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 January 18, 1962 H-4.1 The average of daily figures of total member bank reserves held during the week ended January 17 decreased a net of $289 million to $20,005 million- Estimated currency and coin of member banks increased $2 million and their reserve balances at the Federal Reserve Banks decreased $291 million. Estimated required reserves de­ creased $210 million; and estimated excess reserves decreased $79 million to $533 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $464 million, compared with the revised figure of $548 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $216 million in U. S. Government securities bought outright and $48 million held under repurchase agreement, $189 million in Federal Reserve float, and $44 million in gold stock, and an increase of $55 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $275 million in currency in circulation. Total Reserve Bank credit decreased $443 million. As of Wednesday, January 17, holdings of U. S. Government securities bought outright were $279 million lower than a week earlier, U. S. Government secu­ rities held under repurchase agreement were $20 million higher, and member bank borrowings were $196 million higher. Outright holdings of bills, certificates, and bonds decreased $254 million, $6 million, and $19 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 17, Jan. 10, Jan. 18, Jan. 17, and related items 1962 1962 1961 1962 0[n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 28, 501 -216 +1,553 28,421 Held under repurchase agreement 19 - 48 20 Acceptances— Bought outright 50 + 2 „ o 1 _ 47 Held under repurchase agreement - 1 Discounts and advances— Member bank borrowings 69 + 5 + 34 257 Other 20 + 5 + 11 27 Float 1,870 -189 + 462 1,636 Total Reserve Bank credit 30,529“ ^553 +2,058 30,408 Gold stock 16,839 - 44 - 755 16,840 Treasury currency outstanding 5,586 - 1 + 185 5,588 52,955 +1,489 52,836 Currency in circulation 33,386 -275 +1,099 33,241 Treasury cash holdings 44o + 6 + 28 445 Treasury deposits with F. R. Banks 435 + 55 - 93 491 Foreign deposits with F. R. Banks 232 - 8 16 218 Other deposits with F. R. Banks 292 + 31 - 97 300 Other F. R. accounts (net) l, o4o - 3 + 100 1,043 35,825 -195 +1,021 35,738 Member bank reserves: With Federal Reserve Banks 17,130 -291 + 468 17,098 Currency and coin (estimated) 2,875 + 2 + 245 3,057 Total reserves held 20,005 ^289 + 713 20,155 Required reserves (estimated) 19,472 -210 + 972 19,486 Excess reserves (estimated) 533 - 79 - 259 669 On January 17, 19&2, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,517 million, a decrease of $j6 Digitizemdi folr lFiRoAnSE Rf or the week and a decrease of $100 million from the comparable date a http://fraser.stlouisfed.org/ year ago. Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMKNT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Jan. 17, Jan. 10, Jan. l8, 1961 A S S E T S Gold certificate account 15,403 .. - 743 Redemption fund for F. R. notes 1,159 - 10 + 97 Total gold certificate reserves 16,562 - 10 - 648 * Cash (629) 430 4r 48 - 27 Discounts and advances 284 + 208 + 218 Acceptances— Bought outright 47 -- l U- S. Government securities: Bought outright-- Bills 2,932 254 + 104 Certificates 1,693 - 6 -7,367 Notes 19,984 -- +7,503 Bonds 3,812 - 19 +1,269 Total Bought outright 28, 421 - 279 +1,509 Held tinder repurchase agreement 20 + 20 + 20 Total U. S- Government securities 28,441 - 259 +1,529 Total loans and securities 28,772 51 +1,746 Cash items in process of collection (1,170) 5,774 + 568 + 728 Bank premises 111 4* 1 + 3 Other assets 279 4- 16 + 24 TOTAL ASSETS (1,799) 51,928 Hr 572 +1,828 L I A B I L I T I E S Federal Reserve notes (629) 28,250 - 251 + 959 Deposits: Member Bank reserves 17,098 4- 170 + 390 U. S. Treasurer--general account 491 - 110 + 109 Foreign 218 - 12 - 23 Other 300 + 30 - 87 Total deposits 18,107 4- 78 + 3 89 Deferred availability cash items (1,170) 4,138 4- 729 + 351 Other liabilities and accrued dividends 61 4- 1 + 28 TOTAL LIABILITIES (1,799) 50,556 4- 557 +1,727 c a p i t a l a c c o u n t s Capital paid in 447 4* 1 + 33 Surplus 888 -- + 71 Other capital accounts 37 4* 14 3 1 (1,799) 51,928 4- 572 +1,82S 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$ 2.5$ Contingent liability on acceptances purchased for foreign correspondents 118 - 102 * 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 17, 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 Within 15 days 255 10 635 - 37 l6 days to 90 days 29 37 6, 304 - 95 91 days to 1 year -- — 10,271 -127 Over 1 year to 5 years -- 8,738 -- Over 5 years to 10 years — 2,227 -- Over 10 years -- 2 66 -- Digitized for FRA T S o E t R a l 155 57 28,451 -259 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 17, 1962 H.4.l(b) San Total Boston N Y e o w rk 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 St u . is M a i po n l n i e s ­ Ka C n i s t a y s Dallas F c r i a sc n o ­ (in'millions of dollars) A S S E T S Gold certificate account 15,403 9C0 3,845 856 1,255 1,035 834 2,522 666 344 682 649 1,815 Redemption fund for F• R• notes 1,159 69 276 70 io4 91 10 210 48 27 50 37 10? Total gold certificate reserves 16,562 969 4,121 926 1,359 1,126 904 2,732 714 371 732 686 1,922 F. R. notes of other Banks 629 47 163 56 44 43 71 49 23 18 16 39 60 Other cash 430 28 90 21 34 30 34 72 22 11 13 16 59 Discounts and advances 284 1 26 3 8 12 2 146 3 1 20 17 45 Acceptances: Bought outright lf-7 -- 47 -- -- -- -- -- -- — -- -- U. S- Government securities: Bought outright-- Bills 2,932 138 725 170 249 190 l6l 501 119 63 134 119 363 Certificates 1,693 80 419 98 143 110 93 289 69 36 78 68 210 Notes 19,984 940 4,942 1,154 1,695 1,295 1,099 3,415 811 428 916 812 2,47^ Bonds 3,812 179 943 220 323 247 210 651 ___151 82 174 155 473 Total 28,421 1,337 7,029 1,642 2,410 1,842 1,563 4,856 1,154 609 1,302 1,154 3,523 Held under repurchase agreement 20 .. — 20 - - -- ~ - - - pm •"* Total U. S. Government securities 28,441 1,337 7,049 1,642 2,410 1,842 1,563 4,856 1,154 609 1,302 1,154 3,523 Total loans and securities 28,772 1,338 7,122 1,645 2,4l8 1,854 1,565 5,002 1,157 610 1,322 1,171 3,568 Cash items in process of collection 6,944 497 1,449 420 536 470 535 1,172 279 204 333 278 771 Bank premises 111 4 9 4 8 6 l4 24 7 5 6 13 11 Other assets 279 13 69 16 24 17 16 47 11 5 l4 12 35 TOTAL ASSETS 53,727 2,896 13,023 3,o88 4,423 3,546 3,139 9,098 2,213 1,224 2,436 2,215 6,42 6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF OONDmON OF EACH FEDERAL RESERVE BANK ON JANUARY 1?,' 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) L I A B I L I T I E S Federal Reserve notes 28,879 1, 687 6,619 1,868 2, 592 2, 338 1,678 5,308 1, 254 575 1,182 854 2,924 Deposits: Member bank reserves 17,C98 671 4,720 752 1,196 727 881 2,630 6b 3 423 884 996 2,575 U.S. Treasurer-general account 491 38 73 36 25 46 34 29 36 21 42 35 76 Foreign 218 10 1/62 13 20 10 11 30 7 5 9 12 29 Other 300 * 243 1 1 b 2 2 4 * 1 2 4o Total deposits l8,107 719 5,098 802 1, 242 787 928 2,691 690 bb9 936 1,045 2,720 Deferred availability cash items 5,308 422 916 336 456 355 457 895 219 168 258 237 589 Other liabilities and accrued dividends 6l 3 16 3 5 3 3 11 3 1 2 3 8 TOTAL LIABILITIES 327355" 37531- 12, bbT 3,009 ' 4,295“~ 3 7 W 3,066 «, 905 2,166 1,193 2, 378” 2,139 6,241" CAPITAL ACCOUNTS Capital, paid in 1^7 21 122 26 b2 20 2b 63 15 10 19 25 60 Surplus 888 42 2k3 51 83 40 47 12b 31 20 37 50 120 Other capital accounts 37 2 9 2 3 3 2 6 1 1 2 1 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,727 2,896 13,023 3,088 4, 1+23 3, 546 3,139 9,098 2, 213 1, 224 2,436 2, 215 6,426 Contingent liability on accept­ ances purchased for foreign correspondents 118 6 2/32 7 11 5 6 16 b 3 5 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,3?5" 1,750 6,981 1,943— 2,765 “ 27437“ 1,769 .$]W T 1,322 lV 218“ 929 3,686 Collateral for F. R. notes: Gold certificate account 8,375 585 l, 600 570 770 755 475 l, 500 4oo 160 325 235 1, 000 Eligible paper 22 -- -- 1 -- -- -- 2 -- 19 — — U. S. Government securities 23, 075 1, 235 5,600 1,500 2, 050 1,715 l, 4oo 4,100 960 510 950 755 2, 300 Total collateral 31, 472 1, 820 7,200 2, 071 2, 820 2,470 1,875 5,600 1, 362 670 1,294 990 3,300 1/ After deducting $156 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 86 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis