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FEDERAL RESERVE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release May 24, 1962 The average of daily figures of total member bank reserves held during the week ended May 23 increased a net of $13 million to $19*825 million. Estimated cur rency and coin of member banks decreased $27 million and their reserve balances at ! the Federal Reserve Banks increased $40 million. Estimated required reserves decreased $2$ million; and estimated excess reserves increased $37 million to $522 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $475 million, compared with the revised figure of $421 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $391 million in Federal Reserve float and a decrease of $79 million in currency in circulation. The principal offsetting changes were decreases of $191 million in holdings of U. S. Government securities and $22 million in gold stock, and increases of $62 million in Treasury deposits with Federal Reserve Banks and $136 million in "other" F.R. accounts (net). Total Reserve Bank credit increased $183 million. As of Wednesday, May 23, holdings of U. S- Government securities bought outright were $243 million lower than a week earlier and member bank borrowings were $l42 million lower. Outright holdings of bills decreased $269 million; notes and bonds increased $9 million and $17 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 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) Averages of daily figures week ended Change from week ended May 24, May l6, May 23, 1961 1962 1962 (In millions of dollars) 29,341 -33 -170 - 21 47 - 17 -+391 +183 - 22 - 2 +159 65 1,667 31,153 16,434 5,593 537i 8o — +2,743 55 5 + Wednesday May 23, 1962 29,211 — 32 19 73 359 +3,083 - 969 + 167 +2,231 1,245 60 65 30,626 16,435 5,593 52,655 + 1,326 l 33,291 420 116 619 268 288 1,127 33,327 419 599 237 327 1,132 36,041 - 79 - 4 + 62 + 18 - 15 +136 4* 444- +118 + 1,581 36,013 17,138 + 4o - 27 + 13 - 24 + 37 4> 698 4- 210 4- “ 908 4- 951 16,640 2,977 19,617 19,249 2,687 197525 19,303 522 36 47 57 43 368 On May 23, 1962, U. S. Government securities held in custody by the Fed eral Reserve Banks for foreign account were $5,704 million, an increase of $94 mil lion for the week and an increase of $87 million from the comparable date a year ago.for FRASER Digitized H-4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) May 23, .j a te __ A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reselves May 16, __ 12£g.___ 15,007 1,158 Cash Discounts and advances Acceptances--!ought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 364 138 + - 34 73 5 - 269 17,001 + + - + 377 -1,Oil +2,476 + 663 +2,505 4l +2,464 29,211 - 9 17 243 -243 29,38l - 386 +2,386 619 1 + 68 +2,108 29,211 — (1,121) 4,889 107 (1,521) 51,161 -1,190 -+ 19 -l, 553 (4oo) 28,213 - 88 +1,172 16,64o 619 268 288 - 468 + 254 + 135 + 68 + 6 + 463 + 352 + 22 + 2,009 255 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES - 2,935 5,506 3,769 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 4 142 1 32 Total loans and securities -1,054 + 124 - 930 -— 1.6,165 7v (400) since May 24, 1961 (1,121) (1, 521) C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 521) 17,815 3,644 71 49,743 455 888 75 51,161 + 8 + : - 57 73 592 984 4 -l, 568 + 1 32 + + -+ l4 -1,553 71 4 +2,108 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (com puted from figures as shown on the fol + .4<jo 34.8$ - 3*4# lowing pages--not consolidated) Contingent liability on acceptances purchased 50 for foreign correspondents + 5 113 * 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, MAY 23, 1962 (Acceptances and securities held!'under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances 72 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 51 15 Acceptances 10 22 „ -- 138 32 U . S . Government. securities Changes during week Holdings 5^7 69 5,324 +3,514 -3,714 11,153 + 26 9,764 -2,247 266 29,211 — - 243 H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 23, 1962 To ta l B o s to n New Y o rk P h ila d e lp h ia C le v e la n d (In R ic h m ond m illio n s A t la n ta C h ic a g o S t. L o u is M in n e a p o lis K a n sa s C it y D a lla s San F ra n c is c o o f d o l],a r s ) A S S E T S G o ld c e r t i f i c a t e a c c o u n t R e d e m p tio n f u n d f o r F . R . n o t e s T o t a l g o ld c e r t i f i c a t e r e s e r v e s 15,007 1,158 737 71 16,185 808 F . R . n o te s o f o th e r Banks O th e r cash 1*00 364 17 23 D is c o u n ts and ad van ce s A c c e p ta n c e s : Bought o u t r ig h t U . S . G o v e rn m e n t s e c u r i t i e s : Bought o u tr ig h t— B ills C e rt if ic a te s N o te s Bonds To ta l H e l d u n d e r .r e p u r c h a s e a g re e m e n t 138 6 T o t a l U- S . G o v e rn m e n t s e c u r itie s T o t a l lo a n s a n d s e c u r i t i e s C ash ite m s i n p r o c e s s o f c o lle c tio n B a n k p r e m is e s O th e r a s s e ts T O T A L A S SETS 32 2,935 5,506 17,001 3,769 29,211 -- 152 285 882 196 1,515 811 66 87T ” 13 10 19 19 19 9 14 41 54 3 3 15 8 15 2,859“ WT~ 932 93 975 1,290 1,025 23 30 21 20 60 28 12 71 25 17 32 65 22 5 6 9 9 37 32 727 1,363 4,209 933 7,232 167 313 966 2l4 1,660 - - -- -- 249 466 l,44o 319 2,474 194 363 293 248 902 200 1,926 1,551 1,121 - - «... 156 - 492 923 2,851 632 4,898 ... 1,872 119 640 49 574 50 1,191 99 122 544 36 309 27 330 2,654 2 05 905 70 3,838 273 .4,111 m r - «. *“ •“* i,991 mm 63 128 119 222 371 369 151 81 242 747 l66 687 152 2,149 477 1,166 633 1,283 1,180 3,693 117 220 678 -- 120 -- -- 696 -- 1,233 1,180 3,693 636 1,298 1,188 3,708 176 5 325 271 722 11 29.211 1 .5 1 5 7.2^2 1.660 2.4?4 1.926 . 1 ,5 5 1 4.898 l,l66 .633 29,381 1,521 7,286 1,665 2,48o 1,935 1,560 4,935 1,169 6,010 l,io4 9 381 511 3 15 8 23 15 460 14 14 248 63 4l6 5 982 107 255 4l4 3 l^ 24 4o 6 10 52,682 2,799 12,766 3,081 4,365 3,437 3,017 8,933 2,088 - 6 6 11 1,187 2,352 13 12 2,097 ._________33. 6,560 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 23, 1962 Total Boston Phila delphia New York Cleve land Rich mond Atlanta Chicago St. Louis Minne apolis Kansas City Dallas San Fran cisco (In millions of dol]Lars) 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 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 28,613 1,693 16,640 619 268 288 615 32 13 * 6,643 17,815 £60 4,519 65 1/74 ,..239. 4,897 4,765 375 825 71 _ 4 ___ 17__ 51,264 2,732 12,382 1,823 2,542 2,305 1,623 5,225 1,223 587 1,181 827 2,941 785 49 1,194 52 25 699 37 877 32 14 2, 585 87 37 580 385 35 817 40 902 2,682 108 16 1 851 322 4 1 1 34 9 * 924 2,710 309 390 784 4 2,941 13 8,732 12 1,272 4 752 4l4 6 3,000 4,234 4 3,370 26 42 83 40 1 6 623 * 426 190 l4o 3. 2,039 11 1 48 15 869 1 966 36 39 2,865 240 221 555 3 2,017 ____9 6,370 26 61 120 1 3 1,154 2,293 11 20 2 19 37 __ ... _3 CAPITAL ACCOUNTS 455 21 75 42 4 124 243 17 52,682 2,799 12,766 ?Al Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on accept ances purchased for foreign correspondents .113- 888 _1 _ 21 6 6 64 24 124 47 _____ 5 ____ 13 .3,081 4,365 3A 17 . , 3.,.oil. - A 2 2 3 7 10 ____ £ 51 4 6 16 16 31 2 2,088 ...1,181 -.2,3.52 4 _____ 1_ 5 50 4 2,097 9 6,560 6 _____15_ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral l7 29,877 1,745 6,958 1,893 2,704 2,396 1,693 5,34^ 1,286 , 670 1,215 892 3,081 7,750 15 23,440 450 1,600 530 770 650 425 1,400 900 — 310 12 215 — 340 1 1,010 1,351 160 - - 31,205 - - 1,365 1,815 - - 5,600 7,200 2 1,500 2,032 2,050 1,780 2,820 2,430 After deducting' $194 million participations of other Federal Reserve Banjo;. $ 82 million participations of other Federal Reserve Banks. Digitized for 2/FRASER After deducting ... 1 ,400 1,825 - - 4,100 5,500 — -530 _950_ 690 1,272 — .. 755... 970 *Less than $500,000. — 2.400 3,300
@FedFRASER