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*’” August 16, 1962 The average of daily figures of total member bank reserves held during the week ended August 15 decreased a net of $18 million to $19,800 million. Estimated currency and coin of member banks increased $158 million and their reserve balances at the Federal Reserve Banks decreased $178 million. Estimated required reserves decreased $91 million; and estimated excess reserves increased $73 million to $566 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $436 million, compared with the revised figure of $337 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $34 million in U. S. Government securities bought outright and $26 million in member bank borrowings, and increases of $121 million in currency in circulation, $110 million in Treasury deposits with Federal Reserve Banks, and $44 million in "other" deposits with Federal Reserve Banks. The principal offsetting change was an increase of $129 million in Federal Reserve float. Total Reserve Bank credit increased $83 million. As of Wednesday, August 15, holdings of U.S. Government securities bought outright were $30 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $121 million higher, and member bank borrowings were $318 million lower. Outright holdings of bills and notes decreased $30 million and $3,717 million, respectively; certificates increased $3>717 million. Changes in holdings of certificates and notes reflected the exchange of $3,717 million notes maturing August 15 for a like amount of 3-l/2 per cent certificates maturing August 15, 1983* ____ Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Aug. 15, Aug. 8, Aug. 16, Aug. 15, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 30,160 - 34 +2,885 30,143 Held under repurchase agreement 17 + 17 - 179 121 Acceptances-- Bought outright 4l - 3 + 7 39 * Held under repurchase agreement ** *• Discounts and advances-- "" Member bank borrowings 130 - 26 + 68 314 Other 15 -- + 15 15 Float 1,279 +129 + 170 1,388 Total Reserve Bank credit 31,642 + 83 +2,966 32,020 Gold stock 16,148 -- -1,453 16,148 Treasury currency outstanding 5,596 - 7 + 51 5,596 53,386 + 76 +1,564 53,764 Currency in circulation 34,059 +121 +1,395 34,042 Treasury cash holdings 402 - 15 20 4o4 Treasury deposits with F. R. Banks 598 +110 + 100 597 Foreign deposits with F. R. Banks 198 - 19 - 59 178 Other deposits with F. R. Banks 375 + 44 + 100 336 Other F. R. accounts (net) 703 + 11 - 336 834 36,336 T252 +1,lBl 36,391 Member bank reserves: With Federal Reserve Banks 17,050 -176 + 383 17,373 Currency and coin (estimated) 2,750 +158 + 220 3,064 Total reserves held 19,800 - 18 + 603 20,437 Required reserves (estimated) 19,234 - 91 + 64l 19,286 Excess reserves (estimated) 566 + 73 - 38 1,151 * Less than $500,000. On August 15, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,298 million, an increase of Digitized f$or4 F6R AmSiElRl ion for the week and an increase of $128 million from the comparable http://fraser.stlouisfed.org/ date a year ago. 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 Aug. 15, Aug. 8, Aug. 16, 1962 1962 1961 A S S E T S Gold certificate account Ik, 672 1 -1,619 Redemption fund for F. R. notes 1,199 2 * 159 Total gold certificate reserves 15,671 3 -1, A60 * Cash (390) 382 5 Ik Discounts and advances 329 - 318 + 213 Acceptances— bought outright 39 3 + 7 U. S. Government securities: Bought outright— Bills 3,1^7 - 30 + 952 Certificates 9, 1+88 +3,717 +7,778 Notes 13,639 -3,717 -6,207 Bonds 3,869 -- + 3^1 Total bought outright 30,l*+3 - 30 +2,6bk Held under repurchase agreement 121 + 121 11 Total U. S. Government securities 30,26k + 91 +2,853 Total loans and securities 30,632 - 230 +3,073 Cash items in process of collection (1,178) 5,861 +1,365 + k60 Bank premises 106 5 Other assets 5kl - 187 + 383 TOTAL ASSETS (1,568) 53,393 + 9k> +2, i+37 L I A B I L I T I E S Federal Reserve notes (390) 28,955 7 +1,307 Deposits: Member bank reserves 17,373 + 106 + 579 U. S. Treasurer--general account 597 + 5 + 73 Foreign 178 - 19 - 51 Other 336 k + 1+7 Total deposits 18,kdk + 88" + bk& Deferred availability cash items (1,178) *+,1+73 + 911 + 382 Other liabilities and accrued dividends 70 + 1 + 7 TOTAL LIABILITIES (1,568) 51,982 + 993 +2, $kk C A P I T A L A C C O U N T S Capital paid in k60 + 31 Surplus 888 + 71 Other capital accounts 63 - 53 9 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,568) 53,393 + 9ko +2, 1+37 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined(com­ puted from figures as shown on the fol­ lowing pages--not consolidated) 33*2$ - «1$> - k.b’jo Contingent liability on acceptances purchased for foreign correspondents 78 - 2 - 65 * 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, AUGUST 15, 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 327 9 501 -3,656 16 days to 90 days 2 30 1, 679 + 58 91 days to 1 year 15,8l8 +k, 023 Over 1 year to 5 years -- 9,833 - 33^ Over 5 years to 10 years 2, 219 DigitizedO fvore FrR A1S0E Ry ears -- — 21*+ -http://fraser.stloTuoistfeadl.o rg/ 329 39 30,2bk + 91 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 15, 1962 San Total Boston New 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 G Re o d ld e m c p e ti r o t n if i f c u a n t d e fo ac r co F u . n R t . notes l 1 4 , ,6 19 72 9 69 6 7 9 3, 2 5 8 U 4 73 7 9 2 1,1 1 9 0 9 2 1,07 9 5 2 80 7 2 4 2,5 2 2 16 1 63 5 8 1 31 2 5 7 6 b 8 & 2 56 38 0 1,9 1 3 2 3 6 Total gold certificate reserves 15,671 755“ 3,795 811 1,301 1,167 2,737 689 342“ 730 596 2,059 F. R. notes of other Banks 390 38 93 46 l4 20 44 21 9 26 16 17 4 «—o 6 Other cash 382 25 77 21 32 21 31 64 19 ll 11 12 58 Discounts and advances 329 54 6l 8 l l 13 21 122 2 2 19 8 8 Acceptances: Bought outright 39 -- 39 — — “ U. S. Government securities: Bought outright— B ills 3,147 163 780 180 265 204 169 528 125 68 137 127 4oi Certificates 9,488 493 2,352 541 797 617 509 1,593 375 205 413 384 1,209 Notes 13,639 709 3,380 778 l,l46 886 732 2,290 54o 294 593 552 1,739 Bonds 3,869 201 959 221 325 252 208 649 153 83 169 156 493 Total 30,143 1,566 7,471 1,720 2,533 1,959 1,618" 5,06c ~ 1,193 650~ 1,312 1,219 3,842 Held under repurchase agreement 121 «... 121 -- — -- ~ — mi —> Total U. S. Government securities 30,264 1,566 7,592 1,720 2,533 1,959 1,618 5,060 1,193 650 1,312 1,219 3,842 Total loans and securities 30,632 1,620 7,692 1,728 2,544 1,972 1,639 5,182 1,195 652 1,331 1,227 3,850 Cash items in process of collection 7,039 474 1,438 431 585 531 518 1,113 313 212 350 288 786 B O a t n h k e r p a re s m se is t e s s 1 5 0 4 6 1 28 3 l4l 9 31 3 4 8 9 28 5 l 2 4 9 8 24 0 19 6 13 4 24 6 1 28 3 l 7 l 1 TOTAL ASSETS 54,961 2,954 13,245 3,071 4,533 3,744 3,151 9,221 2,250 1,260 2,468 2,183 6,881 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 15, 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 29,3^5 1,742 6,77^ 1,826 2, 589 2, 376 1,698 5, 367 1,246 574 1,208 876 3,069 Deposits: Member bank reserves 17,373 702 4,549 759 1,260 765 898 2,652 649 445 884 964 2,846 U.S. Treasurer-general account 597 34 112 28 26 110 47 47 61 28 4l 8 55 Foreign 178 8 i/ 60 9 15 7 9 23 5 4 7 9 22 Other 336 * 282 * 1 3 1 2 2 * 2 1 42 Total deposits ~ w 5,003 79^ 1, 302 885 955 2,724 717 477 934 982 2,965 Deferred availability cash items 5,651 398 1,069 365 505 412 4i8 919 236 174 264 242 649 Other liabilities and accrued dividends 70 4 18 4 6 4 4 11 2 2 ____1_ 3 9 TOTAL LIABILITIES 53,550 2,888 12,864 2,991 4, 402 3,677 3,075 9,021 2, 201 1,227 2,409 2,103 6,692 CAPITAL ACCOUNTS Capital paid in 460 22 124 26 43 21 25 65 16 n 19 26 62 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 63 2 14 3 5 6 4 11 2 2 3 4 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,961 2,954 13,245 3,071 4,533 3,744 3,151 9,221 2*250 _ 1,260 2,468 2,183 6.881 Contingent liability on accept­ ances purchased for foreign c orre spondent s 78 4 2/21 5 7 3 4 11 3 2 3 k 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,585 1,802 7,037 1,881 2,746 2, 471 l, 769 5,499 1,305 66l 1,238 940 3,236 Collateral for F. R. notes: Gold certificate account 7,790 48o 1,600 500 720 680 485 1,4oo 340 160 310 215 900 Eligible paper 27 - - -- 7 -- — -- 2 — 18 -- -- U. S. Government securities 23.840 1,390 5,600 1, 5 CO 2, ICO 1—1 00 O LTn i,4oo 4,300 1,010 530 950 ....--Z55- 2.5C0 — ,w77, — Total collateral 31,657 1,870 7,200 2,007 2, 820 2,485 1,885 5,700 1,352 690 1,278 970 3, 400 l T / i A A f .DJ t _ e _ r _ d JS e _ d 1 uc _ .t1 i • ng $ /!> 1 1 1 1 8 U mi . ll -v ion p .. a . rticipations of other Federal Reserve Banks. * Less than $500,000 2/ After deducting $ 57 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis