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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release January 5, 1961 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION. OF THE FEDERAL RESERVE BANKS The average of d a i l y figures of t o t a l member bank reserves held during the week ended January 4 increased a net of $352 million t o $19,810 million, which r e f l e c t e d an increase of $374 million in member hank reserve balances at the Federal Reserve Banks. Estimated required reserves increased $144 million; and estimated excess reserves increased $208 million t o $909 m i l l i o n . Excess reserves exceeded member hank borrowings at the Federal Reserve Banks by $733 million, compared with the revised figure of $652 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 increases of $38 million in U. S. Government s e c u r i t i e s bought outright and $263 million held under repurchase agreement, and $127 million in member bank borrowings, and decreases of $346 million in currency in circulation, $8l million in Treasury deposits with Federal Reserve Banks, and $65 million in "other" F. R. accounts ( n e t ) . The p r i n c i p a l o f f s e t t i n g changes were decreases of $348 million in Federal Reserve f l o a t and $134 million in gold stock, and an increase of $ 9 6 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank c r e d i t increased $97 million. As of bought outright s e c u r i t i e s held bank borrowings Wednesday, January 4, holdings of U. S. Government s e c u r i t i e s were $36 million higher than a week e a r l i e r , U. S. Government under repurchase agreement were $56 million lower, and member were $19 million higher. Averages of d a i l y figures Week ended Change from week ended J an. 4, Dec. 28, Jan . 6, Member bank reserves, Reserve Bank c r e d i t , and related items 1961 Reserve Bank c r e d i t : 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 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) I960 I960 (][n millions of d o l l a r s ) 26,984 391 52 20 176 8 1,824 29,455 17,748 5,39ff. 52,601 32,849^3 • 4 Mozsqq Wednesday, Jan. 4, 1961 + 38 +263 + + 377 356 26,984 221 + 2 + 15 + 8 9 48 14 +127 + 1 -348 + 97 -134 + 1 - 36 837 + 3 + 238 4- 137 -1,708 + 86 -1,487 90 8 1,754 29,119 17,670 5,399 52,188 -346 + 32,785 403 312 252 381 940 35,073 + 1 441 245 508 954 35,39# - 81 - 15 + 96 - 65 -4io 17,202 2,608 19,810 18,901 909 +374 - 22 +352 +144 +208 - • • * + 325 5 l4i 103 45 111 142 -1,629 +2,298 + 669 + 281 + 388 17,115 2,649 19,764 18,879 885 On January 4, 1961, 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 $5,591 million, a decrease of $270 million f o r the week and an i^cje&^g.pf $1,175 million from the comparable date a year ago. •> ' • ' 1 • - , .... i H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) Dec. 28, I960 J an • 4, 1961 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e r e s e r v e s + 87,522 -1,781,480 + 108,252 43, ikb - 98,074 + 20,296 48,105 14,113 + - 1 2,852 2,900,173 9,059,743 + 36,000 17,382,248 536,624 + - 361,760 Discounts and advances Acceptances: Bought o u t r i g h t Held under repurchase agreement U. S. Government s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total bought o u t r i g h t Held under repurchase agreement Total U. S. Government s e c u r i t i e s - • 12,481,298 2,543,071 26,984,285 220,800 27,205,085 27,365,377 15 6,703,879 Total loans and s e c u r i t i e s Due from f o r e i g n banks Cash items i n process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS CAPITAL ACCOUNTS Capital-paid I n " Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold c e r t i f i c a t e r e s e r v e s t o deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents + • - - 36,000 56,300 20,300 2,855 -1,869,002 23,946 21,639 -1,187,030 + 4,595 8,091 + 294,408 -1,447,250 +1,471,000 + 59,300 + 377,458 + 196,800 + 574,258 - + 219,6l4 52,677,169 + + 28,400,284 - 174,899 - 530,629 104,084 13,4o6 40,295 + 372,844 + 97,609 14,237 +2817317 17,114,976 312,379 251,537 380,506 18,059,398 4,949,930 30,424 + 410,902 817,423 8,808 52,677,169 + + - 2,386 42,615 92,270 234,048 + 640,958 + 8,061 58,820 -1,853,134 + 250,063 -2,127,946 - 337,492 - 83,221 + 34,411 -2,514,248 + 361,585 + 2,286 23,182 42,615 18,617 17553,134 l.S 37*4$ 225#490 616,268 - - m - 235,531 198 17,362 234,048 107,652 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r - - g e n e r a l account Foreign Other Total d e p o s i t s 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 I960 192,002 24,8l4 167,188 16,316,64i 1,065,607 F. R. notes of other Banks Other cash since Jan. 6, 6,694 132,696 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 4, 1961 (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 i n accordance with maximum m a t u r i t y 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 91,809 ~ 6,265 98,074 Acceptances 30,639 31,579 62,218 U. S. Government securities 7397953 5,149,873 9,185,765 10,679,647 1,178,574 271,283 27,205,005 STATEMEZC OF CONDITION OF EACH FEDERAL RESERVE BANK ON JrANUARY 4, 1961 St. Cleve- Richmond Atlanta Chicago PhilaBoston T New York Louis land delphia (In thousands of d o l l a r s ) E,4.1(b) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes T o t a l gold c e r t i f i c a t e reserves 331,534 188,746 46,637 26,021 49,231 664,021 357,555 727,644 23,305 23,331 19,655 7,834 19,583 15,915 25,502 14,688 51,395 58,742 4,6l4 1,684 3,022 2,864 984 1,065,607 62,350 254,558 17,382,248 825,256 4,597,864 F.R. notes of other Banks Other cash 536,624 128,334 61,806 37,682 10,356 30,760 31,901 39,689 22,275 64,873 26,219 41,757 361,760 54,089 24,877 63,816 Discounts and advances Acceptances: Bought o u t r i g h t Held under r e p . a g r e e . U. S. Govt= s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under r e p . a g r e e . 98,074 1,042 2,730 2,677 752 2,710 27,266 47,729 - - - - 66,245 1?.6,665 26,934,285 1450,136 220,800 92,216 81,209 63,610 965,237 1553,982 1084,930 880,620 2974,280 48,105 14,113 155,856 486,870 12,481,298 670,745 678,413 604,832 2011,243 Dallas 617,384 4,343,306 2,900,173 9,059,743 Kansas City 898,992 1461,766 1003,721 817,010 2785,534 16,316,641 762,906 48,105 14,113 San Francisco Minneapolis 32.674 102.110 637,506 2113,353 - - - - - - - - - 67,298 124,479 116,877 340,852 723,395 166,052 249,174 183, 566 159,019 496,388 117,217 2 2,259,790 518,725 778,386 573,437 496,754 1550,648 366,167 10,231 388,854 365,108 1064,773 3,113,235 714,629 1072,356 790,004 684,362 2136,274 504,457 289,628 535,710 502,996 1466,902 634,324 145,606 219,493 160,963 139,440 435,266 102/783 59,013 ..109,150 102ji86 298.882 6,730,744 1545,012 2318,409 1707,970 1479,575 4618,576 1090,624 626,170 1158,193 1087,467 3171,409 220,800 6,951,544 1545,012 2318,409 1707,970 1479,575 46l8,576 1090,624 626,170 1158.193 1087.467 1171.409 T o t a l U. S. Govt, s e e s . 27,205,085 1450,136 T o t a l loans & s e c u r i t i e s 27,365,377 1451,178 7,016,492 1547,689 2319,161 1710,680 1506,841 4666,305 1095,238 627,854 1161,215 1090,331 3172,393 Due from f o r e i g n "banks Cash items i n process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 15 6,703,879 107, 652 219,614 l 1/4 465,012 1,407,688 9,386 3,913 54.173 11.7-sd 1 1 1 401,858 611,095 509,998 8,617 6,113 3,791 13,309 18,732 12,358 (2) (2) 1 592,919 979,537 302,374 11,428 6,625 22,159 12,848 ___37^52_ 8,809 166,812 4,974 5,078 325,232 5,133 9.911 1 2 1 2 278,581 662,773 13,900 9,107 11,613 25,599 >2,677,169 2856,064 13,275,747 2978,972 4574,249 3387,495 3095,749 8785,308 2123,703 1189,762 2 2 6 4 , 6 3 4 2069,616 60 1 ——————— y A f t e r deducting $11/000"participations of other Federal Reserve Banks 2 / Less than $500. U • *r • «L V / Total Boston I PhilaNew York ] aelphia L I A B I L I T I E S F e d e r a l Reserve notes Deposits: Member bank r e s e r v e s U.8.Tre&s.-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 28,400,284 1627,840 17,114,976 312,379 251,537 180.506 18,059,398 4,949,930 Cleve^ land Richmond A t l a n t a Chicago (In thousands of d o l l a r s ) St. Louis 704,449 1326,365 697,409 874,199 2536,731 587,416 752,589 744,783 1374,189 739,046 914,150 2606,040 861,862 297,234 5 0 9 , 0 7 7 407,965 482,803 393,196 Kansas City _ Q G 1 San Dallas [prancisco 6,638,390 1863,288 2573,809 2181,849 1631,165 5295,639 1230,116 595,660 1150,733 720,776 4,978,209 18,980 12,250 583 Minneapolis 50,021 1/72,787 119.611 5,420,648 19,359 14,750 6.225 23,248 23,500 1.076 27,129 11,250 1.258 25,751 13,000 1.200 34,064 34,500 745 15,539 8,250 470 611,675 410,475 19,726 5,750 395 436,346 779,289 20,091 10,250 2,240 811,870 833,730 2778,0 917,898 2581,760 31,048 14,500 886 27,423 30,750 43,_797 964,332 2683,730 703,469 239,184 128,246 248,136 199,702 479,056 1,481 8,772 1,648 2,649 1,730 1,595 5,090 1,094 1,084 1,245 1,017 3,019 30,424 51,440,036 2775,106 12,929,672 2906,953 4459,724 3330,590 3029,713 8610,230 2002,069 1161,336 2211,904 1990,701 5943 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents 410,902 817,423 8,808' 20,181 40,330 447 114,652 229,103 2,320 23,861 38**65 47,663 75,600 495 760 l8,8o4 37,559 542 21,909 57,850 43,677 115,653 450 1,567 13,772 27,531 331 9,415 18,826 185 17,445 34,840 365 23,517 47,008 110 51,331 99,633 1,036 52,677,169 2836,064 13,275,747 2978,972 4574,249 3387,495 3095,749 8785,308 2123,703 1189,762 2264,634 2069,616 6095,870 225,490 11,049 2/64,257 13,304 21,197 10,147 11,726 31,119 7,442 5,187 9,246 13,079 27,737 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s outstanding 29,711,572 1690,380 6,988,623 1934,603 2719,956 2266,223 1719,115 5448,258 1276,950 673,608 1183,870 881,907 2928,0 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 . 9,385,000 500,000 2,000,000 650,000 920,000 700,000 550,000 1800,000 410,000 180,000 300,000 275,000 1100,000 E l i g i b l e paper —-2,205 —— — -— — — 4,350 —2,694 ~9,249 U. S . Govt, s e c u r i t i e s 21,065,000 1250,000 5,100,000 1325,000 1830,000 1590,000 1200,000 3800,000 935,000 510,000 900,000 625,000 2000,0 Total collateral 30,459,249 1750,000 7,100,000 1977,205 2750,000 2290,000 1750,000 5600,000 1349,350 690,000 1202,694 900,000 3100 1 / A f t e r deducting $178,750,000 p a r t i c i p a t i o n s of o t h e r f e d e r a l Reserve Banks. 2 / A f t e r deducting $161,233,000 p a r t i c i p a t i o n s of o t h e r Federal Reserve Banks.
@FedFRASER