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 December l4, 1961 The average of daily figures of total member bank reserves held during the week ended December 13 increased a net of $1 million to $19,766 million. Estimated currency and coin of member "banks increased $177 million and their reserve balances at the Federal Reserve Banks decreased $176 million. Estimated required reserves decreased $48 million; and estimated excess reserves increased $49 million to $593 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $553 million, compared with the revised figure of $509 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were increases of $360 million in currency in circulation and $31 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $60 million in U. S. Government securities bought outright and $84 million in Federal Reserve float, and decreases of $4l million in Treasury deposits with Federal Reserve Banks and $30 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $149 million. As of Wednesday, December 13, holdings of U. S. Government securities bought outright were $l44 million lower than a week earlier and member bank borrowing, were $l4 million higher. Outright holdings of bills decreased $205 million; certificates, notes, and bonds increased $7 million, $39 million, and $15 million, respectively. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 13, Dec. 6, Dec,- 14, Dec. 13, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 29,334 + 60 +1,953 29, 259 Held under repurchase agreement — «- — — — — Acceptances--bought outright 4433 + 2 - 6 43 Discounts and advances— Member bank borrowings • 4o + 5* - 30 49 Other mm wm - 1 _ 6 mm mm Float 1, 363 + 84* + 91 1,603 Total Reserve Bank credit 30,780 +149 +2,0 02 30,954 Gold stock 16,961 - 14 -1,1 22 16,925 Treasury currency outstanding 5,59/0 • + l + 195 5, 592 53,3# . +136 +1,075 53,471 Currency in circulation 33,9301 ' +360 + 900 34, 020 Treasury cash holdings 423 + 4 + 13 433 Treasury deposits with F. R. Banks 46o - 4l - 62 587 Foreign deposits with F. R. Banks 247 + 31 + 10 243 Other deposits with F. R. Banks 228 - 30 - 452 188 Other F. R. accounts (net) 1,131 - 12 + 94 1,083 36, Wfe • +313 + 504 36,554 Member bank reserves: With Federal Reserve Banks 16,906 -176 + 572 16,917 Currency and coin (estimated) 2,860 +177 + 262 3,239 Total reserves held 19,766 + 1 + 834 20,156 Required reserves (estimated) 19,173 - 48 + 951 19, 336 Excess reserves (estimated) 593 + 49 - 117 820 *December 6 figures revised. On December 13, 196l, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,916 million, an increase of $122 million for the week and an increase of $89 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) Change since Dec. 13, Dec/ 6, Dec. 14, 1961 1961 I960 A S S E TS Gold certificate account 15,495 78 -1,145 Redemption fund for F. R. notes 1,158 + 2k + 124 Total gold certificate reserves 16,653 54 -1,021 - * Cash (338) 305 28 - 11 Discounts and advances 49 + 14 42 Acceptances—bought outright 43 + l 5 J. S. Government securities: Bought outright— Bills 3,730 205 + 663 Certificates 1,699 + 7 -7,460 Notes 19,984 + 39 +7,452 Bonds 3»846 + 15 +1,251 Total "bought outright 29,259 iM +1,906 Held under repurchase agreement — Total U. S. Government securities 29,259 ikb +1,906 - Total loans and securities 29,351 129 +1,859 - Cash items in process of collection (929 ) 5,370 + 757 + 225 Bank premises 110 + 3 Other assets 217 + 20 + 25 TOTAL ASSETS (1,267) 52,006 + 566 +1,080 L I A B I L I T I ES Federal Reserve notes (338) 28,894 + 205 + 726 Deposits: Member bank reserves 16,917 + 11 + 291 U» S. Treasurer—general account 587 + 207 - 21 Foreign 243 + 5 + 31 Other 188 - 82 - 484 Total deposits 17,935 + i4i - 183 Deferred availability cash items (929) 3,767 + 266 + 424 Other liabilities and accrued dividends 77 - 4 + 32 TOTAL LIABILITIES (1,267) 50,673 + 608 + 999 C A P I T AL A C C O U N TS Capital paid In 439 + 4 + 32 Surplus 817 + 42 Other capital accounts 77 ~ 46 + 7 (1,267) 52,006 + 566 +1,080 .t W4-AJ.WW.UV, J.COCXVCO UV UC^IUD, and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 35-3# - 2.6# Contingent liability on acceptances purchased • for foreign correspondents 2 - 120 + * 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. DECEMBER 13, 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 ~ W~ 6 374 - 4 16 days to 90 days 37 6,770 - 51 91 days to 1 year 10,509 -115 Over 1 year to 5 years 9,113 + 22 Over 5 years to 10 years 2,227 + 4 Over 10 years 266 Total 59 55 29,259 -144

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 13, 19^ San Total Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas Fran- York delphia land mond Louis apolis City cisco A S S E TS (m millions of dolJia rs) Gold certificate account 15,495 697 3,768 881 1,281 1,120 867 2,448 694 329 672 598 2,140 Redemption fund for F. R. notes 1,158 65 279 72 100 96 71 212 48 27 46 34 108 Total gold certificate reserves 16,653 762 4,047 953 1,381 1,216 938 2,660 742 356 718 632 2,248 F. R. notes of other Banks 338 17 102 15 10 20 47 25 8 10 16 22 46 Other cash 305 18 58 14 22 16 28 55 17 8 9 12 48 Discounts and advances 49 12 5 4 1 2 2 13 1 8 * 1 Acceptances: - - Bought outright 43 43 — U. S. Government securities: Bought outright— Bills 3,730 198 923 216 316 236 205 637 % 80 % 454 Certificates 1,699 90 420 98 144 108 94 290 36 207 Notes 19,984 i,o64 4,942 1,154 1,695 1,265 1,099 3,415 806 428 871 812 2,433 Bonds 3,846 205 951 222 326 243 211 657 155 83 168 156 469 Total 29,259 1,557 7,236 1,690 2,481 1,852 1,609 4,999 1,181 627 1,276 1,188 3,563 Held under repurchase agreement Total U. S. Government securities 29,259 1,^7 7,236, 1,690 2,481 1,852 1,609 4,999 1,181 627 1,276 1,188 3,563 Total loans and securities 29,351 1,569 7,284 1,694 2,482 1,854 1,611 5,012 1,181 628 1,284 1,188 3,564 Cash items in process of collection 6,299 439 1,201 392 489 467 480 1,099 289 197 309 259 678 Bank premises 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 217 12 53 12 20 14 13 35 9 5 9 9 26 TCTAL ASSETS 53,273 2,821 12,754 3,084 4,412 3,593 3,130 8,910 2,253 1,209 2,351 2,135 6,621 *Less than $500,000.

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 13, I96I Total Boston New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas Fr S a a n n - York delphia land mond Louis apolis City cisco L I A B I L I T I ES (In millions of dollars) FFeeddeerraall RReesseerrvvee nnootteess 29, 232 1,708 6,699 1,889 2,635 2,366 1,705 5,356 1,269 580 1,195 868 2,962 DDeeppoossiittss:: MMeemmbbeerr ttaannkk rreesseerrvveess 16,917 634 4,541 735 1,211 759 908 2,492 668 4ll 828 938 2,792 FF UU OO oo tt .. rr hh SS ee ee .. ii rr gg TT nn rr eeaassuurreerr--ggeenneerraall aaccccoouunntt 1 2 5 8 4 8 8 3 7 1 4 * 2 9 1 1 / 3 8 6 6 1 9 1 6 1 4 0 2 3 1 2 9 1 5 3 1 0 1 3 1 3 9 6 3 2 3 4 3 8 * 0 2 6 * 9 1 4 1 0 l 1 3 * 4 1 7 4 3 5 3 0 TToottaall ddeeppoossiittss 17,935 695 4,827 810 1,273 823 961 2,591 706 446 880 983 2,940 DD OO ee tt ff hh ee ee rr rr rr ee ll dd ii aabb aa ii vvaa ll ii ii ll tt aa ii bb ee ii ss ll aa ii nn tt dd yy aa cc cc aa cc ss rr hh uuee iitt dd ee mmss 4,696 350 844 304 374 338 387 761 229 151 216 206 536 ddiivviiddeennddss — J -7 4 .... 19 4 7 5 4 13 3 2 3 3 10 TTOOTTAALL LLIIAABBIILLIITTIIEESS 51,940 2,757 12, 389 3,007 4,289 3,532 3,057 8,721 2,207 1,179 2,294 2,060 6,448 CAPITAL ACCOUNTS SS CC uu aa rr pp pp ii ll tt uu aa ss ll ppaaiidd iinn 439 21 121 25 40 20 24 62 15 10 19 25 57 817 4o 229 48 75 37 44 116 27 19 35 47 100 OOtthheerr ccaappiittaall aaccccoouunnttss 77 3 15 4 8 4 5 11 4 1 3 3 16 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 53,273 2,821 12,754 3,084 4,412 3,593 3,130 8,910 2,253 1,209 2,351 2,135 6,621 Contingent liability on acceptances purchased for foreign c orrespondents 117 6 2/33 7 11 5 6 16 4 1 5 7 ill FEDERAL RESERVE AGENTS' ACCOUNTS jj . n. notes outstanding 30,494 1,760 7,079 1,958 2,776 2,441 1,767 5,480 1,314 662 1,225 921 3,111 Collateral for F. R. notes: Gold certificate account 8,425 495 1,600 570 870 755 475 1,500 400 160 325 275 1,000 Eligible paper 12 4 8 U. S. Government securities 22,875 1,325 5,600 1,500 1,950 1,705 1,400 4,100 960 510 950 675 2,200 Total collateral 31,312 1,820 7,200 2,074 2,820 2,460 1,875 5,600 1,360 670 1,283 950 3,200 11 // A A 'ff*1t1" erf-rv- la dJ3 e#3d..u c^ Jt- iJ: nA*g $ 11 r7r 4I. * million participations of other Federal Ttesprvp TtRnVn. ' 2/ After deducting $84 million participations of other Federal Reserve Banks. * Less than $500,000.