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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March l, 1962 The average of daily figures of total member bank reserves held during the week ended February 28 decreased a net of $l4o million to $19,439 million. Estimated currency and coin of member banks increased $43 million and their reserve balances at the Federal Reserve Banks decreased $183 million. Estimated required reserves de creased $87 million; and estimated excess reserves decreased $53 million to $480 mil^ ° ai* ®xcess reserves exceeded member bank borrowings at the Federal Reserve Banks by $424 million, compared with the revised figure of $46l million the week before. The principal changes reducing average reserve balances with Federal Re- - serve Banks were decreases of $315 million in Federal Reserve float and $28 million in U. S. Government securities held under repurchase agreement, and increases of $37 million in Treasury deposits with Federal Reserve Banks and $30 million in for eign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $223 million in U. S. Government securities bought outright. Total Re serve Bank credit decreased $135 million. As of Wednesday, February 28, holdings of U. S.. Government securities bought outright were $317 million higher than a week earlier and member bank borrow ings were $44 million lower. Outright holdings of bills, certificates, notes, and bonds increased $232 million, $17 million, $44 million, and $24 million, respectively. Member bank re se rv e s , Reserve Bank c r e d it , and r e la te d item s Averages of daily figures Week ended Change from week ended Feb. 28, Feb. 21, Mar. 1, 1962 1962 1961 Wednesday Feb. 28, 1962 (In millions of dollars) Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s - Bought o u trig h t--S y ste m account Held under repurchase agreement A cceptances- Bought o u trig h t Held under repurchase agreement Discounts and advances- Member bank borrowings Other F lo a t T o tal Reserve Bank c r e d it Gold stock Treasury curren cy outstanding Currency in c ir c u la tio n Treasury cash holdings Treasury d ep o sits with F . R. Banks Foreign d ep o sits with F . R. Banks Other d ep o sits with F . R. Banks Other F . R. accounts (n e t) Member bank r e s e r v e s : With Fed eral Reserve Banks Currency and coin (e stim a te d ) T o tal re se rv e s held Required re se rv e s (e stim a te d ) Excess re se rv e s (e stim a te d ) J ■-A +1,664 85 28,360 3 44 - 16 + 2 -315 -135 — + 2 ^135 + 6 + 43 + 46 +1,669 - 583 + 183 + 1,269 74 65 1,385 + 1,087 + 4 6l + 28 - 115 + 63 +1,006 32,863 35,434 - 15 - 6 + 37 + 30 + 11 - 7 + 49 16'721 -183 2,718 19,^39 + 43 -l5o - 87 - 53 + + + + - 263 162 16,808 2,889 19,697 19,065 632 28,285 -- 45 56 52 * i,34o ~29,77S 16,790 5,588 52,155 32,855 44i 470 227 285 1,156 18,959 48o +223 - 28 - 1 — 2 425 624 199 29/928 16,790 5,585 52,303 439 449 204 389 1,151 35,495 On February 28, 1962, u. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,432 million, a decrease of $82 million for the week and a decrease of $430 million from the comparable date a year http://fraser.stlouisfed.org/ ago. Federal Reserve Bank of St. Louis 11. 4 . 1 ( a ) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Feb. 28, 1962 Aii SD SO EUjTiSO Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS? 1962 (l,104) 1961 + - 649 104 545 480 139 44 - 8 - 29 - 1 + 18 83 2 2,830 4,972 16,772 3,786 +232 28, ’ 360 + 17 + 44 + 24 +317 + 234 - 485 + 716 +1,228 +1,693 187360 +317 +1,693 28,543 +287 +1,774 5,022 + + + 432 — (1,650) 214 50,897 - 43 - 3 + 17 +257 (546) 27,937 - 32 + 959 16,808 +26l - 15 + 14 +124 +384 + + 591 43 7 35 -109 + 28 + 34 +1,613 108 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer— general account Foreign Other Total deposits 449 204 389 177650 (1,650) 3,637 ... 65 49,489 + 1 +244 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACC0UNTS(l, 650) 451 888 69 50,897 — — + 13 +257 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES _ 9 2 7 15,380 1,150 16,530 (546) ___ Change since Feb. 21, Max', (1,104) + 6k + 1,707 + 592~ + + 30 71 7 +1,707 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol - 2.4# -.2$ lowing pages--not consolidated) 35 -7# Contingent liability on acceptances purchased 65 for foreign correspondents + 3 113 * 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 28, 1962 (Acceptances and securities held under repurchase agreement are classified as maturing w ithin 15 days in accordance with maximum maturity of the agreements.) Discounts and advances Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 y ears Over 5 y ears to 10 y ears Over 10 years http://fraser.stlouisfed.org/ T o tal Federal Reserve Bank of St. Louis 73 1+9 17 Acceptances 11 33 -- — 139 m r U. S. Government s e c u r i tie s Changes Holdings during week 426 - 2 3,320 +123 12, o4 o +193 10,081 + 3 -2 ,2 2 7 — 266 28,360 +317 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 28, 1962 T o ta l New York Boston P h ila delphia Cleve land R ich A tlan ta Chicago mond St. Louis Minne a p o lis Kansas C ity San Fran c is c o D allas (in m illio n s o f d o lla r s ) A S S E T S Gold c e r t i f i c a t e account Redemption fund f o r F . R. notes T o ta l gold c e r t i f i c a t e re selves' 15,380 1,150 16,530 648 68 716 4,178 273 4,451 774 71 845 1,187 103 F . R. notes of o th er Banks Other cash 546 48o 26 31 149 102 D iscounts and advances A cceptances: Bought o u trig h t U. S . Government s e c u r i t i e s : Bought o u tr ig h t-B ills C e r t if ic a te s Notes Bonds T o ta l Held under repurchase agreement 139 5 26 44 2,830 1,096 790 69 605 335 27 362 653 50 703 603 1,976 37 640 2,082 20 25 18 12 14 13 4l 17 44 59 17 11 2 27 4 18 483 114 200 677 153 l,i44 61 115 345 360 81 608 123 217 2,535 209 50 1,290 87 1,183 859 2,744 655 44 31 46 4o 23 30 78 35 43 85 6 10 9 4 240 422 1,422 156 273 922 208 850 44 700 1,230 163 287 4,148 936 7,014 969 219 1,638 321 179 315 l,06l 24o 28,360 151 265 893 201 1,510 2,405 1,795 1,559 2,866 647 4,846 T o ta l U. S. Government s e c u r i t i e s 28,360 1.510 .7,014 1,-633 2,405 1,795 1,559 4.846 1.144 T o ta l loans and s e c u r i tie s 28,543 1,515 7,084 1,644 2,415 l,8o4 1,563 4,863 6,126 108 1,193 9 52 393 3 13 545 214 472 3 11 8 19 399 5 13 455 14 13 52,547 2,774 13,040 2,973 4,363 3,457 3,017 Cash item s in p rocess of c o lle c tio n Bank prem ises Other a s s e ts TOTAL ASSETS 4,972 16,772 3,786 106 165 1,236 202 681 154 1,152 "3,453 608 1.2^6 1.152 3.45R 1,155 610 1,263 1,156 3,471 978 24 35 260 172 7 9 5 4 321 6 10 289 13 9 649 11 26 8,772 2,131 1,183 2,330 2,165 6,342 10 6 731 605 2,o42 46i STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON H-4.l(c) Total Boston New York Phila delphia Cleve land Rich mond FEBRUARY 28, 1962 Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco (in millions of dollars) L I A B I L I T I E S 28,483 1,668 6,576 1,832 2,550 2,300 1,627 5,228 1,231 573 1,173 830 2,895 16,808 449 615 26 9 1 651 *771 39 66 330 5,206 730 6 6 753 1,211 26 18 1 1,256 730 51 9 3 793 873 42 10 1 926 2,502 50 26 3 2,581 6l4 33 6 1 654 *15 21 4 1 44l 806 39 8 2 855 961 45 11 1 1,018 2,580 71 26 39 2,716 386 4,7*1 65 3 51,139 2,708 859 17 12,658 303 420 386 2,892 6 4,232 3 2,9*2 752 11 8,572 195 135 2 2 2,082 1,151 240 h 295 4 3,392 235 2 2,085 535 8 6,154 3 122 243 17 26 51 4 42 83 6 21 4o 4 24 *7 4 63 124 13 26 50 4 61 120 7 52,5*7. '2,77* 13,0*3 2,973 * 363 3,*57 3,017 8,772 2,165 6,3*5 31 6 11 5 6 16 Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 389 17,850 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 20k ll 3 2,271 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign corre spondent s ^51 888 69 113 21 k2 5 16 31 2 10 19 20 37 2 ____1_ 2,131 1,183 4 2,330 3 5 6 ___ il_ FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total.collateral After deducting Digitized1/ for FRASER http://fraser.stlouisfed.org/ 2/ After deducting Federal Reserve Bank of St. Louis $138 29,830 1,732 6,903 8,035 35 23,205 31, 275 430 -1,365 1,600 1,795 5,600 7,200 1,908 2,724 2,383 1,708 5,386 1,291 651 1, 201 530 2 1, 500 2, 032 770 -2,050 2, 820 735 -- 425 1,500 340 160 Q 1,665 i.4oo l, 825 — 4. ico 1.010 SIC 5,600 1,359 670 310 24 - .950 1,284 2, 400 million participations of other Federal Reserve Banks. $ 82 million participations of other Federal Reserve Banks. 904 235 — ..,-255— 990 3,039 1,000 — 2. R00 3,300
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