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 November 9, 1961 The average of daily figures of total member bank reserves held during the week ended November 8 decreased a net of $75 million to $19, 677 million. Cash allowed as reserves decreased $271 million and member bank reserve balances at the Federal Reserve Banks increased $196 million. Estimated required reserves decreased $40 million; and estimated excess reserves decreased million to million. $35 $509 Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $418 million, compared with the revised figure of $470 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $443 million in Federal Reserve holdings of U. 8. Government securities and a decrease of $45 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $108 million in Federal Reserve float and increases of $167 million in currency in circulation and $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit incieased million. $356 As of Wednesday, November 8, holdings of U. S. Government securities bought outright were million higher than a week earlier, U. S. Government $256 securities held under repurchase agreement were $40 million higher, and member bank borrowings were $204 million higher. Outright holdings of bills, certificates, notes, and bonds, increased $120 million, $35 million, $60 million, and $4l million, respectively. Averages of daily figures Member "bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 8, Nov. 1, Nov. 9, Nov. 8, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 28,466 +427 +1,027 28,524 Held under repurchase agreement 29 + 16 - 547 85 Acceptances — Bought outright 42 + 4 2 39 Held under repurchase agreement - - — 9 Discounts and advances- Member "bank borrowings 91 + 17 - 45 486 Other 2 20 - - 2 Float 1,130 -108 + 202 707 Total Reserve Bank credit 29,760 +356 + 606 29,843 Gold stock 17;291 - 11 - 833 17,276 Treasury currency outstanding 5, 580^- + 3 + 191 5,581 52,63ZC . +348 - 35 52,700 Currency in circulation 32,960 • +167 + 670 33,160 Treasury cash holdings 423 + 11 + 25 424 Treasury deposits with F. R. Banks 475 - 16 + 57 465 Foreign deposits with F. R. Banks 273 + 32 + 23 274 Other deposits with F. R. Banks 258 - 45 - 137 269 Other F. R. accounts (net) 992 + 2 + 128 992 35,38gf|. +151 + 767 35,584 Member "bank reserves: With Federal Reserve Banks 17,24l . +196 - 804 17,117 Cash allowed as reserves (estimated) 2, 436 -271 +1,684 2, 662 Total reserves held 19, 677 - 75 + 880 19,779 Required reserves (estimated) 19,168 - 4o + 977 19,134 Excess reserves (estimated) 509 - 35 - 97 645 On November 8, 1961, U. 8. Government securities held in custody "by the Federal Reserve Banks for foreign account were $5,968 million, a decrease of $28 million for the week and an increase of $398 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED Oj?' CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Nov. 8, Nov. 9, NOV. 1; 1961 1961 I960 A S S E TS Gold certifica£e~account 15,889 • 37 - 936 Redemption fund for F. R. notes 1,108 + 6 + ll4 Total gold certificate reserves 16,997 31 822 - - Cash (353) 376 23 + 10 Discounts and advances 488 + 204 + 330011 Acceptances; Bought outright 39 + 1 - 3 Held under repurchase agreement - 10 U. S. Government securities: Bought outright— Bills 3,362 + 120 64 Certificates 1,689 + 35 -12,453 Notes 19,829 + 60 +12,299 Bonds 3,644 + 4l 4 1,039 Total bought outright 28,524 + 256 H- 949 Held under repurchase agreement „ 85 + 40 - 429 Total U. S. Government securities 28,609 + 296 + 520 Total loans and securities 29,136 + 501 + 808 Cash items in process of collection (910) 4,357 527 + 360 Bank premises 110 t 3 * — Other assets 346 + 14 41 • TOTAL ASSETS (1,263) 51,322 - 66 + 318 L I A B I L I T I ES Federal Reserve-notes- (353) 28,099 + 229933 + 518 Deposits: Member bank reserves 17,117 - 99 • 420 U. S. Treasurer—general account 465 l4o 75 Foreign 274 + 5 16 Other 269 - 7 - 118 Total deposits 18,125 24l 447 - - Deferred availability cash items ((991100)) 3,650 135 + 156 Other liabilities and accrued dividends 73 + 1 + 24 TOTAL LIABILITIES (1,263) 49,947 82 + " 251 C A P I T AL A C C O U N TS Capital paid In" 433 + 26 «• «- Surplus 817 4- 42 — — Other capital accounts 125 + 16 - 3 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,263) 51,322 - '66 + "318 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 3366..55## 1.8# Contingent liability on acceptances purchased for foreign correspondents 114 - 2 • 102 * 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 8, 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 559 8 4l6 -192 16 days to 90 days 19 31 1,407 +233 91 days to 1 year 12,228 +238 Over 1 year to 5 years 12,03k + 18 Over 5 years to 10 years 2,286 - 1 Over 10 years — 238 Total 488 39 28,609

1.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN NOVEMBER 8 , 1961 Total Boston Y Ne o w rk - d P el h p i h la ia - C l l a e n v d e - m R on ic d h - Atlanta Chicago L S ou t. is M ap i o nn li e s - K C an it s y a s Dallas F S ra an n cisco A S S E TS In millions of dollars Gold certificate account 15,889 777 3,837 917 1,395 1,090 794 2,506 676 Redemption fund for F. R. notes 1,108 65 273 67 91 90 72 188 47 Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright 39 39 U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Government securities Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS CM 5^ 672 64i 2,293 46 35 108 16,997 842 4,110 984 1,486 1,180 866 2,694 723 317 718 676 2,401 353 38 103 27 12 18 47 19 9 17 14 14 35 376 25 79 18 30 22 30 65 17 10 11 15 54 488 4 136 16 32 9 21 209 7 1 27 25 1 3,362 179 831 194 285 213 185 575 135 79 146 137 403 1,689 90 4l8 98 143 107 93 288 68 39 73 69 203 19,829 1,055 4,904 1,145 1,682 1,255 1,090 3,388 798 464 865 805 2,378 3,644 194 901 211 309 230 200 623 14? 85 159 148 437 28,524 1,518 7,054 1,648 2,419 1,805 1,568 4,874 1,148 667 1,243 1,159 3,421 85 85 28.6oc —JU518_ .1,139 1.648 . 2,419 1,805 1,568 4,874 1,148 667 1,243 1,159 3,421 29,136 1,522 7; 314 1,664 2,451 l,8l4 1,589 5,083 1,155 668 1,270 1,184 3,422 5,267 379 907 339 433 387 410 878 26l 180 279 224 590 11C 4 9 4 8 6 13 24 7 5 6 13 11 346 19 86 20 29 21 20 58 13 8 16 14 42 52,585 2,829 12,608 3,056 4,449 3,448 2,975 8,821 2,185 1,205 2,314 2,l4o 6,555

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 8, 1961 San Total Boston New Phila- Cleve- Rich- Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass 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 28,452 1,653 6,473 1,836 2,554 2,309 1,643 5,249 11,,223333 575 11,,117766 885555 22,,889966 Deposits: Member tank reserves 17,117 701 4,569 760 1,335 699 844 2,533 653 4l4 810 964 2,835 U.S. Treasurer-general account 465 37 29 20 45 3 44 80 29 32 37 36 73 Foreign 274 12 1/94 14 23 11 13 35 9 6 11 15 31 Other 269 * 220 2 1 4 1 2 * * 1 * 38 Total deposits 18,125 750 4,912 796 1,4o4 717 902 2,650 691 452 859 1,015 2,977 Deferred availability cash items 4,560 355 829 341 358 335533 335511 771144 211 114455 218 119900 449955 Other liabilities and accrued dividends 73 4 19 4 6 5 4 11 3 2 3 3 9 TOTAL LIABILITIES 51,210 2,762 12,233 2,977 4,322 3,384 2,900 8,624 2,138 1,174 2,256 2,063 6,377 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 125 6 28 6 12 7 7 20 5 2 5 5 22 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,585 2,829 12,608 , 3,056 4,449 3,448 .. 2,975 8,821 2,185 1,205 2,314 2.140 6,555 Contingent liability on acceptances purchased for foreign c orrespondent s 114 5 2/32 7 10 5 6 16 4 3 5 7 l4 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,563 1,717 6,793 1,886 22,,668822 22,, 337766 11,,669999 55,,334488 11,,227766 665522 1,201 992200 33,,001133 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 50 — — 16 mm mm 7 27 U. S. Government securities 21,860 1,275 5,400 1,325 1,880 1,635 1,300 3,800 960 510 900 675 2,200 Total collateral 30,445 1,770 6,900 1,941 2,750 2,390 1,775 5,500 1,347 670 1,252 950 3,200 1/ After deducting $180 million participations of other Federal Reserve Banks. 2/ After deducting $ 82 million participations of other Federal Reserve Banks. * Less than $500,000.