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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release September 1% i960 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of total member tank reserves held during the week ended September 14 increased $211 million to $1.8, 573 million; cash allowed as reserves increased $142 million and member bank reserve balances at the Federal Reserve Banks increased $69 million. Estimated required reserves increased $13 million; and estimated excess reserves increased $198 million to $864 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $565 million, compared with the revised figure of $405 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $203 million in Federal Reserve float and $38 million in member bank borrowings, and decreases of $37 million in "other11 F. R. accounts (net), $29 million in foreign deposits with Federal Reserve Banks, and $26 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $117 million in currency in circulation,and decreases of $135 million in Federal Reserve holdings of U. S. Government securities and $24 million in gold stock. Total Reserve Bank credit increased $107 million. As of bought outright securities held borrowings were Wednesday, September 14, holdings of U. S. Government securities were $64 million lower than a week earlier, U. S. Government under repurchase agreement were $82 million lower, and member bank $40 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) * Less than $500,000. Averages of daily figures Week ended Change from week ended Sept. 14, Sept. 7, I Sept. 16, I960 I960 1959 (In millions of dollars) 26,524 125 33 — — -116 - 19 — - - 119 31 + 13 - * 1 299 2 1,064 28,048 18,975 1 5,374 52,397 + 38 + 1 +203 +107 - 24 32,291 401 465 204 386 974 34,721 +117 + 2 - 12 - 29 - 26 17,676 897 18,573 17,709 864 + + 2 +~B6 - 37 + 16 + 69 +142 +211 + 13 +198 Wednesday Sept. 14, I960 26,577 32 •» — 760 1 47 786 547 + .100 -1,233 135 2 1, 227 27,972 18,939 5,375 52,285 94 286 256 32,220 401 431 224 371 929 34,576 977 897 17,709 897 - + + + + + - + - - + - + 6 44 127 13 80 461 381 WZoS 17,792 8l4 On September 14, i960, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $5,371 million, a decrease of $50 million for the week and an increase of $1,063 million from the comparable date a year ago. H.U.l(ei) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Sept. 16> Sept. 7, Sept• 14, I960 I960 ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 17,675,642 971,648 18,647,290 - 4- 1959 54,998 1,348 53,650 + - 3 , 8 7 8 + 29,754 F. R. notes of other Banks Other cash 422,757 392,204 4- 42,608 + 4,294 Discounts and advances 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 136,537 - 3 2 , 1 1 0 4- 2, 575,507 14,006,993 7,510,298 2,483,771 25757^5^9 - 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 - - 146,000 - 186,132 + 913 + 17,193 +1,628,297 + + 593,409 8,640 59,430 - l j + +1,803,071 387,037 86,634 29,277 52,975,659 + 5,422 + 324,256 +1,412,982 l, 466 +1,688,684 1—I 63,040 66,193 155,400 221,593 - - + 402,093 774,808 1 2 , 0 7 6 502,092 - 0\ Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents - 8 2 , 1 0 0 + CAPITAL ACCOUNTS — Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 63,900 - 17,709, 349 430,902 51,735,718 292,575 66,193 +3;,500,000 - 47,090 4o,001 + - 3 , 5 0 0 , 0 0 0 - 370,651 18,734,965 5,190,762 - 19,466 585,034 - - 27,769,990 224,063 - 6o4,500 VI 00 26,745,216 15 6,417,347 106,423 244,407 52,975,659 63,900 — — 26,576,569 Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 40,135 3 - — •» 6 0 , 4 7 8 +1, 628,297 kO.lfo 1 9 8 , 8 7 2 - 77,144 8 5 0 , 1 9 0 + - 84,779 92,344 11,857 869,612 526,123 241 -1,318,832 + 19,059 93,602 - 193,214 -1,586,589 .6# .4# 3,821 + 1 3 0 , 1 0 4 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER l4, i960 (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 131,50k 4,983 50 Acceptances 9,667 22, 443 U. S. Government securities 387,096 6,326,951 12,726,018 5,686,64 7 1 , 1 7 8 , 5 7 4 271,283 136,537 3 2 , 1 1 0 26,576,569 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 14, i960 St. ClevePhilaRichmond Atlanta Chicago New York Boston Louis delphia land (In thousands of dollars) E.4.1M Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 17,675,642 848,841 4,823,371 59,492 214,520 18,647,290 908,333 5,037,891 971,648 992,813 1537,522 1031,329 58,577 87,558 79,984 833,267 3109,316 61,546 177,906 697,701 43,689 Minneapolis Kansas City San Francisco Dallas 364,536 735,453 631,227 2070,266 26,589 45,097 32,396 1051,390 1625,080 1111,313 894,813 3287,222 741, 390 391,125 780,550 663,623 2154,560 F.R. notes of other Banks Other cash 422,757 392,204 49,456 27,710 89,153 74,372 36,892 19,337 11,445 36,555 27,299 22,308 64,589 30,46l 24,126 64,273 13,879 21,006 21,941 8,571 17,669 13,388 14,787 15,817 Discounts and advances Acceptances: Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 136,537 7,973 20,660 1,778 3,338 7,340 23,054 41,931 1,366 3,166 12,571 12,879 -Total U. S. Govt, sees. Total loans & securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 32,110 32,110 2,575,507 138,408 14,006,993 752,736 7,510,298 403,603 2,483,771 133,478 26,576,569 1428^225 84,294 — «• - - — — - - - - 481 -- 642,414 147,463 221,280 163,017 l4l, 217 440,819 104,095 59,764 110,543 103,793 302,694 801,984 1203,439 886,573 768,017 2397,409 566,121 325,032 601,194 564,482 1646,214 430,010 645,262 475,364 4 n , 798 1285,447 303,543 174,277 322,350 302,665 882,670 619,532 142,211 213,398 157,210 136,188 425,117 100,386 57,636 106,606 100,096 291,913 6,629] 647 1521', 668 2283,379 1682,164 1457,220 4540,792 1074,145 616,709 1140,693 1071,036 3123,491 3,493,792 1,873,309 26,576,569 1428,225 6,629,047 1521,668 2283,379 1682,164 1457,220 4548,792 1074,145 616,709 1140,693 1071,036 3123,491 26,745,216 15 6,417,347 106,423 244,407 1436,198 6,681,817 1523,446 2286,717 1689,504 1480,274 4590,723 1075,511 619,875 1153,264 1083,915 3123,972 1 1 / 4 395,244 1,123,891 4,051 9,547 13,028 60,162 52,975,659 2834,021 1 1 1 374,951 546,874 8,833 21,509 535,313 6,295 15,458 3,861 13,833 1 2 505,342 1086,137 10,802 20,965 14,191 40,992 (2) 1 302,8o4 202,714 4,927 6,738 5,673 9,802 338,150 5,094 10,861 (2) 1 2 301,492 704,435 13,595 11,715 10.022 28,876 13,076,837 3023,711 4537,014 3407,491 3000,473 9114,440 2171,130 1254,826 2318,977 2103,252 6133,487 1/ After deducting $11,000 participations of other Federal Reserve Banks 2/ Less than $500. H.4.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER l 4 , i960 PhilaCleveSt. MinneBoston New York delphia land Richmond Atlanta Chicago Louis apolis Kansas City Dallas San Francisco 1 1 2 7 , 3 0 7 8 1 2 , 6 0 1 2 7 5 7 , 7 9 2 8 2 8 , 5 4 6 904,803 2 5 2 9 , 6 1 4 8 , 7 7 4 1 2 , 4 1 2 2 6 , 3 2 2 2,574 666 9^9,787 LIABILITIES 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 27,769,990 6,442,929 1 6 0 0 , 5 6 6 17,709,349 813,422 430,902 2 6 , 5 8 7 224,063 10,486 5 , 0 0 5 , 1 2 9 65,084 1 / 7 1 , 0 5 3 1 7 8 7 , 2 1 4 2523,497 2108,075 1583,794 5236,534 1194,192 595>89 826,853 1369,370 7^4,205 882,579 2731,898 2 0 , 0 9 3 35,750 46,636 26,973 6 7 , 9 2 1 1 2 , 6 2 6 2 0 , 1 1 6 9 , 6 3 0 1 1 , 1 2 8 2 9 , 5 3 2 0 370,651 18,734,955 403 308,815 1 , 6 0 0 628 4 , 7 5 6 1 , 0 6 7 727 8 5 0 , 8 9 8 5 , 4 5 0 , 0 8 1 8 5 1 , 1 7 2 1 4 2 5 , 8 6 4 8 0 5 , 2 2 7 9 2 1 , 7 4 7 2 8 3 0 , 0 / 8 5,190,762 3 1 8 , 7 2 8 8 2 2 , 7 7 8 40/001 51,735,718 2 , 3 6 2 2 7 7 2 , 5 5 4 9 , 9 8 4 301,095 469,127 434,769 427,105 2 , 0 0 5 3 , 8 6 5 2 , 3 2 4 2 , 1 1 3 8 6 7 , 9 6 1 6 , 1 7 7 643,150 4 2 9 , 7 8 0 3 1 , 6 2 9 2 2 , 6 6 5 7,062 4 , 9 2 2 1,376 683,217 522 457,889 33,322 8 7 3 , 2 1 b 31,906 2 2 , 3 3 6 47,517 2 6 2 5 , 7 8 9 250,575 171,582 264,483 268,4o6 594,153 1,565 1 , 4 2 3 1 , 7 0 6 1 , 7 6 7 127725,772 295l~5S6 4422,353 3350,395 2934,75 9 89^0,750 2129,5W1226,383"22567712'2032,561 4 , 7 1 0 5982,444 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 402,093 774,808 63,o4o 52,975,659 198,872 19,930 38,332 113,945 220,905 3 , 2 0 5 1 6 , 2 1 5 23,446 45,638 3,l4l 2 8 3 4 , 0 2 1 1 3 , 0 7 6 , 8 3 7 3 0 2 3 , 7 1 1 9,746 2 / 5 6 , 6 5 9 11,735 37,295 72,530 4 , 8 3 6 4 5 3 7 , 0 1 4 1 8 , 6 9 6 1 8 , 3 6 7 34,566 4 , 1 6 3 21,324 55,931 40,306 107,334 4,084 1 0 , 4 2 5 3407,491 3000,473 8,950 10,3^3 9-114,440 27,448 13,458 9 , 2 4 4 2 , 2 6 1 1 , 6 1 9 2171,130 1 2 5 4 , 8 2 6 2318,977 6,564 17,580 1 6 , 9 5 6 31,720 3,589 25,862 4,575 8,155 23,133 4 9 , 0 6 4 2,913 6 , 5 8 9 44,645 2103,252 11,536 95,390 6133,487 24,465 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,812,232 1676,785 Collat. for F. R. notes: Gold certificate acct. 10,490,000 530,000 Eligible paper 15,449 U. S. Govt. securities 19,365,000 1250,000 Total collateral =9,870,449 1780,000 7 1/ After deducting § 1 5 3 , 0 1 0 , 0 0 0 participations 2/ After deducting $142,213,000 participations 6 , 6 8 1 , 1 9 0 2 , 8 0 0 , 0 0 0 1826,6o4 2641,707 7 0 0 , 0 0 0 9 2 0 , 0 0 0 2179,533 700,000 1648,983 5347,954 5 0 0 , 0 0 0 1 9 0 0 , 0 0 0 1237,680 4io,oco 6 5 4 , 9 7 0 1 1 5 8 , 0 6 8 1 8 0 , 0 0 0 3 0 0 , 0 0 0 8 5 3 , 3 3 0 2905,428 2 5 0 , 0 0 0 1300,000 —— 12,489 — —— 4,000,000 1 2 0 0 , 0 0 0 1750,000 1525,000 1200,000 3700,000 935,000 510,000 870,000 625,000 1800,000 6,800,000 1901,660 2670,000 2225,000 1700,000 5600,000 1346,300 690,000 1182,489 875,000 3100,000 of other Federal Reserve Banks, of other Federal Reserve Banks. —— 1 , 0 6 0 —— —- •— —— 1 , 3 0 0
@FedFRASER