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FEDERAL RESERVE Factors A f f e c t i n g Bank R e s e r v e s and Condition S t a t e m e n t of F.R. B a n k s H.4.1 For immediate r e l e a s e August 10, 1961 The a v e r a g e of d a i l y f i g u r e s of t o t a l member "bank r e s e r v e s h e l d d u r i n g t h e week ended August 9 d e c r e a s e d $39 m i l l i o n t o $19, 247 m i l l i o n . Cash a l l o w e d a s r e s e r v e s d e c r e a s e d $192 m i l l i o n and member bank r e s e r v e b a l a n c e s a t t h e F e d e r a l Reserve Banks i n c r e a s e d $153 m i l l i o n . E s t i m a t e d r e q u i r e d r e s e r v e s d e c r e a s e d $137 m i l l i o n ; and e s t i m a t e d e x c e s s r e s e r v e s i n c r e a s e d $98 m i l l i o n t o $574 m i l l i o n . Excest r e s e r v e s exceeded member t a n k b o r r o w i n g s a t t h e F e d e r a l Reserve Banks by $451 m i l - l i o n , compared w i t h t h e r e v i s e d f i g u r e of $401 m i l l i o n t h e week b e f o r e . The p r i n c i p a l changes s u p p l y i n g a v e r a g e r e s e r v e b a l a n c e s w i t h F e d e r a l Reserve Banks were i n c r e a s e s of $255 m i l l i o n i n U. S. Government s e c u r i t i e s bought o u t r i g h t and $40 m i l l i o n h e l d u n d e r r e p u r c h a s e agreement, $48 m i l l i o n i n member bank b o r r o w i n g s , and $21 m i l l i o n i n g o l d s t o c k , and a d e c r e a s e of $22 m i l l i o n i n T r e a s u r y cash h o l d i n g s . The p r i n c i p a l o f f s e t t i n g changes were a d e c r e a s e of $75 m i l l i o n i n F e d e r a l Reserve f l o a t , and i n c r e a s e s of $115 m i l l i o n i n c u r r e n c y i n c i r c u l a t i o n and $55 m i l l i o n i n 11 o t h e r ' F- R- a c c o u n t s ( n e t ) . T o t a l Reserve Bank c r e d i t i n c r e a s e d $269 m i l l i o n . As of Wednesday, August 9, h o l d i n g s of U. S . Government s e c u r i t i e s bought o u t r i g h t were $73 m i l l i o n lower t h a n a week e a r l i e r , U. S. Government s e c u r i t i e s h e l d under r e p u r c h a s e agreement were $4 m i l l i o n h i g h e r , and member bank b o r r o w i n g s were $305 m i l l i o n h i g h e r . O u t r i g h t h o l d i n g s of b i l l s , c e r t i f i c a t e s , and n o t e s d e c r e a s e d $75 m i l l i o n , $12 m i l l i o n , and $1 m i l l i o n , r e s p e c t i v e l y ; and bonds i n c r e a s e d $15 m i l l i o n . Member "bank r e s e r v e s , Reserve Bank c r e d i t , and r e l a t e d i t e m s Reserve Bank c r e d i t : U• S. Government s e c u r i t i e s Bought o u t r i g h t - - S y s t e m account Held u n d e r r e p u r c h a s e agreement Acceptances-Bought o u t r i g h t Held under r e p u r c h a s e agreement D i s c o u n t s and a d v a n c e s — Member "bank b o r r o w i n g s Other Float T o t a l R e s e r v e Bank c r e d i t Gold s t o c k Treasury currency outstanding Currency i n c i r c u l a t i o n Treasury cash holdings T r e a s u r y d e p o s i t s w i t h F . R. Banks F o r e i g n d e p o s i t s w i t h F . R. Banks Other d e p o s i t s w i t h F . R. Banks Other F . R. a c c o u n t s ( n e t ) Member bank r e s e r v e s : With F e d e r a l R e s e r v e Banks Gash a l l o w e d a s r e s e r v e s ( e s t i m a t e d ) Total reserves held Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) Averages of d a i l y f i g u r e s ended Week ended Change from week < Aug . 10, Aug. 2, Aug. 9, I960 1961 1961 ( i n m i l l i o n s of d o l l a r s ) 27,484 130 34 +255 + 4o + + + l — — 123 - 678 163 3 1 - + 48 - Wednesday, Aug. 9, 1961 27,352 148 32 - 170 - 473 ** — w — «"* —- 1,006 28,777 17,548 5, 543 51,869 - 75 +269 + 21 + 16 +307 184 531 - 1,550 + 184 835 887 28,892 17,602 5, 544 52,038 32,564 423 467 234 304 1,024 35,016 +115 - 22 + 11 - 4 - 2 + 55 +153 435 19 15 42 59 140 592 32, 624 432 449 255 270 1, 020 35,050 16,852 2,395 19,247 18,673 574 +153 -192 - 39 -137 + 98 -1,427 16,987 2,676 19,663 18,622 1,04.1 WW ** + + 4- + + 4- + + 4-2, 149 + + + 722 655 67 On August 9, 1961, U. S• Government s e c u r i t i e s h e l d i n c u s t o d y by t h e F e d e r a l Reserve Banks f o r f o r e i g n a c c o u n t were $6,176 m i l l i o n , an i n c r e a s e of $456 m i l l i o n f o r t h e week and an i n c r e a s e of $809 m i l l i o n from t h e compare,ble d a t e a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS ( i n m i l l i o n s of d o l l a r s ) Aug. 9, 1961 A S S E T S Gold c e r t i f i c a t e a c c o u n t Redemption f u n d f o r F . R. n o t e s Total gold c e r t i f i c a t e reserves Cash D i s c o u n t s and a d v a n c e s A c c e p t a n c e s — 0 cra^Irfc o u t r i g h t U. S . Government s e c u r i t i e s : Bought o u t r i g h t - Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held u n d e r r e p u r c h a s e agreement T o t a l U. S . Government s e c u r i t i e s 16,292 1,043 17,335 (385) 388 473 32 2,294 l , 710 19,839 3,509 27,352 148 27,500 T o t a l l o a n s and s e c u r i t i e s 28,005 Cash i t e m s i n p r o c e s s of c o l l e c t i o n Bank p r e m i s e s Other a s s e t s TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank r e s e r v e s U. S . T r e a s u r e r - - g e n e r a l a c c o u n t Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items O t h e r l i a b i l i t i e s and a c c r u e d d i v i d e n d s TOTAL LIABILITIES Change s i n c e Aug. 2, Aug. 10, 19ol i960 + — 67 4- - + - 67 7 305 l 75 12 1 15 73 4 69 - + - + - - l , 513 + 63 -1,450 + + 13 259 2 - 513 -6,797 +6,829 +1,025 + 544 + 12 + 556 + 235 + 817 - + + - 235 5 83 489 (875) 4 , 1 7 1 110 285 (1,260)50,294 + 254 1 22 62 (385)27,634 + 124 + 342 16,987 449 255 270 17,961 (875) 3 , 2 8 4 55 (1,260)48,934 + 184 97 44 63 68 146 3 49 + + - 961 18 78 103 968 76 13 537 C A P I T A L ACCOUNTS Capital-paid in" 429 Surplus 817 Other c a p i t a l accounts 114 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( l , 26o)$Q, 294 - + - + - + - + + + + -- 13 62 + + - + 27 + 4 2 21 - 489 R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined (comp u t e d from f i g u r e s a s shown on t h e f o l lowing p a g e s - - n o t c o n s o l i d a t e d ) 37*7^ -- 2.6$ C o n t i n g e n t l i a b i l i t y on a c c e p t a n c e s p u r c h a s e d f o r foreign correspondents l43 -4l * F i g u r e s i n p a r e n t h e s e s a r e t h e e l i m i n a t i o n s made i n t h e c o n s o l i d a t i n g p r o c e s s ; s e e comparable f i g u r e s on combined b a s i s on f o l l o w i n g p a g e s . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 9, 1961 ( A cc e p t a n c e s and s e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d a s m a t u r i n g w i t h i n 15 days i n a c c o r d a n c e w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) W i t h i n 15 days 16 days t o 90 days 91 days t o 1 y e a r Over 1 year t o 5 years O v e r 5 y e a r s t o 10 y e a r s O v e r 10 y e a r s TotalseiU c o ,oo D i s c o u n t s and advances 4'fl 2 -*£ Acceptances 11 21 — — — - -%73 32 U. So Government s e c u r i t i e s Changes d u r i n g week Holdings - 40 591 + 58 1,042 7,891 -133 + 40 15,527 + 3 2, 232 + 3 217 27,500 - 69 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 1961 Total Boston New York Philadelphia Richmond A t l a n t a Chicago St. Louis Minneapolis Kansas City Dallas ( I n m i l l i o n s of d o l l a r s ) A S S E T S Gold c e r t i f i c a t e a c c o u n t Redemption f u n d f o r F . R. n o t e s Total gold c e r t i f i c a t e reserves Cleveland 16,292 1,043 17,335 782 63 845 3,974 237 4,211 F . R. n o t e s of o t h e r Banks Other c a s h 385 388 35 24 111 76 D i s c o u n t s and a d v a n c e s Acceptances: Bought o u t r i g h t U. S . Government s e c u r i t i e s : Bought o u t r i g h t - Bills Certificates Notes Bonds Total Held u n d e r r e p u r c h a s e agreement 473 24 176 32 32 2,294 122 1,710 91 19,839 1,056 187 -2*502. 1 , 4 56 27,352 148 San Francisco 924 1,400 . 65. . 90 1,490 989 1,049 81 1,130 811 65 876 2,777 188 2,965 668 46 714 311 26 337 751 47 798 646 34 680 2,199 101 2,300 35 20 11 37 20 17 52 33 22 68 8 19 21 10 16 11 16 20 38 53 7 4l 25 24 126 6 5 9 5 25 — - - " - - - - - - - - - - 568 423 4,906 868 6,765 148 132 99 1,146 203 1,580 194 145 1,682 298 2,319 145 108 1,256 222 1,731 126 94 1,091 .. 193 1,-504 392 292 3,390 599 4,673 93 69 798 l4l 1,101 54 4o 464 82 64o 100 74 865 15^ 1,192 93 70 806 142 1,111 275 205 2,379 421 3,280 T o t a l U. S. Government s e c u r i t i e s 27,500 1,456 6,91.3 1,580 2,319 1,731 1,504 4,673 1,101 64o 1,192 1,111 3 280 T o t a l l o a n s and s e c u r i t i e s 28,005 l,48o 7,121 1,587 2,360 1,756 1,528 4,799 1,107 645 1,201 1,116 3,305 5,046 110 285 350 4 15 956 9 71 340 4 16 389 8 24 375 6 18 4oi 13 16 770 24 48 224 7 11 158 5 7 26l 6 13 220 13 12 602 11 34 51,554 2,753 12,555 2,991 4,319 3,322 2,919 8,696 2,090 1,183 2,306 2,077 6,343 Cash i t e m s i n p r o c e s s of collection Bank p r e m i s e s Other a s s e t s TOTAL ASSETS H,4.1(c) STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 9, 1 9 6 l Total L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U.S. T r e a s u r e r - g e n e r a l account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and a c c r u e d dividends TOTAL LIABILITIES -CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS C o n t i n g e n t l i a b i l i t y on a c c e p t ances purchased f o r f o r e i g n correspondents Boston New York Philadelphia Cleveland Richmond A t l a n t a Chicago St. Louis Minneapolis Kansas City Dallas ( i n m i l l i o n s of d o l l a r s ) San Francisco 28, 019 1,635 6, 410 1,823 2, 518 2,194 1,610 5,199 1,199 584 1,170 847 2,830 16,987 449 255 270 17,961 694 19 12 3 728 4,698 1/75 215 5,059 757 26 14 1 798 1, 287 25 23 1 1,336 708 43 11 4 766 843 30 13 1 887 2,538 55 35 2 2,630 626 28 9 1 664 4o6 23 6 1 436 801 57 11 1 870 926 17 15 1 959 2,703 55 31 39 2,828 4,159 321 69 8 289 336 295 345 662 180 131 207 193 502 55 50,194 3 2, 687 16 12,183 3 2,913 4 4,194 3 3,258 3 2,845 10 8,501 2 2, 045 l 1,152 2 2,249 2 2, 001 6 6,166 429 817 ll4 21 4o 5 117 229 26 25 48 5 40 75 10 20 37 7 23 44 7 60 116 19 i4 27 4 10 19 2 18 35 4 25 47 4 56 100 21 51,554 2,753 12, 555 2,991 4,319 3,322 2,919 8,696 2,090 1,183 2, 306 2,077 6,343 143 7 2/4o 8 13 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s o u t s t a n d i n g C o l l a t e r a l f o r F . R. n o t e s : Gold c e r t i f i c a t e a c c o u n t E l i g i b l e paper U. S . Government s e c u r i t i e s Total collateral 29,131 1,690 6,700 1,884 2,654 2, 276 1,679 5,303 1,246 662 1, 200 891 2,946 9, 075 22 21,335 30,432 495 2, 000 650 7 l , 325 1,982 870 735 475 1,700 1,000 — — 325 9 900 275 —— 380 6 935 1,321 170 — — 650 2,100 1,234 925 3,ioo —— 1,275 1,770 — — 5,ioo 7,ioo — — 1,880 l,56o 1,300 3,800 2, 750 2,295 1,775 5,500 1 / A f t e r d e d u c t i n g $180 m i l l i o n p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. 2 / A f t e r d e d u c t i n g $103 m i l l i o n p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. — — 510 680
@FedFRASER