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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I For Immediate Release November 27, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of d a i l y f i g u r e s of member bank r e s e r v e s f o r t h e week ended November 25 d e c r e a s e d $84 m i l l i o n t o $18,563 m i l l i o n . E s t i m a t e d r e q u i r e d r e s e r v e s decreased $53 m i l l i o n ; and e s t i m a t e d excess r e s e r v e s decreased $31 m i l l i o n t o $399 m i l l i o n . Member bank borrowings a t t h e F e d e r a l Reserve Banks exceeded excess r e s e r v e s by $423 m i l l i o n , compared with $426 m i l l i o n t h e week b e f o r e . The p r i n c i p a l changes r e d u c i n g average r e s e r v e s were d e c r e a s e s of $79 m i l l i o n i n U. S. Government s e c u r i t i e s h e l d under r e p u r c h a s e agreement and $34 m i l l i o n i n member bank borrowings, and i n c r e a s e s of $93 m i l l i o n i n " o t h e r " F . R. accounts ( n e t ) , $37 m i l l i o n i n T r e a s u r y d e p o s i t s with F e d e r a l Reserve Banks, and $34 m i l l i o n i n money i n c i r c u l a t i o n . The p r i n c i p a l o f f s e t t i n g changes were i n c r e a s e s of $l46 m i l l i o n i n F e d e r a l Reserve f l o a t and $59 m i l l i o n i n U. S. Government s e c u r i t i e s bought o u t r i g h t . T o t a l Reserve Bank c r e d i t i n c r e a s e d $99 m i l l i o n . As of bought o u t r i g h t securities held bank borrowings Wednesday, November 25, h o l d i n g s of U. S. Government s e c u r i t i e s were $120 m i l l i o n h i g h e r t h a n a week e a r l i e r , U. S. Government under r e p u r c h a s e agreement were $29 m i l l i o n h i g h e r , and member were $40 m i l l i o n l o w e r . Member bank r e s e r v e s , 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 o u t r i g h t — S y s t e m account Held under r e p u r c h a s e agreement Acceptances-Bought o u t r i g h t Held under r e p u r c h a s e agreement Loans, d i s c o u n t s , and advances— Member bank borrowings Other Float T o t a l Reserve Bank c r e d i t Gold stock Treasury currency o u t s t a n d i n g Averages of d a i l y f i g u r e s Week ended Change from week ended Nov. 26, Nov. 18, Nov. 25, 1958 1959 1959 ( I n m i l l i o n s of d o l l a r s ) 26,652 30 32 3 + 59 - 79 + + 6 3 Wednesday, Nov. 25, 1959 +1,074 126 26,694 28 4 3 31 4 - 822 7 l , 311 28,857 19,582 5,304 53,743 - 34 - 1 +146 + 99 - 1 + 1 + 99 + 394 5 + 112 +1; 456 -1,034 + 79 + 503 636 5 1, 022 28,420 19,582 5,305 53,306 Money i n c i r c u l a t i o n Treasury cash h o l d i n g s Treasury d e p o s i t s with F . R. Banks Foreign d e p o s i t s with F . R. Banks Other d e p o s i t s with F . R. Banks Other F. R. accounts ( n e t ) 32,269 415 515 315 369 1,297 35,179 + 34 + 1 + 37 + 11 + 7 + 93 +183 + 444 271 60 72 32 234 570 32,421 409 435 336 327 1,238 35,167 Member bank r e s e r v e s - Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) 18,563 18,164 399 - 84 - 53 - 31 68 61 7 18,140 18,121 19 + - + + + + + - On November 25, 1959, U. S. Government s e c u r i t i e s h e l d i n custody by t h e F e d e r a l Reserve Banks f o r f o r e i g n account were $4, 436 m i l l i o n , an i n c r e a s e of $18 m i l l i o n f o r t h e week and an i n c r e a s e of $607 m i l l i o n from t h e comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE RANKS COMBINED ( I n thousands of d o l l a r s ) Change s i n c e Nov. 26, Nov. 18, 1959 A S S E T S Gold c e r t i f i c a t e a c c o u n t Redemption f u n d f o r F . R. n o t e s T o t a l 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 o t h e r Banks Other cash Discounts and advances Industrial loans Acceptances: Bought o u t r i g h t Held under r e p u r c h a s e 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 T o t a l bought o u t r i g h t Held under r e p u r c h a s e agreement T o t a l U. S . Government s e c u r i t i e s 18,324,641 967,704 19,292,345 324,749 358,026 640,558 vo VJl CD Nov. 25, 1959 19,001 14,969 4,032 47,853 6,602 42,4o8 + - - — 30,512 4,311 + + 4,969 4,311 2,692,530 + 119,500 - - 11,010,298 2,483,771 26,693,592 28,750 26,722,342 T o t a l 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 p r e m i s e s Other a s s e t s TOTAL ASSETS + - + + - - - 10,506,993 . - + 784,253 57,225 727,028 36,670 27,053 407,976 337 3,817 4,311 4 1,031,380 -11,000,298 +11,000,298 - - - - + + + 119,500 28,750 148, 250 + 1,031,300 + 927,330 27,397,723 15 5,578,863 99,345 186,059 53,237,125 + H5,122 + 519,511 294,924 - + + + - 27,919,099 + -1,234,738 237 19,079 -1,159,261 18,139,632 435,422 336,220 326,695 19,237,969 4,556,518 42,132 51,755,718 C A P I T A L ACCOUNTS Capital paid in Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 384,718 868,410 228,279 53,237,125 + 40.9# + 70,417 + - + - - + 157,274 292,458 138,988 14,686 28,517 445,277 824,403 2,027 -1,110,379 133 a* •» - 49,015 1,159,261 .2<fo + + - + - + + - 6,000 72,275 84,855 414,931 789,679 4o, 640 121,004 9,561 718,876 252,426 17,054 34,465 + + + + 26,595 59,215 33,510 84,855 - 1.3# - 4,754 1,015 1,537 -- - - 104,050 — — — 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 . T r e a s u r e r — g e n e r a l account 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 a c c r u e d d i v i d e n d s TOTAL LIABILITIES R a t i o 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. n o t e l i a b i l i t i e s combined Contingent l i a b i l i t y on a c c e p t a n c e s purchased for foreign correspondents I n d u s t r i a l l o a n commitments ~ MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 25, 1959 (Acceptances and s e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d a s m a t u r i n g w i t h i n 15 days i n accordance w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) Within 15 days 16 days t o 90 days 9 1 days t o 1 y e a r Over 1 y e a r t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s 10 y e a r s DigitizedOver for FRASER http://fraser.stlouisfed.org/ Total Federal Reserve Bank of St. Louis D i s c o u n t s and advances 624,036 15,842 680 640,558 Acceptances 11,219 23,604 3%T523 U. S . Government securities 450,410 7,325,073 10,952,790 6,523,912 410,385 1,059,772 26,722,342 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OM NOVEMBER 25, 1 9 5 9 St. ClevePhilaRichmond A t l a n t a C h i c a g o New York Boston L ouis delphia . land o f d o l l a r s ) (In thousands E.4.1(b) Total A S S E T S Gold c e r t i f i c a t e account 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 reserves 649,505 178,185 44,476 23,610 43,360 30,178 84,798 924,983 4 , 8 0 4 , 5 7 7 1109,501 1 7 0 6 , 7 0 3 1151,884 9 3 7 , 0 4 4 3 4 6 7 , 5 9 2 8 o 4 , o 8 8 359,973 692,865 732,679 2600,456 60,117 4,589,250 1047,800 215,327 61,701 84,425 81,252 60,275 57,353 58,215 17,783 24,251 15,882 33,407 33,655 21,748 50,392 28,512 24,912 64,259 10,751 21,402 23,563 10,541 17,735 13,659 24,311 16,534 28,806 19,926 28,367 58,795 23,740 40,510 61,425 134,665 72,631 15,910 43,376 113,314 12,465 35,360 - - 30,512 4,311 - - 19,606 F . R . n o t e s of o t h e r Banks Other cash 324,749 D i s c o u n t s and advances Acceptances: Bought o u t r i g h t Held under r e p . a g r e e . U. S . G o v t , s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total Held under r e p . a g r e e . 640,558 2,692,530 145,975 1 0 , 5 0 6 , 9 9 3 569,637 11,010,298 596,923 2,483,771 134,658 26,693,592 1447,193 28,750 677,581 153,545 233,114 172,558 141,907 465,949 109,505 2 , 6 4 4 , 1 0 6 5 9 9 , 1 7 2 9 0 9 , 6 7 4 6 7 3 , 3 7 3 553,760 1818,256 4 2 7 , 3 1 9 2 , 7 7 0 , 7 6 3 6 2 7 , 8 7 3 9 5 3 , 2 5 0 705,628 5 8 0 , 2 8 7 1 9 0 5 , 3 5 4 4 4 7 , 7 8 9 625,046 141,639 215,040 159,180 130,905 429,821 101,015 6,717,496 1522,229 2311,078 1710,739 1406,859 4619,380 1085,62b 28,750 T o t a l U. S . G o v t , s e e s . 26,722,342 1447,193 6,746,246 Total loans & securities 27,397,723 1475,560 6,839,864 1545,969 2351,588 1772,164 1541,524 4692,011 1101,538 Due f r o m f o r e i g n h a n k s Cash i t e m s i n p r o c e s s of c o l l e c t i o n Bank p r e m i s e s Other a s s e t s TOTAL ASSETS 116,061 452,904 474,599 107,470 307,538 419,376 1200,098 250,782 439,465 1257,585 99,137 283,694 5 6 , 5 7 3 107,063 608,000 1150,627 1065,448 3048,915 61,327 239,318 1522,229 2311,078 1 7 1 0 , 7 3 9 l 4 c 6 , 8 5 9 4619,380 1085,628 608,000 1150,627 1065,448 3 0 4 8 , 9 1 5 1/4 1 1 1 1 2 1 5,578,863 99,345 186,059 414,823 4,324 10,094 1,064,740 10,010 45,844 352,278 4,052 10,236 458,264 9,276 16,381 422,797 6,703 11,906 446,794 888,763 15,026 245,469 7,112 7,378 9,677 10,888 31,346 651,376 1263,941 1077,913 3084,275 2/ 149,201 5,113 4,247 1 1 1 281,919 4,650 285,466 11,033 7,655 568,349 12,369 21,277 8,807 3064,071 4591,502 3420,858 3024,832 9183,911 2197,739 1204,014 2283,577 2155,592 6361,105 1 / A f t e r deducting $11,000 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 / Less t h a n $500. - - - - 1 2869,317 12,880,607 45,572 —- - - - - 15 53,237,125 702,501 2515,658 San Francisco 336,363 967,704 30,512 4,311 Dallas 759,612 864,866 358,026 Kansas City 3289,407 18,324,641 19,292,345 1622,278 1070,632 876,769 Minneapolis Total Boston New York Philaaelr>hia 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.8.Treas.-gen.acct. . Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items O t h e r l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES Cleve- 1 l a n d [Richmond A t l a n t a Chicago ( I n thousands of d o l l a r s ) St. Louis Minneapolis Kansas City Da-Has San Francisco 27,919,099 1594,745 6,543,622 1776,816 2530,281 2114,658 1560,417 5283,213 1232,409 6o4,l68 1106,794 807,806 2764,170 18,139,632 768,724 4,711,137 854,961 1494,161 811,887 966,980 2806,913 675,316 412,620 854,526 980,643 2801,764 67,330 22,479 28,359 42,653 22,900 68,216 25,979 18,444 31,027 28,279 47,097 435,422 32,659 18,150 1/98,620 21,780 29,700 16,500 15,510 48,840 12,210 7,920 12,870 17,160 36,960 336,220 2,104 "266,819 2,961 695 3,058 912 923 779 388 738 691 46,627 326,695 19,237,969 821,637 5,143,906 902,181 1552,915 874,098 1006,302 2924,892 714,284 439,372 899,161 1026,773 2932,448 4,556,518 368,039 778,932 285,779 371,314 352,599 383,910 748,806 192,338 122,982 216,133 243,232 492,454 1,981 10,813 2,101 3,980 2,437 2,147 6,644 1,608 1,269 1,902 1,938 5,312 42,132 2786,402 12,477,273 2966,877 4458,490 3343,792 2952,776 8963,555 2140,639 1167,791 2223,990 2079,749 6194,384 51,755,718 CAPITAL ACCOUNTS Capital paid in Surplus Other 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 f o r e i g n correspondents 384,718 868,410 228,279 18,958 50,116 13,841 110,254 238,902 54,178 22,799 59,607 14,788 36,153 76,643 20,216 17,216 44,846 15,004 19,934 52,403 39,474 132,159 12,648 35,794 12,840 33,746 10,514 8,751 20,785 6,687 15,775 32,935 10,877 22,172 43,436 10,235 47,463 95,761 23,497 53,237,125 2869,317 12,880,607 3064,071 4591,502 3420,858 3024,832 9183,911 2197,739 1204,014 2283,577 2155,592 6361,105 70,417 3,872 2/19,729 4,646 6,336 3,520 3,309 10,419 2,605 1,690 2,745 3,661 7,885 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s o u t s t a n d i n g 28,842,775 1666,437 6,807,405 1815,794 2577,398 2175,764 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 . 10,490,000 530,000 2,700,000 64o,coo 920,000 700,000 23,410 — — E l i g i b l e paper 152,129 U. S . Govt, s e c u r i t i e s 19,260,000 1200,000 4,200,000 1200,000 1750,000 1550,000 Total collateral 29,902,129 1730,000 6,900,000 1863,410 2670,000 2250,000 1 / A f t e r d e d u c t i n g $237,600,000 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 d e d u c t i n g $ 5 0 , 6 8 8 , 0 0 0 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. ir 1626,479 5392,040 1282,046 615,132 1137,587 858,431 2888,262 500,000 2000,000 430,000 180,000 — 15,725 — i2co,ooo 3500,000 935,000 450,000 1700,000 5500,000 1380,725 630,000 300,000 290,000 1300,000 112,994 850,000 625,000 1800,000 1262,994 915,000 3100,000
@FedFRASER