H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Afftctiig Bank Reserves and 'f*4u£&£**' Conditio* Statement of F.R. Banks For immediate release K.h.i May 28, 1964 The average of daily figures of total member bank reserves held during the week ended May 27 decreased a net of $211 million to $20,092 million. Esti mated currency and coin of member banks increased §kk million and their reserve balances at the Federal Reserve Banks decreased $255 million. Estimated required reserves decreased $119 million; and estimated excess reserves decreased $92 mil lion to $315 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $107 million, compared with the revised figure of $109 mil lion the week before. The principal changes reducing a.verage reserve balances with Federal. Reserve Banks were decreases of $325 million in Federal Reserve float and $90 mil lion in member bank borrowings, and an increase of $55 million in "other" F.R. accounts (net). The principal offsetting changes were an increase of $104 million in- U. S. Government securities bought outright, and decreases of $83 million in Treasury deposits with Federal Reserve Banks and $31 million in currency in circulation. Total Reserve Bank credit decreased $335 million. As of Wednesday, May 27, holdings of U« S. Government securities bought outright were $253 million higher than a week earlier, U. 3- Government securities held under repurchase agreement were $5^- million lower, and member bank borrowings were $326 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended [Wednesday, Reserve Bank credit, May 27, May 20, May 29, r May 27, and related items 1964 1964 1963 1964 JTn millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 33,819 +1C4 +2,909 34,013 Held under repurchase agreement 20 - 14 + 20 10 Acceptances-- Bought outright 49 - 1 + 4 48 Held under repurchase agreement 7 - 11 + 7 7 Discounts and advances- Member bank borrowings 2C8 - 90 - 58 204 Other 1 + 1 + 1 -- Float 1,739 -325 + 293 1,274 Total Reserve Bank credit 35,844 -335 +3,177 35,556 Gold stock 15,462 -- - 357 15,463 Treasury currency outstanding 5,581 + 8 ±_ 3 5>^ 56,887 -327 +2,822 56,6ci Currency in circulation 37,123 - 31 +2,212 37,208 Treasury cash holdings 430 + 3 + 11 457 Treasury deposits with F.R. Banks 927 - 83 + 254 ! 884 Foreign deposits with F.R. Banks 131 - 12 - 37 ; 14=5 Other deposits with F.R. Banks 174 - 4 185 --• Other F.R. accounts (net) 1,250 + 55 + 95 1,251 ^0,035 - 72 +2,536 4o,.uo Member bank reserves: With Federal Reserve Banks 16,852 -255 + 287 16,490 Currency and coin (estimated) 3,24o + 44 + 206 3,605 Total reserves held 20,092 -211 + 493 20,095 Required reserves (estimated) 19,777 -119 + 655 1 19,824 Excess reserves (estimated) 315 - 92 - 162 1 271 On May 27, 196^, U- S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7;890 million, a decrease of $21 million for the week and an increase of $10 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a), CONSOLIDATE!) STATEMENT CP COKEETICN OP THE TWELVE I^EERAL fS$B$VE BANKS (in millions cf dollars) Change since May 27, " May 20, May 29, —i?ilt 1964 1963 AS STB~T S Gold certificate~"account 13,764 - 492. Redemption fund for F. R. notes 1,413 l_ 5 + 144 Total gold certificate reserves - "1^8 * 15,176 5 Cash (472) 156 - l - 197 Discounts and advances 204 326 Acceptances: Bought outright 48 l + 6 Held under repurchase agreement 7 15 7 U. S. Government securities: Bought outright-- Bills 4,479 253 + 1,887 Certificates -14,438 Notes 24,887 +15,207 Bonds 4,647 + 266 Total "bought outright 3470I3 + 253 + 2,924 Held under repurchase agreement 10 54 + 10 Total U, g. Government securities 3^7023 199 * 2793? Total loans and securities 34,282 - 143 + 3,002 Cash items in process of collection (1,297) 5,219 869 + 325 Bank premises 103 + 1 Other assets 372 -t- 19 + 37 TOTAL ASSETS (1,769) 55,308 999 + 2,820 L I A B I L I T I ES Federal Reserve notes (472) 31,933 35 + 1,942 Deposits: Member bank reserves 16,490 44l + 324 U. 3. Treasurer--general account 884 188 + 275 Foreign l45 3 11 Other 185 + 15 Total deposits 17,704 "317 + ^e& Deferred availability cash items (1,297) 3,945 443 + 152 Other liabilities and accrued dividends 111 + 3 + 32 TOTAL LIABILITIES (1,769) 537593 ,022 + 2,714 C A P I T AL A C C O U N TS Capital paid in "~ ~ 512 + 32 Surplus 990 + 56 Other capital accounts 113 + 23 + 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,769) 55,308 999 + 2,82c 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) .4$ 2.4$ 30.3£ Contingent liability on acceptances purchased for foreign correspondents 147 + 3 + 64 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. m MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 27, 196k- (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 Dis counts and Changes advances Acceptances Holdings duriEg week Within 15 days 199 20 605 -312 16 days to 90 days 5 35 4,293 +453 91 days to 1 year ** 12,447 + 58 Over 1 year to 5 years «. — — — l4,3s5 - — Over 5 years to 10 years -~ _- __ 2,113 Over 10 years -~ «.-. 230 -.- Total 2(55 55 34,023 +199 -** Le ss~ thaFT^OO, 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 MAY 27, 1964 1 San New Phila• Cleve Rich St. Minne Kansas Boston Atlanta Chicago Dallas Fran Total 1 York delphia land mond Louis apolis City cisco (In millions of dollars) A S S E TS j Gold certificate account ]1 3,764 i 661 3,841 643 1,048 970 706 2,39^ 546 268 554 489 1,644 Redemption fund for F. R. notes 1,412 J 81 335 79 123 118 82 254 58 26 53 44 159 Total gold certificate reserves 15,176 742 4,176 722 1,171 1,088 788 2,648 6o4 294 607 533 1,803 F. R. notes of other Banks 472 j 24 161 33 30 22 54 29 12 23 13 30 4i Other cash 156 i 15 h3 5 10 11 17 17 6 4 4 4 20 Discounts and advances 204 54 18 7 2 9 15 28 5 11 16 13 26 Acceptances: Bought outright 48 -- 48 Held under repurchase agreement 7 7 U. S* Government securities: Bought outright-- Bills 1 M79 230 1,112 243 373 300 243 765 174 90 179 175 595 Certificates Notes 24,887 1,276 6,175 1,352 2,074 1,668 1,351 4,250 968 501 995 972 3,305 Bonds 4,647 238 1,153 253 387 312 252 794 181 93 186 181 617 Total 34,013 1,744 8,440 1,848 2,834 2,280 1,846 5,809 1,323 684 1,360 1,328 4,517 Held under repurchase agreement 10 10 Total "J • S • Government securities[ 34,023 1,744 8,450 1,848 2,834 2,280 1,846 5,809 1,323 684 1,360 1,328 4,517 Total loans and securities 34,282 1,798 8,523 1,855 2,836 2,289 1,861 5,837 1,328 695 1,376 l,34l 4,543 Cash items in process of collection ( 6,516 489 1,308 399 456 470 532 1,026 290 198 37^ 347 627 Bank premises 1 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets 372 19 95 20 33 23 20 56 i4 7 18 18 49 TOTAL ASSETS 57,077 3,090 14,314 3,037 4,542 3,908 3,290 9,635 2,260 1,225 2,398 2,285 7,093 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4:i(c) STATFJEKT OF COKDIT IOH OF EACH FEDERAL RESERVE BAHK.OM. MAY 27, 1964 —————r————— -— San Mew ' Phila Cleve St. Minne Kansas Total Boston Rich Atlanta Chicago Dallas Fran York delphia land Lcuis apolis City mond cisco millicm 3 cf dollars) L I A B I L I T I ES Federal Reserve notes 32,405 1,892 7,830 1,893 2,75* 2,637 1,86* 5,838 1,309 585 1,253 972 3,578 Deposits: Member bank reserves 16, 490 622 *,857 660 1,155 713 835 2,5** 591 385 7*9 821 2,556 U.S. Treasurer-general account 884! 56 1*3 *8 57 62 63 110 57 *8 55 88 97 Foreign 1*5 6 l/*2 8 13 7 8 20 5 3 6 8 19 Other 185! 1 111 1 * 3 2 2 * * 1 62 Total deposits 17,765; 685 5,153 717 1,225 785 " 908 2,676" 653~ —*36~ "~"~Ei2~" 918 2,736 Deferred availability cash items 5,2*2 *3l 877 332 *10 397 *20 871 238 164 257 298 547 Other liabilities and accrued dividends 111 6 26 5 9 7 6 18 5_ 1_ 5_ *_ 17 TOTAL LIABILITIES 55,*62 3,01* 13,886 2,9*7 *, 398 3,826 ~3,198 9,403 2,205 1,188 2,327 2,192 6,678 CAPITAL ACCOUNTS Capital paid in 512 2* 136 28 *6 25 29 73 18 12 23 30 68 Surplus *7 264 55 90 *9 56 i*c 3* 23 *3 57 132 990 Other capital accounts 5. 28 7 8 8_ Z_ 19_ 3 2 5_ 6_ 15 113 TOTAL LIABILITIES AHD CAPITAL ACCOUNTS JJIi.Q2L L3^S29— 1*,.3I* _i^.£3j„ *,5*2 3,906 3,290 9,635 2,260 1,225 2,398 2,285_ 7,093 Ccntingent liability on accept ances purchased for foreign c orre spondent s 1*7 7 2/39 8 13 7 8 21 5 * 7 8 20 FEDERAL RESERVE AGEHT'S ACCOUNTS F. R. notes outstanding [137939"~ 9W 8,28* 1/9*2 2,928 2,706 1,9*8 6,060 "1,378 612 1,300 1,043 3,771 Collateral for F. R. notes: Gold certificate account 1 6,527 1,650 *05 500 550 3*0 1,100 260 112 272 160 735 1 *23 Eligible paper 27 7 5 15 U. S. C-cvernment securities 28,*07 ! 1,580 6,750 1,600 2,550 2,185 1,650 5,177 1,210 505 1,100 900 3,200 Total collateral [ 3*,96l | 2,003 8,*00 2,012 3,050 2,735 1,990 6,277 1,475 617 1,387 1,080 3,935 1/ After deducting {j> I03million participations of other Federal Reserve Banks. * less than $500,000. 2/ After deducting $ xo8million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis