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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I For Immediate Release December 10, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member bank reserves held during the week ended December 9 increased $314 million to $18,754 million, reflecting an increase of $133 million in member bank reserve balances at the Federal Reserve Banks and an estimated increase of $181 million in currency and coin that member banks were permitted to count as reserves, beginning December 1 for country banks and December 3 for central reserve city and reserve city banks. Estimated required reserves increased $14-5 million; and estimated excess reserves increased $169 million to $545 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $366 million, compared with $494 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $287 million in U. S. Government securities bought outright and $36 million held under repurchase agreement, and $4l million in member bank borrowings, and a decrease of $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $157 million in meaoy in circulation and decreases of $83 million in Federal Reserve float and $63(million in gold stock. Total Reserve Bank credit increased $286 million. As of bought outright securities held borrowings were Wednesday, December 9, holdings of U. S. Government securities were $109 million higher than a week earlier, U. S. Government under repurchase agreement were $22 million higher and member bank $4l million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement AcceptancesBought 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 circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Member bank reserves: With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Week ended Change from week ended Dec. 2, Dec. 10, Dec. 9, 1959 1958 1959 (In millions of dollars) 27,130 64 +287 + 36 37 3 + 5 911 5 1,003 29,153 19,505 5,310 53,967 + 4i 32,601 405 487 362 338 1,244 35,438 18,529 225 18,754 18,209 545 - - - - - 83 +255 - 63 + 4 +225 +157 - 7 - 60 + 15 - 17 + 3 + 92 +133 +181 +314 +145 +169 Wednesday, Dec. 9, 1959 + + 880 32 27,153 49 + 3 37 4 + + 497 3 109 +1,306 -1,088 4- 81 + 297 + - 383 291 + 111 4" 130 + 10 + 53 + 398 •» + + + 100 225 125 49 76 575 5 824 28,648 19,504 5,310 53,462 32,721 4ll 427 340 347 1,244 35,491 17,971 225 18,196 18,189 7 On December 9, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,402 million, a decrease of $14 million for the week and an increase of $554 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 Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments Change since Dec. 2, Dec. 10, 1959 1958 Dec. 9, 1959 18,246,644 970,557 19,217,201 337,719 329,620 580,429 - + 61,998 1,999 59,999 - - «•» <m 14,051 19,069 40,850 e» m + + 2,980 633 3,152,105 10,506,993 + 108,700 2,483,771 27,153,167 49,000 27,202,167 27,823,521 15 5,012,743 99,154 223,719 53,043,692 28,202,504 17,971,101 427,438 340,016 347,242 19,085,797 4,188,282 W SB «• <a» 305 4,421 + 906,555 -8,,142,733 +8,142,733 + 93,063 +1,077, 503 — «• - 671,365 16 18,640 652,765 + + + 92,823 5,492 89,859 526,712 + 209,589 + 400,370 - 235,397 173,960 21,791 4,455 383,111 500,358 1,845 672,035 - + + + 405,168 9,931 109,688 20,421 284,990 262,272 13,153 390,805 + + + + 25,434 59,215 51,258 526,712 - + - + • + - 119 — • + - 40.6# 80,253 + + 906,555 + 41,000 + 947,555 385,066 266,363 + 51,898 762,351 16,168 27,218 125,559 337 108,700 21,600 130,300 + 53,043,692 + + 834,249 + + + 47,270 51,523,853 868,4l0 - • 36,504 4,421 11,010,298 + 19,151 652,765 • + + W 1.8# «• <• + 8,828 -- + 6,252 995 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 9, 1959 (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 567,744 12,633 52 __ 560,429 Acceptances 11,024 29,901 __ __ 40,925 U. S. Government securities 363,400 7,794,433 11,050,26-5 6,523,912 410,385 1,059,772 27,202,167 H.4.1(b) STATEMENT OF CONDIT]CON OF EACH FEDERAL RESERVE BANK ON DECEMBER 9, 1959 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F.R. notes of other Banks Other cash 18,246,644 970,557 60,112 215,299 61,698 86,417 81,227 20,703 Discounts and advances 24,084 580,429 24,430 39,120 Acceptances: Bought outright 36,504 36,504 Held under rep. agree. 4,421 4,421 U. S. Govt, securities: Bought outright— Bills 3,152,105 170,891 793,234 179,752 Certificates 10,506,993 569,637 2,644,106 599,172 Notes 11,010,298 596,923 2,770,763 627,873 Bonds 2,483,771 134,658 r-f v ^ — , 625,046 r-r-v , ~ 141,639 Total 27,153,167 1472,109 6,833,149 1548,436 Held under rep. agree. 49,000 57,260 40,584 337,719 329,620 20,577 17,767 Total U. S. Govt, sees. 27,202,167 1472,109 Total loans & securities 27,823,521 San Francisco 60,257 178,160 44,469 23,609 43,356 31,170 84,783 1 5,012,743 99,154 223,719 359,024 4,324 12,191 i 37,710 61,039 25,708 8,957 19,981 17,542 10,646 17,227 12,946 22,022 15,545 33,979 42,985 123,290 137,251 15,385 11,870 92,230 8,965 5,960 47,453 25,367 272,903 202,011 166,129 545,479 128,196 909,674 673,373 953,250 705,628 215,040 .15&180 71,795 135,871 125,813 360,031 553,760 1818,256 427,319 239,318 452,904 419,376 1200,098 580,287 1905,354 447,789 250,782 474,599 439,465 1257,585 130,905 429,821 Zd> — 101,015 ^ 56.573 s iv 107,063 f-" 11 yyj 99.137 771i 283,694 f-v.it 2350,867 1740,192 1431,081 4698,910 1104,319 618,468 1170,437 1083,791 3101,408 6,882,149 1548,436 2350,867 1740,192 1431,081 4698,910 1104.319 618.468 1170.437 1083.791 3101.4o8 1496,193 6,962,194 1572,866 2408,127 1780,776 1554,371 4836,161 1119,704 630,338 1262,667 1092,756 3107,368 15 53,043,692 73,050 53,497 1 / 4 911,840 9,971 55,282 l 1 307,537 402,321 4,052 9,207 12,462 19,689 411,726 6,703 14,231 l 1 2 427,002 794,766 9,661 15,051 12.878 38,024 1 2k),569 7,074 8.956 2 / 148,242 5,087 5.089 1 1 1 250,979 4,636 10.469 233,884 11,019 8,997 524,853 12,369 25.451 2869,630 13,146,346 3046,397 4524,638 34l6,588 3047,268 9106,514 2207,185 1196,198 2252,501 2080,076 6150,351 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. Dallas 19,217,201 959,553 5,080,508 1110,727 1641,407 1144,738 970,535 3335,763 801,943 379,254 693,576 695,852 2403,345 14,754 29,132 TOTAL ASSETS Kansas City 899,44l 4,865,209 1049,029 1554,990 1063,511 910,278 3157,603 757,4?4 355,645 650,220 664,682 2318,562 18,740 20,012 Due from foreign hanks Cash items in process of collection Bank premises Other assets Minneapolis E.4,1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 9, 1959 ^ ^ , I PhilaCleve., , , 1, St. Boston New York j (3_elphia land Richmond Atlanta | Chic ago Louis (In thousands of dollars) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 28,202,504 1615,626 6,595,992 1793,845 2567,757 2138,039 1593,002 5317,840 1249,459 609,272 1121,174 17,971,101 779,451 4,989,287 847,510 1400,894 795,744 427,438 36,744 54,631 25,333 35,392 40,424 340,016 18,480 1/98,096 22,176 30,240 16,800 472 288,837 2,021 1,188 3,048 347,242 San Dallas Francisco 817,792 2782,706 964,039 2787,828 667,222 395,139 810,834 925,090 2608,063 28,835 15,792 1,402 37,170 28,357 21,905 40,935 36,201 41,511 1,226 491 256 1,412 962 45,927 49,728 19,085,797 835,147 5,430,851 897,040 1467,714 856,016 1010,068 2875,952 4,188,282 331,486 MinneKansas apolis City 12,432 8,064 13,104 17,472 37,632 708,502 425,364 866,285 979,725 2733,133 693,687 253,712 348,541 340,293 367,719 677,842 188,872 122,683 201,742 203,273 458,432 47,270 2,341 12,699 2,398 4,377 2,664 2,351 7,825 1,727 1,846 2,001 1,972 5,069 51,523,853 2784,600 12,733,229 2946,995 4388,389 3337,012 2973,l4o 8879,459 2148,560 1159,165 2191,202 2002,762 5979,340 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 385,066 868,4l0 266,363 19,119 50,116 15,795 110,286 238,902 63,929 22,806 59,607 16,989 36,165 17,225 76,643 23,441 44,846 17,505 19,946 52,433 39,474 132,159 14,708 42,463 12,869 33,746 12,010 8,764 20,785 7,484 15,800 22,173 32,935 12,564 43,436 11,705 47,480 95,761 27,770 53,043,692 2869,630 13,146,346 3046,397 4524,638 3416,588 3047,268 9106,514 2207,185 1196,198 2252,501 2080,076 6150,351 80,253 4,4l6 2/22,437 5,300 7,227 4,015 3,774 11,884 2,971 1,927 3,132 4,176 8,994 FEDERAL RESERVE AGENTS' ACCOUNTS F. JR. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 29,222,258 1683,958 6,944,352 1839,536 2625,639 2194,871 1659,577 5^25,144 1291,669 619,470 1149,978 868,586 2919,478 10,690,000 130,960 530,000 2,900,000 640,000 920,000 700,000 500,000 2000,000 430,000 180,000 300,000 290,000 1300,000 19,410,000 1250,000 30,230,960 1780,000 1/ After deducting $241,920,000 participations 2/ After deducting $57*816,000 participations i 23j725 -- —— -- -- 15* 200 -- 92*035 4,200,000 1200,000 1750,000 1550,000 i2oo,oco 3600,000 935,000 450,000 850,000 625,000 1800,000 7,100,000 1863,725 2670,000 2250,000 1700,000 5600,000 1380,200 630,000 1242,035 915,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER