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 ft.k.l For immediate release November l8, 1965 The average of daily figures of total member bank reserves held during the week ended November 17 decreased a net of $36 million to $21,869 million. Estimated currency and coin of member banks increased $2l6 million and their reserve balances at the Federal Reserve Banks decreased $252 million. Estimated required reserves increased $102 million; and estimated excess reserves decreased $138 million to $291 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $198 million; the week before revised excess reserves were $95 million more than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $201 million in U. S. Government securities bought outright and an increase of $277 million in currency in circulation. The principal offsetting changes were increases of $155 million in member bank borrowings and $63 million in Federal Reserve float. Total Reserve Bank credit decreased $11 million. As of Wednesday, November 17, holdings of U. S. Government securities bought outright were unchanged from a week earlier. However, the maturity dis tribution of these holdings changed considerably, reflecting in part the exchange of $6,359 million Treasury notes maturing November 15, 19&5, for an equal amount of the new k-l/k$ notes maturing May 15, 1967* Member bank borrowings were $97 million higher. UNIVERSITY OF OREGON MOV &* ibb5 Averages of daily figures Member bank reserves, Week ended Change frcm week ended ' Wednesday, Reserve Bank credit, Nov. 17, Nov. 10, Nov. 18, Nov. 17, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account i*-o,o48 -201 +4,350 40,048 Held under repurchase agreements -~ - 4 - .215 -- Acceptances-- Bought outright 44 - 1 3 46 Held under repurchase agreements 3 - 21 19 -- Discounts and advance s — Member bank borrowings 489 +155 - 101 248 Other 33 - 2 + 30 33 Float 1.988 + 63 + 26 2,160 Total Reserve Bank credit 14.2,605 - 11 +4,073 42,535 Gold stock 13,859 + 1 -1,603 13,859 Treasury currency outstanding 5,540 + 8 + 4^ 5,54l 62,co4 - 3 +2,512 61,935 Currency in circulation 4l,389 +277 +2,4l4 4i,490 Treasury cash holdings 791 - 1 + 258 798 Treasury deposits with F. R. Banks 1,045 - 18 + 482 912 Foreign deposits with F. R. Banks 180 + 1 + 50 182 Other deposits with F. R. Banks 231 + 16 + 16 208 Other F. R. accounts (net) 234 - 27 - 916 320 43,870 +249 +2,304 43,910 Member bank reserves: With Federal Reserve Banks 18,134 -252 + 2C8 18,025 Currency and coin (estimated) 3,735 +2l6 + ^46 4,051 Total reserves held 21,869 - 36 + 554 22,076 Required reserves (estimated) 21,578 +102 + 854 21,782 Excess reserves (estimated) 291 -138 - 300 294 Cn November 17, 1965/ U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,171 million, an increase of $15^ million for the week and a decrease of $51 million frcm the comparable date a Digitized for FRASER http://fraser.ysteloaurisf ead.gorog./ Federal Reserve Bank of St. Louis

H«4,l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) _ Change, .since—- Nov* 17, Nov* 10,Nov* IS, 1965 126§ 1964 A S S E TS Gold certificate account 11,89k - 11 -1,756 Redemption fund for P. R. notes 1,677 + 4 + 153 Total gold certificate reserves 13,571 " 7 -1>603 Cash (5^8) 108 + 1 22 Discounts and advances 28l + 97 + 132 Acceptances: Bought outright 46 + 3 + ^ Held under repurchase agreements " - 23 49 U. S. Government securities: Bought outright— Bills 8,670 - +3,260 Certificates Notes 24,828 - - 305 Bonds •• .6,550.. " +1,328. Total bought outright 40,048 +4,283 Held under repurchase agreements " "" 50* Total U. S. Government securities 4o,o4tf — +3,7(9 40,375 -f 77 +3,866 Total loans and securities Cash items in process of collection (2,0l4) 8,125 +1,499 + 842 Bank premises 101 l Other assets 920 - 281 + 590 TOTAL ASSETS (2,562) 63,200 +1,289 +3>672 L I A B I L I T I ES Federal Reserve notes (548) 36,567 • 79 +2,643 Deposits: Member bank reserves 18,025 + 261 + l4o U# S* Treasurer--general account 912 - 278 + 487 Foreign 182 6 + 25 Other 208 Z 21 + 11 Total deposits 19.327 - 120 + 669 Deferred availability cash items (2,0l4) 5,965 +1,546 + 753 Other liabilities and accrued dividends 188 - 125 + 72 TOTAL LIABILITIES (2,562) 62,047 +1,380 +4,137 C A P I T AL A C C O U N TS Capital paid in ~ 546 + 25 Surplus 524 -- - 466 Other capital accounts 8^ QI - ,, ,24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,562) 63.200 +1,289 +3,672, Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 36. Qf> .1$ - 7-5$ Contingent liability on acceptances purchased for foreign correspondents l48 1 + 24 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on thejfollowing pages. MATURITY 'DISTRIBUTION' OF LOANS AND SECURITIES /'NOVEMBER 17, 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 244 11 1,093 -5,839 16 days to 90 days 37 35 5,569 +1,787 91 days to 1 year -- 17,466 -1,530 Over 1 year to 5 yearrss — 14,066 +5,582 Over 5 years to 10 yesaarrss -- 1,449 -- Over 10 years 385 --. Total 28l~ 46 40,048 -- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIOR OF EACH FEDERAL RESERVE BANK ON NOVEMBER 17, I965 H.4.I(D; New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) A S S E TS Gold certificate account 11,894 660 2,662 716 1,080 1,148 71^ 2,174 383 178 643 380 1,156 Redemption fund for F. R. notes 1,677 9^ 3SL 20. 147__ 138 95_ 310 63 31 64 56 195 Total gold certificate reserves 13,571 754 3,056 806 1,227 1,286 809 2,484 446 209 707" 436 1,351 F. R. notes of other Banks 548 50 117 30 24 64 5^ 53 19 26 25 35 51 Other cash 108 8 16 5 8 7 10 17 7 4 7 6 13 Discounts and advances 281 64 30 32 4 28 22 50 8 20 17 2 4 Acceptances: Bought outright 46 46 U. S. Government securities: Bought outright-- Bills 8,670 ! 454 2,111- 440 722 587 478 1,453 33^ 186 294 348 1,263 Certificates Notes 24,828 ! 1,303 6,044 1,260 2,068 1,679 1,370 4,160 956 532 840 997 3,619 Bonds _6,5_50 i 3*A 1,52!!: 13_2__5>5 _ ^3_ 362 .JaP-28. J52 140 222 263 __i55 Total 40,048 j-2,161 9,7^9 2,032 3,335 2;709 2,210 6,711 1. ,542" ^858" 1,356 1,608 5,837 Held under repurchase agreements _m Total_U. S. Government securities JtCVQk8_|_2^lQl- 3>3k9. 2^032- .3,335 2-*7Q9_ 2^m._.£ail 1*5.^2. . 1*356—1,608 „5-,83J Total loans and securities 40,375 ! 2,165 9,825 2,064 3,339 2,737 2,232 6,761 1,550 878 1,373 1,610 5,841 Cash items in process of collection 10,139 683 1,924 631 736 818 797 1,699 509 330 611 49c 911 Bank premises 101; 3 8 3 5 5 20 21 7 3 6 11 9 Other assets _ -950 ' . 44 246 _51_ £1. _47 52 131_ __3i. 22 41. .Ji9_ 125_ TOTAL ASSETS ! 65,762 j 3,707 15,192 3,590 5,^20 4,964 3,97^ 11,166 2,569 1,472 2,770 2,637 8,301 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 17, I965 1 San New Phila Cleve Rich St. Minne Kansas ' Total iBoston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City 1 cisco t (In millionsj of dol]. ars) L I A B I L I T I ES Federal Reserve notes 37,115 2,207 8,377 2,180 3,175 3,306 2,172 6,785 1,416 685 1,409 1,161 4,242 Deposits: Member "bank reserves 18,025 ' 755 4,731 728 1,403 858 1,023 2,771 616 425 792 963 2,960 U.S. Treasurer-general account 912 i 50 183 57 58 69 60 59 93 57 72 51 103 Foreign 182 8 1/60 9 15 8 10 23 6 4 7 10 22 Other 208 : 1 125 1 * 6 2 4 1 6 3 1 58 Total deposits 19,327 8l4 5,099 795 1,476 94l 1,095 2,857 716 492 874 1,025 3,143 Deferred availability cash items 7,979 620 1,369 544 650 645 628 1,326 390 263 430 378 736 Other liabilities and accrued dividends 188 10 46 10 16 12 10 31 7 5 7 7 27 TOTAL LIABILITIES 64,609 3,651 14,891 3,529 5,317 4,904 3,905 10,999 2,529 1,445 2,720 2,571 8,l48 CAPITAL ACCOUNTS Capital paid in 546 26 143 29 49 28 33 78 19 13 24 32 72 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 83 5 21 3 7 6 5 14 3 2 3 3 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ; 65,762 3,707 15,19.2 3,590 5,420 4,964 , 3,97^ 11,166 _2,_5_62_ 1,472 2,77Q.. .2,637... _8,J01_ Contingent liability on accept ances purchased for foreign i c orre spondent s 148 7. g/39 8 13. 7 . ._. 9... 21 5_ 3_ 2_ 9__ 20 FEDERAL RESERVE AGENT1S ACCOUNTS F. R. notes outstanding 8,765 2,257 3,383 3,436 2,318 7,110 1,494 720 1,467 1,268 4,510 Collateral for F. R. notes: Gold certificate account 1,000 500 600 853 500 1,100 295 127 225 180 735 Eligible paper 1 7 U. S. Government securities 7,900 1,900 2,950 2,620 1,850 6,100 1,260 _605_ 1.3C0 1,130 4.000 Total collateral 2,335 8,900 2,401 3,550 3,473 2,350 7,200 1,562 732 1,525 1,310 4,735 l/ After deducting $122 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $109 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis