H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•:&S28Ui 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 30, 1965 The average of daily figures of total member bank reserves held during the week ended December 29 increased $278 million to $23,C82 million. Estimated currency and coin of member banks increased $26 million and their reserve balances at the Federal Reserve Banks increased $252 million. Estimated required reserves increased $47 million; and estimated excess reserves increased $231 million to $467 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $79 million; the week before revised excess reserves were $18 million greater than member bank borrowings. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $328 million in member bank borrowings and $199 million in U. S. Government securities held under repurchase agreements, and a decrease of $33 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $171 million in U. S. Government securities bought outright, $163 million in Federal Reserve float, and $23 million in gold stock. Total Reserve Bank credit increased $223 million. As of Wednesday, December 29, holdings of U. S. Government securities bought outright remained unchanged frcm a week earlier, U. S. Government securities held under repurchase agreements were $258 million higher, and member bank borrowings were $228 million higher. Average; s of daily figures Member bank reserves, Week ended Change frcm week ended Wednesday, Reserve Bank credit, Tec. 29, Dec. 22, Dec. 30, Dec. 29, and related items 1965 1965 1964 1965 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account ^0,631 -171 +4,06l 4o,631 Held under repurchase agreements 221 +199 - 145 258 Acceptance s-- Bought outright 66 + 4 + 13 73 Held under repurchase agreements 66 + 9 + 64 91 Discounts and advances-- Member bank borrowings 546 +328 + 42 499 Other h6 + 17 + 15 4i Float 2,713 -163 - 171 2,215 Total Reserve Bank credit 44,289 +223 +3,880 43,808 Gold stock 13,786 - 23 -1,602 13,734 Treasury currency outstanding 5.585 + 13 + 188 5.591 63,659 +212 +2,465 63,133 Currency in circulation 42,348 - 19 +2,496 42,3l4 Treasury cash holdings 817 + 15 + 197 820 Treasury deposits with F. R. Banks 687 - 33 - 303 533 Foreign deposits with F% R. Banks 159 + 13 - 62 159 Other deposits with F. R. Banks 226 - 4 + 49 227 Other F. R. accounts (net) 349 - 10 - 647 338 44,586 - 38 +1,730 44,391 Member bank reserves: With Federal Reserve Banks 19,074 +252 + 736 18,742 Currency and coin (estimated) 4,008 + 26 + 355 4.629 Total reserves held 23,082 +278 +1,C91 23,371 Required reserves (estimated) 22,615 + 47 +1,186 22,797 Excess reserves (estimated) 467 +231 - 95 574 Cn December 29, 19&5, u- S. Government securities held in custody by the Federal Reserve Banks for foreign account were$8,384 million, an increase of $5^ million for the week and a decrease of $131 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 TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Dec* 29, Dec. £2, Dec. 30, 1965 1965 1964 A S S E TS Gold certificate account 11,70^ - 77 -1,801 Redemption fund for F. R. notes 1,732 - 2 + 162 Total gold certificate reserves 13,^36 - 79 -1,639 Cash (740) 119 + 5 - 12 Discounts and advances 54o + 242 + 183 Acceptances: Bought outright 73 + 9 + 17 Held under repurchase agreements 91 + 36 + 81 U. S. Government securities: Bought outright- Bills 9,253 — +3,209 Certificates -- __ -- Notes 24,828 __ - 360 Bonds 6,550 -- +1,276 Total bought r«ptright 40,631 -- +4,125 Held under repurcmse agreements 258 + 258 + 1 Total U, S. Government securities 2^889 + 258 +4,126 Total loans and securities 41,593 + 545 +4,407 Cash items in process of collection (1,841) 7,161 -1,428 H 144 Bank premises 103 1 Other assets 973 : 37 + 348 TOTAL ASSETS (2,581) "637355 • 921 L I A B I L I T I ES Federal Reserve notes (7^0) 37,364 212 +2,533 Deposits: Member bank reserves 18:, 7^2 + 614 916 U. S. Treasurer--general account 533 - 310 221 Foreign 159 - 32 69 Other 227 + 7 39 Total deposits 19,661 + 279 665 Deferred availability cash items (1,841) 4,946 -1,016 + 431 Other liabilities and accrued dividends 206 + 2 + 76 TOTAL LIABILITIES (2,581) "627177 - 947 +3,705 £ & * I 21 h L A C C O U N TS Capital paid in 548 + 24 Surplus 524 - 466 Other capital accounts 136 26 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,58l) 63,385 921 +3,248 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the following pages—not consolidated) 35-3$ »1# -1.2$ Contingent liability on acceptances purchased for foreign correspondents l43 — + 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 29, I965 (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 501 101 1,012 +332 16 days to 90 days 39 63 6,267 + 60 91 days to 1 year -- -- 17,710 -134 Over 1 year to 5 yeairrss -.- l4,c66 -- Over 5 years to 10 yfeeaarrs s -- 1,449 -- Over 10 years „ -. 385 -- Total 5W> 164 Tw~BS9 +25B Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 29, 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 dollL ars) A S S E TS ; Gold certificate account 11,704 709 2,612 723 1,069 1,096 757 2,087 528 198 449 370 1,106 Redemption fund for F. R. notes 1,732 97 409 94 148 143 99 318 6k 33 67 56 2C4 Total gold certificate reserves 13753S """806"" 3,021 8I7 " 17217 ~ 1,239 " B5F-" 27405 592 231 5l6~" 526~ 1,310 F. R. notes of other Banks 7^0 59 140 51 51 85 66 77 35 30 30 40 76 Other cash 119 8 16 6 10 8 11 20 7 k 7 6 16 Discounts and advances 5^0 82 136 4 4 53 4o 64 21 n 59 16 54 1 Acceptances: Bought outright 73 -- 73 -- -- -- -- • - -_ __ _. - _ _ m. — Held under repurchase agreements 91 -- 91 -- -- -- -- -- -- -.- - - •»_ U. S. Government securities: Bought outright— Bills 9,253 480 2,226 482 781 643 5C8 1,542 342 194 360 376 1,319 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 6450.1 3^0 _i*5Z6 341 __552__ _45_5 360 1,092 242 137 255 266 933 Total ^ , } To, 631 [ 2,109 9,774^ 2,117 3,431 2,821 2,231 6,773 1,501 852 1,581 1,651 5,790 Held under repurchase agreements 258 _ — 258 Total U. S. Government securities 4o,889 :_2A09___ 10,032_ _J L 43_i__ 2,821 J,231 __6,J73__ 1,501 _ 8_52_ 1,581 1,651 5,790 Total loans and securities 41,5i i,191 10,332 2,121 3,435 2,874 2,271 6,837 1,522 859 l,64o 1,667 5,844 Cash items in process of collection 9,002 554 1,764 526 607 737 750 1,587 449 28l 508 421 818 Bank premises 1 103 3 9 3 5 5 20 20 7 3 7 11 10 Other assets j 973 1 45 274 52 84 52 54 139 33 20 43 48 129 TOTAL ASSETS \ 65,966 1 3,666 15,556 3,576 5,409 5,000 4,028 11,085 2,645 1,428 2,751 2,619 8,2C3 1' . —"— 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 29, 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 38,10U 2,266 8,609 2,254 3,253 3,405 2,269 6,917 1,457 702 1,432 1,198 4,342 Deposits: Member bank reserves 18,7^2 768 5,153 757 1,443 842 1,060 2,719 716 442 837 983 3,022 U. S. Treasurer-general ajcc ount 533 59 60 35 51 75 34 63 48 35 45 24 4 Foreign 159 8 1/41 9 14 8 9 23 5 4 7 9 22 Other 227 150 * 1 5 5 1 1 2 2 1 5Q Total deposits 19,661 835 5,4o4 801 1,509 930 1,108 2,806 770 463 891 1,017 3,107 Deferred availability cash items 6,787 497 1,175 446 521 588 568 1,153 369 210 368 327 565 Cther liabilities and accrtl ed dividends 206 10 53 10 18 14 11 33 7 5 8 9 28 TOTAL LIABILITIES 64,758 3,6o8 15,241 3,511 5,301 4,937 3,956 10,909 2,603 1,400 2,699 2,551 8,042 CAPITAL ACCOUNTS Capital paid in 5^8 26 143 30 50 28 33 78 19 13 24 32 72 Surplus 25 137 29 47 26 31 75 18 12 23 31 70 Other capital accounts 136 7 35 6 11 9 8 23 •5 3 •5 5 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS J5J36L 3,666 15,556 _3^57<? _5*Jt£2_ -5^QC^_ 4,028 11,085 __.2 U645_ _1.428 2,751 . 2.619 8.203 ... Contingent liat>ilit$*X3Sc?acc: eptances purchased for foreji gn correspondents 1^3 7 2/ 37 8 13 7 9 20 5 3 7 8 19 . FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding W& 7~3^ 9,087 2,339 3^85 3,566 2,432 7,325 1,537 735 1,509 1,292 Collateral for F. R. notes: Gold certificate account 6,605 440 1,000 500 6co 833 550 1,100 315 127 225 180 735 Eligible pape]* 21 1 20 U. S. Government securities 34,710 1,945 8,200 1,900 2,950 2,760 1,900 6,4oo 1,310 615 1,300 1,130 JLL2C0. Total collateral 41,336 2,385 9,200 2,401 3,550 3,593 2,450 7,500 1,645 742 1,525 1,310 5,035 1/ After deducting $118 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting $106 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis