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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release November 10, 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 November 9 decreased a net of $78 million to $18,782 million; cash allowed as reserves decreased $192 million and member bank reserve balances at the Federal Reserve Banks increased $114 million. Estimated required reserves decreased $110 million; and estimated excess reserves increased $32 million to $584 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $448 million, compared with the revised figure of $363 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $493 million in U. S. Government securities bought outright and $209 million held under repurchase agreement, and a decrease of $24 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $28l million in gold stock, $113 million in Federal Reserve float, and $53 million in member bank borrowings, and an increase of $196 million in currency in circulation. Total Reserve Bank credit increased $549 million. As of Wednesday, November 9, holdings of U. S. Government securities bought outright were $530 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $82 million lower, and member bank borrowings were $236 million lower. Outright holdings of bills, certificates, notes, and bonds increased by $327 million, $123 million, $15 million, and $65 million, respectively. All securities purchased had maturities of less than 13 months. 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) Averages of daily figures Week ended Change from week ended Wednesday, Nov. 2, Nov. 11, Nov. 9, Nov. 9, I960 I960 I960 1959 (In millions of dollars) 27,439 576 +493 +209 + + 865 387 27,576 513 44 9 + 4 + 9 + + 18 9 42 10 136 22 985 29,211 18,124 5,389 52,724 - 53 -113 +5^9 -281 + 2 +270 772 14 38 560 -1,46l + 88 - 813 165 22 503 28,830 18,116 5,391 52,337 32,298 398 4l8 250 452 864 34,679 +196 - 7 - 24 - 4 - 4 - 1 +155 + 193 16 4o 63 56 264 134 32,502 400 391 258 387 863 34,801 679 737 58 4 + 62 17,537 737 18,274 18,088 186 Member bank reserves: With Federal Reserve Banks 18,045 Cash allowed as reserves (estimated) 737 Total reserves held 18,782 Required reserves (estimated) 18,198 Excess reserves (estimated) 584 +114 -192 - 78 -110 + 32 - + + + - - + * + + On November 9, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,570 million, a decrease of $58 million for the week and an increase of $1,l8l million from the comparable date a year ago. 5.4.1(a) STATEmMp OF CONDITION OF TH3B TVJEtyE FEliSi, RESERVE BANKS COMBINED (in ttiStiisMds of dollars) ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Change since Nov. 11, Nov. 2, i960 1959 Nov. 9; i960 16,824,643 994,045 17,818,588 - + - „ 231,002 11,055 219,947 -1,523,999 + 46,204 -1,477,795 121,169 29,722 + 235,986 - 322,067 F. R. notes of other Banks Other cash 312,281 366,483 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 186,812 42,109 9,669 + + 1,999 6,669 3,297,713 14,142,243 7,530,298 2,605,071 27,575,325 513,600 28,088,925 + + + + + + 326,800 123,250 15,000 64,800 529,850 82,100 447,750 + 696,563 +3,635,250 -3,480,000 + 121,300 + 973,113 + 338,100 +1,311,213 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 28,327,515 15 5,184,952 106,625 387,406 52,503,965 + 220,432 +1,015,384 - - + + 47,329 2,594 16,569 9,669 — - - - 652,250 34 21,401 781,221 - 320,742 + 7,775 + 61,296 - 758,817 - + + LIABILITIES Federal Reserve notes Deposits: Member tank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,892,822 + 215,718 + 152,888 17,536,526 390,533 257,998 386,912 18,571,969 4,682,005 49,687 51,196,483 846,357 17,381 4,945 + 1,725 866,958 150,281 + 2,762 798,759 - 513,641 - 100,972 - 62,060 - 529,980 -1,206,653 + 490,112 + 9,872 - 553,781 CAPITAL ACCOUNTS Capital~paid In -- - Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 404,774 774,808 127,900 52,503,965 + 295 + 17,243 781,221 + 20,225 - 93,602 - 131,659 - 758,817 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents - - - 38*3$ 215,82? + — - 2.3$ 7,015 + 152,423 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 9, 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 159,630 27,164 18 — — — 186,812 Acceptances 14,826 36,952 — -— -51,77# U. S. Government securities 5,918,690 1,683,100 13,244,831 5,792,447 1,178,574 271,283 28,088,925 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 9, i960 St. ClevePhilaRichmond Atlanta Chicago New York Boston Louis delphia. land . (In thousands of dollars) H.4,i(t>) Total ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis Kansas City San Dallas Francisco 16,824,643 832,312 3,947,982 1013,861 1500,218 1123,677 822,987 3041,042 703,017 343,907 685,910 650,420 2159,310 994,045 58,110 223,651 60,333 87,275 84,162 59,546 180,265 44,991 26,212 44,547 31,953 93,000 17,818,688 890,422 4,171,633 1074,194 1587,493 1207,839 882,533 3221,307 748,008 370,119 730,457 682,373 2252,310 312,281 366,483 36,569 27,093 65,451 62,328 22,860 18,591 11,363 32,906 15,926 20,001 50,679 29,960 17,411 57,998 7,929 16,409 15,982 9,930 15,812 12,704 13,715 14,392 38,584 64,171 186,812 Discounts and advances Acceptances: 42,109 Bought outright 9,669 Held under rep. agree. U. S. Govt, securities: Bought outright— 3,297,713 Bills 14,142,243 Certificates 7,530,298 Notes 2,605,071 Bonds ,27,575,325 Total 513,600 Held under rep. agree. 9,903 45,370 4,023 36,668 3,190 22,404 22,744 1,626 2,701 27,626 7,551 3,006 F.R. notes of other Banks Other cash 42,109 9,669 -- - - ' - - 822,555 188,815 283,330 208,729 180,817 564,429 133,283 76,523 l4l, 541 132,898 387,574 177,219 760,004 3,527,528 809,728 1215,059 895,133 775,433 2420,558 571,587 328,171 606,999 569,933 1662,110 404,678 1,878,297 431,155 646,981 476,630 412,894 1288,871 304,352 174,740 323,208 303,471 885,021 649,788 149,155 223,819 164,888 142,839 445,879 105,290 60,451 111,813 104,984 306,168 139,997 1581,89% 6,078,160 1570,853 2369,109 1745,330 1511,903 4719,737 1114,512 639,005 1103,561 1111,200 3240,073 513,600 -— — Total U. S. Govt, sees. 28,088,925 1481,898 7,391,768 1578,853 2369,189 1745,380 1511,983 4719,737 1114,512 639,885 1183,561 1111,286 3240,873 Total loans & securities 28,327,515 1491,801 7,488,916 1582,876 2405,857 1748,570 1534,387 4742,481 1116,138 642,586 1211,187 1118,837 3243,879 Due from foreign "banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 5,184,952 364,231 106,625 3,982 387,4o6 20,877 1/4 1 1 1 1 2 (2) (2) 1 1 2 875,039 349,901 420,351 432,726 429,671 862,194 243,774 171,787 268,491 235,184 531,603 5,111 13,701 11,621 6,678 4,921 6,204 10,983 21,427 8,716 3,816 9,465 16,922 15,754 45,561 15,467 8,917 24,410 22,003 65,457 22,014 33,708 96,316 52,503,965 2834,976 12,769,152 3074,253 4500,395 3455,677 2960,217 8988,277 2154,403 1224,242 2260,685 2093,957 6187,731 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. H.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDIT][ON OF EACH FEDERAL RESERVE BANK ON ItoVEMBER 9, I960 St. ClevePhilaRichmond Atlanta Chicago Net/ York Boston Louis delphia land (In thousands of dollars Minneapolis Kansas City San Dallas Francisco 27,892,822 1587,599 6,491,714 1806,462 2517,730 2151,708 1581,261 5248,726 1206,308 590,914 1138,284 819,84l 2752,275 17,536,526 816,705 4,657,709 811,207 1437,4o6 773,671 899,747 2641,496 634,521 434,345 802,420 935,884 2691,415 22,796 18,361 37,679 51,689 46,533 618 4o,l46 21,019 23,955 47,981 46,885 390,533 32,871 5,819 10,373 14,674 31,119 8,349 257,998 12,397 1/77,103 14,927 23,782 11,385 13,156 34,914 201 1,091 653 49,130 571 -328,017 1,341 204 3,331 987 525 361, 386^12 0 18,571,9^9 862,544 5,085,625 845,836 1499,571 840,076 960,423 2677,553 683,377 461,384 837,839 999,192 2818,549 4,682,005 317,751 808,651 343,414 358,340 399,833 346,304 868,737 218,907 140,797 227,199 199,685 452,387 1.791 1.278 1,864 1,871 5,546 2,199 15.612 2.471 4,412 2,648 2,444 7.547 49^682 2110,385 1194,373 2205,186 2020,591 6028,757 2770,093 12,401,602 2998,183 4380,053 3394,265 2890,432 8802,563 51,196,483 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AMD - CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 404,774 774,808 127.900 20,045 38,332 6,506 114,174 220,905 32,471 23,569 1 -M 37,395 72,530 10,417 18,602 21,634 56,724 13,528 25,862 ,628 9,286 17,580 3,003 17,180 31,720 6,599 23,340 44,645 5,381 49,297 95,390 14,287 52,503,965 2834,976 12,769,152 3074,253 4500,395 3455,677 2960,217 8988,277 2154,403 1224,242 2260,685 2093,957 6187,731 215,827 10,574 2/61,530 12,732 20,285 9,711 11,222 29,781 7,122 4,963 8,848 12,516 26,543 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,900,89111667,264 Collat. for F. R. notes: Gold certificate acct. 9,800,000 530,000 30,249 Eligible paper U. S. Govt, securities 20,170,000 1250,000 Total collateral 1700,000 l/ After deducting $180,895,000 participations 2/ After deducting $154,297,000 participations 6,714,825 1852,336 2639,840 2206,526 1651,058 5352,974 1246,874 665,570 1163,773 859,996 2879,855 2,300,000 700,000 920,000 700,000 500,000 1900,000 410,000 180,000 300,000 260,000 1100,000 -— 26,724 ---2,625 -900 4,500,000 1200,000 1830,000 1550,000 1200,000 3700,000 935,000 510,000 870,000 625,000 2000,000 0,000,QUO 1902,025 2750,000 2250,000 1700,000 5600,000 1345,900 690,000 1196,724 885,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER