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 Reserve! iM&M Condition Statement of F.R. Banks For Immediate release H.4.1 March 19, 196^ The average of daily figures of total member "bank reserves held during the week ended March 18 increased $222 million to $20,200 million. Estimated currency and coin of member banks increased $164 million and their reserve balances at the Federal Reserve Banks increased $58 million. Estimated required reserves increased $133 million; and estimated excess reserves increased $89 million to $405 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $^7 million, compared with the revised figure of $63 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $1^9 million in Federal Reserve float, $105 million in member bank borrowings, and $75 million in U. S. Government securities held under repurchase agreement, and decreases of $57 million in "other" F. R. accounts (net) and $44 million in Treasury deposits with Federal Reserve Banks. The prin cipal offsetting changes were a decrease of $2k2 million in U. S. Government securities bought outright and an increase of $15^ million in currency in circulation. Total Reserve Bank credit increased $95 million. As of Wednesday, March 18, holdings of U. S. Government securities bought outright were $239 million lower than a week earlier, U. 3. Government securities held under repurchase agreement were $1^0 million higher, and member bank borrowings were $517 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 18, Mar. 11, Mar. 20, Mar. 18, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 33A95 -242 +2,765 33,195 Held under repurchase agreement 75 + 75 + 75 140 Acceptances- Bought outright 62 - 2 + 10 62 Held under repurchase agreement 33 + 11 + 33 37 Discounts and advances- Member bank borrowings 358 +105 + 301 953 Other - 30 Float 1,758 +149 - 114 1,801 Total Reserve Bank credit 357^0 + 95 +3,039 36,188 Gold stock 15,463 - 415 15,463 Treasury currency outstanding 5,576 - 4 1 5,578 56,519 + 92 +2,623 57,229 Currency in circulation 36,692 +154 +2,181 36,724 Treasury cash holdings 444 - 8 4 446 Treasury deposits with F.R. Banks 897 - 44 + 52 1,133 Foreign deposits with F.R. Banks 144 - 5 - 36 132 Other deposits with F.R. Banks 200 - 7 + 9 217 Other P. R. accounts (net) 1,005 - 57 - 68 975 +15 39,382 +2,134 39,627 Member bank reserves: With Federal Reserve Banks 17,137 + 58 + 489 17,602 Currency and coin (estimated) 3,c63 +164 + 209 3,380 Total reserves held 20,206 +522" T~o98 20,982 Required reserves (estimated) 19,795 +133 + 663 20,148 Excess reserves (estimated) 405 + 89 + 35 834 On March 18, 1964, U. S. Government securities held in custody by the Federal Reserve Banks foy foreign account were $8,5^7 million, &n increase of $22 million for the week and an increase of $1,259 million from the comparable Digitized fodr aFRtAeS EaR year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Mar. 18, ' Mar.1 1, Mar. 20, 1964 . 1964 1963 A S S E TS Gold certificate account 13,774 -- - 543 Redemption fund for F. R. notes 1,400 - 3 + 132 Total gold certificate reserves * 15,174 - 3 - 411 Cash (518) 245 + 4 - 154 Discounts and advances 953 + 517 + 794 Acceptances: Bought outright 62 -- + 12 Held under repurchase agreement 37 14 37 U. S. Government securities; Bought outfight-- Bills 3,754 239 + .1,461 Certificates 3,265 -- -:L O,315 Notes 21,621 -- +;L I,211 Bonds 4,555 -- + 284 Total "bought outright 33,195 - 239 +" 2,641 Held under repurchase agreement l4o + i4o + 140 Total U. S. Government securities 33,335 - 99 + 2,781 Total loans and securities 34,387 + 432 + 3,624 Cash items in process cf collection (1,U23) 7,270 +2,087 + 724 Bank premises 103 + 1 - 1 Other assets 591 + 65 + 226 TOTAL ASSETS (l,94l) 57,770 +2 ;586 + AAPC8 L I A B I L I T I ES Federal Reserve notes (518) 31,548 34 + 2,074 Deposits: Member bank reserves 17,602 + 754 + 1,097 U. S. Treasurer--general account 1,133 + 264 + 237 Foreign 132 - 4l - 39 Other 217 + 20 + , 26 Total deposits; 19,084 + 997 + 1,321 Deferred availability cash items (1,1+23) 5,469 +1, 603 + 487 Other liabilities and accrued dividends 93 — + 26 TOTAL LIABILITIES (1,9M) 56,194 +2., 634 + 3,908 C A P I T AL A C C O U N TS Capital paid in 508 _- + 31 Surplus 990 -._ + 56 Other capital accounts 78 - 48 + 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,9^1) 57,770 ±2,, 58~£ + 4,008 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) 29*7$ .6$ -3-0$ Contingent liability on acceptances purchased for foreign correspondents 100 + 2 + 17 * 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 l8 196^ 1 (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 951 54~" " 809 + 63 16 days to 90 days 2 45 8,090 -151 91 days to 1 year -- -- 10,001 - 11 Over 1 year to 5 years __ 12,149 Over 5 years to 10 years __ 2,067 Over 10 years -- -- 219 Total 953 99 33,335 99 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(b) STATEMENT OF CONEITIOH OF EACH FEDERAL RESERVE BANK ON MARCH 18, 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 13,774 ! 727 3,635 730 1,103 950 702 2,230 548 258 54l 500 1,850 Redemption fund for F. R. notes i,4oo 1 78 334 75 123 112 85_ 257 5±. 28 Jii_ 44 151 Total gold certificate reserves 15,174 805 3,969 805 1,226 1,062 787 2,437 607 286 595 544 2,001 F. R- notes of other Banks 518 34 154 35 40 23 75 34 13 31 11 34 34 Other cash 245 20 63 11 17 17 17 32 10 8 7 7 36 Discounts and advances 953 42 204 20 14 29 27 451 12 12 26 63 53 Acceptances: Bought outright 62 -~ 62 -- -- -- - -- -- -- -- -- -- Held under repurchase agreement 37 37 U. S. Government securities: Bought outright-- Bills 3,754 193 938 202 313 254 207 621 147 76 156 136 511 Certificates 1 3,265 168 815 175 272 221 180 540 128 66 136 119 445 Notes |21,fe21 ! 1,111 5,4CC 1,161 1,799 1,465 1,194 3,576 848 437 899 786 2,945 Bonds 4,555 234 1,137 245 379 309 252 753 178 92 189 166 621 Total [33,195 1,7C6 8,290 1,783 2,763 2,249 1,833 5,490 1,301 671 1,380 1,207 4,522 Held under repurchase agreement l4o __ i4o -- -- -- -- -- -- __ -- Total U. S. Government securities 33,335 1,706 8,430 1,783 2,763 2,249 1,833 5,49C 1,301 671 1,380 1,207 4,522 Total loans and securities 34,387 1,748 8,733 1,803 2,777 2,278 1,86c 5,941 1,313 663 1,406 1,270 4,575 Cash items in process of collection 8,693 ! 581 2,050 492 624 674 619 1,417 356 233 415 367 663 Bank premises 103 3 8 3 6 6 17 22 6 4 6 12 10 Other assets | 591 30 153 32 51 35 _33_ 90__ 22 12 26 27 80 TOTAL ASSETS 59,711 ; 3,221 15,130 3,181 4,74l 4,095 3,4c8 10,023 2,329 1,257 2,466 2,261 7,599 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION" OF EACE FEDERAL RESERVE BANK ON. MARCH 18, 1964 San Total Boston New Phila Cleve Rich Atlanta Chicago St. Minne Kansas Dallas Fran York delphia land mond Louis apolis City cisco Tin millions of dollars) L I A B I L I T I ES Federal Reserve notes 32,c66 j1 ,882 7,771 1,860 2,744 2,6l8 1,826 5,781 1,303 584 1,229 958 3,510 Deposits: Member "bank reserves 17,602 i 712 4,856 777 1,233 773 905 2,730 620 379 784 862 2,971 U.S. Treasurer-general aci count 1,133 53 404 36 88 52 69 125 48 68 49 39 102 Foreign 132 6 1/40 7 11 6 7 18 4 3 6 7 17 Other 217 * ' 135 1 1 7 1 13 * •* 2 3 54 Total deposits "19,685" 771 5,435 821 1,333 838 982 2,886 672" 450 841 911 3,lW Deferred availability cash items 1 6,892 490 1,480 408 515 554 506 1,115 296 185 323 298 722 Other liabilities and accn; .ed dividends 93 4 25 4 8 6 5 15 4 4 3 13 TOTAL LIABILITIES "58,135 3,I4T~1 4,711 3,093 4,600 4,oib'" 37319' —2727y ~I722T- " 2,397' 2,170 '7 389 CAPITAL ACCOUNTS Capital paid in 508 24 135 28 46 25 29 72 17 12 22 30 68 Surplus 990 47 264 55 90 49 56 l4o 34 23 4^ 57 132 Other capital accounts 78 3 20 5 ___5 5_ 4 14 3_ 1 4 4 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS j 59,711 3,221 15,130 3,181 4,741 4,095 3,4c8 10,023 2,329 1,257 2,466 2,261 7,599 Contingent liability on ac<c eptances purchased for forei gn corre spondent s 1 ico 5 2/27 6 9 J c 6 14 3 2 4 6 13 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,663 1,959 872S5 1,919 2,921 2,69b' I79SB 67006 r,TT8" 1,273 1,029 3,679 Collateral for F. R. notes: Gold certificate account 6,557 423 1,650 425 500 555 340 l, 100 250 112 272 180 750 Eligible paper 58 20 12 26 U. S. Government securities 28,392 1,580 6,750 i,6oo 2,550 2,170 1,650 5,177 1,210 505 1,100 900 3,200 Total collateral 35,007 2,003 8,4co 2,045 3,050 2,725 1,990 6,277 1,472 617 1,398 1,080 3,950 1/ After deducting $ 92 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $73 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis