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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release June 2, 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 June 1 decreased a net of $59 million to $18,107 million, which reflected in part a decrease of $62 million in member bank reserve "balances at the Federal Reserve Banks. Estimated required reserves decreased $29 million; and estimated excess reserves decreased $30 million to $415 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $21 million; the week before they were $43 million (revised from $21 million) less than excess reserves. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $168 million in Federal Reserve float, and increases of $127 million in currency in circulation and $100 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $223 million in U. S. Government securities bought outright and $34 million in member bank borrowings, and a decrease of $79 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $89 million. As of Wednesday, June 1, holdings of U. S. Government securities bought outright were $319 million higher than a week earlier and member bank borrowings were $54 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 June 1, June 3, June 1, May 25, I960 I960 I960 19 L 9 (In millions of dollars) 26,037 -29 25,941 27 30 +223 436 + 34 - 1 -168 + 89 - 1 - 1 + 87 413 17 + 140 - 223 - 836 + 77 - 982 854 27,240 19,352 5,349 51,941 3i,8i-r3 . +127 415- M" + 166 - 286 - 80 - 91 + 14 186 464 31,905 430 460 214 360 1,031 34,400 518 301 217 17,541 301 17,842 17,737 105 «•» — 993 27,427 19,352 5,349 52,128 - - -e. 468 206 390 1,033 34,322 - 79 + 4 +100 - 1 17,806 301 18,107 17,692 415 - 62 +149 + 3 - 59 - 29 - 30 + + + 36 27 3 321 - - - - + - - 329 + 1:2 — — On June 1, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,864 million, an increase of $43 million for the week and an increase of $1,103 million from the comparable date a year ago. H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) 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 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 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS LIABILITIES Federal Reserve notesDeposits: 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 Industrial loan commitments Change since May 25, June 3> i960 1959 June 1, I960 18,115,645 943,060 19,058,705 342,933 346,486 320,927 - — - + 26,036,629 61,926 29,395 53,943 318,700 - - 50,280,241 398,079 774,808 105,704 51,558,832 576,249 30,008 546,241 47,295 6,924 410,344 2 2,471 132,067 -10,142,733 +10,142,733 + mm -m • + 44,506 - 26,386,422 17,5^1,026 460,051 213,748 359,819 18,574,644 4,278,767 + + 26,036,629 27,382,324 - - «• 4* 318,700 300 + 318,400 15 5,132,268 104,192 187,811 51,558,832 - + - - — - 13,010,298 2,483,771 2 + 28,866 2,035,567 8,506,993 2 + •» + 132,067 + 132,067 -- 264,457 275,808 - - + + 124,018 + + 124,903 274 22,016 69,977 4- 33,211 615,883 + 171,572 + 190,523 - 557,738 •» - + + - + + 13,006 43,941 3,194 67,637 7,496 128,848 1,020 51,240 148 + - - + + 41.5# - 162,529 - - - • ~ - + + - + - 18,589 69,977 .1# 6,087 " - - - + - 8,566 14,291 140,226 30,980 7^3,235 81,660 6,128 464,924 19,771 93,602 77,128 615,883 .7% 82,896 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 1, 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 309,115 11,695 11? ---320,927 Acceptances 6,300 22,566 — ---28,866 U. S. Government securities 284,060 6,681,846 11,934,219 5,686,647 1,178,574 271,283 26,036,629 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JUKE 1, i960 St. I Phila- CleveRichmond Atlanta Chicago Louis Boston New York | d e l p h i a land (In thousands of dollars) E.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis 1 San Dallas Francisco Kansas City 18,115,645 816,947 5,152,444 966,106 1488,489 979,219 831,014 3235,498 679,366 318,981 684,934 555,482 2407,165 943,060 56,837 200,502 58,335 83,326 80,659 60,215 177,298 44,860 23,294 44,016 32,128 81,590 19,058,705 873,784 5,352,946 1024,441 1571,815 1059,878 891,229 3412,796 724,226 342,275 728,950 587,610 2488,755 F.R. notes of other Banks Other cash 342,933 346,486 18,045 22,317 95,165 67,984 17,566 15,568 21,710 32,667 24,867 18,725 72,468 29,701 20,567 56,668 10,186 19,342 7,988 9,027 14,538 14,036 15,763 13,386 24,070 47,065 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 320,927 19,570 25,515 19,850 6,350 28,843 51,159 64,950 8,494 19,904 43,338 19,104 13,850 -- - — 28,866 - - 28,866 — - - - - - - - - - - - - - 507,736 116,548 174,890 128,841 111,611 348,404 82,273 47,235 87,368 82,033 239,236 2,035,567 109,392 487,076 730,895 538,450 466,447 1456,040 343,827 197,405 365,129 342,832 999,810 2,121,916 457,166 8,506,993 13,010,298 699,173 3,245,185 744,918 1117,806 823,487 713,368 2226,816 525,837 301,904 558,415 524,315 1529,074 619,532 142,211 213,398 157,210 136,188 425,117 100,386 57,636 106,606 100,096 291,913 2,483,771 133,478 6,494,369 1490,753 2236,989 1647,988 1427,614 4456,377 1052,323 604,180 1117,518 1049,276 3060,033 2^ 036; 629 1399,209 Total U. S. Govt, sees. 26,036,629 1399,209 6,494,369 1490,753 2236,989 1647,988 1427,6l4 4456,377 1052,323 6o4,l8o 1117,518 1049,276 3060,033 Total loans & securities 26,386,422 1418,779 6,548,750 1510,603 2243,339 1676,831 1478,773 4521,327 1060,817 624,084 1160,856 1068,380 3073,883 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 1 / 4 1 1 1 1 2 (2) (2) 1 1 2 5,132,268 385,012 1,078,546 337,834 483,651 4ll,l43 343,557 812,494 209,884 l4o, 517 255,591 188,706 485,333 4,154 9,661 3,923 9,023 6,431 10,396 19,586 6,853 4,941 4,552 12,787 11,885 104,192 9,833 47,317 10,485 16,465 11,793 10,851 31,018 7,417 4,284 8,823 7,569 21,956 187,811 51,558,832 2731,925 13,200,373 2920,421 4378,671 3209,669 2836,976 8874,458 2038,725 1133,116 2187,347 1894,202 6152,949 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 8.4.1(c) Total 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 STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BAKK' "OK olME 1, i960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City San Dallas Francisco 27,382,324 1577,931 6,411,269 1777,295 2489,193 2034,430 1546,349 5181,553 1183,090 603,856 1102,072 775,484 2699,802 17,541,026 698,234 5,081,771 755,459 1316,194 733,864 895,017 2724,440 604,259 359,832 789,lv7 838,664 2744,105 85,611 27,303 36,490 30,897 29,377 66,502 22,933 13,9# 23,718 39,174 58,812 460,051 25,290 4,922 8,774 12,412 26,322 10,486 1/60,738 12,626 20,116 9,630 11,128 29,532 7,062 213,748 349 1,891 783 42,547 911 305,340 1,173 1,039 2,869 1,588 771 558 359,819 18,574,644 734,921 5,533,460 796,561 1373,839 777,260 937,110 2821,245 634,812 379,04? 823,570 891,033 2871,786 4,278,767 353,581 881,421 269,650 394,180 336,829 283,993 683,740 176,000 119,292 206,299 153,581 420,201 2.479 11,281 2,419 4,253 2,523 2,309 7,593 1,617 1,374 1,823 1,856 4,979 44,506 2668,912 12,837,431 2845,925 4261,465 3151,042 2769,761 8694,131 1995,519 1103,569 2133,764 1821,954 5996,768 50,280,241 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 398,079 774,808 105,704 19,581 38,332 5,100 113,738 220,905 28,299 23,270 45,638 5,588 36,661 72,530 8,015 17,861 34,566 6,200 20,902 55,108 40,306 107,334 6,007 17,885 13,311 25,862 4,033 9,186 17,580 2,781 16,657 31,720 5,206 22,986 44,645 4,617 48,818 95,390 11,973 51,558,832 2731,925 13,200,373 2920,421 4378,671 3209,669 2836,976 8874,458 2038,725 1133,116 2187,347 1894,202 6152,94g_ 162,529 7,962 2/46,342 9,587 15,275 7,312 8,450 22,425 5,362 3,738 6,663 9,425 19,988 FEDERAL RESERVE AGENTS' ACCOUNTS 28,298,336 1628,977 6,681,337 1824,806 2552,820 2089,440 1609,542 5296,828 1223,090 614,091 1129,804 821,248 2826,353 F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 10,565,000 530,000 Eligible paper 71,682 U. S. Govt, securities 19,145,000 1250,000 Total collateral 29,781,682 1780,000 1/ After deducting $153,010,000 participations 2/ After deducting $116,187,000 participations 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000 -43,S38 —— 19,850 —— —— —— —— 8,494 3,900,000 1200,000 1750,000 1465,000 1200,000 3700,000 935,000 450.000 870,000 625,000 1800,000 6,800,000 1919,850 2670,000 2l40,000 1700,000 5600,000 1353,494 630,000 1213,338 875,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER