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 For immediate release December 2, 19&5 The average of daily figures of total member bank reserves held during the week ended December 1 increased a net of $386 million to $22,133 million. Estimated currency and coin of member banks increased $92 million and their reserve balances at the Federal Eeserve Banks increased $294 million. Estimated required reseives increased $233 million; and estimated excess reserves increased $153 million to $381 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $153 million, compared with the revised net borrowed figure of $133 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $7^7 million in U. S. Government securities bought outright, $173 million in member bank borrowings, and $58 million in acceptances held under repurchase agreements, and a decrease of $123 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $462 million in Federal Reserve float and $35 million in gold stock, and increases of $212 million in currency in circulation and $93 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $517 million. As of Wednesday, December 1, holdings of U. 3. Government securities bought outright were $696 million higher than a week earlier and member bank borrowings were $5^3 million lower. Averages of daily figures | Member bank reserves, Week•ended Change from week ended( Wednesday Reserve Bank credit, Dec. 1, Nov. 24, Dec. 2, Dec. 1, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account ^0,535 +747 +3,868 40,782 Held under repurchase agreements Acceptances-- Bought outright 49 + 1 + 5 53 Held under repurchase agreements 65 + 58 + 44 68 Discounts and advances— Member bank borrowings 534 +173 + 159 216 Other 33 -- + 31 33 Float 1,802 -462 - 58 1,659 Total Reserve Bank credit 43,018 +517 +4,04-9 42,8il Gold stock 13,808 ~ 35 -l, 579 13,809 Treasury currency outstanding 5,545 + ?. + 89 5,540 62,371 +486 +2,559 62,160 Currency in circulation 4l,732 +212 +2,455 4i,845 Treasury cash holdings 821 + 15 + 267 803 Treasury deposits with F.R. Banks 761 -123 - 66 791 Foreign deposits with F.R. Banks 159 - 21 65 145 Other deposits with F.R. Banks 235 + 18 + 39 244 Other F.R. accounts (net) 1*12 + 93 - 474 444 44,119 +193 +2,155 44,272 Member bank reserves: With Federal Reserve Banks 18,253 +294 + 405 17,888 Currency and coin (estimated) 3,880 + 92 + 352 4,244 Total reserves held 22,133 +386 + 757 1 22,132 Required reserves (estimated) 21,752 +233 + 765 21,996 Excess reserves (estimated) 381 +153 8 1 136 On December 1, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,096 million, a decrease of $117 million for the week and a decrease of $8 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) Change since Dec. 1, Ncv. 24, Dec. 2, 1965 1965 . 1964 A S S E TS Gold certificate account 11,817 + 1 -1,738 Redemption fund for F. R* notes 1,695 + 19 + 159 Total gold certificate reserves 13,512 + 20 -1,579 Cash (547) 1C8 + 2 - 14 Discounts and advances 249 -5^3 + 97 Acceptances: Bought outright 53 + 5 + 8 Held under repurchase agreements 68 + 18 + 38 U. S. Government securities: Bought outright-- Bills 9,4c4 + 696 +2,442 Certificates Notes 24,828 - 328 Bonds 6,550 +1,297 Total "bought outright 40,782 +3,^11 Held under repurchase agreements Total U. S. Goverilment z securities 40,782 +3,411 Total loans and securities 41,152 +176 +3,55^ Cash items in process of collection (1,639) 6,746 +171 + 331 Bank premises 101 1 Other assets 866 -100 + 485 TOTAL ASSETS (2,186) ~62~4B5 T269 +^7776 L I A B I L I T I ES Federal Reserve notes (547) 36,919 +118 +2,554 Deposits: Member bank reserves 17,888 + 44 + 179 U. S. Treasurer--general account 791 - 79 + 174 Foreign 145 - 13 - 136 Other 244 + 22 + 54 Total deposits - 26 + 271 19,c68 Deferred availability cash items (1,639) 5,087 +136 + 336 Other liabilities and accrued dividends 201 + 13 + 69 TOTAL LIABILITIES (2,186) "517275 +241 +3 ,230 C A P I T AL A C C O U N TS Capital paid in 546 + 2^ Surplus 524 - k66 Other capital accounts 140 + 28 - 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,186) 62,485 +269 +2,776 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--nct consolidated) 36.1$ ~ 7'3$>.-> Contingent liability on acceptances purchased for foreign correspondents 1^5 k + 20 * 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, DECEMBER 1, 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 217 78 925 - kh 16 days to 90 days 32 43 6,211* +kJ5 91 days to 1 year -« 17,7^3 4-265 Over 1 year to 5 years „ 14,066 -« Over 5 years to 10 yeairrss -- 1,^9 -*. Over 10 years -- — 385 -- Total W9 T2l 407TB2 TE9B Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMEHT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 1, 1965. New Phila Cleve^ Rich St. Minne Kansas t;an 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 11,817 662 3.050 698 999 1.031 703 2,260 465 185 393 279 1,092 Redemption fund for F. R. notes 1,695 4o3 91 147 137 94 310 63 31 65 56 200 Total gold certificate reserves 13.512 76c 3.453 789 1.146 1,168 797 2,570 528 216 458 335 1.292 F. R. notes of other Banks 5^7 44 110 27 27 68 58 55 23 25 24 34 52 Other cash 108 8 13 5 9 7 10 20 7 4 5 5 15 Discounts and advances 249 17 22 19 25 30 29 23 64 Acceptances: Bought outright 53 53 Held under repurchase agreements 68 68 U. S. Government securities: Bought outright— Bills 9,4c4 488 2,262 490 794 653 517 1.568 348 197 365 382 l,34c Certificates Notes 24,828 1,289 5.972 1,294 2.097 1.723 1.363 4,139 917 521 966 1,009 3.538 Bonds 6.550 34o 1.576 3^1 553 455 36C) 1,092 242 J3Z. 255 266 233_ Total 4o,782 2,117 9.810 2,125 3,444 2,831 '2,24o 6,799 1.5C7 855 1,586 1.657 5.811 Held under repurchase agreements Total U. S. Government securities 40,782 2.117 9,810 2,125 3,444 2,831 2.240 6,799 1,507 855 l^gflfl 1 ,£57 5,fill Total loans and securities 41,152 2,134 9,953 2,128 3,448 2,850 2,265 6,829 1,536 878 1,650 1,661 5,820 Cash items in process of collection 8,385 564 1,605 526 622 621 675 1,383 4c4 266 524 401 794 Bank premises 101 3 8 3 5 5 20 21 7 3 6 11 9 Other assets 866 _32_ 248 48 I3_ h±. 48 121 28 18 4o _43_ -U5_ TOTAL ASSETS 64,671 3,552 15,390 3,526 5,330 4,764 3.873 10,999 2,533 1.410 2,707 2,49c 8,097 r 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 DECEMBER 1, 1965 San New Phila Cleve Rich- St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco .... (In millions» of dollars) L I A B I L I T I ES Federal Reserve notes 37,4661 2,232 8,467 2,210 3,205 3,349 2,197 6,825 1,427 688 1,418 1,168 4,280 Deposits: Member hank reserves 17,888 699 4,920 74o 1,371 773 1,014 2,746 622 438 777 918 2,870 U.S. Treasurer-general ac; count 791 23 247 61 64 47 44 63 106 24 64 3 45 Foreign 145 7 1/38 8 13 7 9 21 5 3 7 8 19 Other 244 # 172 l 1 6 1 2 1 1 4 2 53 Total deposits 19,068 729 5,377 810 1,449 833 1,068 2,832 734 466 852 931 2,987 Deferred availahility cash items 6,726 522 1,181 432 550 505 525 1,132 323 223 377 315 641 Other liabilities and accrx. led dividends 201 10 50 10 18 13 11 34 7 4 8 8 28 TOTAL LIABILITIES 63,461 3,493 15,075 3,462 5,222 4,700 3,801 10,823 2,491 l,38l 2,655 2,422 7,936 CAPITAL ACCOUNTS Capital paid in 546 26 143 29 4 28 33 78 19 13 24 32 72 9 Surplus 524 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts i4o 8 35 6 12 10 8 23 _ 5 4 5 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _64,j$71_- J_z552_.1 .5,,_390_. _i>_52jL._ ._5x33P_J ijj6k_ 3,873 10,999 2,533 l,4i0 2,707 2,490 8,097 Contingent liability on ac<2 eptances purchased for fore:i- gn c orre spondent s 145 7 2/38 8 13 7 9 21 5 3 7 8 19 FEDERAL RESERVE AGENT1S ACCOUNTS F. R. notes outstanding • 39,464 2,312 8,889 2,296 3,4o6 3,489 2,358 7,158 1,503 719 l,48i 1,269 4,584 Collateral for F. R. notes: Gold certificate account 6,595 440 1,000 500 6co 883 500 1,100 305 127 225 180 735 Eligible paper 29 1 28 U. S. Government securities 34,090 1,895 8,100 1,900 2,950 2,650 1,900 6,4co 1,260 605 1,300 1,130 4,000 Total collateral 4o,7l4 2,335 9,ioo 2,401 3,550 3,533 2,400 7,500 1,593 732 1,525 1,310 4,735 1/ After deducting $107 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $107 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis