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 17, 1962 The average of daily figures of total member bank reserves held during the week ended May 16 decreased a net'of $83 million to $19,769 million. Estimated cur­ rency and coin of member banks .increased $188 million and their reserve balances at the Federal Reserve Banks decreased $271 million. Estimated required reserves de­ creased $78 million; and estimated excess reserves decreased $5 million to $452 mil­ lion. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $388 million, compared with the revised figure of $4ll million the week before. The principal changes reducing average reserve balances with Federal Re­ serve Banks were decreases of $l46 million in U. S. Government securities held under repurchase agreement and $34 million in gold stock, and increases of $139 million in currency in circulation, $35 million in Treasury deposits with Federal Reserve Bank5 and $40 million in "other" F.R. accounts (net). The principal offsetting changes were increases of $44 million in U. S. Government securities bought outright and $31 million in Federal Reserve float, and a decrease of $30 million in "other" de­ posits with Federal Reserve Banks. Total Reserve Bank credit decreased $55 million. As of Wednesday, May 16, holdings of U. S. Government securities bought outright were $65 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $65 million lower, and member bank borrowings were $167 million higher. Oubilght holdings of bills, notes, and bonds decreased $77 million, $42 million, $340 million, respectively, and certificates increased $524 million. Changes in holdings of certificates, notes, and bonds largely reflected the acquisition of $2,164 million of the new issue of certificates in exchange for $1,666 million of certificates and $138 million of notes which matured May 15, 1962, and $360 million of bonds maturing June 15, 1962. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 16, May 9, May 17, May l6, and related items 1962 1962 1961 1962 (3[n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,511 + 44 +2,828 29,454 Held under repurchase agreement 21 -146 - 21 -- Acceptances--bought outright 33 - 1 7 33 Discounts and advances-- Member bank borrowings 64 + 18 - 109 215 Other 65 - 1 + 59 65 Float 1,276 + 31 + 39 1,451 Total Reserve Bank credit 30,970 - 55 +2,790 31,218 Gold stock 16,456 - 34 - 939 16,435 Treasury currency outstanding 5,595 + 1 + 171 5,597 53,021 - 88 +2,021 53,250 Currency in circulation 33,406 +139 +1,325 33,378 Treasury cash holdings 423 + 4 1 430 Treasury deposits with F. R. Banks 537 + 35 - * 13 627 Foreign deposits with F. R. Banks 219 - 5 + 13 211 Other deposits with F. R. Banks 342 - 30 + 38 361 Other F. R. accounts (net) 996 + 4o + 12 1,135 35,923 +18S +1,374 36,142 Member bank reserves: With Federal Reserve Banks 17,098 -271 + 647 17,108 Currency and coin (estimated) 2,671 +188 + 213 2,898 Total reserves held 19,769 - 83 + 860 20,006 Required reserves (estimated) 19,317 - 78 +1,010 19,373 Excess reserves (estimated) 452 - 5 - 150 633 On May 16, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,610 million, a decrease of $12 mil­ lion for the week and a decrease of $52 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.^.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since May 16, May 9, May 17, 1962 1962 1961 A S S E T S Gold certificate account 15,007 - 35 -1,056 Redemption fund for F. R. notes 1,158 + 1 + 132 Total gold certificate reserves 16,165 - 3^ - 92S Cash (370) 360 1 - 39 Discounts and advances 280 + 167 - 502 Acceptances— bought outright 33 -- 4 U. S- Government securities: Bought outright— Bills 3,20k - 77 + 799 Certificates 5,506 + 52k -1,055 Notes 16,992 - 62 +2,503 Bonds 3,752 - 3^0 + 717 Total bought outright 29, ^ + 65 +2,964 Held under repurchase agreement - 65 - 177 Total U. S. Government securities 297S5S -- +2,767 Total loans and securities 29,767 + 167 +2,281 Cash items in process of collection (1,263) 6,079 +1,270 + 952 Bank premises 107 -- 1 Other assets 236 - 230 + 68 TOTAL ASSETS (1,633) 52,7iS +1,172 +2,337 L I A B I L I T I E S Federal Reserve notes (370) 28,301 + 11 +1,166 Deposits: Member bank reserves 17,108 + 160 + 118 U. S. Treasurer--general account 627 + 239 + 131 Foreign 211 - 10 + 5 Other 361 + 2k + 79 Total deposits l6,307 + Sl3 + 333 Deferred availability cash items (1,263) ^,628 + 798 + 712 Other liabilities and accrued dividends 75 1 + 29 TOTAL LIABILITIES (1,633) 51,311 +1,221 +2, 2k0 C A P I T A L A C C O U N T S Capital paid in k5k -- + 31 Surplus 888 — + 71 Other capital accounts 61 - k$ 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTSU, 633) 52,7l5 +1,172 +2,337 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) 3k,k$ - .k$ - 3-20 Contingent liability on acceptances purchased for foreign correspondents 108 + 10 - 36 * 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, MAY l6, 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 ZLk 12 526 -1,821 16 days to 90 days 51 21 1,810 - 405 91 days to 1 year 15 - _ Ik,867 +2,992 Over 1 year to 5 years — -- 9,738 - 766 Over 5 years to 10 years 2,2^7 DigitizeOd vfoer rFR A1S0E Ry ears 266 http://fraser.stlTouoistfaedl.org/ 2S0 33 29,k5k L Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY l6, 1962 San New Phila­ Cleve- Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City siseo (In m illions of dol]_ars) A S S E T S Cold certificate account 15,007 700 4,114 654 1,151 934 765 2,524 569 303 593 579 1,921 Redemption fund for F.R. notes 1,158 71 273 70 99 93 66 205 50 27 49 36 119 Total geld certificate reserves 16,165 771 4,387 924 1,250 1,027 831 2,729 6l9' 330 642 615 " 2,q4o F. R. notes of other Banks 370 15 113 24 20 16 57 28 11 18 14 18 36 Other cash 360 24 74 16 30 19 31 62 19 8 9 l4 54 Discounts and advances 280 15 60 5 15 11 30 65 2 18 28 7 24 Acceptances: Bought outright 33 -- 33 -- -- -- -- - - ~ *“ *"■ •* ** *■* U. S- Government securities; Bought outright— B ills 3,204 166 793 182 272 211 170 538 127 70 l4l 129 405 Certificates 5,506 285 1,363 313 466 363 293 923 220 120 . 242 222 696 Notes 16,992 881 4,207 966 1,439 1,120 902 2,849 678 368 747 687 2,i48 Bonds 3,752 195 929 213 318 248 ....192. 629 150 81 l64 _ i 5 2 _ 474 To ta l 29,454 1,527 7,292 1,674 2,495 1,942 1,564 4,939 1,175 639 1,294 1,190 3,723 Held under repurchase agreement .. - - - -- -- — -- - - “ Total U. S. Government securities 29,454 1,527 7,292 1,674 2,495 1,942 1,564 4,939 1,175 639 1,294 1,190 3,723 Total loans and securities 29,767 1,542 7,385 1,679 2,510 1,953 1,594 5,004 1,177 657 1,322 1,197 3,747 Cash items in process of collection 7,342 532 1,412 456 580 541 555 1,244 293 215 385 300 829 Bank premises 107 3 9 3 8 5 14 24 6 5 6 13 11 Other assets 236 12 60 14 21 14 13 37 9 5 10 11 30 TOTAL ASSETS 54,347 2,899 13,440 3,116 4,419 3,575 3,095 9,128 2,134 1,238 2,388 2,168 6,747 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 16, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions3 of dolJLars) L I A B I L I T I E S Federal Reserve notes 28,671 1,695 6,61+5 1,823 2,548 2, 309 1,634 5,233 1, 228 589 1,186 828 2,953 Deposits: Member hank reserves 17,108 635 4,835 782 1,170 722 868 2,584 588 402 802 939 2,781 U.S. Treasurer-general account 627 35 1V7 36 28 50 44 71 30 34 43 49 60 Foreign 211 10 1/49 13 21 10 12 31 8 5 9 13 30 Other 361 1 311 2 1 3 1 2 * * 2 1 37 Total deposits 18,307 681 5,342 833" 1, 220 75T 925 2,688 626" 44i 856 1,002 2,908 Deferred availability cash items 5,891 454 1,054 376 515 4io 457 996 228 173 284 255 689 Other liabilities and accrued dividends 75 3 20 b 6 5 4 12 ......„3 3 3 .....3 — ___9. TOTAL LIABILITIES ' 52,944 2,833 13,061 3,036 4,289 3,509 3,020 8,929 27085 1,206 2,329 2,088 6,559 CAPITAL ACCOUNTS Capital paid in 454 21 123 26 42 21 24 64 16 11 19 26 61 Surplus 888 k2 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 61 3 13 3 5 5 4 11 2 1 3 4 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,347 2,899 13, 440 3,116 4,419 3, 575 3,095 9,128 2,134 1,238 2,388 2,168 6,747 Contingent liability on accept­ ances purchased for foreign c orre spondents 108 5 2/30 6 10 5 6 15 4 2 4 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,880 1,739 6,950 1,888 2,706 2, 388 1,702 5,357 1,279 672 1,217 886 3,096 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 26 - » - - l - - - - — # 25 - - U. S. Government securities 23.410 1.365 5.600 1,500 2,050 1,750 1.400 4.100 1.010 530 .__950__..755 . 2.400 - Total collateral 31,216 1,815 7,200 2,031 2,820 2,430 1,825 5,500 1,350 690 1,285 970 3,300 l/ After deducting $162 million participations of other Federal Reserve Banks. *Less than $500,000. Digitized2 fo/r FARfAtSEeRr deducting $ 78 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis