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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release January 7, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The average of d a i l y f i g u r e s of t o t a l member t a n k r e s e r v e s held during the week ended January 6 increased a net of $130 m i l l i o n t o $19, l60 m i l l i o n , which r e f l e c t e d in p a r t an increase of $171 m i l l i o n i n member bank reserve balances a t the Federal Reserve Banks. Estimated required r e s e r v e s increased $70 m i l l i o n ; and estimated excess r e s e r v e s increased $60 m i l l i o n t o $545 m i l l i o n . Member bank borrowings a t t h e Federal Reserve Banks exceeded excess r e s e r v e s by $468 m i l l i o n , compared with $443 m i l l i o n 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 decreases of $374 m i l l i o n i n currency in c i r c u l a t i o n , $352 m i l l i o n i n "other" F. R. accounts ( n e t ) , and $39 m i l l i o n in f o r e i g n d e p o s i t s with Federal Reserve Banks, and an increase of $85 m i l l i o n i n member bank borrowings. The p r i n c i p a l o f f s e t t i n g changes were decreases of $202 m i l l i o n i n Federal Reserve f l o a t and $180 m i l l i o n in U. S. Government s e c u r i t i e s bought o u t r i g h t , and increases of $220 m i l l i o n i n "other" d e p o s i t s with Federal Reserve Banks and $45 m i l l i o n in Treasury d e p o s i t s with Federal Reserve Banks. Total Reserve Bank c r e d i t decreased $311 m i l l i o n . As of bought o u t r i g h t s e c u r i t i e s held bank borrowings Wednesday, January 6, holdings of U. S. Government s e c u r i t i e s were $ l 4 l m i l l i o n lower than a week e a r l i e r , U. S. Government under repurchase agreement were $6 m i l l i o n lower, and member were $915 m i l l i o n h i g h e r . 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 o u t r i g h t 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 d e p o s i t s with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts ( n e t ) Member bank r e s e r v e s : With Federal Reserve Banks Cash allowed as r e s e r v e s (estimated) Total r e s e r v e s held Required r e s e r v e s (estimated) Excess r e s e r v e s (estimated) Averages of d a i l y f i g u r e s Week ended Change frcm week ended Wednesday January 6, December 30, January 7, January 6, I960 I960 1959 1959 (In m i l l i o n s of d o l l a r s ) -l80 - 7 + 517 - 59 26,607 24 5 + 4- 1 26 44 22 1,013 5 l , 586 29,318 19,456 5,314-4 + 85 + 387 13 1,281 4 1,475 29,456 19,456 5,314 32, 519 W 415 o'j -374 + 20 + 45 - 39 26,607 35 44 29 54,089- % 582 348 553 843 35,25» ' 18,831 329 19,160 18,615 545 - - — — -202 -311 — — + 1 -309 +220 -352 - + 185 +1,043 -1,078 + 80 + 46 + 511 288 + 136 - + + -48o + +171 - 4i +130 + 70 + 60 + + + + - 54,226 32,402 410 650 69 197 279 346 335 346 840 34,984 300 19,243 315 19,558 329 29 27 2 18,546 1,012 On January 6, 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 f o r e i g n account were $4,4l6 m i l l i o n , a decrease of $227 m i l l i o n f o r t h e week and an increase of $696 m i l l i o n frcm t h e comparable date a year ago..,.; y, r^i.94 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 ) January 6, i960 ASSETS Gold c e r t i f i c a t e - a c c o u n t Redemption fund f o r F. R. n o t e s Total gold c e r t i f i c a t e r e s e r v e s F . R. n o t e s of other Banks Other cash Discounts and advances I n d u s t r i a l loans 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 o u t r i g h t — Bills Certificates Notes Bonds Total bought o u t r i g h t Held under repurchase agreement T o t a l U. S. Government s e c u r i t i e s 2,605,765 10,506,993 11,010,298 2,483,771 26,606,827 24,000 26,630,827 Total l o a n s 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 p r o c e s s of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 27,981,645 15 6,062,921 99,591 278,434 54,530,303 18,185,643 978,085 19,163,728 560,570 383,399 1,285,104 Change since December 30, January 7, 1959 1959 + + + + 1 1 78,574 47,465 913,924 ~ 822,249 35,289 786,960 8,021 11,901 502,909 336 + + 222 21,919 + - + + - - 43,510 22,204 + 6 8,969 • 141,300 - » •* 602,715 -8,142,733 +8,142,733 •• m + - 141,300 6,000 147,300 + 757,661 +1,114,429 + + + + 354,892 326 18,518 547,001 - - + •» • ~ - 901,309 5,951 117,853 +1,356,462 L I A B I L I T I E S Federal Reserve n o t e s 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 28,150,221 - 164,164 t 19,242,922 649,871 334,758 346,095 20,573,646 4,588,345 28,138 5.3,340,350 +1,282,826 + 131,374 48,175 3,491 +1,369,516 320,835 17,426 + 867,091 + + + + + + + CAPITAL ACCOUNTS Capital"paid In" ~ Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 387,720 774,808 27,425 54,530,303 + + Ratio of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t 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 I n d u s t r i a l loan commitments 39.3% 92,794 602,715 13,000 589,715 - + 403 93,602 226,891 547,001 1.0# - + - - 481,871 328,331 82,716 59,316 12,689 483,052 548,608 6,770 +1,520,301 21,416 93,602 91,653 +1,356,462 - - 10,496 + - - - 2.5# 26,281 975 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 6, I960 (Acceptances and s e c u r i t i e s h e l d under repurchase agreement a r e c l a s s i f i e d a s maturing w i t h i n 15 days i n accordance with maximum m a t u r i t y of t h e agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s Over 10 y e a r s Total Discounts and _ advances 1,276,663 8,428 13 — --1,285,104 Acceptances 32,512 33,202 — — -__ 65,714 U. S. Government securities 775,330 6,964,663 10,896,765 6,523,912 677,384 792,773 26,630,827 E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 6, I960 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Total ASSETS Minneapolis Kansas City Dallas 664,220 377,344 68l,4io 738,875 2518,963 182,357 46,241 23,410 45,167 963,0083234,512 710,461 400,754 726,577 San Franciscc 18,185,643 892,020 978,085 59,652 19,163,728 951,672 560,570 383,399 4o,ll8 21,831 103,188 64,728 4l,492 19,229 38,629 34,892 70,763 27,264 71,765 29,326 47,941 69,955 20,462 24,176 20,247 12,067 20,175 15,191 37,075 16,636 Discounts and advances 1,285,104 24,045 Acceptances: Bought outright 43,510 Held under rep. agree. 22,204 U. S. Govt, securities: Bought outright— Bills 2,605,765 141,271 Certificates 10,506,993 569,637 Notes 11,010,298 596,923 Bonds 2 , 4 8 3 , 7 7 1 134,658 Total 26,606,827 1542,"589 Held under rep. agree. 24,000 —— 88,875 25,889 39,960 23,155 179,843 490,347 104,048 32,467 115,399 82,578 - - - - 655,746 148,597 225,602 166,997 137,334 450,934 105,977 2,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 2,770,763 627,873 953,250 705,628 580,287 1905,354 447,789 625.046 141,639 215,040 159.180 130.905 429.821 101,015 6 , 6 9 5 , 6 6 1 1517,281 2303,566 1705,178 1402,286 4604,365 1082,100 COO —— - ** 59,351 112,321 104, OCT 239,318 452,904 419,376 250,782 474,599 439,465 56,573 107.063 99.137 606,024 1146,887 1061,985 Total U. S. Govt, sees. 26,630,827 1442,489 6 , 7 1 9 . 6 6 1 1517.281 2303.566 1705.178 1402.286 46o4.365 1082,100 606.024 1146.887 1061.985 3019.005 Total loans & securities 27,981,645 1466,534 6,874,250 1543,170 2343,526 1728,333 1582,129 5094,712 1186,148 638,491 1262,286 1144,563 3117,503 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F.R. notes of other Banks Other cash Due from foreign tanks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 6,062,921 99,591 278,414 423,288 4,328 15.035 4,768,992 1049,377 1503,790 1040,118 213,325 60,965 87,708 79,240 4,982,317 1110,342 1591,498 1119,358 43,510 22,204 1 / 4 l , 149,891 9,858 68,996 - - 898,379 3052,155 64,629 - - - - 1 1 1 1 320,245 4,036 15.658 527,800 9,315 23,898 446,546 6,651 17.716 530,811 9,542 15.857 2 889,492 15,613 47,513 1 270,451 7,036 11.243 2/ 159,326 5,059 6,346 - - 31,037 84,354 769, 912 2603,317 - - 1 327,775 4,636 12.997 1 320,704 11,339 11.320 297,628 1200,098 1257,585 283,694 3039,005 1 696,592 12,178 31.855 54,530,303 2922,807 13,253,232 3054,173 4569,559 3416,632 3202,439 9399,740 2229,978 1242,290 2369,638 2311,550 6558,265 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. H.4.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 6, i960 Boston New York [Richmond A t l a n t a Chicago ^ Deferred availabilityc a s h items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES Kansas Dallas ^ a n ^ ( I n thousands of d o l l a r s ) L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U.S.Treas.-gen.acct. Foreign Other Total deposits Minne- 28,150,221 1610,632 6,600,594 1800,859 2563,807 2125,477 1591,032 5308,845 1241,184 606,723 1116,105 8l4,468 2770,495 19,242,922 802,968 5,135,818 847,073 1440,642 795,001 1067,712 3041,946 702,678 431,014 894,468 1113,642 2969,960 94,838 48,931 37,247 49,744 46,479 89,396 27,659 35,913 55,605 51,444 56,684 649,871 55,931 8,736 14,196 18,928 40,768 334,758 20,020 1/72,678 24,024 32,760 18,200 17,108 53,872 13,468 388 285,588 3,074 1,447 3,893 1,344 859 1,362 310 1,129 1,615 45,086 346,095 20,573,646 879,307 5,588,922 923,102 1512,096 666,638 1132,643 3186,073 745,167 475,973 965,39% 1105,629 3112,490 4,588,345 372,048 719,064 258,576 380,116 368,700 415,014 734,394 202,619 131,324 238,073 242,333 526,084 1,392 7,192 1,435 2,486 1,588 1,522 4,982 1,092 1,252 1,258 999 2,940 28,138 2863,379 12,915,772 2983,972 4458,505 3362,603 3140,211 9234,294 2190,062 1215,272 2320,634 2243,429 6412,017 53,340,350 CAPITAL ACCOUNTS Capital paid in Surplus O t h e r c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS C o n t i n g . l i a b . on a c c e p t ances purchased f o r foreign correspondents 387,720 774,808 27,425 19,177 38,332 1,919 110,480 220,905 6,075 22,824 45,638 1,739 36,321 72,530 2,203 17,298 34,566 2,165 20,197 53,735 40,306 107,334 1,725 4,377 12,951 25,862 1,103 8,798 17,580 64o 15,881 31,720 1,203 22,338 44,645 1,138 47,720 95,390 3,138 54,530,303 2922,807 13,253,232 3054,173 4569,559 3416,632 3202,439 9399,740 2229,978 1242,290 2369,638 2311,550 6558,265 92,794 5,104 2/25,978 6,125 8,352 4,640 4,361 13,734 3,434 2,227 3,619 4,826 10,394 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. n o t e s o u t s t a n d i n g 29,413,097 1699,714 C o l l a t . f o r F. R. n o t e s : Gold c e r t i f i c a t e a c c t . 10,650,000 530,000 — — 244,768 E l i g i b l e paper U. S. Govt, s e c u r i t i e s 19,530,000 1250,000 Total c o l l a t e r a l 30,424,768 1780,000 _1/ After deducting $262,060,000 participations 2/ After deducting $66,816,000 participations 6,953,709 1863,510 2643,853 2217,474 1677,661 5475,602 1302,416 623,200 1154,139 OV(,i61 2934,2j6 2,900,000 700,000 920,000 700,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 — — 25,625 — — — — —— —*• 103,900 — — 115,243 4,200,000 1200,000 i75o,coo 1550,000 1200,000 3700,000 935,000 450,000 870,000 625,000 1800,000 7,100,000 1925,625 2670,000 2250,000 1700,000 5600,000 1468,900 630,000 1285,243 915,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER