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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release October 4, 1$62 H.ij.,1 The average of daily figures of total member bank reserves held during the week ended October 3 increased a net of $4 million to $20,198 million. Estimated currency and coin of member banks decreased $70 million and their reserve balances at the Federal Reserve Banks increased $74 million. Estimated required reserves increased $30 million; and estimated excess reserves decreased $26 million to $48l million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4l8 million, compared with the revised figure of $366 million the week before. The principal change supplying average reserve balances with Federal Reserve Banks was an increase of $606 million in U. S. Government securities bought outright. The principal offsetting changes were decreases of $429 million in Federal Reserve float and $78 million in member bank borrowings, and increases of $40 million in "other" deposits with Federal Reserve Banks and $27 million in currency in circulation. Total Reserve Bank credit increased $ll4 million. As of Wednesday, October 3, holdings of U. S. Government securities bought outright were $1,374 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $92 million higher, and member bank borrowings were $609 million lower. Outright holdings of bills, certificates, notes, and bonds increased $1,l44 million, $4 million, $77 million, and $149 million, respectively. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended Oct. k, Sept. 26, Oct. 3, 1962 1962 1961 Wednesday, Oct. 3, 1962 (][n millions of dollars) 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 reselves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 29,946 13 35 63 11 1,747 31,816 16,068 5,552 53,436 33,909 407 476 217 323 754 36,084 17,352 2,846 20,198 19,717 481 + 6O 6 + 13 -- +2 ,123 2 + + 1 30,476 92 34 - 78 --429 +TE4 -+ 4 29 + 9 4* 415 4-2 ,579 -1 ,312 11 153 1,511 32,277 +1,256 5,554 53,899 + 27 +1 ,231 1 33,976 4l6 + 4o - 6 + 44 4* + + + 74 - 70 + 4 * 30 - 26 + 316 277 17,737 + + - 593 596 3 20,705 +118 6 18 2 54 83 42 300 "941 11 16,068 492 196 330 752 36,162 2,968 19,660 1,c 45 On October 3, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,84l million, an increase of $103 million for the week and an increase of $712 million from the comparable date a year ago. n.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BARKS (in millions of dollars) Oct. 3, 1962 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 1962 m ) Total loans and securities (1,122) 1961 -- 14, 596 Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change since Oct. 4, Sept;. 26, 1,198 - 15,794 - 2 2 379 164 34 - 609 -1,413 + 133 -1,280 4 + -- 2,984 9,542 13,849 4,101 30,476 92 30,568 +1,144 + 4 + 77 + 149 +1,374 492 +1,466 87 +7,910 -5,829 + 550 +2,544 + 92 +2,636 30,766 4- 857 +2,732 5,306 107 - 158 + 632 -29 722 3 + 387 +2,447 (1,591) 670 53,022 (469) 28,943 + 128 +1,226 17,737 45 37 828 308 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits + 492 196 632 - 19 55 330 18,755 + 4o 4~ 598 + + + + 28 + (1,591) 3,795 71 51,564 + + C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,591) 888 108 53,022 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 21 96 (1,122) 462 7 705 --+ + 17 722 825 11 15 +2,347 - + + 30 71 1 +2,447 Ratio of gold certificate reserves to deposit and F . R. note liabilities combined (com puted from figures as shorn on the fol 4.' lowing pages--not consolidated) 32 .8$ Contingent liability on acceptances purchased for foreign correspondents 68 -55 * Figures in parentheses are the eliminations made in the consolidating process; _____ see comparable figures on combined basis on the following pages.____________ MATURITY DISTRIBUTION OF LOADS ADD SECURITIES, OCTOBER 3, 1962 (Acceptances and securities held under repurchase agreement are class’ified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. D is c o u n ts and advances Within 15 days l6 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 lb9 15 -- A c c e p ta n c e s 9 25 -- ---- -- „ -- m 35 G o v e rn m e n t s e c u r i t i e s Changes H o ld in g s d u r i n g week 754 4,977 12,175 10, 142 2, 317 203 30, 568 + + 535 324 4* 444- 155 64 7 381 +1,b66 E.4.1(13 ) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 3, 1962 Total New York Boston Phila delphia 14,596 1,198 718 3,860 280 791 _ .... 73 864 4,140 15,794 69 787 F. R. notes of other Banks Other cash 469 379 47 27 116 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 164 26 2,984 9,542 13,849 .4,101 30,476 ____ 92 155 496 719 213.. 1,583 -- 7,553 ____ 92 Total U. S. Government securities 30,568 1,583 Total loans and securities 30,766 6,428 Cash items in process of collection Bank premises Other assets TOTAL ASSETS Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco (In millions of dollars) A S S E T S Gold certificate account Redenption fund for F. R. notes Total gold certificate reserves Cleve land 1,157 103 1,260 1,045 . 97 1,142 786 2,389 72 858 215 2,6o4 310 32 15 20 63 23 24 24 44 32 27 65 10 30 19 12 6 3 9 16 27 51 7 4 ... - - .... 162 518 802 751 223 1,654 1,163 345 2,561 -- -- 7,645 1,654 2,561 1,995 1,635 1,609 7,685 1,657 2,570 2,011 107 670 446 3 34 1,292 387 3 38 513 9 175 54,613 2,953 13,480 3,034 ... 629 29 62 — 34 281 570 47 617 579 50 34 739 2,365 3,433 1,016 251 8 - - 625 160 512 509 1,626 907 743 2,361 268 220 699 1,995 1,635 5,195 195 12 118 378 548 557 38 595 21 130 191 415 1,988 14 51 58 5 2 - - 60 1,863 125 121 386 560 166 •- 384 1,228 1,783 528 3,923 278 603 82 611 179 1,327 1,233 -- -- -- -- 5,195 1,206 611 1,327 1,233 3,923 1,662 5,246 1,213 615 1,335 1,238 3,925 451 l4 37 986 288 6 196 267 58 509 5 36 13 32 778 11 88 4,459 3,751 3,098 9,054 2,180 6,899 8 24 102 162 1,206 25 16 315 7 29 2,190 1,185 2,330 4 — E. k.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 3, 1962 Total Boston Phila delphia New York Cleveland Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco (in millions of dollars) 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 29,hl2 1,733 17,737 1*92 707 37 6,819 1,805 2, 582 2,111 1,960 785 1,286 39 799 16 17 2 5 11 11 1 838 196 8 330 18,755 * 752 83 1/61 271 5,378 1,917 395 872 30l 71 53,155 18 13,087 1 2^81 1 2,951 1,698 5,360 1,2ll 563 1,202 872 3,093 901 2, 587 65 25 6I7 110 21 1 1 783 38 975 832 232 1,013 2,897 38 25 13 3,003 210 599 3l 23 6 1, 3ll 858 10 1 916 393 375 371 796 219 5 32l 3,682 5 1 3,019 12 8,816 2,llo 1,152 22 25 17 65 12l 16 lo 7 7 19 31 - 3 11 20 2 8 1 2,678 677 136 151 l 3 2 8 3 2 2,268 27 10 1 3 9 2,098 6,70l 37 ____ 1 26 50 6 62 120 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign c orre spcndent s 20 162 888 108 22 12 5 12l 2I3 26 26 6 13 83 9 51,613 2,953 13,180 3,03I 1,159 3,751 3,098 9,051 2,190 1,185 2,330 2,180 6,899 68 3 2/19 1 6 3 1 9 2 2 3 k 9 5,500 1,296 .659 1,243 930 3,2i*l 31*0 310 .. 95Q 1,268 51 .... 13- FE D E R A L RESERVE A G E N T S ' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 30,650 1,781 7,099 1,865 2,7^2 2,531 1,763 1*80 1,600 1*65 720 750 -- l,8ol* 1*85 — 1,1*00 1,1*00 -- 1*,300 1,010 130 -550 2,55^ 1,885 5,700 1,357 680 7,795 17 23,859 -- -- 1,390 5,600 2 1,500 31,671 l, 870 7,200 1,967 2,100 2,820 2/ After deducting $ L9 million participations of other Federal Reserve Banks. — 7 * 8 Less th a n $500, 0 0 0 . 215 -__15-5— 970 900 — 2.500 3,1*00
@FedFRASER