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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 October 18, 1962 The average of daily figures of total member bank reserves held during the week ended October 17 decreased a net of $78 million to $20;259 million. Estinated currency and coin of member banks increased $183 million an<^ "their reserve balances at the Federal Reserve Banks decreased $261 million. Estimated required reserves decreased $19 million; and estimated excess reserves decreased $59 million to $*1-22 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $351 million, compared with the revised figure of $^37 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $201 million in Federal Reserve holdings of U. S. Government securities and an increase of $154 million in currency in circulation. The principal offsetting changes were an increase of $27 million in member bank borrowings, and decreases of $34 million in "other" F. R. accounts (net), $33 million in Treasury deposits with Federal Reserve Banks, and $29 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $187 million. As of bought outright securities held bank borrowings Wednesday, October 17, holdings of U . S. Government securities were $264 million lower than a week earlier, U . S. Government under repurchase agreement were $72 million lower, and member were $85 million higher. A v e ra g e s Member b a n k r e s e r v e s , R e s e rve B ank c r e d i t , a n d r e l a t e d it e m s Week ended Oct. 17, 1962 o f d a ily f ig u re s Change from week ended Oct. 18, Oct. 10, 1961 1962 Wednesday, Oct. 17, 1962 (In millions of dollars) 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 tr 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 t a n c e s - -b o u g h t o u t r i g h t D is c o u n t s a nd 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 rve B a n k c r e d i t G o ld s t o c k T r e a s u r y c u rre 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 r e a s u r y 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 ) 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 xce ss re s e rv e s (e s tim a t e d ) 30,385 95 34 -l6l - 40 -- +2,255 25 30,193 -34 71 + 27 - l - 12 ^187 -- 4 74 + 9 + 328 +2,492 -1,269 17 +1,205 l6l 11 1,633 32,229 16,067 5,551 53,847 34,256 398 480 214 336 717 36,401 17,445 2,8l4 20,259 19,837 422 -192 +154 - 12 - 33 - 29 + 22 - 34 71>9 -261 +183 - 78 - 19 - 59 1 11 1,763 32,162 l6,068 5,550 53,780 +1,246 24 + 1 34 + 36 - 281 + 944 34,187 403 479 261 194 455 17,495 3,109 20,6c4 607 20,081 152 523 + + + + - 206 322 688 367265 On October 17, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were$7,079 million, an increase of $196 million for the week and an increase of $959 million from the comparable a year ago. Digitized fordate FRASER H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Oct. 17, Change since Oct. l6, Oct. 10, Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer— general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 14,578 1,212 + 367 172 12 12 -- 15,790 (419) 1961 1962 1962 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves + + 80 13 -1,382 + 150 -1,232 + 35 2,6l8 11 128 2 - 26 k 9,542 13,902 4, 131 30,193 -30,193 - — — — 265 72 336 - 4l6 +7,903 -5,825 + 548 +2,210 -+2,210 30,399 - 256 +2, 336 696 (1,*63) 6,314 +1,533 + 707 (1,852)537683 + 17 +1,206 4 + 4l4 +2,199 (419)29,129 - 57 +1,233 17,495 479 + + + 331 13 106 206 322 18,502 (1,533) 4,551 79 (1,852)52,261 C A P I T A L A C C O U N T S Capital paid in 462 Surplus 888 Other capital accounts 72 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,852)53,683 1 21 15 312 + 996 + 9 +1,260 — -54 + 1,206 + + + + 285 21 81 55 280 + 582 + 10 +2,105 + + 29 71 6 +2,199 * CVJ Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol - 3-7$ lowing pages— not consolidated) 32.9$ Contingent liability on acceptances purchased 1 66 53 for foreign correspondents Figures in parentheses are the eliminations made in the consolidating process; see ccmparahle figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 17> 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. Government securities Changes Discounts and during week Holdings Acceptances advances 444 Within 15 days 8 158 -273 -162 4,744 14 26 16 days to 90 days --12,294 91 days to 1 year + 99 — -Over 1 year to 5 years -10,183 -Over 5 years to 10 years -2,325 --Over 10 years 203 -336 Total I 72 30,193 3? STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 17, 1962 H.4.l(b) Total Boston New York P h iladelphia C l eveland Rich mond Atlanta Chicago St. Minne Louis a p olis Kansas City Dallas San Fran cisco (In m i l l i o n s o f dollLars) ASSETS 26 23 63 30 l4 18 22 4o 30 11 22 15 27 17 12 11 13 40 56 1 13 5 15 51 * 2 9 9 10 -- —— 15,790 F . R . n o te s o f o t h e r Banks O th e r cash 419 367 30 27 119 67 53 D is c o u n ts an d a d va n ce s 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 : 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 172 13 44 — 34 2,618 799 72 87I 2,477 215 2,692 -- — — — — -- 142 22 0 170 142 443 519 756 225 802 1,168 620 904 520 l,6l6 757 2,355 104 378 550 268 225 — 106 334 700 163 1,962 '1 7 6 5 5 ” 5,H4 1,195 2,537 1,962 1,644 5,114 1,195 606 1,314 1,221 3,848 1,643 2,550 1,967 1,659 5,165 1,195 6c8 1,323 1,230 3,858 505 3 40 579 7 63 594 5 4o 552 14 39 1,251 24 107 338 6 36 1,659 9 184 26 24o 4 15 372 7 30 303 13 34 3,065 13,314 3,110 4,556 3,766 3,205 9,325 2,302 1,246 2,44o 2,233 215 1,569 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 30,193 1,569 T o t a l lo a n s a n d s e c u r i t i e s 30,399 1,213 114 53 415 191 605 279 180 83 5 o S ~ 1,314 9,542 13,902 4,131 30,193 TO TA L A S S ETS 772 72 3,657 ---- 8 5 4 “ 654 2,383 3,472 1,032 7,541 C a s h it e m s i n p r o c e s s o f 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 51 709 1,315 2 89 34 53 653 1,972 125 2,097 630 29 337 1 ,112 70 851 1,212 584 38 622 308 102 3,368 14,578 658 1,016 96 781 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 136 496 722 1,642 347 2,537 7,541 1,642 1,582 7,619 7,747 536 106 3 707 55,535 386 502 167 1,216 1,772 526 1,221 3,848 * L e s s t h a n $ 5 0 0 ,0 0 0 . 818 11 93 6,973 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 17, 1962 Total Boston New York Phila delphia Cleve land Rich mond St. Louis Minne apolis Kansas City Dallas San Fran cisco 5,395 1,251 567 1,206 875 3,105 2,653 46 436 19 4 1 460 828 51 8 1 888 Atlanta Chicago (In millions of dollLars) L I A B I L I T I E S 2,456 1,710 * 757 43 8 5 ^,975 807 1,331 813 916 25 10 2 953 2 2,727 692 31 6 1 730 450 1,093 408 492 424 461 989 269 184 282 253 4 2,997 20 4 13 9,124 2 4 3,029 4 5 3,698 . 3,128 3 12,931 7 4,425 2,253 1,213 2, 380 3 2,152 124 243 26 43 22 Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 29,548 1,735 6,843 1,810 17,495 479 772 27 9 * 4,579 266 774 22 11 * Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 5,984 79 54,113 206 322 18,502 60 1/70 2,595 1,275 38 18 26 2,836 977 32 ‘85 11 25 1 ____ 43_ 1,021 2,989 679 10 6,783 -CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign corre spondents 462 888 72 22 55, 535 68 65 124 12 16 31 2 11 20 2 20 26 50 37 3 _____ L. 62 120 8 16 51 4 83 4o 5 6 25 47 5 3,065 13,314 3,U0 4,556 3,766 3,205 9,325 2,302 1,246 3 2/l9 4 6 3 4 9 2 2 5,535 1,316 65 6 1,244 940 3,265 1,400 340 130 320 9 215 900 950 7 55 -2^5.qQ- 1,279 970 3,400 42 4 2,440 3 2,233 4 _6,_9_X3 ___ 2_ F E D E R A L RESERVE AGENTS* ACCOUNTS F . R . n o te s o u ts ta n d in g C o lla t e r a l f o r F . R . n o te s : G o ld c e r t i f i c a t e a c c o u n t E lig ib le paper U . S . G o v e rn m e n t s e c u r i t i e s T o ta l c o lla te ra l l / A f t e r d e d u c t in g $136 m i l l i o n Digitized2 for FRASER / A f t e r d e d u c t i n g $ 49 m i l l i o n 30,874 1,793 7.151 1 ,8 6 6 7,78 0 9 24,099 440 1,600 465 31,888 2 ,7 5 4 “ 2 ,5 6 4 “ 1,790 720 765 485 * -- * 1.410 5.800 1.500 2.100 1.824 i.4 o o 4.^00 1 .0 1 0 550 1,850 7r4oo 1,965 2,820 2,589 1,885 5,700 1,350 680 — « .. . - - p a r tic ip a tio n s o f o th e r F e d e r a l R e s e rv e B a n k s. p a r tic ip a tio n s o f o t h e r F e d e r a l R e s e rv e B a n k s . - - - - * - - Less than $500,000 —
@FedFRASER