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 August 17, 1961 The average of daily figures of total member "bank reserves held during the week ended August 16 decreased a net of $21 million to $19,187 million. Cash allowed as reserves increased $164 million and member bank reserve balances at the Federal Reserve Banks decreased $185 million. Estimated required reserves decreased $72 million; and estimated excess reserves increased $51 million to $609 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $5^7 million, compared with the revised figure of $435 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $209 million in U. S. Government securities bought outright and $6l million in member bank borrowings, and increases of $100 million in currency in circulation, $31 million in Treasury deposits with Federal Reserve Banks, and $23 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $66 million in U. S. Government securities held under repurchase agreement, $103 million in Federal Reserve float, and $53 million in gold stock. Total Reserve Bank credit decreased $101 million. As of Wednesday, August 16, 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 $16 million lower, and member bank borrowings were $357 million lower. Outright holdings of bills decreased $99 million; notes and bonds increased $7 million and $19 million respectively. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 16, Aug. 9, Aug . 17, Aug. 16, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 27,275 -209 + 463 27, 279 Held under repurchase agreement 196 + 66 - 33 132 Acceptances— Bought outright 34 w — + 3 32 Held under repurchase agreement 4 — — — — Discounts and advances-- Member bank borrowings 62 - 6l - 354 116 Other «• — — W. W mm Float 1,109 +103 + 133 1,310 Total Reserve Bank credit 28,676 -101 207 28,869 Gold stock 17,601 + 53 -1,438 17,602 Treasury currency outstanding 5,545 + 2 + 182 5,545 51,822 - ^7 -1, 049 52,016 Currency in circulation 32,664 +100 + 480 32,640 Treasury cash holdings 422 - 1 + 13 428 Treasury deposits with F. R. Banks 498 + 31 - 57 524 Foreign deposits with F. R. Banks 257 + 23 + 67 229 Other deposits with F. R. Banks 275 - 29 - 111 289 Other F. R. accounts (net) 1,039 + 15 + 135 1,112 35,155 +139 527 35, 222 Member bank reserves: With Federal Reserve Banks 16,667 -185 -1, 576 16, 794 Cash allowed as reserves (estimated) 2,520 +164 +2,199 2, 694 Total reserves held 19,187 - 21 + 623 19, 488 Required reserves (estimated) 18,578 - 72 4- 595 18,658 Excess reserves (estimated) 609 + 51 + 28 830 On August 16, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,170 million, a decrease of $6 million for the week and an increase of $766 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STAlEMEfJT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Aug. 16, Aug. 9, Aug. 17, 1961 1961 I960 A S S E TS Gold certificate account 16,291 1 -l, 46l Redemption fund for F. R. notes 1, o4o - 3 + 62 Total gold certificate reserves 17,331 - k -1,399 Cash // ((339922)) 396 + 8 - 12 Discounts and advances 116 - 335577 -- 336600 Acceptances: Bought outright 32 - - — — Held under repurchase agreement - - —- - 17 U. S. Government securities: Bought outright-- Bills 2,195 - 99 - 637 Certificates 1,710 —«• -13297 Notes 19,846 + 7 +12,336 Bonds 3,528 + 19 +1,044 Total bought outright 27,279 - 73 + 446 Held under repurchase agreement 132 16 - 119 - Total U. S. Government securities 27,411 89 + 327 - Total loans and securities 27,559 446 - 50 - Cash items in process of collection (1,157) 5,401 +1, 230 + 675 Bank premises 111 + 1 + 5 Other assets 158 - 127 - 13 TOTAL ASSETS (1,549) 50,956 + 662 - 794 L I A B I L I T I ES Federal Reserve notes™" ~ (392) 2277,,664488 4" 14 ++ 335577 Deposits: Member bank reserves 16,794 - 193 -1,571 U. S. Treasurer--general account 524 + 75 - 23 Foreign 229 - 26 + 37 Other 289 + 19 - 73 Total deposits 17,836 - 125 -1,630 Deferred availability cash items (1,157) 4,091 + 807 + 391 Other liabilities and accrued dividends 63 + 8 + 20 TOTAL LIABILITIES (1,549) 49,638 4* 704 - 862 C A P I T AL A C C O U N TS Capital paid In™ 429 — — + 27 Surplus 817 w mm + 42 Other capital accounts 72 42 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l, 549) 50,956 + 662 - 794 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 3377..88## + .1% --11..99## Contingent liability on acceptances purchased for foreign correspondents 143 - 52 w Jtr — — —***—***—w — VVUOWJ.AM.WWXW5 JJTX WWC OK? j see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 16, 196l (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 llip 10 - 27 16 days to 90 days 2 22 963 - 79 91 days to 1 year 11,536 +3,645 Over 1 year to 5 years 11,896 -3,631 Over 5 years to 10 years 2,234 + 2 Over 10 years 218 + 1 Total m 32 27,411 :—89 '

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 16, 196l San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis Citycisco (In millions of dollars) A S S E TS Gold certificate account 16,291 805 3,972 914 1,426 1,026 824 2,854 648 327 750 634 2,111 Redemption fund for F. R. notes 1,040 62 237 64 91 81 64 187 46 27 47 33 101 Total gold certificate reserves 17,331 867 4,209 978 1,517 1,107 888 3,041 694 354 797 667 2,212 F. R. notes of other Banks 392 37 112 35 11 23 53 20 8 20 16 15 42 Other cash 396 26 78 20 36 18 35 64 19 10 12 21 57 Discounts and advances 116 1 2 17 11 3 18 44 * 1 11 4 4 Acceptances: Bought outright 32 «• — 32 mm mm — — — — — — — — — — — — — — m, mm — — U. S. Government securities: Bought outright— Bills 2,195 117 554433 127 186 139 121 375 88 51 96 89 226633 Certificates 1,710 91 423 99 145 108 94 292 69 4o 74 70 205 Notes 19,846 1,056 4,908 1,146 1,683 1,256 1,091 3,391 799 465 865 806 2,380 Bonds 3,528 188 873 204 299 223 194 603 142 82 154 143 423 Total 27,279 1,452 6,747 1,576 2,313 1,726 1,500 4,661 1,098 638 1,189 1,10b 3,271 Held under repurchase agreement 132 132 -- -- -- -- -- — -- — — -- -- Total U. S. Government securities 27,411 1,452 6,879 1,576 2,313 1,726 1,500 4,66l 1,098 638 1,189 1,108 3 £71 Total loans and securities 27,559 1,453 6,913 1,593 2,324 1,729 1,518 4,705 1,098 639 1,200 1,112 3,275 Cash items in process of - • r • . - ' - - — • collection 6,558 438 1,288 4l6 557 472 503 1,089 261 187 336 265 746 Bank premises 111 4 9 4 8 6 13 24 7 5 6 14 11 Other assets 158 9 38 8 14 10 9 27 6 4 8 7 18 TOTAL ASSETS 52,505 2,834 12,647 3,054 4,467 3,365 3,019 9,970 2,093 1,219 2,375 2,101 6,361 * Less than $500,000

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST l6, 196l San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta Chicago Dallas Fran- York delphia land mond Louis apolis Citycisco (In millions of dollars) L I A B I L I T I ES Federal Reserve notes 28,040 1, 632 6,4ll 1, 820 2,527 2,200 1,613 5,210 1,202 558833 11,,116677 884477 22,,882288 Deposits: Member bank reserves 1166,,779944 669977 44,,552200 766 1,290 688 844 2,575 6o4 4i4 855 906 2,635 U.S. Treasurer-general account 524 19 AOi 33 26 43 49 64 25 24 30 26 84 Foreign 229 11 2/64 13 21 11 12 33 8 5 10 13 28 Other 289 1 241 l 1 3 l * * 1 2 1 37 Total deposits 17,836 728 4,926 813 1,338 745 906 2,672 637 444 897 946 2,784 Deferred availability cash items 5,248 407 931 342 476 356 442255 889911 208 115599 225522 223300 557711 Otiker liabilities and accrued dividends 63 3 19 3 5 3 3 10 2 3 3 2 7 TOTAL LIABILITIES 51,187 2,770 12, 287 2,978 4,346 3,304 2,947 8,783 2,049 1,189 2,319 2,025 6,190 CAPITAL ACCOUNTS "Capital paid in 429 21 117 25 40 20 23 60 14 10 18 25 56 Surplus 817 4o 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 72 3 14 3 6 4 5 11 3 l 3 4 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,505 2,834 12,647 ... 3,054 4,467 3,365 3,019 8,970 2,093 1,219 2,375 2.101 6,361 Contingent liability on acceptances purchased for foreign correspondents 143 7 22//ttOO 8 13 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,131 1,696 6,676 1,875 2,657 2,272 1,680 5,310 1,244 667 1, 200 894 2,960 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 28 -- - - 17 -- — — — — — — — — — — 11 — «•» «• U. S. Government securities 21,335 1,275 5,100 1,325 1,880 1,560 1,300 3,800 935 510 900 650 2,100 Total collateral 30, 438 1,770 7,100 1,992 2,750 2,295 1,775 5,500 1,315 68 0 1,236 925 3,100 y Alter deducting $165 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $103 million participations of other Federal Reserve Banks.