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 February 25, 1965 The average of daily figures of total member bank reserves held during the week ended February 2k increased a net of $128 million to $21,176 million* Estimated currency and coin of member banks decreased $27 million and their reserve balances at the Federal Reserve Banks increased $155 million. Estimated required reserves decreased $112 million; and estimated excess reserves increased $2^0 million to $552 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Bank by $32 million; compared with the revised figure of minus $k± million the week before, when excess reserves vere less than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $19C million in Federal Reserve float, $167 mil lion in member bank borrowings, and $31 million in U. S. Government securities held under repurchase agreements, and decreases of $123 million in Treasury de posits with Federal Reserve Banks and $102 million in currency in circulation. The principal offsetting changes were decreases of $370 million in U. S. Govern ment securities bought outright and $kk million in acceptances held under re purchase agreements, and an increase of $37 million in "other" F. R. accounts (net)* Total Reserve Bank credit decreased $27 million* As of Wednesday, February 2k holdings of U. S. Government securities } bought outright were $^92 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $113 million lower, and member bank borrowings were $97 million lower. Outright holdings of bills decreased $573 million; notes and bonds increased $29 million and $52 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 24, Feb. 17, Feb. 26, Feb. 24, and related items 1965 1965 1964 1965 (Ir1 millions oi' dollars) Reserve Bank credit: U. S. Government securities— Bought out right--System account 36,718 -370 +3,968 36,628 Held under repurchase agreements $k + 31 + 94 53 Acceptances-- Bought outright 55 - 2 6 55 Held under repurchase agreements -- - 44 -- -- Discounts and advances-- Member bank borrowings 520 +167 + 320 87 Other ^5 -- + 45 45 Float 1,730 +190 - 105 1,545 Total Reserve Bank credit 39,162 - 27 +4,316 38,413 Gold stock 14,938 + 1 - 524 14,938 Treasury currency outstanding 5,391 - 6 - 197 5,384 59,491 - 32 +3,595 58,735 Currency in circulation 38/613 -102 +2,305 38,682 Treasury cash holdings 719 + 20 + 280 716 Treasury deposits with F. R- Banks 878 -123 - 25 919 Foreign deposits with F. R. Banks 139 - 2 8 13^ Other deposits with F. R. Banks 204 - 16 + 7 209 Other P. R. accounts (net) 1,195 + 37 + 144 1,192 4l,748 -186 +2,704 41,852 Member bank reserves: With Federal Reserve Banks 17,744 +155 + 892 16,883 Currency and coin (estimated) 3,432 - 27 + 248 3,828 Total reserves held 21,176 +128 +1,140 20,711 Required reserves (estimated) 20,624 -112 + 94l 20,720 Excess reserves (estimated) 552 +240 + 199 -9 On February 2k, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,136 million, an increase of $102 million for the week and a decrease of $660 million from the comparable Digitized fodr FaRtAeS EaR year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.fc.l(a) CONSOLIDATE!) SfcAfflSfoEOT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Feb. 24, Feb. 17, Feb. 26, 1965 1965 _ 1964 A S S E TS Golld certificate account 13,092 - 662 Redemption fund for F. R« notes 1,5^9 2 + 138 Total gold certificate reserves 14,641 2 - 52? Cash (733) 164 6 - 125 Discounts and advances 132 • 97 - 442 Acceptances: Bought outright 55 2 7 Held under repurchase agreements 48 U* S. Government securities: Bought outright-- Bills 6,085 • 573 +2,594 Certificates -3,265 Notes 25,697 + 29 +4,076 Bonds 4,846 + 52 + 291 Total bought outright - 492 +3769S 357^5 Held under repurchase agreements - 113 + 53 53 Total U. S. Government securities +17^9 - 6eT Total loans and securities 36,868 - 752 +3,300 Cash items in process of collection (1,303) 5,829 -1,014 + 528 Bank premises 102 Other assets 449 + 25** - 77 TOTAL ASSETS (2,036) 58,053 -1,749 +3,102 L I A B I L I T I ES Federal Reserv? notes ~ (733) 33,881 + 15 +2,698 Deposits: Member bank reserves 16,883 -1,003 - 132 U* s. Treasurer--general account 919 + 142 + 94 Foreign 134 2 1 Other 209 + 14 + 13 Total deposits 18,145 26" Deferred availability cash items (1,303) 4,284 - 933 + 358 Other liabilities and accrued dividends 599 5 + 511 TOTAL LIABILITIES (2,036) 567909 -1,772 T ^l P- £ £ I £ A L A C C O U N TS Capital paid in ~ 532 3 + 25 Surplus - 466 524 Other capital accounts + 20 + 2 88 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,036) 56,053 -VF59 +3*102 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$ .% - 2,5$ Contingent liability on acceptances purchased for foreign correspondents 118 1 + 26 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis en the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 2k, 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 Disccunts and Changes advances Acceptances Holdings during week Within 15 days 110 17 962 -309 16 days to 90 days 22 38 7,159 -189 91 days to 1 year *** 1M35 -187 Over 1 year to 5 years _ - -- 11,799 + k6 Over 5 years to 10 years _- «»— 1,820 + 23 Over 10 years _- _- 306 + 11 Total 132 55 36,681 „ _ _ _ _„ "^ ** February IT figures corrected. *** Less than $500,000. 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 FEBRUARY 24, I965 "San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago! Dallas Fran York delphia land mond Louis apolis City 1 cisco (In millions of dollL ars) A S S E TS Gold certificate account : 13,092 780 2,823 693 1,113 893 757 2,344 585 290 589 496 1,729 Redemption fund for F. R. notes 1,549 88 347 85 136 134 93 284 62 28 62 50 180 Total gold certificate reserves 14,64l 868 3,170 778 1,249 1,027 850 2,628 647 318 651 546 1,909 F. R. notes of other Eanks 733 68 210 45 62 52 85 55 34 15 15 38 54 Other cash 164 12 35 5 14 10 16 26 8 5 8 5 20 Discounts and advances 132 : 4 14 3 8 9 18 36 7 8 14 4 7 Acceptances: Bought outright 1 55 55 _- -- -- -- U. S. Government securities: Bought outright-- 1 Bills 6,085 334 1,474 326 479 437 319 1,051 231 125 244 240 825 Certificates -- ~- -- -- -- -.- _- --. — -- -- -- -- Notes | 25,697 ' 1,409 6,225 1,377 2,021 1,844 1,349 4,440 974 528 1,029 1,015 3,486 Eonds 4,846 265 1,174 260 ^81 348 254 8T7 184 ICO 194 192 657 Total 36,628 2,008 8,873 1,963 2,881 2,629 1,922 6,328 1,389 753 1,467 1,447 4,968 Held under repurchase agreements 53 -- 53 -.- -- -- -- -- -- -- --. -- Total U. S. Government securities 36,681 2,008 8,926 1,963 2,881 2.629 1,922 6,328 1,389 753 1,467 1,447 4,968 Total loans and securities 36,868 2,012 8,995 1,966 2,889 2,638 l,94o 6,364 1,396 761 1,481 1,451 4,975 Cash items in process of collection 7A32 496 1,385 480 474 607 530 1,222 311 199 426 337 665 Bank premises 102 3 8 3 6 5 19 21 6 4 6 11 10 Other assets 449 22 ill 24 ^6 27 25 69 17 10 22 21 65 TOTAL ASSETS 60,089 3,481 13,914 3,301 4,730 4,366 3,465 10,385 2,419 1,312 2,609 2,409 7,698 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION CF EACH FEDERAL RESERVE BANK ON FEBRUARY 24, 1965 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 34,614 2,056 8,073 2,027 2,953 2,960 1,997 6,276 1,374 628 1,325 1,069 3,876 deposits: Member bank reserves 16,883 615 4,034 731 1,132 798 918 2,707 665 424 622 933 2,904 U.S. Treasurer-general aci count 919 55 120 %7 103 43 36 130 68 7% 73 70 100 Foreign 134 6 1/39 7 12 6 8 18 4 3 6 8 17 Other 209 * 134 1 1 1 3 1 59 15 12 Total deposits 18,145 876 4,327 786 1,248 852 963 2,857 738 502 904 1,012 3,080 referred availability cash items 5,587 465 1,059 392 375 462 403 998 246 142 304 231 510 Other liabilities and accril ed dividends 599 29 155 33 53 34 35 88 21 14 26 32 79 TOTAL LIABILITIES 58,9^5 3,%26 13,6l4 3,238 4,629 4,308 3,398 10,219 2,379 1,286 2,559 2,344 7,5^5 CAPITAL ACCOUNTS Capital paid in 532 25 l4o 29 48 27 31 76 18 12 24 31 71 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 88 5 23 5 6 5 5 15 4 2 3 3 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS :60,089 __3x!i§L.j& mL. „3^20i_ %,730 %,366 _^M5__ 10,365- 2,%19 1,312 2.609 2.409 __L_628_ Contingent liability on acj(e ptances purchased for fore]L gn correspondents 118 5 2/31 6 11 6 7 il_ 4 2_ 5__ 7 16 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,566 2,131 8,576 2,092 3,173 3,080 2,162 6,620 1,%54 655 1,371 1,153 4,099 Collateral for F. R. notes: Gold certificate account 6,647 420 1,710 435 500 610 34o 1,100 280 112 225 180 735 Eligible paper 6 1 5 U. S. Government securities 31,355 1,765 7,200 1,800 2,775 2,500 1,850 5,700 1,260 1,200 1,050 3,700 Total collateral 38,008 2,185 8,910 2,236 3,275 3,110 2,190 6,800 1,5%5 667 1,%25 1,230 4,435 other Federal Reserve Banks, x/ aioer aeauc^mg $^p million participations ui * Less than $5CC,QCC. other Federal Reserve Banks- 2/ After deducting $87 million participations of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis