H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOABD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM February 9, 1961 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND 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 February 8 increased a net of $26 million to $18,988 million. Cash allowed as reserves decreased $198 million and member bank reserve balances at the Federal Reserve Banks increased $224 million. Estimated required reserves decreased $57 million; and estimated excess reserves increased $83 million to $628 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4^9 million, compared with the revised figure of $479 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $90 million in U. S. Government securities bought outright and $170 million held under repurchase agreement, and $113 million in member bank borrowings, and a decrease of $31 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $78 million in Federal Reserve float, and increases of $31 million in currency in circulation and $67 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $295 million. As of Wednesday, February 8, holdings of U. S. Government securities bought outright were $119 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $247 million higher, and member bank borrowings were $338 million higher. Outright holdings of bills, notes, and bonds increased by $95 million, $18 million, and $6 million, respectively. All securities purchased had maturities of less than 15 months. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 8, Feb. 1, Feb. 10, Feb. 8, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,672 + 90 +1,317 26,689 Held under repurchase agreement 188 +170 + 154 372 Acceptances--bought outright 47 - 1 + 8 46 Discounts and advances-- Member bank borrowings 179 +113 671 517 Other 9 + 6 9 Float 1,053 - 78 + 200 929 Total Reserve Bank credit 28,148 +295 +1,013 28,562 Gold stock 17,429 - 12 -2, 004 17,4l4 Treasury currency outstanding 5,403 + 1 + 82 _Mg4 50,979 +253 910 51,300 Currency in circulation 31,805 + 31 206 31,876^' Treasury cash holdings 413 - 11 30 413 Treasury deposits with F. R. Banks 523 + 13 106 440 Foreign deposits with F. R. Banks 196 - 31 7 195 Other deposits with F. R. Banks 383 - 10 + 39 36^ Other F. R. accounts (net) 1,018 + 67 + 184 1>02?1 34,33% + 59 1+95 357342 Member bank reserves: VJith Federal Reserve Banks 16,641 +224 -1,408 17,03S Cash allowed as reserves (estimated) 2,347 -198 +2,128 2, 551 Total reserves held T2E + 720 19,593 Required reserves (estimated) 18,360 - 57 + 524 18,345 Excess reserves (estimated) 628 + 83 + 196 1,248 On February 8, 196l, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,866 million, an increase of $59 million for the week and an increased of $1,398 million from the comparable date a year ago.

CONSOLIDATED STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Feb. 8, Feb. 1, Feb. 10, 1961 1961 I960 A S S E TS Gold certificate account 16,071 11 -2,100 Redemption fund for F. R. notes 1,055 3 + 88 Total gold certificate reserves 177125 - l4 -2,"012 Cash (614) 506 12 + 10 Discounts and advances 526 + 338 - 100 Acceptances—bought outright 46 + 7 U. S. Government securities: Bought outright-- Bills 2,619 + 95 +1,260 Certificates 9,045 -1,462 Notes 12,484 + 18 +1,474 Bonds 2, 541 + 6 + 57 Total bought outright 257FB9 + 119 +1,349 Held under repurchase agreement 372 + 247 + 338 Total U. S. Government securities 27 >061 + 366 +1,687 Total loans and securities 27,633 + 704 +1,594 Cash items in process of collection (884) 4,018 202 + 63 Bank premises 109 + 1 + 9 Other assets 224 + 14 - 151 TOTAL ASSETS (1,498) 49,616 + 491 - 487 L I A B I L I T I ES Federal Reserve notes (6l4) 27,104 + 110 + 150 Deposits: Member bank reserves 17,038 + 665 - 706 U. S. Treasurer--general account 449 - 7 + 29 Foreign 195 - 30 20 Other 384 + 4 + 47 Total deposits 18,066 + 632 - 650 Deferred availability cash items (884) 3,089 • 272 - 34 Other liabilities and accrued dividends , 37(# • + 5 + 10 TOTAL LIABILITIES (1,498) 48,29#^ . + 475 - 524 C A P I T AL A C C O U N TS Capital paid in 4l/9 . 1 + 26 Surplus 817 *• + 42 Other capital accounts 86 + 17 - 31 TOTAL LIABILITIES AND CAPITAL ACCOUNTS(1, 498 ) 49,616 + ' 491 - 487 Bat10 of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following page s - -not consolidated) 37*^$ - - 4.0$ Contingent liability on acceptances purchased for foreign correspondents 192 3 63 * 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 8, 1961 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and U. S. Government advance s Acceptances securities Within 15 days 516 9 4,452 16 days to 90 days 10 37 1, 430 91 days to 1 year 9,045 Over 1 year to 5 years 10,684 Over 5 years to 10 years 1,179 Over 10 years 271 Total 55 27,061

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CSS FEBRUARY 8, 1961 San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millions of dol] Lars) AA SS SS EE TTSS GGoolldd cceerrttiiffiiccaattee aaccccoouunntt 16,071 830 4,043 960 1,314 1,038 839 2,713 657 335 735 672 1,935 RReeddeemmppttiioonn ffuunndd ffoorr FF.. RR.. nnootteess 1,055 62 249 64 92 85 62 187 46 26 49 3f 101 TToottaall ggoolldd cceerrttiiffiiccaattee rreesseerrvveess 17,126 892 4,292 1,024 1,406 1,123 901 2,900 703 361 784 704 2,036 F. R. notes of other Banks 614 60 146 39 48 35 80 61 17 21 16 31 60 Other cash 506 35 102 25 46 31 33 89 28 10 17 18 72 Discounts and advances 526 30 101 8 102 15 7 l4i 21 7 22 12 60 Acceptances: Bought outright 46 46 U.S. Government securities: Bought outright— Bills 2,619 141 653 150 225 166 143 448 106 61 113 105 308 Certificates 9,045 486 2,256 518 777 572 496 1,548 366 210 388 365 1,063 Notes 12,484 671 3,114 715 1,073 790 685 2,137 504 289 536 503 1,467 Bonds 2.541 136 634 145 218 161 139 435 103 59 109 103 222 Total 2 6% 1,434 6,657 1,528 2,293 1,689 1,463 4,568 1,079 619 1,146 1,076 3,137 Held under repurchase agreement 372 372 Total U.S. Government securities 27.061 1.434 7.029 1.528 2,293 1.689 1.463 4,568 1,079 619 1.146 1.076 3,137 Total loans and securities 27,633 1,464 7,176 1,536 2,395 1,704 1,470 4,709 1,100 626 1,168 1,088 3,197 Cash items in process of collection 4,902 384 959 309 377 4o8 788 221 143 269 208 500 Bank premises 109 4 9 4 9 12 22 7 5 5 14 12 Other assets 224 12 56 13 20 14 13 37 9 5 10 9 26 TOTAL ASSETS 51,114 2,851 12,740 2,950 4,301 3,249 2,917 8,606 2,085 1,171 2,269 2,072 5,903

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BASK ON FEBRUARY 8, 1961 H.4. j.\cy "J-L San— Total Boston N Y e o w rk d P e h lp i h la i - a C l l a e n v d e - R m i o c n h d - Atlanta | Chicago L S o t u . is M ap in o n li e s - K C an it s y a s Dallas F ci r s a c n o - (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 27,718 1,598 6,471 1,824 2,512 2,130 1,589 5,171 1,197 588 1,131 813 2,694 DDee MM pp ee oo mm ssii bb tt ee ss rr :: bbaannkk rreesseerrvveess 17,038 801 4,80g 777 1,294 857 2,486 629 401 829 % 2,47s4 UU..SS.. TTrreeaassuurreerr--ggeenneerraall aaccccoouunntt 449 27 19 27 % 33 55 28 22 35 FFoorreeiiggnn 1 3 9 8 5 4 10 • - 1 3 / 2 5 1 6 11 2 18 1 4 10 1 27 1 * 7 * 4 8 1 11 1 52 OOtthheerr TToottaall ddeeppoossiittss 18,066 838 5,242 809 1,340 789 901 2,569 664 427 873 1,006 5,608 Deferred availability cash items 3,973 349 648 238 325 266 354 670 177 124 208 178 436 Other liabilities and accrued d1vidends • 2 12 2 2 2 2 6 2 1 1 1 Mb TOTAL LIABILITIES 49,79^ 2,787 12,373 2,873 4,179 3,187 2,846 8,416 2,040 1,140 2,213 1,99S 5,742'\ CAPITAL ACCOUNTS 8 CCaappiittaall ppaaiidd iinn 41/ % 20 116 24 39 19 14 10 18 24 51% SSuurrpplluuss 817 40 229 48 75 19 35 47 100 OOtthheerr ccaappiittaall aaccccoouunnttss 86 4 22 5 8 3i 4 15 2 3 3 10 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 51,114 2,851 12,740 2,950 4,301 3,249 2,917 8,606 2,085 1,171 2,269 2,072 5,903 Contingent liability on acceptances purchased for foreign correspondents 192 9 5/ 54 11 18 9 10 27 7 5 8 11 23 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,152 1,678 6,849 1,899 2,680 2,211 1,673 5,361 1,250 005 oou £,00 f Collateral for F. R. notes: Gold certificate account 9,255 475 2,000 650 870 670 525 1,800 4io 180 300 275 1,100 21 22 Eligible paper 50 7 U. S. Government securities 21,130 1,275 5,100 1,325 1,880 1,580 1,200 3,800 935 510 900 625 2,000 Total collateral 30,435 1,750 7,100 1,982 2,750 2,250 1,725 5,600 1,366 690 1,222 900 3,100 1/ After deducting $139 million participations of other Federal Reserve Banks. 2/ After deducting $138 million participations of other Federal Reserve Banks. * Less than $500,000.