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 22, 1962 The average of daily figures of total member bank reserves held during the week ended March 21 increased $310 million to $19,657 million. Estimated currency and coin of member banks increased $13 million and their reserve balances at the Federal Reserve Banks increased $297 million. Estimated required reserves increased $2jh million; and estimated excess reserves increased $36 million to $5H million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $378 million, compared with the revised figure of $422 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $194 million in Federal Reserve float, $80 million in member bank borrowings, and $33 million in U. S. Government securities held under repurchase agreement, and decreases of $26 million in "other" F.R. accounts (net) and <pl8 million in currency in circulation. The principal offsetting change was a decrease of $48 million in U. S. Government securities bought outright. Total Reserve Bank credit increased $259 million. As of Wednesday, March 21, holdings of U. S. Government securities bought outright were $109 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $220 million higher, and member bank borrowings were $315 million higher. Outright holdings of bills, notes, and bonds increased $88 million, $9 million, and $12 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Mar. 21, Mar. 14, Mar. 22, Mar. 21, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 28,415 - 48 +1,551 28,558 Held under repurchase agreement 72 + 33 72 248 Acceptances--bought outright 44 - 1 - 3 42 Discounts and advances-- Member bank borrowings 133 + 80 81 378 Other 65 -- + 55 65 Float 1,446 +194 186 1,202 Total Reserve Bank credit 30,176 +259 +1,942 I 30,493 Gold stock 16,709 - 15 - 676 16,710 Treasury currency outstanding 5,586 - 4 177 5,586 52,471 +241 +1,'444 52,789 Currency in circulation 33,c48 - 18 +1,161 33,001 Treasury cash holdings 446 + 5 28 449 Treasury deposits with F. R. Banks 46o - l - 46 365 Foreign deposits with F. R. Banks 219 - 5 - 19 197 Other deposits with F. R. Banks 224 - 10 - l4l 258 Other F. R. accounts (net) 1,027 - 26 - 8 1,029 35,424 - 55 + 975 35,299 Member bank reserves: With Federal Reserve Banks 17,048 +297 470; 17,489 Currency and coin (estimated) 2,609 + 13 232 2,897 Total reserves held 19,657 +310 702 20,386 Required reserves (estimated) 19,146 +274 + 695 19,212 Excess reserves (estimated) 511 + 36 + 7 1,174 On March 21, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,8-30 million, an increase of ,$!'£? mil­ lion for the week and a decrease of $. 151 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) :e since Mar.21, Mar. Illy Mar. 22, 1961 1962,, A S S E T S •» u - 763 Gold certificate account 15,291 1,144 3 + 111 Redemption fund for F. R. notes Total gold certificate reserves I67535 - 3 - 652 Cash (463) 426 ■» — - 50 Discounts and advances 1*3 4- 315 + 364 Acceptances—bought outright 42 - 1 3 U. S. Government securities: Bought outright— 2,710 4* 88 + 302 Bills - 446 Certificates 4,972 16,868 4- 9 + 582 Notes 4,008 + 12 +1,361 Bonds 2^355 4- 109 +1,799 Total bought outright 2*8 4- 220 + 248 Held under repurchase agreement Total U. S. Government securities 23^55 4- 329 +2,047 Total loans and securities * 29,291 4- 61+3 +2,408 Cash items in process of collection (1,1*6) 5,535 + 351 + 823 109 Bank premises 336 4* 12 + l4l Other assets TOTAL ASSETS (1,606) 52,132 ±1,003 +2,670 L I A B I L I T I E S Federal Reserve notes (463) 28,016 - 77 +1,012 Deposits: + 8lk +1,130 17,1*89 Member bank reserves 365 - 125 - 152 U. S. Treasurer--general account 197 _ 18 - 19 Foreign 258 4- **3 - 104; Other Total deposits 18,309 4- 7ll* + 855 Deferred availability cash items (1,11*3) **,333 4* 3**7 + 6691 Other liabilities and accrued dividends ____69 4- k + 36 TOTAL LIABILITIES (1, 606) 50,727 4* +2,572 C A P I T A L A C C O U N T S + 30 Capital paid in 1*53 888 -- + 71 Surplus Other capital accounts 64 4" 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,606) 52,132 +1,003 * +2,670 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*1$ •5$ - 2.9$ Contingent liability on acceptances purchased 72 for foreign correspondents 103 * 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, MARCH 21. 1962 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) 1 U. S. Government securities ~~ Changes Discounts and advances Acceptances Holdings during week +280 Within 15 days 3&9 11 95*T +369 16 days to 90 days 39 31 .3,276 91 days to 1 year 15 11,722 -327 Over 1 year to 5 years 10,355 + 7 Over 5 years to 10 years — — — ^ 2,227 266 — DigitizedO fovr FeRr A1S0ER years -http://fraser.stloTuisofetda.olr g/ 353 52 257856 4-329 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, 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 dollLars) A S S E T S Gold certificate account 15,291 775 3,858 843 1,286 1,042 746 2,557 532 304 666 608 2,074 Redemption fund for F. R. notes l,l44 68 269 70 102 92 68 208 49 27 49 37 105 Total gold certificate reserves 16,435 843 4,127 913 1,388 1,134 814 2,765 581 331 715 645 2,179 F. R. notes of other Banks 463 18 130 34 33 17 76 33 14 18 15 37 38 Other cash 426 28 90 24 35 22 29 78 22 10 12 l4 62 Discounts and advances 443 22 120 7 23 13 11 182 33 2 14 6 10 Acceptances: Bought outright 42 -- 42 -- -- — — - - — - “ — "" U. S. Government securities: Bought outright— Bills 2,710 144 670 157 230 172 149 463 109 58 118 110 330 Certificates 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Notes 16,868 898 4,172 974 1,430 1,067 928 2,882 681 362 735 685 2,054 Bonds 4,008 213 991 231 340 254 220 685 162 86 175 16I 488 Total 28,558 1,520 7,063 1,649 2,422 1,808 1,570 4,880 1,152 612 1,245 1,160 3,477 Held under repurchc.se agreement 248 -- 248 -- -- -- -- -- — -- - - — Total U. S. Government securities 28,806 1,520 7,311 1,649 2,422 1,808 1,570 4,880 1,152 612 1,245 1,160 3,477 Total loans and securities 29,291 1,542 7,473 1,656 2,445 1,821 1,581 5,062 1,185 6l4 1,259 1,166 3,487 Cash items in process of collection 6,678 520 1,244 391 569 477 497 1,074 287 189 367 299 764 Bank premises 109 4 9 3 8 5 l4 24 7 5 6 13 11 Other assets 336 ____17 85 19 28 20 19 55 13 7 15 16 41 2A TOTAL ASSETS 53,738 2,972 13,158 3,o4o 4,506 3,496 3,030 9,091 2,109 1,174 2,389 2,190 6,583 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 MARCH 21, 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 dol] .ars) L I A B I L I T I E S Federal Reserve notes 28,479 1,668 6,588 1,828 2,552 2,293 1,619 5,228 1,228 582 1,174 829 2,890 Deposits: Member hank reserves 17,489 720 4,945 765 1,270 733 875 2,639 598 395 813 983 2,753 U.S. Treasurer-general account 365 28 45 23 31 20 26 70 7 9 40 35 31 Foreign 197 9 1/5 7 11 18 9 10 27 7 4 8 11 26 Other ....258 * 210 1 1 1 1 * 1 1 1 ....37.. Total deposits 18,369 757 5,257 800 1,320 766 912 2,737 612 409 862 1,030 2,847 Deferred availability cash items 5,476 477 915 328 498 368 420 915 217 149 291 248 650 Other liabilities and accrued dividends . . 69 4 18 3 6 4 4 11 3 2 .... 3 3 8 TOTAL LIABILITIES 52,333 2,906 12,778 2,959 4,376 3,431 2,955 8,891 2,060 1,142 2,330 2,110 6,395 CAPITAL ACCOUNTS Capital paid in 453 21 123 26 42 21 24 64 16 10 19 26 6l Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 64 3 14 4 5 ____ 4 _ 4 12 2 2 ____3 4 ____ 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS -53*138 2*9I2__13*15 8 __3*o4o 4,506 _3*42i -2*030 .-2*0?1 2*109 1,174 -2*382. . 2^190 -6*583 Contingent liability on accept­ ances purchased for foreign correspondents 103 ____L _ 2/28 6 10 _____5-_____L_ 14 4 2 4 6 14 FEDERAL RESERVE AGENTS’ ACCOUNTS F. R. notes outstanding 29,730 i,730 6,879 1,891 2,705 2,391 1,707 5,348 1,287 658 1,206 894 3,034 Collateral for F. R. notes: Gold certificate account 8,035 430 1,600 530 770 755 425 1,500 340 160 310 215 1,000 Eligible paper 44 — - - 3 ~ ~ • • ... -- 31 -- 10 -- — U. S. Government securities 23,_2Q5_ 1,365 5,600 1,500 or 0 lJV 0 1,665 l,4oo 4,100 1,010 __510 _ 950 755 2.300 / Total collateral 31,284 1,795 7,200 2,033 2,820 2,420 1,825 5,600 1,381 670 1,270 970 3,300 1/ After deducting $l4o million participations of other Federal Reserve Banks. Digitiz£ed/ forA FfRtAeSrER deducting $ 75 million participations of other Federal Reserve Banks. * Less than $500,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis