H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release HA.l "' December 12, 1963 The average of daily figures of total member bank reserves held during the week ended December 11 decreased $336 million to $19,984 million. Estimated currency and coin qf member banks decreased $32 million and their reserve balances at the Federal Reserve Banks decreased $3Gk million. Estimated required reserves increased $k0 million; and estimated excess reserves decreased $376 million to $209 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $9^ million, compared with the revised figure of $78 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $392 million in member bank borrowings and $115 million in U. S. Government securities held under repurchase agreement, and increases of $2li million in currency in circulation and $kk million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $268 million in Federal Reserve float and $169 million in U. S. Government securities bought outright. Total Reserve Bank credit decreased $65 million. As of Wednesday, December 11, holdings of U. S. Government securities bought outright were $189 million lower than a week earlier, U- S. Government securities held under repurchase agreement were $190 million lower, and member bank borrowings were $200 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 11, Dec. h Dec. 12, Dec 11, } and related items 1963 1963 1962 1963 , . tin millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 33,759 +169 +3,156 33,59^ Held under repurchase agreement 90 -115 5 3 Acceptances-- Bought outright hh + 2 1 Held under repurchase agreement 5 + h 19 5 Discounts and advances— Member bank borrowings 115 -392 + 8 289 Other 33 + 31 32 Float 1,899 +268 + ihh 1,769 Total Reserve Bank credit 35,9^5 +3,316 35,737 Gold stock 15,582 - 1 - 395 15,583 Treasury currency outstanding 5,586 + 27 5,583 57,H3 ^6 +2,948 56,903 Currency in circulation 37,^87 +214 +2,261 37,634 Treasury cash holdings 388 - 4 - 14 39^ Treasury deposits with F. R. Banks 856 + 44 + 378 1,067 Foreign deposits with F. R. Banks 1^3 - 24 - 64 164 Other deposits with F. R. Banks 202 + 5 - 66 195 Other P. R. accounts (net) + 4 + 2C0 1,264 1,268 ^0,3^3 +237 +2,694 40,718 Member bank reserves: With Federal Reserve Banks 16,770 ~3C4 + 253 16,185 Currency and coin (estimated) 3,2l4 - 32 + 204 . 3,671 Total reserves held 19,984 -336 +~~^57 19,856 Required reserves (estimated) 19,775 + 4o + 694 19,956 Excess reserves (estimated) 209 -376 - 237 -ICO On December 11, I963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,584 million, an increase of $177 million for the week and an increase of $1,283 million from the com parable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a) CONSOLIDATED STAl'M^iT OF UOuSiTICW OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Dec. 11, Dec. 4, Dec. 12, 1963 1963 1962 A S S E TS Gold certificate account 13,904 - 24 - 542 Redemption fund for F. R. notes 1,396 + 18 + 142- Total gold certificate reserves 15,300 ~6" - 4l5o * Cash (34l) 207 - 26 - 86 Discounts and advances 321 +200 + 83 Acceptances: Bought outright 45 + 2 2 Held under repurchase agreement 5 4 U. S. Government securities: Bought outright- Bills 4,154 -189 +1,649 Certificates 7,066 -6,119 Notes 17,729 +6,916 Bonds 4,645 + 497 Total "bought outright 33,594 ^189 +2,943 Held under repurchase agreement 3 -190 - 24 Total U. S. Government securities 33,597 z312 +2,919 Total loans and securities 33,968 -177 +3,000 Cash items in process of collection (1,122) 5,818 -185 + 235 Bank premises 104 1 Other assets 312 + 17 - 78 TOTAL ASSETS (1,463) 55,709 -377 +2, L I A B I L I T I ES Federal Reserve notes (34l) 32,369 +207 +2,175 Deposits: Member bank reserves 16,185 -954 - U. S. Treasurer--general account 1,067 +481 Foreign 164 + 12 Other 195 - 8 Total deposits 17,611 -469 Deferred availability cash items (1,122) 4,049 -137 Other liabilities and accrued dividends 97 + 3 TOTAL LIABILITIES (1,463) 54,126 ^396 9. £ £ I 1 A h A C C O U N TS Capital paid in 492 Surplus 934 Other capital accounts 157 + 19 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,463) 55,709 -377 4- » 1 266 535 49 66 4- 154 + 162 •f 14 +2, 505 + 27 + 46 + 92 +2, 670 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 A$ +.1$ 2.3$ Contingent liability on acceptances purchased for foreign correspondents 99 -2 11 * 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 11, 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 Accepto.n ces Holdings during week Within 15 days 285 13 642 -390 l6 days to 90 days 36 37 6,o64 + 67 91 days to 1 year 15,868 - 56 Over 1 year to 5 years 8,504 Over 5 years to 10 yeaIrTsS -- 2,300 -- Over 10 years -- -- 219 -- Total 321 50 337397 -379 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 DECEMBER 11, I963 San Nev Phila Cleve- Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (in millions of dollars) A S S E T -S Gold certificate account 13,904 700 3,726 716 1,036 890 784 2,320 555 286 625 477 1,789 Redemption fund for F. R. notes 1,396 80 335 79 121 119 82 246 57 29 55 44 149 Total gold certificate reserves 15,300 780 4,06l 795 1,157 1,009 866 2,566 612 315 680 521 1,938 F. R. notes of other Banks ; 341 22 98 23 13 21 27 27 11 33 13 14 39 Other cash ! 207 12 45 7 8 11 17 34 13 6 6 9 39 Discounts and advances ! 321 12 105 20 4 12 25 46 8 n 36 33 13 Acceptances: Bought outright ! 45 -- 45 -- __ -- -- - -- -- -- -- Held under rep\.i.rchase agreement 5 5 U. S. Government securities: Bought outright-- Bills 4,154 ; 212 1,035 219 350 284 233 695 165 81 167 168 545 Certificates ! 7,066 361 1,760 373 595 482 396 1,182 281 139 284 285 928 Notes 117,729 i 907 4,4l6 936 1,493 1,211 994 2,965 705 348 712 715 2,327 Bonds 4,645 238 1,157 245 391 317 261 776 185 91 187 187 610 Total 33,594 ; 1,718 8,368 1,773 2,829 2,294 1,884 5,618 1,336 659 1,350 1,355 4,410 Held under repurchase agreement :__.. 3 __ 3 -« -- -- -- -- -.- Total U. S. Government securities 33,597 1,718 8,371 1,773 2,829 2,294 1,884 5,618 1,336 659 1,350 1,355 4,410 Total loans and securities 33,968 1 1,730 8,526 1,793 2,833 2,306 1,909 5,664 1,344 666 1,386 1,388 4,423 Cash items in process of collection 6,940 530 1,294 398 492 539 512 1,160 343 224 360 329 759 Bank premises 1 104 3 8 3 7 5 16 23 6 4 7 12 10 Other assets 312 15 81 17 27 18 18 48 12 6 24 15 41 TOTAL ASSETS 57,172 3,092 14,113 3,036 4,537 3,909 3,365 9,522 2,341 1,254 2,466 2,288 7,249 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hr4.l(c) STATEMENT OF CONDITION OF EACH .FEDERAL RESERVE BANK ON DECEMBER 11, I963 San Total Boston New Phila Cleve Rich Atlanta Chicago -St. Minne Kansas Dallae Fl'QJl- York delphia land mond Louis apolis City : _£i§ico (In millions of dollars) L I A B I L I T I ES ! Federal Reserve notes 32,710 1,923 7,876 1,899 2,817 2,686 1,912 5,873 1,338 588 1,261 3,564 Deposits: Member bank reserves 16,185 605 4,397 671 1,062 728 860 2,480 607 396 795 891 2,693 U.S. Treasurer-general account 1,067 337 48 92 35 65 72 60 65 77 59 103 Foreign l64 6 1/73 7 12 6 7 17 4 3 5 7 17 Other 195 * 133 2 4 2 2 # 2 3 1 46 Total deposits 17,611 665 4,940 728 1,166 773 934 2,571 671 466 880 958 2,859 Deferred availability cash items 5,171 424 852 315 402 364 425 834 274 162 252 265 602 Other liabilities and accrued dividends 97 5 25 5 9 6 5 16 4 2 4 4 12 TOTAL LIABILITIES 55,589 3,017 13,693 2,947 4,394 3,829 3,276 9,294 2,287 1,218 2,397 2,200 7,037 CAPITAL ACCOUNTS Capital paid in 1+92 24 130 28 45 24 28 70 17 11 21 28 66 Surplus 934 44 251 54 87 44 51 132 32 22 40 53 124 Other capital accounts 157 7 39 7 11 12 10 26 5 3 8 7 22 TOTAL LIABILITIES AND _2a4i_ CAPITAL ACCOUNTS 57,172 3,092 .1^112 „_3^Q36^_ AL53I._ -3*5.02 -JL3£5_ 9,522 -L.25L. 2,_466 2,288 7,249 • —-••" --" ••*' •«? Contingent liability on accept ances purchased for foreign correspondents 99 5 2/27 6 9 5 .5. 14 ._ 3... 2 4 6 13_. FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,251 1,975 2,986 2,803 1,991 6,057 1,403 610 1,299 1,045 3,724 Collateral for F. R. notes: Gold certificate account 1,700 425 610 625 425 1,300 310 120 277 200 850 Eligible paper 13 — 11 7 34 U. S. Government securities 1,,57^ 6.700 1.600 2,400 2,233 1,600 5,100 1,125 500 1,100 875 3,000 Total collateral 2,007 8,4oo 2,038 3,010 2,869 2,025 6,4oo 1,442 620 i,4n 1,075 3,850 l/ After deducting $ 91 million participations of other Federal Reserve Banks. *Less than $500,000. 2/ After deducting $ 72 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis