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 F'or immediate release H.4.1 November 23, 1962 The average of daily figures of total member bank reserves held during the week ended November 21 increased $250 million to $19,666 million. Estimated currency and coin of member banks increased $56 million and their reserve balances at the Federal Reserve Banks increased $194 million. Estimated required reserves increased $276 million; and estimated excess reserves decreased $26 million.to $539 million. Excess reserves exceeded member bank'borrowings at the Federal Reserve Banks by . $446 million,., compared with the:, revised, figure of $421 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $756 million in Federal Reserve float and decreases of $59 million in Treasury deposits with Federal Reserve Banks_ and^ $23 million in foreign deposits with Federal Reserve Banks. The principal off­ setting changes were decreases of $94 million in U. S. Government securities bought outright and $180 million held under repurchase agreement, and $51 million in member bank borrowings, and increases of $222 million in "other" F. R. accounts (net) and $124 million in currency in circulation. Total Reserve Bank credit increased $431 million. As of Wednesday, November 21, holdings of U. S. Government securities bought outright were $56 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $124 million higher, and member bank borrowings were $31 million higher. Outright holdings of bills decreased $66 million; certificates increased $3,658 million and notes and bonds decreased 109 ail.Lion nones manuring i\ r 15 and $349 million bonds maturing December or 153,658 million of 3-3/8 it certificates maturing,November 15 , 1963. Averages of daily Tigures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 21, Nov. 14, Nov. 22, Nov. 21, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 30,044 - 94 +1,583 30,067 Held under repurchase agreement 60 -180 - 67 124 Acceptances— bought outright 34 - 1 7 35 Discounts and advances-- 127 Member bank borrowings 93 - 51 + 3 Other 12 -- + 10 12 Float 2,056 +756 + 313 2,c44 Total Reserve Bank credit 32,299 +431 +1,834 32,409 Gold stock 15,978 -- -1,212 15,978 Treasury currency outstanding 5,550 -- - 35 5,551 53,827 +431 + 586 53,938 Currency in circulation 34,684 +124 +1,334 34,843 Treasury cash holdings 394 - 7 20 398 Treasury deposits with F. R. Banks 464 - 59 42 310 Foreign deposits with F. R. Banks 193 - 23 - 116 213 Other deposits with F. R. Banks 289 - 20 + 38 262 Other F. R. accounts (net) 1,020 +222 - 124 1,027 37,044 +237 +1,070 37,053 Member bank reserves: With Federal Reserve Banks 16,783 +194 - 482 16,884 Currency and coin (estimated) 2,883 + 56 + 254 3,174 Total reserves held 197666 +250 - 228 20,058 Required reserves (estimated) 19,127 +276 - 170 19,222 Excess reserves (estimated) 539 - 26 - 58 836 On November 21, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $7,106 million, an increase of $19 million for the week and an increase of $1,306 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONSOLIDATED STATEMENT Op CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions ot dollars) Change since Nov. 21, Nov. 14, Nov. 22, 1962 1962 1961 A S S E T S 14,470 + 17 - 1,125 Gold certificate account Redemption fund for F. R. notes 1,238 + 5 + 120 15,708 22 - 1,005 Total gold certificate reserves * Cash (331) 323 10 35 Discounts and advances 139 31 - 238. Acceptances--Bought outright 35 1 5 U. S. Government securities: Bought outright— Bills 2,323 66 - 1,099 Certificates 13,185 +3,658 +11,493 10,626 -3,298 - 9,266, Notes Bonds 3,933 «» 350 + 241 Toted bought outright 30,067 • “15 + 1,369 Held under repurchase agreement 124 124 61 V 1/36H Total U. S. Government securities 30,191 Toted loans and securities 30,365 + 100 + 1,065 Cash items in process of collection (1,153) 6,176 453 + 98O Bank premises 105 6 Other assets 381 ... 264 + 216 TOTAL ASSETS (1.484) 53,058 "301 +\1,21$ L I A B I L I T I E S Federal"~Reserve notes (331) 29,744 + 191 + 1,302 Deposits: 16,884 + 469 - 466 Member bank reserves U. S. Treasurer— general account 310 - 157 - 133 Foreign 213 — 20 + 1 Other 262 - 63 + 48 Total deposits 177669 + 229 - 550 Deferred availability cash items (1,153) ^,132 139 + 368 Other liabilities and accrued dividends ____76 2 1 (1.484) 51,621 "2B3 + 1,119 TOTAL LIABILITIES C A P I T A L A C C O U N T S 464 + 31 Capital~paid in~ 888 -- + 71 Surplus 18 6 85 Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,484) 53,058 •f 301 + 1,215 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) 32.9$ - .2$ - 2.7# Contingent liability on acceptances purchased for foreign correspondents 88 + 5 24 * Figures in parentheses are the eliminations made in the consolidating processj _____see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 21, 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 advances Acceptances Holdings during week Within 15 days 128 11 575 -3,i87 16 days to 90 days 11 24 5,041 +3,483 91 days to 1 year 11,957 - 56 Over 1 year to 5 years 10,627 + 344 1,884 - 516 Over 5 years to 10 years Over 10 years 207 + 68 Total 139 35 30,191 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 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 dollLars) A S S E T S Gold certificate account xk-Mo 770 3,502 794 1,176 1,020 805 2,388 609 314 602 599 1,891 Redemption fund for F. R. notes 1,238 69 296 74 105 97 72 222 51 28 52 38 134 ---ggg— Total gold certificate reserves ”157705“---S3T “37795- ~I728T — 17irr 5TT“ 2,610 660 342 654 “ 637 2,025 F. R. notes of other Banks 331 20 92 33 10 21 37 22 9 27 15 14 31 Other cash 323 24 51 20 24 22 26 58 17 11 10 12 48 Discounts and advances 139 3 5 1 7 3 10 52 * * 23 9 26 Acceptances: Bought outright 35 -- 35 — - - — - — *• **"" U. S. Government securities: Bought outright— Bills 2,323 118 574 128 195 153 127 393 93 48 101 94 299 Certificates 13,185 669 3,256 727 1,108 868 720 2,232 527 272 575 536 1,695 Notes 10,626 539 2,624 585 893 700 581 1,799 424 219 464 432 1,366 Bonds 3,933 200 97.1. 21.7 331 259 215 666 157 81 171 160 505 Total “30,'6Ff'- 17526- 77425"" 17657" 2,527 1,980 1,843 ' 5,090 1,201 620 l,3H 1,222 3 >865 Held under repurchase agreement 124 124 -- -- — -- — — — -- -- -- Total U. S. Government securities 30;191 1,526 7,549 1,657 2,527 1,980 1,643 5,090 1,201 620 l,3ll 1,222 3,865 Total loans and securities 30,365 1,529 7,589 1,658 2,534 1,983 1,653 5,142 1,201 620 1,334 1,231 3,891 Cash items in process of collection 7,329 514 1,491 452 586 531 480 1,220 315 224 382 292 842 Bank premises 105 3 8 3 7 5 14 24 6 4 7 13 11 Other assets 381 19 99 21 36 21 21 57 14 9 16 18 50 TOTAL ASSETS 54,542 2,948 13,128 3,055 4,478 3,700 3,108 9,133 2,222 1,237 2,4l8 2,217 6,898 *Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 1962 San Total Boston New Phila­ Cleve­ Rich­ Atlanta Chicago St. Minne­ Kansas Dallas Fran­ York delphia land mond Louis apolis City cisco (In millions of do.Liars ) L I A B I L I T I E S Federal Reserve notes 30,075 1,766 7,027 1,839 2,630 2,489 1,755 5,^73 1,269 567 1,207 885 3,168 Deposits: Member bank reserves 16,884 695 4,516 742 1,186 753 875 2,463 627 437 835 966 2,789 U.S. Treasurer-general account 310 18 6i 20 36 44 5 23 25 19 23 33 3 Foreign 213 10 1/63 12 19 9 11 29 7 5 9 11 28 Other 262 * 208 * 2 2 1 2 1 * 1 l 44 Total deposits 17,669 723 4,848 774 1,243 808 892 2, 517 660 46l 868 1, Oil 2,864 Deferred availability cash items 5,285 388 846 356 465 330 379 926 241 174 279 236 665 Other liabilities and accrued dividends 76 3 19 5 7 5 4 13 3 2 3 3 9 TOTAL LIABILITIES 53,105 1 2,880 12,740 2,974 4,345 3,632 3,030 8,929 2,173 1,204 2,357 2,135 6,706 CAPITAL ACCOUNTS Capital paid in 464 22 125 26 43 22 25 65 16 11 20 27 62 Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120 Other capital accounts 85 4 20 4 7 6 6 15 2 2 4 ______5> 10 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,542 2,948 13,128 3,055 4,478 3,700 3,108 9,133 2,222 1,237 2,4l8 2,217 6,898 Contingent liability on accept­ ances purchased for foreign correspondents 88 4 2/24 5 8 4 5 12 3 2 4 5 12 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 31,298 1,818 7,313 1,894 2,776 2, 591 1,827 5,605 1,320 654 1,247 947 3,306 Collateral for F. R. notes: Gold certificate account 7,735 480 1,600 465 720 770 485 1,400 350 130 320 215 800 Eligible paper 24 -- -- 1 -- -- -- * -- 23 - “ — — U. S. Government securities 24,524 1,415 6,000 1,500 2,100 1,844 l, 4oo 4,300 1,010 550 950 I5JL- 2,700 Total collateral 32,283 1,895 7,600 1,966 2,820 2,6l4 1,885 5,700 1,360 680 1,293 970 3,500 * Less than $500,000. 2/ After deducting $ 64 million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis