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 ••f-WRU^N-- Condition Statement of F.R. Banks For immediate release H.4.1 February 6, 1964 The average of daily figures of total member bank reserves held during the week ended February 5 decreased a net of $4 million to $20,198 million. Estimated currency and coin of member banks decreased $253 million and their reserve balances at the Federal Reserve Banks increased $249 million. Estimated required reserves increased $12 &illioh; and estimated excess reserves decreased $16 million to $359 million* Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $117 million, compared with the revised figure of $198 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $2rf0 million in holdings of U. S. Government secu rities and $65 million in member bank borrowings, and decreases of $110 million in Treasury deposits with Federal Reserve Banks, $8l million in "other" F.R. accounts (net), and $77 million in currency in circulation. The principal off setting change was a decrease of $34j million in Federal Reserve float. Total Reserve Bank credit decreased $9 million. As of Wednesday, February 5, holdings of U. S. Government securities bought outright were $571 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $83 million higher, and member bank borrowings were $92 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 5, Jan. 29, Feb. 6, Feb. 5, and related items 1964 1964 1963 1964 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 32,979 +240 +2,744 33,292 Held under repurchase agreement 30 + 30 - 275 83 Acceptances-- Bought outright 66 - 1 + 5 64 Held under repurchase agreement 1 + 1 9 3 Discounts and advances- Member bank borrowings 242 + 65 + 19 393 Other 35 + 3 + 33 30 Float 1M1 -3^7 + 59 1,278 Total Reserve Bank credit 34,771 - 9 +2,577 35,143 Gold stock 15,513 + 1 - 415 15,513 Treasury currency outstanding 5,588 + 6 + 19 5,592 55,871 - 2 +2,180 56,248 Currency in circulation 36,287 - 77 +2,180 36,387 Treasury cash holdings 430 + 20 + 9 44l Treasury deposits with F.R. Banks 759 -110 - 24 635 Foreign deposits with F.R. Banks 131 - 10 - 75 137 Other deposits with F.R. Banks 2l4 + 6 - 83 2C6 Other F.R. accounts (net) 960 - 81 - 11 964 38,782 -252 t:1,998 38,770 Member bank reserves: With Federal Reserve Banks 17,089 +249 + 182 17,^79 Currency and coin (estimated) 3,109 -253 + 332 3,252 Total reserves held 20,198 - 4 + 5lk 20,731 Required reserves (estimated) 19,839 + 12 + 612 19,853 Excess reserves (estimated) 359 - 16 - 98 878 On February 5> 1964, U* S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,729 million, a decrease of $66 million for the week and an increase of $1,676 million from the comparable Digitized ford FaRtAeSE Ra year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(a) COiil'SOLiL«!i'i-i) STATJMMT OF C0i\i)I1T0lY OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Feb. 5, Jan. 29, Feb. 6, 1964 1964 1963 A S S E TS Gold certificate account 13,819 — - 563 Redemption fund for E-' §. £C$§s 1,411 - 1 +- 1"36 W Total gold certify fifhfce reserves 15,230 - 1 Cash (Tff) 11© s* - 123 Discounts and advanceg fcas + 90 + 172 Acceptances: Bought outright 64 - 2 + 5 Held under repurchase agreement- 3 + 3 7 U. S. Government securities: Bought outright-- Bills 3,852 +571 +1>19 Certificates 7,066 -- -6,116 Notes 17,729 -- +7,042 Bonds 4,645 — + 481 Total "bought outright 33,292 +571 +2,826" Held under repurchase agreement 83 + 83 - 411 Total U. S. Government securities 33,375 +6J4 +2,415 Total loans and securities 33,865 +7^5 +2,585 Cash items in process of collection (1,103) 5,400 + 97 + 595 Bank premises 103 - 1 1 Other assets 610 + 17 + 128 TOTAL ASSETS (1,880) 55,518 tM +2,757 L I A B I L I T I ES Federal Reserve notes (777) 31,262 + 80 +2,062 Deposits: Member hank reserves 17,^79 +783 + 473 U. S. Treasurer—general account 635 -212 - 201 Foreign 137 + 7 - 59 Other 206 + 9 - 91 Total deposits 18^57 +587 + 122 Deferred availability cash items (1,103) 4,122 +166 + 462 Other liabilities and accrued dividends 80 - 1 + 7 TOTAL LIABILITIES (1,880) 53,921 +832 +2,653 C A P I T AL A C C O U N TS Capital paid in 504 + 3 + 31 Surplus 990 — + 56 Other capital accounts 103 + 22 + 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,880) 55,518 +857 +2,757 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages—not consolidated) 30.2$ • 3$ - 2.; Contingent liability on acceptances purchased for foreign correspondents 92 — + 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 LOAHS AND SECURITIES, FEBRUARY 5, 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 442211 1155 44,,553344 +4,203 16 days to 90 days 22 5522 22,,110033 -3,84l 91 days to 1 year .-_- ---. 1155,,771144 + 292 Over 1 year to 5 years _.- -- 8,669 Over 5 years to 10 year•ss — 2,136 Over 10 years w•- •».. 219 Total 6T 33,375 T54" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4-.ifb) STATEMENT OF CONDITION CF EACH FEIERAL RESERVE BANK ON FEBRUARY 5, 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Tallas 1 Fran York delphia land mond Louis apolis City 1 cisco (In millions; of dollars) A S S E TS Gold certificate account 13,819 773 3,^15 674 1,121 989 747 2,31s 537 255 611 537 1,842 Redemption fund for F. R. notes 1,411 80 33^ 77 124 110 86 260 60 29 5h 44 153 Total gold certificate reserves 15,230 853 3,749 751 1,245 1,099 833 2,578 597 284 bb<j 581 1,995 F. R. notes of other Banks 777 71 180 70 63 44 78 69 23 46 16 ^7 70 Other cash 310 20 67 17 22 17 30 41 17 11 13 8 hi Elscounts and advances 423 7 192 6 19 11 24 118 7 6 12 12 9 Acceptances: Bought outright 64 __ 64 -- --. -- -- -- — -- -- -- -- Held under repurchase agreement 3 -- 3 -- -- -- — -.- -- — U. 3. Government securities: Bought outright— Bills 3,852 193 995 2C6 316 261 205 643 151 76 155 151 500 Certificates 1 7,066 355 1,825 378 580 478 376 1,180 278 139 284 276 917 Motes 17,729 &9t 4,580 949 1,^55 1,199 9^3 2,962 697 3^9 713 693 2,299 Bonds 1 4,645 23? 1,200 249 382 314 247 776 182 92 187 181 602 Total 33,292 1,671 8,600 1,782 2,733 2,252 1,771 5,561 1,308 656 1,339 1,301 ^,318 Held under repurchase agreement 83 „ 83 -- -- -- -- __ -- -- -- — -- Total U. G. Government securities 33,375 1,671 8,683 1,782 2,733 2,252 1,771 5,561 1,308 656 1,339 1,301 >,318 Total loans and securities 33,865 1,678 8,942 1,788 2,752 2,263 1,795 5,679 1,315 662 1,351 1,313 ^,327 Cash items in process of collection 6,503 521 1,261 4c6 472 46i 536 991 292 202 324 322 715 Bank premises 103 3 8 3 7 5 17 22 6 4 6 12 IC Cther assets 610 30 159 33 53 37 33 9h 23 13 27 28 6c TOTAL ASSETS 57,398 3,176 14,366 3,068 4,6l4 3,926 3,322 9,474 2,273 1,222 2,402 2,3H 7,C44 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4-1(c) STATEMENT.OF CONDITION OF EACH FEIERAL I<ESBW£ BANK OK'FEBRUARY 5, 19^4 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Lcuis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 32,039 1,882 7,757 1,868 2,743 2,626 1,844 5,769 1,304 582 1,229 954 3,481 Deposits: Member bank reserves 17,479 72U 5,007 735 1,255 761 906 2,542 626 404 791 946 2,782 U.S. Treasurer-general account 635 4o 96 23 32 54 32 88 46 30 53 53 88 Foreign 137 6 i/53 6 10 ( 6 16 4 3 5 7 15 Other 206 136 6 1 6 12 l •* 3 1 49 Total deposits 18,457 770 5,292 770 1,298 827 945 2,648 677 437 852 1,007 2,934 referred availability cash items 5,225 444 870 337 387 440 815 234 164 249 257 6c6 Other liabilities and accrued dividends 80 4 21 4 8 5 4 13 3 2 3 3 10 TOTAL LIABILITIES 55,801 3,100 13,9^0 2,979 4,471 3,845 3,233 9,245 2,218 1,185 2,333 2,221 7,031 CAPITAL ACCOUNTS Capital paid in 504 24 135 28 45 25 28 72 17 12 22 29 67 Surplus 990 hi 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 103 | 5 27 6 8 7 5 17 4 2 4 4 14 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 57,398 3,176 lh,3€6 3_p68__ _J^5l4__ 3i9§6__ 3,322 9,474 2,273 1,222 2,402 2,3H 7,244 Contingent liability en accept ances purchased for foreign corre spondent s i 92 5 ._.._2/25 5 8 5 5 13 ___...__?_ 2 4 5 12 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,844 1,979 8,275 l,94l 2,953 2,725 1,956 6,065 1,372 610 1,265 1,029 3,674 Collateral for F. R. notes: Gold certificate account 6,650 433 1,650 425 500 605 365 1,100 250 120 272 180 750 Eligible paper 21 4 6 11 U. S. Government securities 1,580 6,750 l,6co 2,550 2,150 1,700 5,177 1,210 500 1,100 900 3,200 28,417 Total collateral 35,088 2,013 8,400 2,029 3,050 2,755 2,065 6,277 1,466 620 1,383 1,080 3,950 1/ After deducting $ 8^ million participations of other Federal Reserve Banks, * Less than $500,COO, 2/ After deducting $ 67 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis