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 HA.i...... July 12, 1962 The average of daily figures of total member bank reserves held during the 7 reek ended July 11 decreased $101 million to $20,lkl million. Estimated cur­ rency and coin of member banks decreased $21 million and their reserve balances at the Federal Reserve Banks decreased $80 million. Estimated required reserves decreased $133 million; and estimated excess reserves increased $32 million to $576 million. E::cess reserves exceeded member bank borrowings at the Federal Reserve Banks by $521 million, compared with the revised figure of $52k million the 7reelt before. The principal changes reducing average reserve balances Tdth Federal Reserve Banks 7rere decreases of $85 million in U. S. Government securities held under repurchase agreement, $65 million in member bank borro7dngs, and $23 mil­ lion in gold stock, and an increase of $297 million in currency in circulation. The principal offsetting changes 7rere increases of $163 million in U. S. Govern­ ment securities bought outright and $129 million in Federal Reserve float, and decreases of $81 million in Treasury deposits 7Tith Federal Reserve Banks and $36 million in foreign deposits 7dth Federal Reserve Banks. Total Reserve Bank credit increased $132 million. As of Wednesday, July 11, 1962, holdings of U. S. Government securities bought outright 7 re re $759 million lor^er than a 7reek earlier, U. S. Government securities held under repurchase agreement rrere $98 million lorTer, and member bank borroTdngs 7rere $38 million lo7rer. Outright holdings of bills, certificates, notes, and bonds decreased $698 million, $20 million, $l6 million, and $15 million, re­ spectively. Averages of daily figures Member bank reserves, Week ended Change from 7reek ended Wednesday Reserve Bank credit, July 11, July 5, July 12, July 11, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,870 +163 +2,6o5 29,555 Held under repurchase agreement 92 - 85 + 92 52 Acceptances-- Bought outright 35 + 1 1 32 Held under repurchase agreement 25 - 5 + 25 20 Discounts and advances-- Member bank borrordngs 55 - 65 + 8 52 Other 26 - 7 + 25 15 Float 1,627 +129 + 336 1,583 Total Reserve Bank credit 31,729 +132 +3,088 31,179 Gold stock l6,5l2 - 23 -1,138 16,298 Treasury currency outstanding 5,602 -- + 169 5,600 53,752 +I08 +2,118 53,077 Currency in circulation 35,155 +297 +1,358 35,152 Treasury cash holdings 395 - 5 + 9 397 Treasury deposits 7-dth F. R. Banks 552 - 81 + 62 536 Foreign deposits 7.dth F. R. Banks 29k - 36 + 63 335 Other deposits 7dth F. R. Banks 301 + 11 + 56 219 Other F. R. accounts (net) 700 + 1 - 296 705 36,295 +188 +17251 36,233 Member bank reserves: With Federal Reserve Banks 17,557 - 80 + 877 16,855 Currency and coin (estimated) 2,695 - 21 + 161 3,085 Total reserves held 207151 -101 +1,038 19,929 Required reserves (estimated) 19,565 -133 +1,119 19,555 Excess reserves (estimated) 576 + 32 - 81 385 On July 11, 1962, U. S. Government securities held in custody by the Fed­ eral Reserve Banks for foreign account 7rere $6,552 million, an increase of $262 mil­ Digitize l d i o fo n r F R f A o S r E R the 7reek and an increase of $875 million from the comparable date a year http://fraagseor..stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) consolidated statement of condition OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since July 11, July 1), July 12, 1962 . 196.2. 1961 A S S E T S Gold certificate account 1*, 850 - 135 -1,351 Redemption fund for F. R. notes 1,177 + 7 + 129 Total gold certificate reserves 16, 027 - 128 -1,222 Cash (338) 3k9 6 -- Discounts and advances 57 - 56 + 13 Acceptances: Bought outright 32 — 1 Held under repurchase agreement 20 12 + 20 U. S. Government securities: Bought outright— Bills 2,608 - 698 - 91 Certificates 5,698 - 20 - 813 Notes 17,261 - 16 +2,615 Bonds 3,878 - 15 + 591 Total bought outright 29, **5 7*9 +2, 302 Held under repurchase agreement k2 - 98 + 1)2 Total U. S. Government securities 29, *87 - 8k7 +2, 31* Total loans and securities 29,596 - 915 +2,376 Cash items in process of collection (91*0 5,1*9 + 108 + 188 Bank premises 107 + 1 1) Other assets 721 + 7 + *33 TOTAL ASSETS (1,252)51,9*9 - 933 +1,771 L I A B I L I T I E S Federal Reserve notes (338)29,017 + 88 +1,300 Deposits: Member bank reserves 16,81)4 -1,01)5 + 357 U. S. Treasurer— general account 1+3 6 - 5* - 57 Foreign 335 + 29 + 119 Other 219 - 75 - 50 Total deposits 17,83* -1,1*5 + 369 Deferred availability cash items (91*) 3,566 + 10l) - 86 Other liabilities and accrued dividends 68 + 6 + 26 TOTAL LIABILITIES (1,252)50,1)85 - 9*7 +1,609 C A P I T A L A C C O U N T S Capital paid in 1)58 -- + 32 Surplus 888 -- + 71 Other capital accounts 118 + I* + 59 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 252)5179*9' - 933 +1,771 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*.0$ + .5# - 3.9# Contingent liability on acceptances purchased for foreign correspondents 81) + 2 - 65 * Figures in parentheses are the eliminations made in the consolidating process; see ccmparahle figures on combined basis on following pages._______________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 11, 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 38 27 391 -*23 l6 days to 90 days 19 25 5,083 -35* 91 days to 1 year -- -- 11,*38 - 65 Over 1 year to 5 years - - -- 10,1*2 - 5 Over 5 years to 10 years -- 2,219 -- DigitizedO fovre FrR A1S0E Ry ears -- - - 21* -http://fraser.stloTuoistfeadl.org/ 57 52 29, *8? *5*7 Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 11, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (in millions of dol]Lars) A S S E T S Gold certificate account 14,850 811 3,342 874 1,220 947 885 2,623 592 307 688 594 1,967 Redemption fund for F. R. notes 1,177 70 278 71 103 96 65 208 50 27 48 39 122 Total gold certificate reserves 16,027 881 3,620 945 1,323 1,043 950 2,831 552“ 334 736 633“ 2,089 Fo R* notes of other Banks 338 18 io4 22 15 18 45 20 8 17 14 l4 43 Other cash 349 22 69 17 31 18 29 63 16 9 9 11 55 Discounts and advances 57 6 7 6 2 4 2 16 l 1 5 4 3 Accentances: Bought outright 32 -- 32 — - “ — *** ** — 20 — — 20 — M Held under repurchase agreement U. S. Government securities: Bought outright-- Bills 2,6c8 135 646 l48 221 172 138 437 io4 57 115 105 330 Certificates 5,698 296 l,4io 324 483 375 303 956 227 124 250 230 720 Notes 17,261 895 4,274 981 1,462 1,138 916 2,894 689 374 758 698 2,182 3,878 201 960 220 328 256 206 650 155 84 171 157 490 Bonds Total 29, Mi-5 1,527 7,290 1,673 2;494. 1,941" 1,563 4,937 1,175 63'9‘ ‘ 1,294 l,i90 3,722 Held under repurchase agreement 42 -- 42 -- — -- — - “ “* “ “ — 'Octal U. S. Government securities 29,487 1,527 7,332 1,673 2,494 1,941 1,563 4,937 1,175 639 1,294 1,190 3,722 Total loans and securities 29,596 1,533 7,391 1,679 2,496 1,945 1,565 4,953 1,176 640 1,299 1,194 3,725 Cash items in process of collection 6,063 4l4 1,171 365 485 458 477 976 271 180 307 249 710 Bank premises 107 3 9 4 8 5 l4 24 6 4 6 13 11 Other assets 721 36 188 42 66 38 39 108 26 17 31 36 94 TOTAL ASSETS 53,201 2,907 12,552 3,074 4,424 3,525 3,119 8,975 2,145 1,201 2,402 2,150 6,727 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 11, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of dol]Lars) L I A B I L I T I E S Federal Reserve notes 29,355 1,763 6,759 1,848 2, 588 2,370 1,689 5,345 1,248 588 1,211 868 3,078 Deposits: Member hank reserves 16,844 714 4,379 809 1, 263 722 902 2,570 598 403 843 939 2,702 U.S. Treasurer-general account 436 32 9 25 29 35 43 38 28 24 35 32 106 Foreign 335 15 i/109 18 29 14 17 43 11 7 13 17 42 Other 219 * 165 * 1 6 1 2 * * 2 1 4l Total deposits 17,83k 751 4,662 852“ 1,322 777 96J" 2,653 63T" 434 893 989 2,891 Deferred availability cash items 4,480 310 719 287 374 304 386 757 207 143 234 208 551 Other liabilities and accrued dividends 68 4 16 4 5 4 3 11 2 2 ______3________3 11 TOTAL LIABILITIES 51,737 2,838 12,156 2,991 4,289 3,455 3, o4i 8,7 66 2,094 1,167 2,341 2,068 6,531 CAPITAL ACCOUNTS Capital paid in 458 22 124 26 43 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 118 5 29 6 9 9 6 21 4 3 5 6 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,201 2,907 12,552 3,074 4,424 3,525 3,H9 8,975 2,145 l, 201 2, 402 2,150 6,727 Contingent liability on accept­ ances purchased for foreign correspondent s 84 4 2/23 5 8 4 4 12 3 2 3 5 11 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 30,472 1,800 7,013 1,903 2,736 2, 454 1,759 5,448 1,300 671 1,245 934 3,209 Collateral for F. R. notes: Gold certificate account 7,780 470 1,600 530 720 650 485 1,400 34o 160 310 215 900 Eligible paper 9 — -- 5 — — — * — 4 -- -- U. S. Government securities 23,665 1,390 5,600 1,500 2,100 1,830 1,300 4,300 1.010 530 950______Z55_ 2.400 Total collateral 31,454 1,860 7, 200 2,035 2,820 2,480 1,785 5,700 1,350 690 1,264 970 3,300 * Less than $500,000. .2_/Aftex deducting $ 6lmillion participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis