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 21, 1961 The average of daily figures of total member bank reserves held during the week ended December 20 increased #91 million to $20,233 million. Estimated currency and coin of member banks increased $120 million and their reserve balances at the Federal Reserve Banks increased $371 million. Estimated required reserves increased $415 million; and estimated excess reserves increased $76 million to $641* million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $535 million, compared with the revised figure of $528 million the week before. The principal changes supplying average reserve "balances with Federal Reserve Banks were increases of $69 million in member bank borrowings and $877 million in Federal Reserve float, and a decrease of $32 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $327 million in U. S. Government securities bought outright and $4l million in gold stock, and increases of $135 million in currency in circulation and $l4o million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $621 million. As of Wednesday, December 20, holdings of U. S. Government securities bought outright were $302 million lower than a week earlier and member bank borrowings were $254 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 20, Dec. 13, Dec. 21, Dec. 20, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 19,007 -327 +1,997 28,957 Held under repurchase agreement 24 Acceptances— Bought outright 45 + 2 5 47 Held under repurchase agreement 1 Discounts and advances—— Member bank borrowings 109 + 69 35 303 Other £0 Float 2, 240 +877 + 89 2,4i8 Total Reserve Bank credit 31,401 +621 +2,085 31,725 Gold stock 16,920 - 4i -1,037 16,890 Treasury currency outstanding 5,5W" - 2 + 193 5, 585 53,9l€09. +578 +1, 241 54, 200 Currency in circulation 34,07%%j . +135 + 899 34,168 Treasury cash holdings 424 + 1 + 10 422 Treasury deposits with F. R. Banks 600 +i4o + 8 ! 558 Foreign deposits with F. R. Banks 215 - 32 31 249 - Other deposits with F. R. Banks 219 - 9 - 224 187 Other F. R. accounts (net) 1,102 - 29 + 84 1, 111 36,632 +205 + 745 36,695 Member bank reserves: With Federal Reserve Banks IT,277 +371 + 495 17,505 Currency and coin (estimated) 2,956 +120 + 278 3,228 Total Reserves held 20,233 +491 + 773 20,733 Required reserves (estimated) 19, 589 +415 + 883 19,780 Excess reserves (estimated) 644 + 76 - 110 953 On December 20, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,986 million, an increase of $70 million for the week and an increase of $66 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT 6F CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Dec. 20, Dec. 13, Dec. 21, 1961 1961 I960 A S S E TS Gold certificate account 15,456 - 39 -1,137 Redemption fund for F. R. notes 1,159 + 1 + 118 Total gold certificate reserves 16,615 38 -1,019 - Cash (357) 295 - 10 9 Discounts and advances 303 + 254 + 223 Acceptances: Bought outright 47 + 4 1 Held under repurchase agreement -- -- 5 U. S. Government securities: Bought outright— Bills 33,,442288 302 + 587 - Certificates 1,699 -7,361 -- Notes 19,984 +7,503 -- Bonds 3,846 -- +1,303 Total bought outright 287957 - 302 +2,032 Held under repurchase agreement — -- - 135 Total U. S. Government securities 28,957 302 +1,897 - Total loans and securities 29,307 44 +2,114 - Cash items in process of collection (1,093) 7,071 701 + 519 Bank premises 110 + 2 Other assets 208 - 9 + 23 TOTAL ASSETS (1,450) 53,606 +1, 600 +1,630 L I A B I L I T I ES Federal Reserve notes (357) 29,025 + 131 + 767 Deposits: Member bank reserves 17,505 4- 588 + 497 U. S. Treasurer—general account 558 - 29 + 66 Foreign 249 + 6 26 Other 187 - 1 - 243 Total deposits 18,499 + 564 + 294 Deferred availability cash items (1,093) 4,653 + 886 + 450 Other liabilities and accrued dividends 77 + 35 TOTAL LIABILITIES (1,450) 52,254 +1,58i +1,546 C A P I T AL A C C O U N TS Capital paid in 445 + 6 + 37 Surplus 817 . - + 42 Other capital accounts 90 + 13 + 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,450) 53,606 +1,600 +1,630 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 34.71o - .6f» - 3-096 Contingent liability on acceptances purchased for foreign correspondents 127 + 10 - 108 w «c —— ~ — ~ wViiyW4.4.M.MIW*U^ Jr W kV ) see comparable figures on combined "basis on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 20, 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 s Within 15 days 300 8 355" I 16 days to 90 days 3 39 6,691 - 79 91 days to 1 year 10, 669 +160 Over 1 year to 5 years 8,738 -375 Over 5 years to 10 years 2,227 Over 10 years 266 Total 303 W 28,957 -302

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1961 Total Boston New Phila- Cleve- Richi- Atlanta Chicago St. Minne- Kansas San York delphia land mond Louis apolis City Dallas Fran- CISCO A S S E TS (in millions of dollars) R G e o T d ld e o m c ta e p l r t g i t o o i n f ld i f c u n a c d t e e r f t a i o f c r i c c o F a u . t n e R t . r e n s o e t r e v s es 15 1 , , 1 4 5 5 9 6 7 6 1 4 4 3,9 2 7 7 4 8 82 7 2 2 1, 3 1 0 0 8 0 1,03 9 8 5 84 7 6 0 2,4 2 9 1 9 2 65 4 9 8 3 2 0 7 8 65 5 6 1 62 3 1 4 2,0 1 1 0 1 8 16,615 778 4,252 894 1,408 1,133 916 2,711 707 335 707 655 2,119 F. R. notes of other Banks Other cash 357 17 99 20 15 22 48 25 11 11 15 27 47 295 18 57 13 21 16 26 51 17 8 9 12 47 Discounts and advances Acceptances: 303 2 138 12 3 5 2 117 3 19 * 2 Bought outright 4? 47 U. S. Government securities: -- -- — - - - - -- — - - Bought outright— Bills Certificates 33,,442288 183 848 198 291 217 188 586 138 74 149 139 417 Notes ll,, 669999 90 420 98 144 108 94 290 69 36 74 69 207 Bonds 1199,,998844 1,064 4,942 1,154 1,695 1,265 1,099 3,415 806 428 871 812 2,433 Held T u o n t d a e l r repurchase agreement __ 22 && 88 00 ,,99 44 55 66 77 __ — 1, 2 5 Q 42 5 _ 7, . l 9 6 5 l 1 ,.,. 1, 6 2 7 2 2 2 2,4 3 5 2 6 6 1, 8 2 3 4 3 ! 1,5 2 9 1 2 1 4,9 6 4 5 8 7 1,1 1 6 5 8 5 62 8 1 l 1, 2 1 6 6 2 8 1,1 1 7 5 6 6 3,5 .47 2 6U 6 9Z Total U. g. Government securities -28x25.7. Ix3h2 L161—l,_6l2—2,456_„ JJ33a__j,,_522 4.2,48 1,168 _621___1l262 1,176 1. 526 Total loans and securities 29, 307 1,544 7,346 1,684 2,459 1,838 1,594 5,065 1,171 621 1,281 1,176 3,528 Cash items in process of collection 8,164 Bank premises 500 1,745 597 667 572 582 1,320 357 229 437 302 856 Other assets 110 4 9 4 8 6 13 24 7 5 6 13 11 208 li 51 11 17 11 12 36 8 5 9 9 26 TOTAL ASSETS 55,056 2,872 13,559 3,223 4,595 3,600 3,191 9,232 2,278 1,214 2,464 2,194 6,634 * Less than $500,000.

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1961 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 L I A B I L I T I ES (in millions of dollars) FFeeddeerraall RReesseerrvvee nnootteess 29,382 1,716 6,737 1,901 2,645 2, 385 1,727 5, 379 1, 275 582 1,196 874 2,965 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess IT,505 671 4,822 764 1,274 744 873 2,677 649 4l6 860 966 2,789 UU..SS.. TTrreeaassuurreerr--ggeenneerraall aaccccoouunntt 558 32 260 25 17 29 43 27 25 21 54 23 2 FFoorreeiiggnn 249 12 1/73 14 23 11 13 35 8 6 10 14 30 OOtthheerr 187 * 13b 4 * 2 1 * 1 * 1 1 4l TToottaall ddeeppoossiittss 18,499 715 5,291 807 1,314 7 86 930 2,739 - 6S3 - 443 925 1,004 2, 862 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 5,746 372 1,143 432 504 362 457 909 271 157 282 237 620 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 77 4 19 5 7 5 4 13 3 2 3 3 9 TTOOTTAALL LLIIAABBIILLIITTIIEESS 53,704 2,807 13,190 3,1%F 4.470 3,538 3, US 9:040" 2,232™' 37184" 2,406 2,118" 6,455" CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn 445 21 121 26 42 20 24 62 15 10 19 25 60 SSuurrpplluuss 817 4o 229 48 75 37 44 116 27 19 35 47 100 OOtthheerr ccaappiittaall aaccccoouunnttss 90 4 19 4 8 5 5 14 4 1 4 4 18 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 55,056 2,872 13,559 3,223 4,595 3,600 3,191 9,232 2, 278 1, 214 2,464 2,194 6,634 Contingent liability on acceptances purchased for foreign c orre spondent s 127 6 2/36 7 12 6 7 18 4 3 5 7 16 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 30,578 1,757 7,056 1,967 2,793 2, 455 1,791 5,522 1,319 660 1, 228 919 3, 111 Collateral for F. R. notes: Gold certificate account 8,425 495 1,600 570 870 755 475 1, 500 4oo 160 325 275 1, 000 Eligible paper 34 12 3 19 U. S. Government securities 22,895 l, 325 5,600 l, 500 1,950 1,725 l, 4oo 4,100 960 510 950 675 2, 200 Total collateral 31,354 l, 820 7, 200 2,082 2, 820 2,480 1,875 5,600 1,363 670 1,294 950 3, 200 - O J 1 wxvx^^xvuo wx uuncj. rcuciaj. r e s e r ve .DctliilS 2/ After deducting $ 91 million participations of other Federal Reserve Banks, * Less than $500,000.