H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.^sssk F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and '•rf^rs^V Condition Statement of F.R. Banks For immediate release H.4.1 December 24, 1964 The average of daily figures of total member bank reserves held during the week ended December 23 increased a net of $465 million to $21,850 million. Esti mated currency and coin of member banks decreased $58 million and their reserve balances at the Federal Reserve Banks increased $523 million. Estimated required reserves increased $4o4 million; and estimated excess reserves increased $6l million to $44-9 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $192 million, ccmpared with the revised figure of $254 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $823 million in Federal Reserve float and $123 mil lion in member bank-borrowings, and decreases of $49 million in nothern F. R. accounts (net) and $46 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $360 million in U. S. Government securities bought outright and $49 million in those held under repurchase agreements, and an increase of $91 million in currency in circulation. Total Reserve Bank credit increased $543 million. As of Wednesday, December 23; holdings of U. S. Government securities bought outright were $289 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $38 million lower, and member bank borrowings were $279 million higher. Averages of dailv figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 23, Dec, 16, Dec. 25, Dec. 23, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 36,660 -360 +3,108 36,618 Held under repurchase agreements 266 - k9 + 232 4l2 Acceptances-- Bought outright 52 + 2 5 53 Held under repurchase agreements -- -- 56 -- Discounts and advances- Member bank borrowings 257 +123 - 60 469 Other 34 + 6 + 1 36 Float 2,907 +823 - 84 2,646 Total Reserve Bank credit 40,175 +3^+3 +3,135 40,234 Gold stock 15,387 - l - 165 15,388 Treasury currency outstanding 5,4o4 + 2 - 182 5,391 60,966 +5^5 +2,787 61,013 Currency in circulation 39,834 + 91 +2,C82 39,974 Treasury cash holdings 6C8 + 15 + 213 612 Treasury deposits with F.R. Banks 978 - 46 + 75 ! 918 Foreign deposits with F.R. Banks l44 + 2 10 206 Other deposits with F. R. Banks 183 + 7 27 1 163 Other F. R. accounts (net) 1,057 - 49 - 151 ! 993 14-2,805 + 21 +2,183 ; 42,866 Member bank reserves: With Federal Reserve Banks 18,160 +523 + 6o4 18,147 Currency and coin (estimated) 3,690 - 58 + 245 4,0C7 Total reserves held 21,850 +465 + 849 22,154 Required reserves (estimated) 21, 401 +4o4 + 874 21,424 Excess reserves (estimated) 449 + 61 - 25 1 730 On December 23, 196*4-, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,536 million, an increase of $168 million for the week and a decrease of $l62 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 Dec- 23, Dec. 167^ Dec. 25, 1964 _ 1964 1963, A S S E TS Gold certificate account 13,506 - 13 - 318 Redemption fund for F. R. notes 1,569 + 9 + __166 T~5 Total_gold certificate rese ryes 15,075 - 152 # Cash (*9D 114 - 4 - 68 Discounts and advances 505 +278 + 246 Acceptances: Bought outright 53 + 2 9 Held under repurchase agreements -- -- 59 U. S. Government securities: Bought outright-- Bills 6,156 -289 +2,044 Certificates — -- -7,066 Notes 25,188 -- +7,459 Bonds 5,274 -- + 629 Total "bought outright 3676I8 -289 +3,066 Held under repurchase agreements 412 + 38 + 292 Total U. S. Government securities 37,030 -251 +37358" Total loans and securities 37,588 + 29 +3,536 Cash items in process of collection (1^73) 7,605 -287 + 720 Bank premises 103 + 1 -- Other assets 676 + 71 + 3^2 TOTAL ASSETS (1,964) 61,161 -194 +4,378 L I A B I L I T I ES Federal Reserve notes (491) 3^ 996 +153 +2,413 Deposits: Member "bank reserves 18,147 +214 + 812 U. 3. Treasurer--general account 918 -152 + 30 Foreign 206 + 85 + 68 Other 163 - 12 - 57 Total deposits_ 19,434 +135 + 853 Deferred availability cash items (1A73) 4,959 -499 + 990 Other liabilities and accrued dividends 130 - 6 + 30 TOTAL LIABILITIES (1,964) 59,519 -217 +4,286 C A P I T AL A C C O U N TS Capital paid in 522 -- + 26 Surplus 990 -- + 56 Other capital accounts 130 + 23 + 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,964) 61,161 -194 +4,37^ 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) 27.k<f -.2/0 - 2.1$ 0 Contingent liability on acceptances purchased for foreign correspondents 124 — + 29 * Figures in parentheses are the eliminations made in the consolidating process; _see comparable figures on combined basis on the following pages. " ""MATURITY DTRTRtRUTTON OF LOANS ANT) SF.fJITRTTTF.n. DECEMBER 2^ 1Q64 (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 v Within 15 days Wj2 55 1,344 " +112 16 days to 90 days 33 7 3,^97 - 77 91 days to 1 year 16,591 -286 Over 1 year to 5 years 13,506 — Over 5 years to 10 years 1,797 — Over 10 years — — 295 -- Total 505 53 37,030 -251 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.fc.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 23, 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 dol].a rs) A S S E TS Gold certificate account 13,506 717 3,420 728 i,o64 1,024 725 2,l6l 522 263 500 567 1,815 Redemption fund for F. R. notes 1,569 90 355 86 137 133 95 287 63 28 62 51 182 Total gold certificate reserves 15,075 807 3,775 8l4 1,201 1,157 820 2,448 585 291 562 618 1,997 F. R. notes of other Banks 491 29 161 28 29 34 43 4l 21 21 14 26 44 Other cash 114 5 21 2 8 10 10 22 5 4 5 4 18 Discounts and advances 505 76 122 5 14 14 12 101 4 9 31 29 88 Acceptances: Bought outright 53 53 U. S. Government securities: Bought outright-- Bills 6,156 336 1,^59 338 513 437 348 1,059 24o 120 235 230 841 Certificates Notes 25,188 1,37^ 5,966 1,384 2,101 1,788 1,422 4,333 981 491 962 943 3,443 Bonds 5,274 288 1,249 289 440 374 298 907 206 103 201 198 721 Total 36,618 1,998 8,674 2,011 3,054 2,599 2,068 6,299 1,427 714 1,398 1,371 5,005 Held under repurchase agreements 412 412 Total U. S. Government securities 37,030 1,998 9,086 2,011 3,054 2,599 2,068 6,299 1,427 7l4 1,398 1,371 5,005 Total loans and securities 137,588 2,074 9,261 2,016 3,068 2,613 2,080 6,400 1,431 723 1,429 1,400 5,093 Cash items in process of collection 9,078 615 1,711 532 682 688 698 1,439 465 263 631 450 904 Bank premises 103 3 8 3 6 5 19 22 6 4 6 11 10 Other assets 676 3k 174 37 60 38 38 102 24 14 31 34 90 TOTAL ASSETS 63,125 3,567 15,111 3,432 5,054 4,545 3,708 10,474 2,537 1,320 2,678 2,543 8,156 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 23, 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 nates 35,487 2,091 8,289 2,087 3,029 3,021 2,087 6,411 1,418 633 1,351 1,091 3,979 Deposits: Member bank reserves 18,147 768 5,003 737 1,251 845 924 2,619 672 412 810 970 3,136 U.S. Treasurer-general account 918 82 108 64 74 107 76 109 59 42 63 53 81 Foreign 206 9 10 16 9 10 26 6 4 8 10 24 Other 163 1 92 3 13 12 1 1 3 1 54 Total deposits 19,434 860 5,277 814 1,342 964 1,011 2,756 738 459 884 1,034 3,295 Deferred availability cash items 6,432 532 1,080 525 469 507 1,049 319 188 366 319 645 Other liabilities and accrued 6 dividends !.,.. 130, i ._3jt_ 7 11 8 7 22 5 3 5 5 17 TOTAL LIABILITIES 161,483 t 3,^89 14,680 3,3*H 4,907 4,462 3,612 10,238 2,480 1,283 2,6c6 2,449 7,936 CAPITAL ACCOUNTS Capital paid in 522 25 137 29 47 26 31 74 18 12 23 30 70 Surplus 990 47 264 55 90 ^9 56 140 3^ 23 ^3 57 132 Other capital accounts 130 6 30 7 10 8 9 22 5 2 6 7 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 63,125 3,567 I5,m 3,^32 5,054 4,545 3,708 10,474 2,537 1,320 2,678 2,5^3 8,156 Contingent liability on acc ept ances purchased for fore^ ign c orre spondent s 124 6 2/33 .7... 11 6 1... 18 4 3..,_ 5_ __ 1 .12__ FEDERAL RESERVE AGEMT'S ACCOUNTS P. R. notes outstanding 37,142 2,149 8,748 2,142 3,212 3,113 2,196 6,681 1,488 653 1,400 1,165 M95 Collateral for F. R. notes: Gold certificate account 6,677 410 1,730 450 500 615 3to 1,100 280 112 225 180 735 Eligible paper 16 1 12 3 U. S. Government securities 31,415 1,765 7,200 1,800 2,775 2,520 1,900 5,700 1,260 1.200 1,050 ^5.700 Total collateral 38,108 2,175 .8,930 2,251 3,275 3,lV7 2,240 6,800 1,5^3 657 1,^25 1,230 M35 L J 1/ After deducting $132 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $ 91 millionp articipations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis