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 October 5, 1961 The average of daily figures of total member bank reserves held during the week ended October 4 increased a net of $33 million to $19;552 million. Cash allowed as reserves decreased $132 million and member bank reserve balances at the Federal Reserve Banks increased $165 million. Estimated required reserves increased $154 million; and estimated excess reserves decreased $121 million to $535 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $501 million, compared with the revised figure of $629 million the week before. The principal change supplying average reserve balances with Federal Reserve Banks was an increase of $626 million in U. S. Government securities bought outright. The principal offsetting changes were decreases of $391 million in Federal Reserve float and $71 million in gold stock, and an increase of $6l million in currency in circulation. Total Reserve Bank credit increased $251 million. As of Wednesday, October 4, holdings of U. S. Government securities bought outright were $851 million higher than a week earlier and member bank borrowings were $l6 million lower. Outright holdings of bills, certificates, notes, and bonds increased $711 million, $11 million, $39 million, and $90 million, respectively. NOTE: Because October 12 (Columbus Day) is a holiday at several Reserve Banks, next week's statement will be issued on Friday, October 13. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended Wedne sday, Reserve Bank credit, Oct. 4, Sept. 27, Ocl 5, Oct. 4, and related items 1961 1961 I960 1961 ' (In millions of do] LLiiaarrss)) Reserve Bank credit: U. S. Government securities- Bought outright --System account 27,823 +626 + 987 27,932 Held under repurchase agreement 11 + 8 181 — — Acceptances-- Bought outright 34 — — - 1 34 Held under repurchase agreement - - - 7 Discounts and advances-- Member bank borrowings 34 + 7 166 66 - Other 2 — — - 17 2 Float 1, 332 -391 4* 236 l, 187 Total Reserve Bank credit 29, 237 +251 Hh 852 29,221 Gold stock 17,380 - 71 -1, 29-1 17,351 Treasury currency outstanding 5, 56# • + 2 4- 185 5,564 52,129*0 . +182 254 52,136 - Currency in circulation 32,673^ • + 6l -f 624 32,739 Treasury cash holdings 4igM . - 2 + 9 419 Treasury deposits with F. R. Banks 422 - 14 45 481 — Foreign deposits with F. R. Banks 300 + 4 + 87 241 Other deposits with F. R. Banks 281 - 39 - 162 293 Other F. R. accounts (net) 1,054 + 5 + 118 1,051 35; 14,23 » + 15 + 631 35,224 Member bank reserves: With Federal Reserve Banks 17,036 +165 - 886 16,912 Cash allowed as reserves (estimated) 2, 516 -132 +1,679 2, 587 Total reserves held 19,552 + 33 + 793 19,499 Required reserves (estimated) 19,017 +154 + 868 18,986 Excess reserves (estimated) 535 -121 75 513 - On October 4, 1961, U. 8. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,129 million, an increase of $78 million for the week and an increase of $602 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change slnde Oct. 4, Sept ' 27, Oct. 5, 1961 1961 i960 A S S E TS Gold certificate account 16,009 - 100 - l, 357 Redemption fund for F. R. notes 1,065 -- 4* 92 Total gold certificate reserves 17,074 100 1,265 - - Cash (421) 400 15 4- 5 Discounts and advances 68 - 16 - 6699 Acceptances: Bought outright 34 + 1 - 1 Held under repurchase agreement 6 -- -- - U. S. Government securities: Bought outright— Bills 3,071 + 711 4- 172 Certificates 1,632 4- 11 -12,375 Notes 19,678 + 39 +12,168 Bonds 3,551 + 90 + 1,067 Total "bought outright 27,932 + 851 + l, 032 Held under repurchase agreement — — -- - 150 Total U. S. Government securities 27,932 4- 851 + 882 Total loans and securities 28,034 + 836 + 806 Cash items in process of collection (997) 4,674 - 85 + 401 Bank premises 110 + 3 Other assets 283 + 39 - 10 TOTAL ASSETS (1,4l8) 50,575 + 675 - ' 60 L I A B I L I T I ES Federal Reserve notes (421) 27,717 + 124 + 450 Deposits: Member bank reserves 16,912 602 - 905 U. S. Treasurer—general account 481 - 4 + 105 Foreign 241 - 112 + 47 Other 293 -• 5 - 94 Total deposits 17,927 4- 48i - 847 Deferred availability cash items (997) 3,487 + 28 + 227 Other liabilities and accrued dividends 86 + 26 + 43 TOTAL LIABILITIES (1,4i8) 49,217 + 659 127 - C A P I T AL A C C O U N TS Capital paid in 432 -- + 29 Surplus 817 + 42 Other capital accounts 109 + 16 - 4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 4l8) 50,575 4- 675 - 60 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 37.1% •6fo 2.4# - - Contingent liability on acceptances purchased for foreign correspondents 123 - 2 - 79 * 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, OCTOBER 4, 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 65 10 436 +209 16 days to 90 days 3 24 1,027 - 86 91 days to 1 year -- -- 12,046 +647 Over 1 year to 5 years -- -- 11,917 + 53 Over 5 years to 10 years — -- 2,276 + 22 Over 10 years — — 230 + 6 Total SB 35 27,932 +551

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK Oil OCTOBER 4, 1961 San Total Boston NNeeww Phila- Cleve- Rich- Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass Fran- York delphia land mond Louis apolis City cisco "Tin millions of dollars) A S S E TS Gold certificate account 16,009 702 4,262 899 1,382 1,063 738 2,667 590 299 687 640 2,080 Redemption fund for F. R. notes 1,065 67 242 65 91 86 63 190 45 26 46 34 no Total gold certificate reserves 17,074 769 4,504 964 1,473 1,149 801 2,857 635 325 733 6?4 2,190 F. R. notes of other Banks 421 48 112 42 14 20 57 25 9 20 15 18 41 Other cash 400 25 83 22 33 22 34 68 18 9 11 16 59 Discounts and advances 68 2 25 1 4 5 3 15 3 6 3 1 * Acceptances: Bought outright 34 -- 34 - — - — - - -- — -- -- " - - U. S. Government securities: Bought outright— Bills 3,071 164 760 177 260 194 169 525 123 72 134 125 368 Certificates 1,632 87 403 94 138 103 90 279 66 38 71 67 196 Notes 19,678 1,047 4,867 1,137 1,669 1,245 1,082 3,362 792 460 858 799 2,360 Bonds 3,551 189 878 205 301 225 195 607 143 83 155 144 426 Total 27,932 1,487 6,908 1,613 2,368 1,767 1,536 4,773 1,124 653 1,218 1,135 3,350 Held under repurchase agreement Total U. S. Government securities 27,932 1,487 6,908 1,613 2,368 1,767 1,536 4,773 1,124 653 1,218 1,135 3,350 Total loans and securities 28,034 1,489 6,967 l,6l4 2,372 1,772 1,539 4,788 1,127 659 1,221 1,136 3,350 Cash items in process of collection 5,671 403 1,150 347 439 425 390 889 247 176 282 253 670 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 28S 13 64 15 43 17 15 45 10 6 12 11 32 TOTAL ASSETS 51,993 2,751 12,889 3,008 4,382 3,411 2,849 8,696 2,053 1,200 2,280 2,121 6,353 j * Less than $500,000.

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 4, 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 dol] .ars) L I A B I L I T I ES Federal Reserve notes 28,138 1,636 6,406 1,814 2,531 2,277 1,605 5,214 1,203 577 1,166 846 2,863 Deposits: Member hank reserves 16,912 645 4,917 789 1, 282 695 780 2,458 569 424 776 931 2,646 U.S. Treasurer-general account 481 35 66 30 34 23 39 52 32 20 52 33 65 Foreign 241 12 1/64 14 23 11 13 35 8 6 11 14 30 Other 293 * 243 1 1 5 1 1 * * 1 1 39 Total deposits 17,927 692 5,290 834 1,340 734 833 2,546 609 450 840 979 2,780 Deferred availability cash items 4,484 354 807 278 359 333 333 730 193 l4l 214 216 526 Other liabilities and accrued dividends 86 3__ 16 4 27 3 4 12 2 1 3 3 8 TOTAL LIABILITIES 50/635 2,TsjT 12,519 2,930 4,257 3,347 2,775 8,502 2, 007 1,169 2,223 2,044 6,177 CAPITAL ACCOUNTS Capital paid in 432 21 118 25 4o 20 23 61 15 10 18 25 56 Surplus 817 4o 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 109 5 23 5 10 7 7 17 4 2 4 5 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,993 2,751 12,889 3,008 4,382 3,411 2,849 8,696 2,053 1, 200 2,280 2,121 6,353 Contingent liability on acceptances purchased for foreign correspondent s 123 6 2/34 7 12 6 7 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,190 1,707 6,656 1,865 2, 676 2,334 1,668 5,314 1,245 655 1,196 899 2,975 Collateral for P. R. notes: Gold certificate account 9,065 495 2,000 620 870 755 475 1,700 380 170 325 275 1,000 Eligible paper 7 1 3 3 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 30,552 l, 770 7,100 1,946 2, 750 2,360 l, 775 5, 500 1,318 680 1,228 925 3, 200 l/ After deducting $177 million participations of other Federal Reserve Banks. * Less than $500,000. 2/ After deducting $ million participations of other Federal Reserve Banks.