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 Rosorves and Condition Stotonont of F.R. Banks For immediate release ***** December 5, 1963 h.4.1 The average of daily figures of total member bank reserves held during the week ended December 4 increased $301 million to $20,337 million. Estimated currency and coin of member banks increased $50 million and their reserve balances at the Federal Reserve Banks increased $251 million. Estimated required^reserves increased $27 million: and estimated excess reserves increased $274 million to $6l2 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $105 million, compared with the revised figure of $138 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $572 million in U. S. Government securities bought outright and $112 million held under repurchase agreement and $307 million in member bank borrowings, and a decrease of $194 million in Treasury deposits wx Federal Reserve Banks. The principal offsetting changes were a decrease of $495 million in Federal Reserve float and an increase of $401 million in currency in circulation. Total Reserve Bank credit increased $498 million. As of Wednesday, December 4, holdings of U. S. Government securities bought outright were $589 million higher than a week earlier, U. S- Government securities held under repurchase agreement were $6l million higher, and member bank borrowings were $479 million lower. Outright holdings of bills, notes, and bonds increased $514 million, $50 million, and $25 million, respectively. Averages of daily figures __ Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 4, Nov. 27, Dec• 5, Dec. 4, and related items 1963 1963 1962 1963 (in millions of dollars) Reserve Bank credit: U. S- Government securities-- Bought outright--System account 33,590 +572 + 3;,367 33,783- Held under repurchase agreement 205 +112 4- 17 193 Acceptances-- Bought outright 42 - 1 4- 4 43 Held under repurchase agreement 1 + 1 4- 1 5 Discounts and advances-- Member bank borrowings 507 +307 4- 415 89 Other 33 -- 4* 32 32 Float 1,631 3_95 - 201 1,817 Total Reserve Bank credit 36,010 +498 +3,,637 35,962 Gold stock 15,583 + 1 - 394 15,583 Treasury currency outstanding 5,586 - 7 30 5,583 57,179 +492 +3,273 57,128 Currency in circulation 37,273 +401 4-2,413 37,403 Treasury cash holdings 392 + 6 4- 2 387 Treasury deposits with F. R- Banks 812 -194 4* 312 586 Foreign deposits with F. R. Banks 167 + 16 4o 152 Other deposits with F. R. Banks 197 - 2 - 118 203 Other F. R. accounts (net) 1,264 + 14 4* 196 1,259 40,106 +252 +27T65 39,990 Member bank reserves: With Federal Reserve Banks 17,074 +251 4- 509 17,139 Currency and coin (estimated) 3,263 + 50 4- 299 3,423 Total reserves held 20,337 +301 4- 8C8 20,562 Required reserves (estimated) 19,725 + 27 4- 576' 19,980 Excess reserves (estimated) 612 +274 4- 232 582 On December 4, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,407 million, a decrease of $47 million for the week and an increase of $1,235 million from the comparable Digitized for FRASER date a year 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 Dec. 4y Nov. 27, Dec. 5, 1963 1963 1962 A S S E T S Gold certificate account 13,928 1 - 537 Redemption fund for F. R. notes 1,378 + 13 + 138 Total gold certificate reserves 15,306 + 12 - 399 * Cash (317) 233 7 82 Discounts and advances 121 - 484 - 70 Acceptances: Bought outright 43 + 4 Held under repurchase agreement 5 + 5 + 5 U. S. Government securities: Bought outright-- Bills 4,343 + 514 +2,099 Certificates 7,066 -- -6,119 Notes 17,729 + 50 +6,965 Bonds 4,645 + 25 + 563 Total bought outright 33,783 + 589 +3,508 Held under repurchase agreement 193 + 61 + 183 Total U. S. Government securities 33,976 + 650 +3,691 Total loans and securities 34,145 + 171 +3,630 Cash items in process of collection (1,274) 6,003 + 944 + 581 Bank premises io4 - - 1 Other assets 295 + 25 - 72 TOTAL ASSETS (1.591) 56,086 +1,145 +3,657 L I A B I L I T I E S Federal Reserve notes (317) 32,162 + 181 +2, 206 Deposits: Member bank reserves 17,139 + 680 + 928 U. S. Treasurer--general account 586 - 356 + 227 Foreign 152 8 - 66 Other (**) 203 + 29 - 113. Total deposits (**) 18,080 + 345 + 976 Deferred availability cash items (1,274 ) 4,186 + 595 + 366 Other liabilities and accrued dividends ____94 + l + 16 TOTAL LIABILITIES (1.591) 54,522 +1,122 +3,56A C A P I T A L A C C O U N T S Capital paid in 492 + 27 Surplus 934 - _ + 46 Other capital accounts ^ 138 + 23 + 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,591) 56,086 +1,145 +3,657 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) 30.3$ - - 2.8# Contingent liability on acceptances purchased for foreign correspondents 101 2 l4 * 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, DECEMBER 4. 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 86 14 1,032 +253 l6 days to 90 days 35 34 5,997 +137 91 days to 1 year 15,924 +185 Over 1 year to 5 years 8,504 + 52 — — -- Over 5 years to 10 years 2,300 + 23 -- Over 10 years — - _ 219 -- Total I21 m 33,976 +650 Digitized for FRASER http://*fr*as eLr.estslosu isftehd.aorng / %r/>(‘> 600. Federal Reserve Bank of St. Louis

H. 4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 4, 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 dollars) A S S E T S Gold certificate account 13,928 8^-6 3,391 G4-9 1,117 957 8l4 2,435 546 293 679 621 1,580 Redemption fund for F. R. notes 1,378 78 331 77 122 ill 82 247 56 30 51 149 Total gold certificate reserves 15,3C6 924 3,722-. 726 1,239 1,068 896 2,682 W T 323 730 665 1,729 F. R. notes of other Banks 31? 16 82 .21 11 15 30 23 12 35 11 i4 47 Other cash 233 13 51 10 9 13 21 36 l4 7 8 10 4i 8 Discounts and advances 121 k 22 15 3 4 11 18 3 2 26 5 Acceptances: Bought outright 43 — ~ 43 Held under repurchase agreement 5 -- 5 -- — -- -- - - — ~ — — — U. S. Government securities: Bought outright-- Bills 4,343 218 1,098 238 363 295 236 721 171 64 168 170 581 Certificates 7,066 355 1,786 388 591 479 383 1,174 278 136 273 277 946 Notes 17,729 889 4,482 973 1,482 1,203 962 2,945 697 342 686 694 2,374 Bonds 4,645 233 1,174 255 388 315 252 772 183 89 180 182 622 Total 33,783 1,695 8,540 1,854 2,824 2,292 1,833 5,612 1,329 651 1,307 1,323 4,523" — Held under repurchase agreement 193 — - 193 -- -- -- -- — Total U. S. Government securities 33,976 1,695 8,733 1,854 2,824 2,292 1,833 5,612 1,329 651 1,307 1,323 4,523 " i" Total loans and securities 34,145 1,699 8,803 1,869 2,827 2,296 1,844 5,630 1,332 653 1,333 1,331 4,528 Cash items in process of collection 7,277 622 1,425 44i 561 500 54o 1,136 315 239 367 349 782 Bank premises ic4 3 8 3 7 5 16 23 6 4 7 12 10 Other assets 295 15 76 16 25 18 17 46 11 5 13 1^4- 39 TOTAL ASSETS 57,677 3,292 14,167 3,086 4,679 3,915 3,364 9,576 2,292 1,266 2,469 2,395 7,176 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 CUT DECEMBER 4, 1963 San New Phila­ Cleve­ Rich­ St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions, of dol]Lars) L I A B I L I T I E S Federal Reserve notes 32,479 1,909 7,814 1,889 2,789 2,676 1,891 5,842 1,324 582 1,251 966 3,546 Deposits: Member bank reserves 17,139 775 4,732 709 1,228 739 905 2,533 612 420 825 1,025 2,636 U.S. Treasurer-general account 586 44 73 35 54 22 36 69 42 39 49 29 94 Foreign 152 6 1/53 8 13 6 7 19 5 3 6 8 18 Other 203 * 130 1 1 6 2 4 1 * 3 * 55 Total deposits 18,080 825 4,988 753 1,296 773 950 2,625 660 462 883 1,062 2,803 Deferred availability cash items 5,460 479 923 351 445 382 430 869 250 185 264 276 606 Other liabilities and accrued dividends 94 5 27 5 8 5 5 16 4 '.1 3 3 12 TOTAL LIABILITIES 56,113 3,218 13,752 2,998 4,538 3,836 37276" 9,352 2,238 1,230 2,4oi 2,307 6,967 " Capital acccumts Capital paid in 492 24 130 28 45 24 28 70 17 11 21 28 66 Surplus 934 44 251 54 87 44 51 132 32 22 4o 53 124 Other capital accounts 138 6 34 6 9 11 9 22 5 3 7 7 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 57,677 3,292 l4 ,167 3,086 4,679 3,915 3,364 9,576 2,292 1,266 2,469 2,395 7,176 Contingent liability on accept­ ances purchased for foreign correspondents 101 5 2/27 6 9 5 6 l4 4 2 4 6 13 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 337816 1,976 8,i8 l 1,945 2,960 2,781 1,971 6,013 1,380 6oT“ 1,276 1,037 3,690 Collateral for F. R. notes: Gold certificate account 7,239 433 1,700 425 610 625 4oo 1,300 310 119 267 200 85c Eligible paper 3C - - - - l - - 3 - - - - 2 — 24 — -- U. S. Government securities 27,409 1,574 6j6co 1,600 2,4oo 2,235 1,600 4,800 1,125 500 _ 1,100 875 3, coo Total collateral 34,678 2,007 8,300 2,026 3,010 2,863 2,0C0 6,100 1,437 619 1,391 1,075 3,850 l/ After deducting $99 million participations of other Federal Reserve Banks. 2/ After deducting $71+ million participations of other Federal P.eserve Banks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis