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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 28, 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 f i g u r e s of member bank r e s e r v e s f o r t h e week ended May 27 decreased $436 m i l l i o n t o $18,393 m i l l i o n . Estimated r e q u i r e d r e s e r v e s decreased $167 m i l l i o n ; and estimated excess r e s e r v e s decreased $269 m i l l i o n t o $336 m i l l i o n . Member bank borrowings a t t h e Federal Reserve Banks exceeded excess r e s e r v e s by $322 m i l l i o n , compared with $248 m i l l i o n t h e week b e f o r e . , , The p r i n c i p a l changes reducing average r e s e r v e s were d e c r e a s e s of $215 m i l l i o n i n Federal Reserve f l o a t , $195 m i l l i o n i n member bank borrowings, and $30 m i l l i o n i n Federal Reserve holdings of U. S. Government s e c u r i t i e s , and an i n c r e a s e of $39 m i l l i o n i n Treasury d e p o s i t s with Federal Reserve Banks. The p r i n c i p a l o f f s e t t i n g change was a decrease of $42 m i l l i o n i n money i n c i r c u l a t i o n . Total Reserve Bank c r e d i t decreased $44l m i l l i o n . As of Wednesday, May 27, holdings of U. S. Government s e c u r i t i e s bought o u t r i g h t and those h e l d under repurchase agreement were unchanged from a week e a r l i e r and member bank borrowings were $177 m i l l i o n h i g h e r . Member bank r e s e r v e s , Reserve Bank c r e d i t , and r e l a t e d items Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s — Bought o u t r i g h t - - S y s t e m account Held under repurchase agreement Acceptances--bought o u t r i g h t Loans, d i s c o u n t s , and advances— Member bank borrowings Other Float Total Reserve Bank c r e d i t Gold stock Treasury currency o u t s t a n d i n g Averages of d a i l y f i g u r e s Week ended Change from week ended May 27, May 20, May 28, 1959 1959 1958 (In m i l l i o n s of d o l l a r s ) Wednesday. May 27, 1959 +1,852 28 - 21 - Qy - 1 14 27 658 17 940 27,548 20,188 5,268 53,005 -195 - 1 -215 -44i - 9 + b -445 + 539 + 17 + 160 +2, 554 -1, 473 + 67 +1,149 537 17 721 27,206 20,188 5,269 52,663 Money i n c i r c u l a t i o n Treasury cash holdings Treasury d e p o s i t s with F. R. Banks Foreign d e p o s i t s with F . R. Banks Other d e p o s i t s with F . R. Banks Other F. R. accounts ( n e t ) 31,473 708 543 281 363 1,244 34,612 - 42 - 2 + + - 660 i4 + 106 + 5 28 + 221 + 950 31,511 706 525 289 353 1,219 34,602 Member bank r e s e r v e s — Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) 18,393 18,057 336 -436 -167 -269 + + - 18,062 18,055 7 25,905 + 39 1 4 1 9 - 199 544 345 25,905 On May 27, 1959, U. S. Government s e c u r i t i e s held i n custody by the Federal Reserve Banks f o r f o r e i g n account were $3, JOh m i l l i o n , an i n c r e a s e of % ° m i l l i o n f o r t h e week and an i n c r e a s e of $666 m i l l i o n from t h e 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 May 20, May 28, 1958 1959 May 27, 1959 ASSETS Gold c e r t i f i c a t e account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances--bought outright U. S. Government s e c u r i t i e s : Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 18,691,894 913,050 19,604,944 346,793 364,043 553,532 2 26,891 + + 1 3,267 3,266 6,194 754 177,053 - - 885 1,903,500 18,649,726 2,867,565 2,483,771 25,904,562 + 574,140 -1,296,379 +2,867,565 - 305,486 +1,839,840 — — •» — — •» w. - - - - - • * «• " 25,904,562 Total loans and s e c u r i t i e s Due from foreign hanks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS -1,531,495 + 81,787 -1,449,708 + 15,080 + 26,645 + 381,359 46l 13,868 +1,839,840 - - 26,48k, 987 15 5,097,919 95,737 142,095 52,136,533 + - 622,788 27,074,914 + 40,650 + 519,176 + + + 25,983 142,343 1 - 61, l 4 l 56,572 6,919 31,515 43,003 589,499 — 3 9 0 591,462 L I A B I L I T I E S Federal Reserve notes Deposits: Member hank reserves U. S. Treasurer—general account 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 18,061,652 524,819 288,592 353,377 19,228,440 4,376,706 38,419 50/7187579 CAPITAL ACCOUNTS Capital p a i d - i n Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 378,229 868,4l0 171,415 52,1357533 176,168 +2,206,870 - 801,060 + 709,080 + - 162,882 375 - + 167 12,485 31,701 622,788 8,396 +1,353,481 11,606 47,029 + 132,903 + 632,024 + 17,488 +1,301,591 27,131 31,669 6,910 +1,353,481 + 1/+ Ratio of gold c e r t i f i c a t e reserves t o deposit and F. R. note l i a b i l i t i e s combined 42.3# Contingent l i a b i l i t y on acceptances purchased for foreign correspondents 77,071 43,229 3,935 Industrial loan commitments 360 676 y Net change a f t e r elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 27, 1959 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days t o 90 days 91 days t o 1 year Over 1 year t o 5 years Over 5 years t o 10 years Over 10 years Total Discounts and advances 524,831 28,507 194 553,532 Industrial loans Acceptances r, m 19,116 26,891 U. S. Government securities 304,960 9,235,073 11,013,193 3,881,179 206,495 1,263,662 25,904,562 H.4.1(b) Total STATEMENT OF COHDIT]CON OF EACH FEDERAL RESERVE BANK ON MAY 27, 1959 CleveSt. Boston New York PhilaRichmond Atlanta Chicago delphia Louis land Minneapolis Kansas City Dallas 697,875 395,775 678,136 677,506 2347,632 168,462 43,473 23,049 42,543 952,018 3522,867 741,348 418,824 720,679 San Francisco ASSETS 18,691,894 890,489 913,050 55,173 19, 60k, 9W 945,662 F.R. notes of other Banks Other cash 3^6,793 364,043 27,351 27,942 87,903 70,607 17,646 17,318 15,879 33,333 35,760 23,475 56,446 29,877 25,478 55,305 10,702 21,716 11,370 11,448 7,265 12,081 18,838 15,296 32,155 45,645 Discounts and advances Industrial 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 553,532 2 34,986 43,985 57,322 32,325 53,046 47,014 70,007 23,419 52,710 2 81,877 22,712 34,129 Gold c e r t i f i c a t e account Redemption fund for F. R. notes Total gold c e r t i f i c a t e reserves 4,981,713 1068,860 1693,181 1008,603 897,719 3354,405 187,879 58,422 84,027 84,056 5,169,592 1127,282 1777,208 1092,659 54,299 29,072 82,595 706,578 2430,227 26,891 26,891 1,903,500 103,198 18,649,726 1011,095 2,867,565 155,465 2,483,771 134,658 25,904,562 1404,416 479,020 108,550 164,801 121,991 100,322 329,405 77,415 4,693,241 1063,519 1614,656 1195,224 982,915 3227,372 758,484 721,628 163,526 248,268 183,777 151,132 496,238 116,624 625,046 141,639 215,040 159,180 130,905 429,821 101,015 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,53# 82,050 75,977 217,416 43,355 424,785 803,897 744,385 2130,153 65,315 123,606 114,456 327,530 56,573 107,063 99,137 283,694 590,025 1116,616 1033,955 2950,793 Total U. S. Govt, s e e s . 25,904,562 l 4 o 4 , 4 l 6 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,538 590,028 I l l 6 , 6 l 6 1033,955 2958,793 Total loans & s e c u r i t i e s 26,484,987 1439,402 6,589,811 1534,556 2275,090 1713,218 1412,288 4552,843 1076,957 642,740 1198,493 1056,667 2992,922 1 2 / 133,654 5,182 3,205 Due from foreign "banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 15 5,097,919 95,737 142,095 1 354,546 4,532 7,852 / 4 9497137 10,222 34,287 1 327,319 4,137 7,814 1 456,829 9,361 12,517 1 435,678 9,759 8,449 2 801,306 12,826 23,405 1 213,328 6,948 5,897 1 250,203 4,729 6,893 1 273,053 8,584 5,898 1 508,515 12,456 16,807 52,136,533 2807,288 12,911,563 3036,073 4580,218 3275,536 2904,516 8994,032 2076,897 1226,423 2200,344 2084,915 6038,728 1 / After deducting $11,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. 2 / Less than $500. 1 394,351 7,001 9,071 H-4..1(c) Total STATEMENT OF CONDIT][ON OF EACH FEDERA] RESERVE BANK ON MAY 27, 1959 ClevePhilaSt. Boston New York Richmond A t l a n t a Chicago delphia land Louis Minneapolis Kansas City Dallas San Francis co -LIABILITIES 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 27,074,914 1567,162 6,304,853 1718,083 2495,681 2015,387 1457,262 5180,616 1194,822 607,310 1093,245 18,061,652 524,819 288,592 353,377 19,228,440 782,565 35,386 15,125 384 833,460 4,990,792 59,047 1/90,592 306,604 5,447,035 4,376,706 324,934 762,768 762,513 2677,980 884,395 1489,318 37,625 39,141 18,150 24,750 539 667 940,709 1553,876 785,839 953,214 2784,243 49,526 37,437 67,193 13,750 12,925 40,700 2,244 1,208 750 851,359 1004,784 2892,886 613,24l 28,397 10,175 540 652,353 431,098 800,255 960,712 2585,980 27,005 35,006 36,861 72,195 6,600 10,725 14,300 30,800 76 767 818 38,780 464,779 846,753 1012,691 2727,755 281,777 333,270 173,388 118,266 398,930 372,120 704,638 201,887 234,836 469,892 2,082 9.374 1,906 3,763 2,178 2,083 6,103 1.499 38,419 1,149 1,625 1,862 4,795 h&BL 50,718,479 2727,638 12,524,030 2942,475 4452,250 3202,194 2836,249 8784,243 2022,062 1191,504 2143,510 2011,902 5880,422 CAPITAL ACCOUNTS Capital paid in Surplus Other c a p i t a l accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 378,229 868,410 171,415 18,481 50,116 11,053 109,514 238,902 39,117 22,350 59,607 11,641 35,909 76,643 15,4l6 16,869 44,846 11,627 19,314 39,474 9,479 51,891 132,159 25,739 12,661 33,746 8,428 8,616 20,785 5,518 15,437 32,935 8,462 21,796 43,436 7,781 45,391 95,761 17,154 52,136,533 2807,288 12,911,563 3036,073 4580,218 3275,536 2904,516 8994,032 2076,897 1226,423 2200,344 2084,915 6038,728 Conting. l i a b . on acceptances purchased f o r foreign correspondents Industrial loan commit. 77,071 4,24o 2/21,559 5,089 6,939 3,855 3,624 11,411 2,853 1,850 3,007 4,009 8,635 FEDERAL RESERVE AGENTS' ACCOUNTS F . R. notes outstanding 27,986,527 1642,526 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 154,204 -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 29,564,204 1730,000 1/ •After $l<3tf.0<DO.000 niTQa/fci TOft; ** vw* vdeducting bvviiUV V X U 5 ; UJLV V X Voris UO 2 / After deducting $55,512,000 participations v w v v v 6,520,504 1763,949 2547,460 2095,404 1524,982 5282,008 1246,357 620,919 1123,757 806,784 2811,877 2,920,000 640,000 920,000 670,000 475,000 2000,000 430,000 -50,200 ----— 22,790 4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 6,920,000 1890,200 2670,000 2170,000 1575,000 5500,000 1387,790 rvf Urvfchpr* Hanlra. WJL t U C J L XTTedA-rAl CLLCJL CLJL i Rpspwp l C D C l V V JDOJLUXO • of other Federal Reserve Banks. 200,000 300,000 290,000 1300,000 -81,214 --425,000 850,000 575,000 1700,000 625,000 1231,214 865,000 3000,000
@FedFRASER