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H.U.I BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release June 5, I958 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 June 4 decreased $47 million to $18,147 million. Estimated required reserves increased $55 millionj and estimated excess reserves decreased $102 million to $537 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $403 million, compared with $520 million the week before. . _ ^lae principal changes reducing average reserves were a decrease of $68 million in gold stock, and increases of $174 million in money in circulation, $93 million in "other" deposits with Federal Reserve Banks, and $34 million in other^ F. R. accounts (net). The principal offsetting changes were increases of $141 million in U. S. Government securities bought outright and $89 million in Federal Reserve float, and decreases of $38 million in foreign deposits with Federal Reserve Banks and $26 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $246 million. As of Wednesday, June 4, holdings of U. S. Government securities bought outright were $202 million higher than a week earlier and member bank borrowings were $30 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 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 June 4, 1958 May 28, 1958 \ June 5, 1957 (In millions of dollars) 24,194 +141 - - — «• 41 - 1 +1,244 - 160 + 20 134 1 869 25,240 21,593 5,202 52,035 + 15 + l + 89 +246 - 68 + 1 +179 - 754 13 85 + 253 -1,027 + 98 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) 30,987 711 411 238 484 1,057 33,888 +174 - 11 - 26 - 38 + 93 + 34 +226 + + + 150 81 74 119 161 15 22 Member bank reserves-Sequired reserves (estimated) Excess reserves (estimated) 18,147 17,610 537 - 47 + 55 -102 + 699 768 69 676 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 21,594 Treasury cash holdings 716 Treasury currency outstanding 5,201 Member bank) - Required (est.) 17,686 Money in circulation 30,988 reserves ) - Excess (est.) 498 On June 4, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,045 million, an increase of $7 million for the week and a decrease of $563 million from the comparable date a year ago. 3.4.1(a) STATEMENT OF CONDITION OP TEE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since June 5, May 25, 1957 1958 June 4, 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 U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,173,391 831,263 21,004,654 324,919 329,152 141,799 475 41,230 1,531,360 19,946,105 49,998 - -- - + + 49,998 6,794 8,246 30,374 12 471 + 202,000 ~ — 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 C A P I T A L A C C O U N T S Capital "paid fix" Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 3,370 396,019 289 - - 20,512 + +1,316,597 +8,583,906 + 202,000 24,266,722 + 202,000 -8,571,413 12,493 +1,316,597 157,800 +1,158,797 24,450,226 15 4,703,722 87,527 172,369 51,072,584 + 172,109 + + + - -- 783,001 7 - + + 225,060 + 314,883 186 132,608 289,532 + 31,258 83,839 26,567,293 + 11,555 + 85,991 18,184,260 416,218 271,624 364,939 19,237,041 3,868,018 21,497 49,693,849 + + - 351,564 36,465 + + + + 148,591 33,742 5,362 35,467 141,504 123,336 + 276,961 + 351,596 + 498 + + 809,198 27,543 190,398 51,072,584 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - + + 2,789,257 24,266,722 - - Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 916,003 9,678 925,681 19,989 ~ - 566 • w + 88,518 W + 95,642 307,975 258,443 398 36,061 - * 19,422 61,605 mm + + 12,073 289,532 45.9& 110,626 1,006 9,365 - - - + i 33,249 83,839 .2# - 1.7# 9,674 30 + 48,033 797 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 4, 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 138,609 3,183 7 141,799 Industrial loans Acceptances 1^,091 153 150 25,139 77 95 575 41,230 U. S. Government securities 256,010 7,856,897 13,725,344 1,013,614 56,610 1,358,247 24,266,722 H.4.l(b) Total Boston New York Philadelphia A S S E T S Gold certificate account 20,173,391 997,022 Redemption fund for F. R. notes 831,263 53,833 Total gold certificate reserves 21,004,654 1050,855 Atlanta Chicago lald" | R i c h m O D d (In thousands of dollars) G St. Louis Minneapolis Kansas City Dallas San Francisci 5,530,986 1109,848 1664,363 1165,947 804,326 3771,306 775,914 438,78? 806,630 702,516 2405,746 172,46? 57,220 75,971 71,264 47,122 148,162 42,234 21,690 40,696 27,789 72,815 5,703,453 1167,068 1740,334 1237,211 851,448 3919,468 818,148 460,477 847,326 730,305 2478,561 F.R. notes of other Banks Other cash 324,919 329,152 16,421 23,846 89,363 59,418 23,356 24,122 33,264 34,586 l4,64l 17,573 50,461 28,104 22,890 49,14? 9,291 17,499 12,752 8,872 4,528 8,819 16,676 14,306 31,276 42,860 Discounts and advances Industrial loans Acceptances-Bought outright U. S< Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 141,799 475 9,765 32? 22,485 8,170 130 21,185 8,402 17,100 8,933 13,650 3,600 18 23,559 4,750 200 41,230 - - 1,531,360 83,380 19,946,105 1086,025 41,230 -- -- - - - T 386,161 88,028 135,564 99,679 77,920 267,498 62,471 32,215 65,362 59,985 173,097 5,029,769 1146,582 1765,729 1298,332 1014,918 3484,186 813,681 419,606 851,360 781,309 2254,608 2,789,257 151,869 703,361 160,338 246,919 181,558 141,926 487,22? 113,785 58,678 119,054 109,258 315,284 24,266,722 1321,274 6,119,291 1394,948 2148,212 1579,569 1234,764 4238,911 989,937 510,499 1035,776 950,552 2742,989 Total U. S. Govt, sees. 2k,266.722 1321,274 Total loans & securities 24,450,226 1331,366 6,183,006 1403,248 2169,397 1587,971 1251,864 4247,844 1003,587 514,117 1059,335 955,302 2743,189 Due from foreign hooks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 4,703,722 87,527 172.369 1 340,781 4,837 9,157 6.119,291 1394,948 2148,212 1579,569 1234,764 4238,911 989,937 1/4 1 1 1 1 2 1 2 / 1 1 1 8867244 294,829 431,28? 370,491 369,888 750,638 199,911 125,604 253,383 212,745 467,921 10,662 41,993 4,402 9,543 9,839 15,365 6,817 10,948 8,020 8,732 7,922 32,203 6,626 6,906 5,281 3,536 4,888 7,632 6,766 7,402 11,46? 18,952 51,072,584 2777,264 12,974,143 2926,569 4434,073 3245,653 2568,518 9030,114 2061,969 1130,639 2185,912 1943,503 5794,227 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 510,499 1035,776 950.552 2742.989 H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 4, 1958 1 Total Boston New York ) Rich^nd Atlanta Chicago Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES ^ s K ^ ^ 8 Dallas (In thousands of dollars) 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 L 26,567,293 1575,828 6,329,268 1663,808 2480,458 2042,168 1247,978 5127,104 1179,057 541,120 1058,454 708,908 2613,142 18,184,260 759,969 5,169,905 866,592 1404,810 800,092 916,675 2943,562 627,722 418,694 830,508 936,430 2509,301 416,218 30,921 58,204 23,915 25,555 27,310 24,022 75,818 21,220 25,325 34,850 30,537 38^541 271,624 14,250 1/92,124 17,250 22,250 12,750 11,250 35,750 9,250 6,000 9,750 13,000 28 000 364,939 645 306,512 9,662 1.406 2.942 1.425 578 2.280 422 1.307 1.577 l6.l8l 19,237,041 805,785 5,626,745 917,419 1454,021 843,094 953,372 3055,708 660,472 450,441 876,415 981,544 2612,025 3,868,018 314,480 634,174 249,532 374,092 286,140 301,523 643,479 168,478 103,856 195,265 181,619 415,380 21,497 1,258 5,540 1,119 2,718 960 945 3,523 720 680 766 914 2,354 49,693,849 2697,351 12,595,727 2831,878 4311,289 3172,362 2503,818 8829,814 2008,727 1096,097 2130,900 1872,985 5642,901 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. 351,596 809,198 27,543 190,398 17,798 47,013 3,011 12,091 21,493 55,923 4,489 12,786 33,145 71,550 1,006 17,083 15,900 41,236 3,349 12,806 17,334 47,997 36,192 121,504 762 1,429 10,412 29,370 11,860 31,586 521 9,275 8,058 19,697 1,073 5,714 14,254 30,533 1,137 9,088 19,889 40,871 1,307 8,451 40,702 89,130 2,l4o 19,354 51,072,584 2777,264 12,974,143 2926,569 4434,073 3245,653 2568,518 9030,114 2061,969 1130,639 2185,912 1943,503 5794,227 110,626 1,006 6,276 -- 2/31,574 -- 7,597 9,799 5,615 4,955 15,744 4,074 2,642 4,294 5,725 12,331 15 51 --940 FEDERAL RESERVE AGENTS' ACCOUNTS 27,458,638 1628,545 6,572,113 1722,667 2550,590 2106,491 1294,041 5227,404 1224,156 554,254 1084,445 754,590 2731,334 F. R. notes outstanding Collat. for F. R» notes: Gold certificate acct. 12,008,000 700,000 Eligible paper 45,357 U. S. Govt, securities 17,095,GOO 1150,000 Total collateral 29,148,357 1850,000 l/ After deducting $179,500,000 participations 2/ After deducting $79,052,000 participations 103,166 223,963 7,319 43,968 3,270,000 640,000 1130,000 775,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 — 8,170 --— 13,650 — 23,537 3,600,000 1200,000 1600,000 1400,000 1000,000 3000,000 875,000 425,000 820,000 525,000 1500,000 6,870,000 1848,170 2730,000 2175,000 1425,000 5400,000 1318,650 580,COu 1143,537 808,000 30Co'ooo of other Federal Reserve Banks. of other Federal Reserve Banks,
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