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.^l * May l6, 1963 The average of daily figures of total member bank reserves held during the week ended May 15 decreased a net of $72 million to $19*6^ million. Estimated currency and coin of member banks increased $190 million and their reserve balances at the Federal Reserve Eanks decreased $262 million. Estimated required reserves decreased $179 million; and estimated excess reserves increased $107 million to $^69 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $270 million, compared with the revised figure of $252 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $115 million in U. S. Government securities^held under repurchase agreement, $7^* million in Federal Reserve float, and $36 million in gold stock, and increases of $178 million in currency in circulation^and $78 million in Treasury deposits with Federal Reserve Banks. The principal off­ setting changes were increases of $98 million in U. S. Government securities bought outright and $89 million in member bank borrowings. Total Reserve Bank credit decreased million. As of Wednesday, May 15> holdings of U. S. Government securities bought outright were $2+0 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $53 million lower, and member bank borrowings were $260 million higher. Outright holdings of bills decreased $40 million. Holdings of certificates increased $867 million and notes decreased $867 million, reflecting the exchange of $2,393 million certificates and $867 million notes maturing May 15 for $3,260 million of 3-l/4 per cent certificates maturing May 15,1964. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 15, May 8, May l6, May 15, and related items 1963 1963 1962 1963 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 31,211 + 98 +1,7C0 31,184 Held under repurchase agreement 122 -115 + 101 105 Acceptances--bought outright 45 + 1 + 12 44 Discounts and advances-- Member bank borrowings 199 + 89 + 135 612 Other 30 - 1 - 35 30 Float 1,471 - 74 + 195 1,421 Total Reserve Bank credit 33,077 - 4 +2,107 33,396 Gold stock 15,828 - 36 - 628 15,828 Treasury currency outstanding 5,570 - 10 - 25 5/T2 5V7VT5 T -49 +1,454 547796 Currency in circulation 34,933 +178 +1,527 34,964 Treasury cash holdings 4i6 - 19 7 4l8 Treasury deposits with F. R. Banks 1,047 + 78 + 510 1,050 Foreign deposits with F. R. Banks 156 - 16 - 63 167 Other deposits with F. R. Banks 189 - 2 - 153 193 Other F. R. accounts (net) 984 - 6 - 12 1,173 377725 +212 +1,801 377965 Member bank reserves: With Federal Reserve Banks 16,750 -262 - 348 16,830 Currency and coin (estimated) 2,894 +190 + 177 3,234 Total reserves held 197644 - 72 - 171 20,664 Required reserves (estimated) 19,175 -179 - 153 i 19,198 Excess reserves (estimated) 469 +107 - 18 866 On May 15, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7>6>32 million, an increase of $67 million for the week and an incre8.se of $2,022 million from the comparable Digitizdeda tfoer FRaA SyEeRa r ago. 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 May 15, May 8, May l6, 1962 19.63.__ 1963 A S S E T S Gold certificate account 14, 264 12 - 743 Redemption fund for F. R. notes 1,270 + 2 + 112 Total gold certificate reserves - 10 - 631 * u 3 3 f Cash (335) 352 4 8 Discounts and advances 642 + 260 + 362 Acceptances--bought Outright 44 + 11 U. S. Government securities: Bought outright— Bills 2,672 4o - 532 Certificates 14,438 + 867 +8,932 Notes 9,695 - 867 -7,297 Bonds 4,379 -- + 627 Total bought outright 31,185 40 +1,730 Held under repurchase agreement 105 - 53 + 105 Total U. S. Government securities 31,289 - 93 +1,835 Total loans and securities 31,975 + 167 +2, 208 Cash items in process of collection (1,295) 6,360 +1,375 + 281 Bank premises 103 __ 4 Other assets 278 - 249 + 42 TOTAL ASSETS (1,630) 54,602 +1,279 +1,888 L I A B I L I T I E S Federal Reserve notes (335) 29,869 + 36 +1,568 Deposits: Member bank reserves 16,830 + 59 - 278 U. S. Treasurer--general account 1,050 + 66 + 423 Foreign 167 16 - 44 Other 193 1 - 168 Total deposits 18,240 + 108 - 67 Deferred availability cash items (1,295) 4,939 +1,187 + 311 Other liabilities and accrued dividends 80 + 1 + 5 TOTAL LIABILITIES (1,630) 53,128 +1,332 +1,817 £ A £ I £ A L a c c o u n t s Capital paid in” ~ 479 - - + 25 Surplus 934 + 46 Other capital accounts 6l - 53 -- TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,630) 54,602 +1,279 +1,888 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.l/o - .1/ - 2.31o Contingent liability on acceptances purchased for foreign correspondents 83 -- - 25 * Fibres in parentheses are the eliminations made in the consolidating process; see comparahle figures on combined basis on the following pages. __________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 15, 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 640 13 gsf -3, 507 16 days to 90 days 2 31 1,599 + 182 91 days to 1 year ** -- 18,870 +6,247 Over 1 year to 5 years -- -- 8,248 -2, 787 Over 5 years to 10 years -- - - 2, 020 - 228 Over 10 years - - -- 165 -- Digitized T fo o r t F a R l ASER 652 55 31,289 - 93 ht*tp*:/ /fLraesesrs.s tlotuhisafend .o$rg5/ 00,000. Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT of condition of each federal reserve eank on may 15, 1963 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (in m illions of dollars) A S S E T S Gold certificate account Ik, 26k 743 3,717 782 1,219 938 734 2,4l8 578 287 570 608 1,670 Redemption fund for F. R. notes 1,270 70 309 73 111 103 73 226 54 28 50 38 135 Total gold certificate reserves 15,534' 813 4,026. 855 1,330 i,o4i" 807 2,644 632 315 620 646 1,805 F. R. notes of other Banks 335 14 89 28 19 22 36 30 12 22 11 17 35 Gther cash 352 23 58 18 32 29 32 6l 17 8 10 11 53 Discounts and advances 642 11 306 2 52 53 18 57 18 5 60 3 57 Acceptances: Bought outright 44 44 U. S. Government securities: Bought outright— 2,672 l4o 666 147 221 178 146 444 107 56 114 102 351 B ills Certificates 14,438 755 3,599 791 1,191 963 790 2,398 579 303 617 552 1,900 Notes 9,695 507 2,417 531 800 647 530 l,6 ll 388 204 4l4 371 1,275 Bonds 4,379 229 1,091 240 361 293 240 727 175 92 187 168 576 Total 31,184 1,631" 7,773 1,709 2,573 2,c8l 1,706 5,180' 1,249 “655" 1,332 1,193 4,102 ~ Held under repurchase agreement 105 105 -- __ -- — -- -- — -- - — — — Total U. S. Government securities 31,289 1,631 7,878 1,709 2,573 2,C8l 1,706 5,180 1,249 655 1,332 1,193 4,102 Total loans and securities 31,975 1,642 8,228 1,7H 2,625 2,134 1,724 5,237 1,267 660 1,392 1,196 4,159 Cash items in process of collection 7,655 451 1,500 463 644 593 592 1,297 360 223 382 327 823 Bank premises 103 3 8 3 7 5 l4 23 6 4 7 12 11 Other assets 278 14 71 16 24 17 16 42 10 6 13 13 36 TOTAL ASSETS 56,232 2,960 13,980 3,094 4,681 3,841 3,221 9,334 2,304 1,238 2,435 2,222 6,922 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON MAY 15, 1963 1 | 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 30,204 1,788 7,222 1,813 2,6l6 2,425 1,719 5,459 1,263 573 1,205 893 3,228 Deposits: Member bank reserves 16,830 663 4,820 751 1,297 706 86l 2,484 619 377 802 882 2, 568 U.S. Treasurer-general account 1, 050 7^ 199 51 59 130 51 84 77 6l 68 71 125 Foreign 167 8 l/k9 9 15 8 9 23 5 4 7 9 21 Other 193 * 130 •3f 1 3 1 1 1 1 3 1 51 Total deposits 18,2k0 7^5 5,198 811 1,372 847 922 2, 592 702 443 880 963 2, 765 Deferred availability cash items 6,234 353 l, 143 382 551 493 494 1, 062 286 186 284 279 721 Other liabilities and accrued dividends 80 4 20 4 7 5 4 13 3 2 3 3 12 TOTAL LIABILITIES 54,758 2,890 13,583 3,010 4,546 3,770 3,139 9,126 2,254 1, 204 2,372 2,138 6,726 CAPITAL ACCOUNTS Capital paid in 479 23 129 27 44 23 27 67 16 11 20 28 64 Surplus 934 44 251 54 87 44 51 132 32 22 4o 53 124 Other capital accounts 61 3 17 3 4 4 4 9 2 1 3 3 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 56,232 2,960 13,980 3,094 4,681 3,84i 3,221 9,334 2,304 1,238 2,435 2,222 6,922 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 31,511 1,833 7,524 1,887 2,783 2,5^1 1,787 5,6o4 1,337 658 1,238 945 3,374 Collateral for F. R. notes: Gold certificate account 7,253 443 1,600 465 580 620 400 i,4oo 310 130 290 215 800 Eligible paper 76 — -- * -- -- — -- 17 -- 59 — - — U. S. Government securities 25,470 1,434 6,100 1,500 2,250 1,986 1,450 4,500 1,100 550 1, 000 800 2,800 Total collateral 32,799 1,877 7,700 1,965 2,630 2,6c6 1,850 5,900 1,427 680 1,349 1, 015 3,6co * Lefts than $500,000. Digitized2 fo/r FARfAtSEeRr deducting $ 6l million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis