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 28, 1962 The average of daily figures of total member bank reserves held during the week ended June 27 increased a net of $4 million to $20,043 million. Estimated currency and coin of member banks increased $51 million and their reserve balances at the Federal Reserve Banks decreased $47 million. Estimated required reserves increased $1 million; and estimated excess reserves increased $3 million to $474 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $306 million, compared with the revised figure of $347 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $123 million in U. S. Government securities bought outright and $111 million in Federal Reserve float, and increases of $4l million^ in Treasury deposits with Federal Reserve Banks and $69 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $44 million in member bank borrowings, and decreases of $70 million in currency in circulation, $71 million in "other" deposits with Federal Reserve Banks, and $110 million in "other" F.R. accounts (net). Total Reserve Bank credit decreased $187 million. As of Wednesday, June 27, holdings of U. S. Government securities bought outright were $l62 million lover than a week earlier, U. S. Government securities held under repurchase agreement were $29 million lower, and member bank borrowings were $75 million lover. Outright holdings of bills decreased $196 million; cer­ tificates, notes, and bonds increased $10 million, $22 million, and $2 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday. Reserve Bank credit, June 27, June 20, 1 June 28, June 27, and related items 1962 1962 1 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright— System account 29,233 -123 +2,4l6 29,235 Held under repurchase agreement 87 + 10 + 84 l48 Acceptances-- Bought outright 30 - 2 7 30 Held under repurchase agreement 2 + 2 + 2 14 Discounts and advances— Member bank borrowings 168 + 44 + 87 359 Other 48 - 8 + 45 34 Float l, 668 -111 + 289 1,242 Total Reserve Bank credit 31,236 -187 +2,917 31,062 Gold stock 16,433 - 1 -1,100 16,435 Treasury currency outstanding 5,600 - 4 + l66 5,600 53,269 -192 +1,984 53,097 Currency in circulation 33,584 - 70 +1,382 33,629 Treasury cash holdings 396 - 4 8 4ll Treasury deposits with F. R. Banks 550 + 4l - 74 578 Foreign deposits with F. R. Banks 343 + 69 + 122 342 Other deposits with F. R. Banks 266 - 71 + 7 233 712 Other F. R. accounts (net) 886 -no - 137 36,025 -145 +1,292 35,905 Member bank reserves: With Federal Reserve Banks 17,244 - 47 + 691 17,191 Currency and coin (estimated) 2,799 + 51 + 232 3,095 Total reserves held 207553 + 4 + 923 20,286 Required reserves (estimated) 19,569 + 1 +1,076 19,596 690 Excess reserves (estimated) 474 + 3 - 153 On June 27, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,306 million, an increase of Digitize$d4 f2or6 F RmAiSlElRi on for the week and an increase of $504 million from the comparable http://fraser.stlouisfed.org/ date a year ago. Federal Reserve Bank of St. Louis

H 4.1(a) CONSOLIDATED STATEMEM1 OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since 'une 27, June 20, June 28, 1962 1962 1961 A S S E T S Gold certificate account 14,990 1 -1,208 Redemption fund for F. R. notes 1,168 4 + 125 Total gold certificate reserves 16,158 5 -1,083 Cash (383) 372 1 3 Discounts and advances 393 - 94 + 307 Acceptances: Bought outright 30 ... 5 Held Tinder repurchase agreement 14 + 14 + l4 U. S- Government securities: Bought outright— Bills 2,634 - 196 + 179 Certificates 5, 578 + 10 - 922 Notes 17,190 + 22 +2,605 Bonds 3,833 + 2 + 599 Total bought outright 29,235 - 162 +2,461 Held under repurchase agreement 148 - 29 + 148 Total U. S. Government securities 29,383 - 191 +2,609 Total loans and securities 29,820 - 271 +2,925 Cash items in process of collection (1,048) 5,076 -1,494 + 635 Bank premises 107 — 4 Other assets 692 + 265 + 44o TOTAL ASSETS 52,225 -1,506 +2,910 L I A B I L I T I E S Federal Reserve notes 28,536 + 19 +1,226 Deposits: Member hank reserves 17,191 - 373 +1,086 U. S- Treasurer— general account 578 + 6 - 71 Foreign 342 + 12 + 142 Other (**) 233 - 94 - 85 Total deposits 18,344 - 45^ +1,072 Deferred availability cash items 3,834 -1,099 + 486 Other liabilities and accrued dividends 80 + 6 + 27 TOTAL LIABILITIES 50,795 -1,523 +2,811 C A P I T A L A C C O U N T S Capital paid in 457 + 1 + 33 Surplus 888 -- + 71 Other capital accounts 86 + 16 5 52,225 -1,506 +2,910 Ratio of gold certificate reselves to deposit and F. R. note liabilities combined (com­ puted from figures as shown on the fol­ lowing pages— not consolidated) 34.2# + .3* - 4.20 Contingent liability on acceptances purchased for foreign correspondents 102 7 - 54 * Figures in parentheses are the eliminations made in the consolidating process; _____see comparable figures on combined basis on following pages._________________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 27, 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 356 21 483 -400 16 days to 90 days 37 23 5,108 +279 91 days to 1 year ** — 11,352 - 88 Over 1 year to 5 years — — 10,007 + 18 Over 5 years to 10 years -- -- 2,219 — Over 10 years -- — 214 — Digitized for FTRoAtSaElR 393 m 29,383 -191 http://fraser.stlouisfed.org/ ** Less than $500,000. Federal Reserve Bank of St. Louis

H. 4. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 27, 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] _ars) A S S E T S Gold certificate account 14,990 794 3,7H 845 1,239 970 803 2,647 577 288 598 6ll 1,907 Redemption fund for F. R. notes 1,168 70 278 70 102 97 65 203 49 27 48 37 122 Total gold certificate reserves 16,158 864 3,989 915 1,341 1,067 868 2,850 626 315 646 648 2,029 F. R. notes of other Banks 383 17 123 21 20 19 51 24 12 21 17 16 42 Other cash 372 23 71 19 31 21 31 66 18 10 11 14 57 Discounts and advances 393 12 115 15 46 59 8 75 9 6 29 4 15 Acceptances: Bought outright 30 •» «■» 30 — — - — - * - _ - „ — Held under repurchase agreement 14 -- 14 — -- -- -- -- -- -- -- -- U. S. Government securities: Bought outright-- Bills 2,634 136 652 150 223 174 l4o 442 105 57 116 106 333 Certificates 5,578 290 l,38l 317 472 368 296 935 223 121 245 225 705 Notes 17,190 891 4,256 977 1,456 1,133 913 2,882 686 373 755 695 2,173 Bonds 3,833 199 949 217 325 253 203 643 . 153 83 168 155 485 Total 29,235 1,516 7,238 1,661 2,476 1,928 1,552 4,902 1,167 634 1,284 l,l8l 3,69^“ Held under repurchase agreement 148 -- 148 -- -- -- -- -- -- -- -- -- -- Total U. S. Government securities 29,383 1,516 7,386 l,66l 2,476 1,928 1,552 4,902 1,167 634 1,284 1,181 3,696 Total loans and securities 29,820 1,528 7,545 1,676 2,522 1,987. 1,560 4,977 1,176 64o 1,313 1,185 3,7H Cash items in process of collection 6,124 499 1,246 374 482 426 433 923 270 165 300 267 739 Bank premises 107 3 9 3 8 5 14 24 6 4 7 13 11 Other assets 692 34 182 4o 63 37 37 102 25 16 30 35 91 TOTAL ASSETS 53,656 2,968 13,165 3,048 4,467 3,562 2,994 8,966 2,133 1,171 2,324 2,178 6,680 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 27, 1962 San Total Boston New Phila- Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Balias Fran­ York delphia land mond Louis apolis City cisco (In millions of dol].ars) L I A B I L I T I E S Federal Reserve notes 28,919 1,730 6,698 1,826 2,549 2,341 1,653 5,260 1,231 584 1,191 845 3,011 Deposits: Member hank reserves 17,191 678 4,878 772 1,295 726 869 2,573 593 379 787 963 2,678 U.S. Treasurer-general account 578 k6 36 27 32 87 17 86 27 22 35 42 121 Foreign 342 15 l/ll4 18 29 14 17 44 11 7 13 18 42 Other 233 * 187 1 1 2 1 1 * l 1 * 38 Total deposits 18,344 739 5,215 818 1,357 829 904 2,704 631 409 836 1,023 2,879 Deferred availability cash items 4,882 427 844 319 422 320 356 7 86 218 142 234 225 589 Other liabilities and accrued dividends 80 4 21 4 ...r-.7.. 5 4 .. 13. . 3 .... 3 .. 3 4 9 TOTAL LIABILITIES 52,225 2,900 12,778 2,967 ^ 335 3,495 2,917 8,763 2,083 1,138 2, 264 2,097 6,488 CAPITAL ACCOUNTS Capital paid in 457 22 124 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 86 4 20 4 . .7. .......6 ____ 5. 15 .3 . P 4 r 11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,656 2,968 13,165 3,048 4,467 3,562 2,994 8,966 2,133 1,171 2,324 2,178 6,680 Contingent liability on accept­ ances purchased for foreign c orre spondent s 102 5 2/28 6 10 5 5 l4 3 2 4 6 14 FEDERAL RESERVE AGENTS’ ACCOUNTS F. R. notes outstanding 30,115 1,771 6,996 1,886 2,704 2, 428 1,719 5,374 1,284 668 1,222 914 3,149 Collateral for F* R« notes: Gold certificate account 7,745 470 1,600 530 720 650 450 1, 400 340 160 310 215 900 Eligible paper 49 - - — 13 • - - - 8 28 «. — U. S. Government securities 23,4io 1,365 5.600 1.500 2, ICO 1.800 1.300 4.100 1.010 ..530. 050 755 *pI P Total collateral 31,204 1,835 7, 200 2,043 2,820 2,450 1,750 5,500 l, 358 690 1, 288 970 3,300 l/ After deducting $228 million participations of other Federal Reserve Banks. * Less than $500,000 Digitized for F2R/A SAEfRt er deducting $ 74 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis