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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.U.I For Immediate Release August 13, 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 August 12 decreased $7'+ million to $18,622 million. Estimated required reserves decreased $223 million; and estimated excess reserves increased $149 million to $577 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $496 million, compared with $606 million the week "before. The principal changes reducing average reserves were increases of $146 million in money in circulation and $37 million in "other" F. R. accounts (net), and a decrease of $101 million in U, S. Government securities held under repurchase agreement. The principal offsetting changes were increases of $157 million in U. S. Government securities bought outright and $39 million in member bank borrowings, and a decrease of $28 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $74 million. As of bought outright securities held bank borrowings Wednesday, August 12, holdings of U. S. Government securities were $79 million higher than a week earlier, U. S. Government under repurchase agreement were $34 million lower, and member were $39 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 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 August 13, August 12, August 5, August 12, 1958 1959 1959 1959 (In millions of dollars) 26, 597 8 24 +157 -101 - 1 + 1,073 + 39 + 771 28,473 19,619 5,282 53,373 - 19 + 74 - 7 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) 32,071 401 475 257 343 1,203 3^,751 +l46 - 5 - 28 - 20 + 3 + 37 +134 Member bank reserves-Required reserves (estimated) 3xcess reserves (estimated) * L e s s than $500,000. 18,622 18,045 577 - 74 -223 +149 - 6 + 60 971 12 12 26,597 2 22 844 591 3 +1,788 -1,535 + 72 + 325 741 27,953 19,600 5,282 527835 + 780 298 29 43 14 37 462 32,048 4oi 514 275 368 1,203 34,809 138 28 110 18,026 18,005 21 - * - - + + + - On August 12, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,171 million, an increase of $13 million for the week and an increase of $859 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since August 5, August 13, 1959 1958 August 12, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 18,371,142 932,755 19,303,897 353,404 377,453 591,264 - + - - - 22,247 2,595,700 10,506,993 11,010,298 2,483,771 2675937762 1,500 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve notesDeposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid In" Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 25,000 1,320,750 1,509 + 70,771 26,509 - 1,249,979 l, 415 + 3,154 + 39,456 + — - 2,253 - 79,300 — — — W + 26,598,262 + 79,300 34,400 44,900 27,211,773 15 5,391,342 96,185 209,989 + 3,191 + 52,944,058 + 27,601,174 + 18,026,342 514,362 + 274,989 367,875 19,183,568 4,650,121 38,861 51,473,724 + + + 381,028 + 868,410 220,896 52,944,058 - + - 8,671 409,445 342 10,343 + 1,077,390 -11,000,298 +11.000,298 + 1,077,390 + 1,500 + 1,078,890 + 1,477,650 - - + + 10,449 — «* 581,900 + 29 + 17,436 + 574,308 4- 232,573 6,306 44,929 530,599 + 719,796 210,153 127,451 + 2,076 33,808 + 50,970 554,022 + 1,983 + 557,244 + 561,009 52,209 156 + l/+ + 16,908 + 4" 574,308 + 31,451 51,935 46,126 535,367 256,755 23,084 464,268 26,045 31,669 8,617 530,599 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.3$ -2.8$ Contingent liability on acceptances purchased for foreign correspondents 70,798 2,221 35,254 Industrial loan commitments 355 -686 1/ Net change after elimination of Sec. 13b surplus of $27, 543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 12, 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 583,153 7,891 220 Acceptances 5,317 16,930 U. S. Government securities 466,050 1,288,550 11,349,593 12,023,912 410,385 591,264 22,247 1,059,772 26,598,262 H.4.1(h) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDIT][ON OF EACH FEDERAL RESERVE BANK ON AUGUST 12, 1959 St. PhilaCleveBoston New York Richmond Atlanta Chicago delphia Louis land (In thousands of dollars) Minneapolis Kansas City Dallas 709,719 406,399 725,908 633,462 2376,440 176,254 42,825 23,370 44,030 29,707 86,429 953,647 3418,746 752,544 429,769 769,938 663,169 2462,869 4,850,535 1037,262 1601,942 1038,001 896,026 3242,492 San Francisco 18,371,142 852,956 932,755 55,878 19,303,897 908,834 F.R. notes of other Banks Other cash 353,404 377,453 36,636 69,952 68,04l 30,017 23,240 10,382 30,676 56,168 8,438 23,819 56,011 37,511 24,836 25,863 24,744 19,532 9,715 20,251 12,552 12,382 12,651 34,291 50,194 Discounts and advances Acceptances— Bought outright U. S. Govt. securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 591,264 36,425 64,855 12,990 100,295 31,808 56,180 137,112 13,150 14,369 53,145 40,335 30,600 — — 22,247 -- — — «• - — — 22,247 2,595,700 10,506,993 11,010,298 26,596,762 1,500 140,726 569,637 596,923 134,658 1441,944 -- 192,595 60,417 85,079 78,550 5,043,130 1097,679 1687,021 1116,551 653,213 148,023 2,644,106 599,172 2,770,763 627,873 625,046 141,639 6,693,128 1516,707 1, 500 32,955 -- -- 57,621 M— - - 224,731 166,352 136,804 449,192 909,674 673,373 553,760 1818,256 953,250 705,628 580,287 1905,354 215,040 ,159,180 130,905 429,821 2302,695 1704,533 1401,756 4602,623 105,567 59,121 111,887 103,605 296,479 427,319 239,318 452,904 419,376 1200,098 447,789 250,782 474,599 439,465 1257,585 107,063 99,137 283,694 101,011 1081, ($0 "?05,'794 1146,453 1061,583 3037,856 " Total U. S. Govt, sees. 26,598,262 1441,944 6,694,628 1516,707 2302,695 1704,533 1401,756 4602,623 1081,690 605,794 1146,453 1061,583 3037,856 Total loans & securities 27,211,773 1478,369 6,781,730 1529,697 2402,990 1736,341 1457,936 4739,735 1094,840 620,163 1199,598 1101,918 3068,456 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 5,391,3^2 96,185 209,989 52,944,058 1 374,154 4,463 11,104 1/4 9567993 10,115 51.559 1 336,008 4,125 11,614 1 462,170 9,347 18,276 1 502,946 9,636 12,018 2 836,413 13,214 35,821 1 235,089 6,943 8,581 2 / 158,720 5,141 4,734 1 258,739 4,687 9,904 1 260,703 9,107 8,426 1 565,199 12,530 24,655 2839,424 12,981,524 3032,381 4623,142 3371,770 3029,706 9124,935 2131,180 1247,774 2275,670 2068,357 6218,195 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 444,208 6,877 13,297 H.4.1(c) 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 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 12, 1959 St. ClevePhilaRichmond Atlanta Chicago New York Boston Louis land delphia (In thousands of dollars) 27,601,174 1598,983 6,392,071 1745,247 2546,973 2066,599 1513,044 5264,278 1206,047 Minneapolis Kansas City Dallas San Francisco 612,656 1111,775 790,050 2753,451 18,026,342 764,774 4,937,392 852,770 1454,444 789,135 956,348 2796,938 633,657 419,434 841,775 924,312 2655,363 27,007 89,764 22,928 41,229 40,452 33,454 66,512 30,626 31,866 36,062 28,561 65,901 53.4,362 10,569 14,092 30,352 10,027 6,504 12,737 40,108 14,905 1/79,869 17,886 24,390 13,550 274,989 1.198 871 44.001 599 586 1.538 527 398 312,409 1,581 1.148 2,819 367,875 807,084 5,419,434 895,165 1521,211 845,956 1004,077 2904,085 674,909 458,390 889,8o4 967,836 2795,617 19,183,568 4,650,121 348,562 759,569 293,064 419,125 380,334 439,512 731,373 191,914 139,207 213,242 233,735 500,484 2,286 9,628 2,0623,734 2,324 1,980 6,360 1,415 1,556 1,645 1,659 4,212 51,473,724 2756,915 12,580,702 2935,538 4491,043 3295,213 2958,613 8906,096 2074,285 1211,809 2216,466 1993,280 6053,764 38,861 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. 381,028 868,410 220,896 18,967 50,116 13.426 109,747 238,902 22,755 52,173 35,992 % Mi 17,114 44,846 14,597 19,637 52,116 12,722 33,746 10,427 8,671 20,785 6,509 15,566 32,935 10,703 21,925 43,436 9,716 45,816 nil. 52,944,058 2839,424 12,981,524 3032,381 4623,142 3371,770 3029,706 9124,935 2131,180 1247,774 2275,670 2068,357 6218,195 70,798 355 3,872 2/20,110 4,646 6,336 15 3,520 3,309 10,419 2,605 1,689 2,746 340 3,661 7,885 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,480,370 1648,891 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 Eligible paper -79,285 U. S. Govt, securities 18,810,000 1150,000 Total collateral 29,639,285.1730,000 1/ After deducting $195,120,000 participations 2/ After deducting $50,688,000 participations 6,607,726 1797,050 2605,253 2140,625 1579,073 5367,003 1253,798 628,399 H4l,ll6 834,080 2877,356 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 -12,990 — ---13,150 4,000.000 1200.000 1750,000 1500.000 1100.000 3500.000 915.000 6,920,000 1852,990 2670,000 2170,000 1600,000 5500,000 1378,150 of other Federal Reserve Banks of other Federal Reserve Banks. -53,145 "" ~450,000 850.000 575,000 1800.000 650,000 1203,145 865,000 3100,000
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