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 l6, I965 The average of daily figures of total member bank reserves held during the week ended December 15 increased a net of $117 million to $22,451 million. Estimated currency and coin of member banks increased $297 million and their reserve balances at the Federal Reserve Banks decreased $180 million. Estimated required reserves increased $17 million; and estimated excess reserves increased $100 million to $557 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $71 million, compared with the revised net borrowed figure of $21 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $87 million in U. 3. Government securities bought outright and $48 million in U. S. Government securities held under repurchase agreements, and an increase of $331 million in currency in circulation. The principal offsetting changes were an increase of $193 million in Federal Reserve float, and decreases of $50 million in "other" F. R. accounts (net) and $33 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $52 million. As of Wednesday, December 15, holdings of U. S. Government securities bought outright were $102 million lower than a week earlier and member bank borrowings were $53 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 15, Dec. 8, Dec. 16," Dec. 15, and related items 1965 1965 1964 1965 (in millions of dollars)" Reserve Bank credit: U. S. Government securities— Bought outright--System account 40,824 - 87 +3,804 40,824 Held under repurchase agreements 55 - 48 - 260 Acceptances- Bought outright 57 + 1 + 7 60 Held under repurchase agreements 64 - 12 + 64 60 Discounts and advances- Member bank borrowings 486 + 8 352 95 Other 32 - 4 4 27 Float 2,05^ ±193 31 2,295 Total Reserve Bank credit 43,571 + 52 +3,939 43,361 Gold stock 13,808 - 1 -1,580 13,809 Treasury currency outstanding 5,556 + 8 + 154 5.567 62,935 + 58 +2,514 I 62,737 Currency in circulation 42,260 +331 +2,517 42,373 Treasury cash holdings 803 - 13 + 210 812 Treasury deposits with F. R. Banks 637 - 33 - 387 612 Foreign deposits with F.R. Banks 158 + 3 + 16 144 Other deposits with F.R. Banks 225 -- + 49 227 Other F.R. accounts (net) 4l0 - 50 - 696 347 hk,h93 +238 +1,709 44,515 Member bank reserves: With Federal Reserve Banks 18,442 -180 + 805 18,222 Currency and coin (estimated) 4,009 +297 + 259 4,494 Total reserves held 22,451 +117 +1,064 22,716 Required reserves (estimated) 21,894 + 17 + 895 22,108 Excess reserves (estimated) 557 +100 + 169 608 On December 15, 1965, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,263 million, a decrease of $18 million for the week and a decrease of $105 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 STATJSMEJST OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) unange sii nce Dec. 15, Dec. 8, Dec. 16, 1965 1965 1964 A S S E TS Gold certificate account 11,787 25 -1,732 + 24 + 157 Redemption fund for F. R. notes 1,717 1 "^17575 Total gold certificate reserves 13,504 Cash (567) 106 + 3 - 12 Discounts and advances 122 59 - 105 Acceptances: Bought outright 60 + 4 + 9 Held under repurchase agreements 60 5 + 60 U. S. Government securities: Bought outright-- 9,446 102 +3,001 Bills Certificates Notes 24,828 - 360 Bonds 6,550 zz +1,276 Total bought outright 4n,824 - 102 +3,917 Held under repurchase agreements - 37^ Total U. S. Government securities 102 +T553 Total loans and securities 4l,066 - 162 +3,507 Cash items in process of collection (1,817) 7,924 +1,659 + 32 Bank premises 103 + 1 + 1 Other assets 910 + 19 + 305 TOTAL ASSETS (2,384) 63,613 +1,519 +2,258 L I A B I L I T I ES Federal Reserve notes (567) 37,^19 151 +2,576 Ifeposits: Member bank reserves 18,222 539 + 289 U. S. Treasurer--general account 612 46 - 458 l44 2 + 23 Foreign. Other 227 9 + 52 Total deposits 19,205 + 500 Deferred availability cash items (1,817) 5,629 + 958 + 171 Other liabilities and accrued dividends 2^5 - 6 + 69 TOTAL LIABILITIES (2,38*0 62,^58 +1,603 +2,722 C A P I T AL A C C O U N TS Capital paid~in 5^7 + 25 Surplus 524 • h66 Other capital accounts 84 - §5 - 23 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,384) 63,613 +1,519 +272258 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages--not consolidated) 35*5$ »2$ - 7-2$ Contingent liability on acceptances purchased + 21 for foreign correspondents 1^5 - ^ * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages* MATURITY DiamiBUriON OF LOANS AND SECURITIES, DECEMBER 15, 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 Ac<^e ptances Holdings during week Within 15 days 994^ 6699 8 8 2 2 2 2 - 8 16 days to 90 days 2288 5511 66,,220033 + J - - _- 17,899 91 days to 1 year — — 17,899 - 98 -- 14,066 Over 1 year to 5 years -_ 1,449 Over 5 years to 10 yeaIrTsS -- 385 Over 10 years . nw^csi TOO JOQ -, .••,,, .L.»r Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT-OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 15, 1965 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis 1 apolis City cisco (in millions of dollars) A S S E TS Gold certificate account 11,787 761 2,997 706 911 1,100 755 2,190 482 193 429 277 986 Redemption fund for F. R". notes 1,717 97 4oi 95 146 135 99 319 65 31 68 57 204 Total gold certificate reserves 13,504 • ••858 3,398 801 1,057 ' 1,235 B54- ~2,5C9 " 5^7 " 224 497 33^ 1,190 F. R. notes of other Banks 567 ±5 119 31 27 67 53 56 22 21 23 4o 63 Other cash 106 7 14 5 8 7 9 18 6 4 7 6 15 Discounts and advances 122 6 11 2 9 10 5 35 2 3 33 2 4 Acceptances: Bought outright 60 -_ 60 _- — -_ — -- — — — — -- Held under repurchase agreements 60 -- 60 — — — -- -- -- — — -- -- TJ~. B. Government securities: Bought outright- Bills 9,H6 490 2,272 492 798 656 519 1,575 3^9 198 367 384 1,346 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 1,576 341 553 455 360 1,092 242 137 255 266 933 Total 40,824 h"2,119" 97F20 2,127 —3744-8'- 2,834 ' " 2,"24~2 "678756"~ l,5Cff — B 5 5- "1,5-38" " 1,659 ' 5,817 Held under repurchase agreements -- — -- -- -- — -- -- -- -- -- -- -- Total U. S. Government securities 4o,824 2,119 9,820 2,834 2,242 6,806 856_ _JL,_588 _ 1,659 5,817 Total loans and securities 41,066 2,125 9,951 2,129 3,^57 2,844 2,247 6,84l 1,510 859 1,621 1,661 5,821 Gash items in process of collection 9,?4l 60c 1,713 557 702 764 818 1,771 480 327 594 476 939 Bank premises 103 3 9 3 5 5 20 21 7 3 6 11 10 Other assets 910 42 259 50 78_ h9 _ 5?_ 127 30_ 20 4o 45 120 TOTAL ASSETS 65,997 3,680 15,^63 3,576 5,33^ 4,971 4,051 11,343 2,602 1,458 2,788 2,573 8,158 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. k. 1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 15, 1965 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 37,986 2,258 8,572 2,21+9 3,251 3,381 2,259 6,895 1 ,^ 700 1,^36 1,193 ^,338 Deposits: Member bank reserves 18,222 757 5,026 731 1,312 838 1,070 2,883 672 1+28 801 892 2,812 U.S. Treasurer-general account 612 ^3 92 36 37 76 21+ 1+0 69 1+0 68 33 5^ Foreign Ikk 7 1/37 8 13 7 9 21 5 3 7 8 19 Other 227 * ll+7 1 1 5 11 2 # 2 1 51+ Total deposits 19,205 807 5,302 776 1,363 926 1,114 2,91+6 7I+6 kjk 878 93^ 2,939 Deferred availability cash items 7,kk6 51+9 1,239 U79 598 590 598 1,301 355 252 i+16 370 699 Other liabilities and accrued dividends 205 10 50 10 18 Ik 11 31 7 5 8 9 29 TOTAL LIABILITIES 6i+,81+2 3,624 15,163 5,230 ^,911 3,982 11,176 2,562 1,^31 2,738 2,506 8,005 CAPITAL ACCOUNTS Capital paid in 5^7 26 l*+3 29 50 28 33 78 19 13 2k 32 72 Surplus 52I+ 25 137 29 hi 26 31 75 18 12 23 31 70 Other capital accounts 81+ 5 20_ k_ L. 6_ _5_ ll+_ 3_ 2 3 1+ 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 65,997 3,680 15,^63 3,576 5,33^ ^,971 ^,051 11,3^3 2,602 M58 2,788 2,573 8,158 Contingent liability on accept ances purchased for foreign correspondents ll+5 i 7_ 2/38 8 13 7 9 21 5 3 7 8 19 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 9,006 2,331 3,!+80 3,5^0 2,1+21 7,21+7 1,5^3 732 1,512 1,289 T+76T+0" Collateral for F. R. notes: Gold certificate account 1,000 5co 600 883 550 1,100 305 127 225 180 735 Eligible paper 1 -- -- -- -- 1 U. S. Government securities 8,100 1.900 2,950 2.690 1,900 6,1+00 1.260 6l5 1.300 1.130 1+.C00 Total collateral 9,100 2,1+01 3,550 3,573 2,1+50 7,500 1,566 7^2 1,525 1,310 l+,735 1/ After deducting "|l07 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