H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••:i>£Sg& F E D E R AL R E S E R VE Fxtors Affecting Bank Reserves and Condition Statement of F.R. Banks - *. + H.4.r w For immediate release July 1, 1965 The average of daily figures of total member bank reserves held during the week ended June 30 decreased a net of $2C3 million to $21,856 million. Estimated currency and coin of member banks increased $67 million and their reserve balances at the Federal Reserve Banks decreased $270 million. Estimated required reserves decreased $132 million; and estimated excess reserves decreased $71 million to $3^2 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $lkk million, compared with the revised net borrowed figure of $170 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $359 million in Federal Reserve float, $97 million in member bank borrowings, and $65 million in gold stock*, and an increase of $33 million in foreign deposits with Federal Reserve Banks. The principal off setting changes were an increase of $95 million in Federal Reserve holdings of U. 3. Government securities, and decreases of $89 million in Treasury deposits with Federal Reserve Banks and $71 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $353 million. As of Wednesday, June 30, holdings of II. 3. Government securities bought outright were $218 million higher than a week earlier, U. S. Government securities held under repurchase agreements were $45 million higher, and member bank borrowings were $566 million higher. Outright holdings of bills and bonds increased $26 million and $192 million, respectively. Averages of daily figures Member bank reserves, l^ek~en'ded Change from week ended Wednesday, Reserve Bank credit, June 30, June 23, July 1, June 30, and related items 19^5 1965 1965 1965 (in millions of dollars) Reserve Bank credit: 1T- 3. Government securities- Bought outright--System account 38,750 + 55 +3;917 38,882 Eeld under repurchase agreements 130 + 51 + 112 218 Acceptances — Bought outright l+l + 1 8 5l Held under repurchase agreements 13 + 6 17 12 Discounts and advances- Member bank borrowings 586 - 97 + 265 656 Other l5 + 1 + l5 11 Float 1,678 -359 - i5o 1,359 Total Reserve Bank credit 5l,102 -353 +k,152 51,159 Gold stock* 15,227 - 65 -1,235 13,935 Treasury currency outstanding 5,5l3 + 5 - 169 5,513 60,752 ziaH +2,737 60,5^6 Currency in circulation 39,509 - 19 +1,891 39,688 Treasury cash holdings 701 + 3 + 377 779 Treasury deposits with F. R- Banks ec3 - 89 - 70 672 Foreign deposits with F. R. Banks 162 + 33 + 22 i 179 Other deposits with F. R. Banks i85 - 1 - 11 l°8 Other F. R. accounts (net) 1,082 ^- m71 - 195 762 527521 +2,015 52,278 Member bank reserves: With Federal Reserve Banks 18,221 -270 + 723 18,229 Currency and coin (estimated) 3,635 + 67 + 288 ! 3,958 Total reserves held 21,856 -2C3 +1,Oil 22,177 Required reserves (estimated) 21,515 -132 +1,071 21,603 Excess reserves (estimated) 352 - 71 - 60 ^75 On June 30, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,599 million, an increase of $313 million for the week and a decrease of $2*13 million from the comparable date a year ago. * decrease reflects payment of $259 million to the International Monetary Fund on June 30 for increase in United States quota. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4,1(a) CONSOLIDATED STATEMENT CF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change sin ee June 30, June 23> July 1, 1965 1965 1964 A S S E TS Gold certificate account 12,053 -349 -1,694 Redemption fund for F. R. notes 1,617 - 1 + 179 Total gold certificate reserves 13,670 -350 -1,515 Cash (537) 118 - 2 - 20 Discounts and advances 657 +564 + 233 Acceptances: Bought outright 41 7 Held under repurchase agreements 12 - 4 , 44 u S, Government securities: Bought outright— Bills 7,761 + 26 +2,386 Certificates Notes 25,737 — + 825 Bonds 5,384 +192 + 673 Total bought outright 187882 +218 +37334- Held under repurchase agreements 218 + 45 + 93 Total U. S. Government securities 39,100 +263 +3,977 Total loans and securities 39,810 +823 +4,159 Cash items in process of collection (1,587) 6,041 -828 + 64 Bank premises 102 -- 1 Other assets 767 +404 + 388 TOTAL ASSETS (2,124) WJ508 +~47 +3,075 L I A B I L I T I ES Federal Reserve notes (537) 34,907 +170 +2,4l4 Deposits: Member bank reserves 18,229 +396 + 584 TL S. Treasurer—general account 672 -103 - 199 Foreign 179 + 41 + 31 Other 198 + 31 5 Total deposits 197278 +1^5 + 411 Deferred availability cash items (1,587) 4,692 -498 + 352 Other liabilities and accrued dividends 443 - 13 + 343 TOTAL LIABILITIES (2,124) 59,320 + 24 +3,520 C A P I T AL A C C O U N TS Capital paid in 541 -- + 27 Surplus 524 -- - 466 Other capital accounts 123 + 23 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,124) 6o7508" + Vf +3,075 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 38.6$ -l.lfo - 7.5* Contingent liability on acceptances purchased for foreign correspondents 157 - 1 + 11 * Figures in parentheses are the elimiiaa tions made in the consolidating; process; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 30., 1965 (Acceptances and securities held under repurchase agreements 1a re 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 65O 24 1,183 - 30 16 days to 90 days 7 29 7,749 +108 91 days to 1 year 18,170 - 7 Over 1 year to 5 years 10,138 + 83 Over 5 years to 10 years 1,489 + 86 Over 10 years 371 + 23 Total 657 53 39,100 +263 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 30, I965 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) A S S E TS Gold certificate account 12,053 750 2,883 714 1,072 1,088 601 2,214 411 183 434 332 1,371 Redemption fund for P. R. notes L .1,617 90 392 87 138 125 94 298 61 31 64 52 185 Total gold certificate reserves 13,670 840 3,275 801 1,210 "" 1,213 695" 2,512" 472 214 4"9H~ J84--1755S— F. R. notes of other Banks 537 38 162 25 38 47 56 50 22 19 13 25 42 Other cash 118 7 22 4 9 7 11 25 7 5 5 5 11 Piscounts and advances 657 11 287 28 22 13 24 150 1 41 42 22 16 Acceptances: Bought outright ill 41 — — — — — — — — — -- Held under repurchase agreements 12 12 -- — — — -- — -- — -- -- U. S. Government securities: Bought outright-- Bills 7,761 409 1,926 406 632 514 414 1,297 295 165 304 325 1,074 Certificates -- «... «... -- — — -- -- -- — — -- Notes 25,737 1,356 6,390 1,345 2,096 1,704 1,374 4,302 977 548 1,007 1,076 3,562 Bonds 5,384 284 1,337 281 438 356 288 900 204 115 211 225 745 Total 38,882 2,049 9,653 2,032 3,166 2,574 2,076 6,499 1,476 828 1,522 1,626 5,381 Held under repurchase agreements 218 _- 218 -- -- «.- -- -«. — — — -- — Total U. S. Government securities 39,100 2,049 9.671 2,032 3,166 2,574 2,076 6,499 1,476 828 1,522 1,626 5,381 Total loans and securities 39,810 2,060 10,211 2,c6o 3,188 2,587 2,100 6,649 1,477 869 1,564 1,648 5,397 Cash items in process of collection 7,628 529 1,407 477 581 573 602 1,312 368 238 481 357 703 Bank premises 102 3 8 3 6 5 20 21 6 3 6 11 10 Other assets 767 38 197 4o 65 43 44 113 28 17 35 . 40 107 TOTAL ASSETS 62,632 3,515 15,282 3,410 5,097 4,475 3,528 10,682 2,380 1,365 2,602 2,470 7,826 — - . 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 OK JUNE 30, 1965 r San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Fran York delphia land mond Louis apolis City Dallas cisco (In millions3 of dollars) L I A B I L I T I ES Federal Reserve notes 35,444 2,120 8,095 2,092 3,009 3,102 2,029 6,433 1,380 667 1,367 1,108 4,042 Deposits: Member "bank reserves 18,229 765 5,390 783 1,378 730 895 2,795 569 4l4 758 909 2,843 U.S. Treasurer-general account 672 47 108 24 41 83 32 76 82 40 46 5? 36 Foreign 179 8 1/61 9 14 8 10 23 5 4 7 9 21 Other 198 ~123 1 2 3 1 1 3 1 2 2 59 Total deposits ; 19,278 820 5,682 817 1,435 824 938 2,895 659 459 813" 977 2,959 Deferred availability cash items 6,279 496 1,074 413 510 464 294 608 467 1,115 285 202 351 Other liabilities and accrued dividends 443 22 118 24 38 24 25 66 16 10 19 23 58 TOTAL LIABILITIES 61,444 3,458 14,969 3,346 4,992 4,414 3,459 10,509 2,340 1,338 2,550 27402 7,667 CAPITAL ACCOUNTS Capital paid in 5M 26 142 29 48 27 32 78 18 13 24 32 72 Surplus 524 25 137 29 hi 26 31 75 18 12 23 31 70 Other capital accounts 123 6 3± 6 10 8 6 20 4 2 5 5 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 62,632 3,515 15,282 3,410 -h£&L _. Jt>h7l_. i^5_28__ _10,_682_ 2^38q_ 1,365 2,602 2,470 7,826. Contingent liability on accept ances purchased for foreign c orre spondent s _ 157 8 Z/kl 9_ 14 8 9_ 22 5_ 4 L 9_ 21 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 37,342 2,200 8,465 2,169 3,209 3,222 2,165 6,818 1,470 706 1,428 1,200 4,290 Collateral for F. R. notes: Gold certificate account 6,295 420 1,000 446655 550000 885533 44o0o0 11,,110000 295 122 225 180 735 Eligible paper 28 27 — — — — 1 U. S. Government securities 32,095 1,805 7,700 1,800 2,775 2,4io 1,850 5,900 1,260 595 1,250 1,050 3,700. Total collateral 38,418 2,225 8,700 2,292 3,275 3,263 2,250 7,000 1,556 717 1,475 1,230 4,435 l/ After deducting $118 million" participations of other Federal Reserve Banks. * Less than $500,000- 2/ After deducting $116 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis