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BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
H.4.1
For Immediate Release
October 6, 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 October 5 increased a net of $98 million to $18,707 million; cash
allowed as reserves decreased $153 million and member bank reserve balances at the
Federal Reserve Banks increased $251 million. Estimated required reserves increased
$21 million; and estimated excess reserves increased $77 million to $597 million.
Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by
$397 million, compared with the revised figure of $295 million the week before.
The principal changes supplying average reserve balances with Federal
Reserve Banks were increases of $380 million in U. S. Government securities bought
outright and $109 million held under repurchase agreement, and a decrease of $112
million in Treasury deposits with Federal Reserve Banks. The principal offsetting
changes were decreases of $146 million in Federal Reserve float and $60 million in
gold stock, and increases of $65 million in "other" deposits with Federal Reserve
Banks and $42 million in currency in circulation. Total Reserve Bank credit increased $326 million.
As of
bought outright
securities held
bank borrowings
Wednesday, October 5; holdings of U. S. Government securities
were $227 million higher than a week earlier, U. S. Government
under repurchase agreement were $44 million higher, and member
were $477 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
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
Sept. 28, I Oct. 7,
Oct. 5,
I960
I960
1959
(In millions of dollars)
26,836
192
35
7
Wednesday
Oct. 5,
I960
+380
+109
+
+
273
164
26,900
150
+
+
+
15
7
35
6
806
18
91
'238
820
+
88
970
117
20
1,013
28,241
18,632
5,377
52,250
+
+
113
19
66
87
23
258
255
32,131
4ll
376
194
387
934
3k, ^33
714
785
71
.43
114
17,817
785
18,602
18,065
537
1
7
200
19
1,096
28, 385
18,671
5,377
52,433
-146
+326
- 60
+ 2
+269
32,046^
4o6- 3
467
213
443
936
34,511
+ 42
+ 7
-112
+ 13
+ 65
+ 2
+ 17
17,922
785
18,707
18,110
597
+251
-153
+ 98
+ 21
+ 77
- 25
— —
4"
+
•
-
-
+
-
-
" -
+
+
-
+
On October 5, i960, U. S. Government securities held in custody by the
Federal Reserve Banks for foreign account were $5,527 million, an increase of
$33 million for the week and an increase of $1,118 million from the comparable
date a year ago.
H.4.1(a)
STATEMENT OF CONDITION
OF THE TWELVE FEDERAL 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
Sept. 28,
Oct. 7,
I960
1959
Oct. 5,
i960
17,366,64l
972,723
15339:355
-
-
60,002
4,4o6
64,408
F. R. notes of other Banks
Other cash
430,932
394,825
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
136,817
35,109
5,839
+
+
2,000
5,839
2,898,947
14,006,993
7,510,298
2,483,771
26,900,009
150,200
27,050,209
+
226,900
Total loans and securities
Due from foreign banks
Cash items in process of collection
Bank premises
Other assets
TOTAL ASSETS
27,227,974
15
5,475,211
106,316
293,067
52,267,704
-
56,200
9,412
-
+
+
480,592
— —
4.
+
+
888,501
29,363
859,136
7,033
31,417
494,704
+
+
15,073
5,839
+ 336,697
+3,500,000
-3,500,000
«»«.
— —
226,900
43,700
270,600
+
+
+
202,153
336,697
100,100
436,797
36,995
«w —
-
+
-
144,542
137
20,437
456,415
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
27,698,125
+
17,817,213
375,707
194,243
387,323
18,774,486
4,461,817
42,402
50,976,830
240,978
178,688
4* 10,287
+
5,729
403,650
171,038
+
1,157
473,691
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
403,098
774,808
112,968
52,267,704
+
Ratio of gold certificate reserves to deposit
and F. R. note liabilities combined
Contingent liability on acceptances purchased
for foreign correspondents
+
+
+
+
-
99,840
94,186
-
•
-
-
•
362
+
-
•
w
+
+
-
+
•
mm mm
16,914
456,415
475,169
8,624
55,323
318,567
-
-
234,042
77,701
148,033
13,262
473,038
256,566
4,630
117,656
19,627
93,602
126,936
318,567
39.5#
+
.2#
mm
1.556
202,104
-
2,989
+
137,109
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 5, 196(3
(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
112,844
22,834
1,139
—
--136,817
Acceptances
15, 496
25,452
—
—
__
40,948
U. S. Government
securities
736,240
6,316,44?
12,861,018
5,686,647
1,178,574
271,283
27,050,209
E.4.1(b)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 5, i960
Fhila
CleveSt.
Boston
New York
Richmond Atlanta Chicago
delphia
land
Louis
(In thousands of dollars)
Total
A S S E T S
Gold certificate account
Redemption fund for
F. R. notes
Total gold certificate
reserves
17,366,641 785,327
972,723
Kansas
City
Dallas
San
Francisco
4,515,329 1003,028 1518,016 1073,840 829,680 3132,148 684,374 311,562 691,034 620,107 2202,196
59,010
18,339,364 844,337
Minneapolis
212,417
57,809
86,774
78,075
60,848 176,953
43,445
4,727,746 1060,837 1604,790 1151,915 890,528 3309,101 727,819
56,476
27,876
90,200
71,748
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.
136,817
10,780
11,110
35,109
5,839
35,109
5,839
150^ 2 0 0
32,230
93,805
338,021 735,932 652,337 2296,001
13,467
34,354
19,768
21,888
65,278
32,914
25,080
62,615
12,542
19,874
23,422
9,659
17,667
13,700
16,948
15,328
50,453
66,002
10,400
13,680
6,600
20,340
22,718
1,335
7,121
5,750
13,523
13,460
- -
- -
"
2,898,947 155,790
723,090 165,982 249,069 183,489
14,006,993 752,736 3,493,792 801,984 1203,439 886,573
7,510,298 403,603 1,873,309 430,010 645,262 475,364
2,483,771 133,478
619,532 142,211
213,398 157,210
... .
26/900,009 1445,607 6,709,723 1540,187 2311,16b 1702,636
150,200
44,898
VO CO
430,932
394,825
s&S
F.R. notes of other Banks
Other cash
26,459
•••
•••
——
158,951
768,017
411,798
136,188
1474,954
——
- -
496,179 117,168
67,270 124,425 116,827
2397,409 566,121 325,032 601,194 564,482
1285,447 303,543 174,277 322,350 302,665
425,117 100,386
57,636 106,6c6 100,096
4604,152 1087,2l8 624,215 1154,575 1084,070
——
— •*
«- —
——
340,707
1646,214
882,670
291,913
316^504
—«.
«.«.
Total U. S. Govt, sees.
27,050,209 1445,607 6,859,923 1540,187 2311,168 1702,636 1474,954 4604,152 1087,218 624,215 1154,575 1084,070 3161,504
Total loans & securities
27,227,974 1456,387 6,911,981 1550,587 2324,848 1709,236 1495,294 4626,870 1088,553 631,336 1160,325 1097,593 3174,964
Due from foreign banks
Cash items in process
of collection
Bank premises
Other assets
TOTAL ASSETS
15
5,475,211
106,316
293,067
1
1
/
4
384,242 1,032,913
4,017
9,506
15,683
72,575
l
1
1
1
2
(2)
(2)
1
1
2
329,378 439,464 447,620 413,116 843,089 243,476 161,295 279,067 259,473 642,078
3,838
8,767
6,249
10,770
21,224
6,713
4,904
5,080
13,577
11,671
16,542
26,287
18,627
16,737
49,128
11,697
6,717
12,826
11,883
34,365
52,267,704 2789,019 12,916,673 3019,681 4451,978 3375,304 2924,638 8937,109 2110,674 1175,354 2224,598 2067,140 6275,536
1/ After deducting $11,000 participations of other Federal Reserve Banks.
2/ Less than $500.
H.4.1(c)
Total
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 C0NDIT]CON OF EACH FEDERAL RESERVE BANK ON OCTOBER 5,, I960
PhilaCleve- I .
St.
Boston
New York
land {Richmond Atlanta Chicago
delphia
Louis
(in thousands of dollars)
27,698,125 1592,248
6,423,152 1780,517 2510,045 2129,387 1580,490 5215,110 1192,002
Minneapolis
Kansas
City
San
Dallas Francisco
591,712 1124,336 812,462 2746,664
17,817,213 746,399 4,941,920 861,644 1388,392 761,732 879,434 2758,172 646,684 391,490 796,628 901,329 2743,389
33,390
21,492
22,963
40,854
46,682
18,765
33,076
35,216
31,773
40,928
26,284
375,707 24,284
194,243
9,163
1/60,538
4,301
7,667
10,846
23,001
11,033
17,578
8,415
9,724 25,806
6,171
201
2,584
601
47,338
387,323
570
325,348
1,799
981
4,677
962
998
1,264
18,774,486 780,416 5,361,196 093,241 1440,027 010,040 921,093 2825,904 680,403 417,404 0^9,o4'd 953,630 %oco,4io
4,461,817 350,336
756,357 268,579 378,775
373,214 351,563
706,632 193,292 135,473
214,292
226,563
506,741
42,402
2,005
11,830
2,230
4,107
2,338
2,163
6,840
1,539
1,194
1,704
1,765
4,687
50,976,830 2725,005 12,552,535 2944,567 4332,954 3314,979 2856,109 8754,486 2067,236 1145,863 2170,174 1994,420 6118,502
CAPITAL ACCOUNTS
Capital paid in
Surplus
Other, capital accounts
TOTAL LIABILITIES AND
CAPITAL ACCOUNTS
Conting. liab. on acceptances purchased for
foreign correspondents
403,098
774,808
112,968
19,971
38,332
5,711
113,995
220,905
29,238
23,497
45,638
5,979
37,400
72,530
9,094
18,430
34,566
7,329
21,552
56,032
40,306 107,334
6,671
19,257
13,471
25,862
4,105
9,269
17,580
2,642
17,109
31,720
5,595
23,201
44,645
4,874
49,171
95,390
12,473
52,267,704 2789,019 12,916,673 3019,681 4451,978 3375,304 2924,638 8937,109 2110,674 1175,354 2224,598 2067,140 6275,536
202,104
9,903
2/57,602
11,924
18,998
9,095
10,509
27,890
6,669
4,648
8,286
11,722
24,858
FEDERAL RESERVE AGENTS» ACCOUNTS
F. R. notes outstanding
Collat. for F. R. notes:
Gold certificate acct.
Eligible paper
U. S. Govt~ securities
Total collateral
28,753,319|1675,463
6,673,502 1819,797 2621,961 2192,034 1638,000 5319,064 1240,234 670,921 1152,535
850,578 2899,230
10,300,000 530,000 2,800,000 700,000 920,000 700,000 500,000 1900,000 410,000 180,000 300,000 260,000 1100,000
14,825
——
19,565,000 1250,000
29,879,825 1780,000
1/ After deducting $133,705,000 participations
2/ After deducting §144,502,000 participations
——
9,220
——
——
——
——
675
—4,930
--4,000,000 1200,000 1750,000 1525,000 1200,000 3700,000 935,000 510,000 870,000 625,000 2000,000
6,800,000 1909,220 2670,000 2225,000 1700,000 5600,000 1345,675 690,000 1174,930 885,000 3100,000
of other Federal Reserve Banks.
of other Federal Reserve Banks.
@FedFRASER