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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release September 17, 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 September l6 increased $13 million to $18,653 million. Estimated required reserves increased $91 million; and estimated excess reserves decreased $78 million to $496 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $563 million, compared with $483 million the week before. The principal change supplying average reserves was an increase of $198 million in Federal Reserve float. The principal offsetting changes were increases of $90 million in money in circulation, $56 million in foreign deposits with Federal Reserve Banks and $32 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $178 million. As of Wednesday, September 16, U. S. Government securities held under repurchase agreement were $124 million higher than a week earlier and member bank borrowings were $34 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 Averages of daily figures Week ended Change from week ended Sept. 16, Sept. 9, Sept. 17, 1959 1958 1959 (In millions of dollars) 26,643 94 20 * 1,059 1 1,017 28,834 19,522 5,274 53,630 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) 32,197 395 421 331 373 1,260 34,977 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. 18,653 18,157 496 20 3 + - + 2 2 _ 2 + + — — + + - 198 178 1 - - + 177 + 90 6 9 56 32 1 164 - + + + + + + - +1,642 + 94 13 91 78 Wednesday, Sept. 16, 1959 26,643 155 11 20 496 1 32 +2,190 -1,417 + 59 + 832 428 l 1,294 28,541 19,522 5,274 53,338 8o4 299 117 66 91 104 751 32,074 394 346 316 383 1,265 34,778 81 222 l4l 18,560 18,295 265 * + - + - + + + + + - On September 16, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,308 million, an increase of $4 million for the week and an increase of $882 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) Change since Sept. 9, Sept. 17, 1959 1958 Sept. 16, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves t • R• notes of other Banks Other cash Discounts and advances Industrial loans 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 26,798,162 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 27,247,308 15 7,010,756 97,783 184,977 54,562,248 1,217 7,218 +2,605,400 27,692,846 - 18,280,142 952,182 19,232,324 426,635 362,450 429,112 + - + 4" - -- 26,001 25,861 140 69,756 17,833 34,349 -- 20,034 1,151,751 78,648 - 1,073,103 + 64,700 6,622 + 221,952 340 + - 498 + 8,867 138 2,641,700 __ 10,506,993 11,010,298 2,483,771 26,642,762 155,400 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 19,604,577 5,716,885 40,242 53,054,550 C A P I T A L A C C O U N T S CapItaTpaid in™ Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 383,034 868,4l0 256,254 54,562,248 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 18,559,539 346,123 316,407 382,508 40.7% m - + 1,727,890 -11, 000,298 +11, 000, 298 — — — - «• - - •» •* + + 123,650 123,650 + 1,727,890 + 155,400 + 1,883,290 + 89,661 + 2,096,035 <M — — +2,419,855 + + + - + + + + 772,590 23,577 + + 8,930 766,039 + 112,680 + 339,006 + 519,080 + 22,666 + 1,623,000 8,096 +1,899,167 257 +2, 588/044 + 376 - — + 16,980 +2,605,400 - - + 622, 118 + 7,608 + 43,254 + 1,753,990 77,419 + 68,768 5 - 742,248 112,286 154,078 40,038 + + + 26,114 59,215 45,661 + 1,753,990 .6$ - 2,324 345 - 3-2f» 9,781 1,026 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 16, 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 422,036 6,928 148 Acceptances 7,069 12,965 U. S . Government securities 525,400 6,485,110 11,793,583 6,523,912 4l0,385 429,112 20,034 1,059,772 26,796,162 H.4.1(b) Total STATEMENT OF CONDIT][ON OF EACH FEDERAL RESERVE1 "BANK 0 T SEPTEMBER1 16, 1959 St. MinneClevePhilaRichmond Atlanta Chicago Boston New York Louis apolis delphia land Kansas City San Dallas Francisco A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 18,280, 142 915,384 4, 267, 417 1114,821 1699,021 1077,841 913,571 3248,100 734,242 378,062 781,023 706,354 2444,306 952,182 58,515 201,080 59,868 85,527 87,062 57,129 175,623 43,633 23,200 43,882 30,594 86,069 19,232,324 973,899 4,468,497 1174,689 1784,548 1164,903 970,700 3423,723 777,875 401,262 824,905 736,948 2530,375 F.R. notes of other Banks Other cash 426,635 44,079 26,275 82,583 62,716 30,003 16,487 38,541 24,740 32,423 57,588 28,844 11,354 28,540 7,534 11,503 23,979 16,578 14,235 48,965 50,280 Discounts and advances Acceptances-Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 429,112 36,789 117,796 17,541 10,663 4,585 67,323 97,159 4,876 17,632 21,224 20,846 12,678 362,450 20,034 2,641,700 143,220 21,632 34,420 56,682 19,104 20,034 664,790 150,646 228,713 169,300 139,228 457,152 107,438 60,169 113,870 105,441 301,733 10,506,993 569,637 2,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 239,318 452,904 419,376 1200,098 11,010,298 596,923 2,770,763 627,873 953,250 705,628 580,287 1905,354 447,789 250,782 474,599 439,465 1257,585 2,483,771 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 26,642,762 1444^438 6,704*70$ 1519^330 2306,677 1707,401 1404,100 46io,5«3 1003,561 6oo,o4z n4e,43b 1063,4iy 3043,110 155,400 155,400 Total U. S. Govt, sees. 26,798,162 1444,438 6.860,105 1519.110 2106.677 1707.481 l404.l80 4610.58% 1083.561 606.842 1148.436 1061.419 3043,110 Total loans & securities 27,247,308 1481,227 6,997,935 1536,871 2317,340 1712,066 1471,503 4707,742 1088,437 624,474 1169,660 1084,265 3055,788 Due from foreign banks Uncollected cash items Bank premises Other assets 1 1 / 4 1 1 1 1 2 1 2 / 1 1 1 15 7,010,756 491,032 1,353,713 399,777 624,818 550,066 "581,523 1154,641 300,929 192,451 321,509 323,285 717,012 10,078 4,104 9,323 6,832 9,602 13,903 7,190 5,115 4,678 10,051 12,479 97,783 4,428 45,607 10.118 16.047 11.758 10.894 11.127 7.4o8 4,218 8.880 7.712 21,045 184,977 9.96% TOTAL ASSETS 54,562,248 3030,904 13,021,133 3177,395 4802,984 3508,907 3133,328 9417,570 2212,298 1263,594 2365,115 2193,075 6435,945 1/ After deducting $11,000 participations of other Federal Reserve Banks." 2/ Less than $500. 2.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 16, 1959 ClevePhilaSt. MinneBoston New York delphia land Richmond Atlanta Chicago Louis apolis (In thousands of dollars) 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 Kansas City San Dallas Francisco 27,692,846 1589,715 6,425,247 1733,762 2541,144 2103,799 1516,914 5278,582 1208,204 610,105 1107,424 804,072 2773,87 18,559,539 912,141 4,761,993 967,808 1520,443 346,123 18,790 56,964 10,706 32,400 316,407 17,435 1/88,167 20,922 28,530 382,508 568 "320,631 1,724 1,250 19,604,577 948,934 5,227,755 1001,160 1582,623 5,716,885 405,429 826,651 993,166 2875,171 658,727 420,557 887,726 983,307 2751,847 20,355 22,669 30,945 39,847 19,223 31,120 25,724 37,380 15,850 14,899 46,916 11,729 7,608 12,363 16,484 35,504 4,373 l,4oo 829 2,142 259 1,454 1,019 46,859 867,229 1032,134 2953,861 712,445 447,647 932,665 1026,534 2871,590 945,530 341,782 540,426 456,898 509,108 953,981 232,058 167,856 262,863 284,239 616,715 40,242 2,347 12,027 1,902 3,460 2,099 1,991 6,104 1,374 1,267 1,512 1,740 4,419 53,054,550 2946,425 12,610,559 3078,606 4667,653 3430,025 3060,147 9192,528 2154,081 1226,875 2304,464 2116,585 6266,60 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. 383,034 18,928 868,410 50,116 256,254 15,435 110,153 238,902 61,519 22,773 36,046 17,151 19,707 52,183 12,744 59,607 76,643 44,846 39,474 132,159 33,746 16,409 22,642 16,885 14,000 40,700 11,727 8,701 20,785 7,233 15,615 32,935 12,101 21,960 43,436 11,094 47,073 95,761 26,509 54,562,248 3030,904 13,021,133 3177,395 4802,984 3508,907 3133,328 9417,570 2212,298 1263,594 2365,115 2193,075 6435,9 68,768 5 3,784 2/19,232 4,541 6,192 3,440 3,233 10,182 2,546 1,651 2,683 3,578 7,706 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,693,019 1654,909 6,696,151 1787,911 2598,391 2168,585 1592,847 5386,297 1259,741 625,793 1140,856850,831 2930,707 Collat. for F. R. notes: Gold certificate acct. 10,700,000 530,000 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 43,542 -—— 17,495 —---4,850 21,197 19,010,000 1200,000 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 575,000 1800,000 U. S. Govt, securities Total collateral 29,753,542 1730,000 6,920,000 1857,495 2670,000 2220,000 1700,000 5500,000 1369,850 650,000 1171,197 865,000 3100,000 l/ After deducting $228,240,000 participations of other Federal Reserve Banks, 2/ After deducting $49,536,000 participations of other Federal Reserve Banks.
@FedFRASER