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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release April 28, 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 daily figures of total member bank reserves held during the week ended April 27 increased a net of $63 million to $18, 3^3 million, which reflected in part an increase of $71 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $15 million; and estimated excess reserves increased $78 million to $442 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $82 million, compared with the revised figure of $197 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were decreases of $246 million in currency in circulation, $173 million in "other" deposits with Federal Reserve Banks, and $107 million in Treasury deposits with Federal Reserve Banks, and an increase of $27 million in U• S. Government securities bought outright. The principal offsetting changes were decreases of $232 million in Federal Reserve float, $207 million in U. S. Government securities held under repurchase agreement, and $37 million in member bank borrowings. Total Reserve Bank credit decreased $456 million. As of Wednesday, April 27, holdings of U. S. Government securities,bought outright were $55 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $35 million lower, and member bank borrowings were $145 million higher. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended Wednesday April 29, April 27, April 20, April 27, I960 1959 I960 I960 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement AcceptancesBought outright Held under repurchase agreement Loans, discounts, and advances— Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 25,444 77 + 27 -207 30 - 1 - 7 524 - 37 1,159 27, 234 19,373 5> 346 51,954 -232 ^55 - 13 + 1 31, 582f 417 553 186 275 857 337571 -246 - 3 -107 18,083 260 18, 343 17,901 442 + 71 - 2 -173 - 7 -537 - 8 TT3 - 15 + 78 - 164 + 77 25, 458 32 30 - 132 18 + 259 + 22 - 957 + 89 T-5%5 545 936 27,C01 19,360 5,347 51,708 + - 338 288 7 85 58 - 279 - 377 31, 5164l8 596 170 299 856 337555 - 468 + 260 17,853 260 18,113 17,894 219 + 282 74 On April 27, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,8l8 million, an increase of $76 million for the week and an increase of $1,232 million ft*cm the comparable date a year ago. 8.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since April 29, April 20, i960 1959 April 27, I960 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 18,112,644 953,826 19,066,470 501,203 413,530 545,307 24,999 1 25,000 + 49,598 + 17,387 + 145,289 m mm «• — - 29,866 1,457,167 8,506,993 55,300 - - 13,010,298 2,483,771 25,458,229 + 25,490,229 + 55,300 35,000 20,300 26,065,402 + 165,039 32,000 Total loans and securities Due from foreign "banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 5,674,571 103,330 343,093 52,167,614 L I A B I L I T I E S Federal Reserve notesDeposits: Member hank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - - - + - 17,853,078 595,853 + + 299,475 18,918,276 4,738,761 43,395 50,908,223 4" 396,753 774,808 87,830 52,167,614 + 168,203 + - + - - • + 43,282 673,966 112,303 19,467 11,539 4 882 164,733 -10;,142,733 +10,142,733 - - + - - 164,733 32,000 132,733 120,316 - - 715, 503 207 19,679 489,007 + 107,960 + 55,900 76,666 35,708 52,665 149,523 543,938 5,662 508,037 362 4- + - - + - - + + - + - - - + 717,248 - - - - 41.3# + + + - - 27,207,791 169,870 - - 550 + - + 18,668 489,007 .1<fo 2,952 - - + 319,237 8,087 128,161 207,027 286,132 525,157 129,994 103,645 35,489 534,297 184,675 11,372 52,118 19,352 93,602 80,659 207,027 1.3# 111,991 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 27, I960 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 537,505 7,799 3 545,307 Acceptances 7,362 22,504 297B55 U. 6. Government securities 308,050 754,767 14, 433,343 8, 544,212 1,178, 574 271,283 25, 490,229 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 27, I960 St. ClevePhilaRichmond Atlanta Chicago Louis New York Boston land delphia (In thousands of dollars) H. 4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis San Dallas Franciscc Kansas City 18,112,644 870,807 5,198,405 1058,369 1594,444 982,377 831,305 3106,048 654,844 327,407 669,300 635,249 2184,089 953,826 57,457 203,655 57,365 84,290 83,988 61,194 178,415 45,164 23,510 44,275 32,345 82,168 19,066,4?0 928,264 5,402,060 1115,734 1678,734 1066,365 892,499 3284,463 700,008 350,917 713,575 667,594 2266,257 F.R. notes of other Banks Other cash 501,203 128,337 72,398 26,822 28,938 413,530 35,671 24,212 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 545,307 16,955 7,950 14,465 18,075 39,097 37,013 25,322 91,542 10,329 18,863 27,051 24,684 12,046 14,517 18,167 62,428 71,431 43,195 49,942 45,815 152,860 21,220 31,087 68,211 33,007 60,600 79,897 249,406 58,895 33,813 62,543 58,724 171,258 713,368 2226,816 525,837 301,904 558,415 524,315 1529,074 32,870 28,584 14,884 51,452 29,866 29,866 78,308 363,464 83,431 125,196 92,232 1,457,167 457,166 2,121,916 487,076 730,895 538,450 8,506,993 13,010,298 699,173 3,245,185 744,918 1117,806 823,487 619,532 142,211 213,398 157,210 2,483,771 133,478 /^r» 1457/636 I. rtiOr? iZlV 1 3 6 8 ' , 125 6,350^097 2187^295 1611,379 25,458,229 t-r-v *r\c 466,447 1456,040 343,827 197,405 365,129 342,832 999,810 136,188 425,117 100,386 57,636 106,606 100,096 291,913 1 OrUT nnA 4357,379 1028,945 IfiOR QliC 590,750 SQA 7C# 1092,693 1fiQOAQQ1025,967 1 1395,900 2992,055 h O C 7 0*7Ci Of\7 9 Q O O 32,000 32,000 Total U. S. Govt, sees. 25,490,229 1368,125 6,382,097 1457,636 2187,2951611,379 1395,900 4357,379 1028,945 590,758 1092, 693 1025,967 2992,055 Total loans & securities 26,065,402 1385,080 6,419,913 1472,101 2230,490 1661,321 1441,715 4510,239 1050,165 621,845 1160,904 1058,974 3052,655 1 1 / 4 1 1 1 1 2 2 / 2 / 1 1 Due from foreign banks Cash items in process of collection Bank premises Other assets 5,674,571 417,129 1,055,895 333,418 487,089 447,884 504,792 867,138 240,037 152,749 297,068 317,453 553,919 4,189 9,742 3,946 9,090 6,476 10,251 18,592 6,924 4,958 4,580 12,654 11,928 103,330 18,332 84,695 19,668 29,783 21,615 19,444 57,651 13,716 7,947 15,620 14,066 40,556 343,093 TOTAL ASSETS 52,167,614 2812,878 13,173,044 2989,765 4503,222 3265,997 2993,114 8838,100 2050,418 1160,791 2225,128 2115,960 6039,197 15 After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 8.4.1(c) Total L I A B I L I T I E S 'ederal Reserve notes Deposits: Member bank reserves U .S .Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERA RESERVE BANK ON APRIL 27, I960 St. ClevePhilaAtlanta Chicago Boston New York Louis land Richmond delphia thousands of dollars) Kansas City Minneapolis San Dallas Francisco 27,207,791 1571,753 6,368,952 1767,743 2488,827 2028,604 1533,568 5156,275 1183,788 600,944 1086,943 777,005 2643,389 17,853,078 743,396 5,285,411 819,500 1431,409 749,774 28,614 61,617 37,940 33,021 45,161 595,853 169,870 6 ' ^ 1:8T1 t l # 299.475 m 911,838 2642,948 592,952 371,088 801,806 926,229 2576,727 41,968 94,700 31,090 26,026 42,099 59,340 94,277 8,684 23,046 5,511 3,841 6,847 9,686 20,541 558 43,652 967 654 706 354 906 18,918,276 780,747 5,641,972 870,076 1481,390 805,050 963,457 2761,348 630,259 401,309 851,658 995,813 2735,197 4,738,761 395,898 792,984 275,898 413,313 372,628 427,625 736,536 192,207 127,980 232,335 269,710 501,647 2,271 11,681 2,284 3,891 2,265 2,203 6,501 1,579 1,334 1,697 1,956 5,733 43,395 50,908,223 2750,669 12,815,589 2916,001 4387,421 3208,547 2926,853 8660,660 2007,833 1131,567 2172,633 2044,484 5885,966 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 396,753 774,808 87,830 19,512 38,332 4,365 113,018 220,905 23,532 23,222 45,638 4,904 36,661 72,530 6,610 20,878 40,306 3I'M 5,155 55,077 107,334 5,077 15,029 %-M 3,401 9,1§1 17,580 2,463 16,645 31,720 4,130 3,878 48,555 95,390 9,286 52,167,614 2812,878 13,173,044 2989,765 4503,222 3265,997 2993,114 8838,100 2050,418 1160,791 2225,128 2115,960 6039,197 -Conting. liab. on acceptj-wxtsj-ga uuxuebpuitutiuuti -LOO ^ uUj OfCH-C. «-/11, ytu y, lijuy v, |-rv VV-*- J 7 v, IV ~ FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,312,047 1632,569 6,712,083 1817,790 2559,444 2104,678 1606,426 5278,295 1234,485 Collat. for F. R. notes: Gold certificate acct. 10,585,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 430,000 —— —— 14,465 •• »• —— 21,220 Eligible paper 103,761 1250,000 4,000,000 1200,000 1750,000 1465,000 1200,000 3700,000 935,000 U. S. Govt, securities 19,245,000 Total collateral 29,933,761 1780,000 6,900,000 1914,465 2670,000 2140,000 1700,000 5600,000 1386,220 1/ After deducting $119,405,000 participations 2/ After deducting $120,263,000 participations of other Federal Reserve Banks. 612,355 1125,060 818,879 2809,983 180,000 300,000 250,000 1300,000 "• 68,076 "** "• 450,000 870,000 625,000 1800,000 630,000 1238,076 875,000 3100,000
@FedFRASER