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 H.U.I For immediate release November 26, 1965 The average of daily figures of total member bank reserves held during the week ended November 2k decreased a net of $138 million to $21,7^0 million. Esti mated currency and coin of member banks increased $37 million and their reserve balances at the Federal Reserve Banks decreased $175 million. Estimated required reserves decreased $21 million; and estimated excess reserves decreased $117 million to $198 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $163 million, compared with the revised net borrowed figure of $174 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $260 million in U. S. Government securities bought outright and $128 million in member bank borrowings, and increases of $131 million in currency in circulation and $85 million in "other" F. R. accounts (net). The principal offsetting changes were an increase of $276 million in Federal Reserve float and a decrease of $l6l million in Treasury deposits with Federal Reserve Eanks. Total Reserve Bank credit decreased $104 million. As of Wednesday, November 2^, holdings of U. S. Government securities bought outright were $38 million higher than a week earlier and member bank borrow ings were $511 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 24, Nov. 17, Nov. 25, Nov. 24, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 39,788 -260 +3,921 40,086 Held under repurchase agreements — -- - 125 -- Acceptances— Bought outright 48 + 4 + 5 48 Held under repurchase agreements 7 + 4 - 48 50 Discounts and advances~- Member bank borrowings 361 -128 + 202 759 Other 33 — + 30 33 Float 2,264 +276 + 128 1,624 Total Reserve Bank credit 42,501 "^104" +TCT3 42,600 Gold stock 13,843 - 16 -1,587 13,809 Treasury currency outstanding 5,542 + 2 + 48 5,544 61,885 -119 +2,573 61,953 Currency in circulation 41,520 +131 +2,449 41,720 Treasury cash holdings 806 + 15 + 254 836 Treasury deposits with F. R. Banks 884 -l6l + 363 870 Foreign deposits with F. R. Banks 180 -- + 32 158 Other deposits with F. R. Banks 217 - 14 + 34 222 Other F. R. accounts (net) 319 + 85 - 926 303 43,926 + 56 +2,206 44,109 Member bank reserves: With Federal Reserve Banks 17,959 -175 + 367 17,844 Currency and coin (estimated) 3,781 + 37 + 31^ 4,229 Total reserves held 21,740 -138 + 681 22,073 Required reserves (estimated) 21,542 - 21 + 741 21,525 Excess reserves (estimated) 198 -117 - 60 548 On November 2k 19^5, U* s' Government securities held in custody by } the Federal Reserve Banks for foreign account were $8,213 million, an increase of $42 million for the week and a decrease of $121 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) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) .ars; Change since Nov. 24, Nov. 17, Nov. 25, 1965 1965 _ 1964 A S S E TS Gold certificate account 11,816 - 78 -1,740 Redemption fund for P. R. notes 1,676 1 + 141 Total gold certificate reserves 137S92 -1,599 - 79 Cash (528) 106 2 - 24 Discounts and advances 792 + 511 + 632 Acceptances: Bought outright 48 + 2 + 3 Held under repurchase agreements 50 + 50 6 U. S. Government securities: Bought outright-- Bills 8,7C8 38 +2 783 ; Certificates Notes 24,828 ~ - 305 Bonds 6,550 zi +1,328 Total bought outright 4C,Ct56 + 38 +3,806 Held under repurchase agreements _. _- Total U. g. Government securities 40,006 + 38 +3,806 Total loans and securities 40,976 + 601 +4,447 Cash items in process of collection (1,687) 6,575 -1,550 + 516 Bank premises 101 1 Other assets 966 + 46 + 389 TOTAL ASSETS (2,215)62,216 - 984 +3,728 L I A B I L I T I ES Federal~Reserve notes (528)36,801 t- 234 +2,630 Deposits: Member bank reserves 17,844 - 181 + 866 U. S. Treasurer--general account 870 - 42 + 118 Foreign 158 - 24 - 36 Other 222 + 14 + 36 Total deposits 19,094 - 233 T~98T Deferred availability cash items (1,687) 4,951 -1,014 + 5C4 Other liabilities and accrued dividends 188 + 70 TOTAL LIABILITIES (2,215)61,034 -1,013 +4,188 C A P I T AL A C C O U N TS Capital paid in 546 + 24 Surplus 524 - 466 Other capital accounts 112 + 29 - 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,215)62,216 - 985 +3,728 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 36.1$ *5$ - 7*5$ Contingent liability on acceptances purchased for foreign correspondents 1^9 +1 + 25 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOAN'S AND SECURITIES, NOVEMBER 24, 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 Disc ounts and Changes advanc<e s Acceptances Holdings during week Within 15 days 757 61 969 -124 16 days to 90 days 35 37 5,739 +150 91 days to 1 year 17A78 + 12 Over 1 year to 5 years 14,066 Over 5 years to 10 years 1,4^9 Over 10 years 385 Total 792 98 40,086 IB Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF COKDITIOK OF EACH FEDERAL RESERVE BANK ON KOVEMBER 2k, I965 Kew Phila Cleve Rich St. Minne Kansas San Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (in millions3 of dollars) A S S E TS Gold certificate account 11,816 675 2,507 771 1,078 1,135 648 2,219 348 172 650 377 1,236 Redemption fund for F. R. notes 1,676 94 393 91 147 137 95 309 63 31 56 195 Total gold certificate reserves 13,492 769 2,900 ~ 862 1>225 1,272 7%3-.-'. 2,528 4TT~ 203 715 4"33~~ 1,431 F. R. notes of other Banks 528 45 110 28 22 63 59 47 21 23 25 35 50 Other cash 106 7 14 4 9 7 10 18 7 4 7 6 13 Discounts and advances 792 68 259 34 12 48 51 97 44 23 62 3 91 Acceptances: Bought outright U8 48 Held under repurchase agreements 50 50 U. S. Government securities: Bought outright-- Bills 8,708 456 2,120 442 725 590 480 1,459 335 187 295 350 1,269 Certificates Notes 24,828 1,303 6,o44 1,260 2,068 1,679 1,370 4,160 956 532 840 997 3,619 Bonds ! 6,550 344 1,594 332 545 443 362 1,098 252 l4o 222 263 955 Total '40,086 2,103 9,758 2,034 3,338 2,712 2,212 6,717 1,543 859 1,357 1,610 5,843 Held under repurchase agreements Total U. S. Government securities 40,086 2,KR 9,758 2.034 3.338 2.712 2,212 6,717 1,543 859 1,357 1,610 5,843 Total loans and securities 40,976 2,171 10,115 2,c68 3,350 2,760 2,263 6,8i:4 1,587 882 1,419 1,613 5,934 Cash items in process of collection i 8,262 553 1,489 502 570 668 682 1,378 412 268 524 454 762 Bank premises 101 3 8 3 5 5 20 21 7 3 6 11 9 Other assets i 966 44 276 50 82 49 55 136 32 22 42 50 128 TOTAL ASSETS 64,431 3,592 14,912 3,517 5,263 4,824 3,832 10,942 2,477 1,405 2,738 2,602 8,327 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 NOVEMBER 24, 1965 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran Ycrk delphia 1 land mond Louis apolis City cisco (in millions5 of dollars) L I A B I L I T I ES Federal Reserve notes 37,329 2,221 8,445 2,199 3,193 3,322 2,181 6,823 1,420 685 1,410 1,163 4,267 Deposits: Member "bank reserves 17,8V* 737 4,617 751 1,352 798 990 2,700 618 403 824 957 3,097 U.S. Treasurer-general ac1 count 870 47 178 62 83 31 49 77 60 49 57 47 80 Foreign 158 8 1/36 9 15 8 10 23 6 4 7 10 22 Other 222 * 160 1 * 6 1 2 * * 2 1 49 Total deposits 19,094 792 4,991 823 1,450 893 1,050 2,802 684" T56 890 1,015 3,248 Deferred availability cash items 6,638 512 1,122 423 498 535 520 1,114 325 232 380 349 628 Other liabilities and accixte d dividends 188 10 46 ,9__ 16 12 10 32 7_ 4 7 8 27 TOTAL LIABILITIES 63,2^9 3,535" 14,604 3,454 5,157 4,762 "" 3,761 10,771 2,436 1,377 2,687 2,535 " 8,170 CAPITAL ACCOUNTS I2apital 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 112 6 28 5 10 8 7 18 4 3 4 4 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64,131^- 3->J>9iL_ 14,912 -3JL£3— _li263_ 4,824 3,832 10,942 2,477 ._lz4°5_ 2,738 2,602 8,327 Contingent liability on ace:e ptances purchased for forejLg n _l6a. correspondents _ liSL 7 8 13 8 9 21 5_ 3 7 9„. 20 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 39,243 2,293 8,828 2,269 3,403 3,461 2,342 7,147 1,508 720 1,472 1,265 4,535 Collateral for F. R. notes: Gold certificate account 6,595 440 1,000 500 600 883 500 1,100 305 127 225 180 735 Eligible paper 1 44 43 U. S. Government securities 1,895 7,900 1,900 2,950 2,620 1,9C0 6,100 605 1,300 1,130 4,oco 3^,560 1,260 Total collateral 40,199 2,335 8,900 2,401 3,550 3,503 2,400 7,200 1,608 732 1,525 1,310 4,735 l/ After deducting $122 million participations ofo ther Federal Reserve Banks• * Less than $500,000. 2/ After deducting $110 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis