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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release February 4, 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 dally figures of t o t a l member bank reserves held during the week ended February 3 increased a net of $32 million t o $18,487 million, which r e f l e c t e d in part an increase of $91 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $21 million; and estimated excess reserves increased $53 million to $381 m i l l i o n . Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $427 million, compared with $445 million the week b e f o r e . The p r i n c i p a l changes supplying average reserve balances with Federal Reserve Banks were a decrease of $84 million in currency in c i r c u l a t i o n and an increase of $35 million in member bank borrowings. The p r i n c i p a l o f f s e t t i n g change was an increase of $22 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $36 m i l l i o n . As of bought outright s e c u r i t i e s held bank borrowings Wednesday, February 3, holdings of U. S. Government s e c u r i t i e s were $21 million lower than a week e a r l i e r , TJ. S. Government under repurchase agreement were $34 million higher, and member were $351 million higher. 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 (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 f i g u r e s Week ended Change from week ended Feb. 4, J" an. 27, Feb. 3, I960 1959 I960 (In millions of d o l l a r s ) 25,442 5 4l 808 3 1,108 27,406 19,445 . 5,318" 1 52,16£1V + - + 25,415 34 40 393 16 + 162 + 314 -1, 031 83 634 800 3 813 27,104 i 19,444 1 5,319 | 51,667 446 288 68 39 11 312 137 i 31,545 1 434 472 219 l 344 I 832 ! 33,846 497 235 262 239 23 1 18,021 I 235 l 18,256 1 18,090 166 + 35 + - - 5 36 9 + 3 + 30 + 84 11 9 22 1 2 60 31, 566-^ 435- L510 239 333 834 33,918 + + 18,252 235 18,487 18,106 381 + 91 59 + 32 - 21 + 53 * + - - Wednesday Feb. 3, ' I960 150 76 2 8 5 1 + : - + - - - - On February 3, 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 $4,466 million, a decrease of $6 million f o r the week and an increase of $751 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. 4, Jan• 27y i960 1959 Feb. 3, 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 Acceptance s - -bought outright 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 Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 18,180,643 970,366 19,151,009 669,470 509,972 803,347 - - + + 1,413,705 10,506,993 11,010,298 2,483,771 25,414,767 34,000 25,448,767 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 26,291,717 15 5,217,133 100,700 355,764 52,295,780 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 18,020,991 471,523 219,188 344,055 19,055,757 4,404,513 24,201 51,031,381 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 390,249 774,808 99,342 52,295,780 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 for foreign correspondents I n d u s t r i a l loan commitments 27,546,910 41.10 125,417 « + - + + + - •» — m mm 39,603 9,999 3,494 13,493 39,571 12,489 350,950 • 983 - 20,840 - - — + 183,845 -8 ,142,733 +8,142,733 - —— •» • + + 20,840 34,000 13,160 + 363,127 - 777,248 36,260 740,988 42,697 24,882 394,965 335 2,970 - 183,845 29,850 213,695 + 183,905 244,548 145 19,096 96,955 + + + + 271,574 6,624 213,836 2,530 24,195 + 426,802 - «• -» - - + + • + - + + - + 4ll,134 139,438 8,903 4,396 267,189 161,884 2,231 78,879 - + • - + + + 451 + 17,625 96,955 + + — •» 4. + .2$ - + - - 1,819 - - - - + - 64l,306 49,959 67,971 7,632 666,950 374,690 689 135,231 19,351 93,602 58,450 2,530 1.4$ 68,369 960 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 3, 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 795,080 8,189 78 803,347 Acceptances 10,101 29,502 39,603 U. S. Government securities 5,960,283 784,840 10,709,575 6,523,912 677,384 792,773 25,448,767 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 3, I960 1 H.4.l(b) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves • Boston Total — New York St. Louis Cleve PhilaRichmond Atlanta Chicago . delphia land . (In thousands of dollars) 18,180,643 869,324 4,833,082 1020,279 1585,995 1002,747 895,665 3264,244 688,030 970,366 19,151,009 928,261 86,603 81,243 63,602 181,179 45,950 5,043,528 1080,109 1672,598 1083,990 959,267 3445,423 733,980 210,446 58,937 59,830 Minneapolis Kansas City Dallas San Francisco 364,046 710,164 630,284 2316,783 23,120 30,820 44,901 83,735 661,104 2400,518 387,166 755,065 F.R. notes of other Banks Other cash 669,470 509,972 49,905 32,008 151,537 99,137 37,386 28,495 48,903 47,886 75,091 33,456 89,755 34,230 53,744 87,868 20,117 26,454 21,650 13,542 19,931 18,249 44,957 17,960 56,494 70,687 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 803,347 43,348 41,935 31,772 83,057 29,600 118,036 209,478 48,724 17,189 58,492 64,247 57,469 Total U. S. Govt, sees. 39,603 1,413,705 10,506,993 11,010,298 2,483,771 25,414,76? 39,603 76,644 569,637 596,923 134. 658 1377,862 TCTAL ASSETS 80,618 599,172 627,873 2,770,763 141,639 625.046 6,395,677 1449,302 60,937 32,199 57,496 452,904 2 3 9 , 3 1 8 4 2 7 , 3 1 9 1818,256 673,373 705,628 580,287 1 9 0 5 , 3 5 4 4 4 7 , 7 8 9 250,782 474,599 953,250 1 0 1 , 0 1 5 . . . 5 6 , 5 7 3 , 107,063 130,905 429,821 159,180 215,040 57vj Of2 1095, 503 2200,360 1628,782 1339,460 4390,076 1033,619 122,396 909,674 90,601 74,508 553,760 244,645 25,448,767 1377,862 6.429,677 1449.302 2200.360 1628,782 1339,460 4398,076 1033.619 15 1 374,901 4,293 100,700 19.091 355,764 5,217,133 52,295,780 56,427 161,472 419,376 1200,098 439,465 1257,585 99,137 283,694 405 O'+y 34,000 34,000 Total loans & securities 26,291,717 1421,210 Due from foreign banks Cash items in process of collection Bank premises Other: assets 355,762 2,644,106 6,511,215 1481,074 2283,417 1658,382 1457,496 4607,554 1082,343 1 / 4 1 1 1 1 2 2 / 578,872 1095,503 10l4,405 2902,849 596,061 1153,995 1078,652 2960,318 2 / 1 1 2 982,702 340,307 441,155 399,264 448,794 840,503 225,908 135,673 243,950 242,266 541,710 5,033 4,622 11,640 12,116 9,8l8 4,0l4 9,246 6,606 10,049 16,265 6,998 8.078 16.211 14.292 40,615 88.518 20,129 31.472 22,725 19,413 60.834—14,366 2829,670 12,886,479 2991,515 4534,678 3279,515 3019,005 9112,193 2110,166 1167,203 2212,024 2070,872 6082,460 l/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. S.4.1(c) Total L I ABILITIES Federal Reserve notes Deposits: Member bank reserves U .8.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 STATEMEMT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 3, I960 ClevePhilaBoston New York delphia land Richmond Atlanta Chicago 1 L ouis (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 27,546,910 1576,282 6,436,290 1757,779 2519,462 2077,015 1567,174 5211,378 1212,476 600,086 1099,743 795,530 2693,695 18,020,991 790,227 4,957,655 840,979 1428,582 769,026 960,417 2887,017 635,102 390,330 807,407 44,459 471,523 32,510 68,288 21,986 49,559 27,696 26,359 68,936 23,732 24,885 219,188 10,927 5,129 9,143 1/59,743 13,157 20,962 10,035 11,596 30,774 7,359 898 1,268 359 271,669 1,563 1,227 3,977 3,086 8o4 1,219 344,055 19,055,757 834,023 5,357,355 877,685 1500,330 810,734 1001,458 2987,531 667,412 421,242 862,277 951,491 2602,758 31,468 51,645 12,934 27,429 1,531 56,454 997,424 2738,286 4,404,513 355,010 730,797 280,359 394,773 331,719 382,809 730,269 186,470 116,236 196,891 205,904 493,276 24,201 1,199 5,698 1,276 2,673 1,275 1,249 4,182 867 974 951 854 3,003 51,031,381 2766,514 12,530,140 2917,099 4417,238 3220,743 2952,690 8933,360 2067,225 1138,538 2159,862 1999,712 5928,260 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased for foreign correspondents 390,249 774,808 99,342 19,221 38,332 5,603 110,940 220,905 24.494 22,916 45,638 5,862 36,480 72,530 8,430 17,502 34,566 6,704 20,450 54,278 40,306 107,334 5.559 17,221 13,087 25,862 3,992 8,981 17,580 2,104 16,096 31,720 4,346 22,555 44,645 3,960 47,743 95,390 11,067 52,295,780 2829,670 12,886,479 2991,515 4534,678 3279,515 3019,005 9112,193 2110,166 1167,203 2212,084 2070,872 6082,460 125,417 6,145 F. R. notes outstanding 28,935,231 1683,895 Collat. for F. R. notes: Gold c e r t i f i c a t e acct. 10,625,000 530,000 Eligible paper — — 137,384 U. S. Govt. securities 19,510,000 1250,000 Total collateral 30,272,384 1780,000 l / After deducting $159, 445,000 participations 2 / After deducting $89, 661,000 participations 2/35,756 7,399 11,768 5,643 6,521 FEDERAL RESERVE AGENTS' ACCOUNTS 17,305 4,138 2,884 5,l4l 7,273 15,424 6,847,905 1833,359 2608,756 2162,509 1636,706 5400,907 1278,541 613,059 1131,932 848,763 2888,899 2,900,000 700,000 920,000 675,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 — 31,595 —— — — — — 47,420 — — 58,369 --4,200,000 1200,000 1750,000 1530,000 1200.000 3700,000 935.000 450,000 870,000 625.000 1800,000 7,100,000 1931,595 2670,000 2205,000 1700,000 5600,000 1412,420 630,000 1228,369 915,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER