H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE m h! h~ * Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release May 20, 1965 The average of daily figures of total member hank reserves held during the week ended May 19 decreased a net of $21 million to $21,^3 million. Esti mated currency and coin of member banks increased $16? million and their reserve balances at the Federal Reserve Banks decreased $lP8 million. Estimated required reserves decreased $3 million; and estimated excess reserves decreased $18 million to $329 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $171 million, compared with the revised net borrowed figure of $151 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $328 million in U. S. Government securities held under repurchase agreements and $4-2 million in gold stock, and increases of $6^ million in "other" F. R. accounts (net), $5C million in Treasury deposits with Federal Reserve Banks, and $2^4- million in currency in circulation. The principal offsetting change was an increase of $358 million in Federal Reserve float. Total Reserve Bank credit increased $1 million* As of Wednesday, Kay 19, holdings of U. 3. Government securities held under repurchase agreements were $290 million lower, and member bank borrowings were $26^ million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 19, May 12, May 20, May 19, and related items 1965 1965 1964 1965 ("in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 37,5^6 - 19 +3,^31 37,5^6 Held under repurchase agreements 297 -328 + 263 251 Acceptances-- Bought outright 52 - 1 + 2 50 Held under repurchase agreements 9 - 9 9 20 discounts and advances-- Member bank borrowings 500 + 2 + 202 382 Other 15 - l + 15 1? Float 1,915 +358 - 149 1,590 Total Reserve Bank credit 40,333 + 1 +4,154 39,854 Gold stock l5, 353 - 42 -l,109 14,353 Treasury currency outstanding 5,407 + 8 - 166 5,409 So", 093 - 33 +2,879 59,616 Currency in circulation 39,09? + 24 +1,9kl 39,103 Treasury cash holdings 762 + 18 + 335 77o Treasury deposits with F.R. Banks i,c6o + 50 + 50 937 Foreign deposits with F. R. Banks 138 + 4 5 155 Other deposits with F. R. Banks 186 - 5 + 8 170 Cther P. R. accounts (net) 885 + 64 - 310 l,eS3 42,126 ^15% +2,019 42,224 Member bank reserves: With Federal Reserve Banks 17,966 -188 + 859 17,392 Currency and coin (estimated) 3,577 +167 + 280 3,792 Total reserves held 21,443 - 21 +1,139 21,185 Required reserves (estimated) 21, ll4 - 3 +1,218 21,198 Excess reserves (estimated) 329 - 13 - 79 -Ik Cn May 19, 1965, U. G. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,791 million, an increase of $177 million for the week and a decrease cf $120 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.l(a) (TNSCLITATED SIATEM2NI OF C0HDI2ICN CF TEE TWELVE FEDERAL £S3EKVE BANKS (in millions of dollars) Change since May 19; May 12, May 20, 1965 1965 19^ A S S E TS " — • Gold certificate account 12,526 - 8 -1,238 Redemption fund for F. R. notes 1,5^7 + 6 + 130 Total geld certificate reserves 1^,073 - 2 -1,105 Cash (581) 121 +1 - 36 Discounts and advances 397 +259 - 133 Acceptances: Bought outright 50 - 2 +1 Held under repurchase agreements 2 0 +9 2 TJ. S. Government securities: Bought outright-- Bills 6,927 — +2,701 Certificates Notes 25,691 -- + 8o4 Bonds 4,928 -- + 281 Total bought outright 37,546 — +3,786 Held under repurchase agreements 251 -290 + 187 Total U. S. Government securities 37,797 -290 +3,973 Total loans and securities 38,264 - 24 +3,839 Cash- items in process of collection (1,655) 6,464 + 86 + 376 Bank premises 102 -- 1 Other assets 446 -319 + 93 TOTAL ASSETS (2,236) 59T5TQ -258 +17I61 L I A B I L I T I ES Federal Reserve notes (581) 34,311 - 50 +2,413 Deposits: Member bank reserves 17,392 + 18 + 461 U. S. Treasurer--general account 937 -143 - 135 Foreign 155 + 35 + 7 Other 170 - 4 -- Total_deposit s T-94- + 333 Deferred availability cash items (1,655) 4,874 -146 + 486 Other liabilities and accrued dividends 487 + 5 + 379 TOTAL LIABILITIES (2,236) 58,326 -2b5 +3,611 C A P I T AL A C C O U N TS Capital paid in 539 -- + 27 Surplus 524 -- - 466 Other capital accounts 81 + 27 0 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,236) 59,470 -258 +3,163 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 40.3$ - 6.6) Contingent liability on acceptances purchased for foreign correspondents 150 +5 + ( * Figures in parentheses are the eliminations made in the consolidating process; see cemparable figures on combined basis on the following pages, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 19. 196$ (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 Dif3 counts and Changes advance> S Acceptances Holdings during week Within 15 days 378 33 1,282 -4,344 3-6 days to 90 days 19 37 7,226 +3,824 91 days to 1 year „ .-. 17,793 +2,751 Over 1 year to 5 years -- — 9; 888 -2,521 Over 5 years to 10 years .- -- 1,292 Over 10 years -- — 316 Total 397 70 37,797 - 290 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT CF COKLITION OF EACH FEDERAL RESERVE BANK CN MAY 19, 1965 New Phila Cleve Rich St. Minne Kansas Total 1 Boston Atlanta Chicago Dallas Pi. York delphia land mond Lcuis apolis City ciscc , (In millions of dollars) A S S E TS Gold certificate aecount 12,526 8C0 2,945 815 1,171 1,102 708 2,292 538 212 481 312 1,150 Redemption fund for P. R- notes 1,547 90 346 86 135 131 90 285 61 30 61 51 181 Total gold certificate reserves 14,073 890 3,291 901 1,306 1,233 798 2,577 599 252~ 51+2~ 36T" 1,331 F. R. notes of other Banks 581 47 178 33 42 42 71 43 21 11 18 31 44 Other cash 121 9 24 4 8 9 9 24 7 5 6 5 11 Discounts and advances 39T 14 48 7 2 14 45 79 8 13 56 45 66 Acceptances: Bought outright 50' 50 -- — -- — — — — — -- -- Held under repurchase agreements 201 20 -- -- — -- -- -- — -- -- U. S. Government securities: Bought outright — Bills 6,927 345 1,743 360 554 454 367 1,161 253 145 273 296 976 Certificates — -- — -- — — — -- — — -- -- Notes 25,691 1,279 6,462 1,33^ 2,053 1,685 1,362 4,308 937 540 1,013 1,099 3,619 Bonds 4,928 2^5 1,239 256 394 323 261 827 180 io4 194 211 694 Total 37,546 9,444 1,950 3,C01 2,462 1,990 6,296 1,370 789 1,480 1,606 5,289 Held under repurchase agreements 251 — 251 -_ — -- -- -- -- -- __ -• Total U. S. Government securities 37,797 1,869 9,695 1,950 3,001 2,462 1,990 6,296 1,370 789 1,480 1,606 5,289__.. Total loans and securities i 38,264 1,883 9,813 1,957 3,003 2,476 2,035 6,375 1,378 802 1,536 1,651 5,355 Cash items in process of collection 1 8,119 569 1,417 496 593 631 684 1,381 390 248 520 385 805 Bank premises I 1021 3 8 3 6 5 20 21 6 3 6 11 10 Other assets 446 21 117 23 35 25 25 66 16 9 22 23 64 TOTAL ASSETS 61,706 ; 3,422 14,848 3,417 4,993 4,421 3,642 10,487 2,417 1,320 2,650 2,469 7,620 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 MAY 19, 1965 San New Phila Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 34,892 2,076 8,033 2,063 2,971 3,007 1,977 6,350 1,371 660 1,3^8 1,084 3,952 Deposits: Member "bank reserves it,392 656 4,896 767 1,272 760 958 2,711 622 369 789 928 2,664 U.S. Treasurer-general account 937 71 26l 67 72 67 56 79 72 42 68 33 h9 Foreign 155 7 1/51 8 13 7 8 20 5 3 6 8 19 Other 170 * 102 1 13 11 # 1 4 1 55 Total deposits 18,654 73^ 5,310 843 1,358 837 1,023 2,811 699 M5 867 970 2,787 Deferred availability cash items 6,529 535 1,072 423 521 492 547 1,090 291 207 365 323 663 Other liabilities and accrued dividends 487 23 131 26 42 27 28 71 17 11 20 26 65 TOTAL LIABILITIES 60,562 3,368 14,5^6 3,355 4,892 ^,363 3,575 10,322 2,378 1,293 2,6CC 2,403 7,467 CAPITAL ACCOUNTS Capital paid in 539 25 142 29 48 27 32 77 18 13 24 32 72 Surplus 524 25 137 29 hi 26 31 75 18 12 23 31 70 Other capital accounts 81 4 23 4 6 5 4 13 3 2 3 3 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,706 3,^22 14,848 3,^17 _Jb22i 4,421 3,642 10,487 2,417 1,320 2,650 2,469 _ 7,620 Contingent liability on accept ances purchased for foreign c orrespendent s 150 7 _.,|/39 8 14 8 9 21 5 3. ... J.... ..._. _.9. 20 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 36,785 2,160 8,427 2,132 3,173 3,133 2,131 6,693 1,^58 691 1,400 1,188 ~k~ 199 Collateral for F. R. notes: Gold certificate account 6,900 420 1,710 465 500 753 400 1,100 290 122 225 180 735 Eligible paper 13 5 8 U. S. Government securities 31,290 1,765 7,200 1,800 2,775 2,410 1,850 5,700 1,260 580 1,200 1,050 3,700 Total collateral 38,203 2,185 8,910 2,270 3,275 3,163 2,250 6,8co 1,558 702 1A25 1,230 M35 * Less than $500,000. 2/ After deducting $111 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis