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 in®^iate release November 2; 19^1 The average of daily figures of total member "bank reserves held during the week ended November 1 decreased $102 million to $19,724 million. Cash allowed as reserves increased $15 million and member tank reserve balances at the Federal Reserve Banks decreased $117 million. Estimated required reserves decreased $90 million; and estimated excess reserves decreased $12 million to $537 million. Excess reserves exceeded member hank borrowings at the Federal Reserve Banks by $463 million, compared with the unchanged figure of million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $392 million in Federal Reserve float and an increase of $35 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $233 million in Federal Reserve holdings of U. 8. Government securities and a decrease of $48 million in currency in circulation Total Reserve Bank credit decreased $l4o million. As of Wednesday, November 1, holdings of U. S. Government securities bought outright were $363 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $7 million lower, and member bank borrowings were $36 million higher. Outright holdings of bills, certificates, notes, and bonds increased $329 million, $5 million, $22 million, and $7 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 1, Oct. 25, Nov. 2, Nov. 1, and related items 1961 1961 I960 1961 (In millions'of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 28,039 +248 +1, 093 28,268 Held under repurchase agreement 13 - 15 - 354 45 Acceptances-- Bought outright 38 2 38 Held under repurchase agreement * Discounts and advances-- Member bank borrowings 74 + 19 115 282 Other 2 20 2 Float 1, 238 -392 + i4o 1,099 Total Reserve Bank credit 29, 404 -140 + 742 29,734 Gold stock 17, 302 -1,103 17,303 Treasury currency outstanding 5; 57/6 . j _5 + 190 5,579 52,282ft . -135 - 171 52,616 Currency in circulation 32,80Z> • - 48 + 697 32,833 Treasury cash holdings kigO ' - 2 + 9 428 Treasury deposits with F. R. Banks 491 + 5 + 49 605 Foreign deposits with F. R. Banks 241 - 8 13 269 Other deposits with F. R. Banks 303 + 35 153 276 Other F. R. accounts (net) 990 - l 125 989 35,2301 » - 19 + 715 35,400 Member bank reserves: With Federal Reserve Banks 17;045 -117 - 886 17,216 Cash allowed as reserves (estimated) 2,679 + 15 +1,737 2, 771 Total reserves held 19;724 -102 + 851 19,987 Required reserves (estimated) 19,187 - 90 + 878 19,247 Excess reserves (estimated) 537 - 12 - 27 740 * Less than $$00,000. On November 1, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,996 million, a decrease of $153 million for the week and an increase of $368 million from the comparable date a year ago.

E. 4. 1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Nov. 1, Oct. 25, Nov. 2, 1961 1961 I960 A S S E TS Gold certificate account 15,926 - 10 - 1,130 Redemption fund for F. R. notes 1,102 4* 10 + 119 Total gold certificate reserves 17,028 - 1,011 — Cash (436) 399 5 + 3 Discounts and advances 284 4- 3366 -- 113399 Acceptances: Bought outright 38 4- 1 2 Held under repurchase agreement —— 3 U. S. Government securities: Bought outright-- Bills 3,242 4- 329 + 271 Certificates 1,654 + 5 -12,365 Notes 19,769 4- 22 +12,254 Bonds 3,603 4- 7 + 1,063 Total bought outright 28, 268 4- 363 + 1,223 Held under repurchase agreement 45 - 7 - 551 Total U. S. Government securities 28, 313 + 356 + 672 Total loans and securities 28,635 4* 393 + 528 Cash items in process of collection (1, 069) 4,884 4- 208 + 306 Bank premises 110 + 4 we — Other assets 332 + 22 34 TOTAL ASSETS (1,505) 51,388 4- 6l8 204 L I A B I L I T I ES Federal Reserve notes (436) 27,806 4" 58 + 563 Deposits: Member bank reserves 17, 216 + 7 - 1,167 U. S- Treasurer--general account 605 + 221 + 197 Foreign 269 + 27 + 6 Other 276 109 - Total deposits 18,366 4" 255 l, 073 - Deferred availability cash items (1,069) 3,785 + 288 4- 212 Other liabilities and accrued dividends 72 + 2 + 25 TOTAL LIABILITIES (1,505) 50,029 + 603 273 - C A P I T AL A C C O U N TS Capital paid in 433 m mm 4- 29 Surplus 817 4- 42 Other capital accounts 109 + 15 2 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 505) 51, 388 4~ 6l8 - 204 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 36.5$ - l. Contingent liability on acceptances purchased for foreign correspondents 116 93 * 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, NOVEMBER 1, 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 Change s advances Acceptances Holdings during week Within 15 days 278 11 608 + 66 16 days to 90 days 6 27 1,174 +262 91 days to 1 year 11,990 - 1 Over 1 year to 5 years 12, 016 + 26 Over 5 years to 10 years 2, 287 + 3 Over 10 years 238 Total 285 28, 313 +356

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 1, 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 dol.1 .ars) A S S E TS Gold certificate account 15,926 835 3,885 888 1,381 1,149 778 2,622 666 300 669 657 2,096 Redemption fund for F. R. notes 1,102 65 274 66 91 92 62 189 47 26 46 35 109 Total gold certificate reserves 17,028 900 4,159 954 1,472 l,24l 840 2,811 713 326 715 692 2,205 F. R. notes of other Banks 436 4l 132 39 18 21 52 29 11 20 16 17 4o Other cash 399 26 89 19 32 23 30 67 18 11 12 16 56 Discounts and advances 284 4 134 1 5 12 13 83 8 4 14 2 4 Acceptances: Bought outright 38 38 U. S. Government securities: ~ - -- — -* - — Bought outright-- Bills 3,242 173 802 187 275 205 178 554 130 76 l4i 132 389 Certificates 1,654 88 409 96 i4o 105 91 282 67 39 72 67 198 Notes 19,769 1,052 4,889 1,142 1,676 1,251 1,087 3,378 796 462 862 803 2,371 Bonds 3,603 192 891 208 306 228 198 6l6 145 84 157 146 432 Total 28,268 1,505 6,991 1,633 2,397 1, 789 1,554 4,830 1,138 661 1,232 1,148 3,390 Held under repurchase agreement 45 45 Total U. S• Government securities .28,313 1,505 7,036 1,633 2,397 1,789 1,554 4,830 1,138 661 1,232 1,148 3,390 Total loans and securities 28,635 1,509 7,208 1,634 2,402 1,801 1,567 4,913 1,146 665 1,246 1,150 3,394 Cash items in process of collection 5,953 432 1,129 379 478 407 420 1,049 282 195 296 254 632 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 332 18 82 19 28 21 19 56 13 8 14 14 40 TOTAL ASSETS 52,893 2,930 12,808 3,048 4,438 3,520 2,941 8,949 2,190 1,230 2,305 2,156 6,378

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 1, 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, 242 1,64l 6,413 1,819 2,541 2,293 1,625 5,220 1,223 573 1,168 851 2,875 Deposits: Member tank reserves 17,216 758 4,776 8o4 1,303 727 805 2,608 632 429 806 953 2,615 U.S.~Treasurer-general account 605 36 69 24 35 77 58 6l 49 31 31 42 92 Foreign 269 11 1/103 13 22 11 12 33 8 5 10 13 28 Other 276 1 219 1 1 3 1 2 1 1 2 1 43 Total deposits 18,366 806 5,W 842 1,361 818 876 2,704 690 466 849 1,009 2,778 Deferred availability cash items 4,854 413 838 304 4o6 341 363 819 228 158 227 216 541 Other liabilities and accrued dividends 72 4 19 4 6 5 3 12 2 2 4 8 TOTAL LIABILITIES 51,534 2,864 12,437 2,969 4,314 3,457 2,867 8,755 2,143 1,199 2,248 2,079 6,202 CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn 433 21 118 25 40 20 24 61 15 10 18 25 56 SSuurrpplluuss 817 40 229 48 75 37 44 116 27 19 35 47 100 OOtthheerr ccaappiittaall aaccccoouunnttss 109 5 24 6 9 6 6 17 5 2 4 5 20 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 52,893 2,930 12,808 3,048 4,438 3,520. 2,941 8,949 2,190 1,230 2,305 2,156 6,378 Contingent liability on acceptances purchased for foreign c orrespondents 116 6 E/3 2 7 11 5 6 16 4 3 5 7 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,46l 1,711 6,753 1,875 2, 685 2, 361 1,692 5,350 1,272 655 1, 201 908 2,998 Collateral for F. R. notes: Gold certificate account 8,535 495 1,500 600 870 755 475 1,700 380 160 325 275 1,000 Eligible paper 23 1 8 14 U. S. Government securities 21,835 1,275 5,400 1,325 1,880 1,635 1,300 3,800 935 510 900 675 2, 200 Total collateral 30,393 1,770 6,900 1,926 2,750 2,390 l, 775 5,500 l, 323 670 1, 239 950 3, 200 1/ After deducting $166 million participations of other Federal Reserve Banks. 2/ After deducting $ 84 million participations of other Federal Reserve Banks.