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 8, 1965 The average of daily figures of total member bank reserves held during the week ended April 7 increased a net of $174 million to $21,538 million. Esti mated currency and coin of member banks decreased $266 million and their reserve balances at the Federal Reserve Banks increased $440 million. Estimated required reserves increased $104 million; and estimated excess reserves increased $70 million to $434 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $136 million, compared with the revised net borrowed figure of $123 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $211 million in U. S- Government securities held under repurchase agreements, $95 million in U. S- Government securities bought outright, $83 million in member bank borrowings, and $33 million in Federal Re serve float, and decreases of $170 million in Treasury deposits with Federal Re serve Banks and $40 million in "other" F. R- accounts (net). The principal off setting changes were increases of $152 million in currency in circulation and $30 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $4l9 million. As of Wednesday, April 7, holdings of U. S. Government securities bought outright were $175 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $129 million higher, and member bank bor rowings were $1 million lower. Outright holdings of bills increased $190 million and notes decreased $15 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Apr. 7, Mar. 31/ Apr. 8, Apr. 7, and related items 1965 1965 1964 1965 (in millions of dollars J~ Reserve Bank credit: U. S. Government securities-- Bought outright--System account 37,496 + 95 +3,580 37,635 Held under repurchase agreements 229 +211 + 166 260 Acceptances-- Bought outright 57 + 3 4 55 Held under repurchase agreements 86 - 7 + 31 93 Disccunts and advances- Member bank borrowings 570 + 83 + 362 1C8 Other 16 + 1 + 15 20 Float 1,409 + 33 - 184 1,276 Total Reserve Bank credit 397553 +¥l9 +3,965 397P7 Gold stock 1^563 + 1 - 900 14,563 Treasury currency outstanding 5,398 + 1 - 185 5,^01 59,823 7520 +2,880 59,411 Currency in circulation 38,862 +152 +2,023 39,0k! Treasury cash holdings 732 - 17 + 317 736 Treasury deposits with F. R. Banks 728 -170 - 19k 505 Foreign deposits with F. R. Banks 176 + 30 + 28 152 Other deposits with F. R. Banks 207 + 26 + k 199 Other F.R. accounts (net) 835 - kc - 204 822 in, 5^0 - 20 +1,973 hi,455 Member bank reserves: With Federal Reserve Banks 18,283 +Wtf) + 907 17,956 Currency and coin (estimated) 3,255 -266 + 281 3,^93 Total reserves held 2T753H +Tfh~ +1,188 21, kk-9 Required reserves (estimated) 21,104 +10U +1,176 21,110 Excess reserves (estimated) h3h + 70 + 12 1 339 On April 7, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,679 million, a decrease of $62 million for the week and a decrease of $4l7 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 STATHytEN'I OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Apr. 7, Mar • 31* Apr. 8, 1965 1965 1964 A S S E TS Gold certificate account 12,744 - 2 -1,026 Redemption fund for F. R. notes 1,543 - 4 + 127 Total gold certificate reserves 14,257 T~Z - 899 Cash (547) 133 - 11 - 77 Discounts and advances 128 + 4 2 Acceptances: Bought outright 55 — 5 Held under repurchase agreements 93 + 5 + 48 U. S. Government securities: Bought outright-- Bills 7,016 +190 +2,563 Certificates -- -- -3,265 Notes 25,691 - 15 +4,069 Bonds 4,928 — + 352 Total "bought outright 37,635 +175 +3,719 Held under repurchase agreements 260 +129 + 244 Total U. S. Government securities 37,395 +304 +37963 Total loans and securities 38,171 +313 +4,004 Cash items in process of collection (1,295) 5,468 + 91 + 156 Bank premises 102 — l Other assets 844 +107 + 250 TOTAL ASSETS (1,842) 59,005 +4"Q"4~ +3,433 L I A B I L I T I ES Federal Reserve notes (547) 34,233 +230 +2,457 Deposits: Member bank reserves 17,956 +679 + 963 U. S. Treasurer--general account 505 -362 - 407 Foreign 152 - 10 + 8 Other 199 + 3 + 14 Total deposits 18,812 +310 + 578 Deferred availability cash items (1,295) 4,192 • - 71 + 362 Other liabilities and accrued dividends 569 + 2 + 477 TOTAL LIABILITIES (1,842) 57,806 +471 +3,874 C A P I T AL A C C O U N TS Capital paid in 536 — + 27 Surplus 524 -- - 466 Other capital accounts 139 + 23 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,842) 59,005 +494 +3,433 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) kl. Vfo -.2# - 6.( Contingent liability on acceptances purchased for foreign correspondents 13^ 20 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOMS AND SECURITIES, APRIL 7, 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 126 108 1,250 +220 l6 days to 90 days 2 ko 7,61* +153 91 days to 1 year 15,014 - 69 Over 1 year to 5 years 12,409 Over 5 years to 10 years 1,292 Over 10 years 316 Total 128 155 377^95 +304" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN APRIL 7, I965 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") A S S E TS Gold certificate account 12,7^ 825 2,779 790 976 1,126 709 2,389 466 185 509 349 l,64l Redemption fund for F. R. notes 1,5^3 J 89 351 86 137 127 92 282 61 28 61 50 179 Total gold certificate reserves 1^,287 914 3,130 876" 1,113 1,253 801 2,671 527 213 570 399 1,820 F. R. notes of other Banks 5^7 43 166 33 49 24 88 32 22 9 11 32 38 Other cash 133 11 31 4 8 9 10 24 7 4 6 5 14 riscounts and advances 128 15 16 4 8 5 6 43 6 4 15 3 3 Acceptances: Bought outright 55 -- 55 — -- -- -- -- __ -- -- -- -- Held under repurchase agreements 93 — 93 — — — " -- -- -- -- — U. S. Government securities: Bought outright-- Bills 7,016 352 1,726 370 574 464 377 1,162 269 153 285 305 979 t Certificates « -. -- — -- -- _- -- -- -- -- -- Notes 25,691 1,291 6,321 1,356 2,100 1,698 1,383 4,253 982 560 1,045 1,116 3,586 Bonds 4,928 ' 248 1,212 260 403 326 265 816 188 108 200 214 688 Total 37,635 1,891 9,259 1,986 3,077 2,488 2,025 6,231 1,439 821 1,530 1,635 5,253 Held under repurchase agreements 260 -- 260 — -- — — — -- -- -- -- __ Total U. s. Government securities 37,895 1,891 9,519 1,986 3,077 2,488 2,025 6,231 1,439 821 1,530 1,635 5,253 Total loans and securities 38,171 1,906 9,683 1,990 3,085 2,493 2,031 6,274 1,445 825 1,545 1,638 5,256 Cash items in process of collection 6,763 481 1,316 410 462 501 561 1,090 308 210 421 312 691 Bank premises 102 3 8 3 6 5 19 21 6 4 6 11 10 Other assets 844 40 215 45 71 49 47 126 31 19 39 43 119 TOTAL ASSETS 60,847 3,398 14,549 3,36l 4,794 4,334 3,557 10,238 2,346 1,284 2,598 2,440 7,948 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EAKK CK APRIL 7, I965 • San Total Boston New Phila Cleve Rich Atlanta Chicago St. j Minne- Kansas Dallas Fran York delphia land mond Louie ( apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 3^,780 2,059 8,071 2,041 2,957 2,989 1,991 6,314 1,373 646 1,340 1,074 3,925 Deposits: Member "bank reserves 17,956 736 4,890 793 1,218 823 992 2,674 646 396 799 949 3,040 U.S. Treasurer-general acc ount 505 47 63 57 35 20 12 68 11 23 68 43 58 Foreign 152 7 1/38 9 14 8 9 22 5 3 7 9 21 Other 199 1 122 1 6 11 •* 1 3 1 62 Total deposits 18,812 791 5,H3 859 1,268 857 1,014 2,765 662 423 877 1,002 3,181 Deferred availability cash items 5,^87 464 898 364 413 397 450 901 250 174 304 266 6c6 Other liabilities and accruL ed m. dividends 151 31 50 29 33 83 20 13 25 31 76 TCTAL LIABILITIES 59,648 3,3^1 1^,233 3,295 4,688 4,272 3,488 10,063 2,305 1,256 2,546 2,373 7,788 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 23 31 70 Cther capital accounts 139 7 37 8 11 9 7 23 5 3 5 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 60,847 3,398 14,549 .3,361 4,79^ 4,334_ 3,557_ 10,238 2,346 _ 1.28U 2,598. 2,440 7,948 Contingent liability on aceep tances purchased for forei c orre spondent s 134 6 2/35 7 12 7 8 19 5 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,527 | 2,135 8,507 2,107 3,163 3,090 ~27l5l 6,626 1,443 —Iff!- 1,151 4,109 Collateral for F- R. notes: Gold certificate account 6,850 I 420 1,710 435 500 733 4co 1,100 290 122 225 180 735 Eligible paper 9! 6 3 U. S. Government securities 31,265 1 1,765 7,200 1,800 2,775 2,410 1,850 5,70C 1,260 555 1,200 1,050 3,7CO Total collateral 38,124 1 2,185 8,910 2,238 3,275 3,143 2,250 6,800 1,556 677 1,425 1,230 4,435 1/ After deducting $114 million participations of other Federal Reserve Banks, * Less than $5C0,CC0. 2/ After deducting $ 99 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis