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H.4.1 BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 18, l$6l 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 May 17 increased a net of $l66 million to $18,913 million. Cash allowed as reserves increased $189 million and member hank reserve balances at the Federal Reserve Banks decreased $23 million. Estimated required reserves increased $15 million; and estimated excess reserves increased $151 million to $626 million. Excess reserves exceeded member hank borrowings at the Federal Reserve Banks by $453 million, compared with the revised figure of $4ll million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were a decrease of $76 million in Federal Reserve holdings of U. S. Government securities, and increases of $113 million in currency in circulation and $154 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $109 million in member bank borrowings and $234 million in Federal Reserve float* Total Reserve Bank credit increased $266 million. As of Wednesday, May 17, holdings of U. S. Government securities bought outright were $4ll million lower than a week earlier; U. S. Government securities held under repurchase agreement were $162 million higher, and member bank borrowings were $555 million higher. Outright holdings of bills and notes decreased $90 million and $2,017 million, respectively; certificates and bonds increased $1,644 million and $52 million, respectively. The decrease in notes and the increase in certificates included an exchange of $1,700 million maturing 3 5/8 per cent notes for the new issue of 3 per cent certificates; also $700 million of maturing notes were exchanged for the new 3 l/4 per cent issue due May 15, 1963* In addition, $295 million of maturing certificates and notes were redeeme^.erageg o f & a i l y figures Week ended Change from week ended Wednesday, Member bank reserves, May 17, May 18, May 10, May 17, Reserve Bank credit, 1961 1961 I I960 and related items 1961 (In millions of dollars? Reserve Bank credit: U. S. Government securities26,490 +1,056 -109 26,683 Bought outright—System account 177 92 42 + 33 Held under repurchase agreement + 9 - 1 40 37 Acceptances—bought outright Discounts and advances— 382 772 +109 173 Member bank borrowings 10 + 6 6 Other 1,211 + 104 +234 1,237 Float 28,697 + 700 +266 28,180 Total Reserve Bank credit 17,403 -1,964 + 5 17,395 Gold stock 5,425 + 2 5,424 ± 75 Treasury currency outstanding 51,525 -1,187 +2W 51,000 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) 32,081 424 550 206 304 984 34,549 16,451 2,462 18,913 18,287 626 +113 + 4 +154 + 2 + 23 - 23 +189 +155 + 15 +151 307 11 58 11 45 97 + 323 32,04l 434 496 206 -1,510 +2,188 16,990 .2,663 197^53 18,481 + + + + 510 168 282 1,076 3^535 1,172 On May 17, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,662 million, an increase of $2 million for the week and an increase of $872 million from the comparable date a year ago. H A.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THETW&LVE M6fi6RAL RESERVE BANKS (in millions of dollars) May 17, 1961 ASSETS 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 * 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 + 9 2 7 + -2,058 + 80 -1,978 399 782 37 - 10 + 560 2 + + + 2,405 6,561 14,489 - 90 +1,644 -2,017 ± 5 2 - 411 + 162 + 751 -1,946 +1,479 + 551 + 835 + 119 + 954 27,486 + 309 +1,478 (1,189) 5,127 108 168 (1,564) 50,377 + 819 + + + (375) 177 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 16,063 1,026 17,089 Change since May 18, May 10, I960 1961 (375) 27,135 16,990 496 206 282 17,974 (1,189) 3,916 46 (1,564) 49,071 - + 158 967 8 - + + - + 474 50 Ik 33 brn 5 k2 3 +1,014 + 28 516 8 - 232 4 22 214 + 284 - - + + - 576 98 29 21 724 158 4 278 C A P I TAL ACCOUNTS + Capital paid in 423 25 + 42 Surplus 817 Other capital accounts 66 47 3 + 967 214 TOTAL LIABILITIES AND CAPITAL ACCOUNTS (1,564) 50,377 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the fol- 3.956 lowing pages—not consolidated) .4f 37.6# Contingent liability on acceptances purchased + 144 1 for foreign correspondents 17 * 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, MAY 17, 1961 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government securities Changes Discounts and during week advances Acceptances Holdings Within 15 days -2,661 774 13 539 16 days to 90 days 8 24 6,137 3 91 days to 1 year * +1,689 7,447 Over 1 year to 5 years — — -+ 693 10,393 Over 5 years to 10 years 2,000 + 33 — «• Over 10 years 151 Total - 249 26,667 752 37 * Less than $500,000. — - • — mmm — «• H.4.l(h) STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BANK ON MAY 17, 19& Total Boston ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves New Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas Louis apolis City York delphia land mond (In millions of dollLars) San Francisco 16,063 1,026 17,089 804 59 &>3 4,058 237 4,295 954 62 1,016 1,312 89 1,401 975 81 1,056 797 63 860 2,790 182 2,972 648 >5 693 3^3 26 369 711 48 759 611 31 642 2,060 103 2,163 F. R. notes of other Banks Other cash 375 399 17 26 130 88 18 16 22 34 18 21 59 31 26 62 9 21 8 9 16 12 18 21 34 58 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 782 30 258 36 163 36 16 119 9 13 47 24 31 2,40$ 6,561 14,489 3,035 26,490 177 128 349 771 162 1,410 Total U. S. Government securities 26,667 Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 37 - • 37 -- -- -- 204 556 1,229 257 2,246 152 4l6 917 192 1,677 132 360 797 167 1,456 411 1,121 2,475 519 4,526 -- 288 787 1,738 364 3,177 1,155 1,076 3,177 633 1,202 1,100 3,208 269 7 6 176 5 3 322 5 7 262 14 7 699 11 20 2,080 1,203 2,323 2,064 6,193 139 379 837 175 1,530 1,410 6,728 1,530 2,246 1,677 1,456 4,526 1,066 620 27,486 1,440 7,023 1,566 2,409 1,713 1,472 4,645 1,075 6,316 108 168 448 4 8 1,218 9 42 405 4 10 546 8 16 457 6 10 500 12 10 1,014 23 29 51,941 2,806 12,805 3,035 4,436 3,281 2,944 8,771 -- - - - - 98 267 588 123 1,076 97 264 583 122 1,066 56 154 339 71 620 595 1,622 3,583 751 6,551 177 -- - - - — - - 105 286 632 132 1,155 -- H.4.1(c) STATEMENT OF COimiTION OF EACH FEDERAL RESERVE BANK ON MAY 17, l$6l Total Boston New York LIABILITIES Federal Reserve notes Deposits: Member hank reserves U.S. Treasurer-general account Foreign Other Total deposits 27,510 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 5,105 16,990 496 206 282 17,974 46 50,635 Phila- Cleve- RichSt. Minne- Kansas delphia land mond Atlanta Chicago Louis apolis City Dallas (In millions of dol]Lars) San Francisco 6,358 1,811 2,480 2,119 1,569 5,124 1,187 589 1,142 819 2,729 694 4,904 26 47 10 1/ 64 1 ~ 231 731 5,24b 75 6 47 11 2 816 1,294 47 18 1 1,360 684 50 9 3 746 844 15 10 1 870 2,518 59 28 2 2,607 597 31 7 * 635 406 18 5 1 430 834 35 9 1 879 898 42 11 1 952 2,561 79 24 38 2,702 428 828 330 472 354 431 847 212 153 245 218 587 2 13 2,744 12,445 3 2,960 4 4,316 2 3,221 3 2,873 7 8,585 2 2,036 1 1,173 2 2,268 2 1,991 5 6,023 117 229 14 24 48 3 39 75 6 19 37 4 23 44 4 60 116 10 14 27 3 10 19 1 18 35 2 24 47 2 55 100 15 2,806 12,805 3,035 4,436 3,281 2,944 8,771 2,080 1,203 2,323 2,064 6,193 2/ 40 8 14 7 8 20 5 3 6 8 18 FEDERAL RESERVE AGENTS' ACCOUNTS 6,680 1,865 2,620 2,195 1,634 5,240 1,230 666 1,170 862 2,861 2,000 1,700 380 9 935 1,324 180 300 47 900 1,247 275 1,000 1,583 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U.S. Government securities Total collateral / a* uv7u. ucuuuuiQg 423 817 66 51,941 20 4o 2 144 28,656 8,975 91 21,210 30,276 7 1,633 475 — — 1,275 1,750 5,100 7,100 650 35 1,325 2,010 870 670 475 mm — •mmm «••• 1,880 2,750 1,560 2,230 par vicipaGXons ox o^ner jj eaerai .Reserve mims< 2/ After deducting $io4 million participations of other Federal Reserve Banks. 1,200 1,675 mmm 3,800 5,500 510 690 «* «• 625 900 — — ' 2.100 3,100 *Less than $500,000.
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