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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release August 20, 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 19 decreased $113 million to $18,509 million. Estimated required reserves decreased $16 millionj and estimated excess reserves decreased $97 million to $438 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $507 million, compared with $538 million the week before. The principal changes reducing average reserves were decreases of $128 million in member bank borrowings and $74 million in Federal Reserve holdings of U. S. Government securities, and increases of $163 million in Treasury deposits with Federal Reserve Banks and $43 million in "other11 F. R. accounts (net). The principal offsetting change was an increase of $294 million in Federal Reserve float. Total Reserve Bank credit increased $89 million. As of bought outright securities held bank borrowings Wednesday, August 19, holdings of U. S. Government securities were $104 million lower than a week earlier, U. S. Government under repurchase agreement were $4l million higher, and member were $67 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 advancesMember bank borrowings Other Float Total Reserve Bajik credit Gold stock Treasury currency outstanding 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) Member bank reserves-Required reserves (estimated) Excess reserves (estimated) *Less than $500,000. Averages of daily figures Week ended Change from week ended Wednesday, August 12, August 20, August 19, August 19, 1959 1958 1959 1959 (in millions of dollars) 26,525 6 22 - 72 - 2 - 2 +1,119 + 6 12 945 -128 + 1,065 28,562 19,601 5,282 53>45 32,051 397 638 256 349 1,246 34,937 18,509 18,071 438 26,493 43 21 729 524 +294 + 89 - 18 -+ 72 + 57 +1,097 -1,485 + 72 + 485 t 968 28,049 19,600 5,282 52,932 - 20 - 4 + 756 299 4- 110 3 + 48 13 + 625 31,991 397 517 259 345 1,306 34,814 - 16 + - 97 ~ 139 44 183 18,117 18,088 29 * +163 - 1 + 6 + 43 +186 -113 - On August 19, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,208 million, an increase of $37 million for the week and an increase of $836 million from the comparable date a year ago. H.4.1(a) , STATEMENT OF CONDITION OF THE TIvELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) August 19, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 18,371,6^2 M l : 19 383,411 386,381 524,092 Change since August 20, August 12, 1958 1959 + + - 20,554 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + 27,080,808 - 15 30,007 + 8,928 + 67,172 + -- - 1,693 - 45,662 11,640 283,918 341 11,520 - 103,500 + 1,180,590 -11,000,298 +11,000,298 2,492,200 10,506,993 11,010,298 2,483,771 26,493,262 42,900 26,536,162 100 - 1,259,851 1,961 4" 59,627 2,061 - 1,200,224 - 103,500 + 1,180,590 41,400 + 42,900 62,100 + 1,223,490 130,965 + 1,495,547 5,732,23?*+ 340,891 + 96,942 + 757 + 122,903 - 87,086 + 598,317 24,268 + 721,616 91,110 2,576 + 460,625 68,612 5,982 36,040 349,991 505,444 22,744 899,813 53,104,529 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 18,117,452 516,938 258,791 344,555 19,237,736 4,764,418 ,37,580 51,616,640 C A P I T A L A C C O U N T S Capital paid-in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 381,807 868,410 237,672 53,104,529 + 27,576,906 + + 160,471 16,198 + + + + + + 114,297 + 1,281 + 142,916 + 779 + -- l/+ 16,776" j_ 160,471 + 6,886 16,074 973,902 26,114 31,669 16,306 973,902 Ratio of gold certificate reserves to deposit 2.9% and F. R. note liabilities combined 41.2$ Contingent liability on acceptances purchased 3,617 23,739 for foreign correspondents 74,415 686 5 Industrial loan commitments 350 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 19, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances 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 Acceptances 5,864 516,479 7,413 200 14,690 524,092 20,554 U. S. Government securities 459,110 6,275,300 11,807,683 6,523,912 410,385 1,059,772 26,536,162 H.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAKK OCT AUGUST 19, 1959 ClevePhilaSt. Boston New York delphia land Richmond Atlanta Chicago Louis (in thousands of dollars) 18,371,642 911,126 Kansas City Dallas 689,979 369,628 747,876 642,924 2395,198 42,773 23,332 43,992 4,857,485 1129,540 1700,662 1122,197 925,192 3528,737 732,752 392,^60 791,868 4,665,437 1069,276 1615,725 1044,i4l 60,264 \ 55,775 19,301,636 966,901 F.R. notes of other Banks Other cash 383,411 386,381 42,357 25,841 76,552 70,407 30,502 23,629 13,104 35,531 29,394 24,331 59,665 35,481 26,617 58,852 10,200 24,763 22,475 8,803 21,997 13,284 12,397 12,964 38,151 52,495 Discounts and advances Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 524,092 22,650 50,810 8,l4o 69,895 21,933 103,130 110,392 21,500 34,890 39,642 34,110 7,000 56,764 107,426 99,474 101,358 427,319 239,318 452,904 419,376 447,789 250,782 474,599 439,465 101,015 56,573 107,063 99,137 "6037437 1151,992 1057,452 10777481" 284,657 1200,098 1257,585 283,694 3026,034 84,937 78,056 San Francisco 930,794 57,508 176,089 29,680 86,340 672,604 2481,538 20,554 20,554 2,492,200 10,506,993 11,010,298 2,483,771 26,493,262 192,048 867,684 3352,648 Minneapolis 627,167 142,121 135,114 569,637 2,644,10b 599,172 596,923 2,770,763 627,873 lj4^658_ 625,046 141,639 1436,332 1)76577582 T510:805 42,900 215,770 159,719 131,349 431,281 909,674 673,373 553,760 1818,256 953,250 705,628 580,287 1905,354 215,o4o 159,180 130,905 429,821 2293,7^697:900 "139^7301'¥584,712 42,900 Total U. S. Govt, sees. 26,536,162 1436,332 6,709,982 1510,805 2293,734 1697,900 1396,301 4584,712 1077,481 603,437 1141,992 1057,452 3026,034 Total loans & securities 27,080,808 1458,982 6,781,346 1518,945 2363,629 1719,833 1499,431 4695,104 1098,981 638,327 1181,634 1091,562 3033,034 Due from foreign "banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 2//HT 1 1 1 / 4 1 1 l 1 2 1 \ 15 5,732,^33 407,710 1 , 0 0 0 , 0 8 1 348,464 501,229 453,118 462,017 901,386 234,852 168, ffjl 289,180 5,142 4,692 96,942 4,463 10,117 4,125 9,357 6,878 9,636 13,504 6,943 2,850 6,207 7,480 20,300 5,062 122,903 6,593 29,640 6,657 10,559 7,679 1 1 682,150 12,530 14,701 53,104,529 2912,848 12,825,632 3061,863 4634,072 3363,431 2998,903 9244,502 2113,554 1238,528 2308,863 2087,733 6314,600 l/ After deducting $11,000 participations of other Federal Reserve Banks, _2/ Less than $500. 1 283,475 9,555 5,175 J ft Lj~ H.4.1(c) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON 1AUGUST 19, 1959 1 — ' St. ClevePhilaAtlanta Chicago Louis Boston New York land Richmond delphia Minneapolis Kansas City San Dallas 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 availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 27,576,906 1 5 9 3 , 1 0 4 6 , 4 0 0 , 6 4 3 1742,067 2543,583 2067,937 1508,739 5264,549 1204,302 612,023 1108,099 791,746 2740,114 18,117,452 823,422 4,795,790 878,408 1496,471 775,306 9 7 2 , 9 0 3 2858,243 631,168 415,162 8 5 7 , 5 7 3 926,778 2686,228 37,637 67,094 2 5 , 3 5 9 31,177 44,127 31,821 86,082 29,704 24,140 33,961 30,871 7 4 , 9 6 5 516,938 14,135 1 / 7 3 , 7 5 1 16,962 23,130 12,850 12,079 38,036 9,509 6,168 10,023 13,364 28,784 258,791 41,530 379 2,831 332 654 290,587 1,828 1,020 2,64o 1,243 556 344,555 19,237,736 875,848 " 5,227^222 922^557 1551,798 834,923 1018,046 2982,917 670,713 445,849 904,388 971,968 2831,507 4,764,418 37,580 358,314 782,782 2 , 9 , 7 6 6 2,192 297,581 401,715 380,813 1,848 3,381 2,148 22,760 59,607 15,443 35,994 76,643 17,114 44,846 398,130 769,144 179,738 142,840 1,978 5,998 1,345 1,_491 19,661 52,164 39,474 132,159 12,733 33,746 8,677 20,785 234,868 246,570 571,923 1j.T24 ^ 4,163 51,616,640 1829,458 12,420,413 2964,053 4500,477 3285,821 2926,893 9022,608 2056,098 1202,203 2248,901 2012,008 6l4?,707 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. 381,807 868,410 237,672 18,971 50,116 14,303 109,751 238,902 56,566 20,958 15,650 12,875 37,571 10,977 6,863 15,598 32,935 11,429 21,926 *6,436 10,363 46,458 95,76l 24,674 53,104,529,2912,848 12,825,632 3061,863 4634,072 3363,431 2998,903 9244,502 2113,554 1238,528 2308,863 2087,733 6314,600 74,415 350 4,092 2/20,847 4,910 6,696 3,720 3,497 11,011 2,753 1,785 10 2,902 340 3,869 8,333 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,489,354 1 6 5 0 , 7 2 0 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580 000 Eligible paper 69,282 U. S. Govt, securities 18,910,000 1150,000 Total collateral 29,729,252 1730 0 0 0 1/ After deducting $185,040,000 participations 2/ After deducting $53, 568,000 participations 6,631,346 1 7 9 1 , 2 9 2 2597,464-2136, fe8b 1 5 8 2 , 5 5 3 5 3 % 0 7 5 1 2 4 9 7 W " 6 2 7 , 5 5 5 1 1 3 7 , 5 4 2 039,430 2867,200 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 -- 8,140 -- 4,000,000 1200,000 1 7 5 0 , 0 0 0 6,920,000 1848,140 2670,000 -— — 1 5 0 0 , 0 0 0 1200,000 3500,000 2170,000 1700,000 5500,000 21,500 935,ooo 1386,500 -- 450,000 650,000 39,642 850,000 1189,642 of other Federal Reserve Banks. of other Federal Reserve Banks < •L --5 7 5 , 0 0 0 1800,000 865,000 3100,00°
@FedFRASER