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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release September 29, 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 d a i l y f i g u r e s of t o t a l member hank reserves held during the week ended September 28 increased a net of $49 million t o $18,683 million; cash allowed as reserves increased $107 million and member bank reserve balances at the Federal Reserve Banks decreased $58 m i l l i o n . Estimated required reserves decreased $46 million; and estimated excess reserves increased $95 million t o $608 m i l l i o n . Excess reserves exceeded member bank borrowings a t the Federal Reserve Banks by $383 million, compared with the revised f i g u r e of $4-34 million the week b e f o r e . The p r i n c i p a l changes supplying average reserve balances with Federal Reserve Banks were an increase of $146 million in member bank borrowings and a decrease of $167 million in currency in c i r c u l a t i o n . The p r i n c i p a l o f f s e t t i n g changes were decreases of $285 million in Federal Reserve f l o a t and $97 million in gold stock. Total Reserve Bank credit decreased $130 m i l l i o n . As of bought outright s e c u r i t i e s held bank borrowings Wednesday, September 28, holdings of U. S. Government s e c u r i t i e s were $291 million higher than a week e a r l i e r , U. S. Government under repurchase agreement were $107 million higher, and member were $522 million higher. Member bank reserves, Reserve Bank c r e d i t , and r e l a t e d items Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s - Bought outright--System account Held under repurchase agreement Acceptances—bought outright Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Currency in c i r c u l a t i o n 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 d a i l y f i g u r e s Week ended Change from week ended Sept. 21, I Sept. 30, Sept. 28, i960 1959 I960 (In millions of d o l l a r s ) 26,456 83 34 - 39 + 37 -- 225 19 1,242 28,059 18,731 5,375 52,164 +146 + 12 32,004 399 579 200 378 934 34,494 -167 17,671 1,012 18,075 608 -285 -130 - 97 - 1 -228 - 4 + 28 - 24 - 1 - 2 -170 - 58 +107 + 49 - 46 + 95 - + + - + + - - 107 83 14 26,673 107 33 496 18 144 344 593 24 987 762 88 -1,019 + + + - - - 193 11 102 110 25 262 295 723 +1,012 + - + Wednesday Sept. 28, I960 289 99 388 28,417 18,697 5,375 52,490 31,972 4o4 554 184 382 936 34,432 18,058 1,012 19,070 18,072 998 On September 28, i960, U. S. Government s e c u r i t i e s held in custody by the Federal. Reserve Banks f o r foreign account were $5,494 million, an increase of $91 million f o r the week and an increase of $1,148 million from the comparable date a year ago. H.4.1(a) STATEMENT 0^ COAlTIbN OF THE TWELVE FEDERAL p S W t i BANKS COMBINED (in thoui^MI Of d o l l a r s ) Change since Sept. 21, Sept. 30, I960 1959 Sept. 28, I960 ASSETS Gold c e r t i f i c a t e - a c c o u n t Redemptibn fitnd f o r F. R. notes Total gold c e r t i f i c a t e reserves 17,426,643 977,129 18,403,772 - - 60,297 F. R. notes of other Banks Other cash 487,132 404,237 + + 15,419 3,119 + + 3,563 20,745 Discounts and advances Acceptance s--bought outright 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 617,409 + + 527,827 999 + + 287,377 13,074 2,672,047 14,006,993 7,510,298 2,483,771 26,673,109 106,500 26,779,609 + 291,000 Total loans and s e c u r i t i e s Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS 27,430,127 15 5,619,753 106,453 272,630 52,724,119 27,598,285 - 18,058,191 554,395 183,956 381,594 19,178,136 4,632,855 41,245 51,450,521 402,736 774,808 96,054 52,724,119 + - 16,488 631,521 - 39-3# - .7# - 205,093 + 92 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 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 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 33,109 59,997 300 - + - 803,501 4,244 799,257 + 109,797 3j,500,000 —— + - - .3,500,000 - - - - + + + 291,000 106,500 397,500 + + + 109,797 106,500 216,297 + 926,326 + 516,748 -1,533,513 187 + 17,612 631,521 + + + 182,422 8,811 52,331 14,637 68,833 + 82,943 + 717,679 20,771 13,916 + 3,199 + 686,191 -1,267,458 + 1,716 + - - 298,377 149,l4l 127,877 - - - - - 6m, m 375 - - + + + + - + + 66,162 44,803 146,720 1,439 186,299 19,370 93,602 126,704 14,637 1-836 138,514 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 28, i960 (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 within 15 days in 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 592,983 23,284 l,l42 — --617,409 Acceptances 6,312 26,797 -— --33,109 U. S. Government securities 507,276 6,376,311 12,759,518 5,686,647 1,178,574 271,283 26,779,609 STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 28, i960 MinneSt. ClevePhilaRichmond Atlanta Chicago Louis Boston New York delphia apolis land (In thousands of d o l l a r s ) E.4.1(b) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves Kansas City San Francisco Dallas 17,426,643 779,901 4,902,416 994,451 1461,740 1012,824 813,840 3030,968 643,645 318,089 679,203 585,795 2203,771 977,129 59,209 18,403,772 839,110 213,524 58,147 87,117 61,103 177,367 79,259 43,548 26,519 44,985 32,318 94,033 5,115,940 1052,598 1548,857 1092,083 874,943 3208,335 687,193 344,608 724,188 618,113 2297,804 F.R. notes of other Banks Other cash 487,132 4o4,237 62,896 28,497 100,181 71,897 41,968 15,912 26,513 67,830 30,721 16,137 27,216 20,021 14,300 19,215 15,278 58,522 67,383 Discounts and advances Acceptances: Bought outright U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 617,409 11,381 104,525 3,761 63,686 24,355 36,818 207,295 22,752 30,898 41,684 45,667 24,587 666,494 152,991 143,596 752,736 3,493,792 801,984 403,603 1,873,309 430,010 619,532 142,211 133,478 1433,413 6,653,127 1527,196 229,575 1203,439 645,262 213,398 2291,674 169,127 886,573 475,364 157,210 1608,274 106,500 36,313 23,179 33,582 64,647 20,842 8,767 33,109 33,109 2,672,047 14,006,993 7,510,298 2,483,771 26,673,109 19,552 —— 106 j 500 —— —— 146,510 457,343 107,997 62,004 114,687 768,017 2397,409 566,121 325,032 601,194 411,798 1285,447 303,543 174,277 322,350 107,683 314, O4O 564,482 1646,214 302,665 882,670 136,188 425,117 100,386 57,636 106,606 100,096 291,913 1462,513 4565,316 1078,047 618,949 1144,837 1074,926 3134,837 -— —— —— —— —— —— Total U. S. Govt, sees. 26,779,609 1433,413 6,759,627 1527,196 2291,674 1688,274 1462,513 4565,316 1078,047 Total loans & s e c u r i t i e s 27,430,127 1444,794 6,897,261 1530,957 2355,360 1712,629 1499,331 4772,611 1100,799 649,847 1186,521 1120,593 3159,424 Due from foreign banks Cash items in process of c o l l e c t i o n Bank premises Other a s s e t s TOTAL ASSETS 15 5,619,753 106,453 272,630 1 1/4 1 381,590 1,062,304 316,030 4,017 9,547 3,838 14,793 67,071 15,469 1 1 1 2 (2) 618,949 1144,837 1074,926 3134,837 (2) 1 1 2 470,489 449,783 417,785 900,323 245,043 169,826 299,739 276,084 630,757 8,800 6,249 10,769 21,213 6,752 4,904 5,094 13,599 11,671 23,904 17,206 15,657 45,722 10,900 6,336 12,028 11,325 32,219 52,724,119 2775,698 13,324,205 2980,413 4459,636 3327,643 2919,898 9043,574 2087,666 1211,504 2261,892 2074,208 6257,782 1/ After deducting $lT%000 p a r t i c i p a t i o n s 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 y.S.Treas.-gen.acct. Foreiga Other T o t a l 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 28, I960 MinneSt. PhilaCleve- Richmond Atlanta Chicago Boston New York apolis Louis delphia land (In thousands of dollars) 27,598,285 1586,593 6,408,490 1780,137 2508,934 2114,043 1571,032 5202,592 1185,810 Kansas City Dallas San Franciscc 591,673 1118,172 809,860 2720,949 18,058,191 745,001 5,253,990 800,794 1379,667 723,957 872,865 2805,633 630,315 416,943 802,439 908,955 2717,632 25,546 47,730 31,987 68,836 44,374 33,981 70,415 20,530 105,948 43,031 35,463 26,554 554,395 4,071 7,257 10,266 21,771 5,841 7,965 9,204 24,426 10,443 16,638 1/57,401 8,673 183,956 164 197 4,190 575 44,962 4,235 969 650 321,627 1,709 994 1,322 381,594 19,178,136 781,550 5,738,966 855,977 1432,762 780,531 917,019 2901,124 656,850 446,757 861,616 951,783 2853,201 4,632,855 342,479 806,359 268,085 396,504 371,582 362,018 753,949 200,548 142,587 226,618 238,596 523,530 1,898 10,769 2,056 3,888 2,345 2,170 6,321 1,606 1,333 1,798 1,974 5,087 41,245 51,450,521 2712,520 12,964,584 2906,255 4342,088 3268,501 2852,239 8863,986 2044,814 1182,350 2208,204 2002,213 6102,767 CAPITAL ACCOUNTS jfiapxtal-paid i n Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Canting, l i a b . on acceptances purchased f o r foreign correspondents 402,736 774,808 96,054 19,971 38,332 4,875 113,990 220,905 24,726 23,479 45,638 5,0^1 37,333 72,530 7,685 18,378 34,566 6,198 21,525 40,306 5,828 55,968 107,334 16,286 13,472 25,862 3,518 9,259 17,580 2,315 17,044 31,720 4,924 23,151 44,645 4,199 49,l66 95,390 10,459 52,724,119 2775,698 13,324,205 2980,413 4459,636 3327,643 2919,898 9043,574 2087,666 1211,504 2261,892 2074,208 6257,782 205,093 10,050 2/58,447 12,101 19,279 9,230 10,665 28,304 6,768 4,717 8,409 11,896 25,227 FEDERAL RESERVE AGENTS' ACCOUNTS 28,791,823|l677,234 6,684,768 1826,690 2631,753 2184,999 F . R- motes outstanding C o l l a t . f o r F . R. notes: . Gold c e r t i f i c a t e a c c t . 10,300,000 530,000 2,800,000 700,000 920,000 700,000 65,670 — — 2,64o — — E l i g i b l e paper 19,565,000 1250,000 4,000,000 1200,000 1750,000 1525,000 tJ. S . Govt, s e c u r i t i e s 29~9307^76 1780^000 "67800,000 1902,640 2670,000 2225,000 Total c o l l a t e r a l 1 / A f t e r deducting $126,555,000 p a r t i c i p a t i o n s of other Federal Reserve Banks, 2 / A f t e r deducting $146,646,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 1637,747 5323,443 1241,431 671,643 1153,511 855,310 2903,294 500,000 1900,000 410,000 180,000 300,000 260,000 1100,000 — — 22,125 — 40,905 1200,000 3700,000 935,ooo 510,000 870,000 625,000 2000,000 1700,000 5600,000 1367,125 690,000 1210,905 885,000 3100,000
@FedFRASER