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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
For immediate r e l e a s e
August 3, 1961
H.4.1
The average 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 2 i n c r e a s e d $229 m i l l i o n t o $19,235 m i l l i o n . Estimated r e q u i r e d r e s e r v e s i n c r e a s e d $383 m i l l i o n ; and e s t i m a t e d excess r e s e r v e s d e c r e a s e d $154 m i l l i o n
t o $495 m i l l i o n . Excess r e s e r v e s exceeded member bank borrowings a t t h e Federal
Reserve Banks by $420 m i l l i o n , compared with t h e r e v i s e d f i g u r e of $599 m i l l i o n f o r
the week b e f o r e .
Average r e s e r v e b a l a n c e s with Federal Reserve Banks i n c r e a s e d $287 m i l l i o n ,
l a r g e l y r e f l e c t i n g an i n c r e a s e of $588 m i l l i o n i n h o l d i n g s of U. S. Government
s e c u r i t i e s , p a r t l y o f f s e t by a d e c r e a s e of $395 m i l l i o n in F e d e r a l Reserve f l o a t .
As of Wednesday, August 2, 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 $501 m i l l i o n h i g h e r than a week e a r l i e r , U. S. Government s e c u r i t i e s held
under repurchase agreement were $144 m i l l i o n h i g h e r , and member bank borrowings were
$109 m i l l i o n h i g h e r . Outright h o l d i n g s of b i l l s , n o t e s , and bonds i n c r e a s e d $203
m i l l i o n , $5,004 m i l l i o n , and $83 m i l l i o n , r e s p e c t i v e l y ; and c e r t i f i c a t e s decreased
$4,789 m i l l i o n . These changes included an exchange of $4,800 m i l l i o n of c e r t i f i c a t e s , $21 m i l l i o n of n o t e s , and $l4 m i l l i o n of bonds f o r new i s s u e s of n o t e s ,
$3,235 m i l l i o n due November 15, 1962 and $1,600 m i l l i o n due August 15, 1964.
T r a n s a c t i o n s i n c i d e n t t o t h e Old S e r i e s Currency Adjustment Act include an i n crease of $36 m i l l i o n i n T r e a s u r y d e p o s i t s with F. R. Banks f o r old s e r i e s ( l a r g e
s i z e ) F e d e r a l Reserve n o t e s and an i n c r e a s e in Treasury cash h o l d i n g s of $6l million,
r e p r e s e n t i n g i n c r e a s e s in t h e gold and s i l v e r b a l a n c e s i n t h e g e n e r a l f u n d .
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 items
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 --System account
Held under r e p u r c h a s e agreement
Acceptances--bought o u t r i g h t
Discounts and a d v a n c e s - Member bank borrowings
Other
Float
T o t a l Reserve Bank c r e d i t
Gold stock
Treasury c u r r e n c y o u t s t a n d i n g
Currency in c i r c u l a t i o n
Treasury cash h o l d i n g s
Treasury d e p o s i t s with F. R. Banks
Foreign d e p o s i t s with F. R. Banks
Other d e p o s i t s with F . R. Banks
Other F. R. accounts ( n e t )
Member bank r e s e r v e s :
With F e d e r a l Reserve Banks
Cash allowed as 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
Week ended Change from week ended
Aug. 2,
J u l y 26,
Aug. 3,
1961
1961
I960
( I n m i l l i o n s of d o l l a r s )
Wednesday,
Aug. 2,
1961
27,229
90
33
+509
+ 79
75
+ 25
1,081
28,508
-395
+219
+ 2
+
+ 87
+
+308
-1,094
17,527
5,5^2
51,834
- 27
+
+
403
37
10
17
52
32,490
426
546
211
333
17,527
5,527
51,562
32,4Wb
kkgr
456
238
306
969
34,863
16,699
2,536
19,235
1 8 , ?4o
495
'
*
+
+
46
42
13
32
+ 25
+ 21
+287
- 58
+229
+383
-154
469
80
4
27,425
144
33
240
168
4- 204
357
-1; 6 2 0
28,765
+
-
+
+
-
4+
169
85
479
995
1,025
35,031
-1,573
+2, 2 1 6
+ 643
16,803
4*
636
+
18,795
7
2,623
19,426
631
On August 2, 1961, U. S. Government s e c u r i t i e s h e l d in custody by t h e
F e d e r a l Reserve Banks f o r f o r e i g n account were $5,720 m i l l i o n , an i n c r e a s e of
$25 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 $407 m i l l i o n from t h e comparable d a t e
a year ago.
H.4.1(a)
CONSOLIDATED STATEMENT OF CONDITION
OF THE TWELVE FEDERAL RESERVE BANKS
( i n m i l l i o n s of d o l l a r s )
Aug. 2,
1961
ASSETS
Gold c e r t i f i c a t e account
Redemption fund f o r F. R. n o t e s
T o t a l gold c e r t i f i c a t e r e s e r v e s
Cash
Discounts and advances
Acceptances--bought out r i g h t
U. S. Government s e c u r i t i e s :
Bought o u t r i g h t - Bills
Certificates
Notes
Bonds
T o t a l bought o u t r i g h t
Held under r e p u r c h a s e agreement
T o t a l U. S. Government s e c u r i t i e s
16,225
1,043
17,268
(415)
L I A B I L I T I E S
F e d e r a l Reserve n o t e s
Deposits:
Member bank r e s e r v e s
U. S. T r e a s u r e r - - g e n e r a l account
Foreign
Other
Total deposits
+
2,369
1,722
19,84o
3,494
27,425
144
27,569
50
5
45
-
4-
42
4- 109
33
T o t a l l o a n s and s e c u r i t i e s
Cash items i n p r o c e s s of c o l l e c t i o n
Bank premises
Other a s s e t s
TOTAL ASSETS
395
168
Change s i n c e
Jul^ /- 2 6 ,
Aug. 3,
i960
1961
- -
4- 203
-4,789
+ 5 , oo4
83
4-
+
501
4* ikk
645
4-
27,770
4-
4,425
+
-l,656
+
88
-1,568
+
12
119
4
- 4oo
-6,785
+6,830
+1,010
+ 655
- 160
+ 495
754
+
380
89
445
6
85
834"
293
263
(1,387) 50,232
4-
61
829
+
+
-
(415) 27,510
4*
44
+
16,803
546
211
333
17,893
4-
517
9
47
71
550
-1,505
+ 168
19
25
-1,381
218
4
816
+
+
-
193
6
889
1
+
+
-
28
42
15
834
(972)
ill
Deferred a v a i l a b i l i t y cash items
(972)
3,430
Other l i a b i l i t i e s and accrued d i v i d e n d s
52
TOTAL LIABILITIES
(1,387) 48,885
CAPITAL
ACCOUNTS
Capital paid in
429
Surplus
817
Other c a p i t a l a c c o u n t s
101
TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,387) 5 0 , 2 3 2
- -
+
-
4-
+
+
4-
+
4-
- -
44-
12
829
R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t
and F. R. note l i a b i l i t i e s combined (computed from f i g u r e s as shorn on t h e f o l - 2.5%
.4fo
37-7$
lowing p a g e s - - n o t c o n s o l i d a t e d )
Contingent l i a b i l i t y on acceptances purchased
4o
4
for foreign correspondents
143
* 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 ;
see 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 2, 1961
(Acceptances and s e c u r i t i e s h e l d under repurchase agreement a r e c l a s s i f i e d as
maturing w i t h i n 15 days in accordance with maximum m a t u r i t y of t h e agreements.)
Within 15 days
16 days t o 90 days
91 days t o 1 year
Over 1 year t o 5 y e a r s
Over 5 y e a r s t o 10 y e a r s
Over 10 y e a r s
Total
* Less t h a n $500,000.
Discounts and
advances
165
3
*
m
Acceptances
10
23
——
- —
«"* —
——
——
•*» mm
— —
33
U. S. Government s e c u r i t i e s
Changes
d u r i n g week
Holdings
-4,569
631
82
984
+ 287
8,024
+4,976
15,487
+
19
2,229
+
l4
214
+
645
27, 569
H.4.1(b)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 2, 1961
A S S E T S
Gold c e r t i f i c a t e account
Redemption f u n d f o r F. R. n o t e s
T o t a l gold c e r t i f i c a t e r e s e r v e :
Total
Boston
New
York
16,225
783
63
d4b
3,850
240
35
24
118
76
1 043
17,258"
F . R. n o t e s of o t h e r Banks
Other cash
415
395
Discounts and advances
Acceptances:
Bought o u t r i g h t
U. S. Government s e c u r i t i e s :
Bought outright—
Bills
Certificates
Note s
Bonds
Total
Held under r e p u r c h a s e agreement
168
Philadelphia
Cleveland
Rich- A t l a n t a Chicago
mond
( I n m i l l i o n s of d o l l a r s7
St.
Louis
Minneapolis
Kansas
City
Dallas
802
47
64 9
658
San
Francisco
815
60
2 98I
189
635
46
314
83
1,093
675
3,170
681
341
38
20
17
58
33
24
11
19
23
11
16
11
17
69
21
43
57
3
7
6
11
7
6
3
6
3
14
137
150
130
109
95
1.256 1,091
221
3.92
405
96
69
104
75
1.-, 584
96
70
806
142
284
202
201
146
1,682
296
^,3^5
l", 196
1,114
1,393
90
1,463
1,010
34
19
16
99
585
426
4,907
864
6,'{b'd
ikk
951
63
1,014
27
34
—692—'
2,033
101
2,134
33
2,369
1> 722
19,840
3,494
12 6
92
1,056
186
1/560
99
1,146
-1, fjO l,>UO
3,390
597
4,686
798
l4i
i,io4
55
4o
464
82
o4i
294
865
152
207
2,379
419
3,^9
T o t a l U. S. Government s e c u r i t i e s
27,569 i , 4 6 o
6,926
1,584
2,325
1,736 1,508
4,686
1,
io4
641
1,196
i,ll4
3,289
T o t a l l o a n s and s e c u r i t i e s
27,770 1,463
7,058
1,587
2,332
1,742 1,519
4,693
1,110
644
1,202
l,H7
3,303
994
9
64
329
4
15
435
878
237
7
156
120
5
5
6
263
378
4
14
11
226
l4
11
635
11
33
51,619
2/764
12,409
3,002
4,334
2,415
2,098
6,2l6
Cash items i n p r o c e s s of
collection
Bank premises
Other a s s e t s
TOTAL ASSETS
5,397
ill
8
394
6
415
13
22
17
15
24
45
3,289 2,928
8,903
11
2,076
1,185
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 2, 1961
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 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 accrued
dividends
TOTAL LIABILITIES
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other capital accounts
TOTAL LIABILITIES AND
CAPITAL ACCOUNTS
Contingent l i a b i l i t y on acceptances purchased for foreign
c orre spondent s
San
Francisco
Total
Boston
New
York
Philadelphia
27,925
1,634
6,409
1,826
2,507
2,182
1,602
5,177
1,194
584
1, l 6 l
839
2,810
16,803
546
211
333
17,093
662
30
10
702
4,462
65
1/60
282
4,069
794
17
12
1
024
1,277
27
19
2
1,325
683
34
10
3
730
856
25
11
1
093
2,705
64
30
1
2,000
615
28
7
1
651
413
16
5
1
435
834
135
9
1
979
939
39
12
1
991
2,563
66
26
39
2,694
4,402
359
747
272
374
312
357
725
184
134
216
191
531
52
50,272
3
2,690
16
12,04l
2
2,924
4
4,210
3
3,227
3
2,055
8
0,710
2
2, 031
1
l , 154
2
2,350
2
2,023
6
6, 04l
429
817
101
21
40
5
117
229
22
25
48
5
40
75
9
20
37
5
23
44
6
60
116
17
14
27
4
10
19
2
18
35
4
25
47
3
56
100
19
51,619
2,764
12,409
3,002
4,334
3,289
2,928
8,903
2,076
1,185
2,415
2,098
6,216
143
7
2/40
8
13
7
8
20
5
3
6
8
18
FEDERAL RESERVE AGENTS' ACCOUNTS
2,644
6,720
2,261
1,890
1,665
5,275
1,245
664
1,193
887
2,954
475
1,700
380
6
935
1,321
170
325
6
900
1,231
275
1,000
*
Cleve- Rich- Atlanta Chicago
St.
land
mond
Louis
(In m i l l i o n s of dollars)
F. R. notes outstanding
29,093 1,695
Collateral for F. R. notes:
Gold c e r t i f i c a t e account
2,000
650
870
9,075
495
735
E l i g i b l e paper
15
3
U. S. Government s e c u r i t i e s
1,880
5,100
21,335 1,275
1,560
1,325
Total c o l l a t e r a l
7,100
30,425 1,770
1,978
2,750
2,295
1 / After deducting $151 m i l l i o n participations of other Federal Reserve Banks.
2 / After deducting $103 m i l l i o n participations of other Federal Reserve Banks.
~ -
-
-
-
-
-
-
1,300
1,775
— —
3,800
5,500
Minneapolis
Kansas
City
* m.
510
680
*
Dallas
tm mm
650
925
2,100
3,100
^ e s s *han $500,000.
@FedFRASER