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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release October 8, 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 October 7 increased $242 million to $18,636 million. Estimated required reserves increased $3 million; and estimated excess reserves increased $239 million to $493 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $513 million, compared with $467 million the week before. The principal changes supplying average reserves were increases of $285 million in member bank borrowings and $28 million in U. S. Government securities held under repurchase agreement, and a decrease of $l48 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $93 million in Federal Reserve float and an increase of $124 million in money in circulation. Total Reserve Bank credit increased $220 million. As of Wednesday, October 7, U. S. Government securities held under repurchase agreement were $50 million higher than a week earlier and member bank borrowings were $299 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright—System account Held under repurchase agreement Acceptances—bought outright 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, Sept. 3°, I October 8, October 7, October 7, 1959 1 1958 1959 1959 (In millions of dollars) 26,563 28 20 » - + 28 - - +1,420 + 28 11 26,563 50 20 + 94 +2,104 -1,339 + 70 4834 629 3 , 795 28,060 19,490 5,289 52,839 581 304 86 1 77 75 515 32,006 391 453 342 401 1,194 34,787 318 390 72 18,051 18,120 69 1,006 1 1,005 28,623 19,491 5,289 53,403 - 93 +220 - 2 + 2 +220 + 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) 31,933 387 533 300 420 1,194 34,766 +124 - 3 -148 - 10 + 17 - 2 - 23 + Member bank reserves — Required reserves (estimated) Excess reserves (estimated) 18,636 18,143 493 +242 + 3 +239 +285 573 » — •» — - + + + + + + + - On October 7, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,409 million, an increase of $63 million for the week and an increase of $804 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—"bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign "banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS Change since Sept. 30, October 8, 1959 1958 October 7, 1959 18,255,142 943,360 19,198,502 423,899 363,408 631,521 + 20,036 + • - - + 24,998 29,525 4, 527 59,670 20,084 301,489 - - 2, 562,250 10,506,993 11,010,298 2,483,771 26,563,312 50,100 26,613,412 27,264,969 15 5,000,042 97,692 237,744 52,586,271 1,102,750 63,110 - 1,039,640 + 83,151 167 + 248,696 340 12,170 - + • 1 1,341,040 -11,000,298 +11,000.298 mm mm w — mm mm — mm + + 50,100 50,100 + 1,341,040 + 50,100 + 1,391,140 + 351,590 + 1,627,326 mm mm — — mm mm - + - 437,289 50 17,445 152,485 + 396,151 + 7,139 + 60,411 + 1,134,371 L I A B I L I T I E S Federal Reserve notes ~ Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 18,051,255 453,408 342,276 400,585 19,247,524 4,205,251 37,772 51,094,486 + - 291,441 250,128 30,443 47,171 24,585 280,884 2,034 169,736 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 383,471 868,410 239,904 52,586,271 + 105 + 17,146 152,465 426,295 + 59,215 + 38, 574 + 1,134,371 .1$ 2.8$ Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 27,603,939 88,597 - + - + - - 4l.0$ 64,995 5 - + 604,455 174,309 100,050 16,781 51,382 6,096 + 394,690 + 17,238 + 1,010,287 - + + + . 1,584 - 6,243 1,026 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 7, 1959 (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 620,007 9,442 2,072 631,521 Acceptances 7,717 12,319 20,036 U. S. Government securities &50,800 6,453,410 11,715,133 6,523,912 410,385 1,059,772 26,613,412 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 7i 1959 St. ClevePhilaNew 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 18,255,142 863,305 943,360 Minneapolis 199,089 57,989 59,079 84,767 85,063 F.R. notes of other Banks Other cash 423,899 363,4o8 41,916 25,779 84,610 63,413 36,704 22,021 20,580 32,897 37,770 23,623 Discounts and advances Acceptances— Bought outright U. S. Govt. securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 631,521 27,249 81,631 28,238 68,793 5,565 — «• 20,036 tm mm mm mm 644,796 2, 562,250 138,912 10,506,993 569,637 2,644,106 11,010,298 596,923 2,770,763 625,046 2,483,771 134,658 1440,130 6,684,711 26,563,312 50,100 San Francisco Dallas 4,558,071 1038,673 1602,4o4 1127,931 874,996 3194,897 719,977 357,131 681,624 700,993 2535,140 56,484 174,727 43,394 19,198,502 921,294 4,757,160 1097,752 1687,171 1212,994 931,480 3369,624 763,371 20,036 Kansas City •> 50,100 146,115 599,172 627,873 141,639 1514,799 —— — •» 221,834 909,674 953,250 215,040 2299,798 —— 22,998 43,699 30,445 380,129 725,323 731,438 2620,766 28,427 59,949 9,988 18,807 34,790 9,339 20,881 11,839 14,491 13,619 37,562 49,783 112,367 165,221 18,500 18,945 57,070 40, l4o 7,802 56,180 32,339 — -* - - — — - - — — — - 58,360 110,446 102,270 164,208 135,04i 443,403 104,207 673,373 553,760 1818,256 427,319 239,318 452,904 419,376 705,628 580,287 1905,354 447,789 250,782 474,599 439,465 56,573 107,063 99,137 159,180 130,905 429,821 101,015 1702,309 1399,993 4596,034 1000,330 605,033 1145,012 1060,24b —— 85,626 •« —— —— 292,658 1200,098 1257,585 283,694 3034,035 •• Total U. S. Govt, sees. 26,613,412 1440,130 6,734,811 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 605,033 1145,012 1060,248 3034,035 Total loans & securities 27,264,969 1467,379 6,836,478 1543,037 2368,591 1707,954 1512,360 4762,055 1098,830 623,978 1202,082 1100,388 3041,837 Due from foreign tanks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 15 1 5,000,042 97,692 237,744 359,636 4,394 13,184 1 / 4 910,113 10,038 58,888 1 1 1 2 1 2 / 1 1 1 306,695 4o8,161 428,272 402,485 793,373 236,020 150,362 243,815 245,348 515,762 4,095 9,295 6,787 9,737 13,851 7,150 5,171 4,664 10,038 12,472 13,278 20,880 15,135 13,641 40,181 9,522 5,371 ll,o4o 9,537 27,087 52, 586,271 2833,583 12,720,704 3023,583 4547,576 3432,536 2958,223 9067,462 2143,689 1209,140 2219,645 2124,860 6305,270 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 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 CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 1, 1959 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) 27,603,939 1582,334 18,051,255 453,408 342,276 400,585 19,247,524 4,205,251 6,398,305 1728,235 2521,548 2108,148 1528,502 5255,006 1210,622 Minneapolis Kansas City 607,651 1105,395 Dallas San Francisco 802,461 2755,732 782,637 4,714,957 877,417 1466,755 814,621 33,460 41,304 31,973 34,681 49,559 17,985 1/106,836 21,582 29,430 16,350 279 ~ 332,788 3,856 1,380 6,633 834,361 5,195,885 934,828 1532,246 887,163 952,515 2820,156 24,402 48,970 15,369 48,396 1,380 3,310 993,666 2920,832 639,995 399,806 796,884 992,407 2793,105 33,402 27,616 47,208 24,707 56,126 17,004 36,624 12,099 7,848 12,753 1,981 433 2,569 989 44,987 687,477 435,703 859,414 1035,107 2930,842 331,376 361,737 663,058 186,636 710,051 260,678 356,013 357,278 128,218 193,305 209,896 447,005 37,772 1,903 10,043 1,937 3,800 2,117 1,919 6,328 1,390 1,174 1,566 1,521 4,074 51,094,486 2749,974 12,314,284 2925,678 4413,607 3354,706 2885,824 8845,224 2086,125 1172,746 2159,680 2048,985 6137,653 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 383,471 868,410 239,904 18,939 50,116 14,554 110,277 238,902 57,241 22,782 59,607 15,516 36,053 76,643 21,273 17,190 44,846 15,794 19,760 52,232 39,474 132,159 13,165 37,847 12,755 33,746 11,063 8,725 20,785 6,884 15,632 32,935 11,398 21,999 43,436 10,440 47,127 95,761 24,729 52,586,271 2833,583 12,720,704 3023,583 4547,576 3432,536 2958,223 9067,462 2143,689 1209,140 2219,645 2124,860 6305,270 64,995 5 3,575 2/18,195 4,290 5,850 3,250 3,055 9,620 2,405 1,560 2,535 3,380 7,280 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,547,693 1654,979 Collat. for F. R. notes: Gold certificate acct. 10,700,000 530,000 Eligible paper 103,425 U. S. Govt, securities 19,060,000 1200,000 Total collateral 29,863,425 1730,000 .1/ After deducting $235,440,000 participations 2/ After deducting $46,800,000 participations 6,642,013 1779,243 2582,395 2158,675 1584,860 5369,230 1260,672 621,610 1131,232 855,466 2907,318 2,920,000 64o,ooo 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 -• 28,060 -•—— —— 18,400 -56,965 ** —— 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 6,920,000 1868,060 2670,000 2220,000 1700,000 5500,000 1383,400 650,000 1206,965 915,000 3100,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER