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 v ?f^fp^- Condition Statement of F.R. Banks For immediate release H.4.1'" January 21, 1965 The average of daily figures of total member bank reserves held during the week ended January 20 decreased $432 million to $21,413 million. Estimated currency and coin of member banks decreased $55 million and their reserve balances at the Federal Reserve Banks decreased $377 million. Estimated required reserves decreased $185 million; and estimated excess reserves decreased $247 million to $342 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $65 million, compared with the revised figure of $165 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $244 million in U. S. Government securities held under repurchase agreements, $147 million in member bank borrowings, $143 million in gold stock, and $112 million in U. S. Government securities bought outright, and an increase of $235 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $100 million in Federal Reserve float, and decreases of $355 million in currency in circulation and $68 million in "other" F. R. accounts (net). Total Reserve Eank credit decreased $410 million. As of Wednesday, January 20, holdings of U. S. Government securities bought outright were $223 million lowef than a week earlier, U. S. Government securities held under repurchase agreements were $16 million lower, and member bank borrowings were $106 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 20, Jan. 13, Jan. 22, Jan. 20, and related items 1965 1965 1964 1965 "(in millions of dollars7 Reserve Bank credit: U. S. Government securities-- Bought outright--System account 36,403 -112 +3,^59 36,259 Held under repurchase agreements 57 -244 + 57 26 Acceptances-- Bought outright 56 + i • 15 56 Held under repurchase agreements 25 - 17 - 20 30 Discounts and advances-- Member bank borrowings 277 -147 + 113 41 Other 45 + 9 + 11 45 Float 2,249 +100 - 116 1,935 Total Reserve Bank credit 39,112 "^4To +T74~B9 3^7392 Gold stock 15,187 -143 - 326 15,188 Treasury currency outstanding 5,393 - 1 - 193 _5,394 59,693 ^^ +2,971 5B79T4 Currency in circulation 38,927 -355 +2,237 38,817 Treasury cash holdings 662 + 13 + 246 664 Treasury deposits with F. R. Banks 1,015 +235 - 29 1,098 Foreign deposits with F. R. Banks 178 - 8 + 30 177 Other deposits with F. R. Banks 212 + 7 4 207 Other F. R. accounts (net) 902 - 68 - 157 896 41,896 -177 +2,324" ¥17859 Member bank reserves: With Federal Reserve Banks 17,797 -377 + 648 17,115 Currency and coin (estimated) _3z616 - 55 + 302 _3,948 Total reserves held 21,513 ^4~32" + 950 21^053 Required reserves (estimated) 21,071 -185 + 897 21,I96 Excess reserves (estimated) 342 -247 + 53 - 133 On January 20, I965, U. S. Government securities held in custody by the Federal Reserve £anks for foreign account were $8,187 million, a decrease of $291 million for the week and a decrease of $456 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 (In millioks of dollars) Change since Jan. 20, Jan. 13; Jan. 22, 1965 1965 196k A S S E TS Gold certificate account 13,317 + 13 - kRi Redemption fund for P. R; notes 1>563 - 1 + 1^5 Total gold certificate reserves JA^PBv + 12 - 3^ Cash ' (880) 178 + 17 - ic-8 Discounts and advances 86 -106 - 262 Acceptances: Bought outright 5^ 13 Held under repurchase agreements 30 - 15 3 U. S. G6vernment securities: Bought outright-- Bills 5,191 -223 +2,5^1 Certificates -7.C66 Notes 25,188 +7,^59 Bonds 5,27^ + 629 Total bought outright 36,259 -223 +3,563 Held under repurchase agreements 26 - l6 + 26 Total U. S. Government securities 35,285 -239 +3,5^9 Total loans and securities 36,^57 -360 +3,317 Cash items in process of collection (1,621) 6,883 +87 + 683 Bank premises 103 + 1 - 1 Other assets 7^9 - 8 + 278 TOTAL ASSETS (2,50l) 59,250 -251 +3,827 L I A B I L I T I ES Federal Reserve notes (880) 33,957 -310 +2,556 Deposits: Member bank reserves 17,115 + 27 + 568 U. S- Treasurer--general account 1,098 +119 + 62 Foreign 177 - 37 + 30 Other (**) 207 + 1 - 3 Total deposits (**) 18,597 +110 4- 657 Deferred availability cash items (1,621) ^,9^8 - 68 + 496 Other liabilities and accrued dividends 633 - 6 + 55I1 TOTAL