H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Factors Affecting Bank Reserves and Coaditioa Slotemeat of f.R. looks For intneilate release E.4.1 January 4, 1962 The average of daily figures of total member bank reserves held during the -week ended January 3 increased $390 million to $20,736 million. Estimated currency and coin of member banks increased $156 million and their reserve balances at the Federal Reserve Banks increased $23*+ million. Estimated required reserves increased $201 million; and estimated excess reserves increased $189 million to $746 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $405 million, compared with the revised figure of $34l million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $163 million in U. S. Government securities held under repurchase agreement and $125 million in member bank borrowings, and decreases of $255 million in currency in circulation, $70 million in Treasury deposits with Federal Reserve Banks, and $53 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $125 million in U. S. Government securities bought outright and $171 million in Federal Reserve float, and increases of $83 million in foreign deposits with Federal Reserve Banks and $59 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $10 million. As of Wednesday, January 3* holdings of U- S. Government securities bought outright were $44 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $63 million lower, and member bank borrowings were $294 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 3, Dec. 27, Jan. 4, Jan. 3, and related items 1962 1961 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 28,720 -125 +1,736 28, 749 Held under repurchase agreement 211 +163 - 180 184 Acceptances-- Bought outright 48 + 1 4 47 Held under repurchase agreement 4 + 4 16 3 discounts and advances-- Member bank borrowings 341 +125 + 165 243 Other 15 + 13 + 7 15 Float 2,355 -171 + 566 2,4ll Total Reserve Bank credit 31,695 + 10 +2. 275 31,652 Gold stock 16,889 __ - 859 16,890 Treasury currency outstanding 5,587 + 3 + 189 5,587 5iG 171 + 13 +1)1565 54,129 Currency in circulation 33,916 -255 +1,063 33,836 Treasury cash holdings 434 + 13 + 35 448 Treasury deposits with F. R. Banks 44l - 70 -- 361 Foreign deposits with F. R. Banks 290 + 83 + 45 356 Other deposits with F. R. Banks 297 + 59 - 176 279 Other F. R. accounts (net) 1,053 - 53 + 99 , l, 043 36,431 -222 +1,668 36,323 Member bank reserves: With Federal Reserve Banks 17,740 +234 + 538 17,806 Currency and coin (estimated) 2,996 +156 + 254 3>io6 Total reserves held 20,736 +396 + 792 20,912 Required reserves (estimated) u * , 19,990 +201 +1,060 19,939 Excess reserves (estimated) W i ' ;' 746 +189 - 268 °73 On January 3, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,013 million, a decrease of $98 Digitimzeidl folri FoRnA SEfRo r the week and an increase of $422 million from the comparable date a http://yfreasaerr. staloguois.fe d.org/ ! 1(96311 Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Jan. 3, Dec. 27, Jan. 4, 1962 1961 1961 A S S E T S Gold certificate account 15,445 - 11 - 871 Redemption fund for F* R. notes 1,170 4* 11 + 104 Total gold certificate reserves 16,615 -- - 767 * Cash (512) 323 4“ 36 - 39 Discounts and advances 258 - 294 + 160 Acceptances: 1 Bought outright 47 Held under repurchase agreement 3 -- 11 U. S. Govez-nment securities: Bought outright— Bills 3, 220 44 + 320 Certificates 1,699 -7,361 Notes 19,984 +7,503 Bonds 3,846 +1,303 Total Bought outright 23,749 - 44 +1,765 Held under repurchase agreement 184 - 63 - 37 Total U. S. Government securities 28,933 *“ 107 +1,728 Total loans and securities 29,24l - 4oi +1,876 Cash items in process of collection (1,277) 6,355 + 429 +1,154 Bank premises no + 2 Other assets 249 + 19 + 29 TOTAL ASSETS (1,789) 52,893 4- 83 +2^255 L I A B I L I T I E S Federal Reserve notes (512) 28,745 - 287 + 881 Deposits: Member bank reserves 17,806 - 78 + 691 U. S. Treasurer— general account 361 4- 97 + 49 Foreign 356 + 119 + io4 Other 2? 9 + 12 - 102 Total deposits 13,802 4-"'' 150 + 745 Deferred availability cash items (1,277) 3,944 4- 267 + 497 Other liabilities and accrued dividends 64 - 15 + 34 TOTAL LIABILITIES (1,277) 51,555 4- 115 +2,155 C A P I T A L A C C O U N T S Capital paid in 446 4* 1 + 35 Surplus 888 + 71 + 71 Other capital accounts 4 - io4 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,789) 52,893 4. 83 +2,255“ Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the following pages— not consolidated) 34.6$ - 2.8$ Contingent liability on acceptances purchased for foreign correspondents 124 - 1 - 101 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages.________________ ^ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 3, 1962 (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 242 15 762 +132 l6 days to 90 days 16 35 6,499 -183 91 days to 1 year -- 10,44l - 56 Over 1 year to 5 years -- -- 8,738 -- Over 5 years to 10 years -- -- 2, 227 Over 10 years -- -- 266 -- Digitized for FRASER http://fraser.s T tlo o u t is a fe l d.org/ 25S 50 28,933 -107 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 3. 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (in millions of dollars) A S S E T S Gold certificate account 15,445 921 3,788 829 1,382 982 800 2,516 663 331 626 735 1,872 Redemption fund for F. R. notes 1,170 69 278 72 105 95 71 212 48 27 50 36 107 Total gold certificate reserves 16,615 990 4,066 901 1,487 1,077 871 2,728 711 358 676 771 1,979 F. R. notes of other Banks 512 34 110 42 35 39 65 42 21 17 16 31 60 Other cash 323 19 55 13 26 23 26 58 19 9 11 14 50 Discounts and advances 258 1 115 17 1 6 3 11 36 * 13 48 7 Acceptances: Bought outright 47 — « «. _ - _ -- 47 Held under repurchase agreement 3 -- 3 -- -- -- -- -- — -- U. S. Government securities: Bought outright— Bills 3,220 151 797 186 273 209 177 550 131 69 147 131 399 Certificates 1,699 80 420 98 144 110 94 290 69 36 78 69 211 Notes 19,984 940 4,912 1,154 1,695 1,295 1,099 3,415 811 428 916 812 2,477 Bonds 8,646 181 951 222 326 250 211 ...657.. 156 83 176 156 477 Total 28,749 1,352 7,110 1,660 2,438 1,064 1,581 4,912 1,167 616 1,317 1,168 3,564 Held under repurchase agreement 184 - - 184 -- -- -- -- -- -- -- -- -- Total U. S. Government securities 28,933 1,352 7,294 1,660 2,438 1,864 1,581 4,912 1,167 616 1,317 1,168 3,564 Total loans and securities 29,241 1,353 7,459 1,677 2,439 1,870 1,584 4,923 1,203 616 1,330 1,216 3,571 Cash items in process of collection 7,632 487 1,667 446 658 536 649 1,112 322 207 359 367 822 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 249 11 62 14 20 16 15 43 10 5 12 11 30 TOTAL ASSETS 54,682 2,898 13,428 3,097 4,673 3,567 3,223 8,930 2,293 1,217 2,410 2,423 6,523 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H A.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 3> 19^2 l San New Phila­ Cleve- Rich­ St. Minne- Kansas Total |Boston Atlanta Chicago Dallas iFran­ York delphia land mond Louis apolis City jcisco i (In millions of dollars) L I A B I L I T I E S | Federal Reserve notes 29,257 1l, 705 6,727 1,888 2, 622 2, 374 1,712 5, 355 1, 270 578 1,193 869 2,964 Deposits: Member bank reserves 17,806 j 703 4,997 760 1, 343 724 880 2, 520 695 425 851 1,142 2,766 U.S. Treasurer-general account 361 I 23 87 25 22 19 18 50 29 21 27 5 35 Foreign 356 ; 17 1/101 21 33 16 19 50 12 8 15 21 43 Other 279 l 222 2 1 4 1 1 1 * 4 2 4o Total deposits 157802 ' 754 5,407 --- 805~ 1, 399 753" 918“ 2,521 737 454 897 1,170 2,864 Leferred availability cash items 5,221 ; 384 911 321 521 365 519 756 237 152 260 307 488 Other liabilities and accrued dividends 64 , 2 16 3 6 4 3 11 3 3 4 2 7 TOTAL LIABILITIES 53,344' 2,535 13,651 3, 020 '‘4,"5'45 3 , W 3,152 “ 5/743 2,25T~ 1,167. 2, 354 2,348 6,343 i CAPITAL ACCOUNTS ! i Capital paid in kk6 21 122 26 42 20 24 62 15 10 19 25 60 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 4 * 2 * * 1 * l * * * * * TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5k, 682 2, 898 13, 428 3,097 4,673 3,567 3,223 8,930 2, 293 1,217 2, 410 2,423 6,523 Contingent liability on accept­ ances purchased for foreign correspondents 124 ! 6 2/35 7 12 6 7 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,560 1,763 7,037 1,958 2,78 6 2, 454 1,789 5,521 1,330 659 1,226 924 3,H3 Collateral for F. R. notes: Gold certificate account 8,375 585 1,600 570 770 755 475 1, 500 4oo 160 325 235 1, 000 Eligible paper 64 -- -- 16 — -- — 36 12 -- - - U. S. Government securities 23,025 1,235 5,600 1,500 2, 050 1,715 i,4oo 4,100 960 510 950 705 2, 300 Total collateral 31,464 1,820 7,200 2, 086 2, 820 2, 470 1,875 5,600 1,396 670 1,287 94o 3,300 l/ After deducting $255 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 89 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis