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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release August 4, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAH CREDIT, AMD 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 3 increased a net of $23 million to $18,575 million; cash allowed as reserves decreased $30 million and member bank reserve balances at the Federal Reserve Banks increased $53 million. Estimated required reserves increased $5 million; and estimated excess reserves increased $18 million to $486 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $171 million, compared with the revised figure of $117 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $238 million in U. S. Government securities bought outright and $93 million held under repurchase agreement. The principal offsetting changes were decreases of $197 million in Federal Reserve float. $44 million in gold stock, and $36 million in member bank borrowings. Total Reserve Bank credit increased $100 million. As of bought outright securities held bank borrowings Wednesday, August 3, holdings of U. S. Government securities were $108 million higher than a week earlier, U. S. Government under repurchase agreement were $282 million higher, and member were $6 million higher. 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 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) Averages of daily figures Week ended Change from week ended Wednesday, August 3, July 27, August 5, August 3, I960 i960 i960 1959 (In millions of dollars) 26,760 170 29 +238 + 93 + 1 +319 + 62 + 4 315 - 36 -719 «. — 890 28,165 19,147 5,356-* 52,668- cl 32,044- 0 4o 9- % 466 221 371 884 34,39^7 + 3 18,272 303 18,575 18,089 486 + + + + 53 30 23 5 18 -197 +100 - 44 - 1 + 56 + 3 + 4 - 22 + 19 - 2 mm w. 26,770 304 29 287 «- — +100 -234 -479 + 75 -638 +122 + 6 - 37 - 56 + 31 -282 743 28,133 19,144 5,357 52,634 32,062 413 378 230 358 885 34,326 -424 +303 -121 -207 + 86 18,308 303 18,611 18,156 455 On August 3, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,313 million, an increase of $58 million for the week and an increase of $1,155 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 July 27, ~ August 5, ' I960 1959 August 3, I960 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 17,880,641 954,910 18,835,551 . - 20,000 2,993 22,993 + 34,792 7,340 + - F. R. notes of other Banks Other cash 400,033 407,190 Discounts and advances 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 286,575 29,113 13,010,298 2,483,771 267769,6^9 304,500 27,074,169 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,389,857 15 5,118,031 105,132 347,874 52,603,683 + + 176 19,933 267,159 66,158 2,768,607 + + 6,068 1,000 + 107,700 4" 8,506,993 — + 26,583 344,143 4,613 252,207 2,000,000 + 2,000,006 + - - + + + 107,700 282,500 390,200 397,268 4- + + 4- ~ + 18,307,874 378,105 230,045 357,711 19,273,735 4,375,060 45,562 51,311,370 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 401,415 774,808 116,090 52,603,683 + 252,207 268,600 520,w 181,275 -- -- 27,617,013 40.2% • 48,044 - — *• 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 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents + 515,501 20,646 494,855 99,431 + 444- 308,589 8,976 155,321 233,933 + 68,048 + 4- 71,379 - - 267,606 122,289 •f 26,492 3,922 + 167,887 + 11,345 + 2,847 + ""2413723 7 275 4" - 182,615 4* 44r 44- 4- - — * + - 18,637 267,149 - 8,806 47,020 23,644 39,197 278,961 8,684 394,890 20,543 93,602 87,898 4- 233,933 .2$ - 1.1$ 4,890 4- 109,596 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 3, 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 277,195 9,251 129 206,575 23,260 U. S. Government securities 6,247,9^0 1,414,336 12,275,389 5,686,647 1,178,574 29,113 27,0757159 Acceptances 5,853 271,283 STATEMENT OF C0NDIT]CON OF EACH FEDERAL RESERVE BANK ON AUGUST 3, I960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis H.4.1(b) Total Minneapolis Kansas City- San Dallas Francisco ASSETS Gold certificate account 17,880,641 876,172 4,563,616 1020,263 1661,796 1027,578 859,300 3139,156 722,329 356,935 713,951 672,820 2266,725 Redemption fund for F. R. notes 193,655 59,970 86,055 84,o4l 62,927 179,627 44,135 23,848 43,450 31,675 85,142 954,910 60,385 Total gold certificate reserves 18,835,551 936,557 4,757,271 1080,233 1747,851 1111,619 922,227 3318,783 766,464 380,783 757,401 704,495 2351,867 F.R. notes of other Banks Other cash 41,413 30,456 83,710 78,359 37,691 20,661 15,347 37,816 24,671 19,761 67,069 37,615 23,679 65,403 11,032 24,928 20,745 8,588 17,935 14,714 15,464 14,110 41,277 54,779 Discounts and advances 7,000 3,300 286,575 Acceptances: Bought outright 29>113 29,113 U.S. Govt, securities: Bought outright— 2,768,607 148,785 690,579 Bills 8,506,993 457,166 2,121,916 Certificates 13,010,298 699,173 3,245,185 Notes 619,532 2,483,771 133,478 Bonds Total 26,769,669 1438,602 6,677,212 Held under rep. agree. 304,500 5,170 5,665 13,876 23,966 145,099 4,180 7,782 49,015 15,914 5,608 400,033 407,190 - - Total U. S. Govt, sees, " 158,519 487,076 744,918 142,211 1532,724 237,870 730,895 1117,806 213,398 2299,969 175,239 538,450 823,487 157,210 1694,386 -- " 151,805 473,870 466,447 1456,040 713,368 2226,816 136,188 425,117 1467,808 4581,843 111,900 64,245 118,831 111,575 325,389 343,827 197,405 365,129 342,832 999,810 525,837 301,904 558,415 524,315 1529,074 100,386 57,636 106,606 100,096 291,913 1081,950 621,190 1148,981 1078,818 3146,186 27,074,169 1438,602 6,981,712 1532,724 2299,969 1694,386 1467,808 4581,843 1081,950 621,190 1148,981 1078,818 3146,186 Total loans & securities 27,389,857 1445,602 7,014,125 1537,894 2305,634 1708,262 1491,774 4726,942 1086,130 628,972 1197,996 1094,732 3151,794 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 1 / 4 5,118,031 362,093 105,132 4,086 347,874 18,591 1 1 1 1 2 (2) (2) 1 1 2 964,143 335,665 439,900 402,754 413,657 798,968 212,638 149,668 257,002 228,345 553,198 9,587 3,878 8,890 6,340 10,585 20,467 6,776 4,933 4,524 13,294 11,772 85,805 19,784 30,433 21,977 19,782 58,747 13,960 8,028 15,851 14,103 40,813 52,603,683 2838,799 12,993,004 3035,807 4585,872 3295,385 2962,710 9012,991 2121,928 1201,717 2265,424 2084,544 6205,502 JL./ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. E,4.1(c) Total LIABILITIES Federal Reserve notes Deposits: Member bank reserves U-S.Trees.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMc^!] OF CONDITION OF EACH FEDERAL RESERVE BANK OH AUGUST 3, 19&0 Phila- CleveSt. Boston New York delphia land Richmond Atlanta Chicago Louis Minneapolis Kansas City San Dallas Franciscc 27,617,013 1608,080 6,424,554 1791,661 2506,419 2059,040 1571,740 5223,197 1188,057 599,028 1120,408 797,227 2727,602 18,307,874 795,183 5,036,816 837,052 1495,405 781,853 922,388 2831,710 650,822 410,558 855,840 968,280 2721,967 378,105 21,249 45,563 27,145 50,180 41,652 18,840 43,211 16,377 24,247 27,678 31,979 29,984 230,045 10,878 1/71,315 13,098 20,868 9,990 11,544 30,636 7,326 5,106 9,102 12,876 27,306 357,711 423 299,365 2,279 1,403 3,303 1,161 669 992 593 1,777 706 45,040 19,273,735 "827,733 5,^53;059 B79,574 1567,056 036,79% 953,933 2906,226 675,517 440,504 894,397 1013,841 2824,297 4,375,060 336,241 735,392 287,242 388,461 336,745 366,671 693,865 213,155 131,358 194,860 199,165 491,905 2,341 45,562 15,123 2,110 3,946 2,279 2,190 7,116 1,525 1,245 1,702 1,595 4,390 51,311,370 27747395" 12762ff;i28~29bO,507 4466,682 3234,862 2894,334 8030,404 2078,25%" 1172,135 2211,36? 2011,828 6048,194 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 401,415 774,808 116,090 19,915 38,332 6,157 114,016 220,905 29,955 23,385 45,638 6,197 37,243 72,530 9,417 18,277 34,566 7,680 21,131 55,851 40,306 107,334 6,739 19,402 13,413 25,862 4,399 9,221 17,580 2,781 16,807 31,720 5,530 23,103 44,645 4,968 49,053 95,390 12,865 52,603,683 2838,799 12,993,004 3035,807 4585,872 3295,385 2962,710 9012,991 2121,928 1201,717 2265,424 2084,544 6205,502 182,615 8,947 2/52,056 10,773 17,164 8,217 9,495 25,199 6,026 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding " 287^357577 1676,141 6,6817532~185T,023 2606,947 2132,464 1639,265 5331,630 1237,988 Collat. for F. R. notes: Gold certificate acct. 10,565,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 Eligible paper —— —— 5,170 —— —— —— —— 4,180 58,265 U. S. Govt, securities 19,180,000 1250,000 3,900,000 1200,000 1750,000 1500,000 1200,000 3700,000 935,000 Total collateral 29^6X255 1780,000 6,800,000 1905,170 2670,000 2175,000 1700,000 5600,000 1349",180 _l/ After deducting "^155","730000 participations of other Federal Reserve Banks! _2/ After deducting $130,559,000 participations of other Federal Reserve Banks. 4,200 7,487 10,591 22,460 614,821 1149,562 845,033 2879,071 180,000 300,000 250,000 1300,000 —— 48,915 —— —450,000 870,000 625,000 1800,000 630,000 1218,915 875,000 3100,000
@FedFRASER