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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release September 1, 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 t o t a l member bank reserves held during the week ended August 31 increased a net of million t o $18, 408 m i l l i o n . Cash allowed as reserves increased $307 million, largely r e f l e c t i n g an estimate of the increase in currency and coin t h a t country member banks were permitted t o count as reserves beginning August 25; and member bank reserve balances at the Federal Reserve Banks decreased $303 m i l l i o n . Estimated required reserves decreased $105 million; and estimated excess reserves increased $109 million t o $574 m i l l i o n . Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $301 million, compared with the revised f i g u r e of $272 million the week b e f o r e . The figure f o r excess reserves, however, necessarily i s based in part on preliminary estimates of the credit received by country banks as the r e s u l t of the vault cash action. The p r i n c i p a l changes reducing average reserve balances with Federal Reserve Banks were decreases of $226 million in Federal Reserve f l o a t , $90 million in U. S. Government s e c u r i t i e s bought outright and $114 million held under repurchase agreement, and $20 million in gold stock, and an increase of $30 million in foreign deposits with Federal Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were an increase of $80 million in member bank borrowings and a decrease of $107 million in currency in c i r c u l a t i o n . Total Reserve Bank credit decreased $363 m i l l i o n . As of bought outright s e c u r i t i e s held bank borrowings Wednesday, August 31, holdings of U. S. Government s e c u r i t i e s were $57 million lower than a week e a r l i e r , U. S. Government under repurchase agreement were $56 million higher, and member were $167 million higher. Member bank reserves, Reserve Bank c r e d i t , and related items Reserve Bank c r e d i t : U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in c i r c u l a t i o n 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 d a i l y f i g u r e s Week ended Change from week ended Sept. 2, Aug. 24, Aug. 31, I960 1959 I960 (In millions of d o l l a r s ) 26,682 106 - 90 -114 + + 32 1 - 2 - 12 + 273 + 80 —— 32 65 26,640 122 11 32 1 - - - 692 * — — 788 27,882 r 19,00^J 5,370 52,258 -226 ^"63 - 20 + 4 -380 48 633 519 + 96 4056 31,980 . 396' ' 487 225 384 + 34,486 -107 - 4 + 2 + 30 + k - 2 - 77 17,772 636 18,4oS 17,834 574 -303 +307 + 4 -105 +109 794 + 636 158 331 + 173 1,014 Wednesday Aug. 31, I960 • - • - - 4- » 48 6 74 35 51 246 262 405 - - 707 27,907 1 9 '°°5 » 5,37i^- y 52,283- <0 32,025- 7 392 481 204 432 1,013 . 3515#-^" 17,735 636 18,371 17,850 521 On August 31, I960, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $5,423 million, an increase of $38 million f o r the week and an increase of $1,119 million from the comparable date a year ago. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves 17,735,643 973,095 10,700,730 Change since Sept. 2, I960 1959 - - * Aug. 31, I960 I H.4.1(a) 20,002 3,748 23,750 - 560,498 + 46,774 - 513,724 F. R. notes of other Banks Other cash 442,535 428,842 + 12,198 7,992 + + 30,511 48,095 Discounts and advances Acceptances: Bought outright Held under repurchase agreement U. S. Government s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 405,118 + 167,393 - 212,140 32,107 500 + - 1 2,731 + + 11,554 117 2,639,407 14,006,993 7,510,298 2,483,771 26,640,469 121,300 26,761,769 - 57,000 Total loans and s e c u r i t i e s Due from foreign tanks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,199,494 15 4,916,605 105,501 207,192 52,000,922 + —— — •» — - + - mm w 57,000 56,100 900 + + 9,993 83,050 73,057 163,763 - 127,412 •» «e — W + + 68,005 280 17,866 85,388 + + - 68,237 8,937 48,121 573,709 + 37,115 - L I A B I L I T I E S Federal Reserve note% ™~ Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 27,621,301 + 22, 580 17,735,276 481,413 204,398 431,820 10,052,907 4,209,4l4 4l,550 50,725,172 + 98,889 37,096 23,162 48,623 07,254 40,792 802 60,240 CAPITAL ACCOUNTS Capital'paid In™ Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 402,233 774,808 106,709 52,008,922 Ratio of gold c e r t i f i c a t e reserves t o deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased for foreign correspondents - + + - + + 170 + + - - + - + - + - —— 16,978 ...85,388 - - + 5,776 371,856 59,199 69,040 86,581 413,514 10,243 2,249 304,393 19,758 93,602 115,472 273,70% 7$ .1$ 40.3# 203, 578 9,993 +3,500,000 -3,500,000 + 131,956 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 31, I960 (Acceptances and s e c u r i t i e s held under repurchase agreement aire c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 400,207 4,849 62 --— 405,118 Acceptances ~ 7,459 25,148 ---32,607 U. S • Government securities 419,200 6,471,687 12,734,378 5,686,647 1,178,574 271,283 26,761,769 STATEMENT 1OF CONDITION FEDERAL RESERVE BANK ON AUGUST 31, I960 1 W i " I "" '"Phila1''OF EACHCleve i. • I St.e»4Chicago Atlanta Richmond Boston New York delphia Louis land . ( In thousands of d o l l a r s ) s.4.1(b) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves 17,735,643 822,4o8 4,917,209 59,796 216,146 973,095 18,708,738 882,204 972,629 1540,920 973,287 832,769 3167,739 686,419 59,052 86,087 81,589 62,038 178,532 43,848 5,133,355 1031,681 1627,007 1054,876 894,807 3346,271 730,267 Minneapolis Kansas City Dallas 343,684 688,432 23,680 45,221 San Francisco 630,380 2159,767 32,497 84,609 367,364 733,653 662,877 2244,376 F.R. notes of other Banks Other cash 442,535 428,842 52,786 31,488 86,147 83,085 44,832 21,633 14,452 38,212 25,216 21,924 71,717 35,835 29,925 66,071 14,177 25,261 24,757 9,362 20,293 15,855 16,405 17,439 41,828 62,657 Discounts and advances Acceptances: Bought outright Held under rep. agree. U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under r e p . agree. 405,118 17,600 86,305 4,065 30,525 49,115 18,750 112,243 13,850 11,645 37,845 14,351 8,824 2,639,407 14,006,993 7,510,298 2,483,771 26,640,469 121,300 Total U. S. Govt, sees. 26,761,769 1431,659 6,766,285 1525,127 2288,869 1686,208 1460,724 4559,729 1076,728 618,192 1143,436 1073,611 3131,001 Total loans & s e c u r i t i e s 27,199,494 1449,259 6,885,197 1529,392 2319,394 1735,323 1479,474 4671,972 1090,578 629,837 1181,281 1087,962 3139,825 Due from foreign banks Cash items in process of collection Bank premises Other a s s e t s TOTAL ASSETS 32,107 500 32,107 500 " 1/ 4 4,916,605 348,567 4,051 105,501 11,171 207,192 914,994 9,547 50,597 —- " 141,842 658,352 151,122 752,736 3,493,792 801,984 403,603 1,873,309 430,010 619,532 142,211 133,478 1431:659 6, 644,985 1525,327 121,300 1 15 - - 226,770 1203,439 645,262 213,398 2288,869 1 1 167,061 886,573 475,364 157,210 1686,208 1 144,721 768,017 411,798 136,188 1460,724 1 " " 451,756 106,678 61,24? 113,286 106,368 2397,409 566,121 325,032 601,194 564,482 1285,447 303,543 174,277 322,350 302,665 57,636 106,606 100,096 425,117 100,386 618,192 1143,436 1073,611 4559,729 1076,728 2 (2) (2) 1 1 310,204 1646,214 882,670 291,913 3131,001 2 300,561 412,790 380,081 370,962 798,941 206,274 143,519 257,043 265,471 517,402 4,926 4,524 13,438 11,722 3,856 8,833 6,295 10,623 20,949 6,737 4,775 9.898 8,468 24,323 11,811 18,254 12,996 12,075 34,555 8,269 52,008,922 2779,527 13,162,926 2943,767 4438,943 3236,712 2875,494 8968,686 2081,583 1184, 54o 2222,548 2072,06l 6042,135 1 / After deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / Less than $500. H.4.l(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH AUGUST 31, I960 St. ClevePhilaBoston New York delphia land Richmond Atlanta Chicago Louis Minneapolis Kansas City Dallas San Francisco L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treasgen.acct. Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 27,621,301 1595,793 6,427,631 1786,512 2512,155 2083,254 1570,965 5215,757 1188,032 594,742 1120,875 806,343 2719,242 17,735,276 481,413 204,398 431,820 18,852,907 4,209,414 744,118 5,135,208 784,276 1390,538 722,257 877,651 2782,091 642,815 403,885 796,927 917,860 2537,650 23,487 37,343 34,118 83,108 30,337 56,348 36,583 37,089 31,172 31,307 49,767 30,754 4,508 8,036 11,368 24,108 9,6o4 1/64,258 11,564 18,424 8,820 10,192 27,048 6,468 257 2,629 726 44,905 384 373,013 3,06l 1,171 3,489 760 905 520 784,443 5,628,827 835,484 1447,222 765,738 919,910 2859,811 680,557 432,137 844,935 964,072 2689,771 333,166 732,799 244,925 357,178 325,286 314,733 705,032 168,248 127,058 201,180 227,707 472,102 2,344 10,978 2,134 3,890 2,709 2,170 6,466 1,488 1,266 1,743 1,569 4,793 41,550 50,725,172 2715,74b 12,000,235 2869,055 4320,445 3176,987 2807,778 8787,066 2038,325 1155,203 2168,733 1999,691 5885,908 CAPITAL ACCOUNTS C a p i t a l paid i n Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r foreign correspondents F . R. notes outstanding C o l l a t . f o r F . R. notes: Gold c e r t i f i c a t e a c c t . E l i g i b l e paper U. S. Govt, s e c u r i t i e s Total c o l l a t e r a l 402,233 774,808 106.709 19,927 38,332 5.522 114,217 220,905 27,569 23,433 45,638 5.641 37,277 72,530 8,691 18,341 34,566 6,818 21,315 55,908 40,306 107,334 6,095 18,378 13,430 25,862 3,966 9,237 17,580 2,520 16,952 31,720 5,143 23,133 44,645 4,592 49,063 95,390 11,774 52,008,922 2779,527 13,162,926 2943,767 4438,943 3236,712 2875,494 8968,686 2081,583 1184,540 2222,548 2072,061 6042,135 203,578 9,962 2/58,219 11,995 19,110 9,148 10,572 28,055 6,709 4,676 8,335 11,791 25,006 FEDERAL RESERVE AGENTS' ACCOUNTS 28,662,756 1678,886 6,671,398 1831,949 2621,131 2151,053 1641,524 5337,103 1231,438 611,259 1150,337 847,004 2009,674 10,465,000 530,000 55,760 19.280.000 125P, 000 29,800,760 1780,000 l / A f t e r deducting $140, 140,000 p a r t i c i p a t i o n s 2/ A f t e r deducting $145, 359,000 p a r t i c i p a t i o n s 2,800,000 700,000 920,000 675,000 500,000 1900,000 410,000 180,000 300,000 250,000 1300,000 -37,845 — -4,065 ---— 13,850 4.000.000 1200.000 1750.000 1500.000 1200.000 3700.000 935,000 450.000 870,000 625,000 1800,000 6,800,000 1904,065 2670,000 2175,000 1700,000 5600,000 1358,850 630,000 1207,845 875,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER