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 l4, 1962 The average of d aily figures of to ta l member bank reserves held during the week ended June 13 decreased a net of $178 m illion to $19*633 m illion . Estim ated currency and coin of member banks increased $1 m illion and th eir reserve balances at the Federal Reserve Banks decreased $179 m illion . Estim ated required reserves decreased $68 m illion ; and estim ated excess reserves decreased $110 m illion to $4l2 m illion . Excess reserves exceeded member bank borrowings a t the Federal Reserve Banks by $365 m illion , compared with the revised figure of $467 m illion the week before. The p rin cip al changes reducing average reserve balances with Federal Reserve Banks were a decrease of $165 m illion in U. S. Government secu rities bought ou trigh t, and increases of $132 m illion in currency in circu latio n and $29 m illion in Treasury deposits with Federal Reserve Banks. The p rin cip al o ff­ settin g changes were an increase of $93 m illion in Federal Reserve flo a t and a decrease of $28 m illion in "other" deposits with Federal Reserve Banks. T otal Reserve Bank cred it decreased $83 m illion. As of Wednesday, June 13, holdings of U. S. Government secu rities bought outright were $321 m illion lower than a week e a rlie r and member bank borrowings were $67 m illion higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 13, June 6, June 14, June 13, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 29,672 -165 +2,726 29,628 Held under repurchase agreement -- -- -- -- Acceptances— bought outright 32 -- 6 30 Discounts and advances— Member bank borrowings 47 - 8 24 113 Other 60 - 2 + 56 59 Float 1.304 + 93 + 186 1,301 Total Reserve Bank credit 31,115 - 83 +2,938 31,131 Gold stock 16,435 + 1 -1,014 16,435 Treasury currency outstanding 5,602 + 5 + 169 5,603 53,151 +“78 +2,091 53,169 Currency in circulation 33,663 +132 +1,364 33,672 Treasury cash holdings 402 - 14 8 4o8 Treasury deposits with F. R. Banks 503 + 29 + 23 458 Foreign deposits with F. R. Banks 211 + 2 + 8 225 Other deposits with F. R. Banks 339 - 28 + 97 328 Other F. R. accounts (net) 1,056 - 21 + 13 1,005 36,175 +101 +1,498 36,09b Member bank reserves: With Federal Reserve Banks 16,976 -179 + 594 17,073 Currency and coin (estimated) 2,657 + 1 + 195 3,oo8 Total reserves held 19,633 -178 + 789 20,c8l Required reserves (estimated) 19,221 - 68 +1,006 19,355 Excess reserves (estimated) 4l2 *110 - 217 726 On June 13, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,721 million, a decrease of $10 million for the week and an increase of $l44 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (la millions of dollars) Chaage_MnfiS---— June 13, June 6, June 14, ___12& — . 1962... _ ■196-1___ A S S E T S Gold certificate account 15,003 - 15 -1,123 Redemption fund for F. R. notes .1*163 + 8 + 115 Total gold certificate reserves 16,166 - 7 -1,008 JL W Cash (3^1) 355 + 21 - 23 Discounts and advances 172 + 66 + 109 Acceptances — hought outright 30 - 1 7 U. S. Government securities: Bought outright— Bills 2,991 -321 + 455 Certificates 5,617 -- - 883 Notes 17,182 -- +2,597 Bonds 3,838 — + 6o4 Total bought outright 29,625 -321 +2, 783 Held under repurchase agreement — — "* — Total U. S. Government securities 29,628 -321 +2,783 Total leans and securities 29, 830 -256 +2,885 Cash items in process of collection (1,093) 5,396 +693 + 272 Bank premises 107 + l 4 Other assets 363 + 18 + 124 TOTAL ASSETS (1,43*0 52,217 +470 +2,246 L I A B I L I T I E S Federal Reserve notes (341) 28,563 + 63 +1,233 Deposits: . Member bank reserves 17,073 -125 + 73+ U. S. Treasurer— general account 458 + 8 - 107 Foreign 225 + 23 + 23 Other (13) 328 - 16 + 87 Total deposits (13) 18,684 -110 + 737 Deferred availability cash items (1,080) 4,095 +567 + 158 Other liabilities and accrued dividends 76 — + 22 TOTAL LIABILITIES (1,434) 50,818 +520 +2/156 C A P I T A L A C C O U N T S Capital paid in 456 + 1 + 33 Surplus 888 — + 71 Other capital accounts 55 - 51 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS( 1, 434) 52,217 +470 +2, 246 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages— not consolidated) 34.4$ — - 3*7^ Contingent liability on acceptances purchased for foreign correspondents 110 - 2 - 47 * 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 13, 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 125 8 626 + 8/V 4ft 16 days to 90 days 1+7 22 5,023 -332 91 days to 1 year — -- 11,558 - 73 Over 1 year to 5 years — 9,908 -- Over 5 years to 10 years — — 2,247 -- 266 DigitizeOdv feorr F R1A0S EyRe ars -http://fraser.sTtlooutisafeld.org/ 172 30 29,628 -321 Federal Reserve Bank of St. Louis

H A.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 13, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis C ity cisco (in m illions of dol]Lars) A S S E T S Gold certificate account 15,003 773 3,919 820 1,162 914 801 2,523 557 328 649 595 1,962 Redemption fund for F. R. notes 1,163 71 270 70 100 99 66 204 49 27 48 36 123 Total gold certificate reserve# TEisr — 5$T 4,189 896 1,262” 1,013 w r 2,727 5o5~ 355 697 631 F. R. notes of other Banks 34l 12 119 20 19 16 46 24 9 17 14 12 33 Other cash 355 22 71 18 30 19 31 62 17 10 10 12 53 Discounts and advances 172 10 35 9 11 9 6 31 10 2 18 7 24 Acceptances: Bought outright 30 -- 30 - - “ - — ““ — “ mm mm U. S. Government securities: Bought o u trig h t- B ills 2,991 155 741 170 253 198 159 501 119 65 131 121 378 Certificates 5,617 291 1,391 319 476 370 298 942 224 122 247 227 710 Notes 17,182 891 4,254 977 1,455 1,133 912 2,881 686 372 755 694 2,172 Bonds 3,838 199 950 218 325 253 204 644 153 83 169 155 485 Total 29,628 1,536 7,336 1,684 2,509 1,954 1,573 4,968 1,182 642 1,302 1,197 3,745 -- -- -- -- . ~ - - — “ — mm mm Held tinder repurchase agreement „ Total U. S. Government securities 29,628 1,536 7,336 1,684 2,509 1,954 1,573 4,968 1,182 642 1,302 1,197 3,745 Total loans and securities 29,830 1,546 7,401 1,693 2,520 1,963 1,579 4,999 1,192 644 1,320 1,204 3,769 Cash items in process of collection 6,489 493 1,249 380 523 491 497 1,073 298 183 308 271 723 Bank premises 107 3 9 3 8 5 14 24 6 4 7 13 11 Other assets 363 18 92 21 32 21 20 ____57 14 9 15 17 47 TOTAL ASSETS 53,651 2,938 13,130 3,025 4,394 3,528 3,054 8,966 2,142 1,222 2,371 2,160 6,721 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 JUNE 13, 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 dollLars) L I A B I L I T I E S ^ Federal Reserve notes 28,904 1,716 6,680 1,830 2,553 2,328 1,652 5,256 1,234 589 1,197 843 3,026 Deposits: Member bank reserves 17,073 714 4,723 751 1,217 713 878 2,521 588 412 828 948 2,780 U.S. Treasurer-general account 458 2b 92 25 27 33 26 66 19 27 36 38 45 Foreign 225 10 1/67 13 21 10 12 30 7 5 9 12 29 Other 341 3 286 1 * 3 1 l 1 1 2 1 4i Total deposits 18,097 751 5,168 790 1,265 759 917 2,618 615 445 875 999 2,895 Deferred availability cash items 5,175 1*01 884 321 44o 371 406 882 242 154 237 235 602 Other liabilities and accrued dividends 76 k 19 b 7 5 4 12 3 2 ____3 _ 3 10 TOTAL LIABILITIES 52,252 2,872 12,751 2,945 4,265 3,463 2,979 8,768 2,094 1,190 2,312 2,080 6,533 CAPITAL ACCOUNTS Capital paid in 1*56 21 124 26 42 21 25 64 16 11 19 26 61 Surplus 888 k2 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 55 3 12 3 4 4 3 10 1 1 3 4 _____ 2_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2,938 13,130 3,025 , *Ll324 _JL528 _ i ^ 4 _ 8,966 2,142 1,222 Jk3Xl 2,160 . A m . . Contingent liability on accept­ ances purchased for foreign c orrespondents 110 5 2/30 6 10 _____ 5_ 6 ____ii_ 4 _____ a______ 5_ 6 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,039 1,759 6,953 1,893 2,700 2,415 1,710 5,366 1,284 671 1,229 900 3,159 Collateral for F. R. notes: Gold certificate account 7,725 450 1,600 530 720 650 450 1,4oo 340 160 310 215 900 Eligible paper 29 - - 6 -- mm -- 8 - - 15 -- -- U. S. Government securities 23.4l0 1,365 5.600 1.500 2.100 H 00 O O 1.300 4.100 1,, 010 5^0 ...950 75.5— 2,400- Total collateral 31,164 1,815 7, 200 2,036 2,820 2,450 1,750 5,500 1,358 690 1,275 970 3,300 Digit1iz/ed Afofr FtReArS EdRe ducting $158 million participations of other Federal Reserve Banks. * Less than $500,000 http:2//f/ra sAerf.sttloeuris fedde.odrgu/ cting $ 80 million participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis