H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM April 13, 19&1 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM 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 April 12 increased $82 million to $18,785 million, which included an increase of $60 million in member hank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $40 million; and estimated excess reserves increased $42 million to $579 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $527 million, compared with $430 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $62 million in Federal Reserve float, and decreases of $31 million in Treasury deposits with Federal Reserve Banks, $38 million in foreign deposits with Federal Reserve Banks, and $78 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $55 million in member bank borrowings and an increase of $109 million in currency in circulation. Total Reserve Bank credit increased $5 million. As of Wednesday, April 12, holdings of U. S. Government securities bought outright were $370 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $52 million higher, and member bank borrowings were $4 million lower. Outright holdings of bills and certificates decreased $339 million and $121 million, respectively; and notes and bonds increased $39 million and $51 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 12, April 5, April 13, April 12, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 26,854 + 18 +1,569 26,754 Held under repurchase agreement 14 - 20 - 97 55 Acceptances—bought outright 46 + 13 45 - Discounts and advances— Member bank borrowings 52 - 55 - 619 110 Other 7 - 1 - 55 7 Float 1,004 + 62 + 94 948 Total Reserve Bank credit 27,978 + 5 + 905 27,919 Gold stock 17,389 + 1 -2,005 17,390 Treasury currency outstanding 5,411 + 2 + 69 5,412 50,777 + 7 -1,032 50,721 Currency in circulation 32,007 +109 + 181 31,995 Treasury cash holdings 4o6 - 3 11 420 Treasury deposits with F. R. Banks 398 - 31 - 67 402 Foreign deposits with F. R. Banks 212 - 38 + 12 173 Other deposits with F. R. Banks 310 - 78 - 39 345 Other F. R. accounts (net) l,oi4 - 14 + 97 962 34,347 - 55 + 172 34,297 Member bank reserves: With Federal Reserve Banks 16,429 + 60 -1,205 16,425 Cash allowed as reserves (estimated) 2,356 + 22 +2,120 2,696 Total reserves held 16,785 + 82 + 915 19,121 Required reserves (estimated) 18,206 + 40 + 806 18,270 Excess reserves (estimated) 579 + 42 + 109 851 On April 12, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,237 million, an increase of $234 million for the week and an increase of $1,472 million from the comparable date a year ago.

8.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (la. millions of dollars) Change since April 12, April 5, April 13, 1961 1961 A S S E TS Gold certificate-account 16,056 1 -2,092 Redemption fund for F. B. notes 1,037 - 2 + 89 Total gold certificate reserves 17,093 - 3 -2,003 Cash (405) 431 - Ik + 30 Discounts and advances 117 - k - 387 Acceptances: Bought outfight 45 + l4 U. S. Government securities: Bought outright— Bills 2,284 339 + 956 Certificates 5,277 - 121 -3,230 Notes 16,422 + 39 +3,412 Bonds 2,771 + 51 + 287 Total bought outright 26,754 - 370 +1,425 Held under repurchase agreement 55 + 52 - 70 Total U. S. Government securities 26,809 - 318 +1,355 Total loans and securities 26,971 - 322 + 982 Cash items in process of collection (956) 4,412 + 264 - 146 Bank premises 109 + 6 Other assets 255 + 23 - 4% TOTAL ASSETS (1,361) 49,271 - 52 -1,178 L I A B I L I T I ES Federal Reserve notes ~ (405) 27,136 + 31 + 104 Deposits: Member tank reserves 16,425 298 -1,256 U. S. Treasurer--general account 402 + 180 + 129 Foreign 173 - 115 - 64 Other 345 - 39 + 1 Total deposits 17,345 - 272 -1,190 Deferred availability cash items (956) 3,464 + 229 - 161 Other liabilities and accrued dividends 31 + 1 5 TOTAL LIABILITIES (l,36l) 47,976 - 11 -1,252 C A P I T AL A C C O U N TS Capital paid in 423 l + 27 Surplus 817 - - + 42 Other capital accounts 55 - 40 + 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,361) 49,271 52 -1,178 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 38.1# + .2# - 3-4# Contingent liability an acceptances purchased for foreign correspondents 159 - 12 - 10 * 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, APRIL 12, 1961 (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 securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 110 11 538- ~35 16 days to 90 days 7 34 4,o4o -184 91 days to 1 year 10,795 -219 Over 1 year to 5 years 9,480 + 77 Over 5 years to 10 years 1,809 + 42 Over 10 years 147 Total 117 %5 26,809 ^§15

H A.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 12, 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 doll Lars) A S S E TS Gold certificate account 16,056 698 4,036 901 1,377 985 802 2,700 644 343 714 637 2,219 Redemption fund for F. R. notes 1,037 61 241 63 89 85 60 183 45 26 48 32 104 Total gold certificate reserves 17,093 759 4,277 964 1,466 1,070 862 2,883 689 369 762 669 2,323 F. R. notes of other Banks 405 23 129 18 27 19 67 33 9 8 16 22 34 Other cash 431 28 98 19 38 23 30 65 26 10 12 23 59 Discounts and advances 117 2 60 3 3 10 8 6 2 2 19 1 1 Acceptances: Bought outright 45 45 U. S. Government securities: Bought outright— Bills 2,284 122 565 131 194 145 126 390 92 53 99 93 274 Certificates 5,277 281 1,306 305 446 334 290 902 212 124 230 214 633 Notes 16,422 874 4,06l 949 1,393 1,039 903 2,806 661 384 716 667 1,969 Bonds 2,771 147 685 160 235 175 152 473 112 65 121 113 333 Total 26,754 1,424 6,617 1,545 2,268 1,693 1,471 4,571 1,077 626 1,166 1,087 3,209 Held under repurchase agreement 55 55 Total U.S. Government securities 26,809 1,424 6,672 1,545 2,268 1,693 1,471 4,571 1,077 626 1,166 1,087 3,209 Total loans and securities 26,971 1,426 6,777 1,548 2,271 1,703 1,479 4,577 1,079 628 1,185 1,088 3,210 Cash items in process of collection 5,368 386 1,076 341 425 390 438 865 237 156 270 223 561 Bank premises 109 4 9 4 8 6 12 23 7 5 5 14 12 Other assets 255 13 62 15 23 17 15 42 10 6 12 10 30 TOTAL ASSETS 50,632 2,639 12,428 2,909 4,258 3,228 2,903 8,488 2,057 1,182 2,262 2,049 6,229

H.4.1(c) STftTEMEICTOF';^ OF BA.€g-FEBBRftL RESERVE BARK ON AHgL-12,,.1961., San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco L I A B I L I T I ES (In millions of dol] Lars J Federal Reserve notes 27,541 1,585 6,383 1,811 2,490 2,121 1,568 5,142 1,187 591 1,137 811 2,715 Deposits: Member bank reserves 16,425 584 4,551 712 1,233 689 835 2,359 591 818 929 2,729 U.S. Treasurer-general account 402 30 48 20 28 26 37 36 33 27 30 63 Foreign 173 9 1/49 10 16 8 9 24 6 4 7 10 21 Other 345 * ~ 295 2 1 4 1 1 1 * 1 1 38 Total deposits 17,345 623 4,943 744 1,27b 727 002 2,420 631 423 853 970 2,SSI Deferred availability cash items 4,420 367 737 278 368 319 380 738 195 137 216 194 491 Other liabilities and accrued dividends 31 2 8 2 3 2 2 4 1 1 1 1 4 TOTAL LIABILITIES 49,337 2,577 12,071 2,635 4,139 3,169 2,832 8,304 2,014 1,152 2,207 1,976 6,061 CAPITAL ACCOUNTS s Capital paid in 423 20 117 24 39 19 60 l4 10 18 24 55 Surplus 817 4o 229 48 75 37 116 27 19 35 47 100 Other capital accounts 55 2 11 2 5 3 4 8 2 1 2 2 13 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,632 2,639 12,428 2,909 4,258 3,228 2,?03 .8,488 2,<97 1,182 2,262 2,049 6,229 Contingent liability on acceptances purchased for foreign correspondents 159 8 2/45 9 15 7 9 %2 5 4 7 9 19 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,722 1,637 6,739 1,867 2,633 2,187 1,637 5,263 1,221 664 1,170 85? 2,047 Collateral for F. R. notes: Gold certificate acct. 8,975 475 2,000 650 870 670 475 1,700 380 180 300 275 1,000 Eligible paper 22 2 1 19 U. S. Government securities 21,210 1,275 5,100 1,325 1,880 1,560 1,200 3,800 935 510 900 625 2,100 Total collateral 30,207 1,750 7,100 1,977 2,750 2,230 1,675 5,500 1,316 690 1,219 900 3,100 l/ After deducting $124 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting .ftnli. million participations of other Federal Reserve Banks.