H.4.1 Factors Affecting Reserve Balances of Depository Institutions

..•iflsafc.. 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 March 25, 1965 The average of daily figures of total member "bank reserves held during the week ended March 2k increased $351 million to $21,518 million. Estimated cur rency and coin of member hanks increased $1 million and their reserve balances at the Federal Reserve Banks increased $350 million. Estimated required reserves in creased $214 million. Estimated excess reserves increased $137 million to $if63 million/ and were equal to member bank borrowings at the Federal Reserve Banks; compared with the revised net borrowed figure of §kk million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $1+08 million in Federal Reserve float and $93 million in member bank borrowings, and decreases of $98 million in currency in circulation and $8l million in "other" F. R. accounts (net). The principal off setting changes were decreases of $179 million in gold stock and $63 million in U. S. Government securities held under repurchase agreements, and an increase of $kk million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $^l6 million. As of Wednesday, March 24, holdings of U. S. Government securities bought outright were $7 million lower than a week earlier, U. S. Government sec urities held under repurchase agreements were $96 million lower, and member bank borrowings were $150 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 2k, Mar. 17, Mar. 25, Mar. 2k, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 37,305 - 3 +k, 004 37,301 Held under repurchase agreements - 63 - 83 Acceptances-- Bought outright 5k 9 55 Held under repurchase agreements 5k - 20 3 7^ Discounts and advances-- Member bank borrowings k63 + 93 + l&k 222 Other 19 + 1 + 19 20 Float 2,005 +4c8 + 32 1,368 Total Reserve Bank credit 39,900 7516* +4,150 39,c4o Gold stock Ik,562 -179 - 900 1^,563 Treasury currency outstanding 5,393 - k - 186 5,398 59,856 +234 +3,065 59,001 Currency in circulation 38,796 - 98 +2,139 38,753 Treasury cash holdings 735 + 18 + 304 756 Treasury deposits with F. R. Banks 956 + kk - 88 1,002 Foreign deposits with F.R. Banks 139 + 7 20 122 Other deposits with F. R. Banks 186 - 5 - 10 174 Other F. R. accounts (net) 980 - 81 + 30 904 kl,792 -115 +2,355 41,711 Member bank reserves: With Federal Reserve Banks I8,c6k +350 + 710 17,290 Currency and coin (estimated) 3,454 + 1 + 298 3,820 Total reserves held 21,518 +351 +i,oc8 21,110 Required reserves (estimated) 21,055 +214 +1,053 21,030 Excess reserves (estimated) 463 +137 - 45 80 Cn March 2*4-, 1965, U. S. Government securities held in custody by the Federal Reserve Bonks for foreign account were $7>91^- million, a decreased of $197 million for the week and a decrease of $^20 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 STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS \JJU iUlXXlUUto U± Change since Mar. 24, Mar. 17, Mar. 25, 1965 1965 1964 A S S E TS Gold certificate account 12,721 2 -1,066 Redemption fund for F. R. notes 1,547 6 + 144 Total gold certificate reserves -r—5 - 922 -& Cash (657) 1k$ 2 - 96 Discounts and advances 242 - 165 + 187 Acceptances: Bought outright 55 «« 7 Held under repurchase agreements 74 18 + 16 U. S. Government securities: Bought outright-- Bills 6,734 7 +2,842 Certificates __ -3,265 Notes 25,704 -- +4,082 Bonds 4,863 -- + 287 Total bought outright 37,301 7 +3,946 Held under repurchase agreements - 96 - 28 Total U. s. Government securities 37,301 - 103 +3,918 Total loans and securities 37,672 - 286 +4,114 Cash items in process of collection (1,451) 5,676 -2,013 + 177 Bank premises 102 - — Other assets 706 + l4o + 63 TOTAL ASSETS (2,108) 5BT573 JH^I +3,335 L I A B I L I T I ES Federal Reserve notes (657) 33,965 • 129 +2,442 Deposits: Member bank reserves 17,290 - 256 + 679 U. S. Treasurer--general account 1,002 - 97 - 99 Foreign 122 - 27 - 21 Other 174 - 16 + 4 Total deposits 187558" - 396 +~563 Deferred availability cash items (1^51) 4,308 -1,666 + 306 Other liabilities and accrued dividends 563 2 + 471 TOTAL LIABILITIES (2,108) 577424 -2,193 +3,782 C A P I T AL A C C O U N TS Capital paid in 536 2 + 28 Surplus 524 -- - 466 Other capital accounts 89 + 22 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,108) 58,573 -2,169 +3,336 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) hi, 2$ .lfa - 6.2$ Contingent liability on acceptances purchased for foreign correspondents 128 +8 + 23 * 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, MARCH 2k, I965 (Acceptances and securities held under repurchase agreements are classified as maturing with 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 225 86 908 - 93 16 days to 90 days IT h3 7,462 + 10 91 days to 1 year -« -- 14,982 - 20 Over 1 year to 5 y irs — 12,384 Over 5 years to 10 yreeaarrss __ 1,259 Over 10 years -- — 306 Total 252 129 37,301 -103 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEEERAL RESERVE BANK ON MARCH 24, I965 San Total I Boston New Phila Cleve Rich Atlanta Chicago St. Minne- Kansas Dallas Fran York delphia land mond Louis apolis City ... cisco (In millions of dollars) A S S E TS Gold certificate account 1 12,721 610 2,865 715 914 937 619 2,279 499 268 528 547 1,940 Redemption fund for F. R. notes 1 1.5^7 L 8T 353 86 137 129 91 282 62 29 62 50 179 Total gold certificate reserves 1 l¥,268" r ^97 '37218"" " 6m"" 1^051 1,556~" 710 2,16T~ "561 297 590 597 2,119 F, R. notes of other Banks i 657 54 195 37 50 36 92 41 29 11 14 38 60 Other cash 14-9 11 33 5 11 11 14 23 7 5 7 6 16 Discounts and advances 1 242 \ 7 3C 2 4 45 44 63 3 7 14 3 20 Acceptances: Bought outright 55 55 *"""" *-• ~- -- -- -- -- Held under repurchase agreements 74 -- 74 -- — U. S. Government securities: Bought outright-- Bills 6,73*1- 356 1,659 366 569 471 373 1,137 263 136 258 257 889 Certificates Notes 25,704 1,359 6,335 1,398 2,170 1,798 1,422 4,338 1,CC1 520 983 983 3,397 Bonds 4,863 257 1,199 264 411 340 269 821 189 98 186 186 643 Total 37,301 1,972 9,193 2,028 3,150 2,609 2,064 6,296 1,453 754 1,427 1,426 4,929 Held under repurchase agreements Total U. S. Government securities 37,301 1,972 9,193 2,028 3,150 2,609 2,c64 6,296 1,453 754 1,427 1,426 4,929 Total loans and securities 37,672 1,979 9,352 2,030 3,154 2,654 2,108 6,359 1,456 761 l,44l 1,429 4,949 Cash items in process of collection 7,127 5C8 1,322 429 480 562 610 1,134 334 225 458 381 684 Bank premises j 1021 3 8 3 6 5 19 21 6 4 6 11 10 Other assets 706 35 179 38 62 4i 4o 107 26 14 SI 35 98 TOTAL ASSETS 60,681 3,287 l4,307 3,343 4,8l4 4,375 3,593 10,246 2,419 1,317 2,547 2,497 7,936 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 OK MARGE 24, 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 i 34,622 2,01*8 8,057 2,032 2,952 2,974 1,983 6,291 1,369 641 1,325 1,071 3,879 leposits: Member "bank reserves 17,290 62k 4,590 749 1,223 761 939 2,650 64o 398 757 910 3,049 U. S. Treasurer-general account ! 1,002 52 108 89 47 91 84 108 83 46 57 97 14C Foreign 122 6 1/26 7 12 7 8 18 4 3 6 8 1" Other 171+ * 104 2 * 4 2 2 1 1 2 1 55 Total deposits 18,588 682 4,828 847 1,282 863 1,033 2,778 726 448 822 1,016 3,26l Deferred availability cash items 5,759 475 973 370 428 449 478 927 263 189 325 314 568 Other liabilities and accru ed dividends 563 27 146 31 50 30 32 83 20 13 25 31 75 TOTAL LIABILITIES 59,532 3,232 14,004 3,280 4,712 4,316 3,526 10,079 2,380 1,291 2,497 2,432 7,783 CAPITAL ACCOUNTS Capital paid in 536 25 142 29 48 27 31 77 18 13 24 31 71 -Surplus 524 25 137 29 47 26 31 75 18 12 31 70 23 Other capital accounts 89 5, 24 5__. . , 7 6 5 15 3 1 3. 12 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 60,681 3,287 14,307 3,343 4,814 4,375 3,593 10,246 2,419 1,317 2,547 2,497 7,936 Contingent liability on acc eptances purchased for forei gn correspondents 128i 6 2/34 7 12 6 8 18 4 3 6 7 17 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,578 2,126 8,559 2,099 3,161 3,101 2,156 6,608 1,445 666 1,362 1,152 4,123 Collateral for F. R. notes: Gold certificate account 6,750 420 1,710 435 500 633 4oo 1,100 290 122 225 180 735 Eligible paper 4 1 3 U. S. Government securities 1,765 7,200 l,8oo 2,775 2,510 1,850 5,700 1,260 555 1,200 1,050 3,700 Total collateral 38,119 2,185 8,910 2,236 3,275 3,143 2,250 6,800 1,553 677 1,425 1,230 4,435 1/ After deducting $96> million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $S& million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis