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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H'4.1 For Immediate Release November 5, 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 daily figures of member "bank reserves for the week ended November 4 increased $143 million to $18,711 million. Estimated required reserves increased $54 million; and estimated excess reserves increased $89 million to $378 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $448 million, compared with $501 million the week before. The principal changes supplying average reserves were increases of e $180 million in U. S. Government securities bought outright and $121 million held under repurchase agreement, $99 million in gold stock, and $36 million in member bank borrowings, and a decrease of $59 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $252 million ^ ^serve float, and increases of $47 million in money in circulation and $62 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $90 million. As of bought outright securities held bank borrowings Wednesday, November 4, holdings of U. S. Government securities were $189 million higher than a week earlier, U. S. Government under repurchase agreement were $256 million higher, and member were $292 million lower. 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 Averages of daily figures Week ended Change from week ended Wednesday, November 4, October 28, [November 5, Nov. 4, 1959 1959 1 1958 1959 (In millions of dollars) 26,544 142 25 1 +180 +121 +1,164 + 63 + + 3 + 1 826 8 897 28,443 19,585 5,299 53,328 + 2 +192 Money 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) 31,920^ 4o8/«-f 471 293 397 1,127 34,617 + + + + Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,711 +1^3 +15 011 18,333 378 + 36 + 1 -252 + 90 + 99 47 12 59 4 62 ,9 49 + 89 26,553 255 11 1 25 + 424 + 6 + 101 +1,749 -l,094 + 77 + 733 638 + 498 8 657 28,135 19,585 5,301 53,021 + 273 l46 + 10 + 6 + 49 + 438 31,971 413 453 308 335 1,126 34,606 + + - 295 325 30 18,415 18,377 38 November 4, 1959, U. S. Government securities held in custody by r * Banks for foreign account were $4,390 million, a decrease of $210 million for the week and an increase of $598 million from the comparable date a year ago. 5 eral Reserve H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) November 4, 1959 Change since October 28. November 5, 1959 1958 ASS E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 2,483,771 26,552,712 255,600 26,808,312 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,478,222 15 5,292,093 98,383 308,221 53,282,048 + + 2,769 136 17,502 220,588 27,603,683 + 97,911 18,4l4,769 + 11,397 83,108 5,971 7,147 70,535 175,268 18,341,641 947,997 19,289,638 430,760 384,716 645,371 + 24,539 + 2,001 851,251 60,700 790,551 109,579 16,774 142,902 338 10,623 2,551,650 10,506,993 + 188,700 + 1,129,540 + - 99,998 166 99,632 46,617 2,348 291,177 - - 11,010,298 -11,000,298 +11,000,298 —W «• — + + + 188,700 255,600 444,300 + 1,129,540 + 159,800 + 1,289,340 + 155,124 + 1,421,281 - - - «• mm L I A B I L I T I E S Federal Reserve notes ~ ~ Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 453,130 307,772 334,680 19,510,351 4,634,982 38,286 51,787,302 C A P I T A L A C C O U N T S Capital"paid In™ Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 384,055 868,410 242,281 53,282,048 + + 40.9# + .1$ 62,644 + 265 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + + + + - + - + + + 1,283 203,927 + 202 «• — -- 16,459 220,588 + 469,782 + 5,196 + 85,759 + 1,317,820 + 519,984 + 133,385 + 259,580 + 8,395 + 2,795 + 404,155 + 253,450 + 15,685 + 1,193,274 + 26,553 + 59,215 + 38,778 + 1,317,820 2.6# 10,846 1,019 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 4, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances U. S. Government securities sSK. -a T "IT Over 5 years to 10 years 0ver 10 _ years T0tal __ 645,371 Acceptances __ __ 24, 539 klO rtt 1.099/772 26,' 608,' 312 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 4, 1959 St. PhilaCleveNew York Richmond Atlanta Chicago Boston Louis delphia land (In thousands of dollars) E.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 18,341,641 958,759 947,997 4,561,859 1141,865 1602,252 1074,286 843,561 3205,847 753,777 57,487 19,289,638 1016,246 207,073 60,309 84,026 83,005 55,808 173,864 44,664 4,768,932 1202,174 1686,278 1157,291 899,369 3379,711 798,441 Minneapolis Kansas City Dallas 368,692 665,755 706,326 2458,662 22,786 43,512 30,293 85,170 391,478 709,267 736,619 2543,832 San Francisco F.R. notes of other Banks Other cash 430,760 384,716 43,086 25,736 84,127 64,308 32,581 21,945 27,772 35,697 39,991 26,597 52,140 3^,705 31,709 66,344 9,033 20,617 33,459 10,564 17,756 13,150 19,402 15,362 39,704 49,691 Discounts and advances Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 645,371 13,874 141,856 50,853 60,188 19,300 109,017 139,012 16,770 11,870 54,569 18,650 9,412 145,511 220,917 163,529 134,482 599,172 909,674 673,373 553,760 627,873 953,250 705,628 580,287 141.639 215.040 159,180 130.905 1514,195 2298,881 1701,710 1399,434 441,569 1818,256 1905,354 429.821 4595,000 103,776 427,319 447,789 101.015 1079,899 24,539 24,539 2,551,650 138,337 10,506,993 569,637 11,010,298 596,923 2.483.771 134,658 26,552,712 1439,555 255.600 642,128 2,644,106 2,770,763 625.046 6,682,043 «• 255i 600 —— . 291,447 58,118 109,989 101,847 239,318 452,904 419,376 1200,098 250,782 474,599 439,465 1257,585 99,137 283,694 56,573 107,063 604,791 1144,555 1059,825 3032,824 —— —— —— —— Total U. S. Govt, sees. 26,808,312 1439,555 6,937.643 1514.195 2298,881 1701.710 1399,434 4595.000 1079,899 6o4,791 1144,555 1059,825 3032,824 Total loans & securities 27,478,222 1453,429 7,104,038 1565,048 2359,069 1721,010 1508,451 4734,012 1096,669 616,661 1199,124 1078,475 3042,236 Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 401,163 4,359 308,221 16,565 5,292,093 98,383 1 / 4 904,031 10,009 76.622 1 1 1 327,163 440,179 4,074 9,255 17,254 26.960 405,555 6,741 19,596 2 1 432,480 868,888 261,551 9,702 l4,34l 7,112 17,299 53.124 12.388 2 / 156,360 5,143 6,981 1 270,070 4,650 14,043 1 1 565,074 259,579 12,422 10,575 35.066 12,3,23.. 53,282,048 2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,06l 2132,336 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 6288,026 H.4.1(c) L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE PhilaCleveTotal Boston New York Richmond delphia land (In thousands 27,603,683 1570,870 6,443,626 1735,855 2505,835 2105,595 18,414,769 899,974 453,130 25,901 307,772 16,335 334,680 352 19,510,351 942,562 4,634,982 361,757 B A M ON NOVEMBER 4, 1959 St. Atlanta Chicago Louis of dollars) Minneapolis Kansas City Dallas San Francisco 1526,792 5238,677 1218,802 602,944 1101,965 804,281 2748,441 4,880,080 61,533 1/93,932 272,405 941,529 1497,720 776,047 937,931 2864,489 36,124 39,896 47,489 28,897 48,345 19,602 26,730 14,850 13,959 43,956 3,656 924 3,582 1,258 805 5,307,950 1000,911 1565,270 841,968 992,045 2957,595 689,190 412,591 800,171 979,750 2735,297 25,130 10,989 24,487 7,128 278 38,016 11,583 1,071 32,765 15,444 1,143 44,547 33,264 48,718 488 72$,797 444,484 850,841 1029,102 2861,826 842,428 333,486 376,254 349,220 370,506 722,644 202,235 135,543 213,596 221,540 505,773 38,286 1,791 11,014 1,994 3,710 2,022 1,911 6,296 1,361 1,091 1,546 1,445 4,105 51,787,302 2876,980 12,605,018 3072,246 4451,069 3298,805 2881,254 8925,212 2148,195 1184,062 2167,948 2056,368 6120,145 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 384,055 868,410 242,281 18,958 50,116 14,531 110,338 22,787 57,813 59,607 15,600 238,902 36,076 76,643 21,423 17,207 44,846 15,924 52,308 19,933 %452 12,805 33,746 11,066 8,742 20,785 7,057 15,687 32,935 11,491 22,086 47,128 95,761 24,992 53,282,048 2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,061 2132,336 6288,026 62,644 3,449 2/17,500 4,138 5,643 3,135 2,947 9,280 2,320 1,505 2,445 3,260 7,022 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 28,555,044 1651,260 6,684,462 1780,158 2569,769 2167,610 1589,094 5353,576 1265,773 616,798 1129,317 853,428 2893,799 10,510,000 530,000 2,700,000 640,000 920,000 700,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 121,099 -~ -50,345 -—--16,485 - - 54,269 —-19,160,000 1200,000 4,100,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800.000 29,791,099 1730,000 6,800,000 1890,345 2670,000 2250,000 1700,000 5500,000 1381,485 1/ After deducting $213,840,000 participations of other Federal Reserve Banks 2/ After deducting $45,144,000 participations of other Federal Reserve Banks 650,000 1204,269 915,000 3100,000
@FedFRASER