The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GtiVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I For Trrmediate Release January 21, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD 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 20 decreased $111 million to $18,923 million, which included a decrease of $65 million in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $8l million; and estimated excess reserves decreased $30 million to $538 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $376 million, compared with $3^3 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $719 million in U. S. Government securities bought outright and $54 million held under repurchase agreement. The principal offsetting changes were an increase of $244 million in Federal Reserve float, and decreases of $372 million in currency in circulation and $77 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $535 million. As of bought outright securities held bank borrowings Wednesday, January 20, holdings of U. S. Government securities were $654 million lower than a week earlier, U. S. Government under repurchase agreement were $55 million lower, and member were $275 million higher. Member bank reserves, Reserve Bank credit, and related items Averages of daily figures Week ended Jan. 20, I960 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) Change from week ended Jan. 13, Jan. 21, I960 1959 (In millions of dollars) 25,620 2 -719 - 54 + + 45 + 1 - 10 + + + - - 914 4 1,513 28,098 19,455 5,316 52,869 3 +244 -535 31,910 424 494 231 326 836 34, 221 -372 + 14 - 25 - 77 - 6 - 4 -469 18,648 275 18,923 18,385 538 - 65 - 46 — — + 1 -535 -ill - 81 - 30 ho 2 — w. Wednesday Jan. 20, I960 25,511 42 2 — — 476 15 4- 225 4- 730 -1,060 + 82 247 770 3 1,214 27,540 19,455 5,317 52,311 + 525 288 93 126 47 282 126 31,764 4i8 470 215 328 836 34,032 121 275 154 151 3 18,279 275 18,554 1 18,297 ! ! 257 - - - + - - - + + + + On January 20, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4, 501 million, an increase of $100 million for the week and an increase of $916 million from the comparable date a year ago. H.4.1(a) Of, CONDITION OF THE TWELVE! 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 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 Change since Jan. ^1, Jan. 13, I960 1959 Jan. 20, I960 18,190,643 974,028 19,164,671 697,136 470,233 773,169 + - + + + + 9,999 4,298 5,701 65,228 36,337 274,115 + + + 1,671 + - - 41,838 - 1,510,145 10,506,993 11,010,298 2,483,771 25,511,207 653,820 W- 807,249 33,555 773,694 24,606 2,064 349,034 335 1,762 . 21,005 -81,142,733 +8,142,733 653,820 54,500 708,320 - 21,005 - 21,005 26,326,214 15 5 6,274^824 + 101,071 + 317,4ll + 53,351,57% - 435,876 + 329,456 + + + 485,074 6,695 132,479 206,680 + 462,757 - 25,511,207 - - - «•» w — — 257,202 1,494 18,557 51,357 L I A B I L I T I E S Federal Reserve note's ~~ Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,743,447 197,595 18,279,083 470,362 215,364 327,932 19,292,741 5,061,070-' 26,389 52,1237647, 10,507 22,745 75,435 .A505 94,178 223,249 CAPITAL A C C O U N T S CapTtaTpaid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 389,085 774,808 64,035 53,351,575 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + + - 610,292 + 125,110 - 117,873 - 19,969 - 623,024 + - 70,242 + 353,287 + 865 + 18,020 51,357 + + 21,478 93,602 74,483 h-oH 40.7# 121,505 509,249 1.5$ + 28,737 + 58,428 960 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 20, 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 768,183 4,936 50 --__ 773,169 Acceptances 7,841 33,997 — __ __ 41,838 U. S. Government securities 369,150 6,381,913 10,766,075 6,523,912 #77,384 792,773 25,511,207 E.4.1(b) Total ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 20, i960 CleveFhilaSt. Boston Richmond Atlanta Chicago New York land delphia Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Franciscc 18,190,643 856,357 4,878,845 964,809 1583,457 1000,324 888,489 3205,409 702,361 384,005 693,227 640,196 2393,164 974,028 19,164,671 59,144 211,166 60,145 86,962 82,009 63,973 181,537 46,039 23,226 44,998 30,898 83,931 915,501 5,090,011 1024,954 1670,419 1082,333 952,462 3386,946 748,400 407,231 738,225 671,094 2477,095 F.R. notes of other Banks Other cash 697,136 470,233 52,479 29,125 151,537 88,110 48,357 26,609 46,657 42,642 81,091 34,387 57,917 80,754 21,272 25,488 24,870 12,887 20,724 17,460 45,737 17,671 62,107 62,230 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 773,169 25,260 54,440 59,357 79,117 30,260 102,196 143,561 48,334 6,989 61,486 64,300 97,869- 41,838 1,510,145 10,506,993 11,010,298 2,483,771 25,511,207 84,388 32,870 41,838 81,872 380,031 86,118 130,745 96,781 569,637 2,644,106 599,172 909,674 673,373 596,923 2,770,763 627,873 953,250 705,628 625,046 141,639 215,040 159,180 134,658 1303,090 6,419,946 1454,002 2208,709 1634,962 79,591 553,760 580,287 130,905 1344,543 261,334 1818,256 1905,354 429,821 4414,765 61,4l8 34,396 65,095 60,276 427,319 239,318 452,904 419,376 447,789 250,782 474,599 439,465 101,015 56,573 107,063 99,137 1037,541 581,069 1099,661 1018,254 172,488 1200,098 1257,585 283,694 2913,865 Total U. S. Govt, sees. 25,511,207 1383,090 6,419,946 1454,802 2208,709 1634,962 1344,543 4414,765 1037,541 581,069 1099,661 1018,254 2913,865 Total loans & securities 26,326,214 1408,350 6,516,224 1514,159 2287,826 1665,222 1446,739 4558,326 1085,875 588,058 Il6l,l47 1082,554 3011,734 Due from foreign banks "Cash items in process . of. collection Bank premises Other assets TOTAL ASSETS frtl 1 1 / 4 1 1 1 1 2 2 / 2 / 1 1 2 '/3c 6,274324 450,760 1,249,850 374,609 521,516 477,082 548,769 979,671 260,363 161,321 301,363 302,909 646,611 4,622 11,662 12,169 4,328 9,858 4,036 9,317 6,644 10,083 16,255 101,071 7,036 5,061 14,581 13,030 36,383 317,4ll 17,140 54,103 12,781 7,199 79,090 17,775 27,592 20,308 17,429 53,351,575 2877,684 13,184,684 3010,500 4605,970 3367,068 3092,741 9133,974 2161,215 1206,627 2258,129 2144,658 6308,331 1/ After deducting $11,000 participations of other Federal Reserve Banks, g/ Less than $500. y/.d . --tr- ^cc/j H.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves -G.S.Treas.-gen.acct« Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAEjK ON JANUARY 20, I960 Phila- CleveSt. Boston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City San Dallas Francisco 27,743,447 1588,459 6,492,626 1777,521 2537,275 2093,989 1568,600 5246,369 1222,635 603,366 1103,588 803,352 2705,667 18,279,083 781,110 5,060,647 815,110 1447,250 772,587 979,362 2802,175 659,954 408,342 818,136 974,765 2759,645 470,362 22,829 54,350 24,514 34,184 41,277 14,022 63,017 29,108 23,865 38,770 51,988 72,438 215,364 10,437 1/63,069 12,567 20,022 9,585 11,076 29,394 7,029 4,899 8,733 12,354 26,199 327,932 370 266,482 2,059 1,276 3,234 1,371 1,147 l,04l 261 1,108 1,381 48,202 19,292,741 014,746 5)444,548 854,250 1502,732 826,683 1005,«31 2895,733 697,132 437,367 866,747 1040,488 2906,48f *37 5,061,07© 411,889 W/ 893,775 305,031 449,208 388,533 452,581 815,073 199,101 137,091 236,254 230,053 542,481 26,389 1,275 6,489 1,318 2,565 1,456 1,375 4,518 928 986 1,027 1,094 3,358 52,1237647 2816,369 12,837,438 2938,120 4491,780 3310,661 3028,387 8961,693 2119,796 1178,810 2207,616 2074,987 6157,990 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 389,C85 774,808 64,035 19,202 38,332 3,781 110,891 220,905 15,450 22,879 45,638 3,863 36,354 72,530 5,306 17,434 34,566 4,407 20,375 53,980 40,306 107,334 3,673 10,967 13,013 25,862 2,544 8,827 17,580 l,4l0 16,002 31,720 2,785 22,394 44,645 2,632 47,734 95,390 7,217 53,351,575 2877,684 13,184,684 3010,500 4605,970 3367,068 3092,741 9133,974 2161,215 1206,627 2258,123 2144,658 6308,331 121,505 5,953 2/34,632 7,168 F F. R. notes outstanding 29,205,414 1688,422 Collat. for F. R. notes: Gold certificate acct. 10,650,000 530,000 Eligible paper 158,778 -U. S. Govt, securities 19,510,000 1250,000 Total collateral 30,318,778 1780,000 1/ After deducting $152,295,000 participations 2/ After deducting $86,873,000 participations i 11,421 e o 5,467 x a 6.318 ? 4/7-5 16,767 4,010 2.795 4.982 7.047 14.945 ceo cats 6,902,093 1848,123 2627,283 2195,994 1666,460 5447,430 1290,363 618,230 1142,015 859,417 2919,584 2,900,000 700,000 920,000 700,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 -— 49,180 ——— 48,235 —61,363 -— 4,200,000 1200,000 1750,000 1530,000 1200,0C0 3700,000 935,000 450,000 870,000 625,000 1800,COO 7,100,000 1949,180 2670,000 2230,000 1700,000 5600,000 1413,235 630,000 1231,363 915,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER