The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release December 4, 1958 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 3 increased $109 million to $18,740 million. Estimated required reserves increased $44 million; and estimated excess reserves increased $65 million to $530 million. Member bank 'borrowings at the Federal Reserve Banks exceeded excess reserves by $49 million; the week "before they were $37 million less than excess reserves. The principal changes supplying average reserves were increases of $455 million in U. S. Government securities bought outright and $151 million in member bank borrowings. The principal offsetting changes were increases of $232 million in money in circulation, $64 million in "other" deposits with Federal Reserve Banks, and $40 million in "other" F. R. accounts (net), and decreases of $112 million in Federal Reserve float and $46 million in U. S. Government securities held under repurchase agreement. Total Reserve Bank credit increased $445 million.• As of bought outright securities held bank borrowings Wednesday, December 3, holdings of U, S. Government securities were $458 million higher than a week earlier, U. S. Government under repurchase agreement were $120 million lower, and member were $720 million lower. Holdings of certificates decreased $2,858 million and notes increased a like amount, reflecting the exchange of certificates maturing December 1 for the new issue of notes maturing May 15, 1961; $5,000 million of the certificates maturing December 1, 1958, were exchanged for the new issue of certificates maturing November 15, 1959* Averages of daily figures Member bank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, December 3, November 26, December 4, Dec. 3, and related items 1958 1958 1957 1958 (]Cn millions of dollars) Reserve Bank credit: U. S. Government securities— 26,120 +2,553 Bought outright—System account 26,033 +455 142 - 46 12 110 Held under repurchase agreement Acceptances— + - 2 13 Bought outright 34 35 1 Held under repurchase agreement Loans, discounts, and advances-328 +151 Member bank borrowings 39 579 2 2 Other 7 82 1,03^ 1,087 -112 + Float +2 ,457 27,844 +®5 27,532 Total Reserve Bank credit 20,609 20,609 -2,154 Gold stock - 7 + 5,228 + 3 5,229 87 Treasury currency outstanding +441 + 391 53/681 53,369 «•••* 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) 32,057 693 465 222 401 1,103 34,941 Member bank reserves— Required reserves (estimated) Excess reserves (estimated) 18,740 18,210 530 +232 + 7 + 10 - 21 + 64 + 40 +332 + - + - + + +109 r w + 65 - + 32,112 389 77 160 69 210 62 674 469 233 344 1,191 35,047 , 283 370 87 18,323 18,239 84 698 On December 3, 1958, U. S, Government securities held in custody by the Federal Reserve Banks for foreign account were $3,822 million, a decrease of $7 million for the week and an increase of $17 million from the comparable date a year ago. H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec, 4, Nov 2 5 1958 1957 Dec. 3, 1958 ASSETS 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 V« S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U, S. Government securities 2,483,771 26,120,412 12,400 26,132,^12 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 26,497,351 15 5,248,444 93,471 122,613 52,599,-B98 + - 126 135,721 552,372 +2,195,267 3 + + 392,191 10,113 + * ,63,°51 + 431,026 27,610,322 + 106,154 + 606,379 6,624 584,461 225,077 74,351 161,305 272,430 + 376,197 +_ 9,384 + 397,707 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 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 10,000 19,098,8.94 918,549 20,017,443 296,963 323,598 329,003 337 35,199 2,119,350 18,649,726 2,867,565 18,322,932 469,438 233,218 343,698 19,369,286 8,070 1,930 8,884 7,375 719,531 + 870 + 458,200 -2,857,565 +2,857,565 458,200 120,400 337,800 - 380,861 - + + - 35,495 18,002 7,442 5877559 4,213,520 33*614 + - 90,572 8,536 563^441 358,713 809,195 205,248 52,599,898 + 590 51,226,7^2 + - -2,119,498 + 58,309 -2,061,189 - 37,106 - 168,652 + 12,143 5,202 185 2,616 +1,300,077 -1,283,886 +2,867,565 - 317,979 +2,565,777 - 211,200 +2,3557577 284,556 + 16,853 l/+ 34,059 10,479 "" ,17,593 552,372 +_ 431,026 Ratio of gold certificate reserves to deposit 42,6# and F. R. note liabilities combined 4.4# Contingent liability on acceptances purchased 73,842 1,329 + 6,230 for foreign correspondents Industrial loan commitments . 995 "" 20 150 l/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 3, 1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government Discounts and Industrial securities Acceptances advances loans 120,060 204 •322,054 Within 15 days 37# 20 7,518,683 6,949 31,361 16 days to 90 days 46 13,142,733 91 days to 1 year 3,881,179 Over 1 year to 5 years 83,910 Over 5 years to 10 years 1,386,247 Over 10 years 26,132,812 329,003 35,199 337 Total 67 I RESERVE BANK M DECEMBER 3, 1958 STATEMENT OF CONDIT] St. Cleve- Richmond Atlanta Chicago PhilaBoston New York Louis delphia land S 1.4.1(b) Total Minneapolis Kansas City Dallas San Francisco ASSETS Gold certificate account 19,098,894 934,910 4,924,898 1070,144 1597,424 1139,282 854,997 3402,810 769,767 452,253 718,817 713,643 2519,949 Redemption fund for 189,976 60,789 85,344 77,425 57,369 168,259 43,848 21,632 43,661 28,952 85,244 F, R. notes 918,549 56,050 Total gold certificate reserves 20,017,443 990,960 5,U4>874 1130,933 1682,768 1216,707 912,366 3571,069 813,615 473,885 762,478 742,595 2605,193 F.R. notes of other Banks Other cash 296,963 323,598 16,857 20,741 72,537 23,320 29,698 18,921 42,759 24,467 23,907 56,815 21,690 8,922 10,194 7,677 5,602 12,380 18,201 18,661 8,136 28,389 14,078 36,830 39,586 Discounts and advances Industrial loans AcceptancesBought outright 6* S. Govt, securities: Bought outrightBills Certificates Notes Bonds Total Held under repurchase agreement 329,003 337 6,974 327 16,541 7,350 19,120 24,001 76,768 91,161 23,648 3,206 43,270 14,218 2,746 Total U. S. Govt, sees. 534,432 121,829 187,615 137,953 107,839 370,208 115,394 1015,440 4,702,864 1072,061 1650,967 1213,948 948,954 3257,734 723,109 164,839 253,851 186,655 145,910 500,907 156,134 135,236 626,327 142,777 219,876 161,674 126,382 433,865 1422,204 6,506,732 1501,506 2312,309 1700,230 1329,085 4562,714 86,457 44,585 90>460 83,017 760,797 392,334 796,026 730,529 116,979 60,325 122,396 112,325 101,323 52,251 106,015 97,292 1065,556 5*9,495 1114,097 1023,163 239,561 2108,072 324,135 280,753 2952,521 12,400 12,400 26,132,812 1422,204 6,599,132 1501,506 2312,309 1700,230 1329,085 4562,714 1065,556 549,495 1114,897 1023,163 2952,521 Total loans & securities 26,497,351 1429,505 Due from foreign banks Uncollected cash items Bank premises Other assets 15 5,248,444 93,471 122,613 TOTAL ASSETS 52,599,898 6,650,872 1508,856 2331,429 1724,231 1405,853 4653,875 1089,204 552,711 1158,167 1037,381 2955,267 1 1 / 4 386,820 4,630 6,743 1 1 1 1 2 1 2 / 1 1 1 997,304 333,317 462,516 419,794 418,652 826,511 233,328 143,546 274,182 249,589 502,785 10,531 4,268 9,920 6,642 9,261 11,452 6,844 5,211 4,865 7,745 12,102 30,438 6,789 11,174 7,848 6,534 20,564 4,895 2,546 6,021 4,914 14,147 2856,257 12,936,753 3026,145 4534,333 3423,842 2819,893 9164,195 2178,499 1195,870 2223,696 2074,504 6165,911 1/ After deducting $11,000 participations of other Federal Reserve Banks 2/ Less than $500. 10 35,199 35,199 2,119,350 18,649,726 2,867,565 2,483,771 26,120,412 60,193 Total Boston | New York ° S a " Bicfcmond|Atlanta Chicago (In thousands of dollars) 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 JuL "city" Dallas FraSiscc 27,610,322 1616,690 6,426,861 1728,039 2551,505 2140,446 1434,420 5276,076 1226,459 583,229 1095,319 784,357 2746,921 18,322,932 761,564 5,002,714 881,173 1427,197 830,065 948,081 2901,725 675,915 427,479 800,351 972,845 2693,823 469,438 40,042 64,373 35,109 44,042 38,820 14,666 62,105 31,l4l 23,532 42,296 23,113 50,199 233,218 12,654 1/73,822 15,318 19,758 11,322 9,990 31,746 8,214 5,328 8,658 11,544 24(864 343,698 339 286,254 1,776 969 3,082 1,826 575 1,701 367 1,249 1,549 44,011 19,369,286 814,599 4,213,520 345,413 5,427,163 933,376 1491,966 883,289 974,563 2996,151 716,971 ,456,706 852,554 1009,051 2812,897 698,102 271,234 363,732 327,114 343,856 683,505 180,554 120,919 219,508 209,329 450,254 33,614 1,627 8,916 1,829 3,636 1,787 1.662 5.651 1.149 997 1.374 1,353 3.6^ 51,226,742 2778,329 12,561,042 2934,478 4410,839 3352,636 2754,501 8961,383 2125,133 1161,851 2168,755 2004,090 6013,705 CAPITAL ACCOUNTS "6e#Ital paid in Surplus 0#ier capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Canting, liab. on acceptances purchased for foreign correspondents Industrial loan commit. 358,713 809,195 205,248 18,032 47,148 12,7t8 103,864 223,530 48,317 21,837 56,214 13,616 33,560 71,541 18,393 16,247 41,165 13,794 18,139 36,198 11,055 49,362 121,515 31,935 12,121 31,560 9,685 8,297 19,761 5,961 14,701 30,524 9,716 20,567 40,926 8,921 41,986 89,113 21,107 52,599,898 2856,257 12,936,753 3026,145 4534,333 3423,842 2819,893 9164,195 2178,499 1195,870 2223,696 2074,504 6165,911 73,842 995 4,189 — 2/21,069 -- 5,071 -- 6,541 55 3,748 3,308 — -- 10,511 -- 2,720 -- 1,764 2,867 940 3,822 8,232 -- __ FEDERAL RESERVE AGENTS' ACCOUNTS 28,610,868 1665,666 F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 11,233,000 600,000 74,079 Eligible paper U. S. Govt, securities 18,120,000 1150,000 Total collateral 29,427,079 1750,000 1/ After deducting $159,396,000 participations 2/ After deducting $52,773,000 participations 6,744,116 1794,302 2601,362 2198,718 1483,191 5417,611 1276,039 595,968 1117,429 837,390 2879,076 3,120,000 640,000 920,000 775,000 425,000 2200,000 430,000 200,000 300,000 323,000 1300,000 --— 23,600 — 43,219 7,260 -3,800,000 1200,000 1750,000 1450,000 1100,000 3300,000 900,000 425,000 820,000 525,000 1700,000 6,920,000 1847,260 2670,000 2225,000 1525,000 5500,000 1353,600 625,000 1163,219 848,ooo 3000.000 of <b*her Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER