H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 22, 1961 (Corrected) WEEKLY AVERAGES OF MEMBER EAKK 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 June 21 increased a net of $433 million to $19,276 million, uhich reflected in part an increase of $438 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $469 million; and estimated excess reserves decreased $36 million to $592 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $550 million, compared with the revised figure of $557 million the week before. The principal changes supplying average reserve balances vith Federal Reserve Banks were increases of $433 million in Federal Reserve float and $38 million in gold stock, and decreases of $52 million in currency in circulation and $22 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $101 million in U. S. Government securities bought outright and $29 million in member bank borrowings. Total Reserve Bank credit increased $309 million. As of Wednesday, June 21, holdings of U. S. Government securities under repurchase agreement were $20 million higher and member bank borrowings were $18 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 21, June 14, June 22, June 21, and related items 1961 1961 I960 1961 (C]n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 26,845 -101 + 834 2266,,884455 Held under repurchase agreement 3 + 3 + 3 20 Acceptances—bought outright 38 + 9 37 Discounts and advances-- - Member bank borrowings 42 - 29 - 508 79 Other 2 - 2 + 2 2 Float _1,556 +438 + 51 1,290 Total Reserve Bank credit +309 + 390 28,273 Gold stock 17,4.87 + 38 -1,859 17,526 Treasury currency outstanding 5,433 «* - + 79 5,433 51,406 +346 -1,390 51,232 Currency in circulation 32,247 - 52 + 320 32,211 Treasury cash holdings 410 -- 2 409 Treasury deposits with F. R. Banks 481 + 1 69 563 Foreign deposits with F. R. Banks 193 - 10 - 32 176 Other deposits with F. R. Banks 233 - 9 - 165 293 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,021 - 22 + 51 1,020 34,585 , - 92 + 104 34,672 Member bank reserves: With Federal Reserve Banks 16,820 +438 -1,495 1166,,556600 Cash allowed as reserves (estimated) 2,456 - 5 +2,169 2,738 Total reserves held 19,276 +433 + 674 19,258 Required reserves (estimated) 18,684 +469 + 642 18,713 Excess reserves (estimated) 592 - 36 + 32 585 On June 21, 1961, U. S. Government securities held in custody by the Federal Reserve Backs for foreign account were $5,635 million, an increase of $58 million for the week and an increase of $658 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since June 21, June! l4 % lJ une 22, 1961 1961 I960 A S S E TS Gold certificate"™account 16,173 + 47 -1,933 Redemption fund for F. R. notes 1,047 - 1 + 131 k6 Total gold certificate reserves 17,220 + -1,827 # 2 Cash (370) 376 + 9 Discounts and advances 81 + 18 658 Acceptances—bought outright 37 + 9 " U. S. Government securities: Bought outright— Bills 22,,552266 ++ 554444 -- Certificates 6,500 -2,007 Notes 14,585 —— +1,575 Bonds 3,234 -- + 750 Total bought outright 26,845 + 862 Held under repurchase agreement 20 + 20 + 20 Total U. S. Government securities 26,865 + 20 + 882 Total loans and securities 26,983 + 38 + 233 Cash items in process of collection (1,116) 5,645 + 521 + 479 Bank premises 111 + 6 — Other assets 238 1 + 13 - TOTAL ASSETS (1,486) 50,573 + 6o2 -1,087 L I A B I L I T I ES Federal Reserve notes (370) 27,257 - 73 + 276 Deposits: Member bank reserves 1166,,556600 + 221 --11,,446666 U. S. Treasurer—general account 563 - 2 - 15 Foreign 176 • 26 - 99 Other 293 52 - 104 Total deposits 17,592 + 245 -1,684 Deferred availability cash items (1,116 4,355 + 418 + 250 Other liabilities and accrued dividends 52 - 2 + 7 TOTAL LIABILITIES (1,486) 49,256 + 588 -1,151 C A P I T AL A C C O U N TS Capital paid in 423 + 24 Surplus 817 + 42 •mm-m Other capital accounts 77 14 2 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,486) 50,573 + 602 -1,087 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as show on the following pages—not consolidated) 38.1% — - 2.7$ Contingent liability on acceptances purchased for foreign correspondents 156 1 28 * 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, JUKE 21, 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 veek Within 15 days 79 8 369 +103 l6 days to 90 days 2 29 6,238 - 32 91 days to 1 year * 7,724 +269 Over 1 year to 5 years — 10,240 -320 Over 5 years to 10 years — -w 2,135 -- Over 10 years 159 m * Total m 37 26,865 TH5 * Less than $500,000.

H.4.1(b) STArEMEZ OF CONDITION OF EACH' FEDERAL' RESERVE BANK ON JUNE 21, 19]6 1 San Total Boston Nev Phila- Cleve- Rich- Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass Fran- York delphia land mond Louis apolis City cisco (In millions of doljLa rs) A S S E TS Gold certificate account 16,173 767 4,038 942 1,341 966 832 2,887 628 336 673 728 2,035 Redemption fund for F. R. notes 1,047 64 243 65 89 87 62 185 45 26 47 32 102 Total gold certificate reserves 17,220 831 4,281 1,C07 1,430 1,053 894 3,072 673 362 720 760 2,137 F. R. notes of other Banks 370 17 126 18 19 22 52 22 10 11 16 16 41 Other cash 376 21 73 17 36 19 30 63 17 8 13 22 57 Discounts and advances 81 2 5 5 6 11 9 7 2 2 88 3 2211 Acceptances: Bought outright 37 — *• 37 mm mm — «. mm 4m mm mm mm a» mm mm am U. S. Government securities: Bought outright- Bills 22,,552266 135 662244 114466 214 160 139 431 102 59 110 103 303 Certificates 6,500 346 l,6c8 375 551 4ll 357 1,111 262 152 283 264 780 Notes 14,585 776 3,607 843 1,237 923 802 2,492 587 341 636 592 1,749 Bonds 3,234 172 800 187 274 205 178 553 130 76 l4l 131 387 Total 26,845 1 1,429 6,639 1,551 2,276 1,699 1,476 4,587 1,081 628 1,170 1,090 3,219 Held under repurchase agreement 20 20 — -- — — -- — — — — Total U.S. Government securities 26,865 1,429 6,659 1,551 2,276 1,699 1,476 4,587 1,081 628 1,170 1,090 3,219 Total loans and securities 26,983 1,431 6,701 1,556 2,282 1,710 1,485 4,594 1,083 630 1,178 1,093 3,240 Cash itens in process of collection 6,761 446 1,550 4c6 514 496 496 1,019 258 191 347 297 741 Bank premises 111 4 9 4 8 6 13 24 7 5 6 14 11 Other assets 238 13 58 13 20 15 14 4o 9 5 12 10 29 TOTAL ASSETS 52,059 2,763 12,798 3,021 4,309 3,321 2,984 8,834 2,057 1,212 2,292 2,212 6,256

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 21, 1961 San Nev Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis City cisco (In millions of dolL]a rs) L I A B I L I T I ES Federal Reserve notes 27,627 1,602 6,356 1,823 2,484 2,136 1,578 5,132 1,189 589 1,150 830 2,758 Deposits: Member bank reserves 16,560 637 4,585 746 1,196 68 3 859 2,527 584 395 765 987 2,596 U.S. Treasurer-general account 563 19 116 23 30 37 44 100 21 27 34 32 80 Foreign 176 9 1/ 48 10 17 8 9 25 6 4 8 10 22 Other 293 1 ~ 239 3 1 2 1 * 1 * 2 1 42 Total deposits 17,592 666~ 4,988 782 1,244 730 913 2,652 612 426 809 1,030 2,74o Deferred availability cash items 5,471 429 1,079 337 456 391 4l8 854 210 165 275 276 581 Other liabilities and accrued dividends 52 3 13 3 4 3 3 9 2 2 2 2 6 TOTAL LIABILITIES 50,742 2,700 12,436 2,945 4,188 3,260 2,912 8,647 2,013 1,182 2,236 2,138 6,085 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 77 3 16 4 7 5 5 11 3 1 3 3 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,059 2,763 12,798 3,021 4,309 3,321 2,984 8,834 2,057 1,212 2,292 2,212 6,256 Contingent liability on acceptances purchased for foreign c orrespondents 156 8 2/ 44 9 14 7 8 22 5 4 7 9 19 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,947 1,650 6,801 1,882 2,625 2,222 1,645 5,247 1,234 672 1,184 885 2,900 Collateral for F. R. notes: Gold certificate account 8,975 475 2,000 650 870 670 475 1,700 380 180 300 275 1,000 Eligible paper 15 — «• — — 5 -- — — — — 2 " 8 — *- U. S. Government securities 21,235 1,275 5,100 1,325 1,880 1,585 1,200 3,800 935 510 900 625 2,100 Total collateral 30,225 1,750 7,100 1,980 2,750 2,255 1,675 5,500 1,317 690 1, 2C8 900 3,100 _l/ After deducting $128 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $112 million participations of other Federal Reserve Banks,