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BOARD OF G!£#ERNORS OF THE FEDERAL f&SERVE SYSTEM H.4.1 For Immediate R e l e a s e September 10, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The a v e r a g e 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 September 9 i n c r e a s e d $74 m i l l i o n t o $18,640 m i l l i o n . E s t i m a t e d r e q u i r e d r e s e r v e s d e c r e a s e d $94 m i l l i o n ; and e s t i m a t e d e x c e s s r e s e r v e s i n c r e a s e d $168 m i l l i o n t o $600 m i l l i o n . Member bank b o r r o w i n g s a t t h e F e d e r a l R e s e r v e Banks exceeded e x c e s s r e s e r v e s b y $457 m i l l i o n , compared w i t h $533 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 s u p p l y i n g a v e r a g e r e s e r v e s were i n c r e a s e s of $92 m i l l i o n i n member b a n k b o r r o w i n g s and $63 m i l l i o n i n F e d e r a l R e s e r v e h o l d i n g s of U. S . Government s e c u r i t i e s , and a d e c r e a s e of $131 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 w i t h F e d e r a l R e s e r v e B a n k s . 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 $175 m i l l i o n i n money i n c i r c u l a t i o n . T o t a l Reserve Bank c r e d i t i n c r e a s e d $l4l million. As of bought o u t r i g h t securities held b o r r o w i n g s were Wednesday, September 9, h o l d i n g s of U. S. Government s e c u r i t i e s were $8 m i l l i o n l o w e r t h a n a week e a r l i e r , U. S . Government u n d e r r e p u r c h a s e agreement were $7 m i l l i o n l o w e r , and member bank $154 m i l l i o n l o w e r . 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 Sept. 9, Sept . 10; Sent. 2, Sept. 9, 1959 1958 1959 1959 (][n millions of dollars) 26,663 91 + 13 + 50 +1,430 + 91 22 2 + + + 1 1 543 1 64 +1,995 + * + +139 + 61 567 +175 - 1 -131 + 15 + 8 - 1 + 674 32,238 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) 32,107 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. 18,64o 18,040 600 20 - - + 92 + 1 - 17 +i4i - 2 341 1,259 34,813 9 2 463 1 773 27,931 19,522 5,274 52,727 1,057 1 819 28,656 19,523 5,274 53,453 4oi 430 275 - 26,643 32 -1,409 - 293 - 48 ~ + 65 + + + + 74 + - 94 +168 + - 55 22 106 395 370 308 374 1,256 4o6 34,940 161 167 17,787 18,017 6 -230 On September 9> 1959, U. S . Government s e c u r i t i e s h e l d i n c u s t o d y by t h e F e d e r a l R e s e r v e Banks f o r f o r e i g n a c c o u n t were $ 4 , 3 0 4 m i l l i o n , an i n c r e a s e of l e s s t h a n $1 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 $886 m i l l i o n from t h e comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of d o l l a r s ) ASSETS Gold certificate~account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government s e c u r i t i e s : Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s Total loans and s e c u r i t i e s Due from foreign banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 18,306,143 926,321 19,232,464 356,879 344,617 463,461 19,536 138 2,641,700 10,506,993 11,010,298 2,483,771 26,642,762 31,750 26,674,512 177,759 51,956,848 — — + - . 10,002 55,145 36,130 153,797 27,770,265 17,786,949 369,700 308,311 373,578 10,638,538 3,817,718 39,985 50,466,506 - — 1,017 - 10,548 138 - 245 + - 7,700 + 1,562,140 14,200 + + + 1,562,140 31,750 1,593,890 . 169,259 + 1,582,500 — — — » -11,000,298 +11,000,298 —» - 7,700 6,500 — — - - + + • + . mm mm 393,941 2 18,688 625,783 + + + 147,843 6,537 34,313 285,861 186,079 + 764,623 - 320,183 170,912 34,873 28,339 427,883 401,939 684 643,059 + 868,4l0 239,274 51,956,848 183 + - 17,093 625,783 41.3# + .3i> 71,092 350 - 382,658 1,239,750 48,009 - 1,191,741 + 21,4ll 19,316 639 341 • + + + • + - • - + - + + + + + + 384,472 141,867 74,121 54,976 545,484 78,764 21,741 162,116 26,406 59,215 38,124 285,861 2.7% 11,689 & ITS 1 1 Ratio of gold c e r t i f i c a t e reserves t o deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased for foreign correspondents Industrial loan commitments 10,002 * 96,566 CAPITAL ACCOUNTS CapitaTpIid in™ Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS + «« — 27,157,647 15 4,590,901 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 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 Change since Sept. 2, Sept. 10, 1959 1958 Sept. 9, 1959 - 666 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 9, 1959 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing v i t h i n 15 days i n accordance with maximum maturity of the agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 456,156 7,156 149 463,461 Acceptances 7%9 12,025 19,674 U. S. Government securities 298,750 6,572,610 11,809,083 6,523,912 410,385 1,059,772 26,674,512 H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 9, 1959 Total Boston | New York Philadelphia ASSETS CleveRichmond Atlanta Chicago land (In thousands of d o l l a r s ) 4,683,947 1032,009 1641,224 1072,478 St. Louis Minneapolis Kansas City 907,014 3226,208 714,623 356,856 716,635 633,101 2497,669 175,641 42,642 23,201 964,167 3401,849 757,265 Dallas San Francisco 18,306,143 824,379 926,321 55,518 19,232,464 879,897 F.R. notes of other Banks Other cash 356,879 344,617 35,728 24,616 66,761 61,122 27,363 21,442 13,950 32,522 30,181 21,790 Discounts and advances Acceptances: Bought outright Held under rep. agree. U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 463,461 47,339 63,266 8,186 36,938 6,285 - - 19,536 2,641,700 143,220 10,506,993 569,637 11,010,298 596,923 2,483,771 134,658 26,642,762 1444,430 - 31,750 150,646 228,713 169,300 139,228 457,152 107,438 60,169 599,172 909,674 673,373 553,760 1818,256 427,319 239,318 627,873 953,250 705,628 580,287 1905,354 447,789 250,782 141,639 215,040 159,180 130,905 429,821 101,015 56,573 67704,705 1519,330 2306,677 1707,401 1404,100 4610,503 1003,561 606,042 - — — - - - - 31,750 Total U. S. Govt, sees. 2 6 , 6 7 4 , 5 1 2 1444,438 6,736,455 1519,330 2306,677 1707,481 l4o4,180 4610,583 1083,561 606,842 1148,436 1063,419 3043,110 Total loans & securities 27,157,64-7 1491,777 6,819,395 1527,516 2343,6l§ 1713,766 1482,503 4715,046 1101,917 13*91,235 # 8 4 , 3 6 5 3061,888 Gold c e r t i f i c a t e account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 19,536 138 191,099 84,534 77,079 4,875,046 1091,883 1725,758 1149,557 138 " 59,874 —— - - 1 1 1 877,740 291,585 376,187 399,353 177,759 10,655 43,300 9,778 15,596 11,244 4,428 10,078 4,104 9,332 6,832 8,678 28,389 7,340 19,359 11,310 14,654 11,886 43,160 78,323 104,463 18,356 17,782 42,799 20,946 18,778 23,100 1 26,108 —— - - —— —— —— mm m. - - —- - - »«•* —— —— 2 377,235 691,424 9,602 13,454 10,391 29,713 1 203,508 6,905 7,327 2 / 128,941 5,H5 4,008 113,870 105,44l 301,733 452,904 419,376 1200,098 474,599 439,465 1257, 585 107,063 99,137 283,694 1140,436 1063,419 3043,110 - - - - 1 220,998 4,678 8,473 1 212,508 9,559 7,091 1 482,122 12,479 20,183 51,956,848 2776,402 12,753,446 2973,672 4516,961 3332,724 2939,417 8930,886 2105,822 1178,474 2216,581 2002,763 6229,700 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 86,090 380,057 760,527 662,699 2583,759 664,790 2,644,106 2,770,763 625,046 1 1 / 4 29,598 20,221 - - 329,300 43,892 56,298 62,608 32,910 - - - - 15 4,590,901 96,566 57,153 t H. 4. 1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 9, 1959 St. ClevePhilaRichmond Atlanta Chicago Boston I New York Louis land delphia (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U.S.Treas. -gen . a c c t . 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 dividends TOTAL LIABILITIES 27,770,265 1596,773 6,447,794 1741,551 2541,428 2098,381 1524,716 5280,593 1209,681 610,989 1113,109 802,633 2802,617 17,786,949 369,700 308,311 373,578 18,838,538 748,472 20,972 4,758,237 827,867 1461,876 779,865 983,999 2780,360 638,119 390,654 816,656 901,944 2698,900 54,403 36,065 30,611 27,268 11,615 50,961 15,289 21,120 27,828 20,383 53,185 1,685 7887014 "306,988 5,211,155 3,817,718 305,705 16,885 1/91,527 20,262 27,630 2,121 1,956 886,315 1522,073 15,350 14,429 45,436 4,792 2,171 3,016 827,275 1012,214 2879,773 11,359 1,849 666,616 7,368 1,657 420,799 11,973 2,351 858,808 15,964 30,128 2,193 42,799 940,484 2825,012 678,040 245,933 315,690 326,989 328,282 541,986 170,460 109,145 183,154 182,230 430,104 10,683 2,061 3,941 2,244 1,944 6,516 1,463 1,172 1,570 1,603 4,493 2,295 . . . 39,985 50,466,506 2692/787 12,347,672 2875,860 4383,132 3254,889 2867,156 8708,868 2048,220 1142,105 2156,641 1926,950 6062,226 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased for foreign correspondents Industrial loan commit. 382,658 868,410 239,274 18,975 50,116 14,524 59^07 15,435 76#, 643 21,177 K',8?6 15,851 39*474 13,115 132 A59 37,674 33^7*2 11,113 20^785 6,883 3^935 11,406 10,436 47,073 95,76I 24,640 51,956,848 2776,402 12,753,446 2973,672 4516,961 3332,724 2939,417 8930,886 2105,822 1178,474 2216,581 2002,763 6229,700 71,092 350 3,910 28,606,740 1649,657 F. R. notes outstanding Collat. for F. R. notes: Gold c e r t i f i c a t e a c c t . 10,750,000 580,000 69,242 E l i g i b l e paper U. S. Govt, s e c u r i t i e s 18,960,000 1150,000 Total c o l l a t e r a l 29,779,242 1730,000 1 / After deducting $216,784,000 participations 2 / After deducting $51,248,000 participations 109,852 238,902 57,020 2/19,844 4,693 6,399 3,555 3,342 10,523 2,631 10 1,706 2,773 340 3,697 8,019 FEDERAL RESERVE AGENTS' ACCOUNTS 6,666,481 1788,924 2598,538 2153,269 1592,164 5376,606 1254,616 626,966 1142,313 842,836 2914,370 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 8,140 -— — -18,330 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 6,920,000 1848,140 2670,000 2220,000 1700,000 5500,000 1383,330 of other Federal Reserve Banks. of other Federal Reserve Banks. -42,772 450,000 850,000 650,000 1192,772 575,000 1800,000 865,000 3100,000 .
@FedFRASER