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.4.1 March 28, 1963 The average of daily figures of total member bank reserves held during the week ended March 27 increased $79 million to $19,586 million- Estimated cur­ rency and coin of member banks increased $37 million and their reserve balances at the Federal Reserve Banks increased $42 million. Estimated required reserves decreased $19 million; and estimated excess reserves increased $98 million to $478 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $237 million, compared with the revised figure of $323 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $89 million in U. S. Government securities bought outright and $116 million held ■under repurchase agreement and $184 million in member bank borrowings, and a decrease of $96 million in currency in circulation. The principal offsetting changes were a decrease of $274 million in Federal Reserve float and an increase of $169 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $ll4 million. As of Wednesday, March 27, holdings of U. S. Government securities bought outright were $4l million lower than a week earlier, U. S. Government securities held under repurchase agreement were $124 million higher, and member bank borrowings were $65 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 27, Mar. 20, Mar. 28, Mar. 27, and related items 1963 ___ 1963 1062 __1963 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 30,519 + 89 +1; ,868 30,513 Held under repurchase agreement 116 +116 + 88 124 Acceptances— bought outright 51 - 1 4- 8 49 Discounts and advances-- Member bank borrowings 24l +184 + 155 194 Other 30 -- - 35 30 Float 1,598 -274 + 350 1,223 Total Reserve Bank credit 32,555 +Ii4 + 2;^35 32,133 Gold stock 15,878 __ 788 15,878 Treasury currency outstanding 5,576 - 1 - 11 5,578 54,009 +113 +1;,635 53,589 Currency in circulation 34,415 - 96 + 1;,464 34,440 Treasury cash holdings 451 + 3 18 440 Treasury deposits with F. R. Banks i,oi4 +169 + 533 851 Foreign deposits with F. R. Banks 186 + 6 - 11 184 Other deposits with F. R. Banks 174 - 17 - 144 189 Other F. R. accounts (net) 1,078 + 5 + 50 1,075 37,319 + 71 4-1;,910 37,179 Member bank reserves: With Federal Reserve Banks 16,690 + 42 - 276 16,410 Currency and coin (estimated) 2,896 + 37 + 2l4 3,174 Total reseives held 19,586 + 79 - 62 19,584 Required reserves (estimated) 19,ic8 - 19 _ 81 19,202 Excess reserves (estimated) 478 + 98 + 19 382 On March 27, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,34l million, an increase of $53 million for the week and an increase of $1,572 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 Mar. 27, Mar. 20, Mar. 28, 1963 1963 1962 A S S E T S Gold certificate account l4, 338 + 21 - 858 Redemption fund for F. R. notes 1,268 -- + 128 Total gold certificate reserves 15, 606 + 21 - 730 -X- Cash (465) 394 5 20 Discounts and advances 224 + 65 - 11 Acceptances--hought outright b9 l + 8 U. S. Government securities: Bought outright— Bills 2,252 4l - 578 Certificates 13,580 -- +8,608 Notes 10, kio -- -6,477 Bonds b, 271 -- + 233 Total bought outright 30,513 41 +1,786 Held under repurchase agreement 124 + 12b + 72 Total U. S. Government securities 307637 + 83 +1,858 Total loans and securities 30,910 + 1L7 +1,855 Cash items in process of collection (1,101) Ip, 902 -1,644 + 626 Bank premises 103 1 5 Other assets 385 + 20 + 30 TOTAL ASSETS (1,566) 52,300 -1, b62 +1,756 L I A B I L I T I E S Federal Reserve notes (L65) 29, 424 - 50 +1,478 Deposits: Member bank reserves 16,4l0 - 95 - 376 U. S. Treasurer--general account 851 - 45 + 389 Foreign 184 + 13 - 33 Other 189 2 - 95 Total deposits 17,63b - 129 - 115 Deferred availability cash items (l,101) 3,679 -l,303 + 321 Other liabilities and accrued dividends 69 + 2 -- TOTAL LIABILITIES (1,566) 50,806 -T7556 +1,684 C A P I T A L A C C O U N T S Capital paid in'" — 478 + 1 + 25 Surplus 934 -- + 46 Other capital accounts 82 + 17 + 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,566) 52,300" -1, 462 +TT756 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) 32.8 io + .1$ - 2.6# Contingent liability on acceptances purchased for foreign correspondents 83 -- - 17 * 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, MARCH 27, 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 191 13 520 - 9 l6 days to 90 days 33 36 4,603 +96 91 days to 1 year -- 12, 328 - 4 - - Over 1 year to 5 years -- 10,838 -- Over 5 years to 10 years — 2,183 -- Over 10 years 165 -- — - - Digitized for TFRoAtSaElR 225 59 30,637 +83 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 27, I963 H.4.1(b) San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis C ity cisco (in m illions of dollars) A S S E T S Gold ce rtifica te account 14,338 830 3,646 736 1,113 956 2,361 585 3°3 632 522 l,?43 1,268 72 304 72 113 99 n7* 228 52 28 51 39 136 Redemption fund for F. R. notes Total gold certificate reserves 15,606 902 3,950 808 1,226 1,055 785 2,589 637 331 683 561 2,079 F. R. notes of other Banks 465 31 103 4l 31 24 68 37 13 28 13 33 43 Other cash 394 28 64 24 34 32 36 67 19 9 12 13 56 Discounts and advances 224 6 l6 5 3 8 4 136 6 2 19 5 14 Acceptances: Bought outright 49 -- 49 — - ~ — — •“ "" U. S. Government securities: Bought o utright-- B ills 2,252 113 554 124 188 151 126 380 92 47 96 93 288 Certificates 13,580 681 3,340 750 1,133 910 759 2,292 554 283 581 558 1,739 Notes 10,410 521 2,560 575 868 697 582 1,757 425 218 446 428 1,333 Bonds 4,271 2l4 1,050 236 356 286 239 720 175 89 183 176 547 Total 30,513 1,529 7,504 1,685 2,545 2,044 1,706" 5,149 1,246" 637 1,3C6" 1,255 3,907 Held under repurchase agreement 124 — - 124 - -- -- -- -- — ~ — — ** " Total U. S. Government securities 1,529 7,628 1,685 2,545 2,044 1,706 5,149 1,246 637 1,306 1,255 3,907 Total loans and securities 30,910 1,535 7,693 1,690 2,548 2,052 1,710 5,285 1,252 639 1,325 1,260 3,921 Cash items in process of collection 6,003 426 1,170 362 502 4io 463 911 262 170 309 291 727 Bank premises 103 3 8 3 7 5 14 23 6 4 7 12 11 Other assets 385 19 97 22 33 24 22 62 15 8 17 17 49 TOTAL ASSETS 53,866 2,944 13,085 2,950 4,381 3,602 3,098 8,974 2,204 1,189 2,366 2,187 6,886 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) statement.,of coedhigh ofeach- federal reserve bank oh march 27, 1963 San Hew 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 E S Federal Reserve notes 29,889 1,770 7,152 1,802 2,609 2,417 1,695 5,413 1,255 567 1,189 882 3,138 Deposits: Member bank reserves 16,4l0 653 **-, 377 691 1,161 686 855 2,441 628 390 802 909 2,817 U. S. Treasurer-general account 851 67 115 60 58 69 64 108 58 50 6l 58 83 Foreign 184 9 1/49 11 17 9 10 26 6 4 8 10 25 Other 189 * 127 1 2 ... 3 2 1 1 1 1 2 48 Total deposits 17,634 729 4,668 763 1,238 767 931 2, 576 693 445 872 979 2,973 Deferred availability cash items 4,780 370 844 297 392 342 386 761 202 l4l 238 239 568 i Other liabilities and accrued dividends .. 69 : 4 18 _____3 .... 5. 4 4 12 ..... .3 2 .. 3 _____3 8 TOTAL LIABILITIES 52,372 2,873 12,682 2,865 4,244 3,530 3,016 8,762 2,153 1,155 2,302 2,103 6,687 CAPITAL ACCOUNTS -Capital paid in 478 i 23 129 27 44 23 27 67 16 11 20 27 64 Surplus 934 ; 44 251 54 87 44 51 132 32 22 4o 53 124 Other capital accounts • 82 ! 4 ... 23. 4 6 ......5 4 .. 13 .....3 1 4 4 ____11 "-TOTAL LIABILITIES AND 1 .1 CAPITAL ACCOUNTS 1 53,866 2,944 13,085 2,950 4,381 3,602 3,098 8,974 2,204 1,189 2,366 2,187 6,886 Contingent liability on accept­ ances purchased for foreign correspondents 83 4 2/22 5 8 4 4 12 3 2 3 5 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 31,246 1,832 7,467 1,874 2,783 2,536 1,772 5,563 1,316 654 1,230 939 3,260 Collateral for F. R. notes: Gold certificate account 7,283 443 1,600 465 580 650 4oo 1,400 310 130 290 215 800 Eligible paper 26 - - - - 3 - - - - — - - 5 — 18 — — U. S. Government securities 25.360 1,434 6,000 1,500 2,250 1,976 1,450 4,500 1,100 550 1.000 800 2.80C Total collateral 32, 669 1,877 7,600 1,968 2,830 2, 626 1,850 5,900 l, 415 680 1,308 1,015 3,600 1/ After deducting $135 million partlcipati .ons of ( other Federal Reserve Banks, 2/ After deducting $ 6l million participatj.ons of <other Federal Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis