H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R A L R E S E R V E Factors Affecting Bank Reserves and , Condition Statement of F.R. Bonks for immediate release October 11, 1962 The average of daily figures of total member bank reserves held^during the veek ended October 10 increased a net of $17^ million to $20,3^5 million- Estimated currency and coin of member banks decreased $180 million and their reserve balances at the Federal Reserve Banks increased $35^ million. Estimated required reserves increased $92 million; and estimated excess reserves increased $82 million to $517 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $473 million, compared with the revised figure of $372 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $600 million in U. S. Government securities bought outright and $122 million held under repurchase agreement. The principal offsetting changes were a decrease of $102 million in Federal Reserve float, and increases of $193 million in currency in circulation, $37 million in Treasury deposits with Federal Reserve Banks, and $26 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $600 million. As of Wednesday, October 10, holdings of U. S. Government securities bought outright were $19 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $20 million lower, and member bank borrowings were $77 million lower. Outright holdings of bills decreased $102 million; notes and bonds increased $53 million and $30 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 10, Oct. 3, Oct. 11, Oct. 10, and related items 1962 1962 1961 1962 "t ![n millions of dollars] Reserve Bank credit: U. S. Government securities-- Bought outright— System account 30,5^6 +600 +2,403 30,457 Held under repurchase agreement 135 +122 + 83 72 Acceptances--bought outright 34 - 1 - 1 35 Discounts and advances-- Member bank borrowings 44 - 19 15 76 Other 12 + 1 + 10 16 Float 1,645 -102 + 388 1,326 Total Reserve Bank credit 32,416 +600 +27H99 31,981 Gold stock 16,067 - 1 -1,283 16,068 Treasury currency outstanding 5,555 + 3 - 10 5,557 54,039 +603 +176o8 53,606 Currency in circulation 34,102 +193 +1.,216 34,252 4i4 Treasury cash holdings 410 + 3 - 7 492 Treasury deposits with F. R. Banks 513 + 37 + 63 Foreign deposits with F. R. Banks 243 + 26 - 18 227 Other deposits with F. R. Banks 314 - 9 - 49 307 Other F. R. accounts (net) 751 - 3 - 301 749 36,332 7258 + 903 36,441 Member bank reselves: With Federal Reserve Banks 17.706 +355 + 701 17,164 Currency and coin (estimated) 2,639 -180 218 2,968 Total reserves held 20,3^5 7175 + 919 20,132 Required reserves (estimated) 19,828 + 92 + 895 19,756 Excess reserves (estimated) 517 + 82 + 24 376 On October 10, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,883 million, an increase o $42 million for the week and an increase of $687 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 10, Oct • 3, Oct. 11, 1962 1962 1961 A S S E T S Gold certificate account 15, 590 - 6 -1,5l8 Redemption fund for F. R. notes 1,200 + 2 + 138 Total gold certificate reserves 15,790 - 5 -1,280 Cash (379) 355 - 25 - 26 Discounts and advances 92 - 72 3 Acceptances— bought outright 35 -- U. S. Government securities: Bought outright— Bills 2,882 -102 - 308 Certificates 9,552 — +7,903 Notes 13,902 + 53 -5,836 Bonds 5,131 + 30 + 558 Total bought outright 307557 - 19 +2,307 Held under repurchase agreement 72 - 20 - 55 Total U. S. Government securities 30,529 - 39 +2,253 Total loans and securities 30,655 -111 +2,250 Cash items in process of collection (996) A, 881 -525 + 292 — Bank premises 107 3 Other assets 690 + 20 + 386 TOTAL ASSETS (1,375) 52,577 ^555 +1,619 L I A B I L I T I E S Federal Reserve notes (379) 29,186 +253 +1,189 Deposits: Member bank reserves 17,l65 -573 + 362 U. S. Treasurer— general account 592 -- - 57 Foreign 227 + 31 - 11 Other 307 - 23 - 15 Total deposits 18,190 -565 + 279 Deferred availability cash items (996) 3,555 -250 + 68 Other liabilities and accrued dividends 70 - 1 - 21 TOTAL LIABILITIES (1,375) 51,001 -563 +1,515 C A P I T A L A C C O U N T S Capital paid "in *“ k62 — + 29 Surplus 888 -- + 71 Other capital accounts 126 + 18 + k TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,375) 52,577 5555 +1,619 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) 33.1$ + •3$ - 3.8fo Contingent liability on acceptances purchased for foreign correspondents 69 + 1 - 53 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figure on combined basis on the following pages.____________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 10, 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 Discounts and Changes advances Acceptances Holdings during week Within 15 days 78 7 717 -37 16 days to 90 days 15 27 5,906 -71 91 days to 1 year - - -- 12,195 +20 Over 1 year to 5 years 10,183 +5l — - - Over 5 years to 10 years - - -- 2,325 + 8 Over 10 years - - -- 203 -- Total 92 35 30,529 -39 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON OCTOBER 10, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis C ity cisco (in m illions of dollars) A S S E T S Gold certificate account. 14,590 694 3,492 827 1,214 1,074 859 2,409 635 321 619 573 1,873 Redemption fund for F . R. notes 1,200 68 279 72 102 96 73 214 51 29 53 38 125 Total gold certificate reserves 15,790 762“ 3,771 899 1,316 1,170 932 2,623 686 350 672 6 ll 1,996 F - R- notes of other Banks 379 31 100 51 14 21 37 19 7 29 13 17 4o Other cash 354 25 55 21 27 22 32 63 17 12 11 13 56 Discounts and advances 92 3 l4 1 3 8 3 40 2 * 6 9 3 Acceptances: Bought outright 34 — 34 — — — “ — — *“ "" “ U- S- Government securities: " Bought o u tright-- B ills 2,882 150 714 156 242 I89 154 491 ll4 58 126 117 371 C ertificates 9,542 4 96 2,365 518 802 625 512 1,626 378 191 415 386 1,228 Notes 13,902 722 3,446 755 1,168 910 746 2,370 550 279 605 562 1,789 Bonds 4,131 215 1,024 224 347 270 222 704 163 83 180 167 532 Total 30,457 1,583 7,549 1,653 2,559 1,994 1,634 5,191 1,205 611 1,326 1,232 3,920 Held under repurchase agreement 72 72 — -- -- -- -- -- — — -- — To ta l U. S. Government securities 30,529 1,583 7,621 1,653 2,559 1,994 1,634 5,191 1,205 6 ll 1,326 1,232 3,920 To ta l loans and securities 30,655 1,586 7,669 1,654 2,562 2,002 1,637 5,231 1,207 6 ll 1,332 l,24l 3,923 Cash items in process of collection 5,877 402 1,073 336 454 448 451 999 267 199 308 245 695 Bank premises 107 3 9 3 8 5 14 24 6 4 7 13 11 Other assets 690 35 179 39 61 39 38 106 25 15 29 33 91 53,852 2,844 12,856 3,003 4,442 3,707 3,l4l 9,065 2,215 1,220 2,372 2,173 6,8l4 TOTAL ASSETS *Less than $500,000- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 10, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis C ity cisco L I A B I L I T I E S (in m illions of dollars) Federal Reserve notes 29, 565 1,738 6,863 1,810 2, 590 2,456 1,711 5, 389 1,248 567 1,206 876 3,111 Deposits: Member bank reserves 17,164 661 4,480 790 1,291 778 918 2,553 659 435 821 971 2,807 U.S. Treasurer-general account 492 34 62 25 42 50 47 54 31 20 44 32 51 Foreign 227 9 1/81 12 19 9 11 28 7 5 8 11 27 Other . .307 * 250 1 1 5 1 2 * * 1 1 ____45 Total deposits 18,190 704 4,873 828 1,353 842 977 2,637 697 460 874 1,015 2,930 Deferred a va ila b ility cash items 4,551 328 705 278 357 334 369 817 216 158 226 197 566 Other lia b ilitie s and accrued dividends 70 4 18 3 6 4 4 11 3 l 4 2 10 TOTAL LIABILITIES 52,376 2,774 12,459 2,919 4,306 3,636 3,061 8,854 2,164 1,186 2, 310 2, 090 6,617 CAPITAL ACCOUNTS C apital paid in 462 22 124 26 43 22 25 65 16 11 20 26 62 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 126 6 30 7 10 9 8 22 4 3 5 7 15 "TOTAL LIABILITIES AND I CAPITAL ACCOUNTS 53,852 2,844 12,856 3,003 4,442 3,707 3, l4l 9,065 2,215 1, 220 2,372 2,173 6,8l4 Contingent lia b ility on accept­ ances purchased for foreign corre spondents 69 i 3 2/19 4 6 3 4 10 2 2 3 4 9 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding :30,769 1,789 7,133 1,863 2,736 2,551 1,776 5,520 1,317 658 1,243 934 3,249 C ollateral fo r F . R. notes: Gold certificate account 7,805 480 1,600 465 720 750 485 1,400 340 130 320 215 900 E ligib le paper 7 -- — * — — — — 2 — 5 — — U. S. Government securities 24,079 1,390 5,800 1,500 2,100 1,824 i,4oo 4,300 1,010 550 950 755 2, 500 Total collateral 131,891 1,870 7,400 1,965 2,820 2, 574 1,885 5,700 1,352 680 1,275 970 3,4oo 1/ After deducting $i46 m illion participations of other Federal Reserve Banks. 50 * Less than $500,000 2/ A fter deducting $ m illion participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis