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 June 21, 1962 The average of daily figures of total member bank reserves held during 20 $20,011 the week ended June increased $384 million to million. Estimated cur­ rency and coin of member banks increased $69 million and their reserve balances at the Federal Reserve Banks increased $315 million. Estimated required reserves increased $296 million; and estimated excess reserves increased $88 million to $470 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $346 million, compared with the revised figure of $335 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $475 million in Federal Reserve float, $77 million in U. S. Government securities held under repurchase agreement, and $77 million in member bank borrowings, and a decrease of $60 million in "other" F.R. accounts (net). The principal offsetting changes were a decrease of $316 million in U. S. Government securities bought outright and an increase of $63 million in foreign $308 deposits with Federal Reserve Banks. Total Reserve Bank credit increased million. As of Wednesday, June 20, holdings of U. S. Government securities bought outright were $231 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $177 million higher, and member bank bor­ rowings were $321 million higher. Outright holdings of bills, certificates, notes, end bonds decreased $l6l million, $49 million, $l4 million, and $7 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, June 20, June 13, June 21, June 20, and related items 1962 1962 1961 1962 (]Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,356 -316 +2 ,5H 29,397 Held under repurchase agreement 77 + 77 + 74 177 Acceptances--bought outright 32 -- - 6 30 Discounts and advances-- Member bank borrowings 124 + 77 + 82 434 Other 56 - 4 + 54 53 Float 1,779 +475 + 223 1,637 Total Reserve Bank credit 31,423 +368 +2 ,937 31,728 Gold stock 16,434 - 1 -1 ,053 16,435 Treasury currency outstanding 5,604 + 2 + 171 5,6o4 537561 +310 +2 ,055 53,767 Currency in circulation 33,654 - 9 +1,407 33,615 Treasury cash holdings 400 - 2 - 10 4o4 Treasury deposits with F. R. Banks 509 + 6 + 28 572 Foreign deposits with F. R. Banks 274 + 63 81 330 Other deposits with F. R. Banks 337 - 2 + 104 327 Other F. R. accounts (net) 996 - 60 - 25 954 +1 36,202 367170 - 5 ,585 Member bank reserves: With Federal Reserve Banks 17,291 +315 4* 471 17,564 Currency and coin (estimated) 2,720 + 69 + 244 2,984 Total reserves held 20,011 +354 + 715 20,548 Required reserves (estimated) 19,541 +296 + 791 19,631 Excess reserves (estimated) 470 + 88 - 76 917 On June 20, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $5,880 million, an increase of $159 million for the week and an increase of $245 million from the comparable date a Digitizyede aforr FRaAgSoE.R , ~ http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CGiioOLIDAiLD STATl-£-lEj! 1‘jL1 OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since June 20, June 13, June 21, 1962 1962 1961 A S S E T S Gold certificate account lb,991 - 12 -1,182 Redemption fund for F. R. notes 1,172 + 9 + 125 Total gold certificate reserves 16,163 3 -1,057 * Cash (31b) 373 + 18 3 Discounts and advances 487 + 315 + 4o6 Acceptances--bought outright 30 * " 7 U. S. Government securities: Bought outright— Bills 2,830 - 161 + 304 Certificates 5,568 - 49 - 932 Notes 17,168 l4 +2,583 Bonds 3,831 7 + 597 Total bought outright 29,397 - 231 +2, 552 Held under repurchase agreement 177 + 177 + 157 Total U. S. Government securities 297575 - 54 +2,709 Total loans and securities 30,091 + 261 +3,108 Cash items in process of collection (1,211) 6,570 +1,174 + 925 Bank premises 107 -- 4 Other assets 427 + 64 + 189 TOTAL ASSETS (1,585) 53,731 717515 +3,158 L I A B I L I T I E S Federal Reserve notes (374) 28,517 - 46 +1,260 Deposits: Member bank reserves 17,564 + 491 +1,004 U. S. Treasurer--general account 572 + 114 + 9 Foreign 330 + 105 + 154 Other 327 1 + 34 Total deposits 18,793 + 709 +1,201 Deferred availability cash items (1,211) 4,933 + 838 + 578 Other liabilities and accrued dividends 74 2 + 22 TOTAL LIABILITIES (1,585) 52,317 +1,499 +3,061 C A P I T A L A C C O U N T S Capital paid in 456 «. - + 33 Surplus 888 -- + 71 Other capital accounts 70 + 15 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,585) 53,731 +17515 +3,156 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shorn on the fol­ lowing pages--not consolidated) 33.9# - .% - 4.2# Contingent liability on acceptances purchased for foreign correspondents 109 1 - 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 20, 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 hkj 6 883 +257 l6 days to 90 days bO 2b 4,829 -194 91 days to 1 year * 11,440 -ll8 - - Over 1 year to 5 years - - - - 9,989 + 8l Over 5 years to 10 years - - 2,219 - 28 Over 10 years — 214 - 52 Digitized for FRASER Total 5H7 30 29,575 3-55 http://fraser.stlouisfed.org/ Federa*l R eLseesrvse Btahnka onf St$. L5o0ui0s,000.

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 20, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Danas Fran­ York delphia land mond Louis apolis City cisco (In millions3 of dol].ars) A S S E T S Gold certificate account 14,991 745 3,695 859 1,224 880 852 2,581 603 307 651 638 1,956 Redemption fund for F. R. notes 1,172 70 279 71 102 98 65 204 49 27 49 36 122 Total gold certificate reserves 16,163 815 3,974 930 1,326 978 917 2,785 652 335— 700 574“ 2,078 F. R. notes of other Banks 374 16 127 21 20 20 47 24 11 18 15 15 4o Other cash 373 23 76 19 31 21 31 64 18 10 11 13 56 Discounts and advances 487 4 117 16 50 11 12 148 15 2 25 5 82 Acceptances: Bought outright 30 -- 30 -- -- -- — — — “ — — — — — •* U. S. Government securities: Bought outright— Bills 2,830 147 701 161 240 187 150 474 113 61 124 114 358 Certificates 5,568 289 1,378 316 471 367 296 934 222 121 245 225 704 Notes 17,168 890 4,250 976 1,454 1,132 912 2,879 685 372 754 694 2,170 Bonds 3,831 198 949 218 325 252 203 642 153 83 169 155 484 Total 29,397 1,524 7/278“ 1,871 2,490 1,938“ l,56l 1,929 1,173 637" 1,292 1,18s- 3,716 Held under repurchase agreement 177 -- 177 — -- -- -- -- — — — - • - - - Total U. S. Government securities 29,574 1,524 7,455 1,671 2,490 1,938 1,561 4,929 1,173 637 1,292 1,188 3,716 Total leans and securities 30,091 1,528 7,602 1,687 2,540 1,949 1,573 5,077 1,188 639 1,317 1,193 3,798 Cash items in process of collection 7,781 554 1,731 450 6l4 562 540 1,215 310 204 367 362 872 Bank premises 107 3 9 3 8 5 14 24 6 4 7 13 11 Other assets 427 22 n o 24 37 24 24 66 16 10 18 21 55 TOTAL ASSETS 55,316 2,961 13,629 3,134 4,576 3,559 3,146 9,255 2,201 1,219 2,435 2,291 6,910 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 20, 1962 E.4.1(c) San Total Boston Neu Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dolJLars) L I A B I L I T I E S Federal Reserve notes 28,891 1,717 6,679 1,828 2,552 2,326 1,655 5,260 1,232 587 1,195 846 3,014 Deposits: Member hank reserves 17,564 690 4,813 759 1,309 744 893 2,718 603 403 842 990 2,800 U.S. Treasurer-general account 572 25 92 46 45 38 49 21 38 21 4o 43 114 Foreign 330 13 1/127 16 26 12 15 39 10 6 12 16 38 Other ^27 1 274 1 2 ... 3 1 2 1 l 2 l 38 Total deposits 18,793 729 5,306 822 1,382 797 958 2,780 652 431 896 1,050 2,990 Deferred availability cash items 6, l44 444 1,242 399 5C6 366 453 1,002 265 166 282 312 707 Other liabilities and accured dividends 74 4 19 4 6 4 4 13_. 3 _____ 2_._____ 3- 3 _____ 2_ TOTAL LIABILITIES 53,902 2,894 13,246 3,053 4,446 3,493 3,070 9,055 2,152 1,186 2,376 2,211 6,720 CAPITAL ACCOUNTS Capital paid in 456 21 124 26 42 21 25 64 16 11 19 26 61 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 70 4 16 4 5 5 4 12 2 _____ 2 _____ 3_ Q TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 55.316 2.961 13,629 3,134 4.576 .3,-552-_3, .146 -9*255- 2.201 1*233. __2jt35_ .2, .291 &S1Q- Contingent liability on accept­ ances purchased for foreign eorre spondent s 109 5 2/30 6 10 5 6 15 4 2 5 6 15 FEDERAL RESERVE AGENTS’ ACCOUNTS R. notes outstanding 30,083 1,757 6,988 1,884 2,707 2,409 1,727 5,367 1,287 669 1, 228 912 3,148 Collateral for F. R. notes: Gold certificate account 7,725 450 1,600 530 720 650 450 1, 400 34o 160 310 215 900 Eligible paper 49 - - - - 13 — -- — — 13 -- 23 -- — U. S. Government securities 23,410 1.365 5,6co 1,500 2,100 1,800 1.300 4,100 1,010 530 050 755 2.400 Total collateral 31,184 1,815 7, 200 2,043 2, 820 2, 450 1,750 5,500 1,363 690 1,283 970 3,300 Z] After deducting $203 million participations of other Federal Reserve Banks. Digitized for FR2A/S EARf ter deducting $ 79 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis