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 H.lf.l"" December 10/ 1964 The average of daily figures of total member bank reserves held during the week ended December 9 decreased $246 million to $21,148 million. Estimated currency and coin of member banks decreased $143 million and their reserve balances at the Federal Reserve Banks decreased $103 million. Estimated required reserves decreased $133 million; and estimated excess reserves decreased $113 million to $215 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $93 million, compared with the revised figure of minus $47 million the week before, when excess reserves were less than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $253 million in member bank borrowings and $57 million in Treasury currency outstanding, and increases of $3^5 million in nothern F. R. accounts (net), $200 million in currency in circulation, and $46 mil lion in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $668 million in U. S. Government securities bought out right and $90 million in Federal Reserve float, and a decrease of $38 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $511 million. As of Wednesday, December 9, holdings of U. S. Government securities bought outright were $332 million lower than a week earlier and member bank borrow ings were $94 million higher. Outright holdings of bills decreased $385 million; notes and bonds increased $32 million and $21 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec 9, Dec. 2, Dec. 11, Dec. 9, and related items 1964 1964 1963 1964 (In millions of dollars J Reserve Bank credit: U, S. Government securities— Bought outright—System account 37,335 +668 +3,576 37,039 Held under repurchase agreements - "90 Acceptances— Bought outright 48 + 4 + 4 49 Held under repurchase agreements 23 + 18 9 Discounts and advances-- + 2 Member bank borrowings 122 7 244 Other 2 -253 31 2 Float 1,950 + 90 51 1,534 Total Reserve Bank credit 397^0 +3,535 387^77 +511 Gold stock 15,387 - 195 15,388 Treasury currency outstanding 5,400 - 57 - 186 5,397 60,268 ^55~ +3,155 59~^2 Currency in circulation 39,476 +200 +1,989 39,717 Treasury cash holdings 571 +15 + 183 585 Treasury deposits with F. R. Banks 873 + 46 + IT 1,118 Foreign deposits with F. R. Banks 186 - 38 + ^3 148 Other deposits with P. R. Banks 186 - 10 - 16 I83 Other F. R. accounts (net) 1,231 +345 - 37 , I,!??, 42,523 +558" +2,160 42, »^ Member bank reserves: With Federal Reserve Banks 17,745 -103 + 975 16,774 Currency and coin (estimated) 3,403 -143 +_179 3,836 Total reserves held 21,148 ^2SS 20,610 Required reserves (estimated) 20,933 -133 +1,129 20,880 Excess reserves (estimated) 215 -113 + 25 - 270 On December 9, 1964, U. S. Government securities held in custody by the Federal Resex-ve Banks for foreign account were $8,335 million, an increase of $231 million for the -week and a decrease of $249 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) Cheinge,s ince Dec- 9, Dec. 2, Dec. 11, ,1964 ,1964 1963 A S S E TS Gold certificate account 13,53^ - 19 - 368 Redemption fund for F. R. notes 1,5^7 + 11 + 151 Total gold certificate reserves 15,C«3 - 8 - 217 Cash (423) HI - 11 - 96 Discounts and advances 2h6 + 94 - 75 Acceptances: Bought outright 49 + 4 + 4 Held under repurchase agreements 9 - 21 4 U. S. Government securities: Bought outright — Bills 6,511 -385 +2,423 Certificates -- • « -7,066 Notes 25,188 + 32 +7,^59 Bonds 5,27^ + 21 + 629 Total "bought outright 37,039 -332 +3,445 Held under repurchase agreements -- 3 Total U. S» Government securities 37,039 ^332 +3i_442 Total loans and securities 37,3^3 -255 +3,375 Cash items in process of collection (1,215) 5,702 -713 - 116 Bank premises 102 -- 2 Other assets 584 +203 + 272 TOTAL ASSETS (1,638) 58,925 -784 +3,216 L I A B I L I T I ES Federal Reserve notes (423) 34,711 +346 +2,342 Deposits: Member bank reserves 16,774 -935 + 589 U. S. Treasurer—general account l.ll8 +501 + 51 Foreign 148 -133 - 16 Other 183 - 7 - 12 Total deposits 18,223 -574 + 612 Deferred availability cash items (1,215) 4,168 -583 + 119 Other liabilities and accrued dividends 134 + 2 + 37 TOTAL LIABILITIES (1,638) 57723^ -809 +3,110 C A P I T AL A C C O U N TS Capital paid in 522 -- + 30 Surplus 990 -- + 56 Other capital accounts 171 + 25 + 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,638) 5"8,925 -784 +3,216 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) 28.3$ -*1# - 2.1$ Contingent liability on acceptances purchased for foreign correspondents 12^ - 1 + 25 * 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 AMD SECURITIES, DECEMBER 9, 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 Discounts and Changes advances Acceptances Holdings during week 15 Within 15 days 2kk 619 -273 16 days to 90 days 2 42 3,799 • 3 91 days to 1 year 17,023 -109 Over 1 year to 5 years 13,170 + 33 Over 5 years to 10 years 2,133 + 15 Over 10 years 295 + 3 Total 2% 5H 37/039 T332 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 OH DECEMBER 9, 1964 New Phila Cleve- Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 13,536 643 3,333 717 1,057 1,006 746 2,354 471 271 569 472 1,897 Redemption fund for F. R- notes 1,547 88 357 85 137 .125- 3A. 283 62 27 60 _5P_ 177 Total gold certificate reserves 15,083 731 3,690 802 1,194 1,131 842 2,637 533 298 629 522 2,074 F. R. notes of other Banks 423 24 167 15 17 24 38 30 14 20 11 21 42 Other cash 111 5 24 3 7 10 5 4 4 2 16 10 21 Discounts and advances 2-46 13 33 14 7 1 Acceptances: 8 143 Bought outright 49 49 Held under repurchase agreements 9 9 U. S. Government securities: Bought outright-- Bills 6,577 347 1,621 358 551 463 368 1,107 254 129 257 256 866 Certificates Notes 25,188 1,330 6,206 1,371 2,109 1,773 1,410 4,238 972 493 985 982 3,319 Bonds 5,274 279 1,299 287 442 371 295 887 204 103 206 206 695 Total 37,039 1,956 9,126 2,016 3,102 2,607 2,073 6,232 1,430 725 1,448 1,444 4,880 Held under repurchase agreements • • Total U. S. Government securities 37,039 1,956 9,126 2,016 3,102. .2,607.,,_ _2,0T3_._ 6,232 1,430 725 l,W 1,444 4.880 Total loans and securities 37,343 ' 1,969 9,217 2,019 3,105 2,609 2,081 6,375 1,434 739 1,455 1,451 4,889 Cash items in process of collection 6,917 481 1,270 412 496 534 566 1,073 34o 232 453 331 729 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 584 29 152 32 52 32 33 87 21 13 26 30 77 TCTAL ASSETS 60,563 i 3,242 14,528 3,286 4,877 ^,3^5 3,588 10,245 2,353 1,310 2,584 2,368 7,837 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 DECEMBER 9, 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 35,134 2,065 8,238 2,053 2,993 2,988 2,055 6,342 1,404 612 1,348 1,077 3,959 Deposits: Member "bank reserves 16,774 589 4,548 707 1,184 764 890 2,635 585 423 779 851 2,819 U.S. Treasurer-general account 1,118 81 218 74 100 75 78 114 39 46 74 65 154 Foreign 148 7 1/42 8 13 7 8 21 5 3 6 20 Other 183 "114 1 * 6 1 2 # 1 4 1 53 Total deposits 16,223 677 4,922 790 1,297 852 977 2,772 629 473 863 925 3,046 Deferred availability cash items 5,383 412 893 342 425 408 451 865 257 184 295 264 587 Other liabilities and accrued dividends 134 7 33 7 11 10 7 22 5 3 5 6 18 TOTAL LIABILITIES 58,874 3,l6l 14,086 3,192 4,726 3,490 10,001 2,295 1,272 2,511 2,272 7,610 CAPITAL ACCOUNTS 4,258 Capital paid in 522 25 137 29 47 31 74 18 12 23 3C 70 Surplus 990 47 264 55 90 26 56 140 34 23 43 57 132 Other capital accounts 177 9 41 10 14 11 30 6 3 7 9 25 TOTAL LIABILITIES AND 49 CAPITAL ACCOUNTS 60,563 3,242 14,528 3,266 4,877 4,34 1 5 2 3,588 10,245 2,353 1,310 2,584 2,368 7,831 Contingent liability on accept ances purchased for foreign corre spondent s 124 6 £/33 7 11 6 7 18 4 3 5 7_ 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,768 2,108 3,177 3,070 2,155 6,601 1,477 630 1,397 1,154 4,136 Collateral for F. R. notes: Gold certificate account 1,720 440 50c 615 340 1,ICO 280 112 225 180 735 Eligible paper 2 2 4 U. S. Government securities 7,200 1,800 2,700 2,490 1,850 5,6cc 535 1.20C 1X00 ^.700 Total collateral 2,155 8,920 2,242 3,200 3,107 2,190 6,70c 1,544 647 1,425 1,180 4,435 1/ After deducting $ic6million participations of other Federal Reserve Banks. *Less than $500,000. 2/ After deducting $ 91 mill ion participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis