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 For immediate release July 22, 1965 The average of daily figures of total member bank reserves held during the week ended July 21 decreased $U60 million to $21,6V3 million. Estimated currency and coin of member banks decreased $15 million and their reserve balances at the Federal Reserve Banks decreased $W-5 million. Estimated required reserves decreased $126 million; and estimated excess reserves decreased $33^ million to $191 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $23^ million, compared with the revised net borrowed figure of $95 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $485 million in U- S. Government securities held under repurchase agreements, $221 million in U. S- Government securities bought outright, and $195 million in member bank borrowings, and increases of $46 million in Treasury deposits with Federal Reserve Banks, $33 million in foreign deposits with Federal Reserve Banks, and $23 million in Treasury cash holdings. The principal offsetting changes were an increase of $323 million in Federal Reserve float, and decreases of $136 million in Currency in circulation and $104 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $593 million. As of Wednesday, July 21, holdings of U. S- Government securities bought outright were unchanged from a week earlier, U. 3. Government securities held under repurchase agreements were $88 million lower, and member bank borrowings were $59 million higher. Average; s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 21, July 14, July 22, July 21, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 38,766 -221 +^,37^ 38,766 Held under repurchase agreements 98 -485 + 98 213 Acceptances— Bought outright 38 - 2 4 36 Held under repurchase agreements -- - 12 -- -- Tiscounts and advances— Member bank borrowings 425 -195 + 266 271 Other 2 - 1 + 2 -- Float 2, 206 +323 + 11 1,651 Total Reserve Bank credit SI7535 -593 +4,746 40,937 Gold stock 13,934 -.-. -1,529 13,93^ Treasury currency outstanding 5A12 + 7 - 154 5,M2 o07B80 ^W! +3,062 60,283 Currency in circulation 4o, C65 -136 +2,096 4o,024 Treasury cash holdings 785 + 23 + 341 796 Treasury deposits with P. R. Banks 688 + 46 + 118 670 Foreign deposits with F. R. Banks 179 + 33 + 48 151 Other deposits with P. R. Banks 19k - 2 + 3 202 Other P. R. accounts (net) 725 -104 - 433 710 42,836 -l4i +2,172 42,553 Member bank reserves: With Federal Reserve Banks I8,0k6 -445 + 892 17,731 Currency and coin (estimated) 3,597 - 15 + 322 3,927 Total reserves held 21,643 -460 +1,214 21,658 Required reserves (estimated) 21,452 -126 +1,301 21,476 Excess reserves (estimated) 191 -331* - 87 | 182 On July 21, 1965, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,28l million, a decrease of $72 million for the week and a decrease of $793 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

• 4-Ma) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS Change since July 21, July 14, July 22, 1965 1965 1964 A S S E TS Gold certificate account 12,034 - 4 -1,687 Redemption fund for F. R- notes 1,62S + 1 + 173 Total gold certificate reserves 13.659 - 3 -1,514 Cash (604) 118 + 10 - 20 Disccunts and advances 271 + 59 + 167 H.ccepuances • 36 - 2 5 Bought outright Held under repurchase agreements - 8 — U. S. Government securities: Bought outright — Bills 7,645 — +3,108 Certificates — -- -- Notes 25,737 -- + 825 Bonds 5,384 — + 673 Total "bought outright 38,766 — +4,606 Eeld under repurchase agreements 213 - 88 + 213 IH Total U. S* Government securities 38,979 +4,819 Total loans and securities 39,286 - 39 +4,981 Cash items in process of collection (1,688) 6,522 -742 + 620 Bank premises 101 - 1 2 Other assets 739 + 38 + 283 TOTAL ASGETS (2,292) 60,425 -737 +47355 L I A B I L I T I ES Federal Reserve notes (604) 35,250 -141 +2,584 Deposits: Member hank reserves 17,731 +131 +1,316 U. S. Treasurer—general account 670 -250 - 64 Foreign 151 - 5 + 21 Other 202 - 1 + 3 Total deposits 18,754 -125 +1,276 Deferred availability cash items (l,688) 4,871 -490 + 637 Other liabilities and accrued dividends "~ 391 - 5 + 302 TOTAL LIABILITIES (2,292) 5"97256" ^761 ++7799 C A P I T AL A C C O U N TS Capital paid in ' ~ 542 + 1 + 26 Surplus 524 - 466 Other capital accounts 93 + 23 - 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,292) 60,425 ±5351 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 38.1$ +.l/o - 7-7$ Contingent liability on acceptances purchased for foreign correspondents 155 - 1 + 15 * 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, JULY 21, 1965 (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 264 9 1,509 +133 16 days to 90 days 7 27 7,497 -228 91 days to 1 year 17,975 + 7 Over 1 year to 5 years 10,138 Over 5 years to 10 yeaIrTsS 1,489 Over 10 years 371 Total 27I 35 38,979 -""85 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 JULY 21, 1965 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 12,03^ 673 2,770 669 1,079 1,086 686 2,26l 4i9 195 443 296 1,457 Redemption fund for F. R- notes .1,625 94 390 90 143 123 23_ 297 60 30 6J_ __S2L_ 189 Total gold certificate reserves 13,659 767 3,160 759 1,222 1,209 779 2,558 479 225 506 349 1,646 P- R. notes of other Banks 60k 49 158 38 34 61 56 55 23 24 19 27 60 Other cash 118 9 21 4 9 9 10 24 6 4 6 5 11 Discounts and advances 271 42 31 9 i 6 18 50 5 10 35 5 59 Acceptances: Bought outright 36 36 U. S. Government securities: Bought outright— Bills 7,645 403 1,898 399 623 506 408 1,277 290 163 300 320 1,058 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 90c 204 115 211 225 745 Total 38,766 2,043 9,625 " 2,025 3,157 2,566 2,070 6,479 1,471 826 1,518 ""1,621 5,365 Held under repurchase agreements 213_ -- 213 Total IL S. Government securities 38,979 2,043 9,838 2,025 _3>I£7._ 2,566 2,070 6,479 1,471 826 1,518 1,621 5,365 Total loans and securities 39,286 2,085 9,905 2,034 3,158 2,572 2,088 6,529 1,476 836 1,553 1,626 5,424 Cash items in process of collection 8,210 529 1,460 466 600 649 688 i,4c6 383 259 554 396 820 Bank premises 101 3 8 3 5 5 20 21 6 3 6 11 10 Other assets 739j 37 188__ 39__ 43_ 42 112 27_ JL7_ 33„ 37 _ 103 TOTAL ASSETS 62,717 3,479 14,900 3,343 5,089 4,548 3,683 10,705 2,400 1,368 2,677 2,451 8,074 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h.1(c) STATEMENT OF COBT1TIOK OF EACH FEDERAL RESERVE BANK ON JULY 21, 1965 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) L I A B I L I T I ES Federal Reserve notes 35,85^ 2,1^9 8,153 2,119 3,055 3A32 2,0^5 6,523 1,390 67k 1,380 1,128 4,106 Deposits: Member "bank reserves IT,731 715 4,982 681 1,308 762 952 2,752 6l4 384 769 865 2,927 U.S. Treasurer-general account 670 42 98 46 63 52 61 37 ^5 44 44 93 Foreign 151 7 1/40 8 14 8 9 21 5 3 7 9 20 Other 202 * 130 1 -* 6 2 2 1 1 2 1 56 Total deposits 18,754 764 5,250 735 1,368 839 1,015 2,836 657 433 842 919 3,096 Deferred availability cash items 6,559 491 1,089 4c6 530 496 533 1,119 300 225 387 317 666 Other liabilities and accrued dividends 391 19 103 21 33 22 22 59 14 9 17 20 52 TOTAL LIABILITIES 61,558 3,423 1^,595 3,281 4,986 4,489 " 3,615 10,537 2,361 1,341 2,626 2,384 7,920 CAPITAL ACCOUNTS Capital paid in 542 26 142 29 49 27 32 78 18 13 24 32 72 Surplus 524 25 137 29 ^7 26 31 75 18 12 23 31 70 Other capital accounts 93 5 26 4 7 6 5 15 3 2 4 4 12 TOTAL LIABILITIES ANT CAPITAL ACCOUNTS 62,717 3,479 14,900 3,3^3 5,089 _A/5if8_ 3,683 10,705 2, too 1>368 _2*£IL_ _2>5l 8,074 Contingent liability on accept ances purchased for foreign correspondents _15_5_ J !/4i_. _9_ 14 _22_ _3_ J- -9- _23 FEEERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 37,896 2,243 8,571 2,203 3,260 3,272 2,199 6,925 1,475 707 1,^35 1,222 4,384 Collateral for F. R. notes: Geld certificate account 6,430 420 1,000 465 6co 883 4co 1,100 295 127 225 180 735 Eligible paper 14 9 5 U. S. Government securities 32,515 1,845 7,700 1,800 2,775 2,44o 1,850 5,900 1,260 595 1,250 1,100 4, CCQ Total collateral 38,959 2,265 8,700 2,274 3,375 3,323 2,250 7,000 1,560 722 1,475 1,280 4,735 1/ After deducting $111 million participations of ether Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ll4 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis