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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release December 22, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member bank reserves held during the week ended December 21 increased $474 million to $19, 403 million, which included an increase of $448 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $422 million; and estimated excess reserves increased $52 million to $757 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $683 million, compared with the revised figure of $635 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $879 million in Federal Reserve float and a decrease of $237 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $347 million in Federal Reserve holdings of U. S. Government securities and $126 million in gold stock, and increases of $136 million in currency in circulation and $70 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $538 million. As of Wednesday, December 21, holdings of U. S. Government securities bought outright were $427 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $135 million higher, and member bank borrowings were $11 million lower. Outright holdings of bills, certificates, notes, and bonds decreased $225 million, $99 million, $51 million, and $52 million, respectively. All securities sold had maturities of less than 15 months. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptances— Bought outright Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Currency in 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. 14, Dec. 23, Dec. 21, I960 i960 1959 (]Cn millions of dollars) 40 13 26,925 135 7 29 48 5 906 1 333 567 510 + 84 -1,993 ~ 74 6 2,349 29,543 17,925 5,396 52,865 250 27 69 119 112 177 + 162 - 33,219 422 492 275 430 1,018 35,857 -2,155 +2,284 + 129 + 11 + 118 17,008 2,860 19,868 18,693 1,175 27,010 24 -371 + 24 + 50 1 + 1 + 1 4- 74 6 2,151 29,316 17,957 5,396 52,669 + 4 33,174 4l4 592 246 443 1,018 35,887 +136 + 4 + 70 + 9 -237 - 19 - 36 16,782 2,621 197503 18,646 757 +448 + 26 +4?4 +422 + 52 -»— +879 +538 -126 — * +135 - - + + + rernment securities held in custody by On December 21, i960, U. S. Federal Reserve Banks for foreign account were $5,920 million, an increase of $93 million for the week and an increase of $1,317 million from the comparable date a year ago. the 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 Change since Dec. 14, Dec-. 23, I960 1959 Dec . 21, I960 16,593,643 1,040,794 17,634,437 361,468 304,268 - 4- + - 47,001 7,001 40,000 -1,602,999 + 63,711 -1,539,288 34,333 11,334 4,394 2,473 10,540 - 389,149 Discounts and advances 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 2,841,373 9,059,743 12,481,298 2,543,071 26,925,485 135,000 27,060,485 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 298,129 27,193,550 . — — 15 7,943,293 +1,753,581 160 107,239 + 185,091 6,927 53,729,361 +1,431,684 +1,409,827 + 7,054 - 55,711 - 413,585 80,459 48,105 4,501 • ~ - + - - + - 4,501 225,090 99,000 51,000 52,000 427,090 135,000 292,090 + - 4,601 32,670 - 29,432 -l, 447,250 +1,471,000 + 59,300 + 53,618 + 135,000 + 188,618 - 228,600 «* •» LIABILITIES 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 28,619,619 + 124,850 + 145,874 IT,008,Oil 491,64l 275,433 430,365 18,205,450 5,593,919 41,611 52,460,599 + 381,525 - 116,483 + 63,164 - 241,201 + 87,005 +1,205,919 3,134 +1,414,640 -1,077,542 - 18,131 - 116,273 + 96,373 -1,115,573 + 785,398 7,074 - 191,375 CAPITAL ACCOUNTS Capital paid in" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 407,984 774,808 85,970 53,729,361 + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents 848 21,048 93,602 149,656 413,585 + 16,196 +1,431,684 37.7# .2# 235,494 1,654 - 2.4$ + 161,465 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 21, i960 (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 75,067 5,392 -— -— 80,459 Acceptances 16,616 35,990 — --— 52,606 U. S. Government securities ~ 6857586 4,967,707 9,276,788 10,679,647 1,178,574 271,283 27,060,485 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 21, I960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) H.4.1(b) Total ASSETS Minneapolis Kansas City San Dallas Francisco Gold certificate account 16,593,643 725,825 4,438,622 896,092 1461,466 976,561 876,225 2796,531 635,931 303,904 709,416 697,928 2075,142 Redemption fund for 229.584 66,251 92.224 81.220 63,625 188,793 46.646 26.033 49.217 32,693 102,134 1,040.794 62,354 F. R. notes Total gold certificate reserves 17,634,437 788,179 4,668,206 962,343 1553,690 1057,781 939,850 2985,324 682,577 329,937 758,653 730,621 2177,276 18,586 9,215 14,296 22,882 20,605 16,461 52,315 22,300 27,624 54,688 14,812 17,188 14,193 7,402 18,117 12,032 17,973 13,772 45,823 55,823 6,394 17,640 3,594 Discounts and advances 80,459 Acceptances: Bought outright 48,105 48,105 Held under rep. agree. 4,501 4,501 U. S. Govt, securities: Bought outright-Bills 708,729 162,686 2,841,373 152,695 Certificates 9,059,743 486,870 2,259,790 518,725 Notes 12,481,298 670,745 3,113,235 714,629 Bonds 6l4. % 4 145.606 2,543,071 136,665 Total 26,925,485 1446,975 6,716,078 1541,646 Held under rep. agree. 115.000 135.000 4,164 1,870 7,262 19,708 8,098 2,583 7,060 1,348 738 244,122 778,386 1072,356 218.493 2313,357 -- 179,845 573,437 790,004 160.961 1704,249 155,795 496,754 684,362 119.440 1476,351 -- 486,324 1550,648 2136,274 415.266 4608,512 -- F.R. notes of other Banks Other cash Total. U. S. Govt, sees. 361,468 304,268 29,203 21,958 87,921 50,547 n4,84o 65,934 121,955 114,507 333,941 366,167 210,231 388,854 365,108 1064,773 504,457 289,628 535,710 502,996 1466,902 102.783 59.013 109.150 102.486 298.882 1088,247 624,806 1155,669 1085,097 3164,498 " --. 27.060,485 1446.975 6.851.078 1541.646 2111.157 1704.249 1476.151 4608.512 1088.247 624.806 1155.669 1085.097 1164.498 Total loans & securities 27,193,550 1453,369 6,921,324 1545,240 2317,521 1706,119 1483,613 4628,220 1096,345 627,389 1162,729 1086,445 3165,236 Due from foreign hanks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 1/ 4 (2) (2) 7,9-3,293 548,089 1,657,851 576,896 660,849 592,864 568,795 1242,427 334,561 207,180 407,891 342,489 803,401 5,147 13,922 11,621 6,648 4,956 3,790 8,614 6,152 11,435 21,582 9,425 107,239 3,947 4.254 7.114 8.268 7,539 21,72$ 10.480 16.112 11.611 10.872 10.858 45.647 185,091 10.046 53,729,361 2854,792 13,440,925 3126,551 4593,985 3411,616 3089,181 8990,725 2159,465 1195,311 2372,838 2213,062 6280,910 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. H.1(c) Total LIABILITIES 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 21, i960 Cleve"STT Phila Boston New York Richmond Atlanta Chicago Louis delphia land (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 28,619,619 1646,927 6,696,038 1878,367 2595,878 2202,163 1656,694 5328,936 1239,307 597,969 1157,298 839,966 2780,076 17,008,011 678,677 4,771,470 772,905 1323,731 687,180 874,945 2544,913 603,024 391,363 808,799 966,794 2584,210 491,641 26,904 64,270 33,535 32,201 30,596 32,907 76,560 19,905 24,658 44,408 42,396 63,301 6,348 11,316 16,008 33,948 9,108 275,433 13,524 1/78,093 16,284 25,944 12,420 14,352 38,088 308 892 . 396 44,525 2,621 -371,276 2,033 1,306 858 683 430,365 3,395 2,072 422,677 865,415 1025,594 2725,984' 18,205,450 721,726 5,285,109 826,119 1383,948 732,229 923,510 2660,419 632,720 5,593,919 421,345 1,093,478 346,013 493,293 416,002 439,103 813,741 243,377 144,411 294,611 273,429 615,116 1,287 l, 609 2,013 4,834 41,611 2,100 11,245 2,177 3,853 2,289 2,194 6,584 1,426 52,460,599 2792,098 13,085,870 3052,676 4476,972 3352,683 3021,501 8809,680 2116,830 1166,344 2318,933 2141,002 6126,010 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 407,984 774,808 85,970 20,120 38,332 4,242 114,391 220,905 19,759 23,871 45,638 4,366 37,710 72,530 6,773 18,721 34,566 5,646 21,818 57,671 40,306 107,334 5,556 l6,o4o 13,629 25,862 3,144 9,376 17,580 2,011 17,398 31,720 4,787 23,463 44,645 3,952 49,816 95,390 9,694 53,729,361 2854,792 13,440,925 3126,551 4593,985 3411,616 3089,181 8990,725 2159,465 1195,311 2372,838 2213,062 6280,910 235,494 11,539 2/67,112 13,894 22,137 10,598 12,246 32,499 7,772 5,417 9,655 13,659 28,966 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,749,227 1695,317 Collat. for F. R. notes: Gold certificate acct. 9,885,000 500,000 Eligible paper 17,954 U. S. Govt, securities 20,565,000 1250,000 Total collateral 1750^000 1/ After deducting $197,340,000 participations 2/ After deducting $168,382,000 participations 6,965,081 1943,170 2732,686 2269,381 1722,285 5459,531 1278,491 676,357 1184,990 887,071 2934,867 2,500,000 650,000 920,000 700,000 550,000 1800,000 410,000 180,000 300,000 275,000 1100,000 — 6,8l4 —— —— 3,240 -— --7,900 4,600,000 1325,000 1830,000 1590,000 1200,000 3800,000 935,000 510,000 900,000 625,000 2000,000 7,100,000 1978,240 2750,000 2290,000 1750,000 5600,000 1352,900 690,000 1206,814 900,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER