H.4.1 Factors Affecting Reserve Balances of Depository Institutions

yiJMSV. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 13, 1965 The average of daily figures of total member bank reserves held during the week ended May 12 decreased $275 million to $21,472 million. Estimated currency and coin of member banks decreased $76 million and their reserve balances at the Federal Reserve Banks decreased $199 million. Estimated required reserves decreased $319 million; and estimated excess reserves increased $44 million to $378 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $120 million, compared with the revised net borrowed figure of $144 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $84 million in Federal Reserve float, $36 million in acceptances held under repurchase agreements, and $16 million in gold stock, and increases of $252 million in currency in circulation and $173 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $232 million in U. S. Government securities held under repurchase agreements, $64 million in U. S. Government securities bought outright, and $20 million in member bank borrowings, and a decrease of $30 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $195 million. As of Wednesday, May 12, holdings of U. S. Government securities bought outright were $26 million lower than a week earlier, U. S. Government securities held under repurchase agreements were $145 million lower, and member bank borrow ings were $249 million lower. Averages of daily figures > Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 12, ~~ May 5^ I May 13, May 12, and related items 1965 1965 I 19^4 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 37,565 + 64 +3,661 37,546 Held under repurchase agreements 625 +232 + 542 541 Acceptances-- Bought outright 53 - 1 + 2 52 Held under repurchase agreements 18 - 36 9 11 Discounts and advances— Member bank borrowings 498 + 20 + 184 118 Other 16 + 16 20 Float 1,557 -84. 1,358 Total Reserve Bank credit 5b,332 +195 +T+7Ti2 39,646 Gold stock 14,395 - 16 -1,068 14,353 Treasury currency outstanding i_12 - 172 5,398 5,399 +iol> +3,072 59,397 60,126 Currency in circulation 39,071 +252 +1,921 39,171 Treasury cash holdings 744 - 10 + 327 747 Treasury deposits with F. R. Banks 1,010 1,080 +173 + 20 Foreign deposits with F. R. Banks 134 120 - 30 - 26 Other deposits with F. R. Banks 191 174 - 14 + 12 Other F. R. accounts (net) 821 732 -__6 - 118 42,024 41,972 +365 +2,136 Member bank reserves: With Federal Reserve Banks 18,154 -199 + 936 17,374 Currency and coin (estimated) 3,318 - 76 + 231 3,801 Total reserves held 21,472 -275 '+1,167 21,175 Required reserves (estimated) 21,094 -319 +1,202 21,109 Excess reserves (estimated) 378 + 44 - 35 66 On May 12, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,6l4 million, a decrease of $59 million for the week and a decrease of $303 million from the comparable Digitized for FRdAaStEeR a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(a) CCNSOLirAITED STATEMENT CF CCNTITICN OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 12, May 5, May 13, 1965 1965 1964 A S S E TS Gold certificate account 12,53^ - 73 -1,232 Redemption fund for F. R. notes 1,5^1 + 8 + 122 Total gold certificate reserves 1^,075 - „ ^ -1,110 Cash (557) 120 _ 3 - kk Discounts and advances 138 - 2kk • kl Acceptances: Bought outright 52 2 + 2 Held under repurchase agreements 11 CA - 12 U. S. Government securities: Bought outright — Bills 6,927 26 +2,536 Certificates »_ -- -3,265 Notes 25,691 „ +4,069 Bonds k,92S -- + 3C2 Total bought outright 37,546 - 26 +3,642 Held under repurchase agreements 5*1 - 145 + 501 Total U. S. Government securities 38,087 171 +4,l43 2_ Total loans and securities 38,288 - 471 +k,092 Cash items in process of collection (l,l*C2) 6,31* + 187 + 254 Bank premises 1C2 -- 1 Other assets 765 - 2k + 70 TOTAL ASSETS (1,959) •59 J _728 376 H-3,26l = L I A B I L I T I ES Federal Reserve notes (557) 3M6l + 182 +2,405 Deposits: Member bank reserves 17,374 -1, 114 + 298 U. S. Treasurer--general account 1,080 + 447 + 251 Foreign 12C - 33 - 4 5 Other 174 - 12 + 3 Total deposits l8,?48 - 712 + 507 Deferred availability cash items (1,1*2) 5,C20 + 275 + 423 Other liabilities and accrued dividends k&2 - kk + 380 TOTAL LIABILITIES (1,959) 58,611 - 299 +3,715 C A P I T AL A C C O U N TS Capital paid in 539 -- + 28 Surplus 524 — - 466 Other capital accounts 5* - 77 - 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,959) 59,728 - 376 +3,261 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shora on the following pages--not consolidated) hc.yf, -3$ -6.6% Contingent liability on acceptances purchased for foreign correspondents 1^-5 +7 + 16 * Figures in parentheses are the eliminaticns made in the consolidating process; see comparable figures en combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS MP SECURITIES, MAY 12, 1965 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity cf the agreements.) U. S. Government securities Disccunts and Changes advances Acceptances Holdings during week Within 15 days 120 21 5,626 -177 16 days to 90 days 18 k2 3,4C2 + 20 91 days to 1 year -~ -- 15,042 - 14 Cver 1 year to 5 years -- -- 12,4C9 -.. Over 5 years to 10 years -- -- 1,292 -- Over 10 years -- -- 316 " m Total 13fi 38,C87 -171 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 12, I965 San New Phila Cleve- Rich St. Minne-1 Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apoli s City cisco -T&m illions of dollars) A S S E TS Gold certificate account 'l2,53^ 859 2,283 849 1,141 1,088 720 2,489 559 227 540 292 1,487 Redemption fund for F. R« notes 1,5^1 89 347 84 135 131 90 285 61 30 61 51 177 Total gold certificate reserves 14,075 | 948 2,630 933 1,276 1,219 8To~ 2,775 620" 257 5oT~ 3ZJ3- 1,664 F. R. notes of other Banks 557 48 171 33 43 36 70 46 21 11 13 31 34 Other cash 1 120 ; 9 25 4 7 9 9 24 7 4 6 5 11 Discounts and advances 138 9 14 6 6 8 16 37 6 17 12 2 5 Acceptances: Bought outright 1 52 -- 52 _- -- — -- -- -- __ — -.« -- Held under repurchase agreements 11 -- 11 -- --. -- -- -- -- -._ XJ» S. Government securities: Bought outright-- Bills 6,927 3^5 1,743 360 554 454 367 1,161 253 145 273 296 976 Certificates 1 -- -- -- -- -_ -- -- -- -- -.- _- --. Notes 25,691 1,279 6,462 1,334 2,053 1,685 1,362 4,308 937 540 1,013 1,099 3,619 Bonds 4,928 245 1,239 256 394 323 261 827 180 104 194 211 694 Total 37,546 1 1,869 9,444 1,950 3,001 2,462 1,990 6,296 1,370 789 1,480 1,606 5,289 Held under repurchase agreements 541 -- 541 -- -- -- -- __ -- -- -- __ --. Total U. S- Government securities 38,087 : 1,869 9,985 1,950 3,001 2,462 1,990 6,296 1,370 789 1,480 1,606 5,289 Total loans and securities i38,288 1,878 10,062 1,956 3,007 2,470 2,006 6,333 1,376 806 1,492 1,608 5,294 Cash items in process of collection 7,780 540 1,375 495 593 594 662 1,258 391 246 475 389 762 Bank premises 102 3 8 3 6 5 20 21 6 3 6 11 10 Other assets 765 37 196 4o 62 46 41 119 27 18 34 36 109 TOTAL ASSETS 61,687 3,463 14,1:67 3,464 4,994 4,379 3,618 10,575 2,448 1,345 2,627 2,423 7,884 — • . —• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 12, I965 '—- San Total Boston New Phila Cleve Rich- Atlanta Chicago St. Minne-j Kansas Dallas Fran York delphia land mend Louis apolis City cisco L~ Tin millions3 of dollars) L I A B I L I T I ES Federal Reserve notes 34,918 2,079 8,037 2, C60 2,972 3,OC8 1,983 6,346 1,375 660 1,351 1,064 3,961 Deposits: Member "bank reserves 17,374 636 4,742 756 1,258 774 928 2,77C 623 398 778 848 2,663 U. 3. Treasurer-general account 1,C80 145 101 105 9h 38 64 148 75 44 59 73 134 Foreign 120 6 1/26 7 11 6 7 18 4 3 6 7 17 Other 174 * 106 l * - •1"7, 2 1 1 1 2 52 Total deposits 18,748 787 4,977 869 1,363 825 1,001 2,937 703 446 845 929 3,066 Deferred availability cash items 6,422 521 1,031 448 516 465 542 1,C57 315 202 361 319 643 Other liabilities and accrued dividends 482 23 127 26 43 24 27 72 17 11 21 26 65 TOTAL LIABILITIES 6c,570 3,4io 14,172 3,403 4,596 4,322 3,553 I0,4i4 2,410 1,319 2,57& 2,358 7,735 CAPITAL ACCOUNTS Capital paid in 539 25 142 29 48 27 32 77 18 13 24 32 72 Surplus 524 1 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 54 3 16 3 3 4 2 9 2 1 2 2 . 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,667 3,463 J&JMZL 3,464 4,994 4,379 3,6l8 10,575 2,446 1,345 2,627 2,423 7,684 Contingent liability on accept ances purchased for foreign correspondents 145 7_ 2/38 8 . .13 7_ 9. 21 5 3 7 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 36,732 2,156 6,439 2,137 3,174 3,128 2,140 6,679 l,46c 665 1,397 1,167 ~Vlt8 Collateral for F, R. notes: Gold certificate account 6,900 420 1,710 465 500 753 4cc 1, ICC 29c 122 225 18c 735 Eligible paper 8 3 5 U. S. Government securities 31,290 1,765 7,2CC l,6cc 2,775 2,4io 1,85c 5,7cc 1,26c 580 1,200 1,050 3,7CO Total collateral 36,198 2,185 8,910 2,266 3,275 3,163 2,25c 6,8cc 1,555 702 1,425 1,23c 4,435 1/ After deducting $92 million participations of other Federal Reserve Eanks. * Less than ^0d,CCC. 2/ After deducting i^SJJmillion participations of other Federal Reserve Eanks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis