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. Banks For immediate release H-4.1 January 16, 196^ The average of daily figures of total member bank reserves held during the week ended January 15 decreased $297 million to $20,885 million. Estimated currency and coin of member banks decreased $75 million and their reserve balances at the Federal Reserve Banks decreased $222 million. Estimated required reserves decreased $382 million; and estimated excess reserves increased $85 million to $558 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $197 million compared with the revised figure of $1C9 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $258 million in Federal Reserve float and $204 million in holdings of U. S. Government securities, and an increase of $67 million in Treasury deposits with Federal Reserve Banks. The principal off setting change was a decrease of $323 million in currency in circulation. Total Reserve Bank credit decreased $^75 million. As of Wednesday, January 15, holdings of U. 3. Government securities bought outright were $19 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $55 million lower, and member bank borrowings were $231 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 15, Jan. 8, Jan. l6, Jan. 15, and related items 196^ 19i3. 1964 (in millions of dollarsj Reserve Bank credit: U. S. Government securities- Bought outright--System account 33,338 -193 +3,111 33,322 Held under repurchase agreement 156 - 11 + 156 97 Acceptances-- Bought outright 72 + 1 + 11 71 Held under repurchase agreement 67 - 13 + 43 52 Discounts and advances-- Member bank borrowings 361 - 3 282 62 Other 33 + 1 32 32 Float 2,203 -258 189 2,386 Total Reserve Bank credit 36,231 -475 +3,447 36,022 Gold stock 15,513 - 450 15,513 Treasury currency outstanding 5,58*1 + 2 + 21 5,585 57,327 -474 +3,017 57,120 Currency in circulation 36,983 -323 +2,289 36,888 Treasury cash holdings 4o6 + 4 6 4l7 Treasury deposits with F.R. Banks 1,033 + 67 266 996 Foreign deposits with F.R. Banks 167 - 1 155 Other deposits with F. R Banks 213 + 8 85 219 Other F.R, accounts (net) 1,C62 - 8 82 1,063 39,864 -252 +2,481 39,738 Member bank reserves: With Federal Reserve Banks 17,463 -222 + 536 17,382 Currency and coin (estimated) 3,422 - 75 + 249 3,755 Total reserves held 20,885 -297 + 785 21,137 Required reserves (estimated) 20,327 -382 + 748 20,380 Excess reserves (estimated) 558 + 85 + 37 757 On January 15, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,6l2 million, a decrease of $30 million for the wp.ek and an increase of $1,474 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Jan. 15, Jan. 8, Jan* 16, 196^ 196^ 1963 A S S E TS Gold certificate account 13,8C9 -- - 55^4- Redemption fund for F. R. notes 1,1+20 - h + l4l Total gold certificate reserves 15 229 - 5 - ^13 Cash (709) 263 + 3^ - 1C8 Discounts and advances 94 -231 + 6 Acceptances: Bought outright 71 — + 12 Held under repurchase agreement 52 - 22 + 29 U. S. Government securities: Bought outright-- Bills 3,882 - 19 +1,865 Certificates 7,066 ~- -6,ll6 Notes 17,729 " +7,027 Bonds k 6U5 -- + 5 Co } Total bought outright 33,322 - 19 +3,284 Held under repurchase agreement 97 -55 + 97 Total U. S. Government securities 33;^19 - 7^ +3,381 Total loans and securities 33,636 -327 +3,423 Cash items in process of collection (l,l82) 6,853 +626 + 291 Bank premises 104 Other assets lilj.7 +21 +1 TOTAL ASSETS (i,89l)5g7l32 +350 +3,199 L I A B I L I T I ES Federal Reserve notes (709)31,699 -257 +2,205 Deposits: Member bank reserves yj 382 + 705 U. S. Treasurer--general account 995 + 216 Foreign 155 68 Other 219 + 8c8 Total deposits 18,752 Deferred availability cash items (l,182) k,k67 + 80 Other liabilities and accrued dividends 81 + Ik TOTAL LIABILITIES (1,891)5^,999 +326 +3.,1 07 C A P I T AL A C C O U N TS Capital paid in I4-09 + 2 + 29 Surplus 99O + 56 Other capital accounts [^ 22 + + 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( 891)56, 532 +35C> 1; ±1 ,1QQ 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) 29.8<fo -.1$ - 2.7$ Contingent liability on acceptances purchased for foreign correspondents 92 + k +8 * 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, JANUARY 157 19^4 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 Vithin 15 days 60 62 677 -1^7 16 days to 90 days 3^ 6l 6,128 + 9^ 91 days to 1 year -- -- 15,590 - 21 Over 1 year to 5 years -- „ 8,669 Over 5 years to 10 years „ „ 2*136 Over 10 years „ „ ' 19 2 Total 95- X23 33,^19 ^1% Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b> STATEMENT OF-CONDITION OF EACH FEDEPAL RESERVE BANK ON JAKUARY 15, 1964 Nev Phila Cleve Rich St. Minne Kansas San 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 13,809 729 3,959 669 983 924 761 2,089 524 267 569 519 1,816 Redemption fund for F. R. notes 1,420 80 332 79 126 113 86 26l 60 29 55 45 154 Total gold certificate reserves 15,229 809 4,291 748 1,109 1,037 847 2,350 584 296 624 564 1,970 F. R. notes of other Banks 709 60 147 61 47 56 61 69 26 45 17 37 83 Other cash 263 15 52 13 16 16 30 35 15 9 10 10 42 .Discounts and advances i 94 3 13 3 4 13 5 29 2 2 5 9 6 ^Acceptances: Bought outright ; 71 — 71 -- — -- -- -- -- -- -- -- «f — Held.under repurchase agreement ! 52 52 -- 0- S. Government securities: Bought outright-- Bills 3,882 194 960 207 326 265 217 656 155 79 161 155 507 Certificates ! 7,066 | 353 1,747 377 592 483 395 1,195 282 145 292 282 923 Notes 117,729 1 885 4,383 947 1,485 1,212 991 2,998 708 363 734 708 2,315 Bonds ! M45 1 231 1,149 248 389 318 260 786 186 95 192 185 6c6 Total 33,322 : 1,663 8,239 1,779 2,792 2,278 1,863 5,635 1,331 682 1,379 1,330 4,351 Held under repurchase agreement Q7 — — 07 — — _ — -. — — — mm — Total U. S. Government securities 133,419 i 1,663 8,336 1,779 2,792 2,278 1,863 5,635 1,331 682 1,379 1,330 4,351 Total loans and securities 33,636 I 1,666 8,472 1,782 2,796 2,291 1,868 5,664 1,333 684 1,384 1,339 4,357 Cash items in process of collection 8,035 552 1,462 397 596 6c4 621 1,426 365 248 411 381 972 Bank premises 104 3 8 3 6 5 17 23 6 4 7 12 1C Other assets 447 23 11^ 24 ^fi 28 25 70 18 Q 1Q 21 SQ. TOTAL ASSETS 58,423 3,128 14,545 3,028 4,6c8 4,037 3,469 9,637 2,347 1,295 2,472 2,364 7,495 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT XF CONDITION OF EACH FEDERAL RESERVE'-BANK ON JANUARY: ±?,-19Gf Nev Phila Cleve Rich St. Minne- Kansas I San Total Boston York delphia land mond Atlanta Chicago Louis apolis City i Dallas Fran cisco (in millions of dollars) L I A B I L I T I ES Federal Reserve notes 32,408 1,904 7,832 1,892 2,778 2,659 1,878 5,826 1,322 589 1,242 964 3,522 tepcsits: Member bank reserves 17,382 688 5,035 703 1,172 757 952 2,510 647 424 608 940 2,746 U. S. Treasurer-general account 996 47 253 39 42 74 44 93 42 42 38 47 235 Foreign 155 7 1A5 8 14 8 8 21 5 3 7 9 20 Other 219 145 1 1 5_ 2 8 l * 2 1 53. Total deposits 18,752 742 5,^78 751 1,229 844 i,oc6 2,632 695 469 855 997 3,054 Deferred availability cash items 5,649 405 605 295 457 ^53 495 9^7 274 200 304 312 702 Other liabilities and accrued dividends 81 22 4 6 14 .1 3. 10 56,890 3,055 14,137 2,942 4,470 3,961 3,383 9,4i9 2,294 1,260 2,405 2,276 7,286 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 499 24 132 28 45 25 28 71 17 12 22 29 66 Surplus 990 47 264 55 90 49 56 i4o 3^ 23 43 57 132 Other capital accounts 44 2 12 _3_ 3 2 2 7 2 2 2 7_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 56,423. 3,128 14,545 3,028 4,606 4,037 3,469 9,637 2,347 1,295 2,472 2,^64 7,493 Contingent liability on accept ances purchased for foreign corre spondents 92 2/25 5 13 12 FEDERAL RESERVE AGENT'S ACCOUNTS -~m~ F. R. notes outstanding r 34,179 r1,995 8,265 1,966 " 2,980 " 2,774"" 1,992 "T ^W " 1,39^ 1,285 1,047 3,730 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 7 __ -- 2 — -- — -- l -- 4 -- --• U. S. Government securities 28,394 1,530 . 6,700 i,6co 2,550 2,227 1,700 5,177 1,2.10 500 1,100 9CC 3,200 Total collateral 35,l4l 2,013 8,400 2,027 3,050 2,812 2, 065 6,277 l,46i 620 1,376 1,090 3,950 1/ After deducting $110 million participations of other Federal Reserve Banks, Less than $500,COC. 2/ After deducting $ 67 million participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis