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.! December 31, 1964 The average of daily figures of total member bank reserves held during the week ended December 30 increased $183 million to $22,029 million. Estimated currency and coin of member banks increased $5 million and their reserve balances at the Federal Reserve Banks increased $178 million. Estimated required reserves decreased $17 million; and estimated excess reserves increased $200 million to $609 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $105 million, compared with the revised figure of $152 million the week before. The principal changes supplying average reserve balances with Federal He* serve Banks were increases of $247 million in member bank borrowings and $100 mil-' lion in U, S. Government securities held under repurchase agreements, and a decrease of $6l million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $90 million in U. S. Government securities bought outright and an increase of $77 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $234 million. As of Wednesday, December 30, holdings of U. S. Government securities bought outright were $112 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $155 million lower, and member bank borrowings were $142 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 30, Dec. 23, Jan. 1, Dec. 30, and related items 1964 1964 1964 1964 (In millions of dollars) Reserve Bank credit: U. S. Government securities~ Bought outright--System account 36,570 - 90 +3,007 36,5C6 Held under repurchase agreements 366 +100 + 274 257 Acceptances-- Bought outright 53 + 1 - 14 56 Held under repurchase agreements 2 + 2 • 86 10 Discounts and advances- Member bank borrowings 504 +247 327 Other 31 - 3 30 Flcat 2,884 2,502 1 23 Total Reserve Bank credit +23^ 39^BH Gold stock 15,388 + 1 15,388 Treasury currency outstanding 5,397 - 7 5,U05 61,19^ +228 "60T81 Currency in circulation 39,852 + 18 +2,122 39,775 Treasury cash holdings 620 + 12 + 239 642 Treasury deposits with F. R. Banks 990 + 12 + 63 75^ Foreign deposits with F. R. Banks 221 + 77 + 36 228 Other deposits with F. R. Banks 177 - 6 - 50 188 Other F. R. accounts (net) 996 - 61 - 146 w 1, , 0 m 67 42,856" +2,264" + 51 Member bank reserves: With Federal Reserve Banks 18,338 +178 + 685 17,826 Currency and coin (estimated) 3,691 + 5 - 105 4,368 Total reserves held 22,029 +I83 + 580 22,194 Required reserves (estimated) 21,420 - 17 + 757 1 21,5^5 Excess reserves (estimated) 609 +200 - 177 i 649 On December 30, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,515 million, a decrease of $21 million for the week and a decrease of $160 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS Change since Dec* 30, Dec! • 23, Dec. 31, 196U 1964 1963 A S S E TS Gold certificate account 13>505 ~ 1 - 314 Redemption fund for P. R. notes 1,570 + 1 + 152 Total gold certificate reserves 15.075 — - 152 Cash (6CO) 131 + 17 - 51 Discounts and advances 357 - 148 + 294 Acceptances: Bought outright 56 + 3 - 14 Held under repurchase agreements 10 + 10 • 82 U. S* Government securities: Bought outright-- Bills 6,okk * 112 +1,902 Certificates -- — -7,c66 Notes 25,188 — +7,459 Bonds 5,27^ — + 629 Total bought outright 36,506 - 112 +2,924 Held under repurchase agreements 257 - 155 + 246 Total U» S* Government securities 36,763 - 267 +3A70 Total loans and securities 37,186 - 402 +3,368 Cash items in process of collection (1^86) 7,017 - 588 + 582 Bank premises 103 -- 1 Other assets 625 - 51 + 225 TOTAL ASSETS (2,086) 60,137 -1, G2k +3,961 L I A B I L I T I ES Federal Reserve notes (600) 3M31 165 +2,450 Deposits: Member hank reserves 17,826 • 321 + 777 U. S. Treasurer--general account 75^ - 164 - 126 Foreign 228 + 22 + 57 Other 188 + 25 - 103 Total deposits 18,996 - ~^8" + 605 Deferred availability cash items <1,W6) 4,515 , khk + 680 Other liabilities and accrued dividends 130 -- + 48 TOTAL LIABILITIES (2,086) 587^72 -1 ,047 +3,783 C A P I T AL A C C O U N TS Capital paid in 524 2 27 Surplus 990 -- -- Other capital accounts 151 + 21 + 151 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,086) 60,13? ^I ,024 +3,961 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown en the fol lowing pages—not consolidated) 27.7$ .3$ - 2,0$ Contingent liability on acceptances purchased for foreign correspondents 123 1 + 31 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis en the following pages* % MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 30, 1955 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. Si Government securities Discounts and Changes advance? s _Ac^c_e_p_t_a_n^c_e_s. Holdings during week 325 20 1,136 Within 15 days 325 20 1,136 -208 16 days to 90 days 3322 kk66 33,,552233 + 26 .- .- 16,506 91 days to 1 year -- -- 16,506 - 35 Over 1 year to 5 years -- 13,506 Over 5 years to 10 yeairrss -- 1,797 Over 10 years „ -- 295 357 6S 36/FS3 Total ?57 ES T67^t ^2&7 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 DECEMBER 30, 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 13,505 726 3,399 712 1,055 948 726 2,262 560 280 586 520 1,731 Redemption fund for F. R. notes 1,570 90 355 86 138 133 95 287 63 28 63 51 181 Total gold certificate reserves 15,075 816 3,754 798 1,193 1,681 821 2,549 623 308 649 571 1,912 F. R. notes of other Banks 6co 4l 164 39 37 48 58 54 27 26 19 28 59 Other cash 131 7 25 4 9 12 12 25 6 4 5 3 19 Discounts and advances 357 48 160 20 3 4 12 53 4 14 22 16 Acceptances; Bought outright 56 -- 56 — __ -- -- -- — -- __ -- __ Held under repurchase agreements 10 — 10 -- __ -- -- -- -- U. S. Government securities: Bought outright-- Bills 6,okk 317 1,1*5 331 506 436 343 1,052 237 126 234 223 79^ Certificates -~ -- -- — — -- -- -- -- -- -- -- Notes 25,188 1,320 6,023 1,381 2,108 1,817 1,430 4,382 990 526 976 928 3,307 Bonds 5,274 276 1,261 290 44l 381 299 917 207 110 205 194 693 Total 36,506 1,913 8,729 2,002 3,055 2,634 2,072 6,351 1,434 762 1,^15 1,3^5 4,79^ Held under repurchase agreements 257 -- 257 -- -- -- __ -._ -- __ -- ~_ -.- Total U. S. Government securities 36,763 1,913 8,986 2,002 3,055 2,634 2,072 6,35,1 , 1,434 762 1,415 1,345 4,794 Total loans and securities 37,186 1,961 9,212 2,022 3,058 2,638 2,084 6,4o4 1,^38 763 1,1+29 1,367 4,810 Cash items in process of collection 8,503 634 1,666 465 630 609 663 1,335 385 239 566 449 842 Bank premises 103 3 8 3 6 5 19 22 6 4 6 11 10 Other assets 625 31 158 34 55 38 35 95 23 14 29 31 82 TOTAL ASSETS 62,223 3, ^93 15,007 3,365 4,988 ^,431 3,692 10,484 2,508 1,358 2,703 2,460 7,73^ 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 30, 1964 1 San Total Boston New Phila Cleve- Rich Atlanta 1 Chicago| •St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City ! 1 cisco (in millions of dollars) i L I A B I L I T I ES Federal Reserve notes 35,431 2,091 8,257 2,085 3,014 3,024 2,091 6,401 l,4i4 632 1,349 1,092 3,981 Deposits: Member bank reserves 17,826 764 4,987 739 1,219 8cc 972 2,679 677 443 856 919 2,771 U. S. Treasurer-general *a ccount 754 46 114 51 68 71 34 91 58 47 69 37 68 Foreign 228 11 1/67 12 20 11 12 31 7 5 10 13 29 Other 188 # 12 ^ 1 •* 4 1 2 1 1 3 52 Total deposits 18,996 821 5,291 803 1,307 886 1,019 2,803 743 496 938 969 2,920 Deferred availability cash items 6,001 496 989 377 506 427 478 1,019 289 189 339 299 593 Other liabilities and accriu ed dividends 130 6 33 7 13 9 7 21 5 3 5 5 16 TOTAL LIABILITIES 60,558 3,414 14,570 3,272 4,840 h,-ik6 3,595 10,244 2,451 1,320 2,631 2,365 7,510 CAPITAL ACCOUNTS Capital paid in 524 25 137 29 47 26 31 75 18 12 23 31 70 Surplus 990 47 264 55 90 49 56 140 23 h3 57 132 T Other capital accounts 151 1 36 9 11 10 10 25 3 6 7 22 V TOTAL LIABILITIES AND CAPITAL ACCOUNTS 62,223 3,493 15,007 3,365 _JbJ.88__ JbA31_ __i.i22_ 10,484 _2^08_ _i,35B_-_2J03_ 2,46o . 7,734 Contingent liability on ac<= eptances purchased for forei gn correspondents 123 6 -_j/32_ 7 11 6 7. 17 4 3 5. 7 17 ,. FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,737 2,139 3,222 3,128 2,203 6,730 1,487 652 l,4c6 1,169 4,203 Collateral for F. R. notes: Gold certificate account 1,730 450 500 661155 340 1,100 280 112 225 180 735 Eligible paper 18 3 3 U. S. Government securities 7,200 1,600 2,77.5„ 2,531 1,900 5,700 1,260 545 1.200 1,050 3,700 Total collateral 2,185 8,930 2,268 3,275 3,153 2,240 6,8co 1,543 657 1,425 1,230 4,435 1/ After deducting $l6l 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