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 ^fe^** Condition Statement of F.R. Banks H.4.1 For immediate release June 3> 1965 The average of daily figures of total member bank reserves held during the week ended June 2 increased a net of $8l million to $21,Wf9 million. Estimated currency and coin of member banks decreased $$0 million and their reserve balances at the Federal Reserve Banks increased $171 million. Estimated required reserves increased $22 millicn; and estimated excess reserves increased $59 million to $365 millicn. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $153 millicn, compared with the revised net borrowed figure of $177 mil lion the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $674 million in U. S. Government securities bought outright, $63 million in U. S. Government securities held under repurchase agree ments, and $35 million in member bank borrowings. The principal offsetting changes were decreases of $152 million in Federal Reserve float and $+3 million in gold stock, and increases of $190 million in currency in circulation, $1^3 million in "other" F. R. accounts (net), and $65 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $626 million. As of Wednesday, June 2, holdings of U. S. Government securities bought outright were $369 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $189 millicn higher, and member bank borrowings were $110 million lower. Outright holdings of bills, notes, and bonds increased ^273 million, $15 million, and $8l million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 2, May 26, June 3, June 2, and related items 1965 1965 1964 1965 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 38,462 +674 +4,135 38,504 Held under repurchase agreements 255 + 63 + 201 343 Acceptances-- Bought outright 49 - 1 + 2 45 Held under repurchase agreements 29 + 9 + 22 24 Discounts and advances- Member bank borrowings 518 + 35 + 254 215 Other 14 -- + 13 13 Float 1,446 -152 - 75 1,459 Total Reserve Bank credit 4o,772 +625 +4350 40,603 Gold stock 14,292 - 43 -1,171 14,293 Treasury currency outstanding 5,399 + 2 - 185 5,399 6o~4~S3 +585 +3A95 60,295 Currency in circulation 39,237 +190 +1,974 39,436 Treasury cash holdings 762 — + 337 770 Treasury deposits with F. R. Banks 856 + 65 - 58 949 Foreign deposits with F. R. Banks 142 -- 3 156 Other deposits with F. R. Banks 190 + 18 7 203 Other F. R. accounts (net) 1,285 +143 + 28 1,281 2+27471 +4l4 +2,271 42,795 Member bank reserves: With Federal Reserve Banks 17,992 +171 + 926 17,500 Currency and coin (estimated) 3,457 - 90 + 329 3,711 Total reserves held 21,449 + 81 +1,255 21,211 Required reserves (estimated) 21,084 + 22 +1,185 21,34c Excess reserves (estimated) 365 + 59 + 70 - 129 On June 2, 1965, U. S. Government securities held in custody by the federal Reserve Banks for foreign account were $7,fll million, a decrease of $9^ million for the week and a decrease of $188 million. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELV-EUFEDERAL RESERVE EANKS (in millions of dollars) Change since June 2, May 26, June 3, 1965 1965 1964 A S S E TS Gold certificate account 12,476 + 15 -1,283 Redemption fund for F. R. notes 1,5*6 - 1 + 129 Total gold certificate reserves 14.022 + 14 -1,154 Cash (491) 114 - 6 - 36 Discounts and advances 228 -111 - 137 iiccepuances. 45 - 3 3 Bought outright Held under repurchase agreements 24 -- 6 U. S. Government securities: Eought outright— Bills 7,739 +273 +2,852 Certificates -- -- -- Notes 25,717 + 15 + 812 Bonds 5,048 + 81 + 367 Total bought outright 38; 504 +369 +4,031 Held under repurchase agreements 343 +189 + 161 Total U. S. Government securities 38^847 +558 +4,192 Total loans and securities 39,11*4 +444 +4,058 Cash items in process of collection (1,344) 5,7C9 +1C6 383 Bank premises 102 1 Other assets 319 + 40 75 TOTAL ASSETS (1,835) 59,410 +598 +3,175 L I A B I L I TI E S Federal Reserve notes (491) 34,650 +317 +2,530 Deposits: Member "bank reserves 17,500 - 1 + 250 U. S. Treasurer—general account 949 +297 + 145 Foreign 156 + 37 Other 203 + 46 9 Total deposits 18,808 +3^2 + 4~23 Deferred availability cash items (1,344) 4,250 -101 + 269 Other liabilities and accrued dividends 5C8 + 12 + 393 TOTAL LIABILITIES (1,835) 58,216 +570 +37^15 C A P I T AL A C C O U N TS Capital paid in 540 + 28 Surplus 524 - 466 Other capital accounts 130 + 27 - 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,835) 59,410 +598 +3,175 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 39-9$ -«2$ 6.7# Contingent liability on acceptances purchased for foreign correspondents 159 -- + 12 * 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, JUNE 2, I965 (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 209 37 1,218 + 29 16 days to 90 days 19 32 7,764 +36O 91 days to 1 year 18,223 + 73 Over 1 year to 5 years 9,968 + 30 Over 5 years to 10 years 1,342 + 50 Over 10 years 332 + 16 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.l(b) STATEMENT OF CONDITION OF EACH FELERAL RESERVE BANK ON JUNE 2, 1965 1 r San New Phila-j Cleve Rich St. Minne- Kansas Total Boston i Atlefcta Chicago lallas Fran York deluhia 1 land mond Louis apolis City cisco i (In mill,i on!:> of dollars) A S S E TS Gold certificate account 12,U76 824 2,664 737 i,c64 1,132 749 2,405 54l 237 551 288 1,284 Redemption fund for F. R. notes 1,5^6 89 345 66 134 129 90 289 61 30 61 51 181 Total gold certificate reserves 1^022 913 3,009 823 1,198 l,26l 839 2,694 602 267 612 339 1,465 F. R. notes of other Eanks 491 39 147 26 37 35 62 42 19 13 12 29 30 Other cash 114 8 20 4 8 8 9 24 7 5 6 5 10 liscounts and advances 228 6 82 9 14 6 11 19 4 13 38 6 2C Acceptances: Bought outright ^5 — h5 -- — — -- -- -- — -- -- -- Held under repurchase agreements 2k -- 24 -- U. S. Government securities: Bought outright-- Bills 7,739 39^ 1,947 4o8 633 504 407 1,305 285 166 298 322 1,070 Certificates -- -- -- -- -- -- __ -- -- -- -- _- -_ Notes 25,717 1,309 6,469 1,357 2,105 1,677 1,353 M36 945 550 990 1,071 3,555 Bonds 5,o4e 257 1,270 266 413 329 265 851 185 ice 195 211 698 Total 38,504 1,960 9,686 2,031 3,151 2,510 2,025 6,492 1,415 824 1,483 l,6c4 5,323 Held under repurchase agreements 3^3 — 343 -- -- -- -- -- -- -- __ -- -.- Total U. S. Government securities 38,847 1,960 10,029 2,031 ... ?i5io_ 2,025 6,492 1A15 __ _824_ 1,^63 1,6o4 5,323 Total loans and securities 39,1^ 1,966 ic,180 2,040 3,165 2,516 2,036 6,511 1,419 837 1,521 1,610 5,343 Cash items in process of collection 7,053 48o 1,362 469 520 585 505 1,209 312 211 435 308 657 Bank premises 102 3 8 3 6 5 20 21 6 3 6 11 IC Cther assets 319 15 82 16 25 19 17 49 12 8 15 14 4~ TOTAL ASSETS 61,2^5 3,424 l4,8c8 3,381 4,959 4,429 3,488 10,550 2,377 1,344 2,607 2,316 7,562 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BANK ON JUNE 2, I965 San New Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond J Louis apolis City cisco (In millions of dollL ars) L I A B I L I T I ES Federal Reserve notes 35,141 | 2,085 8,089 2,073 2,978 3,042 1,996 6,391 1,374 661 1,362 1,091 3,999 Deposits: Member bank reserves 17,500 I 731 4,688 76l 1,304 809 991 2,810 63O 436 786 882 2,672 U.S. Treasurer-general ac1 count 949 41 380 56 70 39 25 102 51 35 54 17 79 Foreign 156 7 1/49 8 13 7 9 21 5 3 7 8 19 Other 203 * 133 1 1 6 1 2 1 1 L 1 53 Total deposits 18,808 779 5,250 826 1,388 861 i,026 2,935 850 908 2,823 687 475 Deferred availability cash items 5,594 478 1,013 391 445 437 369 977 258 169 322 222 513 Other liabilities and accn led dividends 508 25 141 26 43 27_ 28 74 1L. 12 21 27 67 TOTAL LIABILITIES 60,051 3,367 14,493 3,316 4,854 4,367 3,419 10,377 2,336 1,317 2,555 2,248 7,402 CAPITAL ACCOUNTS Capital paid in 540 26 142 29 48 27 32 77 18 13 24 32 72 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 130 6 36 7 10 9 6 21 5 2 5 5 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 61,245 __3JL2JL 14,808 —2*381. _ AS59_ 4,429 3,488 10,550_ 2,377 1,3^ 2,607 2,316 7,562 Contingent liability on ace: eptances purchased for forej- gn correspondents 159 8 2/42 9 14 8 9 23_ 5_ ^ 7_ 9_ 21 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 2,154 8,447 2,143 3,166 3,151 2,133 6,750 1,452 688 1,404 1,188 4,218 Collateral for F. R. notes: Gold certificate account 420 1,710 465 500 793 400 1,100 290 122 225 180 735 Eligible paper 7 - ^ U. S. Government securities 58O 1,200 1,050 3,700 1,765 7.200 1,800 2,775 2.410 1,850 5.7C0 1,260 Total collateral 2,185 8,910 2,272 3,275 3,203 2,250 6,800 1,554 702 1,425 1,230 4,435 1/ After deducting $L07 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $L17 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis