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 February 8, 1962 The average of daily figures of total member bank reserves held during the week ended February 7 decreased a net of $36 million to $19,721 million. Estimated currency and coin of member banks decreased $279 million and their reserve balances at the Federal Reserve Banks increased $243 million. Estimated required reserves increased $1 million; and estimated excess reserves decreased $37 million to $493 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $421 million, compared with the revised figure of $470 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $278 million in U. S. Government securities bought outright and a decrease of $65 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $110 million in Federal Reserve float and $28 million in gold stock. Total Reserve Bank credit increased $195 million. As of Wednesday, February 7, holdings of U. S. Government securities bought outright were $64 million higher than a week earlier and member bank borrowings were $76 million higher. Outright holdings of bills, notes, and bonds increased $49 million, $10 million, and $5 million, respectively. Averages of daily figures Member bank reserves, Week ended. |Change from week ended Wednesday, Reserve Bank credit, Feb. 7, Jan. 31, Feb. 8, Feb. 7, and related items 1962 1 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 28,588 +278 +1,916 28,596 Held under repurchase agreement — — - 166 — Acceptances--bought outright 47 + 1 — ^5 Discounts and advances— Member bank borrowings 72 + 12 - 107 155 Other 50 + 16 + 4i 50 Float 1,U7 -110 + 64 937 Total Reserve Bank credit 29,873 +195 +1,725 29,783 Gold stock 16,8o4 - 28 - 625 16,790 Treasury currency outstanding 5,584 - 6 + 181 52,262 +1S2 +1,283 52,158 Currency in circulation 32,776 - 16 + 971 32,833 Treasury cash holdings 460 + 9 + 47 463 Treasury deposits with F. R. Banks 359 - 65 - 164 341 Foreign deposits with F. R. Banks 223 + 10 + 27 226 Other deposits with F. R. Banks 277 - 19 - 106 250 Other F. R. accounts (net) 1,042 -- + 24 1,038 35,137 - 81 + 799 35,151 Member bank reserves: With Federal Reserve Banks 17,125 +243 + 484 17,007 Currency and coin (estimated) 2, 596 -279 + 289 2,781 Total reserves held 19,721 - 36 + 773 19,788 Required reserves (estimated) 19, 228 + 1 + 848 19,166 622 Excess reserves (estimated) 493 - 37 - 75 On February 7, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,490 million, an increase of $87 million for the week and a decrease of $376 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.l.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Feb. 7, Jan• 31, Feb. 8, 1962 1962 1961 A S S E T S Gold certificate account 15,363 - 25 - 708 Redemption fund for F. R. notes l,15l -- + 99 Total gold certificate reserves 16,517 - 25 7 5o9 Cash (625) 181 - 2 - 25 Discounts and advances 205 4- 76 - 321 Acceptances--"bought outright 15 -- 1 U. S. Government securities: Bought outright— Bills 3,081 + 19 + 162 Certificates 1,680 — -7,365 Notes 20,018 4- 10 +7,531 Bonds 3,817 4- 5 +1,276 Total "bought outright 28,596 4- 6k +1,907 Held under repurchase agreement -- — - 372 Total U. S. Government securities 28,596 4- 6k +1,535 Total loans and securities 28,816 + llo +1,213 Cash items in process of collection (882) 1,116 4* 11 + 398 Bank premises 110 - 1 + 1 Other assets 338 + 21 + 111 TOTAL ASSETS (1,507) 50,708 4-"115 +1,092 L I A B I L I T I E S Federal Reserve notes (625) 27,919 + 75 + 815 Deposits: Member bank reserves 17,007 4* 135 - 31 U. S. Treasurer— general account 3ll - 21 - 108 Foreign 226 - 3 + 31 Other 250 - 36 - 131 Total deposits 17,821 + 75 - 212 Deferred availability cash items (882) 3,179 - 20 + 390 Other liabilities and accrued dividends 68 - 1 + 32 TOTAL LIABILITIES (1,507) 19,290 4- 129 + 995 C A P I T A L A C C O U N T S Capital paid in 118 — + 30 Surplus 888 — + 71 Other capital accounts 82 4- 15 k TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,507) 50,708 4- ill +1,092 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) 35-6# - .1$ - 1.8$ Contingent liability on acceptances purchased for foreign correspondents 116 - 1 - 76 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, FEBRUARY 7, 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 15^ 7 5,215 -255 l6 days to 90 days 51 38 1,661 +256 91 days to 1 year — — 10,137 + 57 Over 1 year to 5 years — — 8,757 + 6 Over 5 years to 10 years -- — 2,227 266 Over 10 years -- Digitized for FR T A o S t E a R l 205 55 28,596 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

