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 Reserves and Condition Statement of F.R. Bonks For immediate release June 18, 1964 The average of daily figures of total member "bank reserves held during the week ended June 17 increased $402 million to $20,587 million. Estimated cur rency and coin of member banks increased $203 million and their reserve balances at the Federal Reserve Banks increased $199 million. Estimated required reserves increased $270 million; and estimated excess reserves increased $132 million to $46l million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $134 million, compared with the revised figure of §k0 million the week before• The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $352 million in Federal Reserve float and $38 mil lion in member bank borrowings, and a decrease of $68 million in "other" F* R. accounts (net). The principal offsetting changes were decreases of $92 million in U. S. Government securities bought outright and $7^ million held under re purchase agreement, and an increase of $126 million in currency in circulation. Total Reserve Bank credit increased $2l4 million. As of Wednesday, June 17, holdings of U. S. Government securities bought outright were $101 million lower than a week earlier, U. 3. Government securities held under repurchase agreement were $6l million higher, and member bank borrowings were $120 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 17, June 10, June 19, June 17, and related^ items _ 196k 1964 1963 1964 "Tin millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 34,438 • 92 +3,194 34,438 Held under repurchase agreement 153 - Jk + 80 179 Acceptances— Bought outright k-9 + 1 + 6 48 Held under repurchase agreement 20 - 12 + 19 22 Discounts and advances- Member bank borrowings 327 + 38 + 43 214 Other 1 + 1 + l -- Float 1,823 ±352 z—3° _Jk254 Total Reserve Bank credit 36,811 +214 +3,313 36,855 Gold stock 15,46l - 1 337 15,463 Treasury currency outstanding 5,582 - 8 5,585 -•• 57,854 +205 +2,977 57,903 Currency in circulation 37,613 +126 +2,282 37,647 Treasury cash holdings 415 - 21 + 11 4o4 Treasury deposits with F.R. Banks 880 - 25 + 99 790 Foreign deposits with F.R. Banks 131 - 4 - 71 154 Other deposits with F.R. Banks 196 - 3 - 41 I87 Other P. Re accounts (net) _lj2k0 - 68 + 129 1,230 4o,477 + 6 +2,413 4o,~4l2 Member bank reserves: With Federal Reserve Banks 17,378 +199 + 565 17,491 Currency and coin (estimated) 3,209 +203 + 226 3,475 Total reserves held 20,56? +402 + 791 20,966 Required reserves (estimated) 20,126 +270 + 828 20,458 Excess reserves (estimated) 46l +132 - 37 508 On June 17, 196k, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,037 million, an increase of $1GC million for the week and a decrease of $17 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 OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since June 17, June 10, June 19, 1964 1964 1963 A S S E TS Gold certificate account 13,766 + 12 - 46l Redemption fund for p. R. notes 1,431 + 9 + j-44 Total gold certificate reserves 15,197 + 21 - 317 Cash (1*04) 1 4 3 +3 • 205 Discounts and advances 2l4 - 120 540 Acceptances,: Bought outright 48 -- +8 Held under repurchase agreement 22 9 17 U. S. Government securities: Bought outright-- Bills 4,815 - 101 + 2,009 Certificates — ~ ~l4,443 Notes 24,912 -- +15,213 Bonds 4,711 zz + 31g Total bought outright 34,438 - 101 + 3,098 Held under repurchase agreement 179 + "1 "7 Total U. S. Government securities 34,617 40 + 3,031 Total loans and securities 34,901 - 169 + 2,5l6 Cash items in process of collection (1,637) 7*216 +1,985 + 307 Bank premises 103 ~" + 1 Other assets 369 + 7 + 24 TOTAL ASSETS (2,04l) 57,929 +1,847 +2,326 L I A B I L I T I ES Federal Reserve notes (404) 32,343 35 + 2,113 Deposits: Member hank raserveo 17,491 + 571 + 194 U. S. Treasurer--general account 790 - 55 - 63 Foreign 154 r 12 - 13 Other (101) 213 + 23 - 29 Total deposits (101) 18,648 + 551 + 69 Deferred availability cash items (1,536) 5,236 +1,335 + 11 Other liabilities and accrued dividends 113 - §. t 2£ TOTAL LIABILITIES (2,04l) 56,340 +1,915 + 2,225 C A P I T AL A C C O U N TS Capital paid in 512 „ + 31 Surplus 990 -- + 56 Other capital accounts §7 - 68 + l4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,04l) 57,929 +1,847 + 2,326 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) 29.5$ «4# 2.1/> Contingent liability on acceptances purchased for foreign correspondents l47 1 + 64 * 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, JUNE 17, 196~¥ (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 Changes Ea scounts and advances Acceptances Holdings during week Within 15 days 210 36 820 +2C4~ 16 days to 90 days k 34 4,477 -199 91 days to 1 year ** — 12,554 - 45 Over 1 year to 5 years ~~ -- 14,691 +307 Over 5 years to 10 years — -- 1,836 -307 Over 10 years -» _-. 239 Total 214" 70 34,617 To ** 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 JUNE 17, I904 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond I Louis apolis I City cisco .... ' (15-millions of dollars) A S S E TS Gold certificate account 13,766 696 3,375 675 1,063 912 749 2,550 536 252 585 544 1,829 Redemption fund for P. R. notes 1,431 80 339 80 125 117 87 253 58 27 56 45 164 Total gold certificate reserves 15,197 776 3,W 755 1,188 1,029 836 2,803 594 279 641 589 1,993 F. R. notes of other Banks 4o4 19 158 25 24 23 36 24 11 20 10 21 33 Other cash 143 12 39 6 7 11 16 16 5 4 4 4 19 Discounts and advances 214 20 45 1 11 6 33 56 5 12 8 6 11 Acceptances: 1 48 Bought outright 48 Held under repurchase agreement | 22 22 U- S. Government securities: Bought outright-- Bills 1 4,815! 250 1,180 262 4oo 328 269 806 188 100 194 188 650 Certificates Notes ! 24,912 ! 1,293 6,106 1,353 2,067 1,694 1,393 4,168 975 519 1,006 975 3,363 Bonds 4,711 245 1,155 256 391 321 263 788 -I73 1 T 84 ?" 98 190 184 636 Total |34,418" r 1,788" • 1,371~" 2;B5F- "2,343-" 1,92"5 "5,762 "" 717 " 1,390 1,347 "4,649 Held "under repurchase agreement ! 179 179 Total U. S. Government securities 34,617 ! 1,788 8,620 1,871 2,858 2,343 1,925 5,762 1,347 717 1,390 1,347 4,649 Total loans and securities 34,901 j 1,808 8,735 1,872 2,869 2,349 1,958 5,818 1,352 729 1,398 1,353 4,66o Cash items in process of collection ' 8,853 587 1,889 547 666 631 670 1,555 377 268 456 378 809 Bank premises 103 3 8 3 6 5 18 22 6 4 6 12 10 Other assets 369 19 93 20 33 22 21 5£_ 14 8 16 49 18 TOTAL ASSETS 59,970 3,224 14,636 3,228 4,813 4,070 3,555 10,294 2,359 1,312 2,531 7,573 2,375 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 17, 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) L I A B I L I T I ES Federal Reserve notes 32,747' 1,925 7,868 1,908 2,776 2,678 1,884 5,892 1,326 590 1,273 986 3,641 Deposits: Member bank reserves 17,491 659 4,805 731 1,217 766 953 2,724 613 410 813 920 2,880 U.S. Treasurer-general ac: count 790 53 150 34 74 51 67 107 51 52 60 55 36 Foreign 154 7 1/40 9 14 8 9 22 5 3 7 9 21 Other 314 l 190 9 6 10 7 14 3 -*> 4 2 65 Total deposits IH7749 720 5,185 783 l,3H 835 1,036 2,867 672 468 884 986 3,002 Deferred availability cash items 6,772 I 498 1,132 444 576 470 537 1,289 303 215 299 306 703 Other liabilities arid accnl ed dividends 113 6 30 5 8 7 7 18 4 2 5 5 16 TOTAL LIABILITIES 58,381 ! 3,1^9 14,215 3,1^0 4,671 3,990 3,464 10,066 2,305 1,275 2,461 2,283 7,362 CAPITAL ACCOUNTS Capital paid in 512 24 136 28 46 25 29 73 18 12 23 30 68 Surplus 990 I 47 264 55 90 49 56 l4o 34 23 43 57 132 Other capital accounts 87 4 21 5 6 6 6 15 2 2 4 5 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 59,970 Q 224 14,636 3,228 4,813, 4,070 3,555 10,294 2,359 1,312 2,531 2,375 7,573 Contingent liability on accept ances purchased for foreign correspondents 2/39 14 7 8 21 3 8 20 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding 8,329" 1,966 2,954 2; 760 1,972 6,109 1,198" 611 l,312 1,058 3,839 Collateral for F. R. notes: Gold certificate account 1,650 405 500 565 340 1,100 260 112 272 180 735 Eligible paper 1 -- 5 8 U. S. Goveriiinent securities 6,850 i,6co 2,550 2,23c 1,700 5,177 1,210 505 1,100 900 3,4co Total collateral 8,50c 2,006 3,050 2,795 2,040 6,277 1,475 617 1,380 1,060 4,135 After deducting $114 miilior participations of other Federal Reserve Brings. 2/ After deducting £l08 million participations of other Federal Reserve Eanks. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis