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 Fof " d i a te release r November 24, I90I The average of daily figures of total member bank reserves held during the week ended November 22 increased a net of $170 million to $19,910 million. Cash allowed as reserves decreased $11 million and member bank reserve balances at the Federal Reserve Banks increased $l8l million. Estimated required reserves increased $1^8 million; and estimated excess reserves increased $12 million to $598 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $$08 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 $122 million in Federal Reserve holdings of U. S. Government securities and $557 million in Federal Reserve float. The principal offsetting changes were decreases of $32 million in member bank borrowings and $8b million in gold stock, and increases of $128 million in currency in circulation, $30 million in Treasury deposits with Federal Reserve Banks, $62 million in foreign deposits with Federal Reserve Banks, and $152 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $648 million. As of Wednesday, November 22, holdings of U- S. Government securities bought outright were $3^8 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $75 million higher, and member bank borrowings were $240 million lower. Outright holdings of bills, certificates, notes, and bonds, increased $223 million, $3 million, $74 million, and $48 million, respectively. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 22. Nov. 15, i Nov. 23, Nov. 22, and related items 1961 1961 1. 960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 28, 46l + 81 + 783 28,698 Held under repurchase agreement- 127 + 4l - 26 185 Acceptances-- Bought outright- 4l + 1 6 40 Held under repurchase agreement *** —~ * 12 Ml Discounts and advances-- Member tank borrowings 90 - 32 - 9 375 Other 2 - 1 20 2 - Float 1, 743 +557 + 211 1,432 Total Reserve Bank credit 30,465 +548 4- 923 30,732 Gold stock 17,190 , - 86 809 16,976 Treasury currency out steading + 2 + 194 5,587 53,24^1 r +5D5 + 309 53,295 Currency in circulation 33,35to , +123 + 819 33,522 Treasury cash holdings 4i4 + 12 + 7 412 Treasury deposits with F. R. Banks 506 + 30 + 37 443 Foreign deposits with F. R. Banks 309 + 62 + 85 212 Other deposits with F. R. Banks 251 - 2 - 137 214 Other F. R. accounts (net) 1,144 +152 + 71 1,142 35,9751 ' +382 + 881 3355,,994455 Member bank reserves: With Federal Reserve Banks 17,265 +181 - 574 17,350 Cash allowed as reserves (estimated) 2,645 - 11 +1, 723 2,950 Total reserves held 19,910 +170 +1,149 20,300 Required reserves (estimated) 19,312 +158 +1; 158 19,305 Excess reserves (estimated) 598 + 12 9 995 * Less than $500,000. On November 22, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,800 million, a decrease of $204 million for the week and an increase of $313 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Nov. 22, Nov. 1), Nov. 23, 1961 1961 I960 A S S E TS Gold certificate account 15,595 - 307 -1, 081 Redemption fund for F. R. notes 1,118 + 3 + 102 Total gold certificate reserves 157713 - 3O5 979 * Cash (310) 358 10 Discounts and advances 377 - 240 + 54 Acceptances: Bought outright 40 + 1 8 Held under repurchase agreement 3 - 3 U. S. Government securities: Bought outright— Bills 3,422 + 223 55 Certificates 1,692 + 3 -7, 48l Notes 19,892 + 74 +7, 355 Bonds 3,692 + 48 +1,086 Total bought outright 28,698 + 3%5 +1, 015 Held under repurchase agreement 185 + 75 + 151 Total U. S. Government securities 287853 + 423 +1, 166 Total loans and securities 29,300 + 181 +1, 209 Cash items in process of collection (1,071) 5,196 608 + 667 Bank premises 111 + 4 Other assets 165 + 21 + 26 TOTAL ASSETS (1,381) 51%%3 - 720 4- 927 L I A B I L I T I ES Federal Reserve notes (310) 28,442 + 250 + 700 Deposits: Member bank reserves 17,350 + 85 _ 11 U. S. Treasurer--general account 443 - 192 - 37 Foreign 212 61 - 9 Other 214 - 71 165 - Total deposits 18,219 - 239 222 Deferred availability cash items (1,071) 3,764 - 748 4- 349 Other liabilities and accrued dividends 77 + 4 4r 29 TOTAL LIABILITIES (1,381) (1,381) 5500,,550022 - 733 4- 856 C A P I T AL A C C O U N TS Capital paid in 433 4- 27 Surplus 817 42 4- Other capital accounts 91 + 13 2 4- TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,38i) $1,843 - 720 4- 927 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--net consolidated) 35>6$> - 2.4i Contingent liability on acceptances purchased for foreign correspondents 112 l - 115 * 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 22, 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 372/ 10 515 + 5 16 days to 90 days 30 6, 417 +5,134 91 days to 1 year 10,514 -4,838 Over 1 year to 5 years 8,976 + ill Over 5 years to 10 years 2, 213 + 1 Over 10 years -- 248 + 10 Total 377 So 28,883 + 423

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 22, I96l Total Boston Fhila- Cleve- Rich- Atlanta Minnedelphia mond Fran- Louis apolis A S S E T S (in millions of dollars) Gold certificate account 15,595 888 Redemption fund for F. R. notes 1,118 2,166 Total gold certificate reserves 16,713 3,953 F. R. notes of other Banks 310 Other cash 358 80 Discounts and advances 377 Acceptances: Bought outright 4o U. S. Government securities: Bought outright-- Bills B C N o o e n t r d e t s s i ficates 1 3 1 9 , , , 4 8 6 9 9 2 2 2 2 1,0 1 5 8 9 9 2 0 4,919 4 8 1 4 9 6 1,149 19 9 7 8 1,6 1 2 8 4 9 7 3 0 1,2 2 1 5 1 0 9 7 7 1,094 1 9 8 3 8 3,3 2 5 9 8 8 9 5 9 8 1 0 3 6 3 8 8 42 3 7 6 6 4 8 1 6 4 7 7 9 4 2,4 4 2 2 0 1 2 6 7 Total 2 3 8 , , 6 69 92 8 21- 31' 233 631 149 79 161 450 Held under repurchase agreement 1*528 7,097 185 17^57 2$33 XBlb 4,904 1,158 615 1,251 3,495 Total U. s. Government securities 28,883 1,528 1,166 3,495 Total loans and securities 29,300 1,536 7,383 1,687 2,473 1,828 1,597 1,171 1,168 3,526 Cash items in process of collection B O a t n h k er p a r s e s m e i t s s e s 6,2 1 6 1 7 1 46 4 2 1,161 94 395 50 8 5 459 6 1 4 4 59 1 24 ,0 49 26 1 4 192 5 335 6 2 1 6 3 0 7 1 2 1 6 163_ 8 40 15 11 10 28 6_ 4_ L_ 7_ 20 TOTAL ASSETS 53,224 2,883 12,709 3,093 4,438 3,483 3,019 Q,< 2,168 1,248 * 2,394 2,163 6,634

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 22, 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 28,752 1,682 6, 570 1,867 2, 587 2, 323 1,658 5,302 1, 240 574 1,175 857 2,917 Deposits: Member bank reserves 17,350 701 44,,668811 773 1,244 730 850 2,611 643 456 878 972 2,811 U.S. Treasurer-general account 443 32 42 38 34 32 34 38 25 26 32 29 81 Foreign 212 10 1/68 11 18 9 11 28 7 5 9 12 24 Other 214 1 156 4 1 3 1 1 1 * 1 * 45 Total deposits 18,219 744 4,947 826 1,297 774 896 2,678 676 487 920 1,013 2,961 Deferred availability cash items 4,835 388 806 319 423 319 388 807 203 155 239 214 574 Other liabilities and accrued dividends 77 4 20 4 7 5 4 14 3 1 3 3 9 TOTAL LIABILITIES 51,883 2,818 12,343 3,016 4,314 3,421 2,946 8,801 2,122 1,217 2,337 2,087 6,461 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 91 4 19 4 9 5 5 14 4 2 4 4 17 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,224 2,883 12,709 .3,093 4,438 3,483 3,019 8,992 2,168 1,248 2,394 2,163 6,634 Contingent liability on acceptances purchased for foreign correspondents 112 5 22// 3311 7 10 5 6 16 4 2 5 7 14 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,897 1,735 6,874 1,928 2,723 2,389 1,725 5,412 11,,229944 654 11,,220088 916 33,,003399 Collateral for F. R. notes: Gold certificate account 8,545 495 1,500 570 870 775 475 1,700 400 160 325 275 1,000 Eligible paper 88 30 13 45 — — — — — — - — — — — — — — — — — — U. S. Government securities 22,355 1,325 5,600 1,500 1,950 1,635 1,300 3,800 960 510 900 675 2,200 Total collateral 30,988 1,820 7,100 2,100 2,820 2,410 1,775 5,500 1,373 670 1,270 950 3, 200 1/ After deducting $144 million participations of other Federal Reserve Banks. 2/ After deducting $8l million participations of other Federal Reserve Banks. * Less than $500,000.