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 immediate release H.4.1 November 8, 1962 The average of daily figures of total member bank reserves held during the week ended November 7 decreased a net of $217 million to $19,590 million. Estimated currency and coin of member banks decreased $223 million and their reserve balances at the Federal Reserve Banks increased $6 million. Estimated required reserves decreased $38l million; and estimated excess reserves increased $164 million to $6l6 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $458 million, compared with the revised figure of $373 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $195 million in U. S. Government securities bought outright and $152 million held under repurchase agreement, $79 million in member bank borrowings, and decreases of $149 million in Treasury deposits with Federal Reserve Banks and $23 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $228 million in Federal Reserve float and $29 million in gold stock, and increases of $192 million in currency in circulation and $150 million in "other1 F. R. accounts (net). Total Reserve Bank credit increased $195 million. As of Wednesday, November 7, holdings of U. S. Government securities bought outright were $174 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $51 million lower, and member bank borrowings were $360 million higher. Outright holdings of bills, notes, and bonds increased $15 million, $22 million, and $152 million, respectively, and certificates decreased $15 million. Averages of daily figures Member bank reselves, Week ended Change from week ended Wednesday Reserve Bank credit, Nov. 7, Oct. 31, Nov. 8, Nov. 7, and related items 1962 1962 1961 1962 0[n millions of dollars) i Reserve Bank credit: U. S. Government securities— Bought outright— System account 30,048 +195 +1,582 30,127 Held under repurchase agreement 187 +152 + 158 197 Acceptances--bought outright 35 - 1 7 34 Discounts and advances— Member bank borrowings 158 + 79 + 67 567 Other 12 -- + 10 12 Float 1,247 -228 + 117 740 Total Reserve Bank credit 31,686 +195 +1,926 317677 Gold stock 15,977 - 29 -1,314 15,978 Treasury currency outstanding 5,555 + 3 24 5,556 53,218 +159 + 5B8 53,211 Currency in circulation 34,231 +192 +1,264 34,446 Treasury cash holdings 4l0 + 1 - 13 4l2 Treasury deposits with F. R. Banks 392 -149 - 83 325 Foreign deposits with F. R. Banks 184 - 23 - 89 194 Other deposits with F. R. Banks 302 - 9 + 44 319 Other F. R. accounts (net) 822 +150 - 170 819 36,340 +152 + 952 36,515 Member bank reserves: With Federal Reserve Banks 16,878 + 6 - 363 16,696 Currency and coin (estimated) 2,712 -223 + 282 2,844 Total reserves held 19,590 ■^SI? - 81 19,540 Required reselves (estimated) 18,974 -381 - 224 18,844 Excess reserves (estimated) 616 +164 + 143 696 On November 7, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,060 million, a decrease of $77 million for the week and an increase of $1,092 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 Nov. 7, Oct. 3l> Nov. o, 1962 1962 1961 A S S E T S Gold certificate account l4,48l -- -1,408 Redemption fund for F. R. notes 1; 208 - 3 + 100 Total gold certificate reserves 15^59 - 3 ^17308 J7vL Cash (364) 351 - 15 - 25 Discounts and advances 579 +360 + 91 Acceptances— bought outright 34 — 5 U. S. Government securities: Bought outright-- Bills 2,393 + 15 - 969 Certificates 9,527 - 15 +7,838 Notes 13,924 + 22 -5,905 Bonds 4,283 +152 + 639 Total bought outright 30,127 +174 +1,603 Held under repurchase agreement 197 - 51 + 112 Total U. S. Government securities ?o7324 +123 +1,715 Total loans and securities 30,937 +483 +1,801 Cash items in process of collection (1,029) 4,783 -281 + 426 Bank premises 105 — 5 Other assets 622 + 23 + 276 TOTAL ASSETS (1,393 ) 52,487 +207 +1,165 L I A B I L I T I E S Federal~Reserve~notes (364) 29,364 +333 +1,265 Deposits: Member bank reserves 16,696 -125 - 421 U. S. Treasurer--general account 325 -188 - 140 Foreign 194 + 12 - 80 Other 319 + 10 + 50 Total deposits 17,53^ -291 - 591 Deferred availability cash items (1,029 ) 4,043 +150 + 393 Other liabilities and accrued dividends 76 + 1 + 3 TOTAL LIABILITIES (1,393 51,017 +193 +1,070 c a p i t a l a c c o u n t s Capital~paid in- ~ 464 + 1 + 31 Surplus 888 -- + 71 Other capital accounts 118 + 13 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 393) f|>,"487 +207 +1,165 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$ Contingent liability on acceptances purchased for foreign correspondents 67 - 2 - 47 * 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, NOVEMBER 7, 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 527 6 3,753 -169 16 days to 90 days 52 28 1,656 +165 91 days to 1 year ... 12,025 - 52 Over 1 year to 5 years -- -- 10,283 +100 Over 5 years to 10 years -- — 2,400 + 75 Over 10- years -- 207 + 4 Total 579 3* W 5 & +i§3 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE EANK ON NOVEMBER 7, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis C ity cisco (In m illions of do]Pars) A S S E T S Gold certificate account l4,48l 807 3,528 792 1,137 1,050 820 2,397 639 286 6l4 621 1,790 Redemption fund for F . R. notes 1,208 69 287 71 103 93 72 213 51 29 52 38 130 Total gold certificate reserves 15,669 ..876. 3,615 1,240 ■i;i*6"~ 892 “ 2,610 690 315 666 659“ 1,920 F . R. notes of other Banks 364 28 104 49 11 17 32 22 9 30 13 15 3** Other cash 351 26 59 23 26 22 28 62 17 12 10 13 53 Discounts and advances 579 4 72 1 11 4o 14 268 41 * 42 10 76 Acceptances: Bought outright 3** — 34 — — — — — — — — — -- U. S. Government securities: Bought outright— B ills 2,393 121 591 132 201 158 131 405 96 **9 104 97 308 Certificates 9,527 484 2,353 525 801 627 520 1,613 380 196 4l6 387 1,225 Notes 13,924 707 3,438 767 1,170 917 761 2,358 556 287 607 566 1,790 Bonds 4,283 217 1,058 236 360 282 234 725 171 89 187 174 550 Total 30,127 1,529 7,440 1,660 2,532 1,984 1,646 5,101 1,203 B5T“ 1,31** 1,224 3,873T Held under repurchase agreement 197 197 -- — -- — -- -- -- «• — • “ Total U. S. Government securities 30,324 1,529 7.637 1,660 2,532 1,984 1,646 5,101 1,203 621 1,314 1,224 3,873 Total loans and securities 30,937 1,533 7,7*6 l,6 6 l 2,5*6 2,024 1,660 5,369 1,244 621 1,356 1,234 3,9**9 Cash items in process of collection 5,812 44l 1,032 4o4 475 446 458 906 276 209 283 242 640 Bank premises 105 3 8 3 7 5 14 24 6 4 7 13 11 Other assets 622 31 158 35 56 38 34 ...97 24 13 27 29 80 TOTAL ASSETS 53,880 2,938 12,919 3,038 **,358 3,695 3,118 9,090 2,266 1,204 2,362 2,205 6,687 ♦Less than $500,000 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 7, 1962 San Total Boston N Yo e r w k d P e h l i p l h a i ­ a Cl l e a v n e d ­ R m i o c n h d ­ Atlanta Chicago L S o t u . is M a i p n o n li e s ­ Ka C n i s t a y s Dallas F c r i a s n co ­ (in millions of doi:Lars) L I A B I L I T I E S Federal Reserve notes 29,728 1,731 6,928 1,8l4 2,589 2,474 1,733 5,412 1,258 564 1,208 880 3,137 Deposits: Member bank reserves l6,696 715 ^,361 741 1,189 692 887 2,486 672 ^15 851 999 2,688 U.S. Treasurer-general account 325 ^3 33 3 27 29 35 7 17 27 25 2o 51 Foreign 194 10 1/33 13 21 10 12 31 8 5 9 12 30 Other 319 1 259 * 1 4 1 2 * 1 1 1 48 Total deposits 17,534 769 4,686 757 1,238 735 935 2,526 697 448 886 1,040 2,817 Deferred availability cash items 5,072 365 888 380 389 4l0 367 929 258 158 202 199 527 Other liabilities and accrued dividends 76 3 21 4 6 5 4 13 2 l 4 3 10 TOTAL LIABILITIES 52,410 2,868 12,523 2,955 4,222 3,624 3,039 8,880 2,215 1,171 2,300 2,122 6,491 CAPITAL ACCOUNTS Capital paid in 464 22 125 26 ^3 22 25 65 16 11 20 27 62 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts 118 6 28 6 10 9. 7 21 4 2 _____ 5_ 6 l4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,880 2,938 12,919 3,038 ^,358 3,695 3,118 9,090 2,266 1,204 2,362 2,205 6,687 Contingent liability on accept­ ances purchased for foreign corre spondents__________________ 67 3 2/18 4 6 3 4 9 2 2 3 4 9 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,920 1,802 7,208 1,864~ 2,730 2,573 1,800 5,5^5 1,313 652 1,236 932 3,265 Collateral for F. R. notes: Gold certificate account 7,730 480 1,600 465 720 775 485 1,400 340 130 320 215 800 Eligible paper 84 1 4l 42 2,600 U. S. Government securities 24,179 1,390 5,800 1,500 2,100 1,824 1,400 4,300 1,010 550 950 755 Total collateral 31,993 1,870 7,400 1,966 2,820 2,599 1,885 5,700 1,391 680 1,312 970 3,4oo l/ After deducting $ l6l million participations of other Federal Reserve Banks. * Less than $500,000 2/ After deducting $ 49 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis