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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release January 2, 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 tank reserves for the week ending January 1 increased $4l million to $19,707 million. Estimated required reserves increased $31 million; and estimated excess reserves increased $10 million to $724 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $68 million; the week before they were $67 million less than member bank borrowings. The principal changes supplying average reserves were increases of $276 million in U. S. Government securities held under repurchase agreement and $118 million bought outright, and decreases of $130 million in money in circulation and $25 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $344 million in Federal Reserve float and $125 million in member bank borrowings, and increases of $38 million in foreign deposits with Federal Reserve Banks and $22 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $64 million. As of Wednesday, January 1, holdings of U. S. Government securities bought outright were $84 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $135 million higher, and member bank borrowings were $738 million lower. Member bank reserves, Averages of daily figures Change from week ending Reserve Bank credit, For week ending Dec. 25, 1997 I Jan. 2, 1957 and related items Jan, 1, 1958 (In millions Of dollars) Reserve Bank credit: U. S, Government securities+118 Bought outright—System account -875 23,735 Held under repurchase agreement 609 4276 +225 Acceptances+ 8 Bought outright 42 + 5 Held under repurchase agreement - 10 + 4 24 Loans, discounts, and advancesMember bank borrowings -244 656 -125 Other 6 - 20 Float -344 + 13 1,550 Total Reserve Bank credit 26,623 -901 Gold stock + 4 +825 22,774 Treasury currency outstanding + 81 + 2 5,147 + k 54,544 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) 31,959 776 458 397 201 1,045 34,837 -130 + 12 - 25 + 38 + 22 - l6 - 99 +130 - 1 + 63 + 23 -134 + 72 +153 Member bank reservesRequired reserves (estimated) Excess reserves (estimated) 19,707 18,983 724 + 41 + 31 + 10 -149 -127 - 22 For Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached, which is published as of December 31, because of the holiday and does not reflect accruals for Wednesday, January 1. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 22,781 Treasury cash holdings 780 Treasury currency outstanding 5,146 Member bank) - Required (est,) 19,073 Money in circulation 31;815 reserves ) - Excess (est.) -39 On January 1, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,729 million, a decrease of million for the week and a decrease of $125 million from the comparable date Digitized $47 for FRASER a year ago, ^ 1 7 H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 2, Dec. 25, 1957 1957 Dec. 31, 1957 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F, Ri notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S, Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 21,215,392 869,249 22,084,641 443,288 338,622 55,364 482 + - + - 42,337 23,351 + 983,573 19,933,612 + 5 5 98,179 32,334 738,345 17 6,010 280 • 83,500 —- - 2,801,750 23,718,935 519,350 24,238,285 Total loans and securities Due from foreign "banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I E S Federal Reserve note's ~ Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends!/ TOTAL LIABILITIES C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS - + 7,783 383 737,697 +9',000,913 -9,153,913 + + + 83,500 135,150 218,650 - 27,534,791 - 175,880 19,033,795 480,810 356,342 246,284 20,117,231 4,070,844 14,948 51,737,814 — - + - + + - - + - 410,519 134,370 29,658 65,977 239,830 7,592 10,802* 418,920* 345,106 809,198 27,543 108,806 53,028,467 + + 46.3$ + .4# 76,114 1,109 + 7,968 519 61,605 ~ + - - 890,697 310,350 580,347 888,338 7 - + - 324,095 I0,4cd 32,255 324,759 107,623 - + + * ~ *• + 4" 351,758 103,92b 65,68b 75,532 257,67a 250,890 2,03C 402,975 19,348 61,605 — - 102,419* 459,215 - 2,73" 324,759 1—1 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments * December 25 figures revised. 1/ No accrued dividends December 31, 1957* + + + 841,001 25,701 815,300 64,155 30,073 315,080 311 - - 513,982 3 88,780 132 13,168 459,215 24,359,819 15 5,494,735 83,763 223,584 53,028,467 - + 25,857 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 31, 1957 (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 Says 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years http://fraser.stlouisfed.org/ Total Federal Reserve Bank of St. Louis Discounts and advances 46,700 8,664 55,364 Industrial Acceptances loans 69 34,371 20 31,317 260 133 U. S. Government securities 674,850 6,335,C66 14,439,112 1,374,400 56,610 1,358,247 24,238,285 E,4.l(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF COHDITIOM OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1957 CleveSt. Boston New York Pkiladelphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 21,215,392 1010,595 5,522,298 1182,730 1943,736 1347,887 830,921 3805,144 908,740 390,876 843,470 808,001 2620,994 869.249 56.043 182.497 60,901 79,558 73.569 48,919 157,090 43.349 22.171 41.597 28,495 75.060 22,084,641 1066,638 5,704,795 1243,631 2023,294 1421,456 879,840 3962,234 952,089 413,047 885,067 836,496 2696,054 56,404 24,744 37,731 56,959 17,588 25,649 23,008 8,359 10,162 12,492 21,148 12,829 36,659 47,935 Discounts and advances 740 4,695 5,490 4,200 4,265 3,275 55,364 Industrial loans 482 285 173 Acceptances: Bought outright 42,337 42,337 Held under rep, agree. 23,351 23,351 U. S. Govt, securities: Bought outright— Bills 53,650 245,973 57,413 86,395 62,844 983,573 50,946 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 Notes Bonds 2,801,750 152,824 700,664 163,547 246,100 179,012 145,122 Total 23,718,935 1293,773 5,931,655 1384,545 2083,424 1515,474 1228,570 Held under rep. agree. 519,350 519,350 9,460 435 120 24 7,099 14,825 760 F.R. notes of other Banks Other cash Total U. S. Govt, sees. 443,288 338,622 31,701 19,863 95,949 66,417 38,556 15,056 28,480 22,701 45,902 25,618 171,684 40,675 21,226 42,228 38,545 111,994 3479,432 824,355 430,167 855,809 781,178 2269,720 489,048 115,866 4140,164 980,896 60,462 120,288 109,798 319,019 511,855 1018,325 929,521 2700,733 24.238,285 1293,773 6,451,005 1384,545 2083,424 1515.474 1228,570 4l40.l64 980.896 511,855 1018,325 929,521 2700.733 Total loans & securities 24,359,819 1294,798 6,521,388 1390,208 2087,624 1519,739 1231,845 4149,624 981,331 511,999 1025,424 944,346 2701,493 Due from foreign banks Uncollected cash items Bank premises Other assets 1 1 / 4 1 1 l 15 1 2 1 2 / 1 1 1 5,494,735 467,096 1,173,568 345,425 490,271 421,538 466,237 887,537 188,651 136,191 238,904 223,368 455,949 5,010 10,664 4,514 9,678 6,996 83,763 6,497 6,823 6,138 5,307 4,903 6,260 10,973 55.349 12.740 19.340 14.058 11,657 40,656 223.584 11.971 9.041 4.779 9.493 9.345 25.155 TOTAL ASSETS 53,028,467 2897,078 13,628,134 3050,131 4681,389 3455,308 2677,225 9141,566 2180,488 1102,690 2186,446 2053,793 5974,219 1 1/ After deducting $11,000 pc;reiput±ortG of other Federal R&serve Banks. 2/ Less than $500. 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 TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1957 St. Phila- Cleve- Richmond Atlanta Chicago Boston New York delphia Louis land (In thousands of dollars) Hinneapolis Kansas City 27,534,791 1638,156 6,500,863 1738,756 2624,653 2188,221 1305,420 5334,243 1226,564 494,826 1077,385 Dallas San Francisco 748,184 2657,520 19,033,795 777,422 5,716,993 874,741 1486,691 801,083 851,881 2905,986 699,440 433,491 804,111 996,223 2685,733 30,221 45,778 47,l6l 41,231 62,021 25,982 18,515 41,690 30,868 30,532 480,810 38,077 68,734 30,690 17,391 15,345 48,422 12,617 8,184 12,958 17,732 38,192 19,778 1/111,163 23,870 356,342 12.954 5,483 5.156 3.974 10.423 2.560 1.336 3.436 2.167 44.726 246.284 3,106 ~ 150.963 20,117,231 838,383 6,047,853 941,786 1568,642 870,791 912,431 3026,852 740,599 461,526 862,195 1046,990 2799,183 717,766 279,334 371,626 327,773 398,917 594,080 163,043 113,263 195,229 190,958 374,508 4,070,844 344,347 549 5,367 623 1,484 587 492 2,475 439 628 480 572 1,252 14,948 2821,435 13,271,849 2960,499 4566,405 3387,372 2617,260 8957,650 2130,645 1070,243 2135,289 1986,704 5832,463 51,737,814 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. 345,106 809,198 27,543 106,806 17,742 47,013 3,011 7,877 102,215 223,963 7,319 22,788 21,192 55,923 4,489 8.028 32,514 71,550 1,006 9,914 15,695 41,236 3,349 7,656 16,562 46,570 36,192 121,504 762 1,429 6.449 14,413 11,577 31,586 521 6, # 9 7,426 19,697 1,073 4.251 13,781 30,533 1,137 5,7# 19,405 40,871 1,307 5,596 40,427 89,130 2,l4o 10,059 53,028,467 2897,078 13,628,134 3050,131 4681,389 3455,308 2677,225 9141,566 2180,488 1102,690 2186,446 2053,793 5974,219 5,327 6,849 3,881 3,425 10,806 2,816 1,826 2,892 3,957 8,523 £0 |f —— —— Ov —— —— y*+\J -— — FEDERAL RESERVE AGENTS* ACCOUNTS 28,643,2% 1702,333 6,795,945 1800,791 2700,128 2266,546 1374,708 5472,919 1280,689 534,419 1109,605 792,868 2812,335 76,114 1,1U9 4,4l4 •* 2/21,398 —— F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 12,273,000 700,000 3,270,000 640,000 1130,000 945,000 425,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper —— —— 5,l4o —— —— —— —— 250 —— 6,909 — — 12,299 U» S. Govt, securities 17.l65.000 1150.000 1.600.000 1200.000 1600.000 1350.000 1000.000 3100.000 895.000 425.000 820.000 525.000 1500.000 Total collateral 29,450,299 1850,000 6.870,000 1845.140 2730.000 2295.000 1425,000 5600.000 1345.250 555.000 1126.909 808.000 3000.000 l/ After deducting $245,179,000 participations of other Federal Reserve Banks. 2/ After deducting $54,716,000 participations of other Federal Reserve Banks.
@FedFRASER