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h.4.1 BOAfib bp GOVERNORS OF THE FEUDAL RESERVE SYSTEM For immediate Release November 17, 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 16 decreased a net of $76 million to $18,722 million; cash allowed as reserves increased $185 million and member bank reserve balances at the Federal Reserve Banks decreased $261 million. Estimated required reserves decreased $82 million; and estimated excess reserves increased $6 million to $613 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $4^5 million, compared with the revised figure of $471 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $59 million in U. S. Government securities held under repurchase agreement and $56 million in gold stock, and increases of $229 million in currency in circulation, $101 million in Treasury deposits with Federal Reserve Banks, and $288 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $149 million in U. S. Government securities bought outright, $323 million in Federal Reserve float, and $32 million in member bank borrowings. Total Reserve Bank credit increased $447 million. As of Wednesday, November 16, holdings of U. S. Government securities bought outright were $30 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $208 million lower, and member bank borrowings were $11 million lower. Holdings of certificates decreased $5,000 million and notes increased a like amount, reflecting an exchange of certificates maturing November 15 for new 3 l/4 per cent notes. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptance s-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 Nov. 16, Nov. 18, Nov. 16, Nov. 9, I960 I960 1959 I960 (][n millions of dollars) 27,588 517 44 10 168 22 1,308 29,658 18,068 5,391 53,H7 +149 - 59 + + 995 408 27,605 306 + + 18 + 45 12 688 154 22 1,2 88 29,432 18,006 5,391 52,830 292 32,455 4l4 635 211 429 1,075 35,218 863 17,612 938 18,550 1 + 32 «*» m +323 +447 - 56 + 2 +393 32,527 402 519 230 740 914 35,333 +229 + 4 17,784 938 18,722 18,109 613 -261 +185 +101 - 20 +288 + 50 +654 - 76 - 82 + 6 10 + 14 + 143 + 900 -1;,515 + 88 527 + - + - + - + + + - + 12 4l 74 378 290 337 938 75 81 156 18,241 309 On November 16, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,467 million, a decrease of $103 million for the week and an increase of $1,049 million from the comparable date a year ago. H.4.1(a) STATEMENT, OP CONDITION OF THE TWELVE FEESMl RESERVE BANKS COMBINED (In thousands of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Change since Nov. 18, N o w 9, i960 1959 Nov. 16, I960 16,699,644 1,010,045 17,709,689 + F. R. notes of other Banks Other cash 371,098 371,711 + + 58,817 5,228 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 176,055 - 10,757 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS • - 124,999 16,000 108,999 45,107 11,660 + + 2,998 1,991 3,327,713 9,142,243 12,530,298 2,605,071 27,605,325 + 30,000 306,000 27,911,325 28,144,147 15 7,4o4,488 107,192 122,121 54,230,461 -5, 000,000 +5,000,000 -1,643,998 + 57,310 -1758^689 + 1,504 7,083 506,911 + + 19,564 11,660 + 754,683 -1,364,750 *1,520,000 + 30,000 207,600 177,600 +1,031,233 + 306,000 +1,337,233 121,300 183,368 + 861,546 + + + - - 590,887 7,610 44,859 165,925 — •» + - M» «• -- +2,219,536 567 265,285 +1,726,496 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 27,924,064 + 31,242 + 162,239 17,611,715 634,797 210,789 428,532 18,885,833 6,116,370 50,302 52,976,569 + + 75,189 244,264 - + 820,375 60,387 110,745 73,320 797,413 735,449 10,197 110,472 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 4o6,204 774,808 72,880 54,230,461 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents - + + 41,620 313,864 - + - +1,434,365 + 615 +1,780,086 + + + + + 1,430 e. «• - 55,020 +1,726,496 • - .5i 37.8$ 220,698 47,209 + 4,871 21,619 93,602 204,4l4 165,925 2.9# + 151,818 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 16, 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 150,345 25,694 16 -— -176,055 Acceptances 17,679 39,088 — -— -56,767 U. S. Government securities 771,661 1,674,029 13,329,131 10,686,647 1,178,574 271,283 27,911,325 STATEMENT OF CONDIT][ON OF EACH FEDERAL RESERVE BANK OF II0VEMBER 16, i960 St. ClevePhilaRichmond Atlanta Chicago Boston | New York Louis land delphia (In thousands of dollars) H. 4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis Kansas City 16,699,644 768,104 4,073,302 922,090 1497,801 1052,395 799,712 2992,537 696,785 180,265 44,991 26,212 44,547 4,306,953 982,423 1586,076 1136,557 859,258 3172,802 741,776 386,609 756,569 84,162 59,546 31,953 93,000 63,110 17,709,689 831,214 F.R. notes of other Banks Other cash 371,098 371,711 40,392 26,246 89,603 28,410 19,295 11,435 30,313 19,458 19,527 51,136 28,146 25,256 70,698 60,351 11,808 17,858 14,490 9,391 18,332 12,341 15,753 14,338 45,025 63,207 Discounts and advances Acceptances: Bought outright Held under rep. agree. U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 176,055 20,723 34,940 6,148 12,568 19,115 19,519 29,600 1,226 5,651 16,483 7,376 2,706 -- - — 830,038 3,327,713 178,831 9,142,243 491,304 2,280,368 12,530,298 673,378 3,125,457 649.788 2,605,071 139,997 27,605,325 1483,510 6,885,651 306,000 306,000 Total U. S. Govt, sees. 27,911,325 1483,510 7,191,651 1580,570 2371,767 1747,279 1513,628 4724,872 1115,724 640,582 1184,848 1112,495 3244,399 Total loans & securities 28,144,147 1504,233 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 45,107 11,660 45,107 11,660 -- 1 190,532 523,448 717,435 149,155 1580,570 —— 7,283,358 1586,718 1 7,404,488 107,192 122,121 517,766 1,366,089 3,982 9,465 6,512 30,248 464,554 54,230,461 2930,346 13,156,418 3092,035 3,816 6.818 285,908 210,628 182,462 569,564 785,474 578,658 501,278 1564,768 1076,566 793,105 687,049 2144,661 223,819 164,888 142,839 445,879 2371,767 1747,279 1513,628 4724,872 ——— —— —— 2384,335 1766,394 1533,147 1 1 1 630,943 607,288 8,702 6,204 10,551 7,743 4662,356 3563,172 1/ After deducting $11,000 participations of other Federal Reserve BanksT 2/ Less than $500. 134,495 77,220 142,828 212,146 392,394 369,502 506,437 290,765 537,813 105,290 60,451 111,813 1115,724 640,582 1184,848 —— 4754,472 1116,950 2 (2) 7U/509 2237,943 -- " * - -- 1/4 15 88*275 360,397 712,022 679,556 2144,943 1,010,045 233,651 60,333 San Francisco Dallas 134,107 391,100 368,433 1074,470 504,971 1472,661 104,984 306,168 1112,495 3244,399 646,233 1201,331 1119,871 (2) 1 1 3247,105 2 564,546 1247,045 336,203 202,542 415,430 334,668 717,414 6,680 4,984 5,111 13,702 11,620 11,293 21,633 2,777 5,489 5,268 14,539 20,001 7,436 4,739 3054,963 9301,562 2236,014 1267,026 2414,604 2215,110 6336,855 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEfmTm 1 Total Boston Rl=h-md Atlanta |chi C agp HevTork Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES ^ ^ Dallas (In thousands of dollars) 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 igAn 27,924,064 1601,791 6,474,316 1812,148 2532,003 2154,823 1592,313 5255,797 1209,337 590,533 1137,628 822,527 2740,848 17,611,715 765,893 4,739,201 782,479 1401,786 772,403 875,039 2721,478 653,167 430,500 860,915 970,534 2638,320 634,797 18,578 108,310 21,183 42,326 61,494 24,916 92,092 57,402 38,674 45,039 44,146 80,637 210,789 10,192 1/62,069 12,272 19,552 9,360 10,816 28,704 6,864 4,784 8,528 12,064 25,584 428,532 798 358,647 2,080 917 3,135 1,586 1,352 685 234 2,533 545 56,020 18,885,833 795,461 5,268,227 818,014 1464,581 846,392 912,357 2843,626 710,118 474,192 917,015 1027,209 2000,561 6,116,370 468,753 1,045,411 386,422 546,052 501,065 481,001 1016,809 264,808 172,265 304,890 291,954 636,940 50,302 2,258 15,818 2,544 4,171 2,687 2,354 7,727 1,764 1,381 1,879 2,001 5,718 52,976,569 2868,263 12,803,772 3019,128 4546,807 3504,967 2988,025 9123,959 2194,027 1238,371 2361,412 2143,771 6184,067 CAPITAL ACCOUNTS Capital paid in .Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS jGea&tng. liab. on acceptasees purchased for foreign, correspondents 406,204 774,808 72,880 20,048 38,332 3,703 114,205 220,905 17,536 23,609 45,638 3,660 37,457 72,530 5,562 18,616 34,566 5,023 21,655 57,465 40,306 107,334 4,977 12,804 13,544 25,862 2,581 9,300 17,580 1,775 17,189 31,720 4,283 23,361 44,645 3,333 49,755 95,390 7,643 54.2lo.46i 2910.146 11.156.418 3092,035 4662,356 3563,172 3054,963 9301,562 2236,014 1267,026 24l4,6o4 2215,110 6336,855 220,698 10,814 2/62,898 13,021 20,746 9,931 11,476 30,457 7,283 5,076 9,049 12,801 27,146 FEDERAL RESERVE AGENTS * ACCOUNTS F• R• notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt. securities Total collateral 29,095,665 1681,895 6,781,263 1882,526 2664,395 2228,340 1661,346 5372,382 1250,127 665,531 1165,547 864,305 2878,008 9,800,000 530,000 2,300,000 700,000 920,000 700,000 500,000 1900,000 410,000 180,000 300,000 260,000 1100,000 20,931 4,850 -— -— 500 — 15,581 20,300,000 1250,000 4,600,000 1200,000 1830,000 1550,000 1200,000 3700,000 935,000 510,000 900,000 625,000 2000,COO 30,120,931 1780,000 6,900,000 1904,850 2750,000 2250,000 1700,000 5600,000 1345,500 690,000 1215,581 885,000 3100,000 ±f Alter deducting .£14ti, f20,000 participations of other Federal Reserve Banks. 2/ After deducting $157,800,000 participations of other Federal Reserve Banks.
@FedFRASER