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 For immediate release H.k.l February 21, 1963 The average of daily figures of total member bank reserves held during the week ended February 20 decreased a net of $130 million to $19;k92 million. Estimated currency and coin of member banks increased $109 million and their reserve balances at the Federal Reserve Banks decreased $239 million. Estimated required reserves decreased $37 million^ and estimated excess reserves decreased $93 million to $k08 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $251 million, compared with the revised figure of $336 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $39^ million in Federal Reserve holdings of U- S. Government securities and increases of $127 million in "other" F. R. accounts (net), $63 million in Treasury deposits with Federal Reserve Banks, and $30 million in currency in circulation. The principal offsetting change was an increase of $383 million in Federal Reserve float. Total Reserve Bank credit decreased $18 million. As of Wednesday, February 20, holdings of U. S. Government securities bought outright were $39 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $180 million lower, and member bank borrowings were $239 million higher. Outright holdings of bills decreased $39 million. Holdings of certificates increased $398 million and notes decreased $398 million, reflecting the exchange of $3,k02 million certificates and $398 million notes maturing February 15 for $3,800 million of 3-lA Per cent certificates maturing February 15, 196k. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 20, Feb. 13, Feb. 21, Feb. 20, and related items 1963 1963 1962 1963 . (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 30,337 -110 +2,275 30,39^ Held under repurchase agreement 55 -28k + 27 133 Acceptances— bought outright 60 - 1 + lk 58 Discounts and advances— Member bank borrowings 157 - 8 + 85 k03 Other __ - - - 50 -- Float 1,702 +383 + k7 1,639 Total Reserve Bank credit 32,312 - 18 +2,399 32,627 Gold stock 15,928 - - - 862 15,928 Treasury currency outstanding 5,566 + 3 20 5,567 5k,122 53,806 - 15 +1,517 Currency in circulation 3M93 + 30 +I,k23 3k,288 Treasury cash holdings kkk + 17 3 k59 Treasury deposits with F. R. Banks 901 + 63 + k68 908 Foreign deposits with F. R. Banks 187 - 25 10 19O Other deposits with F. R. Banks 310 + 12 + 36 311 Other F. R. accounts (net) 1,086 +127 - 77 1,113 37,2^1 +225 TI7B3B 37,269 Member bank reserves: With Federal Reserve Banks 16,586 -239 - 318 16,85k Currency and coin (estimated) 2,906 +109 + 230 3,199 Total reserves held 19 >92 -130 ~— 88 20/053 19,106 Required reserves (estimated) 19,08k - 37 + 37 Excess reserves (estimated) ko8 - 93 - 125 9k7 On February 20, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,158 million, an increase of $10 million for the week and an increase- of $l,6kk million from the oompai'able Digitized fodra FtReA SEaR year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATE lENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) _____ Change,-Since_____ Feb * 20, Feb. 13, Feb. 21, 19.63— 1Q6S 1962 A S S E T S Gold certificate account 14,382 — - 989 Redemption fund for F. R. notes 1,265 - 6 + 113 Total gold certificate reserves * 15,647 - $7& Cash (581) 401 - 19 - 87 Discounts and advances 403 +239 + 235 Acceptances--bought outright 58 - 1 + 13 U. S. Government securities: Bought outright— Bills 2, 361 - 39 - 237 Certificates 13,580 +398 +8,625 Notes 10,289 -398 -6,439 Bonds 4,164 -- + 402 Total bought outright 30,394 - 39 +2,351 Held under repurchase agreement 133 -180 + 133 Total U. S. Government securities 30,527 -219 +2,485 Total loans and securities 30,9 88 + 19 +2,732 Cash items in process of collection (1,112) 5,677 +436 + 612 Bank premises 105 + 1 6 Other assets 316 -195 + 119 TOTAL ASSETS (1,693) 53,134 +236 +2,494 L I A B I L I T I E S Federal Reserve notes (581) 29,299 - 51 +1,330 Deposits: Member bank reserves 16,854 +417 + 307 U. S. Treasurer--general account 908 +108 + 444 Foreign 190 - 16 Other (**) 311 - - + 46 Total deposits (**) 18,263 +509 + 797 Deferred availability cash items (1,112) 4,038 -236 + 292 Other liabilities and accrued dividends 67 - 4 + 3 TOTAL LIABILITIES (1,693) 51,667 +218 +2,422 C A P I T A L A C C O U N T S Capital paid in 474 + 1 + 23 Surplus 934 «. - + 46 Other capital accounts 59 + 17 + 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 693) 53,13k +236 +2, 494 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the fol­ lowing pages--not consolidated) 32.5$ -•3 i - 3*4# Contingent liability on acceptances purchased for foreign correspondents 84 - 26 - - * Figures in parentheses are the eliminations made in the consoLfdating process; see comparable figures on combined Basis on the following pages. maturity distribution of loans and securities, February 20, 1963 (Acceptances and securities held under repurchase agreement 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 1+01 19 612 -3,857 16 days to 90 days 2 39 4,589 +3,134 91 days to 1 year -- 12, 368 + 595 Over 1 year to 5 years — 10,687 - 91 Over 5 years to 10 years -- 2,114 Over 10 years 157 -- Total i+03 58 30,527 5 §19 Digiti*ze*d fLore FsRsA StEhRa n $500,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 20, 1963 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 do]Liars) A S S E T S Gold certificate account 14,382 754 4,063 738 1,082 923 698 2,347 556 288 589 534 1,810 Redemption fund for F. R. notes 1,265 72 298 74 110 99 74 230 53 28 51 39 137 Total gold certificate reserves 15,647 4,36l 812 1,192 1,022 772 2,577 609 316 S5cT“ 573 1,947 F. R* notes of other Banks 581 44 130 52 46 33 69 53 18 33 16 34 53 Other cash 401 32 57 25 39 35 32 64 19 11 13 13 61 Discounts and advances 403 6 168 4 13 44 8 68 8 4 37 * 43 Acceptances: Bought outright 58 — 58 — — — — *- — -- -- -- -- U» S- Government securities: Bought outright— Bills 2,361 118 581 131 197 158 132 398 97 49 101 97 302 - Certificates 13,580 681 3,340 750 1,133 .*'910-,*"759 2,292 554 283 581 558 1,739 Notes 10,289 516 2,530 568 858 689 575 1,736 420 215 44l 423 1,318 Bonds 4,164 209 1,024 230 347 279 233 703 170 87 178 171 533 Total 30,394 1,524 7,475 1,679 2,03b 1,699 37129.. 1,241 1,301 T J W 3,892 Held under repurchase agreement 133 — 133 — — — — -- -- -- -- -- Total U. S. Government securities 30,527 1,524 7,608 1,679 2,535 2,036 1,699 5,129 l,24l 634 1,301 1,249 3,892 Total loans and secvirities 30,988 1,530 7,834 1,683 2,548 2,080 1,707 5,197 1,249 638 1,338 1,249 3,935 Cash items in process of collection 6,789 513 1,314 402 538 478 514 1,130 275 189 360 270 806 Bank premises 105 3 8 3 7 5 l4 24 6 4 7 13 11 Other assets 316 16 80 18 28 20 18 48 12 8 13 15 4o TOTAL ASSETS 54,827 2,964 13,784 2,995 4,398 3,673 3,126 9,093 2,188 1,199 2,387 2,167 6,853 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

* Less than $500,000* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis