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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release December 17, 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 d a i l y f i g u r e s of t o t a l member bank reserves held during the week ended December l 6 increased $48 million t o $l8,809 million, which included an increase of $38 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $118 million; and estimated excess reserves decreased $70 million t o $470 m i l l i o n . Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $486 million, compared with $371 million the week b e f o r e . The p r i n c i p a l changes supplying average reserve balances with Federal Reserve Banks were increases of $166 million in Federal Reserve f l o a t and $45 mill i o n in member bank borrowings, and a decrease of $63 million in "other" F. R. accounts ( n e t ) . The p r i n c i p a l o f f s e t t i n g changes were increases of $197 million in currency in c i r c u l a t i o n and $4l million in Treasury deposits with Federal Reserve Banks, and a decrease of $27 million in gold stock. Total Reserve Bank c r e d i t increased $212 m i l l i o n . As of bought outright s e c u r i t i e s held bank borrowings Wednesday, December 16, holdings of U. S. Government s e c u r i t i e s were $12 million lower than a week e a r l i e r , U. S. Government under repurchase agreement were $26 million lower, and member were $48 million lower. NOTE: Next week's statement w i l l be issued on Wednesday, December 23, as of Tuesday, December 22. Member bank reserves, Reserve Bank c r e d i t , and r e l a t e d 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 AcceptancesBought outright Held under repurchase agreement Loans, discounts, and a d v a n c e s Member bank borrowings Other Float Total Reserve Bank c r e d i t 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) Averages of d a i l y f i g u r e s Week ended Change from week ended Dec. 16, Dec. 9, Dec. 17, 1959 1958 1959 UIn millions of d o l l a r s ) Wednesday Dec. 16, 1959 27,142 34 + 12 - 30 + 919 58 4l 17 + 4 + 14 + + 4 16 42 31 956 5 + 45 + + 440 2 527 5 1,471 29, 241 19, 477 5,311 54,029 1,169 - - +166 - 270 29,365 19,478 5,311 54,154 +212 - 27 + 1 +1;054 -1,098 + 82 + 37 32,798 396 528 341 342 1,181 35,567 +197 - 9 + 4l - 21 + 4 + Member bank r e s e r v e s : With Federal Reserve Banks 18,567 Cash allowed as reserves (estimated) 242 Total reserves held 18,809 Required reserves (estimated) 18,339 Excess reserves (estimated) 470 +187 - 63 +149 + 38 + 10 + 48 +118 - 70 - + + 404 297 100 78 + 7 + 20 + 314 277 + 242 35 35 27, l 4 l 23 32,812 394 560 370 321 1,194 35,650 18,379 302 18,681 18,576 105 On December 16, 1959, U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $4,423 million, an increase of $21formillion Digitized FRASER f o r the week and an increase of $552 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) Change since Dec. 9, Dec. 17, 1959 1958 Dec. 16, 1959 ASSETS Gold certificate"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 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 3,140,105 10,506,993 11,010,298 2,483,771 27,141,167 23,000 27,164,167 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,769,073 15 6,895,676 100,354 222,070 54,874,462 18,219,642 968,547 19,168,189 371,282 327,803 532,205 41,505 31,196 . - - + - + + 27,002 2,010 29,012 33,563 1,817 48,224 - - 856,251 51,941 804,310 + 30,132 + 25,276 ~ 36,051 336 5,001 26,775 + + 12,000 + • — 4,308 31,196 946,855 -8.,142,733 +8,142,733 •» — ~ • *» * . 12,000 26,000 38,000 946,855 54,900 + 891,955 54,448 + + • - - 891,072 ' +1,882,933 1,200 1,649 +1,830,770 + + + 35,947 6,509 96,734 209,466 101,686 + 373,086 + LIABILITIES Federal Reserve notes " Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES 28,304,190 + 18,379,112 559,721 369,726 320,728 19,629,287 5,424,210 45,148 53,402,835 4o8, Oil 132,283 29,710 26,514 + 543,490 +1, 235,928 2,122 +1,878,982 CAPITAL ACCOUNTS Capital paid"in" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 386,431 868,4l0 216,786 54,874,462 + Ratio of gold c e r t i f i c a t e reserves t o deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased for foreign correspondents Industrial loan commitments + + + + 1,365 49,577 +1,630,770 40.0# - .6$ 76,052 - 4,201 - + + - - + + + + + + + - + 737,625 56,273 117,802 15,681 579,231 289,227 11,296 94,378 26,010 59,215 29,863 209,466 1.5# 3,770 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER l6, 1959 (Acceptances and securities held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days t o 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 520,413 11,753 39 -— __ 5327205 Acceptances ' 37,866 34,835 --__ 72,701 U. S. Government securities 426,100 7,699,033 11,044,965 6,523,912 677,384 792,773 27,164,167 STATEMENT 0PC0NDIT][ON OF EACH FEDERAL RESERVE BANK ON DECEMBER 16, 1959 St, ClevePhilaNew York Richmond Atlanta Chicago Boston Louis delphia land H. 4.1(b) 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 4,646,105 1060,428 1564,621 1072,958 Minneapolis Kansas City Dallas 740,090 351,333 715,117 680,164 2466,316 177,768 45,364 23,508 43,271 954,497 3301,176 785,454 374,841 758,388 894,544 3123,4o8 San Francisco 18,219,642 904,558 968,547 59,887 19,188,189 964,445 F.R. notes of other Banks Other cash 371,282 327,803 26,600 17,511 79,777 52,580 23,744 18,977 15,099 26,684 40,813 19,577 49,627 24,929 30,728 59,625 9,153 22,189 15,489 11,306 18,321 13,665 22,852 15,192 39,079 45,568 Discounts and advances Acceptances: Bought outright Held under rep. agree. U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 532,205 16,138 47,225 26,805 25,910 12,259 72,085 203,057 19,935 8,072 70,694 24,565 5,460 - - 4l,505 31,196 - - - - 3,140,105 10,506,993 11,010,298 2,483,771 27,141,167 23,000 Total U. S. Govt, s e e s . 27,164,16? 1471,459 6,853,129 1547,752 2349,828 1739,423 1430,448 4696,833 1103.831 618,194 1169,920 1083,313 3100,037 Total loans & s e c u r i t i e s 27,769,073 1487,597 Due from foreign "banks Cash items in process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 41,505 31,196 -214,407 61,333 87,069 4,-860,512 1121,761 1651,690 1153,253 59,953 31,106 84,586 711,270 2550,902 - - - - - - 71,521 135,354 125,335 358,660 790,214 179,068 271,864 201,242 165,496 543,402 127,708 170,241 569,637 £,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 239,318 452,904 419,376 1200,098 596,923 2,770,763 627,873 953+250 705,628 580,287 1905,354 447,789 250,782 474,599 439,465 1257,585 99,137 283,694 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 134,658 1471,459 6,830,129 1547,752 2349,828 1739,423 1430,448 4696,833 1103,831 618,194 1169,920 1083,313 3100,037 23^ 000 •• ••• *— 6,973,055 1574,557 2375,738 1751,682 1502,533 4899,890 1123,766 15 1 1/4 6,895,676 100,354 222,070 465,973 4,362 11,995 1,333,179 9,900 55,260 l 1 1 401,032 613,585 4,058 9,563 12.292 19,315 532,356 6,703 14,093 1 2 574,696 1122,688 9,653 15,594 12,739 37,446 1 316,640 7,074 8,875 626,266 1240,6l4 1107,878 3105,497 2 195,308 5,060 5.029 / 1 329,698 4,636 10,374 1 309,795 11,361 9,166 1 700,726 12,390 25,486 54,874,462 2978,484 13,364,267 3156,422 4711,675 3518,478 3128,675 9467,149 2273,152 1233,299 2375,697 2187,515 6479,649 1 / After deducting $11,000 participations of other Federal Reserve Banks. 2 / Less than $500. 80,295 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER l 6 , 1959 St. ClevePhilaBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) H.4.1(c) 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 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 Minneapolis Kansas City Dallas San Francisco 28,304,190 1624,101 6,623,893 1806,365 2581,712 2146,364 1606,375 5325,993 1252,731 609,009 1123,294 821,355 2782,998 18,379,112 791,180 4,897,759 882,318 1418,153 797,661 930,334 2932,888 679,705 393,080 890,563 959,739 2805,732 81,990 35,368 47,094 50,271 26,347 59,647 31,896 32,497 44,354 46,191 54,639 559,721 49,427 8,616 14,001 18,668 40,208 23,694 32,310 17,950 16,873 53,132 13,283 19,745 1/111,246 369,726 321 1,754 1,657 45,766 2,388 941 2,483 1,312 1,566 457 514 261,569 320,728 19,629,207 860,866 5,352,564 943,768 1498,498 868,365 974,866 3047,233 725,341 434,514 950,672 1026,255 2946,345 5,424,210 4o8,661 975,700 307,231 495,493 424,904 473,669 867,103 236,691 152,485 240,721 261,839 579,713 2,255 12,265 2,462 3,975 2,393 2,240 7,593 l,6ll 1,333 1,810 2,102 5,109 45,148 2895^883 12,964,422 3059,826 4579,678 3442,026 3057,150 9247,922 2216,374 1197,341 2316,497 2111,551 6314,165 53,402,835 CAPITAL ACCOUNTS •Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents 386,431 868,410 216,786 19,154 110,359 13,331 50,584 50,116 238,902 22,815 59,607 14,174 36,243 76,643 19,111 17,239 44,846 14,367 20,004 53,422 39,474 132,159 12,047 33,646 hf " 12,880 33,746 10,152 8,777 20,785 6,396 15,817 32,935 10,448 22,225 43,436 10,303 47,496 95,761 22,227 54,874,462 2978,484 13,364,267 3156,422 4711,675 3518,478 3128,6759467^49 2273,152 1233,299 2375,697 2187,515 6479,649 76,052 4,180 2/21,332 5,016 6,840 3,800 3,572 11,248 2,812 1,824 2,964 3,952 8,512 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. notes outstanding 29,391,751 1692,115 C o l l a t . f o r F . R. notes: Gold c e r t i f i c a t e a c c t . 10,750,000 530,000 E l i g i b l e paper 116,624 U. S. Govt, s e c u r i t i e s 19,410,000 1250,000 Total c o l l a t e r a l 30,276,624 1780,000 l / A f t e r deducting $258,480,000 p a r t jLcipations 2/ A f t e r deducting $54,720,000 p a r t i c i p a t i o n s ~ — Y < - y v z , 1 6,973,423 1853,902 2644,849 2216,637 1668,450 5^2,885 1294,581 621,087 1158,951 873,408 2941,463 2,900,000 700,000 920,000 700,000 500,000 2000,000 430,000 180,000 300,000 290,000 1300,000 26,475 — — — — 19,750 — 70,399 4,200,000 1200,000 1750,000 1550,000 1200,000 3600,000 935,000 450,000 850,000 625,000 1800,000 7,100,000 1926,475 2670,000 2250,000 1700,000 5600,000 1384,750 630,000 1220,399 915,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks - F. R. 3^0 (Rev. 12-59) Worksheet f o r H>4.1 CHANGES IN WEEKLY AVERAGES OF: MEMBER BANK RESERVES, RESERVE BANK CREDIT AND RELATED ITEMS (In mi:Llions of d o l l a r s ) Averages for Change since: Member hank reserves, Reserve week ended (Week ago) (Year ago) Bank credit, and Related items 5kz,<).4-. 1(0. 1 ^ 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 9 10 -H5k Special certificates Held under repurchase agreement + 3 3-1 - 41 Acceptances— Bought outright +!> 4^3 Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings H-H- 3o A 80 Other 3-1 . *3.4- 1 2 13 4-ur mm r Float Wednesday &4-*/. -1 r - 1 zlLP f W J Other i / Total Reserve Bank c r e d i t Gold stock A i m * "i <=> L> °li 6-3,% 4-1 + 3 1 Currency in c i r c u l a t i o n -hS~^o $ * f 1 A L>' Treasury cash holdings 3#! f 3 M "33 a a / 32 f Tio 33, / i 9 r s r . -i^r. 9 - II f-3 + I 32''^ 4- 3 l o f 34- Total reserves held 4-<4-S"4- r (pid 3 3 *-f- -hi<4- Cash allowed as reserves (estimated) is.trs 3 9 3, 4- 1 % f Other deposits with F. R. Banks Excess reserves (estimated) 1 C - ± ~ Foreign deposits with F. R. Banks Required reserves (estimated) rix!) -1 Treasury deposits with F. R. Banks Member bank reserves: With Federal Reserve Banks 5W /H-~) - 11 •£ 4-. L> 2. Other F. R. accounts (net) w 1 1 <?. Treasury currency outstanding f "b f cR 0 ar*M-r - a a 3 (5 0 2 (0 4- 3*9. b 3 a 6, f io3 M-f iS.fkiT 4 $ ($ 4-4-L - ^ 3 On 7S A 'i 1 9JT9 > U. S. Government s e c u r i t i e s held in cus7 (date) tody by the Federal Reserve Banks f o r foreign account were $'•/;L>o~% million, o.f^J lA/Jirease of $ iSo million f o r the week and a^yJ vv-»rease of $ "1&H— million from the comparable date a year ago. l / This or a s p e c i f i c caption or captions t o he used only when other Reserve Bank credit (Due from foreign hanks, Municipal warrants, or Federal Intermeditate Credit Bank debentures) amounts to $500,000 or more. p- " r Worksheet Form F. R. 408= (Rev. Nov. 1958) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) COND , ASSETS Gold certificates — Redemption fund for F0 R, notes Total aold certificate reserves F. R. notes of other Banks ... Other cash ... TACC BELT IS M L JAGG TANN M t i l I T S naff Discounts and advances TEMP TIME -TURK Acceptances purchased BURK Acceptances held under repurchase agreement U. S. Government securities; Bought outright— Certificates - Special A BECK BLUM TUSS - BAST SLio£ 1 1 TALL TENT TILL TAFF TODD TOUR TARE Total loans and securities Due from foreign banks Uncollected cash items Bank premises &-\o2osr 1o n a ( a^2 A f ^ n i A la Jt'71 8L>~\ BUTE Total U. S. Govt, securities JOOZL L> - I U - I U»°\ (ooi 3~1 | - | I BANE —— - B E S T - Total bought outright Held under repurchase agreement.. o8~5 3O BREP - Other .— : S k i 1 S~0 b S 2 1 loo IS* H>(t> (8 S~ So-z. TOTE TOTAL ASSETS LIABILITIES Federal Reserve notes TRIM Deposits: Member bank-reserve accounts .... U.S. Treasurer-general account.... CLAY Other... — Total deposits Deferred availability cash items Other liabilities and accrued 4-T3 m - r 18 M 3^.1 H- TULE y-g . C o <? 1 - 1 9 k 3 s ? 1 "I o(a o^11 g o 8 jTA T a TRAM TOTAL LIABILITIES ot?s;m CAKE CINO CORA TUBB TAPP Ln e 1 4 i 4 - CAPITAL ACCOUNTS Capital paid in — TOME Surplus TORK Other capital accounts TRAP TOTAL LIABILITIES AND CAPITAL ACCOUNTS 8 U <? w-i o TWIN Ratio of gold certificate reserves to deposit and F. R. note liabilities TEST Contingent liability on acceptances purchased for foreign c orrespondents MILD Industrial loan commitments MENT • n a • — jU £a t - 8-
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