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 H.4.1 January 9, 1964 The average of daily figures of total member bank reserves held during the week ended January 6 decreased a net of $296 million to $21,137 million. Estimated currency and coin of member banks decreased $328 million and their reserve balances at the Federal Reserve Banks increased $32 million. Estimated required reserves increased $31 million; and estimated excess reserves decreased $327 million to $kk-9 million. Excess reserves exceeded member bank "borrowings at the Federal Reserve Banks by $85 million, compared with the revised figure of $218 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $75 million in U. S. Government securities held under repurchase agreement, and decreases of $4l6 million in currency in circulation and $72 million in "other" F.R. accounts (net). The principal offsetting changes were decreases of $291 million in Federal Reserve float and $19^ million in member bank borrowings, and an increase of $39 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $447 million. As of Wednesday, January 5, holdings of U. S. Government securities bought outright were $241 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $l4l million higher, and member bank borrowings were $262 million higher. UNIVERSITY OF OREGON WHIV io .,. v*t JJBRARY Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 8, Jan. 1, Jan. 9, Jan. 8, and related items 1964 1964 1963 196k (In n lillions of c Lollars) \ Reserve Bank credit: U. S. Government securities-- Bought outright--System account 33,531 - 32 +3,127 33,3^1 Held under repurchase agreement 167 + 75 + I67 152 Acceptances-- Bought outright 71 + 4 + 12 71 Held under repurchase agreement 80 - 8 + 51 74 Discounts and advances-*- Member bank borrowings 364 -194 + 301 293 Other 32 _„ + 30 32 Float 2,46l -291 - 267 1,956 Total Reserve Bank credit 36,706 -447 +3,420 35,919 Gold stock 15,513 __ - 465 15,513 Treasury currency outstanding 5,582 + 2 + 10 5,583 57,801 -445 +2,965 57,015 Currency in circulation 37,306 -4l6 +2,284 37,187 Treasury cash holdings 402 + 12 21 403 Treasury deposits with F. R. Banks 966 + 39 + 255 1,082 Foreign deposits with F. R. Banks 168 - 17 - 58 171 Other deposits with F. R. Banks 205 - 22 - 101 214 Other F. R. accounts (net) 1,070 - 72 + 79 1,063 4o,il6 -476 +2,437 4o,120 Member bank reserves: With Federal Reserve Banks 17,685 + 32 + 528 16,895 Currency and coin (estimated) 3,452 -328 + 313 3,68o Total reserves held 21,137 -296 + 841 20,575 Required reserves (estimated) 20,688 + 31 + 830 20,500 Excess reserves (estimated) 449 -327 + 11 75 On January 8, ±96k, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,6*4-2 million, a decrease of $33 million for the week and an Increase of $1,665 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 STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Ja n. 8, Dec. 31, Jan. 9, 1964 1963 1963 A S S E TS Gold certificate account 13,809 - 10 - 606 Redemption fund for F. R. notes l, 424 + 6 + 147 Total gold certificate reserves 15,233 ^~5 r-ir^9 * Cash (648) 229 + 47 - 94 Discounts and advances 325 +262 + 250 Acceptances: Bought outright 71 + l + 12 Held under repurchase agreement 74 - 18 + 49 U. S. Government securities: Bought outright-- Bills 3,901 -24l +1,671 Certificates 7,c66 -6,116 Notes 17,729 +7,012 Bonds 4,645 + 508 Total bought outright 33,341 -241 +3,075 Held under repurchase agreement 152 +l4l + 152 Total U. S. Government securities 33,493 -100 +3,227 Total loans and securities 33,963 +145 +3,538 Cash items in process of collection (i,iM) 6,227 -208 + 256 Bank premises io4 Other assets k26 4- 26 26 TOTAL ASSETS (1,792) 36,182 T~6 +3,267 L I A B I L I T I ES Federal Reserve notes (648) 31,956 -425 +2,174 Deposits: Member hank reserves 16,895 -154 + 372 U S. Treasurer--general account 1,082 +202 + 269 Foreign 171 - 70 Other 214 - 77 - 78 Total deposits 18,362 - 29 + 493 Deferred availability cash items (1,144) 4,271 +436 + 500 Other liabilities and accrued dividends 1/ 84 + 2 + 17 TOTAL LIABILITIES (1,792) 54,673 +37IH4- C A P I T AL A C C O U N TS Capital paid in 497 + 27 Surplus 990 + 56 Other capital accounts 22 + 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,792) 56,182 +3,267 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) 29-9# + .2<& Contingent liability on acceptances purchased for foreign correspondents h * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures en cenbined basis on the following pages. MATURITY DISTRIBUTION OF LOANS MP SECURITIES, JANUARY 8/ 1964 (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 291 87 824 +331 16 days to 90 days 3h 58 6,034 -288 91 days to 1 year -- «- 15,611 -143 Over 1 year to 5 years „ -* S,669 __ Over 5 years to 10 years 'S -- 2,136 — Over 10 years -- -- 219 -- Total 325 145 33,493 -100 1/ No accrued dividends at end of December. 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'JANUARY 8, 1964 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) A S S E TS Gold certificate account 13,809 786 3,334 701 1,028 966 74l 2,470 558 300 6l4 622 1,689 Redemption fund for F. R. notes i 1,424 81 333 79 125 116 87 261 60 29 54 45 154 Total gold certificate reserves 15,233 867 3,667 780 1,153 1,082 828 2,731 618 329 668 667 1,843 F. R. notes of other Banks 648 53 135 57 43 52 57 61 25 42 17 32 74 Other cash £29 | 13 45 11 13 12 28 31 14 8 9 9 36 Discounts and advances 325 4 168 4 8 11 10 52 8 C 12 12 31 Acceptances: Bought outright 71 -- 71 -- -- __ _- -- -- __ -- Held under repurchase agreement 74 74 U. S. Government securities: Bought outright-- Bills 3,901 185 994 212 328 267 223 644 156 78 158 150 5C6 Certificates 7,c66 1 336 1,8C0 383 594 484 4c4 1,166 282 141 286 272 918 Notes 17,729 843 4,517 962 1,492 1,214 1,013 2,925 708 352 718 683 2,302 Bonds 4,645 221 1,183 252 391 318 266 766 186 92 188 179 603 Total "33,341 1,585 8,494 1,809 2,805 2,283 1,906 5,5Cl 1,332 663 1,35C 1,284 4,329 Held under repurchase agreement _.152 152 Total U. S« Government securities 33,493 1,585 8,646 1,809 2,805 2,283 1,906 5,501 1,332 663 1,350 1,284 4,329 _ Total loans and securities 33,963 1,589 8,959 1,813 2,813 2,294 1,916 5,553 l,34o 668 1,362 1,296 4,360 Cash items in process of collection 7,371 558 1,^65 421 492 523 537 1,186 329 219 409 373 859 Bank preaises 1C4 3 8 3 6 5 17 23 6 4 7 12 1C Other assets 426 20 110 23 38 26 24 66 17 9 18 19 *° TOTAL ASSETS 57,974 3,103 14,389 3,108 4,558 3,994 3,407 9,651 2,349 1,279 2,490 2,4c8 7,238 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4. 1(c) STATEMENT' OF'CCOTUTIOr OF^EACH FEEERAL RESERVE BANK--ON JANUARY 8, 1964 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) L I A B I L I T I ES Federal Reserve notes 32,604 1,913 7,873 1,900 2,790 2,679 1,898 5,857 1,331 588 1,249 972 3,55* Deposits: Member bank reserves 16,895 601 4,732 710 1,158 760 920 2,548 648 426 805 961 2,626 U.S. Treasurer-general account 1,082 79 274 62 4l 66 59 149 52 46 67 68 119 Foreign 171 8 9 15 7 9 23 5 4 7 9 21 Other Pi 4 * -147 i 7 ? p # 50 Total deposits 18,362 688 5,207 782 1,215 840 990 2,722 706 476 881 1,039 2,816 Deferred availability cash items 5,415 426 881 337 4io 395 429 846 257 178 291 308 657 Other liabilities and accrued dividends 84 4 26 5 6 5 5 12 3 2 3 3 10 TOTAL LIABILITIES 56,465 3,031 13,987 3,024 4,421 3,919 3,322 9,437 2,297 1,244 2,424 2,322 7,037 CAPITAL ACCOUNTS Capital paid in 497 24 132 28 45 25 28 70 17 12 22 28 66 Surplus 990 47 264 55 90 49 56 140 34 23 43 57 132 Other capital accounts 22 1 6 1 2 1 1 4 l * 1 1 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 57,974 3,103 14,389 3,108 4,558 3,994 3,407 9,651 2,349 1,279 2,490 2,408 7,238 Contingent liability on accept ances purchased for foreign c orre spondent s 88 4 2/24 ... 5 8 4 3 12 .._ J. 2 4 5 12 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 1,998 8,292 1,972 2,986 2,778 2,005 6,145 1,399 616 1,292 1,051 3,741 3^,275 Collateral for F. R. notes: Gold certificate account 6,740 483 1,700 425 500 585 365 1,100 250 120 272 190 750 Eligible paper 20 2 7 11 U. S. Government securities 28,394 Ja530 6,700 1,600 2,550 2,227 1,700 5,177 1,210 500 1,100 900 3,2C0 Total collateral 35,154 2,013 8,400 2,027 3,050 2,812 2,065 6,277 1,467 620 1,383 1,090 3,950 1/ After deducting $117 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 6k million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis