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H.U.I BOARD OF GOVERNORS OF TfiE FEDERAL RESERVE SYSTEM For Immediate Release October 13, i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The 1 -average of d a i l y f i g u r e s of t o t a l member bank r e s e r v e s h e l d d u r i n g t h e week ended October 12 decreased $139 m i l l i o n t o $18,620 m i l l i o n ; cash allowed a s r e s e r v e s d e c r e a s e d $57 m i l l i o n and member bank r e s e r v e b a l a n c e s a t t h e F e d e r a l Reserve Banks d e c r e a s e d $82 m i l l i o n . Estimated r e q u i r e d r e s e r v e s decreased $216 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 i n c r e a s e d $77 m i l l i o n t o $687 m i l l i o n . Excess r e s e r v e s exceeded member bank borrowings a t t h e F e d e r a l Reserve Banks by $539 m i l l i o n , compared with t h e r e v i s e d f i g u r e of $4l0 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 b a l a n c e s with F e d e r a l Reserve Banks t-ere an i n c r e a s e of $230 m i l l i o n i n currency i n c i r c u l a t i o n , and d e c r e a s e s of $52 m i l l i o n i n member bank borrowings and $56 m i l l i o n i n gold s t o c k . The p r i n c i p a l o f f s e t t i n g change was an i n c r e a s e of $240 m i l l i o n i n Uv 0. Covornmcat s e c u r i t i e s . T o t a l .Reserve Bank c r e d i t i n c r e a s e d $183 m i l l i o n , . •1 - f j U f U f e d O y^tvcttu."' 1 • X'l<- Ci i ti As of 'Wednesday, October 12, h o l d i n g s of U. S. Government s e c u r i t i e s bought o u t r i g h t were $348 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 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 were $128 m i l l i o n lower, and member bank borrowings were $6 m i l l i o n h i g h e r . 0 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 a d v a n c e s - Member bank borrowings Other Float T o t a l Reserve Bank c r e d i t Gold stock Treasury c u r r e n c y o u t s t a n d i n g Currency in 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. a c c o u n t s ( n e t ) Member bank r e s e r v e s : With F e d e r a l Reserve Banks Cash allowed a s r e s e r v e s ( e s t i m a t e d ) Total reserves held 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 ) Averages of d a i l y f i g u r e s Week ended Change from week ended Oct. 14, Oct. 5, Oct. 12, I960 1959 I960 ( I n m i l l i o n s of d o l l a r s ) Wednesday Oct. 12, I960 +300 - 60 +573 + 58 27,248 22 + - 2 1 + 16 + 4 37 3 148 20 1,090 28,565 18,615 5,380 52,563 - 52 + 1 - 6 +183 - 56 + 3 +130 -900 + 17 +134 - 99 -874 + 90 -B83 123 20 1,239 28,693 18,6l4 5,381 52,668 32,276 408 4?4 202 430 932 34,723 +230 + 2 + 7 - 11 - 13 - 4 +212 +180 + 21 -» -124 - 34 -265 -221 32,334 4ll 454 190 750 909 35, o4S 17,840 780 18,620 17,933 687 - 82 - 57 -139 -216 + 77 -66l +780 +119 - 79 +198 17,639 780 18,419 17,898 521 27,136 132 37 6 On October 12, i960, 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 $5,578 m i l l i o n , an i n c r e a s e of $51 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 $1,09*1- m i l l i o n from t h e comparable d a t e a y e a r ago. 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 ) Change s i n c e Oct. 14, Oct. 5, Oct. 12, i960 i960 ASSETS 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 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 17,339,643 980,381 18,320,024 - + 1959 26,998 - 7,658 19;340 F . R. n o t e s of o t h e r Banks Other cash 357,117 378,326 - 73,815 16,499 Discounts and advances 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 143,198 + 6,381 37,110 2,764 + 3,246,700 14,006,993 7,510,298 2,483,771 27,247,762 + 27,270,262 27,453,334 15 5,762,302 22,500 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 premises Other a s s e t s TOTAL ASSETS 2,001 3,075 - 347,753 - - - + - 875,996 + 38,816 16,800 313,103 + + 17,073 2,764 + 684,450 +3,500,000 -3, 500,000 ~— —«• + 905,498 29,502 «*— + 347,753 127,700 220,053 + + 684,450 12,600 671,850 + 225,360 + 378,584 - mm mm 310,793 52,688,477 + + + + 287,091 250 17,726 420,773 + + - 402,506 8,872 55,512 857,550 27,805,436 + 107,311 + 143,277 - 177,870 - 310,509 17,056 187,007 106,566 - z 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 hank 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 accrued d i v i d e n d s TOTAL LIABILITIES 17,639,343 454,003 189,931 749,893 19,033,170 4,523,034 43,681 51,405,321 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 403,450 774,808 104,898 52,688,477 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 f o r foreign correspondents 39.1# + - + + + + + 78,296 4,312 362,570 258,684 61,217 + 352 + 8,070 - m> - - 201,688 - + 1,279 428, 491 + + + - 348,589 131,871 647,845 4,812 631,627 - 19,878 93,602 152,199 857,550 .4% - 1.9# 4i6 + 137,315 — 420,773 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 12, i 9 6 0 (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 as 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 a g r e e m e n t s . ) * Within 15 days 16 days t o 90 days 91 days t o 1 y e a r 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 121,054 22,016 128 143,198 Acceptances 12,027 27,847 39,874 U. S . Government securities 660,840 6,482,747 12,990,171 5,686,647 1,178,574 271,283 27,270,262 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 12, i960 ClevePhilaSt. New York Boston Richmond A t l a n t a Chicago delphia, Louis land ( I n thousands of d o l l a r s ) 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 T o t a l gold c e r t i f i c a t e reserves F . R . n o t e s of o t h e r Banks Other cash Discounts and advances Acceptances: Bought o u t r i g h t Held under r e p . a g r e e . , U . S . Govt. 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 . 17,339,643 776,884 4,543,230 980,381 58,836 211,648 18,320,024 835,720 357,117 378,326 45,988 25,553 77,284 72,909 29,292 18,594 9,684 32,420 17,341 19,504 143,198 20,680 11,600 3,410 17,180 2,850 - - 37,110 2,764 37,110 2,764 3,246,700 174,478 14,006,993 752,736 7,510,298 403,603 2,483,771 133,478 27,247,762 1464,295 22,500 Minneapolis Kansas City Dallas 697,002 2185,584 San Francisc 951,654 1419,580 1069,674 946,857 2940,205 713,790 328,255 766,928 87,487 60,603 176,617 43,357 26,410 44,828 4,754,878 1009,183 1507,067 1156,925 1007,460 3116,822 757,147 354,665 811,756 51,963 31,741 18,470 58,781 11,518 18,748 19,390 8,645 17,590 12,312 15,119 l4,653 43,478 64,466 24,015 40,071 1,050 510 6,054 11,818 3,96c 57,529 - - - — - - 809,831 3-8s,893 278,947 3,493,792 1,873,309 619,532 6, 796,464 22^ 500 87,251 - - •» — —— •» 131,223 2397,409 566,121 1285,447 303,543 425,117 100,386 4663, 672 1101,273 —— 93,644 729,173 2279,228 " 205,500 178,019 555,699 801,984 1203,439 886,573 768,017 430,010 645,262 475,364 411,798 142,211 213,3.98 157,210 136,3 88 1560,098 2341,046 1724,647 1494,022 32,171 •» 130,842 381,578 564,482 1646,211) 302,665 882,67c 106,606 100,096 291,913 632,254 1169,501 1098,055 3202,375 75,339 325,032 174,277 57,636 139,351 601,194 322,350 T o t a l U. S . Govt, s e e s . 27,270,262 1464,295 6,818,964 1560,098 2341,046 1724,647 1494,022 4663,672 1101,273 632,284 1169,501 1098,085 3202,375 Total loans & s e c u r i t i e s 27,453,334 1484,975 Due from f o r e i g n "banks 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 15 1 5,762,302 344,081 4,017 16,891 106,566 310,793 6,870,438 1563,508 2358,226 1727,497 1518,037 4703,743 1102,323 1 / 4 966,748 9,506 76,895 1 1 1 316,428 387,591 536,513 3,838 17,531 8,772 27,586 6,249 19,517 1 2 498,460 859,070 11,014 17,681 21,224 52,254 (2) 632,794 1175,555 1109,903 3206,335 (2) 1 1 318,172 211,375 326,963 271,866 13,637 12,666 6,713 12,429 4,905 7,205 5,080 13,577 725,03: 11,673 36,503 52,688,477 2757,226 12,828,662 2958,375 4331,347 3^83,547 3136,357 8830,366 2227,050 1238,979 2362,894 2166,958 6366,7^ 1 / A f t e r d e d u c t i n g $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. H-.k-.JLCc) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM OH OCTOBER 12, i960 Total Boston j Neir York ^ ^ 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 Chicago | ^ ^ Dallas (In thousands of d o l l a r s ) 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 d e p o s i t s Ri=-ona Atlanta 27,805,436 1599,276 6,440,575 1792,945 2525,378 2140,774 1577,237 5242,769 1196,648 592,737 1128,698 17,639,343 454,003 169,931 749,893 19,033,170 761,618 5,576 9,163 ?82 776,739 4,874,073 948 1/56,226 "120,647 5,251,894 4,523,034 314,089 756,511 817,306 2751,093 816,421 1339,914 5,027 5,411 11,033 17,578 2,390 499 834,871 1363,402 789,663 906,959 2646,908 42,427 87,871 5,863 8,415 9,724 25,806 35,442 59,109 60,465 875,947 1063,603 2739,042 657,204 43,027 6,171 59,153 765,555 391,159 33,455 4,301 25,318 454,233 825,934 926,823 2702,667 59,472 65,844 99,082 7,667 10,846 23,001 37,121 4 o , 4 l l 108,956 930,194 1043,924 2933,706 252,10b 407,348 221,637 162,312 249,582 317,893 426,962 655,643 233,265 525,686 2,248 11,069 2,347 4,193 2,479 2,367 7,039 1,682 1,283 1,821 1,823 5,330 43.681 2692,352 1 2 , 4 6 0 , 0 4 9 W 2 , 2 6 9 ' 4 2 1 6 , 8 6 6 " 3 4 2 6 7 5 4 8 3 0 / 0 , 2 2 9 8644,493 2185,522 1210,565 2310,295 2096,318 6215,815 51,405,321 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents 403,450 774,808 104,898 19,981 38,332 6,561 114,016 220,905 33,692 23,519 45,638 6,949 37,393 72,530 10,558 18,433 34,566 4,ooo 21,560 40,306 4,262 56,294 107,334 22,245 13,480 25,862 2,186 9,274 17,580 1,560 17,127 31,720 3,752 23,202 44,645 2,793 49,171 95,390 6,340 52,688,477 2757,226 12,828,662 2958,375 4331,347 3483,547 3136,357 8830,366 2227,050 1238,979 2362,894 2166,958 6366,716 201.688 9,883 2/57,472 11,900 18,960 9,077 10,488 27,835 6,656 FEDERAL RESERVE AGENTS' ACCOUNTS 287802,903 16697956' 6,666,726 1826,544 2638,544 2204,452 1638,388 5341,258 1245,853 F. R. notes outstanding C o l l a t . f o r F. R. notes: Gold c e r t i f i c a t e a c c t . 10,300,000 530,000 E l i g i b l e paper -7,854 U. S. Govt, s e c u r i t i e s 19,565,000 1250,000 Total c o l l a t e r a l 29,872,854 1780,000 1 / A f t e r deducting $ 1 3 3 , 7 0 5 , 0 0 0 p a r t i c i p a t i o n s 2 / A f t e r deducting $144,216,000 p a r t i c i p a t i o n s 2,800,000 700,000 920,000 700,000 500,000 1900,000 410,000 -2,230 --— -390 4,000,000 1200,000 1750,000 1525,000 1200.000 3700,000 935,000 6,800,000 1902,230 2670,000 2225,000 1700,000 5600,000 1345,390 of other Federal Reserve Banks. of other Federal Reserve Banks. 4,639 8,270 11,699 24,809 670,590 1156,026 864,661 2879,905 180,000 300,000 — 5,234 510,000 870,000 690,000 1175,234 260,000 1100,000 625,000 2000,000 885,000 3100,000
@FedFRASER