H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 December 26, 1963 The average of daily figures of total member "bank reserves held during the week ended December 25 increased a net of $325 million to $20,990 million. Estimated currency and coin of member banks decreased $27 million and their reserve balances at the Federal Reserve Banks increased $352 million. Estimated required reserves increased $315 million; and estimated excess reserves increased $10 million to $498 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $l8l million, compared with the revised figure of $216 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $520 million in Federal Reserve float and $45 million in member bank borrowings. The principal offsetting changes were an increase of $131 million in currency in circulation and a decrease of $79 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $533 million. As of Wednesday, December 25, holdings of U. S. Government securities held under repurchase agreement were $6~0 million lower and member bank borrowings were $48 million lower than a week earlier. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 25, . Dec. 18, Dec. 26, Dec. 25, and related items 1963 1961. 1962 1963 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 33,552 30 +3,063 33,552 Held under repurchase agreement 3*- ^9 + 13 120 Acceptances- Bought outright 57 9 + 10 62 Held under repurchase agreement 56 39 + 29 59 Discounts and advances-- Member bank borrowings 317 ^5 + 10 227 Other 33 2 + 32 32 Float 2,991 +5^ 0 + 149 2,916 Total Reserve Bank credit 37,o4o +533 +3,307 36,968 Gold stock 15,552 - 30 - 426 15,513 Treasury currency outstanding 5,586 + 4 + _22 5,587 58,179 +507 +2,9c4 58,068 Currency in circulation 37,752 +131 +2,281 37,873 Treasury cash holdings 395 + 3 4oi Treasury deposits with F.R. Banks 903 - 4 238 888 Foreign deposits with F.R. Banks 15k 138 - 4 Other deposits with F.R. Banks 210 85 220 + 14 Other F.R. accounts (net) 1,208 182 1,213 + 14 40,622 +2,560 4o,733 +154 Member bank reserves: With Federal Reserve Banks 17,556 +352 + 3^ 17,335 Currency and coin (estimated) 3 ,^ - 27 + 321 3,73^ Total reserves held 20,990 +325 + 665 21,069 Required reserves (estimated) 20,492 +315 + 728 20,493 Excess reserves (estimated) 498 + 10 63 576 On r-e<wr/b«r 25, I963, TJ. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,698 million, an increase of $27 million for the w*ek and an increase of $l,5k6 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 SfA$EM$& OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since rrs,' Dec. 25, Dec. Dec. 25] IS£ 3 1962 A S S E TS Gold certificate account 13;824 80 606 Redemption fund for F. R. notes 1,403 •f -1 137 Total gold certificate reserves 15,227 - 73 #'' Cash (395) 182 - 9 94 Discounts and advances 259 - 48 + 11 Acceptances: Bought outright 62 + 10 + 14 Held under repurchase agreement 59 + 27 + 22 U . S. Government securities: Bought outright-- Bills 4,112 +1,659 Certificates 7,c66 -6,116 Notes 17,729 +7,012 Bonds 4,645 + 508 Total bought outright 33,552 +3,063 Held under repurchase agreement 120 - 60 - 25 Total U. S. Government securities 33,672 +3,038 Total loans and securities 3^,052 - 71 +3,085 Cash items in process of collection (1,173) 6,885 -807 +1,279 Bank premises 103 1 Other assets 33^ + 20 - 12 TOTAL ASSETS (1,568) 5"677B3 ^0 +3,788 L I A B I L I T I ES Federal Reserve notes (395) 32,583 +139 +2,189 Deposits: Member bank reserves 17,335 -113 + 468 U. S. Treasurer--general account 688 - 39 + 286 Foreign 138 - 20 - 91 Other 220 + 22 - 102 Total deposits 18,581 -15c + 561 Deferred availability cash items (1,173) 3,969 -955 + 931 Other liabilities and accrued dividends 100 + 5 + 15 TOTAL LIABILITIES (1,568) 55,233 ^95i +3, 696 C A P I T AL A C C O U N TS Capital paid in 496 + 2 + 29 Surplus 934 + 46 Other capital accounts 120 + 19 + 17 TOTAL LIABILITIES AND CAFITAL ACCOUNTS (1 568) 56,783 ^0 4.3 jQ% 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 •5* - .2$ Contingent liability on acceptances purchased for foreign correspondents 95 - 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, DECEIVER 25,1961 (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 224 72 721 -161 16 days to 90 days 35 49 6,189 +179 91 days to 1 year -- -- 15,738 - 78 Over 1 year to 5 years -- -- 8,669 Over 5 years to 10 years -- -- 2,136 Over 10 years -- zz 219 Total 259 121 33,672 To 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 25, I963 San Nev Phila Cleve Rich St. Minne Kansas Total jB oston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (in millions of dollars) A S S E TS Gold certificate account 13,824 737 3,419 764 1,132 1,011 747 2,193 528 287 591 638 1,777 Redemption fund for F. R. notes 1,403 . 80 334 79 121 118 82 256 57 29 55 43 149 Total gold certificate reserves 15,227 817 3,753 843 1,253 1,129 • 829 2,449 585 316 646 681 1,926 F. R- notes of other Banks 395 29 93 28 19 25 34 38 16 35 13 19 46 Other cash 182 9 4o 5 9 8 27 22 13 6 6 8 29 Discounts and advances 259 13 88 6 8 20 7 43 10 7 18 7 32 Acceptances: Bought outright 62 — 62 -- — -- -- -- -- — -- 59 59 Held under repurchase agreement JB- S. Government securities: Bought outright-- Bills ! 4,112 207 1,039 219 342 275 235 686 164 78 165 159 5^3 Certificates 7,c66 356 1,785 377 588 472 405 1,179 282 135 282 273 932 Notes |i7,729 892 4,480 945 1,475 1,185 1,015 2,957 706 337 710 687 2,340 Bonds j 4,645 ! 234 1,174 248 386 311 266 774 185 88 186 18C 613 Total 133,552 1,689 8,478 1,789 2,791 2,243 1,921 5,596 1,337 638 1,343 1,299 4,428 Held under repurchase agreement ! 120 120 Total U. S. Government securities 133,672 1,689 8,598 1,789 2,791 2,243 1,921 5,596 1,337 638 1,343 1,299 4,428 Total loans and securities 34,052 ; 1,702 8,807 1,795 2,799 2,263 1,928 5,639 1,347 645 l,36l 1,306 4,460 Cash items in process of collection i 8,058 ! 539 1,764 4l4 575 603 560 1,347 388 269 407 327 865 Bank premises 1 103 ! 3 8 3 6 5 16 23 6 4 7 12 10 Other assets 334 16 87 18 31 20 19 51 13 6 14 15 44 TOTAL ASSETS 58,351 3,115 14,552 3,106 4,692 4,053 3,413 9,569 2,368 1,281 2,454 2,368 7,380 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF' CONDITION OF EACH FEDERAL RESERVE BAKE ON DECEMBER 25, 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 ES Federal Reserve notes 32,978 1.933 7,960 1,919 2,828 2,708 1,929 5,921 1,345 592 1,260 979 3,604 Deposits: Memter bank reserves 17,335 663 4,876 721 1,233 791 909 2,512 618 442 811 961 2,798 U• S. Treasurer-general £L C count 888 58 145 54 76 43 75 109 65 35 54 55 119 Foreign 138 6 lA3 8 12 6 7 18 4 3 6 8 17 Other 220 * l42 1 1 2 2 15 * l 2 54 Total deposits 18,581 727 5,206 784 1,322 842 993 2,654 687 481 873 1,024 2,988 Deferred availability cash items 5,1^2 376 312 393 4i9 398 757 278 168 250 274 569 Other liabilities and accnl ed dividends 100 5 26 4 9 6 6 16 4 4 4 4 12 TOTAL LIABILITIES 56,801 3,o4i l4,l40 3,019 4,552 3,975 3,326 9,34B 2,314 1,245 2,387 2,281 7,173 CAPITAL ACCOUNTS "Capital paid In 1+96 24 132 28 45 25 28 70 17 12 21 28 66 Surplus 93^ 44 251 54 87 44 51 132 32 22 40 53 124 Other capital accounts 120 6 29 5 8 9 8 19 5 2 6 6 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 58,351 3,115 14,552 3,106 4,692 4,053 3,413 9,569 2,368 1,281 2,454 2,368 7,380 Contingent liability on ace; eptances purchased for fore]L gn correspondents 95 5 2/26 6 9 4 5 13 3 2 4 5 13 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,272 1,980 2,995 2,783 2, CC6 6,137 i,4o6 618 1,297 i,c49 3,759 Collateral for F. R. notes: Gold certificate account 1,700 425 610 625 4i-. 1,100 310 120 272 190 850 Eligible paper 4 18 9 17 U. S. Government securities 6,700 1,600 2,450 2,195 1,650 5,ico 1,150 500 1,100 875 3,000 Total collateral 2,037 8,4oo 2,029 3,o6o 2,838 2,065 6,200 1,469 620 1,389 1,063 3,850 l/ After deducting 95 million participations of other Federal Reserve Banks. Less than $500,000. 2/ After deducting 69 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis