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 August 2, 1962 H.4.1 The average of daily figures of total member bank reserves held during the reek ended August 1 decreased a net of $179 million to $19,824 million. Estimated currency and coin of member banks increased $11 million and their reserve balances at the Federal Reserve Banks decreased $190 million. Estimated required reserves decreased $3 million; and estimated excess reserves decreased $176 million to $400 million. Excess reserves exceeded member bank borrorings at the Federal Reserve Banks by $330 million, compared rith the revised figure of $517 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks vere decreases of $622 million in Federal Reserve float, $101 mil­ lion in gold stock, and an increase of $26 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes vere an increase of $362 million in U. S. Government securities bought outright and decreases of $123 million in Treasury deposits vith Federal Reserve Banks and $90 million in currency in circulation. Total Reserve Bank credit decreased $249 million. As of Wednesday, August 1, holdings of U. S. Government securities bought outright uere $779 million higher than a reek earlier and member bank borrovings vere $58 million higher. Outright holdings of bills, certificates, and notes, increased $713 million, $14 million, and $52 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 1, July 25, [ Aug. 2, Aug. 1, and related items 1962 1962 1 1961. 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright— System account 29,592 +362 +2,363 29,959 Held under repurchase agreement -- -- - 90 Acceptances-- Bought outright 43 + 3 + 10 42 Held under repurchase agreement 1 - 3 + 1 1 Discounts and advances— Member bank borrowings 70 + 11 5 179 Other 15 -- + 15 15 Float 1,3^6 -622 + 265 1,084 Total Reserve Bank credit 31,066 -249 +2,558 31,280 Gold stock 16,168 -101 -1,359 16,148 5,601 Treasury currency outstanding 5,6o4 + 1 + 77 52,837 -350 +1,275 53,029 Currency in circulation 33,811 - 90 +1,361 33,845 Treasury cash holdings 415 + 11 - 29 423 Treasury deposits with F. R. Banks 428 -123 28 333 Foreign deposits with F. R. Banks 234 + 13 4 25b Other deposits with F. R. Banks 3^3 + 26 + 37 3^4 Other F. R. accounts (net) 643 + 2 - 326 639 35,875 AES0 +1,012 35,846 Member bank reserves: With Federal Reserve Banks 16,962 -190 + 263 17,189 Currency and coin (estimated) 2,862 + 11 + 275 3,009 Total reserves held 19,824 -179 + 538 20,198 Required reserves (estimated) 19,424 - 3 + 615 19,532 Excess reserves (estimated) 400 -176 - 77 666 On August 1, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account vere $6,039 million, a decrea.se of Digitized$ fo3r6 F3R AmSEiRl lion for the veek and an increase of $319 million from the comparable http://fraser.stlouisfed.org/ date a year ago. Federal Reserve Bank of St. Louis

H.1(a) CONSOLIDATED STATEMENT OE CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Aug. 1, July 25, Aug. 2, 1962 1962 1961 A S S E T S Gold certificate account 14,665 - 60 -1,560 Redemption fund for F. R« notes 1,206 -- + 163 Total gold certificate reserves 15,871 - 60 -1,397 Cash (429) 380 - 1 - 15 Discounts and advances 194 + 58 + 26 Acceptances: Bought outright 42 + 2 + 9 Held -under repurchase agreement 1 + 1 + 1 U. S. Government securities: Bought outright-- Bills 3,007 +713 + 638 Certificates 5,745 + l4 +4,023 Notes 17,341 + 52 -2,499 Bonds 3,866 -- + 372 Total bought outright 29,959 +779 +2, 534 Held under repurchase agreement -- - l44 Total U. S. Government securities 29,959 +779 +2, 390 Total loans and securities 30,196 +84o +2, 426 Cash items in process of collection (1,053) 4,8l8 -155 + 393 Bank premises 106 - 2 5 Other assets 768 + 22 + 505 TOTAL ASSETS (1,482) 52,139 +644 +1,907 L I A B I L I T I E S Federal Reserve notes (429) 28,770 + 4-5 +1,260 Deposits: Member bank reserves 17,189 +538 + 386 U. S. Treasurer--general account 333 -232 - 213 Foreign 256 + 19 + 45 Other 344 + 4l + 11 Total deposits 18,122 +366 + 229 Deferred availability cash items (1,053) 3,734 +213 + 304 Other liabilities and accrued dividends 66 + 5 + l4 TOTAL LIABILITIES (1,482) 507692 +629 +1,867" C A P I T A L a c c o u n t s Capital paid in """ 459 + 1 + 30 Surplus 888 -- + 71 Other capital accounts 100 + i4 1 i(l, 482) 52,139 T m +1,907 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com­ puted from figures as shot/n on the fol­ lowing pages— not consolidated) 33-5$ - 4.2<jo Contingent liability on acceptances purchased for foreign correspondents 80 - 63 * 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, AUGUST 1, 1962 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance vith maximum maturity of the agreements.) U. S. Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 175 13 4,118 +3,697 16 days to 90 days 19 30 1, 565 -3,359 91 days to 1 year 11,687 + 441 10,156 -- Over 1 year to 5 years - - Over 5 years to 10 years -. - 2,219 -- DigitizedO fovr eFrR A1SE0R years -- ... 214 -http://fraser.stlo T ui o sf t ed a . l or g/ 194 S3 29,959 + 779“ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1962 San Total Boston Nev Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne- Kansas Dallas Fran­ York delphia land mond Louis apolis C ity cisco (In m illions of dollars) A S S E T S Gold certificate account 14,665 736 3,860 735 1,207 960 732 2,643 601 268 6l6 538 1,769 Redemption fund for F. R. notes 1,206 69 286 71 103 94 74 218 50 27 48 39 127 Total gold certificate reserves '15,871" 865 4,i46 806 1,310 1,054 806 2,86l 651 295 577 1,396 F. R. notes of other Banks 429 36 107 45 21 22 50 25 14 29 15 18 47 Other cash 380 25 76 19 32 19 31 65 19 11 12 12 59 Discounts and advances 194 7 19 2 4 17 11 46 2 3 35 9 39 Acceptances: Bought outright 42 -- 42 — -- -- -- -- -- — — - - Held under repurchase agreement 1 -- l -- — -- — -- -- -- -- -- U. S. Government securities: Bought outright— B ills 3,007 156 746 172 252 195 l6l 505 119 65 131 122 383 Certificates 5,745 299 1,424 328 483 374 308 964 227 124 250 232 732 Notes 17,341 901 4,298 990 1,457 1,127 931 2,911 686 374 755 701 2,210 r* -1 Bonds 3,866 i 958 220 325 251 208 649 153 83 168 157 493 Total 29,959 1,557 7,426 1,710 2,517 1,947 I,6oEF 5,029' 1,185 646"" i,3o4~ 1,212 3,818 Held under repurchase agreement -- -- -- -- -- -- -- -- __ Total U. S* Government securities 29,959 _i,557 7,426 1,710 2,517 1,947 1,608 5,029 1,3.85 646 1,212 3,818 Total loans and securities 30,196 1,564 7,488 1,712 2,521 1,964 1,619 5,075 1,187 649 1,339 1,221 3,857 Cash items in process of collection 5,871 429 1,138 365 489 4c4 439 915 248 175 33^ 253 682 Bank premises 106 3 9 3 8 5 i4 24 6 4 6 13 11 Other assets 7 68 38 198 44 68 42 42 116 28 17 33 37 105 TOTAL ASSETS 53,621 2,900 13,162 2,994 4,449 3,510 3,001 9,c8l 2,153 1,180 2,403 2,131 6,657 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 AUGUST 1, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions5 of dol]Lars) L I A B I L I T I E S Federal Reserve notes 29,199 1,740 6,744 1,831 2,572 2,367 1,683 5,326 1,241 575 1,205 867 3,048 Deposits: Member bank reserves 17,189 661 4,779 741 1,289 716 860 2,686 619 396 852 930 2,660 U.S. Treasurer-general, account 333 26 4 13 21 22 1 39 30 23 38 29 87 Foreign 256 12 1/78 14 23 11 13 34 8 6 10 14 33 Other 344 1 286 l 1 3 1 2 * * 2 * 47 Total deposits 18,122 700 5,147 769 1,334 752 875 2,761 657 425 902 973 2,827 Deferred availability cash items 4,787 388 864 309 403 318 362 777 202 146 232 206 580 Other liabilities and accrued dividends 66 4 16 3 6 4 4 11 3 1 ____ ____ 3 - 8 TOTAL LIABILITIES 52,174 27832 12,771 2,912 4,315 3,441 2,924 8,875 2,103 1,147 2,342 2,o49 6,463 CAPITAL ACCOUNTS Capital paid in 459 22 124 26 43 21 25 65 16 11 19 26 61 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 100 4 24 5 8 8 5 17 3 2 5 6 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,621 2, 900 13,162 2,994 4,449 3,510 3,001 9,081 - 2,153 1,180 2,403 2.131 6,657. Contingent liability on accept­ ances purchased for foreign correspondents 80 4 2/22 5 7 4 4 11 3 2 3 k 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,504 1,8o4 7,046 1,889 2,734 2,460 1,749 5,462 1,303 —m r i ,24o 942 3,209 Collateral for F. R. notes: Gold certificate account 7,820 480 1,600 530 720 680 ^85 1,4co 34o 160 310 215 900 Eligible paper 37 — 1 — -- — 2 — 34 -- - - U. S. Government securities 23,840 l, 390 5,600 1, 500 2,100 1,805 1, hCO 4,300 1,010 530 950 755 2, 500 Total collateral 31,697 1,870 7,200 2,031 2,820 2,485 1,885 5,700 1,352 690 1,294 970 3,400 1/ After deducting 4178 million participations of other Federal Reserve Banks. 2/ After deducting $ 58 million participations of other Federal Reserve Banks. * Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis