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 29, 1962 The average of daily figures of total member bank reserves held during the ■week ended March 28 decreased a net of $23 million to $19,642 million. Estimated currency and coin of member banks increased $59 million and their reserve balances at the Federal Reserve Banks decreased $82 million. ^ Estimated required reserves decreased $20 million; and estimated excess reserves decreased $3 million to $483 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $397 million, compared with the revised figure of $353 million the week before. The principal changes reducing average reserve balances xrith Federal Reserve Banks were decreases of $198 million in Federal Reserve float, $47 million in member bank borrowings, $44 million in U. S. Government securities held under repurchase agreement, and $43 million in gold stock, and an increase of $94 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $236 million in U. S. Government securities bought outright and a decrease of $97 million in currency in circulation. Total Reserve Bank credit decreased $55 million. As of Wednesday, March 28, holdings of U. S. Government securities bought outright were $169 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $196 million lower, and member bank borrowings were $208 million lower. Outright holdings of bills, notes, and bonds increased $120 million, $19 million, and $30 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Mar. 28, Mar. 21, Mar. 29, Mar. 28, and related items 1962 1962 1961 1962 (][n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright— System account 28,651 +236 +1,927 28,727 Held under repurchase agreement 28 - 44 + 28 52 Acceptances--bought outright 43 1 5 4l Discounts and advances-- Member bank borrowings 86 - 47 + 8 170 Other 65 -- + 56 65 Float 1,248 -198 + 244 918 Total Reserve Bank credit 30,121 - 55 +2,258 29,973 Gold stock 16,666 - 43 - 723 16,610 Treasury currency outstanding 5,587 1 + 179 5,588 52,374 - 97 +1,714 52,171 Currency in circulation 32,951 . - 97 +1,176 32,957 Treasury cash holdings 433 - 13 + 7 437 Treasury deposits with F. R. Banks 481 + 21 16 462 Foreign deposits with F. R. Banks 197 - 22 21 217 Other deposits with F. R. Banks 318 94 - 52 284 Other F. R. accounts (net) 1,028 1 4 1,028 35,^09 - 15 +1,091 35,365"" Member bank reserves: With Federal Reserve Banks 16,966 - 82 + 624 16,786 Currency and coin (estimated) 2,676 + 59 + 225 2,965 Total reserves held 19,642 - 23 + 849 19,751 Required reserves (estimated) 19,159 - 20 + 966 19,181 Excess reserves (estimated) 483 - 3 - 117 570 On March 28, 1962, TJ. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,769 million, a decrease of $6l million for the week and a decrease of $143 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(ft) CONSOLIDATED STATEMENT OF COWDITIOW OF THE TWELVE FEDERAL RESERVE RANKS (in millions of dollars) Change since Mar. 28, Mar. 21, Mar. 29, 1962 1962 1961 A S S E T S Gold certificate account 15,196 - 95 - 848 Redemption fund for F. R. notes 1, i4o 4 + 105 Total gold certificate reserves 157335 - 99 - 743 Cash (4?2) 4l4 12 - 45 Discounts and advances 235 - 208 + 121 Acceptances--"bought outright 4l 1 4 U. S. Government securities: Bought outright-- Bills 2,830 + 120 + 503 Certificates 4,972 - 426 Notes 16,887 + 19 + 586 Bonds 4, 038 + 30 +1,376 Total "bought outright 28,727 + 169 +2,039 Held under repurchase agreement 52 - 196 + 52 Total U. S. Government securities 28,779 - 27 +2,091 Total loans and securities 29,055 - 236 +2, 208 Cash items in process of collection (1,067) 4, 276 -1, 259 + 371 Bank premises 108 1 1 Other assets 355 + 19 + 143 TOTAL ASSETS (1,539) 50,544 -1,588 +1,933 L I A B I L I T I E S Federal Reserve notes (472) 27,946 - 70 + 951 Deposits: Member bank reserves 16,786 - 703 + 794 U. S. Treasurer--general account 462 + 97 - 27 Foreign 217 + 20 - 51 Other 284 + 26 - 81 Total deposits 17,749 - 560 + 635 Deferred availability cash items (1,067) 3,358 - 975 + 208 Other liabilities and accrued dividends 69 -- + 39 TOTAL LIABILITIES (1,539) 49,122 -1,805 +1,833 C A P I T A L A C C O U N T S Capital paid in 453 — + 30 Surplus 888 — + 71 Other capital accounts 81 + 17 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS(l, 539) 50,544 -l,588 +1,933 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*4$ + -.3 i - 2.9$ Contingent liability on acceptances purchased for foreign correspondents 100 3 - 74 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages.____________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 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 168 12 355“ -6o4 16 days to 90 days 37 29 3,731 +453 91 days to 1 year 30 - - 11,807 + 85 Over 1 year to 5 years 10,394 + 39 - - Over 5 years to 10 years - - 2,227 — DigiOtizveedr fo r1 F0R AySEeRa rs -- - - 266 — http://fraseTr.osttloaulisf ed.org/ 235 51 28,779 - 27 Federal Reserve Bank of St. Louis

H.4.l(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20/ 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]Lars) A S S E T S Gold certificate account 15A96 742 3,916 826 1,232 1,081 764 2,515 573 331 651 595 1,970 i,i4o 68 268 69 102 91 68 208 49 26 49 37 105 Redemption fund for F. R. notes Total gold certificate reserves 16,336 810 4,184 895 1,334 1,172 832 2,723 622 357 700 632 2,075 F. R. notes of other Banks 472 18 133 33 33 18 76 33 14 19 15 38 42 Other cash 4i4 27 75 24 35 24 30 79 22 10 13 15 60 Discounts and advances 235 11 31 5 8 18 5 95 6 2 38 4 12 Acceptances: Bought outright 4l — 4l — *“ *• — *» — mm mm "" U. S. Government securities: Bought outright— Bills 2,830 150 700 164 240 179 156 483 114 6l 123 115 345 Certificates 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Notes 16,887 899 4,176 975 1,432 1,069 929 2,885 682 362 736 686 2,056 Bonds 4,038 215 999 233 342 255 222 690 163 87 176 164 492 Total 28,727 1,529 7,105 1,659 2,436 1,818 1,580 4,908 1,159 616 1,252 1,167 3,498 Held under repurchase agreement 52 •» — 52 . - -- -- -- «... -- -- -- -- -- Total U. S. Government securities 28,779 1,529 7,157 1,659 2,436 1,818 1,580 4,908 1,159 6l6 1,167 3,498 Total loans and securities 29,055 1,540 7,229 1,664 2,444 1,836 1,585 5,003 1,165 6l8 1,290 1,171 3,510 Cash items in process of collection 5,343 375 1,039 337 437 372 417 845 224 160 279 257 601 Bank premises 108 3 9 3 8 5 14 24 7 5 6 13 11 Other assets 355 19 89 21 31 22 20 57 13 7 16 16 kk TOTAL ASSETS 52,083 2,792 12,758 2,977 4,322 3,449 2,974 8,764 2,067 1,176 2,319 2,142 6,343 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OP CONDITION OF EACH FEDERAL RESERVE RANK ON MARCH 36, 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 dol]Lars) L I A B I L I T I E S Federal Reserve notes 28,4l8 1, 668 6,577 1,824 2,545 2,288 1,612 5,217 1,225 581 1,170 827 2,884 Deposits: Member hank reselves 16,786 663 4,601 738 1,231 731 878 2,548 577 403 816 976 2,624 U.S. Treasurer-general account 462 30 ,7° 43 22 42 35 48 24 22 41 30 55 Foreign 217 9 i/73 11 19 9 10 28 7 5 8 11 27 Other 284 1 233 1 1 4 1 2 * * 2 1 38 Total deposits 17,749 703 4,977 793 1,273 786 924 2,626 £oq~ 430 86T~ 1,0l8 2,744 Deferred availability cash items 4,425 350 803 275 367 305 358 707 181 131 219 213 516 Other liabilities and accrued dividends ____6SL 4 - 17 4 5 _ 3 4 12 3 2 3 3 9 TOTAL LIABILITIES 50,661 2,725 12, 374 2,896 4,190 3,382 2,898 8,562 2,017 1,144 2,259 2,061 6,153 CAPITAL ACCOUNTS Capital paid in 453 21 123 26 42 21 24 64 16 10 19 26 61 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 81 4 18 4 7 6 ..5 14 ..... 3 2 4 5 . 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52.088 2.23Z 12.758 JL 3U Jb.222 2,974 8,764 2,067 1,176 2,Jl§... 2,142 Contingent liability on accept­ ances purchased for foreign correspondent s 100 5 _ £A>8 6 9 4 5 14 3 2 4 6 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,653 1,723 6,872 1,882 2,698 2,379 1,^99 5,338 1,284 655 1,203 B94~ 3,026 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 40 - - 1 - - - - 4 ... 35 «... - - U. S. Government securities 23,205 1,365 5.600 1,500 2,050 1,665 1,400 4,100 1,010 510 950 755 2,300 Total collateral 31,280 1,795 7,200 2,031 2,820 2,420 1,825 5,600 1,354 670 1,295 970 3,300 1/ After deducting $l44million participations of other Federal Reserve Banks. * Less than 000. Digitized for FRASER 2/ After deducting $72 million particiaptions of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis