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FEDERAL ••f-WRU^N-- RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release February 6, 1964 H.4.1 The average of daily figures of total member bank reserves held during the week ended February 5 decreased a net of $4 million to $20,198 million. Estimated currency and coin of member banks decreased $253 million and their reserve balances at the Federal Reserve Banks increased $249 million. Estimated required reserves increased $12 &illioh; and estimated excess reserves decreased $16 million to $359 million* Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $117 million, compared with the revised figure of $198 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $2rf0 million in holdings of U. S. Government securities and $65 million in member bank borrowings, and decreases of $110 million in Treasury deposits with Federal Reserve Banks, $8l million in "other" F.R. accounts (net), and $77 million in currency in circulation. The principal offsetting change was a decrease of $34j million in Federal Reserve float. Total Reserve Bank credit decreased $9 million. As of bought outright securities held bank borrowings Wednesday, February 5, holdings of U. S. Government securities were $571 million higher than a week earlier, U. S. Government under repurchase agreement were $83 million higher, and member were $92 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement Acceptances-Bought 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) Averages of daily figures Week ended Change from week ended Wednesday, Feb. 6, Feb. 5, Jan. 29, Feb. 5, 1964 1964 1964 1963 dollars) millions of (in 32,979 30 66 1 242 35 1M1 34,771 15,513 5,588 55,871 36,287 430 759 131 2l4 960 38,782 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 17,089 3,109 20,198 19,839 359 33,292 +240 + 30 +2,744 - 275 83 - 1 + 1 + 5 64 3 + 65 + 3 -3^7 - 9 + 19 + 33 + 59 +2,577 - 415 + 19 +2,180 + 1 + 6 - 2 9 393 30 1,278 35,143 15,513 5,592 56,248 - 77 + 20 -110 - 10 + 6 - 81 -252 +2,180 + 9 - 24 - 75 - 83 - 11 36,387 t:1,998 38,770 +249 -253 - 4 + 12 - 16 + + + + 182 332 5lk 612 17,^79 3,252 20,731 19,853 - 98 878 44l 635 137 2C6 964 On February 5> 1964, U* S. Government securities held in custody by the Federal Reserve Banks for foreign account were $8,729 million, a decrease of $66 million for the week and an increase of $1,676 million from the comparable Digitized fordate FRASER a year ago. H. 4 . 1 ( a ) COiil'SOLiL«!i'i-i) STATJMMT OF C0i\i)I1T0lY OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Feb. 5, 1964 A S S E T S Gold certificate account Redemption fund for E-' §. £C$§s Total gold certifyfifhfcereserves Cash Discounts and advanceg Acceptances: Bought outright Held under repurchase agreementU. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities 13,819 1,411 15,230 (Tff) L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES s* + 563 136 + 123 172 - "W + 90 64 3 - 2 + 3 + 3,852 7,066 17,729 4,645 33,292 +571 +1>19 -6,116 +7,042 + 481 +2,826" - 411 +2,415 33,375 33,865 (1,103) — - 1 - 1 fcas 83 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 11© Change since Feb. 6, Jan. 29, 1964 1963 5,400 103 610 (1,880) 55,518 --— +571 + 83 +6J4 +7^5 + 97 - 1 + 17 tM 5 7 +2,585 + 595 1 + 128 +2,757 (777) 31,262 + 80 +2,062 17,^79 +783 -212 + 7 + 9 +587 + 473 +166 - 1 +832 + 462 + 7 +2,653 635 137 206 18^57 (1,103) 4,122 80 (1,880) 53,921 - 201 - 59 - 91 + 122 C A P I T A L A C C O U N T S Capital paid in 504 + 31 + 3 Surplus — + 56 990 Other capital accounts + 22 + 17 103 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,880) 55,518 +2,757 +857 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the fol- 2.; 30.2$ lowing pages—not consolidated) • 3$ Contingent liability on acceptances purchased 8 for foreign correspondents 92 — + * Figures in parentheses are the eliminations made in the consolidating process; see_comparable figures on combined basis on the following pages. _ MATURITY DISTRIBUTION OF LOAHS AND SECURITIES, FEBRUARY 5, 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 advances Acceptances Holdings during week Within 15 days 421 +4,203 4,534 15 2 16 days to 90 days 52 2,103 -3,84l -._ 91 days to 1 year --. 