H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Bank; For immediate release January 2, I96h The average of daily figures of total member bank reserves held during the week ended January 1 increased $305 million to $21,303 million. Estimated currency and coin of member banks increased $2C6 million and their reserve balances at the Federal Reserve Banks increased $97 million. Estimated required reserves increased $87 million; and estimated excess reserves increased $218 million to $726 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $168 million, compared with the revised figure of $191 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $24l million in member bank borrowings and $69 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $66 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $239 million in Federal Reserve float and $39 million in gold stock, and an increase of $31 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $113 million. As of Wednesday, January 1, holdings of U. S. Government securities bought outright were $30 million higher than a week earlier, U. 3. Government securities held under repurchase agreement were $109 million lower, and member bank borrowings were $196 million lower. Averages of daily figures Member bank reserves, Week ended Change frcm week ended Wednesday, Reserve Bank credit, Jan. 1, Hoc. 25, Jan. 2, Jan. 1, and related items 1964 1963 1963 1964 (In n lillions of c Lollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 33,563 + 11 +3,085 33,582 Held under repurchase agreement 92 + 58 - 28 11 Acceptances — Bought outright 67 + 10 + 15 70 Held under repurchase agreement 88 + 32 + 34 92 Discounts and advances- Member bank borrowings 558 +241 - 156 31 Other 32 - 1 + 30 32 Float 2,752 -239 + 68 2,600 Total Reserve Bank credit 37,153 +113 +3~,o49 36,418 Gold stock 15,513 - 39 - 465 15,513 Treasury currency outstanding 5,580 - 6 + 12 5,577 58,246 + 67 +2,596 57,508 Currency in circulation 37,722 - 30 +2,373 37,662 Treasury cash holdings 390 - 5 9 390 Treasury deposits with F. R. Banks 927 + 24 + 299 880 Foreign deposits with F. R. Banks 185 + 31 - 95 171 Other deposits with F. R. Banks 227 + 17 - 92 291 Other F. R. accounts (net) l,l42 - 66 + 88 1,065 ^0,592 - 30 +2,563 40,459 Member bank reserves: With Federal Reserve Banks 17,653 + 97 + 30 17,049 Currency and coin (estimated) 3,650 +208 + 194 3,938 Total reserves held 21,303 +305 + 224 20,987 Required reserves (estimated) 20,577 + 87 + 532 20,792 Excess reserves (estimated) 726 +218 - 308 195 On January 1, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,675 million, a decrease of $23 million for the week and an increase of $1,720 million from the comparable date Digitized foar F RyAeSaErR ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEflBfeAt RESERVE BANKS (In millions of dollars) Change since Dec 31, Dec. 25, Jan. 2, 1963 1963 19.63,.- A S S E TS Gold certificate account 13,819 - 5 - 611 Redemption fund for P. R. notes 1,418 + 15 + 152 Total gold certificate reserves 15,237 + 10 - 459 Cash (h96) 182 - 100 Discounts and advances 63 -196 - 2k Acceptances: Bought outright 70 + 8 + 16 Held under repurchase agreement 92 + 33 + 35 U. S. Government securities: Bought outright — Bills 4,l42 + 30 +1,700 Certificates -6,116 7,066 Notes +7,012 17,729 Bonds + 508 4,645 Total bought outright +~3o +3,104 3375B2 Held under repurchase agreement -109 + 11 11 Total U. S> Government securities - 79 +3,115 33,593 Total loans and securities 33,818 -234 +3,i42 Cash items in process of collection (1,356) 6,435 -450 - 473 Bank premises 104 + 1 Other assets 4co + 66 + 25 TOTAL ASSETS (1,852) 56,176 "^07 +2,135 L I A B I L I T I ES Federal Reserve notes (^96) 32,381 -202 +2,271 Deposits: Member bank reserves 17,049 -286 184 U. S. Treasurer--general account 880 - 8 186 Foreign 171 + 33 77 Other 291 + 71 2 Total deposits -190 73 18,391 Deferred availability cash items (1,356) 3,835 -13^ 160 Other liabilities and accrued dividends!/ 82 - 18 17 TOTAL LIABILITIES (1,852) 54,689 -544 +2,055 C A P I T AL A C C O U N TS Capital paid in" ~ 449977 ++ 1 1 + 28 Surplus 999900 ++ 5566 + 56 Other capital accounts _- --112200 - 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ((11,,885522)) 565,61,71766 -^6o0"70 7 +2,135 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$ +.2$ •3lo Contingent liability on acceptances purchased for foreign correspondents 92 - 3 6 * 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 31. 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 advance s Acceptances Holdings during week Within 15 days 28 105 493 -228 l6 days to 90 days 35 57 6,322 +133 91 days to 1 year -. -- 15,754 + 16 Over 1 year to 5 years -- 8,669 Over 5 years to 10 years -- 2,136 Over 10 years -- -- 219 Total 53 162 33,593 79 1/ No accrued dividesn ds at end ofD ecember. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(h) STATEMENT OF CONDITION OF EACH FEEERAL RESERVE BANK ON DECEMBER 31, I963 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions5 of dollars) A S S E TS Gold certificate account 13,819 720 3,6c8 728 1,072 845 730 2,427 633 282 587 516 1,671 Redemption fund for F. R. notes 1,418 81 334 79 121 118 87 256 60 29 55 44 154 Total gold certificate reserves 15,237 801 3,942 807 1,193 963 817 2,683 693 311 642 560 1,825 F. R. notes of other Banks 496 37 110 35 31 39 41 50 22 41 16 23 51 Other cash 182 9 32 6 11 9 25 25 13 7 7 8 30 Discounts and advances 63 2 10 3 9 3 5 8 3 1 12 2 5 Acceptances: Bought outright 70 -- 70 ~- " __ -- -- -- -- Held under repurchase agreement 92 92 U. S. Government securities: Bought outright-- Bills 4,142 194 1,073 226 343 290 24l 666 163 80 167 159 54o Certificates 7,066 331 1,830 385 586 495 412 1,135 279 136 285 270 922 Notes 17,729 829 4,591 967 1,470 l,24l 1,033 2,848 699 343 715 679 2,314 Bonds 4,645 217 1,203 253 385 325 271 746 184 90 I87 178 6c6 Total 33,582 1,571 8,697 1,831 2,784 2,351 1,957 5,395 1,325 649 1,354 1,286 4,382 Held under repurchase agreement 11 --. 11 -„ _.. _... -„ -.. ~- -- -- -- -- Total U. S. Government securities 33,593 1,571 8,708 1,831 2,784 2,351 1,957 5,395 1,325 649 1,354 1,286 4,382 Total loans and securities 33,818 1,573 8,880 1,834 2,793 2,354 1,962 5,403 1,328 650 1,366 1,288 4,387 Cash items in process of collection 7,791 742 1,689 453 509 589 549 1,277 298 211 387 307 780 Bank premises 104 3 8 3 6 5 17 23 6 4 7 12 10 -Other assets 400 19 105 22 35 24 22 61 16 9 17 18 52 TOTAL ASSETS 58,028 3,184 14,766 3,160 J+,578 3,983 3,433 9,522 2,376 1,233 2,442 2,216 7,135 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT'OF C»lfBITIOH'€F EACH FBBERAL.KESERV.E BANK ON..DECEMBER.. 31,.,.19.63 San Total 1Bo ston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas 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 32,877 1,926 7,940 1,917 2,812 2,703 1,929 5,891 1,340 592 1,258 979 3,590 Deposits: Member bank reserves 17,049 691 4,995 768 1,158 707 916 2,498 652 4o4 767 844 2,649 U.S. Treasurer-general ac: count 880 37 227 32 44 79 63 65 83 46 73 51 80 Foreign 171 8 1/54 9 15 7 9 23 5 4 7 9 21 Other 291 4 "167 6 8 9 5 33 3 1 5 4 46 Total deposits 18,391 740 5,443 815 1,225 802 993 2,619 743 455 852 908 2,796 referred availability cash items 5,191 443 967 34l 399 398 422 789 239 149 264 240 540 Other liabilities and accn xed dividends * 82 4 20 4 7 6 5 13 3 2 3 4 11 TOTAL LIABILITIES . 56,541 3,113 14,370 3,077 4,443 3,9C9 3,349 9,312 2,325 1,198 2,377 2,131 6,937 — CAPITAL ACCOUNTS Capital paid in i 497 24 132 28 45 25 28 70 17 12 22 28 66 Surplus ; 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other -capital accounts TOTAL LIABILITIES ML -CAPITAL ACCOUNTS 58,028 3,184 14,766 3,l60 J*. 578 _ltS83_ 3,433 9,522 2,376 1,233 2,442 2 x 2l6_ 7,135 Contingent liability on aciee ptances purchased for fore:' gn c orre spondent s 92 i 5 S/25 5 9 4 5 13 3 2 4 5 12 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 34,317 2,004 8,274 1,976 2,992 2,787 2,009 6,147 1,402 618 1,296 1,054 "3,758 Collateral for F. R. notes: Gold certificate account 6,890 483 1,700 425 610 625 365 1,100 25C 120 272 190 750 Eligible paper 15 l l 11 U. S. Government securities 28.242 1.530 6,700 1,600 2,450 2,275 1,700 5,077 1,210 500 1,100 900 3,2oe_ Total collateral 35,147 2,013 8,400 2,026 3,c6o 2,901 2,065 6,177 1,4t2 620 1,383 1,090 3,950 l/ After deducting $117 million participations of other Federal Reserve Banks, * No accrued dividends at end of December. 2/ After deducting $ 67 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis