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 September 6 > 1962 The average of daily figures of total member bank reserves held during the week ended September 5 decreased a net of $68 million to $19,848 million. Estimated currency and coin of member banks decreased $167 million and their reserves balances at the Federal Reserve Banks increased $99 million. Estimated required reserves increased $28 million; and estimated excess reserves decreased $96 million to $439 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $345 million, compared with the revised figure of $462 million the week before. The principal changes supplying coverage reserve balances with Federal Reserve Banks were increases of $245 million in U. S. Government securities bought outright and $l48 million held under repurchase agreement, and a decrease of $43 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $153 million in Federal Reserve float, and increases of $96 million in currency in circulation and $46 million in other F. R. accounts (net). Total Reserve Bank credit increased $252 million. As of Wednesday, September 5, 1962, holdings of U. S. Government securities bought outright were $184 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $233 million higher, and member bank borrowings were $1 million higher. Outright holdings of bills, certificates, notes, and bonds increased $95 million, $20 million, $39 million, and $30 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday; Reserve Bank credit, Sept. 5, Aug. 29, Sept. 6, Sept. 5, and related items 1962 1962 1961 1962 0[n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 30,264 +245 +2,424 30,327 Held under repurchase agreement l48 +148 + 148 233 Acceptances--bought outright 35 “ - — — 34 Discounts and advances— Member bank borrowings 94 + 21 + 37 108 11 - 8 + 11 11 Other 1,136 Float 1,134 -153 + 135 Total Reserve Bank credit 31,685 +252 +2,75^ 31,849 Gold stock 16,098 - l4 -1,353 16,098 Treasury currency outstanding 5,556 - 45 + 3 5,550 53,339 +193 +1,404 53,497 Currency in circulation 33,966 + 96 +1,302 34,128 Treasury cash holdings 415 + 11 + 9 420 Treasury deposits with F. R. Banks 459 - 43 10 454 Foreign deposits with F. R. Banks 175 - 17 - 95 177 Other deposits with F. R. Banks 315 + 1 + 12 310 Other F. R. accounts (net) 866 + 46 - 245 851 36,196 + 94 + 973 36,340 Member bank reserves: With Federal Reserve Banks 17,143 + 99 + 431 17,157 Currency and coin (estimated) 2,705 -167 + 303 2,877 Total reserves held 19,"848 - 68 + 73ft 20,034 Required reserves (estimated) 19,409 + 28 + 836 19,458 Excess reserves (estimated) 439 - 96 - 102 576 On September 5, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,452 million, an increa.se of $2 million for the week and an increase of $586 million from the comparable date a year ago. Digitized for FRASER http://fraser.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 Sept. 5/ Aug. 29, Sept. 6, 1962 1962 1961 A S S E T S Gold certificate account 14, 609 - 2 -1,533 Redemption fund for F. R. notes 1, 208 + 2 + 164 Total gold certificate reserves 15,817 -1,369 -ft Cash (394) 367 - 27 - 19 Discounts and advances 119 + 1 + 51 Acceptances--bought outright 34 - “* - — U. S. Government securities: Bought outright-- Bills 3,065 + 95 + 254 Certificates 9,538 + 20 +7,855 Notes 13,772 + 39 -6,100 Bends 3,952 + 30 + 4l6 Total bought outright 30,327' +184 +2,425 Held under repurchase agreement 233 +233 + 233 Total U. S. Government securities 30,560 +4i7 +2,658 Total loans and securities 30,713 +4l8 +2, 709 Cash items in process of collection (925) 4,451 + 36 + 438 Bank premises 107 -- 3 Other assets 576 - 13, + 371 TOTAL ASSETS (1,319) 52,031 +^4-14 +2,. 127 l i a b i l i t i e s Federal Reserve notes (394) 29,084 +263 +1,271 Deposits: Member bank reserves 17,157 +256 + 577 U. S. Treasurer— general account 454 - 36 - 103 Foreign 177 + 8 - 97 Other 310 - 3 14 Total deposits 18,098 +225 + 363 Deferred availability cash items (925) 3,315 - 95 + 382 Other liabilities and accrued dividends 71 + 3 + 6 TOTAL LIABILITIES (1,319) 50,568 +396 +2, 022 C A P I T A L A C C O U N T S Capital paid in 46o -- + 30 Surplus 888 -- + 71 Other capital accounts 115 + 18 + 4 TOTAL LIABILITIES AND CAPITAL ACC0UNTS(1, 319) 52,031 +4i4 +2,127 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- -.31o - 4.2 Contingent liability on acceptances purchased for foreign correspondents TO - 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, SEPTEMBER 5, 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 105 9 805 +402 16 days to 90 days 14 25 4,763 - 81 91 days to 1 year 12, 556 + 39 - - Over 1 year to 5 years - - -- 9,987 + 47 Over 5 years to 10 years -- 2,233 + 8 Over 10 years 216 + 2 - - — Digitized for FRTAoStEaRl US 30,560 +4if http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(1o) STATEVIENf OF CONDITION' OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In m illions of dol]Lars) A S S E T S Gold certificate account l4,609 773 3,288 742 1,238 1,025 822 2,619 603 260 631 610 1,998 1,208 69 283 72 103 101 73 216 51 28 48 38 126 Redemption fund for F. R. notes Total gold certificate reserves 15,817 — 542“ 3,571 ---535" 1,341 1,126 895“ 2,835 654 255 679“ 648 2,124 F» R. notes of other Banks 394 37 89 48 14 23 49 23 9 32 17 18 35 Other cash 367 26 63 21 31 24 30 63 20 11 11 l4 53 discounts and advances 119 10 35 2 4 15 5 30 1 1 5 9 2 Acceptances: Bought outright 34 — 34 — — — — — — — — — -- U. S. Government securities: Bought outright— B ills 3,065 160 760 175 258 199 164 515 121 66 133 !1T 397 Certificates 9,538 495 2,364 544 801 620 512 1,601 378 206 415 364 1,238 Notes 13,772 716 3,413 786 1,157 895 739 2,312 545 297 600 526 1,786 Bonds 3,952 205 980 226 332 257 212 663 156 85 172 151 513 Total 30,327 1,570 7,517 1,731 2,548 1,971 1,027 5,091 1,200 654 1,320 1,158 3,934 Held under repurchase agreement 233 233 -- — -- -- — -- — r- — * Total U. S. Government securities 30,560 1,576 7,750 1,731 2,548 1,971 1,627 5,091 1,200 654 1,320 1,158 3,934 Total loans and securities 30,713 1,586 7,819 1,733 2,552 1,986 1,632 5,121 1,201 655 1,325 1,167 3,936 Cash items in process of coll ection 5,378 383 1,062 319 4l8 422 419 8o4 243 162 271 246 627 Bank premises 107 3 9 3 8 5 14 24 6 4 7 13 11 Other assets 576 30 149 33 52 30 32 86 21 l4 25 28 76 TOTAL ASSETS 53,350 2,907 12,762 2,971 4,4l6 3,616 3,071 8,956 2,154 1,166 2,335 2,134 6,862 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 5, 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 dollars) L I A B I L I T I E S Federal Reserve notes 29,478 1,739 6,8l4 1,823 2,591 2, 4l6 1,703 5, 380 1,242 570 1,210 877 3,113 Deposits: Member hank reserves 17,157 704 399 755 1,309 770 917 2,622 631 405 809 928 2,908 U.S. Treasurer-general account 454 4o w 59 30 36 4o 16 65 27 25 37 21 58 Foreign 177 8 1/56 10 16 7 9 23 6 4 7 9 22 Other 310 1 241 1 1 6 1 1 * 1 2 1 54 Total deposits 18,098 753 4,755 7W~ 1,362 823 943 2,711 w r £35“ 855 959 3,042 Deferred availability cash items 4,240 3^3 779 265 322 303 342 645 194 125 206 213 503 Other liabilities and accrued dividends 71 3 20 4 5 4 4 11 3 2 3 3 9 TOTAL LIABILITIES 51,887 2,838 12,368 2,888 4,280 3,5^6 2,992 8,747 2,103 1,132 2,274 2,052 6,667 CAPITAL ACCOUNTS Capital paid in 460 22 124 26 ^3 21 25 65 16 11 19 26 62 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 115 5 27 6 10 9 7 20 4 3 5 6 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,350 2,907 12,762 2,971 4,4l6 3,616 3,071 8,956 2,154 1,1.66 2,335 2,134 6,862 Contingent liability on accept­ ances purchased for foreign c orre spondent s 70 3 2/19 4 7 3 4 10 2 2 3 4 9 FEDERAL RESERVE AGENTS' ACCOUNTS F.K. notes outstanding 30,598 1,789 7,044 l, 874 2, 744 2, 500 1,768 5,508 1,293 ..6S2"' 1,240 934 3,242 Collateral for F. R. notes: Gold certificate account 7,745 480 1,600 465 720 700 485 1,400 34o 130 310 215 9 00 Eligible paper 7 -- — 2 -- -- -- * _ - 5 - U. So Government securities 23,885 1,390 5,600 l, 500 2,100 1,820 1, 400 4,300 1,010 560 950 755 2,500 Total collateral 31,637 1,870 7,200 1,967 2,820 2,520 1,885 5,700 1,350 690 1,265 970 3,4oo l/ After deducting $121 million participations of other Federal Reserve Banks. df After deducting $ 51 million participations of other Federal Reserve Banks * Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis