H.4.1 Factors Affecting Reserve Balances of Depository Institutions

.•^jgJ2& F E D E R AL R E S E R VE Factors Affecting lank Reserves aid For immediate release Condition Statement of F.I. lanks May 21, 1964 The average of daily figures of total member bank reserves held during the week ended May 20 increased a net of $7 million to $20,299 million. Esti mated currency and coin of member banks increased $118 million and their reserve balances at the Federal Reserve Banks decreased $111 million. Estimated required reserves increased $13 million; and estimated excess reserves decreased $6 million to $395 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $97 million, compared with the revised figure of $87 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $189 million in U. S. Government securities bought outright and $49 million held under repurchase agreement, and an increase of $256 million in "other" F- R. accounts (net). The principal offsetting change was an increase of $424 million in Federal Reserve float- Total Reserve Bank credit increased $159 - As of Wednesday, May 20, holdings of U. 8. Government securities bought outright were $144 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $24 million higher, and member bank borrowings were $351 million higher. Outright holdings of bills decreased $165 million and bonds increased $21 million. Holdings of certificates decreased $3;265 million and notes increased $3,265 million, reflecting the exchange of $3,265 million certificates and $3,017 million notes maturing May 15 for $6,282 million of h$ notes maturing November 15, 19&5 - Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 20, May 13/ May 22, May 20, and related items 1964 1964 196y 1964 Jin millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 33,715 -189 +2,801 33,760 Held -under repurchase agreement 34 - 49 + 34 64 Acceptances-- Bought outright 50 - 1 + 4 49 Held under repurchase agreement 18 + 18 - 9 Discounts and advances-- Member bank borrowings 298 - 17 530 - 16 Other - 23 Float 2,o64 -i- 16$ J-'199 Total Reserve Bank credit 3^, 179 +424 +3,"oI6 367125 Gold stock 15,462 +159 - 366 15^63 Treasury currency outstanding 5,573 - 1 5,575 57,214 ++ 1602 +2,6h§ 57,163 Currency in circulation 37,154 + 4 +2,258 37,163 Treasury cash holdings 427 + 10 5 435 Treasury deposits with F. R. Banks 1,010 + 20 79 1,072 Foreign deposits with F. R. Banks 143 - 17 47 148 170 Other deposits with F. R. Banks 178 j- l Other F. R. accounts (net) +§56 1,244 33 4b,107 +271 +2,329 4c,232 Member bank reserves: With Federal Reserve Banks 17,107 - in + 320 16,931 Currency and coin (estimated) 3,192 +118 + 296 Total reserves held 20,299 + 7 + 6oB 20/403 Required reserves (estimated) 19,904 +13 + 674 19,8&9 Excess reserves (estimated) 395 - 6 - 58 514 On May 20, 1964, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,911 million, a decrease of $6 "million for the week and an increase of $108 million from the comparable da/be a year a go. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HJul(a) CONSOLIDATED StfAtfMvfejJT OF CONDITION OF THE TWELVE FfcDElkl, ftESEfr/£ BANKS (In millions of dollars) JJ.J.CXJL D J Change since May 20, May 13, May 22, 1964 lg64 1963 A S S E TS Gold certificate account 13,764 2 - 498 Redemption fund for F. R* notes 1,417 _ 2 ^ + 149 Total gold certificate reserves 15,181 - 359 Cash (475) 157 7 201 Discounts and advances 530 + 351 239 Acceptances: Bought outright 49 1 + 5 Held under repurchase agreement 22 1 22 U. S. Government securitites: Bought outright-- Bills 4,226 - 165 + 1,888 Certificates -3,265 -14,438 Notes 24,88? +3,265 +15,207 Bonds 4,647 + 21 + 268 Total "bought outright 33/760 2,925 Held under repurchase agreement 64 + 24 64 Total U. S. Government securities - 120 "279339 33TH25 Total loans and securities + 229 + 2,777 34,425 Cash items in process of collection (1^10) 6,088 36 + 702 Bank premises + l 103 Other assets - 342 + 39 -353 TOTAL ASSETS (1,885) - 160 + 2,9^9 56,307 L I A B I L I T I ES Federal Reserve notes (475) 31,898 58 + 2,090 Deposits: Member hank reserves 16,931 145 + 95 U. S. Treasurer--general account 1,072 243 + 242 Foreign 148 17 - 8 Other 170 1 - 6 Total deposits 18,321 ~5o + 323 Deferred availability cash items (1^10) 4,388 209 + 422 Other liabilities and accrued dividends 108 6 + 35 TOTAL LIABILITIES (1,885) 5^7715 - 181 + 2,870 C A P I T AL A C C O U N TS Capital paid in 512 + 33 Surplus 990 + 56 Other capital accounts 90 20 + 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,885) 56,307 160 + 2,969 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 -9# .1* •3# Contingent liability on acceptances purchased for foreign correspondsnts 144 + 15 61 Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. _ MATURITY DISTRIBUTION OF LOJ-Jfe AMD SECIBITIEg" HAY 20, 1964 (Acceptances and securities held uader 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 526 38 917 -6,113 16 days to 90 days 4 33 3,840 +1,546 91 days to 1 year * __ 12,389 +2,262 Over 1 year to 5 years __ 14,335 +2,177 Over 5 years to 10 yeairrss -- 2,113 + 8 Over 10 years -- 230 -- Total 530 71 33,824 - 120 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 MAY 20, 1964 --•-- - •• -'• -.-•-—.——" •" •" •• •' '" •' " 1 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco " Tin millions of dollars) A S S E TS Gold certificate account 13,764 665 3,783 723 1,025 888 695 2,403 524 255 535 484 1,784 Redemption fund for F• R• notes 1,417 81 335 79 124 120 83 254 58 27 53 44 159 Total gold certificate reserves 15,181 746 "4,118 802 1,149 1,008 778 '2,357 582 282 588 528 1,943 F- R. notes of other Banks 475 26 163 38 30 22 53 26 13 23 11 30 4o Other cash 157 16 45 4 9 11 17 18 6 4 4 3 20 Discounts and advances 530 15 256 2 7 23 33 65 21 10 36 13 49 Acceptances: 1 Bought outright 49 -- 49 -- -- -- -- -- -- -- — -- -- Held under repurchase agreement 1 22 22 U- S- Government securities: Bought outright-- Bills 4,226 219 1,039 226 355 284 232 7l4 165 86 170 165 571 Certificates Notes 24,887 1,291 6,117 1,334 2,093 1,674 1,364 4,200 975 509 1,001 968 3,361 Bonds 4,647 241 1,142 249 391 313 255 784 182 95 187 181 627 Total i33,760 1 1,751 8,298 1,809 2,839 2,271 1,851 5,698 1,322 690 1,358 1,314 4,559 Held under repurchase agreement 64 -- 64 Total U. S- Government securities 133^11 . 1,751 8,362 1,809 2,839 2,271 1,851 5,698 1,322 690 1,358 1,314 4,559 Total loans and securities 134,425 1,766 8,689 1,811 2,846 2,294 1,884 5,763 1,343 700 1,394 1,327 4,608 Cash items in process of collection ! 7,498 : 603 1,445 467 571 544 594 1,202 329 219 407 351 766 Bank premises [ 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets ! 353 ! 18 89 20 32 20 19 53 13 8 16 18 hi TOTAL ASSETS 158,192 3,178 14,557 3,1^5 M43 3,904 3,363 9,74l 2,292 1,240 2,426 2,269 7,434 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANKTON MAT 20, 1964 New Phila Cleve Rich St. Minne Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco • ~(ln millions of doll. ars") L I A B I L I T I ES Federal Reserve notes 32,373 1,894 7,826 1,892 2,751 2,629 1,865 5,833 1,310 584 1,251 969 3,569 Deposits: Member hank reserves 16,931 590 5,032 693 1,128 697 890 2,528 603 390 760 855 2,765 U.S. Treasurer-general acc ount ! 1,072 81 24l 73 101 56 39 125 54 47 43 56 156 Foreign 11*8 6 1/45 8 13 7 8 20 5 3 6 8 19 Other 170 l 104 1 * 5 2_ 2 * 3 1 51 Total deposits 18,321 """"6*78 5,422 775 1,242 765 939 "2,675 ' 662~ 44o 812 920 2,991 Deferred availability cash items 5,798 86i 385 498 424 462 262 176 288 284 645 526 987 Other liabilities and accrvl ed div idends 108 25 5 10 6 6 4 3 5_ 4 17 5 18 TOTAL LIABILITIES 56,600 3,103 14,134 3,057 4,501 3,824 3,272 9,513 2,238 1,203 2,356 2,177 7,222 CAPITAL ACCOUNTS Capital paid in 512 24 136 28 46 25 29 73 18 12 23 30 68 Surplus 99O hi 264 55 90 49 56 i4o 34 23 43 57 132 Other capital accounts 90 . 4 22- 5 6 6 6_ 15 2_ 2_ 4 5 12 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 3,178 J^zSSL. _.iJ,4l_ ^fj^__3j,3gl~ 1.240 „2,426_ -2^262_. 7.434 Contingent liability on ace: eptances purchased for fore:L gn correspondent s i44 7 2/38 8 13 7 6 _ 20_ 5__ 4_ 7_ 8_ 19 FEDERAL RESERVE AGENT'S ACCOUNTS F- R. notes outstanding 33,948 ! 1,97^ 8,275 1,949 2,931 2,710 1,957 6,060 1,371 611 1,296 1,046 3,768 Collateral for F- R. notes Gold certificate account 1 6,527 i 423 1,650 405 500 550 340 1,100 260 112 272 180 735 Eligible paper ! 59 2 21 36 U. S. Government securit;L es 28,407 6,750 1,600 2^510,_ .2xl8l. 1.210 50.1, l.ioo 900 3.200 Total collateral 34,993 2,003 6,4oo 2,007 3,050 2,735 1,990 6,277 1,491 617 l,4c8 1,080 3,935 1/ After deducting $ 103million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 106million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis