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 19, 19 6l The average of daily figures of total member bank reserves held during the week ended October 18 increased $387 million to $19,8l4 million. Cash allowed as reserves increased $208 million and member bank reserve balances at the Federal Reserve Banks increased $179 million. Estimated required reserves increased $257 million; and estimated excess reserves increased $130 million to $623 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $478 million, compared with the revised figure of $464 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $55 million in Federal Reserve holdings of U. S. Government securities, $116 million in member bank borrowings, and $48 million in Federal Reserve float, and decreases of $63 million in "other" deposits with Federal Reserve Banks and $p4 million in "o~cher" F. R. accounts (net). The principal offsetting changes were increases of $124 million in currency in circulation and $29 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $220 million. As of Wednesday, October 18, holdings of U. S. Government securities bought outright were $167 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $126 million lower, and member bank borrowings were $51 million lower. Outright holdings of bills and notes decreased $156 million and $11 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wedne sday, Reserve Bank credit, Oct. 18, Oct. 11, Oct. 19, Oct. 18, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 28,130 - 13 +1, 094 27,983 Held under repurchase agreement 120 + 68 + 120 Acceptance s--bought outright 35 3 36 Discounts and advances- Member bank borrowings 145 +116 + 71 42 Other 2 19 2 Float 1> 305 + 48 - 148 1,649 Total Reserve Bank credit 29,737 +220 +1,116 29,712 Gold stock 17,336 - i4 -1,250 17,303 Treasury currency outstanding 5,568 + 3 + 186 5,570 52.7542 +209 + 53 52,585 Currency in circulation 33,010 +124 + 706 32,939 Treasury cash holdings 422 + 5 + 9 431 Treasury deposits with F. R. Banks 479 + 29 10 458 Foreign deposits with F. R. Banks 248 - 13 + 33 287 Other deposits with F. R. Banks 300 - 63 - 93 267 Other F. R. accounts (net) 998 - 54 + 134 994 35,457 + 28 + 777 35,376' Member bank reserves: With Federal Reserve Banks 17,184 +179 - 725 17,210 Cash allowed as reserves (estimated) 2, 630 +208 +1,700 2, 883 Total reserves held 19,814 +387 + 975 20, 093 Required reserves (estimated) 19,191 +257 +1,228 19,409 Excess reserves (estimated) 623 +130 - 253 684 On October 18, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,120 million, a decrease.. of $76 million for the week and an increase of $569 million from the comparable date a year ago.

E.4.1(a) CONSOLIDATED Sl'ATEMSZi? OB CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollarsj Change since Oct. 18, Oct. 11, Oct. 19, 19bl 1961 i960 A S S E TS Gold certificate account 15,960 48 1,346 Redemption fund for F. R. notes 1,062 + 82 - - Total gold certificate reserves 177022 43 1,264 - - * Cash (396) 378 2 11 Discounts and advances 44 - 51 - 43 Acceptances--"bought outright 36 4- 2 1 - U. S. Government securities: Bought outright-- Bills 3,034 156 4* 260 Certificates 1,639 -12,368 - - Notes 19,727 11 +12,217 - Bonds 3,583 4-1,099 Total bought outright 27,983 167 4-1,208 - Held under repurchase agreement — - 126 — — Total U. S. Government securities 27,983 293 4-1, 208 - Total loans and securities 28,063 342 4-1,164 - Cash items in process of collection (1,301) 5,618 +1, 029 4- 493 Bank premises 110 ~ — 4- 3 Other assets 293 - 11 m. 36 TOTAL ASSETS (1,697) 517555 4* 623 4- 349 L I A B I L I T I ES Federal Reserve notes (396) 27,896 101 + 576 Deposits: - Member bank reserves 17, 210 4o8 458 U. S. Treasurer--general account 458 - 91 - 4i Foreign 287 4- 49 4* 48 Other 267 - 55 - 110 Total deposits 18,222 + 311 561 - Deferred availability cash items (1,301) 3,969 4- 482 4* 235 Other liabilities and accrued dividends 69 - 22 4- 27 TOTAL LIABILITIES (1,697) 50,1>6 + 670 + 277 C A P I T AL A C C O U N TS Capital paid in" 433 4- 29 Surplus 817 4- 42 -- Other capital accounts 78 - 44 4- 1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,697) 51,484 4 626 4- 349 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 36.6fo • 31o 2.7$ Contingent liability on acceptances purchased for foreign correspondents 121 - l 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 18, 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 i % - KX 1 g LrT/e^trryears :: :: -"6 Over 5 years to 10 years -- __ 2*280 Over 10 years 234 Tota! 55 35 27,983 -293

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER l8, 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) A S S E TS Gold certificate account 15,960 828 3,598 881 1,408 1,094 823 2,710 664 307 737 673 2,237 Redemption fund for F. R. notes 1,062 66 240 64 93 84 63 190 47 26 46 33 110 Total gold certificate reserves 17,022 894 3,838 945 1,501 1,178 886 2,900 711 333 783 70b 2,347 F. R. notes of other Banks 396 40 122 32 12 21 48 26 8 16 15 16 40 Other cash 378 23 83 3£ 29 21 30 62 17 10 12 16 57 Discounts and advances 44 5 4 3 13 1 2 10 * 1 4 1 * Acceptances: Bought outright U. S. Government securities: 36 - - 36 - - - ~ -- - - - - -- - - -- Bought outright-- Bills 3,034 162 750 175 257 192 167 518 122 71 132 124 364 Certificates 1,639 87 4o6 95 139 104 90 280 66 38 72 66 196 Notes 19,727 1,050 4,878 1,139 1,673 1,248 1,085 3,371 794 462 860 801 2,366 Bonds —3-l5S3_ 12L- 886 207 J04 227 197 612 144 84 156 145 430 Total 27,983 1,490 6,920 l,6l6 2,373 1,771 1,539 4,781 1,126 655 1,220 1,136 3,356 Held under repurchase agreement Total U. S. Government securities 27,983 1,490 6,920 1,616 2,373 1,771 1,539 4,781 1,126 655 1,220 1,136 3,356 Total loans and securities 28,063 1,495 6,960 1,619 2,386 1,772 1,541 4,791 1,126 656 1,224 1,137 3,356 Cash items in process of collection 6,919 525 1,340 419 538 499 497 1,158 304 216 354 294 775 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 293 15 74 17 24 17 17 51 11 6 13 13 35 TOTAL ASSETS 53,181 2,996 12,426 3,054 4,498 3,514 3,032 9,012 2,184 1,242 2,407 2,195 6,621 *Less than $500,000.

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 18, 196l San New Phila- Cleve- Rich- St. Minne- Kansas Total Boston Atlanta CChhiiccaaggoo Dallas Fran- York delphia land mond Louis apolis City cisco ((IInn millions of dollars) L I A B I L I T I ES Federal Reserve notes 28,292 1,648 6,4l8 1,822 2,553 2,292 1,625 5, 242 1,216 578 1,170 852 2,876 Deposits: Member "bank reserves 17,210 807 4,435 772 1,343 738 853 2,576 625 429 844 966 2,822 U.S. Treasurer-general account 458 19 49 36 2 36 44 60 38 22 ^3 4o 69 Foreign 287 12 1/105 15 23 12 13 35 9 6 11 15 31 Other 267 1 213 2 1 3 2 2 l * 2 — — 4o Total deposits 18,222 839 4,802 825 1, 369 789 912 2, 673 673 457 900 1,021 2,962 Deferred availability cash items 5,270 44l 824 326 448 368 419 897 247 175 278 244 603 Other liabilities and accrued dividends 69 4 18 4 6 4 3 11 3 2 3 3 8 TOTAL LIABILITIES 51,853 2,932 12,062 2,977 4,37 6 3,453 2,959 8,823 2,139 1, 212 2, 351 2,120 6,449 CAPITAL ACCOUNTS Capital paid in 433 21 118 25 4o 20 24 61 15 10 18 25 56 Surplus 817 4o 229 48 75 37 44 116 27 19 35 47 100 Other capital accounts 78 3 17 4 7 4 5 12 3 1 3 3 16 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,181 2,996 12,426 3,054 4,498 3,514 3,032 9,012 2,184 1,242 2,407 , 2,195 6,621 Contingent liability on acceptances purchased for foreign corre spondent s 121 6 22//3344 7 11 6 6 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,473 1,712 6,735 1,871 2,693 2,364 l, 696 5,363 1,266 658 1,200 904 3, Oil Collateral for F. 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 — — — — 3 — — - - — — * - — 4 — — U. S. Government securities 21,510 1,275 5,100 1,325 1,880 1,635 1,300 3,800 935 510 900 650 2,200 Total collateral 30,582 l, 770 7,100 1,948 2,750 2, 390 l, 775 5,500 1,315 680 1, 229 925 3, 200 other Federal Reserve Banks. -*-J U-XJ. VX^JL UUUUUUXii.5 y i U il IUJL_L-LX Vll jJCXJ. U JLV J-jJCLU A.VJ.J.O U1 * Less than $500,000• 2/ After deducting $ 87 million participations of other Federal Reserve Banks.