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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 26, 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 tank reserves held during the week ended May 25 decreased a net of $89 million to $18,146 million, which reflected in part a decrease of $93 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $49 million; and estimated excess reserves decreased $40 million to $423 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $21 million; the week before they were $92 million less than member bank borrowings. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $153 million in member bank borrowings and $107 million in U. S. Government securities held under repurchase agreement, and an increase of $147 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $91 million in U. S. Government securities bought outright and $28 million in Federal Reserve float, and decreases of $90 million in currency in circulation, $6l million in Treasury deposits with Federal Reserve Banks, and $59 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $142 million. As of Wednesday, May 25, holdings of U. S. Government securities bought outright were $63 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $58 million lower, and member bank borrowings were $109 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) * Less than $500,000. Averages of daily figures Week ended Change from week ended Wednesday May 25, May 18, j May 27, May 25, I960 i960 1 1959 i960 (In millions of dollars) 25,718 27 30 + 91 -107 - 1 402 1 1,161 27, 338 19,353 5,350 52,041 -153 + 1 + 28 -142 31,684 415 547 202 290 1,034 34,173 17,868 278 18,146 17,723 423 - 187 27 2 + + 25,718 * 29 + 1 -146 256 16 + 221 — 210 835 + 82 - 964 850 26,972 19,352 5,350 51,674 - 90 + 211 - 293 4 + - 79 - 73 210 439 31,660 4i4 504 217 292 l, 033 34,120 - 93 + 4 + 525 17,554 278 17,832 17,698 134 6 + 2 - 6l + 7 - 59 +147 - 53 - 89 - 49 - 40 375 - - - - + 278 247 340 93 » - On May 25, I960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,821 million, an increase of $31 million for the week and an increase of $1,117 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change since May 18, May 27, I960 1959 May 25, I960 18,115,643 943,060 19,058,703 404,859 375,881 374,870 - + + 5,000 2,857 7,857 1,195 4,730 109,254 — <•» 28,866 1,716,867 8,506,993 26,121,965 15 5,257,171 104,466 165,795 51,488,855 500 - 4* 63,200 — — «"— + • + 63,200 58,300 4,900 + 113,654 + ~ .1,106,072 818 19,386 976,536 - + - 12,334 89,899 18,297 10,485 131,015 818,442 + 809 994,998 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 397,931 774,808 87,115 51,488,855 + 41.6# + 168,616 + 46,350 + 44. - + - - 12 — «• -- - ~ + + - + • 18,450 976,536 • - 166,633 300 186,333 7,399 159,252 8,729 23,700 647,678 135,838 507,620 20,827 71,650 61,195 661,292 30,909 5,067 489,478 19,702 93,602 84,300 647,678 7$ .1# — 186,633 363,022 - - 58,066 11,838 178,662 2 1,975 «• m + + + 546,241 -10,142,733 +10,142,733 —* - 576,251 30,010 — «" 17,554,032 503,992 216,942 292,182 18,567,148 4,407,615 43,486 50,229,001 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - —— 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 27,210,752 - + + «•» ** 13,010,298 2,483,771 25,717,929 300 25,718,229 - + + - 91,545 360 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 25, 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 365,523 9,229 118 — -374,870 Acceptances 10,955 17,911 — — __ -28,866 U. S. Government securities 294,921 6,422,246 11,864,558 5,686,64? 1,178,574 271,283 25,718,229 E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE Phila- CleveBoston New York delphia land Richmond Atlanta Chicago (In thousands Total St. Louis Minneapolis Kansas City San Dallas Francisco ASSETS Gold certificate account 18,115,643 847,646 5,041,581 1064,248 1540,515 970,891 836,706 3318,866 653,433 305,615 675,446 612,405 2248,291 Redemption fund for F. R. notes 943,060 56,837 200,502 58,335 83,326 80,659 60,215 177,298 44,860 23,294 44,016 32,128 81,590 Total gold certificate reserves 19,058,703 904,483 5,242,083 1122,583 1623,84i 1051,550 896,921 3496,164 698,293 328,909 719,462 644,533 2329,881 F.R. notes of other Banks Other cash 404,859 375,881 26,936 22,950 110,557 72,765 21,297 15,245 24,269 35,528 29,980 20,723 75,209 31,847 19,868 6l,06l 11,800 20,939 8,534 9,315 18,248 13,809 21,538 15,443 36,623 56,256 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 374,870 19,420 21,465 16,880 19,420 40,218 44,200 45,545 14,219 50,425 56,176 33,202 13,700 Total U. S. Govt, sees. 28,866 28,866 1,716,867 92,264 428,241 98,301 147,508 108,669 94,137 293,856 69,392 39,840 73,689 69,190 201,780 8,506,993 457,166 2,121,916 487,076 730,895 538,450 466,447 1456,040 343,827 197,405 365,129 342,832 999,810 13,010,298 699,173 3,245,185 744,918 1117,806 823,487 713,368 2226,816 525,837 301,904 558,415 524,315 1529,074 2,483,771 133,478 619,532 142,211 213,398 157,210 136,188 425,117 100,386 57,636 106,606 100,096 291,913 25,717,929 1382,081 6,414,874 1472,506 2209,607 1627,816 1410,140 4401,829 1039,442 596,785 1103,839 1036,^33 3022^577 300 25,718,229 1382,081 6,415,174 1472,506 2209,607 1627,816 1410,140 4401,829 1039,442 596,785 1103,839 1036,433 3022,577 Total loans & securities 26,121,965 1401,501 6,465,505 1489,386 2229,027 1668,034 1454,340 4447,374 1053,661 647,210 1160,015 1069,635 3036,277 Due from foreign banks Cash items in process of collection Bank premises Other assets 5,257,171 364,948 1,002,428 338,396 445,103 4o4,378 431,027 842,840 216,914 147,013 280,824 259,531 523,769 104,466 4,155 9,702 3,923 9,067 6,443 10,4l8 19,637 6,892 4,969 4,566 12,809 11,885 8,834 40,476 9,356 14,623 10,445 165,795 9,742 27,456 6,547 3,839 7,972 6,918 19,587 TOTAL ASSETS 51,488,855 2733,808 12,943,520 3000,187 4381,459 3191,554 2909,505 8914,402 2015,046 1149,789 2204,897 2030,4o8 6014,280 15 1 3/ 4 l l l/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 1 2 (2) (2) 1 1 2 1.4.1(c) Total LIABILITIES ederal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Dther liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 25, I960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City San Dallas Francisco 27,210,752 1570,013 6,370,844 1770,265 2482,664 2018,655 1536,208 5158,4l4 1178,983 603,802 1092,394 772,965 2655,545 17,554,032 724,604 5,021,882 831,644 1356,143 733,351 895,834 2745,219 582,798 365,374 793,747 905,849 2597,587 108,129 26,005 30,754 28,696 18,500 74,591 26,853 22,052 38,270 45,132 61,557 503,992 23,453 4,715 8,405 9,225 10,660 28,290 6,765 216,942 10,045 1/70,367 12,095 19,270 215 786 607 ~ 241,519 1,741 740 1,997 1,066 571 621 18,567,148 758,709 5,441,897 871,485 1406,907 773,269 926,060 2848,671 617,037 392,356 841,208 963,714 2725,835 MM. 4,407,615 340,807 762,089 282,786 372,270 339,782 378,680 723,153 174,929 123,210 216,589 220,202 473,118 2,019 5,726 , . . , 1,325 1,810 1*638 43,486 2,300 10,663 2,171 3,990 2,396 2,351 7,097 50,229,001 2671,829 12,585,493 2926,707 4265,831 3134,102 2843,299 8737,335 1972,587 1120,693 2152,001 1958,900 5860,224 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 397,931 774,808 87,115 19,521 38,332 4,126 113,719 220,905 23,403 23,263 45,638 4,579 36,661 72,530 6,437 17,832 34,566 5,054 20,892 55,100 40,306 107,334 5,008 14,633 13,311 25,862 3,286 9,185 17,580 2,331 16,653 31,720 4,523 22,976 44,645 3,887 48,818 95,390 9,848 51,488,855 2733,808 12,943,520 3000,187 4381,459 3191,554 2909,505 8914,402 2015,046 1149,789 2204,897 2030,408 6014,280 168,616 8,261 j/48,067 9,947 15,848 7,587 8,767 23,267 5,564 3,878 6,913 9,779 20,738 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,249,120 1625,360 6,691,468 1816,231 2542,348 2085,911 1603,081 5270,610 1226,306 Collat. for F. R. notes: Gold certificate acct. 10,565,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 410,000 Eligible paper —— —— 16,880 —— —— —— —— 14,219 87,275 U. S. Govt, securities 19,145,000 1250,000 3.900,000 1200,000 1750,000 1465,000 1200,000 3700,000 935,000 Total collateral 29,797,275 1780,000 6,800,000 1916,880 2670,000 2i4o, 000 1700,000 5600,000 1359,219 1/ After deducting $146,575,000 participations of other Federal Reserve Banks. 2/ After deducting $120,549,000 participations of other Federal Reserve Banks 613,245 1125,914 820,269 2828,377 180,000 300,000 250,000 1300,000 56,176 450,000 870,000 625,000 1800,000 630,000 1226,176 875,000 3100,000
@FedFRASER