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b.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release June 8, 196l 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 7 decreased a net of $101 million to $18,769 million. Cash allowed as reserves decreased $182 million and member bank reserve "balances at the Federal Reserve Banks increased $8l million. Estimated required reserves decreased $43 million; and estimated excess reserves decreased $58 million to $554 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4-92 million, compared with the revised figure of $520 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $259 million in holdings of U. S. Government securities and $45 million in Federal Reserve float, and a decrease of $36 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $30 million in member bank borrowings, and increases of $143 million in currency in circulation and $99 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $271 million. As of Wednesday, June 7, holdings of U. S. Government securities bought outright were $293 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $1 million lower, and member bank borrowings were $45 million lower. Outright holdings of bills, notes, and bonds increased $178 million, $51 million, and $64 million, respectively. 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 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 June 7, June 8, May 31, 1961 1961 I960 (In millions of dollars) 27,04l 20 37 62 4 1,010 28,175 17,410 5,429 51,014 Wednesday June 7, 1961 +242 + 17 - 3 + + + 923 4 7 27,179 - 30 + + 338 4 17 62 3 - 1 + 45 +271 + + 8 1 +280 + 618 m> mm 37 869 28,150 -1,942 + 79 -1,245 17,428 5,429 51,007 + + + 32,198 425 473 198 239 1,071 34,604 +143 + 7 + 99 - 13 - 36 - 2 +198 + + 281 1 28 1 104 37 242 32,270 417 420 227 246 1,068 34,648 16,410 + 81 -182 -101 - 43 - 58 -1,487 +2,104 + 617 + 525 + 92 16,359 2,359 18,769 18,215 554 2,556 18,915 18,175 740 On June 7> 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,668 million, an increase of $31 million for the week and an increase of $744 million from the comparable date a year ago. BU4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS (In millions of dollars) A S S E T S Gold certificate~account Redemption fund for F. R. notes Total gold certificate reserves 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. S. Government securities L I A B I L I T I E S 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 Change since June 8, May 31, 1961 I960 16,080 1,046 17,126 + + + (322) 370 65 37 19 12 31 k «* 46 mm w> + 2,829 6,517 14,599 3,234 27,179 + + + 27,179 178 m •> -2,034 + 108 -1,926 + + 19 491 8 + 668 -1,990 +1,589 + 750 +1,017 + 51 64 293 1 292 +1,017 27,281 + 246 + (873) 4,054 108 223 (1,195) 49,162 + 388 + 138 + + 680 19 + 4 + 17 -1,214 (322) 27,326 + 88 + 16,359 420 227 246 17,252 + + + 252 -1,521 59 + 20 - 102 -1,662 290 2 + 129 + 3 -1,267 .. Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS June 7, 1961 - ## *» + + (873) 3,185 49 (1,195) 47,812 + + C A P I T A L A C C O U N T S Capital paid in 423 Surplus 817 Other capital accounts no TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,195) 49,162 48 17 31 286 666 mm wm + + 14 680 534 263 + 25 + 42 14 -1,214 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the following pages—not consolidated) 38.1% - 3.0# •3* Contingent liability on acceptances purchased for foreign correspondents 160 6 12 * Figures in parentheses are the eliminations made in the consolidating process; see comparable figures on combined basis on following pages. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 7, 196l (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 * Less than $500,000. Discounts and advances 62 3 * — — -65 Acceptances 9 28 -— — — 37 U. S. Government securities Changes Holdings during week 307 - 86 6,569 7,449 10,560 2,135 159 27,179 +255 + 7 + 89 + 19 + 8 +292 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE ?, 1961 Total Boston New York Philadelphia Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 16,080 1,046 17,126 829 59 888 3,945 245 4,190 973 63 1,036 1,360 89 1,449 981 89 1,070 791 62 053 2,754 186 2,940 631 45 676 324 26 350 741 48 709 642 31 673 2,109 103 2,212 322 370 13 22 108 76 15 17 18 34 16 18 50 32 23 61 8 17 9 7 15 11 15 21 32 54 65 2 6 4 2 14 10 19 * 1 4 1 2 114 262 66 152 342 76 636 124 284 115 265 593 131 1,104 339 782 1,751 387 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 Held under repurchase agreement Richmond ( In millions of dolJLars) A S S E T S Gold certificate account Redemption ftind for F. R. notes Total gold certificate reserves Cleveland 37 -- 2,829 151 6,517 347 14,599 777 172 3,234 21,179 I1,447 — -- 37 -- 700 1,612 3,610 800 6,722 «. — 163 377 843 187 1,570 — - - - 240 552 1,238 274 2,304 -- 179 412 924 205 1,720 155 358 803 178 1,494 - - 483 1,114 2,494 553 4,644 588 130 1,094 636 l4l 1,185 -- - - — — 3,259 - • Total U. S. Government securities 27,179 1,44? 6,722 1,570 2,304 1,720 1,494 4,644 1,094 636 1,185 1,104 3,259 Total loans and securities 27,281 1,449 6,765 1,574 2,306 1,734 1,504 4,663 1,094 637 1,189 1,105 3,26l 4,927 108 223 351 4 12 958 9 55 298 380 8 391 12 13 786 222 23 37 7 9 154 5 5 255 5 10 229 14 9 541 20 362 6 14 50,357 2,739 12,161 2,956 4,215 3,220 2,855 8,533 2,033 1,167 2,274 2,066 6,138 Cash itens in process of collection Bank premises Other assets TOTAL ASSETS 4 12 * 11 27 Less than $500,000. H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK Oil JUNE 7, 19ol Dallas San Francisco 1,153 825 2,769 618 385 23 6 1 415 803 47 11 1 862 906 47 15 1 969 2,607 52 32 39 2,730 679 178 130 200 195 458 2 St. Minne- Kansas Atlanta iChicago City Louis apolis 1 (In millions of doll;xrs) Philadelphia Cleveland Richmond 1,823 2,480 2,136 1,577 5,130 1,190 590 753 31 15 1 800 1,207 35 24 1 1,267 675 37 12 2 726 844 7 14 1 866 2,446 38 37 1 2,522 588 21 9 335 Total Boston Net; York Federal Reserve notes Deposits: Member bank reserves U.S. Treasurer-general account Foreign Other Total deposits 27,648 1,597 6,378 16,359 420 227 246 17,252 697 31 13 741 4,448 ,51 1/39 198 ^73^~ Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,058 333 663 254 340 293 49 3 2 3 3,157 1,988 1 1,136 2 2,781 8 8,339 2 2,879 4 4,091 2 49,007 2,674 14 11,791 2,217 1,991 6 5,963 20 117 229 24 24 48 5 39 75 10 39 37 7 23 44 7 60 116 18 14 27 4 10 19 2 18 35 4 24 47 4 55 100 20 L I A B I L I T I E S * * CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 423 817 110 4o 5 50,357 2,739 12,161 2,956 4,215 3,220 2,855 8,533 2,033 1,167 2,274 2,066 6,138 160 8 2/ 45 9 15 7 8 23 5 4 7 9 20 2,209 1,626 5,234 1,232 675 1,179 867 2,876 1,700 380 180 1,000 - - 300 4 900 1,204 275 - - FEDERAL RESERVE AGENTS ' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 28,843 1,649 6,811 1,865 2,620 8,975 8 21,210 30,193 475 2,000 650 870 670 475 - - - - -- 1,560 2,230 1,200 1,675 1,275 1,750 5,100 7,100 4 1,325 1,979 1,880 2,750 _l/ After deducting $188 mi3lion participations of other Federal Reserve Banks. 2/ After deducting $1.15 miljion participations of other Federal Reserve Banks. 3,800 5,500 935 1,315 510 690 - - 625 900 " 2,100 3,100 *Less than $500,000.
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