H.4.1 Factors Affecting Reserve Balances of Depository Institutions

•viSgSfe-. F E D E R AL R E S E R VE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks 1TOT immediate "reiBase HA.l May ik, 1961*. The average of daily figures of total member bank reserves held during the week ended May 13 increased a net of $10 million to $20,287 million. Esti mated currency and coin of member banks increased $39 million and their reserve balances at the Federal Reserve Banks decreased $29 million. Estimated required reserves decreased $104 million; and estimated excess reserves increased $114 million to $403 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $89 million, compared with the revised figure of $78 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $324 million in U. S. Government securities bought outright and $103 million in member bank borrowings. The principal offsetting changes were a decrease of $100 million in U S. Government securities held under repurchase agreement and increases of $2^2 million in currency in circulation and $102 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $297 million. As of Wednesday, May 13, holdings of U. S. Government securities bought outright were $3 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $282 million lower, and member bank borrowings were $68 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 13, May 6, May 15, May 13, and related items 1964 1964 1963 1964 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 33,904 +324 +2,693 33,904 Held under repurchase agreement 83 -100 - 39 40 Acceptances-- Bought outright 51 - 2 + 6 50 Held under repurchase agreement 27 - 14 + 27 23 Discounts and advances- Member bank borrowings 3l4 +103 + 115 179 Other __ - 2 - 30 -- Float 1,640 - 13 + 169 1,527 Total Reserve Bank credit 367020 +297 +2,943 35,723 Gold stock 15,463 -- - 365 15,463 Treasury currency outstanding 5,571 - 11 + 1 5,573 57,054 +286 +2,579 56,759 Currency in circulation 37,150 +242 +2,217 37,218 Treasury cash holdings 417 - 10 + 1 424 Treasury deposits with F.R. Banks 990 +102 - 57 829 160 + 4 + 4 165 Foreign deposits with F.R. Banks Other deposits with F.R. Banks 179 - 9 10 171 Other F.R. accounts (net) 939 - 15 - 45 875 39,836 +315 +2,112 397582 Member bank reserves: With Federal Reserve Banks 17,218 - 29 + 468 17,076 Currency and coin (estimated) 3,069 + 39 + 159 3,497 Total reserves held 20,287 + 10 + 627 20,573 Required reserves (estimated) 19,884 -104 + 683 19,915 Excess reserves (estimated) 403 +114 56 656 On May 13, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7;917 million, an increase of $99 million for the week and an increase of $285 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 13, May 6, May 15, 1964 1964 1963 A S S E TS Gold certificate account 13,766 - 19 - 498 Redemption fund for F. R. notes 1,419 + 14 + 149 Total gold certificate reserves 15,185 -- 5 - 349 Cash (4*8) i64 - 16 188 Discounts and advances 179 - 68 463 Acceptances: Bought outright 50 2 + 6 Held under repurchase agreement 23 13 + 23 U. S. Government securities: Bought outright — Bills 4,391 3 + 1,719 Certificates 3,265 -- -11,173 Notes 21,622 -- +11,927 Bonds 4,626 -- + 247 Total "bought outright 33,904 - 3 + 2,720 Held under repurchase agreement 40 -282 - 65 Total U. S. Government securities 33,944 -285 + 2,655 Total loans and securities 34,196 ^368 + 2,221 Cash items in process of collection (1,255) 6,124 +543 236 Bank premises 103 __ _.. Other assets 695 + 23 + 4i7 TOTAL ASSETS (1,703) 56,467 +177 +J^865 L I A B I L I T I ES Federal Reserve notes (kk6) 31,956 +133 + 2,087 Deposits: Member hank reserves 17,076 -379 246 U. S. Treasurer--general account 829 + 44 221 Foreign 165 + 28 2 Other 171 -• 4 22 Total deposits 18724T -311 + 1 Deferred availability cash items (1,255) 4,597 +4i9 - 342 Other liabilities and accrued dividends 102 - 1 + 22 TOTAL LIABILITIES (1,703) 557396 +24"o + 1,785 C A P I T AL A C C O U N TS Capital paid in 511 -- 32 Surplus 990 -- + 56 Other capital accounts 70 - 63 + 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,703) 56,467 +177 + 1,865 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. Of, + .lf 2.1°/o 0 Contingent liability on acceptances purchased for foreign correspondents 129 + 12 + 46 * Figures in parentheses are the eliminations made in the consolidatingp rocess; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 13, 1964 (Acceptances and securities held under repurchase agreement are class:i fied as maturing withing 15 days in accordance with maximum maturity of the ag:r eements.) U. S. Government securities Discounts and Changes advances Acceptances Holdings during_week Within 15 days 175 39 7,030 -238 16 days to 90 days k 3^ 2,294 - 8 91 days to 1 year ** -« 10,127 - 39 Over 1 year to 5 years • .. 12,158 -- Over 5 years to 10 years _.. 2,105 „ Over 10 years -- 230 -- Total 179 73 33,944 -285 ** Less-than* $500/000 • Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4 1(b) STATEi-viaM1 OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 13, 1964 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) A S S E TS i Gold certificate account 13,766 725 3,755 706 1,047 881 712 2,315 537 275 547 464 1,802 Redemption fund for F. R. notes i,4l9 79 337 80 124 121 83 254 59 26 53 44 159 Total gold certificate reserves 15,185 804 4,092 786 1,171 1,002 795 2,569 596 301 600 508 1,961 F. R- notes of other Banks 448 23 158 32 28 19 51 26 11 23 13 28 36 Other cash 164 15 5« 5 10 11 18 17 5 5 3 4 21 Discounts and advances 179 14 12 4 2 10 15 48 2 3 36 29 4 Acceptances: Bought outright 50 — 50 -- __ -- -- — _-. Held under repurchase agreement 23 23 -._ U» S. Government securities: Bought outright-•• Bills 4,391 225 1,075 236 366 299 240 743 170 89 179 173 596 Certificates 3,265 168 799 175 272 222 179 553 127 66 133 128 443 Notes 21,622 1 1,210 5,290 1,159 1,801 1,472 1,183 3,661 84o 440 879 851 2,936 Bonds 4,626 237 1,132 248 385 315 254 783 180 94 188 182 628 Total :33,904 i 1,740 8,296 1,818 2,824 2,308 1,856 5,740 1,317 689 1,379 1,334 4,603 Held under repurchase agreement ! 4o I 4o -- -- -- -- -- -- __ -- -- -- Total U- S Government securities 33,944 i,74o 8,336 1,818 2,824 2,308 1,856 5,74o 1,317 689 1,379 1,334 4,603 Total loans and securities 34,196 1,754 8,421 1,822 2,826 2,318 1,871 5,788 1,319 692 1,415 1,363 4,607 Cash items in process of collection 7,379 573 1,400 459 551 560 629 1,165 349 222 370 366 735 Bank premises 1 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets 695 35 173 37 60 44 38 112 26 14 30 31 95 TOTAL ASSETS [58,170 1 3,207 14,302 3,144 4,652 3,959 3,420 9,699 2,312 1,261 2,437 2,312 7,465 J • — — —• < .,,.,.., Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-^.l(c) STATEMENT' OF CONDITION OF EAGH- FEDERAL RESERVE BANK ON MAY 13, 196*+- New Phila Cleve- Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 32,hck 1,895 7,828 1,890 2,755 2,635 1,869 5,828 1,313 566 1,252 970 3,583 Deposits: Member bank reserves 17,076 66l l+,866 713 1,195 719 910 2,552 592 393 759 882 2,834 U.S. Treasurer-general ac count 829 59 137 52 51 70 1+9 73 53 56 66 60 103 Foreign 165 7 1/51 9 ll+ 8 9 22 5 3 7 9 21 Other 171 1 ~ 97 * 1 1 + 12 * 1 1 1 62 Total deposits 18,21*1 728 5,151 77^ l,26l 801 969 2,61+9 650 ^53 833 952 3,020 Deferred availability cash items 5,852 505 881 388 1+87 U38 I+87 981 291 181+ 278 295 637 Other liabilities and accrt led dividends 102 5 2l+ 5 9 7 5 17 1+ 2 1+ 1+ 16 TOTAL LIABILITIES 56,599 3,133 13,884 3,057 4,512 3,881 3,330 9,^75 2,258 1,225 2,367 2,221 7,256 -CAPITAL ACCOUNTS Capital paid in 511 2k 136 28 1+6 25 29 72 18 12 23 30 68 Surplus 990 261+ 55 90 56 ll+O 3^ 23 43 57 132 Other capital accounts 70 3 18 1+ k k 5 12 2 1 k 1+ 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 58> 112.-_3i207_. Ik, 302 _3iiML. -hi&L. 3,959 3,teo 9,699 2, 312 l,26l 2,1+37 2,312 7,^65 Contingent liability en ace iept ances purchased for forej -gn correspondents 129 6 2/3I+ 7 12 7 7 18 1+ 3 6 8 17 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 33,862 1,973 8,271 1,9^5 2,930 2,707 1,958 6,ci+7 1,372 605 1,288 1,030 3,736 Collateral for F. R. notes: Gold certificate account 1 6,502 , 1+23 1,650 1+05 500 525 34o 1,100 260 112 272 180 735 Eligible paper ! 1+2 1+ 2 36 U- S. Government securitj _es '28,1+27 ; 1,580 6,750 1,600 2,550 2,205 1,650 5,177 1,210 505 1,100 900 3.2C0 Total collateral 13^,971 j 2,003 8,1+00 2,009 3,050 2,730 1,990 6,277 1,472 617 l, 1+C8 1,080 3,935 1/ After deducting $llif million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 95 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis