H.4.1 Factors Affecting Reserve Balances of Depository Institutions

Factors Affecting Bonk Reserves and ***f^&t Condition Statement of F.R. Banks For immediate release H.4.1 January 23> 196*J- The average of daily figures of total member bank reserves held during the week ended January 22 decreased $447 million to $20,457 million. Estimated currency and coin of member banks decreased $133 million and their reserve balances at the Federal Reserve Banks decreased $3l4 million. Estimated required reserves decreased $114 million; and estimated excess reserves decreased $333 million to $267 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $103 million compared with the revised figure of $239 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $39^ million in U. S. Government securities bought outright and $156 million held under repurchase agreement, and $197 million in member bank borrowings. The principal offsetting changes were an increase of $162 million in Federal Reserve float and a decrease of $293 million in currency in circulation. Total Reserve Bank credit decreased $608 million. As of Wednesday, January 22, holdings of U. S. Government securities bought outright were $626 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $97 million lower, and member bank borrowings were $2^4 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 22, Jan. 15, Jan. 23, Jan. 22, and related items 196k JL26L J9.63.. _126L_ (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 32,9^ .394 +3,C46 32,696 Held under repurchase agreement -156 Acceptances-- Bought outright 71 - 1 12 69 Held under repurchase agreement 45 - 22 18 27 Discounts and advances-- Member bank borrowings 164 -197 6 I 316 Other 33 + 31 1 32 Float 2,365 +162 + 58 i 1,748 Total Reserve Bank credit 35,623" ^c8 +3,159 1 34,888 Gold stock 15,513 -- - 415 1 15,513 Treasury currency outstanding 5,586 + 2 + 19 ' 5,581 56,722 -605 +2,763 : 55,982 Currency in circulation 36,690 -293 +2,329 36,568 Treasury cash holdings 4l6 + 10 - 13 4l8 Treasury deposits with F.R. Banks 1,044 + 11 + 221 1,036 Foreign deposits with F.R. Banks 148 - 19 - 77 147 Other deposits with F.R. Banks 216 + 3 - ^ 210 Other F.R. accounts (net) 1,059 - 3 + 99 1,055 39,572 -292 +2,494 39,^34 Member bank reserves: With Federal Reserve Banks 17,1^9 -314 + 268 16,547 Currency and coin (estimated) 3,308 -133 + 274 3,644 Total reserves held 20,457 -447 + 542 20,191 Required reserves (estimated) 20,190 -114 + 761 20,050 Excess reserves (estimated) 267 -333 - 219 141 On January 22, 196*1, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,64-3 million, an increase of $31 million for the week and an increase of $1,500 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 SmBMEJJ? OP COHDIITION CP THE TWELVE FBpfeftftL flBSERVE BANKS (in millions of dollars) Change since Jan. 22, Jan. 15, Jaa* 23, 1964 1964 1963 T A S S E TS ^ ' Gold certificate~account 13,8Gfc 5 -559 Redemption fund for F. R. notes 1z^? I ? * . * 15,222 7 - 417 Total gold certificate reserves Cash (T85) 286 + 23 - 132 Discounts and advances 348 + 254 - 302 Acceptances: 2 + 10 Bought outright 69 Held under repurchase agreement 27 25 + 5 U. S. Government securities: Bought outright- Bills 3,256 626 +1,394 Certificates 7,066 -6,116 Notes 17,729 +7,c47 Bonds 4,645 + 5C8 Total bought outright 32,696 - 626 +2,833 Held under repurchase agreement - 97 Total U. S. Government securities ^2,696 - 723 +2.833 Total loans and securities 33,l4o - 496 +2,546 Cash items in process of collection (1*39*0 6,2C0 653 + 630 Bank premises ic4 1 Other assets 471 + 24 + 10 TOTAL ASSETS (2,179) "55,^23 -1,109 +2,636 L I A B I L I T I ES Federal Reserve notes"* (785) 31,^01 298 +2,184 Deposits: Member bank reserves 16,547 - 835 - 209 U. S. Treasurer-- general account 1,036 + 40 + 173 Foreign 147 8 - Q5 Other (**) 210 9 - 66 Total deposits (**) 17,94^0 T~TF? Deferred availability cash items (1,394) 4,452 - 15 + 533 Other liabilities and accrued dividends 79 2 + 15 TOTAL LIABILITIES (2,179) 53,872 -1,127 +2,545 9. h I I 1 A L A C C O U N TS Capital paid in ~ ~ 499 + 29 Surplus 990 + 36 Other capital accounts 62 + 18 + 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ((22,,117799) ) 55,423 -1,109 +2,636 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) 30.4$ -6$ - '2.1$ Contingent liability on acceptances purchased for foreign correspondents 92 -- + o * 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 22. 1.964 (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 3l4 39 432 -245 16 days to 90 days 34 57 5,801 -327 91 days to 1 year -- 15,439 -151 Over 1 year to 5 years -- 8,669 Over 5 years to 10 years — 2,136 Over 10 years -- 219 Total 355 96 32,696 -723 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(V) STATEMENT OF COKDITIOH OF'EACH FSDEPJVL RESERVE BAKK OK- 3AMFARY 22, 19*64 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas 1 Fran York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS Gold certificate account 13,8c4 674 3,539 750 1,126 929 754 2,378 577 264 542 511 1,76C Redemption fund for F. R. notes 1,418 80 335 79 125 111 86 260 60 29 55 45 153 Total gold certificate reserves 15,222 754 3,874 829 1,251 "i,64o "85b~~ ,"S38~ ' 637 "293 597" 556 1,913 F. R* notes of other Banks 785 69 165 65 53 57 73 73 27 47 20 4l 95 Other cash 286 15 57 15 18 16 33 40 16 9 12 10 45 Discounts and advances 3^8 18 124 6 8 20 6 31 7 7 14 19 88 Acceptances: Bought outright 69 -- 69 __ -- -- __ -- -- -- -- -- -- Held under repurchase agreement 27 -- 27 -- -- U. S. Government securities: Bought outright-- Bills 3,256 166 815 173 272 222 182 54l 129 67 138 131 420 Certificates 7,c66 360 1,769 376 591 481 394 1,175 28o 145 300 284 911 Notes 17,729 903 4,44o 944 1,483 1,207 989 2,948 701 363 752 712 2,287 Bonds h,6k5 237 1,163 248 389 316 259 772 184 95 197 186 599 Total 32,696 1, £60 8,187 l,74l 2,735 2,226 1,324 5,436 1,294 670 1,387 1,313 4,217 Held under repurchase agreement -_ -- -- -- -- -- -- -- __ «- -- Total U. S. Government securities 32,696 _1,6_66_ JLI35___ 2i22§_. 1,824 5,436 1,294 670 1,387 1,313 4,217 Total loans and securities 33,140 1,684 8,407 1,747 2,743 2,246 1,830 5,467 1,3d 677 1,401 1,332 4,305 Cash items in process of collection 7,594 579 1,519 446 558 531 580 1,227 323 214 393 341 883 Bank premises ic4 3 8 3 6 5 17 23 6 4 7 12 10 Other assets 471 23 119 25 4i 30 27 74 18 10 21 22 61 TOTAL ASSETS 57,602 3,127 14,149 3,130 4,670 3,925 3,4cc 9,542 2,328 1,254 2,451 2,314 7,312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STHlHffiBHTK«P> eGlHDITIOK- OF EACH FEB1PAL .RESERVE BANK OK .JANUARY,221964 „ r San New Phila Cleve Rich St. Minne Kansas Total \ Boston Atlanta Chicago Lallas 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 32,186' 1,894 7,794 1,883 2,763 2,632 1,853 5,793 1,313 587 1,233 957 3,484 Deposits: Member tank reserves 16,547: 606 4,537 728 1,181 692 903 2,451 638 395 767 913 2,736 U.S. Treasurer-general si ccount 1,036 70 175 57 74 81 68 122 59 55 60 68 14? Foreign 1U7 6 1/44 8 13 7 8 20 5 3 6 8 19 Other 1 210 # 4 1 4 12 1 * 3 l 137 56 Total deposits i 17>94O 1 682 4,893 797 1,269 784 980 2,595 703 453 836 990 2,958 Deferred availability cash items 1 5,846 | 473 1,030 360 492 425 476 920 255 176 311 276 652 Other liabilities and accrti ed dividends 1 79 4 20 4 6 6 4 13 3 2 3 3 11 TOTAL LIABILITIES 56,051 \ 3,053 13,737 3,044 4,530 3,847 3,313 9,321 2,2f4 1,218 2,383 2, 226 7,105 CAPITAL ACCOUNTS Capital paid in 499 24 132 28 45 25 28 71 17 12 22 29 66 Surplus ! 990 i 47 264 55 90 49 56 140 34 23 43 57 132 Other capital accounts ! 62 3 16 3 5 4 3 10 3 1 3 2 9 TOTAL LIABILITIES ANL CAPITAL ACCOUNTS 57,602 3,127 14,149 3,130 4,670 3,925 3,4oo 9,542 2,328 1,254 2,451 2,314 7,312 Contingent liability on ac:<e ptances purchased for fore:L gn correspondents i 92 5 2/25 5 8 5 5 13 3 2 4 5 12 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 8,276 1,959 2,978 2,751 1,980 6,114- 1,387 615 1,280 l,c43 3,707 Collateral for F. R. notes: Gold certificate account 1,700 425 500 605 365 1,100 250 120 227722 180 150 Eligible paper 4 •6 13 U- S. Government securities 6,700 1,600 2,550 2,180 1,700 5,177 500 1,loo 900 3,200 1,210 Total collateral 2,013 8,4co 2,029 3,050 2,785 2,065 6,277 1,466 620 1,385 l,c6o 3,95.0. — . * * . - . • "— -,-,-•^ y After deducting $103 million participations of other Federal Reserve Banks. Less than $5C0,0CC 2/ After deducting $ 67 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis