H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release December 9, 19&5 The average of daily figures of total member bank reserves held during the week ended December 8 increased a net of $187 million to $22,377 million. Estimated currency and coin of member banks decreased $182 million and their reserve balances at the Federal Reserve Banks increased $369 million. Estimated required reserves increased $123 million; and estimated excess reserves increased $64 million to $487 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $9 million, compared with the revised figure of minus $111 million the week before, when excess reserves were less than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $376 million in U. S. Government securities bought outright, $103 million in U. S. Government securities held under repurchase agreements, and $58 million in Federal Reserve float, and a decrease of $91 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $56 million in member bank borrowings, and increases of $197 million in currency in circulation and $48 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $501 million. As of Wednesday, December 8, holdings of U. S. Government securities bought outright were $l44 million higher than a week earlier and member bank borrowings were $68 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 8, Dec. 1, Dec. 9, Dec. 8, and related items 1965 1965 1964 1965 "(In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 40,911 +376 +3,576 40,926 Held under repurchase agreements 103 +103 + 103 Acceptances- Bought outright 56 + 7 + 8 56 Held under repurchase agreements 76 + 11 + 53 65 Discounts and advances- Member bank borrowings 478 - 56 356 148 Other 36 + 3 3^ 33 Float 1,860 + 58 90 1,594 Total Reserve Bank credit 43,519 +501 +4,039 42,822 Gold stock 13,809 + 1 -1,578 13,809 Treasury currency outstanding 5,548 + 3 4- 148 5,557 62,877 +506 +2,609 62,188 Currency in circulation 41,929 +197 +2,453 42,222 Treasury cash holdings 816 - 5 + 245 8C4 Treasury deposits with F.R. Banks 670 - 91 - 203 658 Foreign deposits with F. R. Banks 155 - 4 - 31 146 Other deposits with F.R. Banks 225 - 10 + 39 218 Other F. R. accounts (net) 460 + 48 - 771 457 44,255 +136 +1,732 44,505 Member bank reserves: With Federal Reserve Banks 18,622 +369 + 877 17,683 Currency and coin (estimated) -182 + 358 4,131 Total reserves held 22,377 +187 +1,235 21,8l4 Required reserves (estimated) 21,890 +123 +1,038 21,843 Excess reserves (estimated) 487 + 64 + 197 -29 On December 8, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,28l million, an increase of $185 million for the week and a decrease of $54 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. 8, Dec* 1 Dec, 9, } 1965 1965 1964 Gold certificate account 11,812 5 -1,724 Redemption fund for F. R. notes 1,693 - 2 + 146 Total gold certificate reserves 13,505 - '( -l,i?Y6 Cash (532) 103 -5 - 8 Discounts and advances l8l - 68 65 Acceptances: Bought outright 56 +3 + 7 Held under repurchase agreements 65 - 3 4- 56 U. S. Government securities: Bought outright-- Bills 9,548 +144 +2,971 Certificates Notes 24,828 -- - 360 Bonds 6,550 __ +1,276 Total bought outright 40,926 ~lT4 +3,"887 Held under repurchase agreements _ - --. Total U» S. Government securities 40,926 +144 +3,887 Total loans and securities 41,228 + 76 +3,885 Cash items in process of collection (1,421) 6,265 -481 + 563 Bank premises 102 + 1 -- Other assets 891 + 25 + 307 TOTAL ASSETS (1,953) 627094 -391 +3,169 L I A B I L I T I ES Federal Reserve notes (532) 37,268 +349 +2,557 Deposits: Member bank reserves 17,683 -205 + 909 TL S. Treasurer—general account 658 -133 - 460 Foreign 146 + 1 2 Other 218 - 26 + 35 Total deposits 18,705 -363 + 482 Deferred availability cash items (1,421) 4,671 -4i6 + 503 Other liabilities and accrued dividends 211 + 10 + 77 TOTAL LIABILITIES (1,953) 60,855 -"420 +3,619 C A P I T AL A C C O U N TS Capital paid in 546 -- + 24 Surplus 524 -- - 466 Other capital accounts 169 + 29 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,953) 62,094 -391 +3,169 Ratio of gold certificate reserves to P. R. note liability (computed from figures as shown on the following pages—not consolidated) 35-7$ --4$ - 7-2$ Contingent liability on acceptances purchased for foreign correspondents 14-9 +4 + 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 LOANS. AND SECURITIES, DECEMBER 8, 1965 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. 3._.. Government... securities Discounts and Changes advances Acceptances Holdings during week: Within 15 days 151 73 830 - 95 16 days to 90 days 30 48 6,199 - 15 91 days to 1 year -- — 17,997 +254 Over 1 year to 5 years -- -- l4,066 Over 5 years to 10 years -- — 1,449 Over 10 years — — 385 zi .Total 181 121 40,926 +144 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON DECEMBER 8, 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)" A S S E TS Gold certificate account 11,812 717 2,670 684 969 1,158 814 2,173 470 252 394 328 1,183 Redemption fund for F. R. notes 1,693 401 92 147 135 94 309 64 32 6 L 57 199 w Total gold certificate reserves 13,505 Sl5 3,071 77b 1,116 1,293 ~9C8' ~2y482~ 1,382 T59 F. R. notes of other Banks 532 46 ill 27 23 62 55 54 21 23 22 33 55 Other cash 103 7 14 5 7 7 19 6 4 7 5 13 Discounts and advances 181 8 17 14 10 11 40 11 13 43 Acceptances: Bought outright 56 Held under repurchase agreements 65 65 U. S. Government securities: Bought outright-- Bills 9,548 495 2,297 498 8c6 663 525 1,591 353 200 371 388 1,361 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 6,550 340 1,576 341 553 455 36c 1,092 242 137 255 266 933 Total To, 926' 2,124 ~9,8~4T 2,133 3,4T6' "278417 2,248' 6,822 1,512 858 1,592 l,653~ 5,83^ Held under repurchase agreements Total U. S. Government securities 40,926 L 2,124 9,845 2,133 3,456 2,84l 2,248 6,822 l,512 858 1,592 1,663 5,832 Total loans and securities 41,228 2,132 9,983 2,147 3,^59 2,851 2,259 6,862 1,523 871 1,635 1,668 5,838 Cash items in process of collection 7,686 507 1,288 463 529 605 630 1,328 4oo 267 499 370 800 Bank premises 102 3 8 3 5 5 20 21 7 3 6 11 10 Other assets 118 891 40 _2£L 47 49 124 29 18 39 44 TOTAL ASSETS 64,o47 3,550 14,730 3,472 5,216 4,870 3,930 10, 2,520 1,470 2,667 2,516 8,216 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 8, 1965 1 1 Rich- J ! San Total Boston New Phila Cleve Atlanta ! Chicago! St. Minne-1 Kansas 'Dallas Fran York delphia land mond | 1 ! Louis apolis) City j cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 37,800 2,245 8,536 2,227 3,231 3,367 2,24o 6,871 1,444 696 1,434 1,180 4,329 Deposits: Member "bank reserves 17,683 719 4,590 712 1,325 864 1,055 2,679 662 46o 771 910 2,936 U.S. Treasurer-general account 658 28 79 49 56 71 61 79 47 54 27 47 60 Foreign 146 7 1/39 8 13 7 9 21 5 3 7 8 19 Other 218 1 149 1 7 2 3 * 3 2 1 49 Total deposits 18,705 755 4,857 770 1,394 949 1,127 2,782 714 520 807 966 3,064 Deferred availability cash items 6,092 479 963 398 462 475 479 1,021 311 221 365 292 626 Other liabilities and accrued dividends 211 11 52 11 18 14 11 35 8 4 8 8 31 TOTAL LIABILITIES 62,808 3,490 14,408 3,406 5,105 4,805 3,857 10,709 2,477 1,441 2,614 2,446 &, 050 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 169! 9 42 8 15 11 9 28 6 4 6 7 24 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 64,047j 3,550 1*1,730 3, ^72 5,216 4,870 3,930 10,890 2,520 1,470 2,667 2,516 8,216 Contingent liability on accept ances purchased for foreign correspondents l4_9 2/ 3 2.. J3_ 8 21 _7_ 20 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 39,780 2,329 8,942 2,307 3,457 3,502 2,390 7,206 1,531 726 1,497 1,280 4,613 Collateral for F. R. notes: Gold certificate account 6,645 44o 1,000 50c 6co 883 550 1,100 305 127 225 18c 735 Eligible paper 22 12 10 U. S. Government securities -^4,150' 1,945 8,100 1,900 2,950 2,650 1,900 6,400 1.260 6l5 1.3C0 1.B0 4.000 Total collateral 40,817 2,385 9,100 2,412 3,550 3,533 2,450 7,500 1,575 742 1,525 1,310 4,735 l/ After deducting $107 million participations of other 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