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H.4.1 For Immediate Release May 19, i960 BOARD ot1 GOVERNORS OF THE FEDERAL BStiilEVE SYSTEM WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, A i m 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 18 decreased $77 million to $18,23O million, which reflected in part a decrease of $120 million in member hank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $4l million; and estimated excess reserves decreased $36 million to $462 million. Member "bank "borrowings at the Federal Reserve Banks exceeded excess reserves Toy $93 million, compared with the revised figure of $51 million the week "before. The principal changes reducing average reserve "balances with Federal Reserve Banks were a decrease of $118 million in U. S. Government securities held under repurchase agreement, and increases of $104 million in Treasury deposits with Federal Reserve Banks, $51 million in currency in circulation, and $35 million in "other" deposits with Federal Reserve Banks. The principal offsetting change was an increase of $209 million in Federal Reserve float. Total Reserve Bank credit increased $109 million. As of Wednesday, May 18, holdings of U. S. Government securities bought outright were $32 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $124 million lower, and member bank borrowings were $502 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought 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 Foreigi deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Averages of daily figures Week ended Change from week ended May 20, May 11, May 18, 1959 I960 I960 (]Cn millions of dollars) 25,627 134 31 555 + l, 133 27,480 19,359 5,349 52,187 +209 +109 31,774 413 608 195 3^9 + 51 - 6 +104 887 17,961 269 18,230 17,768 462 + + 6 «• — 34,226 Member bank reserves: With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) 4 11 -118 - ~ + 1 +109 + 11 + 35 + 33 +229 -120 + 43 - 77 - 41 - 36 - 299 125 2 298 18 22 509 838 4- 85 -1,263 - + - + - • - + - 259 297 104 85 18 358 395 868 269 599 459 140 On May 18, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,790 million, a decrease of $90 million for the week and an increase of $1,1$4 million from the comparable date a year ago. E.4.1(a) STa'i^jEm' OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since 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 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~"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 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 May 18, May 11; I960 i960 18,120,643 - 945,917 - 2,000 1,918 19,066,560 4o6,054 371,151 265,616 3,918 2,151 2,895 ~ - W •» 502,876 29,366 - 500 1,653,667 + 32,000 2,483,771 25,654,729 58,600 25,713,329 - - - + + 27,257,102 17,566,366 593,891 235,239 302,667 + + - — — 32,000 123,800 + 91,800 - - 249,833 58,600 191,233 300,508 «•» «• 966,959 192 236,736 130,577 + + + - 464,264 7,744 16,799 293,930 • 36,702 + 222,838 - 546,044 - 556,427 125,644 60,272 82,225 573,280 259,852 4,648 85,942 - + - + + + 397,919 774,808 + 52,465,391 + 41.5% + 161,217 + + 595,176 5,226,057 42,677 51,223,999 68,665 249,833 - — — + 26,008,311 15 6,363,243 103,648 146,409 52,465,391 18,698,163 ~ + -10,142,733 +10,142,733 - - 13,010,298 + 571,250 29;600 541,650 53,067 6,354 110,863 2 1,590 - - «• — 8,506,993 May 20, 1959 89,230 62,896 31,869 425,787 648,385 1,243 187,139 180 W — - 56,742 130,577 .bio 2,377 — - - + + - + 20,065 - 93,602 134,451 293,930 - - + 88,081 - 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 18, 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 257,520 7,978 118 --265,616 Acceptances 10,191 19,175 — --29,366 U. S. Government securities 348,671 6,386,846 11,841,308 5,686,647 1,178,574 271,283 25,713,329 STATEMENT Minneapolis Kansas City 18,120,643 821,142 4,860,873 1026,005 1530,551 1011,189 331,847 749,514 647,060 2301,427 9^5,917 56,976 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 19,066,560 873,118 | Total 8 Boston CON OF EACH FEDERAL RESEWE BANK ON MAY l8, i960 St. PhilaCleveNew York Richmond Atlanta Chicago delphia land Louis (In thousands S H.4.1(b) 201,247 58,552 83,542 81,422 5,062,120 1084,557 1614,093 1092,611 852,778 3312,790 675,467 60,429 San Francisco Dallas 177,536 44,922 23,342 44,064 913,207 3490,326 720,389 355,189 793,578 32,175 81,710 679, 235 2383,137 F.R. notes of other Banks Other cash 4o6,054 371,151 28,316 22,995 114,920 74,482 21,723 15,338 22,340 33,378 28,802 17,713 75,113 30,727 21,834 60,041 10,965 21,487 7,841 9,249 15,628 14,232 22,163 15,692 36,409 55,817 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 265,616 27,990 10,665 14,175 13,770 18,233 36,490 42,420 4,730 19,380 33,380 30,533 13,850 29,366 29,366 88,868 1,653,667 8,506,993 457,166 13,010,298 699,173 2,483,771 133,478 25,654,729 1376,685 58,600 412,477 94,682 142,078 104,669 90,672 2,121,916 487,076 730,895 538,450 466,447 3,245,185 744,918 1117,806 823,487 713,368 619,532 142,211 213,398 157,210 136,188 6,599,110 1463,887 2204,177 1623,816 1406,675 — 283,039 66,837 1456,040 343,827 2226,816 525,837 425,117 100,386 4391,012 1036,867 38,373 70,977 66,643 194,352 197,405 365,129 342,832 999,810 301,904 558,415 524,315 1529,074 57,636 106,606 100,096 291,93^L 595,318 1101,127 1033,886 3015A49 58,600 Total U. S. Govt, sees. 25,713,329 1378,685 Total loans & securities 26,008,311 l4o6,675 6,497,741 1483,062 2217,947 1642,049 1443,165 4433,432 1041,617 614,698 1134,507 1064,419 3028,999 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 6,363,243 103,648 146,409 454,275 4,189 7,622 6,457,710 1468,887 2204,177 1623,816 14Q6,675 4391,012 1036,887 1 / 4 1,158,760 9,702 35,864 l 1 1 419,090 3,946 8,482 564,156 9,068 12,683 490,015 6,476 9,312 1 2 (2) 518,063 1019,077 258,769 10,430 18,652 6,893 8,697 24,024 5,746 595,318 1101,127 1033,886 3015,149 (2) 1 1 2 170,773 4,969 3,367 327,507 4,566 7,105 299,702 12,809 6,202 683,056 11,948 17,305 52,465,391 2802,191 12,953,593 3036,199 4473,666 3286,979 2999,403 9067,388 2065,866 1166,086 2297,124 2100,223 6216,673 1/ After deducting $11,000 participations of other Federal Reserve Banks 2/ Less than $500. H.4.1(c) - STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M ON MAY 18, i960 Total Boston | Nei, York j ^elpMa Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES R i c h m o n dA t l a n t a Chicago apSis ^ity" Dallas p (In thousands of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.8.Treas.-gen.acct. Foreign Other Total deposits °iZT 27,257,102 1573,283 6,368,005 1767,903 2489,360 2025,287 1544,362 5160,814 1183,169 604,770 1097,573 775,262 2667,314 17,566,366 593,891 235,239 302,667 18,395,153 709,293 46,170 10,584 812 766,859 4,979,857 63,414 1/80,799 246,449 5,370,519 5,226,057 398,755 850,740 805,660 1337,114 36,725 49,057 12,744 20,304 l,4l6 896 856,545 1407,371 722,997 55,821 9,720 2,403 790,941 899,113 2754,284 13,174 93,903 11,232 29,808 1,091 751 924,610 2878,746 592,822 35,318 7,128 598 635,866 355,636 26,819 4,968 306 387,729 835,743 41,897 8,856 1,827 888,323 922,798 2651,049 62,481 69,112 12,528 26,568 797 45,321 998,6c4 2792,050 337,039 412,094 462,989 203,571 143,646 257,494 253,648 459,008 846,966 600,107 42,677 2,256 10,989 2,287 3,846 2,361 2,219 7,053 1,484 1,285 1,644 1,939 5,314 51,223,999 2741,153 12,600,253 2963,774 4359,585 3230,683 2934,180 8893,579 2024,090 1137,430 2245,034 2029,453 6064,785 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 397,919 774,808 68,665 19,518 38,332 3,188 113,711 220,905 18,724 23,252 45,638 3,535 36,667 72,530 4,884 17,832 34,566 3,898 20,906 40,306 4,011 55,094 107,334 11,381 13,330 25,862 2,584 9,182 17,580 1,894 16,648 31,720 3,722 22,964 44,645 3,161 48,815 95,390 7,683 52,465,391 2802,191 12,953,593 3036,199 4473,666 3286,979 2999,403 9067,388 2065,866 1166,086 2297,124 2100,223 6216,673 161,217 7,899 2/45,959 9,511 15,153 7,254 8,382 22,245 5,319 3,708 6,609 9,350 19,828 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U» S. Govt, securities Total collateral 28,288,559 1633,546 6,699,311 1823,955 2547,782 2095,626 1612,757 5276,004 1229,796 615,351 1124,273 10,565,000 530,000 52,285 19,145,000 1250,000 29,762,285 1780,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 4io,ooo — 14,175 — ---4,730 3,900,000 1200,000 1750,000 1465,000 1200,000 3700,000 935,000 6,800,000 1914,175 2670,000 2140,000 1700,000 5600,000 1349,730 i8o,ooo 300,000 250,000 1300,000 -33,380 — 450,000 870,000 625.000 1800,000 630,000 1203,380 875,000 3100,000 _l/ After deducting $154,440,COO participations of other Federal Reserve Banks. 2/ After deducting $115,258,000 participations of other Federal Reserve Banks. 816,329 2813,829
@FedFRASER