F E D E R A L R E S E R V EFactors Affecting Bank Reserves andCondition Statement of F.R. Banks For immediate release

April 26, 1962

The average of daily figures of total member bank reserves held, during the week ended April 25 increased $167 million to $19;852 million. Estimated currency and coin of member banks increased $54 million and their reserve balances at the Federal Reserve Banks increased $113 million. Estimated required reserves increased $l4l million; and estimated excess reserves increased $26 million to $523 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $438 million compared with the revised figure of $422 million the week before.

T h e p r i n c i p a l ch a n g e s s u p p ly in g a v e ra g e reserfle b a la n c e s w i t h F e d e r a l R e s e rv e Banks w e re in c r e a s e s o f $78 m i l l i o n i n U. S . G o ve rn m e n t s e c u r i t i e s h e ld u n d e r re p u rc h a s e a g re e m e n t a n d $ 88 m i l l i o n i n F e d e r a l R e s e rv e f l o a t ; a n d a d e c re a s e o f $112 m i l l i o n i n c u r r e n c y i n c i r c u l a t i o n . Th e p r i n c i p a l o f f s e t t i n g ch a n g e s w ere d e c re a s e s o f $75 m i l l i o n i n U. S . G o ve rn m e n t s e c u r i t i e s b o u g h t o u t r i g h t a n d $62 m i l l i o n i n g o ld s t o c k ; a n d a n in c r e a s e o f $38 m i l l i o n i n T r e a s u r y d e p o s it s w i t h F e d ­e r a l R e s e rv e B a n k s . T o t a l R e s e rv e Bank c r e d i t in c r e a s e d $100 m i l l i o n .

As of Wednesday, April 25, holdings of U. S. Government securities bought outright were $16 million lower than a week earlier, U . S . Government securities held under repurchase agreement were $94 million higher, and member bank borrowings were $34 million higher.

H.4.1

Averages of daily figuresMember bank reserves, Week ended Change from week ended Wednesday,Reserve Bank credit, and related items

Apr:. .25, 1962

Apr. 18, 1962

Apr. 26, 1961

Apr. 25,' 1962

Reserve Bank credit:U. S. Government securities--

(In millions of dollars)

28,868Bought outright--System account 28,882 - 75 +2,493Held under repurchase agreement

Acceptances--151 + 78 + 151 94

Bought outright Q O3^ - 2 6 37Held under repurchase agreement

Discounts and advances--1 + 1 + 1 ■*' *"

Member bank borrowings 85 + 10 + 48 285Other 65 -- + 60 65

Float 1,500 + 88 + 221 1,169Total Reserve Bank credit 30,722 +100 +2,967 30,518

Gold stock 16,523 - 62 - 867 16,495Treasury currency outstanding 5,586 + 2 + 169 5,5875̂ BJ2 +~4I +2,270 52,606

Currency in circulation 33,244 -112 +1,437 33,135Treasury cash holdings 428 + 3 + 14 431Treasury deposits with F. R. Banks 518 + 38 + 144 551Foreign deposits with F. R. Banks 209 + 5 + 15 220Other deposits with F. R. Banks 354 - 10 + 56 315Other F. R. accounts (net) 963 + 3 -- 955

Member bank reserves:357715 - 73 +1,666 35,607

With Federal Reserve Banks 17,115 +113 + 6o4 16,993Currency and coin (estimated) 2,737 + 54 + 230 3,020Total reserves held 19,852 +167 + 834 20,013

Required reserves (estimated) 19,329 +l4l +1,042 19,313Excess reserves (estimated) 523 + 26 - 208 700

On April 25, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,643 million, a decrease of $43 million for the week and a decrease of $534 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 m illions of d o lla rs )Change since

Apr. 25, Apr. 18, Apr. 26,- 1962__ 1962 ..1961__

A S S E T SGold certificate account 15,067 - 40 - 992Redemption fund for F. R. notes 1,155 - 4 + 125Total gold certificate reserves l6,222 - 44 7 887

Cash (455) 378 + 23 - 69Discounts and advances 350 + 34 + 312Acceptances--Bought outright 37 - l 6U. S. Government securities:

Bought outright—Bills 2,872 - 16 + 898Certificates 4,972 — - 29Note 8 16,933 — + 515Bonds 4,091 «... +1,256Total "bought outright 2^858 - 16 +2, 640

Held under repurchase agreement 94 + 94 + 94Total U. S. Government securities 28,962 + 78 +2,735Total leans and securities 29, 349 +111 +3,040

Cash items in process of collection (1,113) 5,082 -522 + 544Bank premises 108 -- --Other assets 430 + 19 + l4i

TOTAL ASSETS (l, 568) 51,569 ■3+13 +2,789

L I A B I L I T I E SFederal Reserve notes (455) 28,084 -184 +1,176Deposits:

Member bank reserves 16,993 + 65 +1,093U. S. Treasurer— general account 551 + 43 + 50Foreign 220 + 14 12Other 315 - 42 + 7

Total deposits 18,079 + 80 +1,138Deferred availability cash items (1,113) 3,913 -322 + 343Other liabilities and accrued dividends 73 - 3 + 36

TOTAL LIABILITIES (1,568) 507159 5529 +2,693C A P I T A L A C C O U N T S

C a p i t a l p a id i n 454 + l + 31S u r p lu s 888 -- + 71O th e r c a p i t a l a c c o u n ts 78 + 15 6

TOTAL LIABILITIES AND CAPITAL ACCOUNTS(l, 568) 51,569 -4i3 +2,789

Ratio of gold certificate reserves to depositand F. R. note liabilities combined (com­puted from figures as shewn on the fol­lowing pages--not consolidated) 34 .8$ -.1$ - 3*8$

Contingent liability on acceptances purchasedfor foreign correspondents 102 -- 51* Figures in parentheses are the eliminations made in the consolidating process; ___see comparable figures on combined basis on the following pages.____________

MATURITY DISTRIBUriOH OF LOAMS AMD SECURITIES, APRIL 25, 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. G o ve rn m e n t s e c u r i t i e s

Discounts and advances Acceptances Holdings

Changes during week

Within 15 days 309^ 11 666 +I5o16 days to 90 days 26r/ 26 3,558 - 3591 days to 1 year 15i/ - - 11,752 - 27Over 1 year to 5 years - - - - 10, 473 --Over 5 years to 10 years — 2,247 --Over 10 years - - - - 266 --

Total 350 37 28,962 +“78i f F ig u r e s f o r th e s e g ro u p s a s o f A p r i l 3.8 c o r r e c t e d to 273, 28, end 3.5 millions,

r e s p e c t i v e l y .Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 25, 1962

Total Boston NewYork

Phila­delphia

Cleve­land

Rich­mond Atlanta Chicago St.

LouisMinne­apolis

KansasCity Dallas

SanFran­cisco

A S S E T SGold certificate account 15,067 683 3,985 8l6

(in millions of dollars)1,222 1,035 746 2,538 554 333 628 560 1,967

Redemption fund for F. R. notes 1,155 72 275 71 101 86 67 206 50 27 49 37 ll4Total gold certificate reserves 16,222 755 4,260 887 1,323 1,121 813 2,744 ' 6o4 380 677 597 2,081

F. R. notes of other Banks 455 22 132 26 27 20 70 33 14 19 15 27 50Other cash 378 24 75 16 30 21 33 65 21 8 12 15 58Discounts and advances 350 5 80 20 36 15 17 34 16 1 59 11 56Acceptances:Bought outright 37 -- 37 - - — -- — M - . - . «. _ « —

U. S. Government securities: Bought outright-~

Bills 2,872 153 710 166 2b3 182 158 491 116 62 125 117 349Certificates 4,972 265 1,230 287 k22 315 273 850 200 106 217 202 605Notes 16,933 901 4,188 978 1,436 1,072 931 2,893 683 363 738 688 2,062Bonds -Jb 9.9.1: 2.1.8 1,011 237 347 258 225 699 165 88 178 166 499Total 28,868 1,537 7,139 1,668 2,448 1,827 1,587 4,933 1,164 619 1,258 1,173 3,515Held under repurchase agreement 94 -- 94 -- _ _ -- -- --

Total U. S. Government securities 28,962 1,537 7,233 1,663 2,448 1,827 1,587 4,933 1,164 619 1,258 1,173 3,515Total loans and securities 29,349 1,542 7,350 1,688 2,484 1,842 i,6o4 4,967 1,180 620 1,317 1,184 3,571Cash items in process ofcollection 6,195 433 l,l4l 415 512 435 496 1,022 249 170 324 291 707Bank premises 108 3 9 3 8 5 14 24 7 5 6 13 11Other assets 430 23 108 2b 38 26 24 71 16 10 19 18 53

TOTAL ASSETS 53,137 2,802 13,075 3,059 4,422 3,470 3,054 8,926 2,091 1,192 2,370 2,145 6,531

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 APRIL 2$, 1962

T otal Boston SJewYork

P h ila ­delphia

Cleve­land

Rich­mond A tlanta Chicago S t.

LouisMinne­ap o lis

KansasC ity Dallas

SanFran­cisco

L I A B I L I T I E SFed eral Reserve notes D eposits:

Member hank reserv esU .S. T reasu rer-gen eral accountForeignOther

28,539

16,993551220315

1,690

6182010

1

6,620

4,733l4ol/6l257

1,830

77b3213

*

(In

2, 544

1,241 24 21

1

m illions of doll

2, 304 1,623

713 881 28 22 10 12 3 1

Lars)

5,2072,611

57 30

2

1, 225582

2171

586

403195*

1,1778243892

822

9385112

1

2,911

2,675993046

T otal dep osits

Deferred a v a i la b i l i ty cash items Other l i a b i l i t i e s and accrued

dividends

18,079 5,026

73

6493924

5,191859

21

819325

b

1,2874537

7543424

916

4364

2,700

805 12

611

2032

b27

1451

873257

3

1,002

237

3

2,850

5728

TOTAL LIABILITIES

CAPITAL ACCOUNTS

C ap ital paid in SurplusOther c a p ita l accounts

TOTAL LIABILITIES AND CAPITAL ACCOUNTS

51,717

45488878

2,735

21424

12,691

123243

18

2,978

26514

4,291

4283

6

" 3,4o4"

21405

2,979

2447

8,725”

6412414

2 , o55~

1631

3

1,159

1120

2

2,310

19374

2,06k

26505

6,341

611209

53,137 2,802 13,075 3,059 4,422 3,470 3,054 8,926 2,091 1,192 2,370 2,145 6,531

Contingent l i a b i l i t y on a ccep t­ances purchased fo r foreign co rre spondents 102 5 2/28 6 10 _5 5 l4 ______ i _ 2 4 6 l4

FEDERAL RESERVE AGENTS' ACCOUNTS

F . R. notes outstanding C o lla te ra l fo r F . R. n o tes :

29,891 1, 742 6,968 1,89^ 2,707 2,393 1,704 5,348 1, 285 670 1,217 886 3,077

Gold c e r t i f i c a t e account 7,955 450 1,600 530 770 755 425 1,400 340 160 310 215 1,000E lig ib le paper 88 - - - - 17 — — - - l4 — 57 — “U. S . Government s e c u ritie s 23,225 1,365 5,600 1,500 2,050 1,665 1,400 4,100 1,010 530 950 7 5 5 - 2,300

T otal c o l la te r a l 31,268 1,815 7,200 2 , 0b7 2,820 2, 420 1,825 5,500 1,364 690 1,317 970 3,300

_______ _ _ as of other Federal Reserve Banks.2/ After deducting $ 7b million participations of other Federal Reserve Banks.

* Less than $500/000-Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis