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H.4.1
BOARD 01' GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
For Immediate Release
August 18, 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 August 17 remained unchanged at $18,524 million; cash allowed as
reserves increased $36 million and member bank reserve balances at the Federal
Reserve Banks decreased $36 million. Estimated required reserves decreased
$32 million; and estimated excess reserves increased $32 million to $534 million.
Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by
$118 million, compared with the revised figure of $209 million the week before.
The principal changes reducing average reserve balances with Federal
Reserve Banks were decreases of $64 million in U. S. Government securities held
under repurchase agreement and $59 million in gold stock, and increases of
$103 million in Treasury deposits with Federal Reserve Banks and $55 million in
currency in circulation. The principal offsetting changes were increases of
$154 million in Federal Reserve float and $123 million in member bank borrowings.
Total Reserve Bank credit increased $223 million.
As of Wednesday, August 17, holdings of U. S. Government securities
bought outright were $25 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $115 million higher, and member bank
borrowings were $262 million higher. Holdings of notes decreased $5,500 million
and certificates increased a like amount, reflecting an exchange of notes maturing
August 15 for the new 3 l/8 per cent certificates.
Member bank reserves,
Reserve Bank credit,
and related items
Reserve Bank credit:
U. S. Government securities—
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 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)
I960
26,812
229
31
4
4l6
w
mm
I960
1959
(][n millions of dollars)
+ 6
- 64
+
3
+123
— —
976
28,469
19,039
5,363
52,871
+154
+223
- 59
+ 4
32,184
409
555
190
+ 55
+ 5
+103
- 2
+ 23
+ 20
386
904
34,628
18,243
281
+167
O
OJ
4-
Member bank reserves:
With Federal Reserve Banks
Cash allowed as reserves (estimated)
Total reserves held
Required reserves (estimated)
Excess reserves (estimated)
Averages of daily figures
Week ended Change from week ended Wednesday,
Aug. 10,
Aug. 19, Aug • 17,
Aug. 17,
- 36
+ 36
--
17,990
534
- 32
+ 32
+287
+223
I960
26,833
251
^
9
32
17
-529
476
+
+
— «•»
- 89
- 93
-562
+ 81
-57^
— -
1,026
28,636
19,032
5,364
53,031
+133
+ 12
- 83
- 66
+ 37
-342
-309
32,138
410
547
192
-266
18,365
281
+281
+ 15
- 88
+103
362
1,016
34,606
10,646
18,029
617
On August 17, i960, U. S. Government securities held in custody by the
Federal Reserve Banks for foreign account were $5,4o4 million, an increase of
$37 million for the week and an increase of $1,196 million from the comparable
date a year ago.
H.4.1(a)
STATEMENT OF CONDITION
OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
Change since
Aug. 19,
Aug. 10,
I960
1959
Aug. I?,
ASSETS
Gold certificate account
Redemption fund for F. R. notes
Total gold certificate reserves
F. R. notes of other Banks
Other cash
Discounts and advances
Acceptances:
Bought outright
Held under repurchase agreement
U. S. Government securities:
Bought outright—
Bills
Certificates
Notes
Bonds
Total bought outright
Held under repurchase agreement
Total U. S. Government securities
Total loans and securities
Due from foreign banks
Cash items in process of collection
Bank premises
Other assets
TOTAL ASSETS
LIABILITIES
Federal Reserve notes
Deposits:
Member bank reserves
U. S. Treasurer—general account
Foreign
Other
Total deposits
Deferred availability cash items
Other liabilities and accrued dividends
TOTAL LIABILITIES
CAPITAL
ACCOUNTS
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
I960
52,000
2,202
54,202
618,499
46,913
571,586
24,209
21,635
47,852
17,752,643
977,707
18,730,350
407,620
408,016
476,240
+
+
+
262,703
32,109
17,101
+
+
1,994
17,101
+
+
+
24,700
+5 ,500,000
-5,500,000
+
+
+
+
24,700
115,100
139,800
+
+
+
339,557
208,200
547,757
+
421,598
+
528,561
2,831,757
14,006,993
7,510,298
2,483,771
26,832,819
251,100
27,083,919
27,609,369
15
6,136,580
-
19,041
6,865
-
+
-
+
+
-
11,555
17,101
339,557
+3 ,500,000
-3,500,000
- —
- -
105,881
170,772
53,568,603
+1,096,955
•4*
578
197,416
+1,293,419
+
+
+
404,447
8,939
47,869
464,074
27,699,194
+
18,380
+
122,288
18,365,060
+
+
+
417,553
115,913
15,474
10,536
538,404
798,823
+
+
247,608
30,437
66,738
17,470
228,777
345,963
5,443
702,471
547,375
192,053
362,025
129
+1,355,478
213
+
19,466,513
5,110,381
43,023
+
+
401,916
774,808
72,768
53,568,603
+
52,319,111
-
— —
-
-
62,272
+1,293,419
M70
39-7$
194,531
-
+
+
+
+
+
-
+
10,801
-
+
20,109
93,602
164,904
464,074
1.:
+ 120,116
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 17, 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
470,109
5,959
92
-—
—
476,240
Acceptances
25,105
24,105
—
-—
-49,210
U. S. Government
securities
690,650
6,467,876
12,788,889
5,686,647
1,178,574
271,283
27,083,919
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 17, I960
St.
Phila- CleveBoston New York delphia land IRichmond Atlanta Chicago Louis
H.4,1(b)
Total
Minneapolis
Kansas
City
San
Dallas Francisco
ASSETS
Gold certificate account 17,752,643 914,719 4,484,962 996,358 1541,148 979,171 875,986 3237,360 708,493 370,525 758,546 692,936 2192,439
Redemption fund for
217,735 59,592 86,658 83,084 62,572 179,204 44,022 23,782 43,368 32,609 84,953
977,707 60,128
F. R. notes
Total gold certificate
18,730,350 974,847 4,702,697 1055,950 1627,806 1062,255 938,558 3416,564 752,515 394,307 801,914 725,545 2277,392
reserves
88,883
80,670
38,639
20,413
13,678
36,173
24,703
19,420
67,675
35,802
20,928
64,775
12,096
24,313
18,412
7,706
19,874
13,657
12,783
14,214
43,540
60,708
128,035
Discounts and advances
476,240 11,975
Acceptances:
32,109
32,109
Bought outright
17,101
17,101
Held under rep. agree.
U. S. Govt, securities:
Bought outright—
Bills
706,331
2,831,757 152,179
Certificates
14,006,993 752,736 3,493,792
Notes
7,510,298 403,603 1,873,309
619,532
Bonds
2,483,771 133,478
Total
26,832,819 1441,996 6,692,964
Held under rep. agree.
251,100
251,100
8,525
39,300
46,252
36,050 136,539
4,300
10,582
29,730
11,806
13,146
F.R. notes of other Banks
Other cash
Total U. S. Govt, sees.
407,620
408,016
46,409
30,165
—
162,135
801,984
430,010
142,211
1536,340
243,296
1203,439
645,262
213,398
2305,395
179,236
886,573
475,364
157,210
1698,383
155,267 484,679
768,017 2397,409
411,798 1285,447
136,188 425,117
1471,270 4592,652
114,452 65,711 121,541 114,120 332,810
566,121 325,032 601,194 564,482 1646,2l4
303,543 174,277 322,350 302,665 882,670
100,386 57,636 106,606 100,096 291,913
1004,502 622,656 1151,691 1001,363 3153,607
27,083,919 1441,996 6,944,064 1536,340 2305,395 1698,383 1471,270 4592,652 1084,502 622,656 1151,691 1081,363 3153,607
Total loans & securities 27,609,369 1453,971 7,121,309 1544,865 2344,695 1744,635 1507,320 4729,191 1088,802 633,238 1181,421 1093,169 3166,753
(2)
(2)
Due from foreign banks
Cash items in process
of collection
Bank premises
Other assets
6,136,580 416,555 1,185,085 374,080 513,748 485,098 489,329 964,267 249,811 183,528 322,427 288,228 664,424
4,086
9,587
3,878
8,903
6,340 10,658 20,955
6,777
4,954
4,524 13,456 11,763
105,881
9,123
41,787
9,594
14,832
10,717
10,017
28,392
6,772
3,965
8,273
7,195 20,105
170,772
TOTAL ASSETS
53,568,603 2935,157 13,230,022 3047,420 4559,836 3353,169 3059,360 9245,074 2i4l,o86 1246,110 2352,091 2154,591 6244,687
15
1/ 4
1/ After deduc?Llng $11,00b participations* of"other Federal Reserve Banks.
2/ Less than $500.
H.4.1(c)
Total
LIABILITIES
Federal 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 CONDIT]CON OF EACH FEDERAL RESERVE BAMC ON AUGUST 17,, I960
St.
Phila- Cleve- J . .
Boston New York delphia land {Richmond Atlanta Chicago Louis
San
Francisco
Minneapolis
27,699,194 1605,238 6,427,700 1791,854 2523,886 2072,643 1584,255 5238,649 1193,976 599,114 1125,777 806,253 2729,849
18,365,060 831,479 5,093,064 835,103 1410,065 766,153 946,461 2912,387 672,447 429,993 862,875 962,5# 2642,509
108,088 20,721 38,491 36,939 28,801 65,983 27,824 29,679 51,202 44,168 62,850
547,375 32,629
8,771 1/64,068 10,561 16,826
8,055
9,308 24,702
5,907
4,117
7,339 10,382 22,017
192,053
2,649 "300,588
1,611
1,312
2,692
1,131
1,759
778
323
4,406
808 43,968
362,025
875,528
5,565,808
867,996
1466,694
813,839
985,701
3004,831
706,956
464,112
925,822
1017,882
2771,344
19,466,513
5,110,381 389,975
870,022 312,802 450,015 406,731 421,321 819,429 196,732 152,755 246,4l4 257,573 586,612
2,362
12,822
2,036
3,663
2,341
2,199
6,517
1,482
1,523
1,674
1,815
4,589
43,023
52,319,111 2873,103 12,876,352 2974,688 4444,258 3295,554 2993,476 9069,426 2099,146 1217,504 2299,667 2063,523 6092,394
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other capital accounts
TOTAL LIABILITIES AND
CAPITAL ACCOUNTS
Conting. liab. on acceptances purchased for
foreign correspondents
401,916
774,808
72,768
19,925
38,332
3,797
114,212
220,905
18,553
23,404
45,638
3,690
37,248
72,530
5,800
18,292
34,566
4,757
21,266 55,864
40,306 107,334
4,312 12,450
13,428
25,862
2,650
9,228
17,580
1,798
16,856
31,720
3,828
23,136
44,645
3,287
49,057
95,390
7,846
53,568,603 2935,157 13,230,022 3047,420 4559,836 3353,169 3059,360 9245,074 2141,086 1246,110 2352,091 2154,591 6244,68?
194,531
9,530
2/55,464
11,475
18,283
8,752
10,114
26,841
6,4l8
4,474
7,975
11,281
23,924
FEDERAL RESERVE AGENTS' ACCOUNTS
28,679,339 1680,560 6,667,299 1834,932 2623,761 2140,676 1645,716 5340,228 1234,967 613,416 1154,656 052,708 2090,340
F. R. notes outstanding
Collat. for F. R. notes:
Gold certificate acct. 10,465,000 530,000
——
42,505
Eligible paper
U. S. Govt, securities 19,280,000 1250,000
Total collateral
29,787,505 1780,000
l/ After deducting $127,$35,000 part:Lcipations
2/ After deducting $139,0157,000 part:Leipations
2,800,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000
——
8,525
——
——
-—
——
4,300
——
29,680
——
——
4,000,000 1200,000 1750,000 1500,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000
6,800,000 1908,525 2670,000 2175,000 1700,000 5600,000 1349,300 630,000 1199,660 875,000 3100,000
of other Federal Reserve Banks.
of other Federal Reserve Banks.
@FedFRASER