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.i February 1, 1962 The average of daily figures of total member bank reserves held during the week ended January 31 decreased $249 million to $19,721 million. Estimated currency and coin of member banks decreased $37 million and their reserve balances at the Federal Reserve Banks decreased $212 million. Estimated required reserves decreased $35 million; and estimated excess reserves decreased $214 million to $484 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $424 million, compared with the revised figure of $654 million the week before. The principal change reducing average reserve balances with Federal Reserve Banks was a decrease of $559 million in Federal Reserve float. The principal offsetting changes were increases of $31 million in U. S. Government securities bought outright and $l6 million in member bank borrowings, and decreases of $278 million in currency in circulation and $15 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $507 million. As of Wednesday, January 31, holdings of U. S. Government securities bought outright were $397 million higher than a week earlier and member bank bor­ rowings were $l4 million lower. Outright holdings of bills and notes increased $373 million and $24 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 31, Jan. 24, Feb. 1, Jan. 31, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 28,310 + 31 +1,728 28,532 Held under repurchase agreement -- -- 18 -- Acceptance s — b ought outright 46 - 3 2 45 Discounts and advances-- Member bank borrowings 60 + 16 6 79 Other 34 + 6 + 25 50 Float 1,227 -559 + 96 906 Total Reserve Bank credit 29,678 -507 4 +17825 29,612 Gold stock 16,832 - 7 - 609 16,815 Treasury currency outstanding 5,590 + 1 + 188 5,584 52,100 -513 +1,4o4 52,Oil Currency in circulation 32,792 -278 +1,016 32,764 Treasury cash holdings 451 + 9 + 29 454 Treasury deposits with F. R. Banks 424 - 15 86 362 Foreign deposits with F. R. Banks 213 - 7 l4 229 Other deposits with F. R. Banks 296 - 9 - 97 2 8b Other F. R. accounts (net) 1,042 - l + 91 l,o44 35,218 -301 + 939 35,139 Member bank reserves: With Federal Reserve Banks 16,882 -212 + 465 16,872 Currency and coin (estimated) 2,839 - 37 + 293 3,014 Total reserves held 19,721 -249 + 758 19,886 Required reserves (estimated) 19,237 - 35 + 822 19,272 Excess reserves (estimated) 484 -214 - 64 6l4 On January 31, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,403 million, a decrease of $49 million for the week and a decrease of $4o4 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) ______Change since Jan. 31, Jan. 24, Feb. 1, 1962 1962 1961 A S S E T S Gold certificate account 15,388 - 25 - 694 Redemption fund for F. R. notes 1; 154 - 2 + 96 Total gold certificate reserves 16,542 - 27 - 598 Cash (692) 483 4“ 22 - 35 Discounts and advances 129 + 4 - 59 Acceptances--bought outright 45 — 1 U. S. Government securities: Bought outright-- Bills 3,032 + 373 + 508 Certificates 1,680 -- -7,365 Notes 20,008 + 24 +7,542 Bonds 3,812 -- +1,277 Total bought outright 287532 + 397 +1,982 Held under repurchase agreement — -- - 125 Total U. S. Government securities 28,532 4- 397 +i,837 Total loans and securities 28,706 + 4oi +1,777 Cash items in process of collection (1,055) 4,405 - 477 + 185 Bank premises ill — + 3 Other assets 317 4- 17 + 107 TOTAL ASSETS (i,?47) 50,564 - +1/439 L I A B I L I T I E S Federal Reserve notes (692) 27,844 - 107 + 850 Deposits: Member bank reserves 16,872 + 367 + 499 U. S. Treasurer--general account 362 - 195 - 94 Foreign 229 + 20 + 4 Other 286 - 26 - 94 Total deposits 17,749 + 166 + 315 Deferred availability cash items (1,055) 3,499 - 143 + 138 Other liabilities and accrued dividends 69 + 6 + 37 TOTAL LIABILITIES (1,747) 49,181 - 78 +1,340 C A P I T A L A C C O U N T S Capital paid in 448 4- 1 + 30 Surplus 888 — + 71 Other capital accounts 67 + 13 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,74-7) 50,584 - 6k +1,439 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ lowing pages--nct consolidated) 35.7$ - .1$ - 2.3# Contingent liability on acceptances purchased for foreign correspondents 120 + 5 - 75 * 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 31. 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 78 8 5, 500 +4,884 l6 days to 90 days 51 37 1,408 -4,688 91 days to 1 year 10,380 + 188 - - — Over 1 year to 5 years 8,751 + 13 - - Over 5 years to 10 years 2, 227 - - - - Over 10 years 266 - - - - - - Digitized foTr oFtRAaSlER 129 45 28,532 + 397 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 31, 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) A S S E T S Gold certificate account 15,6.88 865 4,126 798 1,255 l,04l 768 2,691 576 333 593 551 1,791 Redemption fund for F. R. notes 1,154 69 274 70 104 89 69 210 49 26 50 37 107 Total gold certificate reserves 16,542 934 4,4oo 868 1,359 1,130 837 2,901 625 359 643 588 1,898 F. R. notes of other Banks 692 51 186 65 58 38 78 58 28 23 16 46 45 Other cash 483 34 105 27 40 31 39 80 23 12 14 18 60 Discounts and advances 129 6 19 6 10 12 10 20 11 2 16 3 14 Acceptances: Bought outright 45 -- 45 -- -- -- -- -- - - — — *•“ ** U. S. Government securities: Bought outright-- Bills 3,032 143 750 175 257 196 167 518 123 65 139 123 376 Certificates 1,680 79 4i6 97 143 109 92 287 68 36 77 68 208 Notes 20,008 941 4,948 1,156 1,696 1,297 1,100 3,419 812 429 917 813 2,480 Bonds 3«812 179 o43 220 121 247 210 651.___ 155 82 174 155. 473 Total 28,532 1,342 7,057 1,648 2,419 1,849 1,569 4,875 1,158 612 1,307 1,159 3,537 Held under repurchase agreement - - -- «... -- - - - - - - *■* *■ — . Total U. S. Government securities 28,532 1,342 7,057 1} 6k 8 2,419 1,849 1,569 4,875 1,158 612 1,307 1,159 3,537 Total loans and securities 28,706 1,348 7,121 1,654 2,429 l,86l 1,579 4,895 1,169 6l4 1,323 1,162 3,551 Cash items in process of collection 5,460 389 1,066 333 436 386 430 871 239 160 290 250 6lC Bank premises 111 4 9 4 8 6 14 24 7 5 6 13 11 Other assets 31? i4 78 18 28 21 18 54 12 7 15 13 39 TCTAL ASSETS 52,311 2,774 12,965 2,969 4,358 3,473 2,995 8,883 2,103 1,180 2,307 2,090 6,214 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 31, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (in millions of dollLars ) L I A B I L I T I E S Federal Reserve notes 28,536 1,665 6,554 1,843 2,599 2,308 1,642 5,244 1, 237 569 1,173 842 2,900 Deposits: Member bank reserves l6,872 661 4,750 74l 1, 245 736 865 2,635 600 422 811 920 2,486 U.S. Treasurer-general account 362 2 80 16 16 34 25 33 24 18 29 31 54 Foreign 229 10 1/73 13 20 10 11 30 7 5 9 12 29 Other 286 * 236 1 2 3 1 2 l * 2 1 37 Total deposits 17,7^9 673 5,139 771 1, 283 783 902 2,700 £32 W f 851 96V 2,606 Deferred availahility cash items 4,554 367 873 270 379 313 372 729 183 132 222 203 511 Other liabilities and accrued dividends 69 3 17 4 6 4 4 12 3 2 2 3 9 TOTAL LIABILITIES 50,908 2,708 12, 583 2,888 4,227 3,408 2,920 8,685 2, 055 1,148 2, 248 2,012 6,026 CAPITAL ACCOUNTS Capital paid in 448 21 122 26 42 20 24 63 15 10 19 26 60 Surplus 888 42 2^3 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 67 3 17 4 6 9 4 11 2 2 3 2 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,311 2,71b 12,965 2,969 4,398 3,473 2,995 8,883 2,103 1,180 2,307 2,090 6,214 Contingent liability on accept­ ances purchased for foreign correspondents 120 6 8/33 7 11 9 6 17 4 3 5 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,077 1,7^0 6,939 1,922 2, 746" 2, 407 1,742 5,434 1,309 655 1,206 920 3,061 Collateral for F. R. notes: Gold certificate account 8,309 585 1,600 970 770 739 475 1,500 369 160 310 235 l, 000 Eligible paper 26 -- -- 3 -- -- -- 9 -- l4 -- — U. S. Government securities 23,105 1,235 5,600 1,5C0 2,050 1,715 l,4oo 4,100 990 510 950 755 2, 3CO Total collateral 31, 440 1,820 7,2C0 2, 073 2, 820 2, 450 1,875 5,600 l, 368 670 1,274 990 3, ?C0 other Federal Reserve Banks, * Less than $.500,000. Digitized for F2RfA SEARf ter deducting $ 87 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis