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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release December 8, i960 WEEKLY AVERAGES OF MEMBER BAM 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 7 decreased $871 million to $18,812 million. Cash allowed as reserves decreased $288 million and member bonk reserve balances at the Federal Reserve Banks decreased $$83 million. Estimated required reserves decreased $295 million, including an estimated decrease of $250 million in the reserve requirements of central reserve city banks effective December 1; and estimated excess reserves decreased $576 million to $625 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $565 million, compared with the revised figure of $1,088 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $202 million in Federal Reserve holdings of U. S. Government securities, $175 million In Federal Reserve float, and $53 million in member bank borrowings, and increases of $84 million in currency in circulation and $83 million in "other" deposits with Federal Reserve Banks. The principal offsetting change was an increase of $17 million in gold stock. Total Reserve Bank credit decreased $432 million. As of Wednesday, December 7, holdings of U. S. Government securities bought outright were $91 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $2 million lower, and member bank borrowings were $20 million lower. Outright holdings of bills, certificates, notes, and bonds decreased $6l million, $14 million, $5 million, and $11 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 Averages of daily figures Week ended Change from week ended Wednesday Dec. 7, Nov. 30, Dec. 9, Dec. 7, I960 I960 I960 1959 (][n millions of dollars) 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) * Less than $500,000. 27,421 * 50 -- -186 - 16 + + + 1 * 291 64 27,395 13 3 48 -- -•* 60 7 1,057 28,594 17,974 5,391 51,960 - 53 - 1 -175 -432 + 17 - l -4i4 - 851 + 2 + 54 - 559 -1,531 + 81 -2,007 75 6 874 28,399 18,177 5,392 51,967 32,722 413 473 253 474 1,066 35,402 + 84 - 3 + 13 - 5 + 83 - 5 +168 + + 121 8 14 109 136 178 36 32,905 4l8 383 256 691 1,061 35,715 16,558 2,254 18,812 18,187 625 -583 -288 -871 -295 -576 -1,971 +1,986 + 15 95 + 110 16,252 2,486 18,738 18,169 569 + - On December 7, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,5^3 million, an increase of $113 million for the week and an increase of $l,l4l million from the comparable date a year ago. H»4.l(a) STATEMENT Of CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (Ih thousands of dollars) Change since Nov. 30, Dec. 9, I960 1959 Dec. 7, I960 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 16,866,643 1,014,541 17,881,184 F. R. notes of other Banks Other cash 350,607 337,860 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 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 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 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents + - + - 272,998 1,926 271,072 -1,380,001 + 43,984 -1,336,017 11,804 17,528 + + 12,888 8,240 80,999 - 19,590 - 499,430 48,105 - l + 11,601 4,421 - 61,100 14,000 5,000 11,000 91,100 1,500 92,600 42,892 -1,348,250 +1,522,000 + 111,300 + 242,158 49,000 + 193,158 112,191 - 299,092 •»"» 3,109,213 9,158,743 12,532,298 2,595,071 27,395,325 — 27,395,325 27,524,429 15 5,282,025 107,085 178,258 - - - . «•» — - + + 451,687 52 21,788 300,298 + 269,282 + 7,931 45,461 -1,382,229 51,661,463 - 28,324,927 + 258,625 + - 517,895 -1,719,337 43,995 84,092 + 343,961 -1,503,463 + 219,671 2,944 -1,164,313 16,251,764 383,443 255,924 691,203 17,582,334 4,407,953 44,326 50,359,540 406,867 774,808 120,248 51,661,463 - + + mm - 128,927 4,172 301,466 341,184 231,150 2,484 316,193 + 164 + 15,731 300,298 -1,382,229 1.6$ - 39,0# + .736 238,768 + 12,202 + 122,423 - + 21,801 93,602 146,115 158,515 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 7, 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 71,967 9,032 80,999 Acceptances 7,496 40,609 48,105 U. S. Government securities 408,550 5,264,933 9,583,338 10,688,647 1,178,574 271,283 27,395,325 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 7, I960 Phi la< St. CleveRichmond Atlanta Chicago Boston Net 7 York delphia land Louis (in thousands of dollars) H,4.1(b) Total ASSETS Minneapolis Kansas City Dallas San Francisco Gold certificate account 16,866,643 763,259 4,551,784 935,983 1441,572 1052,967 845,992 2813,680 699,738 337,849 729,129 613,349 2081,341 Redemption fund for F. R. notes 1,014,541 62,497 230,232 65,460 91,430 81,940 63,813 179,066 44,714 26,070 44,298 32,732 92,289 Total gold certificate reserves 17,881,184 825,756 4,782,016 1001,443 1533,002 1134,907 909,805 2992,746 744,452 363,919 773,427 646,081 2173,630 89,988 62,816 22,161 12,071 16,629 17,281 25,404 52,797 23,143 11,139 14,067 15,637 11,534 19,172 14,850 40,876 55,855 Discounts and advances 5,660 80,999 2,994 Acceptances: Bought outright 48,105 48,105 U. S. Govt, securities: Bought outright— Bills 775,538 3,109,213 167,089 Certificates 9,158,743 492,191 2,284,483 Notes 12,532,298 673,486 3,125,956 Bonds 647,294 2,-595,071 139,459 Total 27,395,325 1472,225 6,933,271 Held under rep. agree. 4,764 11,094 3,870 18,362 6,553 5,598 3,883 11,035 3,948 3,238 178,022 524,393 717,549 148,583 1568,547 267,135 786,892 1076,737 222,960 2353,724 196,798 579,703 793,232 164,254 1733,987 F.R. notes of other Banks Other cash Total U.S. Govt, sees. 350,607 337,860 32,927 25,323 16,666 25,254 57,842 170,481 532,166 502,183 1567,592 687,158 2145,003 142,291 444,168 1502,113 4600,929 16,845 8,190 125,664 72,149 133,450 125,302 365,419 370,169 212,529 393,102 369,097 1076,409 506,518 290,812 537,899 505,052 1472,896 104,886 60,218 111,384 104,580 304,994 1107,237 035,705 1175,835 1104,031 3%i9,Yio 27,395,325 1472,225 6,833,271 1568,547 2353,724 1733,987 1502,113 4688,929 1107,237 635,708 1175,835 1104,031 3219,718 Total loans & securities 27,524,429 1475,219 6,887,036 1573,311 2364,818 1737,857 1520,475 4695,482 1112,835 639,591 1186,870 1107,979 3222,956 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 5,282,025 360,960 107,085 3,947 178,258 9,771 1/ (2) (2) 938,050 347,207 424,898 419,456 428,497 828,951 245,484 158,687 292,713 284,847 552,275 9,425 3,811 8,677 6,158 11,263 21,580 6,645 4,956 5,147 13,907 11,569 47,042 9,800 15,358 10,937 10,287 28,851 6,906 4,008 7,715 7,129 20,454 51,661,463 2733,904 12,816,377 2974,400 4384,079 3343,226 2958,529 8648,597 2144,306 1193,418 2293,044 2093,966 6077,617 ij After deducting $11,000 participations of other Federal Reserve Banks. --2/ Less than $500. H.4.1(c) Total STATEMENT OF CONDIT]CON OF EACH FEDERAl RESERVE BAM ON DECEMBER 7, I960 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis Minneapolis Kansas City San Dallas Francisco LI A B I I IT IE 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 28,324,927 1624,287 6,584,313 1846,409 2573,713 2184,444 1628,717 5299,151 1229,318 593,804 1153,245 833,119 2774,407 16,251,764 671,374 4,375,121 729,345 1273,288 713,072 847,277 2373,493 642,212 405,291 815,410 886,972 2518,909 36,704 14,190 27,451 28,842 25,996 46,671 25,786 23,848 36,454 41,096 52,136 383,443 24,269 8,118 5,658 10,086 14,268 30,258 255,924 12,054 1/80,034 14,514 23,124 11,070 12,792 33,948 742 352 1,031 639 45,455 1,163 1,382 551 633,914 1,482 778 3,714 691,203 17,582,334 708,248 5,125,773 759,531 1324,641 756,698 887,228 2455,494 676,858 435,149 862,981 942,975 2646,758 4,407,953 33^,685 729,944 290,430 361,588 338,376 370,738 700,696 192,669 133,471 219,778 242,974 492,604 1,595 1,385 1,811 1,845 5,320 2,169 11,241 2,100 4,358 2,545 2,392 7,265 44,326 2669,389 12,451,271 2898,770 4264,300 3282,063 2889,075 8462,606 2100,440 1163,809 2237,515 2020,913 5919,089 50,359,540 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 406,867 774,808 120,248 20,080 38,332 6,103 114,192 220,905 30,009 23,658 45,638 6,334 37,633 72,530 9,616 18,652 34,566 7,945 21,721 57,492 40,306 107,334 7,427 21,165 13,604 25,862 4,400 9,360 17,580 2,669 17,231 31,720 6,278 23,448 44,645 4,960 49,796 95,390 13,342 51,661,463 2733,904 12,816,377 2974,400 4384,079 3343,226 2958,529 8648,597 2144,306 1193,4l8 2293,044 2093,966 6077,617 238,768 11,701 2/68,026 14,089 22,447 10,746 12,418 32,955 7,881 5,492 9,791 13,850 29,372 FEDERAL RESERVE AGENTS' ACCOUNTS 29,501,604 1678,723 6,919,597 1932,011 2712,393 2255,343 16$4,b92 5408,346 1271,281 670,033 1180,976 879,662 2898,553 F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 9,855,000 500,000 Eligible paper 20,599 U. S. Govt, securities 20,440,000 1250,000 Total collateral 30,315,599 1750,000 1/ After deducting $175,890,000 participations 2/ After deducting $170,742,000 participations 2,400,000 650,000 920,000 700,000 525,000 1900,000 410,000 180,000 300,000 270,000 1100,000 -10,789 —— 4,410 --• "• "• 5}400 4,600,000 1300,000 1830,000 1590,000 1200,000 3700,000 935,000 510,000 900,000 625,000 2000,000 7,000,000 1954,410 2750,000 2290,000 1725,000 5600,000 1350,400 690,000 1210,789 895,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER