H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftcting link Itservts fid Condition Stattmtnt of F.I. links For immediate release H.4.1 March 12, 1964 The average of daily figures of total member bank reserves held during the week ended March 11 decreased a net of $189 million to $19,996 million. Estimated currency and coin of member banks decreased $196 million and their reserve balances at the Federal Resex*ve Banks increased $7 million. Estimated required reserves decreased $55 million; and estimated excess reserves decreased $134 million to $359 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $1C6 million, compared with the revised figure of $131 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $192 million in U. S. Government securities bought outright and $80 million in Federal Reserve float, and a decrease of $48 million in Treasury deposits with Federal Reserve Banks. The principal off setting changes were a decrease of $109 million in member bank borrowings and an increase of $193 million in currency in circulation. Total Reserve Bank credit increased $l8l million. As of Wednesday, March 11, holdings of U. S* Government securities bought outright were $18 million lower than a week earlier and member bank borrowings were $359 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 11, Mar. 4, Mar. 13, Mar. 11, and related items 1964 1964 1963 1964 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 33 ,437 +192 +2,909 33,434 Held under repurchase agreement -- -- - 123 -- Acceptances-- Bought outright 64 + 1 + 8 62 Held under repurchase agreement 22 + 16 + 22 23 Discounts and advances-- Member bank borrowings 253 -109 + 116 436 Other -- -- - 31 -- Float 1,609 + 80 + 82 1,317 Total Reserve Bank credit 35,385 +181 +2,983 35,272 Gold stock 15,463 + 1 - klk 15,463 Treasury currency outstanding 5,560 - 7 + 4 5,574 56,427 +173 +2,572 56,309 Currency in circulation 36,538 +193 +2,o84 36,679 Treasury cash holdings 452 + 2 + 2 454 Treasury deposits with F. R. Banks 94l - 48 + 158 869 Foreign deposits with F. R. Banks 14-9 - 1 - 42 173 Other deposits with F. R. Banks 207 -- + 26 197 Other F. R. accounts (net) 1,062 + 22 - 52 1,089 39,348 +I67 +2,175 39,461 Member bank reserves: With Federal Reserve Banks 17,079 + 7 + 397 16,848 Currency and coin (estimated) 2,917 -196 + 177 3,281 Total reserves held 19,996 -I89 + 574 20,129 Required reserves (estimated) 19,637 - 55 + 704 19,669 Excess reserves (estimated) 359 -134 - 130 460 On March 11, V)6k, U. S- Government securities held in custody by the Federal Reserve Banks for foreign account were $8,525 million, a decrease of s>230 million for the week and an increase of $1,319 million from the comparable Digitized for FRASER date a year ago* http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HE.4. 1(a) CONSOLIDATE!) STATEMENT Off CONDITION OF THE TWELVE FEDERAL KESEKVE BANKS (In millions of dollars) Change since Mar. llj Mar. 4, Mar. 13, 1964 1964 1963 A S S E TS Gold certificate account 13,774 -- - 553 Redemption fund for F. R. notes 1,403 - 4 + 139 Total ffold certificate reserves 15,177 T~H - 414 * Cash (55*0 24l - 26 - 158 Discounts and advances h36 +359 + 337 Acceptancesi 62 -- + 10 Bought outright Held under repurchase agreement 23 + 8 + 23 U. S. Government securities: Bought outright— Bills 3,993 - 18 + 1,563 Certificates 3,265 -- -10,315 Notes 21,621 -- +11,302 Bonds 4,555 -- + 351 Total bought outright 33,^34 ~H + 2,901 Eeld under repurchase agreement — 31 rjj Total U> S. Government securities 33,43^ + 2,870 Total loans and securities 33,955 +349 + 3,240 Cash items in process of collection (1,131) 5,183 -254 - 310 Bank premises 102 - 1 2 Other assets 526 - 36 + 170 TOTAL ASSETS (1,685) 55,184 + J3 + 2,526 L I A B I L I T I ES Federal Reserve notes (554) 31,514 +205 + 2,013 Deposits: Member "bank reserves 16,848 - 26 + 298 U S. Treasurer--general account 869 - 78 + 132 Foreign 173 + 37 11 Other (**) 197 - 6 + 13 Total deposits (**) 18,087 - 73 + 432 Deferred availability cash items (1,131) 3,866 -124 - 109 Other liabilities and accrued dividends 93 + 1 + 24 TOTAL LIABILITIES (1,685) 537563 + 9 + 2,360 C A P I T AL A C C O U N TS Capital paid in 508 -- + 33 Surplus 990 -- + 56 Other capital accounts 126 + 19 + 77 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,685) 55^184 + £8 + 2,526 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) 30-3$ -- -2.4$ Contingent liability on acceptances purchased for foreign correspondents 98 +1 + l4 * 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, MARCH 11, 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 434 43 746 -57 16 days to 90 days 2 k2 8,24l +28 91 days to 1 year 10,012 +11 Over 1 year to 5 years 12,149 -- Over 5 years to 10 years 2,067 — Over 10 years 219 -- Total IJ3S 85 33,^ ^05 ** Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4-l(b) STATEMENT W'CONDITION OF EACH FEDERAL RESERVE EANK GK KARGH'-ilr 1964 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia laWnd mond Louis apolis City cisco millions of dollars) A S S E TS Gold certificate account 13,77^ 685 3,454 758 1,055 907 765 2,190 516 299 590 582 1,973 Redemption fund for F. R. notes 1 ? ^03. L . 19 . 334 76 122 113 65_„ 258 _ 52__ 28 5JL_. 44 151 Total gold certificate reserves 15,177 764 3,788 634 1,177 1,020 850 2,448 575 327 644 626" 2,124 F. R. notes of other Banks | 55^ 38 163 39 h3 27 76 38 13 3h 12 37 3h Other cash : 24l 19 65 10 18 17 18 29 10 8 8 6 33 Discounts and advances 436 14 56 n 24 24 32 194 9 •K- 42 24 16 Acceptances: Bought outright j 62 > 62 -.- _ - — — — — — — .., ^ __ __ __ Held under repurchase agreement 23 — 23 U. S. Government securities: Bought outright-- Bills ! 3,993 2C4 1,002 212 328 273 217 676 156 80 164 157 524 Certificates ! 3,265 167 819 174 268 223 177 552 128 66 134 128 429 Notes 121,621 1,106 5,425 1,148 1,776 1,476 1,173 3,659 847 434 886 850 2,641 Bonds JblSl_ 233 . .,.,.1,1^3 242 374 311 247 771 178 91 187 179 599 Total !33,^34 1,710 6,389 1,776 2,746 2,283 1,814 5,658 1,309 671 1,371 1,314 4,393 Held under repurchase agreement -- -- -- — -- -- -- -.- __ „ -- __ Total U. S. Government securities 33,434 . 1,710 _.8^8Q_ ._ltZZ£_ __2JL6_ _J^3_Q2._ 671 .1x321- 1,314 4.393 Total loans and securities 33,955 1,724 8,530 1,777 2,770 2,307 1,846 5,852 1,318 671 1M3 1,338 4,409 Cash items in process of collection 6,314 468 1,254 385 436 46l 533 97^ 283 193 330 308 689 Bank premises 102 3 8 3 6 5 17 22 6 4 6 12 10 Other assets 526 27 135 28 46 31 29 81 20 12 23 24 70 TOTAL ASSETS 56,869 3,c43 13,9^3 3,076 4,496 3,868 3,369 9,444 2,225 1,249 2,436 2,351 7,369 * Less than $500^000. 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 MARCH 11, 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 dol] .ars) L I A B I L I T I ES Federal Reserve notes 32,068 1,882 7,765 1,858 2,74l 2,621 1,831 5,778 1,305 584 1,231 958 3,514 Deposits: Member "bank reserves 16,848 628 4,535 747 1,121 736 924 2,453 580 423 821 985 2,895 U.S. Treasurer-general ac : count 869 56 178 43 82 40 72 122 49 39 53 46 89 Foreign 173 8 1/49, 10 15 8 9 24 6 4 7 10 23 Other 197 3 129 1 1 61 3 1 1 2 # 49 Total deposits 18,087 "695 ~4~89l #01 " 1,219 790 1,006 2,1302 6lF~ —WT 1,041 3,056" D O e th f e e r r re l d i ab av il a i i t l i a e b s il a i n ty d a c c a c sh rt le it d e ms 4,997 ' 385 834 322 384 368 435 813 225 159 247 256 569 dividends 93 1 5 24 5 7 65 15 3 2 4 4 13 TOTAL LIABILITIES 55,245 2,967 13,514 2,986 4,351 3,785 3,277 9,208 2,169 1,212 2,365 2,259 7,152 CAPITAL ACCOUNTS Capital paid in 508 24 135 28 46 25 29 72 12 22 30 68 Surplus 990 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts ... 126 5.... 30 7 9 9 7 24,, 6_ - , 5 , 17 ... TOTAL LIABILITIES AND CAPITAL ACCOUNTS 56,869 3,043 13,943. 3,076 .. 4,496 3,868 3,369 9,444 2,225 1,249 2,436 2,351 7,369 Contingent liability on ace :eptances purchased for fore] Lgn correspondents 98 5 2/26 5 9 5_ 6_ 14 2 4_ 6 13, FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,649 1,968 8,241 1,917 2,929 2,702 1,928 ""6,014 1,363 610 1,267 1,028 3,682 Collateral for F. R. notes: Gold certificate account 6,607 423 1,650 425 500 605 34o 1,100 250 112 272 180 750 Eligible paper 52 1 9 42 U. S. Government securitj .es 28,392 1,580 6,750 1,600 2,550 2,170 1,650 5,177 1,210 505 1,100 900 3,20C_ Total collateral 35,051 2,003 8,4oo 2,026 3,050 2,775 1,990 6,277 1,469 617 i,4i4 1,080 3,950 1/ After deducting $ i2^million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 72miHi°n participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis