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/ BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I For Immediate Release April 23, 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 d a i l y f i g u r e s of member bank reserves f o r the week ended April 22 increased $119 million t o $18,817 m i l l i o n . Estimated required reserves increased $20 million; and estimated excess reserves increased $99 million t o $612 m i l l i o n . Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $137 million, compared with $190 million the week b e f o r e . The p r i n c i p a l changes supplying average reserves were increases of $314 million in Federal Reserve f l o a t and $46 million in member bank borrowings, and a decrease of $33 million in money 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 $211 million in U. S. Government s e c u r i t i e s held under repurchase agreement and $34 million bought outright, and $31 million in gold stock. Total Reserve Bank c r e d i t increased $115 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, April were $25 million under repurchase were $96 million 22, holdings of U. S. Government s e c u r i t i e s lower than a week e a r l i e r , U. S. Government agreement were $213 million lower, and member 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 Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency outstanding Money 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 ( n e t ) Member bank reserves— 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 Wednesday April 22, April 23, April 22, April 15, 1958 1959 1959 _ 1959 (In millions of d o l l a r s ) +1,807 25,511 33 - 34 -211 30 1 - 1 + 1 + 749 + 46 + 18 1,130 27,472 20, 409 5,254 53,136 31,332 705 456 286 362 1,178 — 25,563 + 25 - 9 1 29 -— 637 18 996 + 18 +314 +115 - 31 + 1 + - 33 - 7 - 15 + 7 247 333 1,178 34,210 18,760 l67lS5 615 + 87 140 +2,618 -1,672 + 61 +1;008 - - 34,319 - 3 - 32 + 715 16 + 39 + 44 14 + 76 + 845 18,817 18,205 612 +119 + 20 + 99 + 163 + 150 + 13 + 19 778 20,331 5, 255 52,970 31,246 710 496 On April 22, 1959, 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 $3,604 million, a decrease of $60 million f o r the -week and an increase of $452 million from the comparable date a foryear ago. Digitized FRASER HtU.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( i n thousands of d o l l a r s ) Change since April 15, April 23, 1958 1959 April 22, 1959 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. n o t e s Total gold c e r t i f i c a t e r e s e r v e s F. R. notes of other Banks Other cash Discounts and advances I n d u s t r i a l loans Acceptances—"bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds Total bought o u t r i g h t Held under repurchase agreement Total U. S. Government s e c u r i t i e s 25,563,362 Total loans and s e c u r i t i e s Due from f o r e i g n banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 26,606,411 15 5,648,727 95,213 202.410 53,109.814 18,829,891 914.228 19,744,119 415,232 397,687 1,014,061 4 28,984 - - + + + 1,562,300 18,649,726 100,001 1 100,002 23,785 5,273 95,860 24,900 2,867,565 2.483,771 25,563,362 L I A B I L I T I E S Federal Reserve n o t e s Deposits: Member bank r e s e r v e s U. S. Treasurer—general account Foreign Other Total d e p o s i t s 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 + 772,006 490 8,444 + 593,690 -1,296,379 +2,867,565 - 305,486 +1,859,390 - 24,900 212.900 237,800 +1,859,390 - 141,938 +2,622,462 - 491,859 + 36 + 12,742 - 691,963 + 726,813 + 8,790 : +1,513,659 26,926,906 - 79,593 + 18,760,018 495,540 247,314 332.949 19,835,821 4,871,108 29,878 - 152,588 3,874 9,948 9,940 176,350 446,937 278 703,158 - CAPITAL ACCOUNTS Capital paid i n Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS -1,783,501 + 66,621 -1,716,880 6l,361 36,146 376,233 868,410 201.458 53.109.814 157 - 11.038 691.963 552,078 204,550 33,274 + 19,891 62,233 + 195,482 + 709,848 + 10,347 +1,467,755 + + + l/+ 25,960 31,669 ±hl21 +1.513 659 Ratio of gold c e r t i f i c a t e r e s e r v e s t o deposit and F. R. note l i a b i l i t i e s combined 42,2% 4.4# Contingent l i a b i l i t y on acceptances purchased f o r f o r e i g n correspondents 56,910 1,182 72,905 I n d u s t r i a l loan commitments 360 647. 1/ Net change a f t e r e l i m i n a t i o n of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 22, 1959 (Acceptances and s e c u r i t i e s held under repurchase agreement a r e c l a s s i f i e d as maturing within 15 days in accordance with maximum m a t u r i t y of t h e 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 991,281 22,714 66 1,014,061 Industrial loans Acceptances 11,102 17,882 T 28,984 U. S. Government securities 415,890 956,010 18,840,126 3,881,179 206,495 1,263,662 25^533^352 H.4.1(b) Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r P. 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 I n d u s t r i a l loans Acceptances— Bought o u t r i g h t U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 22, 1959 ClevePhilaSt. New York delphia Richmond Atlanta Chicago Louis Boston land ( i n thousands of d o l l a r s j 18,829,891 843,532 914,228 55,955 19,744,119 899,487 415,232 397,687 29,141 1,014,061 4 5,012,710 1035,342 1660,341 993,645 191,005 57,597 5,203,715 1092,939 85,227 1745,568 1071,256 953,698 3406,014 22,531 779,191 426,133 42,841 29,306 83,338 787,876 755,400 2622,842 43,461 25,414 76,453 32,851 26,715 66,496 11,388 26,395 10,171 12,443 7,866 13,361 18,435 13,815 4l,4o4 51,637 28,114 269,708 44,022 100,218 97,180 49,677 202,905 31,351 18,892 97,405 61,018 13,571 28,984 1385,918 Total loans & s e c u r i t i e s 26,6o6,4ll 1414,032 53,109,814 43,828 726,094 2539,504 20,568 35,867 25,563,362 TOTAL ASSETS 735,363 403,602 745,035 20,609 18,181 72,086 393,156 89,092 135,261 100,124 1,562,300 84,700 18,649,726 1011,095 4,693,241 1063,519 1614,656 1195,224 721,628 163,526 248,268 183,777 2,867,565 155,465 625,046 141,639 2 1 5 , 0 4 0 1 5 9 , 1 8 0 2,483,771 134,658 25,563,362 1385,918 IT,433,071 1457,77o"2213,225 1038,305 15 5,648,727 95,213 202,410 169,740 San Francisco Dallas 107,034 28,984 Due from foreign hanks Uncollected cash items Bank premises Other a s s e t s 55,249 Kansas City 31,128 Total U. S. Govt, s e e s . 1 82,339 270,360 63,539 35,584 67,343 62,358 178,444 982,915 3227,372 758,484 424,785 803,897 744,385 2130,153 151,132 496,238 116,624 65,315 123,606 114,456 327,530 130,905 429,821 101,015 56,573 107,063 99,137 283,694 1357,29T%423,791 1039,662 582,257 1101,909 1020,3W2919,321 6,433,071 1457,776 2213,225 1638,305 1347,291 4423,791 1039,662 6,731,763 1501,798 2313,443 1735,485 1 / 4 1 1 4,156 11,273 17,663 2818,483 13,191,026 3003,338 4661,739 1396,968 4626,696 582,257 1101,909 1020,336 2919,821 1071,013 601,153 1199,314 1081,354 2933,392 1 1 2 1 2 / 6,938 9,442 11,662 12,675 33,932 6,969 8,368 4,578 3334,562 2987,579 9053,995 2136,096 1209,949 1 l 8,377 8,320 1 568,277 12,515 23,007 2310,908 2149,064 6253,075 428,984 1,016,102 354,381 519,236 439,164 506,504 881,465 232,771 150,262 288,219 263,362 4,601 lit109 10,252 50,070 9,393 1/ A f t e r deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 2/ Less than $500. 77,611 898,449 3236,274 Minneapolis 12,843 5,209 4,743 9,528 I Boston Total CON OF EACH FEDERAL RESERVE BANK ON APRIL 22, 1959St. Cleve- I , PhilaNew York land [Richmond Atlanta Chicago Louis delphia 8 & STATEMENT H.4.1(c) Minneapolis Kansas City Dallas San Francisco 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 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 26,926,906 1564,791 6,278,983 1697,591 2477,154 2024,457 1439,212 5151,162 1193,076 600,159 1089,144 764,248 2646,929 18,760,018 734,657 5,281,766 854,136 1538,268 795,156 992,380 2831,689 649,744 408,456 870,460 1008,474 2794,832 24,120 65,592 20,728 35,215 48,418 23,160 66,452 40,898 25,326 43,036 31,466 71,129 495,540 13,035 1/76,674 15,642 21,330 11,850 11,139 35,076 8,769 5,688 9,243 12,324 26,544 247,314 332,949 525 "283.647 1,303 745 2,984 983 423 1,351 288 820 909 38,971 19,835,821 772,337 5,707,679 891,809 1595,558 858,408 1027,662 2933,640 700,762 439,758 923,559 1053,173 2931,476 4,871,108 398,515 802,163 317,157 455,699 375,011 449,679 749,022 185,363 133,646 239,096 256,168 509,589 29,878 1,647 7,749 51,663,713 2737,290 12,796,574 1,473 2908,030 2,882 1,518 4531,293 3259,394 1,499 4,726 2918,052 8838,550 1,056 1,035 2080,257 1174,598 1,147 1,467 3,679 15,355 32,935 43,436 21,771 45,223 95,761 20,4l8 2252,946 2075,056 6091,673 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. 376,233 868,410 201,458 18,449 50,116 12,628 53,109,814 2818,483 56,910 360 3,130 «»» 108,407 238,902 47,143 22,260 35,816 13,441 17,987 59,607 76,643 16,830 44,846 13,492 19,243 51,659 39,474 132,159 10,810 31,627 12,620 33,746 9,473 8,600 20,785 5,966 9,672 8,801 13,191,026 3003,338 4661,739 3334,562 2987,579 9053,995 2136,096 1209,949 2310,908 2149,064 6253,075 2/15,942 •• 3,755 —— 5,121 20 2,845 »• 2,674 8,421 2,105 1,366 2,219 —— —— —— •» 2,959 6,373 340 *• • FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,918,643 1642,314 6,537,980 1756,463 2533,654 2112,087 1500,095 5252,415 1242,978 615,048 1114,056 807,989 2002,744 Collat. for F. R. notes: Gold c e r t i f i c a t e acct. 10,755,000 580,000 2,920,000 64o,ooo 920,000 700,000 475,000 2000,000 430,000 200,000 300,000 290,000 1300,000 E l i g i b l e paper --— 34,860 -—— — -30,700 —96,719 •* 162,279 U. S. Govt, securities 18,685,000 1150,000 4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,000 Total c o l l a t e r a l 29,602,279 1730,000 6,920,000 1874,860 2670,000 2200,000 1575,000 5500,000 1395,700 625,000 1246,719 865,000 3000,000 JL/ After deducting $170,640,000 part:LCipations of other Federal Reserve Banks. 2/ After deducting $40,968,000 part:Icipations of other Federal Reserve Banks. ,
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