H.4.1 Factors Affecting Reserve Balances of Depository Institutions

••&°y&,: F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks R.k.i For immediate release October 28, 1965 The average of daily figures of total member bank reserves held during the week ended October 27 decreased a net of $412 million to $21,86l million. Estimated currency and coin of member banks increased $74 million and their reserve balances at the Federal Reserve Banks decreased $486 million. Estimated required reserves decreased $129 million; and estimated excess reserves decreased $283 million to $201 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $137 million compared with the revised net borrowed figure of $107 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $29*1- million in Federal Reserve float, $253 million in member bank borrowings, and $132 million in U. S. Government securities bought outright.^ The principal offsetting changes were decreases cf $119 million in currency in circulation, $78 million in Treasury deposits with Federal Reserve Banks, and increases of $21 million in acceptances held under repurchase agreements. Total Reserve Bank credit decreased $705 million. As of Wednesday, October 27, holdings of U. S. Government securities bought outright were $38 million higher than a week earlier, and member bank borrowings were $48 million lower. Averages of daily figures Member bank reserves, Week ended Change from week" ended Wednesday, Reserve Bank credit, Oct. 27, Oct. 20, Oct. 28," Oct. 27, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 39,292 -132 +4,381 39,238 Held under repurchase agreements - 62 Acceptances— Bought outright 4o 3 4i Held under repurchase agreements + 21 6 18 Discounts and advances— 21 Member bank borrowings -253 + 108 333 Other 338 + l4 + 31 33 Float 1,916 -294 z 79 1,443 Total Reserve Bank credit kl,6k2 -705 +4,439 4l,ic6 Gold stock 13,857 - 1 -1,605 13,859 Treasury currency outstanding 5,50^ + 3 - 9 5,502 61,002 -703 +2,824 60,467 Currency in circulation 40,729 -119 +2,396 40,770 Treasury cash holdings 803 - 7 + 336 803 Treasury deposits with F.R. Banks 975 - 78 + 165 1,085 Foreign deposits with F.R. Banks 161 - 9 + 24 153 Other deposits with F.R. Banks 196 - 8 + 11 196 Other F.R. accounts (net) 81 + 3 - 844 73 42,944 -218 +2,087 43, C80 Member bank reserves: With Federal Reserve Banks 18,058 -486 + 737 17,387 Currency and coin (estimated) 3.803 + 74 + 355 4,218 Total reserves held 21,861 -412 +1,092 21,605 Required reserves (estimated) 21,660 -129 +1,195 21,724 Excess reserves (estimated) 201 -283 - 103 -•119 On October 27, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,099 million, an increase of $96 million for the week and a decrease of $422 million from the comparable date Digitized for FRASER a vear aso. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. hi 1(a) CONSOLIDATED 3TATElM$ 0£ CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Oct. 27, Oct. 20, Oct. 28, 1965 1965 196_4 A S S E TS Gold certificate account 11,905 - 12 -1,780 Redemption fund for F. R, notes 1,677 + 18 + 177 Total gold certificate reserves 13,582 +~6" -1,603 Cash (704) 137 + 11 17 Discounts and advances 366 - 48 137 Acceptances: Bought outright 4l + 2 + 3 Held under repurchase agreements 18 + 18 - 26 U. S. Government securities: Bought outright-- Bills 7,860 + 38 +2,997 Certificates Notes 24,828 - 305 Bonds 6,550 +1,328 Total bought outright 39,238 + 38 +4,020 Held under repurchase agreements Total U, S. Government securities 39,238 +18 +4,020 Total loans and securities 39,663 + 10 +3,860 Cash items in process of collection (1,640) 6,230 -936 + 474 Bank premises 103 + 1 + 1 Other assets 1,300 + 22 + 508 TOTAL ASSETS (2,344) 61,015 -886 +3,223 L I A B I L I T I ES Federal Reserve notes (704) 35,931 - 5^ +2,718 Deposits: Member bank reserves 17,387 -526 - 93 IT* S. Treasurer--general account 1,085 +194 + 375 Foreign 153 - 9 + 2 Other 196 - 5 + 13 Total deposits 18,821 -3^6 + 297 Deferred availability cash items (1,640) 4,787 -507 + 482 Other liabilities and accrued dividends 286 - 5 + 182 TOTAL LIABILITIES (2,344) 59,825 -912 +3,679 C A P I T AL A C C O U N TS Capital paid in 546 + 25 Surplus 524 - 466 Other capital accounts 120 + 26 - 15. TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,3^0 61,015 -886 +3,223 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 37-1$ " 7-8$ Contingent liability on acceptances purchased for foreign correspondents 155 ~~ + 27 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pa^es* MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 27, 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 329 28 699 ~3^5 16 days to 90 days 37 31 9,855 +37^ 91 days to 1 year -- — 18,366 +9 Over 1 year to 5 years — -- 8,U84 Over 5 years to 10 years — — 1>^9 Over 10 years — — 385 " Total 366 59 39,238 + 38 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 OCTOBER 2J, 1965 San Nev Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollL ars) A S S E TS Gold certificate account 11,905 797 2,285 660 1,003 1,120 718 2,376 570 353 529 234 1,260 Redemption fund for F. R. notes 1,677 95 387 90 149 140 95 311 63 31 65 55 196 Total gold certificate reserves 13,582 892 2,672 750 1,152 1,260 813 2,687 633 384 594 289 1,456 F. R« notes of other Banks 70^ 67 162 46 35 85 59 67 23 32 27 36 65 Other cash 137 12 19 7 11 11 12 24 7 4 6 5 19 Discounts and advances 366 5 115 12 4 35 13 58 17 18 21 15 53 Acceptances: Bought outright 41 _- 41 — — -- __ -- -- -- -- -- -- Held under repurchase agreements 18 -- 18 -- -- -- -- -- -- — -- — -- U. S. Government securities: Bought outright— Bills 7,860 407 1,990 406 656 534 420 1,278 289 142 305 328 1,105 Certificates «.. -« -- -- -._ -- -- -- -- -- -- -- -- Notes 24,828 1,286 6,286 1,283 2,073 1,684 1,326 4,036 913 450 965 1,038 3,488 Bonds 6,550 339 1,658 338 547 444 350 1,065 241 119 255 274 920 Total 39,235" 2,032 9,934 2,027 3,2fS" 2,662~ 2,096"" 67379" 1,525 i;64"o~ 5,513 Held under repurchase agreements -- -- __ — -- — -- -- -- -- — — -- Total U. S. Government securities 39,238 2,032 9,934 2,027 3,276 2,662 2,096 6,379 1,443 711 1,525 l,64o 5,513 Total loans and securities 39,663 1 2,037 10,108 2,039 3,28o 2,697 2,109 6,437 1,460 729 1,546 1,655 5,566 Cash items in -process of 7,870 521 1,347 467 554 642 644 1,315 393 261 498 444 784 collection Bank premises 103 3 8 3 5 5 20 21 7 3 7 11 10 Other assets „JL>3co 62_ 345 70 114 7JL 74_ 188 45_ 28 58 68_ 177 TOTAL ASSETS 63,359 3,594 14,661 3,382 5,151 4,771 3,731 10,739 2,568 1,441 2,736 2,508 8,077 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 OCTOBER 27, I965 —" —-• 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 36,635 2,179 8,231 2,140 3,132 3,278 2,125 6,716 1,401 682 1,399 1,155 4,197 Deposits: Member bank reserves 17,387 763 4,726 699 1,311 772 912 2,612 657 439 797 871 2,828 U. S. Treasurer-general account 1,085 75 110 55 75 113 84 93 130 64 92 64 130 Foreign 153 8 1/35 9 14 8 9 23 5 4 7 9 22 Other 196 * 131 1 2 4 2 1 1 * 2 1 51 Total deposits 18,821 8T6" 5,002 764 897 1,"007 2,729~ __ _____ 945" 3,031 1,-402' 793 """898 Deferred availability cash items 6,427 498 l,o4i 400 517 513 1,077 220 326 652 Other liabilities and accrued 485 323 375 dividends 286 14 15 26 17 16 44 10 5_ 12 14 3_L_ 75 TOTAL LIABILITIES 62,169 3,537 14,349 3,319 5,0~45 4,709 3,661 10,566 2,527 1,414 ""2,684 2,440 7,918 CAPITAL ACCOUNTS Capital paid in 546 26 143 29 49 28 33 78 19 13 24 32 72 Surplus 524 2 1 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 120 32 5 10 4 2 5 17 8 6 20 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 63,359 3,594 14,661 3,382 _5/l.5i„ . Am •10x132-._ 2,568_ l,44l :rJ____^r ^ -_°J_ 8,077__ Contingent liability on accept ances purchased for foreign _ correspondents 155„ X_. . J-^iO _ 9_ „ _ 1 _ 8__ __ 9 _ 22. _ L_. 4_._ 7__ 9___ ______ FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 38,643 2,278 8,627 2,218 3,340 3,411 2,269 7,092 1,495 718 1,462 1,251 4,482 Collateral for F. R. notes: Gold certificate account 6,470 440 1,000 465 600 853 450 1,100 295 127 225 180 735 Eligible paper 26 10 16 U. S. Government securities 33,270 . 1,865 7,900 1,800 2,950 2,590 1,850 6,100 1,260 605 1,250 1,100 4,000 Total collateral 39,766 2,305 8,900 2,275 3,550 3,443 2,300 7,200 1,571 732 1,475 1,280 4,735 l/~After deducting"1j5il8 million participations of" other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $115 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis