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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release July l4, 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 July 13 decreased a net of $l4 million to $18, 308 million; cash allowed as reserves increased $24 million and member bank reserve balances at the Federal Reserve Banks decreased $38 million. Estimated required reserves decreased $127 million; and estimated excess reserves increased $113 million to $551 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $210 million; the revised figure of excess reserves for the week before was $2 million less than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $99 million in member bank borrowings and $40 million in gold stock, and an increase of $206 million in currency in circulation. The principal offsetting changes were increases of $60 million in Federal Reserve holdings of U. 8. Government securities and $98 million in Federal Reserve float, and a decrease of $95 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $57 million. As of Wednesday, July 13, holdings of U. S. Government securities bought outright were $58 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $68 million lower, and member bank borrowings were $78 million lower. 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 July 13, July 6, July 15, July 13, i960 i960 I960 1959 (3in millions of dollars) 26,517 96 28 + 26 + 34 - 3 341 - 99 + + 134 15 2 +~17 661 18 + 216 3^2 413 + 73 681 32,361 4o6 422 214 380 935 34,718 +206 + — — - - 95 - 12 - 19 - 23 +33 + 18,o4l 267 18,308 17,757 551 - 38 + 24 - l4 -127 +113 - - 1,138 287120 19,282 5,356 52,758" — «• + 98 + 57 - 40 — — 26, 478 36 28 453 - - - + - + - + * ** 1,043 28,038 19,253 5,357 52,648 167 13 28 55 42 250 82 32,253 406 475 179 373 879 34,566 599 267 332 472 l4o 18,082 267 18,349 17,768 581 On July 13, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,142 million, an increase of $70 million for the week and an increase of $1,075 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 15, July 6, i960 1959 July 13, I960 ASSETS Cold certificate account Redemption fund for F. R. notes Total gold certificate reserves 17,998,645 953,825 18,952,470 F» R. notes of other Banks Other cash 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. 8. 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 353,372 366,993 452,926 27,611 „ 93,996 17,445 76,551 + - 459,499 21,1.04 438,395 76,374 22,466 77,819 613 + + + 45,281 7,833 327,348 2,215 58,200 + 95,167 -10,142,733 +10,142,733 58,200 67,800 + + 957157 - 204,432 - 229,466 - 483,609 + - + + - 2,477,067 8, 506,993 13,010,298 2,483,771 26,47"S7r29 36,000 26,5157129 26,994,666 15 5,925,653 - - 126,000 761,941 459 21,470 + 601,727 500 95,667 105,201 + + + 27,721,877 - 16,538 + 109,670 18,082,333 475,4l8 178,757 - 126,866 + 150,375 - 88,340 + 37,373 51,751,655 417,296 53,435 61,191 37,506 387,546 517,248 1,489 793,635 288,234 52,9557555 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 372,660 19,109,158 4,882,626 400,651 774,808 60,101 52,986,604 + 8,820 + 74,921 - "l, 014,615 + - 63,553 + 737,840 + 558 + 658,307 1,278 + + - + 461 + - 57,04l + 601,727 20,025 93,602 - 147,403 - 1,014,615 2,148 107,094 bo.% 181,187 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 13, 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 442,795 10,0$4 77 — --452,926 Acceptances 57558 22,1^3 — -~~ 27,611 U• S• Government securities 457,610 6,751* 036 12,1°8,9f9 5,686,647 1,178,574 271,283 26,514,129 H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BARK ON JULY 13, i960 Phila- CleveSt. Boston New York delphia land Richmond Atlanta Chicago Louis (in thousands of dollars) Total ASSETS Minneapolis Kansas City Dallas San Francisco Gold certificate account 17,998,645 960,650 4,530,074 998,746 1590,059 1039,623 904,084 3225,280 712,054 390,040 679,371 664,853 2303,811 Redemption fund for F. R. notes 953,825 58,738 195,392 60,514 85,605 85,766 58,447 180,254 44,315 23,952 43,583 31,772 85,487 Total gold certificate reserves 18,952,470 1019,388 4,725,466 1059,260 1675,664 1125,389 962,531 3405,534 756,369 413,992 722,954 696,625 2389,298 F.R. notes of other Banks Other cash 353,372 366,993 24,609 23,432 86,415 74,395 24,752 16,768 13,371 32,369 20,737 17,697 60,858 35,619 23,564 61,259 11,016 21,389 11,485 7,714 18,846 13,814 16,723 14,051 40,996 48,486 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 452,926 9,850 187,205 19,875 33,540 10,381 39,025 98,528 2,050 15,956 15,811 18,971 1,734 27,611 2,477,067 8,506,993 13,010,298 2^83,771 26,478,129 36,000 27,611 133,118 617,860 141,827 212,822 156,786 135,819 423,971 100,116 57,480 106,318 99,826 291,124 457,166 2,121,91.6 487,076 730,895 538,450 466,447 1456,040 343,827 197,405 365,129 342,832 999,810 699,173 3,245,185 744,918 1117,806 823,487 713,368 2226,816 525,837 301,904 558,415 524,315 1529,074 133,478 619,532 142,211 213,398 157,210 136,188 425,117 100,386 57,636 106,606 100,096 291,913 1^22,935 ' 6,6o47493 "1516,032 2274,921 1675,933 1451,822 4531,944 1070,166 614,425 1136,468 1067,069 3111,921 -- 36,000 Total U« S-. Govt, sees. 26,514,129 1422,935 6,640,493 1516,032 2274,921 1675,933 1451,822 4531,944 1070,166 6l4,425 1136,468 1067,069 3111,921 Total loans & securities 26,994,666 1432,785 6,855,309 1535,907 2308,461 1686,314 1490,847 4630,472 1072,216 630,381 1152,279 1086,040 3113,655 Due from foreign banks Cash items in process of collection Bank premises Other assets 5,925,653 420,582 1,087,259 365,348 490,730 463,144 501,388 920,030 257,874 171,157 315,218 276,397 656,526 105,201 4,120 9,628 3,901 8,965 6,385 10,617 20,138 6,817 4,961 4,538 13,309 11,822 288,234 15,317 70,944 16,365 25,336 18,211 16,430 48,501 11,474 6,659 13,327 11,704 33,966 TOTAL ASSETS 52,986,604 2940,234 12,909,420 3022,302 4554,897 3337,878 3078,291 9109,500 2137,155 1246,349 2240,977 2114,850 6294,751 15 1 1 / 4 1 1 1/ After deducting %L1,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 1 2 (2) (2) 1 1 2 H.4.1(c) Total STATEMENT OF C0NDIT3CON OF EACH FEDERAL RESERVE BANK ON JULY 13, JI960 Phila- CleveSt. Boston New York delphia land Richmond Atlanta |Chicago Louis Minneapolis Kansas City _ .. | San Dallas |i?rGnciSCC LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.8.Treas.-gen*acct. Foreign. Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,721,877 1623,898 6,436,705 1802,725 2516,346 2061,086 1572,833 5238,578 1194,333 607,325 1121,236 795,414 2751,398 18,082,333 821,685 4,951,863 803,450 1439,622 773,757 952,424 2815,795 651,539 44l,8l5 785,076 954,926 2690,381 475,418 38,767 40,660 34,126 33,598 41,176 40,693 54,085 30,465 19,121 28,985 32,155 81,587 8,330 1/57,207 10,030 15,980 7,650 8,84o 23,460 5,610 3,910 6,970 9,860 20,910 178,757 372,660 696 313,247 1,356 666 4,407 1,475 818 321 301 708 770 47,895 19,109,168 "1&97478 5,362,977 34'3,902 1489,866 526,990 1003,432 2094,15b 607,935 465,147 021,739 997,711 2040,773 4,882,626 383,219 749,772 296,654 430,749 390,694 435,150 797,816 211,952 144,4o8 244,714 249,730 547,768 2,098 9,552 1,989 3,677 2,115 1,845 6,484 1,400 1,057 1,591 1,532 4,033 37,373 51,751,044 2878,693 12,559,006 2950,330 4440,638 3280,885 3013,260 8937,036 2095,620 1217,937 2109,200 2044,307 6143,97% CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 400,651 774,808 60,101 19,919 38,332 3,290 113,850 220,905 15,659 23,353 45,638 2,981 37,220 72,530 4,509 18,262 34,566 4,165 21,084 55,670 40,306 107,334 3,641 9,460 13,403 25,862 2,270 9,212 17,580 1,620 16,739 31,720 3,238 23,048 44,645 2,770 48,891 95,390 6,498 52,986,604 2940,234 12,909,420 3022,302 4554,897 3337,878 3078,291 9109,500 2137,155 1246,349 2240,977 2114,850 6294,751 181,187 8,879 2/51,629 10,691 17,033 8,154 9,422 25,005 5,979 4,168 7,429 10,510 22,288 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,734,829 1664,666 Collat. for F. R. notes: Gold certificate acct. 10,565,000 530,000 Eligible paper -37,636 U. S. Govt, securities 19,180,000 1250,000 Total collateral 29,7827535 1780,000 1/ After deducting *121,550,000 participations 2/ After deducting $129,558,000 participations 6,709,461 1859,163 2617,190 2132,847 1640,126 5357,958 1238,798 619,830 1154,658 842,317 2897,815 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000 -19,875 -——— -2,050 -— 15,711 --3,900,000 1200,000 1750,000 1500,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000 6,800,000"1919,875 2670,000 2175,000 1700,000 5600,000 1347,050 630,000 1185,711 875,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER