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H.4.1 BOARD OF GCVEIiNOES OF TEE FEDERAL RESERVE SYSTEM For l u r e d i a t e Release August 11, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD 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 reserves held during the week ended August 10 decreased a net of $84 million t o $18, 509 million; cash allowed as reserves decreased $91 million and member bank reserve balances a t the Federal Re erve Banks increased $7 m i l l i o n . Estimated required reserves decreased $ 9 0 million; and estimated excess reserves increased $ 6 million t o $ 4 9 9 m i l l i o n . Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $206 million, compared with the revised f i g u r e of $178 million the week b e f o r e . The p r i n c i p a l changes supplying average reserve balances with Federal Reserve Banks were increases of $123 million in U. S. Government s e c u r i t i e s held under repurchase agreement and $46 million bought outright, and a decrease of $29 million in foreign deposits with Federal Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were decreases of $68 million in Federal Reserve f l o a t , $49 million in gold stock, and $22 m i l l i o n in member bank borrowings, and an increase of $85 million in money in c i r c u l a t i o n . Total Reserve Bank c r e d i t increased $8l m i l l i o n . )C As of Wednesday, August holdings of U. S. Government s e c u r i t i e s bought outright were $38 million higher than a week e a r l i e r , U. S. Government s e c u r i t i e s held under repurchase agreement were $169 million lower, and member bank borrowings were $73 m i l l i o n lower. Member bank reserves, 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 outright Held under repurchase agreement Loans, discounts, and advances— Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Currency in c i r c u l a t i o n 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 ( n e t ) Member bank r e s e r v e s : With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of d a i l y f i g u r e s Week ended Change from week ended Wednesday, Aug. 10, Aug. 12, Aug. 10, Aug. 3, I960 I960 I960 1959 (In millions of d o l l a r s ) 26,806 293 + 46 +123 + + 209 285 31 1 + 2 + 1 + + 7 1 293 - 22 - 822 28, 246 19,098 5,359 52,704 + + + 68 81 49 3 36 32,129 4o4 452 192 363 894 34,424" + 85 - 5 - 14 - 29 - 8 18,279 230 18,509 18,010 499 4- - + - + + - + 30 — 780 214 51 227 521 77 669 728 27,91% 19,082 5,362 52,360 58 3 23 65 20 319 327 32, l 4 l 409 431 177 373 881 34,413 17,948 230 18,178 17,964 214 — — - + 28 - + 7 - 91 T-SS - 90 + 6 .343 + 230 113 70 43 - 26,808 136 On August 10, i960, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $5,367 million, an increase of $54 million f o r the week and an increase of $1,196 million from the comparable date a year ago. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of d o l l a r s ) Change since Aug. 12, i960 1959 Aug. 10, I960 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves 1 H.4.1(a) 17,804,643 979,909 1^754,552 + - 75,998 24,999 50,999 + F. R. notes of other Banks Other cash 388,579 401,151 - 11,454 6,039 + + Discounts and advances Acceptances--"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 213,537 30,115 + 73,038 1,002 + 2,807,057 8,506,993 13,010,298 44§mti 25B087119 136,000 26,944, 119 Total loans and s e c u r i t i e s Due from foreign "banks Cash items in process of collection Bank premises Other a s s e t s TOTAL ASSETS 27,187,771 15 5,039,625 105, 303 368,188 52,275,184 L I A B I L I T I E S Federal Reserve notes Deposits: Member hank 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 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 Contingent l i a b i l i t y on acceptances purchased f o r foreign correspondents 27,680,814 17,947,507 431,462 176,579 372,561 18,928,109 4,311,558 43,152 50,963,633 401,703 774,808 135,040 52,275,184 - - - - + + - + - + • + - • - 38,450 168,500 130,050 + 211,357 + 134,500 r i M 202,086 . 2k, 002 — 78,4o6 171 20,314 328,499 63,801 360,367 53,357 53,466 14,850 345,626 63,502 2,410 347,737 288 - - - 377,727 7,868 + 211,357 -2,000,000 +2,000,000 + + 35,175 23,698 38,450 —— - 566,499 47,154 519,345 • 351,717 4* 9,118 + 158,199 6b'876T4 - + - - - + - - + - + - 18,950 328,499 w - 79,640 78,835 82,900 98,410 4,686 255,459 338,563 4,291 510,091 20,675 93,602 85,856 668 874 40.3$ 183,730 1,115 + 112,932 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 10, i960 (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.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 206,193 7,245 99 ---213,537 Acceptances 8,222 21,893 ---— 30,115 U. S. Government securities 6,103,090 1,436,136 12,268,389 5,686,647 1,178,574 271,283 26,944,119 H.4.l(t) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH AUGUST 10, I960 FhilaCleveSt. Boston New York delphia Richmond Atlanta Chicago Louis land (in thousands of d o l l a r s ) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves Minneapolis Kansas City Dallas San Francisc 17,804,643 878,554 4,603,721 1040,734 1575,942 1042,373 889,518 3107,305 708,202 351,632 751,996 600,140 2254,526 979,909 60,385 218,655 59,970 86,055 84,040 62,927 179,627 44,135 23,848 43,450 31,675 85,142 18,784,552 938,939 4,822,376 1100,704 1661,997 1126,413 952,445 3286,932 752,337 375,480 795,446 631,815 2339,668 F.R, notes of other Banks Other cash 388,579 401,151 4l,562 29,755 83,6ll 79,858 39,150 20,531 10,690 36,032 24,222 17,913 66,887 36,616 22,555 64,537 11,554 23,814 17,606 8,300 13,898 19,212 13,516 13,285 38,014 56,612 Discounts and advances Acceptances: Bought outright U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 213,537 9,050 25,665 5,465 16,495 11,910 21,336 73,419 3,930 16,197 13,090 14,922 2,058 150,851 700,170 160,721 241,174 177,673 457,166 2,121,916 487,076 730,895 538,450 699,173 3,245,185 744,918 1117,806 823,487 133,478 619,532 142,211 213,398 157,210 1440,668 6,686,803 1534,926 2303,273 1696,820 153,913 466,447 713,368 136,188 1469,916 480,451 1456, o4o 2226,816 425,117 4588,424 113,454 65,137 120,481 343,827 197,405 365,129 525,837 301,904 558,415 100,386 57,636 106,606 1083,504 622,082 1150,631 113,124 342,832 524,315 100,096 1080,367 329,908 999,810 1529,074 291,913 3150,705 30,115 2,807,057 8,506,993 13,010,298 2,483,771 26,808,119 30,115 136.000 136,000 — — —— —— -— —- w „_ Total U. S. Govt, sees. 26.944.119 1440,668 6,822,803 1534,926 2303,273 1696,820 1469,916 4588.424 1083,504 622.082 1150,631 1080,367 3150,705 Total loans & s e c u r i t i e s 27,187,771 1449,718 6,878,583 1540,391 2319,768 1708,730 1491,252 4661,843 1087,434 638,279 1163,721 1095,289 3152,763 Due from foreign "banks 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 15 1 5,039,625 105,303 368.188 347,534 4,086 19,734 1/4 1 1 1 1 2 (2) (2) 1 1 934,998 327,119 398,074 415,426 414,090 783,293 227,079 158,675 264,766 232,439 536,132 9,587 3,878 8,902 6,340 10,586 20,467 6,776 4,933 4,524 13,452 11,772 91,179 20.929 31,992 23.319 20,856 62,255 14,771 8.506 16.714 14.942 42.991 52,275,184 2831,329 12,900,196 3052,703 4467,456 3322, 364 2992,733 8901,884 2123,765 1211,779 2278,282 2014,739 6177,954 1/ After deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks7" 2 / Less than $500. H.4.1(g) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves 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 STATEMEN! OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 10, I960 St. ClevePhilaBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) ~ 27,680,814 1608,722 332,391 Kansas City Dallas San Francisco 6,423,757 1793,146 2517,300 2067,615 1582,123 5228,766 1192,881 599,366 1125,548 802,381 2739,209 17,947,507 793,265 4,951,594 860,473 1420,582 786,824 76,282 22,425 24,225 42,914 431,462 19,589 8,771 1/48,594 10,561 16,826 8,055 176,579 892 "305,043 2,081 772 3,017 372,551 18,928,109 822,517 5,381,513 895,5^0 1462,405~ 840,810 4,311,558 Minneapolis 711,965 285,565 925,134 2728,833 673,957 423,166 820,973 887,075 2675,631 49,765 38,598 41,058 17,091 20,386 46,967 32,162 10,382 22,017 9,308 24,702 5,907 4,117 7,339 939 49,028 1,194 2,134 702 350 6,409 974,23^ 2796,727 697,657 448,019 881,688 930,558 2796,441 363,199 349,902 365,071 683,674 187,290 133,165 214,489 206,628 478,219 3,836 2,351 2,105 6,632 1,532 1,252 1,670 1,698 4,590 2^146 13,033 ,301 M 4 S 50,963,633 2765,937 12,530,268 2976,397^346,7*40 3260,678 2923,533 8715,799 2079,360 1181,802 2223,395 1941,265 6018,459 CAPITAL ACCOUNTS C a p i t a l paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r foreign correspondents 401,703 774,808 135,040 19,915 38,332 7,145 114,198 220,905 34,825 23,395 45,638 7,273 37,247 72,530 10,939 18,285 34,566 8,835 2i,i64 55,860 40,306 107,334 7,730 22,891 13,421 25,862 5,122 9,221 17,580 3,176 16,809 31,720 6,358 23,133 44,645 5,696 49,055 95,390 15,050 52,275,184 2831,329 12,900,196 3052,703 4467,456 3322,364 2992,733 8901,884 2123,765 1211,779 2278,282 2014,739 6177,954 183,730 9,001 2/52,385 10,838 17,268 8,266 9,552 25,351 6,062 4,225 7,532 10,655 22,595 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. notes outstanding 23,624,923 1674,335 C o l l a t . f o r F . R. notes: Gold c e r t i f i c a t e a c c t . 10,465,000 530,000 E l i g i b l e paper 22,385 U. S. Govt, s e c u r i t i e s 19,280,000 1250,000 Total c o l l a t e r a l 29,767,385 1780,000 _l/ A f t e r deducting $127,985,000 p a r t i c i p a t i o n s 2/ A f t e r deducting $131,345,000 p a r t i c i p a t i o n s 6,672,003 1833,525 2617,510 2132,985 1644,834 5329,602 1233,948 614,398 1152,568 839,868 2879,347 2,800,000 700,000 920,000 675,000 500,000 1900,000 410,000 5,465 — -— -3,930 4,000,000 1200,000 1750,000 1500,000 1200,000 3700,000 935,000 Z}800,000 1905,465 2670,000 2175,000 1700,000 5600,000 1348,930 of other Federal Reserve Banks. of other Federal Reserve Banks. 180,000 300,000 250,000 1300,000 — 12,990 450,000 870,000 625,000 1800,000 630,000 1182,990 875,000 3100,000
@FedFRASER