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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks F o r im m e d ia te r e l e a s e H.4.1 " ' M ay 10, 1962 The average of daily figures of total member bank reserves held during the -week ended May 9 increased a net of $12 million to $19,880 million. Estimated currency and coin of member banks, decreased $266 million and their reserve balances at the Federal Reserve Banks increased $278 million. Estimated required reserves decreased $44 million; and estimated excess reserves increased $56 million to $514 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $468 million, compared with the revised figure of $395 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $374 million in U. S. Government securities bought outright and $72 million held under repurchase agreement, and a decrease of $105 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $106 million in Federal Reserve float, and an increase of $135 million in currency in circulation. Total Reserve Bank credit increased $321 million. As of Wednesday, May 9, holdings of U. S. Government securities bought outright were $107 million higher than a week earlier, U . S . Government securities held under repurchase agreement were $8 million lower, and member bank borrowings were $40 million lower. Outright holdings of bills, certificates, notes and bonds increased $36 million, $5 million, $65 million, and $1 million, respectively. Member b a n k r e s e r v e s , R e s e rv e B a n k c r e d i t , a n d r e l a t e d it e m s A v e ra g e s o f d a i l y f ig u r e s C ha n g e f r o m w eek e n d e d W e d nesday, Week e n d e d May 9, 1962 May 9, 1962 May 10, -1961___ _ May 2, 1962 (][n m i l l i o n s o f d o l l a r s ) R e s e rve B a nk c r e d i t : U . S . G o v e rn m e n t s e c u r i t i e s — Bought o u t r ig h t --S y s t e m a cco un t H e l d u n d e r r e p u r c h a s e a g re e m e n t A c c e p ta n c e s — b o u g h t o u t r ig h t D is c o u n ts a n d a d v a n c e s — M ember b a n k b o r r o w i n g s O th e r F lo a t T o t a l R e s e rv e B ank c r e d i t G o ld s t o c k T r e a s u r y c u r r e n c y o u ts ta n d in g C u rre n cy in c ir c u la t io n T re a s u ry cash h o ld in g s T r e a s u r y d e p o s its w it h F . R . Banks F o r e ig n d e p o s its w it h F . R . Banks O th e r d e p o s its w it h F . R . Banks O th e r F . R . a c c o u n ts ( n e t ) 29,467 167 34 46 66 1,245 31,025 16,490 5,594 53,109 - 17 + l -106 +321 - 4 + 4 +321 +2,675 + 158 7 29,389 65 33 18 + 60 + 242 +3,111 - 900 + 172 + 2,383 48 65 979 30,579 16,465 5,594 33,366 422 33,267 +135 - l + 1,299 -105 224 372 + ll + 6 - 2 +“52 + + + 419 502 956 35,739 Member b a n k r e s e r v e s : W it h F e d e r a l R e s e r v e B a n k s C u rre n c y and c o in (e s t im a t e d ) T o t a l re s e rv e s h e ld R e q u ir e d r e s e r v e s ( e s t i m a t e d ) E x ce ss re s e rv e s (e s tim a t e d ) +374 + 72 - 3 17,369 2,5H 19/880 19,366 514 +278 -2 66 + 12 - 44 + 56 52,638 1 106 20 68 388 221 5 +1,486 337 955 35,689 + 895 + 231 + 1,126 + 1,090 + 36 16,948 2,827 19,775 19,307 468 , On May 9, 1962, U. S. Government securities held in custody by the Fed eral Reserve Banks for foreign account were $ 5 ,6 2 2 million, an increase of $77 million for the week and a decrease of $38 million from the comparable date a year ago. C O N S O LID A TE D S TA TEM EN T OF C O N D IT IO N OF T H E TW ELVE FED ER A L RESERVE BANKS H.4.1(a) (in millions of dollars) Change since May 10 May 2, .-126,2____ ___ 13.6.1- May 9, 1962 A S S E T S 15,042 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 16,199 - 15 - 8 - 23 -1,012 + 129 - Q63 361 113 33 - 24 - 4o - 3 - 3,281 + 36 + 5 + 65 + l + 99 + 786 + 65 + 528 +1,109 +2,488 + 50 +2,538 56 +2,423 1,157 7v Cash Discounts and advances Acceptances— bought outright U. S« Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held tinder repurchase agreement Total U. S- Government securities (371) 4,982 17,034 4 ,092 29,389 +107 - 8 65 W ?u f 29,600 Total loans and securities L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES + 501 1 ' (1,285) 51,542 -485 -+ 21 -455 (371) 28,290 +168 +1,147 16,948 388 221 - 12 -279 + 27 - 63 + + + + (914) Cash items in process of collection Bank premises Other assets TOTAL ASSETS . . + 48 109 6 4,809 107 466 _• 337 17,894 -327 (914) 3,830 76 (1,285) 50,090 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL A C C O U N T S 285) 454 888 110 51,51+2 -313 + 1 -471 -— + l6 -455 + 140 +2,132 432 58 l 22 397 + 456 + 33 + 2,033 + + 31 71 3 +2,132 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages--not consolidated) 34 .8$ .1$ Contingent liability on acceptances purchased for foreign correspondents 98 + 1 45 * Figures in parentheses are the eliminations made in the consolidating process, 300 comparable figures on combined basis on uhe following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 9, 1962 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Acceptances 47 51 15 12 21 - - - - - * — 113 - - 33 U. S. Government securities Changes during week Holdings 2, 347 2,'215 11,875 10,504 2,247 266 29,454 -112 +206 - 12 + 17 - - + 99 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 1962 H.4.1(b) Total Boston New York Phila delphia Cleve land Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco (In millions of dol]Lars) A S S E T S 15,042 1,157 745 71 l 6 >l$ 9 816 3,557 273 3,830 F. R. notes of other Banks Other cash 371 361 17 24 Discounts and advances Acceptances: Bought outright U. S- Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 113 6 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 33 -- 3,281 4,982 170 258 17,034 884 4,092 29,389 65 212 1,524 «, _ 823 911 70 1,217 100 979 94 981 1,317 1,073 890 114 73 25 21 15 60 20 5 33 16 -- 29 20 32 14 4 5 21 -- -*“ —— "*- 217 174 550 835 812 186 278 283 422 1,442 347 233 1,670 - - 206 2,830 29 63 1,234 4,217 1,013 7,276 65 968 67 2,624 2,489 -- 1,938 -- 17 9 12 35 54 5 6 6 18 133 415 328 20 9 17 9 3 12.4 2,146 mm mm -- -- -- 905 270 12 630 2,856 686 4,927” 1,123 2,032 27 217 1,561 265 598 36 634 301 50 131 199 680 163 1,173 328 675 49 724 580 71 144 108 219 369 89 748 180 201 689 -- 1,291 -- 165 l,l86” -- w r 630 2,153 517 3,715 — Total U. S. Government securities 29,454 1,524 7,341 1,670 2,489 1,938 1,561 4,927 1,173 637 1,291 1,188 3,715 Total loans and securities 29,600 1,530 7,394 1,675 2,503 1,942 1,566 4,948 1,176 642 1,297 1,194 3,733 423 1,022 365 3 485 529 14 25 884 24 76 249 6 18 172 5 11 288 6 21 234 13 21 663 11 59 3,116 8,854 2,108 1,184 2,357 2,125 6,701 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 5,723 107 466 52,827 9 3 24 116 2,837 12,558 26 40 409 5 29 3,091 4,403 3,493 8 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 1962 H.1(c) Total Boston New York Phila delphia Cleve land Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco 1,185 825 2,958 968 1,018 2,850 57 29 53 2,969 197 570 (In millions of dol]Lars) L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U-S. Treasurer-general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 28,661 1,696 6,65l 1,825 2,555 2,308 1,635 5,228 1,228 588 16,958 388 221 676 21 10 5, 286 74 830 1,251 757 29 891 36 2,6 lk 16 599 399 2k 16 1 /6 6 30 7 337 * 707 283 " ^ 709"— 12 1 837 35 9 2 883” 361 795 225 5, 755 76 51,375 5 2,768” 20 12,165” 23 315 20 20 1 1,292 526 5 6 37568“ “ 5, 269" 10 11 1 3 799 939 1 2,66l “ l 631 5 * 520“ 313 56l 7^5 196 i5i 5 3,^25 5 3,039 2 2,057 1,151 21 25 16 11 5o 7 kl 6 19 3, ^93 3,116 13 87657“ 2 3 2,296“ 37 12 1 3 2,053 10 67567" CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS ST X Contingent liability on accept ances purchased for foreign correspondents 888 110 21 52 6 52,827 2,837 98 5 29,639™ 7,780 k 19 37 5 26 31 20 2 50 6 61 120 13 8,854 2,108 l, 185 2,357 2,125 6,701 5 6 5 9 aza. FEDERAL RESERVE AGENTS’ ACCOUNTS Ik 3 2 k 6 13 3,093 123 2U3 27 51 6 52 83 9 12,558 3,091 5, 503 1,737 6,93^ 550 1,600 -6 2^,^10 1,^65 31,096 1,815 26 -- 5.600 7,200 “ 17678“ 530 1 1.500 2 , 765 2, 392 1, 69b 5,352 l, 278 665 1,219 892 770 680 160 — 1,750 1,500 -5.100 350 -2,050 525 -- 215 -“ 1,825 5,500 310 5 ....9-5P— l, 265 2,820 2,530 2, 031 Total collateral 1 / After deducting $155 million participations of other Federal Reserve Banks. 2/ After deducting $ 71 million participations of other Federal Reserve Banks. 6k 12 k O O -41—1 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities 555 1 1,010 1,351 -570 690 900 “- .......155— 2,700 3,200 970 * Less than $500,000.
@FedFRASER