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 September 12, 19&3 H.4.1 The average of daily figures of total member bank reserves held during the week ended September 11 increased a net of $119 million to $19,804 million. Estimated currency and coin of member banks decreased $42 million and their reserve balances at the Federal Reserve Banks increased $l6l million. Estimated required reserves increased $82 million; and estimated excess reserves increased $37 million to $517 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by'$l63 million, compared with the revised figure o $155 million the week before. The principal changes supplying average reserve balances with Federal Reserve Baris vrere increases of $86 minion in u. S. Government securities bought outright, $120 million held under repurchase agreement, $139 million in Federal Reserve float, and $29 million in member bank borrowings. The principal offsetting change was an increase of $187 million in currency in circulation. Total Reserve Bank credit increased $373 million. As of Wednesday, September 11, holdings of U. S. Government securities bought outright were $35 million lower than a week earlier, U• S. Governmen securities held under repurchase agreement were $135 million lower, and member bank borrowings were $123 million higher. Averages of daily figures Week ended Change from week ended Wednesday Member bank reserves, Reserve Bank credit, Sept. 11, Sept. 4, sept. 12, Sept. 11, and related items J 1963 1963____ 1962 1963,__ [n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 32,350 + 86 +2,081 32,324 Held under repurchase agreement 294 +120 + 167 200 Acceptances--bought outright 37 - 1 + 2 ! 36 Discounts and advances-- Member bank borrowings 35^ + 29 + 277 1 305 31 + 1 + 19 i 30 Other 1,487 +139 + 87 ! 1,448 Float 34,553 +373 +2,632 1 3>,3>3 Total Reserve Bank credit 15,583 + 1 - 510 15,583 Gold stock Treasury currency outstanding 5,591 + 4 + 4l • 5,589 55,727 +378 +2,i 65 55,515 i ; 36,112 Currency in circulation 36,066 +187 +1,899 Treasury cash holdings 409 + 8 + 17 ; 417 Treasury deposits with F. R• Banks 824 + 18 + 321 : 1,007 l4l Foreign deposits with F. R. Banks 153 - 17 - 51 Other deposits with F. R. Banks 206 + l4 - 87 212 Other F. R. accounts (net) 1,219 +__5 + 380 ! 1,207 38,877 +216 +2,>79 I 39,096 j Member bank reserves: With Federal Reserve Banks 16,850 +161 - 315 i 16,419 Currency and coin (estimated) 2,95^ - 42 + 167 i 3,30^ Total reserves held I9,dc4 +119 - 148 19,723 Required reserves (estimated) 19,287 + 82 - l4o 19,358 Excess reserves (estimated) 517 + 37 8 365 On September 11, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,890 million, a decrease of $5 million from the corrected figure of $7,895 million a week ago and an increase Digitized foorf F R$A1S,E3R5 5 million from the comparable date a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since. Sept. 11, Sept. 4, Sept. 12, 1963 1963 1962 A S S E T S Gold certificate account 13,950 - 21 - 647 Redemption fund for F. R. notes 1,337 + 17 + 134 Total sold certificate reserves 157237 T -5 - 513 Cash 319 - 23 - 46 Discounts and advances 335 +123 + 160 Acceptances--bought outright 36 - 1 + 2 U. S. Government securities: Bought outright-- Bills 3,i44 - 35 + 210 Certificates 10,732 +1,194 Notes l4,oio .» - + 238 Bonds 4,438 — — + 486 Total bought outright 32,324 -"35 +2,128 Held under repurchase agreement 200 -135 + 129 Total U. S. Government securities 327524 -170 +2,257 Total loans and securities 32,895 - 48 +2,419 Cash items in process of collection (1.114) 5,455 +464 + 97 Bank premises 103 + l 4 Other assets 332 + 25 - 261 TOTAL ASSETS (1.552) 54,391 +415 +1,692' L I A B I L I T I E S Federal Reserve notes (438) 30,963 + 38 +1,865 Deposits: Member bank reserves 16,419 -265 - 704 U. S. Treasurer--general account 1,007 +163 + 380 Foreigi l4l - 13 - 77 Other 212 + 13 - 63 Total deposits 17,779 -102 - 464 Deferred availability cash items (1.114) 4,007 +465 + 126 Other liabilities and accrued dividends 79 - 6 + 7 TOTAL LIABILITIES (1.552) 52,828 +395 +1,53^ c a p i t a l a c c o u n t s Capital paid in 486 + 25 Surplus 934 - _ + 46 Other capital accounts 143. + 2Q + 87 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,552) 54,391 +415 , +1,692 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ - 2.0$ lowing pages--not consolidated) 31.: Contingent liability on acceptances purchased 100 7 31 for foreign correspondents Figures in parentheses are the eliminations made in the consolidating proc , see comparable figures on combined basis on the following pages.-------- -— . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 11, 1963 (Acceptances and securities held under repurchase agreement are classined 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 -300 Within 15 days 303 13 773 16 days to 90 days 5 23 5,411 +172 91 days to 1 year 27 -- 13,099 - 42 Over 1 year to 5 years -- 10,866 — Over 5 years to 10 years -- -- 2,176 Over 10 years 199 Total 335 35 32,524 -170 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 11, 1963 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (in m1.lli.ons of dollLars) A S S E T S Gold certificate account 13,950 676 3,456 672 1,170 981 749 2,340 57 __ 8 \ 282 664 591 1,791 Redemption fund for F • R • notes 1,337 75 321 77 120 111 80 230 5^ 28 51 43 147 Total gold certificate reserves 15,287 751 3,777 749 1,290 1,092 829 2,570 632 310 715 634 1,938 F. R. notes of other Banks 438 43 103 66 19 26 34 33 11 37 15 14 37 Other cash 319 21 60 19 30 25 25 49 19 10 9 10 42 Discounts and advances 335 5 147 9 6 14 8 91 1 1 45 4 4 Acceptances: Bought outright 36 -- 36 — — U. S. Government securities: Bought outright-- Bills 3,144 164 788 172 263 206 174 530 122 62 123 128 412 Certificates 10,732 559 2,690 587 898 704 593 l,8c8 417 210 421 437 1,408 Notes 14,010 730 3,511 766 1,173 919 773 2,361 545 275 550 569 1,838 Bonds 4.438 232 1,112 243 371 291 245 ....747. .173. .,.§7- 174 181 582 Total 32,324 1,685 8,101 1,768 2,705 2,120 1,785 5,446 1,257 634 1,268 1,315 4,240 Held under repurchase agreement 200 -- 200 -- -- -- -- -- - - - — Total U. S. Government securities 32,524 1,685 8,301 1,768 2,705 2,120 1,785 5,446 1,257 634 1,268 1,315 4,240 Total loans and securities 32,895 1,690 8,484 1,777 2,711 2,134 1,793 5,537 1,258 635 1,313 1,319 4,244 Cash items in process of —/"I collection 6,569 46l 1,184 417 501 505 523 1,059 294 221 335 305 7b4 Bank premises 103 3 8 3 7 5 15 23 6 4 7 12 1 1. 0 Other assets 332 17 82 18 28 22 19 53 13 6 14 16 44 TOTAL ASSETS 55,943 2,986 13,698 3,049 4,586 3,809 3,238 9,324 2,233 1,223 2,4o8 2,310 7,079 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 11, 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 dollLars) l i a b i l i t i e s Federal Reserve notes 31,401 1,842 7,527 1,834 2,705 2,544 1,808 5,672 1,278 555 1,231 949 3,456 Deposits: Member bank reserves 16,419 583 4,549 695 1,233 737 848 2,421 603 409 783 953 2,605 U.S. Treasurer-general account 1,007 67 162 89 93 59 50 147 54 57 71 49 109 F O o t r h e e i r gn 1 p 4 \p 1 * 6 13 4 9 2 8 1 6 5 7 2 1 1 2 3 6 1 8 1 ______ 1 50 8 _ Total deposits 17,779 656 4,892 793 1,339 807 907 2,600 662 469 86l 1,011 2,782 Deferred availability cash items 5,121 4io 84o 330 393 376 431 815 236 162 245 259 624 Other liabilities and accrued dividends 79 4 21 4 6 5 5 14 ..3 1 3 3 10 TOTAL LIABILITIES 54,380 2,912 13,280 2,961 4,443 3,732 3,151 9,101 2,179 1,187 2,340 2,222 6,872 CAPITAL ACCOUNTS Capital paid in 486 23 130 27 45 24 27 69 17 11 21 28 64 Surplus 934 44 251 54 87 44 51 132 32 22 4o 53 124 Other capital accounts 7 17 7 Q ..9 . ____22 .... 5 .. 3. -_______7________7_ - . -19- TOTAL LIABILITIES AND CAPITAL ACCOUNTS 55.Q43 _2_. 086 13,698. 3.o4q 4.586 l.Rno _ 3—238 9-32.4_— 2-233— —1-223— 0 o’1 n Contingent liability on accept­ ances purchased for foreign correspondents ICO _______5______2L 6 _______2_ 5 _______6_ ........14—----------- 3— _______ 2_ 4 _______£---------- 13- FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 32,886 1,909 7,885 1,914 2,868 2,686 1,890 5,859 1,349 648 1,271 1,010 3,597 Collateral for F. R. notes: Gold certificate account 7,198 433 1,600 425 580 630 400 i,4oo 310 130 285 205 800 Eligible paper 50 ... 7 - - - - -- ... * - - 43 - - — U. S. Government securities 26,544 1,494 6,400 1,600 2,400 2,075 1,550 4,500 1,100 550 1,000 875 3.000 Total collateral 33,792 1,927 8,000 2,032 2,980 2,705 1,950 5,900 1,410 680 1,328 1,080 3,800 l/ After deducting $ 99 million participations of other Federal Reserve Banks. 2/ After deducting $ 73 million participations of other Federal Reserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis