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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 25, 1961 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 2k decreased $1 million to $18,912 million; cash allowed as reserves increased $10 million and member bank reserve balances at the Federal Reserve Banks decreased $11 million. Estimated required reserves increased $25 million; and estimated excess reserves decreased $26 million to $575 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $509 million, compared with the revised figure of $428 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $72 million in Federal Reserve holdings of U. S. Government securities and $107 million in member bank borrowings, and an increase of $91 million in "other" F. R. accounts (net). The principal offsetting changes were an increase of $71 million in Federal Reserve float, and decreases of $80 million in currency in circulation, $67 million in Treasury deposits with Federal Reserve Banks, and $24 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $110 million. As of Wednesday, May 24, holdings of U. S. Government securities bought outright were $216 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $136 million lower, and member bank borrowings were $566 million lower. Outright holdings of bills, notes, and bonds increased $153 million, $36 million, and $71 million, respectively, and certificates decreased $44 million. 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 Discounts and advancesMember 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 May 24, May 17, I May 25# 1961 1 I960 1961 (In millions of dollars) Wednesday, May 24, 1961 26,598 55 38 + 13 - 2 - 85 + + + 880 28 8 26,706 4l 37 66 5 1,308 28,070 17,403 5,426 50,899 -107 - 1 + 71 -110 + 8 + 2 -101 - 336 + 4 + 147 + 732 -1,950 + 76 -1,142 206 5 978 27,973 17,403 5,427 50,803 32,001 420 483 201 280 1,075 34,460 - 80 - 4 + + 317 5 64 l 10 + 41 + 287 31,951 428 484 200 282 1,073 34,418 -1,428 +2,172 + 744 + 621 + 123 16,386 16,440 2,472 18,912 18,337 575 - 67 - 5 - 24 + 91 - 89 - 11 + 10 - 1 + 25 - 26 2,737 19,123 18,339 784 On May 24, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,617 million, a decrease of $45 million for the week and an increase of $796 million frcm the comparable date a year ago. H.4.1(a) CONSOLIDATED STATEMENT OF CONDITION OF THE TWELVE FBEERAL RESERVE BANKS (Da. millions of dollars) May 24, 1961 A S S E T S Cold certificate™"account Redemption fund for F. R. notes Total gold certificate reserves Cash Discounts and advances Acceptances—bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities L I A B I L I T I E S Federal""Re serve-notes Deposits: Member hank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 17,095 398 (391) 8 211 37 - 6 1 571 I960 + 91 -1,964 + - + 22 164 8 2,558 6,517 14,525 3,106 26,706 41 26,747 + 153 44 + 36 + 71 + 216 136 + 41 +1,02? 26,995 491 + 873 857 + 19 -1,324 + + + - 252 4 21 792 (391) 27,041 - 94 + 235 16,386 W, - 604 12 6 - 622 20 17 10 -1,215 624 + 3 -1,337 + 124 + . 5 - 851 * Total loans and securities Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1961 + + 1,034 * Change since May 17, May 25, - + (l,0l6) 4,270 108 187 (1,40?) mm w 484 200 282 17,352 (1,016) 3,292 49 (1,407) 47,734 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts §0 423 817 , 79 k?,05j - m + 13 "1^24 + 841 -1,990 +1,515 + 622 + 988 -1,168 + + 25 42 - 792 8 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined (computed from figures as shown on the fol+ .6$ lowing pages—not consolidated) - 3-4# 38.2* Contingent liability on acceptances purchased + 6 for foreign correspondents 163 19 * 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 2k, 1961 (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 * Less than $500,000. Discounts and advances 555 3 * — Hi Acceptances 13 24 — 37 U. S. Government securities Changes Holdings during week 6,237 7,480 10,435 2,066 +100 + 33 + 42 + 66 26,747 rso STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 2k, 1961 H.4.l(b) New York 16,061 1,034 17,095 792 59 851 4,071 246 4,317 941 64 1,005 1,350 89 1,439 F. R. notes of other Banks Other cash 391 398 16 26 126 84 18 16 Discounts and advances Acceptances: Bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 211 7 65 2,558 6,517 14,525 3,106 26,706 4l 136 347 773 166 1,422 6,605 Total U. S. Government securities 26,747 1,422 Total loans and securities 26,995 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Cash items in process of collection Bank premises Other assets TOTAL ASSETS ii Philadelphia CleveSt. MinneAtlanta Chicago land Louis apolis (In millions of dol]Lars) Total Boston Dallas San Francisco 687 685 323 26 349 48 735 6l4 31 645 1,993 103 2,096 27 62 12 21 9 9 15 12 20 22 38 57 7 47 2 3 27 3 2 162 412 919 197 1,690 l4o 358 799 171 1,468 437 1,114 2,48l 531 4,563 103 262 585 125 1,075 60 152 340 73 625 112 284 633 135 1,164 104 126 1,085 590 307 782 1,742 372 3,203 2,264 1,690 1,468 4,563 1,075 625 1.164 1,085 3,203 1,555 2,289 1,700 1,475 4,610 1,077 628 1,191 1,088 3,205 1,108 9 44 334 k 10 419 370 809 12 23 32 208 7 7 155 5 k 276 18 415 12 11 246 14 8 569 11 23 12,436 2,942 4,232 3,205 2,871 8,601 2,017 1,159 2,243 2,043 5,999 2,857 181 64l 44 1,073 799 63 862 3,038 25 34 22 22 63 33 13 25 10 147 377 839 179 1,542 217 552 1,232 263 2,264 6,646 1,542 1,429 6,748 5,286 108 187 377 4 9 50,460 2,712 37 Kansas City 993 80 37 633 1,612 3,592 768 41 8 6 5 9 265 Elk. 1(c) STATEMENT OFCONDITION OF EACH FEDERAL RESERVE. BANK ON MAY 24, ,1961 Total Boston New York Phila- Clevedelphia land RichSt. Minne- Kansas mond Atlanta Chicago Louis apolis City Dallas San Francisco 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 27,432 1,578 6,356 1,811 2,473 2,110 1,559 5,111 16,386 484 200 282 17,352 676 24 10 710 4,572 ,75 1/59 229 4,935 734 30 11 1 776 1,221 24 18 1 1,264 675 40 9 1 725 832 37 10 1 880 2,516 62 28 1 2,607 4,308 358 771 276 369 306 358 49 3 49,141 2,649 11 12,073 3 2,866 5 4,111 3 3,144 423 817 79 20 40 3 117 229 17 24 48 4 39 75 7 50,460 2,712 12,436 2,942 163 8 2/46 9 * 1,182 588 1,136 815 2,713 58 9 23 7 l 620 382 22 5 409 791 36 8 1 836 894 4l 11 l 947 2,504 70 24 45 2,643 68 7 169 130 213 205 466 2 2,799 8 8,413 2 1,973 2 1,129 2 2,187 2 1,969 6 5,828 19 37 5 23 44 5 60 116 12 14 27 3 10 19 1 18 35 3 24 47 3 55 100 16 4,232 3,205 2,871 8,601 2,017 1,159 2,243 2,043 5,999 15 7 9 23 6 4 7 9 20 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collateral for F. R. notes: Gold certificate account Eligible paper U. S. Government securities Total collateral 28,622 1 , 6 2 6 6,682 1,869 2,6l6 2,191 1,629 5,227 1,233 664 1,170 860 2,855 8,975 40 21,210 2,000 650 12 1,325 1,987 870 670 475 1,700 300 26 900 1,226 275 — — 380 2 935 1,317 180 — •» 1,000 —w 2,100 3,100 475 - - — 1,880 5,100 1,275 1,560 30,225 1,750 7,100 2,230 2,750 * uvwiv. uxug tpj.TJ.JUiJ_LJ.UU UJ-U-tpU U-LUUS UAother Federal Reserve Banks. .2/ After deducting $117 million participations of other Federal Reserve Banks. 1,200 1,675 mm mm 3,800 5,500 •» 510 690 625 900 *Less than $500,000.
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