i,8co 5,600 515 1,200 1,000 3,500 1,260 Total collateral 37,313 2,130 8,820 2,251 3,200 3,065 2,140 6,700 1,540 627 1,425 1,180 4,235 1/ After deducting $139 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 90 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis