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 13, 196l The average of daily figures of total member bank reserves held during the v/eek ended October 11 decreased $142 million to $19,459 million. Cash allowed as reserves decreased $111 million and member bank reserve balances at the Federal Reserve Banks decreased $31 million. Estimated Required reserves decreased $178 million, and estimated excess reserves increased $36 million to $526 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $497 million, compared with the revised figure of $456 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $75 million in Federal Reserve float and $30 million in gold stock, and increases of $213 million in currency in circulation, $28 million in Treasury deposits with Federal Reserve Banks, and $82 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of <£>320 null ion in U. S. Government securities bought outright and $4l million held under repurchase agreement, and a decrease of $39 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $280 million. As of Wednesday, October 11, holdings of U. S. Government securities bought outright were $218 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $126 million higher, and member bank borrowings were $2( million higher. Outright holdings of bills, certificates, notes, and bonds increased $119 million, $7 million, $60 million, and $32 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 11, Oct. 4, Oct • 12, Oct. 11, and related items 1961 1961 ' i960 1961 (In millions of dollars) Reserve Bank credit: U. 8. Government securities-- Bought outright--System account 28,143 +320 +1, . 007 28,150 Held under repurchase agreement 52 + 4i 80 126 - Acceptances-- Bought outright 35 mm mm 34 Held under repurchase agreement 6 -- - Discounts and advances-- Member bank borrowings 29 - 5 119 93 Other 2 18 2 - - - Float 1, 257 - 75 4- 219 1,102 Total Reserve Bank credit 29,517 +280 +1, co4 29, 507 Gold stock 17,350 - 30 -1,265 17,351 Treasury currency outstanding 5,565 + 3 + 185 5,566 52, 433 +254 79 52,424 - Currency in circulation 32,88b +213 •f* 610 33,045 Treasury cash holdings 417 + 5 9 419 Treasury deposits with F. R. Banks 450 + 28 - 24 549 Foreign deposits with F. R. Banks 261 - 39 + 59 238 Other deposits with F. R. Banks 363 + 82 16 322 - Other F. R. accounts (net) 1,052 - 2 + 120 1,049 35,429 +287 4- 757 35,622 Member bank reserves: With Federal Reserve Banks 17,005 - 31 835 16,802 Cash allowed as reserves (estimated) 2,454 -ill +1,654 2, 8l6 Total reserves held 19,459 -142 + 819 19, 618 Required reserves (estimated) 18,933 -178 + 982 18,964 Excess reserves (estimated) 526 + 36 163 654 - On October 11, 1961, U. 8. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,196 million, an increase of $67 million for the week and an increase of $6l8 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 since Oct. 11, Oct . 4, Oct . 12, 1961 1961 i960 A S S E TS Gold certificate account 16,008 1 1,332 - - Redemption fund for F. R. notes 1,062 3 4* 82 - Total gold certificate reserves 17,070 - 4 - 1,250; Cash (3^3) 380 ~ 20 + 2 Discounts and advances 95 + 27 - 48 Acceptances: Bought outright 3344 •- - 3 Held under repurchase agreement -- -- - 3 U. S. Government securities: Bought outright— Bills 3,190 + 119 57 - Certificates 1,639 + 7 -12,368 Notes 19,738 + 60 +12,228 Bonds 3,583 4- 32 + 1,099 Total bought outright 28,150 + 218 + 902 Held under repurchase agreement 126 126 + 104 Total U. S. Government securities 28,276 + 34? + 1,006 Total loans and securities 28,405 + 371 + 952 Cash items in process of collection (938) 4,589 - 85 + 398 Bank premises 110 + 3 -- Other assets 304 + 21 - 7 TOTAL ASSETS (l,28l) 50,858 + 283 + 98 L I A B I L I T I ES Federal Reserve notes (3*6) 27,997 + 280 + 554499 Deposits: Member bank reserves 16,802 110 883377 - - U. S. Treasurer—general account 549 + 68 + 95 Foreign 238 - 3 + 48 Other 322 + 29 67 - Total deposits 17,911 - 16 - 761 Deferred availability cash items (938) 3,487 -- + 174 Other liabilities and accrued dividends + 5 + 47 . TOTAL LIABILITIES (1,281) 49,486 + 269 + 9 C A P I T AL A C C O U N TS Capital~paid In 433 + 1 30 Surplus 817 + 4? -- Other capital accounts 122 + 13 + 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,28l) 50,858 + 283 + 98 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 36-9$ - .2% - 2.2$ Contingent liability on acceptances purchased for foreign correspondents 122 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 AND SECURITIES, OCTOBER 11, 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 9 ~ && +209 16 days to 90 days 25 988 - 39 91 days to 1 year 12,161 +115 Over 1 year to 5 years 11,968 + 51 Over 5 years to 10 years 2,280 + 4 Over 10 years 234 + 4 Total 95 3% 28,276 +344

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 11, 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 16,008 737 3,898 901 1,369 1,095 832 2,687 650 330 721 654 2,134 Redemption fund for F. R. notes 1,062 66 2bl 65 92 85 63 190 45 26 46 33 110 Total gold certificate reserves 17,070 803 4,139 966 1,461 1,180 895 2,877 695 356 767 687 2,244 U n $ F. R. notes of other Banks 98 28 8 g 7 16 14 Other cash 380 81 20 29 17 10 il 16 Discounts and advances 95 1 18 * 12 2 3 54 * * 4 l * Acceptances: Bought outright 34 — 34 -- -- -- -- - - — -- U. S. Government securities: Bought outright— Bills 3,190 170 78 9 184 270 202 176 545 128 74 139 130 383 Certificates 1,639 87 4o6 95 139 104 90 280 66 38 72 66 196 Notes 19,738 1,050 4,881 l,l4o 1,085 462 860 802 2,367 Bonds 3,583 191 886 207 *•£? 197 3-m IS 84 156 145 430 Total 28,150 1,498 6,962 1,626 2,387 1,782 1,548 4,810 1,133 658 1,227 r,i43 3,37b Held under repurchase agreement 126 126 Total U. S. Government securities 28,276 1,498 7,088 1,626 2,387 1,782 1,548 4,810 1,133 658 1,227 1,143 3,376 Total loans and securities 28,405 1,499 7,i4o 1,626 2,399 1,784 1,551 4,864 1,133 658 1,231 1,144 3,376 Cash items in process of collection 5^527 366 1^025 336 415 415 426 902 264 186 291 240 661 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 104 15 70 16, 46 18 16 47 11 7 12 12 34 TOTAL ASSETS 52,139 2,747 12,562 2,996 4,366 3,442 2,980 8,797 2,134 1,238 2,335 2,126 6,4l6 * Less than $500,000.

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OR OCTOBER 11, 1961 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 28,340 l, 648 6, 457 1,823 2,552 2, 293 1,618 5,255 1, 212 578 1,170 851 2,883 Deposits: Member bank reserves 16,802 650 4,643 772 1, 241 733 821 2,506 622 439 802 932 2,64i U.S. Treasurer-general account 549 24 27 33 30 20 81 54 30 32 63 44 ill Foreign 238 12 1/64 14 22 11 13 34 8 6 10 l4 30 Other 322 l "268 1 1 4 1 1 * l 2 l 4i Total deposits 17,911 687 5,002 820 1, 294 768 916 2, 595 660 478 877 991 2, 823 Deferred availability cash items 4, 425 342 710 271 367 313 367 739 212 149 227 204 524 Other liabilities and accrued dividends 91 4 19 3 27 4 4 11 3 2 3 3 8 TOTAL LIABILITIES 50, 767 2, 681 12,188 2,917 4,240 3,378 2,905 8,600 2, 087 1, 207 2, 2 77 2, 049 6,238 CAPITAL ACCOUNTS Capital paid in 433 21 118 25 4o 20 24 61 15 10 18 25 56 Surplus 817 40 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 122 5 27 6 11 7 7 20 5 2 5 5 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,139 _&747 12,562 2,996 4,366 3,442 2,980 8^97 2,134 1,238 2,335 2,126 6,4i6 Contingent liability on acceptances purchased for foreign c orrespondents 122 6 2/34 7 11 6 7 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,418 1,705 6,722 1,864 2, 689 2,358 1,685 5,360 1,262 658 1,205 908 3, 002 Collateral for F. R. notes: Gold certificate account 9,065 495 2, 000 620 870 755 475 1,700 380 170 332255 275 1, 000 Eligible paper 4 44 U. S. Government securities 21,510 1,275 5,100 1,325 1,880 1,635 1,300 3,800 935 510 990000 650 2, 200 Total collateral 30,579 l, 770 1,100 1,945 2, 750 2, 390 1,775 5,500 1,315 680 1,229 925 3, 200 \J After deducting $174 million participations of other Federal Reserve Banks. t 2/ After deducting $ 88 million participations of other Federal Reserve Banks. Less than $500,000.