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 H.4.1 For immediate release March 8, 1962 The average of daily figures of total member bank reserves held during the week ended March 7 decreased a net of $63 million to $19,424 million. Esti­ mated currency and coin of member banks decreased $329 million and their reserve balances at the Federal Reserve Banks increased $266 million. Estimated required reserves increased $19 million; and estimated excess reserves decreased $82 million to $440 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $350 million, compared with the revised figure of $466 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $148 million in Federal Reserve holdings of U. S. Government securities and $34 million in member bank borrowings, and decrease® of $69 million in Treasury deposits with Federal Reserve Banks and $56 million in "other" F.R. accounts (net). The principal offsetting changes were an increase of $53 million in currency in circulation and a decrease of $18 million in gold stock. Total Reserve Bank credit increased $196 million. As of Wednesday, March 7, holdings of U. S. Government securities bought outright were $200 million higher than a week earlier and member bank borrowings were $273 million higher. Outright holdings of bills, notes, and bonds increased $70 million, $70 million, and $60 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 7, Feb. 28, Mar. 8, Mar .7, and related items 1962 . 1962______ 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 28,419 +134 +1,644 28,560 Held under repurchase agreement 14 + 14 4 Acceptances— Bought outright 46 + 1 1 44 Held under repurchase agreement 1 Discounts and advances— Member bank borrowings 90 + 34 4 347 Other 66 + 14 + 56 65 Float 1,339 - 1 + 271 1,146 Total Reserve Bank credit 29,974 +195 +1,960 307152 Gold stock 16,772 - 18 - 601 16,730 Treasury currency outstanding 5,587 - 1 + 182 5,588 52,333 +175 +l,54l 52,480 Currency in circulation 32,908 + 53 +i,n4 32,995 Treasury cash holdings 44o 1 - + 7 445 Treasury deposits with F. R. Banks 4oi - 69 - 14 4lo Foreign deposits with F. R. Banks 214 - 13 - 19 229 Other deposits with F. R. Banks - 2 283 - 115 205 Other F. R. accounts (net) 1,100 - 56 + 13 1,099 153*5 - 88 + 986 35,383 Member bank reserves: With Federal Reserve Banks 16,987 +266 + 554 17,097 Currency and coin (estimated) 2,437 -329 + 199 2,654 Total reserves held 19,424 T-53 + 753 19,751 Required reserves (estimated) 18,984 + 19 + 74o l8|913 Excess reserves (estimated) 44o - 82 838 + 13 On March 7, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,500 million, an increase of $68 mil­ Digitized for FRASER lion for the week and a decrease of $368 million from the comparable date a year http://fraser.stlouisfed.org/ ago. _______________________ Federal Reserve Bank of St. Louis

ti.4.1(a) UUWbUbJLU'A'imi bTAiai*iM'Ji US' UUIMUlTlUiM OF THE TWELVE FEDERAL RESERVE BARKS (In millions of dollars) Change since Mar. 7, Feb .23, Mar .8, 1962 1962 1961 A S S E T S Gold certificate account 15,320 - 60 - 709 Redemption fund for F. R. notes 1,144 - 6 + 98 Total gold certificate reserves 16,464 - 66 - 6ll * Cash (486) 455 - 25 - 37 Discounts and advances 412 +273 + 200 Acceptances: Bought outright 44 — 2 1 Held under repurchase agreement U. S. Government securities: Bought outright— Bills 2,900 + 70 + 250 Certificates 4,972 -- - 443 Notes 16,842 + 70 + 637 Bonds 3,846 + 60 +1,219 Total bought outright 28,560 +200 +1,663 Held linder repurchase agreement -- -- - 23 Total U. S. Government securities 28,560 +200 +i,64o Total loans and securities 29,016 +473 +1,837 Cash items in process of collection (875) 4,561 + 611 Bank premises 109 + 1 + 1 Other assets 286 + 72 + 113 TOTAL ASSETS > 50,891 • 22** “"+1,914 L I A B I L I T I E S Federal Reserve notes 1 28,04l +104 + 958 Deposits: Member bank reserves 17,097 +289 + 726 U. S. Treasurer— general account 4io - 39 - 36 Foreign 229 + 25 + 52 Other 205 -184 - 188 Total deposits 17,941 + 91 + 554 Deferred availability cash items (875)1 3,415 -238** + 269 Other liabilities and accrued dividends 67 + 2 + 33 TOTAL LIABILITIES 1 49,464 _ 4i** +1, sir C A P I T A L A C C O U N T S Capital paid in 452 + 1 + 31 Surplus 888 + 71 Other capital accounts 87 + 18 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 361)1 50,891 - 22** +1,914 35-4$ 1 CO t 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) - 2.6# Contingent liability on acceptances purchased __for foreign correspondents 115 + 2 - 60 * "Figures"in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. ** February 28 figures revised.- _____________________ a OF LOANS AND SECURITISE, March 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 346 12 536 +110 16 days to 90 days 51 32 3,236 - 84 91 days to 1 year .15 — 12,092 + 52 Over 1 year to 5 years -- 10,203 +122 - - Digitiz O e v d e fo r r F 5 R A y S e ER a rs to 10 years - - - - 2,227 — http://Ofrvaseerr. st1lo0ui sfyeed.aorrgs/ : 266 — Fede_r_al_ R_esTeorvte aBlan k, of St. Louis FTp HE +200

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 7, 1962 H.4.l(h) 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 15,320 4,028 835 1,201 1,072 722 2,496 602 362 636 578 2,043 Redemption fund for F. R. notes l,l44 272 71 102 85 68 209 50 27 50 37 105 Total gold certificate reserves 16,464 813 4,300 906 1,303 1,157 790 2,705 652 389 686 615 2,148 F. R. notes of other Banks 486 21 135 39 39 17 76 38 14 17 14 37 39 Other cash 455 31 97 30 38 26 30 83 24 11 15 14 56 Discounts and advances 412 12 95 7 47 25 8 103 17 6 47 18 27 Acceptances: Bought outright 44 — 44 — — — — — -- — — -- — U- S. Government securities: Bought outright— Bills 2,900 154 717 168 246 184 160 495 117 62 126 118 353 Certificates 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Notes 16,842 896 4,165 973 1,428 1,066 926 2,878 680 361 734 684 2,051 Bonds 8,846 205 951 222 326 243 211 657 151. 8.1 168 156 469 Total 28,560 1,520 7,063 1,650 2,422 1,808 1,570 4,880 1,152 612 1,245 1,160 3,478 Held under repurchase agreement Total U. S. Government securities 28.560 1,520 7.063 1.650 2.422 1,8.08— 1,57-0— ..4., .880- ,.1,25.2— 612- 1,245— 1,160— 3,478- Total loans and securities 29,016 1,532 7,202 1,657 2,469 1,833 1,578 4,983 1,169 618 1,292 1,178 3,505 Cash items in process of collection 5,^36 379 1,107 346 434 383 423 84o 229 159 279 247 610 Bank premises 109 4 9 8 5 l4 24 7 6 13 11 Other assets 286 l4 71 l! 25 17 17 47.. 11 l 13_ 13 -____3i TOTAL ASSETS 52,252 2,794 12,921 2,997 4,316 3,438 2,928 8,720 2,106 1,205 2,305 2,117 6,405 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 MARCH 1, 1962 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis