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 aid -rftiS^y Condition Statement of F.R. lanks For immediate release H.4.1 March 26, 196^ The average of daily figures of total member bank reserves held during the week ended March 25 increased $275 million to $20,489 million. Estimated currency and coin of member banks increased $58 million and their reserve balances at the Federal Reserve Banks increased $217 million. Estimated required reserves increased $138 million; and estimated excess reserves increased $137 million to $512 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $233 million,, compared with the revised figure of $17 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $215 million in Federal Reserve float and $106 million in U. S. Government securities bought outright and decreases of $55 million in "other" F.R. accounts (net) and $35 million in currency in cir culation. The principal offsetting changes were a decrease of $79 million in^ member bank borrowings and an increeae of $147 million in Treasury deposits with Federal Reserve Banks. Total Reserve B&B& credit increased $270 million. As of Wednesday, March 25, 1#3J8*»|P 0* S. S. Government securities bought outright were $160 million RtgtWr ttm a weak earlier, U. S. Government securities held under repurchase agre«»4mt were $112 million lower, and member bank borrowings were $898 million lower. Outrlgftt holdings of bills, notes, and bonds increased $138 million, $1 million, and $21 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended]W ednesday, Reserve Bank credit, Mar. 25, Mar. 18, Mar. 27, Mar. 25, and related items 196U 1964 1963 1964 (l^ millions of dollars) 1 Reserve Bank credit: U. S. Government securities- Bought outright--System account 33,301 +106 +2,782 1 33,355 Held under repurchase agreement 83 + 8 •- 33 28 Acceptances- Bought outright 63 + 1 + 12 62 Held under repurchase agreement 51 + 18 + 51 58 Discounts and advances- Member bank borrowings 279 - 79 + 38 55 Other __ __ - 30 -- Float 1,973 +215 + 375 1,497 Total Reserve Bank credit 35,750 +270 +3,195 i 35,055 Gold stock 15,462 - 1 - 4l6 15,463 Treasury currency outstanding 5,579 + 3 + 3 ! 1 5,579 56,791 +272 +2,782 I 56,097 Currency in circulation 36,657 - 35 +2,242 36,715 Treasury cash holdings 431 - 13 20 415 Treasury deposits with F.R. Banks i,o44 +147 + 30 1,101 Foreign deposits with F.R. Banks 159 + 15 27 143 Other deposits with F.R. Banks 196 - 4 + 22 170 Other F.R. accounts (net) 950 - 55 - 128 942 39,437 + 55 +2,118 39,486 Member bank reserves: With Federal Reserve Banks 17,35^ +217 + 664 16,611 Currency and coin (estimated) 3,135 + 58 + 227 3,480 Total reserves held 20,489 +275 + 891 20,091 Required reserves (estimated) 19,977 +138 + 842 19,945 Excess reserves (estimated) 512 +137 + 49 1 146 On March 25, V)fk> U. S. Government securities held in custody by the Federal Reserve Banks for foxel^ account were $8,33^ million, a decrease of $213 million for the we^k arid an Inor^ase of $993 million from the comparable date Digitized afo r yFReAaSrE Ra go. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF THS TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Mar- 25, Mar. 18, Mar. 27, lQ6k 196k 1963 A S S E TS ^^ — i — - —- <* Gold certificate"account 13,787 + 13 - 551 Redemption fund for F. R. notes ,A*fr°3. ± 3 + 135 Total gold certificate^reserves ^ 15,190 + 1^ - 5lo. Cash (539) 245 -- - 1^9 Discounts and advances 55 898 * 1^9 Acceptances: Bought outright 62 -- '• 13 Held under repurchase agreement 58 21 58 U. S. Government securities: Bought outright-- Bills 3,892 t- 138 +..l,64o Certificates 3,265 ~ -10,315 Notes 21,622 + 1 +11,212 Bonds 4,576 + 21 + 305 Total bought outright 33,355 + IS© + 2,842 Held under repurchase agreement 28 - 112 96 Total U. S. Government securities 33,383 + 48 + 2,746 Total loans and securities 33,558 - 829 + 2,648 5,499 -1,771 + 597 Cash items in process of collection (1,242) 102 l - 1 Bank premises 643 + 52 + 258 Other assets TOTAL ASSETS (l,78l) 55,231 -2,533 +_'2,.931 L I A B I L I T I ES Federal^Reserve^notes"" ~ (539) 31,523 25 +2,099 Deposits: Member hank reserves 16,6ll - 991 + 201 U. S. Treasurer—general account 1,101 - 32 + 250 Foreign 143 + 11 - in Other (**) 170 - 47 - 19 Total deposits (**) 18,025 -1,059 + 391 Deferred availability cash items (1,242) 4,002 -1,467 + 323 Other liabilities and accrued dividends 92 1 + 23 TOTAL LIABILITIES (1,781) 537^42 -2,552 + 233£" C A P I T AL A C C O U N TS Capital paid in 508 - «. + 30 Surplus 990 -- + 56 Other capital accounts 97 + 19 4- 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,78l) 55,237 -2,533 + 2,937 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$ -6fo * 2.5$ Contingent liability on acceptances purchased for foreign correspondents 105 +5 + 22 * Figures in parentheses are the eliminations made In the consolidating process; see comparable figures on combined hasis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 2^7 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 Change s advances Acceptances Holdings during week Within 15 days 51 72~* 659 -150 16 days to 90 days k 48 8,265 +175 91 days to 1 year -- -- 10,002 + 1 Over 1 year to 5 years' -- -- 12,160 + 11 Over 5 years to 10 years .- -- 2,075 + 8 Over 10 years -- -~ 222 + 3 Total 55 120 33,383 TT5 ** Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 25, 1964 San New Phila Cleve Rich St. Minne Kansas Total ! Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (in millions of dollars) A S S E TS Gold certificate account 13,787 676 3,628 731 1,036 932 726 2,419 535 290 548 560 1,706 Redemption fund for F. R. notes 1,403 78 333 77 122 111 84 257 59 28 54 44 156 Total gold certificate reserves 15,190 754 3,96l 808 1,158 1,043 810 2,676" 594 ' 318 602 ~ ' 6o4 1,862 F- R. notes of other Banks 539 [ 31 153 3h 41 22 80 32 17 32 15 36 46 Other cash 1 245 19 64 11 17 16 16 33 10 9 7 7 36 Discounts and advances 55 2 18 2 4i- 6 7 7 1 11 - * Acceptances: Bought outright | 62 62 --- __ _. -- Held under repurchase agreement i 58 --•* « 58 -- U. S. Government securities: Bought outright-- Bills ! 3,892 20k 962 212 325 265 214 644 155 79 161 151 520 Certificates i 3,265 173. 807 178 273 223 179 541 130 66 135 126 436 Notes 121,622 1,133 5,343 1,176 1,808 1,474 1,189 3,580 658 439 893 838 2,891 Bonds ! 4,576 I ..239 1,131 249 383 312 252 758 181 93 189 177 612 Total 133,355 | i,W 8,243 1,815 2,789 2,274 1,834 5,523 1,324 677 1,378 1,292 4,459 Held under repurchase agreement 28 1 28 Total u. S. Government securities 33,383 ! 1,747 8,271 1,815 2,789 2,274 1,834 5,523 1,324 677 1,378 1,292 4,459_ Total loans and securities 33,558 1,7^9 8,409 1,817 2,789 2,280 l,84l 5,530 1,324 678 1,389 1,293 4,459 Cash items in process of collection 6,741 494 1,361 396 570 472 511 1,025 299 185 352 342 734 Bank premises 1 102 1 3 8 3 6 5 17 22 6 4 6 12 10 Other assets ! 643 33 164 34 57 38 36 99 24 14 28 30 86 TOTAL ASSETS 57,018 3,083 14,120 3,103 4,638 3,876 3,311 9,417 2,274 1,240 2,399 2,324 7,233 *Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF'CORDITTOr OF EACH FEBERAL RESERVE BANK ON MARCH 25, 1964- San New Phila Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mend Louis apolis City cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 32,062 1,879 7,783 1,873 2,740 2,613 1,828 5,782 1,300 583 1,225 956 3,500 Deposits: Member bank reserves l6,6li 619 4,6l4 748 1,172 709 916 2,377 600 413 769 906 2,768 U.S. Treasurer-general ac: count' 1,101 73 247 59 92 82 53 127 71 44 64 71 118 Foreign 6 1/44 7 12 7 8 19 5 3 6 8 18 Other \ 170 * 113 1 1 5 1 3 * 1 2 2 41 Total deposits 18,025 698 5,018 815 1,277 803 978 2,526 676 46i 84i 987 2,9*5 Deferred availability cash items 5,244 427 871 322 471 375 410 864 240 157 259 285 563 Other liabilities and accnl ed dividends 92 23 5 7 5„ 5__ 15 k_ 2_ 4 4 13 TOTAL LIABILITIES 155,^23 3,009 13,695 3,015 4,495 3,796 3,221 9,187 2,220 1,203 2,329 2,232 7,021 CAPITAL ACCOUNTS Capital paid in 508 24 135 28 46 25 29 72 17 12 22 30 68 Surplus 990 47 264 55 90 *9 56 140 34 23 43 57 132 Othey capital accounts i 97 3 26 5 7 6 5 18 3 2 5 5 12 TOTAL LIABILITIES ANT CAPITAL ACCOUNTS 57,018 -2J3A. 14,120 _l*l°3__- 1*638._ J,Jl6_ _ ^ 1 1_ _9Al7_.__ 2a27jt_ 1.240 .-2,399 - 2,324__ 7.233 Contingent liability on ace:e ptances purchased for forej-m corre spondent s 105 5 2/28 6 9 5 6 15 4 2 5 6 14 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 33,562 1,959 8,232 1,919 2,916 2,684 1,928 5,98* 1,370 605 1,268 1,022 3,675 Collateral for F. R- notes: Gold certificate account 6,557- 423 1,650 425 500 555 3*0 1,100 250 112 272 180 750 Eligible paper 13 2 11 U. S- Government securities 28,392 1,580 6,750 1,600 2,550 2,170 1,650 5,177 1.210 J05_ iJ£0_ 900 3.200 Total collateral 34,962 2,003 8,4co 2,027 3,050 2,725 1,990 6,277 i,*6o 617 1,383 1,080 3,950 1/ After deducting $99 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $77 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis