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 May 24, 1962 The average of daily figures of total member bank reserves held during the week ended May 23 increased a net of $13 million to $19*825 million. Estimated cur­ rency and coin of member banks decreased $27 million and their reserve balances at ! the Federal Reserve Banks increased $40 million. Estimated required reserves decreased $2$ million; and estimated excess reserves increased $37 million to $522 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $475 million, compared with the revised figure of $421 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $391 million in Federal Reserve float and a decrease of $79 million in currency in circulation. The principal offsetting changes were decreases of $191 million in holdings of U. S. Government securities and $22 million in gold stock, and increases of $62 million in Treasury deposits with Federal Reserve Banks and $136 million in "other" F.R. accounts (net). Total Reserve Bank credit increased $183 million. As of Wednesday, May 23, holdings of U. S- Government securities bought outright were $243 million lower than a week earlier and member bank borrowings were $l42 million lower. Outright holdings of bills decreased $269 million; notes and bonds increased $9 million and $17 million, respectively. Averages of daily figures Member bank reserves, week ended Change from week ended Wednesday Reserve Bank credit, May 23, May l6, May 2 4 , May 23, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,341 -170 +2,743 29,211 Held under repurchase agreement -- - 21 - 55 — Acceptances— bought outright 33 — - 5 32 Discounts and advances— Member bank borrowings 47 - 17 - 19 73 Other 65 -- + 60 65 Float 1,667 +391 359 1,245 Total Reserve Bank credit 31,153 +183 +3,083 30,626 Gold stock 16,434 - 22 - 969 16,435 Treasury currency outstanding 5,593 - 2 + 167 5,593 537i8o +159 +2,231 52,655 Currency in circulation 33,327 - 79 +1,326 33,291 Treasury cash holdings 419 - 4 - l 420 Treasury deposits with F. R. Banks 599 + 62 4* 116 619 Foreign deposits with F. R. Banks 237 + 18 4- 36 268 288 Other deposits with F. R. Banks 327 - 15 4- 47 Other F- R. accounts (net) 1,132 +136 4- 57 1,127 36,041 +118 +1,581 36,013 Member bank reserves: With Federal Reserve Banks 17,138 + 4o 4> 698 16,640 Currency and coin (estimated) 2,687 - 27 4- 210 2,977 Total reserves held 197525 + 13 4-“ 908 19,617 Required reserves (estimated) 19,303 - 24 4- 951 19,249 Excess reserves (estimated) 522 + 37 43 3 68 On May 23, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,704 million, an increase of $94 mil­ lion for the week and an increase of $87 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) since May 23, May 16, May 24, .jate__ __12£g.___ 1961 A S S E T S Gold certificate account 15,007 -1,054 Redemption fund for F. R. notes 1,158 -- + 124 Total gold certificate reselves 1.6,165 — - 930 7v Cash (400) 364 + 4 - 34 Discounts and advances 138 - 142 - 73 Acceptances--!ought outright 32 1 5 U. S. Government securities: Bought outright— Bills 2,935 - 269 + 377 Certificates 5,506 -1,Oil Notes 17,001 + 9 +2,476 Bonds 3,769 + 17 + 663 Total bought outright 29,211 - 243 +2,505 Held under repurchase agreement — -- 4l Total U. S. Government securities 29,211 - 243 +2,464 Total loans and securities 29,38l - 386 +2,386 Cash items in process of collection (1,121) 4,889 -1,190 + 619 Bank premises 107 -- 1 Other assets 255 + 19 + 68 TOTAL ASSETS (1,521) 51,161 -l, 553 +2,108 L I A B I L I T I E S Federal Reserve notes (4oo) 28,213 - 88 +1,172 Deposits: Member bank reserves 16,64o - 468 + 254 U. S. Treasurer--general account 619 8 + 135 Foreign 2 68 + 57 + 68 Other 288 - 73 + 6 Total deposits 17,815 : 592 + 463 Deferred availability cash items (1,121) 3,644 - 984 + 352 Other liabilities and accrued dividends 71 4 + 22 TOTAL LIABILITIES (1, 521) 49,743 -l, 568 +2,009 C A P I T A L A C C O U N T S Capital paid in 455 + 1 + 32 Surplus 888 -- + 71 Other capital accounts 75 + l4 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 521) 51,161 -1,553 +2,108 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$ + .4<jo - 3*4# Contingent liability on acceptances purchased for foreign correspondents 113 + 5 - 50 * 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 23, 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 72 10 5^7 - 69 16 days to 90 days 51 22 5,324 +3,514 91 days to 1 year 15 11,153 -3,714 Over 1 year to 5 years „ 9,764 + 26 Over 5 years to 10 years 2,247 -- Over 10 years -- 2 66 — Digitized for FRASER Total 138 32 29,211 - 243 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 23, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis C ity cisco (In m illions of dol],ars) A S S E T S Gold certificate account 15,007 737 3,838 905 1,191 932 811 2,654 574 309 640 544 1,872 Redemption fund for F. R. notes 1,158 71 273 70 99 93 66 2 05 50 27 49 36 119 Total gold certificate reserves 16,185 808 . 4,111 975 1,290 1,025 87T” 2,859“ WT~ 330 m r i,991 F. R. notes of other Banks 1*00 17 122 25 23 21 60 28 12 19 13 19 41 Other cash 364 23 71 17 30 20 32 65 19 9 10 14 54 Discounts and advances 138 6 22 5 6 9 9 37 3 3 15 8 15 Acceptances: Bought outright 32 -- 32 -- -- - - - «. *“ •“* mm U. S . Government securities: Bought outright— B ills 2,935 152 727 167 249 194 156 492 117 63 128 119 371 Certificates 5,506 285 1,363 313 466 363 293 923 220 120 242 222 696 Notes 17,001 882 4,209 966 l,44o 1,121 902 2,851 678 369 747 687 2,149 Bonds 3,769 196 933 2l4 319 248 200 632 151 81 l66 152 477 Total 29,211 1,515 7,232 1,660 2,474 1,926 1,551 4,898 1,166 633 1,283 1,180 3,693 Held under.repurchase agreement «... - - - ... -- -- -- -- Total U- S. Government securities 29.211 1.515 7.2^2 1.660 2.4?4 1.926 . 1,551 4.898 l,l66 .633 1,233 1,180 3,693 - Total loans and securities 29,381 1,521 7,286 1,665 2,48o 1,935 1,560 4,935 1,169 636 1,298 1,188 3,708 Cash items in process of collection 6,010 4l4 l,io4 381 511 4l6 460 982 248 176 325 271 722 Bank premises 107 3 9 3 8 5 14 24 6 5 6 13 11 Other assets 255 l^ 63 15 23 15 14 4o 10 6 11 12 . 33. _________ TOTAL ASSETS 52,682 2,799 12,766 3,081 4,365 3,437 3,017 8,933 2,088 1,187 2,352 2,097 6,560 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 23, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago 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 28,613 1,693 6,643 1,823 2,542 2,305 1,623 5,225 1,223 587 1,181 827 2,941 Deposits: Member hank reserves 16,640 615 4,519 785 1,194 699 877 2, 585 580 385 817 902 2,682 U.S. Treasurer-general account 619 32 65 49 52 37 32 87 34 35 40 48 108 Foreign 268 13 1/74 16 25 12 14 37 9 6 11 15 36 Other 288 * ,..239. 1 1 4 1 1 * * 1 1 39 Total deposits 17,815 £60 4,897 851 1,272 752 924 2,710 623 426 869 966 2,865 Deferred availability cash items 4,765 375 825 322 4l4 309 390 784 190 l4o 240 221 555 Other liabilities and accrued dividends 71 _ 4 ___17__ 4 6 4 4 13 3. 1 3 3 ____9 TOTAL LIABILITIES 51,264 2,732 12,382 3,000 4,234 3,370 2,941 8,732 2,039 1,154 2, 293 2,017 6,370 CAPITAL ACCOUNTS Capital paid in 455 21 124 26 42 21 24 64 16 11 19 26 61 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 75 4 17 4 6 6 _____5 ____13 2 2 __ ... _3 4 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,682 2,799 12,766 .3,081 4,365 3A 17 ., 3.,.oil.-A223 2,088 ...1,181 -.2,3.52 2,097 6,560 Contingent liability on accept­ ances purchased for foreign correspondents . 1 1 3 - _1_ ?Al 7 10 ____ £ 6 16 4 _____ 1_ 5 6 _____15_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,877 1,745 6,958 1,893 2,704 2,396 1,693 5,34^ 1,286 , 670 1,215 892 3,081 Collateral for F. R. notes: Gold certificate account 7,750 450 1,600 530 770 650 425 1,400 340 160 310 215 900 Eligible paper 15 - - - - 2 - - — — - - 1 — 12 — — U. S. Government securities 23,440 1,365 5,600 1,500 2,050 1,780 ... 1,400 4,100 1,010 -530 _950_ ..755... 2.400 Total collateral 31,205 1,815 7, 200 2,032 2,820 2, 430 1,825 5,500 1,351 690 1,272 970 3,300 l7 After deducting' $194 million participations of other Federal Reserve Banjo;. *Less than $500,000. Digitized fo2r/ F RAASfERt er deducting $ 82 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis