H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Fidtrs Affecting Bank Reserves and For immediate release Condition Statement of F.R. Banks September 26, 1963 h .4.1... The average of daily figures of total member hank reserves held during the week ended September 25 increased $295 million to $20,179 million. ' Estimated currency and coin of member banks increased $13 million and their reserve balances at the Federal Reserve Banks increased $282 million. Estimated required reserves increased $183 million; and estimated excess reserves increased $112 million to $444 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $56 million, compared with the revised figure of $139 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $195 million in member bank borrowings and decreases of $166 million in currency in circulation, $86 million in Treasury deposits with Federal Reserve Banks, $32 million in Treasury cash holdings, and $28 million in "other" deposits with Federal Reserve Banks. The principal off­ setting changes were decreases of $169 million in U. 8. Government securities bought outright and $58 million in Federal Reserve float. Total Reserve Bank credit decreased $31 million. As of Wednesday, September 25, holdings of U. S. Government securities bought outright were $133 million higher than a week earlier and member bank borrowings were $142 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 25, Sept. 18, Sept, 26, Sept. 25, and related items 1963 1963 1962 1963 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 32,o4o -169 +2,700 32,107 Held under repurchase agreement Acceptances--bought outright Discounts and advances-- Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding » ou 1 30 + 2 + 3 36 388 +195 + 247 465 30 - 2 + 19 30 1,937 - 58 ^ -239 1,435 34,434 - 31 +2*732 34,073 15,582 -- - 486 15,583 5,587 - 3 +___39 5,588 55/503 - 33 +2,285 55,244 Currency in circulation 35,850 -166 +1> 968 35,841 Treasury cash holdings 385 - 32 - 16 388 Treasury deposits with F. R. Banks 856 - 86 + 362 940 Foreign deposits with F. R. Banks 139 - 3 - 80 l4l Other deposits with F. R. Banks 181 - 28 - 102 172 Other F.R. accounts (net) 1,140 •f 1 + 380 l,l4l 38,551 -316 +2,511 38,823 Member bank reserves: With Federa.1 Reserve Banks 17,052 +282 - 226 16,621 Currency and coin (estimated) 3,127 + 13 + 214 3,453 Total reserves held 20,179 +295 - 12 20,074 Required reserves (estimated) 19,735 +183 + 48 19,778 Excess reserves (estimated) 444 +112 - 60 296 On September 25, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,874 million, a decrease of $53 million for the week and an increase of $1,136 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 Sept. 25, Sept. 18, Sept.26, 1963 1963 1962 A S S E T S Gold certificate account 13,974 + 30 - 622 Redemption fund for F. R- notes 1,335 4 + 135 +---26 - 48? Total gold certificate reserves * 15,309 (539) 328 + 2 - 55 Cash Discounts and advances 495 + 142 - 278 Acceptances--bought outright 36 — - + 2 U. S. Government securities: Bought outright— Bills 2,967 + 133 +1,127 10,712 -- +1,174 Certificates 13,990 -- + 218 Notes 4,438 -- + 486 Bonds Total bought outright 32,107 + 133 +3,005 Held under repurchase agreement Total U. S. Government securities 32,107 + 133 +3,005 Total loans and securities 32,638 + 275 +2,729 Cash items in process of collection (1,256) 5,646 -1,800 + 182 103 -- 4 Bank premises Other assets 355 + 15 - 286 TOTAL ASSETS (1,795) 54379 -1,462 +2,079 L I A B I L I T I E S Federal Reserve notes (539) 30,695 - 152 +1,880 Deposits: Member bank reserves 16,621 + 4l - 484 U. S. Treasurer--general account 940 - 389 + 429 Foreign l4l 11 - no Other 172 - 19 - 118 Total deposits 17,874 - 378 - 283 Deferred availability cash items (1,256) 4,211 - 967 + 388 Other liabilities and accrued dividends 77 1 + 13 TOTAL LIABILITIES (1,795) 52,857 -1,498 +1,998 c a p i t a l a c c o u n T S Capital paid in 487 + 1 + 25 Surplus 934 — + 46 Other capital accounts 101 + 15 + 10 > (1,795) 54^79 -1,482 +2,079 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ - 2.: lowing pages--not consolidated) 31.5 Contingent liability on acceptances purchased 35 for foreign correspondents 1^3 ..... * 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 AND SECURITIES, SEPTEMBER 25> 1963 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 da,ys in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and advances Acceptances Holdings during week -111 Within 15 days ----- 485---- l4 449 16 days to 90 days 2 22 5,599 +284 12,818 - ko 91 days to 1 year 30 _ - 10,866 -- Over 1 year to 5 years 2,176 -- Over 5 years to 10 years - - Over 10 years «. _ -- 199 -- Total W 36 32,107 +133 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 25, 1963 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Lotlis apolis City cisco (In millions of dol]Lars ) A S S E T S Gold certificate account 13,974 762 3,637 751 1,058 925 744 2,485 526 275 575 483 1,753 Redemption fund for F. R. notes 1,335 76 319 76 119 109 79 235 55 28 51 42 146 Total gold certificate reserves 15,309 838 3,956 827 1,177 1,034 823 2,720 581 303 626 525 1,899 F. R. notes of other Banks 539 54 125 75 24 28 37 40 16 42 15 18 65 Other cash 328 20 63 19 29 27 26 46 19 11 10 12 46 Discounts and advances 495 18 107 3 5 57 32 101 18 3 53 26 72 Acceptances: Bought outright 36 — 36 -- -- -- -- -- -- -- — -- U. S. Government securities: Bought outright— Bills 2,967 154 771 152 247 194 165 495 116 55 123 119 376 Certificates 10,712 556 2,781 549 890 701 596 1,787 422 198 442 431 1,359 Notes 13,990 725 3,632 717 1,163 916 778 2,334 551 259 578 563 1,774 Bonds 4,438 230 1,153 227 369 290 247 741 175 82 183 178 563 Total 32,107 1,665 8,337 1,645" 2,669 2,101 1,786 5,357 1,264 594“ 1,326 1,291 4,072 Held under repurchase agreement — -- -- -- -- -- -- -- -- -- -- - ~ Total U. S. Government securities 32,107 1,665 8,337 1,645 2,669 2,101 1,786 5,357 1,264 594 1,326 1,291 4,072 Total loans and securities 32,638 1,683 8,480 1,648 2,674 2,158 1,818 5,458 1,282 597 1,379 1,317 4,144 Cash items in process of collection 6,902 480 1,282 4l6 556 533 531 1,069 301 220 370 384 760 Bank premises 103 3 8 3 7 5 15 23 6 4 7 12 10 Other assets 355 19 93 18 30 22 20 57 14 6 16 15 45 TOTAL ASSETS 56,174 3,097 14,007 3,006 4,497 3,807 3,270 9,413 2,219 1,183 2,423 2,283 6,969 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE' BARK ON SEPTEMBER 25> 1963 H.4.1(c) San Total Boston N Yo et r r k d P e h lp i h la ia ­ C l l a e n v d e­ R mo ic n h d ­ Atlanta Chicago L S ou t. is M ap in o n l e is ­ K C an it s y as Dallas F c r is a c n o ­ L I A B I L I T I E S Federal Reserve notes 31,234 1,834 7,504 1,823 2,695 2,542 1,791 5,665 1,270 553 1,216 942 3,399 Deposits: Member bank reserves 16,621 683 4,684 713 1,154 711 878 2,564 6o4 380 795 887 2,568 U.S. Treasurer-general account 940 56 278 43 47 75 66 72 4o 38 63 49 113 F O o t r h e e i r gn l 1 4 n l o 6 1 iftl 8 l 12 2 1 \ 5 1 6 8 1 ii Total deposits 17,874 746“ 5,121 765 1,215 796~~ 952 2,659 659“ 521 865 945 2,74o Deferred availability cash items 5,467 440 955 329 442 389 438 860 244 172 273 306 619 Ot d h i e v r i d l e ia nd b s ilities and accrued 77 5 20 3 6 5 4 12 3 2 3 4 10 TOTAL LIABILITIES 54,652 3,025 13,600 2,920 4,358 3,732 3,185 9,196 2,166 1,148 2,357 2,197 6,768 CAPITAL ACCOUNTS Capital paid in 487 23 130 28 45 24 27 69 17 11 21 28 64 Surplus 934 44 251 87 44 51 132 22 4o 53 124 Other capital accounts 101 _____i_ 26 _____ L_ 7 _____ Z_ 16 2 5 ______5____ _13_ TOTAL LIABILITIES AND 56,174 3,097 14,007 3,006 4,497 3,807 3,270 9,413 2,219 1,183 2,423 2,283 6,9_69__ CAPITAL ACCOUNTS Contingent liability on accept­ ances purchased for foreign 103 2/28 6 10 5 14 14 correspondents________________ _ FEDERAL RESERVE AGENT'S ACCOUNTS F, R. notes outstanding 32,88-5“ 1,908 7,909 1,915 2,863 2,685 1,878 5,870 1,345 645 1,266 1,018 3,582 Collateral for F. R. notes: Gold certificate account 7,101 433 1,600 425 580 648 400 1,300 310 115 285 205 800 Eligible paper 125 1 55 17 52 U. S. Government securities 26,848 1,514 6,4oo 1,600 2,400 2,059 1,550 4,800 1,100 550 1,000 875 3,000 Total collateral 34,074 1,947 8,000 2,026 2,980 2,762 1,950 6,100 1,427 665 1,337 l,c8o 3,800 l/ After deducting $98 million jJCLJ. t/JLWJLAU WJ. ^ J. ----------------------------------------------- — * Less than $500,000. 2/ After deducting $75 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis