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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release November 8, 1962 The average of daily figures of total member bank reserves held during the week ended November 7 decreased a net of $217 million to $19,590 million. Estimated currency and coin of member banks decreased $223 million and their reserve balances at the Federal Reserve Banks increased $6 million. Estimated required reserves decreased $38l million; and estimated excess reserves increased $164 million to $6l6 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $458 million, compared with the revised figure of $373 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $195 million in U. S. Government securities bought outright and $152 million held under repurchase agreement, $79 million in member bank borrowings, and decreases of $149 million in Treasury deposits with Federal Reserve Banks and $23 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $228 million in Federal Reserve float and $29 million in gold stock, and increases of $192 million in currency in circulation and $150 million in "other1 F. R. accounts (net). Total Reserve Bank credit increased $195 million. i As of Wednesday, November 7, holdings of U. S. Government securities bought outright were $174 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $51 million lower, and member bank borrowings were $360 million higher. Outright holdings of bills, notes, and bonds increased $15 million, $22 million, and $152 million, respectively, and certificates decreased $15 million. Averages of daily figures Week ended Change from week ended Wednesday M ember b a n k r e s e l v e s , Nov. 8, Nov. 7, Oct. 31, Nov. 7, R e s e rv e B a n k c r e d i t , 1962 1962 1962 1961 a n d r e l a t e d it e m s 0 [n millions of dollars) Reserve Bank credit: U. S. Government securities— +1,582 30,127 30,048 +195 Bought outright— System account + 158 +152 187 197 Held under repurchase agreement 34 - 1 7 35 Acceptances--bought outright Discounts and advances— Member bank borrowings Other Float T o t a l R e s e rv e B a n k c r e d i t G o ld s t o c k Treasury currency outstanding 158 12 1,247 31,686 15,977 5,555 53,218 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 reselves (estimated) Excess reserves (estimated) + 79 -- -228 +195 - 29 + 3 +159 302 +192 + 1 -149 - 23 - 9 822 36,340 +150 +152 16,878 + 34,231 4l0 392 184 2,712 19,590 18,974 616 6 -223 ■^SI? -381 +164 + 67 + 10 + 117 +1,926 -1,314 24 + 5B8 567 12 740 317677 15,978 5,556 53,211 +1,264 13 83 89 + 44 - 170 + 952 34,446 4l2 325 194 319 819 36,515 + + 363 282 81 224 143 16,696 2,844 19,540 18,844 696 On November 7, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,060 million, a decrease of $77 million for the week and an increase of $1,092 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 3l> Nov. o, Nov. 7, 1962 1961 1962 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances— bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities J L 7v (364) L I A B I L I T I E S Federal~Reserve~notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES c a p i t a l - 351 579 34 (1,029 ) 3 3 - 15 +360 -1,408 + 100 ^17308 25 91 + — 5 ?o 7324 + 15 - 15 + 22 +152 +174 - 51 +123 - 969 +7,838 -5,905 + 639 +1,603 + 112 +1,715 30,937 +483 +1,801 4,783 -281 + 2,393 9,527 13,924 4,283 30,127 197 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS -- l4,48l 1; 208 15^59 426 5 — 105 (1,393 ) 52,487 + 23 +207 + 276 +1 ,165 (364) 29,364 +333 +1,265 16,696 -125 + - 622 -188 + 12 + 10 325 194 319 17,53^ (1,029 ) (1,393 -291 +150 4,043 76 51,017 + 1 +193 421 140 80 50 591 + 393 + 3 +1,070 a c c o u n t s Capital~paid in~ 464 Surplus 888 Other capital accounts 118 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 393 ) f|>,"487 + 1 - - + 13 +207 + + 31 71 7 +1,165 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages— not consolidated) 33 .2$ -- 3 *3$ Contingent liability on acceptances purchased for foreign correspondents 67 - 2 47 * 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, NOVEMBER 7, 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 527 52 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 To ta l Acceptances 6 28 ... ---- -— 579 3* U. S. Government securities Changes Holdings during week -169 3,753 1,656 12,025 10,283 2 ,4 0 0 207 W 5 & +165 - 52 +100 + 75 + 4 + i§ 3 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON NOVEMBER 7, 1962 E.4.1(b) To ta l B o s to n New Y o rk P h ila d e lp h ia C le v e la n d A t l a n t a C h ic a g o (I n m illio n s ASSETS 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 re s e rv e s R ic h m ond l4,48l 807 1,208 69 15,669 .. 876. 3,528 287 3,615 792 71 1,137 103 1,240 1,050 93 ■ i;i* 6 " ~ S t. L o u is D a lla s San F ra n c is c o 6l4 52 621 1,790 38 666 659“ 130 1,920 M in n e K a n s a s C it y a p o lis o f do]P a r s ) 820 72 892“ 213 639 51 2,610 690 2,397 286 29 315 F . R . n o te s o f o t h e r Banks O th e r cash 364 351 28 26 104 59 49 23 11 26 17 32 9 17 13 28 22 62 30 22 12 10 15 13 3** 53 D is c o u n ts a n d ad van ce s 579 4 72 1 11 4o 14 268 41 * 42 10 76 — — — — — — — — -- 201 801 1,170 360 158 627 917 282 131 96 **9 380 196 287 89 104 4l6 97 387 607 187 566 1,984 -- A c c e p ta n c e s : B ought o u tr ig h t U . S . G o v e rn m e n t s e c u r i t i e s : B ought 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 ld u n d e r re p u rc h a s e a g re e m e n t 2,393 9,527 13,924 4,283 30,127 197 T o t a l U . S . G o v e rn m e n t s e c u r i t i e s 30,324 T o t a l lo a n s a n d s e c u r i t i e s C a s h it e m s i n p r o c e s s o f c o lle c t io n B a n k p r e m is e s O th e r a s s e ts TO TA L A S SETS 3** — 121 484 707 217 34 — 591 2,353 3,438 132 1,058 236 525 767 520 761 405 1,613 2,358 725 5,101 -- 556 171 1,203 -- -- 1,31** «•— 174 1,224 •“ 1,203 621 1,314 1,224 3,873 5,369 1,244 621 1,356 1,234 3,9**9 458 906 24 7 27 242 13 29 640 24 ... 97 209 4 13 283 14 34 276 6 3,118 9,090 2,266 1,204 2,362 2,205 6,687 234 1,646 7,440 197 1,660 -- 2,532 1,529 7.637 1,660 2,532 1,984 1,646 5,101 30,937 1,533 7,7*6 l,6 6 l 2,5*6 2,024 1,660 5,812 622 44l 3 31 1,032 8 158 4o4 3 35 475 7 56 446 5 38 53,880 2,938 12,919 3,038 **,358 3,695 105 1,529 — 308 1,225 1,790 550 — B5T“ ♦ L e s s t h a n $ 5 0 0 ,0 0 0 3,873T 11 80 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 7, 1962 Total Boston New York Phila delphia Cleve land Rich mond Atlanta Chicago St. Louis Minne Kansas apolis City Dallas San Fran cisco (in millions of doi:Lars) L I A B I L I T I E S 6,928 1,8l4 2,589 2,474 1,733 5,412 1,258 564 1,208 880 3,137 741 3 13 * 887 935 697 ^15 27 5 1 448 851 25 9 1 886 999 2o 12 1 1,040 2,688 51 30 48 735 2,486 7 31 2 2,526 672 17 8 * 757 1,189 27 21 1 1,238 692 29 10 4 769 ^,361 33 1/33 259 4,686 5,072 365 888 380 389 4l0 367 929 258 158 202 199 527 76 52,410 3 2,868 21 12,523 4 6 4,222 5 3,624 4 13 l 4 1,171 2,300 3 2,122 10 6,491 464 888 125 243 118 22 42 6 28 51 6 ^3 83 10 27 50 6 62 120 l4 53,880 2,938 12,919 3,038 ^,358 67 3 2/18 4 6 Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 29,728 1,731 l6, 696 325 194 319 17,534 715 ^3 10 1 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 2,955 35 12 1 2,817 3,039 8,880 2 2,215 25 47 7 65 124 21 16 31 4 3,695 3,118 9,090 2,266 1,204 2,362 2,205 6,687 3 4 9 2 2 3 4 9 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign corre spondents__________________ 26 22 4o 9. 20 11 20 37 2 _____ 5_ FEDERAL RESERVE AGENTS' ACCOUNTS 1,864~ 2,730 2,573 1,800 5,5^5 1,313 652 1,236 932 3,265 465 1 720 775 485 1,400 130 320 215 800 1,500 2,100 1,824 1,400 4,300 340 4l 1,010 550 42 950 755 2,600 2,820 1,966 2,599 7,400 Total collateral 31,993 1,870 l/ After deducting $ l6l million participations of other Federal Reserve Banks. 2/ After deducting $ 49 million participations of other Federal Reserve Banks. 1,885 5,700 1,391 680 1,312 970 3,4o o F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities 30,920 1,802 7,208 7,730 84 24,179 480 1,600 1,390 5,800 * L e s s th a n $ 5 0 0 ,0 0 0
@FedFRASER