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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.I For Immediate Releese June 23, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAEC CREDIT, AH) RELATED ITEMS end STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member bank reserves held during the week ended June 22 increased $469 million to $18,623 million, which included an increase of $456 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $305 million; and estimated excess reserves increased $164 million to $589 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $39 million, compared with the revised figure of $51 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $515 million in Federal Reserve float and $176 million in member bank borrowings, and decreases of $49 million in currency in circulation and $31 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $165 million in U. S. Government securities bought outright, and increases of $60 million in Treasury deposits with Federal Reserve Banks and $72 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $526 million. As of Wednesday, June 22, holdings of U. S. Government securities bought outright were $172 million lower than a week earlier and member bank borrowings were $387 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, June 24, June 22, June 15, June 22, I960 1959 I960 i960 (In millions of dollars) 26,011 «»«» -165 w - 29 -- 550 +176 - 1 1,544 28,135 19,3^6 5,354 52,835 +515 +526 31,927 412 550 225 437 970 34,520 - 49 - 3 + 19 + 72 - 31 7T6~ 18,315 308 18,623 18,034 589 + 13 +469 +305 +164 - 5 + 1 +522 + 60 +456 + 75 - 34 + 2 -326 - 18 +288 T~l2 -671 + 74 -609 +120 -214 + 35 - 58 + 88 -268 25,983 -- 28 739 — — l,06l 27,811 19,339 5,355 52,504 31,852 408 578 275 397 968 -298 34,478 -312 +308 - 4 18,026 308 18,334 -136 +132 18,029 On June 22, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,977 million, a decrease of $64 million for the week and an increase of $1,068 million from the comparable date a year ago. 305 H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) June 22, I960 Change since June 24, June 15, 1959 I960 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. "notes of other Banks Other cash Discounts end 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 18,110,643 936,424 19,047,057 374,317 367,099 738,678 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1,000 450,499 - 1,929 2,929 + 24,505 + 14,993 + 386,200 + - + + - - 14,636 435,863 23,449 149 170,558 1 2,826 28,223 643 1,981,867 - 172,300 + 63,667 2,483,771 25,952;929 172,300 + 63,667 25,982,929 - 172,300 63,667 26,749,830 15 6,542,341 105,134 225,203 537511,005 + 213,257 104,066 27,354,867 49,398 47,350 102,284 42,865 90,984 21,897 53,^62 + 162,465 45,727 62,428 33,764 145,402 813,901 5,974 721,823 + 19,351 93,602 139,045 508,527 8,506,993 + -10,142,733 +10,142,733 13,010,298 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 18,025,564 577,736 275,046 397,342 19,2751588 5,481,630 45,931 52,158,116 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 398,827 774,808 79,255 53,411,006 - 220,756 + 465 + 20,197 + 59,732 + + + + + + 26,882 338 31,284 + 238 + 18,210 49,732 40.8# .1# 183,799 2,105 + + 4+ + 963,595 9,038 52,225 508,527 106,365 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 22, 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 727,761 10,782 Acceptances 117280 16,943 738,678 28,223 135 U. S. Government securities 3037395 6,558,350 11,984,679 5,686,647 1,178,574 271,283 25,982,929 STATEMENT OF C0NDIT3[ON OF EACH FEDERAL RESERVE BANK ON JUNE 22, ]I960 St. PhilaRichmond Atlanta Chicago Louis Boston New York delphia (in thousands of dollars) O 11 H,4.1(b) Total Minneapolis San Dallas Francisco Kansas City ASSETS Gold certificate account 18,110,643 846,238 5,143,548 1005,313 1537,o84 1002,910 834,928 3047,138 669,992 339,665 659,695 651,800 2372,332 Redemption fund for 197,749 57,333 84,378 77,985 59,257 176,170 44,558 23,096 43,778 31,927 80,960 936,424 59,233 J?. R. notes Total gold certificate 19,047,067 905,471 5,341,297 1062,646 1621,462 1080,895 894,185 3223,308 714,550 362,761 703,473 683,727 2453,292 reserves F.R. notes of other Banks Other cash 374,317 367,099 21,896 24,186 102,339 72,828 24,287 14,825 20,600 35,297 21,659 19,052 67,612 32,730 21,192 61,663 11,616 18,720 9,964 7,625 16,671 14,751 17,612 15,470 38,869 49,952 Discounts end advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 738,678 10,315 115,305 49,990 51,450 23,683 64,475 270,799 20,350 22,155 53,386 36,085 20,685 28,223 28,223 494,341 113,474 170,276 125,442 108,667 339,213 80,102 45,989 85,063 79,869 232,925 1,981,867 106,506 457,166 2,121,916 487,076 730,895 538,450 466,447 1456,040 343,827 197,405 365,129 342,832 999,810 8,506,993 699,173 3,245,185 744,918 1117,806 823,487 713,368 2226,816 525,837 301,904 558,415 524,315 1529,074 13,010,298 133,478 619,532 142,211 213,398 157,210 136,188 425,117 100,386 57,636 106,606 100,096 291,913 2,483,771 139^323^^0,*974 i4S7"7579~2232,375^44,5H9~l524,670 4447,186 1050,152 602,934 1115,213 1047,112 3053,722 25,982,929 1396,323 6.480,974 1487,679 2232,375 1644,589 1424,670 4447,186 1050,152 602,934 1115,213 1047,112 3053,722 Total U. S. Govt, sees. Total loans & securities 26,749,830 1406,638 6,624,502 1537,669 2283,825 1668,272 1489,145 4717,985 1070,502 625,089 1168,599 1083,197 3074,407 1 1 / 4 1 1 1 1 2 (2) (2) 1 1 2 Due from foreign "banks Cash items in process of collection Bank premises Other assets 6,542,341 460,773 1,463,377 334,261 578,780 508,586 514,001 957,561 262,431 178,663 342,029 310,067 631,812 4,155 9,668 3,901 9,023 6,424 10,528 20,172 6,856 4,964 4,552 13,036 11,855 105,134 55,179 12,8 19,651 14,194 13,039 37,646 8,962 5,232 10,552 9,365 26,487 225,203 12,012 TOTAL ASSETS 53,411,006 2835,132 13,669,194 2990,474 4568,639 3319,083 3021,241 9039,529 2093,637 1194,298 2260,628 2132,475 6286,676 15 _l/ After deducting $11,000 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.Trees.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 22, i960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of Hollars) 27,354,867 1579,853 6,372,771 1781,693 2488,598 2032,119 1552,733 18,025,564 741,516 5,130,155 784,150 1417,782 216,556 12,o4l 42,097 577,736 25,346 275,046 12,936 1/86,286 15,576 24,8l6 621 346,048 5,178 390 397,342 780,419 5,779,045 816,945 1485,085 19,275,688 5,481,630 410,588 742,768 44,386 11,880 1,431 5181,168 1182,970 604,775 933,861 2743,974 645,854 17,382 62,483 3,409 13,728 36,432 8,712 892 688 Minneapolis 521 377,306 22,480 6,072 189 800,465 965,863 2843,577 658,496 4o6,o47 1,149,917 316,306 475,802 426,728 434,235 831,332 208,378 153,273 Kansas City 1105,866 San Dallas Francisco 783,486 2688,835 774,409 958,839 2774,950 44,911 36,182 50,463 10,824 15,312 32,472 801 830,945 631 39,952 1010,964 2897,837 269,425 264,618 541,028 2,537 11,448 2,343 4,182 2,486 2,438 7,561 1,634 1,316 1,803 2,142 6,04l 45,931 55,156,116 WttTWl 13,313,18TT9I7,207 4453,667 3261,79b 2955,269 0863,638 2051,47b 1165,411 2206,039 2061,210 6133,741 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 398,827 774,808 79,255 53,411,006 183,799 19,587 38,332 3,816 113,808 220,905 21,300 23,299 45,638 4,250 36,749 72,530 5,693 17,966 34,566 4,753 21,037 55,304 13,321 40,306 107,334 25,862 4,629 13,253 2,976 9,190 17,580 2,117 16,705 31,720 4,164 23,030 44,645 3,590 48,831 95,390 8,714 2835,132 13,669,194 2990,474 4568,639 3319,083 3021,241 9039,529 2093,637 1194,298 2260,628 2132,475 6286,676 9,006 F. R. notes outstanding 28,343,736 1629,628 Collat. for F. R. notes: Gold certificate acct. 10,565,000 530,000 Eligible paper 123,726 U. S. Govt, securities 19,14.^000 1250,000 Total collateral _____ .29,833,726 1780,000 1/ After deducting $iS8,76O,OW participations 2/ After deducting $131,417,000 participations 2/52,382 10,844 17,277 8,271 9,558 25,365 6,066 FEDERAL RESERVE AGENTS' ACCOUNTS 6,635,406 1824,730 2578,945 2101,836 1620,846 5291,707 1231,127 10,660 22,607 616,806 1134,424 827,242 2851,039 4,227 7,536 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000 —— 49,990 —-— *— -20,350 — 53,386 —— 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 19^9,990 2670,000 2140,000 1700,000 5608,000 1365,350 630,000 12237356 875,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER