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H.4.1 BCAtib feCSVEFNQRS OF THE FEDERAL RESERVE SYSTEM For Immediate Release December 15, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS end STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of d a i l y f i g u r e s of t o t a l member bank r e s e r v e s h e l d during the week ended December l 4 increased a net of $40 m i l l i o n t o $18,957 m i l l i o n . Cash allowed as r e s e r v e s i n c r e a s e d $264- m i l l i o n and member bank r e s e r v e b a l a n c e s a t t h e Federal Reserve Banks decreased $224 m i l l i o n . Estimated r e q u i r e d r e s e r v e s increased $25 m i l l i o n ; and e s t i m a t e d excess r e s e r v e s increased $15 m i l l i o n t o $716 m i l l i o n . Excess r e s e r v e s exceeded member bank borrowings a t t h e Federal Reserve Banks by $646 m i l l i o n , compared with t h e r e v i s e d f i g u r e of $64l m i l l i o n t h e week b e f o r e . The p r i n c i p a l changes reducing average r e s e r v e b a l a n c e s with Federal Reserve Banks were i n c r e a s e s of $316 m i l l i o n in currency i n c i r c u l a t i o n , $206 m i l l i o n in "other" d e p o s i t s with Federal Reserve Banks, and $49 m i l l i o n i n Treasury d e p o s i t s with Federal Reserve Banks, and a decrease of $40 m i l l i o n in U. S. Cover- ; nment s e c u r i t i e s bought o u t r i g h t . The p r i n c i p a l o f f s e t t i n g changes were i n c r e a s e s of $215 m i l l i o n i n F e d e r a l Reserve f l o a t and $109 m i l l i o n i n gold stock, and a decrease of $29 m i l l i o n i n " o t h e r " F . R. accounts ( n e t ) . T o t a l Reserve Bank c r e d i t increased $184 m i l l i o n . As of Wednesday, December 14, holdings of U. S. Government s e c u r i t i e s bought o u t r i g h t were $43 m i l l i o n lower than a week e a r l i e r and member bank borrowings were $10 m i l l i o n h i g h e r . Member bank reserves, Reserve Bank credit, and related items Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s — 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 Dec. 14, Dec. 16, Dec. 7, I960 I960 1959 (In m i l l i o n s of d o l l a r s ) Wednesday Dec. 14 I960 - 40 27,381 -49 * - 1 + - 239 34 27,353 + - 8 17 48 — - - -- 70 6 1,272 28,778 18,083 5,396 52,257 + 10 - 1 +215 +i84 +109 + 5 +297 - 886 + 1 + 103 - 587 -1,395 + 85 -1,897 85 6 1,802 29,293 17,973 5,396 52,662 33,038 410 522 237 680 1,037 35,923 +316 - 3 + 49 - 16 +206 - 29 +521 + + 240 14 6 104 338 144 336 33,126 421 608 212 672 997 36,036 16,334 2,623 18,957 18,241 716 -224 +264 + 4o + 25 + 15 -2,233 +2,318 + 85 - 188 + 273 16,626 2,853 19,479 18,447 1,032 + + On December l 4 , i960, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks for foreign account were $5,827 million, an increase of $284 m i l l i o n for the week and an increase of $1, 404 m i l l i o n from the comparable date a year ago. H. 4 . 1 ( a ) , OF CONDITION Of THi tWfefcVB FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) Change since Dec. 16, Dec, 7, i960 1959 Dec. 14, I960 ASSETS Gold c e r t i f i c a t e - a c c o u n t Redemption fund f o r F . R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s 16,640,644 1,033,793 17,674,437 F. R. notes of o t h e r Banks Other cash Discounts and advances Acceptances: Bought o u t r i g h t Held under repurchase agreement U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total bought o u t r i g h t Held under repurchase agreement T o t a l U. S. Government s e c u r i t i e s T o t a l loans and s e c u r i t i e s Due from f o r e i g n banks Cash items i n p r o c e s s of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS + 225,999 19,252 206,747 -1,578,998 + 65,246 -1,513,752 327,135 315,602 - 23,472 22,258 - 44,147 12,201 90,999 + 10,000 - 441,206 - - + - 6,600 31,196 42,750 - 48,105 3,066,463 9,158,743 12,532,298 2,595,071 27,352,575 - 42,750 ~ 73,642 -1,348,250 +1,522,000 + 111,300 + 211,408 23,000 + 188,408 - 32,750 - + 907,687 6 13,760 636,214 - 705,964 + 6,725 30,052 -2,576,785 - - - » - - - 42,750 — •» 27,352,575 27,491,679 15 6,189,712 107,079 192,018 52,297,677 - + 277,394 L I A B I L I T I E S Federal Reserve n o t e s ~ Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l account Foreign Other Total d e p o s i t s 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 28,494,769 + 169,842 + 16,626,486 608,124 212,269 671,566 18,118,445 4,388,000 44,745 51,045,959 + + + + 374,722 224,681 43,655 19,637 536,111 19,953 419 686,419 -1,752,626 + 48,403 - 157,457 + 350,838 -1,510,842 -1,036,210 403 -2,356,876 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 407,136 774,808 69,774 52,297,677 + 269 + 20,705 93,602 - 147,012 -2,576,785 Ratio of gold c e r t i f i c a t e r e s e r v e s 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 f o r f o r e i g n correspondents ~ - + - 50,474 4" 636,214 37-9% 237,148 1.] 1,620 190,579 2.: + 161,096 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER l 4 , i960 (Acceptances and s e c u r i t i e s h e l d under repurchase agreement a r e c l a s s i f i e d as maturing w i t h i n 15 days in accordance with maximum m a t u r i t y of t h e agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 y e a r s Over 5 years t o 10 y e a r s Over 10 years Total Discounts and advances 83,535 7,464 90,999 Acceptances 8,115 39,990 48,105 U. S. Government securities 434,736 5,219,797 9,559,538 10,688,647 1,178,574 271,283 27,352,575 E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 14, I960 Cleye Fhila St. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of d o l l a r s ) Total ASSETS Gold c e r t i f i c a t e account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves F.R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Ifield under repurchase agreement Minneapolis Kansas City Dallas 671,947 331,348 735,291 636,480 2167,546 183,793 46,646 26,033 49,237 927,223 2925,792 718,593 357,381 784,528 San Francisco 16,640,644 686,6l4 4,481,805 1,033,793 62,354 229,584 17,674,437 748,968 4,711,389 327,135 315,602 27,505 23,082 69,170 52,355 16,516 12,573 12,416 24,270 20,057 16,375 48,360 24,364 26,747 57,471 11,733 16,554 12,995 7,690 19,867 11,896 16,562 13,585 45,207 55,387 90,999 17,059 7,235 19,654 4,739 1,820 13,412 12,928 1,098 4,533 7,035 748 738 48,105 - - - - - - 918,125 1422,780 65,251 91.224 983,110 81,220 983,376 1514,004 1064,330 48,105 - - - - 863,599 2741,999 63,624 - - 32,693 102,134 669,173 2269,680 - - - - 3,066,463 164,791 764,875 175,574 263,462 194,092 168,137 524,849 123,936 9,158,743 492,191 2,284,483 524,393 786,892 579,703 502,183 1567,592 370,169 12,532,298 673,486 3,125,956 717,549 1076,737 793,232 687,158 2145,003 506,518 2,595,071 139,459 647,294 148,583 222,960 164,254 142,291 444,168 104,886 27,352,575 1469,927 6,822,608 1566,099 2350,051 1731,281 1499,769 4601,612 1105,5^9 71,158 131,615 123,580 360,394 212,529 393,102 369,097 1076,409 290,812 537,899 505,052 1472,896 60,218 111,384 104,580 304,994 634,717 1174,000 1102,309 3214,693 Total U. S. Govt, s e e s . 27,352,575 1469,927 6,822,608 1566,099 2350,051 1731,281 1499,769 4681,612 1105,509 634,717 1174,000 1102,309 3214,693 Total loans & s e c u r i t i e s 27,491,679 1486,986 6,877,948 1585,753 2354,790 1733,101 1513,181 4694,540 1106,607 639,250 1181,035 1103,057 3215,431 Due from foreign banks Cash items in process of. collection Bank premises Otherassets TOTAL ASSETS 15 1 1/ 4 1 1 1 6,189,712 107,079 192.018 333,199 3,947 10,770 1,102,793 9,425 47,028 382,336 3,813 10,884 521,397 8,668 16,386 479,730 6,159 12,075 1 2 (2) (2) 1 1 2 510,295 1066,617 11,260 21,580 11,156 32,815 322,240 6,646 7,595 189,478 4,956 4,408 323,623 5,147 8,497 301,581 13,909 7,833 656,423 11,569 22,571 52,297,677 2634,458 12,870,112 2995,252 4451,932 3331,828 3045,840 8825,564 2189,968 1216,158 2334,594 2125,701 6276,270 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 jfchan $500. H.4.1(c) Total L I A B I L I T I E S F e d e r a l Reserve notes Deposits: Member bank r e s e r v e s U.S.Treas.-gen.acct. Foreign Other Total deposits De f e rr e d 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 STATEMENT OF CONDITION OF EACH FEDERAL.RESERVE BANK OK DECEMBER14, i960 . J „ . „ , PhllaCleve1 St. Boston J New York d e l p h i a Richmond A t l a n t a [Chicago L o u j L s l a n 4 (In thousands of d o l l a r s ) Minne- Kansas city a p o l i s Dallas San Franclsco 28,494,769 1 6 3 7 , 9 2 2 6 , 6 5 6 , 9 6 1 1 8 6 1 , 4 5 3 2 5 8 7 , 2 1 7 2 1 9 0 , 7 2 2 1 6 4 4 , 5 5 2 5 3 0 9 , 9 3 0 1 2 3 6 , 6 8 3 596,738 1 1 5 6 , 7 2 2 837,055 2 7 7 16,626,486 608,124 212,269 671,566 18,118,445 4,388,000 6 9 1 , 7 0 5 4,462,853 773,462 1 2 7 8 , 9 3 7 6 9 4 , 2 8 2 868,694 2 4 4 9 , 4 5 2 6 1 8 , 0 2 2 398,399 8 2 5 , 3 8 7 8 9 8 , 0 9 0 2 38,468 95,475 4 1 , 5 0 4 44,030 39,921 39,236 8 1 , 1 9 2 34,576 3 0 , 3 8 5 4 1 , 9 3 2 5 0 , 2 6 5 71,140 9,947 1/67,124 11,977 1 9 , 0 8 2 9 , 1 3 5 10,556 2 8 , 0 1 4 6 , 6 9 9 4 , 6 6 9 8 , 3 2 3 11,774 24,969 253 604,428 6,495 498 3,093 1,318 844 593 303 1,555 433 51,753 740,373 5 , 2 2 9 , 8 8 0 8 3 3 , 4 3 8 1342,547 746,431 919,804 2 5 5 9 , 5 0 2 6 5 9 , 8 9 0 4 3 3 , 7 5 6 877,197 9 6 0 , 5 192,105 620,897 2 2 5 , 1 7 34 0 2 , 6 6 43 3 4 , 2 8 0 4 1 2 , 4 8 07 7 0 , 7 3 4 249,752 1 5 5 , 6 2 6 245,589 2 5 4 , 6 7 65 2 4 , 44,745 2,229 11,737 2 , 4 2 8 3,949 2,511 2 , 2 5 0 7,371 1 , 6 4 6 1 , 3 6 8 . 1 , 9 1 8 1,977 5 , 3 6 1 51,045,959 2 5 7 2 , 6 2 9 12,519,475 2 9 2 2 , 4 9 2 4336,377 3273,944 2 9 7 9 , 0 8 6 8647,537 2147,971 1187,488 2281,426 2054,270 6123 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS -Coaating. l i a b . on acceptances purchased f o r f o r e i g n correspondents 407,136 774,808 69,774 20,095 38,332 3,402 114,216 220,905 15,516 23,684 45,638 3,438 37,651 72,530 5,374 18,652 34,566 4,666 21,746 40,306 4,702 57,537 107,334 13,156 13,606 25,862 2,529 9,364 17,580 1,726 17,347 31,720 4,101 23,424 44,645 3,362 49,814 95,390 7,802 52,297,677 2 6 3 4 , 4 5 8 1 2 , 8 7 0 , 1 1 2 2 9 9 5 , 2 5 2 4 4 5 1 , 9 3 2 3 3 3 1 , 8 2 8 3 0 4 5 , 8 4 0 8 8 2 5 , 5 6 4 2 1 8 9 , 9 6 8 1 2 1 6 , 1 5 8 2 3 3 4 , 5 9 4 2 1 2 5 , 7 0 1 6 2 7 6 , 2 7 0 237,148 11,623 F . R. n o t e s outstanding 29,719,310 1686,144 C o l l a t e f o r F . R. notes: 9,980,000 500,000 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 26,989 —— U. S . Govt, s e c u r i t i e s 20,440,000 1 2 5 0 , 0 0 0 Total collateral 30,446,989 1 7 5 0 , 0 0 0 1 / A f t e r deducting $145,145,000 p a r t i c i p a t i o n s 2 / A f t e r deducting $169,598,000 p a r t i c i p a t i o n s 2/67,550 13,995 22,297 10,674 12,334 32,733 7,827 5,456 FEDERAL RESERVE AGENTS' ACCOUNTS 6,989,814 1 9 3 1 , 2 7 2 2 7 2 2 , 0 1 1 2259,067 1 7 1 8 , 5 2 8 5438,691 1283,859 9,725 13,758 29,176 674,050 1188,337 890,640 2 9 2,500,000 650,000 920,000 700,000 550,000 1900,000 410,000 180,000 300,000 270,000 1100,000 —— 19,300 —— —— —— —— 900 —— 6,789 —— —— 4,600,000 1300,000 1830,000 1590,000 1200,000 3700,000 935,000 510,000 900,000 625,000 2000,000 7 , 1 0 0 , 0 0 0 1 9 6 9 , 3 0 0 2 7 5 0 , 0 0 0 2 2 9 0 , 0 0 0 1 7 5 0 , 0 0 0 5 6 0 0 , 0 0 0 1 3 4 5 , 9 0 0 690,000 1 2 0 6 , 7 8 9 8 9 5 , 0 0 0 3 1 0 0 , 0 0 0 of o t h e r F e d e r a l Reserve Banks. of o t h e r F e d e r a l Reserve Banks.
@FedFRASER