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 31; 1962 The average of daily figures of total member bank reserves held during the week ended May 30 decreased a net of $70 million to $19,759 million. Estimated currency and coin of member banks increased $6l million and their reserve balances at the Federal Reserve Banks decreased $131 million. Estimated required reserves decreased $74 million; and estimated excess reserves increased $4 million to $534 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $448 million, compared with the revised figure of $483 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks was a decrease of $476 million in Federal Reserve float. The princi­ pal offsetting changes were increases of $219 million in U. S. Government securities bought outright and $39 million in member bank borrowings, and decreases of $75 million in Treasury deposits with Federal Reserve Banks and $29 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $2l8 million. As of Wednesday, May 30, holdings of U. S. Government securities bought outright were $359 million higher than a week earlier and member bank borrowings were $35 million higher. Outright holdings of bills, certificates, notes, and bonds increased $179 million, $57 million, $100 million, and $23 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 30, May 23, May 31, May 30, and related items 1962 ___1962____ 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 29,560 +219 +2,761 29,570 Held under repurchase agreement — -- 3 -- Acceptances— bought outright 33 -- 7 31 Discounts and advances-- Member bank borrowings 86 + 39 6 108 Other 65 + 60 65 Float 1,191 -476 + 226 951 Total Reserve Bank credit 30,935 -218 +3,031 30,725 Gold stock 16,434 - - - 968 16,435 Treasury currency outstanding 5,594 + 1 + 166 5,595 52,963 -217 +2,228 52,755 Currency in circulation 33,331 + 4 +1,273 33,478 Treasury cash holdings 4l8 - 1 + 2 4l6 Treasury deposits with F. R. Banks 524 - 75 + 150 568 Foreign deposits with F. R. Banks 208 - 29 3 214 Other deposits with F. R. Banks 344 + 17 + 69 362 Other F. R. accounts (net) 1,130 - 2 + 57 1,130 35,958 - 65 +1,549 367168 Member bank reserves: With Federal Reserve Banks 17,007 -131 + 678 16,587 Currency and coin (estimated) 2,752 + 6l + 209 2,936 Total reserves held 19,759 - 70 + 887 19,523 Required reserves (estimated) 19,225 - 74 + 968 19,222 Excess reserves (estimated) 534 + 4 - 81 301 On May 30, 1962, U- S. Government securities held in custody by Fed­ eral Reserve Banks for foreign account were $5,734 million, an increase of $30 million for the week and an increase of $97 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 30;' May 23, May 31, 1962 1962 . . . 1961 A S S E T S Gold certificate account 15,005 - 2 -1,056 Redemption fund for F. R. notes 1,153 - 5 + 119 Total gold certificate reserves l6, 158 - 7 - 937 Cash (346) 357 - 7 - 17 Discounts and advances 173 + 35 + 62 Acceptances--Bought outright 31 - 1 6 U- S. Government securities: Bought outright-- Bills 3,114 +179 + 463 Certificates 5,563 + 57 - 954 Notes 17,101 +100 +2,553 Bonds 3,792 + 23 + 622 Total Bought outright 29,570 +359 +2,684 Held raider repurchase agreement -- 1 Total U- S- Government securities 29,570 +359 +2,683 Total loans and securities 29,774 +393 +2,739 Cash items in process of collection (1,138) 4,287 -602 + 621 Bank premises 106 - 1 2 Other assets 273 + 18 + 69 TOTAL ASSETS (1,484) 50,955 7206 +2,473 L I A B I L I T I E S Federal Reserve notes (346) 28,379 +166 +1,l4l Deposits: Member Bank reserves 16,587 - 53 + 480 U. S. Treasurer— general account 568 - 51 + 196 Foreign 214 - 54 + 4 Other (241) 426 +138 + 149 Total deposits (241) 17,795 - 20 + 829 Deferred availability cash items (897 ) 3,272 -372 + 377 Other liabilities and accrued dividends 74 + 3 + 27 TOTAL LIABILITIES (1,484) 597520 -223 +2,374 C A P I T A L A C C O U N T S Capital paid in 455 — + 32 Surplus 888 -- + 71 Other capital accounts 92 + 17 k TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,484) 50,955 7206 +2,473 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) 34.6$ -.2$ - 3-8i Contingent liability on acceptances purchased for foreign correspondents 112 - 1 - 54 * 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 °>Q. 1962 (Acceptances and securities neld 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 106 10 397 - 60 16 days to 90 days 67 21 5,372 + 48 91 days to 1 year - - -- 11,467 +314 Over 1 year to 5 years - - -- 9,821 + 57 Over 5 years to 10 years -- 2,247 — DigitizOevd eforr FR1A0S EyRe ars -- -- 266 — http://fraser.sTtlooutiasfled.org/ 173 31 29,570 +359 Federal Reserve Bank of St. Louis

H 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 30, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco i (In millions of dollars) A S S E T S Gold certificate account 15,005 756 3,814 830 1,155 969 874 2,596 589 297 609 627 1,889 Redemption fund for F. R. notes 1 V 271 60 101 91 66 - 205 ... 49 27 ....49 36 ___ li£_ Total gold certificate reserves 16,158 827 4,085 899 1,256 1,060 940 2,801 638 324 658 663 2,007 F. R. notes of other Banks 3 46 12 109 18 22 16 59 23 11 19 15 17 25 Other cash 357 22 75 16 29 20 33 60 19 9 10 14 50 Discounts and advances 173 17 30 9 8 17 11 35 7 5 15 9 10 Acceptances: Bought outright 31 -- 31 — -- “ - — — “ ** ** U. S. Government securities: Bought outright— Bills 3,114 l6l 771 177 264 205 165 522 125 67 137 126 394 Certificates 5,563 288 1,377 316 471 367 296 933 222 121 244 225 703 Notes 17,101 887 4,234 972 1,448 1,128 908 2,867 682 371 751 691 2,162 Bonds 3,792 197 939 216 321 250 201 ___636. 151 82 167 ___151. 479 Total 29,570 1,533 7,321 1,681 2,504 1,950 1,570 4,958 1,180 SET 1,299 1,195 3,738 Held under repurchase agreement Total U. S. Government securities 29,570 1,533 7,321 1,681 2,504 1,950 1,570 4,958 1,180 641 1,299 1,195 3,738 Total loans and securities 29,774 1,550 7,382 1,690 2,512 1,967 1,581 4,993 1,187 646 1,314 1,204 3,748 Cash items in process of collection 5,425 344 997 344 420 454 495 838 285 l4l 252 303 552 Bank premises 106 3 9 3 8 5 14 24 6 4 6 13 11 Other assets 273 14 69 15 23 16 16 43 10 6 13 12 36 TOTAL ASSETS 52,439 2,772 12,726 2,985 4,270 3,538 3,138 8,782 2,156 1,149 2,268 2,226 6,429 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 30, 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 dol3.ars) L I A B I L I T I E S Federal Reserve notes 28,725 1,704 6,675 1,826 2,5^2 2,312 1,627 5,235 1,226 • 586 1,188 828 2,976 Deposits: Member hank reserves 16,587 640 4,423 749 1,188 721 862 2,577 597 388 776 957 2,709 U.-S. Treasurer-general account 568 26 66 29 39 89 52 . 71 36 25 38 40 57 Foreign 214 10 1/62 12 20 9 11 29 7 5 9 12 28 Other 66 7 * 312 2 1 ... 36 l4l 2 24 * 1 111 ____ 32_ Total deposits 18,036 676 4,863 792 1,248 855 1,066 2,679 664 4l8 824 1,120 2,831 Deferred availability cash items 4,169 321 782 281 340 300 364 651 213 110 193 194 420 Other liabilities-and accrued dividends 74 4 18 4 7 _____ 3 4 13_ - - 3. _____ 2_ 3 3— _1Q_ TOTAL LIABILITIES 51,004 2,705 12,338 2,903 4,137 3, 470 3,061 8,578 2,106 1,116 2,208 2,145 6,237 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" 92 4 21 5 8 7 6 16 3 2 4 _____ 5_ 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 32,439.. 2,_7_7_2 12.726 JL2&5 4.270 _Jk538 _ia.38_ 8.782 2.156 1.149 2.268 2.226 6.429 Contingent liability on accept­ ances purchased for foreign corre spondent s 112 5 2/31 6 10 5 6 16 4 3 _____ 5_ 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,865 1,741 6,942 1,887 2,702 2,392 1,696 5,358 1,282 668 1,218 888 3,091 Collateral for F. R. notes: Gold certificate account 7,700 450 l, 600 530 720 650 425 1,400 340 160 310 215 900 Eligible paper 22 -- — 5 — — — — 5 —• 12 -- -- U. S. Government securities 23,390 1,365 5,600 1,500 2,100 1,780 1,300 4,100 1,010 530 950 755_ CVJ O O Total collateral 31,112 1,815 7,200 2,035 2,820 2,430 1,725 5,500 1,355 690 1,272 970 3,300 1/ After deducting $152 million participations of other Federal Reserve Banks. Digitized for FRASER *Less than $500,000. 2/ After deducting $ 8l million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis