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 May 2, 1963 H.4.1 The average of daily figures of total member bank reserves held during the week ended May 1 decreased $126 million to $19,601 million. Estimated cur­ rency and coin of member banks decreased $31 million and their reserve balances at the Federal Reserve Banks decreased $95 million. Estimated required reserves increased $39 million; and estimated excess reserves decreased $165 million to $348 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $254 million, compared with the revised figure of $35° million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $397 million in Federal Reserve float and $63 million in member bank borrowings. The principal offsetting changes were increases of $57 million in U. S. Government securities bought outright and $162 million held under repurchase agreement, and decreases of $104 million in currency in circulation, $33 million in Treasury deposits with Federal Reserve Banks, and $24 million in foreign deposits with Federal Reserve Banks. Total Reserve Ban credit decreased $243 million. As of Wednesday, May 1, holdings of U. S. Government securities bought outright were $505. million higher than a week earlier, U- S. Government securities held under repurchase agreement were $352 million higher, and member bank borrowings were $701 million lower. Averages of daily figures Member bank reserves, Week ended Chance from week ended T Reserve Bank credit, May 1, Apr. 24, May 2, May 1, and related items IQ 63 1063 1062 ___ iq 6 r (In millions of dollars) Reserve Bank credit: U. S. Government securities— 31,042 Bought outright--System account 30,646 + 57 +1,553 Held under repurchase agreement 162 +162 + 67 352 Acceptances--bought outright 46 - 1 + 9 44 Discounts and advances-- Member bank borrowings 95 - 63 + 31 123 Other 30 - l - 35 30 Float 1,522 -397 + 171 _1,474 Total Reserve Bank credit 32,500 -243 +1,798 337055 Gold stock 15,877 — - 617 15,878 Treasury currency outstanding 5,581 + 3 9 5,580 53,959 -239 +1,171 357523 Currency in circulation 35,581 -1C4 +1,448 34,660 Treasury cash holdings 440 + 3 + 21 443 960 Treasury deposits with F. R. Banks 963 - 33 + 356 Foreign deposits with F. R. Banks 167 - 24 - 46 170 Other deposits with F. R. Banks 196 + 4 - 170 183 Other F. R. accounts (net) 997 + 10 + 39 1,001 37,355 1T53 +1,649 377517 Member bank reserves: With Federal Reserve Banks 16,615 - 95 - 476 17,1C6 Currency and coin (estimated) .2,986 - 31 + 209 3,130 Total reserves held 19,601 -126 7 267 20,236 Required reserves (estimated) 19,253 + 39 - 157 19,578 758 Excess reserves (estimated) 358 -165 - 110 On May 1, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,577 million, a decrease of $104 million for the week and an increase of $1,932 million from the comparable date a jear ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STAxENH.a OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 1, Apr. 24, May 2, 1963 1963 1962 A S S E T S Gold certificate account ll+, 326 - 731 Redemption fund for F. R. notes 1,269 - 5 + 104 Total gold certificate reserves 15,595 - 5 - 627 * (424) 370 + 1+ - 15 Cash -7C6 -- Discounts and advances 153 44 - 2 + 8 Acceptances— bought outright U. S. Government securities: Bought outright-- Bills 2,653 +505 - 592 Certificates 13, 571 +8,59I+ 10,52L -- -6, 1+1+5 Notes 4, 29b - - + 203 Bonds 31,d+2 +505 +1,760 Total bought outright Held under repurchase agreement 352 +352 + 279 Total U. S« Government securities 31,394 +857 +2,C39 +11+9 +2, 0I+7 Total loans and securities 31,591 Cash items in process of collection (1,100) 5,81+1 +3I+9 + 51+7 Bank premises 1C 3 - _ 1+ Other assets 1+83 + 11 + 38 TOTAL ASSETS (1,524) 537983 +508 +1,986 L I A B I L I T I E S Federal Reserve notes (424) 29,610 + 1+3 +1,1+88 Deposits: Member bank reserves 17,ic6 +356 + ll+6 U. S. Treasurer-general account 960 -105 + 293 Foreign 170 - 15 2l+ 183 - 15 - 217 Other Total deposits 18, 419 +221 + 198 Deferred availability cash items (1, ICO) 1+, 367 +225 + 22l+ Other liabilities and accrued dividends 79 + 4 + 4 TOTAL LIABILITIES (1,521+) 52,1+75 ^93 +l,9ll+ C A P I T A L A C C O U N_T__S_ Capital paid in 1+79 + 25 + 46 Surplus 93*+ Other capital accounts 95 + 15 + l TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 52I+) 53,983 +508 +1,986 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shovn on the fol­ lowing pages--not consolidated) 3^#2°jo -.2 <f> - 2.% Contingent liability on acceptances purchased l4 for foreign correspondents ^3 * 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 MID SECURITIES, MAY 1, 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 Changes Discounts and advances Acceptances Holdings during week Within 15 days 122 12 4, 002 +3,683 16 days to 90 days 31 32 1, 46l -2,996 91 days to 1 year -- 12, 603 + 170 Over 1 year to 5 years ic,980 -- Over 5 years to 10 years -- 2,183 -- Over 10 years — -- 165 -- Digitized for FTRoAtSaElR 153 ■55 31, 39l+ + SFr http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMEilT OF COIKITIOII CF EACH FEDERAL RESERVE BAI3K Oil MAY 1, 1963 San Total Boston Hew 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 certificate account 14,326 724 3,799 759 1,077 937 689 2,353 6c8 258 6o4 623 1,895 Redemption fund for F. R» notes 1,269 71 301 74 112 106 73 227 52 28 51 39 135 Total gold certificate reserves 15,595 795 4,100 83T 1,189 1,043 762“ 2,580 660“ 286“ 65^ 662“ 2,030 F. R. notes of other Banks 424 23 98 37 32 27 50 33 15 28 12 24 45 Other cash 370 26 60 19 33 30 34 64 17 8 13 13 53 Discounts and advances 153 7 10 4 15 19 l4 31 7 5 16 3 22 Acceptances: Bought outright 44 44 - ... — - - - - - - -- -- -- -- U. S. Government securities: Bought outright-- i B ills 2,653 j 139 661 145 219 177 145 44l ic6 56 113 102 349 Certificates 13,571 1 710 3,383 744 1,120 905 742 2,254 544 285 580 519 1,785 ITotes 10,524 i 550 2,623 577 868 702 576 1,748 421 221 450 403 1,385 Bonds 4,294 j 225 1,071 235 354 287 235 713 172 90 183 164 565 Total 31,042 [ 1,624 7,738 1,701 2,561 2,071 l, 698 5,156 1,243 652 1,326 1,188 4,c84 Held under repurchase agreement 352 -- 352 -- -- — — -- -- -- -- -- — Total TJ. S. Government securities 31,394 j 1,624 8,090 1,701 2,561 2,071 1,698 5,156 1,243 652 1,326 1,188 4,C84 Total loans and securities 31,591 1,631 CO H -3r 1,705 2,576 2,090 1,712 5,187 1,250 657 1,342 1,191 4,106 Cash items in process of collection 6,941 537 1,336 420 571 460 554 1,159 296 190 345 282 791 Bank premises 103 3 8 3 7 5 14 23 6 4 7 12 11 Other assets 483 25 123 27 4o 30 27 77 19 10 20 21 6k TOTAL ASSETS 55,507 3,c4o 13,869 3,044 4,448 3,685 3,153 9,123 2,263 1,183 2,394 2,205 7,100 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l*.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OI'I MAY 1, I963 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco L I A B I L I T I E S Federal Reserve notes 30,03^ 11,779 7,199 1,809 2,603 2,1*24 1,700 5,1*24 1,257 570 1,198 887 3,181* Deposits: Member hank reserves 17,106 671 1*,905 737 1,191 70l* 852 2,1*51 667 371 798 9ll* 2,81*5 U.S. Treasurer-general account 960 58 188 1*2 53 101 1*3 99 51 1*9 57 76 ll*3 Foreign 170 ! 8 1/53 9 15 8 9 22 5 1* 7 9 21 Other ! 183 j} * .. 125 1 1 1* 1 1 1 * l 1 ... 1*7 Total deposits 18,1*19 ; 737 5,271 789 1,260 817 905 2,573 72l* 1*21* 863 1, 000 3,056 i Deferred availability cash items 5, **67 1*1*8 970 356 1*1*2 367 1+60 899 228 152 266 230 61*9 Other liabilities and accrued I dividends 79 } k 23 1+ 6 1* 1* 13 ____ 3 2 3 .3.. 10 TOTAL LIABILITIES 53,999 2,968 13,1*63 2,958 1*, 311 3,612 3,069 8,909 2,212 l,ll*8 2,330 2,120 6,899 CAPITAL ACCOUNTS 1 i ! Capital paid in 1*79 'i 23 129 27 1*1* 23 27 67 16 11 20 28 61* Surplus 93** i 1*1* 251 51* 87 1*1* 51 132 32 22 1*0 53 12l* Other capital accounts 95 5 26 5 6 6 6 . . 15 ....3 2 1* 1* 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 55,507 3,ol*o 13,869 3, ol*l* 1*, 1*1*8 3,685 3,153 9,123 2,263 1,183 2,394 _2,205_ 7,100 Contingent liability on accept­ ances purchased for foreign correspondents 83 1* 2/22 5 8 1* l* 12 3_ 2 ... 3 _____5 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 31,^25 1,838 7,521 1,880 2,781 2,555 1,761 5,576 1,315 65I* 1,230 955 3,359 Collateral for F. R. notes: Gold certificate account 7,253 1*1*3 1,600 1*65 580 620 1*00 1,1*00 310 130 290 215 8C0 Eligible paper 23 - - - - 2 - - — - - - - 6 15 ~ - U. S. Government securities 25,1*70 l.l*3l* 6.100 1.5C0 2.250 1.986 _. 1.1*50. 1*,5-C0 1,100 550 1,CC0 800 2.800 Total collateral 32,71*6 1,877 7,7C0 1,967 2,830 2,606 1,850 5,900 1,1*16 680 1,305 1,015 3,6co _ _ _ _ ns of other Federal Reserve Banks. 2/ After deducting $ 6l million participations of other Federal Reserve Banks. * Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis