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 April 1, 1965 The average of daily figures of total member bank reserves held during the week ended March 31 decreased a net of $13^ million to $21,378 million. Esti mated currency and coin of member banks increased $37 million and their reserve balances at the Federal Reserve Banks decreased $221 million. Estimated required reserves decreased $60 million; and estimated excess reserves decreased ^jh million to $378 million. Member bank borrowings at the Federal Reserve Banks exceeded ex cess reserves by $109 million; compared with the revised net borrowed figure of $11 million the week before. The principal change reducing average reserve balances with Federal Reserve Banks was. a decrease of $629 million in Federal Reserve float. The principal offsetting changes were increases of $96 million in U. S. Government securities bought outright and $39 million in acceptances held under repurchase agreements, and decreases of $105 million in "other" F. R. accounts (net), $86 million in currency in circulation, and $58 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $^56 million. As of Wednesday, March 31, holdings of U. S. Government securities bought outright were $159 million higher than a week earlier, U« S. Government securities held under repurchase agreements were $131 million higher, and member bank borrow ings were $113 million lower. Outright holdings of bills, notes, and bonds increased $92 million, $2 million, and $65 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 31, Mar. 24, Apr. 1, Mar. 31, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 37,401 + 96 +3,867 37,460 Held under repurchase agreements 18 + 18 - 23 131 Acceptances-- Bought outright 54 -- 7 55 Held under repurchase agreements 93 + 39 + 43 88 Discounts and advances— Member bank borrowings 487 + 24 + 332 109 Other 15 - 4 + 15 15 Float 1,376 -629 - 136 1,114 Total Reserve Bank credit 39, ^ -456 +4/091 38,972 Gold stock 14,562 -- - 900 14,563 Treasury currency outstanding 5,397 + 4 - 181 5,390 59,403 -453 +3,010 58,925 Currency in circulation 38,710 - 86 +1,975 38,794 Treasury cash holdings 749 + 14 + 358 726 Treasury deposits with F. R. Banks 898 - 58 + 17 867 Foreign deposits with F. R. Banks 146 + 7 - 18 162 Other deposits with F.R. Banks 181 - 5 21 196 Other F. R. accounts (net) 875 -105 - 77 904 41,560 -232 +2,235 41,649 Member bank reserves: With Federal Reserve Banks 17,843 -221 + 776 17,277 Currency and coin (estimated) 3,535 + 87 + 293 3,902 Total reserves held 21,378 -134 +1,C69 21,179 Required reserves (estimated) 21,CCO - 60 + 963 21,C84 Excess reserves (estimated) 378 - 74 + 106 95 On March 31, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,7^1 million, a decrease of $173 million for the week and a decrease of $4c6 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 OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Mar.-31* Mar. 24, Apr. 1, 1965 1965 1964 A S S E TS Gold certificate account 12,746 + 25 -1,039 Redemption fund for F. R. notes 1,547 + 142 Total gold certificate reserves * 1+7293 +~~25 - 897 Cash (626) l44 - 5 - 93 Discounts and advances 124 -118 - 163 Acceptances: Bought outright 55 7 Held under repurchase agreements 88 + 14 11 U. S. Government securities: Bought outright-- Bills 6,826 + 92 +2,373 Certificates -3,265 Notes 25,706 + 2 +4,084 Bonds JV928_ + 65 + 352 Total bought outright 37,^60 +159 +3,544 Held under repurchase agreements 131 +131 + 5 Total U. S. Government securities 37,591 +290 +3,549 Total loans and securities 37,858 +186 +3,368 Cash items in process of collection (1,436) 5,377 -299 + 15 Bank premises 102 Other assets 737 + 31 + 144 TOTAL ASSETS (2,062) 58,511 ZM +2,537 L I A B I L I T I ES Federal Reserve notes (626) 34,003 + 38 +2,425 Deposits: Member hank reserves 17,277 -13 180 U. S. Treasurer—general account 867 -135 + 172 Foreign 162 + 40 + 8 Other 196 + 22 6 T Total deposits 18,502 "81 Deferred availability cash items (1,436) 4,263 45 + 88 Other liabilities and accrued dividends 567 4 + 473 TOTAL LIABILITIES (2,062) 57,335 "59 +2,980 C A P I T AL A C C O U N TS Capital paid in - - 536 + 27 Surplus 524 - 466 Other capital accounts 116 + 27 - 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,062) 58,511 - 62 +2,537 Ratio of gold certificate reserves to F. R. note liability (computed frcm figures as shown on the following pages—not consolidated) 4l,3# +.1$ - 6.0% Contingent liability on acceptances purchased for foreign correspondents 134 +6 + 24 * 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 31, 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 120 103 1,030 +122 16 days to 90 days 4 4o 7,46i - 1 91 days to 1 year -- -- 15,083 +101 Over 1 year to 5 years1 __ 12,4c9 + 25 Over 5 years to 10 yeairrss __ 1,292 + 33 Over 10 years -- __ 316 + 10 Total 124" 153 37,591 +290 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FE1ERAL RESERVE BANK CN MARCH 31, I965 r , San New Phila Cleve Rich St. Minne- 1 Total Boston Atlanta Chicago Kansas Lallas 1 Fran York delphia land mond Louis apolis City i cisco 1 (In millions of dollars) A S S E TS Gold certificate account i 12,746 748 2,839 737 1,027 1,180 699 2,393 498 219 441 325 i,64c Redemption fund for F. R. notes 1,5^7 87 353 86 137 129 92 282 62 29 61 50 179 Total gold certificate reserves 14,293 835 3,192 823 1,164 1,309 791 2,675 56C 248 502 375 1,819 F. R. notes of other Banks 626 51 182 37 54 30 98 4c 29 10 13 33 h9 Cther cash 144 11 33 5 9 9 14 24 8 4 6 5 16 Discounts and advances 124 5 24 8 2 13 4 30 3 7 22 3 3 Acceptances: i Eought outright 55 -- 55 -- --. -- -- -- -- -- -- -- Held under repurchase agreements • 88 -- 88 -- -- •.-. -- -- -- -- -- -- -._ U. S. Government securities: Bought outright — Bills 6,826 | 3^3 1,680 360 558 ^51 368 1,130 261 149 277 297 952 Certificates -- __ -- -.- -- --. -- „ -- -.- -~ -- Notes 1 25,7C6 ' 1,291 6,324 1,357 2,102 1,700 1,383 4,256 983 561 1,045 1,116 3,588 Ecnds 4,928 248 1,212 260 403 326 265 816 188 108 2C0 214 688 Total 37,460 1,882 9,216 1,977 3,063 2,477 2,016 6,202 l,«2 818 1,522 1,627 5,228 Held under repurchase agreements 131 — 131 — — — — — — — -- -- -- Total U. S. Government securities 37,591 1,882 9,347 1,977 3,063 2,477 2,016 6,202 1,432 818 1,522 1,627 5,228 Total loans and securities 37,858 : 1,887 9,514 1,985 3,065 2,490 2,020 6,232 1^35 825 1,544 1,630 5,231 Cash items in process of collection 6,813 ! 466 1,372 417 517 494 546 1,132 300 200 410 331 628 Bank premises 102 3 8 3 6 5 19 21 6 4 6 11 10 Other assets ' 737 | 35 187 39 62 43 42 112 27 15 .& 37 io4 TCTAL ASSETS 60,573 , 3,288 14,488 3,309 4,877 4,380 3,530 10,236 2,365 1,306 2,515 2,422 7,857 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 ON MARCH 31, I965 San New Phila Cleve Rich St. 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 34,629 2,050 6,063 2,032 2,948 2,978 1,986 6,282 1,367 64l 1,331 1,071 3,86o Deposits: Member hank reserves 17,277 608 4,551 747 1,260 794 938 2,669 616 414 700 909 3,051 U.S. Treasurer-general ac: count 867 102 144 62 45 92 37 51 72 37 86 51 68 Foreign 162 7 1/55 8 13 7 9 21 5 3 7 8 19 Other 196 * 130 1 15 12 1 1 2 1 51 Total deposits 16,502 717 4,860 818 1,319 898 985 2,763 694 455 795 969 3,209 Deferred availability cash items 5,699 438 1,066 364 456 413 458 936 243 170 313 286 536 Other liabilities and accrvle d dividends 567 27. 150 31 49 30 33 84 . 20 13 25 30 75 TOTAL LIABILITIES 59,397 3,232 14,179 3,245 4,772 4,319 3,462 10,065 2,324 1,279 2,464 2,356 7,700 CAPITAL ACCOUNTS Capital paid in 536 25 142 29 48 27 31 77 18 13 24 31 71 Surplus 524 25 137 29 hi 26 31 75 18 12 23 31 70 Other capital accounts 116 6 30 6 10 8 6 19 5 2 4 4 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 6c,573 3,268 14,488 3,309 4,877 4,360 3,530 10,236 2,365 1,306 2,515 2,422 7,857 Contingent liability on ace:e ptances purchased for fore 3 correspondents 2-31*- 6 2/35 7 12 7 8 19 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,519 2,129 8,537 2,091 3,l6l 3,096 2,147 6,600 1,449 665 1,378 1,147 4,119 Collateral for F. R. notes: Gold certificate account 6,850 420 1,710 435 500 733 4co 1,100 29c 122 225 180 735 Eligible paper 6 3 3 U. S. Government securities 31,265 1,765 7,200 l,8oo 2,775 2,4l0 1,850 5,700 l, 260 555 1,200 1,050 3,700 Total collateral 38,121 2,185 8,910 2,238 3,275 3,143 2,250 6,800 1,553 677 1,425 1,230 4,435 l/ After deducting $107 million participations of other Federal Reserve Banks, * Less than $500,CCC 2/ After deducting $ 99 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis