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.IKI* January ik, 1965 The average of daily figures of total member bank reserves held during the week ended January 13 decreased $355 million to $21,845 million. Estimated currency and coin of member hanks decreased $16 million and their reserve balances at the Federal Reserve Banks decreased $339 million. Estimated required reserves decreased $57$ million; and estimated excess reserves increased $221 million to $577 million. Excess reserves* exceeded member bank borrowings at the Federal Reserve Banks by $153 million, qompared with the revised figure of $47 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $473 million in Federal Reserve float, $242 million in U. S. Government securities held under repurchase agreements, and $58 million in gold stock, and an increase of $106 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $115 million in member bank borrowings,and decreases of $243 million in currency in circulation, $78 million in "other" deposits with Federal Reserve Banks, and $56 million in "other" F. R. accounts (net), and $42 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $589 million. As of Wednesday, January 13, holdings of U* S. Government securities bought outright were $45 million lower than a week earlier, U. S. Government secu rities held under repurchase agreements were $463 million lower, and member bank borrowings were $160 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 13, Jan. 6, Jan. 15, Jan- 13, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account •36,515 +3,177 36,482 Held under repurchase agreements 301 -242 + 145 42 Acceptances— Bought outright 55 - 3 - 17 1 56 Held under repurchase agreements 42 + 8 • 25 45 Discounts and advances-- Member bank borrowings 424 +115 + 63 147 Other 36 + 5 + 3 45 Float 2,l49 -473 - 5^ 1,780 Total Reserve Bank credit 39,522 ^9 +3,291 38,597 Gold stock 15,330 - 58 - 183 15,188 Treasury currency outstanding 5,394 - 12 - 190 5,388 60,247 +2,920 ^59 59,173 Currency in circulation 39,282 -243 +2,299 39,143 Treasury cash holdings 649 - 7 + 243 671 Treasury deposits with F. R. Banks 780 +106 - 253 979 Foreign deposits with P. R. Banks 186 - 42 + 19 214 Other deposits with P. R. Banks 205 - 78 8 206 Other F. R. accounts (net) 970 - 56 - 92 872 42,073 -319 +2,209 42,085 Member bank reserves: With Federal Reserve Banks 18,174 -339 + 711 17,088 Currency and coin (estimated) 3,671 - 16 + 229 4,081 Total reserves held 21,845 -355 + 940 21,169 Required reserves (estimated) 21,268 -576 + 963 21,205 Excess reserves (estimated) 577 +221 - 23 1 -36 On January 13, I965, U* S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,^78 million, an increase of $7 million for the week and a decrease of $134 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 \xix UI±±±±UL Change Since Jan. 13, Jan. 6, Jan. 15, 1965, 1965 1964 A S S E TS Gold certificate account 13,304 - 201 - 505 Redemption fund for F; R. notes 1,564 6 + 144 Total gold certificate reserves 14,868 •- 207 - 3^1 <£ Cash (7fi0) 161 + 15 - 102 Discounts and advances 192 - 145 + 98 Acceptances: Bought outright 56 -- 15 Held under repurchase agreements 45 12 7 U. S. Government securities: Bought outright-- Bills 6,020 45 +2,138 Certificates -.- -7,066 _ mi Notes 25,lSP -- +7,459 Bonds 5,274 -- + 629 Total bought outright 367W - 45 +3,160 Held under repurchase agreements 42 - 463 - 55 Total U. S. Government securities 36,524 ;LJ£§ +3,105 Total loans and securities 36,817 - 64i +3,181 Cash items in process of collection (1,432) 6,796 358 - 57 Bank premises 102 __ 2 Other assets 75T + 161 + 310 TOTAL ASSETS (2,212) 59,501 -1,030 +2,969 L I A B I L I T I ES Federal Reserve notes (78C) 34,267 24l +2,568 Deposits: Member hank reserves 17,088 -1,455 - 294 U. S. Treasurer--general account 979 + 487 - 17 Foreign 2l4 - 15 + 59 Other (**) 206 + 5 - 13 Total deposits (**) 1871^7 - 978 - 2S5 Deferred availability cash items (1,432) 5,016 + 166 + 549 Other liabilities and accrued dividends 639 __ + 558 TOTAL LIABILITIES (2,212) 5M°9 -1,053 +3,4iO C A P I T AL A C C O U N TS Capital paid in 524 -.-, + 25 Surplus 524 «.- - 466 Other capital accounts 44 + 23 -- TOTAL LIABILITIES AND CAPITAL ACCOlM PS (2,212) 59,501 -1,030 +2,969 Ratio of gold certificate reserves to de; posit and F. R. note liabilities combined (com puted from figures as shown on the fo3 lowing pages--not consolidated) 27.8$ .2$ - 2.0$ Contingent liability on acceptances purchased for foreign correspondents 124 + 1 + 32 * Figures in parentheses are the eliminations made :i n the consolidating process; jsee comparable figures on combined basis en the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 13, 1965 (Acceptances and' securities field uiKler repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S< . Government is ecurities Discounts and Changes advances Acceptances Holdings dii ring week Within 15 days ±k6 60 953 -4c8 16 days to 90 days 1+6 4l 3,4 15 -152 91 days to 1 year -- 16,558 + 52 Over 1 year to 5 years -- 13, 506 -- Over 5 years to 10 years 1,7 97 __ Cr/er 10 years -- 295 --. Total 192 101 3^7" 524 ^5oH ** Less than $5C0,G0C. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(D) STATEMENT OF CONIITION OF EACH FEDERAL RESERVE BANK ON JANUARY 13, I965 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco (in millions3 of dol]. ars) i A S S E TS I Gold certificate account I3,30lf 670 3,265 682 1,030 924 755 2,4l6 472 279 588 579 1,644 Redemption fund for F. R. notes 1,56^ 1 90 353 86 137 130 95 287 63 29 62 51 181 Total gold certificate reserves 1 1^866 1 760 3,618 768 1,167 1,054 850 2,703 535 306 650 630 1,825 F. R. notes of other Banks 1 780 59 212 54 56 66 77 72 36 23 15 38 72 Other cash 1 161 9 30 4 13 12 16 30 7 4 8 5 23 Discounts and advances ! 192 21 36 3 10 3 5 77 4 6 8 3 16 Acceptances: Bought outright 56 -- 56 -- __ __ __ -- -- -- -- --. Held under repurchase agreements *5 ^5 U< S. Government securities; Bought outright-- Bills 6,020 323 l, 46o 332 509 434 3^0 995 24l 125 240 232 789 Certificates — -- -- -- __ -- -- .-- -- --. Notes 25,188 1,3^9 6,107 1,390 2,131 1,815 1,423 4,165 1,006 522 1,005 972 3,303 Bonds 282 1,279 291 446 380 298 8J2 211 109 210 204 692 Total 36,^82 "1,95^" 6,846 2,013 3,086 2,629 2,06l 6,032 1A58 756 1,^55 1,408 4,784 Held under repurchase agreements k-2 -- 42 -- -- -- -- -- «._ _«. _- -- Total U. S. Government securities 36,524 1,954 8,886 2,013 3,086 2,629 2,061 6 032 1,458 756 _l,i£I_ i,4c6 4.784 ? Total loans and securities 36,817 1,975 9,025 2,016 3,096 2,632 2,c66 6,109 1,462 762 1,^63 i,4n 4,800 Cash items in process of collection 8,228 5^5 1,503 482 556 621 720 1,280 419 250 535 427 890 Bank premises 102 3 8 3 6 5 18 22 6 4 6 11 10 Other assets 757 37 192 42 67 45 44 112 28 17 35 38 100 TOTAL ASSETS 61,713 3,388 14,588 3,369 4,96l M35 3,791 10,328 2,493 1,368 2,712 2,560 7,720 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(e) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 13, 1965 I 1 ~ San New Phila Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago .Dallas Fran York delphia land mend Louis apolis City cisco (In millions; of dollars) L I A B I L I T I ES Federal Reserve notes 35,047 2,073 8,163 2,059 2,990 2,992 2,052 6,334 1,401 630 1,341 1,08C 3,932 Deposits: Member bank reserves 17,088 680 4,578 747 1,207 784 974 2,581 645 424 836 946 2,684 U.S. Treasurer-general ac: count 979 51 135 62 96 58 68 101 61 63 81 129 Foreign 214 9 1/74 11 17 10 11 27 6 4 9 11 25 Other 206 136 # 1 6 2 2 l l 3 1 53 Total deposits 18,487 740 4,923 820 1,321 858 1,055 2,711 713 492 922 1,041 2,891 Deferred availability cash items 6,448 492 1,052 394 495 495 583 1,033 318 205 373 341 667 Other liabilities and accn.t ed dividends 639 31 165 35 57 35 37 93 23 16 28 3^ 84 TOTAL LIABILITIES 60,621 3,336 14,303 3,308 " 4,863 4,380 3,727 10,171 2,455 1,343 2,664 2,497 7,574 CAPITAL 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 44 1 2 11 3 4 3 2 7 2 l 2 1 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,713 3,388 14,588 3,369 4,961 4,4 35 3,791 10,328 2,493 1,368 2,712 2,560 7,720 Contingent liability on ac:ee ptances purchased for forei _ correspondents ; 124 ; 6_ ^33 7_ 11_ 6__ 7_ 1§__ i- 3_ 5_ 7_ 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,710 2,131 3,214 3,H3 ?,198 "STfoT 1,480 W 1,395 1,161 4,lt>2 Collateral for F. R. notes: Gold certificate account 1,730 450 500 615 340 1,100 280 225 18C 735 112 Eligible paper * 2 U. S. Government securities 7,200 1,8CC 2,775 ?,535 1,90-0 5,7CQ 1,260 545 1,200 1,050 3,700 Total collateral 8,930 2,250 3,275 3,150 2,240 6,800 1,542 657 1,425 1,230 4,435 1/ After deducting $l4o million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 91 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis