H.4.1 Factors Affecting Reserve Balances of Depository Institutions

F E D E R AL R E S E R VE Condition Ste'te'melt'o'f m" l e n k V' The average of daily figures of total member bank reserves held during the week ended November 15 increased a net of $64 million to $19,737 million. Cash allowed as reserves increased $221 million and member bank reserve balances at the Federal Reserve Banks decreased $157 million. Estimated required reserves decreased $88 million; and estimated excess reserves increased $152 million to $628 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $506 million, compared with the revised figure of $385 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $86 million in U. S. Government securities bought outright and $15 million in gold stock, and an increase of $255 million in currency in circulation. The principal offsetting changes were increases of $57 million in U. S. Government securities held under repurchase agreement, $31 million in member bank borrowings, and $56 million in Federal Reserve float, and decreases of $21 million in Treasury cash holdings and $26 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $57 million. • As of Wednesday, November 15, holdings of U. S. Government securities bought outright were $174 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $25 million higher, and member bank borrowings were $129 million higher. Outright holdings of bills and notes decreased $163 million and $11 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 15, Nov. 8, Nov . 16, Nov. 15, and related items 1961 1961 I960 1961 (] "n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 28,38O 86 + 792 28,350 Held under repurchase agreement 86 + 57 431 110 - Acceptance Sj-- Bought outright 4o - 2 - 4 39 Held under repurchase agreement * * - 10 3 Discounts and advances— Member bank borrowings 122 + 31 - 46 615 Other 3 + 1 19 2 - Float 1,186 + 56 + 210 1,292 Total Reserve Bank credit 29,817 + 57 + 492 30,411 Gold stock 17,276 - 15 - 792 17,276 Treasury currency outstanding 5,58^3, + 4 + 193 5,585 52,67/6 . + 46 107 53,272 - Currency in circulation 33,222fr , +255 + 696 33,258 Treasury cash holdings 402 - 21 4io Treasury deposits with F. R. Banks 476 + 1 - 43 635 Foreign deposits with F. R. Banks 247 - 26 + 17 273 Other deposits with F. R. Banks 253 - 5 - 155 285 Other F. R. accounts (net) 992 + 78 1,146 -- 35,59th . +204 + 593 36,007 Member bank reserves: With Federal Reserve Banks 17,084 -157 - 700 17,265 Cash allowed as reserves (estimated) 2,653 +221 +1,704 2,910 Total reserves held 19,737 + 64 +1,004 20,175 Required reserves (estimated) 19,109 - 88 + 988 19,150 Excess reserves (estimated) 628 +152 + 16 1,025 * Less than $500,000. On November 15, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,004 million, an increase of $36 million for the week and an increase of $537 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 Nov. 15, Nov . 8. Nov. 16, 1961 1961 I960 A S S E TS Gold certificate account 15,902 + 13 798 - Redemption fund for F. R. notes 1,115 + 7 + 105 Total gold certificate reserves 17,017 + 20 693 - Cash (349) 368 - 8 - 4 Discounts and advances 617 + 129 + 44l Acceptances: Bought outright 39 -- - 6 Held under repurchase agreement 3 + 3 - 9 U. S. Government securities: Bought outright— Bills 3,199 - 116633 - 129 Certificates 1,689 7,453 -- - Notes 19,818 11 + 7,288 - Bonds 3,644 + 1,039 -- Total bought outright 28,350 174 + 745 - Held under repurchase agreement 110 + 25 196 - Total U. S- Government securities 28,460 149 + 549 - Total loans and securities 29,119 17 + 975 - Cash items in process of collection (1,106) 5,804 +1,447 + 12 Bank premises 111 + l + 4 Other assets 144 202 + 22 - TOTAL ASSETS (1,455) 52, 563 +1, 241 + 316 L I A B I L I T I ES Federal Reserve notes (349) 28,192 + 93 + 639 Deposits: Member bank reserves 17,265 + 148 33^^77 - U. S. Treasurer--general account 635 + 170 Foreign 273 1 + 6622 - Other 285 + 16 143 - Total deposits 18,458 4- 333 428 - Deferred availability cash items (1,106) 4, 512 + 862 + 8 Other liabilities and accrued dividends 73 -- + 23 TOTAL LIABILITIES (1, ^55) 51,235 +1,288 + 242 C A P I T AL A C C O U N TS Capital paid in 433 + 27 -- Surplus 817 + 42 Other capital accounts 78 4477 + 5 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 455) 52,563 , 241 + 316 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 36.2/0 .3 1.6$ - lo Contingent liability on acceptances purchased for foreign correspondents 113 1 108 - - * 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 15, 1961 (Acceptance" 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 610 13 510 + 94 l6 days to 90 days 7 29 1, 283 - 124 91 days to 1 year 15, 352 +3,124 — — Over 1 year to 5 years — ~ — — 3.805 -3,169 Over 5 years to 10 years 2, 212 - 74 — — — Over 10 years 238 w — — — — ~ Total 5Tf 52 28, 460 - 149

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON I}07S®SR 15, l>6l Total Boston Phila- Rich- St. Minne Atlanta Chicago delphia mond Louis apolis Fran- A S S E TS fin millions of dollars) Gold certificate account 15,902 880 3,508 921 1,344 1,146 796 2,758 708 306 673 708 2,154 Redemption fund for F. R. notes 1,115 65 272 73 92 90 72 189 47 26 46 35 106 Total gold certificate reserves 17,017 945 3,780 994 1,436 1,236 868 2,947 755 332 719 743 2,262 F O . t R he . r n ca o s t h e s of other Banks 349 26 107 28 10 20 48 21 8 14 13 17 37 368 22 84 19 28 21 28 62 17 10 11 14 52 Discounts and advances 617 7 317 7 18 3 6 173 9 1 42 * 34 Acceptances: Bought outright 39 39 -- -- Held under repurchase agreement - - 3 3 U. S. Government securities: " - - —— Bought outright-- Bills 3,199 170 791 184 271 203 176 547 129 75 l4o 130 383 Certificates 1,689 90 4i8 98 143 107 93 288 68 39 73 69 203 Notes 19,818 1,055 4,901 1,144 1,681 1,254 1,090 3,386 797 464 864 805 2,377 Bonds 3,644 194 901 211 309 230 200 623 147 85 159 148 437 Total 28,350 1,509 7,011 1,637 2,404 1,794 1,559 4,544 1,141 bb3 1,236 •i;i52 3,4OU Held under repurchase agreement 110 110 Total U. S. Government securities 28,46o 1,509 7,121 1,637 2,4o4 1,794 1,559 4,844 l,l4l 663 1,236 1,152 3,4OO Total loans and securities 29,119 1,516 7,480 1,644 2,422 1,797 1,565 5,017 1,150 664 1,278 1,152 3,434 Cash items in process of collection 6,910 464 1,317 438 596 535 530 1,156 334 205 355 293 687 Bank premises ill 4 9 4 8 6 14 24 7 5 6 13 11 Other assets 144 8 36 8 12 8 9 23 6 3 7 6 18 TOTAL ASSETS 54,018 2,985 12,813 3A35 4,512 3,623 3,062 9,250 2,277 1,233 2,389 2,238 6,501 *Less than $500,000.

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON " NOVEMBER 15, I96I 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 o t u . is M ap i o nn li e s - K C an it s y a s Dallas F S ra an n cisco (In millions of dollars) L I A B I L I T I ES F D F D ee ee dd pp ee oo rr ss aa ii ll tt ss RR :: eesseerrvvee nnootteess 28, 5ki 1, 668 6,488 1,846 2, 571 2,316 1, 651 5,261 1, 237 574 1,176 856 2,897 MM U F U Foo .. ee SS rr mm ee .. bb ii TT ee gg rr rr nn ee bb aa aa ss nn uu kk rr rr ee ee rr-- ss gg ee ee rrvv nn ee ee ss rr aall aaccccoouunntt 17;2 6 6 3 5 5 75 3 7 3 4,4 1 5 9 7 8 80 2 0 4 1,27 1 6 2 77 4 2 7 84 2 4 8 2,72 8 4 1 66 5 9 2 41 2 9 5 84 3 0 4 1,01 3 3 0 2,69 7 4 1 OOtt TT hhee oo rr tt aall ddeeppoossiittss 18, 4 2 2 5 8 7 8 5 3 80 1 3 2 1 1 4 / , 9 2 9 8 3 7 6 4 83 l4 9 1 1,31 2 2 3 1 83 1 4 1 4 88 1 6 3 1 2,84 3 l l 5 730 8 l 450 * 6 88 1 7 0 1,05 1 7 4 * 2,83 1 3 3 8 0 DD OOtt ee hh ff ee ee rr rr rr ll ee ii dd aa bb aa ii vv ll aa ii ii tt ll ii aa ee bb ss ii ll aa ii nn ttyy dd cc aa aa cc ss cc hh rruu ee iitt dd ee mmss 5,618 446 958 369 500 4o8 449 947 261 177 266 246 591 ddiivviiddeennddss TTOOTTAALL LLIIAABBIILLIITTIIEESS 52,6 Z 9 21 0 2,921 4 12, 45 1 1 9 3,058 4 4,389 6 3, 562 4 2,989 9,06 1 2 1 2, 231 1, 203 2 2,333 4 2,162 6,329 8 CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn SSuurrpplluuss 433 21 118 25 4o 20 24 6.1 15 10 18 25 56 OOtthheerr ccaappiittaall aaccccoouunnttss 817 4o 229 48 75 37 44 116 27 19 35 47 100 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD , , . 78 .3 . 15 4 8 4 5 11 4 1 4 16 CCAAPPIITTAALL AACCCCOOUUNNTTSS 54,018 2,985 12,813 3,135 4,512 3,623 3,062 ,9,250 2,277 1,231 2,189 2,218 6,501 Contingent liability on acceptances purchased for foreign correspondents 113 I 2/31 7 10 5 6 16 4 3 q 1 h - '7 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: 29,831 1,726 6,893 1,911 2,705 2, 385 1,730 5,368 1, 297 657 1,205 917 3,037 Gold certificate account Eligible paper 8,525 495 1,500 570 870 775 475 1,700 380 160 325 275 1,000 5 8 7 9 42 U. S. Government securities 22,285 I,.3?5 .. . 5,600 1,500 1,880 1,635 1,300 3,800 960 510 900 675 2,200 Total collateral 30,868 1,820 7,100 2,077 2, 750 2,410 1,775 5,500 1,349 670 1,267 950 3, 200 ±J -A-i^er deducting $176 million participations of other Federal Reserve Banks. 2/ After deducting $ 82 million participations of other Federal Reserve Banks. * Less than $500,000.