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 25, 1962 Ttoe average of daily figures of total member "bank reserves held during the ■week ended January 24 decreased $98 million to $19,957 million. Estimated currency and coin of member hanks decreased $62 million and their reserve balances a e Federal Reserve Banks decreased $36 million. Estimated required reserves ecrease $163 million; and estimated excess reserves increased $65^million to $671 million. Excess reserves exceeded member hank borrowings at the Federal Reserve ®'n^s 7 $627 million, compared with the revised figure of $537 million the week e ore. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $222 million in U. S. Government securi les oug outright and $19 million held under repurchase agreement, $25 million m mem er bank borrowings, and $81 million in Federal Reserve float. The principal offsetting change was a decrease of $316 million in currency in circulation. To a eserve Bank credit decreased $344 million. As of Wednesday, January 24, holdings of U. S- Government securities bought outright were $286 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $20 million lower, and member tank borrowings were $l64 million lower. Outright holdings of bills an cer 1.ic decreased $273 million and $13 million, respectively. Averages of daily figures Wednesday, Member bank reserves, Week ended Obanne from week ended Reserve Bank credit, Jan. 24, Jan. ITy Jan. 25, Jan. 24, and related items 1962 1962 1961 ' 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 28,279 "222 +1,458 28,135 Held under repurchase agreement - 19 45 Acceptances--bought outright 49 - 1 Discounts and advances-- Member bank borrowings 4k - 25 3 93 Other 28 + 8 + 18 32 Float l, 786 - 84 + 263 1, 240 Total Reserve Bank credit 30,185 -344" +1,735 29,5]3 Gold stock 16,839 - 651 16,840 Treasury currency outstanding 5,589 + 3 + 187 5, 589 52^13 -342 +1,271 51,974 Currency in circulation 33,070 -316 +1,106 32,904 Treasury cash holdings 442 + 2 + 25 446 Treasury deposits with F. R. Banks 439 + 4 - 68 557 Foreign deposits with F. R. Banks 220 - 12 - 25 209 'Ocher deposits with F. R. Banks 305 + 13 - 87 312 Other F. R. accounts (net) 1,043 + 3 * 101 l, o4l -306 +1,052 357459 35,519 Member bank reserves: With Federal Reserve Banks 17,094 - 36 + 219 16,505 Currency and coin (estimated) 2,863 - 62 + 271 3,081 Total reserves held 19,957 7-95 + 490 197556 Required reserves (estimated) 19,286 -163 + 823 19,261 Excess reserves (estimated) 671 + 65 - 333 825 On January 24, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,452 million, a decrease of $65 million for the week and a decrease of $272 ai-VLioa from the comparable date Digitized for FRASER http://fara syere.satlrou isafegdo.o.rg/ 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. 24, Jan. if, Jan. 25, 1962 1962 1961 A S S E T S Gold certificate account 15, 413 + 10 - 677 Redemption fund for F. R. notes 1,156 3 + 96 Total gold certificate reserves 167569 + 7 - 581 * Cash (697) 461 + 31 - 38 Discounts and advances 125 - 159 + 57 Acceptances--"bought outright 45 2 2 U. S. Government securities: Bought outright-- Bills 2,659 - 273 - 35 Certificates 1,680 - 13 -7,370 Notes 19,984 — +7,516 3,812 — +1,277 Bonds Total "bought outright 28,135 - 266 +1,388 20 -- Held under repurchase agreement Total U. S. Government securities 28,135 - 366 +1,388 Total loans and securities 28,305 - 467 +1,443 Cash items in process of collection (1,09*0 4,882 - 892 + 6l4 Bank premises ill — + 3 300 + 21 + 29 Other assets TOTAL ASSETS (1,791) 50,628 -1, 300 +1,470 L I A B I L I T I E S Federal Reserve notes (697) 27,951 - 299 + 924 Deposits: Member bank reserves 16,505 - 593 + 132 U. S. Treasurer--general account 557 + 66 + 44 Foreign 209 9 - 52 Other 312 + 12 - 90 Total deposits 17, 583 7 525 + 34 Deferred availability cash items 11,09*0 3,642 - 496 + 380 Other liabilities and accrued dividends 63 + 2 + 30 TOTAL LIABILITIES (1,791) 49,239 -1,317 +1,368 C A P I T A L A C C O U N T S Capital paid in 447 — — + 31 Surplus 888 + 71 — Other capital accounts " 54 + 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTSi(1,791) 50,628 -1,300 +1,470 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ - 2.: lowing pages--not consolidated) 35*8$ Contingent liability on acceptances purchased 98 for foreign correspondents H5 __ * 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 24, 1962 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maxim-urn maturity of the agreements.) U. S. Government securities Changes Discounts and advances Acceptances Holdings during week Within 15 days 97 8 616 - 19 16 days to 90 days 28 37 6,096 -208 91 days to 1 year * __ 10,192 - 79 Over 1 year to 5 years - - 8,738 Over 5 years to 10 years —— 2, 227 Over 10 years — 266 7306 Digitized for FRATSoEtRa l 125 S5 28,135 http://fras*e r.stLloeuissfse d.torhga/ n $500,000. Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 24, 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 dol]_ars~5 A S S E T S Gold certificate account 15, his 891 3,923 822 1, 285 1,006 776 2,575 594 321 593 620 2,007 Redemption fund for F. R. notes 1,156 69 275 70 10k 90 70 210 48 26 50 37 107 Total sold certificate reserves 16,569 966 4", 198 892 1, 389 1,096 846" 2,785 642 3?7 643 657 2,114 F. R. notes of other Banks 697 50 183 63 53 47 81 55 28 22 19 45 51 Other cash 46l 30 95 25 39 31 38 77 23 12 14 17 60 Discounts and advances 125 6 21 6 11 15 6 31 8 2 12 1 6 Acceptances: Bought outright 45 -- 1*5 -- — -- -- -- - - “ - - — ** — U. S. Government securities: Bought outright— Bills 2,659 125 658 154 225 172 146 454 108 57 122 108 330 Certificates 1,680 79 1*16 97 ll*3 109 92 287 68 36 77 68 208 Notes 19,984 9*K) 1*, 91*2 1,151* 1,695 1,295 1,099 3,415 811 428 916 812 2, 477 Bonds 3,812 179 9*6 220 323 247 210 651 155 82 174 155 473 Total 28,135 l, 323 “6,959 1, 625 2, 386 1,823 1,557 4,807 1,jP*2 603 1,289 1,153" Held under repurchase agreement -- -- -- -- — — -- -- -- -- -- Total U. S. Government securities 28,135 1,323 6,959 1,625 2,386 1,823 1, 547 4,807 1,142 603 1,289 l, 153 3,488 Total loans and securities 28, 305 1,329 7,025 1,631 2,397 1,838 1,553 4,838 1,150 605 1,301 1,144 3,494 Cash items in process of collection 5,976 1*29 1,143 371* 1*64 422 475 938 253 178 324 297 679 Bank premises 111 4 9 4 8 6 14 24 7 5 6 13 11 Other assets 300 14 75 17 25 19 17 51 12 5 15 13 37 TOTAL ASSETS 52, b±9 2,8l6 12,728 3,006 4,375 3,459 3,024 8,768 2,115 1,174 2, 322 2,186 6,446 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF Condition OF EACH FEDERAL RESERVE RANK ON JANUARY 24, 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 dol]Lars) L I A B I L I T I E S Federal Reserve notes 28,648 1,673 6,570 1,852 2,574 2,314 1,653 5,270 1,243 571 1,172 847 2,909 Deposits: Member "bank reserves 16,505 650 4,553 713 1,197 703 844 2,458 593 397 796 954 2,647 U.S. Treasurer-general account 557 31 62 44 42 31 35 67 27 27 43 45 103 Foreign 209 10 1/53 13 20 10 11 30 7 5 9 12 29 Other 312 1 259 1 1 3 1 2 * 1 ■■ 2 1 4o Total deposits 17,583" 692 4,927 771 1,260 w r 89T 2,557 627 436“ 550“ 1,012 2,819 Deferred availability cash items 4,736 383 838 299 405 330 403 735 195 l4o 238 247 523 Other liabilities and accrued dividends 63 3 15 4 6 4 3 10 2 2 3 3 8 TOTAL LIABILITIES 51,030 2,751 12,350 2,926 4,245 3,395 2,950 8,572 2,067 1,143 2,263 2,109 6,259 Capital accounts Capital paid in 447 21 122 26 42 20 24 63 15 10 19 25 60 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 54 2 13 3 5 4 ..3. 9 2 1 3 2 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,419 2,816 12,728 3,006 .A.375 3,024 8,768 2,115 1,174 2,322 2,186 6,446 Contingent liability on accept­ ances purchased for foreign correspondents u5 5 2/32 7 11 5 6 16 4 3 5 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,197 i 7 W ~ 6,946"- 1,930 2,758 2,420 1,755 5,458 1,315 658“ 1,210 925 3,074 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 22 -- — 4 -- -- — -- 7 -- 11 -- U. S. Government securities 23,075 1,235 5,600 1,500 2,050 1,715. 1,400 4,100 960 510 950 755 2,300 Total collateral 31,472 1,820 7,200 2,074 2,820 2,470 1,875 5,600 1,367 670 1,286 990 3,300 1/ After deducting $156 million participations of other Federal Reserve Banks. * Less than $500,000 Digitized f2or/ F RAAfStEeR r deducting $ 83 million participations of other Federal Reserve Banks, http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis