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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For M e d i a t e release February 23, 19b2 age of daily figures of total member bank reserves held during th week ended February 21 increased a net of $l4 million to $19,534 million. Estimate currency and coin of member banks increased $24 million and their reserve balances at the Federal Reserve Banks decreased $10 million. Estimated required reserves in creased $18 million; and estimated excess reserves decreased $4 million to $493 mil lion. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $421 million, compared with the revised figure of $427 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $513 million in U. S. Government securities bought outright and an increase of $l4l million in "other" F. R. accounts (net). The principal offsetting changes were increases of $605 million in Federal Reserve float and $28 million in U. S. Government securities held under repurchase agreement. Total Reserve Bank credit increased $122 million. As of Wednesday, February 21, holdings of U. S. Government securities bought outright were $145 million lower than a week earlier and member bank borrow ings were $4l million lower. Outright holdings of bills, notes, and bonds aecreasec $85 million, $3.>313 million, and $29 million, respectively, and certificates in creased $3,282 million. The increase in certificates and the decrease in notes largly reflected the February 15 exchange of four issues of notes for $3,306 million of new certificates and $1,500 million of the new issue of 4§- y«agr notes. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended Feb. l4“, Feb.22, Feb. 21, 1962 1962 Wediiesddy Feb. 21, 1962 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright*-System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement Discounts and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding 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) 28,062 28 -513 + 28 46 -- — -- 72 50 1,655 29,913 16,790 5,586 52,289 32,870 447 433 197 274 1,163 35,365 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 16,904 2,630 19,53^ 19,041 493 + 2 -- +605 +122 + 1 + 1 +124 18 1 11 +1,473 - 123 — 28,043 m m m m 45 4 35 + 4l + 329 +1,651 - 595 + 181 + 1,267 118 50 1,319 29,575 16,790 5,537 51,952 32,894 440 464 -+ 22 +141 +133 +1,013 + 23 63 + 25 - 118 + 70 + 951 - 10 + 24 + i4 + 18 - 4 + + + + - 317 172 489 721 16,547 232 422 - 190 265 1,151 357454 2,896 19,443 19,021 On February 21, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,514 million, an increase of $2 million for the week and a decrease of $366 million from the comparable date a for year ago. Digitized FRASER CONSOLIDATED STATEMENT OP CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (la millions of dollars) Feb .21, 1962 _ A S S E T S Gold certificate*"account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bcugjht outright ; Held tinder repurchase agreement Total U. S. Government securities (555) Change since Feb .£2, FebJL*, 1961 1962 15,371 1*1§2 16.523 + 2 2 *88 168 + - 13 *1 + - 656 102 556 - 1*6 2 l * — *5 m m 3,762 28,0*3 -28,0*3 85 + 3,282 -3,313 29 - 1*5 — - 1*5 + 2 - 502 + 737 +1,220 ^7*5? - 115 +173*2 28,256 - 186 +1,191 (1,675) ill 197 50,6*0 - 397 4* X - 153 - 722 + 612 + 2 + 6* +1,311 (555) 27,969 - 27 + 886 16,5*7 + + - 211 17 15 26 5 204 + - - (1,675) 3,7*6 6k *9,2*5 505 1 737 + 571 + 27 +1,212 C A P I T A L A C C O U N T S Capital paid in" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,675) *51 + 888 56 50,6*0 + + + - 1 — 1* 722 2,598 *,955 16,728 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 5,065 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 accured dividends TOTAL LIABILITIES *6* 190 265 17,*66 (1,120) - 75 18 187 272 32 71 * +i,3ii Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol + .25i lowing pages— not consolidated) - 1 .5* 35 .9* Contingent liability on acceptances purchased * no for foreign correspondents 77 * 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, FEBRUARY 21, 1962 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total * Less than $500#000 Discounts and advances 117 51 * 165 --... U. S. Government securities ^ Changes Holdings during week -*,780 *28 3,197 73 +3, *01 11,8*7 10,078 +1,307 — 2,227 *5 266 26,6*3 Acceptances 13 32 w HA.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE RANK ON FEBRUARY 21, 1962 H.k.l(c) STATEMENT CP CONDITION CF EACH FEDERAL RESERVE BANK OH-EEBRUARY 21,. 1962 Total Boston Nev York Phila delphia Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Francisco 1,169 835 2,891 % 976 51 11 * 2 ,606 (in millions of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U. S. Treasurer-general account Foreign Other Total deposits Cleve land 2,296 1,625 5,2k2 1,232 573 861 2,k65 67 612 407 32 28,52^ 1,669 6,596 1,839 2,557 676 26 73k 32 11 2 1,175 13 "I7,k66‘ 711 k,k71 75 1/ 52 213 k,an 779 1,206 k, 866 388 891 303 6k 50,920 3 2,771 16 12,31k 2,925 k5l 888 56 21 k2 2 122 26 13 51 3 52,315 2,836 12,692 3,005 2/ 30 6 1 ,7 3 7 6 ,9 1 1 1 ,9 0 7 2 ,7 3 1 2, 376 1 ,7 0 8 5 ,3 8 9 1 ,2 9 2 651 1 ,2 0 1 907 3 ,0 3 7 525 8 ,1 5 9 -23 2 3 ,0 9 0 [ l ,2 7 0 1 ,6 0 0 — 5 ,6 0 0 530 k 1 ,5 0 0 770 — 2 ,0 5 0 735 — 1 ,6 6 5 k25 — 1, koo 1 ,5 0 0 k, 100 369 9 990 160 — 510 310 10 950 235 — 755 1 ,0 0 0 — 2 ,3 0 0 3 1 ,2 7 2 7 ,2 0 i 2 , 03k 2 ,8 2 0 2 , kOO 1 ,8 2 5 5 ,6 0 0 1 ,3 6 8 670 1 ,2 7 0 990 3 ,3 0 0 16,5k7 k6k 190 265 9 * 4 18 * kix. 19 6 1 538~ 553 8k7 39 8 2 896” 203 138 11 3 8,57k " 2,076 717 2k 9 3 75T W T ‘ 2, 561' 3k7 k03 k 3 2,9k6 6 b, 180 ' 3 ,koo" k2 10 2 26 3 760 k 1 kk 26 1,036 38 2,7l* 253 22k 5k5 2 2 1,157 2,320 3 2, ICO 7 6,157 19 37 3 26 50 3 120 6 2,379 2,179 6,3kk CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral After deducting Digitized l/ for FRASER 5/ After deduct Lug $138 $ Oo no 29,8k 7 ____ 1 ,7 9 5 2k3 2k k7 k 63 12k 10 16 ko 3 31 1 10 20 2 3 ,k6L 3,021 8,771 2,12k 1,189 21 4£-‘ 83. 6k, 311 6 ____ 11. 10. _____ 5FEDERAL RESERVE AGENTS' ACCOUNTS million participations of other Federal Reserve Banks. million participations of other Federal Reserve Banks. k ____ 1 _ ______1- 61 6 ____ 1 1 *Less than $500,000.
@FedFRASER