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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 H.4.1 For immediate r e l e a s e September 7, 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 September 6 d e c r e a s e d a n e t of $75 m i l l i o n t o $19,094 m i l l i o n . Cash allowed as r e s e r v e s d e c r e a s e d $233 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 $158 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 d e c r e a s e d $3 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 $72 m i l l i o n t o $530 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 $473 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 $565 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 $564 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 and $20 m i l l i o n i n member bank borrowings, and a d e c r e a s e of $29 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 w i t h F e d e r a l Reserve Banks. 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 $102 m i l l i o n i n F e d e r a l Reserve f l o a t and $128 m i l l i o n i n gold s t o c k , and i n c r e a s e s of $189 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 and $40 m i l l i o n i n f o r e i g n d e p o s i t s w i t h F e d e r a l Reserve Banks. T o t a l Reserve Bank c r e d i t i n c r e a s e d $484 m i l l i o n . As of Wednesday, September 6, 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 $643 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 rowings were $9 m i l l i o n h i g h e r . O u t r i g h t h o l d i n g s of b i l l s , n o t e s , and bonds i n c r e a s e d $543 m i l l i o n , $77 m i l l i o n , and $23 m i l l i o n , r e s p e c t i v e l y . 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 account Held under r e p u r c h a s e agreement AcceptancesBought o u t r i g h t Held under r e p u r c h a s e agreement 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 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 allowed 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 ) * $$00,000 or l e s s Averages of d a i l y f i g u r e s Week ended Change from week ended S e p t . 7, S e p t . 6, Aug. 30, i960 1961 1961 ( I n m i l l i o n s of d o l l a r s ) 27,840 +564 — — mm mm +1,200 - 144 27,902 2 34 35 1 + 20 Wednesday, S e p t . 6, 1961 68 999 28,931 17,451 5,553 51,935 -102 +484 -128 + 1 +357 204 1 4- 138 4- 990 -l,548 4" 181 376 1,080 29, 084 17,452 5,553 52,089 32,663^ • 4o$k * 469 270 303 1, i l l 35,22X3 . +189 - 8 - 29 + 40 + 5 + 2 +199 4» 489 9 8 437 108 4* 100 4- 519 32,828 4l8 557 274 324 1,108 35,509 16,712 2,382 19,094 18,564 530 +158 -233 - 75 - 3 - 72 895 +1,631 + 736 + 864 128 - 16,580 2,578 19,158 18,628 530 57 * * * - + - On September 6, 196l, U. S. 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 Reserve Banks f o r f o r e i g n account were $5,866 m i l l i o n , a d e c r e a s e of $102 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 $44$ m i l l i o n from t h e comparable d a t e a year ago. 5.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS ( i n m i l l i o n s of d o l l a r s ) S e p t . 6, 1961 A S S E T S Gold c e r t i f i c a t e a c c o u n t Redemption f u n d 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 16,142 1,044 177135 (376) 30 9 2 (892) (1,268) (376) 2 109 2 - 4- 2, 811 683 19,872 3,536 27, 902 + 543 + + + 77 23 643 27,902 + 643 4- 28,oo4 4- 654 4- 1,072 4- + 34 l 21 609 - 376 5 22 86 + 272 + 376 4- 395 32 48 34 509 4,013 110 205 27,813 16,580 557 274 324 17,735 (892) - 1,589 74 1,515 (1,268) 2,933 65 48,546 C A P I T A L ACCOUNTS Capital paid in Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS ( l , 2 6 8 ) 430 817 111 49,904 - 4- + 44- + - 44- 191 7 597 172 L2,324 +12,362 + 1,052 4- 1 , 2 6 2 83 4- 4- - 44- 4" 4- £ 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 a c c r u e d d i v i d e n d s TOTAL LIABILITIES + + 4- 1—1 L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U. S . T r e a s u r e r - - g e n e r a l a c c o u n t Foreign Other Total deposits - 1 1 1, 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 c o l l e c t i o n Bank p r e m i s e s Other a s s e t s TOTAL ASSETS 386 68 34 - 1—1 Cash D i s c o u n t s and a d v a n c e s 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 T o t a l 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 T o t a l U. S. Government s e c u r i t i e s Change s i n c e Aug. 30; S e p t . 7, 1961 i960 742 39 79 52 676 132 24 l44 4444- 12 609 - 28 42 12 86 R a t i o of g o l d 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. n o t e l i a b i l i t i e s combined (comp u t e d from f i g u r e s a s shown on t h e f o l lowing p a g e s - - n o t c o n s o l i d a t e d ) .6f> - 3 - 1 # 37.4% Contingent l i a b i l i t y on a c c e p t a n c e s p u r c h a s e d for foreign correspondents 68 1 135 * F i g u r e s i n p a r e n t h e s e s a r e t h e e l i m i n a t i o n s made i n t h e c o n s o l i d a t i n g p r o c e s s ; see comparable f i g u r e s on combined "basis on f o l l o w i n g p a g e s . MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 6, 1961 ( A c c e pt a n c e s and s e c u r i t i e s h e l d u n d e r r e p u r c h a s e agreement a r e c l a s s i f i e d a s m a t u r i n g w i t h i n 15 days i n a c c o r d a n c e w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) D i s c o u n t s and advances Within 15 d a y s 67 16 days t o 90 d a y s 1 91 days t o 1 y e a r -Over 1 y e a r t o 5 y e a r s -Over 5 y e a r s t o 10 y e a r s -Over 10 y e a r s -Total 55 Acceptances 12 22 ----35 U. S. Government s e c u r i t i e s Changes Holdings d u r i n g week 452 +217 1,187 +128 11,851 +250 11,934 + 34 2,254 + 8 224 + 6 277902 +543 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 6, 1961 Total Boston New York Philadelphia Cleveland. Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco (in 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 for F. R. notes Total gold c e r t i f i c a t e reserves F. R. n o t e s of other Banks Other cash Discounts and advances Acceptances: Bought outright 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 under repurchase agreement l6,l42 1,044 17,186 724 62 786 4,166 235 4,401 874 64 938 1,357 91 1,448 1,060 89 1,149 756 64 820 2,756 187 2,943 637 46 663 301 26 3^7 721 47 768 629 33 2,l6l 100 ob'd •d/d6± 376 386 46 24 93 78 33 21 13 34 18 22 58 35 22 65 9 19 21 9 17 10 15 20 31 49 68 10 11 3 18 5 4 8 * 2 5 1 1 34 - - 34 ll4 68 807 144 1,133 337 202 2,383 424 3,346 2.811 149 1,683 90 19,872 1,058 188 3,536 27,902 1,485 WW mm 695 4l6 4,9-14 875 6,900 - - - - - — 163 97 1,148 204 1,612 «- — 238 143 1,685 300 2,366 — — 178 106 1,258 224 1, 766 155 93 1,092 194 1,534 — — — — - - 481 287 3,396 6o4 4,768 - - - 113 68 800 142 1,123 — - 65 4o 465 83 653 - - 123 73 866 154 1,216 - - ~ - - - Total U. S. Government s e c u r i t i e s 27,902 1,485 . 6,900 1,612 2, ^66 1,766 1,534 4,768 1,123 653 1,216 1,133 3,346. Total loans and s e c u r i t i e s 28,004 1,495. 6,945 1,615 2,384 1,771 1,538 4,776 1,123 655 1,221 1,134 3,347 993 9 51 307 4 12 385 8 17 376 6 12 356 13 .12 755 24 34 217 7 8 150 5 5 250 6 9 226 13 9 550 11 25 12,570 2,930 4,289 3,354 2,832 8,619 2,066 1,172 2,28l 2,079 6,274 Cash items in process of collection Bank premises Other a s s e t s 4,905 310 205 TOTAL ASSETS 340 4 . 11 . 51A72 2; 706 I •x-Less than $500,000. H.4.1(c) STATEMENT OF- CONDITION OF EACE INDERAL KESEKVE BANK. ON SEPTEMBER 6, 1961 Total L I A B I L I T I E S Federal Reserve notes 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 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 f o r e i g n corre spondents 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 d o l l a r s ) 28,189 1,640 6,444 1,821 2,531 2, 242 1,610 5,225 16, 58O 557 274 324 17,735 635 38 13 1 687 4,605 78 1/79 271 5,033 738 35 16 l 790 1,246 46 25 1 l , 318 693 4o 13 3 7%9 809 22 14 1 646 2, 473 83 38 1 2,595 3,825 310 705 237 309 295 299 65 49,814 3 2,~F4O 17 12,199 4 2,852 6 4,164 5 3,291 430 817 111 21 4o 5 117 229 25 25 48 5 40 75 10 51,172 2, 706 12,570 2,930 135 7 2/38 8 1, 201 San Francisco 581 1,170 849 2,875 595 30 9 1 535" 4o4 29 6 896 42 16 439 786 61 12 1 860 954 2, 700 53 33 43 2,829 593 183 119 192 197 386 3 2,758 11 8,424 2 2, 021 2 1,141 2 2, 224 3 2, 003 7 6,097 20 37 6 23 44 7 61 116 18 l4 27 4 10 19 2 18 35 4 25 47 4 56 100 21 4,289 3,354 2,832 8,619 2, 066 1,172 2,281 2, 079 6,274 12 6 7 19 5 3 6 8 16 * * FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding C o l l a t e r a l for 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 29,191 1,699 6,671 1,86 2 2,655 2,314 l , 674 5,331 l , 243 662 1,205 898 2,977 9,075 8 21,380 30,463 495 2,000 650 3 l , 325 l , 978 870 735 475 1,700 380 170 325 5 900 1,230 275 1, 000 650 925 2,100 3,ioo — - 1,275 1,770 5,100 7,100 1,880 2,750 1,605 2,340 1 / A f t e r deducting $195 m i l l i o n p a r t i c i p a t i o n s of o t h e r Federal Reserve Banks. 2 / A f t e r deducting $ 97 m i l l i o n p a r t i c i p a t i o n s of o t h e r Federal Reserve Banks. 1,300 l , 775 * 3,800 5,500 - » 510 680 935 1,315 * Less than $$00,000,
@FedFRASER