LIABILITIES (2,501) 5^,135 -27^ +^,263 C A P I T AL A C C O U N TS Capital paid in ~ 524 + 2S Surplus 524 - k66 Other capital accounts 67 + 23 + 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,5Cl) 5°, 250 -251 +3 ,827 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) 27-8$ - 2.6$ 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 on the following pages. MATURITY "DISTRIBUTION OF L0ANS~AND SECURITIES, JANUARY 20, 1 9^ (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 advance >s Accep,t ances Holdings during week ko Tl5 1,0*3 Within 15 days to 2|5~ 1,083 4-130 16 days to 90 days k k 6 6 k h l i 33,1,15533 -262 91 days to 1 year -- - - -- - - 161,64,5415 1 -107 Over 1 year to 5 years -- 13^06 Over 5 years to 10 yeaxrss — 1,797 Over 10 years -- -~ 295 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 JANUARY 20, I965 SaxT " Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mond Louis apolis City « cisco (In millions3 of dollars) A S S E TS Gold certificate account 13,317 621 3,320 69c 1,060 949 759 2,257 523 272 612 5C9 1,745 Redemption fund for F. R. notes 1,563 90 352 87 137 130 95 286 63 29 62 51 181 Total gold certificate reserves 14,880 711 3,672 777 1,197 1,079 854 2,543 586 301 674 56C 1,926 F. R. notes of other Banks 880 69 226 68 68 71 86 79 39 24 19 44 87 Other cash 178 11 38 6 14 12 17 29 7 5 9 6 24 Discounts and advances 36 3 16 5 6 6 4 13 3 5 6 3 16 Acceptances: Bought outright 56 -- 56 -- — _- -- -- -~ -- --» - - Held under repurchase agreements 30 — 30 — -- -~ -«. -- -- -- U. S. Government securities: Bought outright— Bills 5,797 310 1,399 315 486 4i6 309 975 220 120 232 231 784 Certificates -- — — -- -- -- — -- ..- _- -- --. __ 1 Notes 25,168 1,3^ 6,077 1,369 2,110 1,807 i,34o 4,238 955 523 1,007 l, cc6 3,4c8 Bonds 1 5,274 283 1,272 287 442 379 280 887 2C0 109 21c 211 714 Total 36,259 1,941 8,748 1,971 3,038 2,602 1,929 6,100 1,375 752 1,449 1,448 4,906 Held under repurchase agreements 26 26 — -- -- -- — -- -- — __ -- Total U. S» Government securities 36,285 1,9^1 8,77^ 1,971 3,038 2,6C2 1,929 6,ico 1,375 752 1,449 1,448 4,906 Total loans and securities 36,457 1,944 8,876 1,976 3,C44 2,6c8 1,933 6,113 1,378 757 1,455 1,451 4,922 Cash items in process of collection 8,504 566 1,655 488 603 662 789 1,315 391 252 521 4i8 844 Bank premises 103 3 8 3 6 5 19 22 6 4 6 11 10 Other assets 749 36 189 4i 66 45 42 113 27 17 3^ 38 101 TOTAL ASSETS 6l,75l 3,34o 14,664 3,359 4,998 4,482 3,740 10,214 2,434 1,360 2,718 2,528 7,914 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEIERAL RESERVE BANK ON JANUARY 20, 1965 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas 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 34,837 2,062 8,115 2,058 2,979 2,979 2,034 6,297 1,391 628 1,332 1,076 3,886 Deposits: Member "bank reserves 17,115 602 4,588 703 1,229 797 952 2,479 635 418 843 958 2,911 U.S. Treasurer-general account 1,098 73 166 86 88 84 66 105 61 60 96 75 138 Foreign 177 8 1/51 10 15 6 10 24 6 4 8 10 23 Other 207 * 127 1 17 3 3 -* 1 61 Total deposits 18,597 663 4,932 800 1,333 896 1,031 2,611 702 482 950 1,044 3,133 Deferred availability cash items 6,569 512 1,161 404 530 516 574 1,052 280 210 359 309 662 Other liabilities and accrued dividends 633 30 165 35 56 34 36 93 22 15 28 35 84 TOTAL LIABILITIES 60,636 3,287 14,373 3,297 4,898 4,425 3,675 10,053 2,395 1,335 2,669 2,464 7,765 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 67 3 17 4 6 5 3 11 3 1 3 2 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,751 3,3^0 14,664 3,359 4,998 4,482 3,740 10,214 2,434 1,360 2,718 2,528 7,914 Contingent liability on accept ances purchased for foreign correspondents 123 6 2/32 7 11 6 7 17 4 2_ 6 7 17 FEDERAL RESERVE AGEHT'S ACCOUNTS F. R. notes outstanding "87665 27120 372C^~17l55 2^91 £J3T9 i7W5 5?8 1,393 1,161 £7i63 Collateral for F. R. notes: Gold certificate account 1,710 435 500 697 3^0 1,100 280 112 225 180 735 Eligible paper U. S. Government securities 7,200 1,8C0 2,775 2,427 1,900 5,700 1,260 545 1,200 1,050 "3,700,. Total collateral 8,910 2,238 3,275 3A24 2,2k) 6,800 l,5ifl 657 1,425 1,230 4,435 l/ After deducting $126 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