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 March l, 1962 The average of daily figures of total member bank reserves held during the week ended February 28 decreased a net of $l4o million to $19,439 million. Estimated currency and coin of member banks increased $43 million and their reserve balances at the Federal Reserve Banks decreased $183 million. Estimated required reserves de­ creased $87 million; and estimated excess reserves decreased $53 million to $480 mil- ^°ai* ®xcess reserves exceeded member bank borrowings at the Federal Reserve Banks $46l by $424 million, compared with the revised figure of million the week before. The principal changes reducing average reserve balances with Federal Re- - serve Banks were decreases of $315 million in Federal Reserve float and $28 million in U. S. Government securities held under repurchase agreement, and increases of $37 million in Treasury deposits with Federal Reserve Banks and $30 million in for­ eign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $223 million in U. S. Government securities bought outright. Total Re­ serve Bank credit decreased $135 million. As of Wednesday, February 28, holdings of U. S.. Government securities bought outright were $317 million higher than a week earlier and member bank borrow­ ings were $44 million lower. Outright holdings of bills, certificates, notes, and bonds increased $232 million, $17 million, $44 million, and $24 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 28, Feb. 21, Mar. 1, Feb. 28, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: J ■ -A U. S. Government securities-- Bought outright--System account 28,285 +223 +1,664 28,360 Held under repurchase agreement -- - 28 - 85 — Acceptances-- Bought outright 45 - 1 3 44 Held under repurchase agreement 2 Discounts and advances-- Member bank borrowings 56 - 16 + 6 74 Other 52 * + 2 + 43 65 Float i,34o -315 + 46 1,385 Total Reserve Bank credit ~29,77S -135 +1,669 29/928 Gold stock 16,790 — - 583 16,790 Treasury currency outstanding 5,588 + 2 + 183 5,585 52,155 ^135 +1,269 52,303 Currency in circulation 32,855 - 15 +1,087 32,863 Treasury cash holdings 44i - 6 + 4 439 Treasury deposits with F. R. Banks 470 + 37 6l 449 Foreign deposits with F. R. Banks 227 + 30 + 28 204 Other deposits with F. R. Banks 285 + 11 - 115 389 Other F. R. accounts (net) 1,156 - 7 + 63 1,151 35,434 + 49 +1,006 35,495 Member bank reserves: With Federal Reserve Banks 16' 721 -183 + 263 16,808 Currency and coin (estimated) 2,718 + 43 + 162 2,889 Total reserves held 19,^39 -l5o + 425 19,697 Required reserves (estimated) 18,959 - 87 + 624 19,065 Excess reserves (estimated) 48o - 53 - 199 632 On February 28, 1962, u. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,432 million, a decrease of $82 Digmitiizeldl fioro FnR AfSoErR the week and a decrease of $430 million from the comparable date a year httpa:/g/fora.ser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(a ) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) ___ Change since _ Feb. 28, Feb. 21, Max', 1962 1962 1961 A S S E T S ii D O Uj i O Gold certificate account 15,380 + 9 - 649 Redemption fund for F. R. notes 1,150 - 2 + 104 Total gold certificate reserves 16,530 + 7 - 545 Cash (546) 480 - 8 - 18 Discounts and advances 139 - 29 + 83 Acceptances--bought outright 44 - 1 2 U. S. Government securities: Bought outright-- Bills 2,830 +232 + 234 Certificates 4,972 + 17 - 485 Notes 16,772 + 44 + 716 Bonds 3,786 + 24 +1,228 Total bought outright 28, ’360 +317 +1,693 Held under repurchase agreement Total U. S. Government securities 187360 +317 +1,693 Total loans and securities 28,543 +287 +1,774 Cash items in process of collection (l,104) 5,022 - 43 + 432 Bank premises 108 - 3 — Other assets 214 + 17 + 6k TOTAL ASSETS? (1,650) 50,897 +257 +1,707 L I A B I L I T I E S Federal Reserve notes (546) 27,937 - 32 + 959 Deposits: Member bank reserves 16,808 +26l + 591 U. S. Treasurer— general account 449 - 15 + 43 Foreign 204 + 14 7 Other 389 +124 - 35 Total deposits 177650 +384 + 592~ Deferred availability cash items (1,104) 3,637 -109 + 28 Other liabilities and accrued dividends ...65 + 1 + 34 TOTAL LIABILITIES (1,650) 49,489 +244 +1,613 C A P I T A L A C C O U N T S Capital paid in 451 — + 30 Surplus 888 — + 71 Other capital accounts 69 + 13 7 TOTAL LIABILITIES AND CAPITAL ACC0UNTS(l, 650) 50,897 +257 +1,707 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# -.2$ - 2.4# Contingent liability on acceptances purchased for foreign correspondents 113 + 3 65 * 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 28, 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 73 11 426 - 2 16 days to 90 days 1+9 33 3,320 +123 91 days to 1 year 17 -- 12, o4o +193 Over 1 year to 5 years 10,081 + 3 Over 5 years to 10 years — 2,227 -- DigitOizevde fro r F1R0A SyEeRa rs 2 66 — http://fraser.stlouisfed.org/ Federal Re T se o rv t e a B l ank of St. Louis 139 m r 28,360 +317

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 28, 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) A S S E T S Gold certificate account 15,380 648 4,178 774 1,187 1,096 790 2,535 605 335 653 603 1,976 Redemption fund for F. R. notes 1,150 68 273 71 103 87 69 209 50 27 50 37 106 Total gold certificate re selves' 16,530 716 4,451 845 1,290 1,183 859 2,744 655 362 703 640 2,082 F. R. notes of other Banks 546 26 149 44 46 23 78 43 20 18 14 4l 44 Other cash 48o 31 102 31 4o 30 35 85 25 12 13 17 59 Discounts and advances 139 5 26 6 10 9 4 17 11 2 27 4 18 Acceptances: Bought outright 44 44 U. S. Government securities: Bought outright-- Bills 2,830 151 700 163 240 179 156 483 114 61 123 115 345 Certificates 4,972 265 1,230 287 422 315 273 850 200 10 6 217 202 605 Notes 16,772 893 4,148 969 1,422 l,06l 922 2,866 677 360 731 681 2,o42 Bonds 3,786 201 936 219 321 24o 208 647 153 81 165 154 46i Total 28,360 1,510 7,014 1,638 2,405 1,795 1,559 4,846 l,i44 608 1,236 1,152 "3,453 Held under repurchase agreement Total U. S. Government securities 28,360 1.510 .7,014 1,-633 2,405 1,795 1,559 4.846 1.144 608 1.2^6 1.152 3.45R Total loans and securities 28,543 1,515 7,084 1,644 2,415 l,8o4 1,563 4,863 1,155 610 1,263 1,156 3,471 Cash items in process of collection 6,126 472 1,193 393 545 399 455 978 260 172 321 289 649 Bank premises 108 3 9 3 8 5 14 24 7 5 6 13 11 Other assets 214 11 52 13 19 13 13 35 9 4 10 9 26 TOTAL ASSETS 52,547 2,774 13,040 2,973 4,363 3,457 3,017 8,772 2,131 1,183 2,330 2,165 6,342 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 28, 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 28, 483 1, 668 6, 576 1,832 2,550 2,300 1,627 5,228 1,231 573 1,173 830 2,895 Federal Reserve notes Deposits: Member bank reserves 16,808 615 *771 730 1,211 730 873 2,502 6l4 *15 806 961 2, 580 U.S. Treasurer-general account 449 26 39 6 26 51 42 50 33 21 39 45 71 Foreign 20k 9 66 ll 18 9 10 26 6 4 8 11 26 Other 389 1 330 6 1 3 1 3 1 1 2 1 39 Total deposits 17,850 651 5,206 753 1, 256 793 926 2, 581 654 44l 855 1,018 2,716 Deferred availability cash items 4,7*1 386 859 303 420 295 386 752 195 135 240 235 535 Other liabilities and accrued 65 3 17 h 6 4 3 11 2 2 3 2 8 dividends TOTAL LIABILITIES 51,139 2,70 8 12,658 2,892 4,232 3,392 2,9*2 8,572 2,082 1,151 2,271 2, 085 6,154 CAPITAL ACCOUNTS Capital paid in ^51 21 122 26 42 21 24 63 16 10 19 26 61 Surplus 888 k2 243 51 83 4o *7 124 31 20 37 50 120 Other capital accounts 69 3 17 4 6 4 4 13 2 2 ____1_ 4 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,5*7. '2,77* 13, 0*3 2,973 * 363 3, *57 3,017 8,772 2,131 1,183 2, 330 2,165 6,3*5 Contingent liability on accept­ ances purchased for foreign corre spondent s 113 5 31 6 11 5 6 16 4 3 5 6 ___il_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 29,830 1,732 6,903 1,908 2,724 2, 383 1,708 5,386 1,291 651 1, 201 904 3,039 Collateral for F. R. notes: Gold certificate account 8,035 430 1,600 530 770 735 425 1,500 340 160 310 235 1,000 Eligible paper 35 -- 2 -- -- — Q 24 — — U. S. Government securities 23,205 1,365 5,600 1, 500 2,050 1,665 i.4oo 4. ico 1.010 SIC - .950 ..,-255— 2. R00 Total.collateral 31, 275 1,795 7,200 2, 032 2, 820 2, 400 l, 825 5,600 1,359 670 1,284 990 3,300 Digitized 1fo/r FRAAfStEeRr deducting $138 million participations of other Federal Reserve Banks. http://fras2er/.s tloAufistfeedr.o rgd/ educting $ 82 million participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis