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 Condition Statement of F.R. Banks For immediate release H.4.1 January 11, 1962 The average of daily figures of total member bank reserves held during the week ended January 10 decreased $533 million to $20,267 million- Estimated currency and coin of member banks decreased $214 million and their reserve balances at the Federal Reserve Banks decreased $319 million. Estimated required reserves decreased $415 million; and estimated excess reserves1 decreased $118 million to $6o6 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $542 million, compared with the revised figure of $383 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $l44 million in U. S. Government securities held under repurchase agreement, $277 million in member bank borrowings, and $296 million in Federal Reserve float. The principal offsetting changes were decreases of $255 million in currency in circulation, $6l million in Treasury deposits with Federal Reserve Banks, and $50 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $723 million. As of Wednesday, January 10, holdings of U. S. Government securities bought outright were $49 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $184 million lower, and member bank borrowings were $182 million lower. Outright holdings of hills and bonds decreased $34 million and $15 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Jan. 10, Jan* 3> <Jan • 11; Jan. 10, and related items 1962 1962 1961 1962 ----------n [n millions of dollars) Reserve Bank credit: U. S. Government securities— 28,700 Bought outright--System account 28,717 - 3 +1,731 Held under repurchase agreement 67 -144 - 71 "" Acceptances-- Bought outright 48 -- 4 47 Held under repurchase agreement l - 3 5 Discounts and advances— Member bank borrowings 64 1 OJ t + 13 6l Other 15 -- + $ 15 Float 2,059 -296 + 709 1,797 Total Reserve Bank credit 30,972 -723 +2,380 307620 Gold stock 16,883 - 6 - 746 l6,84o Treasury currency outstanding 5,587 — + 188 5,587 53,441 -730 +1,822 53,047 Currency in circulation 33,661 -255 +1,024 33,533 Treasury cash holdings 434 — + 31 44l Treasury deposits with F. R. Banks 380 - 61 - 33 601 Foreign deposits with F. R. Banks 240 - 50 + 1 230 Other deposits with F. R. Banks 261 - 36 - 120 270 Other F. R. accounts (net) 1,043 - 10 + 102 36,020 -4n +1,006“ 36,119 Member bank reserves: With Federal Reserve Banks 17,421 -319 + 8l6 16,928 Currency and coin (estimated) 2,846 -214 + 225 3,152 Total reserves held 20,267 -533 +1, o4i 20,680 Required reserves (estimated) 19,661 -415 +1,007 19,566 Excess reserves (estimated) 606 -118 + 3^ 514 On January 10, 1962, U. S. Government securities held in custody by the Federal Reserve. Banks for foreign account were $5,593 million, a decrease of $420 Digitimzeidl folri FoRnA SEfRo r the week and an inci-ease o±‘ $95- million .from the -ocmparel>le date a http://yfreasaerr. staloguois.fed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATE# STATEMENT OF; CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Jan. 10, Jan. 3, Jan. 11, 1962 1962 1961 A S S E T S Gold certificate account 15,403 - 42 - 850 Redemption fund for F. R« notes 1,169 1 + 105 Total gold certificate reserves 16,572 - 43 - 7^5 * (584) 382 + 59 - 31 Cash Discounts and advances 76 - 182 + 7 Acceptances: 1 Bought outright 47 -- Held tinder repurchase agreement -- 3 mm «* U. S. Government securities: Bought outright-- Bills 3,186 - 34 + 279 Certificates 1,699 -- -7,361 Notes 19,984 -- +7,503 Bonds 3,831 - 15 +1,288 Total "bought outright 28,700 - 49 +1,709 Held under repurchase agreement - 184 - 13 Total U. S. Government securities 28,700 - 233 +1,696 28,823 - 4l8 +1,702 Total loans and securities Cash items in process of collection (889) 5,206 -1,149 + 685 110 -- + 2 Bank premises 263 + 14 + 25 Other assets TOTAL ASSETS (1,473) 517355 -1,537 +1,638 L I A B I L I T I E S Federal Reserve notes (584) 28,501 - 244 + 925 Deposits: Member hank reserves 16,928 - 878 + 676 U. S. Treasurer--general account 601 + 240 + 43 230 - 126 - 26 Foreign Other 270 9 - 109 Total deposits 18,029 - 773 + 5B4 Deferred availability cash items (889) 3,409 - 535 3 Other liabilities and accrued dividends 60 4 + 29 TOTAL LIABILITIES (1,473 ) 49,999 -1,5!?6 +1,535 C A P I T A L A C C O U N T S Capital paid in 446 + 33 Surplus 888 -- + 71 Other capital accounts 23 + 19 1 1(1,473) 51,356 -l*537 +1,638 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) 35-2# - 2 A Contingent liability on acceptances purchased for foreign correspondents 121 - 100 * Figm-t=>p 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 10, 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 Changes Discounts and advances Acceptances Holdings during week _ g-_- Within 15 days ----5o 12 - 90 16 days to 90 days 16 35 6,399 -100 91 days to 1 year 10,398 - 43 Over 1 year to 5 years 8,738 Over 5 years to 10 years 2,227 DigitizedO vfoer FrR A1S0E Ry ears 265 http://fraser.stlouisfed.org/ 28,700 -233 Total 75 Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 10, 1962 Total -i. Bo * s -- t -- o -- n — N Yo e r w k de P l h p i h l i a a ­ C l l a e n v d e - m R o i n c d h­ Atlanta Chicago Lo S u t. i s a M p i o n l n i e s - Ka Ci n t s y a - s Dallas Fr S a a n n cisco A S S E T S (In millions of dollars) Gold certificate account Re T d o e t m a p l t io g n ol d f u c n e d rt f i o f r i c F. a te R . re n s o e t r e v s e s 1 1 6 5 1 , , ^ ^ 5 1 0 T 6 2 3 9 - 9 9 9 6 2 , 8 9 2_ 4 3 , , 0 7 2 3 7 6 9 8 1 ..... 8 94 7 7 5 4 1 ____ 1 1 _ , _ , 4 1 3 9 8 P 2 7 5 _ 1 1 , , 1 0 4 5 9 4 4 0 8 7 3 6 7 9 8 l 2 2 , , 7 5 2 3 4 1 5 7 2 6 6 4 7 2 4 8 6 3 3 7 5 2 8 1 7 6 6 9 4 5 4 4 0 6 5 O 1 7 6 9 I 2 1 , , 0 ± 8 1 0 U 0 9 6 7 9 ( F- R. notes of other Banks Other cash 3 5 8 84 2 2 3 3 8 14 7 5 6 1 5 7 0 3 3 0 9 4 26 2 3 7 0 2 6 ^5 6 2 2 1 2 1 1 0 7 1 1 2 9 3 16 ^ 61 55 • Discounts and advances Acceptances : 76 2 8 5 2 7 13 21 6 3 5 1 Bought outright 47 — 47 — U-. £ Government securities: -- -- - - . Bought outright— 3111 s - B C R o e o n r t d t e s i s ficates 19 1 3 , , ,1 9 6 8 8 9 6 4 9 9 1 8 4 3 0 0 0 4,9 4 7 4 2 8 2 0 8 1,1 1 5 8 9 4 8 4 1,6 1 2 9 4 7 5 4 0 1,2 2 1 9 1 0 5 0 7 1,0 1 9 7 9 9 5 4 3,4 2 5 1 9 4 5 0 4 8 1 1 2 6 1 9 9 42 3 6 8 6 9 9 1 1 4 7 6 6 8 8 1 1 6 2 2 9 9 3 2 9 1 5 1 Held T o u t n a de l r repurchase agreement _ <p~A 3 0 , y 8 7fU 3 nUn 1 17 /30 1 5 8 r- 0r 0 \ 7,0 9 9 4 8 8 1,6 2 5 2 7 1 2,4 3 3 25 4 1,8 2 6 4 0 8 1,5 2 7 1 8 0 4,9 6 0 5 4 5 1,1 1 6 5 5 6 6 8 15 2 1,3 1 1 7 5 5 ljl 1 6 56 6 3 2 , , 5 2 4 i 5 7 7 8 q 7 Total U. S. Government securities 28,700 1,350 7,098 2,434 1,860 1,578 4,904 1 on u OJ-9 -L y ..3,5.98 Total, loans and securities 28,823 1,352 7,153 1,662 2,436 1,867 1,591 4,925 1,171 618 1,320 1,167 3,561 Cash items in process of collection B O a t n h k er p T O r a T e s A m s L i e s t A s e S s S ETS 6, 2 0 1 6 9 1 3 0 5 44 1 3 2 4 1, - 3 . 3 6 5 5 9 . 3 .1 1 4 1 5..... 44 21 8 6 39 1 8 7 6 . 4 1 6 1 5 3 4 9 4 2 5 5 4 5 26 ll 3 7 —____ 1 __ 8 S 5 5 7 — 32 11 4 6 2 J 1 1 4 — 3 1 9 L . . 7 j 1 2 j 1 0 52,829 2,870 12,822 3,oo4 4,472 3,500 3,024 8,807 2,169 1,220 2,388 2,106 6,447 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 10, 1962 H-4.l(c) 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) L I A B I L I T I E S Federal Reserve notes 29, 085 1,698 6,668 1,878 2,609 2, 36O 1,695 5,333 1, 263 578 1,189 861 2,953 Deposits: Member bank reserves 16,928 678 4, 677 703 1,306 730 852 2,495 628 430 862 920 2,647 U.S. Treasurer-general account 601 46 112 42 38 36 57 60 33 32 43 38 64 Foreign 230 11 1/ 67 13 21 10 12 31 8 5 9 13 30 Other 270 * 217 1 1 6 1 1 * * 2 1 40 Total deposits 18,029 735 5,073 759 1, 366 782 922 2, 587 669 4W 9l6 972 2,781 Deferred availability cash items 4,298 371 696 285 365 293 332 68 6 188 142 223 195 522 Other liabilities and accrued dividends 60 2 14 4 5 3 3 11 2 2______ 1 2 9 TOTAL LIABILITIES 51,472 2,806 127551" 2,926 "5,355 3,438 2,952 8,617 2,122 1,189 2, 331 2, 030 6,265 CAPITAL ACCOUNTS Capital paid in 446 21 122 26 b2 20 2b 62 15 10 19 25 60 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 23 1 6 l 2 2 l 4 1 1 1 1 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,829 2,870 12, 822 3,004 4,1*72 3,500 3,024 8,807 2,169 1,220 2,388 2,106 6,447 Contingent liability on accept­ ances purchased for foreign 16 correspondents_______________ 121 6 iL n 7 11 6 6 17 4 3 5 7 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30, 456 1,756 7,013 1,949 2,777 2, 452 1,776 5,503 1,323 656 l, 219 933 3,099 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 l4 4 6 4 U. S. Government securities 23,A0t7 I-5VL 1,235 5,600 1,500 2,050 1,715 i,4oo 4,100 960 510 950 755 2,30c Total collateral 31,464 l, 820 7, 200 2, 074 2, 820 2,470 1,875 5,600 1,366 670 1,279 990 3,300 * Less than $500, 000. Digitize2d/ fo rA FfRtAeSErR deducting $ 88 million participations of other Federal Reserve Banks http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis