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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release March 13, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, ADD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending March 12 increased $25 million to $18,699 million. Estimated required reserves decreased $15 million; and estimated excess reserves increased $40 million to $591 million, Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $460 million, compared with $433 million the week before. The principal changes supplying average reserves were an increase of $210 million in Federal Reserve holdings of U, S, Government securities, and a decrease of $27 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $76 million in Federal Reserve float and $71 million in gold stock, and an increase of $79 million in money in circulation. Total Reserve Bank credit increased $147 million. As of bought outright securities held bank borrowings Wednesday, March 12, holdings of U. S. Government securities were $143 million higher than a week earlier, U. S. Government under repurchase agreement were $62 million higher, and member were $120 million higher. 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 March 12, 1958 March 5, 1958IMarch 13, 1957 (In millions of dollars) 23,432 34 43 +181 + 29 + 1 131 1 816 24,456 22,615 5;174 52,245 + 13 - 76 +147 - 71 + 6 +""51 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) 30,641 712 479 273 293 1,148 33,546 +79 + 10 - 7 + 3 - 27 - 3 T~% +32 -100 + 8 - 24 +92 + 19 + 27 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,699 18,108 591 + 25 - 15 + 40 + 45 - 97 +142 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 22,612 Treasury cash holdings 734 Treasury currency outstanding 5,175 Member bank) - Required (est.) 18,206 Money in circulation 30,594 reserves ) - Excess (est.) 606 On March 12, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,496 million, a decrease of $36 million for the week and a decrease of $240 million from the comparable date a year ago. H,4U(a) STATEMENT OF CONDITION OP 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 March 12, 1958 y?r 21,160,394 860,839 22,021,233 496,902 489,664 226,976 511 42,601 74,999 229 - 75,228 - 14,496 - 18,575 + 119,973 20 + + 1 + 396,002 + 4,273 + 400,275 + 78,974 + 38,440 - 411,608 290 + 19,440 723,310 19,946,105 143,050 • ,2,789,257 23,458,672 77,300 23,535,972 143,050 62,300 + 205,350 + 426,855 +8,583,906 -8,571,413 - ,12,493 + 426,855 + 40,100 +"~Sgg7955 23,806,060 + 325,344 + 74,497 + + + 116,314 241 15,706 + 60,169 15 4,732,592 84,992 156,995 51,788,453 LIABILITIES Federal Reserve note's ~ Deposits: Member bank reserves U» S« Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 446,400 280,942 302,818 19,842,166 4,008,585 17,087 50,416;848 CAPITAL ACCOUNTS Capital paid in ~ Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R* note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments Change since March 5, March 13, 1958 + + 26,549,010 1,856 18,812,006 + 103,590 + 60,712 5,553 ~ 6,007 + 152,752 + 184,496 . 1,348 + 336,730 349,490 809,198 27,543 185,374 51,788,453 403 + + 12,173 349,306 47.5# .3# 129,756 994 3,706 82 7 - 244,335 + 9,567 + 23,498 + ~3B0,9Q9 + 279,005 4,888 - 11,408 + 98,184 + 360,893 - 91,795 90 + 329,177 + + 19,038 61,605 28,%11 + 380,909 70,852 976 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 12, 1958 (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 223,768 128 16,448 141,550 16 days to 90 days 3,180 183 26,153 659,060 91 days to 1 year 28 87 19,946,105 Over 1 year to 5 years 113 1,374,400 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Total 226,976 42,601 5Tl 23,535,972 H.4.1(h) Total STATEMENT OF C0NDIT][ON OF EACH FEDERAL RESERVE BANK ON MARCH 12, 1958 CleveSt. PhilaBoston Richmond Atlanta Chicago New York Louis delphia land Minneapolis Kansas City Dallas San Francisco AS S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate — reserves 21,160,394 1074,252 5,973,790 1119,115 1808,112 1287,196 817,269 3754,859 838,818 404,501 871,893 723,624 2486,965 860,819 55,102 178.268 59.313 78.014 78.244 48.164 155.370 42.882 22.006 41.198 28.178 74.080 22,021,233 1129,354 6,152,058 1178,448 1886,126 1365,440 865,433 3910,229 881,700 426,507 913,091 751,802 2561,045 F.R. notes of other Banks Other cash 496,902 489,664 25,702 28,329 137,936 110,146 33,048 29,168 46,688 41,231 38,605 33,717 70,230 38,322 38,028 82,557 10,947 27,146 21,730 9,613 6,66l 14,270 30,924 17,084 36,403 58,081 Discounts and advances Industrial loans Acceptances— 226,976 511 13,260 327 46,050 6,775 163 25,530 3,700 9,350 92,498 4,600 4,430 21 15,133 1,650 4,000 -Bought outright U. S. Govt, securities: Bought outright-Bills Certificates Notes Bonds Total Held under repurchase agreement 42,601 42,601 180,886 42,222 63,534 46,214 37,466 126,254 29,912 15,609 31,054 28,346 82,359 723,310 39,454 4,988,142 1164,314 1752,026 1274,417 1033,148 3481,613 824,871 430,437 856,346 781,668 2271,143 1087,980 19,946,105 697.540 162,817 245,003 178,214 144.475 486,868 115,350 60,192 119,751 109,308 317,596 2,789,257 152.141 " 1369,353 2060,563 1498,845 1215,089 4094,735 970,133 506,238 1007,151 919,322 2671,098 23,458,672 1279,577 5,866,565" 77,300 77,300 Total U. S. Govt, sees. 23,535,972 1279,577 5,943,868 1369,353 2060,563 1498,845 1215,089 4094,735 970,133 506,238 1007,151 919,322 2671,098 Total loans & securities 23,806,060 1293,164 6,032,519 1376,291 2086,093 1502,545 1224,439 4187,233 974,733 510,689 1022,284 920,972 2675,098 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 1 15 4,732,592 332,494 4,941 84,992 8,258 156,995 1 1 1/4 1 1 1 1 2 1 2 / 1 888,357 286,309 414,727 374,853 422,726 766,944 198,682 127,565 230,062 239,957 449,816 6,529 11,239 10,629 4,469 9,740 6,943 6,936 6,977 6,353 5,301 4,935 6,767 17,397 38,378 8,767 13,867 9,892 8,145 28.900 6,249 3,334 7,041 51,788,453 2822,243 13,370,027 2916,501 4498,473 3331,996 2636,232 9020,870 2105,811 1104,839 2198,345 1974,036 5809,080 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. $ Minneapolis Kansas City San Dallas Francisco 26,549,010 1566,877 6,260,441 1666,690 2520,401 2093,004 1242,663 5164,680 1185,846 518,001 1052,870 714,732 2562,805 18,812,006 820,721 5,653,393 851,447 1441,380 801,234 908,990 2912,693 671,214 416,013 848,507 930,165 2556,249 446,400 29,166 62,806 28,999 27,452 32,585 36,324 50,003 19,372 18,258 40,173 28,854 72,408 6,360 10,335 13,780 29,680 9,805 280,942 15,105 1/90,672 18,285 23,585 13,515 11,925 37,895 302,818 310 1,702 1,388 40,215 1,548 1,536 4,192 732 9,833 1,257 239,712 393 19,842,166 865,385 6,046,583 908,564 1493,674 851,526 950,707 3001,323 701,927 440,941 900,717 974,187 2698,552 4,008,585 309,431 681,813 246,087 360,070 313,756 369,829 653,210 164,407 111,199 189,456 214,115 395,212 886 614 1,660 676 2,817 4,288 844 2,231 885 874 17,087 719 593 50,416,848 2742,567 12,993,125 2822,185 4376,376 3259,171 2571,998 8822,030 2052,773 1070,817 2143,657 1903,920 5658,229 349,490 809,198 27,543 185,374 17,820 47,013 3,011 11,832 102,930 223,963 7,319 42,690 21,404 55,923 4,489 12,500 32,951 71,550 1,006 16,590 15,875 41,236 3,349 12,365 17,051 47,664 36,192 121,504 1,429 762 10,229 28,243 11,781 31,586 521 9,150 7,543 19,697 1,073 5,709 14,145 30,533 1,137 8,873 19,701 40,871 1,307 8,237 40,625 89,130 2,140 18,956 51,788,453 2822,243 13,370,027 2916,501 4498,473 3331,996 2636,232 9020,870 2105,811 1104,839 2198,345 1974,036 5809,080 129,756 994 7,393 F. R» notes outstanding 2 7 , 7 0 3 , 4 2 1 1657,321 Collat. for F. R. notes: Gold certificate acct. 12,193,000 700,000 Eligible paper 26,508 U. -S, Govt, securities 1 7 , 1 4 5 , 0 0 0 1150,000 Total collateral 2 9 , 3 6 4 , 5 0 8 1850,000 1/ After deducting $190,270,000 participations 2/ After deducting $93,124,000 participations 1 Coating, liab. on acceptances purchased for foreign correspondents Industrial loans commit. 8 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Suzplais (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS <3 .i Total LIABILITIES Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits STATEMENT OF COHDIT]CON OF EACH FEDERA] 1958 St. Phila- I CleveBoston New York delphiaj land Richmond Atlanta Chicago Louis (In thousands of dollars) 1 H.4.1(c) 2/36,632 - - 8,949 2 11,543 52 6,615 - 5,837 - FEDERAL RESERVE AGENTS' ACCOUIITS 18,547 — 4,799 3,113 — ^ 5,058 940 6,617,841 1745,805 2619,255 2174,588 1307,123 5207,107 1227,093 536,226 1080,057 6,744 14,526 — • 760,999 2690,006 875,000 4 2 5 , 0 0 0 2500,000 4 3 0 , 0 0 0 i4o,ooo 300,000 283,000 1500,000 15,133 6,775 ----4,600 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 875,000 425,000 820,000 525,000 1500,000 6 , 8 7 0 , 0 0 0 1846,775 2 7 3 0 , 0 0 0 2 2 2 5 , 0 0 0 1425,000 5600,000 1309,600" 565,000 1135,133 800,000 30007555" of other Federal Reserve Banks, of other Federal Reserve Banks. 3,270,000 6 4 0 , 0 0 0 1130,000
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