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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 C o n d i t i o ! S t a t e m e n t of F.R. B a n k s H.4.1 For lmmealBte release September 21, 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 h e l d during the week ended September 20 i n c r e a s e d $253 m i l l i o n t o $19,450 m i l l i o n , which included an i n c r e a s e of $206 m i l l i o n i n member bank r e s e r v e b a l a n c e s a t t h e Federal Reserve Banks. Estimated 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 $262 m i l l i o n ; and e s t i m a t e d excess r e s e r v e s d e c r e a s e d $9 m i l l i o n t o $579 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 F e d e r a l Reserve Banks by $535 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 $561 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 F e d e r a l Reserve Banks were i n c r e a s e s of $17 m i l l i o n in member bank borrowings and $657 m i l l i o n in F e d e r a l Reserve f l o a t , and d e c r e a s e s of $6l m i l l i o n i n c u r r e n c y in c i r c u l a t i o n and $40 m i l l i o n i n " o t h e r " F. R. accounts ( n e t ) . The p r i n c i p a l o f f s e t t i n g changes were a d e c r e a s e of $473 m i l l i o n i n F e d e r a l Reserve h o l d i n g s of U. S. Government s e c u r i t i e s and an i n c r e a s e of $97 m i l l i o n i n T r e a s u r y d e p o s i t s with Federal Reserve Banks. T o t a l Reserve Bank c r e d i t i n c r e a s e d $199 m i l l i o n . As of Wednesday, September 20, 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 $398 m i l l i o n lower than a week e a r l i e r , U. S. Government s e c u r i t i e s h e l d under repurchase agreement were $70 m i l l i o n h i g h e r , and member bank borrowings were $175 m i l l i o n h i g h e r . Outright 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 d e c r e a s e d $78 m i l l i o n , $62 m i l l i o n , $183 m i l l i o n , and $75 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 --System account Held under r e p u r c h a s e agreement Acceptances--bought o u t r i g h t Discounts and a d v a n c e s Member bank borrowings Other Float T o t a l Reserve Bank c r e d i t Gold stock Treasury currency o u t s t a n d i n g Currency in c i r c u l a t i o n Treasury cash h o l d i n g s 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 F e d e r a l Reserve Banks Cash allowed as r e s e r v e s ( e s t i m a t e d ) Tot al 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 ) Averages of d a i l y f i g u r e s Week ended Change from week ended S e p t . 20, S e p t . 21, S e p t . 13, 1961 1961 I960 ( I n m i l l i o n s of d o l l a r s ) 27,320 10 34 -483 825 36 -- 27,4o8 70 35 6 + 316 +1. 062 -1, 377 4- 178 135 202 l 1,730 29,444 17,452 5,555 52,451 604 10 15 58 66 112 733 32,675 420 559 269 321 1,054 35,298 868 685 817 756 61 17,153 2,855 20,008 18,925 1,083 + + 10 ~ — 44 1 1,843 29,251 17,451 5,554 52,257 + 17 32,775 413 566 282 313 1, o48 35,397 - 61 - 1 + 97 + 7 - 6 16,861 2,589 19,450 18,871 579 +206 + 47 +253 +262 - 9 - +657 +199 — — + 1 +201 - 4o - 4 Wednesday, S e p t . 20, 1961 + -t+ + + + - + + 33 On September 20, 1961, U. S. Government s e c u r i t i e s h e l d i n custody by t h e F e d e r a l Reserve Banks f o r f o r e i g n account were $5,916 m i l l i o n , a d e c r e a s e of $37 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 $513 m i l l i o n from t h e comparable d a t e a y e a r ago. H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 20, 1961 Total Boston New York Philadelphia Richmond A t l a n t a Chicago St. Louis Minneapolis Kansas City San Francisco Dallas ( i n m i l l i o n s of d o l l a r s ) A S S E T S Gold c e r t i f i c a t e account Redemption f u n d 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 16,111 1,069 17,180 757 67 824 4,158 244 4,402 880 63 943 1,449 92 i,54l 1,047 87 1,134 747 64 811 2,653 191 2,844 626 45 671 295 26 321 726 47 773 631 33 664 2,142 110 2,252 F . R. n o t e s of o t h e r Banks Other c a s h 448 4o8 54 24 107 86 4l 22 14 32 26 23 60 35 25 67 12 20 20 9 17 11 18 18 54 61 D i s c o u n t s 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 u n d e r r e p u r c h a s e agreement 203 4 93 1 * 3 10 53 6 1 25 4 3 —— 33 —— —— mm mm mm mm 2,687 1,621 19,639 3,461 27,408 70 143 86 1,046 184 1,459 63 38 459 81 641 117 71 856 151 1,195 109 66 797 l4i 1,113 323 194 2,355 415 3,287 T o t a l U. S . Government s e c u r i t i e s 27,478 T o t a l l o a n s and s e c u r i t i e s Cash i t e m s i n p r o c e s s of collection Bank p r e m i s e s Other a s s e t s TOTAL ASSETS 33 mm mm 664 4oi 4,857 856 6,778 70 155 94 1,134 200 1,583 1,459 6,848 1,583 2,324 1,735 1,507 4,683 1,103 64l 1,195 1,113 3,287 27,714 1,463 6,974 1,584 2,324 1,738 1,517 4,736 1,109 642 1,220 1,117 3,290 7,434 110 227 485 4 12 1,532 9 55 480 4 13 600 8 20 531 6 15 502 13 13 1,230 24 39 330 7 9 212 5 4 385 6 10 300 13 10 847 11 27 53,521 2,866 13,165 3,087 4,539 3,473 2,951 8,965 2,158 1,213 2,422 2,l4o 6,542 — — - - 228 137 1,665 294 2,324 - - 170 103 1,243 219 1,735 - - 148 89 1,080 190 1,507 - - 459 277 3,356 591 4,683 - - 108 65 791 139 1,103 - - - - * - - Less t h a n $$00,000. H. 4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS ( i n millions of dollars) Sept. 20, 1961 A S S E T S Gold c e r t i f i c a t e account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves Cash Discounts and advances Acceptance s--bought outright 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 16,111 1,069 17,180 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 6 + 3 3 + 16 + + + - * (448) 408 203 33 + + 2,687 1,621 19,639 3,461 27,408 70 27,470 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 assets TOTAL ASSETS Change since Sept. 21, Sept. 13, 1961 i960 27,714 (1,241) 171 78 - 62 183 - 306 -12,386 +12,129 + 977 + 1.026 + 70 - 75 398 70 328 + 1,09b - 157 + 1,210 +1,183 + + 514 3 28 422 48l - + (1,689) +1,045 + (448) 27,676 - 128 + 320 99 20 - 269 321 10,302 (1,241) (1,689) 4,463 64 50,505 7 113 1 + 6,193 110 227 51,032 17,153 559 1,376 92 1,204 —— + 6 - - - - + 399 - 188 16 71 57 190 + 763 2 + + + 37 24 352 + + - - +1,032 + CAPITAL ACCOUNTS Capital paid in + + 432 1 30 Surplus + - 817 42 Other capital accounts + 12 78 2 TOTAL LIABILITIES AND CAPITAL ACC0UNTS(l,689) 51,832 + +1,045 422 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 figures as shown on the f o l lowing pages--not consolidated) 37.( 3-< Contingent l i a b i l i t y on acceptances purchased for foreign correspondents 126 79 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined b a s i s on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 20, 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 securities Discounts and Changes advances Acceptances Holdings during week Within 15 days 200 8 451 + 49 16 days t o 90 days 3 25 1,208 + 5 91 days t o 1 year 11.477 -312 Over 1 year t o 5 years 11,864 70 Over 5 years t o 10 years 2,254 Over 10 years 224 Total 203 33 27.478 -328 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 20, 196l Minneapolis Kansas City San Francisco Boston Federal Reserve notes Deposits: Member hank reserves U-S. Treasurer-general account Foreign Other Total deposits 28,124 1,639 6,409 1,816 2, 536 2,254 1,601 5, 221 1,201 579 1,166 850 2,852 17,153 559 689 321 18,302 26 13 1 729 4,931 132 1 / 74 273 5,410 762 23 l6 1 802 1, 313 39 25 l 1,378 691 48 13 2 754 791 31 l4 2 838 2, 517 39 38 2 2,596 591 34 9 1 635 403 20 6 912 31 16 429 833 54 12 1 900 2,720 82 33 37 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 — 5,704 431 9 66 389 498 399 437 949 275 173 297 CVI New Fhila- Cleve- Rich- Atlanta Chicago St. York delphia| land mond Louis 1 i (In millions of dollars) Total 638 .... 64 3 17 4 5 4 3 10 2 2 3 3 8 52,194 2,802 12,802 3,011 4,417 3,411 2,879 8,776 2,113 1,183 2, 366 2,064 6,370 432 81? 78 21 40 3 118 229 16 25 48 3 40 75 7 20 37 5 23 44 5 116 12 61 15 27 3 10 19 1 18 35 3 25 47 4 56 100 16 53,521 2,866 13,165 3,087 4,539 3,473 2,951 8,965 2,158 1, 213 2,422 2, l4o 6,542 126 6 7 12 6 7 18 4 3 6 7 15 FEDERAL RESERVE AGENTS' ACCOUNTS 1,866 1,680 2,679 2, 331 5,329 1,253 660 1,203 908 3,001 1,700 380 170 L I A B I L I T I E S * * 959 CM TOTAL LIABILITIES 269 Dallas 2,872 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent l i a b i l i t y on acceptances purchased for foreign c orre spondents g / 3 5 F. R. notes outstanding 29,288 1,713 6,665 Collateral for F. R. notes: Gold c e r t i f i c a t e account 2,000 650 870 9,095 495 755 E l i g i b l e paper —— - 1 32 U. S. Government s e c u r i t i e s 21,480 l , 275 1,880 5,100 1,605 l , 325 Total c o l l a t e r a l 30,607 l , 770 7,100 2,360 1,976 2,750 1/ After deducting $195 million participations of other Federal Reserve Eankti. 2 / After deducting $ 91 million participations of other Federal Reserve Banks. — — — — 475 — — 1,300 l , 775 — 3,800 5,500 6 935 1,321 1,000 325 275 25 900 2, 200 650 1,250 3, 200 925 ~~ ~ ~ Less than ^500,000. — •» — — 510 680 * mm mm
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