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BOARD Of GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
H.4.1
For Immediate Release
December 29, 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 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
t h e week ended December 28 decreased a n e t of $13 m i l l i o n t o $19, 436 m i l l i o n ; cash
allowed as r e s e r v e s d e c r e a s e d $59 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
F e d e r a l Reserve Banks i n c r e a s e d $46 m i l l i o n . Estimated r e q u i r e d r e s e r v e s i n c r e a s e d
$26 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 decreased $39 m i l l i o n t o $708 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 F e d e r a l Reserve Banks by
$659 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 $673 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 supplying average r e s e r v e b a l a n c e s with F e d e r a l
Reserve Banks were i n c r e a s e s of $104 m i l l i o n i n U. S. Government s e c u r i t i e s h e l d
under r e p u r c h a s e agreement and $21 m i l l i o n i n F e d e r a l Reserve f l o a t , and d e c r e a s e s
of $70 m i l l i o n in T r e a s u r y d e p o s i t s with F e d e r a l Reserve Banks and $31 m i l l i o n in
" o t h e r " d e p o s i t s with F e d e r a l Reserve Banks. The p r i n c i p a l o f f s e t t i n g changes were
d e c r e a s e s of $64 m i l l i o n i n U. S. Government s e c u r i t i e s bought o u t r i g h t , $25 m i l l i o n
i n member bank borrowings, and $75 m i l l i o n i n gold s t o c k . T o t a l Reserve Bank c r e d i t
i n c r e a s e d $42 m i l l i o n .
As of
bought o u t r i g h t
securities held
bank borrowings
Wednesday, December 28, h o l d i n g s of U. S. Government s e c u r i t i e s
were $23 m i l l i o n h i g h e r t h a n a week e a r l i e r , U. S. Government
under r e p u r c h a s e agreement were $142 m i l l i o n h i g h e r , and member
were $3 m i l l i o n l o w e r .
Member bank r e s e r v e s ,
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 o u t r i g h t - - S y s t e m account
Held under r e p u r c h a s e agreement
Acceptances-Bought o u t r i g h t
Held under r e p u r c h a s e agreement
Loans, d i s c o u n t s , and a d v a n c e s - Member bank borrowings
Other
Float
T o t a l Reserve Bank c r e d i t
Gold stock
Treasury c u r r e n c y o u t s t a n d i n g
Currency i n c i r c u l a t i o n
T r e a s u r y cash h o l d i n g s
Treasury d e p o s i t s with F . R. Banks
Foreign d e p o s i t s with F . R. Banks
Other d e p o s i t s with F . R. Banks
Other F . R. accounts ( n e t )
Member bank r e s e r v e s :
With F e d e r a l Reserve Banks
Cash allowed as r e s e r v e s ( e s t i m a t e d )
Total reserves held
Required r e s e r v e s ( e s t i m a t e d )
Excess r e s e r v e s ( e s t i m a t e d )
Averages of d a i l y f i g u r e s
Week ended Change from week ended
Dec. 28,
Dec. 21,
Dec. 30,
I960
I960
1959
( I n m i l l i o n s of d o l l a r s )
26,946
128
50
5
49
7
2,172
29; 358
17,882
5,398
52,637
33,195
401
522
260
412
1,019
35,809
16,828
2, 608
19753S
18,728
708
Wednesday
Dec. 28,
I960
64
+104
+
+
159
86
26,948
277
4
+
-
6
29
48
17
-
879
+
85
71
7
1,616
28,984
17,837
5,398
52,219
+
302
+
15
127
79
+
+
-
25
+ 1
+ 21
+ 42
-
+
-
75
2
32
+ 21
13
70
+ 14
-
-
+
-
31
1
78
+ 46
59
13
+ 26
39
-
+
2
+ 384
- 271
-1,574
-1,761
+
8
33, H i
403
4i6
265
176
71
421
1,019
35,635
-l,832
+2, 271
+ 439
+ 195
+ 244
16,584
2,962
19,546
18,729
817
-
On December 28, i960, U. S. Government s e c u r i t i e s h e l d i n custody by t h e
F e d e r a l Reserve Banks f o r f o r e i g n account were $5,861 m i l l i o n , a d e c r e a s e of $59
m i l l i o n f o r t h e week and an i n c r e a s e of $1,218 m i l l i o n from t h e comparable d a t e
a year ago.
H.4. 1(a)
STATEMENT OF CONDITION
OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
( I n thousands of d o l l a r s )
Change s i n c e
Dec. 30,
Dec. 21,
i960
1959
beci 28,
I960
ASSETS
Gold c e r t i f i c a t e account
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
16,508,643
1,040,793
17,549,436
428,372
318,616
F . R. n o t e s of o t h e r Banks
Other cash
-1,677,000
+
62,709
-
85,000
1
85,001
+
+
66,904
14,348
-
53,624
17,318
2,681
-
293,402
+
1
12,464
+
-
4,600
14,208
22,800
-
Discounts and advances
Acceptances:
Bought o u t r i g h t
Held under r e p u r c h a s e 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
T o t a l bought o u t r i g h t
Held under r e p u r c h a s e agreement
T o t a l U. S. Government s e c u r i t i e s
2,864,173
9,059,743
12,481,298
2,543,071
26,948,285
277,100
27,225,385
+
+
+
+
22,800
142,100
164,900
+ 117,108
-1,447,250
+1,471,000
+
59,300
+ 200,158
+ 247,100
+ 447,258
T o t a l l o a n s 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
27,368,232
15
6,468,348
107,850
202,252
527443,121
+
174,682
+
-1,474,945
+
6ll
+
17,161
L, 286,240
28,575,183
44,436
16,584,347
4l6,463
264,943
420,801
17,686,554
4,852,321
44,661
51,158,719
423,664
75,178
10,490
~
9,564
518,896
741,598
+
3,050
1,301,000
-1,375,749
- 102,034
- 117,990
+
78,197
-1,517,576
56,859
903
-1, 314,540
4o8,516
774,808
101,078
52,443,121
+
+
21,199
93,602
- 153,238
-1,540,181
37.9%
+
77,778
48,104
16,965
L I A B I L I T I E S
F e d e r a l 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 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 d i v i d e n d s
TOTAL LIABILITIES
CAPITAL
ACCOUNTS
Capital paid in
Surplus
Other c a p i t a l accounts
TOTAL LIABILITIES AND CAPITAL ACCOUNTS
R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t
and F . R. n o t e l i a b i l i t i e s combined
Contingent l i a b i l i t y on a c c e p t a n c e s purchased
f o r foreign correspondents
232,184
-
-
- •»
- - -
144,248
"
-
-
532
- -
15,108
1,286,240
4*
-
+
50,535
+
7,933
57,664
-1,540,181
+
.2<fo
3,310
260,798
2.4$
+
149,886
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 28, i960
(Acceptances and s e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d a s
maturing w i t h i n 15 days i n accordance with maximum m a t u r i t y of t h e a g r e e m e n t s . )
Within 15 days
16 days t o 90 days
91 days t o 1 y e a r
Over 1 y e a r t o 5 y e a r s
Over 5 y e a r s t o 10 y e a r s
Over 10 y e a r s
Total
Discounts and
advances
70,713
7,065
77,778
Acceptances
33,141
31,928
65,069
U. S. Government
securities
777,226
5,106,890
9,211,765
10,679,647
1,178,574
271,283
27,225,3^5
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 28, i960
St.
ClevePhilaRichmond A t l a n t a Chicago
New York
Boston
Louis
land
delphia
( I n 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 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
reserves
16,508,643
816,100
4,035,382
1,040,793
62,354
229,584
994,542 1518,526 1027,540
66,251
92,224
81,220
876,682 2819,674
63,625
188,793
San
Francisco
Minneapolis
Kansas
City
665,190
327,430
707,645 599,711 2120,221
46,646
26,033
17,549,436 878,454 4,264,966 1060,793 1610,750 1108,760 940,307 3008,467 711,836
Dallas
49,236
32,693 102,134
353,463 756,881 632,4o4 2222,355
F . R . n o t e s of o t h e r Banks
Other cash
428,372
120,471
52,740
27,166
56,523
18,613
19,000
16,096
7,674
17,951
19,524
14,065
14,089
43,093
18,615
50,447
24,316
33,887
8,890
18,4ll
26,827
25,333
318,616
37,380
21,475
Discounts and advances
Acceptances:
Bought o u t r i g h t
Held under r e p . a g r e e .
U. S- Govt, s e c u r i t i e s :
Bought o u t r i g h t - Bills
Certificates
Notes
Bonds
Total
Held under r e p . a g r e e .
77,778
9,428
5,425
3,103
1,558
15,804
9,214
7,136
6,631
4,601
13,061
656
l,l6l
163,991
246,081
181,288
T o t a l U. S. Govt, s e e s .
Total loans & s e c u r i t i e s
48,104
48,104
16,965
2,864,173
9,059,743
12,481,298
2,543,071
26,948,285
277,100
54,402
16,965
153,921
486,870
670,745
—
136,665
1448,201
--
714,4l6
2,259,790
3,113,235
- 634,324
6,721,765
277,100
518,725
714,629
145,606
1542,951
778,386 573,437
1072,356 790,004
218,493 160,963
.. .
2315,31^1705,692
—
—
157,045
496,754
684,362
139,440
- 1477,601
II
490,226 115,762 66,463 122,933 115,426 336,621
1550,648 366,167 210,231 388,854 365,108 1064,773
2136,274 504,457 289,628 535,710 502,996 1466,902
59,013 109,150 102,486 298,882
435,266 102,783
4612,414 1089,169 625,335 1156,647 1086,016 3167,178
II
—
27,225,385 1448.201 6,998,865 1542,951 2315,316 1705,692 1477,601 4612,4l4 1089,169 625,335 1156,64? 1086,016 3167,178
27,368,232 1457,629 7,069,359 1546,054 2316,874 1721,496 i486,815 4619,550 1095,800 629,936 1169,708 1086,672 3168,339
1 1 / 4
1
1
1
1
2
(2)
(2)
1
1
2
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
6,468,348 424,291 1,377,346 375,873 557,685 532,658 546,755 1024,913 264,355 163,799 295,214 232,289 673,170
5,017
5,147 13,922 11,613
3,913
9,425
3,791
8,627
6,113 11,424 22,210
6,648
107,850
4.641
8,990
8,482 23,823
49.918 11.778 17.766 12.848 11,786 33,550
8,017
202.252 10.611
TOTAL ASSETS
52, 443,121 2833,776 12,944,249 3034,346 4556,941 3425,824 3071,851 8799,102 2124,269 1180,626 2267,957 2007,383 6196,797
15
1 / A f t e r deducting $11,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
2 / Less t h a n $500.
H.1(c)
Total
L I A B I L I T I E S
F e d e r a l Reserve n o t e s
Deposits:
Member "bank r e s e r v e s
U. S . T r e a s . - g e n . a c c t .
Foreign
Other
Total deposits
Deferred a v a i l a b i l i t y
c a s h items
Other l i a b i l i t i e s and
accrued d i v i d e n d s
TOTAL LIABILITIES
STATEMENT OF ;'(XTOITXON'SOF''1!A'CH"''"FEIIERAL RESERVE BA1# OB DECEMBEP 28, i960
St.
Cleve- I
PhilaChicago
A
t
l
a
n
t
a
New York
Boston
l
a
n
d
j
Richmond
Louis
delphia
{Tn thousands of d o l l a r s )
28,575,183 1642,308
6,675,698 1879,853 2591,401 2198,293 1648,592 5321,761 1235,053
16, 584, 3^7
4l6,463
264,943
420,801
17,686,554
724,704
18,148
11,956
493
755, 301
4,532,736
21, 583
1/90,483
367,911
5,012,713
4,852,321
370,618
884,193
Minneapolis
Kansas
City
I
San
D a l l a s jpreu%cisco
597,715 1154,692
840,413 2789,4o4
743,869 1295,008
40,991
50,566
14,396
22,936
2,661
864
801,917 1369,374
679,849
37,682
10,980
2,018
730,529
835,204 2483,228
31,674
44,460
12,688
33,672
896
1,320
880,462 2562,680
597,5^1
23,144
8,052
274
629,011
391,419
23,836
5,612
342
421,209
781,534
38,879
10,004
893
831,310
868,067 2651,188
32,778
52,722
l4,152
30,012
565
42,564
915,562 2776,486
275,406
434,681
472,065
215,402
131,016
225,664
176,652
473,674
723,726
469,224
2,063
12,4i4
2,426
4,089
2,445
2,237
7,046
1,552
1,413
1,726
2,130
5,120
44,661
517158/719 2770,290T2,'5H5," 018 2959,602 4438,53B" 3365, 955 3003,356 8615,213 20B17018" 1151, 353 2213,392 19357757"6040,234
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other c a p i t a l a c c o u n t s
TOTAL LIABILITIES AM)
CAPITAL ACCOUNTS
Conting. l i a b . on acceptances purchased f o r
foreign correspondents
408,516
774,808
101,078
20,132
38,332
5,022
114,543
220,905
23,783
23,874
45,638
5,232
37,8C0
72,530
8,073
18,730
34,566
6,580
21,838
40,306
6,351
57,821
107,334
18,734
13,653
25,862
3,736
9,401
17,580
2,292
17,420
31,720
5,425
23,488
44,645
4,493
49,816
95, 390
11,357
52,443,121 2833,776 12,944,249 3034,346 4556,941 3425,824 3071,851 8799,102 2124,269 1180,626 2267,957 2007,383 6196,797
13,467
28,560
F . R. n o t e s o u t s t a n d i n g
29,762,821 1693^921 7,000,868 1938,'573 2724,800 2271,728 1721,885 5 % 9 1 3 1278, 538 674,817 1 1 8 6 , " S T 885,932
C o l l a t . f o r F . R. n o t e s :
Gold c e r t i f i c a t e a c c t .
9,885,000 500,000 2,500,000 650,000 920,000 700,000 550,000 1800,000 410,000 180,000 300,000 275,000
—
—
——
2,690
—
—
—
—
——
6,4co
——
12,774
E l i g i b l e paper
21,864
U. S. Govt, s e c u r i t i e s 20,565,000 1 2 5 0 , 0 0 0 _ 4,600,000 1325,000 1830,000 1590,000 1200,000 3800,000 935,000 510,000 900,000 625,000
Total c o l l a t e r a l
30,471,864 1750, 000 7,100,000 1977, 690 2750,000 2290,000 1750,000 5600,000 1351,400 690,000 1212,774 900,000
1 / A f t e r d e d u c t i n g $174,460,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
2 / A f t e r d e d u c t i n g $166,023,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks.
2928,630
232,184
11,378
2/66,161
13,700
21,827
10,449
12,074
32,044
7,663
5,3^1
9,520
FEDERAL RESERVE AGENTS' ACCOUNTS
1100,000
—
2000,000
3100,000
@FedFRASER