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 June 7, 1962 The average of daily figures of total member bank reserves held during the week ended June 6 decreased a net of $43 million to $19,763 million. Estimated currency and coin of member banks decreased $191 million and their reserve balances at the Federal Reserve Banks increased $l48 million. Estimated required reserves increased $69 million; and estimated excess reserves decreased $112 million to $491 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $436 million, compared with the revised figure of $517 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $277 million in U. S. Government securities bought outright and decreases, of $50 million in Treasury deposits with Federal Reserve Banks and $53 million in "other" F. R. accounts (net). The principal Offsetting changes were a decrease of $31 million in member bank borrowings and an increase of $200 million in currency in circulation. Total Reserve Bank credit increased $263 million. As of Wednesday, June 6, holdings of U. S. Government securities bought outright were $379 million higher than a week earlier and member bank borrowings were $62 million lower. Outright holdings of bills, certificates, notes, and bonds increased $198 million, $54 million, $8l million, and $46 million, respectively. Averages of daily figures Member bank reserves, Week e/'1nM des~\ dA3 fCllhtna wn g/•/>e> "fPvri/ommw week /evnded Wednesday, Reserve Bank credit, June 6, May 30, June 7, June 6, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S Government securities-- Bought outright--System account 29,837 +277 +2,796 29,949 Held under repurchase agreement — — 20 Acceptances— bought outright 32 - 1 5 31 Discounts and advances— Member bank borrowings 55 - 31 7 46 Other 62 - 3 + 58 60 Float 1,211 + 20 + 201 1,175 Total Reserve Bank credit 31,198 +263 +3,023 31,261 Gold stock 16,434 -- - 976 16,435 Treasury currency outstanding 5,597 + 3 + 168 5,600 53,229 +555 +2,215 53,296 Currency in circulation 33,531 +200 +1,333 33,615 Treasury cash holdings 4l6 - 2 9 412 Treasury deposits with F. R. Banks 474 - 50 + 1 450 Foreign deposits with F. R. Banks 209 + l + 11 202 Other deposits with F. R. Banks 367 + 23 + 128 344 Other F. R. accounts (net) 1,077 - 53 + 6 1,074 36,07^ +118 +1,470 36^97 Member bank reserves:' With Federal Reserve Banks 17,155 +l48 + 745 17,198 Currency and coin (estimated) 2,608 -191 + 214 2,767 Total reserves held 19,763 - 43 + 959 19,965 Required reserves (estimated) 19,272 + 69 +1,039 19,289 Excess reserves (estimated) 491 -112 - 80 676 On June 6, 1962, U- S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,731 million, a decrease of $3 million for the week and an increase of $63 million from the comparable: date, a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDS UAL RESERVE BAMS (In million! of dollars) J3«agB-gteSg------ June 6, May 30, June 7, 1961... _ .>■— A S S E T S Gold certificate account 15, 018 +13 -1,062 Redemption fund for F. R. notes 1,155 + 2 + 109 Total gold certificate reserves 16,173 + 15 - 953 Cash (330) 335 - 23 - 36 Discounts and advances 106 - 67 + 4l 6 Acceptances— bought outright 31 -- U.' S. Government securities: Bought outright-* Bills 3,312 +198 + 483 Certificates 5,617 + 54 - 900 Notes 17,182 + 81 +2,583 Bonds 3,838 + 46 + 6o4 Total bought outright 29,W +379 +2,770 Held under repurchase agreement -- -- - - Total U. S. Government securities 29,959 +379 +2,770 Total loans and securities 30,086 +312 +2, 805 Cash items in process of collection (878) 5, 703 +4l6 + 649 Bank premises 106 — 2 Other assets 355 + 72 + 122 TOTAL ASSETS (1,208) 51, t w +792 +2, 585 L I A B I L I T I E S Federal Reserve notes (330) 28,500 +121 +1,175 Deposits: Member bank reserves 17,198 +6ll + 839 U. S. Treasurer— general account 450 -118 + 30 Foreign 202 - 12 - 25 Other 355 - 82 + 98 Total deposits 187195 +399 + 952 Deferred availability cash items (878) 3,528 +256 + 353 Other liabilities and accrued dividends 76 + 2 + 27 TOTAL LIABILITIES (1,208) 50,298 +778 +2,486 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 106 + 14 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,208) 51,757 +792 +2, 585 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) 3 b.kio -. 2 °jo - 3-7# Contingent liability on acceptances purchased , for foreign correspondents 112 - - U8 * 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, JUNE 6, 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 45 10 542 +145 i6 days to 90 days 6l 21 5,355 - 17 91 days to 1 year 11,631 +164 — — Over 1 year to 5 years -- — 9,908 + 87 Over 5 i'ears to 10 years ^ 2,247 -i*- r Digitiz O e v d e fo r r F 1 R 0 A SE y R e ars -- -- 2 66 — http://fraser.Tstolotuiasfled.org/ 106 31 29,959 +379 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON JUNE 6, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In m illions of dol] Lars) A S S E T S Gold certificate account 15,018 802 3,767 842 1,201 964 804 2,559 548 302 674 634 1,921 Redemption fund for F. R. notes 1,155 71 271 _ 71 3,01 91 66 205 49 ..27 ._ 49 36 118 Total gold certificate reserves 16,173 873 M 3 8 913 1,302 1,055 870 2,764 597 329 723 670 2,039 F. R. notes of other Banks 330 14 112 21 20 13 b5 23 9 18 13 13 29 Other cash 33^ 22 59 17 28 18 31 58 17 9 9 13 53 Discounts and advances 106 7 24 4 6 7 9 21 2 2 9 5 10 Acceptances: „ „ .. „ .. .. „ .. Bought outright 31 31 U. S. Government securities: Bought outright-- B ills 3,312 172 820 188 280 219 176 555 132 72 1^5 13^ 419 Certificates 5,617 291 1,391 319 476 370 298 942 224 122 247 227 710 Notes 17,182 891 4,254 977 1,^55 1,133 912 2,881 686 372 755 694 2,172 Bonds .3,838 199 950 218 ..3.25 ..253. 204 644 __153 83 169 155 485 Total 29,9^9 1,553 7,^15 1,702 2,536 1,975 1,590 5,022 1,195 649 1,316 1,210 3,786 Held under repurchase agreement -- -- -- ... -- -- -- -- -- -- Total U. S. Government securities 29,949 JL,553 7,^15 1,702 2,536 .. Ij-975 1,590 5,022 1,195 649 1,316 1,210 -„1>,.?86_ Total loans and securities 30,086 1,560 7,470 1,706 2,542 1,982 1,599 5,043 1,197 651 1,325 1,215 3,796 Cash items in process of collection 5,581 442 1,072 336 449 396 445 909 252 171 269 22 6 6l4 Bank premises 106 3 9 3 8 5 14 24 6 4 6 13 11 Other assets 3^5 18 88 21 30 19 19 ... 53 13 8 . 15. 16 45 TOTAL ASSETS 52,955 2,932 12,848 3,017 ^,379 3,488 3,023 8,874 2,091 1,190 2,360 2,166 6,587 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(e) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (in million*5 of dol]Lars) L I A B I L I T I E S Federal Reserve notes 28,830 1,713 6,676 1,826 2, 544 2, 326 1,642 5,247 1,230 587 1,195 837 3,007 Deposits: Member hank reserves 17,198 758 4,586 780 1,276 745 892 2,577 583 507 853 1,014 2,727 U.S. Treasurer-general account lt-50 29 58 33 37 26 25 69 25 20 34 32 62 Foreign 202 10 i/5j> 12 19 9 11 28 7 5 9 11 27 Other 344 * 294 1 1 3 1 1 1 * 1 1 4o Total deposits 18,194 797 4,992 826“ 1,333 783 929 2,675 6l5 432 897 1,058 2,856 Deferred availability cash items 4,5o6 350 769 278 362 306 371 733 192 136 203 187 519 Other liabilities and accrued dividends 76 5 19 5 7 5 5 12 3 2 4 _____3 10 TOTAL LIABILITIES 51750T 27855 I27556' 2,934 “ 5; 255 3,419“ 2,946 8,667 2,05l 1,157 2,299 2,085 6,392 CAPITAL ACCOUNTS Capital paid in 455 21 124 26 42 21 24 64 16 11 19 26 61 Surplus 888 42 243 51 83 4o 47 125 31 20 37 50 120 Other capital accounts 106 ___ 5......25 6 8 8 _____6. 19 7 P _____ 5 .1.5... ___________ . TOTAL LIABILITIES AND CAPITAL ACCOUNTS .52*255- 2^232_ 12.848 -SxSlT-.4,322- 3.588 -3*0221-. 8.875 ___- 1*120- 2*360- p;ifi6 -6*387- Contingent liability on accept­ ances purchased for foreign correspondents 112 ____i _ 2/31 6 10 _____L_ 6 16 5 _____ 2_ _____ 5- 6 .. 15.. FEDERAL RESERVE AGENTS’ ACCOUNTS F. R. notes outstanding 29,971 1,753 6,954 1,895 2,694 2,4o4 1,703 5,360 1,280 673 1,227 899 3,129 Collateral for F. R. notes: Gold certificate account 7,700 550 1,600 530 720 650 425 1,400 340 160 • 310 215 900 Eligible paper 7 — -- 1 - - - - - - - - * - - .6 — — 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 2,400 Total collateral 31,097 1,815 7,200 2,031 2,820 2,430 1,725 5,500 1,350 690 1,266 970 3,300 1/ After deducting $i58 million participations of other Federal Reserve Banks. Digitized 2fo/r FRAAfStEeRr deducting $ 8l million participations of other Federal Reserve Banks. * Less than $500,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis