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FEDERAL RESERVE Factors Affecting Bonk Reserves and Condition Statement of F.R. Banks For immediate release February 20, 1964 H.4.1 The average of daily figures of total member bank reserves held during the week ended February 19 decreased a net of $55 million to $20,122 millionEstimated currency and coin of member banks increased $89 million and their reserve balances at the Federal Reserve Banks decreased $l44 million. Estimated required reserves decreased $7 million; and estimated excess reserves decreased $48 million to $352 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $6l million, compared with $33 million the week before, The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $388 million in holdings of U. 3. Government securities, $76 million in member bank borrowings, and $36 million in gold stock. The principal offsetting change was an increase of $350 million in Federal Reserve float. Total Reserve Bank credit decreased $120 million. As of Wednesday, February 19, holdings of U. S. Government securities bought outright were $459 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $59 million lower, and member bank borrowings were $3C8 million lower. Outright holdings of bills decreased $460 million. Holdings of certificates and bonds decreased $3,801 million and $90 million, respectively, and notes increased $3,892 million, reflecting the exchange of certificates and bonds maturing February 15 for $3,892 million of 3 7/8 per cent notes maturing August 13, I965. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement AcceptancesBought outright Held under repurchase agreement Discounts and advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F . 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. 12, I Feb. 20, Feb. 19, Feb. 19, 1964 . , 1964 1 1963 1961+ (In millions of dollars) 32,862 25 -352 • 36 +2,525 30 62 64 291 + 134 73 + 144 1,867 15,^62 - 76 - 5 ±350 -120 - 36 56,134 - 3 -158 + 17 +2,328 36,469 420 979 124 209 960 39,162 t 7 - 4 + 1 - 27 + 9 - 1 - 14 +2,176 16,972 3,150 20,122 19,770 352 -144 + 89 1,8*6 l57cB8 32,720 - 55 - 7 - 48 ?i + - 24 78 63 - 101 - 126 +l,94l + + 386 224 6.10 683 73 15,463 55, 790 36,432 432 944 141 199 1,052 39,20C 16,589 3,448 20,037 19,805 232 On February 19, 1964, U . S . Government securities held in custody by the Federal Reserve Banks for foreign account were $8,784 million, an increase of $7 million for the week and an increase of $1,626 million from the comparable date a year ago. H.4.1(a) Oi' CONDITION CCilfJOLID/'TED OF THE TWELVE FEDERAL RESERVE BANKS (in milliens of dollars) Feb. 19, 1964 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities (690) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 13,754 I,4l5 15,169 15 8 7 628 150. 478 293 73 9 308 108 330 62 2 2 3,279 3,265 21,621 4,555 32,720 - 460 -3,801 +3,892 32,720 518 + 918 -10,315 +11,332 + 391 + 2,326 - 133' + 2,193 - 90 - 459 59 32,855 - 830 + 1,867; 6,286 102 491 (2,016) 55,196 + 706 + Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change since Feb. 12, Feb. 20, 1964 1963 281 609 3 + 175 + 2,062" (690) 31,279 130 + 1. 16,589 172 2 4 138 - 304 (1,326) 944 l4i 199 17,873 (1,326) (2,016) 4,399 82 53,633" - l4l - + 177 1 - 258 - 265 36 49 112 390 + 361 + 15 + 1,966 C A P I T A L A C C O U N T S Capital paid in 1 + 31 505 Surplus + 56 990 Other capital accounts 24 68 + 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (2,0l6) + 2,062 - 281 (2,016) 55,196 Ratio of geld certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 30.4$ M1" y° Contingent liability on acceptances purchased for foreign correspondents 93 p * 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 19, 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 Changes Holdings Acceptances advance>s during week -3,856 Within 15 days 72 653 15 +5,896 16 days to 90 days 7,892 1 vr „ -5,969 « 9,740 91 days to 1 year -+3,480 Over 1 year to 5 years -12,149 „ 69 Over 5 years to 10 years -2,067 „ __ Over 10 years 219 7-518" 32,720 Total 62 73 STATEMENT- OF CONDITION' OF EACH FEDERAL -RESERVE BAI^-OH - ^BfiUARY ~19f 1964 H.4xL(h) Total Boston Gold certificate account 13,754 Redemption fund for F. R. notes j 1,415 Total gold certificate reserves ! 15,169 746 79 Philadelphia New York Cleveland Richmond 901 117 1,018 Atlanta 1Chicago 1 (In millions of doll.arsj St. Louis Minneapolis Kansas Dallas City San Francisco A S S E T S 561 60 257 29 551 54 529 44 819 2,462 258 2,720 621 286 605 573 l,84l 152 1,993 78 25 5k 18 38 22 14 42 10 14 13 44 8 55 46 2 7 15 21 3 1 7 7 l 275 274 1,810 381 2,740 224 223 1,477 311 2,235 181 180 1,193 251 1,805 540 538 3,563 751 5,392 128 128 846 178 1,280 66 66 661 136 135 894 188 1,353 130 129 857 181 1,297 432 430 2,850 601 4,313 657 77 825 3,587 336 3,923 734 929 123 1,052 690 293 53 20 179 65 55 16 54 20 4o Discounts and advances 73 Acceptances: Bought outright 62 U. S. Government securities: Bought outright-Bills 3,279 Certificates 3,265 Notes 21,621 Bonds ^,555 Total ;32,720 Held under repurchase agreement 2 4 3 F. R. notes of other Banks Other cash 733 86 62 824 821 5,433 166 I65 1,092 230 1,653 8,223 177 176 1,169 246 1,768 Total U. S. Government securities 132,720 I 1,653 8,223 1,768 2,740 2,235 1,805 5,392 1,280 661 1,353 1,297 4,313 Total loans and securities 8,289 1,771 2,742 2,242 1,820 5,413 1,283 662 1,360 1,304 4,31* 1,491 8 126 461 3 27 591 6 43 544 5 28 587 17 27 1,255 22 75 325 6 18 218 4 12 398 6 22 352 12 24 8c6 10 65 l4,c8i 3,067 4,508 3,895 3,373 9,577 2,289 1,234 2,418 2,317 7,289 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1 132,855 7,612 | 1C2 491 57,212 1,655 584 3 24 3,164 437 92 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 19, 1964 Total Boston L I A B I L I T I E S Federal Reserve notes Deposits: Member "bank reserves U.S. Treasurer-general ac: count Foreign Other Total deposits Deferred availability cash items Other liabilities and accrvied dividends TOTAL LIABILITIES New York Philadelphia Cleve- Rich- Atlanta Chicago mond land (In millions of dollars) St. Louis Minne- Kansas apolis City Dallas San Francisco 31,969 1,879 7,7^ 1,862 2,740 2,609 1,836 5,764 1,302 584 1,222 956 3,471 16,589 944 141 199 17,873 4,6l4 178 1/53 137 4,982 713 35 7 5 760 1,101 37 709 64 874 67 2,503 116 603 58 386 6 5 6 2 17 2 784 35^ 418 949 496 2,638 921 11 * 1,149 472 910 74 7 5,725 682 ^7 6 * 735 472 277 2,716 172 16 43 2,947 652 82 55,649 4 3,C90 20 13,667 4 2,980 8 4,369 5 3,816 135 264 15 28 55 4 45 90 4 25 47 3 57,212 3,164 l4,o8l 3,067 93 5 936 * 665 265 176 778 50 5 4 837 286 4 3,285 14 9,352 3 2,235 2 1,198 4 2,349 3 2,227 11 7,081 5 28 56 4 72 140 13 17 34 3 12 23 1 22 ^3 4 30 57 3 67 132 9 3,895 3,373 9,577 j,289_ 1,234 2,4i8 2,317 7,289 5 5 13 5 13 4 46 3 l 436 • * 991 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on ace:eptances purchased for forej corre spondent s 505 : 990 ; 68 ; _2/24__ 5 JkSPJL 9 3__ 2 4_ 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 33,6^1 1,969 8,268 1,924 2,940 2,705 1,934 6,033 1,368 607 1,259 1,025 3,649 6,642 13 28, 387 433 1,650 500 605 365 1,100 750 2,550 2,170 1,650 5,177 500 272 7 1,100 180 6,750 250 3 1,210 112 1,580 425 3 1,600 900 3,200 35,042 2,013 8,4oo 2,028 3,050 2,775 2,015 6,277 1,^3 612 1,379 1,080 3,950 1/ After deducting $ 88 million participations of other Federal Reserve Banks. 2/ After deducting $ 69 million participations of other Federal Reserve Banks. * Less than $500,000.
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