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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release December 19, 1957 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 ending December 18 increased $456 million to $19,483 million. Estimated required reserves increased $252 million; and estimated excess reserves increased $204 million to $636 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $109 million, compared with $237 million the week before. The principal changes supplying average reserves were increases of $505 million in Federal Reserve float, $76 million in member bank borrowings, and $21 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $30 million in "other" F. R. accounts (net). The principal offsetting changes were increases of $146 million in money in circulation, $21 million in Treasury deposits with Federal Reserve Banks, and $16 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $601 million. As of Wednesday, December 18, U. S. Government securities held under repurchase agreement were $9 million lower than a week earlier and member bank borrowings were $236 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 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) Averages of daily figures For week ending Change from week ending Dec. 18, 1957 Dec. 11, 19571 Dec. 19, 1956 (In millions of dollars) 23,600 307 27 8 + 26 - 5 + - 2, 1 745 + 76 1,525 +505 22,770 5,143 54,130 + 4 + 1 +6o4 31,973 +146 - 1 + 21 + 16 - 3 - 30 6 26,218 768 339 334 183 1,050 34,648 19,483 18,847 636 - 2 +601 +150 +456 +252 +204 - + 889 11 5 6 + 218 23 - 310 -1,005 + 843 + 79 83 + 138 + + 159 55 14 39 30 + 52 75 23 8 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 22,770 Treasury cash holdings 776 Treasury currency outstanding 5,144 Member bank) - Required (est.) 19,048 Money in circulation 32,002 reserves ) - Excess (est.) 577 On December 18, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $ 3 , 7 6 1 million, a decrease of $47 million for the week and an increase of $78 million from the comparable date a year ago. 8.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 11, Dec. 19, 1956 1957 Dec. 18, 1957 ASS ETS 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 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 21,217,393 867,254 22,084,647 351,987 308,829 730,853 507 26,312 15,519 8,999 + 6,662 + + 2,337 6,643 16,240 240,690 9 + + 10,809 9,000 9,000 83.B63.W5 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 24,636,626 - 6,497,394 83,585 195,036 54,158,116 +1,819,433 + 133 21,420 41,573 309 - 60,007 5,452 6,593 238,417 - - 968,497 76,800 -1,045.297 -1,099,224 10 89,047 +1,563,193 - 38,246 113,077 27,610,478 + 117,115 + 108,799 19,625,048 487,738 344,069 174,823 + + + 411,117 154,964 13,922 7,213 + 572,790 + 857,960 + 283 +1,548,148 + + - 210,627 281,885 61,278 7,791 545,999 313,650 1,493 + + 18,794 53,981 13,552 + +1,563,193 - 57,596 4,574,829 24,692 52,841,677 343,643 747,593 27,543 197,660 54,158,116 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + - + + 20,631,678 C A P I T A L A C C O U N T S Capital paid"in" Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 7,257 843,743 - 815,497 +9,000,913 -9,153,913 2,801,750 23,599,635 263,800 12 + 455 864,273 19,933,612 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + 851,000 6,022 + 10,186 hm 128,256 - 113,077 2.256 45.8# 68,367 1,095 303 29 17,14% 1,065 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 18, 1957 (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 721,418 9,409 26 730,853 Industrial Acceptances loans 60 22,394 29 19,437 285 133 507 41,831 U. S. Government securities 331,200 6,303,866 14,439,112 1,374,400 56,610 mMM • S.4.l(b) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 18, 1957 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Total 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 21,217,393 1048,189 867,254 56,044 22,084,647 1104,233 351,987 308,829 5,923,691 1162,309 1954,804 1331,526 182.497 58,901 79,561 73.569 6,106,188 1221,210 2034,365 1405,095 28,211 82,665 17,653 58,825 26,294 16,180 15,643 20,571 32,116 21,137 Minneapolis Kansas City Dallas 346,037 784,056 734,686 2452,314 43,349 22.172 41.597 892,029 3952,817 884,293 368,209 825,653 16,506 6,788 11,396 843,110 3795,727 840,944 48,919 52,236 23,686 157,090 29,374 52,359 10,542 22,655 8,384 28.495 San Francisco 75.060 763,181 2527,374 15,631 10,873 35,981 45,110 Discounts and advances 730,853 224,136 17,439 33,445 122,445 22,577 30,298 141,931 11,604 13,253 59,462 26,722 27,541 Industrial loans 285 507 198 24 Acceptances: Bought outright 26,312 26,312 Held under rep. agree. 15,519 15,519 U. S. Govt, securities: Bought outright— Bills 864,273 47,143 216,138 50,450 75,916 55,221 44,766 150,860 35,742 18,651 37,106 33,870 98,410 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,809 781,178 2269,720 Notes Bonds 2.801.750 .152,824 700.664 163.547 246.100 179.012 145.122 489.048 115.866 60.462 120,288 10Q.7Q8 n Q . m o Total 23,599,635 1287,266 5,901,820 1377,582 2072,945 1507,851 1222,390 4119,340 975,963 509,280 1013,203 924,846 2687,149 Held under rep. agree. 261.800 263.800 Total U. S. Govt, sees. Total loans & securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1287,266 6,165,620 1377,582 2072,945 1507,851 1222,390 4119,340 509,280 1013,203 924,846 2687,149 24,636,626 1304,990 6,431,587 1411,225 2195,390 1530,428 1252,688 4261,271 987,567 522,557 1072,665 951,568 2714,690 12 1 270,535 6,301 8,422 1 609,864 10,969 21,818 54,158,116 2977,544 14,033,546 3147,776 4850,990 3494,069 2733,489 9398,776 2194,475 1094,372 2240,760 2026,512 5965,807 6,497,394 83,585 195,036 1 506,885 5,045 10,526 1 / 3 1 1,295,661 457,277 10,653 4,536 47,964 11,053 1 558,279 9,648 17,093 1/ After deducting $9,000 participations of other Federal Reserve Banks, 2/ Less than $500. 975,963 3 1 486,048 7,042 12,202 1 2 2 / 2 / 2 / 496,419 1060,516 275,554 169,214 311,142 6,330 6,827 6,017 5,309 4,908 10,100 35,610 7,847 4,193 8,208 STATEMENT OF CONDIT]CON OF EACH FEDERAL RESERVE BANK ON DECEMBER 18, 1957 St. ClevePhilaRichmond Atlanta 1 Chicago Louis Boston J New York delphia land (In thousands of dollars) 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 27,610,478 Minneapolis Kansas City Dallas San Francisc< 1644,957 6,503,440 1743,508 2639,299 2206,517 1309,760 5346,470 1230,236 492,084 1079,438 745,483 2669,286 19,625,048 487,738 344,069 174,823 20,631,678 854,155 5,728,125 938,398 1593,399 19,662 1/100,328 875,039 6,425,265 23,730 10.934 973,310 4,574,829 379,535 733,875 338,369 24,692 52,841,677 1.121 535 479,656 687 " 117,156 . .. 7.781 2900^652 13,670,'361 846,582 929,699 3094,681 716,051 30,510 1,252 17,289 15,255 48,138 1,320 463 946,794 3143,847 12,543 960 730,075 466,030 349,898 4l4,635 1.236 2.741 1.112 3056^443 4733^759 3424,506 993 2672,182 15,624 37,594 3,349 12,996 16,494 33,179 762 10,872 248 528 508 2,600 1625,689 866,979 520 565 521 435,626 901,866 975,910 2610,556 2,171 8,136 226 446,159 518 501 12,882 17,628 1.599 916,865 1,467 1,401 995,440 26 37,968 715,618 182,537 122,433 191,205 217,463 463,211 774 745 3,843 9209,778 2143,593 1061,450 859 1.168 1959,554 13,746 27,983 1,137 9,527 19,343 2188,367 2.319 5821,032 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 343,643 747,593 27,543 197,660 17,583 43,948 3,011 12,350 101,6l8 208,002 7,319 46,246 21,210 52,301 4,489 13,333 32,364 66,393 1,006 17,468 46,448 110,421 1,429 30,700 11,576 29,331 521 9,454 7,407 18,520 1,073 5,922 37,508 1,307 8,800 40,230 82,413 2,l40 19,992 54.158,116 2977,544 14,033,546 3147,776 4850,990 3494,069 2733,489 9398,776 2194,475 1094,372 2240,760 2026,512 5965.807 68,367 1,095 3,967 __ 2/19,188 6,156 3,488 3,078 9,713 2,531 j_ 00 —• —— uv -FEDERAL RESERVE AGENTS' ACCOUNTS 6,745,23? 1799,584 2709,663 2274,586 1368,837 5471,615 1274,169 —— 4,788 l,64l —— 2,599 yn\J 3,557 —— 7,66l —— 534,242 1107,874 790,648 2817,245 F. R. notes outstanding 28,602,757 1709,057 Collat. for F. R. notes: X5old certificate acct. 12,273,000 700,000 3,270,000 640,000 1130,000 945,000 425,000 2500,000 450,000 130,000 300,000 283,000 1500,000 —— 33,060 — —— -— —— 11,400 -— 59,053 -— — 103,513 Eligible paper 1150,000 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 895.000 425.000 820,000 525,000 1500,000 U. S. Govt, securities 17,165,000 Total collateral 29.541.513 1850.000 "6.870.000 1873.060 2730.000 2295.000 1425.000 5600.000 1356.400 555.000 1179.053 808.000 1000.000 l/ After deducting $243,741,000 participations 2/ After deducting $49, 179,000 participations of other Federal Reserve Banks. 1 x
@FedFRASER