F E D E R A L R E S E R V EFactors Affecting Bank Reserves and Condition Statement of F.R. Banks

For immediate release June 7, 1962

The average of d aily figu res of to ta l member bank reserves held during the week ended June 6 decreased a net of $43 m illion to $19,763 m illio n . Estimated currency and coin of member banks decreased $191 m illion and th e ir reserve balances a t the Fed eral Reserve Banks increased $l48 m illio n . Estim ated required reserves increased $69 m illion ; and estim ated excess reserves decreased $112 m illion to $491 m illion . Excess reserves exceeded member bank borrowings a t the Fed eral Reserve Banks by $436 m illion , compared with the revised figu re of $517 m illion the week b efore .

H 4.1

The p rin cip a l changes supplying average reserve balances with Federal Reserve Banks were an increase of $277 m illion in U. S. Government se c u ritie s bought outrigh t and decreases, of $50 m illion in Treasury deposits with Fed eral Reserve Banks and $53 m illion in "other" F . R. accounts (n e t) . The p rin cip a l O ffsettin g changes were a decrease of $31 m illion in member bank borrowings and an increase of $200 m illion in currency in c irc u la tio n . T otal Reserve Bank c re d it increased$263 million.

As of Wednesday, June 6, holdings of U. S. Government securities bought outright were $379 million higher than a week earlier and member bank borrowings were $62 million lower. Outright holdings of bills, certificates, notes, and bonds increased $198 million, $54 million, $8l million, and $46 million, respectively.

Averages of daily figures/ ' 1M s~\ A3 f l l t n w //> > " P v i / m w / vMember bank reserves, Week ended Change from week ended Wednesday,

Reserve Bank credit, and related items

June 6, 1962

May 30, 1962

June 7, 1961

June 6, 1962

Reserve Bank credit:U. S Government securities-- Bought outright--System account

(In millions of dollars)

29,837 +277 +2,796 29,949Held under repurchase agreement 20

Acceptances bought outright 32 - 1 5 31Discounts and advances Member bank borrowings 55 - 31 7 46Other 62 - 3 + 58 60

Float 1,211 + 20 + 201 1,175Total Reserve Bank credit 31,198 +263 +3,023 31,261

Gold stock 16,434 -- - 976 16,435Treasury currency outstanding 5,597 + 3 + 168 5,60053,229 +555 +2,215 53,296

Currency in circulation 33,531 +200 +1,333 33,615Treasury cash holdings 4l6 - 2 9 412Treasury deposits with F. R. Banks 474 - 50 + 1 450Foreign deposits with F. R. Banks 209 + l + 11 202Other deposits with F. R. Banks 367 + 23 + 128 344Other F. R. accounts (net) 1,077 - 53 + 6 1,074

36,07^ +118 +1,470 36^97Member bank reserves:'

With Federal Reserve Banks 17,155 +l48 + 745 17,198Currency and coin (estimated) 2,608 -191 + 214 2,767Total reserves held 19,763 - 43 + 959 19,965

Required reserves (estimated) 19,272 + 69 +1,039 19,289Excess reserves (estimated) 491 -112 - 80 676

On June 6, 1962, U- S. Government s e c u ritie s held in custody by the Federal Reserve Banks fo r foreign account were $5,731 m illion , a decrease of $3 m illion fo r the week and an in crease of $63 m illion from the comparable: date, a year ago.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H . 1 ( a ) CONSOLIDATED STATEMENT OF CONDITIONOF THE TWELVE FEDS UAL RESERVE BAMS

(In million! of dollars)J3agB-gteSg------

June 6, May 30, June 7,_ .> 1961...

A S S E T SGold certificate account 15, 018 + 1 3 -1,062Redemption fund for F. R. notes 1,155 + 2 + 109Total gold certificate reserves 16,173 + 15 - 953

Cash (330) 335 - 23 - 36Discounts and advances 106 - 67 + 4lAcceptances bought outright 31 -- 6U.' S. Government securities:

Bought outright-*Bills 3,312 +198 + 483Certificates 5,617 + 54 - 900Notes 17,182 + 81 +2,583Bonds 3,838 + 46 + 6o4

Total bought outright 29,W +379 +2,770Held under repurchase agreement -- -- - -

Total U. S. Government securities 29,959 +379 +2,770

Total loans and securities 30,086 +312 +2, 805

Cash items in process of collection (878) 5, 703 +4l6 + 649Bank premises 106 2Other assets 355 + 72 + 122

TOTAL ASSETS (1,208) 51, t w +792 +2, 585

L I A B I L I T I E SFederal Reserve notes (330) 28,500 +121 +1,175Deposits:

Member bank reserves 17,198 +6ll + 839U. S. Treasurer general account 450 -118 + 30Foreign 202 - 12 - 25Other 355 - 82 + 98

Total deposits 187195 +399 + 952Deferred availability cash items (878) 3,528 +256 + 353Other liabilities and accrued dividends 76 + 2 + 27

TOTAL LIABILITIES (1,208) 50,298 +778 +2,486

C A P I T A L A C C O U N T SCapital paid in 455 + 32Surplus 888 -- + 71Other capital accounts 106 + 14 4

TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,208) 51,757 +792 +2, 585Ratio of gold certificate reserves to deposit

and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 3 b.kio -. 2 jo - 3-7#

Contingent liability on acceptances purchased, for foreign correspondents 112 - - U8* 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, JUNE 6, 1962

(Acceptances and securities held under repurchase agreement are classified asmaturing 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 sDiscounts and advances Acceptances Holdings

Changes during week

Within 15 days 45 10 542 +145i6 days to 90 days 6l 21 5,355 - 1791 days to 1 year 11,631 +164Over 1 year to 5 years -- 9,908 + 87Over 5 i'ears to 10 years i*- r ^ 2,247 --Over 10 years -- -- 2 66

Total 106 31 29,959 +379Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON JUNE 6, 1962

T o t a l B o s to n NewY o rk

P h i l a d e lp h ia

C le v e la n d

R i c h mond

A t la n t a C h ic a g o S t .L o u is

M in n e a p o l i s

K ansasC i t y

D a l la sSan

F r a n c is c o

A S S E T S

G o ld c e r t i f i c a t e a c c o u n t 15,018 802 3,767 842

( I n

1,201

m i l l i o n s o f d o l]

964 804

L a rs )

2,559 548 302 674 634 1,921R e d e m p tio n f u n d f o r F . R . n o te s 1,155 71 271 _ 71 3,01 91 66 205 49 ..27 ._ 49 36 118

T o t a l g o ld c e r t i f i c a t e r e s e r v e s 16,173 873 M 3 8 913 1,302 1,055 870 2,764 597 329 723 670 2,039F . R . n o te s o f o t h e r B a n k s 330 14 112 21 20 13 b5 23 9 18 13 13 29O t h e r c a s h 33^ 22 59 17 28 18 31 58 17 9 9 13 53D is c o u n t s a nd a d v a n c e s 106 7 24 4 6 7 9 21 2 2 9 5 10A c c e p ta n c e s :

B o u g h t o u t r i g h t 31 31 .. .. .. ..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 - - B i l l s 3,312 172 820 188 280 219 176 555 132 72 1^5 13^ 419C e r t i f i c a t e s 5,617 291 1,391 319 476 370 298 942 224 122 247 227 710N o te s 17,182 891 4,254 977 1,^55 1,133 912 2,881 686 372 755 694 2,172B o n d s .3,838 199 950 218 ..3.25 .. 253. 204 644 __153 83 169 155 485

T o t a l 29,9^9 1,553 7,^15 1,702 2,536 1,975 1,590 5,022 1,195 649 1,316 1,210 3,786H e ld u n d e r r e p u r c h a s e a g re e m e n t - - -- -- ... -- -- -- -- -- --

T o t a l U . S . G o ve rn m e n t s e c u r i t i e s 29,949 JL,553 7,^15 1,702 2,536 .. Ij-975 1,590 5,022 1,195 649 1,316 1,210 -1 >,.?86_

T o t a l lo a n s a n d s e c u r i t i e s 30,086 1,560 7,470 1,706 2,542 1,982 1,599 5,043 1,197 651 1,325 1,215 3,796C ash ite m s i n p r o c e s s o f

c o l l e c t i o n 5,581 442 1,072 336 449 396 445 909 252 171 269 22 6 6l4B a n k p re m is e s 106 3 9 3 8 5 14 24 6 4 6 13 11O t h e r a s s e t s 3^5 18 88 21 30 19 19 ... 53 13 8 . 15. 16 45

T O T A L A S S E TS 52,955 2,932 12,848 3,017 ^,379 3,488 3,023 8,874 2,091 1,190 2,360 2,166 6,587

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H.4.l(e) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1962

Total Boston NewYorkPhila

delphiaCleveland

Richmond Atlanta Chicago

St.Louis

Minneapolis

KansasCity Dallas

SanFrancisco

(in million*5 of dol]Lars)L I A B I L I T I E SFederal Reserve notes 28,830 1,713 6,676 1,826 2, 544 2, 326 1,642 5,247 1,230 587 1,195 837 3,007Deposits:

17,198 758 4,586 1,276Member hank reserves 780 745 892 2,577 583 507 853 1,014 2,727U.S. Treasurer-general account lt-50 29 58 33 37 26 25 69 25 20 34 32 62Foreign 202 10 i/5j> 12 19 9 11 28 7 5 9 11 27Other 344 * 294 1 1 3 1 1 1 * 1 1 4o

Total deposits 18,194 797 4,992 826 1,333 783 929 2,675 6l5 432 897 1,058 2,856Deferred availability cash items 4,5o6 350 769 278 362 306 371 733 192 136 203 187 519Other liabilities and accrued

dividends 76 5 19 5 7 5 5 12 3 2 4 _____ 3 10TOTAL LIABILITIES 51750T 27855 I 27556' 2,934 5; 255 3,419 2,946 8,667 2,05l 1,157 2,299 2,085 6,392CAPITAL ACCOUNTS

Capital paid in 455 21 124 26 42 21 24 64 16 11 19 26 61Surplus 888 42 243 51 83 4o 47 125 31 20 37 50 120Other capital accounts 106 ___ 5.. ....25 6 8 8 _____ 6.___________19. 7 P _____ 5 .1.5...TOTAL LIABILITIES AND

CAPITAL ACCOUNTS .52*255- 2^232_ 12.848 -SxSlT-.4,322- 3.588 -3*0221-. 8.875 ___- 1*120- 2*360- p;ifi6 -6*387-Contingent liability on acceptances purchased for foreigncorrespondents 112 ____ i _ 2/31 6 10 _____ L_ 6 16 5 _____ 2_ _____ 5- 6 .. 15..

FEDERAL RESERVE AGENTS ACCOUNTSF. R. notes outstanding Collateral for F. R. notes: 29,971 1,753 6,954 1,895

2,694 2,4o4 1,703 5,360 1,280 673 1,227 899 3,129Gold certificate account 7,700 550 1,600 530 720 650 425 1,400 340 160 310 215 900Eligible paper 7 - - 1 - - - - - - - - * - - .6 U. S. Government securities 23.390 1, .365 5,600 1,500 2,100 1,780 1,300 4,100 1,010 530 950 755 2,400Total collateral 31,097 1,815 7,200 2,031 2,820 2,430 1,725 5,500 1,350 690 1,266 970 3,300

1/ After deducting $i58 million participations of other Federal Reserve Banks.2/ After deducting $ 8l million participations of other Federal Reserve Banks. * Less than $500,000.Digitized for FRASER

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