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H.U.I BOARD OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM For Immediate Release June 11, 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 ended June 10 decreased $10 million to $l8,314 million. Estimated required reserves decreased $138 million; and estimated excess reserves increased $128 million to $45^ million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $525 million, compared with $523 million the week before. . . '^ie Principal changes reducing average reserves were decreases of $79 million i n federal Reserve float and $47 million in gold stock, and an increase of $162 million in money in circulation. The principal offsetting changes were increases of $130 million in member bank borrowings and $34 million in U. S. Government securities bought outright, and decreases of $72 million in Treasury deposits with Federal Reserve Banks and $37 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $86 million. As of Wednesday, June 10, holdings of U. S. Government securities bought outright were $40 million higher than a week earlier and member bank borrowings were $174 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement Acceptances—bought outright Loans, discounts, and advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Week ended Change from week ended Wednesday. June 10, June 11, June 3, June 10, 1959 1958 1959 1959 (In mjillions of dollars) 25,939 — + 34 — — 27 +130 +1,548 6 17 25,944 + + 795 17 4l +2, 296 -1,453 + 72 + 915 889 17 700 27,576 20,137 5,279 52,992 + + + mm mm 26 979 17 774 27,736 20,l4l 5,275 53,151 + + + 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) 31,803 716 476 260 364 l, 218 34,837 +162 + 12 - 72 - 37 - 12 - 1 + 53 + + 751 7 52 7 6 79 875 31,832 717 4l4 258 352 1,217 34,791 Member bank reservesRequired reserves (estimated) Excess reserves (estimated) 18,314 17,860 454 - 10 -138 +128 + 40 + 173 - 133 18,201 17,885 316 - - 79 86 47 4 42 On June 10, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,858 million, an increase of $97 million for the week and an increase of $786 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) ASSETS 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 Total loans and securities Due from foreign "banks Uncollected cash items Bank premises Other assets TOTAL ASSETS Change since June 3, June 11, 1958 1959 June 10, 1959 18,636,892 912,028 19,358,920 297,017 345,882 905,700 2 26,394 55,002 1,024 557025 1,379 7,528 174,429 -1,546,502 + 84,922 -1,461,580 16,304 + 18,988 + 732,936 488 - 15,835 1,943,400 18,649,726 2,867,565 2,483,771 25,944,462 + 39,900 + 39,900 25,944,462 + 39,900" + 170,140 -1,296,37? +2,867, 565 - 305,486 +1,435,840 z—1*900 +1,427,940 26,876,558 15 4,877,143 96,173 167,229 52,208,937 + 214,328 +2,144,553 - 131,107 + 547 + 12,629 + 34,222 + 193,696 + 8,567 - 19,936 + 867,9ffi 27,325,848 + 134,047 + 718,072 18,200,555 + 101,791 - 60,251 - 95,953 38,443 - 92,856 - 19,552 + 6 04 + 22,243 - 277,624 + 58,282 914 - 24,70s - 244,965 + 327,0b7 + 17,131 + 817,311 LIABILITIES 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 4l4,091 258,021 352,356 19,225,023 4,177,555 38,982 50,767,408 CAPITAL ACCOUNTS Capital paid-in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 378,705 868,410 194,4i4 52,206,937 4- + 397 + 26,947 l/+ 31,669 11,582 7,94; 34,222 + 667,9^4 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.0% Contingent liability on acceptances purchased for foreign correspondents 81,035 + 1,402 - 30,895 Industrial loan commitments 360 631 y Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 195& MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 10, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 896,457 1 182,000 57530 16 days to 90 days 9,096 1 19,864 9,382,933 91 days to 1 year 147 11,028,193 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 905,700 25,39% 25,944,552 H. 4.1(b) Total Boston New York Phils- T Clevedelphia j land Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Sen Dallas Francisco ASSETS Gold certificate account 18,636,892 795,361 5,281,037 1032,031 1567,039 967,919 912,506 3246,784 734,903 409,242 673,926 673,603 2342,541 Redemption fund for 186,561 57,873 83,523 82,622 53,896 172,875 43,294 22,869 42,420 28,969 82,296 912,028 54,830 F. R. notes Total gold certificate 19,548,920 850,191 5,467,598 1089,904 1650,562 1050,541 966,402 3419,659 778,197 432,111 716,346 702,572 2424,837 reserves F.R. notes of other Banks Other cash 297,017 345,882 20,791 24,390 83,391 67,181 14,285 16,111 9,269 32,517 29,648 20,995 47,217 29,086 23,375 55,771 8,301 20,399 10,348 10,766 6,226 11,801 14,224 32,365 43,366 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 905,700 2 54,167 83,675 56,507 88,580 96,355 59,099 239,565 10,849 23,177 104,183 2 25,539 64,004 79,038 44,264 83,770 77,569 758,484 424,785 803,897 744,385 116,624 65,315 123,606 114,456 101,015 56,573 107,063 99,137 1055,161 590,937 1118,336 1035,547 221,973 2130,153 327,530 283,694 2963,350 26,394 1,943,400 18,649,726 2,867,565 2,483,771 25,944,462 11,076 26,394 489,061 110,825 168,256 124,548 102,425 105,361 1011,095 4,693,241 1063,519 1614,656 1195,224 982,915 721,628 163,526 248,268 183,777 151,132 155,465 625,046 141,639 215, o4o 159,180 130,905 134,658 l4o6,579 6,528,976 1479,509 2246,220 1662,729 1367,377 336,310 3227,372 496,238 429,821 4489,?4l Total U. S. Govt, sees. 25.944.462 1406,579 6.528,976 1479,509 2246,220 1662,729 1367,377 4489,741 1055,161 590,937 1118,336 1035,547 2963,350 Total loans & securities 26,876,558 1460,746 6,639,045 1536,016 2334,800 1759,084 1426,476 4729,306 1066,010 6l4,116 1222,519 1061,086 3027,354 Due from foreign "banks Uncollected cash items Bank premises Other assets 1 1 / 4 1 1 1 1 2 1 2 / 1 1 1 15 858,297 302,969 430,429 405,891 414,338 781,834 214,582 144,192 254,789 228,827 490,630 4,877,143 350,365 4,532 10,182 4,137 9,336 7,001 9,784 13,132 6,930 5,188 4,715 8,780 12,456 96,173 9,217 41.004 9.277 14.666 10.682 9.788 28,021 6,925 3.812 8.046 6,730 19,06l 167.229 TOTAL ASSETS 52,208,937 2720,233 13,166,702 2972,700 4481,580 3283,843 2903,092 9051,100 2101,345 1220,533 2223,718 2034,021 6050,070 1/ After deducting $11,000 participations of other Federal Reserve 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 and accrued dividends TOTAL LIABILITIES S M E M I T OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUKE 10, 1959 PhilaCleveSt. Boston New York delphia land Richmond Atlanta Chicago Louis (In thousands of dollars) Minneapolis Kansas City San Dallas Francisco 27,325,848 1583,672 6,345,787 1735,447 2510,189 2030,808 1482,936 5211,765 1202,716 613,056 1106,287 773,158 2730,027 18,200,555 691,879 5,280,242 840,706 1405,656 805,277 948,700 2861,432 631,673 422,173 789,144 934,302 2589,371 64,686 414,091 24,284 19,611 27,017 19,156 31,443 40,582 28,782 19,515 45,218 39,888 53,909 258,021 13,750 1/78,021 16,500 22,500 12,500 11,750 37,000 6,000 9,250 9,750 13,000 28,000 1,220 300,063 2,644 554 807 1,206 352,356 2,439 2,021 485 780 39,202 935 19,225,023 730,467 5,723,012 878,037 1455,980 839,372 994,537 2940,220 670,640 448,173 846,133 987,970 2710,482 4,177,555 323,091 694,408 262,223 381,843 336,595 353,963 678,608 170,796 122,695 211,753 197,293 444,287 2,136 38,982 2,008 1,420 10,077 2,033 2,170 6,632 3,760 1,643 1,179 1,695 4,229 50,767,408 2639,366 12,773,284 2877,740 4351,772 3208,945 2833,444 8837,225 2045,572 1185,103 2165,816 1960,116 5889,025 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. 378,705 868,410 194,414 18,525 50,116 12,226 22,366 59,607 12,987 35,893 76,643 17,272 16,895 44,846 13,157 19,451 51,895 39,474 132,159 10,723 29,821 12,691 33,746 9,336 8,648 20,785 5,997 15,468 32,935 9,499 21,801 43,436 8,668 45,511 95,761 19,773 52,208,937 2720,233 13,166,702 2972,700 4481,580 3283,843 2903,092 9051,100 2101,345 1220,533 2223,718 2034,021 6050,070 81,035 360 4,455 - - F. R. notes outstanding 28,161,002 1641,748 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 Eligible paper 169,125 U. S. Govt, securities 18,710,000 1150,000 Total collateral ,29,629,125 ,1730,000 ±t After deducting $150,000,000 participations _2/ After deducting $58,320,000 participations 109,561 238,902 44,955 2/22,715 - - 5,346 7,290 20 4,050 3,807 11,988 - - — - — 2,997 — 1,944 3,159 340 4,212 " 9,072 — FEDERAL RESERVE AGENTS' ACCOUNTS 6,555,182 1776,353 2556,089 2108,087 1547,132 5302,503 1246,052 626,131 1130,190 814,721 2856,814 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 10,220 — 103,520 55,385 4,000.000 1200,000 1750,000 1500,000 1100,000 1500.000 Q3 5.000 450.000 850.000 575.000 1700.000 6,920,000 1895,385 2670,000 2170,000 1600,000 5500,000 1375,220 650,000 1253,520 865,000 3000,000 of other Federal Reserve Banks. ~ of other Federal Reserve Banks.
@FedFRASER