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 27, 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 April 26 increased a net of $26 million to $19,052 million; cash allowed as reserves increased $67 million and member bank reserve balances at the Federal Reserve Batiks decreased $4l million* Estimated required reserves increased $5 million; and estimated excess reserves increased $21 million to $709 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $672 million, compared with the revised figure of $644 million the week before. The principal changes reducing averelge reserve balances with Federal Reserve Banks were decreases of $212 million in Federal Reserve holdings of U. S« Government securities and $31 million in Federal Reserve float, and an increase of $22 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $173 million in currency in circulation and $50 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $254 million. As of Wednesday, April 26, holdings of U. S. Government securities bought outright were $208 million lower than a week earlier and member bank borrowings were $20 million lower. Outright holdings of bills, certificates, and notes decreased $73 million, $186 million, and $3 million, respectively, and bonds increased $54 million. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, April 26, April 19, April 27, April 26, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26.389 -202 945 26,228 Held under repurchase agreement - 10 77 Acceptance s- -bought outright ""44 - 2 14 43 Discounts and advances-- Member bank borrowings 37 - 7 487 33 Other 5 - 3 + 5 5 Float 1,279 - 31 + 126 §68 Total Reserve Bank credit 27,755 I25S + 527 27,277 Gold stock 17.390 -1,983 17,390 Treasury currency outstanding 5,417 + 3 + 71 5,418 50,562 -252 50/585 Currency in circulation 31,807 226 31,765 Treasury cash holdings 4l4 3 415 Treasury deposits with F. R. Banks 374 179 501 Foreign deposits with F. R. Banks 194 + 8 232 Other deposits with F. R. Banks 298 + 29 308 Other F. R. accounts (net) , 963 + 106 964 34,050 186 34,185 Member bank reserves: With Federal Reserve Banks 16,511 -1,572 15,900 Cash allowed as reserves (estimated) 2,541 +2,232 Total reserves held 19,052 T %o Required reserves (estimated) 18,343 + 432 18,367 Excess reserves (estimated) 709 + 228 320 On April 26, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,177 million, a decrease of $76 million for the week and mi increase of $1,359 million frcm the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since April 26, April 19, April 27. 1961 1961 I960 A S S E TS Gold certificate account 16,059 + 4 -2,053 Redemption fund for F. R. notes l, 030 - 7 + 76 Total gold certificate reserves 17,089 3 -1,977 - At. Cash (451) 447 + 8 + 33 Discounts and advances 38 22 - 507 - Acceptances--bought outright 43 1 + 13 - U. S. Government securities: Bought outright— Bills 11,,997744 - 73 + 517 Certificates 5,001 186 -3,506 - Notes 16,4i8 - 3 +3,4C8 Bonds 2,835 + 54 + 351 Total bought outright 26,228 208 + 770 - Held under repurchase agreement - - - - - 32 Total U. S. Government securities 26,228 208 + 738 - Total loans and securities 26,309 231 + 244 - Cash items in process of collection (1,009) 4,538 - 462 + l4l Bank premises 108 - 1 + 5 Other assets 289 + 18 - 54 TOTAL ASSETS (1,460) 48,780 671 -1,608 - L I A B I L I T I ES Federal Reserve notes (451) 26,908 131 + 201 - Deposits: Member bank reserves 15,900 - 451 -1,953 U. S. Treasurer—general account 501 + 145 - 95 Foreign 232 + 20 + 62 Other 308 - 55 + 9 Total deposits 16,941 341 -1,977 - Deferred availability cash items (1,009) 3,570 - 212 + 109 Other liabilities and accrued dividends 37 - 2 6 TOTAL LIABILITIES (l,46o) 47,456 686 -1,673 - C A P I T AL A C C O U N TS Capital paid in 423 + 26 — — Surplus 817 + 42 -- Other capital accounts 84 + 15 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,460) 48,780 671 -1,608 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 38.6% 4 .4$ - 2.7% Contingent liability on acceptances purchased for foreign correspondents 153 1 - 15 - * 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 26, 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 31 15 522 +150 16 days to 90 days 7 28 3,635 -260 91 days to 1 year -- — 10,489 -198 Orer 1 year to 5 years -- -- 9,578 + 63 Over 5 years to 10 years — -- 1,853 + 33 Over 10 years — — 151 + 4 \ Total 38 %3 26,228 -208

H A.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OF APRIL" *26, 1961 San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco A S S E TS millions of dol]L ars) Gold certificate account 16,059 793 3,962 1,025 1,369 1,003 826 2,791 631 341 669 655 1,994 Redemption fund for F. R. notes 1,030 60 239 89 84 58 183 45 26 48 31 104 S3 Total gold certificate reserves 17,089 853 4,201 1,088 1,458 1,087 884 2,974 676 367 717 686 2,098 F. R. notes of other Banks 451 25 133 21 32 24 73 £ 11 11 16 23 44 Other cash Wj 29 101 19 38 25 32 26 10 12 23 66 Discounts and advances 38 3 4 2 2 2 1 7 3 2 10 1 1 Acceptances: Bought outright 43 43 U. S. Government securities: Bought outright— Bills 1,974 105 488 114 168 125 108 337 80 46 86 80 237 Certificates 5,001 266 1,237 289 424 317 275 855 201 117 218 203 599 Notes 16,4i8 874 4,060 948 1,392 1,039 903 2,805 661 384 716 667 1,969 Bonds 2,835 151 > 7°} 164 240 179 156 485 114 67 123 115 340 Total 26,228 1,396 6,486 1,515 2,224 1,660 1,442 4,482 1,056 614 1,143 1,065 3,145 Held under repurchase agreement Total U. S. Government securities 26,228 1,396 6,486 1,515 2,224 1,660 1,442 4,482 1,056 6l4 1,143 1,065 3,145 Total loans and securities 26,309 1,399 6,533 1,517 2,226 1,662 1,443 4,489 1,059 616 1,153 1,066 3,146 Cash items in process of collection 5,547 409 1,076 342 444 383 443 851 230 152 313 304 600 Bank premises 108 4 9 4 8 6 12 7 5 5 14 11 Other assets 289 15 72 17 25 18 17 U 11 6 13 12 35 TOTAL ASSETS ^ 50,240 2,734 12,125 3,008 4,231 3,205 2,904 8,489 2,020 1,167 2,229 2,128 6,000

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAftK ON APRIL 26,1961 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 dollarsJ L I A B I L I T I ES Federal Reserve notes 27,359 1,579 6,347 1,804 2,473 2,106 1,552 5,114 1,180 587 1,127 813 2,677 Deposits: Member hank reserves 15,900 673 4,249 791 1,205 667 851 2,364 578 389 757 917 2,459 U.S. Treasurer-general account 501 26 29 36 18 43 27 61 20 24 33 64 120 Foreign 232 11 1/ 72 13 21 10 12 31 8 5 9 13 27 Other 308 * " 259 1 * 3 1 2 * 1 1 l 39 Total deposits 16,9^1 710 4,609 841 1,244 723 891 2,458 606 419 800 995 2,645 Deferred availability cash items 4,579 379 795 285 390 313 387 722 188 130 245 244 501 Other liabilities and accrued dividends 2 9 2 3 2 2 6 2 1 1 2 5 TOTAL LIABILITIES 48,916 2,670 11,760 2,932 4,110 3,144 2,832 8,300 1,976 1,137 2,173 2,054 5,828 CAPITAL ACCOUNTS Capital paid in 423 20 117 24 39 19 23 60 14 10 18 24 55 Surplus 817 40 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 84 4 19 4 7 5 5 13 3 1 3 3 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,24o 2,734 12,125 3,008 4,231 3,205 2,904 8,489 2,020 1,167 2,229 2,128 6,000 Contingent liability on acceptances purchased for foreign correspondents 153 i/ 43 9 14 8 21 19 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding "IJ635 ^695 l%8Sl 2,627 2,181 1,627 5,251 1,226 ~Wi 1,162 860 2,833 Collateral for F. R. notes: Gold certificate account 475 2,000 650 870 670 475 1,700 380 180 300 275 1,000 Eligible paper 3 •• XQ — — — —' U. S. Government securities 21.2.10 1.275 5,100 1,325 1,880 1,560 1,200 3,800 231 510 900 625 2,100 Total collateral 30,200 1,750 7,100 1,977 2,750 2,230 1,675 5,500 1,318 690 1,210 900 3,100 if After deducting $160 million participations of other Federal Reserve Banks, * Less than $500,000. 2/ After deducting ftnn million participations of other Federal Reserve Banks.