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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F*IL Banks H.4.1 For immediate release February 13, 1964 The average of daily figures of total member bank reserves held during the week ended February 12 decreased a net of $80 million to $20,l4o million. Estimated currency and coin of member banks decreased $107 million and their reserve balances at the Federal Reserve Banks increased $27 million. Estimated required reserves decreased $112 million; and estimated excess reserves increased $32 million to $400 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $33 million, compared with the revised figure of $126 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $266 million in holdings of U. S* Government securities, $125 million in member bank borrowings, and $79 million in Federal Reserve float. The principal offsetting changes were increases of $219 million in Treasury deposits with Federal Reserve Banks and $175 million in currency in circulation. Total Reserve Bank credit increased $437 million. As of bought outright securities held bank borrowings Wednesday, February 12, holdings of U. S. Government securities were $113 million lower than a week earlier, U. S. Government under repurchase agreement were $24 million lower, and member were $12 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement Discounts and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with P. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Change from week ended Wednesday, Feb. 13, Feb. 12, Feb. 12, Feb. 5, 1964 1964 1964 1963 millions of dollars) (In 33,2l4 61 +235 + 31 +2,767 - 278 64 2 + + + 33,179 59 3 2 64 2 +125 - 30 + 79 +437 - 15 - 2 +421 + 202 + 5 + 177 +2,878 - 430 + 23 +2,471 381 1,218 34,903 15,463 5,581 55,947 +175 - 6 +219 + 20 - 14 + 1 +394 +2,199 36,553 424 978 151 200 961 39,176 3 422 942 137 197 935 17,116 3,024 20,140 + 27 -107 - 80 19,740 -112 + 32 367 5 1,496 35,208 15,498 5,586 56,292 36,462 4oo 2 1 + i4o 61 98 + 2 +2,180 + + + + - 291 225 516 619 103 __ 39,186 16,761 3,421 20,182 19,768 4l4 On February 12, 1964, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,777 million, an increase of $48 million for the week and an increase of $1,629 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT CF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Feb. 12, 1961+ ASSETS Gold certificate account Redemption fund for P. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 13,769 (680) LIAB I L . 1 T I E S Federal Reserve n o t e l ~ (1,239) (1,919) (680) Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 1,407 15,176 302 3 0 381 38l _~ 6k 64 — 2 2 - 1 l Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change since Feb. 5, Feb. 13, ...19.6JL__ 19^3 613 - 50 + 136 - 4 ^5? 2 -- 8 8 - 118 + 217 - 42 (301) (301) (938) (1,919) + 5 ' 2 -113 -113 --_zz +1,339 -6,lib + 7,p42 + **H - 24 -137 -180 +2,^9g +2,7l6 5,580 5,580 102 102 632 632 55,477 -1-18O - 1 + 22 TTa + 339 2 + 121 +2,579 31,409 +1^7 +2,059 16,761 942 137 337 18,177 4,222 83 53,891 -718 +307 — ±131 -280 +100 + 3. -30 3,739 3,739 7,066 7,066 17,729 17,729 4,645 k,6k5 33,179 59 33,238 33,238 33,685 7El3 ^2/^B 254 + 324 l^;2 - 69 ± 2& + 42J - 52 + 12. +2,kk% + CAPITAL ACCOUNTS Capital paid in - - -+ 31 5o4 Surplus 990 — + 56 Other capital accounts 92 - 11 + 50. TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,919) 55,^77 - 4l ±2,529Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages --not consolidated) 30.0$ -.2$ - 2.8$ Contingent liability on acceptances purchased for foreign correspondents 93 * 1 + 9 * 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 /FEBRUARY 12, 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 advances Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years :s Over 10 years Total Acceptances 380 1 13 __ -_ ----- 38T 56" --C 53 Holdings 4,509 1,996 15,709 8,669 2,136 Changes during week - 25 -107 - 5 219 ---- 33,238 -137 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY'12, 1964 H. 4.1(h) Total Boston New York St. Phila- Cleve- RichAtlanta Chicago delphia land mond Louis (In millions of dollars) Minne- Kansas Dallas apolis City San Francisco ASSETS 13,769 1,407 15,176 736 80 816 3,410 333 3,743 713 77 790 1,030 124 1,154 934 110 1,044 856 85 680 302 58 19 165 66 53 17 52 20 Discounts and advances 381 3 Acceptances: Bought outright ! 64 Held under repurchase agreement 2 — U. S. Government securities: Bought outright-Bills 190 i 3,739 7,066 Certificates 360 Notes 904 17,729 Bonds 237 4,645 Total 33,179" 1759I Held under repurchase agreement 59 117 2 54 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash 64 2 946 1,788 4,486 1,176 87396 — 94l 2,186 259 2,445 525 60 585 271 29 300 613 54 667 639 44 683 1,856 152 2,008 41 17 74 28 57 40 20 16 42 11 16 13 45 8 57 47 15 19 149 6 2 8 — — — — 6 • * — — — — — 199 375 94l 247 1,762" 308 581 1,458 382 2,729 258 489 1,226 321 2,294 201 381 955 250 1,787 621 1,173 2,945 772 5,511 146 276 692 181 1,295 75 142 357 93 667 154 291 729 191 1,365 147 277 696 182 1,302 494 933 2,340 613 4,380 59 Total U. S. Government securities 33,238 1,691 8,455 1,762 2,729 2,294 1,787 5,511 1,295 667 1,365 1,302 4,380 Total loans and securities 33,685 1,694 8,638 1,764 2,783 2,309 1,806 5,660 1,301 669 1,373 1,302 4,386 6,819 102 632 612 3 32 1,166 8 164 373 3 34 426 6 54 574 5 38 603 17 34 965 22 225 9& 380 6 24 371 6 28 329 12 29 795 10 84 3,234 13,950 3,034 4,495 4,028 3,503 9,287 2,332 2,474 2,4o8 7,387 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 57,396 4 13 1,264 * Less than $500,000. H.4-.l(e)' ^ A E M S M V Q F CONDITION OF.EACH FEDERAL RESERVE BANK ON FEBRUARY 12, 1964 • Total Boston 32,089 1,885 16,761 942 137 638 18,478 666 62 6 82 816 New York Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Dallas San Francisco 1,227 956 3,485 403 53 3 20 479 165 764 77 6 44 891 284 968 83 7 35 1,093 267 2,731 195 18 115 3,059 627 Cleveland 7,774 1,869 2,748 2,617 1,848 5,792 1,306 582 4,678 103 1/42 128 4,951 712 19 7 6 744 1,204 15 12 1 1,232 707 121 7 73 9C8 906 93 7 82 2,427 67 18 2 1,088 2,514 735 595 54 4 50 703 266 L I A B I L I T I E S Federal Reserve notes Deposits: Member "bank reserves U.S. Treasurer-general a<:count Foreign Other Total deposits Rich- Atlanta Chicago St. mond Louis (In millions of dollars} Philadelphia Minne- Kansas apolis City 774 327 363 420 476 20 3,l6l 13,519 4 2,944 7 4,350 6 3,951 4 3,416 14 9,055 4 2,279 2 1,228 4 2,406 3 2,319 11 7,102 28 55 7 45 90 10 25 49 3 28 56 3 72 140 20 17 34 2 12 23 1 22 43 3 29 57 3 67 132 6 4,028 __3,503_ 9,287 2,332 1,264 2,474 2,4c8 7,387 13 3 2 4 5 13 5,160 456 83 55,810 4 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ac<septances purchased for fore:Lgn _ correspondents 504 990 92 24 47 2 135 264 32 _5L3££ _3*23i__13^10_ ._.3,_034_™iL.1t95_„ 93 4 2/25 5 5 9 5 FEDERAL RESERVE AGENT'S ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 8,251 1,935 2,952 2,719 1,949 6,056 1,370 608 1,268 1,032 433 1,650 500 605 365 1,100 750 2,550 3,050 2,150 1,650 500 2,755 2,015 5,177 6,277 272 8 1,100 180 6,750 8,400 250 6 1,210 1,466 120 1,580 425 2 1,600 2,027 620 1,380 900 1,080 3, 200 3,950 '33,774 " 1,978 6,650 16 28,367 35,033 2,013 l/ After deducting $ 95 million participations of other Federal Reserve Banks, 2/ After deducting $ 68 million participations of other Federal Reserve Banks. 3,656"
@FedFRASER