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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Relase March 9, 1961 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member hank reserves held during the week ended March 8 decreased $2/5 million to $18,738 million, which included a decrease of $25 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $113 million; and estimated excess reserves decreased $162 million to $515 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $421 million, compared with the revised figure of $627 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $226 million in Federal Reserve float and $67 mil®" Government securities held under repurchase agreement, and increases of $28 million in currency in circulation and $34 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $154 million in U. S. Government securities bought outright and $44 million in member bank borrowings, and a decrease of $116 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $95 million. As of Wednesday, March 8, holdings of U. S. Government securities bought outright were $230 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $23 million higher, and member bank borrowings were $156 million higher. Outright holdings of bills, notes and bonds increased $5^ million, $149 million, and $69 million, respectively, while certificates decreased $42 million. Changes during the week in the maturity distribution of holdings of U. S. Government securities are shown in the table at the bottom of the next page. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 8, March 1, March 9, March 8, and related items 1961 1961 I960 1961 (In millions of dollars) Reserve Bank credit: U. 8. Government securities— Bought outright--System account 26,775 +154 +1,540 26,897 Held under repurchase agreement 18 - 67 17 23 Acceptances— Bought outright 47 - 1 + 11 46 Held under repurchase agreement 1 - 1 + 1 1 Discounts and advances-Member bank borrowings + 44 94 - 501 203 Other 10 + 1 + 10 9 Float 1,068 -226 - 106 8o4 Total Reserve Bank credit 28,014 - 95 + 939 27,983 Gold stock 17,373 -2, 039 17,373 Treasury currency outstanding - 5,405 + 72 5,406 50,792 - 94 -1,027 50,762 Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 31,794 433 415 233 398 1,087 34,360 + 28 - 6 -116 + 34 - 2 - 6 + 181 2 - 127 + 33 + 105 + 80 + 272 31,863 433 446 177 393 1,080 34,392 16,433 2,305 18,738 18,223 515 - 25 -250 -275 -113 -162 -1,298 +2,095 + 797 + 647 + 150 16,371 2, 453 18,824 18,195 629 On March 8, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,868 million, an increase of Jb million for the week and an increase of $1,194 million from the comparable date a year ago. H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) arch 8, 1961 A S S E T S Gold certificate"*account Redemption fund for F. R. notes Total gold certificate reserves Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal"Reserve-notes Deposits: Member hank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts (518) * -2,130 + 84 -2,046 - 6 156 + - 27 533 + 13 + 1 + 1 + 26,897 23 26,920 + + + + + 54 42 149 69 230 23 253 +1,426 -3,092 +3,195 + 143 +1,672 + 23 +1,695 27,179 + 410 +1,176 640 23 213 + + - 227 7 38 647 137 492 212 + 46 1 2,650 5,415 16,205 2,627 - 3,950 108 173 48,977 + 27,083 + 105 + 16,371 446 177 393 17,367 + + 154 40 34 31 129 -1,010 - 118 23 + 86 -1,065 463 3 226 + + - 238 1 689 + + - 27 42 27 IS Total loans and securities 16,029 1,046 17,075 1 Cash Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities Change since March 9, March 1, I960 1961 (871) 3,146 34 47,650 •a •» - - + - + • 421 817 - - 13 213 89 48,977 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the fol• lowing pages—not consolidated) - 3.7# 38.0# Contingent liability on acceptances purchased + 63 for foreign correspondents 175 3 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures cn combined basis on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 8, 1961 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and during week Holdings advances Acceptances +201 599* Within 15 days 203 12 -172 4,265 16 days to 90 days 9 35 11,115 - 13 91 days to 1 year +202 9,546 Over 1 year to 5 years 1,224 + 35 Over 5 years to 10 years 271 Over 10 years 5253 26,920 Total 212 W H.tul(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 8, 1961 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago Minneapolis Kansas City Dallas 648 46 694 349 26 663 375 712 48 760 32 695 2,074 101 2,175 (In millions of dol]Lars) A S S E T S San Francisco St. Louis 16,029 1,046 17,075 769 62 831 4,059 248 4,307 947 63 1,010 1,353 92 1,445 1,017 82 1,099 817 2,682 185 2,867 F. R. notes of other Banks Other cash 518 492 44 34 149 118 27 31 35 42 23 29 84 31 49 76 11 25 11 9 16 12 23 19 46 66 Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 212 10 36 15 10 16 17 54 17 2 33 1 1 5>15 291 871 2.627 26,897 23 l4l 1,445 Total U.S. Government securities 26.920 Total loans and securities Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash items in process of collection Bank premises Other assets TOTAL ASSETS 46 1 2,650 mwm *» •» 61 • • «. — #» mm mm mm 145 297 454 927 144 1,475 2,773 450 4,6o4 —— mm* mm 4* mm mm -w __ 61 126 376 61 114 107 219 655 106 1,087 661 1,351 4,042 655 6,709 23 152 310 928 150 1,540 1.445 6.732 1,540 2.311 1.702 1.475 4.604 1.087 624 1.155 1.084 3.161 27,179 1,455 6,815 1,555 2,321 1,718 1,492 4,658 1,104 626 1,188 1,085 3,162 4,821 108 173 337 4 9 933 9 42 305 4 364 345 4o6 15 11 770 22 30 208 7 7 151 5 4 254 5 8 238 10 12 10 14 7 510 12 20 50,366 2,714 12,373 2,942 4,230 3,231 2,852 8,472 2,056 1,181 2,243 2,081 5,991 16,205 142 46 1 756 — mm 228 465 1,392 226 2,3H m-mm 168 3^3 1,025 166 1,702 mmmm 8 6 889 mm am •w 624 107 311 232 218 636 696 113 1,155 653 106 1,084 1,905 309 3,161 •» m mm mm STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK MARCH 8, I96I Total Boston Phila- Cleveland delphia Nexr York Richmond Atlanta Chicago St. MinneLouis apolis Kansas City Dallas San Francisco (In millions of dollars) 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 27,601 1,589 6,406 1,810 2,501 2,122 1,578 5,151 1,194 588 1,135 810 2,715 16,371 446 177 393 17,387 709 27 8 * 7U 4,424 69 1/55 345 4,893 748 35 10 1 794 1,251 19 16 * 1,286 699 53 8 4 764 824 24 9 1 858 2,388 44 24 2 2,458 609 32 6 * 647 4c6 24 4 1 435 803 39 7 2 851 947 36 10 1 994 2,563 44 20 36 2,663 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,017 315 695 259 318 281 341 666 169 127 200 202 444 34 49,039 2 2,650 9 12,005 2 2,865 3 4,108 2 3,169 2 2,779 6 8,281 1 2,011 1 1,151 1 2,187 1 2,007 5,826 421 817 89 20 40 4 117 229 22 24 48 5 39 75 8 19 37 6 6 60 116 15 14 27 4 10 19 1 18 35 3 24 47 3 53 100 12 50,366 2,714 12,373 2,942 4,230 3,231 2,852 8,472 2,056 1,181 2,243 2,081 5,991 175 9 2/49 10 16 8 9 25 6 4 8 10 21 1,642 5,297 17235 662 1,157 849 2,847 380 180 300 275 1,100 900 625 2,000 h CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 5 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities 28,814 1^35 ST7^ 3^872 9,075 475 2,000 21,110 1,275 5,100 7,100 650 650 14 1,325 1,989 2^64627187 870 670 475 1,700 1,880 2,750 1,560 2,230 1,200 1,675 3,800 5,500 Total collateral 30,249 1,750 JL/ After deducting $122 mil lion participations of otlier Federal Reserve Banks 2/ After deducting $126 million participations of other Federal Reserve Banks 17 935 510 1,332 690 33 1,233 900 3,100 * Less than $500,000.
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