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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks h .4.i For immediate release February 1, 1962 The average of daily figures of total member bank reserves held during the week ended January 31 decreased $249 million to $19,721 million. Estimated currency and coin of member banks decreased $37 million and their reserve balances at the Federal Reserve Banks decreased $212 million. Estimated required reserves decreased $35 million; and estimated excess reserves decreased $214 million to $484 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $424 million, compared with the revised figure of $654 million the week before. The principal change reducing average reserve balances with Federal Reserve Banks was a decrease of $559 million in Federal Reserve float. The principal offsetting changes were increases of $31 million in U. S. Government securities bought outright and $l6 million in member bank borrowings, and decreases of $278 million in currency in circulation and $15 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $507 million. As of Wednesday, January 31, holdings of U. S. Government securities bought outright were $397 million higher than a week earlier and member bank bor rowings were $l4 million lower. Outright holdings of bills and notes increased $373 million and $24 million, respectively. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright— System account Held under repurchase agreement Acceptance s — b ought outright Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Week ended Change from week ended Feb. 1, Jan. 24, Jan. 31, 1961 1962 1962 (In millions of dollars) 28,310 -46 60 34 1,227 29,678 16,832 5,590 52,100 Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 32,792 451 424 213 296 1,042 35,218 16,882 2,839 19,721 19,237 484 + 31 -- 3 + 1,728 18 Wednesday, Jan. 31, 1962 28,532 -- 2 45 + 16 + 6 -559 -507 - 7 + 1 -513 6 + 25 + 96 4 +17825 - 609 + 188 +1,4o4 79 50 -278 +1,016 + 29 86 l4 97 + 91 + 939 32,764 + 9 - 15 - 7 - 9 - l -301 -212 - 37 -249 - 35 -214 + + + + - 16,872 465 293 906 29,612 16,815 5,584 52,Oil 454 362 229 28b l,o44 35,139 3,014 758 822 19,886 19,272 64 6l4 On January 31, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,403 million, a decrease of $49 million for the week and a decrease of $4o4 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) ______ Change since Jan. 31, 1962 Jan. 24, 1962 Feb. 1, 1961 A S S E T S 15,388 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 1; 154 16,542 (692) 483 129 45 - 25 2 27 + - 694 96 598 4“ 22 - 35 59 1 4 + — 287532 — 28,532 373 -24 + -+ 397 -4- 397 + 508 -7,365 +7,542 +1,277 +1,982 - 125 +i, 837 28,706 + 4oi +1,777 (1,055 ) 4,405 ill 317 (i ,?47) 50,564 - 477 4- 17 + 185 + 3 + 107 +1/439 (692) 27,844 - 107 + 850 16,872 362 229 286 + 367 + - 195 - + + 20 26 166 + 499 94 4 94 315 - 143 6 + 138 + 37 +1,340 3,032 1,680 20,008 3,812 17,749 (1,055 ) 3,499 69 (1,747) 49,181 C A P I T A L A C C O U N T S 448 Capital paid in Surplus 888 Other capital accounts 67 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,74-7) 50,584 + — + - 78 1 4- — + - 13 6k - + 30 71 2 +1,439 + + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol lowing pages--nct consolidated) .1 $ - 2 .3# 35.7$ Contingent liability on acceptances purchased for foreign correspondents 120 + 75 5 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages._____________ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 31. 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 during week Holdings Acceptances advances +4,884 Within 15 days 8 5, 500 78 -4,688 l6 days to 90 days 1,408 37 51 + 188 91 days to 1 year — - 10,380 Over 1 year to 5 years - + 13 8,751 - Over 5 years to 10 years - 2, 227 - Over 10 years - - 266 Total 28,532 + 397 129 45 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 31, 1962 H.4.1(b) Total Boston New York Phila delphia Cleve land Rich mond Atlanta Chicago San Fran cisco St. Louis Minne apolis Kansas City 551 37 588 107 1,898 16 46 45 Dallas (In millions of dol]Lars) 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 cash Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreement 4,126 274 4,4oo 798 70 1,255 104 l,04l 89 768 69 2,691 210 576 49 333 69 934 868 1,359 1,130 837 2,901 625 359 593 50 643 186 105 65 27 58 40 38 31 78 58 483 51 34 39 80 28 23 23 12 14 18 129 6 19 6 10 12 10 20 11 2 16 3 15,6.88 1,154 16,542 692 45 3,032 865 -- 45 750 257 143 196 109 1 } 6k8 2,419 1,849 7,121 1,654 2,429 1,066 i4 9 78 333 4 18 2,774 12,965 2,969 Total U. S. Government securities 28,532 1,342 Total loans and securities 28,706 5,460 111 31? 175 97 -- 1,342 52,311 -- 1,297 247 1,849 «... 4i6 4,948 o43 7,057 TCTAL ASSETS -- 167 92 1,100 210 1,569 -- 143 79 941 179 1,680 20,008 3«812 28,532 Cash items in process of collection Bank premises Other assets -- 1,156 1,696 220 1,648 -- 121 2,419 7,057 1,348 389 4 26 -- -- -- —— 518 123 65 36 429 82 139 77 287 3,419 68 812 651.___ 155 917 1,791 60 14 *•“** 123 376 208 68 813 155. 1,159 — 2,480 473 3,537 . 4,875 -- 1,158 -- -- 174 1,307 *■**■ 1,569 4,875 1,158 612 1,307 1,159 3,537 l,86l 1,579 4,895 1,169 6l4 1,323 1,162 3,551 436 8 28 386 430 14 871 160 290 250 5 7 6 15 13 13 6lC 11 39 4,358 3,473 1,180 2,307 2,090 6,214 6 21 18 24 54 239 7 12 2,995 8,883 2,103 612 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 31, 1962 Total Boston New York Phila delphia Deferred availahility cash items Other liabilities and accrued dividends TOTAL LIABILITIES Rich mond Atlanta Chicago Minne apolis St. Louis Kansas City San Fran cisco Dallas (in millions of dollLars ) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits Cleve land 28,536 1,665 6,554 1,843 2,599 2,308 1,642 5,244 1, 237 569 1,173 842 2,900 l6,872 661 2 4,750 74l 865 1/73 5,139 1,283 902 2,700 5 * Wf 29 9 2 851 31 12 1 96V 2,486 54 29 37 17,7^9 13 1 771 24 7 l £32 18 920 25 11 1 2,635 33 30 2 600 10 * 673 736 34 10 3 783 811 16 1,245 16 422 80 2,606 4,554 367 873 270 379 313 372 729 183 132 222 203 511 69 3 2,708 17 12, 583 4 2,888 6 4,227 4 4 12 2,920 8,685 3 2, 055 2 3,408 1,148 2 2, 248 3 2,012 6,026 122 2^3 17 26 51 4 42 83 6 20 4o 9 24 67 21 42 3 4 63 124 11 15 31 2 10 20 2 19 37 3 50 2 52,311 2,71b 12,965 2,969 4,398 3,473 2,995 8,883 2,103 1,180 2,307 2,090 6,214 120 6 8/33 7 11 9 6 17 4 3 5 7 16 362 229 286 50,908 236 20 2 9 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 448 888 47 26 60 120 8 FEDERAL RESERVE AGENTS' ACCOUNTS 30,077 1,7^0 6,939 1,922 8,309 26 585 -1,235 1,600 970 3 1,5C0 2, 407 1,742 5,434 1,309 655 1,206 920 3,061 739 -5,600 2,050 23,105 1,715 Total collateral 2, 820 2, 450 7,2C0 31,440 1,820 2, 073 other Federal Reserve Banks, 2 f After deducting $ 87 million participations of other Federal Reserve Banks. 475 1,500 369 9 990 160 l, 368 670 1,274 235 -755 990 l, 000 — 510 310 l4 950 F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities -- 2, 746" 770 -- -- l,4oo 1,875 4,100 5,600 -- * L e ss th a n $ .5 0 0 ,0 0 0 . 2 ,3CO 3, ?C 0
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