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. Bonks For immediate release H.4.1*'" July 19, 1962 The average of daily figures of total member hank reserves held during the reek ended July 18 decreased a net of $43 million to $20,096 million. Esti­ mated currency and coin of member banks increased $139 million and their reserve balances at the Federal Reserve Banks decreased $182 million. Estimated required reserves decreased $37 million; and estimated excess reserves decreased $6 million to $540 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $377 million, compared with the revised figure of $491 million the reek before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $566 million in U. S. Government securities bought outright and $92 million held under repurchase agreement, and $ll4 million in gold stock, and an increase of $44 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $108 million in member bank borrowings and $4l2 million in Federal Reserve float, and decreases of $64 million in currency in circulation and $93 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $l68 million. As of Wednesday, July 18, holdings of U. S. Government securities bought outright irere $425 million lover than a reek earlier, U. S. Government securities held under repurchase agreement were $42 million lower, and member bank borrowings were $612 million higher. Outright holdings of bills and bonds decreased $44l million and $12 million, respectively; certificates and notes increased $15 million and t>13 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 18, July 11, July 19, July 18, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 29,304 -5 66 +2,567 29,020 Held under repurchase agreement - 92 Acceptances-- Bought outright 39 + 5 + 5 38 Held under repurchase agreement 1 - 24 + 1 -- Discounts and advances-- Member bank borrowings 163 +108 + 108 654 Other 15 - 11 + i4 15 Float 2,039 +412 + 291 1,889 Total Reserve Bank credit 31,561 ^T€S +2,986 3l7ol6 Gold stock 16,298 -11k -1,249 16,298 Treasury currency outstanding 5,601 - 1 + 164 5,602 53,^60 -282 +1,900 53,516 Currency in circulation 3^,091 - 64 +1,457 34,007 Treastiry cash holdings 388 - 6 4 398 Treasury deposits with F. R. Banks 496 + 44 - 109 435 Foreign deposits with F. R. Banks 315 + 21 + 97 269 Other deposits with F. R. Banks 298 - 3 + 24 313 Other F. R. accounts (net) 607 - 93 - 339 644 36,195 -106 +1,126 36,066 Member bank reserves: With Federal Reserve Banks 17,265 -182 + 774 17,^51 Currency and coin (estimated) 2,831 +139 + 247 3,045 Total reserves held 20,096 - ^3 +1,021 20,496 Required reserves (estimated) 19,556 - 37 +1,170 19,632 Excess reserves (estimated) 540 - 6 - 149 864 On July 18, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,383 million, a decrease of $169 Digitizemdi folrl FiRoAnS ERf or the week and an increase of $725 million from the comparable date a http://fryaseear.rst loauigsfoed..org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION CF TEE TWELVE FEDERAL RESERVE BANKS (In m illions of dollars) Change since July 18, July 11, July 19, 1962 1962 1961 A S Gold certificate account lb, 850 -- -1,325 Redemption fund for F. R. notes 1,175 - 2 + 127 Total gold certificate reserves 16,025 - 2 -1,198 * Cash (387) 368 + 19 7 Discounts and advances 669 +612 + 497 Acceptances: Bought outright 3« + b + ? Held under repurchase agreement -- - 20 U. S. Government securities: Bought outright— , , . . Bills 2,167 -441 + Certificates 5,713 + 15 - 798 Notes 17,2jb + 13 +2, 628 Bonds 3,866 - 12 + 579 Total bought outright 29,020 7425 +2,453 Held under repurchase agreement -- - 42 Total U. S. Government securities 29,020 -467 +2,453 Total loans and securities 29,727 +131 +2,955 Cash items in process of collection (1,199) 5,865 +716 + 650 Bank premises 107 -- 4 Other assets 726 + 5 + 421 TOTAL ASSETS (1, 586) 52,818 +669 +2,817 L I A B I L I T I E S Federal Reserve notes (387) 28,897 -120 +1,302 Deposits: Member bank reserves 17,451 +607 +1,176 U. S. Treasurer--general account 435 - l - 211 Foreign 269 - 66 + 32 Other 313 + 94 + 48 Total deposits 18,468 +634 +1,045 Deferred availability cash items (1,199) 3,976 +4io + 352 Other liabilities and accrued dividends 62 - 6 + 21 TOTAL LIABILITIES (1,586) 51, 403 +918 +2,720 C A P I T A L A C C O U N T S Capital paid in 458 -- + 31 Surplus 888 -- + 71 Other capital accounts 69 - b9 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS^ 586) 52,“8lS +869 +2,817 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) 33.6# -.bio - 4.3$ Contingent lia b ility on acceptances purchased for foreign correspondents 81 - 3 68 * Figures in parentheses are the elim inations made in the consolidating process; see comparable figures on combined basis on following pages._________________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY l8, 1962 (Acceptances and securities"held under repurchase agreement are classified as maturing within 15 days in accordance with ma.ximum maturity of the agreements*) U. S. Government, securities Changes Discounts and advances Acceptances Holdings during week Within 15 days 652 10 305 - 86 16 days to 90 days 17 28 4,968 -115 91 days to 1 year -- Si' ST 11, l60 -278 Over 1 year to 5 yearn 10/154 + 12 Over 5 years to 10 years -- 2/219 — DigitizedO fvoer FrR A1S0E Ry ears * .214 -http://fraser.stlouisfed.org/ Total' 869 38 29,020 Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDEBAL RESERVE BANK ON July 18, 1962 Total Boston N Yo e r w k de P l h p i h l i a a ­ C l l a e n v d e­ m R o i n c d h­ Atlanta Chicago Lo S u t. is M ap i o n l n i e s ­ Ka C n i s t a y s Dallas Fr Sa a n n­ cisco (in millions of dol]Lars) A S S E T S Gold certificate account 14,850 760 3,669 856 1,202 917 862 2,476 6l6 3H 664 558 1,959 Redemption fund for F. F.. notes 1,175 70 277 71 104 95 64 208 50 27 48 39 122 Total gold certificate reserves 16,025 830 3,946 927 1,306 1,012 926 2,684 666 338 712 597 2,081 F. R. notes of other Banks 387 27 108 29 17 22 47 23 12 21 14 17 50 Other cash 368 24 74 17 32 18 30 66 17 10 10 12 58 Discounts and advances 669 14 189 21 63 18 ll 169 8 1 4l 56 78 Acceptances: Bought outright 38 -- 38 -- -- — _ — -» __ U. S. Government securities: Bought outright-- Bills 2,167 112 536 123 184 143 115 363 87 47 95 88 274 Certificates 5,713 296 1,415 324 484 37 6 304 958 228 124 251 231 722 Notes 17,274 896 4,277 982 1,463 1,139 917 2,897 689 374 759 698 2,183 Bonds 3*866 201 957 220 327 255 205 648 154 84 170 156 489 Total 29,020 1,505 7,185 1,649 2,458 1,913 1,551“ 4,866 1,158 ' 829 1,275 1,173 “37668 Held under repurchase agreement -- -- -- -- -- __ -- -- -- Total U. S. Government securities 29,020 1,505 7,185 1,649 2,458 1,913 i,54l 4,866 1,158 629 1,275 1,173 3,668 Total loans and securities 29,727 1,519 7,412 1,670 2,521 1,931 1,552 5,035 1,166 630 1,316 1,229 3,746 Cash items in process of collection 7,o64 550 1,424 398 576 520 505 1,162 283 203 344 275 824 Bank premises 1 107 3 9 3 8 5 l4 24 6 4 7 13 11 Other assets 726 36 188 42 65 4o 4o 109 27 16 31 36 06 TOTAL ASSETS 54,4o4 2,989 13,l6l 3,086 4,525 3,548 3,n4 9,103 2,177 1,222 2,434 2,179 6,86c Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY l8, 1962 San New Phila­ Cleve- Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Balias 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 29,28k 1,755 6,749 1,843 2,585 2, 368 1,684 5,341 1,245 584 1,205 867 3,058 Deposits: 17, 730 4,775 771 1,283 745 907 2,564 627 408 856 958 2,827 Member "bank reserves k51 U.S. Treasurer-general account 435 29 66 34 32 22 22 50 27 29 34 27 63 269 12 1/83 15 24 11 14 36 9 6 11 14 34 Foreign 313 1 261 1 1 4 1 2 * 1 1 4o Other 18,468 772 5,185 821 1,340 782 944 2,652 663 443 902 1, 000 2,964 -Total deposits Beferred availability cash items 5,175 391 830 339 463 327 407 901 218 159 265 229 646 Other liabilities and accrued 62 4 15 3 .. 5 ... 4 3 9 2 ....3. 3 3 8 dividends 52,989 2,922 12,779 3,006 4,393 3,481 3,038 8,903 2,128 1,189 2,375 2,099 6,676 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 458 22 124 26 43 21 25 64 16 ll 19 26 61 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 69 3 15 3 6 6 4 12 2 2 3 4 ____2_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,4o4 2,989 13,161 3,086 4,525 _...3.,_548 3,114 _9.U03 2_J.IL- 1.222 2jf34 2,179 6.866 Contingent liability oh accept­ ances purchased for foreign correspondents 81 4 2/22 5 8 4 4 ll 3 2 3 4 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,557 1,816 7,033 1,899 2,738 2,471 1,762 5,472 1,299 670 1, 240 931 3,226 Collateral for F. R. notes: Gold certificate account 7,84o 480 l, 600 530 720 700 485 l, 4oo 340 160 310 215 900 Eligible paper 67 — — 20 — -- 7 -- 4o — -- U. S. Government securities 23, Iko 1,390 5,600 1,500 2, ICC 1,805 1,300 4,300 1,010 .5.3.Q 950 „ 755 2,500, Total collateral 31,647 870 7, 200 2, 050 2, 820 2,505 1,785 5,700 1,357 690 1,300 970 3,400 l, 1/ After deducting $186 million participations of other Federal Reserve Banks. * Less than $500,000. Digitized 2fo/r FARAfStEeRr deducting $ 59 million participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis