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FEDERAL H.4.1 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 October 5, 1961 The a v e r a g e 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 October 4 i n c r e a s e d a n e t of $33 m i l l i o n t o $19;552 m i l l i o n . Cash allowed a s r e s e r v e s d e c r e a s e d $132 m i l l i o n and member bank r e s e r v e b a l a n c e s a t t h e F e d e r a l Reserve Banks i n c r e a s e d $165 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 i n c r e a s e d $154 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 $121 m i l l i o n t o $535 m i l l i o n . Exc e s s r e s e r v e s e x c e e d e d member bank b o r r o w i n g s a t t h e F e d e r a l R e s e r v e Banks by $501 m i l l i o n , compared w i t h t h e r e v i s e d f i g u r e of $629 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 change s u p p l y i n g a v e r a g e 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 Res e r v e Banks was an i n c r e a s e of $626 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 . The p r i n c i p a l o f f s e t t i n g changes were d e c r e a s e s of $391 m i l l i o n i n F e d e r a l Reserve f l o a t and $71 m i l l i o n i n g o l d s t o c k , and an i n c r e a s e of $ 6 l 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 . T o t a l Reserve Bank c r e d i t i n c r e a s e d $251 m i l l i o n . As of Wednesday, October 4, 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 $851 m i l l i o n h i g h e r t h a n a week e a r l i e r and member bank b o r r o w i n g s were $ l 6 m i l l i o n l o w e r . O u t r i g h t h o l d i n g s of b i l l s , c e r t i f i c a t e s , n o t e s , and bonds i n c r e a s e d $711 m i l l i o n , $11 m i l l i o n , $39 m i l l i o n , and $90 m i l l i o n , r e s p e c t i v e l y . NOTE: Because October 12 (Columbus Day) i s a h o l i d a y a t s e v e r a l R e s e r v e Banks, n e x t w e e k ' s s t a t e m e n t w i l l be i s s u e d on F r i d a y , October 1 3 . 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 i t e m s 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 a c c o u n t Held under r e p u r c h a s e agreement Acceptances-Bought o u t r i g h t Held u n d e r r e p u r c h a s e agreement D i s c o u n t s and a d v a n c e s - Member bank b o r r o w i n g s 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 Treasury cash holdings 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 s w i t h 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 a l l o w e d a s 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 O c t . 4, S e p t . 27, Ocl 5, 1961 1961 I960 ( I n m i l l i o n s of do]L i a r s ) Wedne sday, O c t . 4, 1961 ' +626 + 8 + 987 181 27,932 — — - 1 7 34 166 17 236 852 29-1 185 254 66 2 l , 187 29,221 17,351 5,564 52,136 624 9 45 87 162 118 631 32,739 419 481 241 293 1,051 35,224 886 +1,679 + 793 + 868 75 16,912 2, 587 19,499 18,986 513 27,823 11 34 - - - + 7 34 2 1, 332 29, 237 17,380 5, 5 6 # • 52,129*0 . -391 +251 - 71 + 2 +182 4* Hh -1, 4- 32,673^ • 4igM . 422 300 281 1,054 35; 14,23 » + + + + -f 17,036 2, 516 19,552 19,017 535 +165 -132 + 33 +154 -121 — — 6l 2 14 4 39 5 15 - - - + — + - + + — — On October 4, 1961, U. 8 . Government s e c u r i t i e s h e l d i n c u s t o d y by t h e F e d e r a l R e s e r v e Banks f o r f o r e i g n account were $6,129 m i l l i o n , an i n c r e a s e of $78 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 $602 m i l l i o n from t h e comparable d a t e a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In m i l l i o n s of d o l l a r s ) Oct. 4, 1961 ASSETS 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 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 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 16,009 1,065 17,074 (421) 34 - 3,071 1,632 19,678 3,551 27,932 100 - - - 100 15 16 - 1 + - - Total l o a n s 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 400 68 Change slnde Sept ' 27, Oct. 5, 1961 i960 - - + 4+ + + - 4* - 4- - 711 11 39 90 851 — — - - 27,932 4- 851 28,034 + l , 357 92 1,265 5 69 1 6 4- 172 -12,375 +12,168 + 1,067 + l , 032 150 + 882 836 + 806 85 + + 39 675 - + - 401 3 10 ' 60 27,717 + 124 + 450 16,912 481 241 293 17,927 602 4 112 5 4- 48i - 905 105 47 94 847 + (1,4i8) 3,487 86 49,217 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1, 4 l 8 ) 432 817 109 50,575 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. 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 (1,4l8) 4,674 110 283 50,575 (421) (997) (997) - + - -• + + 28 26 659 - - 16 4- 675 + + + - - + + - + + - - 227 43 127 29 42 4 60 Ratio of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t 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 c o n s o l i d a t e d ) •6fo 2.4# 37.1% Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents 2 123 79 * Figures i n parentheses are the e l i m i n a t i o n s made in the 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 "basis on f o l l o w i n g pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 4, 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 i n 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 65 10 436 +209 16 days t o 90 days 3 24 1,027 - 86 91 days t o 1 year --12,046 +647 Over 1 year t o 5 years --11,917 + 53 Over 5 years t o 10 years — -2,276 + 22 Over 10 years — — 230 + 6 Total SB 35 27,932 +551 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK Oil OCTOBER 4, 1961 Total Boston New York Philadelphia 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 outright— Bills Certificates Notes Bonds Total Held under repurchase agreement Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Francisco Dallas " T i n m i l l i o n s of d o l l a r s ) ASSETS 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 Cleveland 16,009 1,065 17,074 702 67 769 4,262 242 4,504 899 65 964 1,382 91 1,473 1,063 86 1,149 738 63 801 2,667 190 2,857 590 45 635 299 26 687 46 325 421 400 48 25 112 83 42 22 14 33 20 22 57 34 25 68 9 18 68 2 25 1 4 5 3 15 3 34 - — - — 34 - - - - - - — 733 640 34 6?4 2,080 no 2,190 20 9 15 11 18 16 41 59 6 3 1 - - - - " * - - 3,071 1,632 19,678 3,551 27,932 164 87 1,047 189 1,487 760 403 4,867 878 6,908 177 94 1,137 205 1,613 260 138 1,669 301 2,368 194 103 1,245 225 1,767 169 90 1,082 195 1,536 525 279 3,362 607 4,773 123 66 792 143 1,124 72 38 460 83 653 134 71 858 155 1,218 125 67 799 144 1,135 368 196 2,360 426 3,350 Total U. S. Government s e c u r i t i e s 27,932 1,487 6,908 1,613 2,368 1,767 1,536 4,773 1,124 653 1,218 1,135 3,350 Total l o a n s and s e c u r i t i e s 28,034 1,489 6,967 l,6l4 2,372 1,772 1,539 4,788 1,127 659 1,221 1,136 3,350 5,671 110 28S 403 4 13 1,150 9 64 347 4 15 439 8 43 425 6 17 390 13 15 889 24 45 247 7 10 176 5 6 282 6 12 253 13 11 670 11 32 51,993 2,751 12,889 3,008 4,382 3,411 2,849 8,696 2,053 1,200 2,280 2,121 6,353 Cash items i n process of collection Bank premises Other a s s e t s TOTAL ASSETS j * Less than $500,000. H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 4, 196l Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas ( I n m i l l i o n s of dol].ars) L I A B I L I T I E S San Francisco Federal Reserve n o t e s Deposits: Member hank r e s e r v e s U.S. Treasurer-general account Foreign Other Total d e p o s i t s 28,138 1,636 6,406 1,814 2,531 2,277 1,605 5,214 1,203 577 1,166 846 2,863 16,912 481 241 293 17,927 645 35 12 * 692 4,917 66 1/64 243 5,290 789 30 14 1 834 1, 282 34 23 1 1,340 695 23 11 5 734 780 39 13 1 833 2,458 52 35 1 2,546 569 32 8 * 609 424 20 6 * 450 776 52 11 1 840 931 33 14 1 979 2,646 65 30 39 2,780 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 4,484 354 807 278 359 333 333 730 193 l4l 214 216 526 16 3__ 2 , T s j T 12,519 4 2,930 27 4,257 3 3,347 4 2,775 12 8,502 2 2, 007 1 1,169 3 2,223 3 2,044 8 6,177 86 50/635 CAPITAL ACCOUNTS Capital paid i n 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 a c c e p t ances purchased f o r f o r e i g n correspondent s 432 817 109 21 4o 5 118 229 23 25 48 5 4o 75 10 20 37 7 23 44 7 61 116 17 15 27 4 10 19 2 18 35 4 25 47 5 56 100 20 51,993 2,751 12,889 3,008 4,382 3,411 2,849 8,696 2,053 1, 200 2,280 2,121 6,353 123 6 2/34 7 12 6 7 17 4 3 5 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. n o t e s outstanding C o l l a t e r a l f o r P. 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 29,190 1,707 6,656 1,865 2, 676 2,334 1,668 5,314 1,245 655 1,196 899 2,975 9,065 7 21,480 495 2,000 870 755 475 1,700 1,000 1,880 1,605 2,360 1,300 3,800 650 2, 200 l , 775 5, 500 325 3 900 1,228 275 5,100 7,100 380 3 935 1,318 170 1,275 l , 770 620 1 1,325 1,946 925 3, 200 30,552 2, 750 l / A f t e r deducting $177 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 $ 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. 510 680 * Less than $500,000.
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