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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM B.4.1 For Immediate Release December 3, 1959 WEEKLY AVERAGES OP 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 2 decreased $123 million to $18,440 million, reflecting a decrease of $167 million in member bank reserve balances at the Federal Reserve Banks and an estimated $44 million of currency and coin that country member banks were permitted to count as reserves beginning December 1. Estimated required reserves decreased $53 million; and estimated excess reserves decreased $70 million to $355 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $515 million, compared with $397 million the week before. The principal changes reducing the total of average reserves were a decrease of $225 million in Federal Reserve float, and increases of $175 million in currency in circulation, $32 million in Treasury deposits with Federal Reserve Banks, and $32 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $191 million in U. S. Government securities bought outright and $48 million in member bank borrowings, and a decrease of $56 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $10 million. As of bought outright securities held borrowings were Wednesday, December 2, holdings of U. S. Government securities were $351 million higher than a week earlier, U. S. Government under repurchase agreement were $1 million lower, and member bank $20 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 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. 2, Nov. 25, Dec. 3, 1958 1959 1959 (In millions of dollars) 26,843 28 32 3 870 5 1,086 28,867 19, 568 5,306 53,742 32,444^ 4i^"c? 547 347 355 1,241 35,346 18,396 44 18,440 18,085 355 +191 - 2 + Wednesday, Dec. 2, 1959 810 82 27,044 28 2 3 34 4 + 48 - 2 -225 + 10 - 14 + 2 - 1 291 3 1 +1,023 -l, o4i + 78 + 61 616 +175 - 3 + 32 + 32 - l4 - 56 + - - - +167 + + + - + - + + -167 + 44 -123 - 53 - 70 + - 387 281 82 125 46 138 405 344 44 300 147 153 5 995 28,726 19,565 5,309 53,600 32,481 409 601 318 343 1,242 35,39V 18,206 155 18,361 18,158 203 On December 2, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,4l6 million, a decrease of $20 million for the week and an increase of $594 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 3, Nov. 25, 1958 1959 Dec. 2, 1959 A S S E T S Gold certificate account Redemption fund for P. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities 18,308,642 968,558 19, 277, 200 351,770 348,689 621,279 ~ + - + - -- + + + + 15,999 854 15,145 27,021 9,337 19,279 — 33,524 3,788 + 3,043,405 10,506,993 + - 3,012 523 + 924,055 -8,142,733 +8,142,733 350,875 - - Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,730,458 15 5,684,108 99,138 205,079 53,696,457 — - - + 1,675 3,788 + 11,010,298 2,483,771 27,044,467 27,400 27,071,867 790,252 50,009 740,243 54,807 25,091 292,276 337 + 350,875 1,350 349,525 + + + + 332,735 +1,233,107 ~ 924,055 15,000 939,055 - - + + + + 105,245 207 19,020 459,332 + - + + 435,664 5,667 82,466 +1,096,559 L I A B I L I T I E S Federal Reserve notes ~~ Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,992,915 + 73,816 18,206,498 601,398 318,225 342,787 19,468,908 4,688,640 45,425 52,195,888 + + 66,866 165,976 17,995 16,092 230,939 132,122 3,293 440,170 C A P I T A L A C C O U N T S Capital~paid In" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 384,947 868, 4lO 247,212 53,696, 457 + + 18,933 459,332 40.6$ - .3% - 2.0$ 71,425 — + 1,008 — - 2,417 995 Ratio of gold certificate reserves to deposit and P. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - + + + + + 229 - + + - + + + + 382,593 116,434 131,960 85,007 911 99,622 475,120 11,811 969,146 26,234 + + 59,215 + 41,964 +1,096,559 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 2, 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 605,94l 15,283 55 — --621,279 Acceptances 9,850 27,462 ---37,312 U. S. Government securities 382,160 7,676,073 11,019,565 6,523,912 410,385 1,059,772 27,071,867 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 2, 1959 ClevePhilaSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 18, 308,642 900,086 968,558 19,277,200 60,112 4,599,127 1026,594 1572,794 1081,753 61,698 85,418 Kansas City Dallas 878,942 3269,860 752,406 392,115 651,310 723,751 2459,904 178.160 23,609 43,356 81,227 60,257 960,198 4,814,426 1088,292 1658,212 1162,980 939,199 22,283 215,299 Minneapolis 16,007 44,469 30,170 351,770 348,689 19,783 71,609 58,776 20,743 23,029 29,772 36,369 ... 51,910 27,698 19,933 27,324 62,130 10, 347 20,903 20,612 11,098 15,904 13,815 22,604 16,049 Discounts and advances Acceptances: Bought outright Held under rep. agree. U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 621,279 29,182 122,750 37,225 36,285 29,000 128,050 93,034 35,135 11,227 62,716 29,365 — - - - - - 3,043,405 10,506,993 33,524 3,788 164,998 765,879 - - 173,554 263,492 * * »«• 195,045 160,399 526,668 553,760 1818,256 580,287 1905,354 625,046 141,639 215,040 159,180 130,905 429,821 6,805,794 1542,238 2341,456 1733,226 1425,351 4680,099 569,637 2,644,106 599,172 909,674 673,373 11,010,298 596,923 2,770,763 627,873 953,250 705,628 2,483,771 134,658 27,044,467 1466,216 27,400 84,783 3448,020 796,875 415,724 694,666 753,921 2544,687 F.R. notes of other Banks Other cash 33,524 3,788 San Franciscc • • 123,775 427,319 447,789 101,015 1099,898 7,310 69,319 131,186 121,475 347,615 239,318 452,904 419,376 1200,098 250,782 474,599 439,465 1257,585 56.573 107,063 99,137 283,694 615,992 1165,752 1079,453 3088,992 «•»— • mm tm • «. •» •» Total U. S. Govt, sees. 27,071,867 1466,216 6,833,194 1542,238 2341,456 1733,226 1425,351 4680,099 1099,898 Total loans & securities 27,730,458 1495,398 6,993,256 1579,463 2377,741 1762,226 1553,401 4773,133 1135,033 627,219 1228,468 1108,818 3096,302 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 1/4 1 l 1 1 409,318 1,061,515 363,742 4,052 11,376 508,269 432,217 6,703 13,000 447,606 946,364 9,971 50,893 11,907 34,783 53,696,457 2922,377 13,060,450 3090,698 4617,361 3433,429 3041,388 9306,768 15 5,684,108 99,138 205,079 1 4,324 11,072 9,230 18,129 l/ After deducting $11,000 participations of other Federal Reserve Banks." 2 / Less than $500. 9,666 2 15,012 1 252,662 7,074 8,204 615,992 1165,752 1079.453 3088.992 2 / 160,668 5,085 4.624 1 1 259,344 291,038 4,636 11,016 9,606 8.224 1 551,365 12,369 23.261 2231,099 1245,030 2226,440 2211,671 6309,746 H.4.I(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 availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,992,915 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 2, 1959 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis thousands of dollars) w Minneapolis Kansas City Dallas San Francisco 1603,059 6,548,037 1780,721 2545,033 2122,497 1570,030 5288,637 1237,877 604,672 1113,280 812,095 2766,977 18,206,498 796,312 4,822,331 844,816 1442,923 809,596 955,953 2883,003 688,642 429,509 790,692 1010,510 2732,211 35,856 27,452 46,258 38,499 71,360 43,376 82,906 37,815 90,184 48,121 38,303 41,268 601,398 14,617 46,028 11,507 7,464 12,129 16,172 34,832 17,105 1/94,305 20,526 27,990 15,550 318,225 342,787 19,468,908 4,688,640 379 283,755 1,532 1,296 3,255 1,318 1,711 588 282 1,364 946 46,361 851,611 5,290,575 914,995 1510,512 869,669 1015,264 3013,648 736,593 464,707 850,443 1066,127 2084,764 381,102 801,430 294,233 422,846 360,441 380,703 773,265 197,045 137,778 200,432 255,058 484,307 1,824 4,881 2,556 12,172 2,445 4,345 2,453 2,309 7,575 1,712 1,243 1,910 45,425 52,195,888 2838,328 12,652,214 2992,394 4482,736 3355,060 2960,306 9083,125 2173,227 1200,400 2166,065 2135,104 6140,929 CAPITAL ACCOUNTS Capital paid in .Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Gonting. liab. on acceptances purchased for foreign correspondents 384,947 868,4-10 247,212 19,116 50,116 14,817 110,256 238,902 59,078 22,801 59,607 15,896 36,155 76,643 21,827 17,218 44,846 16,305 19,941 39,474 13,667 52,421 132,159 39,063 12,855 33,746 11,271 8,759 20,785 7,086 15,782 32,935 11,658 22,172 43,436 10,959 47,471 95,761 25,585 53,696,457 2922,377 13,060,450 3090,698 4617,361 3433,429 3041,388 9306,768 2231,099 1245,030 2226,440 2211,671 6309,746 71,425 3,927 2/20,017 4,712 6,426 3,570 3,356 10,567 2,642 1,713 2,785 3,713 7,997 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 28,991,593 1663,034 6,870,867 1832,900 2608,547 2178,685 1635,317 5401,899 1282,823 861,752 2899,475 10,590,000 530,000 2,800,000 640,000 920,000 700,000 500,000 2000,000 430,000 180,000 300,000 290,000 1300,000 62,396 36,895 — -— -34,950 134,241 19,260,000 1200,000 4,200,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000. 450,000 850,000 625,000 1800,000 29,984,241 1730,000 7,000,000 1876,895 2670,000 2250,000 1700,000 5500,000 1399,950 630,000 1212,396 915,000 3100,000 l/ After deducting $223,920,000 participations of other Federal Reserve Banks, 2/ After deducting $51,408,000 participations of other Federal Reserve Banks. 617,096 1139,198
@FedFRASER