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FEDERAL H.4.1 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 December 7, 1961 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 during t h e week ended December 6 decreased $255 m i l l i o n t o $19,684 m i l l i o n . Estimated currency and coin of member banks decreased $205 m i l l i o n and t h e i r 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 decreased $50 m i l l i o n . Estimated r e q u i r e d r e s e r v e s decreased $34 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 decreased $221 m i l l i o n t o $498 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 F e d e r a l Reserve Banks by $465 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 $6l8 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 reducing average r e s e r v e b a l a n c e s with F e d e r a l Reserve Banks were d e c r e a s e s of $ l l 4 m i l l i o n i n U. S. Government s e c u r i t i e s h e l d under repurchase agreement, $68 m i l l i o n i n member bank borrowings, and $211 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 $74 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 , if m i ^ l i o n i n T r e a s u r y d e p o s i t s with F e d e r a l Reserve Banks, and $45 m i l l i o n in "other" d e p o s i t s with F e d e r a l Reserve Banks. These were l a r g e l y o f f s e t by an i n c r e a s e of $514 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 . T o t a l Reserve Bank c r e d i t i n c r e a s e d $121 m i l l i o n . As of Wednesday, December 6, 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 $628 m i l l i o n h i g h e r than a week e a r l i e r and member bank borrowings were $l4 m i l l i o n l o w e r . O u t r i g h t 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 $4^6 m i l l i o n , $53 m i l l i o n , and $139 m i l l i o n , r e s p e c t i v e l y . 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 - - S y s t e m 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 tither Float T o t a l Reserve Bank c r e d i t Gold stock Treasury currency 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 holdings 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 Federal Reserve Banks Currency and coin (estimated) Total r ese rv e s held Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. Averages of d a i l y f i g u r e s Week ended Change from week ended Dec. 6, Nov. 29, Dec. 7, 1961 1961 I960 ( I n m i l l i o n s of d o l l a r s ) 29;274 41 3**» ' 1 1, 2M.W, 30,631 16,975 5, 5 9 6 . 53,19^4 « 33,57^ ' 4i#b. 501 216 258 1,143 36,11.%% . 17,082 2,602 19,684 19,186 498 Wednesday Dec. 6, 1961 +514 -114 + 1 +1, 853 * - 68 27 35 224 +2, 037 - 999 + 199 +1,235 1,112 30, 592 16,976 5,587 53,155 + + - 42 6 1 -211 +121 +123 + 74 + 4 + 45 29, 403 856 6 45 216 +173 77 712 33,787 425 380 238 270 l , 149 36,249 524 244 768 970 202 16,906 2,793 19,699 .19,145 554 + + 6 - 50 -205 -255 - 34 -221 28 37 + + - On December 6, 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 $5,794 m i l l i o n , a d e c r e a s e of $50 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 $251 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 TI.ELVE FEDERAL RESERVE BANKS ( i n m i l l i o n s of d o l l a r s ) Dec. 6 , 1961 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves Cash Discounts and advances Acceptances--bought outright 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 bought outright Held under repurchase agreement Total. U. S. Government s e c u r i t i e s (333) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank r ese r v e s U. S. Treasurer—general account Foreign Other Total d e p o s i t s 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 C A P I T A L + 8 16,707 - 3 333 35 42 - + 16 3,935 + 19,945 3,831 29,403 - -1,294 + 120 -1,175 14 5 46 1 6 436 + 826 -7,467 +7,413 — «•> 4" 5 3 4" 1 3 9 + 628 •» m. +1,236 +2,008 mm mm 29,403 + 628 +2,008 29,480 4* 6 1 3 +1,956 (943) 4,613 110 197 (1,276) 51,440 (333) 28,689 16,906 380 238 270 17,794 (943) 11 15,573 1,134 1,692 Total loans and s e c u r i t i e s Cash items in process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS Change since Nov. 2 9 , Dec. 7. 1961 i960 3,501 81 (1,276) 50,065 184 — » + + 18 430 + 518 + 3 + 18 +1,316 4- 269 + 715 + + 654 - 3 18 421 - 4+ + 249 124 17 66 208 + 212 69 + 280 46 4- 4 I 4 + 36 +1,243 A C C O U N T S Capital paid in 435 Surplus 817 Other c a p i t a l accounts 123 TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( l , 276) $ 1 , 4 4 0 4- 2 —— 414 4- 4 3 0 + + + 28 42 3 +1,316 Ratio of gold c e r t i f i c a t e reserves t o deposit 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 shown on the f o l lowing pages—not consolidated) 35.7% •3FO - 3-31 Contingent l i a b i l i t y on acceptances purchased for foreign correspondents 44 115 124 * Figures in parentheses are the eliminations made in the c o n s o l i d a t i n g process; see comparable f i g u r e s on combined b a s i s on following pages. MATURITY DISTRIBUTION OF LOAMS AND SECURITIES, DECEMBER 6, 1961 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances Within 15 days 31 16 days t o 90 days 4 91 days t o 1 year -Over 1 year t o 5 years -Over 5 years t o 10 years -Over 10 years — Total 35 Acceptances 7 35 ---— 52 U. S. Government s e c u r i t i e s Changes Holdings during week 378 + 95 6,821 +159 10,624 +231 9,091 +115 2,223 + 10 266 + 18 29,403 +E2E H. 4 . 1 ( b ) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 6, 1961 Total Boston New York Philadelphia F. R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright 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 under repurchase agreement Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas Tin m i l l i o n s of dol].ars) ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e r e s e r v e s Cleveland San Francisco 15,573 1,134 16,707 820 65 885 3,851 280 4,131 875 72 947 1,312 96 l,4o8 1,108 87 1,195 796 71 867 2,584 203 2,787 648 46 694 34o 26 366 624 46 670 647 2,002 108 2,110 333 333 18 19 100 65 18 17 12 24 17 20 50 30 21 59 8 19 13 9 14 10 24 14 38 47 35 1 6 2 1 1 5 4 4 8 3 * 42 42 - " - - - - — - - - - " 3,935 1,692 19,945 -MSI. 297503 209 90 1,062 204 1,565 227 98 1,152 221 1,698 334 143 1,691 325 2,493 249 107 1,262 243 l,86l 217 93 1,097 210 1,517 672 289 3,4o8 655 5,024 159 68 805 155 1,187 84 36 428 82 636 172 74 869 167 1,282 160 69 810 155 1,194 479 206 2,429 466 3,580 Total U. S. Government s e c u r i t i e s 29,403. 1,565 —TjJzl? .-.1,698 2,493 l,86l ..1,617 5,024 1,187 630 1,282 1,194 3,580 Total loans and s e c u r i t i e s 29,430 1,566 7,320 1,700 2,494 1,862 1,622 5,028 1,191 630 1,290 1,197 3,580 5,556 110 197 391 4 10 1,092 9 50 341 4 11 424 8 17 395 6 12 423 13 12 897 24 33 256 178 290 6 8 24l 628 11 24 52,716 2,893 12,767 3,038 4,387 3,507 3,017 8,849 2,183 1,205 2,288 2,144 6,438 Cash items in proccss of collection Bank premises Other a s s e t s TOTAL ASSETS 973 419 4,932 948 7,272 8 I *Less than $$00,000. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 6, 1961 Total Boston New York Philadelphia Cleveland Richmond A t l a n t a Chicago St. Louis Minneapolis Kansas City Dallas CISCO ( I n m i l l i o n s of d o l l a r s ) L I A B I L I T I E S San Fran - Federal 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 Tctal deposits 29,022 1, 701 6,632 1,877 2, 611 2, 348 1, 690 5,329 1,256 579 1,189 863 2,947 16,906 380 238 270 17,794 724 40 12 762 22 13 2 799 1, 2 4 l 19 22 1 1, 283 734 44 11 2 791 855 33 12 1 901 2,498 50 33 648 20 8 * 424 18 5 * * 776 4,610 34 1/71 228 4,943 2, 581 676 447 786 25 10 1 822 961 2? 13 1 1, 002 2,663 48 28 34 2,773 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 TCTAL LIABILITIES 4,444 345 797 279 359 299 346 729 201 146 214 199 530 81 51,341 4 2,826 21 12,393 4 2,959 7 4,260 5 3 , W 13 5 2,942 ~~8",652 3 2,135" 2 1,174 4 2, 229 3 2, 067 10 6, 260 435 817 123 21 40 6 118 229 27 25 48 6 40 75 12 20 37 7 24 44 7 6l 116 20 15 27 5 10 19 2 19 35 5 25 47 5 57 100 21 52,716 2,893 12;767 3,038 4,387 3, 507 3,017 8,849 2,183 1,205 2, 288 2,144 6, 438 115 5 2/32 7 11 5 6 16 4 3 5 7 14 1,298 655 1, 222 915 3,056 160 275 1, 000 510 325 8 900 2, 200 670 1, 233 675 950 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 c o r r e spondent s •X FEDERAL RESERVE AGENTS' ACCOUNTS 30,197 1, 745 7,006 1,9?6" 2,756 27411 8, 325 14 22,700 495 1, 500 570 2 1, 500 870 755 475 1, 500 5,600 l , 68 0 1, 325 1,950 7,100 2, 072 2, 820 31,039 1, 820 2, 435 l / A f t e r d e d u c t i n g $167 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 $ 83 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. l , 300 H iO :O 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 c o l l a t e r a l 4oo 4 960 1,775 5,600 l , 364 1 , 7 4 8 "3 7 5 3 9 - * 3, 200 Less t h a n $900,000.
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