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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 J u l y 27, 1 9 6 1 E.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 held during the week ended J u l y 2 6 decreased $103 m i l l i o n t o $18,974 m i l l i o n , which included a decrease of $79 m i l l i o n in member bank reserve balances at t h e Federal Reserve Banks. Estimated required r e s e r v e s decreased $18 m i l l i o n ; and estimated excess reserves decreased $85 m i l l i o n t o $ 6 0 8 m i l l i o n . Excess r e s e r v e s exceeded member Dank borrowings at the Federal Reserve Banks by $558 m i l l i o n , compared with the revised f i g u r e of $ 6 3 8 m i l l i o n the week b e f o r e . The p r i n c i p a l changes reducing average reserve balances with Federal Reserve Banks were decreases of $272 m i l l i o n in Federal Reserve f l o a t and $22 m i l l i o n in gold -stock, and an increase of $33 m i l l i o n in f o r e i g n d e p o s i t s with Federal Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were decreases of $ 1 5 8 m i l l i o n in currency in c i r c u l a t i o n and $107 m i l l i o n in Treasury d e p o s i t s with Federal Reserve Banks. Total Reserve Bank c r e d i t decreased $286 m i l l i o n . As of Wednesday, J u l y 26, holdings of U. S. Government s e c u r i t i e s bought outright were $357 m i l l i o n higher than a week e a r l i e r and member bank borrowings were $103 m i l l i o n lower. Outright holdings of b i l l s , notes, and bonds increased $43 million, $190 m i l l i o n , and $124 million, 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 outright--System account Held under repurchase agreement Acceptances--bought o u t r i g h t Discounts and advances— Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Averages of d a i l y f i g u r e s Week ended Change from week ended Wednesday, J u l y 26, J u l y 26, J u l y 19, J u l y 27, 1961 I960 1961 1961 ( ]Cn m i l l i o n s of d o l l a r s ) 26,720 - 17 + 33 - 1 + 50 - 5 l - 11 — w 1,476 28,289 17,525 5, H o 51725% 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 Cash allowed as r e s e r v e s (estimated) Total r e s e r v e s held Required r e s e r v e s (estimated) Excess r e s e r v e s (estimated) 32,476 399 498 251 274 944 34,842 16,412 2,562 18,974 18,366 608 + 11 -272 -286 198 66 5 + 391 + 226 -l,666 + -158 + 435 - 2 -227 - 79 - 24 -103 - 18 - 85 83 -1,357 6 + 10 + 49 - 97 + + mm w 33 301 - 22 + 3 -306 + 7 -107 + 33 26,924 60 450 -1,807 +2, 229 + 422 + 289 + 133 59 1,124 28,140 17,527 5,443 51,110 32,4l4 4o6 537 258 262 947 34,824 16,286 2,813 19,099 18,415 On J u l y 26, 1961, U. S. Government s e c u r i t i e s held in custody "by t h e Federal Reserve Banks f o r f o r e i g n account were $5,695 m i l l i o n , an increase of $37 m i l l i o n f o r t h e week and an increase of $440 m i l l i o n from t h e comparable date a year ago. 684 H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS ( i n m i l l i o n s of d o l l a r s ) J u l y 26, 1961 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e r e s e r v e s Cash Discounts and advances Acceptances—bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total bought o u t r i g h t Held under repurchase agreement Total U. S. Government s e c u r i t i e s J u l y 19, 1961 16,175 l , o48 17,223 (435) - - 393 59 33 + 2,166 6,511 14,836 3,411 26,924 + " 43 + + + + - (1,438) 4,336 111 324 49,403 (435) 27,466 7 222 5 357 244 + 879 + + 190 124 357 - - 27,016 + - 495 -1,996 +1,826 + 927 + 262 22 + 240 - — - - (1,003) 18 113 - J u l y 27, I960 -1,726 + 90 -1,636 —— 26,924 Total loans and s e c u r i t i e s Cash items in process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS Change since 23 19 59S 385 6 4 -1,233 w 129 + 350 16,286 537 258 262 17,343 + 11 109 21 3 80 -1,754 + 37 + 54 - 100 -1,763 - (1,438) 3,212 48 48,069 412 7 6i4 + 115 + 5 -1,293 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( l , 438) 428 817 , ,89 49,403 + L I A B I L I T I E S Federal Reserve n o t e s Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l account Foreign Other Total d e p o s i t s Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES (1,003) - *» + - - + - - l - - + - 15 598 + + 27 42 9 -1,233 Ratio of gold c e r t i f i c a t e r e s e r v e s t o deposit and F. R. note l i a b i l i t i e s combined (computed from f i g u r e s as shown on t h e f o l + lowing pages—not consolidated) .2$ 38.1# - 2.3# Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents 2 147 31 Figures in parentheses a r e t h e e l i m i n a t i o n s made in t h e 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 LOANS AND SECURITIES, JULY 26, 196l (Acceptances and s e c u r i t i e s held under repurchase a g r e e m e n t are c l a s s i f i e d as maturing within 15 days in accordance with maximum m a t u r i t y of t h e agreements.) U. S. Government s e c u r i t i e s Discounts and Changes advances Acceptances during week Holdings g Within 15 days 5,200 + 77 57 16 days t o 90 days 1,066 2 25 - 36 * + 1 91 days t o 1 year 7,737 Over 1 year t o 5 years +230 10,511 Over 5 years t o 10 years + 62 2,210 Over 10 years 200 + 23 Total 26,924 +357 59 33 H.4.1(D) STATEMENT OF CONDITION OF EACH FEDERAL EESSRvE BANK ON JULY 26, 196l Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes 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 F. R. n o t e s of other Banks Other cash 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 repurchase agreement Boston New York Philadelphia Cleve- Rich- Atlanta Chicago land mond (In m i l l i o n s of d o l l a r s ) 16,175 1,048 17,223 780 63 843 4,122 241 4, 363 955 64 1,019 1,357 90 1,447 1,013 84 1,097 435 393 33 24 117 74 31 19 18 37 59 4 8 3 2 33 2,166 6,511 14,836 3,411 26,924 — —' 115 347 790 181 1,433 - - 33 536 1,610 3,669 843 6,658 — - - - 184 552 1,258 289 2,283 —— Minneapolis Kansas City Dallas San Francisco 844 2,892 189 3,081 625 46 25 17 58 32 28 67 13 18 20 11 17 12 20 22 5 3 22 1 4 4 1 2 87 262 597 51 152 347 94 284 647 149 l , 174 88 264 139 1,094 260 781 1,779 — *"» 125 376 857 197 1,555 St. Louis 137 412 939 216 1,704 —— 783 61 mm — 119 358 816 187 1,480 —— w w 370 1,113 2, 534 583 4,600 — 671 342 27 369 676 47 723 662 34 696 1,968 102 2,070 55 60 mm w 138 1,084 —— 80 630 603 409 3,229 — — T o t a l U. S. Government s e c u r i t i e s 26,924 1,433 6,658 1,555 2,283 1,704 1,480 4,600 1,084 630 1,174 1,094 3,229 T o t a l loans and s e c u r i t i e s 27,016 1,437 6,699 1,558 2,285 1,709 1,483 4,622 1,085 634 1,178 1,095 3,231 5,339 1,012 9 318 4 429 324 387 4 17 18 28 386 6 394 13 19 843 24 55 164 5 286 6 14 245 14 l4 646 11 39 50,841 2,745 12,354 2,967 4,252 2,843 8,720 2,106 6,112 Cash items in process of collection Bank premises Other a s s e t s TOTAL ASSETS 111 80 8 21 3,261 229 7 13 2,036 6 1,209 2,236 H .4. 1 ( c ) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 2 6 , 1 9 6 1 Boston New York Philadelphia 27,901 1,639 6,407 1,832 2,510 2,166 1,596 5,180 1,194 16,286 537 4,533 73 746 33 15 1 795 1,192 34 23 2 1,251 661 54 12 3 730 788 575 28 9 836 2,536 68 35 1 2,640 Total 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 258 650 33 12 i/rs Cleve- Rich- Atlanta Chicago S t . Minneland mond Louis a p o l i s (In millions of d o l l a r s ) 34 13 1 262 17,343 695 219 4,903 4,215 343 668 260 364 301 336 3 11 11,989 3 2,890 4 4,129 2 3A99 3 2,771 25 48 4 40 75 20 37 5 23 44 5 48 49,507 * 2,680 587 424 27 Kansas City Dallas San Francisco 1,158 838 2,794 939 32 14 1 2,500 70 30 33 2,633 612 457 742 51 11 1 805 701 183 133 215 205 9 8,530 2 l 1,178 2 2,180 2 2,031 6 5,939 10 18 35 3 24 47 4 100 17 6 * 1,991 * 986 506 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent l i a b i l i t y on acceptances purchased f o r foreign correspondents 428 817 89 21 4o 4 117 229 19 8 14 147 7 19 2 56 - - - 50,841 2,745 14 27 4 60 116 12,354 2,967 4,252 3,26l 2,843 8,720 2,036 2/41 9 13 7 8 21 5 1,666 5,298 1,247 667 475 1,700 380 1 935 1,316 170 1,209 3 2,236 2,106 6 9 6,112 18 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2,262 6,740 2,643 29,156 1,693 1,895 C o l l a t e r a l f o r F. R. notes: Gold c e r t i f i c a t e account 2,000 870 650 495 9,055 715 E l i g i b l e paper 8 3 U . S . Government s e c u r i t i e s 1,880 5,100 1,325 1,560 -21l325- 1,275 Total c o l l a t e r a l 7,100 30,398 1,770 1,978 2,275 2,750 V A f t e r deducting $ 180million p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / A f t e r deducting $ 106million p a r t i c i p a t i o n s of other Federal Reserve Banks. mm mm mm mm mm «•§ 1,300 1,775 3,800 5,500 - — 510 680 1,196 325 4 900 891 2,958 275 1,000 - - we mm 2,100 3,100 1,229 925 *Less than $500,000. 650
@FedFRASER