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 May 3, 1962 The average of daily figures of total member bank reserves held during the week ended May 2 decreased $100 million to $19*778 million. Estimated cur­ rency and coin of member banks decreased $76 million and their reserve balances at the Federal Reserve Banks decreased $24 million. Estimated required reserves ^ in­ creased $58 million; and estimated excess reserves decreased $158 million to $392 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $329 million, compared with the revised figure of $465 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $149 million in Federal Reserve float, $56 million in U. S. Government securities held under repurchase agreement, $29 million in gold stock, and $22 million in member bank borrowings, and an increase of 789 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $211 million in U. S. Government securities bought outright and a decrease of $112 million in currency in circulation. Total Reserve Bank credit decreased $18 million. As of Wednesday, May 2, holdings of U. S. Government securities bought outright were $4l4 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $21 million lower, and member bank borrowings were $197 million lower. Outright holdings of bills, certificates, and notes increased $373 million, $5 million, and $36 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 2, Apr. 25, May 3 , May 2, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,093 +211 +2,401 29,282 Held under repurchase agreement 95 - 56 + 95 73 Acceptances-- Bought outright 37 - 1 7 36 Held under repurchase agreement —*“ - 1 Discounts and advances-- Member bank borrowings 63 - 22 + 2 88 Other 65 -- + 60 65 Float 1,351 -149 + 285 1,151 Total Reserve Bank credit 30,704 - 18 +2,836 30,695 Gold stock 16,494 - 29 - 896 16,495 Treasury currency outstanding 5,590 + 4. + 170 5,592 52,788 - 44 +2,110 52,782 Currency in circulation 33,132 -112 +1,290 33,173 Treasury cash holdings 420 - 8 + 11 429 Treasury deposits with F. R. Banks 607 + 89 + 35 667 Foreign deposits with F. R. Banks 213 + 4 8 194 Other deposits with F. R. Backs 366 + 12 + 68 4oo Other F. R. accounts (net) 958 - 5 4 959 35,822 35,697 - 19 +1,392 Member bank reserves: With Federal Reserve Banks 17,091 - 24 + 718 16,960 Currency and coin (estimated) 2,687 - 76 + 252 2,781 Total reserves held 19,778 -100 + 970 19,741 Required reserves (estimated) 19,386 + 58 +1,045 19,549 Excess reserves (estimated) 392 -158 - 75 192 On May 2, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5*545 million, a decrease of $98 million for the week and a decrease of $89 million from the comparable date Digitized for FRASER http://fara syere.satloru isafegdo.o.rg/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 2, Apr. 25, May 3, 1962 1962 1961 A S S E T S Gold certificate account 15,057 - 10 - 997 Redemption fund for F. R. notes + 10 + 133 Total gold certificate reserves 16,222 -- - 864 Cash (429) 385 + 7 - 49 Discounts and advances 153 -197 + 77 Acceptances— bought outright 36 - 1 4 U. S. Government securities: Bought outright-- Bills 3,245 +373 + 776 Certificates 4,977 + 5 24 Notes 16,969 + 36 + 517 Bonds 4,091 -- +1,232 Total bought outright 29,282 +4l4 +2,501 Held under repurchase agreement 73 - 21 + 73 Total U. S. Government securities 29,355 +393 +2,574 Total loans and securities 29,544 +195 +2,647 Cash items in process of collection (1,079) 5,294 +212 + 817 Bank premises 107 - 1 1 Other assets 445 + 15 + 135 TOTAL ASSETS (1,508) 51,997 7525 +2,685 L I A B I L I T I E S Federal Reserve notes (42 9) 28,122 + 38 +1,114 Deposits: Member bank reserves 16,960 - 33 + 513 U. S. Treasurer— general account 66 7 +116 + 215 Foreign 194 - 26 12 Other 4oo + 85 + 85 Total deposits 18,221 +142 + 801 Deferred availability cash items (1,079) 4,143 +230 + 634 Other liabilities and accrued dividends 75 + 2 + 37 TOTAL LIABILITIES (l, 508) 50,561 +412 +2,58l> C A P I T A L A C C O U N T S Capital paid in 454 -- + 31* Surplus 888 -- + 71 Other capital accounts 94 + 16 3* TOTAL LIABILITIES AND CAPITAL ACCOUNTS(l, 508) 51,997 +428 +2,665 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) 34.7$ -.1 ia - 3-4$ Contingent liability on acceptances purchased for foreign correspondents 97 - 5 - 51 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. ** May 3, 1961 figures revised._________________________________________________ MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, MAY 2, 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 87 12 2,459 +1,793 16 days to 90 days 51 2k 2,009 -1,549 91 days to 1 year 15 - - 11,887 + 135 Over 1 year to 5 years 10,487 + 14 Over 5 years to 10 years 2,247 — — - - DigitizOedv feorr F R1A0S EyRe ars 2 66 — - - - http://fraser.stlouisfed.org/ Federal Rese T rv o e t B a a l nk of St. Louis 153 35 29,355 + 393

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON M Y 2, 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 dollars) A S S E T S Gold certificate account 15,057 799 3,882 879 1,206 987 789 2,526 580 322 628 606 1,853 Redemption fund for F. R- notes 1,165 72 275 70 101 97 67 207 49 27 ^9 37 114 Total gold certificate reserves 16,222 DC *H M 5 7 949 1,307 1,084 856 2,733 629 3^9 677 643 1,967 F. R. notes of other Banks 429 24 122 31 30 17 69 33 14 19 13 22 35 Other cash 335 26 74 18 32 21 35 66 21 10 11 l4 57 Discounts and advances 153 12 23 4 10 11 6 51 3 2 13 7 11 Acceptances: Bought outright 36 - - 36 - — ~ — — — *“ — ~ — ** **■ " "" U. S. Government securities: Bought outright-- Bills 3,245 168 804 184 275 214 173 544 129 70 142 131 4ll Certificates 4,977 253 1,232 283 422 328 264 835 199 108 218 201 629 Notes 16,969 880 4,201 964 1,^37 1,119 901 2,845 677 368 746 686 2,145 Bonds 4,091 212 1,013 233 346 270 217 686 163 89 180 165 517 Total 29,232 1,518 7,250 1,664 2,48o 1,931 1,555 4,910 1,168 635 1,286 1,183 3,702 Held under repurchase agreement 73 73 M - ~ - — -- -- -- -- -- -- Total U. S. Government securities 29,355 1,518 7,323 1,664 2,48o 1,931 1,555 4,910 1,168 635 1^ 286 1,183 3,702 Total loans and securities 29,5^ 1,530 7,382 1,668 2,490 1,942 1,561 4,961 1,171 637 1,299 1,190 3,713 Cash items in process of collection 6,373 507 1,167 393 513 444 498 1,068 252 178 320 266 767 Bank premises 107 3 9 3 8 5 14 24 6 5 6 13 11 Other assets 445 23 111 25 38 28 24 72 18 10 20 19 57 TOTAL ASSETS 53,505 2,984 13,022 3,087 4,4l8 3,5^1 3,057 8,957 2,111 1,2C8 2,346 2,167 6,607 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BA1TK OH MAY 2, 1962 H-4.l(c) 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 dollars) l i a b i l i t i e s Federal Reserve notes 28,551 1,690 6,628 1,824 2,538 2, 305 1,626 5,202 1, 225 584 1,180 821 2,928 Deposits: Member bank reserves 16,960 717 4,558 815 1,239 724 879 2, 582 592 413 817 978 2,646 U.S. Treasurer-general account 66? 37 108 22 20 74 35 94 31 31 42 52 121 Foreign 194 9 1/50 11 19 9 10 28 7 5 8 11 27 Other 400 1 348 2 1 4 1 1 * * 1 1 4o Total deposits 18,221“ 764 ~ 5, o64 850 1,279 811 925 2, 705 630 449 888 1,642 2,834 Deferred availability cash items 5,222 458 922 327 46l 354 425 833 203 l4o 235 220 644 Other liabilities and accrued dividends 75 4 20 4 7 4 4 12 3 2 3 ______ 1. 9 TOTAL LIABILITIES 52,069 2,916 12,634 3,005 4,285 3,474 2,980 8,752 2, 06l 1,175 2,286 2, 086 6,415 CAPITAL ACCOUNTS Capital paid in 454 21 123 26 42 21 24 64 16 11 19 26 61 Surplus 888 42 243 51 83 4o H 124 31 20 37 50 120 Other capital accounts 94 5 22 5 8 6 6 ,____ il_ ______ 1_ 2 k 5 11 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,505 2,984 13,022 3,087 4,4l8 3,541 _._8^5jL 2,111 1,208 2^346. 2,167 6,607 Contingent liability on accept­ ances purchased for foreign correspondents ___________ .... 9CL. 4 2/-g9- 6 9 4 ______ _____ 23- 3 _______2_ k 5 -------13- FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 29,792" 1,735 6,945 1,887 2,698 2, 394 1, 696 5,327 1,278 667 1, 211 888 3,066 Collateral for F. R. notes: Gold certificate account 7,780 450 1,600 530 770 680 425 1, 400 340 160 310 215 900 Eligible paper 12 -- 1 -- -- -- 1 -- 10 - - U. S. Government securities p3. 310 1. ^65 5.600 1. 500 2.050 1.750 H r£- O O 4.100 1.010 .5.3,0— . 950-____255— 2,900- Total collateral 31,102 1,815 7, 200 2, 031 2,820 2, 430 1,825 5,500 i,35i 690 l, 270 910 3, 200 1/ After deducting $lhk million participations of ot i h _ e _ r Federal T R O e /-\ sr~t e/-\ rv r e ^ ‘ B D a o n rlkirsa. * Le£.s than $$oo,CCQ. 2/ After deducting $ 68 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis