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 February 20, 1964 The average of daily figures of total member bank reserves held during the week ended February 19 decreased a net of $55 million to $20,122 million- Estimated currency and coin of member banks increased $89 million and their reserve balances at the Federal Reserve Banks decreased $l44 million. Estimated required reserves decreased $7 million; and estimated excess reserves decreased $48 million to $352 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $6l million, compared with $33 million the week before, The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $388 million in holdings of U. 3. Government secu rities, $76 million in member bank borrowings, and $36 million in gold stock. The principal offsetting change was an increase of $350 million in Federal Reserve float. Total Reserve Bank credit decreased $120 million. As of Wednesday, February 19, holdings of U. S. Government securities bought outright were $459 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $59 million lower, and member bank borrowings were $3C8 million lower. Outright holdings of bills decreased $460 million. Holdings of certificates and bonds decreased $3,801 million and $90 million, respectively, and notes increased $3,892 million, reflecting the exchange of certificates and bonds maturing February 15 for $3,892 million of 3 7/8 per cent notes maturing August 13, I965. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 19, Feb. 12, I Feb. 20, Feb. 19, and related items 1961+ , 1964 1 1963 1964 . (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 32,862 -352 +2,525 32,720 Held under repurchase agreement 25 • 36 - 30 Acceptances- Bought outright 64 62 Held under repurchase agreement Discounts and advances- Member bank borrowings 291 - 76 + 134 73 Other - 5 Float 1,8*6 ±350 + 144 1,867 Total Reserve Bank credit l57cB8 -120 ?i Gold stock 15,^62 - 36 15,463 Treasury currency outstanding - 3 + 17 56,134 -158 +2,328 55, 790 Currency in circulation 36,469 t 7 +2,176 36,432 Treasury cash holdings 420 - 4 24 432 Treasury deposits with F.R. Banks 979 + 1 + 78 944 Foreign deposits with F.R. Banks 124 - 27 - 63 141 Other deposits with F.R. Banks 209 + 9 - 101 199 Other F.R. accounts (net) 960 - 1 - 126 1,052 39,162 - 14 +l,94l 39,20C Member bank reserves: With Federal Reserve Banks 16,972 -144 + 386 16,589 Currency and coin (estimated) 3,150 + 89 + 224 3,448 Total reserves held 20,122 - 55 6.10 20,037 Required reserves (estimated) 19,770 - 7 683 19,805 Excess reserves (estimated) 352 - 48 73 232 On February 19, 1964, U.S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,784 million, an increase of $7 million for the week and an increase of $1,626 million from the comparable Digitized for FdRaAtSeE Ra year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CCilfJOLID/'TED Oi' CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in milliens of dollars) Change since Feb. 19, Feb. 12, Feb. 20, 1964 1964 1963 A S S E TS Gold certificate account 13,754 15 628 Redemption fund for F. R. notes I,4l5 8 150. Total gold certificate reserves 15,169 7 478 Cash (690) 293 9 108 Discounts and advances 73 308 330 Acceptances: Bought outright 62 2 Held under repurchase agreement 2 U. S. Government securities: Bought outright-- Bills 3,279 - 460 + 918 Certificates 3,265 -3,801 -10,315 Notes 21,621 +3,892 +11,332 Bonds 4,555 - 90 + 391 Total bought outright 32,720 - 459 + 2,326 Held under repurchase agreement - 59 - 133' Total U. S. Government securities 32,720 518 + 2,193 Total loans and securities 32,855 - 830 + 1,867; Cash items in process of collection (1,326) 6,286 + 706 + 609 Bank premises 102 3 Other assets 491 - l4l + 175 TOTAL ASSETS (2,016) 55,196 - 281 + 2,062" L I A B I L I T I ES Federal Reserve notes (690) 31,279 130 + 1. Deposits: Member bank reserves 16,5 89 172 265 U. S. Treasurer--general account 944 2 36 Foreign l4i 4 49 Other 199 138 112 Total deposits 17,873 - 304 - 390 Deferred availability cash items (1,326) 4,399 + 177 + 361 Other liabilities and accrued dividends 82 1 + 15 TOTAL LIABILITIES (2,016) 53,633" - 258 + 1,966 C A P I T AL A C C O U N TS Capital paid in 505 1 + 31 Surplus 990 + 56 Other capital accounts 68 - 24 + 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ((22,,001l66) ) 55,196 - 281 + 2,062 Ratio of geld 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$ M y° 1" Contingent liability on acceptances purchased for foreign correspondents 93 p * 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 19, 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 Dis counts and Changes advance> s Acceptances Holdings during week Within 15 days 72 15 653 -3,856 16 days to 90 days 1 vr 7,892 +5,896 91 days to 1 year „ « 9,740 -5,969 Over 1 year to 5 years -- -- 12,149 +3,480 Over 5 years to 10 years „ -- 2,067 69 Over 10 years „ __ 219 Total 73 62 32,720 7-518" Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4xL(h) STATEMENT- OF CONDITION' OF EACH FEDERAL -RESERVE BAI^-OH - ^BfiUARY ~19f 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta 1C hicago Dallas Fran York delphia land mond Louis apolis City cisco 1 (In millions of doll. arsj A S S E TS Gold certificate account 13,754 746 3,587 657 929 901 733 2,462 561 257 551 529 l,84l Redemption fund for F. R. notes j 1,415 79 336 77 123 117 86 258 60 29 54 44 152 Total gold certificate reserves ! 15,169 825 3,923 734 1,052 1,018 819 2,720 621 286 605 573 1,993 F. R. notes of other Banks 690 53 179 55 54 4o 78 5k 22 42 14 44 55 Other cash 293 20 65 16 20 18 25 38 14 10 13 8 46 Discounts and advances 73 2 4 3 2 7 15 21 3 1 7 7 l Acceptances: Bought outright 62 62 U. S. Government securities: Bought outright-- Bills 3,279 166 824 177 275 224 181 540 128 66 136 130 432 Certificates 3,265 I65 821 176 274 223 180 538 128 66 135 129 430 Notes 21,621 1,092 5,433 1,169 1,810 1,477 1,193 3,563 846 437 894 857 2,850 Bonds ^,555 1 230 246 381 311 251 751 178 92 188 181 601 Total ;32,720 1,653 8,223 1,768 2,740 2,235 1,805 5,392 1,280 661 1,353 1,297 4,313 Held under repurchase agreement Total U. S. Government securities 132,720 I 1,653 8,223 1,768 2,740 2,235 1,805 5,392 1,280 661 1,353 1,297 4,313 Total loans and securities 132,855 1,655 8,289 1,771 2,742 2,242 1,820 5,413 1,283 662 1,360 1,304 4,31* Cash items in process of collection 7,612 | 584 1,491 461 591 544 587 1,255 325 218 398 352 8c6 Bank premises 1C2 3 8 3 6 5 17 22 6 4 6 12 10 Other assets 491 24 126 27 43 28 27 75 18 12 22 24 65 TOTAL ASSETS 57,212 3,164 l4,c8i 3,067 4,508 3,895 3,373 9,577 2,289 1,234 2,418 2,317 7,289 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 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) L I A B I L I T I ES Federal Reserve notes 31,969 1,879 7,7^ 1,862 2,740 2,609 1,836 5,764 1,302 584 1,222 956 3,471 Deposits: Member "bank reserves 16,589 682 4,6l4 713 1,101 709 874 2,503 603 386 778 910 2,716 U.S. Treasurer-general ac: count 944 ^7 178 35 37 64 67 116 58 46 50 74 172 Foreign 141 6 1/53 7 11 6 6 17 4 3 5 7 16 Other 199 * 137 5 * 5 2 2 * l 4 •* 43 Total deposits 17,873 735 4,982 760 1,149 784 949 2,638 665 436 837 991 2,947 Deferred availability cash items 5,725 472 921 35^ 472 418 496 936 265 176 286 277 652 Other liabilities and accrvi ed dividends 82 4 20 4 8 5 4 14 3 2 4 3 11 TOTAL LIABILITIES 55,649 3,C90 13,667 2,980 4,369 3,816 3,285 9,352 2,235 1,198 2,349 2,227 7,081 CAPITAL ACCOUNTS Capital paid in 505 : 135 28 45 25 28 72 17 12 22 30 67 Surplus 990 ; 47 264 55 90 56 140 34 23 ^3 57 132 Other capital accounts 68 ; 3 15 4 4 5 4 13 3 1 4 3 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 57,212 3,164 l4,o8l 3,067 JkSPJL 3,895 3,373 9,577 j,289_ 1,234 2,4i8 2,317 7,289 Contingent liability on ace: eptances purchased for forej corre spondent s 93 5 _2/24__ 5 9 5 5 13 3__ 2 4_ 5 13 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,6^1 1,969 8,268 1,924 2,940 2,705 1,934 6,033 1,368 607 1,259 1,025 3,649 Collateral for F. R. notes: Gold certificate account 6,642 433 1,650 425 500 605 365 1,100 250 112 272 180 750 Eligible paper 13 3 3 7 U. S. Government securities 28, 387 1,580 6,750 1,600 2,550 2,170 1,650 5,177 1,210 500 1,100 900 3,200 Total collateral 35,042 2,013 8,4oo 2,028 3,050 2,775 2,015 6,277 1,^3 612 1,379 1,080 3,950 1/ After deducting $ 88 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 69 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis