H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•M3£5&-. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and '•f^LRE^V Condition Statement of F.R. Banks For immediate^ release H.^.l February 27/ 19^ The average of daily figures of total member bank reserves held during the week ended February 26 decreased $139 million to $20,03^ million. Estimated currency and coin of member banks decreased $19 million and their reserve balances at the Federal Reserve Banks decreased $120 million. Estimated required^reserves decreased $38 million; and estimated excess reserves decreased $101 million to $323 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $123 million, compared with the revised figure of $133 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $137 million in holdings of U. S. Government secu rities and $91 million in member bank borrowings, and an increase of $91 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $161 million in currency in circulation and $76 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $242 million. As of Wednesday, February 26, holdings of U. S. Government securities bought outright were $212 million higher than a week earlier and member bank borrowings were $501 million higher. Averages of daily figures Member bank reserves. Week ended Change from week ended Wednesday^ Reserve Bank credit, Feb; 26, Feb. 19, Feb. 27, Feb. 26, 196k and related items 196k 1964 1963 t (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 32,750 -112 +2,389 32,932 - kk Held under repurchase agreement - 25 62 Ac ceptances--bought outright 61 - 3 Discounts and advances-- Member bank borrowings 200 - 91 + 71 574 Other -- __ - 30 1 -- Float 1,835 - 11 + 239 1,375 Total Reserve Bank credit 34,846 -242 +2,627 34,943 Gold stock 15,462 -- - 451 15,463 Treasury currency outstanding 5,588 + 5 + 18 5,586 55,896 -238 +2,195 55,992 36,308 -161 +2,080 36,320 Currency in circulation Treasury cash holdings 439 + 19 - 15 458 Treasury deposits with F.R. Banks 903 - 76 + 102 825 147 + 23 - 83 135 Foreign deposits with F. R. Banks Other deposits with F. R. Banks 197 - 12 - 117 196 Other F. R. accounts (net) 1,051 + 91 - 74 1,043 39,044 -118 +1,892 38,977 Member bank reserves: 16,852 -120 + 302 17,015 With Federal Reserve Banks 3,182 - 19 + 255 3,536 Currency and coin (estimated) Total reserves held 20,034 -139 + 557 20,55-1 Required reserves (estimated) 19,711 - 38 + 701 19,744 Excess reserves (estimated) 323 -101 - 144 1 807 On February 26, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account vere $8,796 million, an increase of $12 million for the week and an increase of $l,68l 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) CONSOLIDATE! STATEMENT OF CONDITION OF THE TWELVE FEDERAL KSSERV'E BAMS (in millions of dollars) Change since Feb. 26, Feb. 19, Feb. 27, 1964 1963 A S S E TS 19 Gold certificate account 13,75^- 578 Redemption fund for F. R. notes l,4ll - k + 148 Total gold certificate reserves 15,165 7"X r~-"T?3o Cash (697) 289 - 4 - 119 Discounts and advances 57^ +501 + 450 + 5 Acceptances--"bought outright 62 U. S. Government securities: Bought outright-- Bills 3,491 +212 + 1,163 Certificates 3,265 -10,315 Notes 21,621 +11,332 Bonds 4,555 + 391 Total bought outright 32,932 +212 + 2,571 Held under repurchase agreement , ZZ. II Jl___^2,i Total U. S. Government securities 32,932 +212 + 2,43+ Total loans and securities 33,568 +713 + 2 cc9 ; Cash items in process of collection (1*3$3) 5,301 -9^5 Bank premises 102 Other assets $26 + 35 TOTAL ASSETS (1,890) 5^,951 'I^5 L I A B I L I T I ES Federal Reserve notes (697) 31,183 - 96 + 1,93^ Deposits: Member hank reserves 17,015 +^26 + 519 U. S. Treasurer--general account 825 -119 + 66 Foreign 1 3 5 -6 - 87 Other 196 - 3 - 11 Total deposits 18,171 +298 + 1*23 Deferred availability cash items (1,193) 3,926 -473 - ^ Other liabilities and accrued dividends 88 + 6 + 18 TOTAL LIABILITIES (l, 890) 53,368 ^255 '+ 2,361 C A P I T AL A C C O U N TS Capital paid in 507 + 2 -1- 33 Surplus 990 ~- + ; 56 Other capital accounts 86 _+_l8 + ? TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,890) 5^,951 -2K5 +' 2,^59 Ratio of gold certificate reserves to deposit and P. R. note liabilities combined (com puted from figures as shown on the fol lowing pages—not consolidated) 30-3$ -.1$ - 2-5$ Contingent liability en acceptances purchased for foreign correspondents 9 2 -1 +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, FEBRUARY 26, 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 Ac<^ eptances Holdings during week Within 15 days 572 21 603 - 50 16 days to 90 days 2 4l 8,079 +187 91 days to 1 year -- -- 9,815 + 75 Over 1 year to 5 years -- ~- 12,1^9 -- Over 5 years to 10 years -- 2,067 ... Over 10 years -- -- 219 -- Total "575 "52 32,932 +212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CXJNDTTXDH^OF E&CH FEDERAL BESERVE BAHK ON FEBRUARY 26, 1961* San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco _JL (in millions of dollars) A S S E TS § Gold certificate account I 13,754 713 3,873 742 1,019 864 685 2,261 510 293 518 494 1,782 Redemption fund for F. R. notes J l,4ll_ 79 336 76 123 116 85 258 60 28 54 44 152 Total gold certificate reserves 1 15A65 ; 792 4,209 818 1,142 980 770 2,519 570 321 572 .538 1,934 — ' ' f F. R. notes of other Banks \ | 697 51 176 57 57 38 86 58 23 42 15 4c ^4 Other cash r j 289 21 69 15 20 19 23 35 13 10 12 Q *3 Piscounts and advances frj 574 ! 4 230 2 9 39 31 130 12 * 39 16 62 Acceptances: r Bought outright l J 62 62 U. S. Government securities: [ Bought outright-- f Bills |\ 3,491 175 873 184 288 237 191 589 138 71 143 138 464 Certificates }! 3,265 164 817 172 269 222 178 551 129 66 134 129 4^4 Notes I 121,621 1,C66 5,4c8 i,l4o 1,783 1,469 1,181 3,649 852 437 885 855 2,870 Bonds |j 4.5^ , 229 ._ Ll4o.. 240 ^75 ^oq 24Q 76Q 170. 0? 187 18a 6n6 Total f[ 32,932 1,654 8,238 1,736 2,715 2,237 1,799 5,556 1,298 666 1,349 1,302 4,^80 Held under repurchase agreement 1 i Total p. S. Government securities J ^2^132 1,654 8,238 1,736 2,715 2,237 1,799 5,558 1,298 666 1,349 1.302 4.38c Total loans and securities 33,568 1,658 8,530 1,738 2,724 2,276 1,830 5,688 1,310 666 1,388 1,318 4,442 Cash items in process of collection 6,494 | 457 1,215 380 478 430 510 1,116 285 184 367 357 715 Bank premises 102 3 8 3 6 5 17 22 6 4 6 12 10 Other assets 1 526 26 136 28 46 31 29 81 20 11 23 26 69 TOTAL ASSETS 56,841 3,008 14,343 3,039 4,473 3,779 3,265 9,519 2,227 1,238 2,383 2,300 7,267 * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. h.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 26, I96I+ 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 31,880 1,873 7,730 1,855 2,731 2,608 1,822 5,7**9 1,298 581 1,23.6 953 3,1*6** Deposits: Member hank reserves 17,015 612 k,9k6 726 1,095 680- 867 2,5**0 59U 1*0U 762 916 2,873 U.S. Treasurer-general ac : count 825 1*3 I83 56 1*3 57 115 in 35 55 95 Foreign 135 6 lA7 6 11 6 7 17 k 3 5 7 16 Other 196 * l * 3 1 3 1 * 2 * Total deposits 18,171 661 5,317 781 1,162 732 932 2,675 —mo~ 1*61 8o¥~ 978"" 3,028 Deferred availability cash items 5,119 395 856 310 >+31 353 klj 851 231 158 290 27k 553 Other liabilities and accrv led dividends 88 h 21 5 7 6 5 15 h 2 h k 11 TOTAL LIABILITIES 55,258i 1 2,933 13,92^ 2,951 ^,331 3,699 3,176 9,290 2,173 1,202 2,31^ 2,209 7,056 " CAPITAL ACCOUNTS Capital paid in 507 2k 135 28 k6 29 72 17 12 22 30 67 Surplus 990 hi 26^ 55 90 k9 56 1U0 3'* 23 *K3 57 132 Other capital accounts 86 k 20 5 6 6 h 17 3 1 k h 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 56,8)a 3,008 1^,3^3 3,039 M73 3,779 3,265 9,519 2,227 1,238 2,383 2,300 7,267 Contingent liability on ace :eptances purchased for foreign corre spondent s 92 5 _ ^L 5 8 5 5 13 3 2 h 5 12 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,621 1,962 8,2'+2 1,920 2,937 2,599 -T79IS- 6,032 1,361* 605 1,261 1,030 3,651 Collateral for F. R. notes: Gold certificate account 6,607 1+23 1,650 425 500 605 3**0 1,100 250 112 272 180 75c Eligible paper 53 2 12 39 U. 5. 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,oU7 2,003 8,^00 2,027 3,050 2,775 1,990 6,277 l,Vf2 612 1,1m 1,080 3,950 1/ After deducting $ 88 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 67 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis