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. Ba.ks ^ i a te release Por E-4.1 August 31, I96I The average of daily figures of total member bank reserves held durin" the week ended August 30 decreased a net of $43 million to $19,159 million. Cash allowed as reserves increased $85 million and member bank reserve balances at the Federal Reserve Banks decreased $128 million. Estimated required reserves decreased $58 million; and estimated excess reserves increased $15 million to $612 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $575 million, compared with the revised figure of$560 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $309 million in Federal Reserve float and $23 million in gold stock. The principal offsetting changes were an increase of $79 million in Federal Reserve holdings of U. S. Government securities and a decrease of $120 million in currency in circulation. Total Reserve Bank credit decreased $234 million. As 01 Wednesday, August 30, holdings of U. S. Government securities bought outright were $243 million higher than a week earlier and member bank borrowings were $12 million higher. Outright holdings of bills, notes, and bonds increased $211 million, $18 million, and $14 million, respectively. Averages of daily figures Member "bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Aug. 30, Aug. 23, Aug. 31, Aug. 30, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 27,276 + 85 + 594 27,259 Held under repurchase agreement - 6 - 106 Acceptances— Bought outright 33 - 1 + 1 32 Held under repurchase agreement 1 Discounts and advances-- Member bank borrowings 37 - 236 59 Other Float 1,101 + 313 923 Total Reserve Bank credit &S,447 + 565 25,273 Gold stock 17,579 -1,426 17,452 Treasury currency outstanding 5,552 + 182 _2I253 51,578 - 680 51,277-$ Currency in circulation 32,474 4- 494 32,521 Treasury cash holdings 416 + 21 422 Treasury deposits with F.R. Banks 498 + 11 525 Foreign deposits with F. R. Banks 230 4- 5 226 Other deposits with F. R. Banks 298 86 290 Other F. R. accounts (net) 1,109 5 1,108 35,025 -122 + 539 35,092 Member bank reserves: With Federal Reserve Banks 16,554 -128 -1,218 16,185 Cash allowed as reserves (estimated) 2,605 ±85 +i,9io 2,864 Total reserves held 19,159 TIJ3 + 692 19,049 Required reserves (estimated) 18,547 - 58 + 719 18,574 Excess reserves (estimated) 612 + 15 - 27 475 On August 30, 1961, U. S. Government securities hsldin custody by the Federal Reserve Banks for foreign account were $5,968 million, a decrease of $43 million for the week and an increase of $545 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OP CONDITldN OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since ; Aug. 30, Aug. 23, Aug. 31, 1961 1961 I960 A S S E TS Gold certificate account 16,142 -149 - 1,594 Redemption fund for F. R. notes 1,045 - 2 + 72 Total gold certificate reserves 17,107 -151 - 1,522 * Cash (437) 4l6 + 1 13 Discounts and advances 59 - 3 - 346 Acceptances: Bought outright 32 mm mm — — Held under repurchase agreement 1 U. S. Government securities: Bought outright-- Bills 2,268 +211 - 371 Certificates 1,683 — — -12,324 Notes 19,795 + 18 +12,285 Bonds 3,513 + 14 + 1,029 Total bought outright 27,259 +543 + 619 Held under repurchase agreement - 122 — Total U. S- Government securities 27,259 +2%3 + 497 Total loans and securities 27,350 +240 + 150 Cash items in process of collection (1,010) 4,047 -333 + 333 + 6 Bank premises 111 Other assets 184 + l4 23 TOTAL ASSETS (1,44?) 49,295 -229 - 1,069 L I A B I L I T I ES Federal Reserve notes (437) 27,541 + 9 + 362 Deposits: Member bank reserves 16,185 + 7 -1,550 U. S. Treasurer--general account 525 - 50 + 44 Foreign 226 - 18 + 22 Other 290 - 3 142 Total deposits 17,226 - 64 - 1,626 Deferred availability cash items (1,010) 3,124 -190 + 117 Other liabilities and accrued dividends 58 + 2 + 16 TOTAL LIABILITIES (1,44?) 47,949 -243 - 1,131 C A P I T AL A C C O U N TS Capital paid in 430 + 28 Surplus 817 — — + 42 Other capital accounts 99 + 14 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS(1,44?) 49,295 -229 - 1,069 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shorn on the following pages--not consolidated) 38.0$ - 2.3# Contingent liability on acceptances purchased for foreign correspondents 136 - 3 68 * Figures in parentheses are the-eliminations-made in therrsonsolidating process; see comparable figures on combined' basis .on following .pages. MATURITY DISTRIBUTION ON LOANS AND SECURITIES,' AUGUST 30, 19&1 (Acceptances and securities held under repurchase agreement ard" classifies' 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 JL5 days . • • 57 %35 rm Ct6 days to 90/days 2 20 1,059 +137 91 days to 1 year - -- 11,601 +201 Over l.year to 5 years - — 11,900 + 4 Over 5 years to 10 years - — 2,246 + 12 Over 10 years - -- 218 Total 5F 32" 27,259 +243

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 30, 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 doll .ars) A S S E TS • . • Gold certificate account 16,142 771 4, 081 891 1,330 1,084 792 2,802 654 317 723 646 2, 051 Redemption fund for F. R. notes 1,045 62 235 64 92 89 64 187 45 27 47 33 100 Total gold certificate reserves 17,187 833 4,316 955 1, 422 11,,117733 885566 22,,998899 669999 334444 777700 667799 22,,115511 F. R. notes of other Banks 437 47 115 37 14 2244 6611 2288 1122 2233 1188 1177 44ii Other cash 4l6 26 88 21 37 2222 3388 6666 2211 99 1111 2211 5566 Discounts and advances 59 3 22 2 2 3 5 Acceptances: Bought outright 32 32 U. S. Government securities: Bought outright-- Bills 2, 268 120 561 131 192 144 125 Certificates 1, 683 90 4i6 97 143 106 93 Notes 19,795 1,054 4,895 l, 143 1,678 1,253 1,088 Bonds 3,513 187 869 203 299 222 193 on 1 on oj 00 vo co co co 0 co co c— on 0 1 1 7 5 * 91 53 99 92 272 68 4o 73 68 202 797 463 863 8o4 2, 374 l4l 82 153 14% 421 Total 27,259 1,451 6,741 l, 574 2,312 1,725 1,499 4,658 1,097 638 1,188 1,107 3,269 Held under repurchase agreement Total U. S. Government securities 27, 259 ii.451 6,741 1,574 2,312 1,725 1,499 4,658 1,097 638 1,188 1.107 3. 269 Total loans and securities 27,350 1,454 6,795 1, 576 2, 314 1,728 1,504 4,666 1,098 639 1,195 1,112 3,269 Cash items in process of collection 5,057 363 944 317 420 393 366 830 212 156 253 224 579 Bank premises 111 4 9 4 8 6 13 24 7 5 6 14 11 Other assets 184 10 45 11 15 12 11 31 7 3 9 8 22 TOTAL ASSETS 50,742 2,737 12,312 2,921 4,230 3,358 2,849 8,634 2,056 l, 179 2, 262 2,075 6,129 * Less than $500,000

E-4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 30, 1961 San Boston New Phila- Cleve- Rich- Atlanta Chicago st* Minne- Kansas Fran- Total Dallae York delphia land mond Louis apolis City cisco (In millions of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,978 1,626 6,394 1,813 2,518 2,224 1,601 5,197 1,195 579 1,162 845 2,824 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 16,185 648 4,452 728 1,181 679 812 2,453 585 403 794 913 2,537 UUUUU.....SSSSS..... TTTTTrrrrreeeeeaaaaasssssuuuuurrrrreeeeerrrrr-----gggggeeeeennnnneeeeerrrrraaaaalllll aaaaaccccccccccooooouuuuunnnnnttttt 525 35 51 33 31 60 34 60 50 26 39 34 72 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 226 11 1/67 13 21 10 12 31 7 5 9 13. 27 290 # "243 1 *2 1 2 4* 2 * 35 OOOOOttttthhhhheeeeerrrrr TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 17,226 694 4,813 775 1,233 751 859 2,546 646 4j4 844 960 2,671 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,134 349 723 253 350 317 313 689 167 134 197 191 451 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 58 3 15 3 5 3 3 9 3 1 23 8 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 4499,,339966 2.,672 11,945 2,844 4,106 3,295 2,776 8,44l 2,011 1,148 2,205 1,999 5,954 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 443300 21 117 25 40 20 23 61 14 10 18 25 56 SSSSSuuuuurrrrrpppppllllluuuuusssss 881177 4o 229 48 75 37 44 116 27 19 35 47 100 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 9999 4 21 4 9 6 6 16 4 2 4 4 19 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 5500,,774422 2,737 12,312 2,921 4,230 3,358 2,849 8,634 2,056 1,179 2,262 2,075 6,129 CCCCCooooonnnnntttttiiiiinnnnngggggeeeeennnnnttttt llllliiiiiaaaaabbbbbiiiiillllliiiiitttttyyyyy ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 136 6 2/38 8 13 6 7 19 5 3 6 8 17 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 2299,,115533 "17693"" 6,667 1,867 2,660 2,297 1,673 5,328 1,242 663 1,201 095 CCoollllaatteerraall ffoorr FF.. RR.. nnootteess:: 495 2,000 650 870 735 475 1,700 380 170 325 275 1,000 GGoolldd cceerrttiiffiiccaattee aaccccoouunntt 99,,007755 EElliiggiibbllee ppaappeerr 1100 UU.. SS.. GGoovveerrnnmmeenntt sseeccuurriittiieess ••2211,,338800,, 1.275 5.100 1.125 1.880 1.605 1,300 3.800 935 510 900 650 2,100 1,770 7,100 1,977 2,750 2,340 1,775 5,500 1,316 680 1,232 925 3,100 TToottaall ccoollllaatteerraall 3300,,446655 1/ After deducting $159 million participations of other Federal Reserve Banks. 2/ After deducting $ 98 million participations of other Federal Reserve Banks. * Less than $500,000.