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. Banks For imediate release H.4.1 October 25, 1962 The average of daily figures of total member bank reserves held during the week ended October 24 increased $68 million to $20,371 million. Estimated currency and coin of member banks increased $37 million and their reserve balances at the Federal Reserve Banks increased $31 million. Estimated required reserves increased $69 million; and estimated excess reserves decreased $1 million to $483 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $427 million, compared with the revised figure of $413 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $450 million in Federal Reserve float and decreases of $l4l million in currency in circulation, $33 million in "other" F. R. accounts (net), and $21 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $454 million in U. S. Government securities bought outright and $95 million held under repurchase agreement, and an increase of $39 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $113 million. As of Wednesday, October 24, holdings of U. S. Government securities bought outright were $360 million lower than a week earlier and member bank borrowings were $16 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 24, Oct. 17, Oct. 25, Oct. 24, and related items 1962 1962 1961 1962 (]En millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright— System account 29,931 -454 +2,140 29,833 Held under repurchase agreement -- - 95 - 28 -- Acceptances--bought outright 35 + 1 3 34 Discounts and advances— Member bank borrowings 56 - 15 + 1 145 Other ll - - + 9 11 Float 2,083 +450 + 453 1,524 Total Reserve Bank credit 32,116 -113 +2,572 31,547 Gold stock 16,052 - 15 -1,250 16,018 Treasury currency outstanding 5,551 -- 21 5,-552 53,718 -129 +1,300 53,117 Currency in circulation 34,115 -l4l +1,266 34,043 Treasury cash holdings 398 + l* - 16 410 Treasury deposits with F. R. Banks 519 + 39 + 33 495 Foreign deposits with F. R. Banks 211 - 3 - 38 217 Other deposits with F. R. Banks 315 - 21 + 47 297 Other F. R. accounts (net) 684 - 33 - 307 688 36,242 -159 + 985 36,150 Member bank reserves: With Federal Reserve Banks 17,476 + 31 + 314 16,967 Currency and coin (estimated) 2,895 + 37 + 232 3,183 Total reserves held 20,371 + 68 + 5i6 20,150 Required reserves (estimated) 19,888 + 69 + 611 19,861 Excess reserves (estimated) ^83 - l 65 289 * October 17 figure revised. On October 24, 1962, U. S. Government securities held in custody by t-he Federal Reserve Banks for foreign account were $7,171 million, an increase of $92 million for the week and an increase of $1,022 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. 2k, Oct. 17, Oct. 25, 1962 1962 1961 A S S E T S Gold certificate account Ik, 526 - 52 -1,1*10 1,208 1* + 116 Redemption fund for F. R. notes Total gold certificate reserves 15,73** - 56 '-i;29'I* •X* Cash (1*76) 368 + 1 - 36 Discounts and advances 156 - 16 - 92 Acceptances--bought outright 3** — 3 U. S. Government securities: Bought outright-- 2,258 - 360 - 655 Bills Certificates 9, 51*2 -- +7,893 13,902 -5,81*5 Notes -- Bonds k,l3l -- + 535 Total bought outright 29,833 - 360 +1,928 Held under repurchase agreement - - — - 52 Total U. S. Government securities 29,833 - 360 +1,876 Total loans and securities 30,023 - 376 +1,781 Cash items in process of collection (1,157) 5,235 -1,079 + 559 l* Bank premises 106 • - Other assets 718 + 11 + 1*08 TOTAL ASSETS (1,633) 52,181* -l, i*99 +1, i*li* L I A B I L I T I E S Federal Reserve notes (476) 28,985 - ikk +1,237 Deposits: Member "bank reserves 16,967 - 528 - 2l*2 U. S. Treasurer--general account 1*95 + 16 + 111 Foreign 217 + ll - 25 Other (**) 297 - 25 + 21 Total deposits (**) 17,976 - 526 - 135 Deferred availability cash items (1,157) 3,711 - 8l*o + 2ll+ Other liabilities and accrued dividends ____72 7 + 2 TOTAL LIABILITIES (1,633) 50,7^ -1,517 +1,318 C A P I T A L A C C O U N T S Capital paid in U63 + 1 + 30 Surplus 888 -- + 71 Other capital, accounts 89 + 17 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,633) 52,18** -l, i*99 +1, i*li* 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«2$ + «3$ ~ 3*6$ Contingent liability on acceptances purchased for foreign correspondents 68 -- 51 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages._____________ MATURITY DISTRIBUTION OF LOAHS AND SECURITIES, OCTOBER 2k, 19.62 (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 ll*2 8 388 - 56 16 days to 90 days ll* 26 i*,6oo -ll*l* 91 days to 1 year — — 12,131* -160 Over 1 year to 5 years — 10,183 Over 5 years to 10 years — 2, 325 Over 10 years - - -- 203 -- Digitized for F T R o A t SE a R l 155 35 29,833 73S0 http://fra*s*e r.sLtelosuissf edt.ohrag/n $500,000. Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 24, 1962 San New Phila­ Cleve­ Rich­ St. Minne­ Kansas Total Boston Atlanta Chicago Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of do]Liars) A S S E T S Gold certificate account 14,526 728 3,544 790 1,176 1,027 819 2,450 604 296 631 600 1,861 Redemption fund for F. R. notes 1,208 69 287 72 104 95 72 214 51 29 52 38 125 Total gold certificate reserves 15,734 797 3,631 852“ 1,286 “ 1,122 891“ 2,664 553— 553 635“ 1,986 F. R. notes of other Banks 476 38 132 61 18 30 44 27 12 29 13 21 51 Other cash 368 27 6l 22 28 23 31 64 17 12 11 14 58 Discounts and advances 156 3 24 2 11 17 12 29 * * n n 36 Acceptances: Bought outright 34 -- 34 — — -- — — — -- — — ** “ U. S. Government securities: Bought outright— Bills 2,258 111 563 122 190 147 123 382 89 46 99 92 294 Certificates 9,542 469 2,383 519 802 620 520 1,616 378 191 415 386 1,243 Notes 13,902 683 3,472 756 1,168 904 757 2,355 550 279 605 562 1,811 Bonds 4.ru 203 1.032 225 347 268 225 700 163 83 180 167 538 Total 29,833 1,466 7,450 1,622 2,507 1,939 1,625 5,053 1,180 599 1,299 1,207 3,866 Held under repurchase agreement -- -- -- -- -- — -- -• -- Total U. S. Government securities 29.833 1.466 7.450 1,622 2,507 _!,_939 1,625 5,053 1,180 599 1,299 1,207 3,886 Total loans and securities 30,023 1,469 7,508 1,624 2,518 1,956 1,637 5,082 1,180 599 1,310 1,218 3,922 Cash items in process of collection 6,392 475 l,24l 365 502 486 455 1,047 288 219 327 291 696 Bank premises 1C6 3 9 3 7 5 l4 24 6 4 7 13 11 Other assets 718 36 187 4o 64 38 ..,32_ 110 27 16 31 35 95 TOTAL ASSETS 53,817 2,845 12,969 2,977 4,417 3,660 3,H1 9,018 2,185 1,204 2,382 2,230 6,819 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

F. R. notes outstanding 30,831 1,791 7,165 1,868 2} jk k 2, 557 1,778 5,533 1,309 656 1,239 932 3,259 Collateral for F. R. notes: Gold certificate account 7,810 i+80 1,600 bG5 720 755 J+85 1, kCO 3k0 130 320 215 900 Eligible paper 12 -- -- l -- -- -- — — - 11 U* S. Government securities 059 1,370 5,800 1, 500 2,100 1,82k 1, kCO k, 300 1,010 550 950 755 2. 500 2 b , Total collateral 31,881 1,850 7, kCO 1,966 2,820 2, 579 1,885 5,700 1,350 680 1,281 970 3, kco l) After deducting $15k million participations of other Federal Reserve "BDamnks. * Less than $500,000 2/ After deducting $ b9 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis