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 H.4.i For immediate release April 15, 1965 The average of daily figures of total member bank reserves held during the week ended April 14 decreased a net of $219 million to $21,286 million. Esti mated currency and coin of member banks increased $165 million and their reserve balances at the Federal Reserve Eanks decreased $384 million. Estimated required reserves decreased $109 million; and estimated excess reserves decreased $110 mil lion to $264 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $133 million, compared with the revised net borrowed figure of $196 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $173 million in member bank borrowings, $44 million in gold stock, and $37 million in acceptances held under repurchase agreements, and increases of $230 million in currency in circulation and $182 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $127 million in U. S. Government securities bought outright, $78 mil lion in Federal Reserve float, and $29 million in U. S. Government securities held under repurchase agreements, and a decrease of $31 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $20 million. As of Wednesday, April l4, holdings of U. S. Government securities bought outright were $12 million lower than a week earlier, U. S. Government securities^ held under repurchase agreements were $59 million higher, and member bank borrowings were $154 million higher. Averages of daily figures Member bank reserves. Week ended Change from week ended Wednesday, Reserve Bank credit, Apr. l4, Apr. 7, Apr. 15, Apr. l4, and related items 1965 1965 1964 1965 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 37,623 +127 +3,780 37,623 Held under repurchase agreements 258 + 29 + .258 .319 Acceptances — Bought outright 5^ - 3 5 55 Held under repurchase agreements 49 - 37 + 8 62 Discounts and advances- Member bank borrowings 397 -173 + 207 262 Other 15 - 1 + 14 15 Float 1,487 + 78 - 269 1,368 Total Reserve Bank credit 397BB3 + 20 +3,992 39/704" Gold stock 14,519 - 44 - 943 14,413 Treasury currency outstanding 5,406 + 8 - 179 5,413 59,807 ~Io" +2,869 59,530 Currency in circulation 39,092 +23C +2,094 39,163 Treasury cash holdings 741 + 9 + 302 76O Treasury deposits with F. R. Banks 910 +182 - 70 796 Foreign deposits with F. R. Banks 158 - 18 + 23 147 Other deposits with F. R. Banks 202 - 5 + 5 202 Other F. R. accounts (net) 804 - 201 723 4T~9CH +3T8" +2,154 5I7F91 Member bank reserves: With Federal Reserve Banks 17,899 -38^ + 716 17,739 Currency and coin (estimated) 3,387 +165 + 202 3,849 Total reserves held 21,285 -219 918 2T3BB Required reserves (estimated) 21,022 -109 953 21,058 Excess reserves (estimated) 264 -110 35 530 On April 14, I965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,6l0 million, a decrease of $69 million for the w««k and a deorease of $357 million from the comparable Digitized ford FaRtAeS EaR year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Apr. Ik, Apr. 7, Apr. 15, 1965 1965 1964 A S S E TS Gold certificate account 12,59k - 150 -1,171 Redemption fund for F. R. notes 1,537 6 + 124 Total gold certificate reserves * U>131 - 156 -1,047 Cash (520) 123 - 10 - 73 Discounts and advances 277 + 149 - 495 Acceptances: Bought outright 55 -- 2 Held under repurchase agreements 62 31 + 23 U. S. Government securities: Bought outright — Bills 7,001* 12 +3,032 Certificates • - -- -3,265 Notes 25,691 — +4,069 Bonds 4,928 -- + 302 Total bought outright 37,623 - 12 +4,138 Held under repurchase agreements 319 + 59 + 3-19 Total U. S. Government securities 37,942 + 47 +4,457 Total loans and securities 38,336 + I65 +3,983 Cash items in process of collection (1,553) 6,5^0 +1,072 - 150 Bank premises 102 -- -- Other assets 821 - 23 + 208 TOTAL ASSETS (2,073) 60,053 +1,048 +2,9£L L I A B I L I T I ES Federal Reserve notes (520) 34,351 + 118 +2,569 Deposits: Member bank reserves 17,739 - 217 + 307 U- S. Treasurer—general account 796 + 291 - 161 Foreign 1V7 5 + 2 Other (**) 202 + 3 + 13 Total deposits (**) 18,884 + 72 + 161 Deferred availability cash items (1,553) 5,172 + 980 + 211 Other liabilities and accrued dividends 527 - 42 + 432 TOTAL LIABILITIES (2,073) 58,934 +1,128 +3,373 C A P I T AL A C C O U N TS Capital paid in 537 1 + 28 Surplus 524 -- - 466 Other capital accounts 58 - 81 - 14 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,073) 60,053 +1,04~8 +2,921 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages--not consolidated) kO.yfc *Gf> - 6-5$ Contingent liability on acceptances purchased for foreign correspondents 137 + 3 + 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 LOANS AND SECURITIES, APRIL Ik, 19&5 " (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 261 76 1,449 +199 16 days to 90 days 16 4i 1,*H9 -135 91 days to 1 year -- -- 14,997 - 17 Over 1 year to 5 years -- " 12,409 -- Over 5 years to 10 years -- " 1,292 -- Over 10 years -- -- 316 -- Total 277 117 37,942 +"47 ** 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 EANK ON APRIL 14, 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 12,594 746 2,729 796 1,023 1,155 697 2,362 480 202 466 322 1,616 Redemption fund for F. R. notes 1,537 88 350 86 136 126 91 281 61 29 61 50 178 Total gold certificate reserves 14,131 834 3,079 882 1,159 1,281 788 2,643 54l 231 527 372 1,794 F. R. notes of other Banks 520 35 166 28 44 26 76 34 21 10 13 31 36 Other cash 123 9 29 4 7 8 8 23 8 4 6 5 12 Discounts and advances 277 3 35 6 9 16 19 135 5 9 24 3 13 Acceptances: Bought outright ! 55 55 Held under repurchase agreements 62 62 U. S. Government securities: Bought outright — Bills 7,004 352 1,723 369 573 463 377 1,160 268 153 285 304 977 Notes 25,691 1,291 6,321 1,356 2,100 1,698 1,333 4,253 982 56c 1,045 1,116 3,586 Bonds 4,928 248 1,212 260 403 326 265 816 188 108 200 214 688 Total 37,623 1,891 9,25<5 1,985 3,076 2,487 2,025 6,229 1,438 821 1,530 1,634 5,251 Held under repurchase agreements 312 319 Total U. S. Government securities 37,942 1,891 9,575 1,985 3,076 2,487 2,025 6,229 1,438 821 1,530 1,634 5,251 Total loans and securities 1,894 9,727 1,991 3,085 2,503 2,044 6,364 1,443 830 1,554 1,637 5,264 Cash items in process of collection 538 1,463 491 615 643 718 1,327 410 243 477 372 796 Bank premises 3 8 3 6 5 19 21 6 4 6 11 10 Other assets _22_ 208 44 46 125 __30. 18 _37_ 4l 116 TOTAL ASSETS 62,126|3,352 14,680 3,443 4,986 4,513 3,699 10,537 2,459 l,34o 2,620 2,469 8,028 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 APRIL 14, 1965 San New Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Lcuis apolis City cisco (In millions of dolL]a rs) L I A B I L I T I ES Federal Reserve notes 34,871 2,067 8,069 2,058 2,967 2,999 1,985 6,332 1,374 652 1,342 1,077 3,949 Deposits: Member bank reserves 17,739 624 ^,785 760 1,257 786 991* 2,744 648 402 801 913 3,025 U.S. Treasurer-general account 796 66 78 92 52 85 37 128 ^3 48 33 59 75 Foreign 147 7 1/40 8 13 7 9 21 5 3 7 8 19 Other 202 * 117 l 17 1 1 1 1 2 1 69 Total deposits 18,884 697 5,020 861 1,323 885 l,04l 2,894 697 454 843 981 3,188 Deferred availability cash items 6,725 510 1,155 435 551 544 578 1,073 331 196 363 318 671 Cther liabilities and accrued dividends 527 25 l4o 28 46 28 30 76 19 12 23 28 72 TOTAL LIABILITIES 61,007 3,299 147384" 3,382 4,887 4,456 3,634 10,375 2,421 2,571 2,4o4 7,880 CAPITAL ACCOUNTS Capital paid in 537 25 142 29 48 27 31 77 18 13 24 32 71 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 58 3 17 3 4 4 3 10 2 1 2 2 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 62,126 3,352 l4,68o_ 3,443 _4,_9_8£_ 4,513 3,699 10,537 2,^59 1,340 2,620 2,469 8,028 Contingent liability on accept ances purchased for foreign c orre spondents 137 7 2/36 8 12 7 8 19 ..._....5 ..... 3 6 8 18 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,642 2,130 8,481 2,117 3,167 3,112 2,139 6,645 1,452 675 1,394 1,158 4,172 Collateral for F. R. notes: Gold certificate account 6,850 420 1,710 435 500 733 400 1,100 290 122 225 180 735 Eligible paper 6 1 5 U. S. Government securities 31,270 1,765 7,200 1,800 2,775 2,410 1,850 5,70c 1,260 560 1,200 1,050 3,700 Total collateral 38,126 2,185 8,910 2,236 3,275 3,1^+3 2,250 6,8oo 1,555 682 1,425 1,230 M35 l/ After deducting $107 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $101 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis