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Hi 4 , 1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ForiImmediate Release February 20, I958 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 ending February 19 increased $68 million t o $19,122 m i l l i o n . Estimated required reserves decreased $37 m i l l i o n ; and estimated excess reserves increased $105 million to $625 million. Excess reserves exceeded member bank borrowings a t the Federal Reserve Banks by $264 m i l l i o n , compared with $234 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 $261 million i n Federal Reserve f l o a t and $75 million in member bank borrowings, and decreases of $49 million in Treasury cash holdings and $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 increases of $205 million in Treasury deposits with Federal Reserve Banks, $77 million in "other" F. R, accounts ( n e t ) , and $53 million i n f o r e i g n deposits with Federal Reserve Banks, and a decrease of $49 million in Federal Reserve holdings of U. S. Government s e c u r i t i e s . Total Reserve Bank c r e d i t increased $287 million. As of Wednesday, February 19, holdings of U, S. Government s e c u r i t i e s bought outright were $57 million higher than a week e a r l i e r , U. S. Government s e c u r i t i e s held under repurchase agreement were $165 million lower, and member bank borrowings were $102 million lower. Holdings of c e r t i f i c a t e s increased $12 million and bonds decreased a l i k e amount, r e f l e c t i n g the exchange of bonds maturing March 15 f o r the new issue of c e r t i f i c a t e s . Meriber bank r e s e r v e s , 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 Acceptance s—bought o u t r i g h t 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 (net) Member bank r e s e r v e s Required reserves (estimated) Excess reserves (estimated) * L eLess than $500,000. For week ending Change from week ending Feb, 19, 1958 Feb, 12, 1958 Feb, 20, 1957 (In millions of doll Lars) 23,285 - 7 - 42 88 41 361 * 1,054 24,830 22,785 5,161 w - + 75 - 1 +261 +207 + 1 + 2 52,776 +290' 30,642 - 33 - 49 685 +205 501 337 293 1,195 33^5% +222 19,122 + 68 10,497 625 + 53 - 32 + 77 : 37 +105 +327 + 77 + 12 -191 - 26 -134 + 66 +482 + 90 +535 + 37 -130 +328 + 30 + 67 + 79 +E2 +227 +188 + 39 For Wednesday Federal Reserve f i g u r e s see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday f i g u r e s f o r other items appearing above a r e , in millions of d o l l a r s : Gold stock 22,785 Treasury cash holdings 702 Treasury currency outstanding 5,163 Member bank) - Required ( e s t . ) 18.608 Money in c i r c u l a t i o n 30,571 reserves ) - Excess (est.) 574 On February 19, 1958, U» S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r f o r e i g n account were $3,732 m i l l i o n , an increase of $78 million f o r the week and a decrease of $32 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 Fefcu 20, Feb. 12, 1957 1958 Feb. 19, ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. 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 outright 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 outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s + 581,002 7,882 + 573,120 + 80,311 + 41,255 708,449 305 14,276 21,345,393 854,018 22,199,411 549,722 511,941 135,117 485 41,514 f 1 1,575 :17575 + 38 1,675 621,023 19,946,105 + + 57,250 12,493 2,789,257 23,356,305 + - 12,493 57,250 164,700 107,450 - £08,093 + + 281,475 369 -78,701 36.995 26,586,310 - 19,182,442 452,776 290,546 282,202 20,207,966 3,834,155 15,379 50,643,010 + + 23.356,305 23,533,501 15 5,041,846 84,741 Total loans and s e c u r i t i e s Due from foreign banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 110,666 - 10,781 - 102,280 - 19,690 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 c a p i t a l accounts TOTAL LIABILITIES? AND CAPITAL ACCOUNTS 222,230 122,040 + 8,996 294,017 + + 147,954 314,777 757938 2,976 775 -49,853 + + + 102,908 6,210 290 348,591 809,198 27,543 202.701 52.031,043 Ratio of gold c e r t i f i c a t e reserves t o deposit and F. R. note l i a b i l i t i e s combined Contingent l i a b i l i t y on acceptances purchased f o r foreign correspondents I n d u s t r i a l loan commitments + 472,240 - 52.031,055 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 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 + 479,748 +8,579,906 -8,574,913 12,493 + 472,240 1,102 302,261 + + 1,602 33 4,525 84,820 530,510 463,661 H d + + 19,311 i 61,605 20,365 178,029 12,568 36,995 47.4# 132,914 7 - 322,083 + 9,856 + 17.807 + 178,029 + •6$ + 69,647 1,202 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 19, 1958 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.; Within 15 days 16 days t o $0 days 91 days t o 1 year Over 1 year to 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 129,441 5,562 114 135,117 Industrial loans 119 29 224 113 W Acceptances 28,798 U, S. Government securities " 241,023 380,000 19,946,105 1,374,400 56,610 %l75l% 1.358,247 23,356,305 S.4.lfbl Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. 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 ^Industrial loans Acceptances— Bought outright U* S. Govt, s e c u r i t i e s : Sought outright— -Bills Certificates Hafces3Bonds #otal Held under repurchase . agreement STATEMENT OF COMDITIOM OF EACH FEDERAL RESERVE BAHK ON FEBRUARY 19, 1958 St. Cleve Richmond Atlanta Chicago PhilaBoston New York delphia Louis land . . (In thousands of dollars} 21,345,393 1041,653 854,018 55,262 22,199,411 1096,915 5,704,395 1121,299 1851,959 1223,607 179,057 59,578 78,261 69,123 Minneapolis Kansas City 836,472 3975,273 845,435 414,667 875,443 770,438 2684,752 42,958 22,042 48,289 155,662 5,883,452 1180,877 1930,220 1292,730 884,761 4130,935 888,393 436,709 41,272 Dallas 28,246 San Francisco 74,268 916,715 798,684 2759,020 549,722 511,941 32,629 29,822 144,925 118,708 31,974 28,599 52,865 44,479 45,692 32,034 69,387 36,926 49,160 79,512 14,978 32,108 21,473 9,439 6,645 17,058 37,028 19,206 42,966 64,050 135,117 485 8,050 327 4,600 6,720 137 17,235 28,325 11,800 23,6o4 8,200 3,850 21 13,283 1,350 8,100 41,514 41,514 " - - - - 13,402 155,306 36,251 54,549 39,679 32,168 108,399 25,682 621,023 33,874 824,871 430,437 1274,417 1033,148 3481,613 19,946,105 1087,980 4,988,142 1164,314 1752,026 —- 26,663 24,337 70,713 856,346 781,668 2271,143 2,789,257 152,143 23,356,385 1273,997 697,540 162,817 245,003 178,214 144,475 486,868 115,350 5,840,988 1363,382 2051,578 1492,310 1209,791 4076,000 965,903 60,192 119,751 109,308 317,596 504,031 1002,760 915,313 2659,452 Total U. S. Govt, sees. 23,356,385 1273,997 5.840,988 1363,382 2051,578 1492,310 1209,791 4076,880 965,903 504,031 1002,760 915*313 2659,452 Total loans & s e c u r i t i e s 23,533,501 1282,374 5,887,102 1370,239 2068,813 1520,635 1221,591 4100,484 974,103 507,902 1016,043 916,663 2667,552 Due: from foreign tanks Uncollected cash items Bank premises Other -assets TOTAL ASSETS 1 15 5,041,846 386,092 84,741 4,975 110,666 5,932 1 1 1 2/ 1 1 2 1 1 1 1/4 263,400 262,975 478,713 909,029 318,458 449,583 399,363 433,059 802,526 209,723 128,925 6,509 11,090 4,909 6,362 5,304 6,946 6,864 6,985 4,491 10,651 9,655 5,213 12,332 4,652 2,352 4,323„ 5,961 20,695 6,982 6,106 9,694 26,424 52,031,843 2838,740 12,980,295 2940,745 4565,310 3304,422 2658,632 9190,178 2129,991 1112,104 2229,423 2046,279 6035,724 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. A. H.4.1(c) Total STATEMENT OF C0NDIT]CON OF EACH FEDERA3L RESERVE BANK ON FEBRUARY 19, 1958 St. Cleve- ' PhilaChicago Atlanta Richmond Boston J New York Louis delphia land Minneapolis Kansas City Dallas San Francisco L I A B I L I T I E S Federal Reserve notes Deposits: Member bank r e s e r v e s 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 26,586,310 1573,245 6,264,113 1671,382 2533,254 3106,066 1248,988 5187,591 1189,428 503,851 1046,748 717,508 2544,136 19,182,442 860,261 5,358,938 911,626 1495,557 789,222 951,637 3046,921 685,299 437,432 876,649 975,283 2793,617 31,893 78,492 21,434 23,605 34,524 24,087 65,130 29,243 17,372 28,668 39,813 58,515 452,776 16,587 1/81,608 20,079 25,899 l4,84l 13,095 4l,6l3 10,767 6,984 11,349 15,132 32,592 290,546 425 "223,308 11,830 1,376 2,354 1,619 936 2,860 312 l,5?8 1,315 34,269 282,202 9 0 9 , 1 6 6 5,742,346 964,969 1546,437 840^41 990,430 3154,600 720,169 462,100 918,264 1031,543 2918,993 20,207,966 3,834,155 275,060 588,766 208,493 360,089 282,779 353,478 643,736 158,263 111,171 208,453 225,596 418,271 775 3,723 684 1,928 845 733 2,427 511 611 542 912 1,688 2758,246 12,598^948 2845,528 4441,708 3230,631 2593,637 0900,354 2076,371 1077,733 2174,007 1975,559 5883,088 50,643,810 15,379 ^BEITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) -Other - c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l loan commit. 348,591 809,198 27,543 202,701 17,807 47,013 3,011 12,663 21,352 55,923 4,489 13,453 32,867 71,550 l,oc6 18,179 15,868 41,236 3,349 13,338 16,920 47,536 36,192 121,504 762 1,429 11,121 31.355 11,744 31,586 521 9,769 7,534 19,697 1,073 6,067 14,132 30,533 1,137 9,614 19,629 40,871 1,307 8,913 40,572 89,130 2,140 20,794 52,031,843 2838,740 12,980,295 2940.745 4565,310 3304,422 2658,632 9190,178 2129,991 1112,104 2229,423 2046,279 6035,724, 132,914 1,102 7,541 F. R. notes o u t s t a n d i n g 27,890,647 1675,182 C o l l a t . f o r F. R. notes: Gold c e r t i f i c a t e a c c t . 12,253,000 700.000 28,203 E l i g i b l e paper U. S. Govt, s e c u r i t i e s 17,165,000 1150 000 Total c o l l a t e r a l 29.446.203 1850.000 1 / A f t e r deducting $208,938,000 p a r t i c i p a t i o n s 2 / A f t e r deducting $94,991,000 p a r t i c i p a t i o n s 102,630 223,963 7,319 47,435 2/37,923 9,129 47 11,775 52 6,747 5,953 18,919 63 4,895 3,175 5,160 940 6,879 14,818 FEDERAL RESERVE AGENTS' ACCOUNTS 6,648,801 1760,965 2638,383 2192,816 1310,278 5339,833 1244,296 532,759 1073,788 770,188 2703,358 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 i4o,ooo 300,000 283,coo 1500,000 6,720 — — — — 8,200 -13,283 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 895,000 425,000 820,000 525,000 1500,000 6.870.000 1846.720 2710.000 2265.000 l425,ooo 5600,000 1353,200 565,000 1133,283 808,000 3000,000 of other Federal Reserve Banks. of other Federal Reserve Banks.
@FedFRASER