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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release March 31, 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 30 decreased $338 million to $17,8$0 million, which included a decrease of $334 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $176 million; and estimated excess reserves decreased $162 million to $291 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $311 million, compared with $134 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $347 million in Federal Reserve float and $84 million in Federal Reserve holdings of U. S. Government securities, and an increase of $28 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $137 million in currency in circulation. Total Reserve Bank credit decreased $4ll million. As of bought outright securities held bank borrowings Wednesday, March 30, holdings of U. S. Government securities were $157 million higher than a week earlier, U. S. Government under repurchase agreement were $2 million higher, and member were $453 million higher. 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 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) Averages of daily figures Week ended Change from week ended Wednesday March 30, March 23, | April 1, March 30, I960 I960 | I960 1 1959 (In millions of dollars) 25,234 5 33 - 56 - 28 - 228 - 27 + 3 25,264 2 32 602 6 + 15 + 6 -347 -411 - 1 +, 3 -409 10 - 12 - 100 - 373 -1,034 + 93 -1,314 815 20 823 26,956 19,408 5,340 51,704 -137 + 305 - 270 44 - 161 31,558 436 511 223 316 945 33,988 898 26,778 19,408 5,340 51,526 31,534^ 439 479 203 327 945 „ 33,926- . 17,600 250 17,850 17,559 291 - 11 + 28 + 23 + 22 + 1 - 75 - 185 - 236 - 591 -334 - 4 -338 - 723 + 250 - 473 -162 - 177 -176 - 296 17,716 250 17,966 17,545 421 On March 30, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,737 million, a decrease of $16 million for the week and an increase of $1,131 million from the comparable date a year ago. H.4.1(a) STA'l'EMEM1 OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) ASSETS 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 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 18,158,642 953,993 19,112,635 483,852 460,131 - - 1 4,526 4,527 11,446 8,222 472,718 834,605 + + 31,701 + 3 1,263,417 8,506,993 + 157,300 —-. 2,483,771 25,264,479 2,000 25,266,479 26,132,785 15 5,147,518 102,480 262,132 51,701,548 17,716,177 510,986 222,912 315,663 18,765,738 4,324,038 35,661 50,427,827 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 395,340 774,808 103,573 51,701,548 - + - + + + - —•» 13,010,298 LIABILITIES 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 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 April 1, March 23, I960 1959 March 30, I960 — — 157,300 + 213,583 -10,142,733 +10,142,733 - + + + 2,000 159,300 + + 632,021 + - - - + + 27,302,390 - + + + + + - + + 579,515 267,472 217 19,533 64,071 + + - 77,977 7,560 98,433 374,260 33,458 + 339,605 497,747 43,930 17,210 9,466 568,353 491,700 2,240 45,435 - - + - 202 + - - + + 213,583 2,000 211,583 -- - - - 781,248 33,406 747,842 35,990 42,104 477,340 5 1,720 - 18,434 64,071 - - 41.5* - •5* 146,560 + 20,060 + - - - - 376,250 22,881 74,378 64,333 537,842 48,052 9,507 236,782 20,550 93,602 64,426 374,260 1.4* 86,097 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 30, 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 804,695 9,840 20,070 -__ 834,605 Acceptances 10,174 21,527 — __ — 31,701 U. S. Government securities 76,736 911,231 14,284,443 8,544,212 1,178,574 271,283 25,266,479 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MARCH 30, I960 St. ClevePhilaAtlanta Chicago Richmond Hew York Boston Louis land delphia 5.4.1(b) Total ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis San Dallas Francisco Kansas City (In thousands of dollarsJ 18,158,642 799,521 5,221,911 1059,490 1680,784 987,138 854,058 2816,216 671,727 342,807 668,605 660,923 2395,462 206,313 58,282 85,142 76,745 62,071 179,396 45,454 22,744 44,512 32,539 82,776 953,-993 58,019 19,112,635 857,540 5,428,224 1117,772 1765,926 1063,883 916,129 2995,612 717,181 365,551 713,117 693,462 2478,238 F.R. notes of other Banks Other cash 483,852 460,131 31,388 29,607 119,560 78,221 20,546 25,045 30,660 40,791 30,420 31,905 94,175 34,169 28,642 83,574 13,793 25,120 12,457 11,853 18,307 16,866 31,214 18,100 52,690 64,880 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 834,605 48,019 33,550 19,475 32,240 70,453 73,030 312,514 42,985 46,605 109,181 31,993 14,560 Total U. S. Govt, sees. Total loans & securities Due from foreign "banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 31,701 31,701 317,942 72,048 109,384 80,969 66,587 218,638 51,383 28,776 54,459 50,428 144,307 1,263,417 68,496 8,506,993 461,207 2,140,802 485,120 736,518 545,197 448,352 1472,152 345,979 193,764 366,694 339,548 971,660 13,010,298 705,353 3,274,067 741,925 1126,406 833,804 685,695 2251,458 529,129 296,336 560,809 519,293 1486,023 ^ 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 625,046 2,483,771 134,658 136% 714 6 " , 557'857 1440/732 218^340 lbl9A50 1331^539 437^0b9 1027,50b 575,449 1009,025 100B,40b 2005,bo4 25,264,"¥79 2,000 2,000 " " H II II II II II II 25,266,479 1369,714 6,359,857 1440,732 2187,348 1619,150 1331,539 4372,069 1027,506 575,449 1089,025 1008,406 2885,684 26,132,785 1417,733 6,425,108 1460,207 2219,588 1689,603 1404,569 4684,583 1070,491 622,054 1198,206 1040,399 2900,244 15 1 1 / 4 5,147,518 356,804 4,224 102,480 262,132 14,159 1 1 1 1 2 2 / 2 / 1 1 2 954,789 317,560 453,287 389,625 440,394 862,792 225,679 135,474 236,116 240,836 534,162 4,985 4,594 12,438 11,990 9,783 3,969 9,144 6,522 10,200 17,708 6,923 5,942 12,121 10,715 30,274 64,904 14,893 23,162 16,698 14,469 44,294 10,501 51,701,548 2711,456 13,080,593 2959,993 4542,559 3228,657 2914,106 8717,207 2069,688 1158,316 2199,328 2047,165 6072,480 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. H.4.l(c) Total LIABILITIES 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 30, I960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars} Minneapolis Kansas City San Dallas Francisco 27,302,390 1566,709 6,400,972 1759,183 2499,035 2049,978 1535,412 5170,912 1193,346 597,273 1091,740 779,613 2658,217 17,716,177 711,337 5,151,790 812,246 1459,670 734,903 872,181 2584,104 600,755 386,666 808,479 932,469 2661,577 65,953 35,830 46,734 60,207 44,115 40,633 42,896 24,426 43,731 39,953 45,095 510,986 21,413 9,675 11,180 29,670 7,095 4,945 8,815 12,470 26,445 222,912 10,535 1/69,187 12,685 20,210 1,023 41,186 331 "262,608 2,097 1,460 3,345 1,106 1,063 197 179 1,068 315,663 18,765,738 743,616 5,549,538 862,858 1528,074 808,130 928,582 2655,470 650,943 416,216 862,093 985,915 2774,303 4,324,038 335,664 761,361 261,617 394,638 309,562 381,212 705,242 180,790 114,308 190,938 208,057 480,649 1,691 5,003 1,794 8,337 1,774 3,527 1,942 1,902 5,756 1,296 l,l6o 1,479 35,661 50,427,827 2647,783 12,720,208 2885,432 4425,274 3169,612 2847,108 8537,380 2026,375 1128,957 2146,250 1975,276 5918,172 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 395,340 774,808 103,573 19,506 38,332 5,835 112,980 220,905 26,500 23,214 45,638 5,709 36,590 72,530 8,165 17,641 34,566 6,838 20,771 54,698 40,306 307,334 5,921 17,795 13,295 25,862 4,156 9,168 17,580 2,611 16,350 31,720 5,008 22,933 44,645 4,311 48,194 95,390 10,724 51,701,548 2711,456 13,080,593 2959,993 4542,559 3228,657 2914,106 8717,207 2069,688 1158,316 2199,328 2047,165 6072,480 146,560 7,183 2/41,741 8,649 13,780 6,597 7,623 20,231 4,838 3,372 6,011 8,503 18,032 FEDERAL RESERVE AGENTS' ACCOUNTS 28,438,402 1641,293 6,754,370 1820,183 2571,214 2133,548 1599,653 5296,123 1244,746 607,753 1122,393" 829,069 2838,057 F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 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 1300,000 108,226 -18,295 -• -42,325 168,846 Eligible paper 625,000 1800,000 450,000 870,000 4,000,000 12.00,000 1750,000 1465,000 1200,000 3700,000 935,000 U. S. Govt, securities 19,245,000 1250,000 Total collateral 29,9957855_1780,000 6,900,000 1918,295^70,000 2140,000 1700,000 5600,000 1407,325 630,000 1278,226 875,000 3100,000 1/ After deducting $153,725,000 participations of other Federal Reserve Banks, 2/ After deducting $104,819,000 participations of other Federal Reserve Banks.
@FedFRASER