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 H.4.1 April 12, 1962 The average of daily figures of total member baulc reserves held during the i-reek ended April 11 decreased $96 million to $19,566 million. Estimated currency and coin of member banks decreased $43 million and their reserve balances at the Federal Reserve Banks decreased $53 million. Estimated required reserves decreased $104 million; and estimated excess reserves increased $8 million to $531 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $471 million, compared with the revised figure of $448 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were increases of $224 million in currency in circulation, $58 mil­ lion in Treasury deposits with Federal Reserve Banks, and $32 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $138 million in U. S. Government securities bought outright and $127 million in Federal Reserve float, and a decrease of $24 million in "other" deposits with Fed­ eral Reserve Banks. Total Reserve Bank credit increased $242 million. As of Wednesday, April 11, holdings of U. S. Government securities bought outright were $2l4 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $70 million higher, and member bank borrowings were $155 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Apr. 11, Apr. 4, Apr. 12, Apr. 11, and related items 1962 1962 1961 1962 (][n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 29,134 +138 +2,280 28,993 Held under repurchase agreement 147 - 7 + 133 203 -- Acceptances— bought outright 4i 5 39 Discounts and advances-- Member bank borrowings 60 - 15 + 8 262 Other 65 -- + 58 65 Float 1,156 +127 + 152 1,031 Total Reserve Bank credit 30,603 +242 +2,625 30,593“ Gold stock 16,609 -- - 780 16,610 Treasury currency outstanding 5,589 - 2 + 178 5,585 52,801 +240 +2,024 52,788 Currency in circulation 33,274 +224 +1,267 33,342 Treasury cash holdings 432 - 4 + 26 431 Treasury deposits with F. R. Banks 458 + 58 + 60 564 Foreign deposits with F. R. Banks 252 + 32 + 4o 260 Other deposits with F. R. Banks 327 - 24 + 17 365 Other F. R. accounts (net) 1,030 + 5 + 16 1,026 35,774 +293 +l,42f 35,988 Member bank reserves: With Federal Reserve Banks 17,027 - 53 + 598 16,800 Currency and coin (estimated) 2,539 - 43 + 186 2,874 Total reserves held 19.566 - 96 + 784 197874 Required reserves (estimated) 19)035 -io4 + 834 19,092 Excess reserves (estimated) 531 + 8 - 50 582 On April 11, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,427 million, a decrease of 89 mil­ lion for the week and a decrease of $510 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ft.4.1(a) CONSOLIDATED STATEMENT 0? CONDITION OF TEE TWELVE FEDERAL ftESBEVE BANKS (in millions of dollars) Change since Apr. 11, kor. 4, Apr. 12, 1962 1962 1961 A S S E T S Gold certificate account 15,191 - 5 . 865 Redemption fund for F. R. notes 1,153 + 16 + 116 Total gold certificate reserves 16,344 + 11 - 749 * Cash (371) 362 - 33 - -69 Discounts and advances 327 +155 + 210 Acceptance s - -b ou girt out right 39 - 1 6 U. S. Government securities: Bought outright— Bills 2,997 -214 + 713 Certificates 4,972 - - - 305 Notes 16,933 — + 511 Bonds 4,091 -- +1,320 Total Bought outright 28,993 +215 +2,239 Held under repurchase agreement 203 + 70 + 148 Total U. S. Government securities 29,I9S -i44 +2,387 Total loans and securities 29,562 + 10 +2,591 Cash items in process of collection (965) 4,606 +115 + 194 Bank premises 108 -- 1 Other assets 394 + 9 + 139 TOTAL ASSETS (1,336) 51,376 +112 +2,105 L I A B I L I T I E S Federal Reserve notes (371) 28,284 +154 +1,148 Deposits: Member bank reserves 16,800 -489 + 375 U. S. Treasurer--general account 564 +267 + 162 Foreign 260 + 61 + 87 Other 365 + 9 + 20 Total deposits 17,989 -152 + 644 Deferred availability cash items (965) 3,575 + 89 + ill Other liabilities and accrued dividends 76 + 2 + 45 TOTAL LIABILITIES (1,336 ) 49,924 + 93 +1,948 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 ill + 19 + 56 TOTAL LIABILITIES AND CAPITAL ACCOUNTS(l, 336) 51,376 +112 +2,105 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- C - 3-1# Contingent liability on acceptances purchased for foreign correspondents 102 57 * Figures in parentheses are the eliminations made in the consolidating process; _____see comparable figures cn combined basis on the following pages._______ MATURITY DISTRIBUTION OF LOANS AND SECURIT1EC, APRIL 11, 1952 (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 275 12 644 - 84 16 days to 90 days 37 27 3,687 - 85 91 days to 1 year 15 -- 11,879 + 25 Over 1 year to 5 years — 10,473 — Over 5 years to 10 years -- 2,247 — Over 10 years 266 — Digitized for FTRoAtSaERl 327 39 297I9S http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT O7 C0i.T)ITI0ir OF EACH 'FEDERAL RESERVE BANK ON APRIL 11, 1962 ----T 11 ck-Vu Total |Boston Hew Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (ih millions of dollLars) A S S E T S Gold certificate account 15,191 696 3,717 858 1,227 1,099 762 2,4o8 590 329 662 591 2,252 Redemption fund for F.- R• notes 1,153 67 277 69 103. 89 67 207 49 26 49 37 115 Total gold certificate reserves 16,344 753” 37994"“ 927 1,328 1,188 " 529“ 2,615 639 355 711 628 2,367 F. R. notes of other Banks 371 13 118 22 21 14 64 24 8 17 12 24 34 Other cash 362 25 73 17 32 19 29 65 20 9 10 12 51 Discounts and advances 327 10 67 4 54 9 18 84 2 1 36 30 12 Acceptances: Bought outright 39 — 39 “ - - - — — *" — *• — *” *• mm mm. U. S. Government securities: Bought outright — Bills 2,997 159 741 173 254 190 165 512 121 64 131 122 365 Certificates 4,972 265 1,230 287 422 315 273 850 200 106 217 202 605 Notes 16,933 901 4,188 978 1,436 1,072 931 2,893 683 363 733 688 2,062 Bonds 4,091 218 1,011 237 347 258 225 699 165 88 178 166 499 Total 28,993 1,543 7,170 1,675 2,459 1,835 1,594 4,954 1,169 621 1,264 1,178 3,531 Held under repurchase agreement 203 — 203 - - - - - - -- -- -- -- Total U. S. Government securities 29,196 1,543 7,373 1,675 2,459 1,835 1,594 4,954 1,169 621 1,264 1,178 3,531 Total loans and securities 29,562 1,553 7,479 1,679 2,513 1,844 1,612 5,038 1,171 622 1,300 1,208 3,543 Cash items in process of collection 5,571 4o6 1,049 349 422 396 456 879 248 171 296 237 662 Bank premises 108 3 9 3 8 5 14 2k 7 5 6 13 ll Other assets 394 20 100 22 34 24 22 65 17 ____ il_ hQ TOTAL ASSETS 52,712 2,783 12,822 3,019 4,358 3,490 3,026 8,710 2,109 1,188 2,352 2,139 6,716 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF. CONDITION OF EACH FEDEPAL RESERVE BANK OH APRIL 11,■ 1962 H.4.1(e) 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 28,655 1,689 6,624 1,829 2,55^ 2, 314 1,637 5,232 1,232 587 1,185 823 2,94 Deposits: Member bank reserves 16,800 608 4,527 766 1,243 725 880 2,412 586 397 8l6 98 3 2, 857 U.S. Treasurer-general account 564 40 109 37 28 45 26 74 27 26 46 37 71 Foreign 260 12 1/78 15 24 11 13 35 8 6 10 14 34 Other 365 * 311 1 * 4 2 2 1 * 2 1 11 Total deposits 17,989 660 5,025 819 1,295 783 921 2,523 622 429 874 1,035 3,00; Deferred availability cash items 4,540 363 760 284 367 320 387 735 201 137 229 196 561 Other liabilities and accrued c dividends 76 3 21 4 7 5 4 12 3 2 3 TOTAL LIABILITIES 51,260 2,715 12,430 2,936 4,223 3,422 2,94 8, 502 2,058 1.155" 2,291 2, 057 6, 522 CAPITAL ACCOUNTS Capital paid in 4? 3 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 ‘ 111 5 26 6 10 7 6 20 4 3 ______ 6 _____U- TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,712 2? 783 12,822 3,019_ 4,358 3,490 3,026 8,710 _2^09 1,188 2,352 _2,i22_ 6,716 Contingent liability on accept­ ances purchased for foreign correspondents 102 5 2/28 6 10 5 5 14 3 2 4 6 i4 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,821 1,737 6,929 1,878 2,693 2,391 1,705 5,342 1,291 666 1,213 3,oo( Collateral for F. R. notes: Gold certificate account 430 1,600 530 770 755 425 1, 430 340 160 310 215 1, 000 * * 33 E ligib le paper 1,365 5,600 1,500 2,050 1.665 1,400 4,100 1,010. 510 950 755 2, 30P_ JJ. S. Government securities 2,030 2,820 2,420 1,825 5,500 1,350 670 1,293 970 3,300 .To tal collateral 1,795 7,200 Digitized1 f/or FARfAtSeERr deducting &182 million participations of other Federal Reserve Banks, * Less than $500,000• http://fra■sge/r. stAlofutisfeerd. ordge/ ducting $ 74 million participations of other Federal Reserve Baniis. Federal Reserve Bank of St. Louis