F E D E R A L R E S E R V EFactors Affecting Bank Reserves and For immediate release Condition Statement of F.R. Banks November 15, 1962

The average of daily figures of total member bank reserves held during the week ended November l5 decreased a net of $171 million to $19,391 million. Estimated currency and coin of member banks increased $118 million and their reserve balances at the Federal Reserve Banks decreased $289 million. Estimated required reserves decreased $217 million; and estimated excess reserves increased $46 million to $597 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4-53 million, compared with the revised figure of $393 million the week before.

The principal changes reducing average reserve balances with Federal Reserve Banks were increases of $329 million in currency in circulation,$13 1 m i l l i o n i n T r e a s u r y d e p o s it s w i t h F e d e r a l R e s e rv e B a n k s , a nd $32 m i l l i o n i n f o r e i g n d e p o s it s w i t h F e d e r a l R e s e rv e B a n k s . T h e p r i n c i p a l o f f s e t t i n g cha nges w e re in c r e a s e s o f $ 90 m i l l i o n i n U . S . G o ve rn m e n t s e c u r i t i e s b o u g h t o u t r i g h t a nd $53 m i l l i o n h e ld u n d e r re p u rc h a s e a g re e m e n t, a n d $53 m i l l i o n i n F e d e r a l R e s e rv e f l o a t , and. a d e c re a s e o f $ 2 ^ m i l l i o n i n " o t h e r " F* R* a c c o u n ts ( n e t ) * T o t a l R e s e rv e B a n k c r e d i t in c r e a s e d $18 2 m i l l i o n .

As of Wednesday, November l4, holdings of U. S. Government securities bought outright were $4 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $197 million lower, and member bank borrowings were $471 million lower.

Averages of daily figuresMember bank reselves, Reserve Bank credit, and related items

Week ended Nov. 14,

1962

Change from week ended Nov. 7, I Nov. 15, 1962 1 1961

Wednesday, Nov. 14,

1962

Reserve Bank credit;U. S. Government securities-- Bought outright--System account

(In millions

30,138 + 90

of dollars)

+1,758 30,123Held under repurchase agreement 240 + 53 + 154 --

Acceptances Bought outright 35 . 5 35Held under repurchase agreement -- * - -

Discounts and advances Member bank borrowings 144 - l4 + 22 96Other 12 + 9 12

Float 1,300 + 53 + n 4 1,552Total .Reserve Bank credit +2B2 +2,051 31,717

Gold stock 15,978 + 1 -1,298 15,978Treasury currency outstanding 5,550 - 5 - 33 5,550

53,396 +178 + 726 53,245

Currency in circulation 34,560 +329 +1,338 35,651Treasury cash holdings 401 - 9 1 5llTreasury deposits with F. R. Banks 523 +131 + 47 567Foreign deposits with F. R. Banks 216 + 32 - 31 233Other deposits with F. R. Banks 309 + 7 + 56 325Other F. R. accounts (net) 798 - 24 - 194 753

36,807 7567 +1,215 36,836Member bank reserves;

With Federal Reserve Banks 16,589 -289 - 595 16,515Currency and coin (estimated) 2,802 +118 + 145 3,258Total reserves held 19,391 -171 - 350 19,673

Required reserves (estimated) 18,794 -217 - 359 18,930Excess reserves (estimated) 597 + 46 + 9 753

*Less than $500,000.On November 14, 1962, U. S. Government securities held in custody by

the Federal Reserve Banks for foreign account were $7,087 million, an increase of $27 million for the week and an increase of $1,083 million from the comparable date a year ago.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.k.l(a) CONSOLIDATED STATEMENT OF CONDITIONOF THE TWELVE FEDERAL RESERVE BANKS

(In millions of dollars)Change since

Nov, lk, Nov. 7, Nov. 15,

.A S E jr SGold certificate account

1962 1962 1961

I**, 1*53 - 28 -l,kk9Redemption fund for F. R: notes 3*233 t 25 + 118Total gold certificate reserves - ' 3 -1,331Cash (335) 333 - 18 - 35Discounts and advances Acceptances:

108 -k71 - 509Bought outright 3k 5Held under repurchase agreement

U. S. Government securities:-- * - 3

Bought outrightBills 2,389 - k - 810Certificates 9,527 -- +7,838Notes 13,92k -- -5,89kBonds k, 283 -- + 639

Total bought outright 30,123 +1,773Held under repurchase agreement -197 - 110

Total U. S. Government securities 30,123 -201 +1,663Total loans and securities 30,265 -672 +l,lk6

Cash items in process of collection (1,07k) 5,723 +9k0 - 81Bank premises 105 -- 6Other assets 6k5 + 23 + 501

TOTAL ASSETS (l,k09) 52,757 +270 + 19kL I A B I L I T I E S

Federal Reserve notes Deposits:

(335) 29,553 +189 +1,361Member bank reserves 16,kl5 -281 - 850U. S. Treasurer--general account k67 +lk2 - 168Foreign 233 + 39 koOther 325 + 6 + ko

Total deposits 17,kko - 9k -1,018Deferred availability cash items (1,07k) k, 271 +228 - 2klOther liabilities and accrued dividends 7k - 2 + 1

TOTAL LIABILITIES (l,k09) 51,338 +321 + 103c a p i t a l a c c o u n t s

Capital paid in k6k + 31Surplus 888 -- + 71Other capital accounts 67 - 51 - 11

TOTAL LIABILITIES AND CAPITAL ACCOUNTS(1,1*09 ) 52,757 +270 + l9kRatio of gold certificate reserves to deposit

and F. R. note liabilities combined (com puted from figures as shown on the following pages not consolidated) 33.1# -.1$ - 3 .1#Contingent liability on acceptances purchasedfor foreign correspondents 83 + 16 - 30* 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 lk, 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 securitiesDiscounts and advances Acceptances Holdings

Changes during week

Within 15 days 10k 8 3,662 - 9116 days to 90 days k 26 1,558 - 9891 days to 1 year - - - - 12,013 - 12Over 1 year to 5 years - - 10,283 Over 5 years to 10 years -- 2, kOO --Over 10 years - - 207

Total 155 35 30,123 -201Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

11.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER l4, 1962

A S S E T S-Gold certificate account Redemption fund for F . R . notes

Total gold certificate reserves

F. R. notes of other Banks Other cashDiscounts and advances Acceptances:

Bought outright U. S. Government securities:

Bought outrightBillsCertificatesNotesBonds

TotalHeld under repurchase agreement

Total U. S. Government securities

Total loans and securities

Cash items in process of collection

Bank premises Other assets

T O T A L A S S E TS

Total Boston NewYorkPhiladelphia.

Cleveland

Richmond Atlanta Chicago

St.Louis

Minneapolis

KansasCity Dallas

SanFrancisco

(in millions of dollars)

14,453 758 3,737 758 1,138 990 803 2,274 634 290 681 539 1,8511,233 69 296 74 103 92 72 223 51 28 53 38 13^

15,686 827 ^,033 832 1,241 1,082 875 2,497 6&T~ 318 73^ 577 1,985

335 19 98 38 12 17 32 25 11 27 12 12 32333 24 52 21 26 22 26 61 17 11 10 12 51

108 10 5 1 3 3 17 32 * * 26 9 2

3^ 34 -- --

2,389 121 590 132 201 157 131 4ll 96 49 97 97 3079,527 484 2,353 525 801 627 520 1,642 380 196 387 387 1,22513,924 707 3,438 767 1,170 917 761 2,399 556 287 5 66 566 1,7904,283 217 1,058 236 360 282 234 738 171 89 174 174 55030,123 1,529 7,^39 1,660 2,532 1,983 1,646 " 5,190 1,263 62l" 1,224 1,224 3,872

30,123 1,529 7,439 1,660 2,532 1,983 1,646 5,190 1,203 621 1,224 1,224 3,872

30,265 1,539 7,478 l,66l 2,535 1,986 1,663 5,222 1,203 621 1,250 1,233 3,874

6,797 4l4 1,3^5 468 525 497 517 1,182 336 204 3^5 255 709105 3 8 3 7 5 14 24 6 4 7 13 11645 32 165 36 56 39 35 105 24 14 26 30 83

54,166 2,858 13,179 3,059 4,402 3,6M 3,162 9,116 2,282 1,199 2,384 2,132 6,745

Loss 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 14, 1962

Total Boston NewYorkPhiladelphia

Cleveland

Richmond Atlanta Chicago

St.Louis

Minneapolis

KansasCity Dallas

SanFrancisco

(In millions of dol]Lars)L I A B I L I T I E SFederal Reserve notes 29,888 1,753 6,973 1,825 2,609 2,480 1,737 5>433 1,264 567 1,209 882 3,156Deposits:Member hank reserves 16,4-15 633 4,421 695 1,181 704 868 2,438 648 420 813 911 2,683U.S. Treasurer-general account 467 22 105 29 27 33 38 36 26 17 25 34 75Foreign 233 10 1/72 13 21 10 12 31 8 5 9 12 30Other 325 1 270 * * 4 1 2 * * 4 1 42Total deposits 17,440 666 4,868 737 1,229 751 919 2,507 682 442 851 958 2,830

Deferred availability cash items 5,345 367 935 413 427 345 425 964 284 156 26l 208 560Other liabilities and accrued

dividends 74 4 19 4 6 5 4 12 3 1 .-..3. 3 10TOTAL LIABILITIES 52,747 2,790 12,795 2,979 4,271 3,581 3,085 8,916 2,233 1,166 2,324 2,051 6>556CAPITAL ACCOUNTS

Capital paid in 464 22 125 26 43 22 25 65 16 11 20 27 62Surplus 888 42 243 51 83 4o 47 124 31 20 37 50 120Other capital accounts 67 4 16 3 .... 5... . 5 .5 11 2 2 ... 3 ... 4 .... 7

TOTAL LIABILITIES ANDCAPITAL ACCOUNTS 54,166 2,858 13,179 3,059 4,402 3,648_. 3,162 . 9,116 2.282 1.199 2.384 2,132 6,745

Contingent liability on acceptances purchased for foreign

2/23correspondents 83 4 5 8 4 4 11 _____ 2_ 2 ____ 3 _ _____5_ 11FEDERAL RESERVE AGENTS' ACCOUNTS

F. R. notes outstanding Collateral for F. R. notes;

31,134 1,813 7,280 1,876 2,763 2,577 1,802 5,578 1,322 656 1,247 931 3,289Gold certificate account 7,730 480 1,600 465 720 775 485 1, 400 340 130 320 215 800Eligible paper 27 1 -- - - - - 26 --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 2,600Total collateral 31,936 1,870 7,4oo 1,966 2,820 2,599 1,885 5,700 1,350 680 1,296 970 3,400

1/ After deducting $l6l million participations of other Federal Reserve Banks. 2/ After deducting $ 60 million participations of other Federal Reserve Banks. * Less than $500,000

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