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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release October 15, 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 October l 4 decreased $135 m i l l i o n t o $18,501 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 $163 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 $28 m i l l i o n t o $521 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 $527 m i l l i o n , compared with $513 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 reducing average r e s e r v e s were a d e c r e a s e of $49 m i l l i o n i n F e d e r a l Reserve f l o a t , and i n c r e a s e s of $163 m i l l i o n i n money i n c i r c u l a t i o n , $44 m i l l i o n i n " o t h e r " d e p o s i t s with F e d e r a l Reserve Banks, and $26 m i l l i o n i n f o r e i g n d e p o s i t s with F e d e r a l Reserve Banks. 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 $46 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 repurchase agreement and $42 m i l l i o n i n member bank borrowings, and a decrease of $59 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. T o t a l Reserve Bank c r e d i t i n c r e a s e d $44 m i l l i o n . As of Wednesday, October l 4 , U. S. Government s e c u r i t i e s h e l d under repurchase agreement were $15 m i l l i o n lower t h a n a week e a r l i e r and member bank borrowings were $176 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 Wednesda; October l 4 , October 7, October 15, Oct. 14, 1958 1959 1959 1959 ( I n m i l l i o n s of d o l l a r s ) + 46 +1,,210 71 26,563 35 21 2 + + 1 2 + 11 2 20 1,048 3 956 28,667 19,489 5,290 53,446 + + + + + 42 2 49 44 2 1 43 + 576 + 2 + 34 +1,742 -1, 275 + 70 + 537 453 4 994 28,069 19,489 5,290 52,848 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 ) 32,096 387 474 326 464 1,197 34,944 +163 + - - - - 59 + 26 + 44 + 3 +178 598 302 + 88 1 + 52 4- 76 + 510 32,093 394 437 377 401 1,195 34,898 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 ) 18,501 17,980 521 -135 -163 + 28 + 17,950 17,941 9 26,563 74 - - + 26 9 35 On October l 4 , 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 $4,484 m i l l i o n , an i n c r e a s e of $75 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 $833 m i l l i o n from t h e comparable date a year ago. fi.4.1(a) STATEMENT OB' CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F . R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s F . R. n o t e s of o t h e r Banks Other cash Discounts and advances I n d u s t r i a l loans Acceptances—bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held under r e p u r c h a s e agreement T o t a l U. S- Government s e c u r i t i e s T o t a l l o a n s and s e c u r i t i e s Due from f o r e i g n banks Cash items i n p r o c e s s of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS October l b , 1959 18, 245, l 4 l 950,879 19,193,020 395,933 361,526 456,301 - + • - - - 20,037 2,562,250 10, 506,993 11,010,298 2,483,771 26,563,312 35,100 26,598,412 10,001 7,519 2, 482 27,966 1,882 175,220 - - 1 + —— —— —— 15,000 15,000 1,183,940 93,000 + 1,090,940 190,219 + 1,289,820 —— - 27,662,159 + 58,220 - 101,403 16,461 34,662 719 82,483 965,628 1,097 942,462 C A P I T A L ACCOUNTS Capital paid i n " "" Surplus Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 383,572 868,410 257,097 53,546,027 + - — <*• - + + - + + + + + + 4l.0$ 64,373 5 -11,000,298 +11,000,298 mm mm +1,164,766 + 2 17,537 + 959,756 17,949,852 436,947 376,938 401,304 19,165,041 5,170,879 38,869 52,036,948 1,071,752 72,033 999,719 + 68,066 + 2,559 + 211,446 338 ~ 12,228 - + + 1,183,940 - - 27,074,750 15 6,164,808 97,694 255,281 53,546,027 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 accrued 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 f o r foreign correspondents I n d u s t r i a l l o a n commitments Change s i n c e October 7, October 15, 1958 1959 - - - + 196,020 7,018 65,910 237,634 + 605,821 - + + 600,549 97,234 53,297 62,574 387,444 129,433: 16,900 105,844 101 — 17,193 959,756 + + + + 26,400 59,215 46,175 237,634 — - 2.3$ - 3,286 1,014 -- 662 - + + + + + - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER l 4 , 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 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 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 Over 10 y e a r s Total Discounts and advances 442,946 12,286 1,069 -— __ 456,301 Acceptances 7,342 12,695 — -— — 20,037 U. S . Government securities 399,160 6,536,050 11,669,133 6,523,912 410,385 1,059,772 26,598,412 2.4.1(b) STATEMENT OF CONDITION OF BACH FEDERAL RESERVE BANK ON OCTOBER 14, 1959 PhilaCleveSt. Boston New York Richmond A t l a n t a Chicago delphia land Louis ( I n thousands of d o l l a r s ) Total A S S E T S Kansas City Dallas 726,574 364,298 681,188 645,514 2470,836 174,505 43,340 22,934 43,658 933,569 3506,749 769,914 387,232 724,846 27,295 59,295 10,107 20,191 33,282 8,601 18,588 11,793 15,029 14,154 36,663 49,140 123,372 6,437 40,059 47,306 19,432 8,664 18,245,141 836,612 950,879 57,851 19,196,020 894,463 F.R. n o t e s of o t h e r Banks Other cash 395,933 361,526 36,412 24,485 79,281 65,696 30,071 21,039 18,594 33,811 37,561 23,463 KM Minneapolis D i s c o u n t s and advances Acceptances— Bought o u t r i g h t 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 u n d e r r e p u r c h a s e agreement 456,301 19,454 28,486 20,089 36,683 10,185 96,134 — w w w Gold c e r t i f i c a t e account 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 reserves 4,436,575 1084,690 1660,595 1128,761 208,473 84,442 20,037 —— 56,315 O CO 35,100 84,564 4,645,048 1143,565 1745,159 1213,203 20,037 2,562,250 138,912 10,506,993 569,637 11,010,298 596,923 2 , 4 8 3 , 7 7 1 134,658 26,563,312 1440,130 58,875 877,254 3332,244 33 3100 *"* 85,514 675,922 2556,350 mm mm 644,796 146,115 221,834 164,208 1 3 5 , o 4 l 443,403 104,207 2,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 2,770,763 627,873 953,250 705,628 580,287 1905,354 447,789 625,046 141,639 215,040 159,180 130,905 429,821 101,015 6 , 6 8 4 , 7 1 1 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 — — 30,4o8 San Francisco —— —— —— 58,360 110,446 102,270 292,658 239,318 452,904 419,376 1200,098 250,782 474,599 439,465 1257,585 56,573 107,063 99,137 283,694 605,033 1145,012 1060,248 3034,035 — — —— T o t a l U. S . Govt, s e e s . 26,598,412 1440,130 6 , 7 1 9 , 8 1 1 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 605,033 1145.012 1060.2k8 3014.015 Total loans & securities 27,074,750 1459,584 6,768,334 1534,888 2336,481 1712,574 1496,127 4720,206 1086,767 645,092 1192,318 1079,680 3042,699 1 2 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 15 1 6,164,808 97,694 361,445 4,394 13,939 255,281 / 4 1,194,843 10,038 63,204 l l 1 420,324 4,096 14,280 537,137 9,295 22,369 510,715 6,787 16,328 1 2 481,188 1030,645 9,737 13,851 14,546 43,320 1 290,790 7,151 10,230 / 172,634 5,171 5,763 1 288,637 4,664 11,860 1 278,068 10,038 10,351 598,382 12,472 29.091 53,546,027 2794,723 12,826,448 3168,264 4702,84? 3520,632 3018,076 9401,363 2195,151 1257,775 2252,707 2083,243 6324,798 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. 1 T H.4.1(c) Total 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 TJ .8 .Treas . - g e n . a c c t . Foreign Other Total deposits Deferred a v a i l a b i l i t y c a s h items O t h e r l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER l 4 , 1959 PhilaCleveSt. Boston New York Richmond A t l a n t a Chicago delphia land Louis ( I n thousands of d o l l a r s ) Minneapolis Kansas City Dallas San Francisco 27,662,159 1590,981 6,412,133 1737,157 2525,921 2117,185 1527,046 5265,910 1214,956 6 0 6 , 4 l 8 1103,105 804,565 2756,782 17,949,852 436,947 376,938 401,304 19,165,041 763,798 26,057 20,515 2,057 812,427 4,527,310 , 59,690 1/108,378 319,000 5,014,378 5,170,879 304,797 978,935 901,945 1526,317 30,112 37,589 24,618 33,570 8,697 2,582 965,372 1600,058 828,942 954,653 2907,310 39,438 26,862 47,971 18,650 17,531 55,204 6,628 3,192 5,821 893,658 1002,238 3016,306 659,047 20,238 13,801 2,254 695,340 424,423 27,702 8,952 934 462,011 802,972 41,700 14,547 3,061 862,280 910,695 2742,440 32,125 47,463 19,396 41,776 1,863 45,215 964,079 2876,894 364,868 428,579 225,148 151,366 224,899 236,4o4 437,588 4i3,46l 887,713 517,121 38,869 2,055 9,983 1,963 3,899 2,346 2,016 6,092 1,513 1,233 1,708 1,634 1 4,427 / ^ ^ ^ ^ ^^ ^ —? j * * —i 52,036,948 2710,260 12,415,429 3069,360 4567,466 3441,768 2944,761 9176,021 2136,957 1221,028 2191,992 2006,682 6155,224 CAPITAL ACCOUNTS Capital paid in Surplus O t h e r 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 acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l l o a n commit. 383,572 868,410 257,097 18,945 50,116 15,402 22,798 59,607 16,499 36,055 76,643 22,683 17,194 44,846 16,824 19,765 39,474 14,076 52,254 132,159 40,929 12,755 33,746 11,693 8,727 20,785 7,235 15,640 32,935 12,l4o 22,002 43,436 11,123 47,127 95,761 26,686 53,546,027 2794,723 12,826,448 3168,264 4702,847 3520,632 3018,076 9401,363 2195,151 1257,775 2252,707 2083,243 6324,798 64,373 5 3,542 F . R. n o t e s o u t s t a n d i n g 28,55l,40l|l657,237 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 . 10,480,000 530,000 E l i g i b l e paper 73,307 "" U. S . Govt, s e c u r i t i e s 19,060,000 1200.0C0 Total c o l l a t e r a l 29,613,307 1730,000 \ f A f t e r d e d u c t i n g $268,560,000 p a r t i c i p a t i o n s Digitized _§/ Afor f t FRASER e r deducting $46,368,000 p a r t i c i p a t i o n s 110,310 238,902 61,807 2/18,005 4,250 5,796 5 3,220 3,027 9,531 2,383 1,545 2,512 3,349 7,213 FEDERAL RESERVE AGENTS' ACCOUNTS 6,635,065 1780,142 2583,664 2171,991 1587,713 5368,302 1262,948 620,646 1132,217 851,126 2900,350 2,700,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 —— 19,845 — — — — —— — — 6,300 — — 47,162 —— 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 6 , 7 0 0 , 0 0 0 1 3 5 9 , 8 4 5 2670,000 2220,000 1700,000 5500,000 1371,300 650,000 1197,162 915,000 3100,000" of o t h e r F e d e r a l Reserve Banks of o t h e r F e d e r a l Reserve Banks
@FedFRASER