The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
h.4.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release February 11, 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 reserves held during the week ended February 10 decreased $220 million t o $18,279 million, which included a decrease of $203 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $202 million; and estimated excess reserves decreased $18 million t o $413 m i l l i o n . Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $437 million, compared with $377 million the week b e f o r e . The p r i n c i p a l changes reducing average reserve balances with Federal Reserve Banks were decreases of $255 million in Federal Reserve f l o a t and $58 million in Federal Reserve holdings of U. S. Government s e c u r i t i e s , and an increase of $33 million in currency in c i r c u l a t i o n . The p r i n c i p a l o f f s e t t i n g changes were an increase of $42 m i l l i o n in member bank borrowings, and decreases of $93 million in Treasury deposits with Federal Reserve Banks and $36 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank c r e d i t decreased $271 m i l l i o n . As of Wednesday, February 10, holdings of U. S. Government s e c u r i t i e s bought outright were $75 million lower than a week e a r l i e r and member bank borrowings were $176 million lower. 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 Acceptances--bought outright Loans, discounts, and advances— 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 ( n e t ) Member bank r e s e r v e s : With Federal Reserve Banks Cash allowed as reserves (estimated) Total reserves held Required reserves (estimated) Excess reserves (estimated) Averages of d a i l y f i g u r e s Week ended Change from week ended Feb. 11, Feb. 3, Feb. 10, 1959 I960 i960 (1Cn millions of d o l l a r s ) 25,355 34 39 - 87 2 2 25, 3^0 34 39 315 16 34 1 -1,043 + 85 959 624 2 832 26,871 19,433 5,321 51,625 406 284 53 101 11 351 266 31,627 448 420 215 337 833 33,881 693 230 463 323 l4o 17,744 230 17,974 17,767 207 + 850 3 853 27,135 19,433 5,321 51,889 + 42 + w «•> - 31,599 443 417 203 344 834 33,840 + + + 18,049 230 18,279 17,866 413 -203 - 12 + 3 -280 33 8 93 36 11 - + - + - + —— - - 78 - - 17 -220 -202 - 18 I960 266 - + 29 - 2 -255 -271 Wednesday Feb. 10, - + - | On February 10, i960, 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 $4,468 million, an increase of $2 million f o r t h e week and an increase of $675 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 d o l l a r s ) Change since Feb. 11, Feb. 3; I960 1959 Feb. 10, I960 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r 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 I n d u s t r i a l loans Acceptances--bought outright U. S. Government s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 18,170,643 967,194 19,137,837 608,391 495,738 626,070 - - - - 997 1,339,115 - 74,590 26,038,853 15 4,991,335 100,690 374,945 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 f o r foreign correspondents I n d u s t r i a l loan commitments + + - 38,606 2,483,771 25,340,177 34,000 25,374,177 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 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 787,251 36,413 750,838 + 57,375 - + — * 10,506,993 11,010,298 Total loans and s e c u r i t i e s Due from foreign banks Cash items in process of collection Bank premises Other a s s e t s TOTAL ASSETS 10, 000 3,172 13,172 6l,079 14,234 177,277 - -»— - 74,590 —— 252,864 - + 27,562,556 + 50,465,371 202,835 + , 19,000 183,835 + — «. - • • - - + - + + 19,181 547,976 + - 92, 034 6,502 220,070 246,128 15,646 + 399,502 276,683 51,070 4,271 6,756 338,780 245,281 2,405 566,010 + 4l.4% + •3% 128,952 + 3,535 615 566,331 6,434 91,873 + 6,832 657,806 + 136,138 - - + - + - - 17,419 547,976 - - • + - - - 88,251 mm mm 225,798 10 390,864 774,808 116,761 51,747,804 + 202,835 —— 74,590 - 26,606 - -8,142,733 +8,142,733 •»— - 51,747,804 17,744,308 420,453 214,917 337,299 18,716,977 4,159,232 + 40,478 270,447 335 1,974 650 121,516 19,399 93,602 50,409 246,128 1-3# 71,787 960 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 10, i960 (Acceptances and s e c u r i t i e s 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 t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 619,507 6,493 70 -__ -- 626,0?0 Acceptances 9,388 29,218 — __ __ __ U. S. Government securities 5,964,693 713,840 10,701,575 6,523 912 677 384 792,773 38,606 25,374J177 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 10, 19&0 St. PhilaCleveRichmond Atlanta Chicago Louis New York delphia Boston land (In thousands of d o l l a r s ) H.U.l(b) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves 18,170,643 786,315 967,194 19,137,837 58,788 Minneapolis Kansas City Dallas San Francisco 4,885,852 1019,057 1624,673 1022,607 901,225 3147,070 716,926 390,732 689,017 596,537 2390,632 209,690 59,575 86,376 80,393 63,365 180,899 45,868 23,054 44,838 30.767 83.581 845,103 5,095,542 1078,632 1711,049 1103,000 964,590 3327,969 762,794 413,786 733,855 627,304 2474,213 F.R. notes of other Banks Other cash 608,391 495,738 44,176 30,713 136,4l8 96,547 29,624 28,265 44,297 45,376 72,374 30,902 86,832 35,198 48,893 86,140 17,168 26,579 18,384 12,526 19,191 17,246 37,579 16,835 53,455 69,411 Discounts and advances Acceptances: Bought outright U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 626,070 32,979 107,770 20,448 32,888 30,343 60,914 121,062 16,391 14,356 76,056 51,367 61,496 38,606 •• — — — — 38,606 1,339,115 10,506,993 11,010,298 2,483,771 25,340,177 34,000 —— 72,600 336,991 76,365 115,938 85,820 569,637 2,644,106 599,172 909,674 673,373 596,923 2,770,763 627,873 953,250 705,628 134,658 625,046 141,639 215,040 159.180 1373,818 6,376,906 1445,049 2193,902 1624,001 —— - - - - 70,577 553,760 580,287 130,905 1335,529 •"» - - - - 231,737 1818,256 1905,354 429,821 4385,168 54,462 30,500 57,722 53,450 427,319 239,318 452,904 419,376 447,789 250,782 474,599 439,465 101,015 56,573 107,063 99.137 1030,585 577,173 1092,288 1011,428 ** 152,953 1200,098 1257,585 283.694 2894,330 •**" Total U. S. Govt, s e e s . 25,374,177 1373.818 6,410,906 1445,049 2193,902 1624.001 1335,529 4385,168 1030,585 Total loans & s e c u r i t i e s 26,038,853 1406,797 6,557,282 1465,497 2226,790 1654,344 1396,443 4506,230 1046,976 591,529 1168,344 1062,795 2955,826 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 15 1 1 / 4 4,991,335 353,962 4,293 100,690 20,145 374,945 1 1 1 1 2 577.173 1092,288 1011,428 2894,330 2 / 2 / 1 1 2 909,149 311,222 411,315 409,354 451,010 813,584 229,976 135,786 251,368 234,157 480,452 4,608 11,643 12,116 9,818 4,014 9,248 6,605 10,049 16,265 6,998 5,033 93.604 21.124 32.851 24.035 20,432 64.205 15,129 8,508 17.053 15.054 42.805 51,747,804 2705,190 12,898,364 2938,379 4480,927 3300,615 2964,555 8863,288 2105,620 1185,552 2211,666 2005,368 6088,280 1/ After deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / Less than $500. 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 STATEMENT OF CONDIT]CON OF EACH FEDERAL RESERVE BANK ON FEBRUARY 10, i960 St. PhilaCleve- IRichmond Atlanta Chicago New York delphia Boston Louis land 1 (In thousands of dollars) 27,562,556 1573,612 6,448,330 1759,632 2518,380 2075,648 1570,516 5214,384 1212,098 17,7#,308 420,453 214,917 0 337;29? 18,716,977 703,703 24,903 4,159,232 326,489 10,682 469 739,757 Minneapolis Kansas City Dallas San Francisco 600,849 1100,718 791,571 2696,818 4,989,556 799,979 1426,565 761,715 885,929 2751,419 640,636 420,859 809,983 879,468 2674,496 27,568 32,108 41,497 32,678 17,870 17,293 20,372 37,776 43,204 57,283 67,901 12,862 20,492 9,810 11,336 30,084 7,194 5,014 8,938 12,644 26,8l4 1/59,047 1,705 893 3,707 1,313 835 1,064 310 2,227 1,208 46,933 276,635 5,393,139 842^114 1480,058 816,729 931^256 2800,208 666,187 #6,555 858,924 936,524 2805,526 689,293 259,827 360,972 346,935 394,408 662,260 182,685 107,759 197,999 204,394 426,211 948 1,324 1,053 949 3,435 1,251 6,658 1,394 2,702 l,4o6 1,162 4,324 2641,109 12,537,420 2862,967 4362,112 3240,718 2897,342 8681,176 2061,918 1156,487 2158,694 1933,438 5931,990 50,465,371 26,606 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS -Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents F . R. notes outstanding 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 . E l i g i b l e paper U. S. Govt, s e c u r i t i e s Total c o l l a t e r a l 390,864 774,808 116,761 19,232 38,332 6,517 111,058 220,905 28,981 22,928 45,638 6,846 36,498 72,530 9,787 17,543 34,566 7,788 20,454 40,306 6,453 54,369 107,334 20,409 13,181 25,862 4,659 9,009 17,580 2,476 16,117 31,720 5,135 22,599 44,645 4,686 47,876 95,390 13,024 51,747,804 2705,190 12,898,364 2938,379 4480,927 3300,615 2964,555 8863,288 2105,620 1185,552 2211,666 2005,368 6088,280 128,952 6,321 2/36,717 7,611 12,126 5,805 6,708 17,802 4,257 FEDERAL RESERVE AGENTS' ACCOUNTS 28,839,29611676,116 6,822,874 1825,907 2605,070 2156,679 1635,809 5385,983 1272,975 2,967 5,289 7,482 15,867 611,844 1130,598 846,667 2868,774 10,625,000 530,000 2,900,000 700,000 920,000 675,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 16,325 75,974 935,000 450,000 870,000 625,000 1800^000 30,128,629 1780,000 7,000,000 1916,330 2670,000 2190,000 1700,000 5600,000 1381,325 630,000 1245,974 915,000 3100,000 108,629 19,395,000 1250,000 — 16,330 — — — 4,100,000 1200,000 1750,000 1515,000 1200,000 3700,000 1 / A f t e r deducting $155,870,000 participations of other Federal Reserve Banks, 5 / A f t e r deducting $92,235,000 participations of other Federal Reserve Banks.
@FedFRASER