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BOABD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release January 2, 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 ending December 31 increased $7 million to $19,16? million. Estimated required reserves decreased $20 million; and estimated excess reserves increased $27 million to $659 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $131 million; the week before they were $7 million less than excess reserves. The principal changes supplying average reserves were increases of $165 million in Federal Reserve holdings of U. S. Government securities and $165 million in member bank borrowings, and a decrease of $77 million in money in circulation. The principal offsetting changes were a decrease of $326 million in Federal Reserve float and an increase of $93 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $21 million. As of bought outright securities held bank borrowings Wednesday, December 31, holdings of U. S. Government securities were $55 million higher than a week earlier, U. S. Government under repurchase agreement were $15 million lower, and member were $765 million lower. 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 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 Week ending Change from week ending Wednesday, Dec. 31/ Jan. 1, Dec. 24, Dec. 31, 1958 1958 1958 1958 (in millions of dollars) 26,241 196 42 4 + 53 +112 + + 2 2 s __ - 6 46 18 1,296 27,755 20,534 5,234 53,523 + + +165 + 12 -326 + 21 - 10 + 1 + 13 134 12 68 +2,287 2,248 + 85 + 124 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) 32,456^ 69ir"A 521 332 333 1,165 35,501 + + + + + Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 19,167 18,508 659 + 7 - 20 + 27 - + - + + + - 4 3 20 790 18 1,618 28,910 20,526 5,232 54,668 77 10 19 93 5 7 5 26,252 95 +2,506 413 4 9 4 79 63 65 132 120 664 54o 534 6 32,1^3 69? *3 358 272 391 1,122 .35,019 18,504 18,572 68 On December 31; 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,695 million, a decrease of $124 million for the week and a decreaseyf^3^ ^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) Change since Dec. 31, Dec. 241 1957 1958 Dec. 31, 1958 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 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 43,290 5,799 + 3,553 549 2,250,450 18,649,726 2,867,565 2,483,771 26,251,512 95,000 26,346,512 + 54,600 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 26,459,900 15 5,630,684 93,636 146,641 53,095,155 19,012,893 937,919 19,9507512 476,993 336,474 63,963 336 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 18,503,991 358,364 272,485 390,851 19,525,691 4,335,126 21,683 51,754,523 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 363,098 868,410 109,124 53,095,155 27,872,023 + + + + 4,998 10,000 1^7995 144,037 55,956 765,693 721,991 +2,100,081 - - - - 953 17,552 54,600 15,000 39,600 - - + + - +1,266,877 -1,283,886 +2,867,565 317,979 +2 ,532,577 424,350 +2,108,227 - - + -2,202,499 + 68,670 -2,133,829 + 33,705 2,148 + 8,599 146 — 4* 135,949 + 9,873 76,943 - 405,380 721 9,129 903,972 4- 66,688 - 220,354 4- 337,232 - - + - + 4- - + - + 529,804 122,446 83,857 144,567 591,540 264,282 6,735 16,709 4580 59,215 2/+ + 87,524 4903,972 17,992 31,669 318 66,688 573,834 126,399 35,932 78,546 585,755 57,689 12,445 876,243 - - 4- 44- Ratio of gold certificate reserves to deposit 4.2# + 42.1# • 7f» and F. R. note liabilities combined Contingent liability on acceptances purchased 8,315 2,784 67,799 for foreign correspondents 10 134 975 Industrial loan commitments 1/ No accrued dividends at end-of-year-dates. 2/ Net change after elimination of Sec. 13b surplus of $27,543,000 Sept. 2, 195^' MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 31, 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 43,595 20,368 3379^3 Industrial U. S. Government loans Acceptances securities 213 18 43 62 --335 15,869 33,220 -— —— — 49,089 742,200 7,093,743 13,159,233 3,881,179 206,495 1,263 ?662 26,346,512 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1958 St. Cleve Phila Richmond Atlanta Chicago Boston New York Louis land delphia (in thousands of dollars) E.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 19,012,893 8 8 8 , 1 5 6 937,919 5 5 , 6 7 1 19,950,812 9 4 3 , 8 2 7 198,412 5 , 4 7 5 , 7 7 9 41,061 F.R. notes of other Banks Other cash 476,993 336,474 19,758 Discounts and advances Industrial loans Acceptances: Bought outright Held under rep. agree. U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under rep. agree. 63,963 1,220 327 336 5 , 2 7 7 , 3 6 7 8 3 , 8 6 5 60,901 1 1 , 5 6 8 2 , 2 5 0 , 4 5 0 2 , 8 6 7 , 5 6 5 2,483,771 26,251,512 60,195 1 0 9 8 , 0 4 2 47,991 16,950 6 , 7 2 0 1 4 4 3 , 5 9 3 87,750 1 5 3 1 , 3 4 3 29,107 28,071 4 , 3 6 8 1033,459 8 6 4 , 7 4 2 3 3 2 6 , 2 2 7 7 5 3 , 4 9 0 4 5 8 , 3 8 3 8 5 , 8 0 3 57,037 1 6 7 , 6 3 4 44,66l 2 2 , 4 6 3 1 1 1 9 , 2 6 2 921,779 3 4 9 3 , 8 6 1 798,151 4 8 0 , 8 4 6 53,143 40,267 57,452 22,112 2,488 2 6 , 5 6 0 5 , 5 7 0 5 8 , 7 3 4 6,445 2 3 , 2 8 7 2 6 , 5 1 3 17,588 8,664 430 9 2 , 2 6 2 Kansas City 748,339 721,519 2459,771 43,533 7 9 1 , 8 7 2 1 2 2 , 5 3 2 5 6 7 , 4 9 1 1 0 1 5 , 4 4 0 4 ,7 7 0 2 , 8 6 4 1 5 6 , 1 3 4 7 2 3 , 1 0 9 ' - 1 3 5 , 2 3 6 6 2 6 , 3 2 7 1 4 2 9 , 3 4 2 6 , 6 1 9 , 7 9 1 28,333 43,582 1 4 , 6 8 7 3 8 , 8 6 2 1 9 , 2 0 6 1 , 6 8 1 2 , 0 0 5 1 9 9 , 2 2 1 1 4 6 , 4 8 7 1 1 4 , 5 1 0 3 9 3 , 1 0 8 1 6 5 0 , 9 6 7 1 2 1 3 , 9 4 8 9 4 8 , 9 5 4 3 2 5 7 , 7 3 4 — 2 : — 1 : 1 1 — 1 4 2 9 , 3 4 2 6,714,791 1 5 0 9 . 0 4 2 2 3 2 3 . 9 1 5 1 7 0 8 , 7 6 4 1 3 3 5 , 7 5 6 4585,614 1 0 7 0 , 9 0 4 552,253 1120,493 Total loans & securities 26,459,900 1 4 3 0 , 8 8 9 6,775,448 1 5 1 5 , 7 6 2 2 3 2 8 , 2 8 3 1 7 1 1 , 2 5 2 1 3 4 1 , 3 2 6 4 5 9 2 , 0 5 9 1 0 7 3 , 1 6 6 5 5 2 , 6 9 2 TOTAL ASSETS 1 1 / 4 1 1,2157353 332,939 4 , 7 0 5 1 0 , 3 1 3 4,245 7,884 36.477 8,181 5,630,684 4 0 5 , 5 0 6 53,095,155 2 8 5 3 , 6 3 1 1 3 , 6 5 8 , 1 4 0 3 0 2 4 , 1 1 1 1 1 1 2 3359,785 2813,787 9124,584 1 2 / 1 0 2 8 , 2 9 8 2967,340 1139,699 1029,979 2969,345 1 1 1 1213,379 2224,475 2080,8l4 6094,027 543,121 433,573 453,214 902,999 232,399 145,320 254,995 242,747 468,518 9,432 6 , 6 5 4 9,294 1 1 , 8 2 4 6 , 8 6 2 5,193 4,799 7 , 7 8 6 12,?29 12.768 9,479 8,470 24.838 5,917 3,076 7.>.,13Q 5.t9l1 16 y 4 4 8 2 , 1 2 6 1/ After deducting $11,000 participations of other Federal Reserve Banks 2 / Less than $500. 2 5 4 4 , 6 8 6 1 4 , 6 6 2 26,346,512 93,636 146,641 7 5 1 , 3 6 4 84,915 9 1 , 8 0 5 47,343 9 6 , 0 5 6 8 8 , 1 5 2 2 5 4 , 3 8 0 760,797 392,334 7 9 6 , 0 2 6 7 3 0 , 5 2 9 2 1 0 8 , 0 7 2 n £ r,7H QO C 122,396 TOO n o QOC 324,135 QOii 1 QR 6 0 , 3 2 5 112,325 164,839 2 5 3 , 8Or5--1. 1 8o/6-, 6y^5r-5r- 1-»4».5«-, 9 1 0rt 5 0 0 , 9r.0A'77 116,979 X t c , I I I 142,777 2 1 9 , 8 7 6 1 6 1 , 6 7 4 1 2 6 , 3 8 2 4 3 3 , 8 6 5 101,323 5 2 , 2 5 1 106,015 97,292 280,753 1 5 0 9 , 0 4 2 2 3 2 3 , 9 1 5 1 7 0 8 , 7 6 4 1 3 3 5 , 7 5 6 4 5 8 5 , 6 1 4 1 0 7 0 , 9 0 4 5 5 2 , 2 5 3 1120,493 1 0 2 8 , 2 9 8 2 9 6 7 , 3 4 0 1 2 9 , 3 6 5 1 0 7 2 , 0 6 1 9 5 , 0 0 0 9 5 , 0 0 0 15 2 9 , 8 4 5 11,317 Total U. S. Govt, sees. Due from foreign banks 'Uncollected cash items Bank premises Other assets San Francisco Dallas 43,290 5,799 43,290 5,799 18,649,726 1037,847 Minneapolis 2 1 6 6 , 2 9 6 h.4.1(c) Total L I A B I L I T I E S STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 31, 1958 Phil CleveSt, Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits 18,503,991 771,057 5,570,787 863,417 1344,045 764,580 846,398 2809,518 669,057 358,364 21,009 35,306 22,996 4,656 29,422 32,479 48,619 19,283 272,485 13,395 1/103,755 16,215 20,915 11,985 10,575 33,605 8,695 390,851 2,202 307,036 4,013 5,054 4.635 2.347 _ 8,4o4 3,l4l 1 9 , 5 2 5 , W 807,663 6,016,884 906,641 1374,^70810,622891,799 2900,146 700,176 Deferred availability cash items Other liabilities TOTAL LIABILITIES 4,335,126 338,324 755,659 275,287 413,145 343,293 380,576 721.508 174,787 129,777 200,590 196,451 4 0 5 , 7 2 9 21,683 1,069 1,253 5,376 1,080 1,853 1,130 3,967 848 792 933 710 2,672 51,754,523 2777,481 13,290,551 2934,572 4351,306 3290,802 2749,475 8928,302 2114,02? 1179,944 2170,964 2011,171 5945^931 27,872,023 1630,425 6,512,632 1751,391 2571,638 2135,757 1476,020 5302,681 1238,269 598,279 1101,081 798,613 2755,237 419,895 817,730 9 6 9 , 7 6 9 2657,738 24,459 38,271 30,630 51,234 5,640 9,165 12,220 26,320 961 3,279 2,778 47,001 450,955 868,445 1015,397 2782,293 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. 363,098 868,410 109,124 18,121 50,116 7,913 105,850 238,902 22,837 21,894 59,607 8,038 34,246 76,643 9,931 16,439 44,846 7,698 18,371 49,665 39,474 132,159 6,467 14,458 12,348 33,746 6,178 8,387 20,785 4,263 14,848 32,935 5,728 20,684 43,436 5,523 42,245 95,761 10,090 53,095,155 2853,631 13,658,140 3024,111 4482,126 3359,785 2813,787 9124,584 2166,296 1213,379 2224,475 2080,8i4 6094,027 67,799 975 3,864 2/19,119 4,678 6,034 35 3,458 3,051 9,695 2,509 1,627 2,644 940 3,526 7,594 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,057,573 1703,455 Collat. for F. R. notes: Gold certificate acct. 11,073,000 650,000 Eligible paper 25,393 , U. S. Govt, securities 18,615,000 1150,000 Total collateral 29,713,39311800,000 1/ After deducting $168,730,000 participations -/ After deducting $48,680,000 participations 6,827,935 1815,156 2645,549 2223,439 1556,710 5474,313 1 2 9 6 , " W 614,338 1137,662 849,075 2913,103 64o,ooo 640,000 920,000 725,000 475,000 2200,000 430,000 200,000 300,000 313,000 1300,00c 5,285 --— -1,600 18,508 4,000,000 1200,000 1750,000 1530,000 1100,000 3400,000 935,000 425,000 850,000 575,000 1700,000 6,920,000 1845,285 2670,000 2255,000 15"75TOC~O 5600,000 13^,600 625,000 1168,508 8E87oco 3000,000 ' ~ of other Federal Reserve Banks, of other Federal Reserve Banks. 2,920,000
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