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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.^l * For immediate release May l6, 1963 The average of daily figures of total member bank reserves held during the week ended May 15 decreased a net of $72 million to $19*6^ million. Estimated currency and coin of member banks increased $190 million and their reserve balances at the Federal Reserve Eanks decreased $262 million. Estimated required reserves decreased $179 million; and estimated excess reserves increased $107 million to $^69 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $270 million, compared with the revised figure of $252 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $115 million in U. S. Government securities^held under repurchase agreement, $7^* million in Federal Reserve float, and $36 million in gold stock, and increases of $178 million in currency in circulation^and $78 million in Treasury deposits with Federal Reserve Banks. The principal off setting changes were increases of $98 million in U. S. Government securities bought outright and $89 million in member bank borrowings. Total Reserve Bank credit decreased million. As of Wednesday, May 15> holdings of U. S. Government securities bought outright were $2+0 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $53 million lower, and member bank borrowings were $260 million higher. Outright holdings of bills decreased $40 million. Holdings of certificates increased $867 million and notes decreased $867 million, reflecting the exchange of $ 2,393 million certificates and $867 million notes maturing May 15 for $3,260 million of 3-l/4 per cent certificates maturing May 15,1964. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement Acceptances--bought outright Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Change from week ended May l6, May 15, May 8, 1962 1963 1963 (In millions of dollars) 31,211 122 45 199 30 1,471 33,077 15,828 5,570 5V7VT5 34,933 4i6 1,047 156 189 984 377725 16,750 2,894 197644 19,175 469 Wednesday, May 15, 1963 + 98 -115 + 1 + 1 ,7C0 + 101 + 12 + 89 - 1 - 74 - 4 - 36 - 10 T -49 + 135 35 + 195 +2,107 - 628 25 +1,454 +178 - 19 + 78 - 16 - 2 - 6 +212 +1,527 7 + 510 63 - 153 12 + 1,801 34,964 4l8 -262 +190 + - 16,830 - 72 -179 +107 348 177 171 153 31,184 105 44 612 30 1,421 33,396 15,828 5/T2 547796 1,050 167 193 1,173 377965 3,234 20,664 i 19,198 18 On May 15, 1963, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7>6>32 million, an increase of $67 million for the week and an incre8.se of $2,022 million from the comparable date a year ago. 866 H. 4.1(a) ' CONSOLIDATED s t a t e m e n t o f c o n d i t i o n OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) May 15, 19.63.__ A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves + - 12 2 10 + 260 14,438 9,695 4,379 31,185 105 31,289 + - 867 867 - 40 53 93 - 532 +8,932 -7,297 + 627 +1,730 + 105 +1,835 31,975 + 167 + 2,208 14, 264 1,270 * Cash Discounts and advances Acceptances--bought Outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities (335) Change since May l6, May 8, 1962 1963 u33f 352 642 44 (1,295) 6,360 103 278 (1,630) 54,602 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 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 (335) 4o -- +1,375 __ (1,295) +1,568 59 + - 16,830 1,050 167 + + 80 (1,630) 53,128 £ A £ I £ A L a c c o u n t s Capital paid in” ~ Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,630) 479 934 6l 54,602 281 36 + 4,939 8 362 11 4 + 42 +1,888 193 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES + + + 743 - 249 +1,279 29,869 18,240 112 631 4 2,672 Total loans and securities + - + 66 16 1 108 +1,187 + 1 +1,332 -- 53 +1,279 278 423 44 168 67 + 311 + 5 +1,817 + + 25 46 -- + 1,888 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) - .1/ 32 .l/o - 2 .31o Contingent liability on acceptances purchased for foreign correspondents -25 83 * Fibres in parentheses are the eliminations made in the consolidating process; see comparahle figures on combined basis on the following