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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release March 22, 1962 The average of daily figures of total member bank reserves held during the week ended March 21 increased $310 million to $ 19,657 million. Estimated currency and coin of member banks increased $13 million and their reserve balances at the Federal Reserve Banks increased $297 million. Estimated required reserves increased $2 jh million; and estimated excess reserves increased $36 million to $ 5 H million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $378 million, compared with the revised figure of $422 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $194 million in Federal Reserve float, $80 million in member bank borrowings, and $33 million in U. S. Government securities held under repurchase agreement, and decreases of $26 million in "other" F.R. accounts (net) and <pl8 million in currency in circulation. The principal offsetting change was a decrease of $48 million in U. S. Government securities bought outright. Total Reserve Bank credit increased $259 million. As of Wednesday, March 21, holdings of U. S. Government securities bought outright were $109 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $220 million higher, and member bank borrowings were $315 million higher. Outright holdings of bills, notes, and bonds increased $88 million, $9 million, and $12 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 Acceptances--bought 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 Mar. 21, Mar. 14, Mar. 22, 1962 1962 1961 (In millions of dollars) 28,415 72 44 - 48 + 33 - 1 133 65 1,446 30,176 + 16,709 5,586 52,471 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) 33,c48 446 46o 219 224 1,027 35,424 Member bank reserves: With Federal Reserve Banks Currency and coin (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 17,048 2,609 19,657 19,146 511 +1,551 72 3 28,558 248 42 81 378 80 -- +194 +259 + 55 186 - 15 - 4 +241 +1,942 I - 676 177 +1,'444 - 18 + 5 - l - 5 - 10 - 26 - 55 + 1,161 28 46 19 - l4l 8 + 975 +297 + 13 +310 +274 + 36 Wednesday Mar. 21, 1962 + + 65 1,202 30,493 16,710 5,586 52,789 33,001 449 365 197 258 1,029 35,299 470 ; 232 702 695 20,386 19,212 7 1,174 17,489 2,897 On March 21, 1962, U. S. Government securities held in custody by the Fed eral Reserve Banks for foreign account were $5,8-30 million, an increase of ,$!'£? mil lion for the week and a decrease of $. 151 million from the comparable date a year ago. H .4 .1 ( a ) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In m illio n s o f d o l l a r s ) Mar. Illy Mar.21, 1962,, A S S E T S Gold c e r t i f i c a t e account Redemption fund f o r F . R. notes T o ta l gold c e r t i f i c a t e re se rv e s Total loans and securities 1961 •»u 15,291 1 ,1 4 4 I67535 (4 6 3 ) Cash Discounts and advances A cceptances—bought o u trig h t U. S. Government s e c u r i t i e s : Bought o u tr ig h t— B ills C e r t if ic a te s Notes Bonds T o ta l bought o u trig h t Held under repurchase agreement T o ta l U. S. Government s e c u r i t i e s - 3 3 ■»— 426 1*3 42 4- 315 1 - 50 364 3 2 9 ,2 9 1 4- 61+3 +2,408 + 351 + 4* 12 2*8 ( 1 ,1 * 6 ) 5 ,5 3 5 109 336 ( 1 , 606) 5 2 ,1 3 2 (4 6 3 ) + 111 652 23^55 4 ,0 0 8 2^355 L I A B I L I T I E S Fed eral Reserve n o tes D eposits: Member bank re se rv e s U. S. T re a s u re r--g e n e ra l account Foreign Other T o ta l d ep o sits 763 4- 109 4- 220 4- 329 88 4 ,9 7 2 16,868 Cash items in p ro cess o f c o ll e c ti o n Bank prem ises Other a s s e ts TOTAL ASSETS + - + 302 - 446 + 582 +1 ,361 +1,799 + 248 +2,047 4* 2,710 * :e sin ce Mar. 22, 28,016 4- 9 + 12 823 ±1 ,003 + l4l + 2,670 - +1,012 77 + 1,130 - 152 19 - 104; 1 8 ,3 0 9 + 8 lk - 125 _ 18 4**3 4- 7ll* **,333 ____ 69 ( 1, 606) 5 0 ,7 2 7 4* 3**7 k 44* + 6691 + 36 +2,572 C A P I T A L ACCOUNTS 1*53 C ap ital paid in 888 Surplus 64 Other c a p it a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,606) 52,132 -15 17,1*89 365 197 258 Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES (1,11*3) 4" + 1,003 + 855 + + 30 71 * + 2,670 R atio o f gold c e r t i f i c a t e re se rv e s t o d ep osit and F . R. note l i a b i l i t i e s combined (com puted from fig u re s a s shown on the f o l - 2.9$ •5$ lowing p ag es--n o t co n so lid a te d ) 35*1$ Contingent l i a b i l i t y on accep tan ces purchased 72 fo r fo reig n correspondent s 103 * Figu res in p arentheses a re th e elim in atio n s made in th e co n so lid a tin g process^ see comparable fig u re s on combined b a s is on follow ing p ag es. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 21. 1962 (Acceptances and securities held under repurchase agreement are classified as maturing w ithin 15 days in accordance with maximum maturity of the agreements.) D iscounts and advances 3&9 Within 15 days 16 days t o 90 days 39 91 days t o 1 y ear 15 Over 1 y ear t o 5 y ears Over 5 y ears to 10 y e a rs — DigitizedOver for FRASER 10 y ears -http://fraser.stlouisfed.org/ T o tal 353 Federal Reserve Bank of St. Louis U. S. Government securities ~~ Changes Acceptances 11 31 Holdings 95*T .3 ,2 7 6 ——^ 1 0 ,3 5 5 2 ,2 2 7 52 257856 11,722 266 during week +280 +369 -327 + 7 — 4-329 1 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, H.4.1(b) Total Boston New York Phila delphia Cleve land Rich mond 1962 Atlanta Chicago St. Louis Kansas City Minne apolis San Fran cisco Dallas (In millions of dollLars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 15,291 l,l44 16,435 775 68 843 18 28 130 90 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchc.se agreement 443 22 120 4,008 28,558 248 Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 2,710 4,972 16,868 144 265 898 213 1,520 304 27 331 666 49 715 37 645 2,074 105 2,179 34 24 33 35 17 22 76 29 33 78 14 22 18 10 15 12 37 l4 38 62 7 23 13 11 182 33 2 14 6 10 4,127 463 426 -- 532 49 581 608 208 2,765 1,286 102 269 F. R. notes of other Banks Other cash 42 746 68 814 2,557 1,388 1,042 92 1,134 843 70 913 3,858 42 670 1,230 -- —- “— 463 109 200 106 -- -- — 157 230 172 422 1,430 340 2,422 315 1,067 254 1,808 -- 928 2,882 681 220 1,570 -- 685 4,880 -- 162 1,152 -- 287 974 — 149 273 850 362 86 118 217 — 1,152 612 5,062 1,185 5 20 497 l4 19 1,074 24 55 3,496 3,030 9,091 - - 1,649 -- 28,806 1,520 7,311 1,649 2,422 1,808 1,570 4,880 29,291 1,542 7,473 1,656 2,445 1,821 1,581 6,678 520 391 3 19 569 8 28 477 4 109 336 ____ 17 1,244 9 85 2,972 13,158 3,o4o 4,506 53,738 58 735 175 1,245 -- 4,172 991 7,063 248 231 "" 110 202 685 16I 1,160 330 605 2,054 -- 488 3,477 — 1,245 1,160 3,477 6l4 1,259 1,166 3,487 287 7 13 189 5 7 367 6 15 299 13 16 764 11 1 A 42 2,109 1,174 2,389 2,190 6,583 612 H-4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, 1962 Total Boston New York Phila delphia Cleve land Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco 829 2,890 (In millions of dol].ars) 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 Rich mond 6,588 1,828 2,552 2,293 1,619 5,228 1,228 582 1,174 4,945 45 733 20 9 875 2,639 210 5,257 765 23 11 1 800 1,270 31 18 1 10 1 766 912 612 395 9 4 1 409 813 40 8 1 1,320 70 27 1 2,737 598 7 7 * 18,369 720 28 9 * 757 5,476 477 915 328 498 368 420 915 217 149 291 248 650 4 . 69 2,906 52,333 18 12,778 3 2,959 6 4,376 4 3,431 4 2,955 3 8,891 2,060 2 1,142 .... 3 2,330 3 2,110 8 6,395 21 42 3 123 243 14 26 24 47 4 64 124 12 16 10 19 20 37 2 ____ 3 26 51 4 42 83 5 -53*138 2*9I2__ 13*15 8 __3*o4o 4,506 _3*42i -2*030 .-2*0?1 2*109 28,479 1,668 17,489 365 197 ... .258 . 1/5 7 26 11 862 983 2,753 35 31 11 26 1 ....37.. 1,030 2,847 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents 453 888 64 103 ____ L _ 2/28 21 40 ____ 4 _ 10 _____ 5 - _____ L _ 6 14 31 2 6l 120 50 4 ____ 7 1,174 -2*382. . 2^190 -6*583 4 2 4 6 14 / Total collateral 6,879 1,891 2,705 2,391 1,707 5,348 1,287 658 1,206 894 3,034 430 8,035 — 44 23,_2Q5_ 1,365 1,600 770 755 425 1,500 310 215 1,000 • • ... 340 31 160 ~~ 5,600 530 3 1,500 31,284 1,795 7,200 2,033 2,820 0 0 - - VJl 29,730 i,730 ro FEDERAL RESERVE AGENTS’ ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities - - 1,665 l,4oo 4,100 1,010 __ 510 _ 2,420 1,825 5,600 1,381 670 1/ After deducting $l4o million participations of other Federal Reserve Banks. $ 75 million participations of other Federal Reserve Banks. £/ After deducting -- 10 950 1,270 -- — 755 2.300 970 3,300 * Less than $500,000.
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