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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release June 30, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of d a i l y f i g u r e s of t o t a l member bank reserves held during the week ended June 29 decreased a net of $279 m i l l i o n t o $18, 322 m i l l i o n , which r e f l e c t e d in p a r t a decrease of $308 m i l l i o n i n member bank reserve balances a t the Federal Reserve Banks. Estimated required r e s e r v e s decreased $189 m i l l i o n ; and estimated excess r e s e r v e s decreased $90 m i l l i o n t o $469 m i l l i o n . Excess r e serves exceeded member bank borrowings a t the Federal Reserve Banks by $57 m i l l i o n , compared with t h e r e v i s e d f i g u r e of$9 m i l l i o n the week b e f o r e . The p r i n c i p a l changes reducing average reserve balances with Federal Reserve Banks were decreases of $376 m i l l i o n in Federal Reserve f l o a t and $138 m i l l i o n i n member bank borrowings, and an increase of $24 m i l l i o n i n f o r e i g n deposits with Federal Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were an increase of $118 m i l l i o n in U. S. Government s e c u r i t i e s bought o u t r i g h t , and decreases of $60 m i l l i o n i n currency in c i r c u l a t i o n and $45 m i l l i o n i n Treasury d e p o s i t s with Federal Reserve Banks. Total Reserve Bank c r e d i t decreased $396 m i l l i o n . As of Wednesday, June 29, holdings of U. S. Government s e c u r i t i e s bought o u t r i g h t were $236 m i l l i o n higher than a week e a r l i e r and member bank borrowings were $472 m i l l i o n lower. Member bank r e s e r v e s , Reserve Bank c r e d i t , and r e l a t e d items Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s - Bought outright--System account Held under repurchase agreement Acceptances—bought o u t r i g h t Loans, discounts, and advances— Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Currency i n c i r c u l a t i o n Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other d e p o s i t s with F . R. Banks Other F. R. accounts ( n e t ) Member bank r e s e r v e s : With Federal Reserve Banks Cash allowed as r e s e r v e s (estimated) Total r e s e r v e s held Required r e s e r v e s (estimated) Excess r e s e r v e s (estimated) Averages of d a i l y f i g u r e s Week ended Change from week ended June 22, 1 J u l y 1, June 29, I960 1 1959 I960 ( I n m i l l i o n s of d o l l a r s ) 26,129 - - +118 • 30 412 mm 1,168 27,739 19,325 5,356 52,420 31,867 4o6 505 249 415 971 34,413 18,007 315 18,322 17,853 469 + + — 1 + -138 - mm «•> - -376 -396 - 21 + + 2 - + -415 - - 60 + - 6 - 45 + 24 - 22 + 1 -107 -308 + 29 -279 -189 - 90 - + - - + * - + 111 27 3 Wednesday June 29, i960 26,219 - - 28 267 509 17 136 303 387 73 617 868 27,383 19,322 5,356 15 31,950 47 47 495 1 -»— 52,061 405 289 62 219 238 423 971 34,532 379 17,528 315 17,843 17,869 -26 315 64 216 152 On June 29, i960, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r f o r e i g n account were $5,079 m i l l i o n , an increase of $102 m i l l i o n f o r t h e week and an increase of $1,184 m i l l i o n from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s F. R. n o t e s of o t h e r Banks Other cash Discounts and advances I n d u s t r i a l loans Acceptances—bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held under repurchase agreement T o t a l U. S. Government s e c u r i t i e s T o t a l loans and s e c u r i t i e s Due from f o r e i g n banks Cash items i n p r o c e s s of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS Change since J u l y 1, June 22, I960 1959 June 29, I960 —- *• — - 28,223 - - + 400,504 13,431 387,073 59,435 4,683 336,175 1 2,827 + 119,967 18,093,64l 935,380 19,029,021 349,974 - - - 365,887 267,247 2,217,867 8,506,993 - + 236,000 - — 13,010,298 2,483,771 26,218,929 17,002 1,044 18,046 24,343 1,212 471,431 - -10,142,733 •» — + 236,000 + + - **• — 26,514,399 15 5,499,482 104,920 245,295 52,108,993 - + + +10,142,733 - - — 26,218,929 - + 236,000 + 235,431 232,132 — • • * -1,042,859 214 -1,302,013 - 192,651 9,129 59,140 679,469 66,606 - 38,320 + 20,092 - -> 'b L I A B I L I T I E S Federal Reserve n o t e s ~~ Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 18,734,494 4,631,395 48,831 50,836,193 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 399,829 774,808 98,163 52,108,993 + -1, 302,013 - 41.2$ + - 181,607 - R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F . R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l loan commitments 27,421,473 17,528,051 495,062 288,730 422,651 - 119,967 18,750 101,217 - + + - - 497,513 82,674 13,684 25,309 541,194 850,235 2,900 -1, 321,923 + 1,002 - - + 18,908 2,192 - + + - - + - + 284,428 71,977 663 36,215 319,527 180,303 18,242 519,908 19,877 93,602 85,836 679,469 105,822 - — 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 29, I960 (Acceptances and s e c u r i t i e s h e l d under repurchase agreement a r e c l a s s i f i e d as maturing w i t h i n 15 days i n accordance with maximum m a t u r i t y of t h e agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s Over 10 y e a r s Total Discounts and advances 254,281 12,846 120 — — — 267,24? Acceptances 8,663 19,560 -— — — 28,223 U. S. Government securities 266,836 6,731,910 12,083,679 5,686,647 1,178,574 271,283 26,218,929 H.4.l(b) STATEMENT OF CONDIT][ON OF EACH FEDERAL RESERVE BANK ON JUNE 29, JI960 PhilaCleveSt. Boston New York Richmond A t l a n t a |Chicago delphia land Louis ( I n thousands of d o l l a r s ) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F . R. n o t e s T o t a l gold c e r t i f i c a t e reserves 18,093,641 824,267 5,113,945 935,380 59,073 196,948 19,029,021 883,340 77,252 59,060 175,877 San Francisc< Dallas 682,574 318,037 667,002 44,486 23,054 43,718 607,151 2358,12' 31,875 80,8i: 727,060 341,091 710,720 639,026 2438,94( 14,574 20,114 34,557 20,447 17,787 67,346 34,984 62,121 23,096 11,886 20,836 12,316 8,540 17,583 14,947 18,055 15,886 36,54< 49,71' 14,255 28,705 9,475 19,166 29,425 44,383 4,955 30,674 38,246 27,353 7,06; 28,223 «•» « • mm — *» ** •B mm 16,470 23,327 84,844 Discounts and advances Acceptances: Bought o u t r i g h t U. S . Govt, s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total Held under repurchase agreement 267,247 13,545 2,217,867 8,506,993 84,149 Kansas City 21,268 349,974 365,887 —— 59,075 991,281 821,534 3208,559 5,310,893 1057,709 1586,679 1068,533 880,594 3384,436 F.R. n o t e s of o t h e r Banks Other cash 28,223 998,634 1502,530 Minneapolis 68,611 119,188 457,166 13,010,298 699,173 2,483,771 133,478 26,218,929 1409,005 553,207 126,986 190,553 140,380 121,607 2,121,916 487,076 730,895 538,450 466,447 3,245,185 744,918 1117,806 823,487 713,368 619,532 142,211 213,398 157,210 136,188 6,539,840 1501,191 2252,652 1659,527 1437,610 T o t a l U« S. Govt, s e e s . 26,218,929 1409,005 6,539,840 Total loans & s e c u r i t i e s 26,514,399 1422,550 6,582,318 1529,896 1501,191 2252,652 1659,527 1437,610 2262,127 1678,693 1467,035 379,606 89,64l 51,465 95,193 89,380 260,66] 1456,040 343,827 197,405 365,129 342,832 999,8% 2226,816 525,837 301,904 558,415 524,315 1529,071 425,117 100,386 57,636 106,606 100,096 291,91; 4487,579 1059,55T 60b,410 1125,343 1056,623 3001,45* 4487,579 1059,691 6c8,410 1125,343 1056,623 3081,45* 4531,962 1064,646 639,084 1163,589 1083,976 3088,52: Due from f o r e i g n "banks Cash items in process of c o l l e c t i o n Bank premises Other a s s e t s 15 1 1/4 l 1 1 1 2 (2) (2) 1 1 5,499,482 104,920 245,295 419,433 4,120 1,012,595 9,668 363,975 3,901 490,950 456,707 426,809 854,748 232,625 153,148 271,332 238,479 578,68: 21,523 15,567 14,101 41,105 9,713 5,659 11,403 10,096 28,64< TOTAL ASSETS 52,108,993 2782,286 13,129,198 3005,502 4424,934 3264,147 2901,369 8917,642 2073,585 1164,774 2194,127 2018,555 13,045 60,265 14,178 8,983 1 j A f t e r deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / Less t h a n $500. 6,412 10,499 20,172 6,819 4,936 4,552 13,036 11,82! 6232,87 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 29, I960 St. ClevePhilaRichmond A t l a n t a Chicago Boston New York Louis delphla land ( I n thousands of d o l l a r s ) 3.4.1(c) Total l i a b i l i t i e s F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred a v a i l a b i l i t y c a s h items Other l i a b i l i t i e s and accrued d i v i d e n d s TOTAL LIABILITIES 27,421,473 1595,662 6,390,414 1762,515 2488,922 17,528,051 495,062 288,730 422,651 18,734,494 677,162 4,631,395 392,363 48,831 50,836,193 2044,339 Kansas City Minneapolis 1559,161 5177,306 1184,908 602,956 1107,321 860,826 29,669 Dallas San Francisco 784,965 2703,004 816,038 906,584 2666,051 28,328 88,513 15,776 33,456 527 51,129 951,215 2839,149 128,652 215,391 208,100 1,761 1,522 1,983 -- - 55,323 107,334 16,555 13,399 25,862 3,698 9,201 17,580 2,557 16,709 31,720 4,965 2782,286 13,129,198 3005,502 4424,934 3264,14? 2901,369 8917,642 2073,585 37,737 5,109,807 41,714 357 362,301 13,328 1/94,250 796,799 1323,110 21,623 36,538 16,048 25,568 724,056 61,932 12,240 2692,834 68,878 614,020 37,119 374,452 782,350 11,152 21,329 6,256 269 2,510 654 1385,870 799,960 8,976 14,144 37,536 352 959 1,007 660,467 402,306 905,598 2800,255" 757,941 309,152 428,722 358,488 367,171 752,882 183,490 2,645 12,054 2,599 4,619 2,726 2,479 2931,246 4308,133 3205,513 2834,409 7,987 19,939 38,332 4,761 113,829 220,905 25,983 728,584 5,608,072 836,980 2719,254 12,768,481 1,732 8738,430 21,682 854 529,043 2,283 6,173 2030,626 1135,436 2140,733 1946,563 6077,369 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 399,829 774,808 98,163 52,108,993 23,305 45,638 5,313 37,049 72,530 7,222 18,165 34,566 5,903 21,040 40,306 5,6l4 1164,774 2194,127 23,033 44,645 4,314 48,837 95,390 11,278 2018,555 6232,874 Conting. l i a b . on a c c e p t t o r e i g n correspondents F . R. n o t e s o u t s t a n d i n g C o l l a t . f o r F . R. n o t e s : Gold c e r t i f i c a t e a c c t . E l i g i b l e paper U. S . Govt, s e c u r i t i e s Total c o l l a t e r a l JLQJL} D U 1 28,407,701 OjOyO l64l,o6o Zll (OJ 6,659,435 (J/* J- 1 > V (V KJ,.L(G. Cp,UUJL FEDERAL RESERVE AGENTS' ACCOUNTS 1831,190 2585,975 2108,045 1622,703 5292,484 1235,198 1 614,699 1138,144 1 833,284 2845,484 10,565,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000 —-28,355 -4,955 ~— 38,l46 -— -— 71,456 1250,000 3,900,000 1200,000 1750,000 1465,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000 19,145,000 29,731,456 1780,000 0,866,000 1928,355 2670,000 2140,000 1700,000 5600,000 1349,955 630,000 1208,146 875,000 3100,000 S"%" x x v r :Tj 2/ A f t e r d e d u c t i n g $129,844,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
@FedFRASER