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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release January 16, I958 WEEKLY AVERAGES OF MEMBER B A H 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 January 15 decreased $310 million to $19,348 million. Estimated required reserves decreased $190 million; and estimated excess reserves decreased $120 million to $623 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $48 million, compared with $41 million the week before. The principal changes reducing average reserves were decreases of $289 million in Federal Reserve float, $227 million in U. S. Government securities held under repurchase agreement and $64 million bought outright, and $127 million in member bank "borrowings. The principal offsetting changes were decreases of $346 million in money in circulation, $31 million in foreign deposits with Federal Reserve Banks, and $26 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $710 million. As of bought outright securities held bank borrowings Wednesday, January 15, holdings of U. S. Government securities were $78 million lower than a week earlier, U. S. Government under repurchase agreement were $4l million higher, and member were $422 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government eecuritiee-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 Averages of daily figures For week ending Change from week ending Jan. 15, 1958 Jan. 8. 1958 I Jan. 16. 1957 (In millions of dollars) 23,581 139 42 7 575 6 1,039 25,390 22,781 - 64 -227 -712 +139 1 3 + 8 -127 +252 - 20 -239 -564 4-831 - — — -289 -710 7 + 81 5,147 53,318 + -709 ^ 7 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) 31,207 771 503 306 190 994 33,970 -346 + 3 - 26 - 31 + 4 - 2 -399 + 99 - 15 +210 - 14 - 77 + 97 +299 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 19,348 18,725 -310 -190 -120 + 48 623 l + + 88 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 22,782 Treasury cash holdings 782 Treasury currency outstanding 5,148 Member bank) - Required (est.) 18,673 Money in circulation 31,019 reserves ) - Excess (est.) 600 On January 15, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,78° million, an increase of $36 million for the week and a decrease of $11 million from the comparable date a year ago. H.4.l(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 16, Jan. 8, 1958 1957 Jan. 15, 1958 ASS 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 Held under repurchase agreement U. So Government securities; Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S„ Government securities 2,801,750 23,556,835 151,500 23,708,335 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,038,163 15 5,675,068 84,097 238,799 53,233,6^8 27,048,313 21,230,393 862,409 22,092,602 627,360 457,344 284,848 541 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 2 6,841 + + 50,742 421,811 51 278 41,822 2,617 1 10,513 + + 821,473 19,933,612 78,200 - 431,872 +9,000,913 -9,153,913 78,200 41,400 36,800 + - 584,872 151,500 433,372 469,072 - + 909,944 + 164 +_ 16,537 + 564,487 + + 400,868 7 155,596 10,328 22,709 369,529 - + 87,064 - 20,263,960 4,586,145 13,987 51,912,405 346,467 809,198 27,543 138,035 53,233!648 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 237,243 81,760 19,272,841 525,040 279,102 186,977 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 63,011 841,001 17,542 + "§237^59 + 88,329 + 26,593 21,118 + + 51,263 63,230 15,666 + 78,061 865,246 + 658 + 550,600 358 - 103,878 1,080 15,018 21 17,028 + + + + 239,178 46,994 104,443 70,713 128,059 3,345 282,491 + + 19,685 61,605 +_ 13,529 + 564,487 46.7% 9,047 2,617 5,748 169.529 + 1.6# + 47,742 1,271, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 15, 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 "276,710 8,138 284,848 Industrial loans 111 29 278 123 5%1 Acceptances 21,483 22,956 U. S. Government securities 519,000 5,960,966 14,439,112 1,374,400 56,610 44,439 ,1=358^247 23,708,335 H.4.1(b) Total STATEMENT OF C0KDIT1CON OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1958 St. c Phila11 Atlanta Chicago Boston New York I®1-*""® delphia Louis ulT San Francisco Minneapolis Kansas City 896,702 404,663 898,028 811,763 2566,177 43.182 22,126 Dallas A S S E T S Gold certificate account Redemption fund for F. R e notes Total gold certificate reserves F.R, notes of other Banks Other cash 21,230,393 980,923 862,409 55,695 5,563,526 1135,617 180,910 60,294 1907,192 1317,677 78,976 71,499 846,367 3901,758 48,654 156,477 627,360 457,344 43,477 29,296 137,512 97,577 54,967 23,731 51,375 35,487 60,162 31,723 78,437 33,512 57,097 70,824 Total U»„ S. Govt, sees. 23,708,335 1284.931 6.042.617 1375.083 2069.185 1505.117 1220.173 4111.869 Total loans & securities 24,038,163 1305,893 6,124,066 1386,779 TOTAL ASSETS 15 5,675,068 84,097 258,799 1 412,589 5,010 13,849 1/4 1 1,0367158 336,818 10,668 4,514 63,959 14,670 2096,105 1516,717 1 532,915 1 487,994 22,596 16,392 9,670 74,743 20,687 28,586 24,560 9,673 6,996 1259,298 4194,264 15,881 10,305 37,033 18,237 62,817 20,983 14,260 7,810 35,269 32,193 781,178 2269,720 855,809 51,748 93,536 120,288 109.798 319,019 1011,366 923,169 2682,275 974.193 508.357 1011,366 923.169 2682.275 980,028 515,150 1032,349 937,429 1 2 1 2 / 486,610 938,300 232,054 150,676 6,64l 6,823 6,138 5,307 13,494 46,672 10,465 5,560 1 265,692 4,926 11,023 1 266,334 6,323 10,977 2690,085 1 528,728 11,081 29,142 53,233,648 2846,733 13,214,380 3017,391 4734,317 3509,161 2773,014 9372,217 2217,843 1137,915 2279,660 2116,495 6014,522 l/ After deducting $11,000 par bicryationa of other Federal Reserve Banks. 2/ Less than $500. 28,398 22,092,802 1036,618 5,744,436 1195,911 1986,168 1389,176 895,021 4058,235 939,884 426,789 939,483 840,161 2640,920 284,848 6,770 "Discounts and advances 20,635 37,010 26,920 11,600 39,125 82,395 5,835 11,505 Industrial loans 23 541 191 327 Acceptances: 41,822 41,822 Bought outright ~ Held under rep, agree, 2,617 2,617 tl. S. Govt, securities; Bought outright— 1 44,808 205,435 47,951 72,156 52,487 42,549 143,389 33,972 17,728 821,473 Bills Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,^32 824,355 430,167 Notes 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 2,801,750 152,824 Bonds Total 23,556,835 1284,931 5,891,117 1375,083 2069,185 1505,117 1220,173 4111,869 974,193 508,357 Held under rep. agree. 151,500 151.500 Due from foreign "banks Uncollected cash items Bank premises Other assets 41,455 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1958 Phila CleveSt. Richmond Atlanta Chicago New York Boston delphia land Louis (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 27,048,313 1606,373 Minneapolis Kansas City 6,363,118 1704,484 2582,854 2152,093 1272,607 5259,378 1210,956 496,232 1062,713 763,806 27,572 15,276 407 827,061 5,436,342 49,047 1/86,678 119,907 5,691,974 4,586,1451 333,485 790,956 19,272,841 525,040 279,102 186,977 20,263,960 Dallas San Francisco 735,042 2600,263 890,656 1541,212 20,655 57,573 18,492 23,852 10,004 1,209 939,807 1623,846 614,564 971,059 3081,355 42,224 51,067 56,635 12,CoC 38,324 13,668 l,46l 1,124 4,221 689,088 1026,804 3171,890 722,839 36,620 9,916 891 770,266 441,896 29,092 6,432 _ 348 477,768 900,694 1024,987 2663,431 39,338 41,318 73,879 10,452 13,936 30,016 C96 1,857 44,652 951,380 1082,098 2811,978 281,048 397,634 185,238 130,386 212,621 408,077 411,295 749,070 230,444 455,891 688 488 668 579 2,468 1,761 696 1,256 3,909 578 437 13,987 459 51,912,405 2769,607 12,849,957 2926,007 4616,538 3439,393 2711,485 9182,806 2166,897 1104,874 2227,173 2048,280 5869,388 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 F. R. notes outstanding Collat. for F R. notes: Gold certificate acct. Eligible paper U S Govt, securities Total collateral —. o <pX-jyc-j 2/ After deducting 346,467 809,198 27,543' 138,035 17,757 47,013 3,011 9,345 102,502 223,963 7,319 30,639 21,268 55,923 4,489 9,704 32,741 71,550 1,006 12,482 15,745 41,236 3,349 9,438 16,688 36,192 762 7,887 46,807 121,504 1,429 19,671 11,617 31,586 521 7,222 7,457 19,697 1,073 4,8i4 13,933 30,533 1,137 6,884 19,456 40,871 1,307 6,581 40,496 89,130 2,140 13,368 53,233,648 2846,733 13,214,380 3017,391 4734,317 3509,161 2773,014 9372,217 2217,843 1137,915 2279,660 2116,495 6014,522 103,878 -vr.™ 5,899 2/29,565 7,142 9,211 5,279 4,658 14,800 3,830 2,484 4,036 5,382 11,592 28,392,489 1696,935 FEDERAL RESERVE AGENTS' ACCOUNTS 6,735,419 1786,883 2683,697 2236,663 1356,355 5435,552 1265,576 12,253,000 700,000 —— 37,598 17,165,000 1150,000 29,455,598 1850,000 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 140,000 300,000 283,000 1500,000 —— 11,160 —— —— —— —— 5,650 —— 20,786 — *~ —— 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 1851,160 2730,000 2265,000 1425,000 5600,000 1350,650 565,000 1140,788 808,000 1000,000 VWU uxux pa UiUUo U* V UtlCJL J; "GLGx cLJL AcSci Vc DSLIIxxb • $7^,313,000 participations of other Federal Reserve Banks. 535,063 1096,221 787,027 2777,098
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