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 mediate release December 28, 1961 The average of daily figures of total member bank reserves held during the week ended December 27 increased a net of $167 million to $20,390 million. Estimated currency and coin of member banks decreased $62 million and their reserve balances at the Federal Reserve Banks increased $229 million. Estimated required reserves increased $98 million; and estimated excess reserves increased $69 million to $643 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $427 million, compared with the revised figure of $465 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $286 million in Federal Reserve float, $107 million in member bank borrowings, and $48 million in U. S. Government securities held under repurchase agreement, and a decrease of $89 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $162 million in U. S. Government securities bought outright and $31 million in gold stock, and an increase of $99 million in currency in circulation. Total Reserve Bank credit increased $284 million. As of Wednesday, December 27, holdings of U. S. Government securities bought outright were $164 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $247 million higher, and member bank borrowings were $234 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 27, Dec. 20, 1 Dec . 28, Dec. 27, and related items 1961 1961 i i960 1961 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 28,845 -162 +1,899 28,793 Held under repurchase agreement 48 + 48 - 80 224477 Acceptance s-- Bought outright 47 + 2 - 3 47 Held under repurchase agreement * * - 5 3 Discounts and advances-- Member bank borrowings 216 +107 + 167 537 Other 2 + 2 - 5 15 Float 2, 526 +286 + 376 2,249 Total Reserve Bank credit 31, 685 +m +2,349 31,891 Gold stock 16.889 - 31 - 993 16,890 Treasury currency outstanding 5> 584 - 4 + 186 5,585 54,158 +249 +1, 542 54,366 Currency in circulation 34,171 + 99 + 976 34,180 Treasury cash holdings 421 - 3 4- 20 425 Treasury deposits with F. R. Banks 511 - 89 m* 11 264 Foreign deposits with F. R. Banks 207 - 8 - 53 237 Other deposits with F. R. Banks 238 + 19 - 153 267 Other F. R. accounts (net) 1,106 + 4 + 87 1,109 36,653 + 21 + 865 3366,,448822 Member bank reserves: With Federal Reserve Banks 17,506 +229 + 678 17,884 Currency and coin (estimated) 2,884 - 62 + 265 3,375 Total reserves held 20,390 +167 4. 943 21,259 Required reserves (estimated) 19,747 + 98 4- 994 19,835 Excess reserves (estimated) 643 + 69 51 1.424 - * Less than $500,000. On December 27, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $6,111 million, an increase of $125 million for the week and an increase of $250 million from the comparable date a year ago.

H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS (in millions of dollars) Change since Dec. 27, Dec . 20, Dec. 28, 1961 1961 I960 A S S E TS Gold certificate account 15, 456 -1, 052 - — Redemption fund for F. R. notes 1,159 - - + 118 Total gold certificate reserves 16,615 - 934 -- Cash (387) 287 - 8 - 32 Discounts and advances 552 + 249 + 474 Acceptances: Bought outright 4477 1 Held under repurchase agreement 3 + 3 - 14 U. S. Government securities: Bought outright— Bills 3,264 164 + 400 • Certificates 1,699 — - -7,361 Notes 19,984 +7,503 -- Bonds 3,846 — — +1,303 Total bought outright 25:793 - 164 +1,845 Held under repurchase agreement 247 + 247 - 30 Total U. S. Government securities 29,040 + 83 +1,815 Total loans and securities 29,642 4- 335 +2, 274 Cash items in process of collection (1, 240) 5,926 -1,145 + 866 Bank premises 110 + 2 Other assets 230 + 22 + 28 TOTAL ASSETS (1,627) 527610 796 +2, 204 - L I A B I L I T I ES Federal Reserve notes (387) 29,032 + 7 + 885 Deposits: Member bank reserves 17,884 + 379 +1, 300 U. S. Treasurer—general account 264 - 294 - 152 Foreign 237 - 12 - 28 Other 267 4- 80 - 154 Total deposits 18,652 + 153 + 966 Deferred availability cash items (1,240) 3,677 - 976 + 233 Other liabilities and accrued dividends 79 + 2 + 34 TOTAL LIABILITIES (1,627) 51,440 8l4 +2,118 - C A P I T AL A C C O U N TS Capital paid in 445 — — + 37 Surplus 817 — W + 42 Other capital accounts 108 + 18 + 7 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 627 ) 52,810 796 +2,204 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 34.6% - .1# - 3.3/o Contingent liability on acceptances purchased for foreign correspondents 125 2 - 107 - * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOANS MB SECURITIES, DECEMBER 27, 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 53% 13 %W~ +2# 16 days to 90 days 18 37 6,682 - 9 91 days to 1 year 10,497 -172 Over 1 year to 5 years 8,738 Over 5 years to 10 years 2,227 Over 10 years 266 Total 552 50 29,040 + 83

H. 4.l(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER' 27, I96I 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 (in millions of dollars) Gold certificate account 15,456 856 3,670 86l 1,405 967 805 2,475 646 317 707 658 2,089 Redemption fund for F- R. notes 1,159 65 279 71 100 95 70 212 48 27 51 34 107 Total gold certificate reserves 16,615 921 3,949 932 1, 505 1,062 875 2,687 694 344 758 692 2,196 F. R. notes of other Banks 387 20 104 21 19 23 50 33 16 13 16 26 46 Other cash 287 17 54 10 21 18 25 50 18 8 9 12 45 Discounts and advances 552 22 155 13 49 58 13 36 14 1 21 11 159 Acceptances: Bought outright 47 47 Held under repurchase agreement 3 3 U. S. Government securities: Bought outright-- Bills 3,264 174 807 189 277 206 179 558 132 70 142 133 397 Certificates 1,699 90 420 98 144 108 94 290 69 36 74 69 207 Notes 19,984 1,064 4,942 1,154 1,695 1,265 1,099 3,415 806 428 871 812 2,433 Bonds 1*846 205 951 222 . ,. ,3 ,26 243„ 211 657 155 83 168 156 469 Total 28,793 1,533 7,120 1,663 2,442 1,822 1,583 4,920 1,162 617 1,255 1,170 3,506 Held under repurchase agreement 247 247 Total U. S. Government securities 29,oho ,1,533 7,367 1,663 2,442 1,822 1,583 4,920 1,162 617 1,255 1,170 3,506 Total loans and securities 29,642 l, 555 7,572 1,676 2,491 1,880 1,596 4,956 1,176 618 1,276 1,181 3,665 Cash items in process of Ban c k ol l p e r c e t m i i o s n e s 7,166 461 1,455 422 638 511 573 1,116 306 189 340 356 799 110 4 9 4 8 6 13 24 7 5 6 13 11 Other assets 220 12 57, 13 18 If 13 39 9 5 11 10 28 TOTAL ASSETS 54,437 2,990 13,200 3,078 4,700 3,515 3,145 8,905 2,226 1,182 2,4l6 2,290 6,790

H.4.1(c) STATEMENT OF COKDITION OF FACE FEDERAL RESERVE BANK ON DECEMBER 27, lg 6l Total Phila- Cleve- Rich- Atlanta St. Minne San delphia land mond Fran- Louis apolis L I A B I L I T I ES In millions of dollars' cisco Federal Reserve notes Deposits: 29,419 1,719 6,750 1,904 2,643 2, 390 1,723 5,379 1,273 582 1,196 874 2,986 Member bank reserves F O U t o . T h r S o e e . t i r a g T l n r e d a e s p u o r s e i r t - s ge neral account 1 1 8 7 , , 6 2 2 2 8 5 6 3 6 8 2 7 7 4 4 o Q 7 q j 1 2 9 q 2 j 1 8 2 1 5 4 , , / 2 2 9 2 1 2 0 7 2 6 7 7 2 7 7 9 1 1 6 7 2 3 5 7 1 l , , 4 l 1 2 3 6 2 9 1 7 4 7 7 2 1 1 1 9 2 1 5 8 8 7 1 4 2 1 8 2 2 3 2 2 , , 5 5 8 3 3 2 1 5 0 3 1 6 6 7 1 4 1 8 1 9 3 4 4 2 1 0 * 8 5 4 9 9 8 1 1 6 3 5 1 0 8 6 1 1 , , 0 0 3 1 1 1 4 3 0 0 — 3 3 • , , 1 0 ? 4 2 4 3 ? 4 8 i 6 Deferred availability cash items Other liabilities and accrued 4,917 368 833 294 508 328 466 732 232 139 244 302 471 dividends TOTAL LIABILITIES 53,0 7 6 9 7 O QOI 4 L 12,82 2 7 2 2,99 4 9 4,57 7 4 3,45 4 1 3,07 4 1 8,71 1 0 4 2,179 3 1,15 2 1 2,35 3 8 2,213 g 6,61 9 0 CAPITAL ACCOUNTS Capital paid in S Ot u h r e p T l r O u T s c A a L p i L t I a A l BI a L c I c T o I un E t S s A ND 1 8 4 0 1 4 8 7 5 4 2 5 o 1 1 22 2 2 9 3 1 4 2 J 8 L 6 7 4 9 5 2 2 3 7 0 7 4 2 6 4 4 1 1 1 6 7 2 6 1 2 _ 5 7 L 1 1 2 9 0 1 3 4 9 5 4 2 5 7 5 2 6 10 0 0 0 CAPITAL ACCOUNTS 54,437 ,2,990 13,200 1.078 4.700 2^515 1,182 2,4l6 2.2Q0 6.790 Contingent liability on acceptances purchased for foreign correspondents F. R. notes outstanding Collateral for F. R. notes: 30,605 1,766 7,044 1,962 2,790 Gold certificate account Eligible paper 8,395 495 1,600 570 870 46 U. S. Government securities -- — — 12 22,895 1,325 5,600 1,500 Total collateral 31,336 1,820 7,200 2,082 2,820 I 7 15 AGENTS' ACCOUNTS 2,463 1,789 5,531 660 1, 228 919 3,125 755 475 1,500 160 325 245 1, 000 20 1,725 1,4-00 4,100 5 - - 10 950 6 — 7 — 5 2, 200 2,480 1,875 5,600 670 1,295 920 3,200 1/ Aner deducting $90 aniion : : :: : : :: ^ * Less than $500,000.