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 26, 1961 The average of daily figures of total member bank reserves held during the week ended October 25 increased a net of $18 million to $19,821 million. Cash allowed as reserves increased $40 million and member bank reserve balances at the Federal Reserve Banks decreased $22 million. Estimated required reserves increased $46 million; and estimated excess reserves decreased $28 million to $549 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by *494 million, compared with the revised figure of $432 million the week before. The principal changes reducing average reserve balances with Federal Reserve Barnes were decreases of $339 million in U. S. Government securities bought outright and $92 million held under repurchase agreement, $90 million in member oank borrowings, and $34 million in gold stock. The principal offsetting changes were an increase of $325 million in Federal Reserve float, and decreases of $l6l million in currency in circulation and $32 million in "Other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $193 million. As of Vfednesdav, October 25, holdings of U. S• Government securities "bought outright were $78 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $52 million higher, and member "bank borrowings were $204 million higher. Outright holdings of bills decreased $121 million; certificates, notes, and bonds increased $10 million, $20 million, and $13 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Oct. 25, Oct. 18, Oct. 257 Oct. 25, and related items 1961 1961 I960 1961 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 27,791 -339 +1 ,110 27,905 Held under repurchase agreement 28 - 92 51 52 Acceptances--bought outright 38 + 3 - — 37 Discounts and advances-- Member bank borrowings 55 - 90 185 246 - Other 2 20 2 Float - 630 +325 + 276 1,179 Total Reserve Bank credit 29^55 -193 +1,129 29, 421 Gold stock 17,302 - 34 -1., 250 17,303 Treasury currency outstanding 5,572 + 4 + 189 5,573 52, 418 -224 + 68 52,297 Currency in circulation 32,849 -l6l 4- 729 32,776 Treasury cash holdings 4i4 - 8 + 11 415 Treasury deposits with F. R. Banks 486 + 7 60 384 - Foreign deposits with F.R. Banks 249 + l 8 242 - Other deposits with F. R. Banks 2 68 - 32 105 276 Other F. R. accounts (net) 991 - 7 4 - - 129 994 35,257 -200 + 696 35,087 Member bank reserves: With Federal Reserve Banks 17,162 - 22 - 627 17,209 Cash allowed as reserves (estimated) 2,659 + 4o +1,719 2,945 Total reserves held 19;821 + 18 +1, 092 20,154 Required reserves (estimated) 19,272 + 46 +1; 072 19,226 Excess reserves (estimated) 549 - 28 4- 20 | 928 On October 25^ 1961, U. S. Government securities held in custody "by the Federal Reserve Banks for foreign account were $6,1^9 million, an increase of $^9 million for the week and an increase of $44l million from the comparable date a year ago.

HA.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Oct. 25, Oct . 18, Oct. 26, 1961 1961 I960 A S S E TS Gold certificate account 15,936 - 24 -- 11,,226600 Redemption fund for F- R. notes 1,092 4- 30 + 111 Total gold certificate reserves 17,028 + 6 - 1,149 Cash (452) 4o4 + 26 — — Discounts and advances 248 + 204 - 702 Acceptances--bought outright 37 + 1 1 U. S. Government securities: Bought outright-- Bills 2,913 - 121 + 257 Certificates l, 649 10 -12,358 Notes 19,7^7 + 20 +12,237 Bonds 3,596 -f 13 + 1,112 Total bought outright 27,905 - 78 + 1,248 Held under repurchase agreement 52 + 52 243 Total U. S. Government securities 27,957 r 26 + 1,005 Total loans and securities 28,242 + 179 + 302 Cash items in process of collection (1,055) 4,676 - 942 + 382 Bank premises 110 -- + 3 Other assets 310 •4* 17 37 TOTAL ASSETS (1, 507) 50,770 714 - 499 - L I A B I L I T I ES Federal Reserve notes (452) 27,7^8 - 114488 ++ 558822 Deposits: Member bank reserves 17,209 - l -- 11,,114455 U. S. Treasurer—general account 384 - 74 - 135 Foreign 242 - 45 27 Other 276 + 9 99 Total deposits 18,111 - 111 - 1,406 Deferred availability cash items (1,055) 3,497 - 472 + 229 Other liabilities and accrued dividends 70 + 1 + 25 TOTAL LIABILITIES (1, 507) 49;426 - 730 - 570 C A P I T AL A C C O U N TS Capital paid in 433 -- + 29 Surplus 817 + 42 Other capital accounts 94 + 1166 - - TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,507) 50,770 7i4 - 499 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 33 66..88## + •• 22aajjoo - 1.8# Contingent liability on acceptances purchased for foreign correspondents 111199 - 2 78 * 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 25, 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 2W3 * 10 542 -19 16 days to 90 days XS ' 27 912 -23 91 days to 1 year -- -- 11,991 -l4 Over 1 year to 5 years -- -- 11,990 +22 Over 5 years to 10 years -- -- 2,284 + 4 Over 10 years -- -- 238 + 4 Total 255 37 27,957 -25

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 25, 1961 San Total Boston N Y e o w rk d P el h p i h la ia - C l l a e n v d e - m R o ic n h d - Atlanta Chicago L S ou t. is M ap in o n li e s - K C a i n t s y a - s Dallas Francisco (In millions of dollars) A S S E TS Gold certificate account 15,936 684 4,094 852 1,348 1,072 ,793 2,533 655 305 677 626 2,297 Redemption fund for F. R. notes 1,092 65 274 65 92 82 62 189 47 26 46 35 109 Total gold certificate reserves 17,025* 749 4,368 917 l,~4W 1,155" 855 2,722 702 331 723 661 ' 2,406 F. R. notes of other Banks 452 43 133 38 17 24 54 11 19 17 20 L 9 Other cash 4o4 24 98 18 30 22 30 65 17 10 13 17 Discounts and advances 248 5 51 1 4 14 8 134 3 * 12 8 8 Acceptances: Bought outright 37 37 U. S. Government securities: - - -- -- - - - - " Bought outright-- Bills 2,913 155 720 168 247 185 160 498 117 68 127 118 350 Certificates 1,649 88 4o8 95 i4o 105 90 281 66 39 72 67 198 Notes 19,747 1,051 4,883 i,l4l 1,674 1,250 1,086 3,374 795 462 861 802 2,368 Bonds -.3.^96 191 890 208 305 226 198 615 145 84 157 146 431 Total 27,905 1,485 "5,901 1,612 2,366 ITJEB 1,534 4,768 1,123 653 1,217 1,133 3,347 Held under repurchase agreement 52 52 Total U. S. Government securities 27,957 1,485 6,953 1,612 2,366 1,766 l, 534 4,768 1,123 653 1,217 1,133 3,347 Total loans and securities 28,242 1,490 7,041 1,613 2,370 1,780 1,542 4,902 1,126 653 1,229 l,l4l 3,355 Cash items in process of collection 5,731 4ll 1,096 342 452 4o6 426 939 264 187 304 256 648 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 310 17 ... 77, . _il_ 27 19 18 52 12 7 14 13 37 TOTAL ASSETS 52,277 2,738 12,822 2,949 4,344 3,4ll 2,938 8,731 2,139 1,212 2,306 2,121 6,566 * Less than $500,000.

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 25, 1961 San Total Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas Fran- York delphia land mond Louis apolis City cisco L I A B I L I T I ES (in millions of dollars) Federal Reserve notes 28, 200 1,642 6,4o8 1,820 2, 544 2,281 1,6l6 5,228 1, 216 575 1,164 849 2,857 Deposits: Member bank reserves 17, 209 637 4,948 735 1, 228 697 830 2,457 629 428 800 932 2,888 U.S. Treasurer-general account 384 23 48 23 31 33 36 34 25 20 35 29 47 Foreign 242 12 1/ 71 14 22 11 13 33 8 5 10 14 29 Other 276 * 222 2 1 2 1 2 1 * 1 * 44 Total deposits 18,111 672 5,289 774 1,282 743 880 2,526 663 453 846 975 3,008 Deferred availability cash items 4,552 355 739 275 389 321 366 774 210 151 236 218 518 Other liabilities and accrued dividends 70 4 -12- 3 6 4 3 11 3 2 3 3 9 TOTAL LIABILITIES 50,933 2,673 12,455 2,872 4,221 3,349 2, 865 8,539 2,092 1,181 2, 249 2, 045 6,392 CAPITAL ACCOUNTS Capital paid in Surplus 433 21 118 25 4o 20 24 61 15 10 18 25 56 Other capital accounts 817 4o 229 48 75 37 44 116 27 19 35 47 100 94 4 20 4 8 5 5 15 5 2 4 4 18 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,277 2,738 12,822 2,949 4,344 3,411 2,938 8.731 2,139 1.212 2.306 2,121 6, 566 Contingent liability on acceptances purchased for foreign corre spondent s 119 2/. 12. _Z. 11 5 6 17 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,444 1,704 6,739 l, 874 2,693 2,356 1,693 5,343 1,270 656 1, 201 912 3, 003 Collateral for F. P.. notes: Gold certificate account 8, 565 495 1,500 620 870 755 475 1,700 380 170 325 275 l, COO Eligible paper 15 -X- - - — — — — — — — 3 12 U- S. Government securities 21,835 1, 275 5,4oo 1,325 1,880 1,635 1,300 3,800 935 510 900 675 2, 200 Total collateral 30, 415 : 1, 770 6,900 1,945 2, 750 2, 390 1,775 5,500 l, 318 680 1, 237 950 3, 200 o — ui uuiiei' reuerai .Reserve isanKS . 2/ After deducting $86 million participations of other Federal Reserve Banks. Less than $500, 000.