bTAlEMERT OF CCi-iDITICH OF EACH FEDERAL RESERVE BARK OR FEBRUARY 7, 1962 San Total Boston N Y e o w rk d P el 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 M a i po n l n i e s ­ Ka C n i s t a y s I Dallas F c r i a sc n o ­ C5T millions of dollars) A S S E T S Gold certificate account 15,363 944 3,855 836 1,239 1,055 819 2,563 610 337 660 629 1,816 Redemption fund for F. R• notes 1,154 68 274 70 103 89 70 210 49 27 50 37 107 Total gold certificate reserves 16^17 1,012 4,129 906 1,342 1,144 889 2,773 659 364 710 666 1,923 F. R. notes of other Banks 625 43 168 59 53 31 74 51 25 20 16 43 42 Other cash 481 33 104 28 44 29 36 79 28 11 13 17 59 Discounts and advances 205 15 79 6 8 9 7 45 11 3 12 3 7 Acceptances: Bought outright 45 — 45 - - ~ - — — — — U. S. Government securities: Bought outright-- Bills 3,081 145 762 178 261 200 169 527 125 66 l4l 125 382 Certificates 1,680 79 4l6 97 143 109 92 287 68 36 77 68 208 Rotes 20,018 941 4,950 1,157 1,697 1,298 1,101 3,420 813 429 917 813 2,482 Bonds 1.817 180 944 220 324 247 210 — 652. . 155. 82 ____125- 155 473 Total 28,596 1,345 7,072 1,652 2,425 1,854 1,572 4,886 1,161 613 1,310 l,l6l 3,545 Held under repurchase agreement Ml — «. - - - -- -- -- -- - - “ — Total U, S. Government securities 28,596 1,345 7,072 1,652 2,425 1,854_ M 22 4,886 l,l6l 613 1,310 l,l6l 3,545. Total loans and securities 28,846 1,360 7,196 1,658 2,433 1,863 1,579 4,931 1,172 616 1,322 1,164 3,552 Cash items in process of collection 5,298 3 89 985 318 417 388 427 833 246 159 276 240 620 Bank premises 110 4 9 3 8 6 l4 24 7 5 6 13 11 16 Ik kl Other assets 338 16 85 19 28 22 19 58______13. 7 TOTAL ASSETS 52,215 2,857 12,676■ 2,991 4,325 3,483 3,038 8,749 2,150 1,182 2,359 2,157 6,248 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 ON FEBRUARY 7, 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 dollars) L I A B I L I T I E S Federal Reserve notes 28,544 1,668 6,559 1,840 2,560 2,310 1,645 5,241 1,238 571 1,172 838 2,902 Deposits: Member Dank reserves 17,007 729 4,666 780 1,232 749 915 2,523 625 422 854 983 2,529 U.S. Treasurer-general account 341 24 32 17 18 35 l6 56 28 19 4o 35 21 226 11 1/63 13 21 10 12 31 8 5 9 13 30 Foreign Other 250 l 194 1 2 4 1 1 2 1 1 1 4l Total deposits 17,824 765" 4,955 811 1,273 798 944 2,611 663 55T 905" 1,032 2,621 Deferred availability cash items 4,361 355 759 255 355 305 369 683 198 130 220 205 527 Other liabilities and accrued dividends 68 3 17 4 5 4 4 13 2 2 3 3 8 TOTAL LIABILITIES 50,797 2,791 12,290 2,910 ^ T W 37517 27962 87558" 2,101 1,150 2,299 2,078 6,058 CAPITAL ACCOUNTS Capital paid in 448 21 122 26 42 20 24 63 15 10 19 26 60 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 82 3 21 4 7 6 5 14 3 2 4 3 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,215 2,821 12,676 2,991_ A 3 2 5 3,483 3,038 8,749 2,150 1,182 2,359 2,157 6,248 Contingent liability on accept­ ances purchased for foreign correspondents_______________ 116 5 2/32 7 11 5 6 16 4 3 5 6 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,987 1,741 6,939 1,914 2,741 2,396 1,725" 5,414 1,303 652 1,199 914 3,049 Collateral for F» R. notes: Gold certificate account 8,259 585 1,600 570 770 735 425 1,500 369 160 310 235 1,000 Eligible paper 22 -.. __ 3 -- -- -- -- 9 -- 10 • *“ *■* *• U. S. Government securities 23,105 1,235 5,600 1,500 2,050 1,715 1,400 4,100 990 510 950 755 2,300 Total collateral 31,386 1,820 7,200 2,073 2,820 2,450 1,825 5,600 1,368 670 1,270 990 3,300 2/ After deducting $ 84 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis