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BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
H.4.1
For Immediate Release
February 27, 1958
WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, Aim RELATED ITEMS
and
STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS
The average of daily figures of member bank reserves for the week ending
February 26 decreased $213 million to $18,909 million. Estimated required reserves
increased $ 4 million; and estimated excess reserves decreased $217 million to
$408 million. Excess reserves exceeded member bank borrowings at the Federal
Reserve Banks by $255 million, compared with $264 million the week before.
million
million
million
Reserve
The principal changes reducing average reserves were decreases of $208
in member bank borrowings, $102 million in Federal Reserve float, and $71
in gold stock. The principal offsetting changes were decreases of $99
in money in circulation and $53 million in foreign deposits with Federal
Banks. Total Reserve Bank credit decreased $303 million.
As of Wednesday, February 26, holdings of U, S. Government securities
bought outright were $53 million higher than a week earlier and member bank
borrowings were $49 million higher.
Member bank reserves,
Reserve Bank credit,
and related items
Averages of daily figures
Change from week ending
For week ending
Feb. 26, 1958 , Feb. 19, 1958 I Feb. 27, 1957
(in millions of dollars)
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
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)
p - preliminary
*Less than $500,000.
+526
42
+ 95
- 88
+ 1
153
-208
23,380
— —
— -
+ 14
952
24,527
922,714
2 5,165
P52,406
-102
-303
- 71
+ 4
-370
-535
- 26
-265
-286
+4ll
+ 92
+217
930,543
P
694
508
284
276
1,193
233,497
- 99
+ 9
+ 7
- 53
- 17
- 2
-157
- 1
-121
+211
- 50
-106
+ 59
r~5
18,909
18,501
408
-213
+ 4
-217
+226
+283
- 57
*
•a —
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
£22,685
Treasury cash holdings
P
697
Treasury currency outstanding P 5,166
Member bank) - Required (est.) 18,522
Money in circulation
^30,499
reserves ) - Excess
(est.)
358
On February 26, 1 9 5 8 , U. S, Government securities held in custody by the
Federal Reserve Banks for foreign account were $ 3 , 6 1 9 million, a decrease of $113
million for the week and a decrease of $99 million from the comparable date a
Digitizedyear
for FRASER
ago.
H.4.1(a)
STATEMENT* OF CONDITION
OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
Change since
Feb. 27,
Feb. 19,
1958
1957
Feb. 26,
1958
A S S 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
U. S. Government securities:
Bought outright—
Bills
Certificates
Notes
Bonds
Total bought outright
Held under repurchase agreement
Total U. S* Government securities
21,245,393
853,803
22,099,196
545,402
521,607
183,737
512
41,703
674,023
19,946,105
-
+
+
+
+
+
100,000
215
100,215
4,320
9,666
48,620
27
189
53,000
—
2,789,257
--
+
+
+
+
+
481,001
8,097
472,904
78,512
51,820
267,579
290
16,322
+ 555,768
+8,583,906
-8,571,413
12,493
53,000
Total loans and securities
Due from foreign banks
Uncollected cash items
Bank premises
Other assets
TOTAL ASSETS
23,409,385
+
53,000
+
555,768
23,635,337
15
+ 101,836
+
-
+
+
+
304,221
7
695,467
9,746
19,094
240,823
4,626,630
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
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
Ratio of gold certificate reserves to deposit
and F. R. note liabilities combined
Contingent liability on acceptances purchased
for foreign correspondents
Industrial loan commitments
415,216
161
84,580
124,468
51,637,235
+
-
394,608
26,510,170
-
76,140
18,879,769
406,364
273,956
297,801
19,857^90
3,905,843
16,653
50,290,556
+
-
302,673
46,412
16,590
15,599
350,076
+
264,355
+
+
-
+
-
1,274
353,254
+
26,635
99,487
443,345
239,455
+
192,357
233
+
+
18,665
61,605
+
348,824
809,198
27,543
161,114
51,637,235
-
47.7#
+
142,742
1.075
+
13,802
71,688
12,3X3
+ 106,138
780
31,804
240,823
41,587
394,608
+
9,828
+
84,578
27
MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 26, 1958
(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
181,113
2,521
103
183,737
Industrial
loans
119
29
251
113
512
Acceptances
12,284
29,419
U. S. Government
securities
214,573
459,450
19,946,105
1,374,400
56,610
41,703
1,358,247
23,409,385
B.4.l(b)
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M OH FEBRUARY 26, 1958
PhilaCleveSt.
Boston
New fork
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
21,245,393 1006,557
853,803
5,893,214 1142,311 1884,855 1313,098
55,250
178,988
22,099,196 1061,807
6,072,202
59,569
30,858
545,402
521,607
30,333
29,405
140,986
113,423
29,546
Discounts and advances
Industrial loans
Acceptances-Bought outright
U. S. Govt, securities:
Bought outright—
Bills
Certificates
Notes
Bonds
Total
Held under repurchase
agreement
183,737
512
12,055
13,015
—
13,640
164
48,278
155,629
Dallas
844,274
406,735
871,540
743,591 2411,633
42,951
22,036
41,260
28,238
San
Francisco
74,248
53,820
42,758
39,760
34,982
75,199
41,075
86,073
48,145
14,543
31,272
21,557
7,354
15,381
36,980
19,554
45,867
68,110
24,255
15,875
9,455
45,604
10,685
9,ioo
21
19,703
6,050
4,300
10,028
41,703
41,703
674,023
19,946,105
69,106
Kansas
City
1201,880 1963,105 1382,204 876,122 4055,370 887,225 428,771 912,800 771,829 2485,881
F.R. notes of other Banks
Other cash
327
78,250
827,844 3899,741
Minneapolis
36,765
168,560 39,345 59,205 43,065 34,913 117,651 27,874 14,546 28,938 26,414 76,747
1087,980 4,988,142 1164,3.14 1752,026 1274,417 1033,148 3481,613 824,871 430,437 856,346 781,668 2271,143
2,789,257 152,143
23,409,3%5 1276,888
697,540 162,817 245,003 178,214 144,475 486,868
$,854,242 1366,476 2056,234 1495,696 1212,536 4086,132
115,350
$68,09$
60,192 119,751
$0$,175 1065,035
109,308 317,596
917,390 2665,486
Total U. S. Govt, sees.
23,409,385
1276,888 5,854,242 1366,476 2056,234 1495,696 1212,536 4086,132 968,095 505,175 1005,035 917,390 2665,486
Total loans & securities
23,635,337
1289,270 5,908,960 1380,280 2080,489 1511,571 1221,991 4131,736 978,780 514,296 1024,738 923,440 2669,786
Due from foreign banks
Uncollected cash items
Bank premises
Other assets
TOTAL ASSETS
15
1
84,580
124,468
4,941
6,524
4,626,630 321,029
1
/ 4
811,618
10,652
30,297
1
286,215
4,469
6,868
1
391,467
9,620
11,073
51,637,235 2743,310 13,088,142 2940,117 4552,333 3366,799
1/ After deducting $11,000 participations of other Federal Reserve Banks*
2/
Less
than $500.
1
383,407
6,943
7,931
1
379,957
6,935
6,506
2
794,079
1
187,722
22,914
4,913
6,859
6,360
2 /
126,645
5,301
2,652
1
235,589
4,952
5,292
1
244,520
6,509
5,727
1
464,382
11,039
13,771
2607,786 9145,178 2110,816 1109,250 2206,107 2008,560 5758,837
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 FEBRUARY 26, 1958
St.
ClevePhilaRichmond Atlanta Chicago
New York
Boston
Louis
delphia
land
{in thousands of dollars)
Minneapolis
Kansas
City
Dallas
San
Francisco
26,510,170 1567,142 6,251,493 1667,156 2524,717 2103,717 1246,328 5165,565 1183,602 503,484 1047,635 714,833 2534,498
18,879,769
406,364
273,956
297,801
19,857,890
749,808
35,190
5,437,706
43,909
429
800,532
"242,822
5,808,123
3,905,843
296,466
653,937
15,105
1/83,686
877,041 1501,664
26,035
27,379
18,285 23,585
9,748
1,612
931,109 1554,240
824,267
38,451
13,515
2,249
878,482
902,930 3067,720
41,360
40,539
11,925
37,895
1,662
633
957,877 3146,787
691,277
17,764
9,805
3,213
722,059
432,271
22,635
6,360
247
461,513
851,517 974,126 2569,442
41,538
25,668 45,896
10,335
13,780 29,680
1,525
1,284
32,377
904,915 1014,858 2677,395
248,205 351,223 312,415 339,973 636,111 152,506 110,039 199,207 208,634 397,127
768
4.164
788
2.195
861
674
fw
*+,jlvjh(w
ywx
16.653
50,290,556 2664,908 12,717,717 2847,258 4432,375 3295,475 2544,852
9
2.323
638
657
673
993
1.919
yv(
yiv
8950,786 2058,805 1075,693 2152,430 1939,318 5610,939
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.
F. R. notes outstanding
Collat. for F. R. notes:
Gold certificate acct.
Eligible paper
U. S. Govt, securities
Total collateral
348,824
809,198
27,543
161,114
17,817
47,013
3,011
10,561
51,637,235 2743.310
142,742
1,075
27,745,074
8,134
102,683
21,367
36.460
11.080
223,963
7,319
55,923
4,489
32,899
71,550
1,006
14,503
15,872
41,236
3,349
10,867
9,054
47,585
121,504
1,429
23.874
11,744
31,586
521
8.160
7,539
19,697
1,073
5,248
14,133
30,533
1,137
7,874
19,685
40,871
1,307
7.379
40,574
89,130
2,140
16.054
13,088.142 2940.117 4552,333 3366.799 2607,786 9145,178 2110,816 1109,250 2206.107 2008.560 5758.837
2/40,283
9,846
12,700
7,278
6,422
20
52
--FEDERAL RESERVE AGENTS' ACCOUNTS
20,406
Di
5,280
—
3,425
--
5,565
V4U
7,421
15,982
1664,831 6,622,849 1755,652 2627,564 2180,599 1308,105 5305,622 1235,890 529,553 1073,408 764,181 2676,920
12,213,000 700,000 3,270,000 640,000 1130,000 875,000 425,000 2500,000 450,000 140,000 300,000 283,000 1500,000
13,640
—
—
—
—
10,685
—
19,703
44,028
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
17,165,000
1850.000
6.870.000
1853.640
2730.000
2225.000
1425.000
5600.000
1355.685
565.000
1139.703
808.000 3000,000
29.422.028
2/ After deducting $102^459*000 participations of other Federal Reserve Banks.
16,926
36,192
762
@FedFRASER