H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••iiSSSsi-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks II.4.l" For immediate release September. 2, 1965 The average of daily figures of total member bank reserves held during the week ended September 1 increased a net of $63 million to $21,581 million. Estimated currency and coin of member banks increased $102 million and their reserve balances at the Federal Reserve Banks decreased $39 million. Estimated required reserves increased $l6 million; and estimated excess reserves increased $47 million to $450 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $87 million compared with the revised net borrowed figure of $l43 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $265 million in Federal Reserve float, $85 million in U. S. Government securities held under repurchase agreements, and increases of $43 million in Treasury deposits with Federal Reserve Banks, and $22 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $103 million in U. S. Government securities bought outright, and decreases of $l8C million in "other" F. R. accounts (net), and $64 million in currency in circulation. Total Reserve Bank credit decreased $239 million. As of Wednesday, September 1, holdings of U. 3. Government securities bought outright were $27 million lower than a week earlier, U. 3. Government securities held under repurchase agreements were $174 million lower, and member bank borrowings were $323 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended[Wednesday, Reserve Bank credit, Sept. 1, Aug. 25, Sept. 2, I Sept. 1, and related items__ 1965 . 1965 196.4 j 1965_ (in millions of dollars) Reserve Bank credit: U. S.. Government securities- Bought outright --System account 39,074 +103 +3,930 3ft,999 Held under repurchase agreements 78 - 85 + 60 Acceptances-- Bought outright 36 1 36 Held under repurchase agreements 19 + 19 16 18 Discounts and advances-- Member bank borrowings 537 9 + 222 131 Other - l Float 1,427 -265 " 24 1,284 Total Reserve Bank credit 4.1,170 -239 +4,202 55,468 Gold stock 13,858 -1,6o4 13,859 Treasury currency outstanding 5,454 + 13 - 118 5,463 60,483 ^224" +2,481 59,790 Currency in circulation 4o,055 - 64 +2,o48 40,170 Treasury cash holdings 815 - 9 + 392 815 Treasury deposits with F- R. Banks 951 + 43 + 93 1,260 Foreign deposits vith F- R. Banks 240 + 22 + 76 207 Other deposits with F- R. Banks 177 - 1 - 14 181 Other F. R. accounts (net) 398 -180 - 801 375 42,636 -I87 ^1779^ 43,cc8 Member bank reserves: With Federal Reserve Banks 17,846 - 39 + 687 16,782 Currency and coin (estimated) 3.735 +102 + 363 3,862 Total reserves held 21,581 +1,050 20,644 Required reserves (estimated) 21,131 + 16 + 99B 21,231 Excess reserves (estimated) 450 + 47 + 52 -587 On September 1, 1965, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7^265 million, an increase of $119 million for the week and a decrease of $9^4 million from the comparable Digitized for FRASER http://fraser.sdtlaotuisefe da.o rgy/e ar ago. Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CCNTITICN OF THE TWELVE FEDERAL RESERVE BANKS / (in millions of dollars) Change since Sept. 1, Aug. 25, Sept. 2, A S S E TS —J26S- i265 12Q_ Gold certificate account 11,950 - 1 -1 775 Redemption fund for F. R. notes 1^646 +7 + '1B3 Total gold certificate reserves 13 5§6 — ~1 592 Cash ('6 9-5*) 113 +2 - k3 Discounts and advances 131 -323 32 Acceptances: Bought outright 36 „ ? Held under repurchase agreements l8 + 18 6 U. S. Government securities: Bought outright-- Bills 7/773 - 95 +2,661 Certificates Notes 2^,759 +9 - 278 Bonds 6^467 + 59 +l,te Total bought outright 3^,999 - 27 +3,805 Held under repurchase agreements — -174 - 123 Total U. S. Government securities 38,999 -201 +3,682 Total loans and securities 39,184 -506 +3,706 Cash items in process of collection (1,476) 5,847 +192 + 468 Bank premises 102 Other assets 1,091 +192 + 610 TOTAL ASSETS (2A71) 59,933 ^120 +3,1^9" L I A B I L I T I ES Federal Reserve notes (695) 35,372 + 30 +2,525 Deposits: Member bank reserves 16,782 -837 - 197 U. S. Treasurer--general account 1,260 +448 + 529 Foreign 207 - 10 + 30 Other 181 0 Total deposits l£^30 -402 + 360 Deferred availability cash items (i,W 4,5b3 +225 + 450 Other liabilities and accrued dividends 364 + 2 + 261 TOTAL LIABILITIES (2,171 58,729 -145 +3,596 C A P I T AL A C C O U N TS Capital paid in 544 -- + 27 Surplus 524 -- - 466 Other capital accounts 136 + 25 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,171) 59,933 -120 +3,149 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 37-7$ -.1$ - 7«8$ Contingent liability on acceptances purchased for foreign correspondents ikk - 3 + 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, ''gSFIEMFERJL, 19^5 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. 8> Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 121 27 995 -391 16 days to 90 days 10 27 10,189 + 93 91 days to 1 year — -- 17,648 + 29 Over 1 year to 5 years — 8,378 + 37 Over 5 years to 10 years ITS -« l,4o8 + 21 Over 10 years — -- 381 + 10 Total 131 55 3F7999 -201 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FED RESERVE BANK ON SEPTEMBER 1, 1965 San New Phila Cleve Rich St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco fin millions of dollars) A S S E TS Gold certificate account 11,950 642 2,496 701 1,067 1,183 646 2,330 409 178 480 305 1,513 Redemption fund for F. R. notes 1,646 94 384 90 l4i 137 92 304 62 31 63 55 193 Total gold certificate reserves 13,596" 73b 2,880 791 1,208 1,320 738 2,634 "471 ~~ 209 543 360 1,706 F. R. notes of other Banks 695 73 146 60 37 71 71 69 27 32 23 28 58 Other cash 113 10 17 5 9 7 11 23 6 4 4 5 12 Discounts and advances 131 6 25 10 11 19 13 12 11 Acceptances: Bought outright 36 36 Held under repurchase agreements 18 18 U. S. Government securities: Bought outright-- Bills 7,773 400 1,907 403 64i 528 426 1,298 288 172 313 324 1,073 Certificates Notes 24,759 1,272 6,072 l, 284 2,04l 1,682 1,360 4,136 919 548 996 1,031 3,418 Bonds __6,467 33_2_ _1^86 336 533 439 355 1^080 240 144 260 269 893 Total 38,999 2,004 9,565 2,023 3,215 2,649 2,l4l ""6,5i4 "1,447" ' 1,569 ~1~,624 ~" 57385 Held under repurchase agreements Total U. S. Government securities _3A99£ _2,_004 _9,565. __2_,023 3,215 _2,_649_ _2 z l4l __ _JL,5l4___ _iiit!L7_._ 86U_._ 1_;569_. 1^624_ .5,384 Total loans and securities 39,184 2,010 9,644 2,025 3,225 2,664 2,152 6,533 1,460 871 1,581 1,635 5,384 Cash items in process of collection 7,323 499 1,375 452 523 54l 622 1,239 342 24l 444 363 682 Bank premises 102 3 8 3 5 5 20 21 7 3 6 11 10 Other assets 53 283 59 96 59 63 159 37 24 50 . 59 l49 .„..1/091 TOTAL ASSETS 62,104 3,384 14,353 3,395 5,103 4,667 3,677 10,678 2,350 1,384 2,651 2,46l 8,001 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OP CONDITION OF EACH FEDERAL RESERVE. BANK ON SEPTEMBER 1, 1965 1 J "" '" "S"a n" 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 36,067 2,147 8,147 2,120 3,073 3,183 2,066 6,598 1,387 667 1,390 1,141 4,148 Deposits: Member "bank reserves 16,782 600 4,303 705 1,272 833 939 2,652 574 422 757 867 2,858 U.S. Treasurer-general account 1,260 75 251 84 129 113 78 130 61 59 90 56 134 Foreign . 207 10 1/55 12 18 10 12 29 7 5 9 12 28 Cther I 181 116 1 1 6 ? 1 * * 3 1 Total deposits J. 18,430 ; 685 4,725 802 1,420 962 1,031 2,812 642 486 859 936 3,070 Deferred availability casia jstems 1 6,039 476 1,073 390 471 439 489 1,036 267 195 334 296 573 Other liabilities and accrued dividends 364 ' 18 92 19 32 20 21 56 13 9 16 19 49 TOTAL LIABILITIES j 60,900 3,326 14,037 3,331 4,996 4,6o4 3,607 10,502 2,309 1,357 2,599 2,392 7,840 CAPITAL ACCOUNTS 1 Capital paid in 544 26 143 29 49 27 32 78 19 13 24 32 72 Surplus 1 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 136 7 36 6 11 10 7 23 4 2 5 6 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS "62,io4 _3_,_384_ 14,353 3,395 5,103 4,667 _3^6lL_ 10,_6l8_ 2,350 1,384 2,651 2,461 8,001 Contingent liability en accept ances purchased for foreign corre spondent s | 144 7 2/38 8 13 7 9 21 5 3 6 8 1£_ FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 2,265 8,526 2,211 3,278 3,321 2,216 7,027 1,462 706 1,449 1,243 4,430 Collateral for F. R. notes: Gold certificate account 420 1,000 465 600 803 4oo 1,100 295 127 225 180 735 Eligible paper 1 13 U. S. Government securities 1,865 7,700 1,800 2,775 2,56C 1,850 6,100 1,260 595 1,250 1,100 4,000 Total collateral 2,265 8,700 2,266 3,375 3,363 2,250 7,200 1,568 722 1,475 1,280 4,735 l/ After deducting $152 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $106 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis