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BOARD OP GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
E.4.1
For Immediate Release
February 5, 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
February 4 decreased $68 million to $18,749 million. Estimated required reserves
decreased $46 million; and estimated excess reserves decreased $22 million to
$353 million. Member bank borrowings at the Federal Reserve Banks exceeded excess
reserves by $62 million, compared with $114 million the week before.
The principal changes reducing average reserves were decreases of
$128 million in Federal Reserve float, $74 million in member bank borrowings, and
$39 million in gold stock, and an increase of $38 million in Treasury deposits with
Federal Reserve Banks. The principal offsetting changes were increases of $121 million in U. S. Government securities bought outright and $81 million held under
repurchase agreement, and a decrease of $29 million in money in circulation. Total
Reserve Bank credit decreased $2 million.
As of
bought outright
securities held
bank borrowings
Wednesday, February 4, holdings of U. S. Government securities
were $160 million higher than a week earlier, U. S. Government
under repurchase agreement were $64 million higher, and member
were $87 million lower.
NOTE: Because February 12 (Lincoln's birthday) is
a holiday at several Reserve Banks, next week's statement will be issued on Friday, February 13•
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 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
Week ended Change from week ended
Jan. 2b, I Feb. 5,
Feb. 4,
1959
I 1958
(In millions of dollars)
WW
81
+121
+ 81
39
-
25,592
415
19
946
27,092
20,476^
5,23* b
52,803
31,122^
722-"3
442
278
344
1,146
34,055
353
Wednesday
Feb. 4,
1959
+2,271
+
38
2
2
25,599
63
37
- 74
+ 226
+
18
390
19
+ 143
+2,695
-2,307
916
27,024
20,476
5,236
52,736
+
81
+
467
+
-
542
55
64
13
50
"§B
+
715
728
422
287
352
1,185
3V073
68
-
248
102
146
18,662
18,403
259
TS
22
100
31,100
On February 4, 1959, U. S. Government securities held in custody by
the Federal Reserve Banks for foreign account were $3,715 million, an increase
of $44 million for the week and an increase of $69 million from the comparable
date a year ago.
H.4.1(a)
STATEMENT OF CONDITION
OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of dollars)
Feb. 4,
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
Total loans and securities
Due from foreign banks
Uncollected cash items
Bank premises
Other assets
TOTAL ASSETS
LIABILITIES
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
Other capital accounts
TOTAL LIABILITIES AND CAPITAL ACCOUNTS
Change since
Feb. 5, :
Jan. 25",
1958
1959
40,002
18,957,891
934,106
19,891,997
626,773
485,090
408,382
335
36,633
308
"Wjsio
50,268
5,108
87,082
-2,287,502
+
76,913
-2,210,589
486
50,317
+ 255,321
177
3,205 i
2.483,771
25,598,612
63,850
25,662,462
+
+
+
160,400
63,850
224,250
+1,026,277
-1,283,886
+2,867,565
- 317,979
+2,291,977
40,450
+2,251,527
26,107,812
+
137,169
+2,503,466
-
141,751
143
35,702
156,113
+
+
+
521,492
9,781
30,726
742,621
1,781
+
434,615
173,049
65,590
396,051
214,908
3,4O6
30,563
147,174
410,809;
8,944
707,194
23,118
160,400
1,597,550
18,649,726
2,867,565
15
4,945,559
94,076
141,928
52.293,250
-
27,120,108
18,662,297
421,564
287,159
351,687
19,722,707
4,029,823
23,512
50,896,150
+
-
- 168,320
+
+
+
+
+
+
370,898
868,410
157,792
52,293,250
+
+
-
33,160
HIS
-
-
251,856
469
2,481
1/+
31,669
,
19,360
9,726
+
742,621
156,113
Ratio of gold certificate reserves to deposit
.1#
5-0f
42.5#
and F. R. note liabilities combined
Contingent liability on acceptances purchased
71,35:
2,956
57,048
for foreign correspondents
119
960
Industrial
industrial loan commitments
cumiu. wucuue
- ,w
0
10CQ
1/ Net change after elimination of Sec. 13b surplus of $27,543,000
Sept. 2, 195p
MATURITY DISTRIBUTION OF LOANS AM? SECURITIES. FEBRUARY 4, 1959
(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
loans
advances
6,044,133
12,202
221
388,265
Within 15 days
1,004,010
24,431
14
20,117
16 days to 90 days
13,262,933
42
91 days to 1 year
3,881,179
58
Over 1 year to 5 years
206,495
Over 5 years to 10 years
1.263,662
Over 10 years
25^662,462
36,633
408,382
335
Total
H.4.l(b)
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
Discounts and advances
Industrial loans
Acceptances—
Bought outright
JJ. S. Govt, securities:
Bought outright—
Bills
^Certificates
Uotes
Bonds
Total
Held under repurchase
-agreement
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 4, 1959
St.
Cleve- Richmond Atlanta {Chicago
PhilaNew York
Boston
Louis
land
delphla
(In thousands of dollars)
4,889,787 1038,920 1557,393 1034,635
San
Francisco
Minneapolis
Kansas
City
897,703 3456,356 748,055
465,096
778,518 759,110 2432,116
44,389
22,237
43,353
954,273 3628,181 792,444
487,333
821,871
Dallas
18,957,891
900,202
934,106
55,187
19,891,997
955,389
626,773
485,090
51,792
36,432
142,318
97,976
39,477
29,234
46,683
42,053
68,704
29,642
83,016
33,628
52,706
80,685
20,683
30,382
17,547
13,195
8,125
16,276
38,285
18,755
57,437
56,832
408,382
335
15,856
327
51,839
20,448
42,827
38,762
52,731
72,298
11,742
20,269
52,042
17,218
12,350
196,354
59,454
87,032
83,560
5,086,141 1098,374 1644,425 1118,195
56,570 171,825
8
29,686
84,459
788,796 2516,575
36,633
36,633
402,851
91,834
86,983
1,597,550
4,702,864
1072,061
1015,440
18,649,726
723,109 164,839
2,867,565 156,134
135,236
626,327 142,777
2,483,771
1393,793
6,455,151
1471,511
25,590,612
81,288
141,423 103,988
1650,967 1213,948 948,954
253,851 186,655 145,910
. . 126,382
.
219,876 161,674
2266,117 1666,265 1302,534
33,608
68,189
62,577 180,579
65,171
279,059
392,334
796,026
730,529
2108,072
3257,734 760,797
60,325
122,396
112,325
324,135
500,907 116,979
52,251
106,015
97,292
280,753
433,865 101,323
4471,5^5 1044,270 538,518 1092,626 1002,723 2893,539
63,850
63,850
Total U. S. Govt, sees.
25.662,462 1393,793
6,519,001 1471,511 2266.117 1666,265 1302,534 4471,565 1044,270
538,518 1092,626 1002,723 2893.,.539-
Total loans & securities
26,107,812 1409,976
6,607,473 1491,959 2308,944 1705,027 1355,265 4543,863 1056,012
558,795 1144,668 1019,941 2905,889
Due from foreign banks
Uncollected cash items
Bank premises
Other assets
TOTAL ASSETS
15
4,945,559
94,076
141,928
1
360,503
4,670
7,459
l/ 4
9057828
10,278
34,672
1
321,978
4,223
7.764
1
1
440,982 364,741
9,386
6,716
12.913
9,024
2 /
129,724
5,219
2.962
1
1
301,308 248,217
4,771
7,889
6.873
5.640
1
462,886
12,477
15,647
52,293,250 2826,222 12,884,690 2993,010 4505,387 3302,050 2853,731 9133,526 2120,698 1214,775 2303,893 2127,524 6027,744
1/ After deducting $11,000 participations of other Federal Reserve Banks.
2/ Less
than $500.
1
1
2
208,356
410,090 790,946
6,893
9,289
12,265
5>927
8,169
24,878
STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 4, 1959
St.
ClevePhilaRichmond Atlanta Chicago
Boston
New York
Louis
delphia
land
(In thousands of dollars)
Minneapolis
27,120,108
1580,553
588,983 1079,907
18,662,297
421,564
287,159
151.687
19,722,707
787,390
45,317
15,400
295
848,402
5,121,249
17,094
1/85,559
"285.730
5,509,632
4,029,823
317,351
681,190
F.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. acc t.
Foreign
Other
Total deposits
Deferred availability
cash items
Other liabilities and
accrued dividends
TOTAL LIABILITIES
6,305,711 1692,586 2501,444 2075,540 1442,531 5184,038 1208,835
Kansas
City
Dallas
San
Francisco
778,733 2681,247
887,937 1456,170
27,010
33,881
18,480
25,200
9.784
1.151
943,211 1516,402
814,020
30,949
14,000
3,429
862,398
949,803 3024,858
31,703
50,499
13,160
4i,44o
878
4,017.
998,683 3117,675
661,840 449,263
22,030
22,300
10,360
6,720
510
_652_
694,889 478,793
872,562 1003,343 2633,862
35,157
40,791
64,833
10,920
14,560
31,360
2.1Q6
1.780
41.058
921,035 1060,474 2771,113
263,493
290,589
344,519
161,906
246,128
358,551
621,260
111,605
215,600
417,631
825
1,069
942
833
2,454
1,196
5,890
1,224
2,647
1,283
1,182
3,967
23,512
50,896,150 2747,502 12,502,423 2900,514 4379,044 3229,810 2786,915 8926,940 2066,455 1180,450 2248,012 2055,640 5872,445
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.
370,898
868,410
157.792
18,307
50,116
10.297
107,509
238,902
15.856
22,065
59,607
10.824
35,267
76,643
14.433
16,593
44,846
10.801
18,654
39,474
8.688
51,018
132,159
23.409
12,502
33,746
7.995
8,469
20,785
5.071
15,218
32,935
7.728
21,264
43,436
7.184
44,032 '
95,761
15.506
52.293.250 2826.222 12.884.690 2993.010 4505.387 3302.050 2853.731 9133.526 2120.698 1214.775 2303.893 2127.524 6027.744
57,048
you
3,135
2/16,008
3,762
5,130
2,850
2,679
8,436
2,109
1,368
2,223
2,964
6,384
FEDERAL RESERVE AGENTS' ACCOUNTS
F. R. notes outstanding
Collat. for F. R. notes:
Gold certificate acct.
Eligible paper
U. S. Govt, securities
Total collateral
2/ After deducting
28,421,341 1675,212
6,679,469 1776,894 2587,634 2168,011 1516,848 5365,797 1261,868
10,875,000 600,000
—
81,633
1150,000
18,715,000
29,671,633 1750,000
2,920,000 640,000 920,000 700,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000
—
19, 24O
——
-—
-11,065
51,328
-——
4,000,000 1200,000 1750,000 1530,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,000
6,920,000 1859,240 2670,000 2230,000 1575,000 5600,000 1376,065 625,000 1201,328 865,000 3000,000
of other Federal Reserve Banks,
of
other Federal Reserve Banks.
$41,040,000 participations
604,648 1110,790
832,743 2841,427
@FedFRASER