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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release September 6 > 1962 The average of daily figures of total member bank reserves held during the week ended September 5 decreased a net of $68 million to $19,848 million. Estimated currency and coin of member banks decreased $167 million and their reserves balances at the Federal Reserve Banks increased $99 million. Estimated required reserves increased $28 million; and estimated excess reserves decreased $96 million to $439 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $345 million, compared with the revised figure of $462 million the week before. The principal changes supplying coverage reserve balances with Federal Reserve Banks were increases of $245 million in U. S. Government securities bought outright and $l48 million held under repurchase agreement, and a decrease of $43 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $153 million in Federal Reserve float, and increases of $96 million in currency in circulation and $46 million in other F. R. accounts (net). Total Reserve Bank credit increased $252 million. As of Wednesday, September 5, 1962, holdings of U. S. Government securities bought outright were $184 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $233 million higher, and member bank borrowings were $1 million higher. Outright holdings of bills, certificates, notes, and bonds increased $95 million, $20 million, $39 million, and $30 million, respectively. 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 Sept. 6, Aug. 29, Sept. 5, 1961 1962 1962 [n millions of dollars) 0 30,264 l48 35 +245 +148 “- +2,424 + 148 —— 94 + 21 - 8 -153 - l4 - 45 +193 + 37 + 11 + 135 +2,75^ -1,353 + 3 +1,404 96 11 + 1,302 + 9 11 1,134 31,685 16,098 5,556 53,339 33,966 415 459 175 315 866 36,196 17,143 2,705 19,"848 19,409 439 +252 + + + + + 43 17 1 46 94 + 99 -167 - 68 + 28 - 96 10 + + + + + + - 95 12 245 973 431 303 73ft 836 102 Wednesday; Sept. 5, 1962 30,327 233 34 108 11 1,136 31,849 16,098 5,550 53,497 34,128 420 454 177 310 851 36,340 17,157 2,877 20,034 19,458 576 On September 5, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,452 million, an increa.se of $2 million for the week and an increase of $586 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) Sept. 5/ 1962 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves -ft (394) Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bends Total bought outright Held under repurchase agreement Total U. S. Government securities 14, 609 1,208 15,817 367 119 34 Change since Sept. 6, Aug. 29, 1962 + 2 2 - 27 + 1 -“* 1961 -1,533 + 164 -1,369 + 19 51 -— 30,560 + 95 + 20 + 39 + 30 +184 +233 +4i7 + 254 +7,855 -6,100 + 4l6 +2,425 + 233 +2,658 30,713 +4l8 + 2,709 4,451 + 576 (1,319) 52,031 + 36 -- 13, +^4-14 Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer— general account Foreign Other Total deposits (394) 29,084 +263 +1,271 +256 - 36 + 8 + - 18,098 - 3 +225 + Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (925) 3,315 71 - 95 + 3 3,065 9,538 13,772 3,952 30,327' 233 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS (925) 107 l i a b i l i t i e s 17,157 454 177 310 (1,319) 50,568 C A P I T A L A C C O U N T S Capital paid in 46o Surplus 888 Other capital accounts 115 TOTAL LIABILITIES AND CAPITAL ACC0UNTS(1, 319) 52,031 +396 --- + 18 +4i4 438 3 + 371 +2,.127 577 103 97 14 363 + 382 + 6 +2,022 + 30 + 71 + 4 +2,127 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol - 4.2 -.31o lowing pages— not consolidated) 33Contingent liability on acceptances purchased 2 65 for foreign correspondents TO * 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 5, 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 +402 Within 15 days 805 9 105 - 81 16 days to 90 days 14 4,763 25 91 days to 1 year 12, 556 + 39 + 47 -Over 1 year to 5 years 9,987 -+ 8 Over 5 years to 10 years 2,233 + 2 216 Over 10 years +4if Total 30,560 US - - - - - — - H.4.1(1o) STATEVIENf OF CONDITION' OF EACH FEDERAL RESERVE BANK ON SEPTEMBER To ta l B o s to n New Y o rk P h ila d e lp h ia (In 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 r e s e rv e s F » R . n o te s O th e r cash o f o th e r Banks l4 ,609 1,208 15 ,817 T O T A L A S SETS — 542“ 742 72 283 --535" 3,571 26 89 63 119 10 35 — 34 T o ta l U. C a s h it e m s i n p r o c e s s o f c o ll e c tio n B a n k p r e m is e s O th e r a s s e ts 69 3,288 37 9,538 13,772 3,952 30,327 233 T o t a l lo a n s a n d s e c u r i t i e s 773 394 367 d is c o u n ts and advances 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 ld u n d e r re p u rc h a s e a g re e m e n t S . G o v e rn m e n t s e c u r i t i e s C le v e la n d 34 3,065 160 495 716 205 1,570 760 2,364 3,413 980 1,238 R ic h m ond m illio n s 1,025 A t l a n t a C h ic a g o 1962 S t. L o u is M in n e a p o lis 822 2,619 216 73 895“ 2,835 603 51 260 28 101 1,126 21 14 31 23 24 49 30 23 63 20 11 2 4 15 5 30 1 1 — — — — 175 544 258 801 620 199 1,157 332 2,548 895 257 1,971 164 512 739 786 226 D a lla s San F ra n c is c o o f d o l]L a rs ) 103 1,341 48 Kansas C it y 212 1,027 654 9 255 32 631 48 679“ 17 11 610 1,998 38 648 2,124 18 l4 35 53 9 2 5 — — — — — 515 121 66 206 133 415 !1T 364 1,320 1,158 1,601 2,312 663 5,091 378 545 156 1,200 297 85 654 600 172 126 526 151 -- 397 1,238 1,786 513 3,934 —* 7,517 233 1,731 30,560 1,576 7,750 1,731 2,548 1,971 1,627 5,091 1,200 654 1,320 1,158 3,934 30,713 1,586 7,819 1,733 2,552 1,986 1,632 5,121 1,201 655 1,325 1,167 3,936 5,378 383 1,062 4l8 8o4 24 7 25 627 11 576 4 l4 246 13 86 6 21 271 52 419 14 32 162 9 149 422 5 30 243 3 30 319 3 33 53,350 2,907 12,762 2,971 4,4l6 3,616 3,071 8,956 2,154 1,166 2,335 107 -- -- — 8 -- — -- r- — 28 2,134 76 6,862 11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 5, 1962 Total Boston New York Phila delphia Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco 1,242 570 1,210 877 3,113 631 27 405 25 4 809 928 21 2,908 (In millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U.S. Treasurer-general account Foreign Other Total deposits Cleve land 29,478 17,157 454 177 310 1,739 704 4o 8 1 6,8l4 1,823 2,591 2,4l6 399 755 30 1,309 36 59 1/56 w 18,098 753 241 4,755 4,240 3^3 779 71 51,887 3 2,838 20 12,368 460 22 1,703 5, 380 770 4o 7 917 2,622 6 823 9 1 65 23 943 2,711 303 342 4 3,5^6 16 1 7W~ 1,362 265 322 10 1 4 2,888 5 4,280 16 1 6 * 1 37 7 2 58 9 22 1 w r £ 35“ 855 959 54 3,042 645 194 125 206 213 503 4 2,992 11 8,747 3 2,103 2 3 2,274 3 9 2,052 6,667 25 47 7 65 124 20 16 31 4 11 20 26 50 6 62 120 3 19 37 5 1,132 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign corre spondent s 888 124 243 26 51 ^3 83 27 6 10 4o 9 21 115 42 5 53,350 2,907 12,762 2,971 4,4l6 3,616 3,071 8,956 2,154 1,1.66 2,335 2,134 6,862 70 3 2/19 4 7 3 4 10 2 2 3 4 9 1,240 934 3,242 310 215 900 13 FEDERAL RESERVE AGENTS' ACCOUNTS F.K. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. So Government securities Total collateral 30,598 1,789 7,044 l, 874 2,744 2, 500 1,768 5,508 1,293 7,745 7 23,885 480 -1,390 1,600 465 720 700 485 -1,400 1,400 -4,300 34o * 130 1,010 1,885 5,700 1,350 560 690 1,870 — 5,600 7,200 2 l, 500 -- 2,100 2,820 1,820 2,520 31,637 1,967 l/ After deducting $121 million participations of other Federal Reserve Banks. df After deducting $ 51 million participations of other Federal Reserve Banks ..6S2"' _ - - 5 950 755 2,500 1,265 970 3,4oo * Less than $500,000
@FedFRASER