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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release March 10, 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 March 9 decreased $150 million to $17,951 million, which included a decrease of $69 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $88 million; and estimated excess reserves decreased $62 million to $376 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $219 million, compared with $355 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $198 million in member bank borrowings and an increase of $97 million in currency in circulation. The principal offsetting changes were increases of $113 million in Federal Reserve float and $58 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $30 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $27 million. As of bought outright securities held bank borrowings Wednesday, March were $4l million under repurchase were $71 million 9, holdings of U. S. Government securities higher than a week earlier, U. S. Government agreement were $34 million lower, and member higher. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week ended March 10, March 2, March 9, 1959 I960 I960 (In millions of dollars) Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement 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) 25,235 35 36 595 mm 1,174 27,075 19,412 5,333 51,819 + 81 - 23 + 1 -- -198 - 1 +113 - 27 - 9 + 5 - 32 31,613 435 542 200 293 1,007 34,088 + 97 - 9 17,731 220 17,951 17,575 376 - 69 - 81 -150 - 88 - 62 - - - 19 - 30 - l + 37 1 1 I960 96 25,225 1 2 32 108 20 325 99 -1,036 + 91 - 847 745 - — + - + 815 26,818 19,409 5,333 51,561 398 281 88 111 43 205 156 31,662 690 220 470 - 293 - 177 17,381 220 + + - + 441 564 200 307 1,006 357180 17,601 17,468 133 On March 9, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,674 million, an increase 01 $82 million for the week and an increase of $778 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) A S S E T S 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 Acceptance s - -"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 L I A B I L I T I E S 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 C A P I T A L A C C O U N T S 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 March 10, March 2, I960 1959 March 9, I960 18,158,642 962,468 19,121,110 494,222 465,043 745,374 - - + -- 32,394 10,000 2,681 12,681 76,179 30,016 71,496 -- - + . + - + + + - 2,508 40,876 - 774,250 39,524 734,726 11,168 25,647 239,149 333 2,236 -«• 113,283 -10,142/733 +10,142,733 - + 40,876 33,500 7,376 26,003,047 15 4,763,471 101,315 210,725 51,158,948 + 76,364 27,440,356 + 1,224,217 8,506,993 13,010,298 2,483,771 25,225,279 + — — - 25,225,279 17,380,710 564,050 199,979 307,417 18,452,156 3,948,625 33,245 49,874,382 - 108,297 - — - • + • + - + - + - 394,063 774,808 115,695 51,158,948 + 113,263 15,000 128,283 - - 817,617 19 20,097 840,013 34,813 229,936 113,380 30,834 14,136 133,254 763,008 2,294 859,155 - 94,641 6,636 76,549 601,070 + 397,025 - + • • • - • 712,230 173,985 104,449 34,998 677,692 197,559 6,137 472,089 - 18,757 840,013 - 20,130 93,602 55,509 601,070 41.7# + .1* - 1-3% 111,622 - 5,847 385 - -> + - + 49,917 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 9, 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 738,032 7,263 79 -.. 745,374 Acceptances 10,004 22,390 ~ .. — -32,394 U. S. Government securities 162,160 864,007 14,205,043 8,544,212 657,084 792,773 25,225,279 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK CM MARCH 9, I960 1 ' /in -L" 1 I R St. ClevePhila Richmond Atlanta Chicago New York Boston Louis land delphia "fin 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 18,158,642 864,865 962,468 58,468 5,033,002 1043,630 1629,351 208,265 59,007 85,818 989,775 78,776 880,711 2984,768 62,762 180,201 San Francisco Minneapolis Kansas City Dallas 687,638 363,278 678,622 606,922 2396,080 45,686 22,902 44,698 32,656 83,229 19,121,110 923,333 5,241,267 1102,637 1715,169 1068,551 943,473 3164,969 733,324 386,180 723, 320 639,578 2479,309 F.R. notes of other Banks Other cash 494,222 465,043 31,617 30,151 120,697 85,386 23,915 27,136 32,326 40,932 45,306 31,748 91,440 33,718 32,137 84,886 9,715 26,017 11,396 11,128 16,621 15,830 31,069 15,235 47,963 62,876 Discounts and advances Acceptances: Bought outright U. S. Govt. securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 745,374 42,581 75,060 44,175 76,800 56,532 54,205 192,002 22,950 28,088 76,587 61,994 14,400 49,789 345,979 529,129 101,015 1025,912 27,883 193,764 296,336 56,573 574,556 52,770 366,694 560,809 107,063 1087,336 32,394 32,394 69,813 105,990 308,077 66,370 1,224,217 736,518 485,120 2,140,802 461,207 8,506,993 741,925 1126,406 3,274,067 13,010,298 705,353 625/046 l4l!639 215!040 2,483,771 134,658 1367' 588 6,347/992 1438, 497 2183,954 25,225,279 78,457 545,197 833,804 159,180 1616,638 64,521 211,854 448,352 1472,152 685,695 2251,458 130,905 429,821 1329,473 4365, 285 48,864 139,829 339,548 971,660 519,293 i486,023 99,137 283,694 1006,842 2881,206 Total U. S. Govt, sees. 25,225,279 1367,588 6,347,992 1438,497 2183,954 1616,638 1329,473 4365,285 1025,912 574,556 1087,336 1006,842 2881,206 Total loans & securities 26,003,047 1410,169 6,455,446 1482,672 2260,754 1673,170 1383,678 4557,287 1048,862 602,644 1163,923 1068,836 2895,606 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1 15 4,763,471 101,315 210,725 % ll' 181 1 / 4 1;S£ 52,207 1 12,085 1 % 18,623 1 2 2 / 2 / 1 1 2 35 !;$ To,It % % % % % 1 13,530 11,774 35,524 8,458 4,759 9,878 8, 517 24,189 51,158,948 2772,289 12,860,956 2940,332 4463,276 3198,002 2895,764 8644,692 2040,756 1157,709 2168,136 1998,648 6018,388 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 H.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 9, I960 St. ClevePhilaRichmond Atlanta Chicago New York Boston Louis land delphia (In thousands of dollars) Kansas City Minneapolis Dallas 27,440,356 1572,057 6,420,510 1761,194 2514,285 2058,780 1552,304 5191,191 1202,086 17,380,710 759,746 41,390 564,050 9,751 199,979 398 307,417 18,452,15b 811,285 3 E 1:1 " I I I S i s I 1 1 ® I f I S 1 8 1 | 3,948,625 323,173 -PKQ 726 '$,380', 14b 690,357 1,897 887 870,110 1499,864 231,809 327,100 4*291 779,274 1,223 1,143 913,7^0 2020,009 298,057 360,536 644,772 723 b4i,4fi 152,293 598,596 1098,628 San Francisco 813 1,303 4i>,oij ojo,j>o 113,590 178,433 785,221 2685,504 649 53,364 945,179 2736,1^ 191,703 436,802 8,199 1,973 3,292 1,896 1,632 5,985 1,189 1,093 1,270 1*330 3,728 1,658 33,245 49,874,382 2708A73 .12,499,212 2865,086 4344,541 3238,007 2828,198 8462,557 1997,039 1128,292 2114,689 1926,433 5862,155 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 394,063 774,808 115,695 19,468 1:11 51,158,948 2772.289 111,622 5,454 112,793 23,039 36,570 IrM 17,620 20,683 54,539 13,260 % 9,052 ^ 16,343 3 22, ^1S ,922 % 12,860.956 2940,332 4463,276 3198,002 2895,764 8644,692 2040,756 1157,709 2168,136 1??8,648 6018,388 2/32,042 6,567 10,462 5,009 5,788 15,359 3,673 2,560 4,563 6,455 I&69C FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 28,567,010 1662,538 6,769,461 1814,189 2587,143 2125,183 1620,021 5327,459 1253,088 10,585,000 COQ COO 2.900,000 610,277 1125,351 837,417 2834,883 700,000 920,000 675,000 500,000 1900,000 430,000 180,000 300,000 250,000 1300,occ 44,175 — — — — 22,950 — 76,452 4,000,000 1200,000 1750,000 1490,000 1200,000 3700,000 935,000 450,000 870,000 625,000 18C0,CC( 6,900,000 1944,175 2670,000 2165,000 1700,000 5600,000 1387,950 630,000 1246,452 875,000 3100,CCC 143,577 19,270,000 1250,000 29,998,577 1780,000 l/ After deducting $i42,285,000 participations of other Federal Reserve Banks, 2/ After deducting $79,580,000 participations of other Federal Reserve Banks .
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