H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•„o°U°^.v 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 29, 1965 The average of daily figures of total member bank reserves held during the week ended July 28 decreased a net of 075 million to 021,590 million. Estimated currency and coin of member banks increased 057 million and their reserve balances at the Federal Reserve Banks decreased 0132 million. Estimated required reserves decreased 0205 million; and estimated excess reserves increased 0130 million to 0325 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by 015**- million, compared with the revised net borrowed figure of 0230 mil lion the week before. The principal change reducing average reserve balances with Federal Reserve Banks was a decrease of 0532 million in Federal Reserve float. The principal offsetting changes were increases of 0116 million in U. S. Government securities held under repurchase agreements, 054 million in member bank borrowings, and 033 million in U. S. Government securities bought outright, and a decrease of 0164 million in currency in circulation. Total Reserve Bank credit decreased 033^ million. As of Wednesday, July 28, holdings of U. S. Government securities bought outright were 038 million higher than a week earlier, U. S. Government securities held under repurchase agreements were 021^ million higher, and member bank borrowings were 0300 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 28, July 21, July 29, July 28, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 38,799 + 33 +4,442 38,804 Held under repurchase agreements 214 +116 + 53 427 Acceptances-- Bought outright 36 4 36 Held under repurchase agreements 18 Discounts and advances-- Member bank borrowings 479 + 54 + 300 571 Other -- - 2 Float 1,674 -532 + 48 1,307 Total Reserve Bank credit 41,201 -334 +4,820 41,1^5 Gold stock 13,923 - 11 -1,540 13,859 Treasury currency outstanding 5,408 - 4 - 159 5,411 60,532 ^34~S +3,121 £o~74"l5 Currency in circulation 39,901 -164 +2,087 39,931 Treasury cash holdings 792 + 7 + 352 793 Treasury deposits with F. R. Banks 873 - 15 + 162 799 Foreign deposits with F. R. Banks 156 - 23 + 23 157 Other deposits with F. R. Banks 186 - 8 4 192 Other F. R. accounts (net) 710 - 15 - 4 8 705 3 42,619 -217 +2,183 42,577 Member bank reserves: With Federal Reserve Banks 17,914 -132 + 939 Currency and coin (estimated) 3,676 + 57 + 326 Total reserves held 21,590 - 75 +1,265 Required reserves (estimated) 21,265 -205 +1,308 Excess reserves (estimated) 325 +130 - 4 3 On July 28, I965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7*192 million, a decrease of y89 million for the week and a decrease of $937 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CCNSOLtliA^D B$fcM$ifo OF CONDITld OF THE TiffiltfE $f pfeftftL RESERVE BAN&3 (In millions of dollars) Change si&ce July 28, July 21, July 29 > 1965 1965 1964 A S S E TS Gold certificate account 11,962 - 72 -1,769 Redemption fund for F. R. notes 1,629 + 4 + 172 Total gold certificate reserves ^~TB * 13,591 -1,597 Cash (637) 120 + 2 - 26 Discounts and advances 571 +300 + 283 Acceptances: Bought outright 36 -- 5 Held under repurchase agreements -- __ 20 U. S. Government securities: Bought outright— Bills 7,683 + 38 +2,546 Certificates -- -- -- Notes 25,737 -- + 825 Bonds 5,384 __ + 673 Total bought outright 38,8c4 + 38 +4,044 Held under repurchase agreements 427 +214 + 375 Total U. S* Government securities 39,231 +252 +4,419 Total loans and securities 39,838 +552 +4,677 Cash items in process of collection (1,535) 5,674 -848 + 463 Bank premises 102 + 1 1 Other assets 774 + 35 + 295 TOTAL ASSETS (2,172) 60,099 -326 +3,811 L I A B I L I T I ES Federal Reserve notes (637) 35,165 85 +2,554 Deposits: Member bank reserves 17,8^8 +107 + 815 U. S. Treasurer--general account 799 +129 + 125 Foreign 157 + 6 + 17 Other 192 - 10 4 Total deposits 18,986 +232 + 953 Deferred availability cash items (1,535) 4,367 -504 + 451 Other liabilities and accrued dividends 396 + 5 + 301 TOTAL LIABILITIES (2,172) 58,914 -352 -.-4,259 C A P I T AL A C C O U N TS Capital paid in ~" 5^2 + 26 Surplus 52^ -_ - 466 Other capital accounts 119 ^+ 2W6 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,172) 60,C99 +3,811 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 38.C# -.1$ - 7-9$ Contingent liability on acceptances purchased for foreign correspondents 152 - 3 + 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 28, 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 Discounts and Changes advancei S Acceptances Holdings during week Within 15 days 563 8 1,698 +l8<? 16 days to 90 days 8 28 7,^70 + 73 91 days to 1 year -_ „ 17,965 - ic Over 1 year to 5 years -- 10,136 Over 5 years to 10 yeatrrs s -- l,W?9 Cr/er 10 years -- -- 371 Total 571 36 39,231 +252 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT CF CONDITION OF EACH FEIERAL RESERVE BANK ON JULY 28, 1965 " 1 San "•"" Total Boston New Phila Cleve Rich- [ Atlanta Chicago St. Minne- Kansas Tallas Fran York delphia land mend J Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 11,962 623 2,710 728 1,027 1,114 697 2,198 447 175 494 338 1,411 Redemption fund for F R* notes 1,629 93 387 89 142 131 93 296 63 30 63 53 189 Total gold certificate reserves 13,591 716 3,097 817 1,169 1,245 790 2,494 510 205 557 391 1,600 F« R. notes of other Banks 637 57 165 41 37 65 61 55 26 26 18 28 58 Other cash 120 9 22 4 9 10 10 24 6 4 6 5 11 Discounts and advances 571 8 87 17 2 34 36 187 13 9 56 7 115 Acceptances: Bought outright 1 36 36 -- — -- — -- — U. S- Government securities: Bought outright — Bills ' 7,683 404 1,907 4oi 626 509 410 1,284 292 164 301 322 1,063 Certificates — -._ -- — -- -- -- -- — — -- — -- Notes 25,737 1,356 6,390 1,345 2,096 1,704 1,37^ 4,302 977 548 1,007 1,076 3,562 Bonds 5,384 284 1,337 28l_ 438 356 288 900 204 115 211 225 745 Total 38,804 2,o44 9,634 2,""027 "' 3,160' 2,569 2,072 " 6,486 1,473 " 827 " 1,519 " 1,623 " 5,370 Eeld under repurchase agreements 427 -- 427 -- -- -- — — -- -- „ — -- Total U S. Government securities „2j>0_44 JL0,C6l 2,027 3,160_ „.2^6J_ _2,0I2_ _ill3__ 821 1^_519_._ 1,623 5,370 Total loans and securities 39,838 2,052 10,184 2,044 3,162 2,603 2,108 6,673 1,486 836 1,575 1,630 5,485 Cash items in process of collection , 7,209 514 1,232 432 525 54l 626 1,211 343 236 460 401 688 Bank premises 102 3 8 3 5 5 20 21 7 3 6 11 10 Cther assets 1 k 38 197 41 66 44 43 117 27 18 37_ 39 107 17 TOTAL ASSETS 62,271 3,389 14,905 3,382 4,973 4,513 3,658 10,595 2,405 1,328 2,659 2,505 7,959 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 JULY 28, 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) L I A B I L I T I ES Federal Reserve notes 35,802 2,l4l 8,143 2,114 3,052 3,137 2,043 6,524 1,385 672 1,378 1,125 4,088 Deposits: Member bank reserves 17,838 632 5,158 744 1,235 765 953 2,746 618 370 787 899 2,931 U.S. Treasurer-general account 799 56 58 61 66 67 85 76 66 46 75 57 86 Foreign 157 7 iA7 8 13 8 9 21 5 3 7 9 20 Other 192 1 130 1 4 1 1 * 1 2 l 50 Total deposits 18,986 696 5,393 6~i4~~ S4T~ '~i7o58 "2,854 ~ 689 " 420 871 966 3~,C67 Deferred availability cash items 5,902 476 950 369 467 450 476 996 277 199 342 326 574 Other liabilities and accrued dividends 396 19 ice 21 35 21 22 58 14 9 17 20 52 TOTAL LIABILITIES 61,086 3,332 "14;594 " 3,318 4,868 4,452 3,589 10,422 2,365 1,300 2,608 "2,437 7,601 CAPITAL ACCOUNTS Capital paid in 542 26 142 29 49 27 32 78 18 13 24 32 72 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 119_ 6_ 32 _6_ 9_ e_ 6 _ J0__ 4_ 3_ k_ 5_ 16__ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 62,271 ii3&9 14,905 3,382 _4,_973_ _4 i 5l3__ - 3,658 _J ftsiPJL. Jr^L .AL328_ _2,_659_ = _| i |0| == 7,959 Contingent liability on accept ances purchased for foreign c crre spondent s 152 7 2/40 8 14 8 9 22 5 3 7 9_ 20 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 37,864 2,238 8,58C 2,196 3,26C 3,274 2,196 6,925 1,473 704 1,433 1,225 4,378 Collateral for F. R. notes: Geld certificate account 1 6,43c 420 1, CCC 465 600 883 4oo 1,100 295 127 225 160 735 Eligible paper 29 -- -- 16 -- -- -- — 13 -- -- -- — U. S. Government securities 32,715 J-z^JL ...7iI°<L 1,800 1>U1- . 2,J+4o__ !>_e5£. 6,10c _1,26C _ 591 __ 1z25°_ _1,1C_0___ 4^000 Total collateral 39,174 2,265 8,700 2,281 3,375 3,323 2,250 7,2C0 1,568 722 1,475 1,28c 4,735 l/ After deducting $110 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $112 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis