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H.4.1 BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release March 5, 1959 WEEKLY AVERAGES OF MEMBEFl 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 March 4 decreased $14 million to $18,375 million. Estimated required reserves increased $8 million; and estimated excebe reserves decreased' $22 million to $352 million; Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $177 million, compared with $82 million the week before. The principal changes reducing average reserves were decreases of $44 million in Federal Reserve holdings of U. S. Government securities and $99 million in Federal Reserve float, and an increase of $91 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $73 million in member bank borrowings and decreases of $109 million in "other" deposits with Federal Reserve Banks and $4l million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $73 million. As of Wednesday, March 4, holdings of U. S. Government securities bought outright were $49 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $30 million higher, and member bank borrowings were $26 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 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, March 5, March 4, March 4, Feb. 25, 1958 1959 1959 _J252 (In millions of dollars) 25,294 61 36 1 +2,043 56 25,289 33 6 l 35 4ll 18 59 +2 ,583 -2,207 + 71 + 446 516 19 897 26,789 20,479 5,241 52,509 563 23 48 28 19 63 7^5 31,128 720 659 290 346 1,212 34,356 299 ' 61 238 18,153 18,002 151 -100 + 56 + - + 1 4 529 19 951 26,892 20,479^ 5,24qr» + 73 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) 31,126^1 72^| 534 298 339 1,214 34,235 + 15 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,375 18,023 352 - 14 + 8 - 22 - 99 - 73 + 5 + 1 52,61®——I - 68 «* — + 91 - 10 -109 - 41 - 54 + + + + + + + + + + - On March 4, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,833 million, a decrease of $20 million for the week and an increase of $301 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since March 5> Feb. 25, 1958 , 1959 March 4, 1959 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities; Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities -2,267,502 18,967,891 925,507 19,893,398 530,435 463,440 534,643 333 17,735 597 26,176 1 2,094 7,969 1,287,700 18,649,726 49,250 + 707,440 -1,296,379 +2,867,565 25,288,762 49,250 29,700 19,550 - 305,486 +1,973,140 + 18,700 +1.991.840 25,892,069 15 5,244,296 94,462 47,821 +2,411,353 + 628,018 33,700 25,322,462 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 120,882 52,238,997 + + 162,247 74 14,136 111,350 27,016,029 + 1,855 18,152,871 659,025 290,005 346,418 19,448,319 4,347,462 25,428 50,837,238 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 158 34,631 2,867,565 2,483,771 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + 64,439 -2,203,063 + 19,03? 44,799 + 427,640 373,302 868,410 160,047 52,238,997 + - + + + + 80,090 + 203,709 32,890 4,440 957159 43,467 1,456 139,035 + 698 + + 9,711 20,407 + 799,650 + 465,163 555,545 + 273,337 + 3,510 + 37,593 - 241,105 + 523,373 + 9,689 + 757,120 + 24,215 1/+ 31,669 28,383 ~ - 13.154 111,350 + 799,850 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.8$ 5.0# Contingent liability on acceptances purchased 204 for foreign correspondents 62,129 • 71,333 Industrial loan commitments 360 716 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 4, 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 512,909 21,734 534,643 U. S. Government Industrial securities Acceptances loans 120,660 10,224 " W 11 1,027,640 24,407 4o 18,822,826 3,881,179 54 206,495 333 34,631 25#322#462 E.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MARCH 4, 1959 St. PbilaCleveBoston New York delphla land Richmond Atlanta Chicago Louis (In thousands of dollars) 18,967,891 898,297 925,507 54,724 4,953,252 1012,203 1567,007 1033,081 194,294 58,766 86,350 81,373 Minneapolis 925,292 3385,380 758,675 56,109 171,038 44,158 Kansas City 482,177 770,143 21,989 43,143 Dallas San Francisco 731,363 2451,021 29,547 84,016 19,893,398 953,021 5,147,546 1070,969 1653,357 1114,454 981,401 3556,418 802,833 504,166 813,286 760,910 2535,037 F.R. notes of other Banks Other cash 530,435 463,440 38,547 36,891 130,614 87,949 25,221 26,437 39,839 43,979 59,270 26,756 86,092 80,636 43,598 12,459 30,250 11,737 13,111 6,474 14,530 32,840 18,495 43,744 53,619 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 534,643 333 20,856 45,554 33,013 51,187 45,227 53,910 122,003 16,242 10,009 66,149 9,343 41,150 30,787 327 34,631 6 34,631 1,287,700 70,112 324,717 74,022 113,994 83,819 27,090 54,963 65,522 224,935 52,531 50,440 145,555 18,649,726 1015,440 4,702,864 1072,061 1650,967 1213,948 948,954 3257,734 760,797 392,334 796,026 730,529 2108,072 723,109 164,839 253,851 186,655 145,910 500,907 116,979 60,325 122,396 112,325 324,135 2,867,565 156,134 626,327 142,777 219,876 161,674 126,382 433,865 101,323 52,251 106,015 97,292 280,753 2,483,771 135,236 257200,762 1376,922 6,377,017 1453,699 2230,600 1645,095" 12857768 44177%! 1031,630 532,000 1079,400 990,506 2050,515 33,700 33,700 Total U. S. Govt, sees. 25,382,462 1376,922 6,410,717 1453,699 2238,688 1646,096 1286,768 4417,441 1031,630 532,000 1079,400 990,586 2858,515 Total loans & securities 25,892,069 1398,105 6,490,902 1486,712 2289,875 1691,323 1340,678 4539,444 1047,872 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 5,244,296 94,462 120,882 1 1 / 4 385,624 1,0067845 4,636 6,399 10,242 29,380 6,668 9,366 11,127 1 2 1 1 52,238,997 2823,224 12,903,482 2941,778 4519,673 3302,314 2892,235 9108,859 2122*462 1221,662 2278,175 2080,891 6044,242 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 2/ 999,929 2899,665 1 1 255,821 486,061 436,800 856,199 216,995 142,905 267,572 7,980 12,582 6,884 9,317 12,377 6,921 5,199 4,757 2,529 6,006 4,915 13,533 7,850 7,159 20,185 5,131 1 1 1 321,569 472,129 395,776 4,201 542,015 1165,549 H,4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 4, 1959 Total Boston ^ n T R l c h m o n d A t l a n t a Chicago | ^ (In thousands of dollars) New York 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 ^ty" FranSsco 27,016,029 1568,161 6,290,488 1686,395 2485,229 2051,808 1439,749 5166,402 1199,702 594,062 1083,198 773,097 2677,738 18,152,871 659,025 290,005 768,388 4,958,880 843,813 1432,564 797,359 952,883 2867,693 645,042 430,129 863,242 966,288 2626,590 35,919 139,233 34,756 54,209 36,198 37,929 93,890 36,671 29,544 41,165 48,338 71,173 15,455 1/87,685 18,546 25,290 14,050 13,207 41,588 10,397 6,744 10,959 14,612 31,472 346,418 244 287,763 2,356 1,729 4,590 1,384 491 706 264 2,607 1,605 42.679 19,448,319 820,006 5,473,561 899,471 1513,792 852,197 1005,403 3003,662 692,816 466,681 917,973 1030,843 2771,914 4,347,462 354,644 750,143 261,785 390,979 324,382 378,609 726,965 174,692 125,515 219,856 203,798 436,094 25,428 1,379 6,331 1,340 2,840 l,4o6 1,316 4,475 907 947 1,043 977 2,467 50,837,238 2744,190 12,520,523 2848,991 4392,840 3229,793 2825,077 8901,504 2068,117 1187,205 2222,070 2008,715 5888,213 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. F. R. notes outstanding •ollat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 373,302 868,410 160,047 18,420 50,116 10,498 107,903 238,902 36,154 22,116 59,607 11,064 35,621 76,643 14,569 16,750 44,846 10,925 12,547 33,746 8.052 8,551 20,785 5.121 15,298 32,935 7.872 21,503 43,436 7.237 44,360 95,761 15.908 52,238,997 2823,224 12*902,482 2941,778 4519,673 3302,314 2892,235 9108,859 2122,462 1221,662 2278,175 2080,891 6044,242 62,129 360 3,415 2/17,417 4,099 5,589 3,105 2,919 9,191 2,298 1,490 2,422 3,229 6,955 FEDERAL RESERVE AGENTS' ACCOUNTS 28,199,306 1664,996 6,620,294 1761,036 2567,436 2144,632 1509,326 5320,398 1246,765 606,322 1115,097 823,429 2819,575 10,875,000 600,000 2,920,000 640,000 920,000 700,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000 132,805 — -31,805 — — — -15,565 — 85,435 — — 18,685,000 1150,000 4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,000 29,692,805 1750,000 6,920,000 1871,805 2670,000 2200,000 1575,000 5600,000 1380,565 625,000 1235,435 865,000 3000,000 L/ After deducting $202,320,000 participations of other Federal Reserve Banks. ?/ After deducting $44,712,000 participations of other Federal Reserve Banks. 18,842 51,391 39,474 132,159 8,842 23.805
@FedFRASER