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 10, 1962 The average of daily figures of total member bank reserves held during the -week ended May 9 increased a net of $12 million to $19,880 million. Estimated currency and coin of member banks, decreased $266 million and their reserve balances at the Federal Reserve Banks increased $278 million. Estimated required reserves decreased $44 million; and estimated excess reserves increased $56 million to $514 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $468 million, compared with the revised figure of $395 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $374 million in U. S. Government securities bought outright and $72 million held under repurchase agreement, and a decrease of $105 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $106 million in Federal Reserve float, and an increase of $135 million in currency in circulation. Total Reserve Bank credit increased $321 million. As of Wednesday, May 9, holdings of U. S. Government securities bought outright were $107 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $8 million lower, and member bank borrowings were $40 million lower. Outright holdings of bills, certificates, notes and bonds increased $36 million, $5 million, $65 million, and $1 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 9, May 2, May 10, May 9, and related items 1962 1962 -1961____ 1962 (][n m illions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 29,467 +374 +2,675 29,389 Held under repurchase agreement 167 + 72 + 158 65 Acceptances— bought outright 34 - 3 7 33 Discounts and advances— Member bank borrowings 46 - 17 - 18 48 Other 66 + l + 60 65 Float 1,245 -106 + 242 979 Total Reserve Bank credit 31,025 +321 +3,111 30,579 16,490 - 4 - 900 16,465 Gold stock Treasury currency outstanding 5,594 + 4 + 172 5,594 53,109 +321 +2,383 52,638 Currency in circulation 33,267 +135 +1,299 33,366 419 - l 1 422 Treasury cash holdings 502 -105 + 106 388 Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks 224 + ll + 20 221 Other deposits with F. R. Banks 372 + 6 + 68 337 Other F. R. accounts (net) 956 - 2 5 955 35,739 +“52 +1,486 35,689 Member bank reserves: With Federal Reserve Banks 17,369 +278 + 895 16,948 Currency and coin (estim ated) 2,5H -2 66 + 231 2,827 Total reserves held 19/880 + 12 +1,126 19,775 Required reserves (estim ated) 19,366 - 44 +1,090 19,307 Excess reserves (estim ated) 514 + 56 + 36 , 468 On May 9, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,622 million, an increase of $77 million for the week and a decrease of $38 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) Change since May 9, May 2, May 10 1962 .-126,2____ ___13.6.1- A S S E T S Gold certificate account 15, 042 - 15 -1,012 Redemption fund for F. R. notes 1,157 - 8 + 129 Total gold certificate reserves 16,199 - 23 - Q63 7v Cash (371) 361 - 24 - 48 Discounts and advances 113 - 4o - 109 Acceptances— bought outright 33 - 3 6 U. S« Government securities: Bought outright-- Bills 3,281 + 36 + 7 86 Certificates 4,982 + 5 + 65 Notes 17,034 + 65 + 528 Bonds 4,092 + l +1,109 Total bought outright 29,389 +107 +2,488 Held tinder repurchase agreement 65 - 8 + 50 Total U. S- Government securities W ?uf + 99 +2,538 Total loans and securities 29,600 + 56 +2,423 Cash items in process of collection (914) 4,809 -485 + 501 Bank premises 107 -- 1 Other assets 466 + 21 + 140 TOTAL ASSETS . . ' (1,285) 51, 542 -455 +2,132 L I A B I L I T I E S Federal Reserve notes _ • (371) 28,290 +168 +1,147 Deposits: Member bank reserves 16,948 - 12 + 432 U. S. Treasurer--general account 388 -279 - 58 Foreign 221 + 27 + l Other 337 - 63 + 22 Total deposits 17,894 -327 + 397 Deferred availability cash items (914) 3,830 -313 + 456 Other liabilities and accrued dividends 76 + 1 + 33 TOTAL LIABILITIES (1,285) 50, 090 -471 +2,033 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 110 + l6 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS285) 51,51+2 -455 +2,132 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) 34.8$ .1 $ Contingent liability on acceptances purchased for foreign correspondents 98 + 1 - 45 * Figures in parentheses are the eliminations made in the consolidating process, 300 comparable figures on combined basis on uhe following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 9, 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 Changes Discounts and advances Acceptances Holdings during week Within 15 days 47 12 2, 347 -112 16 days to 90 days 51 21 2,'215 +206 91 days to 1 year 15 - - 11,875 - 12 Over 1 year to 5 years 10,504 + 17 Over 5 years to 10 years 2,247 - - - - - - Over 10 years 266 Digitized for FRASER - * — http://fraser.stlo T u o is t fe a d. l org/ 113 33 29,454 + 99 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 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) A S S E T S Gold certificate account 15,042 745 3,557 911 1,217 979 823 2,624 580 301 675 598 2,032 Redemption fund for F. R. notes 1,157 71 273 70 100 94 67 206 50 27 49 36 12.4 Total gold certificate reserves l6>l$9 816 3,830 981 1,317 1,073 890 2,830 630 328 724 634 2,146 F. R. notes of other Banks 371 17 114 25 21 15 60 29 9 17 12 17 35 Other cash 361 24 73 16 29 20 32 63 20 9 9 12 54 Discounts and advances 113 6 20 5 14 4 5 21 3 5 6 6 18 Acceptances: Bought outright 33 -- 33 -- -- - *“ — — "* - mm mm U. S- Government securities: Bought outright— Bills 3,281 170 812 186 278 217 174 550 131 71 144 133 415 Certificates 4,982 258 1,234 283 422 328 265 835 199 108 219 201 630 Notes 17,034 884 4,217 968 1,442 1,123 905 2,856 680 369 748 689 2,153 Bonds 4,092 212 1,013 233 347 270 217 686 163 89 180 165 517 Total 29,389 1,524 7,276 1,670 2,489 1,938 1,561 4,927” 1,173 w r 1,291 l,l86” 3,715 Held under repurchase agreement 65 «, _ 65 - - -- -- -- -- -- -- -- -- — Total U. S. Government securities 29,454 1,524 7,341 1,670 2,489 1,938 1,561 4,927 1,173 637 1,291 1,188 3,715 Total loans and securities 29,600 1,530 7,394 1,675 2,503 1,942 1,566 4,948 1,176 642 1,297 1,194 3,733 Cash items in process of collection 5,723 423 1,022 365 485 409 529 884 249 172 288 234 663 Bank premises 107 3 9 3 8 5 14 24 6 5 6 13 11 Other assets 466 24 116 26 40 29 25 76 18 11 21 21 59 TOTAL ASSETS 52,827 2,837 12,558 3,091 4,403 3,493 3,116 8,854 2,108 1,184 2,357 2,125 6,701 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 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 28,661 1,696 6,65l 1,825 2,555 2, 308 1,635 5,228 1,228 588 1,185 825 2,958 Deposits: Member hank reserves 16,958 676 5, 286 830 1,251 757 891 2,6lk 599 399 837 968 2,850 U-S. Treasurer-general account 388 21 74 23 20 29 36 16 2k 16 35 37 57 Foreign 221 10 1/66 12 20 10 11 30 7 5 9 12 29 Other 337 * 283 1 1 3 1 1 l * 2 1 53 Total deposits 707 " ^ 709"— 1,292 799 939 2, 66l “ 631 520“ 883” 1,018 2,969 Deferred availability cash items 5, 755 361 795 315 52 6 313 56l 7^5 196 i5i 225 197 570 Other liabilities and accrued dividends 76 5 20 5 6 5 5 13 2 2 3 3 10 TOTAL LIABILITIES 51,375 2,768” 12,165” 37568““ 5, 269" 3,^25 3,039 87657“ 2, 057 1,151 2,296“ 2,053 67567" CAPITAL ACCOUNTS Capital paid in 555 21 123 26 52 21 25 6k 16 11 19 26 61 Su S r T plus X 888 52 2U3 51 83 5o kl 12k 31 20 37 50 120 Other capital accounts 110 6 27 6 9 7 6 19 k 2 5 6 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,827 2, 837 12,558 3,091 5, 503 3, ^93 3,116 8,854 2,108 l, 185 2,357 2,125 6,701 Contingent liability on accept­ ances purchased for foreign correspondents 98 5 aza. 6 9 5 5 Ik 3 2 k 6 13 FEDERAL RESERVE AGENTS’ ACCOUNTS F. R. notes outstanding 1,737 6,93^ “17678“ 2,765 2, 392 1, 69b 5,352 l, 278 665 1, 219 892 3,093 29,639™ Collateral for F. R. notes: Gold certificate account 7,780 550 1,600 530 770 680 525 1,500 350 160 310 215 900 Eligible paper 6 -- -- 1 -- — -- -- 1 -- 5 - “ “ - U. S. Government securities 2^,^10 1,^65 5.600 1.500 2,050 1,750 1—1 -4- O O 5.100 1,010 570 ....9-5P— .......155— 2, 700 Total collateral 31,096 1,815 7,200 2, 031 2,820 2,530 1,825 5,500 1,351 690 l, 265 970 3, 200 1/ After deducting $155 million participations of other Federal Reserve Banks. Digitized for FRASER * Less than $500,000. 2/ After deducting $ 71 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis