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*IL Banks For immediate release H.4.1 February 13, 1964 The average of daily figures of total member bank reserves held during the week ended February 12 decreased a net of $80 million to $20,l4o million. Estimated currency and coin of member banks decreased $107 million and their reserve balances at the Federal Reserve Banks increased $27 million. Estimated required reserves decreased $112 million; and estimated excess reserves increased $32 million to $400 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $33 million, compared with the revised figure of $126 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $266 million in holdings of U. S* Government securities, $125 million in member bank borrowings, and $79 million in Federal Reserve float. The principal offsetting changes were increases of $219 million in Treasury deposits with Federal Reserve Banks and $175 million in currency in circulation. Total Reserve Bank credit increased $437 million. As of Wednesday, February 12, holdings of U. S. Government securities bought outright were $113 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $24 million lower, and member bank borrowings were $12 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 12, Feb. 5, Feb. 13, Feb. 12, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 33,2l4 +235 +2,767 33,179 Held under repurchase agreement 61 + 31 - 278 59 Acceptances-- Bought outright 64 - 2 + 3 64 Held under repurchase agreement 2 + 1 + 2 2 Discounts and advances— Member bank borrowings 367 +125 + 202 381 Other 5 - 30 + 5 __ Float 1,496 + 79 + 177 1,218 Total Reserve Bank credit 35,208 +437 +2,878 34,903 Gold stock 15,498 - 15 - 430 15,463 Treasury currency outstanding 5,586 - 2 + 23 5,581 56,292 +421 +2,471 55,947 Currency in circulation 36,462 +175 +2,199 36,553 Treasury cash holdings 424 - 6 3 422 Treasury deposits with P. R. Banks 978 +219 + i4o 942 Foreign deposits with F. R. Banks 151 + 20 - 61 137 Other deposits with F. R. Banks 200 - 14 - 98 197 Other F. R. accounts (net) 961 + 1 + 2 935 39,176 +394 +2,180 39,186 Member bank reserves: With Federal Reserve Banks 17,116 + 27 + 291 16,761 Currency and coin (estimated) 3,024 -107 + 225 3,421 Total reserves held 20,140 - 80 + 516 20,182 Required reserves (estimated) 19,740 -112 + 619 19,768 Excess reserves (estimated) 4oo + 32 - 103 4l4 On February 12, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,777 million, an increase of $48 million for the week and an increase of $1,629 million from the comparable Digitized for FdRaAtSeE Ra year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT CF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Feb. 12, Feb. 5, Feb. 13, 1961+ ...19.6JL__ 19^3 A S S E TS Gold certificate account 13,769 - 50 613 Redemption fund for P. R. notes 1,407 - 4 + 136 Total gold certificate reserves 15,176 ^5? Cash (680) 33020 2 --8 8 - 118 Discounts and advances 33881l -- 4 422 + 217 Acceptances: 6k _~ Bought outright 64 — + 5 2 - l Held under repurchase agreement 2 -1 '2 U. S. Government securities: Bought outright-- 3,739 -113 Bills 3,739 -113 +1,339 7,066 Certificates 7,066 -- -6,lib Notes 1177,,772299 -- +7,p42 Bonds 4k,,66k455 _zz + **H 7El3 ^2/^B Total bought outright 33,179 - 24 254 Held under repurchase agreement 59 Total U. S. Government securities 33,238 -1-31377 +2,^9g 33,238 Total loans and securities 3333,,668855 --118800 +2,7l6 Cash items in process of collection (1,239) 5,55,8508 0 -1--118-1O8 O + 339 Bank premises 1 1 0 0 2 2 -- 11 2 Other assets 6 6 3 3 2 2 ++ 2222 + 121 TOTAL ASSETS (1,919) 55,477 TTa +2,579 L I AB I L . 1 T I ES Federal Reserve notel ~ (680) 31,409 +1^7 +2,059 Deposits: Member bank reserves 16,761 -718 + 324 U. S. Treasurer--general account 942 +307 + l^;2 Foreign 137 — - 69 Other (301) 337 ±131 ± 2& Total deposits (301) 18,177 -280 + 42J Deferred availability cash items (938) 4,222 +100 - 52 Other liabilities and accrued dividends 83 + 3. + 12. TOTAL LIABILITIES (1,919) 53,891 -30 +2,kk% C A P I T AL A C C O U N TS Capital paid in - - - o4 -- + 31 5 Surplus 990 — + 56 Other capital accounts 92 - 11 + 50. TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,919) 55,^77 - 4l ±2,529- 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) 30.0$ -.2$ - 2.8$ Contingent liability on acceptances purchased for foreign correspondents 93 * 1 +9 * 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 /FEBRUARY 12, 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 380 13 4,509 - 25 16 days to 90 days 1 53 1,996 -107 91 days to 1 year __ -- 15,709 - 5 Over 1 year to 5 years --C -- 8,669 -- Over 5 years to 10 year:ss -- 2,136 -- Over 10 years -_ -- 219 -- Total 38T 56" 33,238 -137 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY'12, 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 13,769 736 3,410 713 1,030 934 856 2,186 525 271 613 639 1,856 Redemption fund for F. R. notes 1,407 80 333 77 124 110 85 259 60 29 54 44 152 Total gold certificate reserves 15,176 816 3,743 790 1,154 1,044 94l 2,445 585 300 667 683 2,008 F. R. notes of other Banks 680 58 165 53 52 41 74 57 20 42 16 45 57 Other cash 302 19 66 17 20 17 28 40 16 11 13 8 47 Discounts and advances 381 3 117 2 54 15 19 149 6 2 8 6 •* Acceptances: Bought outright ! 64 64 — — — — Held under repurchase agreement 2 — 2 — — — — — — U. S. Government securities: Bought outright-- Bills i 3,739 190 946 199 308 258 201 621 146 75 154 147 494 Certificates 7,066 360 1,788 375 581 489 381 1,173 276 142 291 277 933 Notes 17,729 904 4,486 94l 1,458 1,226 955 2,945 692 357 729 696 2,340 Bonds 4,645 237 1,176 247 382 321 250 772 181 93 191 182 613 Total 33,179" 1759I 87396 1,762" 2,729 2,294 1,787 5,511 1,295 667 1,365 1,302 4,380 Held under repurchase agreement 59 59 Total U. S. Government securities 33,238 1,691 8,455 1,762 2,729 2,294 1,787 5,511 1,295 667 1,365 1,302 4,380 Total loans and securities 33,685 1,694 8,638 1,764 2,783 2,309 1,806 5,660 1,301 669 1,373 1,302 4,386 Cash items in process of collection 6,819 612 1,166 373 426 574 603 965 380 225 371 329 795 Bank premises 102 3 8 3 6 5 17 22 6 4 6 12 10 Other assets 632 32 164 34 54 38 34 9& 24 28 29 84 13 TOTAL ASSETS 57,396 3,234 13,950 3,034 4,495 4,028 3,503 9,287 2,332 1,264 2,474 2,4o8 7,387 * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4-.l(e)' ^AEMSMVQF CONDITION OF.EACH FEDERAL RESERVE BANK ON FEBRUARY 12, 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 32,089 1,885 7,774 1,869 2,748 2,617 1,848 5,792 1,306 582 1,227 956 3,485 Deposits: Member "bank reserves 16,761 666 4,678 712 1,204 707 906 2,427 595 403 764 968 2,731 U.S. Treasurer-general a<: count 942 62 103 19 15 121 93 67 54 53 77 83 195 Foreign 137 6 1/42 7 12 7 7 18 4 3 6 7 18 Other 638 82 128 6 1 73 82 2 50 20 44 35 115 Total deposits 18,478 816 4,951 744 1,232 9C8 1,088 2,514 703 479 891 1,093 3,059 Deferred availability cash items 5,160 456 774 327 363 420 476 735 266 165 284 267 627 Other liabilities and accru ed dividends 83 4 20 4 7 6 4 14 4 2 4 3 11 TOTAL LIABILITIES 55,810 3,l6l 13,519 2,944 4,350 3,951 3,416 9,055 2,279 1,228 2,406 2,319 7,102 CAPITAL ACCOUNTS Capital paid in 504 24 135 28 45 25 28 72 17 12 22 29 67 Surplus 990 47 264 55 90 49 56 140 34 23 43 57 132 Other capital accounts 92 2 32 7 10 3 3 20 2 1 3 3 6 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _5L3££ _3*23i__ 13^10_ ._.3,_034_™ iL.1t95_„ 4,028 __3,503_ 9,287 2,332 1,264 2,474 2,4c8 7,387 Contingent liability on ac<s eptances purchased for fore:L gn _ correspondents 93 4 2/25 5 9 5 5 13 3 2 4 5 13 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding '33,774 " 1,978 8,251 1,935 2,952 2,719 1,949 6,056 1,370 608 1,268 1,032 3,656" 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 16 2 6 8 U. S. Government securities 28,367 1,580 6,750 1,600 2,550 2,150 1,650 5,177 1,210 500 1,100 900 3, 200 Total collateral 35,033 2,013 8,400 2,027 3,050 2,755 2,015 6,277 1,466 620 1,380 1,080 3,950 l/ After deducting $ 95 million participations of other Federal Reserve Banks, 2/ After deducting $ 68 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis