H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Factors Affecting Bank Reserves and ...... Condition Statement of F.R. Banks por injmediate release H.4.1 January 10, 1963 The average of daily figures of total member bank reserves held during the week ended January 9 decreased $830 million to $20,247 million. Estimated currency and coin of member banks decreased $364 million and their reserve balances at the Federal Reserve Banks decreased $466 million. Estimated required reserves decreased $233 million; and estimated excess reserves decreased $597 million to $435 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $372 million, compared with the revised figure of $318 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $651 million in member bank borrowings, and $74 million in U. S. Government securities bought outright and $120 million held under repurchase agreement, and an increase of $83 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $44 million in Federal Reserve float, and decreases of $317 million in currency in circulation, $63 million in "other" F. R. accounts (net), and $54 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $8l8 million. As of Wednesday, January 9, holdings of U. S. Government securities bought outright were $212 million lower than a week earlier and member bank borrowings were $12 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 9, Jan. 2, Jan. 10, Jan. 9, and related items 1963 1963.. 1962 .. 196.3. (in millions of dollars) Reserve Bank credit: U. S. Government se curitie s-- Bought outright--System account 30,404 - 74 +1,687 30,266 Held under repurchase agreement -- -120 - 67 - - Acceptances-- Bought outright 59 + 7 + 11 59 Held under repurchase agreement 29 - 25 + 28 25 Discounts and advances— Member bank borrowings 63 -651 1 74 Other 2 -- - 13 l Float 2,728 + 44 + 669 2,200 33,286 1818 +2,314 327655 Total Reserve Bank credit Gold stock 15,978 -- - 905 15,978 Treasury currency outstanding 5,572 + 2 - 15 5,573 5*7336 1816 +1,395 54,176 Currency in circulation 35,022 -317 +1,361 34,889 Treasury cash holdings 423 + 14 11 429 Treasury deposits with F. R. Banks 711 + 83 + 331 813 226 - 54 l4 24l Foreign deposits with F. R. Banks Other deposits with F. R. Banks 306 - 13 + 45 1 292 Other F. R. accounts (net) 991 - 63 - 52 ! 989 37,679 -350 +1,659 37,653 Member bank reserves: With Federal Reserve Banks 17,157 -466 - 264 16,523 Currency and coin (estim ated) 3,090 -364 + 219 3,390 26,247 ■ ^36 45 19,913 Total reserves held Required reserves (estim ated) 19,812 -233 + 130 19,637 Excess reserves (estim ated) 435 -597 - 175 276 On January 9, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,977 million, an increase of $22 million for the week and an increase of $1,384 million from the comparable Digitized for FRASER http://fradsaetr.setl ouai sfyede.oarrg/ ago. Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OE1 CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Jan. 9, Jan . 2, Jan. 10, 1963— - 1963 1962 A S S E T S Gold certificate account 14,415 - 15 - 988 Redemption fund for F. R. notes 1,277 + 11 + 108 Total gold certificate reserves * 15,892 5 - 58o Cash (591) 323 + ki - 59 Discounts and advances 75 12 ** 1 Acceptances: Bought outright 59 + 5 + 12 Held under repurchase agreement 25 - 32 + 25 U. S. Government securities: Bought outright— Bills 2,230 - 212 - 956 Certificates 13,182 -- +11,483 Notes 10,717 — ft*9,267 Bonds 4,137 — + 306 Total bought outright 30,266 - 212 + 1,566 Held under repurchase agreement -- -- Total U. S. Government securities 30,266 - 212 + 1,568 Total loans and securities 30,425 - 251 + 1,602 Cash items in process of collection (948) 5,971 - 937 + 765 Bank premises 104 -- - 6 Other assets 400 + 25 137 TOTAL ASSETS (1,539) 52,915 -1,126 + 1,559 L I A B I L I T I E S Federal Reserve notes (591) 29,782 - 328 + l,28l Deposits: Member bank reserves 16,523 - 710 - 405 U. S. Treasurer— general account 813 + 119 + 212 Foreign 241 7 + 11 Other 292 + 3 + 22 Total deposits 17,869 - 595 - 160 Deferred availability cash items (948) 3,771 - 224 362 Other liabilities and accrued dividends 67 + 2 + 7 TOTAL LIABILITIES (1,539) 51,489 -1,145 +17590 C A P I T A L A C C O U N T S Capital paid in 470 + l 24 Surplus 934 -- + k6 Other capital accounts 22 18 - l TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 539) 52,915 -1,126 + 1,559 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ lowing pages--not consolidated) 32*5% + »5$ ~ 2.7$ Contingent liability on acceptances purchased for foreign correspondents 85 - 1 36 •ft 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. JANUARY 9, 1963 (Acceptances and securities held under repurchase agreement are classified as maturing w ithin 15 days in accordance with maximum m aturity of the agreements.) U. S. Government securities Changes Discounts and advances Acceptances Holdings during week ---CIO* Within 15 days 72 % - 1 16 days to 90 days 3 48 4,998 -166 $1 days to 1 year 11,805 - 45 10,808 Over 1 year to 5 years Over 5 years to 10 years 2,094 Over 10 years ___151 D ht i t g p i : t / iz /f e ra d s f e o r r . s F tl R o T A u o i S s t f E e a R d. l org/ 75 m 30,266 -212 Federal Reserve Bank of St. Louis

H .4. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 9, 1963 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Eallas Fran­ York delphia land mond Louis apolis City cisco (In m illions of dol]Lars) A S S E T S Gold certificate account 14,415 788 3,638 712 l,24l 1,013 748 2,4l6 596 320 646 588 1,709 Redemption fund for F. R. notes 1,277 72 302 76 112 99 76 231 53 28 51 39 138 Total gold certificate reserves 15,692 .....85o~ 3,940 788” 1,353 1,112 824 2764? 549“ 348 097 527 1,84? F. R. notes of other Banks 591 49 114 62 37 45 58 57 21 33 17 28 70 Other cash 323 25 52 18 24 30 25 53 17 9 10 11 49 Discounts and advances 75 * 18 3 3 8 13 15 * 2 10 3 * Acceptances: Bought outright 59 — 59 -- -- -- - - - *“ ** — mm « Held under repurchase agreement 25 — 25 -- - - -- -- ***■ ** ** U. S. Government securities: Bought outright— B ills 2,230 108 550 128 179 146 129 377 92 46 97 91 287 Certificates 13,182 637 3,255 754 1,060 866 760 2,232 540 272 575 536 1,695 Notes 10,717 518 2,647 6l4 862 704 618 l,8l4 439 221 467 435 1,378 Bonds 4,137 200 1,022 237 333 272 238 701 169 85 181 168 531 Total 30,266 1,463 7,474 1,733 27434“ '1,988 1,745 5,124 1,240 524“ 1,320 1,230 3,891 Held under repurchase agreement -- — — — -- -- -- -- — Total U. S. Government securities 30,266 1,463 7,474 1,733 2,434 1,988 1,745 5,124 1,240 624 1,320 1,230 3,891 Total loans euid securities 30,425 1,463 7,576 1,736 2,437 1,996 1,758 5,139 1,240 626 1,330 1,233 3,891 Cash items in process of collection 6,919 418 1,359 400 549 495 505 1,110 298 201 363 294 927 Bank premises 104 3 8 3 7 5 13 24 6 4 7 13 11 Other assets 400 20 99 23 34 24 24 65 16 8 18 18 51 TOTAL ASSETS 54,454 2,838 13,148 3,030 4,44l 3,707 3,207 9,095 2,247 1,229 2,442 2,224 6,846 *Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDEEAL RESERVE BANK ON JANUARY 9, 1963 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dollars) L I A B I L I T I E S Federal Reserve notes 30,373 1,789 7,158 1,848 2,659 2,492 1,766 5,493 1,287 576 1,216 901 3,188 Deposits: Member hank reserves 16,523 676 4,476 733 1,177 729 893 2,445 634 4l4 825 945 2,576 U.S. Treasurer-general account 813 54 84 50 62 78 54 96 35 4l 72 39 148 Foreign 241 10 1/90 12 19 10 11 29 7 5 9 12 27 Other 292 * 227 1 2 4 1 _ 1 l _____1______2_ 2 SO Total deposits 17,869 740 4,877 79 6 1,260 821 959 2, 571 677 46l 908 998 2,801 Deferred availability cash items 4,719 : 238 714 301 384 321 400 817 232 157 254 241 660 1 Other liabilities and accrued dividends 67 ! * 15 3 6 5 4 12 2 2 3 3 8 TOTAL LIABILITIES 53,028 12,771 12,764 2,948 4,309 3,639 3,129 8,893 2,198 1,196 2,381 2,143 6,657 CAPITAL ACCOUNTS Capital paid in 470 i 22 127 27 44 22 26 66 16 11 20 27 62 Surplus 934 ! U4 251 54 87 44 51 132 32 22 40 53 124 Other capital accounts 22 l 6 1 l 2 1 4 1 * 1 _____1______3. TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,454 2,838 13,148 3,030 4,44l 3,707 3,207 9,095 2,247 1,229 2,442 2, 224 6,846 Contingent liability on accept­ ances purchased for foreign correspondents 85 4 2/23 5 8 4 5 12 3 2 3 5 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 31,996 1,861 7,482 1,928 2,855 2,631 1,858 5,722 1,361 672 1, 26l 9 66 3,399 Collateral for F. R, notes: Gold certificate account 7,617 480 1,600 465 670 767 450 1,400 350 130 290 215 800 Eligible paper 21 3 8 -- — — 10 -- — - - — — U. S. Government securities 25,163 1,385 6,000 1.5C0 2.250 1.878 ... 1,450 4.500 1.050_ 550 1.000 800 ___ZjML. 32,801 1,865 7,600 1,968 2,920 2,653 1,900 5,900 1,4oo 680 1,300 1,015 3,6co Total collateral 1/ After deducting $-51 million participations of other Federal Reserve Banks. Digiti2ze/d foArf FtReASrE Rd educting $ 62 million participations of other Federal Reserve Banks. * Less than $500,000 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis