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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release July 2, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAH CREDIT, AM) RELATED ITEMS and. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ended July 1 decreased $24l million to $18,386 million. Estimated required reserves decreased $111 million; and estimated excess reserves decreased $130 million to $369 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $552 million, compared with $377 million the week before. The principal changes reducing average reserves were decreases of $305 million in gold stock and $224 million in Federal Reserve float, and increases of $44 million in money in circulation and $37 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $217 million in Treasury cash holdings and $48 million in "other" F. R. accounts (net), and increases of $75 million in Federal Reserve holdings of U. S. Government securities and $45 million in member bank borrowings. The decreases in average gold stock and Treasury cash holdings reflect the $343,750,000 gold payment to the International Monetary Fund from the Treasury's holdings of gold in its operating balance during the preceding week. Total Reserve Bank credit decreased $105 million. As of Wednesday, July 1, holdings of U. S. Government securities bought outright were $180 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $19 million higher, and member bank borrowings were $306 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities-Bought outright--System account Held under repurchase agreement Ac ceptanc e s - Bought outright Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Week ended Change from week ended Wednesday, July 1, June 24, July 2, July 1, 1959 1958 1959 1959 (In millions of dollars) 26,018 27 82 7 27 24 26,099 19 17 2 25 + 824 + 17 + 217 +17562 -1,637 586 17 + + - + 45 - 1 -224 599 921 17 1,032 20,042 19,712 5,293T"$-> 53,04#—-&1 -305 + 4 ^5o5 + 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) 31,85^.2409—• 1 552 296 353 1,190 4 34,65# + 44 -217 + 37 + 13 + 4 - 48 ^157 + 695 - 278 + 106 + 28 52 + 85 + 5S5 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,386 10,017 369 -241 - -111 -105 -130 + - 88 113 473 107 286 880 27,627 19,704 5,290-6 ) 52,623r- ir 31,978""1 409 567 288 386 1,#; 347809-^ 17,812 18,069 -257 On July 1, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,895 million, a decrease of $14 million for the week and an increase of $949 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) July 1, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Change since June 5 ^ July 2, 1959 1958 18,494,14$ 921,949 19,416,094 290,539 361,204 603,422 1 25,396 2,097,900 18,649,726 2,867,565 2,483,771 26,095,962 18,750 26,117,712 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS +179,700 + 30,602 + - 523,283 342 17,852 - 624,910 -1,296,379 +2,867,565 + + + •107,365 +1,164,629 52,788T%%2 +113,387 305 + 13,177 -114.017 + + + 735,821 6,897 22,117 628,258"" 27,459,793 +152,276 + 609,719 17,812,479 567,039 288,067 -375,550 + 35,030 - 49,407 + 22,858 -367,069 +143,969 - 9,368 + 924,261 99,017 5,692,133 95,791 186,155 386,436 19,054,021 4,811,698 30,589 51, 356|101 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 - 5,746 -305,814 -1,395,248 + 79,560 -1,315,688 + 28,114 +179,700 + 18,750 +198,450 26,746,531 „ 15 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 - 66,997 + 161 - 66,836 - 60,329 379,952 868,410 183,999 52,788,462 - 80,192 + 476 - 34,301 -114,017 + . 305,486 640,790 18,750 659,540 - 793,755 + + + 743,840 17,444 577,248 1/+ 26,157 31,669 6,816 628,258 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.7$ 2.7# Contingent liability on acceptances purchased for foreign correspondents 75,785 - 1,649 • 39,003 '360 Industrial loan commitments 631 1/ Net change after elimination of Sec. 13b surplus of $27, 543,000 on Sept. 2, 1958, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 1, 1959 (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 573,494 29,738 190 603,422 Industrial loans Acceptances 7,371 18,025 25,396 U. S. Government securities 311,850 9,321,733 11,132,793 3,881,179 410,385 1,059,772 26,117,712 H. 4.1(b) Total ASSETS STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JULY 1, 1959 St. Phila- CleveBoston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City | San Dallas (Francisco Gold certificate account 18,494,145 948,762 4,899,729 1032,215 1649,595 987,659 902,473 3194,609 721,355 396,274 674,509 649,968 2436,997 Redemption fund for 195,551 59,547 83,210 81,554 53,637 172,528 43,193 22,756 44,333 28,908 82,118 F. R. notes 92.1,^9 54,614 Total gold certificate 19,416,094 1003,376 5,095,280 1091,762 1732,805 1069,213 956,110 3367,137 764,548 419,030 718,842 678,876 2519,115 reserves F.R. notes of other Banks Other cash 290,539 361,204 17,566 23,016 62,754 66,473 16,107 18,600 12,353 32,459 25,282 21,081 47,481 33,418 24,961 55,959 10,069 24,623 12,651 10,270 17,317 13,854 15,270 14,423 28,728 47,028 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 603,422 1 25,550 78,260 11,887 42,250 33,258 87,599 107,798 11,854 24,272 124,168 27,672 28,854 113,737 527,941 119,635 181,632 134,449 1011,095 4,693,241 1063,519 1614,656 1195,224 155,465 721,628 163,526 248,268 183,777 134,658 _ 625,046 141,639 215,040 159,180 1415,955 6,567,85614887319 2259,596"i672,630 110,568 363,047 982,915 3227,372 151,132 496,238 130,905 429,821 1375,520 4516,478 85,322 47,783 90,430 83,736 758,484 424,785 803,897 744,385 116,624 65,315 123,606 114,456 101,015 56,573 107,063 99,137 1061,445 594,456 1124,996 1041,714 239,620 2130,153 327,530 283,694 2980,997 25,396 2,097,900 18,649,726 2,867,565 2,483,771 26,098,962 1M50 18,750 Total U. S. Govt, sees. 26,117,712 1414,955 6,586,606 1488,319 2259,596 1672,630 1375,520 4516,478 1061,445 594,456 1124,996 104l,7l4 2980,997 Total loans & securities 26,746,531 1440,505 6,690,262 1500,206 2301,846 1705,888 1463,119 4624,276 1073,299 618,729 1249,164 1069,386 3009,851 Due from foreign banks Uncollected cash items Bank premises Other assets l l / 4 1 1 l l 2 1 2 / 1 1 l 15 5,692,133 407,115 1,067,563 350,195 524,080 448,178 472,128 928,757 231,812 153,"685 265,261 256,276 587,083 4,497 10,143 4,119 9,296 6,992 9,771 13,076 6,965 5,153 4,701 8,753 12,325 95,791 45,319 10,405 16,287 11,816 10,838 31,042 7,749 4,191 8,899 7,485 21,919 186,155 10,205 TOTAL ASSETS 52,788,462 2906,281 13,037,798 2991,395 4629,127 3288,451 2992,866 9045,210 2119,066 1223,709 2278,039 2050,470 6226,050 l/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 8TATEMSHT Off CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 1, 1959 St. Phila- CleveBoston Mew York delphia land Richmond Atlanta Chicago Louis (In thousands of dollarsJ H.4.1(c) Total LIABILITIES 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 Minneapolis Kansas City San Dallas Francisco 27,459,793 1599,331 6,385,812 17U7,779 2521,428 2056,578 1489,9^5 5227,137 1202,516 613,595 1103,505 781,579 2730,588 17,812,479 795,510 4,853,927 802,899 1467,481 736,712 962,683 2701,733 637,443 406,024 845,489 937,135 2665,443 137,968 31,317 41,768 38,058 40,267 71,190 31,343 26,462 39,137 19,495 49,520 567,039 40,514 22,770 12,650 11,891 37,444 9,361 6,072 9,867 13,156 28,336 288,067 13,915 1/105,907 16,698 1,028 46,967 848 324,371 l,4l8 1,263 2,770 2,938 600 484 1,296 2,453 386,436 19;054,021 850,787 5,422,173 852,332 1533,202 790,190 1017,779 2010,967 678,631 *39,05% 096,946 970,814 2790,266 4,811,698 373,864 830,508 295,227 442,463 365,858 4l4,532 789,624 181,497 134,148 218,908 223,536 541,533 1,093 950 1,251 1,035 2,857 1,711 8,883 1,510 2,974 1,550 1,444 5,331 30,589 2825,693 12,647,376 2896,843"4500,147 3215^76 2923,700 0033,059 2063,737 1100,547 2220,610 1976,964 6065,244 51,356,101 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. 379,952 868,410 183,999 18,827 109,597 22,554 11,645 41,923 12,386 50,116 238,902 59,607 35,942 17,016 19,524 52,083 12,701 16,395 12,413 10,168 27,909 8,832 76,643 44,846 39,474 132,159 33,746 15,511 5,722 8,983 32,935 21,845 43,436 8,225 45,697 95,761 19,348 52,788,462 2906,281 13,037,798 2991,395 4629,127 3288,451 2992,866 9045,210 2119,066 1223,709 2278,039 2050,470 6226,050 75,785 360 4,169 2/21,209 5,003 6,822 20 3,790 3,562 11,218 2,805 1,819 2,956 340 3,942 8,490 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,318,132 1645,020 "67617,417 1796,303 2571,507 2124,430 1547,960 5328,373 1245,038 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 Eligible paper 11,225 10,765 — 145,495 U. S. Govt, securities 18.710.000 1150.000 4.000.000 1200.000 1750.000 1500.000 1100,000 S500,000 935.000 Total collateral 29,605,495 1730,000 6,920,000 1850; 765 2670,000 OJO,000 l600,000 5500,000 1376,225 l/ After dedueting~!pl&2," 155J 00C~particxp'ations ~o?~othe.r . 2/ After deducting $54,576,000 participations of other Federal Reserve Banks. 8,655 20,785 627,040 1130,014 823,202 2053,020 200,000 300,000 290,000 1300,000 — 123,505 450.000 850,000 575.000 1700.000 650,000 1273,505 865,000 3000,000
@FedFRASER