H.4.1 Factors Affecting Reserve Balances of Depository Institutions

. S. DOCS|?he average of daily figures of total member bank reserves held during the week encfyed December 18 increased $664 million to '$20,-66c million. Estimated currency and' coin of member tanks increased $230 million and their reserve balances at the Federal Reserve Banks increased $434 million. Estimated re­ quired reserves increased $351 million; and estimated excess reserves increased $313 million to $506 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $234 million, compared with the revised figure of $78 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $572 million in Federal Reserve float and $157 million in member bank borrowings, and a decrease of $74 million in "other” F. R. accounts (net). The principal offsetting changes were a decrease of $177 million in U. S. Government securities bought outright and increases of $134 million in currency in circulation and $51 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $562 million. As of Wednesday, December 18, holdings of U. S. Government securities bought outright were $42 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $177 million higher, and member bank borrowings were $l4 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 18, Dec. 11, Dec• 19, Dec. 18, and related items 1963 1963 1962 1963 (in millions of dollars) * Reserve Bank credit : U. S. Government securities-- Bought outright--System account 33,582 -177 +3,089 33,552 Held under repurchase agreement 83 - 7 + 83 180 Acceptances-- Bought outright 48 + 4 + 3 52 Held under repurchase agreement 17 + 12 - 1 32 Discounts and advances-- 1 Member bank borrowings 272 +157 + 109 275 Other 35 + 2 + 3^ 32 Float 2,1*71 +572 + 28 2,7 86 Total Reserve Bank credit 36,507 +562 +3,31*1* 36,891 Gold stock 15,562 -- - 396 15,583 Treasury currency outstanding 5,582 - 4 + 22 5,583 57,672 +559 +2,972 58,057 Currency in circulation 37,621 +131* +2,255 37,719 Treasury cash holdings 392 + 4 - 7 4co Treasury deposits with F. R. Banks 907 + 51 + 238 927 Foreign deposits with F. R. Banks 158 + 15 - 50 158 Other deposits with F. R. Banks 196 - 6 - 81 198 Other F. R. accounts (net) _ 1,191* - 7^ + 183 1,207 4o,468 +125 +2 ,539 40,609 Member bank reserves: With Federal Reserve Banks 17,204 +1*31* + 1*33 17,448 Currency and coin (estimated) 3,1*56 +230 + 274 3,750 Total reserves held 20,660 +664 + 707 21,198 Required reserves (estimated) 20,151* +351 + 716 20,521* Excess reserves (estimated) 506 +313 - 9 671* On December 18, 1963, U» S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,671 million, an increase of $67 million for the week and an increase of $1,296 million from the comparable Digitized for FRASER http://frasdera.sttelo uiasf edy.eorag/r ago. Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE EANKS (in millions cf dollars) Change since Dec. 18, Dec i 11 Dec. 19, 196s 19.63 1962 A S S E T S Gold certificate account 13,904 - 54c Redemption fund for F. R. notes 1,396 + i4o Total gold certificate reserves * 15,300 -- - 40G Cash (377) 191 16 - 96 Discounts and advances 307 l4 1C Acceptances: Bought outright 52 + 7 + 8 Held under repurchase agreement 32 + 27 + 9 U. S. Government securities: Bought outright-- Bills 4,112 42 +1,659 Certificates 7,066 — — -6,116 Notes 17,729 — +7,01? Bonds 4,645 — + 508 Total bought outright 33,552 42 +3,063 Held under repurchase agreement 180 + 177 + l80 Total U..S. Government securities 33,732 + 135 +3,24? Total loans and securities 34,123 + 155 +3,250 Cash items in process of collection (1,332) 7,692 +1,874 + 24s Bank premises 103 1 - Other assets 314 + 2 - 86 TOTAL ASSETS (1,?C9) 57,723 +2,014 +2,900 L I A B I L I T I E S Federal Reserve notes (377) 32, 444 + 75 +2,155 Deposits: Member Dank reserves 17,448 +1,263 + 335 U. S. Treasurer--general account 927 - i4c + 219 Foreign 158 6 kc Other (**) 198 + 3 - 98 Total deposits (**) 16,731 +1,120 + 407 Deferred availability cash items (1,332) 4,924 + 675 + 245 Other liabilities and accrued dividends 95 2 + 14 TOTAL LIABILITIES (l,7C9) 56,194 +2,C68 +2,821 C A P I T A L A C C O U N T S Capital paid in 494 + 2 + 27 Surplus 934 _ - + 46 Other capital accounts 101 - 56 + l*' TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,709) 57,723 +2,0l4 +2,900 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) 29 -7? i - • 7 1 ^ 1° - 2.3# Contingent liability on acceptances purchased for foreign correspondents 97 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 l8. 196 3 (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 271 43 882 +240 16 days to 90 days 36 4l 6,010 - 91 days to 1 year — 15,616 - ^2 Over 1 year to 5 years — 8,669 +l6- Over 5 years to 10 years -- . - 2,136 -l64 Over 10 years _ _ ___ 219 - - Total 307 ^4 35,732 +135 Dig*iti*ze dL feosr FsR AtShEeRn $500,0C0. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) '.....' STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN DECEMBER l6, 1963 — San New Phila­ Cleve­ Rich­ St. Minne­ Kansas ' _ _ Total Boston Atlanta Chicago 1 Dallas Fran­ York delphia land mond Louis apolis City | cisco (in millions of dollars) A S S E T S Gold certificate account 13,904 754 3,411 743 1,CC9 931 667 2,676 558 235 556 646 1,716 Redemption fund for F. R. notes 1,396 Be 335 79 121 119 82 247 57 29 54 44 149 Total gold certificate reserves 15,300 834 3,746 822 1,130 1,050 749 2,923 615 264 610 692 1,865 F. R. notes of other Eanks 377 27 105 22 16 25 29 33 13 33 12 17 45 Other cash 191 10 39 5 9 10 21 28 12 7 6 9 35 Discounts and advances 307 12 66 9 10 8 20 110 5 5 36 19 5 Acceptances: Bought outright 52 -- 52 -- -- -- -- -- -- -- -- -- Held under repurchase agreement 32 -- 32 — -U. S. Government securities: Bought outright-- Bills 4,112 2C8 1,037 216 347 276 244 681 164 81 168 150 540 Certificates 7,0 66 357 1,783 371 596 475 420 1,170 28l 139 288 258 928 Notes 17,729 897 4,472 932 1,496 1,192 1,054 2,935 705 349 724 646 2,327 Bonds 4,645 235 1,172 244 392 312 276 769 164 92 190 169 610 Total 33,552 17597" 8,464 1,763 2,831 2,255 T79S1* 5,555 1,33V 6sr 1,370 1,223 “"57405 Held under repurchase agreement 180 180 - - — — — — — — — — — Total U. S. Government securities 33,732 1,697 8,644 1,763 2,831 2,255 1,994 5,555 1,334 661 1,370 1,223 4,405 Total loans and securities 34,123 1,709 8,794 1,772 2,84l 2,263 2,Cl4 5,665 1,339 666 l,4c8 1,242 4,4lC Cash items in process of collection 9,024 686 1,603 592 724 704 619 1,586 422 268 494 395 931 Bank premises 103 3 8 3 6 5 16 23 6 4 7 12 1C Other assets 314 16 81 17 26 18 18 47 12 7 14 l4 42 TOTAL ASSETS 59,432 3,285 14,376 3,233 4,754 4,075 3,466 10,305 2,419 1,249 2,551 2,381 7,338 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 DECENEEF. 18, 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 dollars) L I A B I L I T I E S Federal Reserve notes 32,821 1,927 7,917 1,910 2,825 2,701 1,928 5,691 1,31+2 590 1,258 975 3,557 Deposits: Meriter bank reserves 17, 448 73^ 4,788 707 1,165 761 924 2,778 66 5 1+03 805 958 2,760 U.S. Treasurer-general account 927 57 69 38 64 46 47 358 54 38 75 47 34 Foreign 158 7 i/i+e 9 l4 7 8 21 5 4 6 9 20 Other 198 1 131 * * 2 1 2 * * 3 l 57 Total deposits 18,731 799 5,036 75^ 1,21+3 8l6 980 3,159 724 445 889 1,015 2,671 Deferred availability cash items 6,256 46l 992 1+79 539 476 466 1,022 296 177 33*+ 301 693 Other liabilities and accrued dividends 95 ____5 25 4 8 6 6 15 4 2 4 4 12 TOTAL LIABILITIES 57,903 3,212 13,970 3,147 !+,6l5 3,999 3,380 10,087 2,366 1,214 2,1+85 2,295 7,133 CAPITAL ACCOUNTS Capital paid in 494 2k 132 28 ^5 24 28 7C 17 11 21 28 66 Surplus 931 kk 251 5^ 87 44 51 132 32 22 Uo 53 124 Other capital accounts 101 5 23 4 7 8 7 16 4 2 5 5 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 59,1+32 3,265 14,376 3,233 ^,75^ i+, 075 3,466 10,305 2,419 l,2*+9 2,551 2,361 7,336 Contingent liability on acceptances purchased for foreign correspondents 97 5 2/26 6 9 5 5 l4 3 0 L. J+ 5 13 FEDERAL RESERVE AGENT’S ACCOUNTS F- R- notes outstanding 31+, 285 2,CC3 8,282 1,982 2,999 2,623 2,009 6,092 1,1+03 6ll 1,298 i,ci+9 3,73* Collateral for F. R. notes: Gold certificate account 7,265 1+33 l,70C 425 610 625 415 1,300 310 12C 277 2CC 8C0 Eligible paper 55 7 - - 7 4. _ _ 37 _ _ U . S . Government securitie s .27,863 1 .6c4 6,700 l,6co 2,450 2, 2C5 1.60C 5,ICC _ 1.125 5 CO l.lCC 875 3.0CC. Total collateral 35,183 2,037 8,4co 2,032 3,060 2,84l 2, Cl 5 6,4 oc 1,439 620 l f 4i4 If 0 7 5 3, =J. niiiicn participations 01 other Federal * Less than $500,000. 2/ After deducting $ 71 million participations of other Federal Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis