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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 11, 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 bank reserves held during the week ended May 10 decreased a net of $28 million to $18,?8l million. Cash allowed as reserves decreased $129 million and member bank reserve balances at the Federal Reserve Banks increased $101 million. Estimated required reserves decreased $75 million] and estimated excess reserves increased $47 million to $512 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $448 million, compared with the revised figure of $4o4 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $109 million in Federal Reserve holdings of U. S. Government securities and a decrease of $176 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $63 million in Federal Reserve float and an increase of $125 million in currency in circulation. Total Reserve Bank credit increased $46 million. As of Wednesday, May 10, holdings of U. S. Government securities bought outright were $120 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $15 million higher, and member bank borrowings were $146 million higher. Outright holdings of bills, notes, and bonds increased $26 million, $54 million, and $124 million, respectively, and certificates decreased $84 million. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptances—bought outright Discounts and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding 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) Averages of daily figures Week ended Change from week ended Wednesday, May 10, May 11, May 10, May 3, 1961 I960 1961 1961 (]Cn millions of dollars) 26,792 9 4l +100 + 9 - 3 +1,176 - 243 + 10 26,901 15 39 64 6 1,003 27,914 17,390 5,422 50,726 + + + + 2 + 48 - 485 + 6 + 79 + 543 -1,969 + 74 -1,352 217 5 934 28,111 17,395 5,423 50,929 31,968 420 396 204 304 961 34,253 +125 + 11 -176 - 17 + 6 - l - 52 + + + + + 245 1 108 20 10 107 256 32,034 437 446 220 315 962 34,414 16,474 2,307 18,781 18,269 512 +101 -129 - 28 - 75 + 47 -1,607 +2,082 + 475 + 46l + 14 16,516 2,632 19,148 18,224 924 3 1 63 46 On May 10, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,660 million, an increase of $26 million for the week and an increase of $780 million from the comparable date a year ago. H.4.1(a) CQCJSOLTDATBD STATEMENT OF CONDITION GP THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) May 10, 1961 ASSETS Gold Certificate account Redemption fund for F. R. notes Total gold certificate reserves l6> 054 1,028 17,o5§ Change since May 3, May 11, 1961 3.960 4 4 -2,068 + 80 -1,988 25 + 146 — 1 + 35 - 546 + 9 + + 873 + w - * 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 Total loans and securities (355) 409 222 39 • 2,495 k,917 16,506 2,983 26,901 15 26,916 + + + + 26 84 54 124 120 15 135 27,177 + 280 - + -3,590 +3,496 + 499 +1,278 - 167 +1,111 574 Cash items in process of collection Bank premises Other assets TOTAL ASSETS LIABILITIES Federal Reserve notes Deposits: Meniber bank reserves U. S. Treasurer—general account Foreign Other Total deposits (829) 4,308 108 326 (1,184) 49,410 169 ww + 16 + 98 + 71 + 4 - 57 -1,361 (355) 27,143 + 135 + + Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES (829) 3,374 43 (1,184) 48,057 16,516 446 220 315 17,497 69 253 + 6 14 + 77 -1,596 59 + 48 - 20 -1,627 135 + 5 + -52 - 44 + 2 -1,416 - - CAPITAL ACCOUNTS Capital~*paid In" 423 l + 25 ww + 42 Surplus 817 + Other capital accounts 113 - 12 17 + 98 -1,361 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (l,l84) 49,410 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages--not consolidated) 38.056 - .1% - 3.1# Contingent liability on acceptances purchased for foreign correspondents 143 5 21 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 10, 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 Discounts and Changes advances Acceptances Holdings during week Within 15 days 215 1§ 3,200 =3%Z 16 days to 90 days 6 27 6,l4o + 48 91 days to 1 year * — 5,758 + 1 Over 1 year to 5 years — — 9,700 + 81 Over 5 years to 10 years — — 1,967 + 97 Over 10 years — — 151 Total 222 39 26,916 +135 * Less than $500,000. H.4.l(t>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 10, I96I Total Boaton ASSETS F. R. notes of other Banks Other cash 16,054 1,028 17,082 355 409 758 60 W 14 26 % 332 684 26 358 688 48 736 636 31 667 2,201 104 2,305 25 63 8 22 8 9 13 11 18 21 29 58 4 15 1 2 30 * 10 137 270 908 164 1,479 426 840 2,820 510 4,596 101 198 664 120 1,083 58 115 386 70 629 109 214 720 130 1,173 101 200 671 121 1,093 299 590 1,979 358 3,226 1,702 1,479 4,596 1,083 629 1,173 1,093 3,226 1,018 I 1,454 992 82 1,074 826 63 889 2,707 182 2,889 123 94 17 16 25 36 17 21 58 32 130 2 18 7 617 1,216 4,082 v p8 6,653 15 144 212 284 417 954 1,399 172 , ?53 1,554 2,281 158 3p 1,045 188 1,702 2,281 3,953 237 4,190 ON Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves San Francisco New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas York delphia land mond Louis apolis City (In millions of dollars) 113 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 4,917 16,506 2*281 26,901 15 Total U. S. Government securities 26,916 ..1,432 6,668 Total loans and securities 27,177 1,435 6,837 1,556 2,299 1,709 1,483 4,611 1,084 631 1,203 1,093 3,236 5,137 108 326 347 4 18 973 9 81 354 4 18 4oo 8 27 385 6 21 4l6 12 19 839 23 55 230 7 12 155 5 8 265 5 15 217 14 13 556 11 39 50,594 2,662 12,307 2,983 4,249 3,233 2,909 8,505 2,047 1,174 2,248 2,043 6,234 Cash items in process of collection Bank premises Other assets TOTAL ASSETS 39 2,495 39 133 262 878 1,432 * Less than $500,000. H.4.1(c) OF CONDITIOF or EACHFE5ERAL KESEE7E SANK OH MAY ID, 1961 New York Total Boston Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas delphia land mond Louis apolis City(in millions of dollars} LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 27,498 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,203 16,516 446 220 315 17,4:97 , j* 49,241 6,363 1,808 2,477 661 4,532 20 . 47 11 1 / 56 259 _3 695 4,894 766 34 13 3 816 1,243 22 21 1 1,287 666 279 357 2 12 2,597 11,935 2 2,905 4 4,125 117 229 26 24 48 6 39 75 10 2,662 12,307 2,983 4,249 8 13 1,582 San Francisco 2,116 1,570 5,121 1,187 589 l,l4o 818 2,727 705 36 11 2 754 861 34 12 1 908 2,352 87 32 2 2,473 593 19 8 620 390 23 5 1 419 779 46 10 1 836 915 32 13 1 961 2,719 46 28 4i 2,834 298 355 710 193 134 213 187 493 2 2 3,170 2,835 7 0,311 2 2,002 1 1,143 2 2,191 2 1,968 5 6,059 23 44 7 60 116 18 14 27 4 10 19 2 18 35 4 24 47 4 55 100 20 3,233 2,909 8,505 2,047 1,174 2,248 2,043 6,234 8 20 5 3 6 8 18 FEDERAL RESERVE AGENTS' ACCOUNTS 6,689 1,855 2,620 2,183 1,629 5,230 1,231 663 1,167 866 2,844 1,700 380 180 1,000 wfc mm 300 30 900 1,230 * Less 275 mm mm 318 * CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign c orrespondents F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 423 817 113 50,594 143 28,603 20 40 5 7 j~/ 1,626 4o 19 37 7 7 650 670 8,975 870 475 2,000 475 —«™ wee — — 1 31 21,210 1,880 1,560 1,200 1,275 5,100 1,325 30,216 1,750 7,100 1,976 2,750 2,230 1,675 j:/ auasuuv vmg S>lb4 niixxion participations ox o*cner J?eaeraj. Reserve Banks« 2/ After deducting $103 million participations of other Federal Reserve Banks, mm mm mm mm 3,800 5,500 935 1,315 510 690 ** mm am am 2,100 625 900 3,100 than $500,000.
@FedFRASER