pages. __________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 15, 1963 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) 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 DigitizedTotal for FRASER ** Less than $500,000. Discounts and advances 640 2 ** --- - 652 Acceptances 13 31 -- -- -- 55 U. S. Government securities Changes Holdings during week gsf -3, 507 + 182 1,599 +6,247 18,870 8,248 -2, 787 - 228 2, 020 -165 31,289 93 STATEMENT H.4.1(h) To ta l of c o n d i t i o n of e a c h f e d e r a l r e s e r v e e a n k o n m a y B o s to n P h ila d e lp h ia New Y o rk C le v e la n d (in R ic h mond m illio n s A tla n ta 15, 1963 C h ic a g o S t. L o u is M in n e a p o lis Kansas C it y D a lla s San F ra n c is c o o f d o lla r s ) 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 R e d e m p tio n f u n d f o r F . R . n o t e s T o t a l g o ld c e r t i f i c a t e r e s e rv e s F . R . n o te s G th e r ca sh o f o th e r Banks D is c o u n ts an d advances A c c e p ta n c e s : B ou ght o u t r ig h 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 tr ig h t— B ills C e rt if ic a te s N o te s Bonds To ta l 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 To ta l U. S . G o v e rn m e n t s e c u r i t i e s T o t a l lo a n s a n d s e c u r i t ie s C ash ite m s i n p ro c e s s c o lle c tio n B a n k p r e m is e s O th e r a s s e ts T O T A L A S S ETS Ik, 26k 1,270 15,534' 743 70 813 3,717 309 4,026. 782 73 855 1,219 111 1,330 938 103 i,o4i" 734 73 578 54 807 2,4l8 226 2,644 632 287 28 315 570 50 620 608 1,670 38 135 646 1,805 335 14 23 89 58 28 18 19 32 22 29 36 32 30 6l 12 17 22 352 8 11 10 17 11 35 53 642 11 306 2 52 53 18 57 18 5 60 3 57 147 791 531 221 1,191 178 146 790 530 240 1,706 444 2,398 107 56 303 204 44 44 2,672 14,438 9,695 4,379 31,184 105 l4o 755 507 229 1,631" 666 3,599 2,417 1,091 7,773 105 240 1,709 -- 800 361 2,573 _ _ 963 647 293 2,c8l -- — 579 388 l,6 ll 175 727 5,180' 1,249 --- 92 “ 655" 114 617 4l4 187 — 1,332 -- 351 1,900 1,275 168 576 1,193 4,102 102 552 371 -— —— 31,289 1,631 7,878 1,709 2,573 2, C 8 l 1,706 5,180 1,249 655 1,332 1,193 4,102 31,975 1,642 8,228 1,7H 2,625 2,134 1,724 5,237 1,267 660 1,392 1,196 4,159 451 1,500 16 16 1,297 23 42 223 8 71 593 5 17 592 l4 278 644 7 24 360 3 14 463 3 6 10 4 6 382 7 13 327 12 13 823 11 36 56,232 2,960 13,980 3,094 4,681 3,841 3,221 9,334 2,304 1,238 2,435 2,222 6,922 of 7,655 103 ~ STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON MAY 15, 1963 HA.l(c) Total Boston New York Phila delphia Cleve land Rich mond Atlanta Chicago St. Louis Minne apolis Kansas Dallas City 1 San | Fran cisco 1,205 893 3,228 802 880 882 71 9 1 963 2, 568 125 21 51 2, 765 (in millions of dollars) L I A B I L I T I E S 2,6l6 2,425 1,719 5,459 1,263 573 706 86l 51 9 1 619 77 5 1 922 2,484 84 23 1 2, 592 702 377 6l 4 1 443 493 494 1, 062 286 186 284 279 721 7 4,546 5 3,770 4 13 9,126 2 1, 204 3 2,372 3 2,138 12 3,139 3 2,254 6,726 44 27 51 4 67 16 132 9 32 2 11 22 1 20 4 23 44 4 3 28 53 3 64 124 8 3,094 4 ,681 3,84i 3,221 9,334 2 ,304 1,238 2,435 2,222 6,922 5 8 4 4 12 3 2 3 5 11 658 1,238 945 3,374 130 290 59 215 — Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 30,204 1,788 7,222 16,830 1, 050 663 193 7^ 8 * 4,820 199 18,2k0 7^5 5,198 811 1,297 59 15 1 1,372 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 6,234 353 l, 143 382 551 4 80 54,758 2,890 20 13,583 4 3,010 23 129 44 3 251 87 17 27 54 3 56,232 2,960 13,980 4 2/22 167 l/k9 130 1,813 751 51 9 •3f 130 8 3 847 68 7 3 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 479 934 61 83 4o FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral After deducting Digitized2/ for FRASER 31,511 1,833 7,524 1,887 2,783 2,5^1 1,787 5,6o4 1,337 7,253 76 25,470 443 1,600 580 620 400 i,4oo -- 465 * -- -- 1,434 6,100 1,500 2,250 1,986 1,450 4,500 310 17 1,100 32,799 1,877 7,700 1,965 2,630 2,6c6 1,850 5,900 1,427 — $ 6l million participations of other Federal Reserve Banks. — -- -- 550 680 800 -— 1, 000 800 2,800 1,349 1, 015 3,6co * Lefts than $500,000.
@FedFRASER