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.U.I September l4, 1961 The average of daily figures of total member bank reserves held during the week ended September 13 increased a net of $86 million to $19,203 million. Cash allowed as reserves increased $143 million and member bank reserve balances at the Federal Reserve Banks decreased $57 million. Estimated required reserves increased $3 million; and estimated excess reserves increased $83 million to $628 million• Excess reserves exceeded member bank borrowings at the Federal Reserve Bcnks by $601 million, compared with the revised figure of $488 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $37 million in U. S. Government securities bought outright and $30 million in member bank borrowings, and an increase of $173 million in currency in circulation. The principal offsetting change was an increase of $187 million in Federal Reserve float. Total Reserve Bank credit increased $121 million. As of Wednesday, September 13, holdings of U. S. Government securities bought outright were $96 million lower than a week earlier and member bank borrowings were $4l million lower. Outright holdings of bills and notes decreased $46 million and $50 million, respectively. Averages of daily figures Member bank reserves, Week ended j Change from week ended Wedne sday. Reserve Bank credit, Sept. 13, Sept. 6, Sept .. 14, Sept. 13 and related items 1961 ! 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 27,803 - 37 +1, 279 27,806 Held under repurchase agreement - 125 -- — Acceptances—bought outright 34 - 1 + 1 33 Discounts and advances- Member bank borrowings 27 - 30 272 27 - Other 1 + 1 1 5 - Float 1,186 +187 + 134 1,310 Total Reserve Bank credit 29,052 +121 +1, 0l6 29,181 Gold stock 17, ^51 -1,524 17,452 - - Treasury currency outstanding 5,553 - — 4- 179 5,553 52,055 +121 328 52,186 - Currency in circulation 32,836 +173 4- 545 32,8l6 Treasury cash holdings klk + 6 + 13 4l8 Treasury deposits with F. R. Banks 469 + 4 460 Foreign deposits with F. R. Banks 275 + 5 + 71 289 Other deposits with F. R. Banks 319 + 16 - 54 321 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) l, 088 - 23 + ll4 1,049 35,401 +177 + 693 35,353 Member bank reserves: With Federal Reserve Banks 16,655 - 57 -1, 021 16,833 Cash allowed as reserves (estimated) 2,548 +143 +1,642 2,845 Total reserves held 19,203 + 86 + 621 19,678 Required reserves (estimated) 18,575 + 3 8i4 18,694 Excess reserves (estimated) 628 + 83 193 984 - On September 13, 1961, U. S- Government securities held in custody by the Federal Reserve Banks for foreign account were $5*953 million, an increase of $07 million for the week and an increase of $582 million from the comparable date a year ago.

HA. 1(a) CONSOLIDATED STAl'EMEifJ? OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Sept. 13, Sept / • "6^ Sept. 14, 1961 1961 i960 A S S E TS Gold certificate account 16,117 25 - 1,558 - Redemption fund for F. R. notes 1,0 66 + 22 + 94 Total gold certificate reserves 17,183 3 - 1,464 - •Jf Cash (403) 392 + 6 — w Discounts and advances 32 36 - 105 - Acceptances--bought outright 33 1 + 1 U. S. Government securities: Bought outright-- Bills 2,765 46 + 189 - Certificates 1,683 -12,324 -- Notes 19,822 50 +12, 312 - Bonds 3,536 + 1,052 Total bought outright 27,806 9966 + 1,229 - Held under repurchase agreement - — -- Total U. S. Government securities 27,806 9966 + 1,229 - Total loans and securities 27,871 133 + 1,125 - Cash items in process of collection (968) 5,010 + 997 68 Bank premises 110 + 4 -- Other assets 221 + 16 23 TOTAL ASSETS (l,371) 50,787 + 883 - 426 L I A B I L I T I ES Federal Reserve notes (403) 27,804 - 9 + 457 Deposits: Member bank reserves 16,833 + 253 -- 887766 U. S. Treasurer—general account 460 - 97 + 29 Foreign 289 + 15 + 65 Other 321 3 50 - Total deposits 17,903 + 168 - 832 Deferred availability cash items (968) 3,700 + 767 - 151 Other liabilities and accrued dividends 66 + 1 + 26 TOTAL LIABILITIES (l,371) 49,473 + 927 - 500 C A P I T AL A C C O U N TS Capital paid in 431 + 1 + 29 Surplus 817 + 42 Other capital accounts 66 4455 + 3 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS(l,371) 50,787 883 - 426 4- Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 37.3# - .1/0 - 2.8% Contingent liability on acceptances purchased for foreign correspondents 132 - 3 67 Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on the following pages. MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, SEPTEMBER 13, 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 8 402 l6 days to 90 days 1 25 1,203 91 days to 1 year 11,789 -62 Over 1 year to 5 years 11,934 Over 5 years to 10 years 2,254 Over 10 years 224 Total 32 33 27,806 4%)

.2.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 13, 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 dollars) A S S E TS Gold certificate account 16,117 720 4,216 869 1,364 1,061 804 2,746 623 308 726 605 2,075 Redemption fund for F. R. notes 1,066 62 . .24j 63 91 88 64 191 45 26 47 34 110 Total gold certificate reserves 17,183 782 4,46l 932 1,455 1,149 868 2,937 668 334 773 639 2,185 F. R. notes of other Banks 403 48 95 36 12 22 56 21 9 19 17 16 11 Other cash 392 25 81 21 33 22 33 65 19 9 10 18 Discounts and advances 32 * 17 1 3 1 6 l * * 2 l -- Acceptances: Bought outright U. S. Government securities: 33 — -* 33 - - — —- - - - - - - Bought outright-- Bills 2,765 147 684 160 234 175 152 473 ill 64 121 112 332 Certificates 1,683 90 4l6 97 143 106 93 287 68 4o 73 68 202 Notes 19,822 1,055 4,902 1,145 1,681 1,255 1,090 3,387 798 463 864 805 2,377 Bonds _._3^a6 188 .. 8ll„ 204 300 224 194 6o4 142 83 154 144 424 Total 27,806 l,48o 6,877 1,606 2,358 1,760 1,529 4,751 1,119 650 1,212 1,129 3,335 Held under repurchase agreement Total U. S. Government securities 27,806 i,48o 6,877 1,606 2,358 1,760 1,529 4,751 1,119 650 1,212 1,129 3,335 Total loans and securities 27,871 1,480 6,927 1,607 2,361 1, 761 1,535 4,752 1,119 650 1,214 1,130 3,335 Cash items in process of collection 5,978 405 1,104 357 476 459 468 975 283 191 315 261 684 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 221 12 54 13 19 12 13 37 9 6 10 9 27 TOTAL ASSETS 52,158 2,756 12,731 2,970 4,364 3,431 2,986 8,811 2,114 1,214 2,345 2,086 6,350 1 * Less than $500,000.

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 13, 196l San Total Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas 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 28,207 1,643 6,430 1,819 2,538 2,254 1,608 5,232 1,204 581 1,171 851 2,876 Deposits: Member bank reserves 16,833 640 4,836 738 1, 229 697 858 2,499 603 411 815 895 2,612 U.S. Treasurer-general account 460 40 ^5 22 34 39 33 56 21 23 49 37 6l Foreign 289 13 1/94 16 25 13 14 38 9 6 12 16 33 Other 321 * 273 1 1 3 l 1 1 1 1 1 37 Total deposits 17,903 693 5,248 777 1,289 752 906 2, 594 634 441 877 949 2,743 Deferred availability cash items 4, 668 353 677 295 411 360 397 787 229 160 239 208 552 Other liabilities and accrued dividends 66 3 „ 17 3 5 5 4 11 3 2 2 3 8 TOTAL LIABILITIES 50,844 2,692 12,372 2,894 4,243 3,371 2,915 8,624 2,070 1,184 2,289 2,011 6,179 - - ••••»-• - - •- 1, -A ..w. • CAPITAL ACCOUNTS Capital paid in 431 21 118 25 40 20 g 61 14 10 18 25 56 Surplus 817 40 229 48 75 37 116 27 19 35 47 100 Other capital accounts 66 3 12 3 6 3 4 10 3 1 3 3 15 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,158 2,756 12,731 2,970 4,364 3,431 2,986 8,811 2,114 1, 214 2,345 2,086 6,350 Contingent liability on acceptances purchased for foreign correspondent s 132 6 -/ 37 8 12 6 7 19 4 3 6 8 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,282 1,703 6,665 1,868 2,667 2,335 1,678 5,335 1,255 661 1,205 909 3,001 Collateral for F. R. notes: Gold certificate account 9,095 495 2,000 650 870 755 475 1,700 380 170 325 275 1,000 Eligible paper 3 1 * 2 U. S. Government securities 21,380 1,275 5,100 1,325 l, 880 1,605 1,300 3,800 935 510 900 650 2,100 Total collateral 30,478 1,770 7,100 1,976 2,750 2,360 1,775 5,500 1,315 680 1,227 925 3,100 1/ After deducting $195 million participations of other Federal Reserve Banks. 2/ After deducting $ 95 million participations of other Federal Reserve Banks. * Less than $500,000.