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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I F6r Immediate Release March 24, 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 23 increase^ a net of $60 million to $18,169 million, which reflected in part an increase of $8$ million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $129 million; and estimated excess reserves decreased $69 million to $439 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $148 million, compared with $218 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $251 million in Federal Reserve float, and decreases of $55 million in currency in circulation and $36 million in "other" F. R. accounts (net). The principal offsetting changes were decreases of $139 million in member bank borrowings, $98 million in U. S. Government securities held under repurchase agreement and $23 million bought outright. Total Reserve Bank credit decreased $8 million. As of "bought outright securities held bank borrowings Wednesday, March 23, holdings of U. S. Government securities were $253 million lower than a week earlier, U. S. Government under repurchase agreement were $119 million lower, and member were $23 million lower. 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 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 (fash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. Averages of daily figures Week ended Change from week ended Wednesday March 16, March 25, March 23, March 23, I960 I960 I960 1959 (][n millions of dollars) t 25, 290 33 33 -- 587 - 23 - 98 - - - - 13 19 + 284 + 66 -1,033 + 91 - 876 362 -— 911 26,412 19,409 5,339 51,160 + 440 264 5 115 34 274 31,569 624 235 389 370 19 17,218 -139 + - 2 6 31,671 + + + - 55 2 5 20 12 36 92 17,934 235 18,169 17,730 439 - - +251 - 8 305 944 34,001 25,107 -- 1,245 27,189 19,409 5,337 51,935 451 171 16 1 •» * 180 - * - mm mm 450 - —w + 85 - 25 + 60 +129 - 69 - - - - + - 252 32 450 467 2 c6 306 943 33,9^1 235 17,453 17,655 -202 On March 23, i 9 6 0 , U. S. Government securities held in custody "by the Federal Reserve Banks for foreign account were $4,753 million, a decrease of $4 million for the week and an increase of $943 million frcm the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since March 16, March 25, i960 1959 March 23, i960 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 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 18,158,643 958,519 19,117,162 495,298 451,909 361,887 1 + + - - - + 1 22,155 4,999 + + 23,165 - - 781,251 37,643 743,608 33,674 27,116 227,249 11 C 1,106,117 8,506,993 - 25,107,179 -- 25,107,179 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~~not es Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 344,883 -10,142,733 +10,142,733 - - - 253,300 119,400 372,700 - 396,558 - 344,683 ~ 22,000 - 366,883 - 593,972 - 893,199 + 451 + 20,289 -1,241,864 + + - 597,417 7,675 91,444 580,254 27,335,848 - + 389,424 17,218,430 + + + - 205,702 306,197 18,197,385 4,815,738 33,421 50,382,392 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - - 165 25,500,764 15 5,727,033 102,697 242,599 51,637,477 467,056 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 253,300 - - 13,010,298 2,483,771 + 1 31,698 395,138 774,808 85,139 51,637,477 -- 105,128 762,864 216,239 5,088 15,326 526,211 629,463 574 -1,261,376 1,225,345 + 432,396 + 4,262 399,263 + + 594 — — • - - - + 18,918 -1,241,864 42.0# + .6# 126,500 + 15,965 - 975,847 49,561 134,519 65,4l8 20,696 93,602 108,085 - 580,254 - .8# + 65,794 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 23, 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 356,451 5,376 60 361,887 Acceptances 8,113 23,585 31,698 U. S. Government securities 160,196 729,371 14,223,543 8, 544, 212 1,178,574 271,283 25,107,179 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 23, ClevePhilaRichmond Atlanta Chicago New York Boston land . delphia (In thousands of dollars) B.4.1(b) Total 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 Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement I960 St. Louis Minneapolis Kansas City Dallas San Francisco 18,158,643 809,126 4,883,985 1028,485 1635A31 1041,755 879,004 3033,015 682,100 339,752 727,526 620,049 2478,415 207,336 58,680 85,507 77,814 62,431 179,828 45,579 22,838 44.615 32,585 83,038 958,519 58,268 19,117,162 867,394 5,091,321 1087,165 1720,938 1119,569 9^1,435 3212,843 727,679 362,590 772,141 652,634 2561,453 128,927 22,807 29,537 37,671 93,789 27,742 12,763 10,934 17,709 31,285 49,662 495,298 32,472 78,647 24,021 36,851 30,415 35,059 83,634 25,164 10,606 15,034 17,322 65,728 451,909 29,428 4,500 4,199 9,705 26,590 34,354 175,944 14,575 24,750 30,446 10,495 12,420 361,887 13,909 31,698 31,698 -- -- - • -- -- ~ 278,357 63,078 95,765 70,888 58,297 191,4l6 44,986 25,193 47,679 44,150 126,341 1,106,117 59,967 485,120 736,518 545,197 448,352 1472,152 345,979 193,764 366,694 339,548 971,660 2,140,802 8,506,993 461,207 741,925 1126,406 833,804 685,695 2251,458 529,129 296,336 560,809 519,293 1486,023 13,010,298 705,353 3,274,067 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107.063 99,137 283,694 625,046 2,483.771 134,658 1431,762 2173,729 1609,069 1323,249 4344,847 1021,109 571,866 1082,245 1002,128 2867,710 25,107,179 1361,185 6,318,272 Total U. S. Govt, sees. 25,107,179 1361.185 6.318.272 1431.762 2173.729 1609.069 1323.249 4344,84? 1021,109 571,866 1082,245 1002,128 2867,718 Total loans & securities 25,500,764 1375,094 6,360,465 1444,182 2183,434 1635,659 1357,603 4520,791 1035,684 596,616 1112,691 1006,327 2872,218 15 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 5,727,033 428,934 1,021,652 334,176 493,452 468,399 477,282 890,972 226,425 151,214 298,921 310,186 625,420 4,259 9,781 3,969 9,159 6,560 10,235 17,721 6,961 5,013 4,594 12,438 12,007 102,697 12.917 60.500 13.695 21.303 15,532 13,445 40,812 9,692 5,528 11,321 10,001 27,853 242,599 TOTAL ASSETS 51,637,477 2750,499 12,751,297 2930,016 4494,675 3313,806 2928,849 0794,517 2044,368 1142,501 2232,412 2040,194 6214,343 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 3.4.1(c) Total rvi.\vs.u. — V23, * STATEMENT OF CONDITION. OF EACH FEDERAL RESERVE' BANK OH iMARCH i960 St. ClevePhilaAtlanta Chicago Richmond New York Boston Louis land delphia Minneapolis Kansas City Dallas San Francisco L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,335,848 1567,370 6,405,339 1762,088 2507,177 2050,828 1538,600 5181,769 1195,932 599,062 1092,174 781,819 2653,690 17,218,430 674,711 4,815,886 778,177 1390,817 749,604 874,690 2553,081 590,486 358,479 813,155 880,294 2739,050 71,263 24,354 33,635 45,328 26,941 78,389 26,648 20,846 24,725 33,248 44,185 467,056 37,494 9,653 1/64,847 11,623 18^518 8,865 10,244 27,186 6,501 4,531 8,077 11,426 24,231 205,702 244 251,067 2,696 1,377 3,384 1,423 1,001 786 469 827 532 42,391 306,197 18,197,385 722,102 5,203,063 816,850 1444,347 807,181 913,298 2659,657 624,421 384,325 846,784 925,500 2849,857 4,815,738 396,627 778,829 275,892 424,184 396,104 409,192 771,201 180,269 129,097 239,893 260,236 554,214 1,693 8,352 1,675 3,242 1,833 1,707 5,491 1,164 1,084 1,287 1,531 4,362 33,421 50,382,392 2687,792 12,395,583 2856,505 4378,950 3255,946 2862,797 8618,118 2001,786 1113,568 2180,138 1969,086 6062,123 _ CAPITAL ACCOUNTS paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 395,138 774,808 85,139 19,500 38,332 4,875 112,980 220,905 21,829 23,198 45,638 4,675 36,590 72,530 6,605 17,629 34,566 5,665 20,768 54,682 40,306 107,334 4,978 14,383 13,292 25,862 3,428 9,163 17,580 2,190 16,340 31,720 4,214 22,818 44,645 3,645 48,178 95,390 8,652 51,637,477 2750,499 12,751,297 2930,016 4494,675 3313,806 2928,849 8794,517 2044,368 1142,501 2232,4l2 2040,194 6214,343 126,500 6,198 2/36,053 7,463 11,891 5,692 6,578 17,457 4,174 2,910 5,187 7,337 15,560 FEDERAL RESERVE AGENTS' ACCOUNTS E. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 28,490,594 1648,085 6,761,165 1822,978 2581,324 2121,468 1609,595 5302,615 1249,426 609,574 1126,550 831,180 2826,634 10,585,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 430,000 180,000 300,000 250,000 1300,000 — -12,420 --— — 14,575 ~~ 30,3H 57,306 1250,000 4,000,000 1200,000 1750,000 1490,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000 19,270,000 17007000^6,900,000 1912,420 2670,000 2165,000 1700,000 5600,000 1379,575 630,000 1200,311 #75,000 3100,000 29,912,306 1/ After deducting $140,855,000 participations of other Federal Reserve Banks, 2/ After deducting $90,447,000 participations of other Federal Reserve Banks.
@FedFRASER