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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 E.4.1 For immediate r e l e a s e J u l y 20; 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 d u r i n g t h e week ended J u l y 19 d e c r e a s e d a n e t of $69 m i l l i o n t o $19;034 m i l l i o n ; cash allowed a s r e s e r v e s i n c r e a s e d $10 m i l l i o n and member "bank r e s e r v e "balances a t t h e F e d e r a l Reserve Banks d e c r e a s e d $79 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 $55 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 d e c r e a s e d $ l 4 m i l l i o n t o $643 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 $588 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 $6i0 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 r e d u c i n g average 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 a d e c r e a s e of $529 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 an i n c r e a s e of $215 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 e d e r a l Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were an i n c r e a s e of $457 m i l l i o n i n F e d e r a l Reserve f l o a t , and d e c r e a s e s of $163 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 $50 m i l l i o n i n " o t h e r " F. R. accounts ( n e t ) . T o t a l Reserve Bank c r e d i t d e c r e a s e d $66 m i l l i o n . As of Wednesday, J u l y 19., 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 $576 m i l l i o n lower t h a n a week e a r l i e r , and member bank borrowings were $118 m i l l i o n h i g h e r . 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 Held under r e p u r c h a s e agreement 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 s t o c k Treasury currency outstanding Currency i n c i r c u l a t i o n T r e a s u r y cash h o l d i n g s T r e a s u r y d e p o s i t s w i t h F . R. Banks Foreign d e p o s i t with 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 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 J u l y 19, J u l y 12, J u l y 20, 1961 1961 I960 ( i n m i l l i o n s of d o l l a r s ) 26,737 -529 —— —— 34 - — 1 mm «•» + 8 55 1 1,748 28,575 17, 547 5,437 51, 560 +457 - 6*6 - 3 + 4 - 64 32,634 392 605 218 274 946 35,069 -163 + 7 +215 - 13 + 19 - 50 + 15 16,491 2, 543 19,034 18,391 643 + - — — 79 10 69 55 i4 Wednesday. J u l y 19,' 1961 321 140 26,567 6 2 33 374 1 + 325 -f 138 -1,704 80 -1,485 162 10 1,591 28, 363 17,526 5,438 51,327 4- 435 17 + 57 Hb 9 100 4* 62 4- 446 32,560 401 646 237 265 943 35,052 -1,931 16,275 2,750 19,025 18,484 541 + - + - - - +2 i, 203 + + + 272 146 126 mm On J u l y 19, 1961, U. S. Government s e c u r i t i e s h e l d i n 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; 658 m i l l i o n , a d e c r e a s e of $17 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 $495 m i l l i o n from t h e comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) 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 July 19, 1961 * (391) 16,175 1,048 17,223 375 172 33 2,123 6,511 14,646 3,287 26,567 Change since July 20, July 12, 1961 - 26 - 26 + + - Cash items in process of collection Bank premises Other assets TOTAL ASSETS LIABILITIES Federal""Reserve-note s Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits (1,162) Deferred availability cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES (1,162) + 1 - 809 + 6 576 - —- 576 270 -1,996 +1,636 + 803 + 173 26,567 576 - + 120 - 26,772 - 448 - 750 - - Total loans and securities 26 128 —— - -1,801 + 92 -1,709 5,215 111 30? (1,553) 50,001 (391) 27,595 16,275 646 237 265 17,423 3,624 4l (1,553) 48,683 - - + 254 + - - 17 177 122 212 + 153 + 21 4 42 ~ - - 28 1 193 53 + 598 + 5 ~ 2 + 361 -1,857 -2,430 + 25 + 3% - 99 -2,470 + 190 1 -1,920 CAPITAL ACCOUNTS Capital paid in + 427 + 26 1 Surplus + 42 817 Other capital accounts + 74 15 5 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 553) 50,001 -1,857 177 Ratio of gold certificate reserves to deposit and F. R. note l i a b i l i t i e s combined (computed from figures as shown on the f o l lowing pages—not consolidated) 37.9# - 1-9# Contingent l i a b i l i t y on acceptances purchased for foreign correspondents 149 32 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined "basis on following pages. mm * mm mm MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 19, 1961 (Acceptances and securities 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.) U. S. Government securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 170 +4/691 5, 123 16 days to 90 days 2 1,102 25 -5,182 91 days to 1 year * 7,736 85 Over 1 year to 5 years 10,281 Over 5 years to 10 years 2,148 Over 10 years -177 Total 172 257W - 576 33 * Less than $500,000. E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 19, 1961 Total Boston New York Philadelphia A S S E T S 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 Cleve- Rich- A t l a n t a Chicago land mond (In m i l l i o n s of d o l l a r s ) Minneapolis St. Louis Kansas City Dallas San Francisco 16,175 l , 048 17,223 871 63 934 3,927 241 4,168 929 64 993 1, 370 90 l7450 988 84 1,072 862 6l 923 2,769 189 2,958 645 46 691 325 27 352 762 47 809 670 34 704 2, 057 102 2,159 F. R. n o t e s of o t h e r Banks Other cash 391 375 27 22 115 74 25 19 15 36 22 17 55 30 23 63 10 17 17 9 17 11 17 21 48 56 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 o u t r i g h t - Bills Certificates Notes Bonds Total Held under r e p u r c h a s e agreement 172 * 100 1 11 17 5 20 2 1 8 6 1 33 2,123 6,511 l4,646 3,287 257W — 113 347 780 175 1,415 33 525 l , 610 3,622 813 57570 - - 123 37 6 846 190 1,535 180 552 1,242 279 2,253 - - 134 412 927 208 1, 681 - ~ - - 117 358 805 180 1, 460 —— - - 363 1,113 2, 502 562 4, 540 85 262 590 132 1,069 50 152 342 77 621 — - - - - 92 284 639 143 1,155" - - 86 264 595 134 1,079 - - - - 255 781 1,756 394 3,106 - - T o t a l U. S . Government s e c u r i t i e s 26,567 1,4.15 6,570 1,535 2,253 1, 681. l,46o 4,540 1,069 621 1,158 1,079 3,186 T o t a l l o a n s and s e c u r i t i e s 26,772 l , 415 6,703 1,536 2, 264 1,698 1,465 4,560 1,071 622 1,166 1,085 3,187 6,377 ill 305 476 4 16 1,304 9 74 399 4 17 495 8 26 433 6 20 455 13 18 1, Oil 24 53 272 7 12 187 5 7 327 6 13 250 14 13 768 11 36 51,554 2, 894 12, 447 2,993 4,304 3,268 2,959 8,692 2,080 1,199 2,349 2,104 6,265 Cash items 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 * Less t h a n $500, 000. H A.1(c) 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 D e f e r r e d 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 STATEMENT 0? CONDITION OP EACH FEDERAL RESERVE BANK OH JULY 19, 196l St. Louis Minneapolis Kansas City Dallas San Francisco 5,194 1,200 590 1,162 839 2,8l4 84l 4l 12 2 896 2,379 86 33 586 31 8 2,498 625 388 32 5 1 426 810 54 10 2 876 909 57 13 1 980 2,567 73 28 38 2,706 316 384 806 210 152 253 209 567 4 4,183 1 3,207 2 2,888 6 8,504 .1 2,036 1 1,169 2. 2,293 2,030 6 6,093 24 48 4 4o 75 23 44 4 60 116 14 27 10 19 18 i 20 37 4 5 24 47 3 12,447 2,993, 4.^204 3,268 2,959 8,692 1,199 2,349 2,104 6,265 2/42 9 14 7 8 2.1 5 3 6 9 18 Cleve- Rich- A t l a n t a Chicago land mond ( I n m i l l i o n s of d o l l a r s ) Total Boston New York Philadelphia 27,986 1,647 6,4l4 1,838 2,517 2,165 1,606 16,275 646 237 26s 17,423 701 39 11 751 4,520 122 1/72 917 4,931 721 30 13 1 765 1,191 31 21 1 1,244 662 50 11 2 725 4,786 429 731 311 418 41 50,236 3 2,830 10 12,086 2,917 427 817 21 4o 117 51,554 2,894 149 7 * -X- * CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Contingent 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 jk 2 2 9 i s i ? A 2 , 0 8 0 1 3 56 100 I5_ 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 account E l i g i b l e paper U. S. Government s e c u r i t i e s 29,206 1,698 6,761 1,901 2,645 2,250 1,675 5,306 l,24l 669 1,201 888 2,971 9,055 11 21,335 495 2,000 650 1 1,325 870 715 475 1,700 380 2 <3^ 170 325 8 900 275 1,000 680 1,233 1,317 * Less t h a n $500,000. 925 — - — — — — —— - - — 1,560 1.300 3.800 30,401 1,770 7,100 1,976 2,750 2,275 l / A f t e r deducting $ 165 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 deducting $ 1 0 7 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. 1,775 5,500 Total c o l l a t e r a l 1,275 5,100 1,880 —— — 510 —— — 650 - - — 100 3,100
@FedFRASER