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BOARD bF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 Foir Immediate Release Match 17, 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 t o t a l member bank reserves held during the week ended M&rch 16 increased $133 million t o $18,074 million, which included an increase of $ i l 8 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $12 million; and estimated excess reserves increased $121 million to $486 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $240 million, compared with $230 million the week b e f o r e . The p r i n c i p a l changes supplying average reserve balances with Federal Reserve Banks were increases of $78 million in U. S. Government s e c u r i t i e s bought outright, $96 million held under repurchase agreement,and $131 million in member bank borrowings, and a decrease of $96 million in Treasury 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 a decrease of $180 million in Federal Reserve f l o a t and an increase of $113 million in currency in c i r c u l a t i o n . Total Reserve Bank credit increased $122 m i l l i o n . As of "bought outright s e c u r i t i e s held bank borrowings Wednesday, March 16, holdings of U. S. Government s e c u r i t i e s were $135 million higher than a week e a r l i e r , U. S. Government under repurchase agreement were $119 million higher, and member were $360 million lower. Member bank reserves, Reserve Bank c r e d i t , and r elated 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 AcceptancesBought outright Held under repurchase agreement Loans, discounts, and a d v a n c e s Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Currency in 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 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 f i g u r e s Week ended Change from week ended Wednesday March 18, March 16, March 9, March 16, I960 1959 I960 I960 25, 313 131 34 + 78 + 96 - 2 * * 726 mm +131 - W - 106 + 79 — — * + 201 19 6 + 149 -1,033 + 91 - 793 994 27,197 19,409 5,335 51,941 -180 +122 - 3 + 2 +122 31,726 448 446 200 293 980 34,093 +113 + 13 - 96 - 27 + 5 + 439 - 279 + 9 90 47 - 234 - 202 17,849 225 18,074 17,588 486 +118 + 15 +133 + 12 +121 - 590 + 225 - 365 - 463 + 98 — — — *• On March 16, 1960, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $4,757 million, an increase of $83 million for the week and an increase of $756 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) Change since March lb, March 9, I960 1959 March 16, I960 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptance s - -bought outright 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 Total "bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s Total loans and s e c u r i t i e s Due from foreign 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 TOTAL ASSETS 18,158,644 958,519 19,117,163 473,143 446,910 385,052 - - 2 3,949 3,947 21,079 18,133 360,322 + + + - — 32,391 1,359,417 8,506,993 + 2,483,771 25,360,479 119,400 25,479,879 25,897,322 15 6,620,232 102,246 222,310 52,879,341 17,981,294 250,817 200,614 290,871 18,723,596 5,445,201 33,995 51,643,768 CAPITAL ACCOUNTS Capital paid i n Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 394,544 774,808 66,221 52,879,341 27,440,976 771,247 34,787 736,460 17,191 18,268 600,698 332 - 3 - 298 - 135,200 58,783 -10,142,733 +10,142,733 - - — 13,010,298 L I A B I L I T I E S Federal Reserve noteF ~ Deposits: Member bank reserves U. S. Treasurer—general 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 Ratio of gold c e r t i f i c a t e reserves t o deposit 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 for foreign correspondents Industrial loan commitments + - - —— + + + 135,200 - 119,400 254,600 + - 105,725 58,783 4l,4oo 17,383 618,711 — +1,856,761 + + 931 11,585 • + + +1,720,393 - + 620 + + 600,584 - 313,233 635 16,546 271,440 +1,496,576 750 +1,769,386 - + • - + - + + 481 + - - + - — 49,474 +1,720,393 - • - 41.4% - .3# - 110,535 - 1,087 + - - - - - 55,214 7,450 84,096 1,283,380 418,726 988,532 172,026 68,225 53,782 1,282,565 237,715 7,146 1,094,406 20,436 93,602 115,808 1,283,380 M 50,230 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH l 6 , I960 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 379,057 5,935 60 -— — 385,052 Acceptances 7,818 24,573 -— — — 32,391 U. S. Government securities 356,996 903,271 14,225,543 8,544,212 1,178,574 271,283 25,479,079 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 16, i960 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. notes T o t a l gold c e r t i f i c a t e reserves Minneapolis Kansas City Dallas 660,080 358,100 720,055 587,192 2478,471 179,828 45,579 22,838 44,615 965,692 3300,195 705,659 380,938 764,670 San Franciscc 18,158,644 854,506 958,519 58,268 19,117,163 912,774 F.R. notes of o t h e r Banks Other cash 473,143 446,910 30,667 28,937 122,622 83,136 20,847 24,079 28,110 39,012 38,991 30,826 88,283 30,969 26,097 82,629 9,363 23,869 10,441 10,674 17,628 15,123 14,669 62,987 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 385,052 24,275 31,231 17,080 9,820 11,703 36,944 158,828 14,200 23,500 29,416 24,355 3,700 4,780,011 1065,118 1625,943 1005,540 207,336 58,680 85,507 77,814 4,987,347 1123,798 1711,450 1083,354 32,391 903,261 3120,367 62,431 32,585 83,038 619,777 2561,509 30,769 49,325 32,391 1,359,417 8,506,993 73,700 461,207 13,010,298 705,353 2,483,771 134,658 25,360,479 1374,91tf 342,100 77,523 117,695 87,121 71,647 235,251 55,288 2,140,802 485,120 736,518 545,197 448,352 1472,152 345,979 3,274,067 741,925 1126,406 833,804 685,695 2251,458 529,129 625,046 141,639 215,040 159,180 130,905 429,821 101,015 6,302,015 1446,207 2195,659 1625,302 1336,599 4368,662 1031,411 119,400 30,963 58,597 54,260 155,272 193,764 366,694 339,548 971,660 296,336 560,809 519,293 i486,023 56,573 107,063 99,137 283,694 577,636 1093,163 1012,238 2896^649 119,400 T o t a l U. S. Govt, s e e s . 25,479,879 1374,918 6,501,415 1446,207 2195,659 1625,302 1336,599 4388,682 1031,411 577,636 1093,163 1012,238 2896,649 "Total loans & s e c u r i t i e s 25,897,322 1399,193 6,565,037 1463,287 2205,479 1637,005 1373,543 4547,510 1045,611 601,136 1122,579 1036,593 2900,349 Due from f o r e i g n banks Cash items in 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 6,620,232 461,209 1,331,123 396,988 599,748 501,293 578,282 1047,412 276,155 161,017 293,325 284,113 689,567 TOTAL ASSETS 52,879,341 2848,998 13,154,255 3045,534 4612,4l4 3312,186 3059,338 9059,002 2076,509 1174,301 2228,373 2007,124 6301,307 15 102,246 222,310 1 4,259 11,958 1 / 4 9,781 55,205 1 l 3,991 12,543 9,159 19,455 1 / A f t e r deducting $11,000 p a r t i c i p a t i o n s of o t h e r Federal Reserve Banks. 2 / Less than $500. 1 6,567 14,149 1 10,154 12,4l4 2 17,720 37,437 2 / 6,961 8,891 2 / 5,013 5,082 1 4,594 10,453 1 11,995 9,207 2 12,052 25,516 8.4.1(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 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 16, i960 PhilaSt. Boston New York delphia Cleveland Richmond Atlanta Chicago Louis (Inthousands of d o l l a r s ) 27,440,976 1574,882 6,425,956 1765,355 2514,375 2062,558 1546,920 5194,961 1202,178 Minneapolis Kansas City 599,791 1096,707 Dallas San Francisco 784,543 2672,750 17,981,294 768,512 4,918,572 872,006 1440,830 751,450 940,028 2763,606 615,122 392,866 848,147 888,944 2781,211 250,817 5,900 189,193 5,075 5,276 5,972 5,678 5,682 5,411 5,867 5,204 5,245 6,314 200,614 9,751 1/58,329 11,741 18,706 8,955 10,348 27,462 6,567 4,577 8,159 11,542 24,477 290,871 2,514 232,075 1,564 _ 658 4,206 1,332 1,793 329 232 1,493 565 44.110 W 7 2 3 , 5 9 5 786,677 5,398,159 890,386 1465,470 770,583 957,336 2798,543 627,429 403,542 863,003 906,296 2856,11? 5,445,201 423,942 970,091 315,711 515,392 420,534 488,228 887,164 203,973 l4l,4?2 215,941 244,4l8 618,335 33,995 _1,800 9,202 1,790 3,085 1,843 1,738 5,549 1,157 1,103 1,280 1,474 3,974 51,643,768 2787,301 12,803,418 2973,242 4498,322 3255,518 2994,272 8886,217 2034,737 ll45,9C8 2176,931 1936,731 6151,171 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r foreign correspondents 394,544 774,808 66,221 19,470 38,332 3,895 112,921 220,905 17,011 23,033 45,638 3,621 36,576 72,530 4,986 17,621 34,566 4,481 20,736 54,594 40,306 107,334 4,024 10,857 13,267 25,862 2,643 9,054 17,580 1,759 16,342 31,720 3,380 22,810 44,645 2,938 48,120 95,390 6,626 52,879,341 2848,998 13,154,255 3045,534 4612,4l4 3312,186 3059,338 9059,002 2076,509 1174,301 2228,373 2007,124 6301,307 110,535 5,444 F . R. notes outstanding 28,517,456 1655,555 C o l l a t . f o r F . R. notes: Gold c e r t i f i c a t e a c c t . 10,585,000 530,000 E l i g i b l e paper 60,561 — — U. S. Govt, s e c u r i t i e s 19,270,000 1250,000 Total c o l l a t e r a l 29,915,5^1 1780,000 l / A f t e r deducting $142,285,000 p a r t i c i p a t i o n s 2/ A f t e r deducting $79A37*OCO p a r t i c i p a t i o n s 2/31,098 6,555 10,444 5,000 5,777 15,332 3,666 2,555 4,555 6,444 13,665 FEDERAL RESERVE AGENTS' ACCOUNTS 6,755,436 1014,747 2580,188 2127,Il6~l620,210 5315,664 1248,766 610,703 1128,169 833,424 2827,478 2,900,000 700,000 920,000 675,000 500,000 i90o,ooo 430,000 180,000 300,000 250,000 1300,000 — — — 17,080 — — — — — — — l4,200 — — 29,28l — — — — 4,000,000 1200,000 1750,000 1490,0001200,000 3700,000 935,000 450,000 870,000 625.000 l800,000 67900,000 1917,080 2670,000 2165,006 1700,000 5600,000 1379,200 630,000 1199,281 875,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER