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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release September 27, 1962 H.4.1 The average of daily figures of total member bank reserves held during the week ended September 26 increased $21 million to $20,180 million. Estimated currency and coin of member banks increased $16 million and their reserve balances at the Federal Reserve Banks increased $5 million. Estimated required reserves increased $39 million; and estimated excess reserves decreased $18 million co ^496 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $355 million, compared with $489 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $116 million in member bank borrowings and million in Federal Reserve float, and decreases of $163 million in currency in circulation and $85 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $408 million in U. S. Government securities bought outright. Total Reserve Bank credit decreased $253 million. As of Wednesday, September 26, holdings of U. S. Government securities bought outright were $566 million lower than a week earlier and member bank borrowings were $704 million higher. 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) Averages of daily figures Week ended Change from week ended Sept. 26, Sept. 19, Sept. 27, 1962 1962 1961 (In millions of dollars) 29,340 -35 -408 --- +2,143 3 + 1 29,102 l4i 11 + 116 2 ,1 7 6 + ko 762 11 1,641 31,550 5,548 53,318 + 1 + 4 ■=259 + 114 + 9 + 453 + 2,716 -1,383 +1,321 53,168 + 11 - 85 - 3 - 1 - l4 ■^54 + 1,270 13 + 58 77 37 - 289 + 913 33,849 405 511 251 + 5 + 16 + 21 + 39 - 18 + + + + - 31,702 16,068 33,882 401 494 219 283 760 36,040 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Wednesday, Sept. 26, 1962 17,278 2,902 20,180 19,684 496 -253 -163 12 407 254 661 822 l 6l 34 16,068 5,550 290 757 36,063 17,105 3,196 20,301 19,674 627 ^ -69- On September 26, 1962, U . S . Government securities held in custody by the ederal Reserve Banks for foreign account were $ 6,738 million, an increase of 64 million for the week and an increase of $687 million from the comparable ate a year ago. CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) H.4.1(a) _____ Change since Sept. 26, Sept. 19, Sept. 27, 1962 1962 1961 ASSETS — 14,596 Gold certificate"account Redemption fund for F. R. notes Total gold certificate reserves 1,200 3 3 15,796 -1,513 + 135 -1,378 * (520 ) 383 773 34 + + 4 704 “- + + 1,84o 9,538 13,772 3,952 - 566 ---- 29,102 - - 520 +7,917 -5,867 + 491 +2,021 29,102 - 566 +2,021 29,909 + 138 +2,711 -1,528 — + 29 -1,360 + (1 ,653 ) 5,464 107 64l 52,300 (520 ) 28,815 - 114 +1,222 + 151 72 + + - (**) (**) 17,105 511 251 290 18,157 (1,653 ) 3,823 64 50,859 -1,057 3 -1,376 C h l I 5 A L a c c o u n t s Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,653 ) 462 888 91 52,300 + Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer— general account Foreign Other Total deposits (1 ,133 ) Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (1 ,133 ) - 23 2 202 1 — + 15 ^350 32 689 1 705 3 + 397 +2 ,4oo 795 26 102 8 711 364 4 + + + +2,301 + + 30 71 2 +2,4oo Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol 4J lowing pages— not consolidated) 33.3$ Contingent liability on acceptances purchased 57 68 for foreign correspondents * 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, SEPTEMBER 26, 19^2 (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 -322 219 10 Within 15 days 759 - 67 24 4,653 16 days to 90 days l4 -177 11,794 91 days to 1 year — -9,987 Over 1 year to 5 years -2,253 Over 5 years to 10 years -196 Over 10 years — -566 29,102 3* ** Total __________ 773 ** Less than $500,000. STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 26, 1962 H.4.l(h) Total Boston Phila delphia New York Cleve land Rich mond' Atlanta Chicago St. Louis Minne Kansas a p olis City Dallas San Fran cisco (In ipillions o f dollars) A S S E T S 1,200 69 15,796 783“ F. R. not e s of o t h e r Banks Other cash 520 383 51 27 Discounts and advances Acceptances: Bought outright ;j. S. G o v e r n m e n t securities: Bought outright— Bills Certificates Notes Bonds Total H e l d under repurchase agreement 773 19 34 _ _ 96 1,840 9,538 495 716 13,772 3,952 205 29,102 ' 1,512 3,683 745 280 73 3,963 --- 818 120 1,222 103 1,325 21 13 67 CO 59 238 16 1 28 23 66 -- — — 30 l4 2,709 65 30 30 25 272 24 25 47 34 -- 456 105 544 155 786 226 980 1,661 7,213 801 120 620 1,157 332 2,445 895 257 1,892 212 1,562 TT930- 2,445 1,892 1,562 2,364 3,413 — OJ l,66l T o t a l loa n s a n d securities 29,909 1,531 7,519 1,685 2,470 1,939 6,597 1,239 378 3 37 540 64l 467 3 33 58 523 5 34 53,953 2,895 13,081 3,010 4,452 3,649 20 12 46 30 2 lk 64 25 1,512 TOTAL ASSETS 34 12 2,495 29,102 107 15 19 22 66 824 73 897 T o t a l U. S. G o v e r n m e n t securities C a s h i t e m s in p r o c e s s of collection Bank premises Other assets 605 50 875 306 29 335 995 98 1,093 9 166 8 — 625 — — 312 72 378 545 — 47 652 80 536 33 5f4 1,846 126 T7372 234 1,216 1,151 37 191 276 79 583“ 172 1,267 I* 177 1,755 504 3,709 4,930 1,151 583 1,267 1,177 3,709 1,576 5,168 1,167 584 1,295 1,200 3,775 456 1,002 24 97 278 6 200 14 35 339 7 28 293 13 32 3,054 9,096 2,353 2,147 99 512 739 1,616 2,333 669 156 23 4 14 2,183 1,183 4l5 600 74 386 - A / * 557 160 00 714 H ro R e d e m p t i o n f u n d f o r F. R. notes T o t a l g o l d c e r t i f i c a t e reserves 1^,596 CO H CD Gold certificate account 6,850 STATEMENT OF CONDITION OF EACH FEDSFAL RESERVE BANK ON SEPTEMBER 26, 1962 H.4.1 (c) T o ta l Boston New York P h ila delphia Cleve land Rich mond A tlan ta Chicago S t. Louis Minne ap o lis Kansas C ity San Fran c is c o D allas (In m illio n s oi do.L ia rs ) l i a b i l i t i e s Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign V v i l v JL Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purcliased for foreign correspondents l, 806 2, 585 2,b2 b 1,690 5,357 1,237 565 1,197 1,283 723 38 873 2,628 64i 4oi 12 26 8 26 10 45 31 802 28 227 749 43 13 l 5,082 806 1,347 775 913 4,956 j 402 796 312 381 377 3 2,827 16 b b 12,693 2,928 5 b,318 43 83 29,335 1,727 6,799 651 31 11 2 695 4,686 17,105 5H 251 290 | 18,157 j \ 6b \ 52,512 ,81 1/88 b2 21 1 26 870 3,078 906 2,762 91 30 50 2,933 637 2,705 675 5 * 432 84o 34 13 l 954 370 819 220 152 251 239 10 8,891 2 3 9 2,134 1 1,150 b 3,580 3 2,976 2,292 2,6 66 6,657 22 k0 25 47 20 26 37 4 50 5 62 120 11 b 2 1 * 9 1 \ i\ • 22 b62 ! 888 j 91 ? 53,953 68 | j b2 b 124 243 26 21 51 5 5,895 13,081 3,010 3 §/l9 b 65 16 31 2 11 20 2 7 6 124 l6 4,452 3,649 3,054 9,09 6 2,183 1,183 2,3JB 2.147 6,850 6 3 b 9 2 2 3 b 9 8 FEDERAL RESERVE AGENTS' ACCOUNTS 30, 625 11,787 7,063 1,871 2,744 2,518 1,759 5,496 1, 300 661 1,24o 934 3,252 7,795 480 1,600 465 720 750 485 l, 4oo 340 310 28 215 900 L, 390 5,600 2,100 1,784 1,400 b, 300 16 1,010 130 550 950 _ 135__ 7,200 1,989 2,820 2, 534 31,702 L, 870 Total collateral 1/ After deducting $163 million participations of other Federal Reserve Banks. 1,885 5,700 1,366 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Digitized2/ for FRASER After deducting 68 23,839 2b 1,500 $ 49 million participations of other Federal Reserve Banks. 680 1,288 970 * Less than $500,000. 2,500 ..■3*400
@FedFRASER