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H.4.I BOAfiD OF dbfERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release January 12, 1961 WEEKLY AVERAGES OF MEMBER EANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS end STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member bank reserves held during the week ended January 11 decreased $798 million to $19,1^5 million. Cash allowed as reserves decreased $201 million and member bank reserve balances at the Federal Reserve Banks decreased $597 million. Estimated required reserves decreased $302 million; and estimated excess reserves decreased $496 million to $507 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $456 million, compared with the revised figure of $827 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $253 million in U. S. Government securities held under repurchase agreement, $125 million in member bank borrowings, $460 million in Federal Reserve float, and $119 million in gold stock. The p r i n c i p a l offsetting changes were decreases of $212 million in currency in circulation, $28 million in Treasury deposits with Federal Reserve Banks, and $121 million in other deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $850 million. As of Wednesday, January 11, holdings of U. S. Government securities bought outright were $7 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $208 million lower, and member bank borrowings were $29 million lower. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Change from week. ended Wednesday J an» 13, Jan. 11, J an. 11, Jan. 4, 1961 I960 1961 1961 (]in millions of dollars) 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)1 Total reserves held Required reserves (estimated) Excess reserves (estimated) 26,986 138 + 2 -253 52 6 - 14 -125 + 1 -468 -658 -119 ^975 32,637 403 413 239 387 941 35,020 -212 + 1 - 28 6 -121 - 13 -379 16,605 -597 -201 -798 -302 18,638 507 26,991 13 8 4 48 860 5 87 36 -1,826 + 84 -1,779 61 + 51 9 1,356 28,597 17,629 5,399 51,625 2,540 19,145 + 647 + 82 — - -496 - - + + + 8 1,109 28,230 17,615 5,402 51,247 355 7 106 69 + 55 + 101 + 330 32,445 416 558 -2,108 16,252 2,806 - +2,224 + 116 + 166 - 50 256 379 940 34,994 19,058 18,597 461 On January 11, 1961, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,498 million, a decrease of $93 million for the week and an increase of $1,097 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 dollars) Change since Jan. 13, Jan. 4, I960 1961 Jan. 11, 1961 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 16,252,642 1,064 >97 17,317A39 + 86,171 -1,841,831 72,700 51,609 - 22,584 20,527 69,125 28,949 - 429,929 + 4,595 609,324 413,369 F. R. notes of other Banks Other cash + + 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 48,104 1 14,113 2,907,173 9,059,743 12,481,298 2,543,071 26,991,205 12,500 27,003,705 7,000 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,121,014 15 5,708,931 107,728 237,643 51,515,163 LIABILITIES 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 -1,928,002 63,999 1,110 65,109 + 743,208 -1,447,250 +1,471,000 + 7,000 - 244,363 + 994,948 76 + 59,300 '+ 826,258 42,000 - 208,300 + 704,258 - 201,300 + 358,924 - 308,691 -1,162,006 18,029 + 8,151 61,211 -1,887,769 28,184,732 215,552 + 243,690 16,252,388 - 862,588 + -2,016,188 557,802 255,571 379,323 17,445,004 4,599,704 31,221 50,260,741 + + 245,423 4,034 1,183 - 614,314 - 350,226 + 797 -1,179,295 + 64,695 35,228 + 44,886 -1,941,035 412,917 817,423 24,082 51,515,163 + + 24,697 + 42,615 21,933 -1,807,769 38.0% + '&P 221,221 - 4,269 2,015 + 15,274 -1,162,006 - 238,117 + 3,114 -1,933,140 2.' + 128,453 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 11, 1961 (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 62,460 6,665 Acceptances 14,399 33,705 69,125 40,104 U. S. Government securities 540,553 5,153,963 9,171,765 10,679,647 1,178,574 271,283 27,003,705 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON- JANUARY 11, 1961 St. ClevePhilaRichmond Atlanta Chicago Louis Boston New York land delphia (In thousands of dollars) 8.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F.R. notes of other Banks Other cash Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 16,252,642 1,064,49? 17,317,139 Minneapolis San Dallas Francisco Kansas City 785,982 3,891,466 949,401 1413,207 1015,461 828,652 2847,096 692,967 339,980 761,725 672,936 2053,769 61,897 251,540 65.413 91,488 87,579 6.3,019 187.912 46,425 25,908 49,063 32,528 101,705. 847,879 4,143,006 1014,834 1504,695 1103,040 891,671 3035,008 739,392 365,888 810,788 705,464 2155,474 609,324 413,369 59,778 45,092 34,035 35,269 71,439 29,308 54,488 68,739 22,149 23,84? 19,389 14,966 41,914 26,451 19,093 28,632 153,362 79,376 16,294 29,365 15,782 59,220 66,432 69,125 3,392 9,960 3,564 9,044 3,068 14,769 11,793 5,272 4,084 2,239 964 976 8,273 48,104 48,104 II ill 1 1 I I 1 1 I I I I I I I I I I 1 1 I I 2,907,173 9,059,743 12,481,298 2,543,071 26,991,285 1450,512 6,732,490 1545,413 12,500 12,500 2319,010 1708,413 -- -- — 1479,959 4619,774 1090,907 626,333 1158,493 1087,749 — 2] 22 2! II "" Total U. S. Govt, sees. 27,003,785 1450,512 Total loans & securities 27,121,014 1453,904 6,803,054 1548,977 2328,054 1711,481 1494,728 4631,567 1096,179 630,417 1160,732 1088,713 3173,208 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 5,708,931 107,728 % 12,651 237,643 51,515,163 2739,749 6,744,990 1545,413 1 / 4 58,851 2319,010 1708,413 -- 3172,232 1 *<•% 13,387 1 1479,959 4619,774 1090,907 626,333 1158,493 1087,749 1 1 2 % 20,431 15,085 % 13,825 ^ 39,891 % (2) (2) 1 3 9,560 5,492 1:|3 % 10,646 3172,232 1 9,802 2 1 ; | 28,022 12,331,338 2987,928 4375,291 3360,687 3004,194 8756,191 2152,786 1200,663 2335,863 2134,148 6136,325 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. m .b * i(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves y.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES gTATRMRNT QF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 11, 196l St. Phi la- iCleve Richmond Atlanta Chicago Boston New York Louis delphia1 land (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 1620,503 6,566,929 1851,329 2557,016 2163,148 1616,615 5260,169 1222,609 594,631 1147,176 828,444 2756,163 944,977 2518,472 16,252,388 670,897 4,245,679 726,403 1255,391 723,948 836,991 2470,058 632,954 399,524 827,094 28,184,732 57,431 44,287 557,802 31,897 11,662 1/84,211 13,804 255,571 293 316,853 1,215 379,323 17,445,084 714,749 4,704,174 785,709 4,599,704 341,074 31,221 1,659 412,917 817,423 24,082 20,203 40,330 1,231 36,970 22,134 513 1315,008 30,914 10,948 5,187 770,997 41,499 12,614 1,176 77,961 33,558 998 892,280 2582,575 35,115 8,092 535 676,696 78,424 29,813 51,857 41,634 13,804 29,036 5,474 10,234 591 49,327 542 2,093 435,353 891,278 1001,006 2675,259 702,087 275,968 384,501 366,724 426,839 729,231 210,041 140,904 242,802 232,115 547,418 1,023 1,249 1,110 3,642 7,964 1,744 2,829 1,830 1,506 5,450 1,215 50,260,741 2677'985 11,981,154 2914,750 4259,354 3302,699 2937,240 8577,425 2110,561 1171,911 2282,505 2062,675 5982,482 CAPITAL ACCOUNTS Capitaljpaid in Other ca^btal accounts JTCmL LIABILITIES AND CAHTAL ACCOUNTS Conting. liab. on acdeptances purchased for foreign correspondents 51,515,163 2739,749 221,221 10,839 114,787 229,103 6,294 24,153 47,663 1,362 38,253 75,600 2,084 18,939 37,559 1,490 22,033 58,838 43,677 115,653 1,244 4,275 13,803 27,531 891 9,420 18,826 506 17,508 34,840 1,010 23,556 47,008 909 51,424 99,633 2,786 12,331,338 2987,928 4375,291 3360,687 3004,194 8756,191 2152,786 1200,663 2335,863 2134,148 6136,325 2/61,957 12,829 20,571 10,175 11,724 FEDERAL RESERVE AGENTS' ACCOUNTS 29,635,016 1691,191 6,960,862 1928,846 2712,689 2260,681 1711,283 31,189 7,521 5,088 9,512 12,830 26,986 5444,161 1272,330 673,238 1178,901 878,263 2922,571 F. R« notes outstanding Collat. for F. R. notes: 180,000 300,000 275,000 1100,000 Gold certificate acct. 9,385,000 500,000 2,000,000 650,000 920,000 700,000 550,000 1800,000 410,000 1,895 3,100 — — — — 5,000 Eligible paper 9,995 510,000 900,000 625,000 2000,000 U. S. Govt, securities 21,065,000 1250,000 5,100,000 1325,000 1830,000 1590,000 1200,000 3800,000 935,000 % % % g a s s g£:ss; Z M &*>:«»> o K a o *>:<*>» m m * Total collateral 30,459,995 1750,000 1/ After deducting $171,360,000 participations of other Federal Reserve Banks, 2/ After deducting $159,264,000 participations of other Federal Reserve Banks.
@FedFRASER