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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release May l4, 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 d a i l y figures of member bank reserves f o r the week ended May 13 decreased $21 million t o $18,550 m i l l i o n . Estimated required reserves decreased $113 million; and estimated excess reserves increased $92 million t o $491 m i l l i o n . Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $218 million, compared with $276 million the week b e f o r e . The p r i n c i p a l changes reducing average reserves were a decrease of $98 million in Federal Reserve f l o a t and an increase of $136 million in money in c i r c u l a t i o n . The p r i n c i p a l o f f s e t t i n g changes were increases of $202 million in Federal Reserve holdings of U. S. Government s e c u r i t i e s and $34 million in member bank borrowings. Total Reserve Bank credit increased $139 m i l l i o n . As of bought outright s e c u r i t i e s held borrowings were Wednesday, May 13, holdings of U. S. Government s e c u r i t i e s were $149 million higher than a week e a r l i e r , U. S. Government under repurchase agreement were $4 million lower, and member bank $210 million lower. Member bank reserves, Reserve Bank c r e d i t , and related items Reserve Bank c r e d i t : 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 c r e d i t Gold stock Treasury currency outstanding Averages of d a i l y f i g u r e s Week ended Change from week ended May 14, May 6, May 13, 1958 1959 1959 (In millions of d o l l a r s ) Wednesday May 13, 1959 +2,009 + 70 25,977 108 10 1 29 - - + 586 + 18 +139 - 11 + 3 +133 +2,709 -1,635 + 63 +1,13d 635 18 764 27,530 20,244 31,505 710 521 269 383 1,139 3k, 527 +136 4- 693 31 4- 51 25 3 + 93 4- 777 31,482 18,550 18,059 491 - 21 4* 360 4- 531 171 18,553 18,259 294 25,9^0 70 +234 - 32 30 1 + 1 + 709 18 795 277563 20,251 5,262 53,077 + 3% Money in c i r c u l a t i o n 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) Member bank r e s e r v e s - Required reserves (estimated) Excess reserves (estimated) — - 98 - - + + + 21 13 23 3 +15 u -113 + 92 - 35 5,263 53,037 717 504 255 387 1,139 34,484 On May 13, 1959; U. S. Government s e c u r i t i e s held in custody by the Federal Reserve Banks f o r foreign account were $3,613 million, an increase of $115 million f o r the week and an increase of $517 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 adcount Redemption fund for F* R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptance s- -bought outright U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Change since May 14, May 6, 1958 1959 May 13, 1959 18,754> 892 907,851 19,662,743 344,576 363,767 652,340 4 28,983 -1,688,499 + 71,920 -1,616,579 - 28,962 1 7,438 1,976,300 18,649,726 2,867,565 2, *83,771 25,977,362 15,021 210,333 1,370 + 536,690 500 - 10,748 148,700 + 774,990 -1,296,379 +2,867,565 - 305,486 +2,040,690 + 107,600 +2,148,290 148,700 4,200 144,500 107,600 26,084,9^2 Total loans and securities 26,766,289 65,834 +2,673,732 Due from foreign banks 15 Uncollected cash items 5,836,607 + 839,504 + 436,104 Bank premises 480 + 8,468 95,648 + Other assets 241,618 + 13,138 - 34,161 TOTAL ASSETS 53,311,263 + 764,828 +1,437,232 LIABILITIES Federal Reserve notes 27,063,280 + 46,902 + 563,476 Deposits: Member bank reserves - 86,808 + 372,785 18,552,780 U. S. Treasurer--general account 503,621 37,987 + 76,443 Foreign 255,018 8,029 52,850 Other 387,356 3; 543 - 12,443 Total deposits 19,698,775 - 136,367 + 383,935 Deferred availability cash items 5,072,605 + 838,828 + 420,686 Other l i a b i l i t i e s and accrued dividends 3,837 + 19,569 39,019 + TOTAL LIABILITIES 51,873,679 + 753,200 +1,387,666 CAPITAL ACCOUNTS Capital paid in 86 + 27,085 377,646 + Surplus 868,4l0 1/+ 31,669 Other capital accounts 9,188 191,528 + 11,542 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,311,263 + 764,828 +1,437,232 Ratio of gold certificate reserves to deposit and F. R. note l i a b i l i t i e s combined 42.0# 4.4# Contingent l i a b i l i t y on acceptances purchased for foreign correspondents 9,180 - 67,683 67,472 + Industrial loan commitments 360 637 l / Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 13, 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 Industrial U. S. Government advances Acceptances securities loans 628,085 1 7,840 596,350 24,146 21,143 S.o+ nS J 9927650 3 109 :: 652,340 28,983 206,495 1,263,662 26,084,962 )) sj1 - 7 ^ /"> c E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 13, 1959 PhilaCleveSt. Boston New York delphia Richmond Atlanta Chicago Louis land (In thousands of d o l l a r s ) Minneapolis Kansas City 18,754,892 869,503 ^ 967,322 1092,203 1676,842 995,330 883,350 3371,511 710,655 411,107 654,679 661,743 2460,647 43,688 22,322 42,708 5,156,867 1149,290 1761,543 1071,240 938,217 3540,699 754,343 433,429 697,387 Total ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves 907,851 55,629 19,662,743 925,132 189,545 57,087 84,701 75,910 54,867 169,188 San Francisco Dallas 29,207 82,999 690,950 2543,646 F.R. notes of other Banks Other cash 344,576 363,767 26,615 27,586 92,522 73,208 18,210 16,866 15,054 34,933 35,122 23,015 55,606 29,343 24,019 56,668 9,372 21,178 9,915 11,829 7,341 11,716 17,423 13,008 33,377 44,417 Discounts and advances I n d u s t r i a l loans Acceptances— Bought outright U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 652,340 51,041 86,703 17,432 47,382 53,175 55,627 127,569 21,856 35,797 107,547 4 16,390 31,821 107,145 497,340 112,701 171,104 1011,095 4,693,241 1063,519 1614,656 155,465 721,628 163,526 248,268 134,658 625,046 141,639 215,040 1400,363 6,537,255 1481,385 2249,068 126,656 1195,224 183,7 159,1 1664,837 4 28,983 1,976,300 18,649,726 2,867,565 2,483,771 25,977,3^2 107,600 28,983 * • 1CJ J 600 —— —— •»— 104,159 982,915 151,132 130,905 1369,111 342,004 3227,372 496,238 429,821 4495,435 «•» — —— 80,376 45,013 85,188 78,883 225,731 758,484 424,785 803,897 744,385 2130,153 116,624 65,315 123,606 114,456 327,530 101,015 56,573 107,063 99,137 283,694 1056^499 591^686 1119/754 103^861 2967] 108 — «* «• w —* Total U. S. Govt, sees. 26,084,962 1408,363 6,644,855 1481,385 2249,068 1664,837 1369,111 4495,435 1056,499 591,686 1119.754 1036,861 2967,108 Total loans & s e c u r i t i e s 26,766,289 1459,404 6,760,541 1498,817 2296,450 1718,012 1424,738 4623,004 1078,355 627,487 1227,301 1053,251 2998,929 Due from foreign banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 15 1 5,836,607 397,481 95,648 4,566 241,618 13,285 1 / 4 1 1 1 1 13,488 21,018 15,389 13.679 59,530 1 2 / 1 1 1 41,349 9.910 5.427 11.227 9.750 27,566 53,311,263 2854,070 13,108,754 3077,972 4687,363 3328,562 2973, 961 9221,962 2136,976 1241,476 2344,726 2100,405 6235,036 1 / A f t e r deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks7 2/ Less than $500. 2 955,861 377,141 549,010 458,8l4 502,634 923,560 256,869 148,181 385,024 307,438 574,594 10,221 4,159 9,354 6,969 9,743 12,661 6,948 5,208 4,729 8,584 12,506 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 a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 13, 1959 Boston Net, York ° ^ " Richmond A t i m t a Chicago ^ (In thousands of d o l l a r s ) ^ 27,063,280 1569,009 6,289,559 1712,132 2484,792 2023,099 1455,756 5169,745 1197,998 Dallas 609,155 1095,407 T _!™„ 764,904 2691,724 18,552,780 785,172 5,130,385 902,453 1542,398 784,248 970,027 2902,960 648,712 438,061 812,446 946,748 2689,170 503,621 28,451 91,767 27,171 26,820 41,069 23,366 75,863 20,102 19,271 32,837 24,474 92,430 255,018 13,750 1/75,018 16,500 22,500 12,500 11,750 37,000 9,250 6,000 9,750 13,000 28,000 387,356 ®34 333,761 1,020 902 2,821 2,262 849 616 352 945 875 42,119 19,698,775 828,207 5,630,931 947,144 1592,620 840,638 1007,405 3016,672 678,680 463,684 855,978 985,097 2851,719 5,072,605 374,155 784,670 322,o4l 476,665 388,021 439,638 816,101 203,307 132,102 334,106 274,996 526,803 39,019 2,063 10,533 1,903 3,695 2,207 1,964 6,242 i,44l 1,280 1,602 1,680 4,409 51,873,679 2773,434 12,715,693 2983,220 4557,772 3253,965 2904,763 9008,760 2081,426 1206,221 2287,093 2026,677 6074,655 CAPITAL ACCOUNTS Capital paid i n Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. l i a b . on acceptances purchased f o r f o r e i g n correspondents I n d u s t r i a l loan commit. 377,646 868,410 191,528 IS 11 1:1 IS E:8 IS 1:1 IS 41 11 11 11 53,311,263 2854,070 13,108,754 3077,972 4687,363 3328,562 2973,961 9221,962 2136,976 1241,476 2344,726 2100,405 6235,036 67,472 360 3,712 2/18,872 4,455 6,075 20 3,375 — 3,172 — 9,990 — 2,498 — 1,620 — 2,633 %4n 3,510 7,560 FEDERAL RESERVE AGENTS' ACCOUNTS *• n. notes outstanding 28,002,294 1646,249 C o l l a t . f o r F . R. notes: Gold c e r t i f i c a t e a c c t . 10,725,000 580,000 E l i g i b l e paper 134,336 U. S. Govt, s e c u r i t i e s 18,685,000 1150,000 Total c o l l a t e r a l 29,544,336 1730,000 r 0/ ^ d u c t i n g $180,000,000 p a r t i c i p a t i o n s 2/ A f t e r deducting $48,600,000 p a r t i c i p a t i o n s 6,529,508 1759,127 2545,743 2101,053 1528,707 5263,551 1247,849 622,077 1125,221 804,549 2828,660 2,920,000 64o,ooo 920,000 670,000 475,000 2000,000 430,000 200,000 6,270 — — — — 21,205 -4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 425,000 6,920,000 1846,270 2670,000 2170,000 1575,000 5500,000 1386,205 625,000 of other Federal Reserve Banks. of other Federal Reserve Banks. 300,000 290,000 1300,000 106,861 850,000 575,000 1700,000 1256.861 865.000 ^000.000
@FedFRASER