H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release E . U .I OF THE FEDERAL RESERVE SYSTEM January 26, 19ol WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member "bank reserves held during the week ended January 25 increased a net of $136 million to $19, U30 million. Cash allowed as reserves decreased $77 million and member hank reserve balances at the Federal Reserve Banks increased $213 million. Estimated required reserves decreased . $18 million; and estimated excess reserves increased $154 million to $947 million. Excess reserves exceeded member hank borrowings at the Federal Reserve Banks by $900 million, compared with the revised figure of $758 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $211 million in Federal Reserve float and a decrease of $323 million in currency in circulation. The principal offsetting changes were decreases of $l46 million in Federal Reserve holdings of U. S. Government securities.and $104 million in gold stock, and an increase of $98 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $7% millipn As of Wednesday, January 25, holdings of U» S. Government securities bought outright were $164 million lower than a week earlier and member bank borrowings were $2 million higher. Outright holdings of bills, certificates, notes, and bonds decreased by $133 million, $10 million, $13 million, and $8 million, respectively. All securities sold had maturities of less than ono yoarr /j'jfncniAj t ETri-d I- fc><j St&jri }iti Se a.-). On $ £>./>& 101^ ^ Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 25, Jan. 18, Jan. 27, Jan. 25, 'and related items 1961 1961 I960 1961 - (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,821 -127 +1,371 26,747 Held under repurchase agreement - 19 Acceptances--bought outright 49 - 2 + 7 ""47 Loans, discounts, and advances— Member bank borrowings 47 + 12 - 726 59 Other 10 + 1 + 7 9 Float « 1,619 +211 + 516 1,006. +1,175 277B5T Total Reserve Bank credit « 28, 5^5 Gold stock 17,U90 -io4 -1,964 17,450 Treasury currency outstanding 5» 402 + l + 87 5,401 • 51,437 - 29 - 702 50,719 Currency in circulation 31# 964 -323 + 31^ 31,801 Treasury cash holdings Ul7 + 5 7 428 Treasury deposits with s F. R. Banks 507 - 21 - 12 513 Foreign deposits with F. R. Banks 245 - 3 + 28 251 Other deposits with F. R. Banks ' 487 + 98 + 155 402 Other F. R. accounts (net) 942 * 2 + 106 942 - 3575S3 -241 + 585 3EJ3W Member bank reserves: With Federal Reserve Banks 16,875 +213 -1,286 16,373 Cash allowed as reserves (estimated) 2,555 -77 +2,240 2,744 Total reserves held 19,430 +135 + 954 19,117 Required reserves (estimated) 18,483 - 18 + 409 18,481 Excess reserves (estimated) 9^7 +154 + 5^5 636 On January 25, 1961, U. S. Government securities held in custody by the " Federal Reserve Banks for foreign account were $5,724 million, an increase of $107 million for the week and an increase of $1,252 million free the comparable date a ~ year ago.

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 25, Jan. Id, Jan. 27, 1961 196.1 I960 A S S E TS 16,090,642 54,999 -2,100, 000 Gold certificate account Redemption fund for F. R. notes 1,059,811 2,634 + 85,951 Total geld certificate reserves I7A50T%53 57,633 -2,014,049 720,4l8 55,472 + 11,377 F. R. notes of other Banks 498,882 41,968 + 1,399 Other cash 68,175 1,970 - 384,222 Discounts and advances Acceptances - -bought outright 46,895 1,208 + 6,309 U. S. Government securities: Bought outright— Bills 2,694,573 132,900 +1, 260,028 Certificates 9,049,743 10,000 -1,457,250 12,467,798 13,500 +1,457,500 Notes 8,000 + 51,300 2,535,071 Bonds Total bought outright 26,747,185 164, 400 +1, 311, 578 Held under repurchase agreement 26,747,185 - 164,400 +1,311,575 Total U. S. Government securities Total loans and securities 26,862, 255 - 163,638 + 933,665 15 Due from"foreign banks Cash items in process of collection 5,325,039 -1,188,959 - 136,642 107,972 + 241 + 7,127 Bank premises 271,369 + 16,642 - 65,299 Other assets 50,956,403 -1,295,907 -1,262,422 TOTAL ASSETS L I A B I L I T I ES 27,747,160 - 209,127 + 176,055 Federal Reserve notes Deposits: Member bank reserves 16,372, 598 - 335,080 -1,237,259 U. S. Treasurer—general account 513,246 + 131,260 - 97,715 260,956 + 20,298 + 32,865 Foreign 401,827 + 14,891 + 62,l68 Other Total deposits 17,5 4b,"527 - 16b,631 -1,239,9^1 Deferred* availability cash items 4,319,268 - 936,003 - 247,129 Other liabilities and accrued dividends 33/734 + 588 + 7,302 TOTAL LIABILITIES 49,648,7S9 -1,313,173 -1,303,713 C A P I T AL ACCOUNTS 415,656 + 1,955 25,858 Capital paid in 817,423 42,615 Surplus Other capital accounts 54,535 + 15,311 27,182 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,936,403 -1,295,907 1,262,422 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 37.9# 3.4# Contingent liability on acceptances purchased for foreign correspondents 213,055 6,860 89,457 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 25, 196l (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 Discounts and advances Acceptances securities 573,300 • Within 15 days "157155 16 days to 90 days 10,010 29,228 4,937,466 9,113,415 91 days to 1 year 10,673,147 Over 1 year to 5 years 1,178,574 Over 5 years to 10 years 271,263 Over 10 years Total Wi75 46,895 26,747,105

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAKK PIT JANUARY 25, 1961 E.4.1(b) St. Minne- Kansas Can Total I Bosto'n New York | J ^ j J l Sd |RichBLOnd [Atlanta | Chicago Louis apolis City Iallas 1Francisco (In thousands of dollars) A S S E TS 641,720 4,291,138 913,533 1324,240 948,096 754,631 2828,189 652,441 301,339 732,502 661,824 2040,989 16,090,642 ©old certificate account Redemption fund for 61,436 250,594 64,648 92,727 86,326 62,353 187,099 46,220 25,787 48,894—32,405—101,322 F. E. notes 1.059,811 Total gold certificate 703,156 4,541,732 978,181 l4l6,967 1034,422 816,984 3015,288 698,661 327,126 781,396 694,229 2142; 311 reserves 17,150>53 F.R. notes of other Banks 720,418 69,613 172,747 55,148 50,753 45,279 85,475 68,756 24,888 23,009 17,525 34,098 73,127 Other cash 498,882 34,303 101,744 22,392 42,390 32,214 34,743 82,195 26,738 10,087 17,897 17,017 77,162 2,922 6,484 5,192 16,509 8,406 2,657 3,982 672 1,098 Discounts and advances 68,175 2,491 8,365 9,197 Acceptances: Bought outright 46,895 46,895 U. S. Govt, securities: Bought outright— Bills 2,694,573 Certificates 9,049,743 11 € 1 I I I I 1 1 I I I I I I I I I I II il Notes 12,467,798 Bonds _&53&071 i g g »3 1 % ; ;; k^.99, <&*» llto,016 1077,911 31*3. Total 25,747,185 Held under repurchase agreement 1437,394 6,671,604 1531,437 2298,038 1692,963 1466,575 4577,995 I08l,04i 620,668 Il48,0l6 1077,911 3143;%43_ Total U. S. Govt, sees. 26,747,18$ 1439,885 6,726,864 1540,634 2300,960 1699,447 1471,767 4594,504 1089,447 623,325 1151,998 1078,783 3144,641 Total loans & securities 26,862,255 1 1/4 1 11 1 2 (2) (2) 1 1 2rue from foreign banks 15 Cash items in process of collection 5,325,039 IS " 3S -SS •5S •SS 5: IE 11 11 1;£ Bank premises 107,972 Other assets 271,369 2666,505 12,71]) '183- 2938,311 4286,090 3203,133 2856,631 8622,307 2081,944 1150,991 2291,232 2103,447 60227329- TOTAL ASSETS 50,936,403 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500.

E.4.1(c) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 2%, 196l Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Delias Francisco (in thousands of dollars) L I A B I L I T I ES 27,747,160i1602,437 6,474,348 1827,887 2524,319 2127,462 1589,564 5186,053 1202,350 588,019 1127,890 816,921 2679,910 Federal Reserve notes Deposits: 592,015 4,643,719 717,967 1206,516 659,966 791,757 2461,948 613,352 369, o4o 811,572 943,017 2561,729 Member bank reserves 16,372,598 29,313 54,428 31,383 33,075 40,851 31,103 67,362 36,525 29,031 36,577 56,154 67,444 U.S.Treas.-gen.acct. 513,246 12,593 1/75,916 14,906 23,901 11,822 13,621 36,237 8,738 5,9H 11,051 14,906 31,354 Foreign 260,956 Other 401,827 1,666 "332,132 2,231 l,5H 3,022 1,464 2,913 456 234 1,102 520 54,576 "635,587 5,106,195 766,487 1265,003 715,661 837,945 2568,460 659,071 404,216 860,302 1014,597 2715,103 Total deposits 17,548,627 Deferred availability- v* a cash items 4,319,268 363,587 765,264 267,169 374,861 298,095 358,289 677,923 175,765 127,899 247,011 197,801 465,604 Other liabilities and 1,540 8,652 1,828 3,132 1,924 1,643 5,356 1,301 1,426 1,294 1,370 4,268 accrued dividends 33,734 2g037l5ri27T5S=S5f"m 371 4167,315 31437142 2787,441 8437,79^203^7 11217550"2236,497 2030,009 TOTAL LIABILITIES 49,648,789 CAPITAL ACCOUNTS Capital paid in 415,656 20,221 115,838 24,176 38,433 19, o4o 22,693 59,145 13,903 9,454 17,591 23,696 51,466 Surplus 817,423 40,330 229,103 47,663 75,600 37,559 43,677 115,653 27,531 18,826 34,84o 47,008 99,633 Other capital accounts 54,535 2,803 14,083 3,101 4,742 3,392 2,820 9,717 2,023 1,151 2,304 2,054 6,345 TOTAL LIABILITIES AND 2666,505 12, 7±3T403 2938,311 4286,090 3203,133 2856,631 8622,307 2081,944 1150,991 2291,232 2103,447 6022,329 CAPITAL ACCOUNTS 50,936,403 Conting. liab. on acceptances purchased for 10,442 2/59,623 12,360 19,818 9,803 11,294 30,047 7,246 4,901 9,163 12,360 25,998 foreign correspondents 213,055 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding [297430,138 1687,061 6,918,434 1915,729 2702,574 2243,489 1692,849 5401,930 1261,513 669,124 1172,4l4 869,765 2895,256 Collat. for F. R. notes: Gold certificate acct. 9,255,000 475,000 2,000,000 650,000 870,000 670,000 525,000 1800,000 410,000 180,000 300,000 275,000 1100,000 Eligible paper 20,370 , 8,675 -- -- -- 8,100 -- • 3,59.5 -- . -- '3 U. S. Govt. securities 21,l40, 000 1275 -000 5,100,000 1325,000 1880,000 1590,000 i200 r 000 3800,000 935,ooo 510,000 900,000 625,000 2000, 000 1750,000 7,100,000 1983,675 2750,000 2260,000 1725,000 5600,000 1353,100 690,000 1203,595 900,000 3100,000 Total collateral 3074157370 l/ After deducting $185,040,000 participations of other Federal Reserve Banks. 2/ After deducting $153, 432,000 participations of other Federal Reserve Banks.