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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release April 6, 1961 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member bank reserves held during the week ended April 5 decreased a net of $112 million to $18,679 million. Cash allowed as reserves decreased $139 million and member "bank reserve "balances at the Federal Reserve Banks increased $27 million. Estimated required reserves decreased $50 millionand estimated excess reserves decreased $62 million to $537 million. Excess reserves exceeded member bank "borrowings at the Federal Reserve Banks by $430 million, compared with the revised figure of $521 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $112 million in U. S. Government securities bought outright and $34 million held under repurchase agreement, and $29 million in member bank borrowings, and a decrease of $68 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $62 million in Federal Reserve float, and increases of $123 million in currency in circulation and $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $110 million. As of Wednesday, April 5, holdings of U. S. Government securities bought outright were $436 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $3 million higher, and member bank borrowings were $8 million higher. Outright holdings of bills, notes, and bonds increased $296 million, $82 million, and $58 million, respectively. During the week $35° million 2 l/4 per cent bonds maturing December 15, 1962 were exchanged for the new issue of 3 5/8 per cent bonds maturing November 15, 1967• Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement Acceptances—bought outright Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R..accounts (net) Member bank reserves: With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Change from week ended Wednesday, April 6, April 5> March 29, April 5, 1961 I960 1961 1961 (][n millions of dollars) 26,836 34 46 +112 + 34 - 2 +1,572 + 14 + 13 27,124 3 45 107 8 942 27,973 17,388 5,40910' 50,770 + 29 - 1 - 62 +110 - 1 + 1 +110 - 597 23 + 44 +1,023 -2,018 + 68 - 927 114 7 . 913 28,206 17,389 5,410 51,005 • +123 31, 4 0 . ' -17 - 68 429 250 + 32 + 18 388 - 4 1,028 + 84 34,402 + 244 - 14 - 80 + 87 + 32 + 86 + 355 31,953 410 222 288 384 1,025 34,282 + 27 -139 -112 - 50 - 62 -1,281 +2,092 + 811 + 711 + 100 16,723 2,448 19,171 18,307 864 16,369 2,310 18,679 18,142 537 On April 5, 196l, U. S. Government securities held in custody by the federal Reserve Banks for foreign account were $6,003 million, an increase of $91 million for the week and an increase of $1,253 million from the comparable date a year ago. H.4.1(a) CONSOLIDATED ejCATSWujUB1 GUKDITION OF THE TViLVE.tEDEEAL BBfi&VE BANKS (In million^ d| dbllars) April 5, ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 16,057 1,039 17,095 (438) * + 13 k 17 -2,102 + 89 -2,013 Ik 7 + 9 - 649 + -- 13 2,623 5,398 16,383 2,720 27,124 3 27,127 + + + + + + 82 58 436 3 439 +1,360 -3,109 +3,373 + 236 +1,860 54 +1,806 27,293 + 446 +1,170 4,148 109 232 49,323 + 243 + 20 + 712 + 294 + 6 - 51 - 585 27,105 + 110 + 148 16,723 222 288 384 17,617 + 731 267 + 20 + 19 + 503 + + - 938 195 123 32 978 3,235 30 (l,381) 47,987 + + 206 - > (9U3) L I A B I L I T I E S Federal™Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES + + + 45 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 445 121 Change since March 29, April b, I960 (943) 296 «• - - 85 — •» + 698 5 - 629 CAPITAL ACCOUNTS + sari 42)0 . — t Capital paid in 3 + 42 -Surplus 817 26-r Other capital accounts 97%>. + 712 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,381) 49, 323 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 37*9$ - 3.7# Contingent liability on acceptances purchased + 12 for foreign correspondents 171 * 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. APRIL 5, 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 Changes Discounts and during week Holdings Acceptances advances +205 10 114 Within 15 days 572 + 66 4,224 16 days to 90 days 7 35 11,014 + 29 91 days to 1 year Over 1 year to 5 years 9,403 -253 +384 Over 5 years to 10 years 1,767 + 6 Over 10 years 147 Total 121 +439 55 27,127 Jj ^ ft /~t-. !•, c> i'1 <v WW w w m w WW WW w w H.4.l(b) STATEMEHT OF tUC^MTlCS OF EACH mmBBLKESEKTB BA8KCW APRIL % 1961 Total Bostcn ASSETS Gold certificate account Redemption fund for F. E. notes Total gold certificate reserves San Francisco Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas New Louis apolis City York delphia land mond (In millions of dol]Lars) 16,057 1,039 17,096 790 6l ti$i 4,306 241 4,547 901 64 m 1,331 90 1,421 974 87 1,061 823 2,524 183 59 titi2 2,707 " 680 1 336 25 "3&L 713 48 fbi 685 32 W 2,039 104 2,-1-43 F. R. notes of other Banks Other cash 438 445 28 30 131 97 19 23 32 38 17 25 80 30 68 9 26 9 9 15 13 23 23 36 63 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Botes Bends Total Held under repurchase agreement 121 10 19 6 3 2 4 44 6 14 6 3 4 2,623 5,398 16,383 2,720 27,124 3 140 287 872 145 1,444 648 1,335 4,052 673 6,708 3 152 312 946 157 1,567 222 458 1,389 231 2,300 166 342 1,037 172 1,717 144 297 901 149 1,491 448 922 2,799 465 4,634 106 218 659 109 1,092 61 126 634 114 235 714 119 1,102 107 219 666 110 1,102 647 1,965 326 3,253 Total U. S. Government securities 27,127 1,444 6,711 1,567 2,300 1,717 1,491 4,634 1,092 634 1,182 1,102 3,253 Total loans and securities 27,293 1,454 6,775 1,573 2,303 1,719 1,495 4,678 1,098 648 1,188 1,105 3,257 5,091 109 232 357 4 12 1,036 9 58 350 4 12 383 8 20 368 6 15 377 12 14 863 23 38 208 7 10 145 5 6 250 5 11 221 14 9 533 12 27 50,704 2,736 12,653 2,946 4,205 3,211 2,890 8,416 2,038 1,183 2,243 2,112 6,071 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 45 45 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 5, 3-961 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,543 1,583 6,394 1,809 2,489 2,119 1,577 5,134 1,187 588 1,135 812 2,716 4,719 13 1/ 85 ~ 318 5,135 744 .12 1,216 18 693 22 814 28 986 32 2,599 24 1 17261 732 2,321 15 4o 1 27377 2,377 415 19 2 "*775 891 7 15 1 ~W 914 606 20 10 384 17,617 719 12 14 * "W 535" * "551 1 855 1 l7035 4,178 343 747 284 330 295 325 70? 167 122 196 190 472 16,723 222 288 16 26 4 30 49,3W 5,6ts 12,2W4—27555—57585 Contingent liability on acceptances purchased for foreign correspondents 20 4241 117 229 4o 817 23 .«SL: 50,704 2,7^6 "*2,653 171 8 f/48 24 48 5 39 75 9 2,946 4,205 ' 10 13 37*58 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS San Francisco Total Boston LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas Louis apolis City delphia land mond (in millions of dollars) New York 16 7 12 16 34 53 27710" 57817 87525 1,993 1,152 2,107 2,030 4 5,902 23 44 14 6 60 116 16 10 19 2 18 35 3 24 47 3 55 100 14 2,890 8,4l6 2,038 1,183 2,243 I6! ' 2ST % 3,211 2 % 2,112—6,071 1 8 24 10 21 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 1,638 Z/flR 17552 27^32 27177 Collateral for F. R. notes: 870 670 650 475 2,000 Gold certificate account 5 Eligible paper 21,210 1,275 5,100 1,325 1,880 1,560 U. S. Government securities 30,202 1,750 7,100 1,980 2,750 2,230 Total collateral 1/ After deducting $203 million participations of other Federal Reserve Banks 2/ After deducting $123 million participations of other Federal Reserve Banks 1,^38 5,255 1,221 662 1,157 858 2,826 475 1,700 380 6 180 300 275 1,000 1,200 1,675 3,800 5,500 625 2,100 935 1,321 510 690 6 900 1,206 900 3,100 * Less than $500,000.
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