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 T. . ^ * For immediate release February 18, 1965 The average of daily figures of total member bank reserves held during the week ended February 17 decreased a net of $323 million to $20,991 million. Esti mated currency and coin of member banks increased $lM3 million and their reserve balances at the Federal Reserve Banks decreased $Vfl million. Estimated required reserves decreased $117 million; and estimated excess reserves decreased $206 mil lion to $29^ million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $59 million; the- week before revised excess reserves were $28 million lass than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $119 million in member bank borrowings, $108 million in gold stock, $45 million in U. S, Government securities bought outright and $76 million in those held under repurchase agreements, and increases of $77 million in Treasury deposits with Federal Reserve Banks and $fk million in currency in circulation. The principal offsetting change was an increase of £68 million in Federal Reserve float. Total Reserve Bank credit decreased $195 million. As of Wednesday, February 17, holdings of U. S. Government securities bought outright were $13 million lower than a week earlier, U. S. Government securi ties held under repurchase agreements were $57 million higher, and member bank borrowings were $85 million higher. Holdings of notes increased $480 million and bonds decreased $480 million, reflecting the exchange of bonds maturing February 15 for k per cent notes maturing November 15, 1966. Averagei s of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 17, Feb. 10, Feb. 19, Feb. 17, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 37,088 - 45 +4,226 37,120 Held under repurchase agreements 63 • 76 + 38 166 Acceptances— Bought outright 57 - 2 7 57 Held under repurchase agreements 44 - 20 + 44 48 Discounts and advances-- Member bank borrowings 353 -119 + 62 184 Other 45 -- + 45 45 Float 1,540 + 68 - 3C6 1,626 Total Reserve Bank credit 39,l8'9 -195 +4,101 39,246 pold stock 1^,937 -108 - 525 14,938 Treasury currency outstanding 5,397 + 6 - 186 5,400 59,523 -297 +3,389 59,584 Currency in circulation 38,715 + 74 +2,246 38,674 Treasury cash holdings 699 + 20 + 279 717 Treasury deposits with F. R. Banks 1,001 + 77 + 22 777 Foreign deposits with F.R. Banks 141 - 11 + 17 136 Other deposits with F. R. Banks 220 + 13 + 11 195 Other F. R. accounts (net) 1,158 -- + 198 1,199 41,93^ +173 +2,772 41,698 Member bank reserves: With Federal Reserve Banks 17,589 -471 + 617 17,886 Currency and coin (estimated) 3,402 +148 + 203 3,735 Total reserves held 20,991 -323 + 820 21,621 Required reserves (estimated) 20,697 -117 + 946 20,763 Excess reserves (estimated) 294 -206 - 126 858 On February 17, 19&5; U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,03^ million, an increase of $88 million for the week and a decrease of $750 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B-4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS \ JULX IU J. .Lj.JLUi.Li3 Change since Feb. 17, Feb . 10, Feb. 19, 1965 1965 1964 A S S E TS Gold certificate account 13,092 -- - 662 Redemption fund for P. R. notes 1,551 - 3 + 136 Total gold certificate reserves 14,643 - 3 - 526 y. Cash (765) 170 - 2 - 123 Disccunts and advances 229 - 85 + 156 Acceptances: Bought outright 57 1 5 Held under repurchase agreements 48 25 48 U. S. Government securities: Bought outright-- Bills 6,658 13 +3,379 Certificates -- -- -3,265 Notes 25,668 + 480 +4,047 Bonds 4,794 - 480 + 239 Total bought outright 37,120 - 13 +4,400 Held under repurchase agreements 166 + 57 + 166 Total U. S. Government securities 37,286 + 44 +4^566 Total loans an^securities 37,620 + 103 +4,765 Cash items in process of collection (1,771) 6,843 +1,195 + 557 Bank premises 154 + 52 + S2 Other assets 372 - 192 - 119 TOTAL ASSETS (2,536) 59,8C2 +1, 153 +4,606 L I A B I L I T I ES Federal Reserve notes (765) 33,866 71 +2,587 Deposits: Member bank reserves 17,886 + 551 +1,297 U. S. Treasurer--general account 777 - 130 - 167 Foreign 136 - 7 5 Other 195 + 3 4 Total deposits 18,994 + 417 +1,121 Deferred availability cash items (1,771) 5,217 + 918 + 818 Other liabilities and accrued dividends 604 - 4i + 522 TOTAL LIABILITIES (2,536) 58,681 +1,223 +5,o48 C A P I T AL A C C O U N TS + 24 Capital paid in 529 -- Surplus 524 -- - 466 Other eanital accounts 68 - 70 -- 1 capital accounts ^ .»v .,.. „.. TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,536) 59.802 +1,153 +*+>6c6 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) 27.3$ -2$ - 3-1$ Contingent liability on acceptances purchased for foreign correspondents 119 1 + 26 * 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 AND SECURITIES, February 17. 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 Holdings during week Within 15 days 182 62 1,271 - 393 16 days to 90 days 1+7 ^3 7,348 +4,102 91 days to 1 year- 14,822 -1,912 Over 1 year to 5 years 11,753 -1,753 Over 5 years to 10 years 1,797 -- Over 10 years -- -- 295 -- Total 229 105 37,286 + kk Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT CF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 17, 1965 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Eallas Fran York delphia land mond Louis apolis City cisco -y- .... ,.— of dollars) A S S E TS (In millions Geld certificate account 13,092 626 2,980 670 1,100 980 730 2,260 511 272 567 589 1,807 Redemption fund for F. R. notes 1,551 88 347 86 136 135 93 284 62 28 62 51 179 Total gold certificate reserves 14,643 714 3,327 756 1,236 1,115 823 2,544 573 30C 629 640 1,986 F- R> notes of other Banks 765 72 222 49 60 59 76 59 35 15 15 38 65 Other cash 170 11 37 5 14 10 17 28 8 5 10 6 19 Discounts and advances 229 15 23 8 13 11 39 72 7 4 11 3 23 Acceptances: 1 Bought outright i 5T 57 Held under repurchase agreements 48 48 U. S. Government securities: Eought outright-- Bills 6,658 : 359 1,604 358 545 463 352 1,164 259 139 268 252 895 Certificates Notes 25,668 1 1,382 6,183 1,379 2,101 1,786 1,357 4,487 1,000 534 1,034 973 3,452 Bends • 4,794! 258 1,155 258 392 333 253 838 187 ICO 193 182 645 Total : 37,120; i,999 8,942 1,995 3,038 2,582 1,962 6,489 1,446 773 1,495 1,407 4,992 Held under repurchase agreements 166 166 Total U. S. Government securities | 37,286 1,999 9, ice 1,995 3,038 2,582 1,962 6,489 1,446 773 1,495 1,407 4,992 Total loans and securities 37,620 2,014 9,236 2,003 3,051 2,593 2,001 6,561 1,453 777 1,506 1,410 5,015 Cash items in process of collection ! 8,6i4 619 1,773 536 640 646 721 1,396 367 244 509 405 758 Bank premises 154 i 3 8 3 6 5 19 21 6 4 6 11 62 Other assets 372 ! 21 105 23 36 24 23 65 15 10 21 19 1C TOTAL ASSETS 1 62,338 3,454 14,708 3,375 5,043 4,452 3,680 10,674 2,457 1,355 2,696 2,529 7,915 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 17, I965 San New Phila Cleve Rich St. 1 Minne- Kansas Total Boston Atlanta Chicago 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 3^,631 2,056 8,062 2,030 2,958 2,966 2,005 6,277 1,379 628 1,327 1,070 3,873 Deposits: Member "bank reserves IT,886 674 4,64o 746 1,299 763 938 2,892 669 417 838 962 3,046 U.S. Treasurer-general ac; count 777 66 95 36 48 76 58 94 45 62 89 66 40 Foreign 136 6 1/37 7 12 7 8 19 5 3 6 8 18 Other 195 1 "116 1 1 6 1 2 * 1 3 l 62 Total deposits 18,994 747 4,888 792 1,360 854 1,CC5 3,007 719 483 936 1,037 3,166 Deferred availability cash items 6,988 569 1,306 458 572 543 569 1,138 300 204 358 325 646 Other liabilities and aecril ed dividends 6o4 29 158 5? 32 90 21 14 26 80 TOTAL LIABILITIES 61,217 3,4tl 14,414 3,313 4,943 4,395 3,614 10,512 2,419 1,329 2,647 2,465 7,765 CAPITAL ACCOUNTS Capital paid in 529 25 l4o 29 47 26 31 76 18 12 24 31 70 Surplus 5?4 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 68 3 17 4 6 5 4 11 2 2 2 2 10 TOTAL LIABILITIES ML CAPITAL ACCOUNTS 62,338 3,454 l4,7C8_ 3,375 5,043 4,452 3,680 10,674 2,457 1,355 2,696 2,529 7,915 Contingent liability on ace: eptances purchased for fore]Lg n correspondents 119 L . 5 2/31 T1 11 6 7 17 4 _ 3. ...5..., 7 16 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,585 2,096 3,178 3,082 2,160 6,63c 1,456 651 1,375 1,159 4,107 Collateral for F. R. notes: Gold certificate account 1,710 435 5CC 665 34o i,icc 280 112 225 180 735 Eligible paper 5 U. S. Government securities 7,200 1,800 2,775 2,445 1,900 5,700 1,260 545 1,200 1,050 3,700 Total collateral 8,910 2,237 3,275 3,H0 2,24o 6,8co 1,545 657 1,425 1,230 4,435 1/ After deducting $ million participaticns of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $ million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis