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 V Jll^ Condition Statement of F.R. Banks H For immediate release March 11, 1965 The average of daily figures of total member bank reserves held during the week ended March 10 decreased a net of $64 million to $21,074 million. Esti mated currency and coin of member banks decreased $233 million and their reserve balances at the Federal Reserve Banks increased $169 million. Estimated reauired reserves^decreased $209 million; and estimated excess reserves increased $145 mil lion to v362 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $23 million, compared with the revised figure of $53 million the week before. The principal changes supplying average reserve balances with Federal Reserve Eanks were increases of $376 million in U. S. Government securities bought outright, $115 million in member bank borrowings; $32 million in U. S. Government securities held under repurchase agreements, and $29 million in acceptances held under repurchase agreements, and a decrease of $116 million in Treasury deposits with •Federal Reserve Eanks. The principal offsetting changes were decreases of $300 mil lion in Federal Reserve float and $89 million in gold stock, and an increase of $140 million in currency in circulation. Total Reserve Bank credit increased $249 million. As of Wednesday; March 10, holdings r,f u. S. Government securities bought outright were $274 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $26 million higher, and member bank borrowings were $133 million lower. 1 Average: s of daily figures Member bank reserves, Week ended Change frcm week ended 'Wednesday, Reserve Bank credit, Mar. 10, Mar. 3, Mar. 11, Mar. 10, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. 3. Government securities-- Bought outright--System account 3T,2U +376 +3,77^ 37,211 Held under repurchase agreements 108 + 32 + 108 62 Acceptances-- Bcught outright 55 + 1 9 55 Eeld under repurchase agreements 51 + 29 + 29 60 Discounts and advances-- Member bank borrowings 365 +115 + 132 422 Other in - 4 + 41 15 Float 1,624 -300 + 15 1,242 Total Reserve Eank credit 397^75 +249 +4,090 39,067 Gold stock 14,813 - 89 - 650 14,813 Treasury currency outstanding 5,39^ - 4 - 166 5,393 59,682 +157 +3,255 59,273 Currency in circulation 33,756 +140 +2,218 38,893 Treasury cash holdings 715 + 3 + 263 721 Treasury deposits with F. R. Banks 8C6 -116 - 135 872 Foreign deposits with F. R. Barks 150 - 9 + 1 151 Other deposits with F. R. Banks 209 - 8 + 2 1°4 Other F. R. accounts (net) 1,202 - 22 + 140 1,193 SI7S37 - 13 +2,489 42,024" Member bank reserves: With Federal Reserve Banks 17,844 +169 + 765 17,250 Currency and coin (estimated) 3,230 ~-2a33 + 331 3,613 Total reserves held 21,074 +1,096 "20,861 Required reserves (estimated) 20,712 -209 +1,048 20,687 Excess reserves (estimated) 362 +145 + 48 | 1^0 On March 10, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were £8,181 million, a decrease of $38 million for the week and a decrease of ^hk 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 STATl^te' <*# CfcflfllTlON OF THE TWELVE FEDERAL BE&BtflTE BANKS (in millions of dollars) Change since Mar« 10, Mar. 3, Mar. 11, 1965 1965 1964 A S S E TS Gold certificate account 12,986 -- - 788 Redemption fund for F. R* notes 1,542 - 5 + 139 Total gold certificate reserves 14,528 - 5 - 649 *& Cash (635) 152 - 11 - 89 Discounts and advances ^37 -163 f 1 Acceptances: Bought outright 55 — - 7 Held under repurchase agreements 60 + 25 »• 37 U. S. Government securities: Bought outright— Bills 6,66* +274 +2,675 Certificates _- -- -3,265 Notes 25,697 -- +4,076 Bonds 4,846 — + 291 Total bought outright 37,211 +274 +3,777 Held under repurchase agreements 62 + 26 + 62 Total U. S^J}^ 37,273 +300 +3,839 Total loans and securities 37,825 +162 +3,870 Cash items in process of collection (1,267) 5,348 -878 + 165 Bank premises 1C2 -- -- Other assets 503 + 69 - 23 TOTAL ASSETS (1,902) 58,458 -663 +3,274 L I A B I L I T I ES Federal Reserve notes (635) 3^,087 +189 +2,573 Deposits: Member bank reserves 17,250 -358 + 402 U. S. Treasurer--general account 872 + i4 + 3 Foreign 151 + 8 - 22 Other 194 - 18 3 Total deposits 18,467 -354 + 380 Deferred availability cash items (1,267) 4,106 -527 + 24C Other liabilities and accrued dividends 605 + 3 + 512 TOTAL LIABILITIES (1,902) 57,265 -689 +3,705 C A P I T AL A C C O U N TS Capital paid in 532 _- + 24 Surplus 524 — - 466 Other capital accounts 137 + 26 + 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,9C2) 58,458 -663 +3,274 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 1U. 8* -.2i - 5-5$ Contingent liability on acceptances purchased for foreign correspondents 119 21 * 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, MARCH 10, 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 420 73 817 - 28 16 days to 90 days 17 42 7,606 + 72 91 days to 1 year ** -_ 14,925 +256 Over 1 year to 5 years -- 11,799 Over 5 years to 10 yeairrss -.- 1,820 Over 10 years __ «_ 306 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACE FEIERAL RESERVE BANK ON MARCH 10, 1965 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Lcuis apolis City cisco (In millionsJ of dollars^ A S S E TS Geld certificate account 12,986 673 2,869 702 985 973 669 2,313 505 2^2 596 534 1,915 Redemption fund for F. R. notes 1,542 88 345 85 135 131 92 283 62 29 62 51 179 Total gold certificate reserves 1 14,528 761 3,214 787 1,120 1,104 761 2,596 567 281 656 585 2,094 F. R. notes of other Eanks 635 56 191 39 h9 37 88 44 26 12 13 34 46 Cther cash i 152 12 34 4 11 11 16 24 7 5 7 4 17 Disccunts and advances ; ^37 80 136 24 6 29 75 3 12 47 k 20 Acceptances: Bought outright 55 — 55 -- -- -- _- -- -- -- -- -- Held under repurchase agreements 60 — 60 — -- ... -- U. S. Government securities: Bought outright-- Bills ! 6,66b 353 1,643 363 563 466 369 1,126 260 135 255 254 881 Certificates __ — __ __ -- -- -.- -- -- -- -~ -- • Notes 25,697 1,359 6,333 1,397 2,170 1,798 1, 421 ^,337 1,001 520 963 982 3,396 Bends 4,846 256 1,195 263 4c9 339 268 618 189 98 185 186 64c 1 Total 37,211 1,568 9,171 2,023 3,1^2 2,603 2,058 6,281 1A50 753 1,^23 1,422 4,917 Held under repurchase agreements 62 -- 62 -- -- — -- — -- -- Total U. S. Government securities 37,273 1,968 9,233 2,023. 3,142 2,603 2,058 6.281 1.450 7T-*. 1.42^ , 1,^22 _.4.,ai7,- Total leans and securities 37,825 2,o48 9,484 2,024 3,166 2,609 2,087 6,356 1,453 765 1,470 1,426 4,937 Cash items in process of collection 6,615 464 1,190 407 463 503 579 1,102 303 219 397 320 666 Bank premises 102 3 8 3 6 5 19 21 6 4 6 11 10 Other assets 503 24 126 27 43 31 29 77 19 10 23 2^ 71 . TCTAL ASSETS 6C, 36O 3,368 l4,24j 3,291 4,858 ^,3cc 3,579 10,220 2,381 1,296 2,57^ 2,403 7,84? Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CK MARCH 10, 1965 3an Total Boston New Phila Cleve Rich- Atlanta Chicago St. Minne Kansas 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 34,722 2,056 8,079 2,026 2,959 2,974 2,011 6,299 1,376 638 1,336 1,071 3,897 Deposits: Member "bank reserves 17,250 720 4,538 750 1,168 779 958 2,622 624 379 789 897 3,026 U.S. Treasurer-general acJ count 872 58 114 57 150 45 21 122 65 58 67 57 58 Foreign 151 7 1/37 9 14 8 9 22 5 3 7 9 21 Other 194 1 121 16 12 1_ L_ 3_ L_ 56 Total deposits 18,467 786 4,810 816 1,333 838 989 2,768 695 44l 866 964 3,161 D O e t f h e e r r r e l d ia b a i v l a i i t l i a e bi s l i a t n y d a c c a c s o h a t i e t d e ms 5,373 440 888 351 407 394 474 889 248 176 294 268 544 dividends 605 29 158 33 53 32 36 89 21 14 26 33 81 TOTAL LIABILITIES 59,167 3,3U 13,935 3,226 4,752 4,238 3,510 10,045 2,3^0 1,269 2,522 2,336 7,683 CAPITAL ACCOUNTS Capital paid in 532 25 140 29 48 27 31 76 18 12 24 31 71 Surplus 524 25 137 29 47 26 31 75 18 12 31 70 23 Other capital accounts 137 .7 35 7 11 9 7 24 5 3 5 19 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 60,360 3,368 14,247 _2i^2l_ 4,858 4,300... ..3,519...1 0,220 _2,_38l„_ 1*£9£_ _2,Jil4_ 2,403 —Z^ejo— Contingent, liability on ace* ept ances purchased for fore3. gn c orre sp ondent s 119 5 2/31 7 11 6 _7_ 17 4 i_ 1_ I_ 16 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 8,528 2,098 3,169 3,094 2,176 6,633 1,449 663 1,384 1,159 4,131 Collateral for F. R. notes: Gold certificate account 1,710 435 500 633 400 1,100 290 112 225 180 735 Eligible paper 3 U. S. Government securities 7,200 1,8C0 2,775 2,510 1,850 5,700 1,260 555 1.2C0 1.050 3.7C0 Total collateral 8,910 2,235 3,275 3,143 2,250 6,SCO 1,553 667 1,425 1,230 4,435 1/ After deducting $Ll4 million participations of other Federal Reserve Banks, * Less than $500,CCO. 2/ After deducting $ 88 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis