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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release November 6, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending November 5 decreased -$99 million to $18,416 million. Estimated required reserves increased $6 million; and estimated excess reserves decreased $105 million to $449 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $47 million, compared with $99 million the week before. The principal changes reducing average reserves were decreases of $l8l million in Federal Reserve float and $53 million in member bank borrowings, and increases of $120 million in money in circulation and $70 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $80 million in U. S. Government securities bought outright and $79 million held under repurchase agreement, and a decrease of $187 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $73 million. As of bought outright securities held bank borrowings Wednesday, November 5, holdings of U. S. Government securities were $51 million higher than a week earlier, U. S. Government under repurchase agreement were $96 million higher, and member were $124 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 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 ending Change from week ending Wednesday, November 5, October 29, November 6 , Nov. 5, 1958 1958 1958 1957 (In millions of dollars) 25,380 79 36 + 80 + 79 +2 ,124 106 25,423 96 + + 19 35 501 2 44l 26,498 20,665 5,222 52,385" 2 - - * 402 2 79 6 26,694 20,679 5,222 52,595 -l8l - 73 - 11 + 1 - 83 415 5 147 +1,469 -2.>028 + 87 472 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) 31,419 684 325 283 391 1,078 34,179 +120 + 3 -187 + 13 + 70 - 2 + 16 304 108 136 84 + 78 4- 22 + 75 31,514 687 194 299 332 1,077 34,104 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * L e s s than $500,000. 18,416 17,967 449 - 99 547 542 5 18,281 17,959 322 1 - 53 — mm - - + - - -105 - On November 5; 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,792 million, an increase of $l6 million for the week and an increase of $12 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 6, Oct. 29, 1958 1957 Nov. 5, 1958 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outrightBills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 2,483,771 25,423,172 95,800 25,518,972 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 26,056,941 15 4,822,311 93,187 222,462 51,964,228 19,192,892 887,297 20,080,189 321,181 367,942 502,469 338 35,162 - 25,000 - 25,000 - 65,263 + 13,115 124,202 + 2,004 1,422,110 21,507,291 50,500 10,000 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S, Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES - 186,256 + 18,767 + 825,137 +1,573,679 + + +_ + 50,500 95,800 146,300 + 272,506 166,502 +_ + 122 12,182 14^686 249 10,000 - 317,979 +2,090,837 - l4l.600 +1*949,237 +1,781,499 3 + + 631,728 + 10,308 + + 958 35,759 27,083,699 + 144,796 + 189,681 18,281,384 193,550 299,377 331,885 + + + - 14,694 348,683 19,259 5,702 309,028 - 432,914 224,203 53,409 + + 146 57979 + + + 628,915 442,243 371 3T3Bo + 160 + 19,106,196 4,381,532 22,601 50,594,028 C A P I T A L A C C O U N T S Capital paid in Surplus Other capital accounts / TOTAL LIABILITIES AND CAPITAL ACCOUNTS -1,984,500 42,867 + -1,941,633 53,436 + 6,332 357.502 809,195 203.503 51,964,228 + 169,065 + 81,611 16,266 34,059 17,946 35,759 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.5$ .1$ 3.7# Contingent liability on acceptances purchased for foreign correspondents 73,490 7,867 3,079 Industrial loan commitments 1,019 115 1/ Net change after elimination of Sec. 13b surplus of $27, 543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 5, 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 495,777 6,692 502,469 Industrial Acceptances loans 11,314 195 23,848 19 53 71 335 357152 U* S. Government securities 485,650 8,889,825 13^649,726 1,023,614 83,910 1,386,247 25,518,972 H.4.l(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 ON NOVEMBER 5. 1958 St. ClevePhilaBoston Richmond Atlanta Chicago New York Louis delphia land (In thousands of dollars) 19,192,892 948,973 5,140,443 887,297 56,465 181,922 20,080,189 Minneapolis Kansas City Dallas San Francisco 1060,790 1597,273 1176,630 864,590 3489,733 780,617 404,031 728,222 712,531 2289,059 57,431 78,999 79,460 52,692 158,963 44,058 20,810 41,820 29,070 85,607 1005,438 5,322,365 1118,221 1676,272 1256,090 917,282 3648,696 824,675 424,841 770,042 741,601 2374,666 F.R. notes of other Banks Other cash 321,181 23,183 26,572 81,245 72,409 20,045 15,640 33,808 29,631 21,566 28,369 24,147 65,588 7,731 17,710 13,184 8,786 7,177 11,789 17,748 367,942 28,068 16,272 31,247 45,028 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 502,469 338 3,224 327 192,866 5,705 17,248 11,491 58,298 88,076 15,223 3,531 69,993 5,668 31,146 42,180 11 35,162 35,162 77,431 1,422,110 21,507,291 1171,029 10,000 545 2,483,771 135,236 25,423,172 1384,241 72,362 248,414 58,013 358,611 81,750 125,892 92,567 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 877,368 508 1,747 409 2,523 574 865 651 626,327 142,777 219,876 161,674 126,382 433,865 101,323 6,410,911 1461,426 2250,586 1654,845 1293,607 4440,920 1037,113 29,917 60,699 452,449 917,996 210 427 52,251 106,015 534,827 1085,137 55,706 160,748 842,462 2431,077 391 1,130 97,292 280,753 995,851 2873,708 995,851 2873.708 95.800 95.800 Total 0. S. Govt, sees. 25.518,972 1384.241 6.506.711 1461.426 2250.586 1654.845 1293.607 4440,920 1037.113 534.827 1085.137 Total loans & securities 26,056,941 1387,792 6,734,739 1467,131 2267,834 1666,336 1351,905 4528,996 1052,336 538,369 1155,130 1001,519 2904,854 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 4,822,311 93,187 222.462 1 370,017 4,664 12.070 1 / 4 823,959 10,517 55.761 51,964,228 2829,737 13,100,999 1 317,366 4,290 12.495 1 442,644 9,917 20.076 6,658 14.354 1 2 397,345 754,002 9,047 11,386 11.576 38.117 1 222,840 6,862 8.944 2 / 1 1 1 165,960 241,406 235,184 453,808 5,222 4.621 4,871 10.289 7,714 8.839 12,039 25.320 2967,617 4466,192 3392,416 2757,705 9070,934 2141,099 1160,983 2200,705 2028,878 5846,963 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 1 397,780 E.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 availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK NOVEMBER 5, 1958 PhilaCleveSt. New York Richmond Atlanta Chicago Boston delphia land Louis (In thousands of dollars) 27,083,699 1573,131 6,337,117 1671,073 2493,156 2109,753 1371,491 5201,066 1204,294 18,281,384 193,550 299,377 331,885 819,470 22,819 16,530 4ll 5,211,142 20,194 1/91,157 277,675 859,230 5,600,168 889,132 19,106,196 4,381,532 318,569 782,506 22,601 1,086 2752,016 12,725,981 50,594,028 6,190 867,038 1453,852 473 19,101 20,010 25,810 l,6ll 1,274 314,687 1500,037 347,003 Minneapolis Kansas City 570,455 1080,345 Dallas San Francisco 765,133 2706,685 784,620 943,662 2844,504 650,335 408,103 845,901 957,505 2495,252 16,891 14,790 3,307 22,349 13,050 1,1662,662 1,085 2876,058 4342,858 3321,382 41,470 10,337 10,730 16,791 14,067 23,032 1,428 2582,668 6,960 11,310 14,169 1,073 2900,374 909 672,311 486 432,340 872,706 15,080 1,318 996,935 339,261 763,319 210,378 123,496 191,974 195,984 403,419 1,088 3,641 824 759 1127,050 890 893 2,317 1,626 819,608 980,687 390,936 13,327 2692,527 8868,400 2087,807 32,480 40,767 2145,915 1958,945 5695,089 CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS €onting. liab, on acceptances purchased for foreign correspondents Industrial loan commit. 357.502 809,195 203.503 17,953 47,148 12,620 103,613 223,530 47,875 51,964,228 2829,737 13,100,999 73,490 1,019 4,189 2/20,717 49,224 121,515 31,795 8,252 13,687 18,087 36,198 10,893 12,100 41,165 31,560 9,632 19,761 2967,617 4466,192 3392,416 2757,705 9070,934 2141,099 3,308 10,511 2,720 21,790 56,214 13,555 5,071 33,537 71,541 18,256 6,541 79 16,182 3,748 20,139 40,926 8,868 41,948 89,113 20,813 1160,983 2200,705 2028,878 5846,963 1,764 2,867 940 3,822 8,232 5317,440 1250,966 583,864 1106,551 814,557 2849,160 FEDERAL RESERVE AGENTS' ACCOUNTS "F. R. notes outstanding 28,003,936 1634,363 6,569,164 1736,398 2547,064 2169,656 1424,753 ^Collat. for F. JR. notes: Gold certificate acct. 11,393,000 600,000 3,120,000 64o,ooo 1000,000 77l,ooo 425,000 90,732 •" 5,615 — *~ "• Eligible paper U. S. Govt, securities 17,670,000 1150,000 3,600,000 1200,000 1600,000 1450,000 1100,000 Total collateral 29,153,732 1750,000 6,720,000 1845,615 2600,000 2225,000 1525,000 1/ After deducting $208,220,000 participations of other Federal Reserve Banks, 2/ After deducting $52,773,000 participations of other Federal Reserve Banks. 5,920 14,677 30,524 9,589 2300,000 430,000 200,000 300,000 303,000 1300,000 — 15,175 *• 69,942 — — — — 3200,000 900,000 425,000 820,000 525,000 1700,000 5500,000 1345,175 625,000 1189,942 828,000 3000,000
@FedFRASER