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H.4.1 BOARD 6? GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release July 3, 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 bank reserves for the week ending July 2 decreased $124 million to $18,859 million. Estimated required reserves decreased $108 million; and estimated excess reserves decreased $16 million to $ 6 8 3 million. Excess reserves exceeded member bank "borrowings at the Federal Reserve Banks by $ 5 8 6 million, compared with $600 million the week before. The principal changes reducing average reserves were decreases of $209 million in Federal Reserve float, $108 million in U. S, Government securities held under repurchase agreement, and $25 million in gold stock, and increases of $188 million in money in circulation and $1?6 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $528 million in U« S. Government securities bought outright and a decrease of $39 million in other" F. R. accounts (net), Total Reserve Bank credit increased $210 million. ^•s °£ Wednesday, July 2, holdings of U. S. Government securities bought outright were $502 million higher than a week earlier, U. S. Government securities Apn61* repurchase agreement were $44 million lower, and member bank borrowings were $48 million lower. Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * L e s s than $500,000. 3 +528 -108 +2,388 64 44 2 + 1 2 + + 97 - 2 - * . 815 2 6 , 3 8 0 21,349 5,203 52,932 31,163 6 8 7 446 268 4 0 5 1,105 34,073 18,859 1 8 , 1 7 6 6 8 3 - — -209 +210 - 25 - 1 +188 -11 + 6 - 12 +176 - 39 23 1 970 1 - 383 + 993 -1,274 + 9 6 - 1 8 5 + 13 - 7 6 - 100 - 1 5 2 + 1 0 9 + 2 8 + 3 0 8 H 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) 25,419 OD 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 For week ending Change from week ending u July 2, 1958 I June 25, 1958 July 3, 1957 (In millions of dollars) I Member bank reserves, Reserve Bank credit, and related items -124 -108 - 16 + 345 339 6 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 21,306 Treasury cash holdings 675 Treasury currency outstanding 5,202 Member bank) - Required (est.) 18,203 Money in circulation 31,358 reserves ) - Excess (est.) 534 On July 2, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,946 million, a decrease of $53 million for the week and a decrease of $812 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 3, June 25, 1958 1957 July 2, 1958 ASS ETS 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 19,889,393 842,389 20,731,782 262,425 330,602 80,139 343 10,000 34,998 44,998 -1,206,998 5,760 -1,212,758 • 7 5 , 8 2 8 + - 2 0 , 6 2 5 • 47,840 - h - 24 43,248 5 6 0 + 17,827 -1,026,174 387 + 21,323 8 9 0 502,450 +2,289,681 +2,289,681 25,458,172 502,450 44,000 +_ 458,450 25,581,902 + 410,634 + + + 141,880 633 14,369 152,305 2,722,810 19,946,105 2,789,257 25,458,172 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 . 4,956,312 88,894 208,272 52,160,204 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 18,736,740 468,022 255,916 387,098 19,847,776 55,635 12,497 2,489 103,420 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,067,858 13,145 50,778,853 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 353,795 809,198 27,543 190,815 52,160,204 26,850,074 Ratio of gold certificate reserves to deposit and F. R» note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 2 8 0 , 6 1 9 1 6 9 , 0 6 3 +8,583,906 -8,571,413 12,493 - 235,800 +2,053,881 +1,047,753 „ 7 66,515 + 9,620 2 6 , 3 0 2 - 229,822 - 43,418 - 283,473 84,290 - 1 5 8 , 2 6 7 + 1 2 2 , 6 2 1 - 403,409 - 234,322 10,535 + 139,182 + - 213,209 2,496 236,114 666 + + 6 1 , 6 0 5 - 76,146 2297822 + 12,457 152,305 20,833 2.1# 44,4$ 114,788 991 253 50,556 790 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 2, 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 l6 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 77,348 2,791 Industrial Acceptances loans 162 14,343 20 28,905 72 89 U. S. Government securities 553,300 9,111,843 13,364,558 1,013,614 5 6 , 6 1 0 80,139 1,358,247 25,458,172 H.4.1(b) Total STATEMENT OF C0NDIT1CON OF EACH FEDERA] RESERVE BANK ON JULY 2. 1958 St. ClevePhilaBoston New York Richmond Atlanta J Chicago Louis delphia land Minneapolis Kansas City Dallas San Francisco 421,961 790,271 6 9 2 , 8 8 4 2 2 9 5 , 6 1 7 21,558 40,531 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. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total jBeld under repurchase agreement 19,889,393 842,389 20,731,782 1 0 2 5 , 0 7 5 5,645,009 53,378 1 0 7 8 , 4 5 3 170,360 1 0 3 1 , 8 1 8 56,459 1644,464 75,215 5,815,369 1088,277 1719,679 1 1 7 7 , 8 1 0 78,666 1 2 5 6 , 4 7 6 8 2 0 , 6 8 1 46,792 10,245 22,482 57,092 2 0 , 0 4 6 1 6 , 6 8 8 1 6 , 1 7 2 5 8 , 6 0 5 1 7 , 8 0 9 36,970 17,007 51,925 31,584 80,139 343 3,640 327 3,920 9 , 1 0 0 5 , 4 5 0 2 , 8 4 0 2,722,810 20,893 51,232 2 7 , 0 4 5 7 7 3 , 9 8 2 42,011 8 1 5 , 9 9 3 6,978 19,090 1 , 3 4 0 443,519 8 3 0 , 8 0 2 27,646 7 2 0 , 5 3 0 14,880 9,199 5,277 9,913 15,312 15,405 2,633 21,661 800 77,395 2373,012 26,917 41,306 1 6 43,248 43,248 19,946,105 152,378 867,473 3722,199 262,425 330,602 1 , 7 1 0 3 5 6 9 , 8 2 1 148,253 1 0 8 6 , 0 2 5 6 8 6 , 6 0 6 5,029,769 1 5 6 , 5 1 8 1 1 4 6 , 5 8 2 241,037 1765,729 177,233 1 2 9 8 , 3 3 2 138,544 1 0 1 4 , 9 1 8 475,620 3 4 8 4 , 1 8 6 111,075 8 1 3 , 6 8 1 57,280 4 1 9 , 6 0 6 116,217 1 0 6 , 6 5 5 8 5 1 , 3 6 0 7 8 1 , 3 0 9 307,772 2 2 5 4 , 6 0 8 jLjXyQoy 2,789,257 151,869 25,458,172 1386,147 diHrOfyxy ±Hr±9yc:v 7 0 3 , 3 6 1 160,338 246,919 181,558 141,926 487,227 113,785 6,419,736 1463,438 2253,685 1657,123 1295,388 4447,033 1038,541 5 8 , 6 7 8 119,054 535,564 1086,631 1 0 9 , 2 5 8 315,284 997,222 2877,664 Total U. S. Govt, sees. 25,458.172 1386,147 6,419,736 1463,438 2253,685 1657,123 1295,388 4447,033 1038,541 535,564 1 0 8 6 , 6 3 1 997,222 2877,664 Total loans & securities 25,581,902 1 3 9 0 , 1 1 4 6 , 4 6 6 , 9 0 4 538,213 1 1 0 8 , 2 9 2 9 9 8 , 0 2 2 15 4,956,312 88,894 3 6 0 , 6 8 9 Due. from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 208,272 1 4,803 11,190 1 / 4 9 4 4 J 6 4 4 1 0 , 6 6 6 51,143 1 4 6 5 , 1 4 8 1 307,013 4,379 11,757 2 2 6 2 , 7 8 5 1 457,498 9,915 18,781 1 401,630 6 , 7 8 8 13,433 1 2 9 8 , 2 2 8 1 4 0 6 , 0 4 1 8,339 10,688 4 4 7 4 , 0 7 8 2 7 6 8 , 1 7 6 8,084 37,805 1 0 3 9 , 8 8 1 1 203,054 6,733 8,354 2 / 124,875 5,278 4,506 1 247,038 4,882 9,350 52,160,204 2877,977 13,404,427 2914,430 4522,317 3374,080 2674,279 9082,469 2100,084 1140,470 2215,555 l/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1662,573 1 2 5 2 , 8 1 2 7,470 8,230 2 0 1 7 , 7 8 2 2 8 7 7 , 6 6 4 1 482,842 11,557 23,035 5836,334 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M OH JULY 2. 1958 Total Boston | New York EictoBond Atlanta Deferred availability cash items Other liabilities and -accrued dividends TOTAL LIABILITIES "Sty* Dallas FranSsco (In thousands of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member tank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Chicago 26,850,074 1604,491 18,736,740 468,022 255,916 387,098 19,847,776 816,912 37,918 14,592 354 869,776 4,067,858 322,876 6,382,965 1682,571 2477,818 2064,812 1280,289 5172,070 1183,450 545,268 1066,731 5,505,835 829,402 1476,380 49,281 19,732 32,026 2/ 72,108 17,664 22,784 329,088 9,690 1,353 5",956,312 876,458 1532,543 682,846 260,004 387,028 804,545 83,654 13,056 2,897 904,152 968,639 2939,148 677,778 14,046 76,456 16,612 11,520 36,608 9,472 1,397 870 890 995,6U2 3053,082 YU4,V>z 426,089 21,006 6,144 319 852,296 37,478 9,984 1,401 453,558 9 0 1 , 1 5 9 331,169 332,620 166,488 192,133 653,976 158,135 722,851 2666,758 969,299 2470,417 23,191 56,622 13,312 28,672 1,967 36,872 iwy,yw 216,151 424,432 873 3.236 617 1.881 586 561 2,357 471 508 508 415 1,132 13.145 50,778,853 2798,016 13,025,359 2819,680 4399,270 3300,719 2609,072 8881,485 2046,808 1105,822 2160,531 1947,186 5684,905 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. 353,795 809,198 27,543 190,815 17,844 47,013 3,011 12,093 103,545 223,963 7,319 44,241 21,531 55,923 4,489 12,807 33,370 71,550 1,006 17,121 15,928 41,236 3,349 12,848 17,783 36,192 762 10,470 48,729 121,504 1,429 29,322 11,896 31,586 521 9,273 14,321 30,533 1,137 9,033 19,963 40,871 1,307 8,455 40,743 89,130 2,140 19,416 52,160,204 2877,977 13,404,427 2914,430 4522,317 3374,080 2674,279 9(82,469 2100,084 1140,470 2215,555 2017,782 5836,334 114,785 991 6,544 2/32,362 7,921 10,217 5,855 5,166 16,416 4,248 FEDERAL RESERVE AGENTS' ACCOUNTS 1636,430 6,554,190 1732,950 2550,897 2132,950 1323,055 5266,156 1220,485 27,606,523 F, R. notes outstanding Collat. for F. R. notes: Gold certificate acct. 11,648,000 700,600 3,270,000 640,000 1070,000 775,000 425,000 2300,000 430,C00 1,710 —1,340 Eligible paper 24,711 U. S. Govt, securities 17.420.000 1150.000 3.600.000 1200.000 1600,000 1400,000 1000,000 3100,000 900,000 29.092.Till 1850.000 6.370.000 1841,710 2670.000 2175,000 1425,000 5400,000 1331,340 Total collateral - / — : J. ^ ' 1/ After deducting $183,808,000participations of other Federal Reserve Banks. 2/ After deducting $ 82,426,COO participations of other Federal Reserve Banks. .8,142 19,697 1,073 5,736 2,755 4,477 5,970 12,857 559,458 1091,188 762,234 2776,530 155,000 283,000 1300,000 300,000 21,661 425,000 820,000 580,000 1141,661 525,000 1700,000 808,000 3000,000
@FedFRASER