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 January 28, 1965 The average of daily figures of total member bank reserves held during the week ended January 27 decreased $173 million to $21 266 million. Estimated ; currency and coin of member banks decreased $hh million and their reserve balances at the Federal Reserve Banks decreased $129 million. Estimated required reserves decreased $42 million; and estimated excess reserves decreased $131 million to $258 million. Excess reserves exceeded member bank borrowings at the Federal Re serve Banks by $55 million, compared with the revised figure of $112 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $^08 million in Federal Reserve float, $7^ million in member bank "borrowings, and $69 million in U. S. Government securities bought outright. The principal offsetting changes were an increase of $49 million in U. S. Government securities held under repurchase agreements and a decrease of $283 million in currency in circulation. Total Reserve Bank credit decreased $48l million* As of Wednesday, January 27, holdings of U. S. Government securities bought outright were $146 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $292 million higher, and member bank borrowings were $148 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 27, Jan. 20, Jan. 29, Jan. 27, and related items 1965 1965 1964 1965 (in millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 36,334 -69 +3,595 36,405 Held under repurchase agreements 106 + 49 + 106 318 Acceptances-- Bought outright 56 - -. - 11 57 Held under repurchase agreements 42 + 17 + 42 63 Discounts and advances- Member bank borrowings 203 - 74 + 26 189 Other 49 + 4 + 17 45 Float l,84i •408 + 77 1,534 Total Reserve Bank credit 38,631 T6l +3,851 38,611 Gold stock 15,187 -- - 325 15,188 Treasury currency outstanding 5,387 - 6 - 195 5,391 59,2C6 "^sT +3,333 59,190 Currency in circulation 38,644 -283 +2,280 38,6C0 Treasury cash holdings 657 - 5 + 247 676 Treasury deposits with F- R- Banks 997 - 18 + 128 I 907 Foreign deposits with F. R. Banks 151 - 27 + 10 133 Other deposits with F. R. Banks 213 + 1 + 5 194 Other F.R. accounts (net) 877 - 25 - 164 860 41,538 ^358 +2.50$ 41,370 Member bank reserves: With Federal Reserve Banks 17,668 -129 + 828 17,820 Currency and coin (estimated) 3,598 - 44 + 238 3,953 Total reserves held 21,266 -173 +1,066 21,773 Required reserves (estimated) 21,008 - 42 +1,181 21,088 m Excess reserves (estimated) 258 -131 - 115 | On January 27, I965, U. S, Government securities held in custody by the Federal Reserve Banks for foreign account were $8,188 million, an increase of $1 million for the week and a decrease of $607 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

I HA. 1(a) CCNSOLirATED STATEfffifft OF CONDITION OF THE TWELVE FEDEMi RESERVE BANKS (in millions of dollars) Change since _ Jan. 27, Jan. 20, Jan. 29> *n.*n* 196S 1965 1964 A S S E TS Gold certificate account 13,317 -- - 502 Redemption fund for F. R. notes 1,55^ - 2 * 1^2 Total gold certificate reserves ih] &J1 9 - 360 Cash (908) 179 + 1 131 Discounts and advances 2?>k + V& - 99 Acceptances: Bought outright 5 7 + 1 -9 Held under repurchase agreements 63 + 33 + &? U. S. Government securities: Bought outright-- Bills 5,9*6 + 1^6 +2,662 Certificates — -- ~7,066 Notes 25,188 — +7.459 Bonds 5.274 — + 629 Total bought outright 36,405 + 146 +3.684 Held under repurchase agreements 3l8 + 292 + 3lG Total U. S- Government securities 35,723 + 438 +^"002 Total loans and securities 37.077 + 620 +3.957 Cash items in process of collection (l.4l3) 5.852 -1.031 + 549 Bank premises 102 1 2 Other assets 8lo + 67 + 223 TOTAL ASSETS (2,32l) 5B7897 - 353 +4,236 L I A B I L I T I ES Federal Reserve notes (908) 33.747 - 210 +2.565 Deposits: Member hank reserves 17,820 + 705 +1,124 U. S. Treasurer--general account 907 - 191 + 60 Foreign 133 44 +3 Other ( -) 194 ^ 13 - 3 Total deposits (--) 19.05^ + 457 +1,184 Deferred availability cash items (l,4l3) 4,318 - 63O + 362 Other liabilities and accrued dividends 635 + 2 + 55^ TOTAL LIABILITIES (2,321) W/ffi - 3^1 +h,65$ C A P I T AL A C C O U N TS Capital paid in 528 4 + 27 Surplus 524 -- - 466 Other capital accounts 91 + 24 + JLO TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,321) 58,897 - 353 +57236 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) 27.7-; .l£ - 2.8£ Contingent liability en acceptances purchased fgE__fpreign correspondents 123 -- + 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 LOANS AMD SECURITIES, JANUARY 27. 19^5 (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 week Within 15 days 187 76 l>°o +3^0 16 days to 90 days k'J kk + 80 91 days to 1 year l6,k69 + 18 Over 1 year to 5 years 13,506 Over 5 years to 10 years 1,797 -- Orer 10 years 295 ~~ T^tal 235 120 3^77^3 -^38 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 27, I965 San Total Boston I New Phila Cleve- Rich Atlanta Chicago j St. Minne- Kansas Dallas j Fran- York delphia land mond Louis apolis City j cisco (In millions of dollars J A S S E TS Gold certificate account 13,317 684 3,079 682 1,011 1,009 730 2,211 550 300 6co 633 1,838 Redemption fund for F. R. notes 1,554 89 350 87 136 128 95 285 63 28 62 _5L 181 Total gold certificate reserves 15,871| 773 3,529 769 1,157 1,137 824 2,496 603 328 662 684 2,019 F. R. notes of other Banks 1 9081 76 237 62 72 71 93 74 55 25 19 1*6 88 Other cash 1791 11 38 5 15 12 17 28 8 5 9 6 25 Discounts and advances 1 234J 8 85 15 r 13 5 72 2 4 15 3 6 Acceptances: i Bought outright 1 i ?i — 57 — — — -- — — — — — — Held under repurchase agreements 63 U. S. Government securities: 63 i Bought outright-- Bills 5,953 i 320 1,448 320 496 1*08 327 1,022 224 117 223 223 815 Certificates Notes 1 25,100 1,360 6,136 1,355 2,102 1,731 1,386 5,330 951 498 942 942 3,455 Bonds ; 5,274 285 1,285 284 440 362 290 907 199 104 197 197 724 Total I 36,405 1,965 8,869 1,959 3,038 2,501 2,003 6,259 1,374 719 1,362 1,362 4,994 Held under repurchase agreements 318 318 Total U. S. Government securities 36,723 li2& 9,187 1,959 3,038 2,501 2,003 6,259 1,375 719 1,362 1.362 4,994 Total loans and securities 37,077 1,973 9,392 1,975 3,044 2,514 2,CC8 6,331 1,376 723 1,377 1,365 5, CCO Cash items in process of collection 7,265 489 1,363 557 536 550 619 1,146 342 223 461 382 707 Bank premises 102 3 8 3 6 5 19 21 6 4 6 11 IC Other assets 816 ko 204 44 71 46 46 124 29 18 ^7 4o 111— TOTAL ASSETS j 6l,218 3,365 15,671 3,315 4,891 5,325 3,626 10,220 2,4C9 1,326 2,571 2,534 7,966 _ i Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-A.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN JANUARY 27, 19&5 San Total .Boston New Phila Cleve- ! Rich Atlanta Chicago j St. Minne Kansas Dallas Fran York delphia land I mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 3M55 2,056 8,083 2,040 2,965 2,967 2,019 6,260 1,384 625 1,322 1,072 3,862 Deposits: Member "bank reserves 17,820 728 4,827 744 1,231 782 93T 2,680 610 424 789 976 3,092 U.S* Treasurer-general account 907 49 148 55 70 38 53 106 69 48 66 72 133 Foreign 133 6 1/37 7 12 7 8 18 4 3 6 8 17 Other 194 •* 128 1 * 6 1 1 1 * 3 1 52 Total deposits 19,054 783 5,140 807 1,313 833 999 2,805 684 475 864 1,057 3,294 Deferred availability cash items 5,731 44l 981 369 455 434 505 896 279 185 308 306 572 Other liabilities and accrued dividends . 635 31 167 35 56 33 36 93 22 15 27 34 86 TOTAL LIABILITIES 60,075 3,311 14,371 3,251 4,789 4,267 3,559 10,054 2,369 1,300 2,521 2,469 7,814 CAPITAL ACCOUNTS Capital paid in 528 25 140 29 47 26 31 76 18 12 23 31 70 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 91 4 23. 5._. 8 6 _._ 5 1.5 . 4 2 4 3 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS i 61,218! 3,365 14,671 3,314 4 891 4,325 3,626 10,220 2,409 1,326 2,571 2,534 7,966 t Contingent liability on accept ances purchased for foreign 2/ c orre spondent s 123' 32 7 11 7 17 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,886! 2,153 8,666 2,118 3,203 3,098 2,182 6,662 1,468 645 1,386 1,157 4,148 Collateral for F. R. notes: Gold certificate account 6,727! 420 1,710 435 5C0 690 340 1,100 280 112 225 180 735 Eligible paper 12, 12 U. S. Government securities 31,329i 1,765 7,200 1,800 2,775 2,434 1,900 5,700 1,260 545 1,200 1.050 3.700 Total collateral 38,068' 2,185 8,910 2,247 3,275 3,124 2,240 6,800 1,540 657 1,425 1,230 4,435 1/ After deducting $ 96 million participations ofo ther Federal Reserve Banks, * Less than $5C0,C0C 2/ After deducting $ 91 million participations ofo ther Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis