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 - * «~u. is.i--' * December 27, 196-2 The average of daily figures of total member bank reserves held during the week ended December 26 increased a net of $374 million to $20,325 million. Estimated currency and coin of member banks decreased $67 million and their reserve balances at the Federal Reserve Banks increased $441 million. Estimated required reserves increased $295 million; and estimated excess reserves increased $79 million to $593 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $286 million, compared with the revised figure of $351 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $403 million in Federal Reserve float and $l44 million in member bank borrowings* The principal offsetting change was an increase of $105 million in currency in circulation. Total Reserve Bank credit increased $57^ million. As of Wednesday, December 26, holdings of U. S. Government securities under repurchs.se agreement were $1^5 million higher and member bank borrowings were $69 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 26, Dec. 19, Dec. 27, Dec. 26, and related items 1962 1962 1961 1962 (In millions of dollars) Reserve Bank credit: U. S. Government securities -- Bought outright--System account 30,469 - 4 +1,644 30,489 Held under repurchase agreement 21 + 21 - 27 145 Acceptances-- Bought outright 47 + 2 -- 48 Held under repurchase agreement 27 + 9 + 27 37 Discounts and advances-- Member bank borrowings 307 +144 + 91 247 Other 1 -- 1 l Float 2,846 +403 + 320 2,590 Total Reserve Bank credit 33,737 7574 +2,052 33,557 Gold stock 15,978 -- - 911 15,978 Treasury currency outstanding 5,564 + k 20 5,568 55,279 +579 +1,121 55,103 Currency in circulation 35,471 +105 +1,300 35,572 Treasury cash holdings 395 - 4 26 395 Treasury deposits with F. R. Banks 665 - 4 + 154 602 Foreign deposits with F. R. Banks 210 + 2 + 3 229 Other deposits with F. R. Banks 299 + 22 + 6l 344 Other F. R. accounts (net) 1,026 + 15 80 1,093 38,066 +137 +1,413 38,235 Member bank reserves: With Federal Reserve Banks 17,212 +44i - 294 16,867 Currency and coin (estimated) 3,H3 - 67 + 271 3,299 Total reserves held 20,325 4^74 - 23 20,166 Required reserves (estimated) 19,732 +295 - 56 19,7H Excess reserves (estimated) 593 + 79 + 33 455 On December 26, 1962, U. S* Government securities held in custody by the Federal Reserve Banks for foreign account were $7,152 million, a, decrease of $223 million for the week and an increase of $l,04l million from the comparable Digitized for FRASER date a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) CONSOLIDATED STAt^ffilET OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in ciilMonis of dollars) _______Change since Dec. 26> Dec. 19, Dec. 27, 1962 .196? 1961 A S S E T S Gold certificate account l4, 430 l4 1,026 Redemption fund for F. R. notes 1, 266 + 10 + 107 Total gold certificate reserves 15,6S>6 -----4 - 919 Cash (376) 276 - 11 11 Discounts and advances 248 - 69 - 304 Acceptances: Bought outright 48 + 4 + 1 Held under repurchase agreement 37 + 14 + 34 U. S. Government securities: Bought outright-- Bills 2, 453 -- - 811 Certificates 13,182 -- +11,483 Notes 10,717 — - 9,267 Bonds 4,137 — + 291 Total bought outright 307W -- + 1,696 Held under repurchase agreement 1L5 + 145 - 102 Total U. S. Government securities 30,634 + 145 +17594 Total loans and securities 30,967 + 94 + 1,325 Cash items in process of collection (1,305) 5,606 -1,843 320 Bank premises 104 1 - 6 Other assets 346 - 54 4* 116 TOTAL ASSETS (1,681) 52,995 -1,819 4- 185 L I A B I L I T I E S Federal Reserve notes (376) 30,394 + 105 + 1,362 Deposits: Member hank reserves 16,867 - 246 - 1,017 U. S. Treasurer— general account 602 - 106 + 338 Foreign 229 + 22 - 8 Other (22) 322 + 26 + 55 Total deposits (22) 18,020 - 304 - 632 Deferred availability cash items (1,283) 3,038 -1,64l 639 Other liabilities and accrued dividends 85 + 4 6 TOTAL LIABILITIES (1,681) 51,537 + 97 C A P I T A L A C C O U N T S Capital paid in 467 -- + 22 Surplus 888 + 71 Other capital accounts 103 + 17 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS(i,68l) 52,995 -1,819 155 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) 32.2$ • CVJ • 2.4$ Contingent liability on acceptances purchased for foreign correspondents 84 2 - 4i * 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. DECEMBER 26, 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 244 49 519 + 98 16 days to 90 days 4 36 5,125 +133 91 days to 1 year 11,937 - 86 Over 1 year to 5 years 10,808 - - - - - - Over 5 years to 10 years 2,094 -- - - - - Over 10 years - ... 151 Digitized for FTRoAtSaERl 245 85 30,634 +145 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK "ON DECEMBER 26, I962 ....... ..... ............. San New Phila­ Cleve­ Rich­ S t. 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 14,430 715 3,266 775 1,165 1,028 847 2,620 610 300 659 655 1,790 Redemption fund fo r F . R. notes 1,266 72 303 76 112 100 71 221 53 28 51 4o 139 Total gold certificate reserves 15,696 787 3,569 851 1,277 1,128 918 2,841 328 710 695 1,929 F. R. notes of other Banks 376 27 85 4l 19 25 39 29 15 29 l4 13 40 Other cash 276 22 47 16 20 23 22 48 15 9 9 9 36 Discounts and advances 248 5 39 4 5 48 16 57 13 3 49 9 * Acceptances: Bought outright 48 -- 48 — -- -- -- -- — -- • — — — Held under repurchase agreement 37 — — 37 — — — ^ ** • U. S. Government securities: Bought outright— B ills 2,453 124 630 135 206 153 136 402 99 50 ICO 96 322 Certificates 13,182 669 3,385 726 1,108 821 728 2,160 531 272 537 517 1,728 Notes 10,717 544 2,752 591 901 668 591 1,756 432 221 436 420 1,405 Bonds 4.1T7 210 1.062 228 348 258 228 678 167 85__ 168 .163__ ____5M. Total 30,489 1,547 7,829 1,680 2,563 1,900 1,683 4,996 1,229 628 l,24l 1,196 3,997 Held under repurchase agreement 145 — _ 145 -- -- -- -- -- — -- - - -- Total U. S. Government securities 30.634 1,547 7.974 1,680 2.563 1,900 1,683 4,996 1,229 628 1,241 1,196 3,997 Total loans and securities 30,967 1,552 8,098 1,684 2,568 1,948 1,699 5,053 1,242 631 1,290 1,205 3,997 Cash items in process of collection 6,911 4ll 1,467 422 617 571 464 1,103 272 174 330 248 832 Bank premises 104 3 8 3 7 5 13 24 6 4 7 13 11 Other assets 346 17 89 19 29 21 20 55 13 8 15 15 45 TOTAL ASSETS 54,676 2,819 13,363 3,036 4,537 3,721 3,175 9,153 2,226 1,183 2,375 2,198 6,890 *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 DECEMBER 26, 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 dollars) L I A B I I T T I I § Federal Reserve notes 30,770 1,803 7,245 1,872 2,697 2,534 1,804 5,555 1, 302 580 1,225 909 3,244 Deposits: Member hank reserves 16,867 626 4,590 718 1,250 727 858 2, 562 645 4o8 807 920 2,756 U.S. Treasurer-general account 602 42 92 48 43 53 43 59 25 22 36 49 90 Foreign 229 9 1/91 11 18 9 10 26 6 4 8 11 26 Other 344 2 270 2 1 2 11 3 2 * ..3 1 47 ............. Total deposits 18,042 579" 5,043 779 1,312 791 922 2,650 678 434 854 981 2,919 Deferred availahliity cash items 4,321 264 660 297 385 321 366 727 193 133 231 222 522 Other liabilities and accrued dividends 85 4 23 5 8 5 4 14 .3 2 __ _ 3 . 3 11 TOTAL LIABILITIES 53,218 2,750 12,971 2,953 4,402 3,651 3,096 8,946 2,176 1,149 2,313 2,115 6,696 CAPITAL ACCOUNTS Capital paid in 467 22 125 27 43 22 26 66 16 11 20 27 62 Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120 Other capital accounts Iftt *5 24 s Q ____8 .. .6 17 _ 3 3 .... 5. 19 6 ... TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,676 2,819 13,363 3,036 3,721 3,175 -2/151_ 2.226 1.183 _JL3Z5_ 2,198 _6l82o Contingent liability on accept­ ances purchased for foreign correspondents 84 4 2/23 5 8 4 4 12 3 2 3 _____5. 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 32,071 1,873 7,503 1,934 2,865 2,651 "17B5T 5,710 1,357 673" 1,264 966 3,392 Collateral for F. R. notes: Gold certificate account 7,658 480 1,600 465 670 758 500 1,400 350 130 290 215 800 Eligible paper ll4 — — 4 — 48 - - - - 13 - - 49 - - U. S. Government securities 25,088 1,440 6, COO 1,500 2,250 1,898 1,400 4,500 1,050 550 1,000 800 2,700 Total collateral 32,860 1,920 7,600 1,969 2,920 2,704 1,900 5,900 1,413 680 1,339 1,015 3,500 l/ After deducting $138 million participations of other Federal Reserve Banks. * Less than $500,000 2/ After deducting $ 6l million participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis