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 September 28, 1961 The average of daily figures of total member bank reserves held during the week ended September 27 increased $25 million to $19,$00 million, which included an increase of $10 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $40 million; and estimated excess reserves increased $65 million to $631 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $6o4 million, compared with the revised figure of $522 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were decreases of $163 million in currency in circulation and $130 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $130 million in Federal Reserve holdings of U. S. Government securities and $120 million in Federal Reserve float. Total Reserve Bank credit decreased $265 million. As of Wednesday, September 27, holdings of U- S. Government securities bought outright were $327 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $70 million lower, and member bank borrowings were $120 million lower. Averages of daily figures Member bank reserves, Week ended Change from week endecL Wednesday, Reserve Bank credit, Sept. 27, Sept. 20, Sept . 28, Sept.27, and related items 1961 1961 I960 1961 (]E n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 27,197 -123 + 741 27,081 Held under repurchase agreement 3 - 7 - 80 -»— Acceptances--bought outright 34 33 -- -- Discounts and advances-- Member bank borrowings 27 - 17 - 198 82 Other 2 + 1 - 17 2 Float l, 723 -120 + 481 1, 300 Total Reserve Bank credit 28,986 -265 4- 927 28,495 Gold stock 17,451 -1; ,280 17, 452 — — Treasury currency outstanding 5,560 + 6 + 185 5,562 51,997 -260 - 167 51,512 Currency in circulation 32,612 -163 + 608 32,602 Treasury cash holdings 4i4 + l 4- 15 4i6 Treasury deposits with F. R. Banks 436 -130 143 485 Foreign deposits with F. R. Banks 296 + 14 + 96 353 Other deposits with F. R. Banks 320 + 7 - 58 298 Other F. R. accounts (net) l, 049 + 1 + 115 1,048 35,127 -270 4- 633 35,202 Member bank reserves: With Federal Reserve Banks 16,871 + 10 800 16,310 Cash allowed as reserves (estimated) 2,629 + 15 +1,691 2,911 Total reserves held 19,500 + 25 4- 891 19, 221 Required reserves (estimated) 18,869 - 4o 4- 778 18,818 Excess reserves (estimated) 631 + 65 4- 113 403 On September 27, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,051 million, an increase of $135 million for the week and an increase of $557 million from the comparable date a year ago.

II.4 .l(a) Oiv CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Se-ot. 27, Sept. 20, Sepc. 28 196.1 1961 i960 A S S E TS Gold certificate account 16,109 2 1,318 Redemption fund for F. R. notes 1,065 4 4- 88 Total gold certificate reserves 17,174 6 1,230 Cash (462) 415 + 7 + 11 Discounts and advances 84 - 119 - 533 Acceptances--bought outright 33 - - — — U. S. Government securities: Bought outright-- Bills 2,360 - 327 312 - Certificates 1,621 -12,386 «•* — Notes 19,639 +12,129 — — Bonds 3,461 + 977 — — Total bought outright 27,081 - 327 + 408 Held under repurchase agreement - 70 107 - - - Total U. S. Government securities 27,081 - 397 + 301 Total loans and securities 27,198 - 516 232 - Cash items in process of collection (l,037) K 759 -1,434 + 412 Bank premises 110 + 4 — Other assets 244 + 17 - 29 TOTAL ASSETS (1,499) 49,900 -1,932 1,064 - L I A B I L I T I ES Federal Reserve notes (462) 2277,,559933 - 83 + 482 Deposits: Member bank reserves 16,310 - 843 l, 748 - U. S. Treasurer--general account 485 - 74 - 69 Foreign 353 + 84 + 169 Other 298 - 23 - 84 Total deposits 17,446 - 856 1,732 - Deferred availability cash items (1,037) 3>59 -1, co4 + 99 Other liabilities and accrued dividends 60 4 + 19 TOTAL LIABILITIES (1,499) 48,558 -1,947 1,132 - C A P I T AL A C C O U N TS Capital paid in 432 + 29 — — Surplus 817 + 42 — Other capital accounts 93 + 15 - 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,499) 49,900 -1,932 1,064 - 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$ + -l1o - 1.6$ Contingent liability on acceptances purchased for foreign correspondents 125 1 80 - * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOANS AMD SECURITIES, SEPTEMBER 27, 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 8z0 «- 9 227 -224 16 days to 90 days % >f » 24 1,113 - 95 91 days to 1 year 11,399 - 78 - - Over 1 year to 5 years 11,864 — — — — Over 5 years to 10 years — ~ 2,254 *» — Over 10 years — •» 224 — — w Total 8% 33 27,081 -397

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 196I San Total Boston New Phila- Cleve- Rich- Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass Fran- York delphia land mond Louis apolis City cisco (In millions of dol] Lars) A S S E TS Gold certificate account 16,109 704 4,027 924 1,380 1,116 778 2,827 629 316 709 636 2,063 Redemption fund for F. R. notes 1,065 67 242 . 65 __ 91 86 63 190 45 26 46 34 no Total gold certificate reserves 17,174 771 4,269 989 1,471 1,202 84l 3,017 674 342 755 670 2,173 F. R. notes of other Banks 462 54 113 43 17 23 61 26 13 21 16 21 54 Other cash 415 25 86 22 32 24 36 69 19 10 12 18 62 Discounts and advances 84 * 26 1 2 9 4 20 3 * 77 1 1111 Acceptances: Bought outright 3333 mm mm 3333 mm mm mm mm __ U. S. Government securities: Bought outright— Bills 2,360 12 6 583 136 200 149 130 403 95 55 103 96 284 Certificates 1,621 86 401 94 137 103 89 277 65 38 71 66 194 Notes 19,639 1,046 4,857 1,134 1,665 1,243 1,080 3,356 791 459 856 797 2,355 Bonds 3,461 184 85b 200 294 219 190 591 139 81 151 141 415 Total 27,081 1,442 6,697 1,564 2,296 1,714 1,489 4,627 1,090 633 1,181 1,100 3,248 Held under repurchase agreement — *» — » — — —«— — — — — -» — mm mm m* wm mm * mm Total U.S. Government securities 27,081 1,442 6,697 1,564 2,296 1,714 1,489 4,627 1,090 633 1,181 1,100 3,248 Total loans and securities 27,198 1,442 6,756 1,505 2,298 1,723 1,493 4,647 1,093 633 1,188 1,101 3,259 Cash items in process of collection 5,796 420 1,156 367 460 423 393 892 238 ;?2 303 262 710 Bank premises 110 4 9 4 8 6 13 24 7 * 5 6 13 11 Other assets 244 13 59 14 22 16 l4 4l 10 5.- 10 11 29 TOTAL ASSETS 51,399 2,729 12,448 3,oo4 4,308 3,417 2,851 8,716 2,054 1,188 2,290 2,096 6,298 * Less than $500,000.

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 27, 1961 | San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston AAttllaannttaa CChhiiccaaggoo 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 28,055 1,633 6,400 1,813 2,530 2,260 1, 594 5,208 1,196 576 l, 158 846 2,841 Deposits: Member bank reserves 16,310 585 4,542 734 1,225 691 803 22,,447733 588 44iill 778844 889955 2,579 U.S. Treasurer-general account 485 37 ,63 50 18 34 31 58 21 16 43 35 79 Foreign 353 15 1/129 18 29 l4 17 44 11 7 13 18 38 Other 298 1 246 2 1 4 1 2 * * 2 * 39 Total deposits 17,446 638 4,980 804 1,273 743 30 LfN CVI 2,577 620 434 842 948 2,735 Deferred availability cash items 4,496 390 687 307 377 349 329 729 190 145 230 223 540 Other liabilities and accrued dividends 60 3 14 3 5 3 3 10 3 2 3 3 88 TOTAL LIABILITIES 50,057 2,664 12,081 2,927 4,185 3,355 2,778 8,524 2,009 1,157 2,233 2,020 6,124 CAPITAL ACCOUNTS Capital paid in 432 21 118 25 4o 20 23 6l 15 10 18 25 56 Surplus 817 40 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 93 4 20 4 8 5 6 15 3 2 4 4 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ..51,399„. 2,729 12,448 3,004 4,308 3,417 2,851 8,716 2,054 1,188 2,290 2,096 6,298 Contingent liability on acceptances purchased for foreign corre spondents 125 6 22// 3355 7 12 6 7 1188 4 3 5 7 1155 FEDERAL :R ESERVE AGENTS' . ACCOUNTS F. R. notes outstanding 29,205 1,705 6,654 1,858 2,676 2,332 l, 668 5,317 1,245 656 1,201 903 2,990 Collateral for F. R. notes: Gold certificate account 9,065 495 2,000 620 870 755 447755 1,700 338800 170 325 275 1,000 Eligible paper 11 -- -- 1 -- - - -- - - 3 -- 7 -- " U. S. Government securities 21,480 1,275 5,100 1,325 1,880 1,605 1,300 3,800 935 510 900 650 2,200 Total collateral 30,556 1,770 7,100 1,946 2,750 2,360 1,775 5,500 1,318 680 1,232 925 3,200 _ _ other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ 90 million participations of other Federal Reserve Banks,