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BOABi) OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.I For Immediate Release A p r i l l 4 , i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS 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 t h e week ended A p r i l 13 i n c r e a s e d a net of $5 m i l l i o n t o $17,874 m i l l i o n , which r e f l e c t e d i n p a r t a decrease of $16 m i l l i o n i n member bank r e s e r v e balances 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 decreased $56 m i l l i o n ; and estimated excess r e s e r v e s i n c r e a s e d $6l m i l l i o n t o $503 m i l l i o n . Member bank borrowings a t t h e Federal Reserve Banks exceeded excess r e s e r v e s by $168 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 $262 m i l l i o n the week b e f o r e . The p r i n c i p a l changes reducing 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 $174 m i l l i o n i n currency i n c i r c u l a t i o n and $37 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, and a decrease of $33 m i l l i o n i n member bank borrowings. The p r i n c i p a l o f f s e t t i n g changes were i n c r e a s e s of $91 m i l l i o n i n U. S. Government s e c u r i t i e s h e l d under repurchase agreement and $21 m i l l i o n bought o u t r i g h t , and $31 m i l l i o n i n "other" loans, discounts, and advances, and decreases of $44 m i l l i o n in Treasury d e p o s i t s with Federal Reserve Banks, and $25 m i l l i o n i n "other" F. R. accounts ( n e t ) . T o t a l Reserve Bank c r e d i t i n c r e a s e d $123 m i l l i o n . As of bought o u t r i g h t s e c u r i t i e s held bank borrowings Wednesday, A p r i l 13, holdings of U. S. Government s e c u r i t i e s were $65 m i l l i o n higher than a week e a r l i e r , U. S. Government under repurchase agreement were $68 m i l l i o n higher, and member were $306 m i l l i o n lower. 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 outright—System account Held under repurchase agreement Acceptances—bought o u t r i g h t Loans, d i s c o u n t s , and. advances— 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 i n c i r c u l a t i o n Treasury cash holdings Treasury d e p o s i t s w i t h 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 (estimated) 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 (estimated) Averages of d a i l y f i g u r e s Week ended Change from week ended Wednesday, A p r i l 15, A p r i l 13, A p r i l 6, A p r i l 13, i960 I960 1959 I960 (In m i l l i o n s of d o l l a r s ) 260 133 2 25,329 125 32 - 33 + 31 + 12 +123 - 12 + 2 +111 32 + 44 + 94 - 284 -1,046 + 90 -1, 240 419 85 933 26,922 19,386 5,343 51,652 31,823^ 417 465 200 349 917 34,175 +174 - 7 - 44 + 37 - 7 - 25 +127 + - 462 295 + - 79 6 264 - 176 31,839* 426 273 237 344 852 33,971 17,634 240 17,874 17,371 503 - 16 + 21 + 5 - 56 -1,064 + 240 - 824 25,285 111 33 + 21 + 91 671 62 910 27,073 19,394 5,343.2 51,809 - - + 61 + - + 6 883 59 17,681 240 17,921 17,481 440 On A p r i l 13, i960, U. S. Government s e c u r i t i e s h e l d i n custody by t h e Federal Reserve Banks f o r f o r e i g n account were $4,765 m i l l i o n , an i n c r e a s e of $15 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 $1,101 m i l l i o n from t h e comparable d a t e a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) Change since A p r i l 15, A p r i l 6, I960 1959 A p r i l 13, I960 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F . R. notes 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 F . R. notes of o t h e r Banks Other cash Discounts and advances I n d u s t r i a l loans 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 under repurchase agreement T o t a l U. S . Government s e c u r i t i e s T o t a l loans and s e c u r i t i e s Due from f o r e i g n banks Cash items i n process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 18,147,642 948,368 19,096,010 401,736 401,087 503,850 - - —— 11,001 2,204 13, 205 21, 556 35,382 266,007 —— 4- - + 64,700 - — - - + + + 782,250 34,139 748,111 10,289 8,673 4l4,351 4 2,720 259,083 -10,142,733 +10,142,733 - - 64,700 67, 500 132,200 - - 259,083 88,400 347,483 759,118 133,807 25,989,231 15 5,853,735 102,678 302,490 52,146,982 + + + + 869,268 87 19,723 685,120 + + 286,851 7,501 112,822 1,654,795 + 427,860 - - — — 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 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 27,434,359 + 53,532 17,680,611 272,792 236,982 344,096 18,534,481 4,920,551 36,078 50,925,469 + 19,966 144,386 71,591 7,429 60,258 76l,546 1,210 756,030 c a p i t a l a c c o u n t s Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 396,306 774,808 50,399 52,146,982 + + 71,451 685,128 41.5% - .1# 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 Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l loan commitments - + + 31,702 1,328,117 8,506,993 13,010,298 2,483,771 25,329,179 124,500 25,453,679 - + - + - + + 549 - 1,231,995 226,622 20,280 + 1,207 - 1,477,690 397,494 + 5,922 1,441,402 ~ - - - + - - 169,487 - - - - 20,230 93,602 140,021 1,654,795 .7# - 10,480 + - - - 111,395 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 13, I960 (Acceptances and s e c u r i t i e s held under repurchase agreement a r e c l a s s i f i e d as maturing w i t h i n 15 days i n accordance with maximum m a t u r i t y of t h e agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 y e a r Over 1 year t o 5 y e a r s Over 5 years t o 10 years Over 10 y e a r s Total Discounts and advances 412,78? 91,015 48 — --503,850 Acceptances 7,160 24,542 -— -— 31,702 U. S . Government securities 362,660 788,307 14,308,643 8,544,212 1,178,574 271,283 25,453,679 SIA.TEMEMT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 13, 3-960 St. ClevePhilaRichmond A t l a n t a Chicago Boston New York Louis delphia land ( i n thousands of d o l l a r s ) B.4.1(b) Total ASSETS Kansas City Dallas 690,618 315,183 691,495 612,127 2419,503 178,859 45,295 23,604 44,378 946,953 3268,440 735,913 338,787 735,873 885,355 3089,581 18,147,642 831,120 948,368 57,708 19,096,010 888,828 F . R . n o t e s of o t h e r Banks Other cash 401,736 401,087 21,782 24,951 115,062 70,618 15,868 l 6 ; 270 20,334 37,291 25,719 22,361 82,023 33,030 20,059 73,538 10,124 22,400 10,016 10,815 16,583 14,038 23,060 18,280 41,106 57,495 Discounts and advances Acceptances; Bought o u t r i g h t U. S . Govt, 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 503,850 27,980 59,395 14,64o 30,990 33,032 53,870 125,097 17,705 50,030 47,620 14,911 28,580 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 reserves 4,875,778 1062,704 1633,054 1041,124 San Francisco Minneapolis 204,675 84,669 74,987 5,080,453 1120,470 1717,723 1116,111 61,598 32,420 82,409 644,547 2501,912 31,702 31,702 1,328,117 8, 506,993 71,373 457,166 13,010,298 699,173 2,483,771 133,478 25,329,179 1361,190 124,500 57,766 30,819 57,004 53,523 156,091 197,405 365,129 342,832 999,810 301,904 558,415 524,315 1529,074 57,636 106,606 100,096 291,913 587,764 1007,154 1020,766 2976",W 76,042 114,108 84,063 72,821 227,319 53,679 331,275 2,121,916 487,076 730,895 538,450 466,447 1456, o4o 343,827 3,245,185 744,918 1117,806 823,487 713,368 2226,816 525,837 619,532 142,211 213,398 157,210 136,188 425,117 100,386 6,317,908 1450,247 2176,207 1603, 210 1308,024 4335,292 1023,729 -- 5OO -- -- -- T o t a l U. S . Govt, s e e s . 25,453,679 1361,190 6,442,408 1450,247 2176,207 1603,210 1388,824 4335,292 1023,729 587,764 1087,154 1020,766 2976,888 Total loans & s e c u r i t i e s 25,989,231 1389,170 6,533, 505 1464,887 2207,197 1636,242 1442,694 4460,389 I04i, 434 637,794 1134,774 1035,677 3005,468 1 2 Due from f o r e i g n banks Cash items i n process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 15 1 5,853,735 102,678 302,490 395,776 4,224 16,163 / 4 1,090,621 9,742 74,633 1 1 1 1 2 352,624 3,969 17,206 488,577 9,096 25,985 466,, 819 6,522 19,131 581,799 10,284 17,294 916,274 17,711 51,033 2 254,014 6,924 12,118 / / 156,602 4,986 6,992 1 1 2 284,342 4,580 13,893 289,583 12,650 12,316 576,704 11,990 35,726 52,146,982 2740,895 12,974,638 2991,295 4506,204 3292,906 3114,078 8807,446 2082,927 1165,992 2204,084 2036,114 6230,403 l / A f t e r deducting $11,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. 2 / Less t h a n $500. g.4.l(c) Total 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.Treas.-gen.acct. 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 STATEMENT OF CONDITION OF EACH FEDERA RESERVE BANK ON APRIL 13, I960 St. ClevePMlaRichmond A t l a n t a Chicago Mew York Boston Louis land delphla ( I n thousands of d o l l a r s ) 27,434,359 1576,546 6,416,733 1779,365 2506,813 2048,583 1545,605 5191,452 1195,818 17,680,611 4,868,164 825,139 1423,553 212,905 5,701 5,250 1/69,672 13,806 21,996 273,501 2,496 1.136 5,424,242 847,142 1451,935 236,982 344,096 18,534,481 710,260 5,284 11,466 1.554 728,564 4,920,551 373,511 272,792 776,160 291,327 431,761 Minneapolis Kansas City Dallas San Francisco 605,699 1096,617 781,251 2689,877 768,271 5,743 10,530 5.583 790,127 963,427 2611,114 619,052 382,307 815,372 5,367 5,201 5,888 5,569 4,986 5,382 9,594 7,722 12,168 32,292 sol 2.226 1.625 2.680 5,851 983,844 2654,247 634,287 393,559 832,393 905,167 2788,785 5,457 5,441 13,572 28,782 2.244 44,693 926,440 2867,701 397,174 518,513 256,869 785,419 210,342 137,150 222,766 519,559 1,977 9,724 1,840 3,018 1,928 1,885 5,574 1,174 1,245 l,4oo 1,676 4,637 36,078 2680^598 12,626,859 2919,674 4393,527 3237,812 3049,847 8636,692 2041,621 1137,653 2153,176 1966,236 6081,774 50,925,469 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES CAPITAL ACCOUNTS Conting. l i a b . on a c c e p t ances purchased f o r f o r e i g n correspondents 396,306 774,808 50,399 19,511 38,332 22,454 Mb 23,219 45,638 2',764 2,764 36,640 72,530 3,507 17,670 34,566 2,858 20,832 40,306 3,093 55,087 107,334 8,333 13,307 25,862 2,137 9,175 17,580 1,584 16,643 31,720 2,545 22,938 44,645 2,295 48,282 95,390 4,957.. 4,957 52,146,982 2740,895 12,974,638 2991,295 4506,204 3292,906 3114,078 8807,446 2082,927 1165,992 2204,084 2036,114 6230,403 169,487 8,305 6C F . R. n o t e s o u t s t a n d i n g j 28,404,722 1638,780 C o l l a t . f o r F . R. n o t e s : / Gold c e r t i f i c a t e a c c t J 10,585,000 530,000 __ E l i g i b l e paper \ 68,525 1250,000 U. S . Govt, s e c u r i t i e s -18 >32$, 0001780,000 Total c o l l a t e r a l l / A f t e r deducting $167,3- L0,000 p a r t i c i p a t i o n s 2 / A f t e r deducting $121,If )2,000 p a r t i c i p a t i o n s 3 •? > 113,002 220,905 13*872 13,872 2/48,295 10,000 15,933 7,627 8,8l4 23,391 5,593 3,899 6,950 FEDERAL RESERVE AGENTS' ACCOUNTS 6,732,207 1817,006 2559,810 2101,871 1605,578 5308,733 1243,964 Z/7.%, f Z C 2,900,000 700,000 920,000 675,000 500,000 1900,000 430,000 — — 9,625 — — —— — 14,900 4.000,000 12.00,000 83OyOO0/1465,000 1200,000 3700,000 935,000 6,900,000 1909,625 175%66€L£i4o,000 1700,000 5600,000 1379,900 of o t h e r F e d e r a l Reserve Banks .A of o t h e r F e d e r a l Reserve Banks. 9,831 20,849 615,804 1119,614 — 825,479 2835,876 180,000 250,000 1300,000 300,000 44,000 450,000 870,000 630,000 1214,000 625,000 1800,000 875,000 3100,000
@FedFRASER