15,714 + 292 -_.Over 1 year to 5 years 8,669 — Over 5 years to 10 years •s 2,136 •».. Over 10 years 219 •T54" Total 6T 33,375 w H.4-.ifb) STATEMENT OF CONDITION CF EACH FEIERAL RESERVE BANK ON FEBRUARY 5, 1964 Total Boston New York Philadelphia Cleve- RichAtlanta Chicago land mond (In millions; of dollars) St. MinneLouis apolis Kansas City 611 5h San Tallas 1 Fran1 cisco A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 1,099 747 86 833 2,31s 260 2,578 537 60 597 255 29 284 63 22 44 17 78 30 69 41 23 17 6 19 11 24 118 7 64 3 -- --. --- --- --- 995 2C6 378 949 249 316 580 261 478 643 1,^55 1,199 1,180 2,962 382 314 205 376 9^3 247 1,121 3,749 674 77 751 71 20 180 67 7 __ -- 13,819 1,411 15,230 773 80 853 3,^15 777 310 423 Elscounts and advances Acceptances: Bought outright 64 Held under repurchase agreement 3 U. 3. Government securities: Bought outright— Bills 3,852 Certificates 1 7,066 Motes 17,729 Bonds 1 4,645 Total 33,292 Held under repurchase agreement 83 F. R. notes of other Banks Other cash 193 355 &9t 23? 1,671 „ 124 989 110 1,245 70 17 192 33^ 1,842 bb<j 537 44 581 46 11 16 13 ^7 8 70 hi 6 12 12 9 — — --.- --- -— -- 155 284 713 187 151 276 693 181 1,308 76 139 3^9 92 656 500 917 776 151 278 697 182 1,339 1,301 1,825 4,580 1,200 8,600 1,782 2,733 2,252 1,771 5,561 83 -- -- -- -- __ -- -- -- — 153 1,995 2,299 602 ^,318 -- Total U. G. Government securities 33,375 1,671 8,683 1,782 2,733 2,252 1,771 5,561 1,308 656 1,339 1,301 >,318 Total loans and securities 33,865 1,678 8,942 1,788 2,752 2,263 1,795 5,679 1,315 662 1,351 1,313 ^,327 6,503 1,261 103 610 521 3 30 8 159 4c6 3 33 472 7 53 46i 5 37 536 17 33 991 22 9h 292 6 23 202 4 13 324 6 27 322 12 28 715 IC 6c 57,398 3,176 14,366 3,068 4,6l4 3,926 3,322 9,474 2,273 1,222 2,402 Cash items in process of collection Bank premises Cther assets TOTAL ASSETS 2,3H 7,C44 H. 4-1(c) STATEMENT.OF CONDITION OF EACH FEIERAL I<ESBW£ BANK OK'FEBRUARY 5, 19^4 Total Boston New York Philadelphia RichSt. mond Atlanta Chicago Lcuis Minneapolis Kansas Dallas City San Francisco (In millions of dollars) LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits referred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Contingent liability en acceptances purchased for foreign corre spondent s Cleveland 32,039 1,882 7,757 1,868 2,743 2,626 1,844 5,769 1,304 582 1,229 954 3,481 17,479 635 137 206 18,457 72U 735 23 6 6 770 1,255 32 10 1 1,298 761 54 ( 6 827 906 32 6 1 945 2,542 88 16 2 2,648 626 46 4 l 677 404 30 3 770 5,007 96 i/53 136 5,292 437 791 53 5 3 852 946 53 7 1 1,007 2,782 88 15 49 2,934 5,225 444 870 337 387 440 815 234 164 249 257 6c6 80 4 55,801 3,100 21 13,9^0 4 2,979 8 4,471 5 3,845 4 3,233 13 9,245 3 2,218 2 1,185 3 2,333 3 2,221 10 7,031 135 264 27 28 55 6 45 90 8 25 49 7 28 56 5 72 l4o 17 17 34 4 12 23 2 22 43 4 29 57 4 132 14 lh,3€6 3_p68__ _J^5l4__3i9§6__ 3,322 9,474 2,273 1,222 2,402 2 4 5 12 504 990 103 | 4o 6 24 hi 5 57,398 3,176 i 92 5 ._.._2/25 5 8 5 5 13 ___...__?_ • * 2,3H 67 7,244 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 33,844 l,94l 2,953 2,725 1,956 6,065 1,372 610 1,265 1,029 3,674 425 4 6,750 l,6co 8,400 2,029 500 605 365 1,100 120 750 1,700 5,177 6,277 500 272 11 1,100 180 2,550 2,150 3,050 2,755 250 6 1,210 900 3,200 1,466 620 1,383 1,080 3,950 1,979 8,275 6,650 433 21 28,417 1,580 35,088 2,013 1,650 1/ After deducting $ 8^ million participations of other Federal Reserve Banks, 2/ After deducting $ 67 million participations of other Federal Reserve Banks. 2,065 * Less than $500,COO,
@FedFRASER