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 April 5, 1962 The average of daily figures of total member bank reserves held during the weelc ended April 4 decreased a net of $15 million to $19*631 million. Estimated currency and coin of member banks decreased $129 million and their reserve balances at the Federal Reserve Banins increased $114 million. Estimated required reserves decreased $52 million; and estimated excess reserves increased $37 million to $492 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $$17 million* compared with the revised figure of $369 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $345 million in U. S. Government securities bought outright and $126 million held under repurchase agreement* and a decrease of $8l million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $219 million in Federal Reserve float and $57 million in gold stock* and increases of $99 million in currency in circulation and $33 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $240 million. As of Wednesday* A p ril 4, holdings of U. S. Government securities bought outright were :$480 m illion higher than a ■•wools earlier* U. S. Government securities held under repurchase agreement were $81 m illion higher* and member bank borrowings were $63 m illion lower. Outright holdings of bills* notes*and bonds increased $381 m illion* $46 m illion, and $53 m illion* respectively. Average;s of daily figures Member bank reserves* Week ended Change from week ended Wednesday, Reserve Bank credit, Apr.. 4* Mar. 28, Apr. 5* Apr. 4, and related items 1962 1962 1961 1962 (]"n millions of dollars) Reserve Eank credit: U. S- Government securities-- Bought outright--System account 28,996 +345 +2*160 29,207 Held under repurchase agreement 154 +126 + 120 133 Acceptances--bought outright 41 - 2 5 4o Discounts and advances-- Member bank borrowings 75 - 11 - 32 107 Other 65 -- + 57 65 Float 1*029 -219 -1- 87 1,005 Total Reserve Bank credit 30*361 +24o +2*388 30*557 Gold stock 16*609 - 57 - 779 16*610 Treasury currency outstanding 5*591 + 4 + 181 5*593 52,561 +187 +1*791 52*766 Currency in circulation 33,050 + 99 +1*147 33*160 Treasury cash holdings 436 + 3 + 32 444 Treasury deposits with F. R. Banks 4oo - 81 - 29 297 Foreign deposits with F. R. Banks 220 + 23 - 30 199 Other deposits with F. R. BanSs 351 + 33 - 37 356 Other F. R. accounts (net) 1,025 - 3 3 l,oi4 357481 + 72 +1*079 35*470 Member bank reserves: With Federal Reserve Banks 17*080 +114 + 711 17*289 Currency and coin (estimated) 2,551 -129 + 218 2*663 Total reserves held 19*631 - 15 + 929 19*952 Required reserves (estimated) 19*139 - 52 + 972 19*205 Excess reserves (estimated) 492 + 37 - 43 747 On A p ril 4, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5*736 m illion* a decrease of $33 m illion for the week and a decrease of $267 m illion 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 FEDEBAL RESERVE BANKS (in millions of dollars) _____ Change since Apr. Mar. 2&, Apr. 5, 1962 1962 1961 A S S E T S Gold certificate account 15,196 — - 86l Redemption fund for F. R. notes 1,137 - 3 + 98 Total gold certificate reserves 167333 - 3 - 763 Cash (1+10) 395 - 19 - 50 Discounts and advances 172 - 63 + 51 Acceptances— bought outright 1+0 - 1 5 U. S. Government securities: Bought outright-- Bills 3,211 + 381 + 588 Certificates l+,972 — - 526 Notes 16,933 + 56 + 550 Bonds l+» 091 53 +1,371 Total bought outright 29,207 + “55o +2, 083 Held under repurchase agreement 133 + 81 + 130 Total U. S. Government securities 2 0 + 6 + 561 +2,213 Total loans and securities 29,552 4* 597 +2,259 Cash items in process of collection (971) i+,1+91 + 215 + 353 Bank premises 108 — 1 Other assets 385 30 + 153 TOTAL ASSETS (1,381) 51,265 4* 720 +1,951 L I A B I L I T I E S Federal Reserve notes (1+10) 28,130 4* 185 +1,025 Deposits: Member bank reserves 17,289 4- 503 + 566 U. S. Treasurer— general account 297 - 165 + 75 Foreign 199 - 18 - 89 Other 356 + 72 28- Total deposits 157151 4- 392 + 525 Deferred availability cash items (971) 3,586 + 128 + 251 Other liabilities and accrued dividends 75 + 5 + m TOTAL LIABILITIES (1,381) 59,831 4- 709 +17555 C A P I T A L A C C O U N T S Capital paid in 553 — + 30** Surplus 888 — + 71 Other capital accounts 92 4- 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 381 ) 51,265 + 720 +1,951 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) 35.0# - .5$ - 2.9# Contingent liability on acceptances purchased for foreign correspondents 102 2 - 69 * Figures in parentheses are 11x6 eliminations made in the consolidating process,; see comparable figures on combined basis on the following pages. ** April 5, 1961 figures revised. ____________________________________________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 5, 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 119 12 728 +375 l6 days to 90 days 38 28 3,772 + 5l 91 days to 1 year 15 — 11,855 + 57 Over 1 year to 5 years - - — 10,573 + 79 Over 5 years to 10 years — 2,257 + 20 Over 10 years - - -- 266 -- Digitized forT FoRtAaSElR 172 5o 29,350 +56I http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 4, 1962 San New Phila­ Cleve- Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Balias Fran­ York delphia land mond Louis apolis City cisco (In millions of dol]_ars) A S S E T S Gold certificate account 15U96 758 3,872 84l 1,243 1,128 7 66 2,324 588 346 669 601 2,060 Redemption fund for F. R. notes 1,137 67 2 68 70 101 90 68 207 49 26 49 37 105 Total gold certificate reeerT'-es 16,333 825 4,l4o 911 1,344 1,218 834 2,531 637 372 718 638 2,165 F. R. notes of other Banks 410 16 119 28 30 14 70 28 9 18 14 30 34 Other cash 395 26 77 21 34 20 30 77 21 10 11 l4 54 172 12 27 6 7 10 11 35 3 2 8 4o 11 Discounts and advances Acceptances: Bought outright 4o 4o - - — - - - - - - - - - - - - — — U. S• Government securities: B ought out r i ght-- Bills 3,211 171 794 185 272 203 177 549 130 69 i4o 130 391 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Certificates 16,933 901 4,188 978 1,436 1,072 931 2,893 683 363 738 688 2,062 Notes 4,091 218 1,011 237 347 258 225 699 165 88 178 166 499 Bonds Total 29,20'Y 1,555 7,223 1,687 2,477 1,848 1,606 4,991 1,178 626 1,273 1,186 3,557 Held under repurchase agreement 133 133 -- -- __ -- -- -- -- -- -- -- Total U. S. Government securities 29,34o 1,555 7,356 1,687 2,477 1,848 1,606 4,991 1,178 626 1,273 1,186 3,557 Total l.oans and securities 29,552 1,567 7,423 1,693 2,484 1,858 1,617 5,026 1,181 628 l,28l 1,226 3,568 Cash items in process of collection 5,462 426 l,l4l 329 422 377 4l6 848 225 162 279 227 610 Bank premises 108 3 9 3 8 5 l4 24 7 5 6 13 11 Other assets 285 19 93 21 34 24 21 71 15 8 17 16 46 TOTAL ASSETS 52,645 2,882 13,002 3,006 4,356 3,516 3,002 8,605 2,095 1,203 2,326 2,164 6,488 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT' OF CONDITION OF “EACH FEDERAL RESERVE BANK ON APRIL 4, 1962 H-4.l(c) San Total Boston New Phila­ Cleve­ Rich- Atlanta Chicago St. Minne- Khnsas Dallas Fran­ York delphia land : mond Louis apolis I City cisco (In millions of dol]Lars) L I A B I L_I T I E S Federal Reserve notes 2875^0 1,677 6,608 1,822 2,547 2, 310 1,627 5,219 1, 228 581 1,178 822 2,921 Deposits: Member bank reserves 17, 289 725 4.71+0 801 1,293 775 902 2, 376 6ll 427 842 1,029 2,768 U.S. Treasurer-general account 297 21 1+1+ 15 9 37 26 50 13 21 21 26 14 Foreign 199 9 1/59 11 18 9 10 27 7 4 8 11 26 Other 356 * 308 1 1 1+ 1 * * * 2 1 38 Total deposits 18, l4l 755 5,151 828 1, 321 825 939 2,453 631 452 873 1,067 2,846 Deferred availability cash items 4,457 379 836 270 349 310 356 716 184 135 211 191 52C Other liabilities and accrued dividends 74 k 19 1+ 6 4 1+ 12 2 3 4 3 9 TOTAL LIABILITIES 51,212 2,815 12,6l4 2,924 4,223" 3,449 2,926 "8,4oo " 2,045 1,171 2,2 66 2, O83 6,296 CAPITAL ACCOUNTS Capital paid in 453 21 123 26 1+2 21 24 64 16 10 19 26 61 Surplus 888 1+2 2I+3 51 83 l+o 47 124 31 20 37 50 120 Other capital accounts 92 1+ 22 5 8 6 5 17 3 2 4 5 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,6k 5 2,882 13,002 3,006 4,356 3,516 3,002 8,605 2,095 1,203 2, 326 2,164 6,488 Contingent liability on.accept- • ances purchases for foreign c orre sp ondent s________________ 102 5 2/28 6 10 5 5 14 3 2 4 6 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding '29,684 1, 730 6,914 l, 675 2,695 2,362 1,692 5,326 1,262 obi 1,202 693 5, U34 Collateral for F. R. notes: Gold certificate account 7,935 1+30 1,600 530 770 755 425 1,400 340 160 310 215 1, 000 8 ~ - 2 -- -- -- 1 5 - — «. — Eligible paper U. S. Government securities 23,205 1, 365 5,600 1,500 2, 050 1,665 1,4oo 4,100 1,010 510 950 755 2,300 Total collateral 31,148 1,795 7, 200 2, 032 2,820 2,1+20 l, 825 5,500 1, 351 670 1,265 970 3,300 l/ After deducting $140 million ^ * Less than $500,000. 2/ After deducting $ 74 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis