The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Supplement to BANKING & MONETARY STATISTICS SECTION 14 Gold BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Preface In 1943 the Board of Governors published Banking and Monetary Statistics to make available in one place and on a uniform basis major series relating to banking, monetary, and other financial developments. The statistics usually covered the period from 1914, when the Federal Reserve System was established, through December 1941. To bring together for the period since 1941 the most important series in that volume, to revise the data previously published, and to present new series, the Board is publishing a series of pamphlets. Most of these pamphlets correspond to sections in Banking and Monetary Statistics, but some may cover new subjects. Most of the data included in these pamphlets have already been published in the Federal Reserve Bulletin, and current figures for most of the series are published in it each month. In some instances, however, the type of presentation may vary considerably from that in the Bulletin. This is one of the new pamphlets. As in Banking and Monetary Statistics, there is a brief description of the purpose and history of the data, the sources of the figures and the methods by which they were compiled, and other facts to guide the reader in using the figures. Much of the information that is customarily included in footnotes to tables has been incorporated in the text. Footnotes have been used for the most part to call the reader's attention to any lack of comparability of items over the period covered. Board of Governors of the Federal Reserve System Washington, D. C. August 1962 Price per copy, 35 cents. Contents Page INTRODUCTION 1 U. S. GOLD STOCK 1 NET GOLD PURCHASES OR SALES BY THE UNITED STATES 2 GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS 2 GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS 3 TABLES: 1. 2. 3. 4. Analysis of Changes in U. S. Gold Stock, 1941-60 Net Gold Purchases or Sales by the United States, by Countries, 1945-60 Gold Reserves of Central Banks and Governments, 1945-60 Gold Reserves and Dollar Holdings of Foreign Countries and International Organizations, 1949-60 KEYS TO SYMBOLS USED IN TABLES 5 7 12 16 24 i4. GOLD The statistics in this Section relate to the U. S. gold stock; U. S. foreign gold transactions; the distribution of gold reserves of central banks and governments of the free world; and the volume of the gold and shortterm dollar assets and U. S. Government bonds and notes owned by these countries and by international organizations. U. S. GOLD STOCK Before January 30, 1934, the gold stock of the United States consisted of gold coin in circulation in the United States and gold held by the Treasury and the Federal Reserve Banks. On that date, title to all gold owned by Federal Reserve Banks was transferred to the U. S. Government, while by a series of Executive orders in 1933 gold coin was retired from circulation. Since January 30, 1934, the U. S. gold holdings have included the Treasury gold stock and gold in the Exchange Stabilization Fund of the Secretary of the Treasury. Most of the Treasury gold stock, shown in Table 1, is held as security against a corresponding amount of gold certificates or gold certificate credits issued to the Federal Reserve Banks, for which the Treasury receives credit in its deposit account. This gold constitutes the monetary gold reserves behind the Federal Reserve note and deposit liabilities.1 A small amount of gold ($156 million) is held as a reserve against United States notes, and the 1 For a discussion of the relation of reserve banking to gold see The Federal Reserve System: Purposes and Functions (Washington, D. C, 1961), pp. 165-76; "Member Bank Reserves and Related Items," Section 10 of Supplement to Banking and Monetary Statistics (1962); and Annual Report of the Board of Governors of the Federal Reserve System for 1958, pp. 11-17. remainder ($121 million on June 30, 1962) is described as "balance of gold" in the "Daily Statement of the U. S. Treasury." The Exchange Stabilization Fund was established under the Gold Reserve Act of 1934 with a capital of $2 billion appropriated from the increment resulting from the reduction in the gold content of the dollar. This total was divided into two portions: one, amounting to $1.8 billion, was considered inactive; the remainder was held as a working balance. From 1934 until February 1947 the assets (entirely in gold) of the inactive portion of the Fund were included as a separate part of the Treasury gold stock; no gold certificates or gold certificate credits were issued against this gold. In February 1947 the United States used the inactive portion ($1.8 billion) of the Fund to pay a part of its subscription to the International Monetary Fund, in accordance with the Bretton Woods Agreement Act. However, only 25 per cent of the subscription ($687.5 million) was required to be paid in gold; the remainder was paid in U. S. dollar funds and nonnegotiable, non-interest-bearing special U. S. notes, and the Treasury was reimbursed by transfer of the remaining $1.1 billion of gold from the Exchange Stabilization Fund. The Treasury conducts most of its gold transactions with foreign monetary authorities through the Exchange Stabilization Fund. The Federal Reserve Bank of New York acts as the Fund's fiscal agent in these transactions. There are shifts of gold back and forth between the Fund and the Treasury gold stock to carry out these transactions. The assets of the Fund, including accumulated net earnings, were $340 million at the end of 1961, of which $58 million was in gold.2 Changes in the U. S. gold stock are accounted for mainly by gold transactions between the United States and foreign monetary authorities. Sales of gold by the Treasury for use in industry and the arts in the United States and Treasury purchases of gold from new production are also reflected in the data. The figures for net gold imports or exports shown in Table 1 are compiled by the Department of Commerce. The figures for earmarked gold, not included in the U. S. gold stock, represent gold held by the Federal Reserve Banks for foreign and international accounts. The combined net change in these two items does not always correspond closely with the data on U. S. foreign gold transactions for a given period (Table 2), in part because there are frequent lags in the statistics on imports and exports of gold. Also at times the Treasury may hold some gold under earmark abroad. Furthermore the statistics include—in addition to gold imported for sale to the United States or for earmark at the Federal Reserve Banks and exports of gold sold by the United States or from earmark—gold imported for refining and subsequent re-export. NET GOLD PURCHASES OR SALES BY THE UNITED STATES The United States buys gold from and sells gold to foreign governments, central banks, and by specific agreement, international organizations, for the settlement of international balances or for other legitimate monetary purposes, at the established rate of $35 per fine troy ounce (exclusive of handling charges). Table 2 shows data for net gold purchases or sales by the United States, by countries, annually for the period 1945-60 and quarterly 2 The gold in the Fund is not included in statistics on gold stock (Treasury gold) in the Federal Reserve weekly release (H.4.I.), "Factors Affecting Bank Reserves and Condition Statement of F. R. Banks"; in the table "Member Bank Reserves, Reserve Bank Credit, and Related Items" published in the Federal Reserve Bulletin; in the "Circulation Statement of United States Money" or the "Daily Statement of the U. S. Treasury" published by the Treasury. beginning with 1950. These data are published by the Treasury. GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS Table 3 shows quarterly data for gold reserves of 44 countries and one international and two regional organizations, as well as world totals. During World War II it was difficult to obtain reliable information on gold reserves, since many countries did not disclose their official holdings and a number of others reported figures that failed to disclose the full extent of their holdings. Hence no attempt has been made to show holdings before December 1945. In most foreign countries the central bank or bank of issue holds the country's gold reserves, but in several—mainly in Europe— both the central bank and an exchange stabilization fund or similar governmental authority hold the reserves. In others—Canada and the United Kingdom, for example—such authorities (the Exchange Fund Account and the Exchange Equalization Account) hold all of the gold reserves. The source of the gold reserve figures for most countries and the Bank for International Settlements has been either the balance sheet or statistical bulletin of the central bank. Figures for the International Monetary Fund and several countries have been obtained from the Fund's monthly bulletin, International Financial Statistics. Although most figures given are for the end of the month, figures for several countries, particularly Asian countries that do not issue end-of-month reports, refer to the last report date of the month. Gold reserves have been reported in three ways—in the currency of the country, in weight units, or in U. S. dollars. Reserves reported in foreign currencies have been converted into dollars at rates which result in a valuation of $35 per fine ounce. Where gold reserves have been reported in weight units, the conversions have been made at the rate of $35 per fine ounce. The figures for estimated total world reserves represent reported gold holdings of central banks and governments and of regional and international organizations; unpublished holdings of various central banks and governments; estimated holdings of the U. K. Exchange Equalization Account; and estimated official holdings of countries from which no reports have been received. The figures do not include amounts for the U.S.S.R., other Eastern European countries, or China Mainland. The figures for the most part represent physical gold, in the form of coin or bullion, held either at home or abroad. A number of European countries have gold deposited with the Bank for International Settlements, and they include these deposits as part of their gold reserves. To avoid overstating total world reserves, therefore, the figures included in Table 3 for the BIS represent the Bank's gold assets net of gold deposit liabilities. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS Table 4 provides data for foreign gold reserves and holdings of short-term dollar assets and for foreign holdings of U. S. Government bonds and notes, quarterly beginning with the end of 1949. For all but three countries the data for gold and short-term dollar assets shown in Table 4 represent a combination of data for gold reserves as shown in Table 3 of this Section and thefiguresfor short-term liabilities to foreigners as published in Tables 1-A through 1-D in "International Finance," Section 15 of Supplement to Banking and Monetary Statistics. The three exceptions are Japan, Panama, and the United Kingdom, for which gold reserves are not shown separately in Table 3. Panama has only a nominal amount of official gold holdings, and thus the figures shown in Table 4 for this country represent short-term dollar assets only. The areas shown in Table 4 of this Section differ from those in Tables 1-A through 1-D, of Section 15; in the tables in Section 15, Europe includes Eastern as well as Western Europe, and Latin America includes Western European dependencies located in that area as well as the Latin American republics. In Table 4, data for Europe and Latin America have been adjusted to exclude Eastern Europe and Western European dependencies located in Latin America; statistics for these countries are included under "all other." The figures for U. S. Government bonds and notes—representing securities with an original maturity of more than 1 year—have been based on two surveys of holdings of these securities and monthly reports on transactions. In the first survey selected banks in the United States reported the amounts of U. S. Government bonds and notes they were holding for foreign and international accounts as of the end of May 1955. These figures, together with monthly statistics on security transactions that first became available for January 1950, have been used to calculate holdings for the period from the end of 1949 through December 1960 (old series). A more comprehensive survey of holdings was made as of the end of November 1960. Figures for the new series for December 1960 shown in Table 4 were based on this survey and on reported transactions in December. 1. ANALYSIS OF CHANGES IN U.S. GOLD STOCK, 1941-60 [In millions of dollars] Gold stock (end of period) Year or month Total gold stock: increase, or decrease Earmarked gold2 Net gold import, or export (-) Decrease, or increase Month Amount (end of period) Treasury Total 1 1941.. 1942 1943 . 1944.. 1945 . 22,737 22,726 21,938 20,619 20,065 22,762 22,739 21^981 20,631 20,083 720 23 — 758 -1,350 — 548 982 316 69 -845 — 106 — 407 — 459 — 803 -460 — 357 2,215 2,674 3477 3,937 4,294 1946 1947 . 1948 1949.. 1950 20,529 22,754 24,244 24,427 22,706 20,706 22,868 24,399 24^563 22,820 623 3 2,162 ,1 531 'l64 — 1,743 312 1,866 1,680 686 — 371 466 210 — 160 — 495 — 1,353 3,828 3,618 3,778 4,273 5,626 22 695 23,187 22 030 21,713 21,690 22,873 23,252 22,091 21,793 21,753 53 379 — 1 161 -298 -40 — 549 684 2 16 97 618 -305 — 1 171 -325 -132 5 008 5,313 6 484 6,809 6,941 , 21,949 22,781 20,534 19,456 17,767 305 22,058 22,857 799 20,582 - 2 , 2 7 5 19,507 4 1 075 17,804 — 1,703 1942—Jan.. . 22,747 Mar.'.'. Apr... May.. June. July. . Aug... Sept... ^vrl" • Oct.. Nov.... Dec... 22',687 22,691 22,714 22,737 22,744 22,756 22,754 22,740 22,743 22,726 22,699 22,711 22,732 22,745 22,750 22,762 22,762 22,756 22,763 22,739 1943—Jan.. . Feb... Mar... Apr... May.. June.. July. . Aug... Sept... Oct... Nov... Dec. 22,683 22,644 22,576 22,473 22,426 22,388 22,335 22,243 22,175 22,116 22,065 21,938 1944—Jan.. . Feb... Mar... Apr..'. May.. June.. July. . Aug... Sept... Oct... Nov... Dec. 1945_jan.. . Feb... Mar Apr.'.'! May.. June.. July. . Aug... Sept... Oct... Nov... Dec... 1951 1952.. 1953 1954 1955 1956 1957.. 1958 1959 1960 . 318 600 -2,515 -1,323 — 1,982 6,623 6,023 8,538 9,861 11,843 -39 2,254 -6 7 -24 35 32 39 22 22 22 21 23 17 7 -66 -20 -38 -15 -24 -22 -28 -56 -11 -31 2^429 2,449 2,487 2,502 2,526 2,548 2,576 2,632 2,643 2,674 22,695 22,652 22,590 22,488 22,447 22,398 22,340 22,251 22,182 22,133 22,082 21,981 -44 -43 -62 -102 -41 -49 -58 -89 -69 -49 -51 — 101 34 23 3 -6 4 4 3 4 12 -3 -6 —4 -76 -63 -59 -101 -45 -52 -64 -91 -81 -40 -44 — 87 2,750 2,813 2,872 2,973 3,018 3,070 3,134 3,225 3,306 3,346 3,390 3,477 21,918 21,712 21,600 21 429 21,264 21,173 20,996 20,926 20,825 20,727 20,688 20,619 21,924 21,744 21,614 21 446 21,285 21,194 21,030 20,949 20,850 20,751 20,700 20,631 -57 -180 — 130 — 168 -161 -91 -164 -81 -99 -99 -51 — 69 -23 -125 — 102 — 139 -61 -61 -61 -109 -72 -63 -12 — 17 -28 11 — 48 — 71 -93 -6 -97 3 -28 -22 -35 -46 3,505 3,494 3 542 3 613 3,706 3,712 3,809 3,806 3,834 3,856 3,891 3,937 20,550 20,506 20 419 20^374 20,270 20,213 20,152 20,088 20,073 20,036 20,030 20,065 20,569 20,525 20 451 20,'391 20,287 20,294 20,196 20,118 20,093 20,120 20,076 20,083 -62 -44 — 74 -60 -104 7 -98 -78 -25 27 -44 7 1 2 — 19 2 -18 -84 -7 -12 13 -4 1 19 -58 -38 — 47 -53 -67 96 -100 -63 -19 35 -39 -4 3,995 4,033 4 080 4,133 4,200 4,104 4,204 4,267 4,286 4,251 4,290 4,294 22,782 ryj "79-5 2.Z, 1Z J For notes see following page. 106 104 260 302 333 20 -24 12 21 13 5 12 41 JJ Gold stock (end of period) Total gold stock: increase, or decrease Net gold import, or export (-) Earmarked gold2 Decrease, or increase Amount (end of period) Treasury Total 1 1946—Jan Feb Mar Apr May June.. July. . Aug... Sept. Oct.. . Nov Dec... 20,156 20 232 20,256 20,251 20,242 20,270 20,267 20,280 20,305 20,402 20 470 20,529 20,212 20 283 20,311 20,307 20,298 20,341 20,342 20,401 20 419 20,526 20 637 20,706 129 71 28 -4 -9 43 1 59 18 107 111 69 154 82 31 -21 — 27 36 6 15 —8 24 78 -61 — 12 —6 20 15 27 15 8 60 13 115 128 83 4,306 4,312 4^292 4,277 4 250 4,235 4,227 4,167 4,154 4,039 3,911 3,828 1947—Jan Feb Mar Apr May.... June.. July. . Aug... Sept... Oct . . Nov... Dec... 20,748 20,330 20,463 20,774 20,933 21,266 21,537 21,766 21,955 22,294 22,614 22,754 20,935 20,380 20,625 20,961 21,108 21,418 21,685 21,836 22,085 22,409 22,735 22,868 229 3 — 555 245 336 147 310 267 151 249 324 326 133 -17 20 154 44 130 200 219 112 110 451 266 178 196 — 685 204 272 13 119 26 43 153 —4 -83 -44 3,632 4 317 4,113 3,841 3,828 3,709 3,683 3,640 3,487 3 491 3,574 3,618 1948—Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 22,935 23,036 23,137 23,169 23,304 23,532 23,679 23,725 23,872 24,004 24,166 24,244 23,010 23,177 23,215 23,307 23,435 23,741 23,820 23,927 24,060 24,203 24,353 24,399 142 167 38 92 128 306 79 107 133 143 150 46 235 159 100 234 151 178 267 39 53 122 54 88 -15 -72 -64 -111 -3 81 -188 60 98 1 99 -46 3,633 3,705 3,769 3,880 3,883 3,802 3,990 3,930 3,832 3,831 3,732 3,778 1949_Jan Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 24,271 24,290 24,314 24,332 24,342 24,466 24,520 24,608 24,602 24,584 24,479 24,427 24,448 24,464 24,468 24,461 24,511 24,637 24,705 24,771 24,728 24,688 24,626 24,563 49 16 4 -7 50 126 68 66 -43 -40 -62 -63 66 21 20 14 9 7 131 257 98 56 8 -1 -2 -23 -16 -18 38 121 -20 -208 -155 — 89 -64 -59 3,780 3,803 3,819 3,837 3,799 3,678 3,698 3,906 4,061 4 150 4,214 4,273 1950—Jan . Feb Mar Apr May.... June.... July Aug Sept Oct Nov Dec 24,395 24,345 24,246 24,247 24,231 24,231 24,136 23,627 23,483 23,249 23,037 22,706 24,507 24,456 24,360 24,350 24,340 24,331 24,239 23,745 23,591 23,349 23,153 22,820 -56 -51 -96 -10 -10 -9 -92 -494 -154 -242 -196 -333 39 -2 53 13 10 -2 -42 -96 -93 -159 -93 — 94 — 50 -95 -60 -29 -18 -90 -431 -66 — 146 -36 -238 4,367 4^417 4,512 4,572 4,601 4,619 4,709 5,140 5,206 5 352 5,388 5,626 1951—Jan Feb Mar Apr 22,392 22,086 21,806 21,805 21,756 21,756 21,759 21,854 22,013 22,233 22,382 22,695 22,461 22,162 21,927 21,900 21,861 21,872 21,852 21,986 22,164 22,394 22,579 22,873 -359 -299 -235 -27 -39 11 -20 134 178 230 185 294 — 106 -108 -123 -111 -41 -38 -16 -4 11 -18 -2 7 — 248 -185 -111 102 -13 46 -8 137 176 244 188 290 5 874 6^059 6,170 6,068 6,081 6,035 6,043 5,906 5,730 5,486 5,298 5,008 m May.... ^* June.... July Aug Sept Oct Nov Dec 1. ANALYSIS OF CHANGES IN U.S. GOLD STOCK, 1941-60 — Continued [In millions of dollars] Gold stock (end of neriod^ Total gold stock: increase, or decrease (-) Earmarked gold 2 Net gold import, or export (-) Decrease, or increase (-) Amount (end of period) 137 153 -104 -75 27 19 -31 -33 -13 -93 — 29 -263 4,871 4,718 4,822 4,897 4,870 4,851 4,882 4,915 4,928 5,021 5 050 5,313 1 -1 -1 -172 -324 -106 -17 -49 -69 — 171 — 79 -55 -72 -36 -21 5,485 5,809 5,915 5,932 5,981 6,050 6,221 6,300 6,355 6,427 6,463 6,484 -47 -8 -1 48 -44 -12 -67 -63 -34 -36 -36 2 -6 2 5 2 1 3 2 2 1 2 2 1 -43 -10 -2 38 -49 -17 -72 -66 -34 -35 -37 2 6,527 6,537 6,539 6,501 6,550 6,567 6,639 6,705 6,739 6,774 6,811 6,809 21,786 21 788 21,763 21,724 21,727 21,730 21,734 21,732 21,745 21,747 21,751 21,753 -7 2 -25 -39 3 3 4 2 13 2 4 2 2 3 3 2 5 4 2 4 4 10 32 27 -10 -3 11 -7 -27 -24 6,819 6 819 6,847 6,889 6,890 6,891 6,891 6,894 6,883 6,890 6,917 6,941 21,755 21,757 21,765 21,792 21,821 21,868 2 2 8 27 29 47 11 19 11 10 25 18 -9 -15 -3 17 2 30 6,950 6,965 6,968 6,951 6,949 6,919 Month Treasury Total* 1952—Jan.. . Feb... Mar... Apr... May.. June.. July. . Aug... Sept... Oct.. . Nov . . Dec".. 22,951 23,191 23,291 23,297 23,296 23,346 23,350 23,344 23,342 23,339 23,338 23,187 23,055 23,378 23,428 23,450 23,502 23,533 23,537 23,528 23,526 23,521 23 505 23',252 182 323 50 22 52 31 4 -9 _2 -5 — 16 -253 64 150 157 97 27 37 24 3 33 83 1953—Jan.. . Feb... Mar... Apr... May.. June.. July. Au Bu "£ • n Sept Oct... . Nov... Dec... 22,986 22,662 22,563 22,562 22,537 22,463 22,277 22 178 22 128 22,077 22,028 22,030 23,079 22,751 22,649 22,639 22,590 22,521 22,353 22 275 22 220 22,146 22,112 22,091 -173 -328 -102 -10 -49 -69 -168 — 78 -55 -74 34 -21 -2 -2 3 7 1954—Jan.. . Feb... Mar... Apr... May.. June.. July. . Aug... Sept... Oct.. . Nov... Dec... 21,956 21,958 21,965 21,969 21,973 21,927 21,908 21,809 21,810 21,759 21,710 21,713 22,044 22,036 22,035 22,083 22,039 22,027 21,960 21,897 21,863 21,827 21,791 21,793 1955—Jan.. . Feb Mar... Apr... May.. June.. July. . Aug... Sept... Oct.. . Nov... , Dec... 21,714 21 716 21,719 21,671 21,674 21,678 21,682 21,682 21,684 21,686 21,688 21,690 1956—Jan.. . Feb... Mar... Apr... May.. June.. 21,693 21,695 21,716 21,743 21,772 21,799 8 -2 -28 -42 —1 —1 Total gold stock: Totali Earmarked gold2 decrease Net gold import, or export () Decrease, or increase Amount (end of period) Month * Includes gold in Exchange Stabilization Fund. 2 Not included in the gold stock of the United States. 3 Net after payment of $688 million as U. S. gold subscription to the International Monetary Fund. Gold stock (end of period) 1956—July.. Aug... Sept.. Oct.. . Nov.., Dec... 21,830 21,858 21,884 21,910 21,910 21,949 21,918 21,965 22,032 21,999 22,106 22,058 50 47 67 -33 107 -48 5 5 -18 5 13 3 44 43 87 -35 106 51 6,875 6,832 6,745 6,780 6,674 6,623 1957_jan.. . Feb... Mar.. Apr... May.. June.. July. . Aug... Sept... Oct.. . Nov.., Dec... 22,252 22,304 22,306 22,318 22,620 22,623 22,627 22,626 22,635 22,691 22,763 22,781 22,377 22,396 22,406 22,424 22,726 22,732 22,735 22,735 22,759 22,835 22,837 22,857 319 19 10 18 302 6 3 24 76 2 20 -54 -30 -9 21 20 10 3 29 19 43 34 19 296 28 16 -6 286 -6 -1 -11 -9 36 -31 2 6,327 6,299 6,283 6,289 6,003 6,009 6,010 6,021 6,030 5,994 6,025 6,023 1958—Jan.. . Feb... Mar.., Apr... May.. June.. July.. Aug... Sept.., Oct.. . Nov... Dec... 22,784 22,686 22,394 21,996 21,594 21,356 21,210 21,011 20,874 20,690 20,609 20,534 22,860 22,736 22,487 22,042 21,674 21,412 21,275 21,082 20,929 20,741 20,653 20,582 3 -124 -249 -445 -368 -262 -137 -193 -153 -188 -88 -71 45 39 6 26 18 3 18 4 71 5 12 12 -37 -168 -252 -471 -355 -285 -164 -197 -220 -189 -97 -80 6,060 6,228 6,480 6,951 7,306 7,591 7,755 7,952 8,172 8,361 8,458 8,538 1959_jan.. . Feb... Mar.., Apr... May.. June.. July.. Aug... Sept.., Oct.. . Nov... Dec... 20,476 20,479 20,442 20,305 20,188 19,705 19,626 19,524 19,491 19,585 19,566 19,456 20,527 20,520 20,486 20,358 20,227 19,746 19,672 19,568 19,579 19,647 19,617 19,507 -55 -7 -34 -128 -131 4-481 -74 -104 11 68 -30 -110 10 10 18 3 10 15 25 76 55 24 48 9 -65 -13 -48 -128 -136 -492 -98 -176 -36 52 -71 -112 8,603 8,616 8,664 8,792 8,928 9,420 9,518 9,694 9,730 9,678 9,749 9,861 I960—Jan.. . Feb... Mar... Apr... May.. June.. July.. Aug... Sept... Oct... Nov... Dec... 19,444 19,421 19,408 19,360 19,352 19,322 19,144 19,005 18,685 18,402 17,910 17,767 19,494 19,471 19,457 19,403 19,395 19,363 19,188 19,045 18,725 18,443 17,948 17,804 -13 -23 -14 -54 -8 -32 -175 -143 -320 -282 -495 -144 2 4 17 8 10 77 49 12 5 125 19 3 -12 -21 -14 -71 -14 -102 -222 -152 -319 -398 -512 -145 9,873 9,894 9,908 9,979 9,993 10,095 10,317 10,469 10,788 11,186 11,698 11,843 4 Includes payment of $344 million as increase in U. S. gold subscription to the IMF. 2. NET GOLD PURCHASES OR SALES BY THE UNITED STATES, BY COUNTRIES, 1945-60 [In millions of dollars at $35 per fine troy ounce] Annual totals Area and country 1945 Western Europe: Austria Belgium Denmark Finland, France Germany, Fed. Rep. of Greece Italy Netherlands.. Norway Portugal .. Sweden Switzerland Turkey , Latin American republics: Argentina -87 -10 131 4 116 238 10 56 407 -2 -12 -1 168 48 1,448 37 338 311 153 728 -225 .... -25 -2 -18 -85 . . . Total . All other: Congo Rep of the South Africa Surinam U.A R (Ecvpt) Other i Total Total foreign countries.... -10 18 -5 -30 2 3 -24 37 9 1950 1949 1952 -85 -14 -10 -10 -12 -130 -4 -114 41 -24 -5 -100 63 3 14 -35 -32 -15 -5 -30 5 -65 -5 -60 -20 -65 -3 -480 -94 4 -41 -6 16 -55 -4 1953 -10 -20 -5 -20 70 —7 -6 -34 -1 -80 -4 -15 -23 -38 5 -1,020 -65 -2 926 202 -1,397 293 326 3 -100 -10 7 -50 -20 10 734 114 -40 446 -50 -65 16 -10 7 -10 _2 45 62 _3 -16 -9 10 -473 171 808 -16 -185 -2 10 5 -10 28 ii -108 -8 -14 -50 2 —6 -118 -3 -65 82 -144 2 470 23 2 440 -85 1954 1955 1956 -6 3 — 13 -1,016 -226 -68 -10 c -55 -15 -16 -50 -34 15 -8 100 -20 9 4 3 -378 -78 80 15 -85 17 •5 115 18 -20 -8 -4 -3 -60 2 -23 -4 28 —4 88 -28 80 -15 22 15 -15 -5 -30 11 -172 -126 57 -132 62 14 -30 -45 -1 29 -200 -28 -2 -1 -7 -5 -4 -3 -4 -2 — 43 5 9 2 2 -189 14 1 -4 94 256 4 2 40 4 -453 -453 1951 —1 9 60 5 25 -4 7 8 -38 -73 6 Intl. Bank for Reconstruction and Development Intl. Monetary Fund 1948 . . Total For notes seep. 11. 265 17 Canada Grand total 223 -10 80 -30 n -48 Total Asia: Afghanistan . China Indonesia Iran... Israel Japan Lebanon . . . Philippines Saudi Arabia Syria Thailand Other 14 1947 —4 Bank for Intl Settlements Vatican City Brazil Chile Colombia Cuba Dominican Republic Ecuador El Salvador Mexico Peru Uruguay Venezuela Other 31 3 2 279 1946 -3 -2 4 -1 -6 -3 1 -1 -4 -1 -3 ~9 -3 -4 -1 -55 -39 -54 -7 -6 499 -2 196 -3 13 -8 52 -2 12 -10 3 38 2 4-2 -45 18 -76 4 -1 1 134 294 501 187 -17 -28 9 -10 -1 1 705 2,862 1,505 193 -1,725 75 394 -1,164 -327 -68 16 2 6-688 5 721 2,176 1,510 193 -1,725 75 394 -1,164 -327 -68 -4 -2 -10 -5 5 14 14 80 7 200 280 2. NET GOLD PURCHASES OR SALES BY THE UNITED STATES, BY COUNTRIES, 1945-60 — Continued [In millions of dollars at $35 per fine troy ounce] Quarterly totals Annual totals Area and country 1950 1958 1957 Western Europe: Austria Belgium Denmark Finland ... France Germany, Fed. Rep of Greece Iceland Italy . Netherlands Norway Portugal Spain Sweden Switzerland Turkey United Kingdom 3 7 Canada . ... Latin American republics: Argentina Bolivia Brazil Chile Colombia Cuba Dominican Republic Ecuador El Salvador M^exico Peru Uruguay Venezuela Other Total Asia: Burma Cambodia Ceylon Indonesia Iran Iraq Israel Japan. Lebanon Pakistan Philippines Syria Other Total 25 31 -30 -1 — 141 -15 -3 — 173 -34 -47 -3 -35 4 3 2 2 i -12 -13 -20 -29 -2 -56 -92 -12 -6 -80 -5 -15 -10 16 -25 4 -15 -15 -249 -20 32 -215 -10 -900 -350 -178 -324 -6 -550 -16 -36 -6 -1,718 -114 -3 20 1 -3 68 -2,326 -827 -13 3 2 -2 4 -4 -3 2 72 -4 75 3 3 j -580 -360 -400 -80 320 -12 -6 -34 -2 -25 -9 4 -143 -35 -655 -564 -593 -104 295 ~-l -30 4 3 —1 -1 81 69 -1 -20 — 15 -4 65 -2 -1 19 -100 630 5 695 -10 -38 20 -2 -4 1 -2 -16 -12 4 -20 14 — 10 8 4 -5 -50 -50 -2 -2 —6 -5 — 17 -13 -100 67 -15 5 -80 5 -24 -3 -62 -3 -27 -124 -15 -51 -56 -75 -237 -10 -20 -20 -41 -2 3 -2 -4 3 64 15 —1 28 30 73 12 26 -4 -12 -8 -2 —9 -11 _4 -25 -25 -30 -4 -30 -157 7 1 -15 -1 —4 -13 22 2 -11 -2 -2 18 172 Intl. Monetary Fund 600 772 j -3 1 1 -1 —4 —1 -24 -21 -3 -5 -3 -8 —1 -4 -2 -2 -34 -186 -113 -4 -6 -21 4 9 -1 -1 -3 -8 -1 -27 4 -3 1 -3 -5 -38 -20 7 -5 -2,294 -998 -1,969 -201 -30 8-44 7 300 -2,294 -1,041 -1,669 -201 -30 2 Total foreign c o u n t r i e s . . . . — 349 -261 -2 -32 -1 Total For notes seep. 11. -83 -39 -15 -5 — 266 1960 -4 All other: Congo Rep of the . . . . Ghana Morocco South Africa Surinam U A . R . (Egypt) Other 1 Grand total -17 -15 Bank for Intl. Settlements.... Vatican City Total -84 — 329 1959 1951 -1 -15 13 20 -25 -31 1 -25 19 3 -20 2 -26 -12 -10 19 -731 -762 -876 -56 291 716 -731 -762 -876 -56 291 716 -15 10 2. NET GOLD PURCHASES OR SALES BY THE UNITED STATES, BY COUNTRIES, 1945-60 — Continued [In millions of dollars at $35 per fine troy ounce] Quarterly totals 1952 Area and country 1 Western Europe: Austria Belgium. . . ... Denmark Germany, Fed. Rep. of Greece Netherlands Norway Portugal Sweden. S witzerl and Turkey United Kingdom Bank for Intl. Settlements.... Vatican City Total 4 1 -24 _7 -10 -36 — 13 -30 -100 -25 —5 -15 — 10 -20 -3 -320 -23 -40 -9 -120 -43 -226 -501 -102 -295 -20 2 -55 -20 -10 2 1 2 3 4 3 4 -12 -33 -40 -50 -40 -16 -140 -30 -15 -20 -5 -20 -10 -15 -8 -6 20 -3 -10 12 £ 23 2 -80 -2 520 2 553 Canada Latin American republics: Argentina Bolivia Chile Colombia El Salvador Mexico Uruguay Venezuela 3 2 1954 1953 -40 -15 -25 -15 — 10 -15 -8 -5 — 50 -19 4 -8 6 -118 -62 -72 13 2 -3 -8 3 -170 -74 7 2 ... Total Asia: Afghanistan Israel Japan Lebanon... Syria Total All other: Congo, Rep. of the South Africa Total Total foreign countries.... -18 11 10 2 -5 —4 101 2 -4 -25 5 -28 -10 —5 -5 80 -30 4 94 -2 -38 -97 -25 -10 8 2 52 —2 —1 -1 l{ j -1 -3 -2 -2 4 7 1 j -i - 1 -i -2 2 -1 o -1 -8 -10 -2 4 7 557 106 -1 -268 -599 -128 -307 -130 -63 -20 -172 -72 557 106 -1 -268 -599 -128 -307 -130 -63 -20 -172 -72 1 -10 -2 Intl. Monetary Fund Grand total 2. NET GOLD PURCHASES OR SALES BY THE UNITED STATES, BY COUNTRIES, 1945-60 — Continued [In millions o f dollars at $35 per fine troy ounce] Quarterly totals 1956 1955 1957 Area and country Western Europe: Belgium Denmark France 1 2 -23 10 -45 4 3 1 2 3 3 ... 3 4 3 7 — 34 5 -5 31 ... g 15 100 ... -37 Total 3 1 -42 1 2 1 -6 -33 Canada Latin American republics: Argentina Bolivia Chile. . . . . . Colombia El Salvador Peru Uruguay . . . Venezuela 20 55 1 119 30 15 5 40 10 10 3 11 20 11 2 27 -200 85 -133 4 3 6 13 Total -37 -37 47 -1 7 -1 15 -2 -2 -1 4 15 19 93 19 93 1 5 13 1 13 -42 9 1 Intl Monetary Fund Grand total 15 —2 -3 AH other: Other i Total foreign c o u n t r i e s . . . . 40 —4 . Total 15 28 2 . 31 6 3 3 Total -42 9 1 1 -20 20 80 42 18 7 25 7 75 7 75 7 25 300 300 5 95 155 25 342 318 1 For notes see following page. 2 20 Netherlands Portugal ... Spain Sweden . . . . Switzerland United Kingdom Vatican C i t y . . . Asia: Indonesia Iran Philippines . Other 1 4 10 2. NET GOLD PURCHASES OR SALES BY THE UNITED STATES, BY COUNTRIES, 1945-60 — Continued [In millions of dollars at $35 per fine troy ounce] Quarterly totals Area and country 1958 1 Western Europe: Austria Belgium. . . Denmark Finland France Germany, Fed. Rep of Greece Iceland Italy Netherlands Portugal Spain Switzerland. . . Turkey United Kingdom Yugoslavia Bank for Intl. Settlements Vatican City 2 -14 -144 -17 1960 1959 4 3 -26 -113 1 -58 -58 2 3 4 -39 — 39 -5 -43 -10 _5 -66 2 1 -26 4 3 -25 -200 -5 -83 -15 -3 -117 -34 -42 -110 -105 -33 -160 -7 -56 -15 —2 -42 -169 -63 —20 -124 -46 -56 -110 -10 -30 -25 — 10 32 20 -5 -135 -75 -300 -450 -50 -100 -61 _2 -28 -7 _1 -25 -498 -379 -38 -318 12 55 -200 Total -376 -74 —1 -1,073 1 -274 -197 -2 -576 -1,053 -30 -20 -200 3 -150 -2 -15 -81 -165 -6 -350 -12 -36 -5 -40 -49 Canada Latin American republics: Argentina Bolivia Brazil Chile .... El Salvador Mexico Peru Uruguay Venezuela Other 3 Total All other: Ghana . . . . Morocco Surinam U.A.R. (Egypt) Other i -20 . 12 -20 58 -23 -1 -20 -15 -4 -1 64 -1 -1 -36 -62 -4 -12 ... -8 -6 -4 —5 —7 -2 -30 -50 7 4 -45 —4 -62 -1 2 -23 2 -28 -15 — 13 5 -11 -2 t -2 -8 2 -23 -54 -50 -62 -20 -26 -19 -67 -6 -21 -3 -4 —2 -8 -1 —1 o 4 -2 -377 -1,081 -489 -347 -93 -377 -1,081 -489 -347 -93 -389 -359 -157 9-344 7 200 7 100 -732 -159 -57 -29 -42 -84 -632 -1,212 -42 -84 -632 -912 7 300 7 Proceeds from this sale invested by the IMF in U.S. Government securities; upon termination of the investment the IMF can reacquire the8 same amount of gold from the United States. Represents payment to the IMF of $344 million as increase in U.S. gold subscription less sale by the IMF of $300 million (see also note 7). 9 Represents payment of increase in U.S. gold subscription to the IMF. 1 Includes unspecified countries in Africa, Oceania, and Eastern Europe, and all Western European dependencies located outside Europe and Asia. 2 Includes purchase of $36 million from the U.S.S.R. 3 Includes purchase of $27 million from Poland. 4 Includes sale of $6 million to Czechoslovakia. 5 Includes purchase of $13 million of Rumanian-owned gold blocked under Executive Order No. 10,644, issued pursuant to 69 Stat. 562. 6 Represents payment of U.S. gold subscription to the International Monetary Fund. -10 - l 65 Intl. Monetary Fund Grand total -2 - l Total Total foreign countries -1 -6 Total . . . Asia: Burma Cambodia Ceylon Indonesia Iran Iraq .. ... Israel Japan Pakistan Philippines Saudi Arabia.. Syria Other j -io —i 11 3. GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS, 1945 60 [In millions of dollars] End of quarter Estimated total world* Intl. Monetary Fund United States Estimated rest of worldi Argentina Australia Austria Belgium Bolivia Brazil Canada Chile Colombia 1945—Dec 33,300 20,083 13,215 1,197 52 716 22 354 354 82 127 1946—Mar.. June. Sept.. Dec. 33,350 33,425 33,485 33,635 15 20,311 20,341 20,419 20,706 13,040 13,085 13,065 12,915 1,167 1,165 1,143 1,072 60 66 73 81 5 5 5 5 753 761 722 735 22 22 22 22 361 359 355 354 513 540 565 536 82 83 73 65 131 134 142 145 1947—Mar.. June. Sept.. Dec. 33,685 33,845 33,970 34,115 1,304 1,344 1,346 1,356 20,625 21,418 22,085 22,868 11,755 11,085 10,540 9,890 887 635 451 322 89 97 100 88 5 5 5 5 633 643 651 594 22 22 22 23 354 354 354 354 388 339 336 287 53 45 45 45 126 93 89 83 1948—Mar.. June. Sept.. Dec. 34,180 34,255 34,345 34,525 1,358 1,363 1,403 1,436 23,215 23,741 24,060 24,399 9,605 9,150 8,880 8,690 266 202 166 143 87 87 86 87 10 19 19 50 589 630 643 624 23 23 23 23 354 354 317 317 314 340 371 401 45 46 44 43 86 65 62 51 1949_Mar.. June. Sept.. Dec. 34,675 34,750 34,880 35,005 1,436 1,440 1,450 1,451 24,468 24,637 24,728 24,563 8,770 8,675 8,700 8,990 143 167 167 210 87 87 86 87 50 50 50 50 641 704 716 698 23 23 23 23 317 317 317 317 408 419 450 486 44 44 43 40 50 46 49 52 1950—Mar.. June. Sept.. Dec. 35,115 35,305 35,325 35,340 1,460 1,460 1,494 1,494 24,360 24,331 23,591 22,820 9,295 9,515 10,240 11,025 210 210 210 210 50 50 50 50 681 663 599 587 23 23 23 23 318 318 318 318 502 510 543 580 40 40 40 40 65 68 71 74 1951—Mar.. June. Sept.. Dec. 35,415 35,525 35,545 35,590 1,495 1,518 1,529 1,530 21,927 21,872 22,164 22,873 11,995 12,135 11,850 11,185 288 288 276 267 91 98 106 112 50 50 50 50 625 580 638 635 23 23 23 23 319 319 319 319 610 646 683 842 45 45 45 45 63 67 68 48 1952—Mar.. June. Sept.. Dec. 35,570 35,650 35,740 35,815 ,532 ,537 ,683 ,692 23,428 23,533 23,526 23,252 10,610 10,580 10,530 10,870 267 267 267 287 113 113 112 112 52 52 52 52 624 669 714 704 23 23 22 21 319 320 320 320 866 884 883 885 45 42 42 42 62 64 65 76 1953—Mar.. June. Sept.. Dec. 35,875 35,965 36,045 36,290 ,693 ,698 ,700 ,702 22,649 22,521 22,220 22,091 11,535 11,745 12,125 12,495 343 363 372 372 113 112 113 117 52 52 52 52 702 696 723 776 21 21 21 21 320 321 321 321 906 935 960 986 42 41 42 42 82 86 86 86 1954_Mar.. June. Sept.. Dec. 36,490 36,690 36,800 36,940 ,703 ,727 ,734 1,740 22,035 22,027 21,863 21,793 12,750 12,935 13,205 13,405 372 372 372 372 124 128 138 138 56 57 59 62 787 765 760 778 321 321 322 322 ,016 ,034 1,053 ,073 42 42 42 42 86 86 86 85 1955—Mar.. June. Sept.. Dec. 37,100 37,325 37,485 37,620 1,744 ,745 ,751 ,808 21,763 21,730 21,745 21,753 13,595 13,850 13,990 14,060 372 372 372 372 137 140 138 144 62 62 71 71 824 839 877 928 322 322 322 323 ,092 ,106 ,132 ,134 43 42 42 44 85 86 86 86 1956—Mar.. June. Sept.. Dec. 37,820 37,950 38,010 38,105 ,786 ,743 1,711 ,692 21,765 21,868 22,032 22,058 14,270 14,340 14,265 14,355 372 352 258 224 154 164 106 107 71 71 71 71 953 953 972 925 323 323 323 324 ,120 ,101 ,106 ,103 43 46 45 46 85 85 57 57 1957—Mar.. June. Sept.. Dec. 38,395 38,545 38,615 38,810 ,438 ,147 ,167 ,180 22,406 22,732 22,759 22,857 14,550 14,665 14,690 14,775 193 181 166 126 113 116 116 126 78 80 87 103 853 843 870 915 324 324 324 324 ,101 ,103 ,102 ,100 46 43 40 40 57 58 58 62 1958—Mar.. June. Sept.. Dec. 38,960 39,130 39,310 39,490 ,186 1,242 ,307 ,332 22,487 21,412 20,929 20,582 15,285 16,475 17,075 17,575 126 125 114 60 136 147 154 162 103 103 136 194 998 1,140 1,228 1,270 324 325 325 325 ,089 ,077 ,078 ,078 40 40 40 40 65 67 70 72 1959—Mar.. June. Sept.. Dec. 39,650 39,885 40,025 40,185 ,352 ,910 2,052 2,407 20,486 19,746 19,579 19,507 17,810 18,230 18,395 18,270 57 57 57 56 163 135 143 154 212 256 291 292 1,246 1,270 1,254 1,134 326 326 326 327 ,072 ,073 ,039 960 40 40 41 43 73 74 69 71 1960—Mar.. June. Sept.. Dec. 40,355 40,565 40,690 40,525 2,454 2,515 2,564 2,439 19,457 19,363 18,725 17,804 18,445 18,685 19,400 20,280 56 55 84 104 163 149 159 147 292 292 293 293 1,183 1,191 1,094 1,170 294 286 287 287 950 909 894 885 41 42 42 45 73 73 75 78 87 For note see p. 15. 12 3. GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS, 1945-60 — Continued [In millions of dollars] Dominican Republic Ecuador Germany, Federal Rep. of Cuba Denmark 1945_Dec 191 38 21 13 3 1,548 28 1946—Mar June Ser>t Dec 201 201 211 226 38 38 38 38 13 1 1,118 1 019 23 22 23 2 21 18 18 21 12 867 1947 Mar June SeDt Dec 229 259 279 279 32 32 32 32 2 2 2 2 20 20 20 20 15 741 15 15 15 680 494 549 279 289 289 289 32 32 32 32 5 4 4 4 20 21 21 21 15 15 15 15 4 6 6 6 1949 Mar June Sept Dec 289 289 299 299 32 32 32 32 4 4 4 4 21 21 21 21 14 14 17 17 1950—Mar.. June Sent Dec 299 299 291 271 32 31 31 31 4 4 4 4 20 19 19 19 271 281 311 311 31 31 31 31 6 8 8 12 1952—Mar June Sent Dec 321 318 280 214 31 31 31 31 1953—Mar June Sept Dec 196 196 196 186 1954—Mar Finland Guatemala India Indonesia 28 274 200 28 274 200 28 28 274 274 200 200 19 28 274 200 16 27 274 180 15 15 14 27 27 27 274 274 274 180 180 180 550 567 548 548 9 7 6 6 27 27 27 27 274 274 264 256 180 180 180 178 6 6 6 6 548 524 537 543 4 5 5 6 27 27 27 27 247 247 247 247 178 178 178 178 19 20 20 23 8 10 10 12 569 565 594 662 5 5 4 2 27 27 27 27 247 247 247 247 178 178 188 209 22 22 22 22 23 26 26 26 14 20 20 26 747 746 734 597 28 4 5 4 4 27 27 27 27 247 247 247 247 228 229 229 280 12 12 12 12 22 22 23 23 26 30 29 29 26 26 26 26 566 586 589 582 28 92 118 140 9 9 10 10 27 27 27 27 247 247 247 247 280 280 280 235 31 31 31 31 12 12 12 12 23 23 23 23 29 29 29 29 26 26 26 26 597 598 593 617 185 210 259 325 10 11 11 11 27 27 27 27 247 247 247 247 208 208 163 145 186 186 186 186 31 31 31 31 12 12 12 12 23 23 23 23 29 29 29 29 26 31 31 31 644 695 688 708 391 418 574 626 11 11 11 11 27 27 27 27 247 247 247 247 98 81 81 81 186 186 186 136 31 31 31 31 12 12 12 12 23 23 23 23 29 29 31 31 768 955 714 761 11 11 27 27 247 247 81 81 28 28 32 35 1,038 942 825 920 11 11 27 27 247 247 81 81 1956—Mar June Sept Dec 136 136 136 136 31 31 31 31 13 13 13 11 23 23 22 22 28 28 28 28 35 35 35 35 1,002 1,036 965 924 1,003 1 104 1,294 1,494 11 11 11 10 27 27 27 27 247 247 247 247 81 54 46 45 1957—Mar June Sept Dec 136 136 136 136 31 31 31 31 11 11 11 11 22 22 22 22 32 35 893 27 247 43 35 35 35 867 581 581 1,756 2,029 2,399 2,542 11 31 31 31 11 13 13 27 27 27 247 247 247 40 41 39 1958—Mar Sept Dec 136 136 135 80 31 31 31 31 11 11 11 11 31 31 31 31 35 35 35 35 580 653 726 750 2,460 2,575 2,597 2,639 13 13 14 17 27 27 27 27 247 247 247 247 39 38 38 37 1959 Mar June Sept Dec 76 75 75 50 31 31 31 31 11 11 12 10 22 22 22 22 22 20 20 20 31 31 30 30 38 38 38 38 812 899 921 1,290 2,678 2,704 2,621 2,637 20 25 26 26 27 25 24 24 247 247 247 247 37 41 41 33 I960 Mar June Sent Dec 19 19 3 1 31 31 31 31 10 10 10 10 20 20 20 20 30 30 30 30 38 38 38 41 1,322 1,551 1,627 1,641 2,670 2,772 2,888 2,971 26 26 31 76 24 24 24 24 247 247 247 247 33 33 33 58 End of quarter 1948 Mar June Sept Dec 1951—Mar June Sent Dec . . ... Sept Dec 1955—Mar June Sept Dec . . El Salvador 13 13 13 France 944 Greece 3. GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS, 1945-60 — Continued [In millions of dollars] 24 28 28 Netherlands New Zealand Norway Pakistan Peru Philippines Portugal 294 270 23 80 28 435 257 235 213 181 270 270 265 265 23 23 23 23 80 80 88 91 28 23 24 24 442 439 433 433 149 131 100 100 197 190 191 232 23 23 23 23 76 77 73 72 20 20 20 20 402 388 344 310 194 184 174 167 23 23 23 23 66 66 65 52 11 14 20 20 20 20 286 261 246 236 206 196 183 178 149 150 142 142 2 2 2 142 142 140 140 58 58 58 96 2 87 71 44 42 140 140 140 140 100 126 256 256 2 n a n.a. 13 39 32 38 52 167 167 162 195 23 26 26 27 52 52 51 51 25 27 27 27 20 20 20 28 140 140 140 140 256 256 256 256 13 20 20 20 68 71 115 208 231 231 231 311 27 28 29 29 50 50 50 50 27 27 27 27 28 28 28 31 2 2 3 3 177 177 177 192 .. 139 138 138 138 256 256 281 333 21 24 26 26 304 205 191 208 311 311 311 316 30 31 31 32 50 50 50 50 27 27 27 27 46 46 46 46 4 5 6 7 202 217 234 265 .• 138 138 138 138 346 346 346 346 27 29 29 31 185 70 87 144 340 344 326 544 32 33 33 33 50 50 50 50 38 38 38 38 46 46 46 46 7 8 9 9 274 274 277 286 1953—Mar June Sept Dec 137 137 137 137 346 346 346 346 33 34 35 35 179 172 155 158 605 615 723 737 33 33 33 33 55 55 55 52 38 38 38 38 46 46 45 36 9 9 9 9 305 324 337 361 1954 Mar June Sept Dec 137 138 138 138 346 346 346 346 45 46 46 63 162 57 60 62 772 777 796 796 33 33 33 33 47 47 45 45 38 38 38 38 36 36 35 35 9 9 9 9 386 393 416 429 138 138 138 138 8 346 346 346 352 63 67 67 74 64 78 141 142 798 804 804 865 33 33 33 33 45 45 45 45 38 38 48 48 35 35 35 35 10 11 13 16 438 436 427 428 Sept Dec 138 138 138 138 8 8 8 14 352 353 360 338 74 74 74 77 164 165 166 167 875 853 854 844 33 33 33 33 45 45 46 50 48 49 49 49 35 35 35 35 17 18 20 22 431 436 442 448 1957—Mar June Sept Dec 138 138 138 138 14 14 14 20 364 364 428 452 84 84 84 91 166 165 182 180 814 806 700 744 33 33 33 33 45 46 45 45 49 49 49 49 35 35 35 28 23 26 20 6 461 458 467 461 138 138 138 141 25 25 25 34 462 607 847 1,086 91 91 91 91 158 153 147 143 847 910 956 1,050 33 33 33 33 43 43 43 43 49 49 49 49 20 20 20 19 8 11 14 10 454 474 486 493 1947 Mar June Sept Dec 1948—Mar June Sept Dec 1949—Mar June Sept Dec 1950 .. . .. . . . Mar . Sept Dec . 1951—Mar June Sept Dec 1952—Mar June Sept Dec 1955—Mar June Sept Dec ... ... . .. . . •. . 1956—Mar 58 58 58 to 2 2 ototo 131 124 124 123 149 Mexico tOtO 0000 . Lebanon J\ X Mar June Sept Dec Italy to 1945 Dec 1946 Iraq toto Iran End of quarter 1958—Mar June Sept Dec ... 1959—Mar June Sent Dec . .. 140 140 140 140 34 34 84 84 1,190 1,311 1,476 1,749 102 102 102 102 142 160 165 142 1,164 1,164 1,162 1,132 34 34 34 34 43 43 30 30 49 50 50 50 19 19 19 28 7 10 7 9 501 512 525 548 I960—Mar June Sept Dec . ... 131 131 131 130 84 84 84 98 1,902 1,997 2,186 2,203 102 102 102 119 142 142 121 137 1,164 1,231 1,346 34 34 35 35 30 30 30 30 52 52 52 52 28 28 27 42 12 16 13 15 549 549 550 552 14 3. GOLD RESERVES OF CENTRAL BANKS AND GOVERNMENTS, 1945-60 — Continued [In millions of dollars] End of quarter South Africa Spain Sweden Switzerland Thailand Turkey U.A.R. United (Egypt) Kingdom2 Uruguay Venezuela Bank for Intl. EPUEF4 Settle-3 ments 1945—Dec. 914 110 482 1,342 86 241 52 2,476 195 202 33 1946—Mar. June 1,014 1,046 Sept. Dec. 970 939 111 111 111 111 478 473 472 381 1,361 1.376 1|412 1,430 86 86 86 78 241 240 237 237 52 52 52 53 n.a. 2,301 n.a. 2,696 195 204 205 200 212 215 215 215 34 34 33 26 1947_Mar. June Sept. Dec. 803 757 805 762 111 111 111 111 265 168 93 105 1,432 1,355 1,386 1,356 78 78 78 78 233 191 169 170 53 53 53 53 2,380 2,410 2,383 2,079 197 189 183 175 235 235 215 215 21 21 23 25 1948—Mar. June Sept. Dec. 438 373 269 183 111 111 111 111 97 85 81 81 1,353 1,345 1,371 1,387 78 78 78 78 171 164 160 162 53 53 53 53 2,241 1,920 1,777 1,856 200 203 181 164 240 263 304 323 34 24 32 31 1949_Mar. June Sept. Dec. 166 149 121 128 111 111 111 111 80 71 70 70 1,408 1,419 1,485 1,504 78 78 78 118 162 160 159 154 53 53 53 53 1,912 1,651 1,425 1,688 164 161 177 178 323 323 373 373 42 51 48 54 1950—Mar. June Sept. Dec. 166 177 179 197 111 111 111 111 69 71 87 90 1,527 1,559 1,529 1,470 118 118 118 118 154 149 146 150 80 83 98 98 1,984 2,422 2,756 3,300 190 189 217 236 373 373 373 373 56 46 46 53 1951—Mar. June, Sept. Dec, 205 210 210 190 111 111 111 111 114 129 128 152 1,448 1,451 1,446 1,452 118 115 113 113 150 150 150 151 118 143 174 174 3,758 3,867 3,269 2,335 295 280 252 221 373 373 373 373 61 70 40 47 26 65 1952—Mar. June, Sept. Dec, 169 148 158 170 111 111 111 127 214 213 202 184 1,432 1,408 1,404 1,411 113 113 113 113 150 150 146 143 174 174 174 174 1,700 1,685 1,685 1,846 211 211 211 207 373 373 373 373 44 44 60 47 154 216 184 158 1953—Mar. June Sept. Dec 174 175 175 176 128 130 130 130 194 193 206 218 1,418 1,441 1,456 1,459 113 113 113 113 144 144 143 143 174 174 174 174 2,166 2,367 2,486 2,518 217 222 222 227 373 373 373 373 78 63 70 75 153 153 153 153 1954_Mar. June, Sept. Dec 177 187 195 199 130 132 132 132 218 219 219 265 1,469 1,469 1,503 1,513 113 113 113 113 144 144 144 144 174 174 174 174 2,685 3,017 2,901 2,762 227 227 227 227 373 403 403 403 71 71 76 76 153 153 153 153 1955—Mar. June, Sept. Dec, 203 212 214 212 132 132 132 132 265 264 264 276 1,499 1,485 1,513 1,597 113 113 112 112 144 144 144 144 174 174 174 174 2,667 2,680 2,345 2,120 227 227 216 216 403 403 403 403 99 111 112 121 153 153 212 244 1956—Mar. June. Sept. Dec. 212 215 214 224 132 132 132 132 273 257 263 266 1,608 1,571 1,634 1,664 112 112 112 112 144 144 144 144 174 174 174 188 2,277 2,385 2,328 2,133 216 216 214 186 403 403 403 603 105 68 37 59 262 282 244 268 1957_Mar. June. Sept. Dec. 233 234 215 217 132 132 132 101 252 231 235 219 1,625 1,622 1,713 1,706 112 112 112 112 144 144 144 144 188 188 188 188 2,209 2,381 1,850 2,273 183 183 183 180 669 669 719 719 30 27 12 24 229 254 1958—Mar. June. Sept. Dec. 193 159 188 211 101 101 101 57 203 204 204 204 1,708 1,857 1,934 1,925 112 112 112 112 144 144 144 144 174 174 174 174 2,770 3,076 3,120 3,069 180 180 180 180 719 719 719 719 26 -18 -40 -42 126 126 126 126 1959—Mar. June. Sept. Dec. 193 201 225 238 57 57 57 68 204 205 191 191 1,935 1,909 1,900 1,934 112 112 112 104 144 144 144 133 174 174 174 174 3,139 3,172 3,284 2,736 180 180 180 180 719 719 719 652 -45 24 -9 -134 25 24 26 40 I960—Mar. June. Sept. Dec. 256 240 204 178 78 78 98 178 171 171 171 170 1,777 1,774 1,980 2,185 104 104 104 104 133 133 133 134 174 174 174 174 2,780 2,892 3,108 3,231 180 180 180 180 652 512 462 398 17 -103 -79 -19 39 48 53 55 1 Excludes U.S.S.R., other Eastern European countries, and China Mainland. 2 Through September 1958, represents Exchange Equalization Account reserves of gold and U.S. and Canadian dollars, as reported by the British Treasury; thereafter represents EEA gold and convertible currency reserves. 3 Represents net gold assets of BIS, i.e., gold in bars and coins and other gold assets minus gold deposit liabilities. 4 European Payments Union through December 1958 and European Fund thereafter. 15 4. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS [End of quarter ; in millions of dollars] 1949 1950 4 Area and country 92 818 70 31 715 149 Finland 36 . . . . Sweden Turkey Other2 Total - ... . . . Latin American republics: Argentina Cuba . Peru ... . . . . 18 Total foreign countries 4 International Grand total 4 Memorandum item: 398 10,033 520 1,876 426 1,479 654 8,301 1,359 253 411 1 431 448 36 459 110 145 484 479 37 443 102 122 536 512 42 505 117 137 552 43 544 120 127 530 39 45 51 267 74 81 2 2 3 12 1 43 62 55 244 81 80 10 4 7 5 2 48 1 2 2 3 14 1 536 457 117 209 120 184 2,154 162 2,662 335 120 4 560 487 130 216 124 197 2,129 158 3,103 311 8,938 240 1,340 328 9 4 8 5 1 50 4 9 3 8 5 2 58 5 18 12 4 217 9 3 43 4 1 58 132 19 25 47 47 52 224 74 78 2 11 2 3 14 1 255 490 79 46 44 50 291 72 86 1 291 475 82 2 311 458 91 3 2 11 2 2 15 1 47 39 52 415 59 91 2 11 2 15 248 483 86 1 22 3,047 24 3,034 38 3,269 40 3,439 61 2 309 206 2 298 220 2 303 261 2 303 324 2 16 18 157 400 291 142 16 18 155 467 293 148 2 20 158 526 321 153 2 19 160 587 377 166 1 2 19 522 8 469 9 461 8 447 8 417 9 1,964 44 1,974 45 2,042 32 2,169 31 2,334 32 119 109 107 103 134 115 303 13 192 141 325 107 8 182 137 304 14 213 162 325 15 241 174 336 9 671 8 732 13 765 14 803 15 858 9 14,951 449 15,413 556 16,119 652 17,595 910 18,143 1,276 3,109 159 3,094 188 3,031 242 3,076 249 3,022 276 18,060 608 18,507 744 19,150 894 20,671 1,159 21,165 1,552 2,707 112 3,035 124 3,501 130 3,947 139 4,433 146 For notes see p. 23. 9,478 146 46 161 298 143 Total 124 10 92 715 76 30 923 222 34 571 505 94 238 132 205 2,023 164 3,557 452 214 Japan South Africa U A R (Egypt) Other3 18 10 5 1,355 157 340 All other: 16 44 85 711 67 26 842 286 7,911 310 194 Total 14 4 5 114 4 221 Indonesia Thailand Other 16 37 85 768 67 26 784 228 103 10 5 1 51 3,050 Total. 2 4 5 516 410 129 213 123 175 2,101 164 2,212 334 10 4 7 1 Asia: 4 560 366 120 216 127 160 2,016 164 1,924 347 236 516 81 Venezuela Other 93 800 61 27 726 180 5 37 510 101 138 463 Brazil Chile El Salvador Guatemala 3 2 U.S. Gold & U.S. Gold & Gold & Gold & U.S. U.S. Gold & U.S. Govt. shortGovt. shortshortshortGovt. Govt. shortGovt. bonds term bonds term term term bonds bonds term bonds dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes Western Europe: Germany, Fed. Rep. of Greece Italy .. Netherlands Norway 1 16 4. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS —- Continued [End of quarter, in millions of dollars] 1952 1951 I Area and country Western Europe: Austria Belgium Denmark .. Finland Prance Germany Fed Rep of Greece Italy Netherlands Norway Portucal Spain .. Sweden Switzerland . . . Turkey United2 Kingdom 1 Other Total Canada Latin American republics: Arcentina Bolivia Brazil Chile Colombia Cuba Dominican Republic El Salvador Guatemala .. Mexico Panama Republic of Peru Uruguay Venezuela Other Total Asia: India Indonesia Iran . Japan Philippines Thailand Other Total Gold& shortterm dollars 95 746 79 33 980 242 38 562 510 104 255 128 219 1,953 167 4,014 Gold& U.S. Govt. shortbonds term & notes dollars 20 13 4 236 9 2 43 4 1 56 94 704 76 43 992 110 263 129 228 1,960 162 4,145 403 147 26 10,528 561 10,673 1,439 626 1,610 388 11 11 4 250 9 2 33 4 55 107 771 76 43 957 503 45 569 446 153 282 125 217 1,958 162 3,613 6 8 4 211 10 1 4 4 51 362 110 8 525 10,389 497 1,706 121 24 107 770 76 53 886 434 50 633 465 150 306 128 224 1,973 165 2,843 9,661 2,149 588 517 49 51 26 2 11 2 2 15 2 2 3 15 1 2 1 28 2 1 28 2 2 4 14 1 2 419 99 154 575 58 54 54 366 68 93 306 445 2 106 756 70 53 817 390 50 638 490 154 316 129 276 1,977 161 2,284 6 9 4 210 10 1 4 4 1 45 505 113 7 405 9,172 100 2,206 1 2 5 14 9,467 421 2,387 117 456 414 1 44 47 1 2 401 96 138 635 62 67 65 266 74 103 309 503 4 123 3,303 54 306 1 1 28 2 2 5 13 1 108 3 102 3 119 3,720 62 3,657 56 3,488 58 3,361 59 3,366 58 307 2 327 1 316 309 1 293 1 365 165 15 402 163 534 399 171 2 21 471 409 181 2 20 620 375 193 1 2 20 421 163 729 337 210 2 19 4 1 42 106 113 5 10 1 4 414 2 366 163 145 315 129 281 2,009 171 2,218 208 125 8 2 1 28 2 613 547 6 8 4 538 419 102 157 609 63 70 66 357 68 102 294 440 1 102 806 65 47 885 545 51 107 421 164 815 339 234 2 16 456 159 849 341 240 1 28 2 2 4 8 1 2 5 2 15 446 9 466 8 459 8 494 8 494 8 493 8 2,386 34 2,384 46 2,528 36 2,663 30 2,760 27 2,844 26 16 All other: Australia South Africa U A R (Egypt) Other 3 118 124 128 226 203 343 227 222 14 232 348 14 279 349 16 285 380 Total 890 14 931 14 978 16 1,013 18,963 1,297 19,255 1,138 19,089 863 Total foreign countries 4 4 1 43 335 48 459 100 114 623 59 64 50 335 59 99 332 449 10 1 4 418 632 1 iii 105 7 45 531 115 125 609 59 77 57 329 58 100 355 449 6 9 4 398 633 579 115 107 547 52 70 59 413 52 101 377 463 1 Gold & U.S. U.S. U.S. Gold & U.S. Gold & Gold & U.S. shortshortGovt. Govt. Govt. shortshortGovt. Govt. term term term bonds bonds bonds term bonds bonds & notes dollars & notes dollars & notes dollars & notes dollars & notes 357 44 532 446 4 3 I 151 151 197 178 1 163 159 15 292 394 16 301 387 1,017 16 1,008 17 18,847 610 18,521 621 19,009 635 17 2,977 349 3,053 295 3,081 275 3,171 261 3,094 257 3,150 258 Grand total 4 21,940 1,646 22,308 1,433 22,170 1,138 22,018 871 21,615 878 22,159 893 Memorandum item: Sterling area 4,871 161 5,027 134 4,480 118 3,744 114 3,168 123 3,106 135 International For notes see p. 23. 17 GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued 4. [End of quarter; in millions of dollars] 1952 1953 Western Europe: Austria Belgium Denmark Finland France . Germany Fed Rep of Greece Italy Netherlands Norway Portugal Spain Sweden Switzerland Turkey United Kingdom * Other2 ... Total Total All other: Australia . South Africa U A R. (Eevot) Other 3 . 310 426 1 485 2 396 128 206 527 59 84 73 393 91 113 309 490 455 2,413 143 1 208 10 3 4 4 1 45 6 6 4 208 10 3 10 4 1 46 1 2 5 132 2 2 3,339 55 3,381 53 302 1 312 1 1 28 2 2 5 8 296 157 2 5 8 15 11,346 511 301 2,054 306 2,157 2 455 129 208 579 59 74 72 339 97 109 311 530 10 3 4 3 1 45 519 28 2 5 8 2 2 17 208 ""io" 3 4 3 1 45 212 8 2 519 2 485 134 202 587 57 63 63 325 102 105 311 571 6 9 5 158 10 2 4 3 44 223 9 2 5 5 2 2 6 9 6 1 158 9 5 3 1 41 232 10 474 12,679 482 250 2,282 227 2 502 2 2 1 2 423 121 236 527 51 56 65 341 90 104 337 595 40 41 29 243 906 127 64 1,046 1 224 112 812 980 171 433 166 335 2,133 157 3,009 761 29 5 2 2 1 43 4 1 1 2 5 153 3 159 3 3 130 3,548 53 3,687 52 3,710 46 3,618 61 323 1 334 1 340 1 346 1 275 156 3,014 1 6 6 5 47 8 2,871 159 194 234 466 502 2,255 208 19 8 1 10,728 213 871 113 57 969 1 053 89 714 954 169 404 153 309 2,120 157 3,051 724 12,120 2 8 19 2,860 203 8 171 824 102 60 900 893 82 660 884 164 381 149 280 2,091 152 2,886 667 1,019 334 306 601 2 8 2 8 166 170 266 417 28 2 929 324 294 559 891 329 271 544 6 6 5 41 45 393 121 194 515 56 55 61 375 81 107 301 519 409 100 153 601 59 54 59 320 80 102 302 527 367 156 Japan Philippines Thailand Other 503 2,306 10,023 133 .. • 10,219 156 8 6 6 4 43 .. 196 9 154 833 93 52 856 771 67 651 836 171 360 146 283 2,051 153 2,627 624 143 828 101 55 925 691 57 655 747 160 343 146 275 2,053 151 2,318 571 126 851 82 52 993 604 50 638 671 154 328 131 280 2,018 155 2,241 649 397 Total Asia: India Indonesia 4 3 2 Gold & Gold & U.S. U.S. Gold & U.S. U.S. Gold & U.S. U.S. Gold & Gold & shortshortshortGovt. shortGovt. Govt. Govt. shortGovt. Govt. shortterm term term term bonds bonds bonds bonds term bonds bonds term dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes Canada Latin American republics: Argentina Bolivia Brazil Chile Colombia Cuba Dominican Republic El Salvador Guatemala Mexico Panama Republic of Peru Uruguay Venezuela Other I 4 3 Area and country 168 207 227 480 246 155 2 8 8 1,015 316 311 559 19 2,936 19 1 16 179 212 229 486 8 1 17 145 198 168 1,055 318 304 572 2,955 167 214 218 485 184 181 2 8 8 951 304 281 598 19 2,845 20 176 214 217 482 15 2 8 1 17 9 1 1,019 16 1,053 18 1,082 17 1,106 18 1,084 18 1,089 16 Total foreign countries 4 . . . 19,654 688 19,830 903 20,627 892 21,129 906 22,026 807 22,513 806 Total 3,265 259 3,277 270 3,204 307 3,227 311 3,202 292 3,331 285 Grand total 4 22,919 947 23,107 1,173 23,831 1,199 24,356 1,217 25,228 1,099 25,844 1,091 Memorandum item: Sterling area 3,146 167 3,253 207 3,596 214 3,880 223 4,040 234 4,021 242 International For notes, see p. 23. 18 4. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued [End of quarter in millions of dollars] 1955 1954 I 1 Area and country Western Europe: Austria Belgium Denmark Finland France Germany, Fed. Rep. of Greece Italy Netherlands Norway ... Portugal Spain Sweden Switzerland Turkey United Kingdom 1 . Other2 Total . . Canada Latin American republics: Argentina Bolivia Brazil Chile Colombia Cuba Dominican Republic.... El Salvador Guatemala Mexico Panama, Republic of... Peru Uruguay Venezuela Other Total Asia: India Indonesia Iran Japan . Philippines Thailand Other Total All other: Australia South Africa . U.A.R. (Egypt) Other3 Total Total foreign countries 4 1 4 3 2 Gold & U.S. Gold & U.S. U.S. U.S. Gold & Gold & Gold & U.S. U.S. Gold & shortshortGovt. shortGovt. Govt. Govt. Govt. shortshortGovt. shortterm bonds term bonds bonds term bonds term bonds term bonds term dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes 273 929 133 71 1,064 1,385 123 841 987 169 462 152 337 2,134 153 3,198 808 250 7 295 877 124 73 1,136 1,503 125 802 1,049 178 479 158 342 2,105 151 3,536 808 13,219 494 13,741 521 2,356 230 2,355 202 542 35 431 102 247 548 61 76 80 329 93 109 329 562 8 9 7 3 153 9 2 5 3 38 1 2 549 36 417 103 317 532 68 71 75 258 88 103 335 621 6 145 3,707 63 329 166 185 800 319 268 646 1 163 2 1 42 4 4 1 5 3 36 239 9 14,092 524 14,440 216 7 475 2,437 198 2,609 93 9 20 2,580 174 221 224 484 1 176 225 226 477 3 1 38 249 5 14,634 533 14,979 605 2,413 182 2,375 262 5 22 14 3 1 42 2 37 36 3 42 280 9 8 133 10 1 3 140 11 1 3 138 1 3 12 3,657 129 3,673 146 3,565 172 3,708 174 1 1 3 6 1 7 344 196 190 880 263 243 786 1 15 9 334 179 178 837 264 245 738 1 15 8 334 181 169 847 266 236 706 19 2,739 19 2,775 33 2,902 31 1 194 236 228 460 1 13 186 232 221 454 204 242 224 474 12 1 8 320 168 164 794 318 238 660 19 2,662 13 173 234 219 460 3 7 6 1 3 102 6 3 1 33 10 1 529 28 442 136 188 431 83 79 78 419 84 118 291 664 3,718 4 5 331 946 85 69 1,740 2,158 138 992 1,006 116 530 241 383 2,170 156 3,139 779 12 9 7 3 161 524 26 417 118 182 420 75 72 72 427 79 114 308 591 147 80 9 1 12 10 6 5 160 3 337 923 100 69 1,518 2,125 141 957 1,020 109 530 225 386 2,149 154 3,137 754 532 34 442 112 307 423 72 59 62 391 74 118 317 597 5 2 1 12 10 7 3 161 234 20 1 3 2,713 i4 9 2 11 10 7 3 187 335 878 102 72 1,423 1,999 124 925 1,045 148 520 203 406 2,185 152 3,190 733 341 864 107 69 1,162 1,822 105 874 1 044 177 499 190 399 2,172 150 3,388 729 577 35 413 117 254 477 73 54 64 315 77 111 329 614 338 140 172 740 308 243 639 2 8 11 10 7 3 187 2 1 104 4 6 3 7 2 1 124 4 3 6 12 2 1 149 4 1 12 2 1 149 4 2 3 6 1 5 1 1,103 15 1,104 13 1,086 13 1,093 13 1,118 13 1,144 13 23,098 822 23,498 857 23,934 883 24,554 746 24,505 933 25,108 1,085 3,401 285 3,364 306 3,536 341 3,510 354 3,557 362 3,599 317 Grand total 4 26,499 1,107 26,862 1,163 27,470 1,224 28,064 1,100 28,062 1,295 28,707 1,402 Memorandum item: Sterling area 4,194 260 4,548 248 4,387 243 4,214 226 4,179 259 4,206 289 International For notes see p. 23. 19 4. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued [End of quarter; in millions of dollars] 1955 1956 4 : Area and country Western Europe: Austria Belgium Denmark Finland . France Germany, Fed. .Rep. of Greece Italy Netherlands Norway Portugal Spain Sweden Switzerland Turkey United Kingdom * Other 2 U.S. Gold & U.S. Gold & Gold & Gold & U.S. U.S. U.S. Gold & Gold & U.S. Govt. Govt. shortshortshortshortshortGovt. shortGovt. Govt. Govt. bonds term term bonds term term bonds term term bonds bonds bonds dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes 351 ... Total Canada Latin American republics: Argentina Bolivia Brazil Chile Colombia Cuba Dominican Republic El Salvador Guatemala Mexico Panama, Republic of Peru. Uruguay Venezuela Other 12 10 7 5 161 5 Japan Philippines Thailand Other 16,066 460 437 2,298 369 2 466 2 40 53 3 1,077 102 80 2,125 2,490 194 1,158 1,068 99 564 231 3 15 3,790 195 320 255 175 1,021 268 250 1 15 12 847 3,015 38 3,136 40 3,231 210 251 234 1 219 265 246 1 230 255 242 510 26 3 14 139 217 389 77 52 72 556 86 127 281 668 124 3,750 194 339 201 174 1 15 813 4 1 3 6 1 12 6 5 6 10 2 19 69 3 444 44 511 27 538 141 222 374 79 74 91 583 82 127 289 627 147 266 235 All other: Australia South Africa U A.R. (Egypt) Other* 622 2,166 397 987 Total 15,478 631 2,311 169 318 241 7 15,228 129 184 423 82 61 70 481 85 124 277 662 140 10 282 7 10 7 5 151 8 429 44 323 2,341 154 2,820 796 286 6 3 10 1,058 99 82 1,913 2,742 176 1,214 1,059 100 560 222 426 2,307 151 2,875 819 2,354 153 2,600 726 2 37 53 537 26 .. 332 1,036 91 84 2,023 2,374 187 1,137 1,029 127 560 236 981 95 73 2,018 2,250 145 1,105 1,003 113 539 252 411 2,197 153 2,800 742 469 Total Asia: India Indonesia A 3 1 70 528 362 2 582 3,961 1 4 6 1 330 236 166 1 084 285 263 13 867 14 329 171 169 1,167 300 253 4 1 453 2,386 192 1 4 3 16,121 3,912 4 1 167 2 20 73 348 1,089 95 90 1,720 3,099 161 1,286 1,022 109 574 200 253 9 3 14 169 2 1 12 6 5 7 11 2,446 158 2,820 821 All 25 540 147 223 399 81 73 93 523 94 115 283 734 154 2 10 117 10 12 6 5 7 13 2 20 79 3 i26 367 1,042 96 88 1,550 3,329 187 1,268 978 117 585 175 483 10 12 6 5 7 14 2 5 87 3 131 266 20 2,500 164 2,812 770 203 17 16,491 569 16,511 502 2,541 352 2,619 367 1 1 549 399 25 3 14 151 180 407 77 53 80 561 104 117 290 808 133 193 370 29 1 1 3 14 137 210 347 79 53 91 600 109 119 259 1,058 113 3,967 191 4,123 191 1 323 231 158 1 145 294 260 1 6 1 328 204 174 1 186 298 254 167 4 167 4 1 167 4 1 3 13 895 14 885 17 959 4 6 1 18 26 3,284 26 3,329 29 3,370 30 1 243 245 236 1 1 191 211 238 1 11 177 248 222 512 12 6 1 4 4 6 1 481 13 480 13 493 11 512 12 512 1,176 14 1,210 14 1,220 12 1,236 12 1,159 13 1,218 13 Total foreign countries 4 . . . 25,480 1,274 25,780 1,308 26,727 1,059 26,988 1,121 27,487 1,154 27,841 1,103 3,595 320 3,689 321 3,680 319 3,750 317 3,717 392 3,144 391 29,075 1,594 29,469 1,629 30,407 1,378 30,738 1,438 31,204 1,546 30,985 1,494 3,885 303 3,681 295 3,911 254 3,962 265 3,853 286 3,904 223 Total International Grand total 4 Memorandum item: Sterling area . .. For notes see p. 23. 20 4. GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued [End <>f quarter; in millions of dollairs] 1958 1957 I Area and country Western Europe: Austria Belgium . Denmark Finland France Germany, Fed. Rep. of Greece.... Italy Netherlands . . . . Sweden S witzerland Turkey United Kingdom * Other2 Total Canada Latin American republics: Argentina Bolivia Brazil... .... Chile Colombia Cuba Dominican Republic El Salvador Guatemala .... Mexico Panama Republic of Peru Uruguay . Total Asia: India.... Indonesia Iran Japan Philippines Thailand Other Total All other: South Africa UAR Other 3 (EKVDO I 4 I Gold & U.S. U.S. Gold & Gold & Gold & U.S. Gold & U.S. Gold & U.S. U.S. shortGovt. shortGovt. Govt. shortshortshortGovt. shortGovt. Govt. term bonds term bonds bonds term term term bonds term bonds bonds dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes Portugal Other 3 I 374 9 382 8 424 8 994 107 94 1,316 3,520 189 1,250 934 121 584 164 480 2,399 158 2,854 768 11 6 5 8 14 11 6 5 9 14 264 28 1,002 133 97 992 4,063 152 1,458 872 139 591 156 508 2,515 156 2,507 738 8 6 5 9 14 238 26 962 92 94 1,270 3,719 177 1,323 916 133 578 157 499 2,431 158 2,894 753 16,306 553 16,538 574 2,597 438 2,694 457 2 6 93 3 132 2 6 86 3 132 556 18,807 507 2,715 441 3,078 345 1 2 6 1 22 2,951 32 2,970 191 294 246 544 1 197 262 242 535 1 1 4 6 1 22 323 168 173 754 243 279 1,011 3,211 34 193 293 248 543 1 13 176 1 2 6 1 23 329 190 193 714 181 269 1,027 33 1 12 220 27 17,967 4,368 3 1 241 29 539 3 5 128 1 2 13 167 7 7 6 5 26 12 457 329 220 187 698 235 275 1,026 324 188 178 1,003 267 279 972 167 466 1,249 145 82 951 4,043 135 1,678 1,203 151 628 132 458 2,684 156 3,810 836 2,723 2 10 105 270 24 440 117 200 371 59 62 93 536 148 82 266 1,428 155 1 1 7 7 6 5 10 15 17,214 189 188 1 1 8 6 5 9 14 458 205 31 4,563 4,488 13 443 3 134 1 2 13 190 4 1 487 2,752 4 1 1 2 11 4,159 167 16,503 2 9 81 8 1,108 162 96 899 3,971 167 1,528 1,170 150 609 129 461 2,608 157 3,460 834 263 27 456 115 215 371 65 58 92 566 136 88 235 1,554 127 2 2 12 1 1 180 28 313 30 457 117 244 416 70 65 87 553 129 96 243 1,615 128 345 26 467 131 263 393 98 81 97 504 135 110 248 1,450 140 331 25 556 137 250 354 89 73 101 575 117 117 257 1,043 134 452 1,045 143 99 935 4,099 167 1,531 947 138 603 125 479 2,673 162 2,875 741 2 10 95 3 8 118 4 9 89 3 4 88 2 12 265 24 450 126 192 417 64 64 91 485 140 93 258 1,459 152 4,251 168 4,280 108 1 2 5 1 25 326 128 190 833 196 269 1,026 2 5 1 24 328 127 202 932 175 260 1,017 5 1 21 2,903 34 2,968 33 3,041 29 211 255 228 514 1 218 231 216 525 1 222 183 192 488 14 1 1 154 3 1 13 1 146 3 2 14 1 1 86 3 1 2 2 12 1 1,277 14 1,275 14 1,236 13 1,208 14 1,190 15 1,085 15 Total foreign countries 4 . . . 27,550 1,229 27,946 1,265 28,024 1,165 28,416 1,220 29,091 1,213 30,291 1,004 Total 2,996 392 2,720 366 2,679 222 2,697 222 2,563 355 2,696 446 Grand total 4 30,546 1,621 30,666 1,631 30,703 1,387 31,113 1,442 31,654 1,568 32,987 1,450 Memorandum item: Sterling area . . . 3,953 269 3,994 299 3,601 216 3,964 245 4,523 284 4,829 261 International For notes see p. 23. 21 GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued [End of quarter; in millions of dollars] 1958 1959 4 3 Area and country Gold & shortterm dollars Western Europe: Austria Belgium Denmark .. Finland France Germany Fed. Rep of . . Greece Italy Netherlands Norway Portucal Spain . Sweden Switzerland . Turkey United Kingdom ^ . Other 2 Total Canada Latin American republics: Arsentina Bolivia.. Brazil Chile Colombia Cuba Dominican Republic El Salvador Guatemala Mexico . Panama Republic of Peru Uruguay Venezuela . . . Other Total 554 1,334 193 98 1,139 4,330 126 1,934 1,293 144 643 134 496 2,733 154 3,851 839 7 6 3 3 88 All other: Australia South Africa U A R (Eevot) Other 3 341 6 1 12 13 2 10 120 3 10 76 86 241 366 1 86 135 12 2 2 119 2 11 4,040 108 4,017 106 320 129 181 1,018 1 324 145 184 1,094 3 1 4 2 191 252 973 24 1,041 1 3 1 27 3,064 30 3,219 32 1 3 186 245 241 241 190 512 646 184 42 31 82 201 49 20,901 562 21,772 621 3,159 344 3,195 342 1 495 212 12 15 2 11 125 3 31 80 504 135 262 339 52 64 70 543 156 93 276 1,227 86 3 2 2 13 4,134 107 1 j 1,081 3 1 32 3,431 38 180 250 246 221 190 508 480 170 278 317 55 69 67 566 147 96 269 1,219 2 13 133 3 4 1 7 7 264 48 22,362 742 22,206 855 3,284 450 3,158 452 1 478 228 82 288 214 4 2 47 58 61 584 129 110 242 929 16 """is" 136 1 3 68 90 266 277 49 55 59 565 157 107 251 997 16 17 141 1 3 101 88 323 51 393 25 143 3 13 3,979 105 366 149 167 1,420 64 1 35 1 1 82 3 3 123 3 12 3,909 105 361 172 187 1 564 1 2 3 1,139 2 3 1 31 187 239 1,221 2 5 1 39 1,245 46 3,586 38 3,749 48 3,955 53 264 287 194 526 41 178 246 1,184 15 1,165 19 32,189 983 32,790 1,070 33,905 18 4 2 104 16 1 82 623 1 272 168 109 1 945 4,624 212 3,119 1,617 125 686 154 404 2,903 164 3,490 591 21 4,174 346 118 179 1,380 7 7 54 1 32 325 2 13 996 14 16 155 1,119 Total 15 1 32 23 155 337 156 195 1,232 44 263 1 Total foreign countries 4 .... 31,240 1 685 1,383 144 109 2,078 4,057 187 3,054 1,597 133 676 124 521 2,805 176 3,956 677 226 237 190 525 1,178 228 216 192 483 7 7 1,388 141 109 1,880 4,171 179 2,720 1,520 156 663 92 555 2,787 165 3,909 691 21 23 463 140 7 6 43 237 210 1 1 51 57 69 561 146 96 262 1,213 59 56 75 517 148 92 260 1,233 Total 489 3,097 346 207 409 .. 20,672 496 1 9 97 629 194 29 3,022 13 7 6 1,363 169 113 1,456 4,063 158 2,421 1,511 151 676 87 498 2,781 164 3,923 738 19,995 6 5 11 245 Asia: India Indonesia Iran Japan Philippines Thailand Other 605 216 31 22 3 2 Gold & Gold & U.S. U.S. Gold & U.S. U.S. Gold & U.S. Gold & U.S. shortshortGovt. Govt. shortGovt. Govt. shortshortGovt. Govt. bonds term term bonds term bonds bonds term term bonds bonds & notes dollars & notes dollars & notes dollars & notes dollars & notes dollars & notes 1,385 200 104 1,282 4,394 143 2,207 1,389 173 656 93 507 2,777 164 3,723 870 458 124 I 1 21 252 268 190 515 1 23 181 245 1 22 1,225 24 1,271 42 1,127 34,599 1,369 34,499 1,507 2,790 462 2,876 495 3,027 523 4,665 523 5,043 605 5,565 660 Grand total 4 34,030 1,458 35,065 1,478 35,817 1,593 38,570 1,650 39,642 1,974 40,064 2,167 Memorandum item: Sterling area 4,904 263 4,837 242 5,036 238 5,023 261 5,148 326 4,730 407 International For notes see following page. 22 GOLD RESERVES AND DOLLAR HOLDINGS OF FOREIGN COUNTRIES AND INTERNATIONAL ORGANIZATIONS — Continued [End of quarter in millions of dollars] 1960 Area and country Western Europe: Austria Belgium . Denmark Finland France. Germany, Fed. Rep. of Greece Italy Netherlands . . . Norway Portugal Spain Sweden Switzerland Turkey United Kingdom * Other2 . . Gold & U.S. Gold & U.S. Gold & Gold & U.S. shortshortGovt. Govt. shortshortGovt. term term bonds bonds term term bonds dollars & notes dollars & notes dollars & notes dollars . 277 168 39 63 1 448 186 1 82 262 149 45 61 82 70 77 Total Asia: India Indonesia . . . Iran Japan Thailand Other 574 128 100 242 897 4 3 1 All other: Australia South Africa U.A.R. (Egypt) Other 3 3 12 260 3 11 3,823 106 3,717 351 183 176 1,644 190 10 306 188 168 1,755 214 1 2 3 838 416 446 2 2 39 1 1 460 179 242 108 43 52 65 495 127 97 244 795 1 63 1 4 2 1 3 419 25 481 180 236 78 47 54 68 534 123 114 231 796 4 148 1 1 82 94 412 39 420 44 1 1 2 2 1 3 7 1 1 1 11 245 9 105 3,666 86 3,630 59 15 40 40 41 2 2 301 236 152 2,166 218 40 2 2 297 195 156 1,984 237 2 2 3 2 1 70 1,026 59 290 991 43 45 4,033 70 4,002 115 4,171 103 4,354 87 92 1 27 35 1 263 276 1 259 235 1 57 235 196 552 28 207 196 600 1,307 58 1,242 29 1,238 28 35 1,582 35,810 1,592 37,044 1,491 37,654 1,409 1,426 709 5,835 755 6,133 671 6,394 884 900 40,577 2,291 41,645 2,347 43,177 2,162 44,048 2,293 2,326 4,972 476 5,302 550 5,627 489 5,558 512 536 55 34,823 5,754 Grand total 4 Memorandum item: Sterling area . 299 207 528 1 2 4 Excludes gold reserves of the U.S.S.R., other Eastern European countries, and China Mainland. 5 Of the two sets of figures shown, the first continues the series based on a 1955 survey and reported securities transactions; the second is based on a survey as of Nov. 30, 1960, and reported securities transactions in December. Data are not available to reconcile the two series or to revise figures for earlier dates. 6 Beginning with June 1960, includes the Inter-American Development Bank. Gold reserves of the United Kingdom are estimated. This category includes — in addition to "other" Western European countries — unpublished gold reserves of certain Western European countries; gold to be distributed by the Tripartite Commission for the Restitution of Monetary Gold; European Payments Union through December 1958 and the European Fund thereafter; and the Bank for International Settlements (the figures for the gold reserves of the BIS represent the Bank's net gold assets). 3 Includes unspecified countries in Africa, Oceania, and Eastern Europe, and all Western European dependencies located outside of Europe and Asia. 819 3,324 13 143 1 3 77 57 5 3 281 264 1,306 ... 25,108 2 31 1,107 54 International 849 14 158 1 3 78 74 6 28 1 16 16 1 53 280 216 548 Total foreign countries 4 3 424 7 53 1 17 16 1,236 272 Total 1 4 2 1 149 253 Total 497 116 105 240 813 7 3,552 454 24 443 22 450 193 . . 3 79 84 536 New series 24,413 885 429 17 158 7 Old series 381 39 3,439 485 7 53 1 18 16 U.S. Govt. bonds and notes 5 1,312 85 87 2,160 6,447 139 3,080 1,779 112 636 327 397 2,863 152 4,467 529 23,345 866 3,307 18 141 1 3 79 87 516 403 38 22,354 37 16 7 1,240 78 85 2,273 5,995 109 3,181 1,646 115 638 235 395 2,786 149 4,503 469 368 38 6 64 444 22 . . 490 1,340 111 99 2,310 5,243 138 3 049 1,643 131 637 227 432 2,713 152 4,124 506 1,339 145 123 2,041 4,682 186 3 053 1,646 129 674 189 388 2,708 163 3,716 616 Total . . 7 556 . . Canada Latin American republics: Argentina . Bolivia. Brazil Chile Colombia Cuba Dominican Republic El Salvador Guatemala Mexico Panama, Republic of Peru Uruguay Venezuela Other 6 4 3 2 i 23 KEYS TO SYMBOLS USED IN TABLES n.a. Zero; Amounts insignificant in terms of the particular unit (e.g. less than 500,000 when the unit is millions); or No figure to be expected (e.g. one or more series in a table may start at a later date than others shown, or the data may be collected only quarterly while the other series are collected monthly). Not available. 24