H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••<s>£g&U F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks p r immediate release 0 January 7> 1965 The average of daily figures of total member bank reserves held during the week ended January 6 increased $244 million to $22,237 million. Estimated currency and coin of member banks increased $69 million and their reserve balances at the Federal Reserve Banks increased $175 million. Estimated required reserves increased $352 million; and estimated excess reserves decreased $108 million to $444 million. Excess reserves exceeded member bank borrowings at the Federal- Reserve Eanks by $135 million, compared with the revised figure of $48 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $177 million in U. S. Government securities held under repurchase agreements and $32 million in acceptances held under repurchase agreements, and decreases of $327 million in currency in circulation and $316 mil lion in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $262 million in Federal Reserve float, $195 million in member bank borrowings, and $55 million in U. S. Government securities bought out right, and increases of $106 million in "other" deposits with Federal Reserve Banks, $36 million in Treasury cash holdings, and $30 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $298 million. As of Wednesday, January 6, holdings of U. S. Government securities bought outright were $21 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $248 million higher, and member bank borrow ings were $20 million lower. Averages of daij^ ?gures Member bank reserves, Week ended Change from 3k ended Wednesday, Reserve Bank credit, Jan. 6, Dec. 30, Jan. 8, Jan. 6, and related items 1965 1964 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account. 36,515 - 55 +2,984 36,527 Held under repurchase agreements 543 +177 + 376 505 Acceptances- Bought outright 58 + 5 - 13 56 Held under repurchase agreements 34 + 32 • 46 33 Discounts and advances- Member bank borrowings 309 -195 - 55 307 Other 31 -- 1 30 Float 2,622 -262 + 161 1 2,304 Total Reserve Bank credit 40,111 ^298 +37^05 39,762 Gold stock 15,388 -- - 125 11 15,388 Treasury currency outstanding 5,4c6 + 9 - 176 , 5,409 So79o5 -288 +3,105 60,559 Currency in circulation 39,525 -327 +2,219 | 39,^28 Treasury cash holdings 656 + 36 + 25^ 1 656 Treasury deposits with F. R. Banks 674 -316 - 292 ! ^92 Foreign deposits with F. R. Banks 228 + 7 + 60 229 Other deposits with F. R. Banks 283 +106 + 78 201 Other F. R. accounts (net) 1,026 + 30 - 44 1,010 42,392 -4"64 +2,276 42,016 Member bank reserves: With Federal Reserve Banks 18,513 +175 + 828 18,5^3 Currency and coin (estimated) 3,724 + 69 + 240 3,967 Total reserves held 22,237 +244 +1,068 22,510 Required reserves (estimated) 21,793 +352 +1,087 21,652 Excess reserves (estimated) 444 -108 - 19 858 Cn January 6, 1965, U. S. Government securities held in custody by the Federal Reserve Eaiiks for foreign account were $8,471' million, a decrease of $44 million for the week and a decrease of $171 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.^.l(a) CONSOLIDATED STATEMENT OF CONDITION OF TfiE TWELVEJFEDERAL RESERVE BANKS (in millions of dollars) Change since Jan * 6, £ec. 36> Jan. 8, 1965 1964 1964 A S S E TS Gold certificate account 13,505 — - 304 Redemption fund for F. R. notes 1,570 + 146 Total gold certificate reserves - 158 15,075 Cash (74o) 146 + 15 - 83 Discounts and advances 337 - 20 + 12 Acceptances: Bought outright 56 • 15 Held under repurchase agreements 33 + 23 • 4i U. S. Government securities: Bought outright— Bills 6,065 + 21 +2,164 Certificates -7,066 Notes 25,188 +7,^59 Bonds 5,27^ + 629 Total bought outright 36752? +~21 +3,186 Held under repurchase agreements 505 +248 + 353 Total U» S* Government securities 37,032 +259 +3,539 Total loans and securities 37,458 +272 +3,^95 Cash items in process of collection (1,^93) 7,15^ +137 + 927 Bank premises 102 - 1 2 Other assets 596 + 170 - 29 TOTAL ASSETS (2,233) 60,531 +4,349 +l9"4~ L I A B I L I T I ES Federal Reserve note is (7*K>) 3^,508 -323 +2,552 Deposits: Member bank reserves 18,5^3 +717 +1,648 U. S. Treasurer--general account 492 -262 - 590 Foreign 229 + 1 + 58 Other 201 + 13 - 13 Total deposits 19,465 +w +1,103 Deferred availability cash items UA93) 4,850 +335 + 579 Other liabilities and accrued dividends 639 +509 + 555 TOTAL LIABILITIES (2,233) 59,462 +990 +4,789 9. it* l it It A C C O U N TS Capital paid in ~ 524 + 27 Surplus 524 -466 - 466 Other capital accounts 21 -130 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,233) 60,531 +394" +T^W 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) 27.6$ -.1$ - 2.3$ Contingent liability on acceptances purchased for foreign correspondents 123 -- + 35 * Figures in parentheses are the eliminations made in the consolidating process; gee comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 6, 1965 (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 Holding^s_ during week Within 15 days 330066 ^^55 11,,336611 +225 16 days to 90 days 3311 khkk 33,.556677 + kk 91 days to 1 year — ~- 16,506 Over 1 year to 5 years -- 13,506 Over 5 years to 10 yeaLrTsS -- 1,797 Over 10 years " -- 295 Total 337 59 37,032 +2^9 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN JANUARY 6, 1965 San New Phila Cleve Rich- St. Minne- Kansas Total Boston York delphia land mend Atlanta Chicago Louis apolis City Dallas Fran cisco "(In millions of dollars) A S S E TS Gold certificate account 13,505! 738 3,48l 683 986 933 745 2,261 560 283 56l 505 1,769 Redemption fund for F. R. notes 1,570; 90 355 138 133 95 287 63 28 62 51 182 Total gold certificate reserves 15,075 828 3,836 769 1,124 1,066 840 2,5^8 623 311 623 556 1,951 F. R* notes of ether Banks 74o! 53 194 53 51 59 77 68 34 29 16 36 70 Other cash 146 9 25 4 11 12 14 27 6 5 7 4 22 Discounts and advances ee 67 44 81 16 25 14 3371 Acceptances: Bought outright 56 Held under repurchase agreements 33 33' U. S. Government securities: Bought outright-- Bills 6,065j 319 1,444 335 521 438 330 1,053 228 121 237 24c 799 Certificates Notes 25,1881 1,325 5,994 1,392 2,163 1,818 1,372 4,373 948 504 984 998 3,317 Bonds 5,2741 277 1,255 291 453 381 287 916 199 106 2C6 209 694 Total 36,527^ 1,921 8,693 2,018 3,137 2,637 1,989 6,342 1,375 731 1,427 1,447 4,810 Held under repurchase agreements 5051 505 j " •" ' Total U. S> Government securities 37,032j 1,921 9,198 2,018 3,137 2,637. 1,989 6,3*2 1,375 731 1,427 1,447 4,81c Total loans and securities 37,458j 1,989 9,354 2,026 3,142 2,681 1,993 6,423 1,378 747 1,452 1,449 4,824 Cash items in process of collection 8,647 564 1,687 459 581 587 724 1,319 407 274 560 501 984 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 596 30 150 33 53 36 33 91 22 12 28 29 TOTAL ASSETS 62,764 3,476 15,254 3,347 4,968 4,446 3,699 10,498 2,476 1,382 2,692 2,586 7,940 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 JANUARY 6, 1965 San J Total |Bo ston New 1 Fhila- Cleve-j Rich Atlanta Chicago St. Minne Kansas Dallas Fran York Idelphia land j mond Louis apolis City 1 cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes [ 35,21*8 2,080 8,219 2,070 3,coc 3,005 2,073 6,370 1,407 631 1,3^6 1,086 3,961 Deposits: Member bank reserves | 18,543 766 5,299 752 1,251 83I 928 2,792 657 445 855 1,005 2,962 U.S. Treasurer-general account 492 33 84 41 50 43 31 39 35 43 49 29 15 Foreign ! 229 10 1/19 11 19 10 11 29 7 5 9 12 27 Other ! _ 201 * 126 1 * 6 1 l 1 4 1 60 Total deposits j 19,^65 809 5,588 805 1,320 890 971 2,861 700 493 917 1,047 3,064 Deferred availability cash items : 6,343 506 998 378 496 463 555 1,020 310 218 355 356 688 Other liabilities and accrued dividends .. £32. [ 3Q 170 35 56 3^ 37 94 22 15 27 35 84 TOTAL LIABILITIES * 61,695 3,^5 1^,975 3,288 4,872 4,392 3,636 10,345 2,439 1,357 2,645 2,524 7,797 CAPPTAL ACCOUNTS —, Capital paid in 524 25 137 29 47 26 31 75 18 12 23 31 70 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 21 | 1 5 1 2 2 1 3 1 1 l 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 62,764 ,.3Jil6_ J^25JL_ 3,347 4,968 4,446 „3,699 .1 0,498 2,476 1,382,,. 2,692 2,566 7,940 Contingent liability on accept ances purchased for foreign c orre spondent s ] 123 ' 6 2/33 T 11 6 7 17 4 3 5 7 17 FEDERAL RESERVE AGEIff'S ACCOUNTS F. R. notes outstanding j 37A82 I 2,168 8,729 2,135 3,219 3,120 2,196 6,716 1,484 651 1,401 1,167 4,196 Collateral for P. E. notes: j Gold certificate account j 6,687 420 1,730 450 500 615 340 1,100 280 112 225 180 735 Eligible paper 8 6 2 U. S. Government securities j 31,430 1,765 7,2C0 1,800 2,775 2,535 1,900 5,7CO 1,260 5^5 1,200 _3,7QQ Total collateral j 38,125 2,185 8,930 2,256 3,275 3,150 2,240 6,8co 1,542 657 1,425 1,230 4,435 1/ After deducting $150 million participations ofo ther Federal Reserve Banks, * Less than $500,000. 2/ After deducting $ 90 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis