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.l" July 5> 1962 The average of daily figures of total member bank reserves held during the week ended July 4 increased a net of $l66 million to $20,220 million* Est­ imated currency and coin of member banks decreased $117 million and their reserve balances at the Federal Reserve Banks increased $283 million. Estimated required reserves incres,sed $109 million; and estimated excess reserves increased $57 mil­ lion to $539 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $419 million, compared with the revised figure of $314 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $474 million in U. S. Government securities bought outright and $90 million held under repurchase agreement, and a decrease of $187 million in "other" F.R. accounts (net). The principal offsetting changes were decreases of $48 million in member bank borrowings and $170 million in Federal Reserve float, and an increase of $274 million in currency in circulation. Total Reserve Bank credit increased $361 million. As of Wednesday, July 4, holdings of U. S. Government securities bought outright were $959 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $8 million lower, and member bank borrowings were $279 million lower. Outright holdings of bills, certificates, notes, and bonds increased $672 million, $l4o million, $87 million, and $60 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 4, June 27, July 5, July 4, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,707 +474 +2,433 30,194 Held under repurchase agreement 177 + 90 + 168 l4c Acceptances-- Bought outright 33 + 3 3 32 Held under repurchase agreement 29 + 27 + 29 32 Discounts and advances— Member bank borrowings 120 - 48 + 72 80 Other 33 - 15 + 32 33 Float 1,498 -170 + 296 1,579 Total Reserve Bank credit 31,597 +361 +3,029 32,096 Gold stock 16,435 + 2 -1,115 16,435 Treasury currency outstanding 5,602 + 2 + 167 5,602 "537634 +365 +2", 08l 547127 Currency in circulation 33,858 +274 +1,374 34,058 Treasury cash holdings 398 + 2 + 10 3 $8 Treasury deposits with F. R. Banks 533 - 17 + 99 490 Foreign deposits with F. R. Banks 330 - 13 + 97 306 Other deposits with F. R. Banks 290 + 24 - 27 294 Other F. R. accounts (net) 699 -187 - 308 692 36,107 + 82 +1,244 36,238 Member bank reserves: With Federal Reserve Banks 17,527 +283 + 838 17,889 Currency and coin (estimated) 2,693 -117 + 296 2,702 Total reserves held 20,220 +166 +1,134 20,591 Required reserves (estimated) 19,681 +109 +1,142 19,650 Excess reserves (estimated) 539 + 57 8 1 941 On July 4, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account were $6,290 million, a decrease of $l6 mil­ Digitizeldi foorn F RfAoSrE R the week and an increase of $613 million from the comparable date a year http://fraser.stlouisfed.org/ ago. Federal Reserve Bank of St. Louis

CUWSULiDATED SlATilW iTO F CONDITION OF THE m V B FEDERAL RESERVE BANKS (in millions of dollars) Change since July b, June 27, July 5, 1962,__ 1962 1961 A S S E T S Gold certificate account 1^,985 - 5 -1,226 Redemption fund for F. R. notes 1,170 + 2 + 129 Total gold certificate reserves 16,155 - ' 3 -1,097 „/yy. Cash (303) 355 - 17 + 16 Discounts and advances 113 -280 + 52 Acceptances: Bought outright 32 + 2 3 Held under repurchase agreement 32 + 18 + 32 U. S. Government securities: Bought outright— Bills 3,306 +672 + 367 Certificates 5,718 +140 - 793 Notes 17,277 + 87 +2,631 Bonds 3,893 + 60 + 606 Total bought outright 30,19s +959 +2,611 Held under repurchase agreement iko - 8 + 1^0 Total U. S. Government securities 30,33b +951 +2,951 Total loans and securities 30,511 +691 +3,032 Cash items in process of collection (987) 5,041 - 35 + 903 Bank premises 106 - 1 5 Other assets 71U + 22 + bbl TOTAL ASSETS (1,290) 52,882 +657 +3,290 L I A B I L I T I E S Federal Reserve notes (303) 28,929 +393 +1,184 Deposits: Member bank reserves 17,889 +698 +1,365 U. S. Treasurer--general account 490 - 88 + l-fcl Foreign 306 - 36 + 31 Other 29b + 61 + 60 Total deposits 18,979 +635 +1,597 Deferred availability cash items (987) 3,^62 -372 + 387 Other liabilities and accrued dividends 62 - 18 + 16 TOTAL LIABILITIES (1,290) 5I7S32 +638 +37l8^ C A P I T A L A C C O U N T S Capital paid in k58 + 1 + 33 Surplus 888 -- + 71 Other capital accounts 10U + 18 + 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,290 ) 527682 ?T57 +3,290 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 • 5$ -.7i - b.5% Contingent liability on acceptances purchased for foreign correspondents 82 - 20 - 73 -* 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, JULY U, 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 88 ' bl 8l4 +331 16 days to 90 days 25 23 5, ^37 +329 91 days to 1 year ** - - +151 11,503 Over 1 year to 5 years -- -- 10,ib l +1^0 Over 5 years to 10 years -- -- 2,219 Over 10 years - «. 21^ - Digitized T fo o r F t R a A l SER Il3 6S 30,33S +951 http*:/*/f raLseer.ssstlo utishfeadn.o rg$/ 500,000. Federal Reserve Bank of St. Louis

H.4.l(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN JULY 4, 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 dollars) A S S E T S Gold certificate account 14,985 818 3,663 821 1,236 908 821 2,591 579 310 706 6l6 1,916 Redemption fund for F. R. notes 1,170 70 278 69 101 96 65 208 49 27 48 37 122 Total gold certificate reserves 16,155 888 3,941 890 1,337 l,oo4 886 2,799 628 337 754 653 2,038 F. R. notes of other Banks 303 13 94 15 16 i4 46 17 8 19 13 16 32 Other cash 355 22 68 17 31 19 30 65 18 10 11 13 51 Discounts and advances 113 6 13 9 7 8 5 33 3 2 13 2 12 Acceptances: Bought outright 32 -- 32 -- -- — -- -- -- -- — — — Held under repurchase agreement 32 -- 32 -«* -- -- — — -- -- --- U. S. Government securities: Bought outright-- Bills 3,306 171 818 188 280 218 176 554 132 72 136 134 427 Certificates 5,718 297 l,4l6 325 484 377 303 959 228 124 235 231 739 Notes 17,277 896 4,278 982 1,463 1,139 917 2,897 689 375 711 698 2,232 Bonds 3,893 202 964 221 330 257 207 653 155 84 160 157 503 Total 30,194 1,566 7,476 1,716 2,557 1,991 1,603 5,063 1,204 655 1,242 1,220 3,901 Held under repurchase agreement l4o -- l4o -- -- -- -- -- ... -- — -- -- Total U. S. Government securities 30,334 1,566 7,616 1,716 __ 2,_5_52_ 1,991 1,603 .5,063 . 1,204 655 1,242 1,220 3,901 Total loans and securities 30,511 1,572 7,693 1,725 2,564 1,999 1,608 5,096 1,207 657 1,255 1,222 3,913 Cash items in process of collection 6,028 424 1,319 365 446 471 520 895 275 166 290 237 620 Bank premises 106 3 9 3 8 5 14 24 6 4 6 13 11 Other assets 714 35 186 4l 65 38 39 107 26 16 31 36 94 TOTAL ASSETS 54,172 2,957 13,310 3,056 4,467 3,550 3,143 9,003 2,168 1,209 2,360 2,190 6,759 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 JULY 4, 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 dollars) L I A B I L I T I E S Federal Reserve notes 29,232 1,755 6,765 1,84l 2,565 2,358 1,676 5,315 1,238 586 1,204 857 3,072 Deposits: Member hank reserves 17,889 716 4,882 781 1,347 748 951 2,687 638 427 836 1,009 2,867 U.S. Treasurer-general account 490 33 50 32 44 18 43 71 24 29 29 38 79 Foreign 306 14 1/87 17 28 14 16 42 10 7 13 17 4l Other 294 1 238 2 2 4 1 2 1 1 .... 3 1 38 Total deposits 18,979 764 5,257 832 1,421 784 1,011 2,802 673 464 881 1,065 3,025 Deferred availability cash items 4,449 366 880 296 343 336 375 670 204 124 211 184 46o Other liabilities and accrued dividends 62 4 16 4 4 3 _ 4 10 2 2 ..... 3 _ 2 8 TOTAL LIABILITIES 52,722 2,889 12,918 2,973 4,333 3,48l 3,066 8,797 2,117 1,176 2,299 2,108 6,565 CAPITAL ACCOUNTS Capital paid in 458 22 124 26 43 21 25 64 16 11 19 26 6l Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts io4 4 .... 25 6 .....8 . 8 _ s ....18 4 2 -n.. S - 6 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,172 2,957 13,310 3,056 4,467 3,550 3,143 9,003 2,168 1,209 2,360 2,190 6,759 Contingent liability on accept­ ances purchased for foreign corre spondent s 82 4 2/22 5 8 4 4 11 3 2 3 5 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30, 242 1,782 7,012 1,881 2,703 2,440 1,737 5,415 1,288 666 1,227 911 3,180 Collateral for F. R. notes: Gold certificate account 7,780 470 1,600 530 720 650 485 1,400 340 160 310 215 900 Eligible paper 20 - - 7 - - — - - 2 — 11 - - - - U. S. Government securities 23,410 1, 365 5.600 1. 500 2.100 1,800 1,300 4.100 1.010 530 ... 950 755 . 2.400 Total collateral 31, 210 1,835 7,200 2,037 2,820 2,450 1,785 5,500 1,352 690 1,271 970 3,300 l/ After deducting $219 million participations of other Federal Reserve Banks. 2/ After deducting $ 60 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis