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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 November 9, 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 held during the week ended November 8 decreased a net of $75 m i l l i o n t o $19, 677 m i l l i o n . Cash allowed as r e s e r v e s decreased $271 m i l l i o n and member bank r e s e r v e balances a t t h e Federal Reserve Banks i n c r e a s e d $196 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 $40 m i l l i o n ; and estimated excess r e s e r v e s decreased $ 3 5 m i l l i o n t o $ 5 0 9 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 Federal Reserve Banks by $418 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 $470 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 supplying average r e s e r v e b a l a n c e s with Federal Reserve Banks were i n c r e a s e s of $443 m i l l i o n in Federal Reserve holdings of U. 8. Government s e c u r i t i e s and a decrease of $45 m i l l i o n in "other" 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 a decrease of $108 m i l l i o n in Federal Reserve f l o a t and i n c r e a s e s of $167 m i l l i o n in currency in c i r c u l a t i o n and $32 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. T o t a l Reserve Bank credit incieased $ 3 5 6 m i l l i o n . As of Wednesday, November 8, holdings of U. S. Government s e c u r i t i e s bought o u t r i g h t were $ 2 5 6 m i l l i o n higher than a week e a r l i e r , U. S. Government s e c u r i t i e s held under repurchase agreement were $40 m i l l i o n higher, and member bank borrowings were $204 m i l l i o n h i g h e r . Outright holdings of b i l l s , c e r t i f i c a t e s , notes, and bonds, in c r e a s e d $120 m i l l i o n , $35 m i l l i o n , $60 m i l l i o n , and $4l m i l l i o n , respectively. 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 repurchase agreement Acceptances — Bought o u t r i g h t Held under repurchase agreement Discounts and a d v a n c e s 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 Nov. 8, Nov. 1, Nov. 9, 1961 1961 I960 (In m i l l i o n s of d o l l a r s ) 28,466 29 42 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 ( e s t i m a t e d ) Total r e s e r v e s h e l d 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 ) + +1,027 - 547 28,524 85 2 9 39 45 20 202 486 4 — - - 91 2 1,130 29,760 17;291 5, 5 8 0 ^ 52,63ZC . 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 ) +427 + 16 32,960 • 423 475 273 258 992 35,38gf|. 17,24l 2, 436 19, 677 19,168 509 + 17 - - - -108 + +356 + 606 - + 3 +348 + - 833 191 35 +167 + 670 - + + 25 57 + 23 11 + 11 16 + 32 - 45 + 2 +151 . +196 -271 - 75 - 4o - 35 Wednesday, Nov. 8, 1961 - 137 + 128 + 767 - 804 +1,684 + 880 + 977 - 97 2 707 29,843 17,276 5,581 52,700 33,160 424 465 274 269 992 35,584 17,117 2, 662 19,779 19,134 645 On November 8, 1961, U. 8. Government s e c u r i t i e s held i n custody "by the Federal Reserve Banks f o r f o r e i g n account were $5,968 m i l l i o n , a decrease of $28 m i l l i o n f o r the week and an i n c r e a s e of $398 m i l l i o n from the comparable d a t e a year ago. H.4.1(a) CONSOLIDATED Oj?' CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (in millions of d o l l a r s ) ASSETS Gold certifica£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 Held under repurchase agreement U. S. Government s e c u r i t i e s : Bought outright— 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 15,889 (353) NOV. 16,997 - 37 6 31 376 488 + 23 204 39 + 1 1,108 • + + - 936 ll4 822 + + 10 301 - 3 10 - - 3,362 1,689 19,829 3,644 28,524 „ 85 28,609 Total loans and s e c u r i t i e s 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 bank reserves U. S. Treasurer—general account Foreign Other Total deposits Change since 1; Nov. 9, 1961 I960 Nov. 8, 1961 29,136 (910) 120 35 60 4l + 40 296 64 -12,453 +12,299 4 1,039 H- 949 429 + 520 + 501 + 808 + 360 + + + + + 256 + 4,357 527 110 66 + + 293 + 518 - 99 l4o 5 7 24l + (1,263) 346 51,322 (353) 28,099 17,117 465 274 269 18,125 t 3 41 318 * — 14 - + - • • - 420 75 16 118 447 Deferred a v a i l a b i l i t y cash items + (910) 3,650 156 135 Other l i a b i l i t i e s and accrued dividends + + 24 1 73 TOTAL LIABILITIES + " 251 ( 1 , 2 6 3 ) 49,947 82 CAPITAL ACCOUNTS Capital paid In" + 26 433 Surplus — — 4817 42 + Other c a p i t a l accounts 16 125 3 + "318 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,263) 51,322 '66 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) 1.8# 36.5# Contingent l i a b i l i t y on acceptances purchased f o r foreign correspondents • 114 2 102 * Figures in parentheses are the eliminations made in the consolidating 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, NOVEMBER 8, 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.) U. S. Government s e c u r i t i e s Discounts and Changes advances Acceptances Holdings during week Within 15 days 8 559 4l6 -192 16 days t o 90 days 19 1,407 31 +233 91 days t o 1 year 12,228 +238 Over 1 year t o 5 years + 18 12,03k Over 5 years t o 10 years 2,286 - 1 Over 10 years — 238 Total 488 28,609 39 1.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CN NOVEMBER 8 , 1961 Total 777 3,837 65 273 842 4,110 917 67 984 1,395 91 1,486 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 15,889 1,108 16,997 Cleve- Rich- Atlanta St. Chicago land mond Louis In m i l l i o n s of d o l l a r s 1,090 1,180 794 72 866 90 2,506 188 676 2,694 47 723 Minneapolis Kansas City Dallas San Francisco 672 64i 35 2,293 108 317 46 718 676 2,401 5^ Philadelphia CM NewYork Boston F. R. n o t e s of other Banks Other cash 353 376 38 25 103 79 27 18 30 18 22 47 30 19 65 9 17 17 10 14 11 14 15 35 54 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 outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 488 4 136 16 32 9 21 209 7 1 27 25 1 194 98 1,145 285 143 213 185 575 288 3,388 135 79 39 464 85 146 73 137 69 39 39 3,362 831 179 4l8 90 1,055 4,904 194 901 1,518 7,054 85 1,689 19,829 3,644 28,524 85 211 1,648 12 107 1,255 309 2,419 1,805 93 1,090 200 1,568 1,682 230 68 4,874 798 14? 1,148 623 805 667 159 1,243 148 1,159 403 203 2,378 437 3,421 865 Total U. S. Government s e c u r i t i e s 28.6oc —JU518_ . 1 , 1 3 9 1.648 . 2,419 1,805 1,568 4,874 1,148 667 1,243 1,159 3,421 Total l o a n s and s e c u r i t i e s 29,136 1,522 7; 314 1,664 2,451 l,8l4 1,589 5,083 1,155 668 1,270 1,184 3,422 5,267 11C 346 379 4 19 907 9 86 339 4 20 433 410 13 20 878 24 58 26l 7 13 180 5 8 279 6 16 224 13 14 590 29 387 6 21 2,829 12,608 3,056 4,449 3,448 2,975 8,821 2,185 1,205 2,314 2,l4o 6,555 Cash items i n process of collection Bank premises Other a s s e t s TOTAL ASSETS 52,585 8 11 42 H.4.1(c) L I A B I L I T I E S Federal Reserve notes Deposits: Member tank reserves 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 8, 1961 Total Boston New York Philadelphia 28,452 1,653 6,473 1,836 2,554 2,309 1,643 5,249 17,117 465 274 269 18,125 701 37 12 760 20 14 2 796 1,335 45 23 1 1,4o4 699 3 11 4 717 844 44 13 1 902 2,533 750 4,569 29 1/94 220 4,912 4,560 355 829 341 358 353 73 4 2,762 19 12,233 4 2,977 6 4,322 5 3,384 433 125 21 40 6 118 229 28 25 48 6 4o 75 12 20 37 7 52,585 2,829 12,608 , 3,056 4,449 114 5 51,210 * Cleve- Rich- Atlanta Chicago St. land mond Louis (In m i l l i o n s of d o l l a r s ) San Francisco Minneapolis Kansas City 1,233 575 1,176 855 2,896 653 29 9 4l4 32 6 964 36 15 2,835 73 31 2,650 691 452 810 37 11 1 859 1,015 38 2,977 351 714 211 145 218 190 495 2,900 4 11 8,624 3 2,138 2 1,174 3 2,256 3 2,063 9 6,377 24 44 7 116 20 61 15 27 5 10 19 2 18 35 5 25 47 5 100 3,448 .. 2,975 8,821 2,185 1,205 2,314 2.140 6,555 6 16 4 3 5 7 l4 FEDERAL RESERVE AGENTS' ACCOUNTS 1,886 2,682 2, 376 1,699 1,276 5,348 652 1,201 920 3,013 160 325 27 900 1,252 275 1,000 675 950 2,200 3,200 80 35 2 * * Dallas * 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 c orrespondent s F. R. notes outstanding 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 Total c o l l a t e r a l 817 2/32 29,563 1,717 6,793 8,535 50 21,860 30,445 495 1,500 — — 1,275 1,770 5,400 6,900 7 600 16 1,325 1,941 10 5 870 755 475 1,700 mm mm 1,880 2,750 1,635 2,390 1 / A f t e r deducting $180 m i l l i o n 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 $ 82 m i l l i o n p a r t i c i p a t i o n s of other Federal Reserve Banks. 1,300 1,775 3,800 5,500 380 7 960 1,347 510 670 * 56 22 Less than $500,000.
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