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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM a.4.i For Immediate Release January l4, 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 daily figures of total member bank reserves held during the week ended January 13 decreased $118 million to $19,028 million, all of which was in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $192 million; and estimated excess reserves increased million to $583 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $328 million, compared with $504 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $317 million in Federal Reserve float, $247 million in Federal Reserve holdings of U. S. Government securities, and $102 million in member bank borrowings. The principal offsetting changes were decreases of $237 million in currency in circulation, $221 million in "other" deposits with Federal Reserve Banks, $63 million in Treasury deposits with Federal Reserve Banks, and $40 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $685 million. As of bought outright securities held bank borrowings Wednesday, January 13, holdings of U. S. Government securities were $442 million lower than a week earlier, U. S. Government under repurchase agreement were $31 million higher, and member were $786 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 Wednesday January 13, January 6, January 14, Jan. 13, I960 I960 I960 1959 (In millions of dollars) 26,339 56 -268 + 21 + 522 k9 - 26,165 55 44 10 - 19 4- 911 4 1,269 28,633 19,455 5,315 53,404 -102 - 1 -317 -685 - 1 + 1 -685 198 l4 + 258 + 925 -1,071 481 64 495 4 1,180 27,942 19,455 5,315 52,712 32,282 4l0 519 308 332 840 34,690 -237 - 3 - 63 - 40 -221 - 3 -568 + 572 294 + 129 + 11 13 281 + 123 32,070 4l6 493 291 334 839 34,444 18,713 315 19,028" 18,445 583 -118 188 315 127 + 105 + 22 18,269 315 18,584 18,48o 104 «• — — — -ll8 -192 + 74 44 mm w 9 + - - - - + + mm mm On January 13, i960, U. S. Government securities held ifi custody by the Federal Reserve Banks for foreign account were $4,401 million, a decrease of $15 million for the week an an increase of $786 million from the comparable date a year ago. H.4.1(a) , |!TM'3Etel\iT OF CONDITION OF THE TVikLVB FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS January 13, I960 Change since January 6, January 1% I960 1959 18,180,644 978,326 19,158,970 + 433,896 499,054 - 631,908 43,509 -- 2,163,965 10,506,993 11,010,298 2,483,771 26,165,027 54,500 26,219,527 + + 4,999 241 4,758 71,338 50,497 786,050 ~ + - + + - 807,247 37,853 769,394 2,691 10,053 23,790 336 -- - 1 22,204 + - 1,148 - 44l, 800 + 349,915 - - - "8;,142,733 +8,142,733 • 219 ** - 441,800 + 30,500 - 411,300 + + 349,915 31,700 318,215 -1,219,555 + 293,160 26,762,090 15 6,017,622 99,577 298,854 53,402,932 45,299 14 + 20,420 -1,127, 371 + + + 201,160 5,783 125,450 + 474,4l4 m - 131,097 L I A B I L I T I E S Federal Reserve notes ~* Deposits: Member "bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,941,042 - 18,268,576 493,107 290,799 334,437 19,366,919 4,837,821 28,107 52,193,889 - 974,346 - 156,764 43,959 CAPITAL ACCOUNTS Capital paid"in" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 388,220 774,808 46,015 53,402,932 + 500 — + 18,590 -1,127,371 + 21,^It- 93,602 - 82,919 - 131,097 40.5$ + 1.2$ - 1.7$ 92,768 -- - 26 + - 27,690 960 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - 209,179 11,658 -1,186,727 + 249,476 31 -1,146,461 -- 444,333 68,064 12,975 25,488 4i4,732 39,977 + 4,225 4- 23,930 - + » MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 13, 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 493,716 5,327 11 499,054 Acceptances 9,272 34,237 %3l5^ U. S. Government securities 674,790 6,704,203 10,846,465 6,523,912 677,384 792,773 26,219,527 E.4.1(b) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE . BANK OK JANUARY 13. I960 Cleve St. Boston New York Ehila delphia land Richmond Atlanta I Chicago Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Franciscc ASSETS Gold certificate account 18,180,644 796,959 4,841,095 1013,463 1602,110 986,172 878,716 3149,526 725,470 391,879 720,408 654,710 2420,136 Redemption fund for F. R. notes 978,326 59,399 212,180 60,538 87,334 83,080 64,295 181,913 46,127 23,315 4$,077 30,953 84,115 Total gold certificate reserves 19,158,970 856,358 5,053,275 1074,001 1689,444 1069,252 943,011 3331,439 771,597 415,194 765,485 685,663 2504,251 F.R. notes of other Banks Other cash 631,908 433,896 46,109 25,584 131,119 80,613 46,237 22,390 40,365 37,748 77,505 30,029 75,432 32,921 56,511 77,377 20,303 24,746 20,485 12,502 21,754 16,858 40,269 16,952 55,819 56,176 Discounts and advances Acceptances: Bought outright U. S. Govt* securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 499,054 22,154 25,890 31,851 40,501 22,120 80,513 110,050 18,697 8,717 43,987 66,732 27,842 544,566 123,403 187,352 117,319 569,637 2,644,106 599,172 909,674 596,923 2,770,763 627,873 953,250 625,046 141,639 215,040 134,658 1418,537 6,504,481 1492,007 2265,316 138,683 673,373 705,628 159,180 1676,864 88,009 49,288 93,277 86,373 427,319 239,318 452,904 419,376 447,789 250,782 474,599 439,465 101,015 56,573 107,063 99,137 1064,132 595,961 1127,043 1044,351 247,166 1200,098 1257,585 283,694 2988,543 Total U. S. Govt, sees. 43,509 2,163,965 10,506,993 11,010,298 2,483,771 26,165,027 43,509 54,500 TOTAL ASSETS 374,479 1818,256 1905,354 429,821 4527,910 5 0 0 mm tm am mm m* we 26,219,527 1418,537 6,638,981 1492,087 2265,316 1676,864 1379,002 4527,910 1064,132 595,961 1127,843 1044,351 2988,543 Total loans & securities 26,762,090 1440,691 Due from foreign banks Cash items in process of collection Bank premises Other assets 114,050 553,760 580,287 130,905 1379,002 15 1 6,708,380 1523,938 2305,817 1698,984 1459,515 4637,960 1082,829 1/4 1 1 1 1 2 6,017,622 418,433 1,077,655 370,386 512,651 475,835 540,215 982,670 4,328 9,858 4,036 9,315 6,651 99,577 9,542 15,613 298,854 16,037 74,533 16,741 25,851 19,086 16,881 50,820 2/ 268,570 7,036 12,065 604,678 1171,830 1111,083 3016,385 2/ 1 1 2 159,095 296,426 285,277 630,409 5/059 4,622 11,339 12,178 6,801 13,791 12,075 34,173 53,402,932 2807,541 13,135,437 3057,730 4621,192 3377, 343 3077,518 9152,392 2187,146 1223,814 2290,767 2162,659 6309,393 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. H.4.1(e) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK JANUARY 1. i960 Phila- CleveSt. Minne- Kansas San Total Boston New York delphia Dallas land Richmond Atlanta jChicago Louis City apolis Francisco (In thousands of dollars) 27,941,042 1600,368 6,529,324 1789,825 2555,277 2112,301 1575,728 5275,019 1231,993 605,134 1111,644 809,126 2745,303 l i a b i l i t i e s Federal Reserve notes Deposits: 18,268,576 715,376 5,078,188 860,767 1456,650 758,768 934,455 2841,687 655,450 423,824 831,883 975,975 2735,553 Member bank reserves 493,107 36,311 75,559 27,259 43,979 37,398 29,803 U. S. Treas.- gen.acct. 41,763 30,657 25,713 48,304 40,908 55,453 26,4l4 12,645 14,612 38,778 290,799 13,769 1/89,884 16,579 Foreign 9,273 6,463 11,521 16,298 34,563 516 273,889 1,283 1,160 4,107 Other 1,066 334,437 1,711 761 761 438 1,836 46,909 Total deposits 19,355", 919 765,972 5,517,520 905,080 1528,203 012,918 980,581 2922,989 696,141 456,438 892,774 1035,017 2872,478 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,837,821 378,949 738,558 289,278 422,637 395,346 Conting. liab. on acceptances purchased for foreign correspondents 780,842 217,314 133,868 235,560 248,633 540,215 28,107 1,862 7,720 1,437 2,434 1,536 1,228 4,668 1,027 942 1,124 985 3,144 52,193,889 2747,151 12,793,122 2986,428 4508,551 3322,101 3014,158 8983,518 2146,475 1196,382 2241,102 2093,761 6l6l,l40 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 456,621 388,220 774,808 46,015 19,193 38,332 2,865 110,538 220,905 10,872 22,855 45,638 2,809 36,340 72,530 3,771 & 3,307 20,333 53,806 40,306 107,334 2,721 7,734 12,971 25,862 1,838 8,803 17,580 1,049 15,929 31,720 2,016 22,360 44,645 1,893 47,723 95,390 5,140 53,402,932 2807,541 13,135,437 3057,730 4621,192 3377,343 3077,518 9152,392 2187,146 1223,8l4 2290,767 2162,659 6309,393 92,768 4,547 <2/26,416 5,475 8,723 4,176 4,826 12,807 3,063 2,134 3,805 5,382 ll,4l4 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,338,68311694,949 Collat. for F. R. notes: Gold certificate acct. 10,650,000 530,000 88,003 -Eligible parser U. S. Govt, securities 19,530,000 1250,000 Total collateral 30,268,003 1780,000 1/ After deducting $200,915,000 participations 2/ After deducting $66,352,000 participations 6,934,186 1858,046 2636,631 2210,609 1672,543 5465,793 1298,433 621,155 1147,513 064,321 2934,504 2,900,000 700,000 920,000 700,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 25,615 -—— -— 18,565 — 43,823 —-4,200,000 1200,000 i75o,ooo 1550,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000 7,100,000 1925,615 2670,000 2250,000 1700,000 5600,000 1383,565 630,000 1213,823 915,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER