H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release H.4.1 August 10, 1961 The average of daily figures of total member "bank reserves held during the week ended August 9 decreased $39 million to $19, 247 million. Cash allowed as reserves decreased $192 million and member bank reserve balances at the Federal Reserve Banks increased $153 million. Estimated required reserves decreased $137 million; and estimated excess reserves increased $98 million to $574 million. Excest reserves exceeded member tank borrowings at the Federal Reserve Banks by $451 mil- lion, compared with the revised figure of $401 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $255 million in U. S. Government securities bought outright and $40 million held under repurchase agreement, $48 million in member bank borrowings, and $21 million in gold stock, and a decrease of $22 million in Treasury cash holdings. The principal offsetting changes were a decrease of $75 million in Federal Reserve float, and increases of $115 million in currency in circulation and $55 million in 11 other' F- R- accounts (net). Total Reserve Bank credit increased $269 million. As of Wednesday, August 9, holdings of U. S. Government securities bought outright were $73 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $4 million higher, and member bank borrowings were $305 million higher. Outright holdings of bills, certificates, and notes decreased $75 million, $12 million, and $1 million, respectively; and bonds increased $15 million. Averages of daily figures Member "bank reserves, Week ended Change from week <e nded Wednesday, Reserve Bank credit, Aug. 9, Aug. 2, Aug . 10, Aug. 9, and related items 1961 1961 I960 1961 (in millions of dollars) Reserve Bank credit: U• S. Government securities- Bought outright--System account 27,484 +255 + 678 27,352 Held under repurchase agreement 130 + 4o 163 148 - Acceptances-- Bought outright 34 + l + 3 32 Held under repurchase agreement — — - 1 - - Discounts and advances — Member "bank borrowings 123 + 48 170 473 - Other WW ** ** — w — «"* —- Float 1,006 - 75 + 184 887 Total Reserve Bank credit 28,777 +269 + 531 28,892 Gold stock 17,548 + 21 -1 ,550 17,602 Treasury currency outstanding 5, 543 + 16 + 184 5, 544 51,869 +307 835 52,038 - Currency in circulation 32,564 +115 4- 435 32, 624 Treasury cash holdings 423 - 22 + 19 432 Treasury deposits with F. R. Banks 467 + 11 + 15 449 Foreign deposits with F. R. Banks 234 - 4 4- 42 255 Other deposits with F. R. Banks 304 - 2 - 59 270 Other F. R. accounts (net) 1,024 + 55 + 140 1, 020 35,016 +153 + 592 35,050 Member bank reserves: With Federal Reserve Banks 16,852 +153 -1,427 16,987 Gash allowed as reserves (estimated) 2,395 -192 4-2, 149 2,676 Total reserves held 19,247 - 39 + 722 19,663 Required reserves (estimated) 18,673 -137 + 655 18,622 Excess reserves (estimated) 574 + 98 + 67 1,04.1 On August 9, 1961, U. S• Government securities held in custody by the Federal Reserve Banks for foreign account were $6,176 million, an increase of $456 million for the week and an increase of $809 million from the compare,ble date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Aug. 9, Aug. 2, Aug. 10, 1961 19ol i960 A S S E TS Gold certificate account 16,292 + 67 -l, 513 Redemption fund for F. R. notes 1,043 — + 63 Total gold certificate reserves 17,335 4- 67 -1,450 Cash (385) 388 - 7 - 13 Discounts and advances 473 + 305 + 259 Acceptances—0 cra^Irfc outright 32 l + 2 - U. S. Government securities: Bought outright-- Bills 2,294 - 75 - 513 Certificates l, 710 12 -6,797 - Notes 19,839 1 +6,829 - Bonds 3,509 + 15 +1,025 Total bought outright 27,352 - 73 + 544 Held under repurchase agreement 148 + 4 + 12 Total U. S. Government securities 27,500 69 + 556 - Total loans and securities 28,005 + 235 + 817 Cash items in process of collection (875) 4,171 - 254 + 235 Bank premises 110 1 + 5 - Other assets 285 + 22 - 83 TOTAL ASSETS (1,260)50,294 + 62 - 489 L I A B I L I T I ES Federal Reserve notes (385)27,634 + 124 + 342 Deposits: Member bank reserves 16,987 + 184 - 961 U. S. Treasurer--general account 449 - 97 + 18 Foreign 255 + 44 + 78 Other 270 63 - 103 - Total deposits 17,961 + 68 968 Deferred availability cash items (875) 3,284 - 146 + 76 Other liabilities and accrued dividends 55 + 3 + 13 TOTAL LIABILITIES (1,260)48,934 + 49 - 537 C A P I T AL A C C O U N TS Capital-paid in" 429 - + 27 Surplus 817 -- + 42 Other capital accounts 114 + 13 - 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 26o)$Q, 294 + 62 - 489 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 37*7^ -- - 2.6$ Contingent liability on acceptances purchased for foreign correspondents l43 -- - 4l * 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, AUGUST 9, 1961 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. So Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 4'fl 11 591 - 40 16 days to 90 days 2 21 1,042 + 58 91 days to 1 year -*£ 7,891 -133 — — Over 1 year to 5 years 15,527 + 40 Over 5 years to 10 years 2, 232 + 3 — - Over 10 years -- 217 + 3 Totals - , %73 32 27,500 - 69 ei Uco oo

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 1961 New Phila- Cleve- Rich- St. Minne- Kansas San Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 16,292 782 3,974 924 1,400 1,049 811 2,777 668 311 751 646 2,199 Redemption fund for F. R. notes 1,043 63 237 . 65. . 90 81 65 188 46 26 47 34 101 Total gold certificate reserves 17,335 845 4,211 989 1,490 1,130 876 2,965 714 337 798 680 2,300 F. R. notes of other Banks 385 35 111 35 11 20 52 22 8 21 16 16 38 Other cash 388 24 76 20 37 17 33 68 19 10 11 20 53 Discounts and advances 473 24 176 7 4l 25 24 126 6 5 9 5 25 Acceptances: Bought outright 32 32 U. S. Government securities: — -- " -- -- -- - - - - Bought outright-- Bills 2,294 122 568 132 194 145 126 392 93 54 100 93 275 Certificates 1,710 91 423 99 145 108 94 292 69 4o 74 70 205 Notes 19,839 1,056 4,906 1,146 1,682 1,256 1,091 3,390 798 464 865 806 2,379 Bonds -2*502. 187 868 203 298 222 .. 193 599 l4l 82 15^ 142 421 Total 27,352 1,456 6,765 1,580 2,319 1,731 1,-504 4,673 1,101 64o 1,192 1,111 3,280 Held under repurchase agreement 148 148 Total U. S. Government securities 27,500 1,456 6,91.3 1,580 2,319 1,731 1,504 4,673 1,101 64o 1,192 1,111 3 280 Total loans and securities 28,005 l,48o 7,121 1,587 2,360 1,756 1,528 4,799 1,107 645 1,201 1,116 3,305 Cash items in process of collection 5,046 350 956 340 389 375 4oi 770 224 158 26l 220 602 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 285 15 71 16 24 18 16 48 11 7 13 12 34 TOTAL ASSETS 51,554 2,753 12,555 2,991 4,319 3,322 2,919 8,696 2,090 1,183 2,306 2,077 6,343

H,4.1(c) STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 196l 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 dollars) L I A B I L I T I ES Federal Reserve notes 28, 019 1,635 6, 410 1,823 2, 518 2,194 1,610 5,199 1,199 584 1,170 847 2,830 Deposits: Member bank reserves 16,987 694 4,698 757 1, 287 708 843 2,538 626 4o6 801 926 2,703 U.S. Treasurer-general account 449 19 26 25 43 30 55 28 23 57 17 55 Foreign 255 12 1/75 14 23 11 13 35 9 6 11 15 31 Other 270 3 215 1 1 4 1 2 1 1 1 1 39 Total deposits 17,961 728 5,059 798 1,336 766 887 2,630 664 436 870 959 2,828 Deferred availability cash items 4,159 321 69 8 289 336 295 345 662 180 131 207 193 502 Other liabilities and accrued dividends 55 3 16 3 4 3 3 10 2 l 2 2 6 TOTAL LIABILITIES 50,194 2, 687 12,183 2,913 4,194 3,258 2,845 8,501 2, 045 1,152 2,249 2, 001 6,166 -CAPITAL ACCOUNTS Capital paid in 429 21 117 25 40 20 23 60 i4 10 18 25 56 Surplus 817 4o 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts ll4 5 26 5 10 7 7 19 4 2 4 4 21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,554 2,753 12, 555 2,991 4,319 3,322 2,919 8,696 2,090 1,183 2, 306 2,077 6,343 Contingent liability on acceptances purchased for foreign correspondents 143 7 2/4o 8 13 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,131 1,690 6,700 1,884 2,654 2, 276 1,679 5,303 1,246 662 1, 200 891 22,,994466 Collateral for F. R. notes: Gold certificate account 9, 075 495 2, 000 650 870 735 475 1,700 380 170 325 275 1,000 Eligible paper 22 — — — — 7 — — — — — — — — 6 — — 9 U. S. Government securities 21,335 1,275 5,ioo l, 325 1,880 l,56o 1,300 3,800 935 510 900 650 2,100 Total collateral 30,432 1,770 7,ioo 1,982 2, 750 2,295 1,775 5,500 1,321 680 1,234 925 3,ioo 1/ After deducting $180 million participations of other Federal Reserve Banks. 2/ After deducting $103 million participations of other Federal Reserve Banks.