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 15, 19&2 The average of daily figures of total member bank reserves held during the week ended February 14 decreased a net of $178 million to $19,520 million- Estimated currency and coin of member banks increased $33 million and their reserve balances at the Federal Reserve Banks decreased $211 million- Estimated required reserves decreased $236 million; and estimated excess reserves -increased $58 million to $514 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $444 million, compared with the revised figure of $384 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $13 million in U- S- Government securities bought outright, $67 million in Federal Reserve float, and $15 million in gold stock, and increases of $112 million in currency in circulation and $85 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were de­ creases of $26 million in foreign deposits with Federal Reserve Banks, $25 million in "other" deposits with Federal Reserve Banks, and $20 million in "other" F- Raccounts (net). Total Reserve Bank credit decreased $82 million. As of Wednesday, February l4, holdings of U. S. Government securities bought outright were $408 million lower than a week earlier and member bank borrow­ ings were $4 million higher. Outright holdings of bills, certificates, and bonds decreased $398 million, $7 million, and $26 million, respectively, and notes increased $23 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 14, Feb. 7, Feb. i5, Feb. 14, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 28,575 - 13 +1,922 28,188 Held under repurchase agreement — ■" - 35^ mm mm Acceptances-- Bought outright 46 - 1 2 45 Held under repurchase agreement — - — — 1 Discounts and advances— Member bank borrowings 70 - 2 - 123 159 Other 50 — + 4l 50 Float 1,050 - 67 + 221 1,211 Total Reserve Bank credit 29,791 - 82 +1,705 29,653 Gold stock 16,789 - 15 - 621 16,790 Treasury currency outstanding 5,585 + 1 + 181 5,586 52,165 - 97 +1,265 52,029 Currency in circulation 32,888 +112 + 958 32,925 Treasury cash holdings 448 - 12 + 31 449 Treasury deposits with F. R. Banks 444 + 85 - 82 447 Foreign deposits with F. R. Banks 197 - 26 + 12 205 Other deposits with F. R. Banks 252 - 25 - 149 260 Other F. R. accounts (net) 1,022 - 20 — 985 35,252 +115 + 772 35,271 Member bank reserves: With Federal Reserve Banks 16,914 -211 + 494 16,758 Currency and coin (estimated) 2,606 + 33 + 182 2,°4l Total reserves held 19,520 -178 + 676 19,699 Required reserves (estimated) 19,006 >236 + 8o4 19,093 Excess reserves (estimated) 51^ + 58 - 128 606 On February l4, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5, 512 million, an increase of Digitized for FRASER $22 million for the week and a decrease of $422 million from the comparable date http://fraser.stlouisfed.org/ Federaal Ryeesearvre Baagnok .o f St. Louis __________________

H.l.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) ______Change since Feb-’ ll, Feb- 7, Feb- 15, 1962 1962 1961 A S S E T S Gold certificate account 15,373 + 10 - 681 Redemption fund for F. R. notes 1,150 1 4 ,97 Total gold certificate reserves 16,523 + 5 - 581 ip Cash , (570) 175 6 - 13 Discounts and advances 209 + 1 - 262 Acceptances: Bought outright 15 — - 1 Held under repurchase agreement — -- - 5 U. S. Government securities: Bought outright-- Bills 2,683 - 398 4 55 Certificates 1,673 7 -3,789 Notes 20, Oil + 23 +1,017 Bonds 3,791 26 +1,250 Total bought outright 28,185 - ko8 +1,563 Held under repurchase agreement — — - 536 Total U- S. Government securities 28,185 - I08 +1,027 Total loans and securities 28,112 - lol 4 759 Cash items in process of collection (893) 5,162 +1,016 4 I56 Bank premises 110 — 4 2 Other assets 350 + 12 4 236 TOTAL ASSETS (1,163) 51,362 + 65I 4 85S L I A B I L I T I E S Federal Reserve notes (570) 27,996 + 77 + 867 Deposits: Member bank reserves 16,758 - 2I9 - 56 U. S- Treasurer— general account 117 + 106 - 98 Foreign 205 - 21 4 11 Other 260 + 10 - ll5 Total deposits 17,670 - 15 S - 288 Deferred availability cash items (893) 1,251 + 772 4 151 Other liabilities and accrued dividends 65 3 4 30 TOTAL LIABILITIES (1,163) 49,982 + 692 4 760 C A P I T A L A C C O U N T S Capital paid in I50 + 2 4 32 Surplus 888 — 4 71 Other capital accounts 12 lo - 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,163) 51,362 + 65^ 4 856 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) 35-7$ + .I/® - 1.8$ Contingent liability on acceptances purchased for foreign correspondents 111 2 - 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 ll, 19.62 (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 158 10 5,208 - 37 16 days to 90 days 51 35 3, 270 +1, b06 91 days to 1 year — -- 8,116 -1,991 Over 1 year to 5 years -- -- 8,771 + ll Over 5 years to 10 years — — 2,227 DigitizeOdv feorr F R1A0S EyRe ars -- 266 http://fraser.stTlooutisafeld.org/ 209 55 28,188 7—m Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY l4, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco A S S E T S (in millions of dollars) Gold certificate account 15,373 832 4,072 796 1,285 1,002 797 2,538 579 344 635 589 1,904 Redemption fund for F. R. notes 1,150 68 274 69 103 88 69 210 49 ____27 _____ _____22- 106 Total gold certificate reserves 16,523 900 4,346 865 1,388 1,090 866 2,748 628 371 685 626 2,010 F. R. notes of other Banks 570 34 159 44 48 29 65 48 21 19 14 44 45 Other cash 475 32 101 32 43 28 34 79 27 11 12 l6 60 Discounts and advances 209 10 76 4 10 5 10 4l 34 2 7 3 7 Acceptances: Bought outright 45 — 45 -- — -- — — — — -- -- -- U. S. Government securities: Bought outright— Bills 2,683 126 664 155 227 174 148 458 109 57 123 109 333 Certificates 1,673 79 4i4 96 142 108 92 286 68 36 77 68 207 Notes 20,04l 9b3 4,956 1,158 1,699 1,299 1,102 3,425 813 430 918 814 2,484 Bonds 3,791 178 937 219 322 246 208 648 154 81 174 154 470 Total 28,188 1,326 6,971 1,628 2,390 1,827 1,550 4,817 1,144 6o4 1,292 1,145 3,494 Held under repurchase agreement — »•» ... - - ... -- -- -- -- -- -- -- — Total U. S. Government securities 28,188 1,326 6,971 1,628 2,390 1,827 1,550 4.817 1.144 6o4 1.292 ■_UL45_ 3.494 Total loans and securities 28,442 1,336 7,092 1,632 2,400 1,832 1,560 4,858 1,178 606 1,299 1,148 3,501 Cash items in process of collection 6,355 417 1,262 431 520 403 495 1,139 268 176 308 288 648 Bank premises 110 b 9 3 8 6 14 24 7 5 6 13 11 Other assets 350 17 87 20 30 22 _____20 ...,58 . l4 ______6._____IX. 15 _____kk TOTAL ASSETS 52,825 2,740 13,056 3,027 4,437 3,410 3,054 8,954 2,143 1,194 2,341 2,150 6,319 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL'" RESERVE BANK ON FEBRUARY l4', "1962- H.4.1(c) San Total Boston N Y e o t r / k d P e h l i p l hi a a ­ Cl l e a v n e d ­ m R o i n ch d ­ Atlanta Chicago Lo St u . is M a i p n ol n i e s ­ Ka C n i s t a y s Dallas F c r i a s n co ­ (in millions of dollars) L I A B I L I T I E S Federal Reserve notes 28,566 1,671 6,587 1*843 2, 560 2, 306 1*637 5,245 1,236 573 1*173 836 2,899 Deposits: Member bank reserves 16,758 610 4,762 717 1,245 691 900 2,490 608 4l8 829 943 2,545 U.S. Treasurer-general account 447 24 37 21 30 38 29 74 30 24 29 32 79 Foreign 2 2 0 6 5 0 10 * “ 1 " / 2 4 1 5 3 13 1 21 1 10 3 12 1 31 1 7 1 * 5 9 2 12 1 3 R 0 6 Other 17,670 644 5,057 752 1* 297 742 942 2, 596 646 447 869 988 2,690 Total deposits Deferred availability cash items 5*144 357 1,021 349 446 294 397 908 211 l4l 239 244 537 Other liabilities and accrued 17 k 5 5 4 10 2 2 2 R 8 dividends TOTAL LIABILITIES 51* 445 2, 675 12,682 2,948 4,308 3,347 2,980 8,759 2,095 1,163 2,283 2,071 6,134 CAPITAL ACCOUNTS L-50 21 122 26 42 20 24 63 16 10 19 26 61 Capital paid in 888 42 243 51 83 40 47 124 31 20 37 50 120 i, S O u t r h p e l r u s capital accotints k2 2 9 2 k 3 3 8 1 1 2 3 4 TO C TA A L P I L T I A A L B A I C L C I O T U I N E T S S AND _52,825_ 2,j40__ 13*056 3* 027 4,437 3,410 3*054 8,954 2,143 1,194 2,341 2,150 6,319 Contingent liability on accept­ a c n o c r e r s e s p p u o r n c de h n a t s e s_ d _ _ f _ o _ r _ _ f _ o _ r _ e _ ig _ n ll4 5 2/31 7 11 5 6 16 4 3 5 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F.R. notes outstanding 29,899 1*737 6,914 1,907 2,731 2,386 1,721 5*393 1,298 653 1,205 910 3*o44 Col G l o a l t d e r c a e l rt i f f o i r c F at . e R . a cc no o t u e n s t : 8,259 585 1,600 570 770 735 425 1*500 369 160 310 235 1,000 U E . l ig S i . bl G e o ve p r a n p m e e r nt securities 23,10 3 5 8 1* 235 5,600 1,500 1 2,050 1,715 1,400' 4,100 99 3 0 2 510 950 5 755 2,300 Total collateral 31* 402 1,820 7,2001 2,071 2,820’ 2,450' 1*825 5,600 1,391 670 1,265 990' 3* 300 l/ After deducting $1.60 million pair UXC ± jJct UXUilt? ui u —-------- * Less than $500*000. Digitized for2 F/R AASfERt er deducting $ 83 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis