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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4.1 For Immediate Release October 23, 1958 WEEKLY AVERAGES OF MEMBER 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 ending October 22 increased $177 million to $18,652 million. Estimated required reserves increased $78 million; and estimated excess reserves increased $99 million to $6l4 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $246 million, compared with $43 million the week before. The principal changes supplying average reserves were an increase of $479 million in Federal Reserve float, and decreases of $80 million in "other" deposits with Federal Reserve Banks and $63 million in money in circulation. The principal offsetting changes were decreases of $145 million in U. S, Government securities held under repurchase agreement and $111 million bought outright, $104 million in member bank borrowings, and $40 million in gold stock, and an increase of $78 million in Treasury deposits with Federal Reserve Banks, Total Reserve Bank credit increased $121 million. As of bought outright securities held bank borrowings Wednesday, October 22, holdings of U. S. Government securities were $154 million lower than a week earlier, U. S. Government under repurchase agreement were $128 million lower, and member were $513 million higher. Member bank reserves, Reserve Bank credit, and related items 33 -111 -145 + 1 — — 368 1 1,401 27,046 20,724 5,220 1 Member bank reeerves-Kequired reserves (estimated) Excess reserves (estimated) — «• -dO 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) 25,242 1—\ 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, October 22, October 15,(October 23, Oct. 22, 1958 i 1957 1958 1958 (][n millions of dollars) — m +479 +121 - 40 52,990 + 81 31,435 - 63 - 8 + 78 681 464 308 332 1,117 34,338 18,652 18,038 614 +2 ,020 - 45 + 17 2 - - 230 6 116 +1,639 -1,941 + 89 213 - + 306 100 25,225 - — 32 — *• 757 2 1,019 27,035 20,690 - 5,221 52,9^6 - 19 - 80 - 4 - 9^ 9 + 67 + 8 + 272 31,333 684 525 297 317 1,116 34,271 +177 T78 + 99 - 485 536 51 18,675 17,991 684 - + On October 22, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,700 million, an increase of $49 million for the week and an increase of $242 million from the comparable date a year ago. H.4,l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) ASS E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Ft R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S, Government securities: Bought outright— Bills Certificates Notes Bonds Total "bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS LIABILITIES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Oct. 22, 1958 19,217,892 889,664 20,107,556 382,341 377,310 758,750 338 31,523 Change since . 99,001 -1,918,500 154,100 + 731,337 +1,573,679 40,876 - 10,818 + • titi'lti3 -1,877,624 + 54,474 - 28,032 1,293 18,343 + + 513,895 + 113,128 259 15,633 742 + 1,224,210 21,507,291 + 10,000 2,483,771 25,225,272 25,225,272 26,015,883 15 5,504,148 91,083 201,333 - 154,100 - 128,100 - 282,200 + 296,708 316,629 19,812,643 4,484,962 21,804 51,292,753 357,283 809,195 220,438 52,679,669 230,953 - 856,680 + + - 407 11,962 628,724 82,994 26,973,344 18,674,714 524,592 Oct. 23, 1957 Oct. 15, 1958 124,313 4" 184,879 26,933 22,101 + 260,158 815.350 165 638.351 10,000 - 317,979 +1,997,037 +1,997,037 +2,125,539 + 3 + 389,295 + 8,381 + 11,496 + 630,351 + 182,359 - 158,730 + 40,123 5,081 + : 58,333 857355 + 604,354 + 485,376 + 1,974 16,813 111 + 1/+ 34,059 + 9,516 - 24,875 - 628,724 + 630,351 Ratio of gold certificate reserves to deposit 4.1$ and F. R. note liabilities combined 43.0$ .3$ 43.0# Contingent liability on acceptances purchased 4,128 for foreign correspondents 1,985 65,674 111 Industrial loan commitments 1,019 1/ Includes, prior to September 2, 1958, Section 13b surplus of $27,543,000. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 22, 1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) U. S. Government Discounts and Industrial Acceptances securities loans advances Within 15 days 186 222,400 753,848 11,543 16 days to 90 days 4,902 19,980 29 8,859,375 91 days to 1 year 13,649,726 52 Over 1 year to 5 years 1,023,614 71 Oyer 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 758,750 25,225,272 31,523 H.4.l(b) Total ASSETS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M ON OCTOBER 22. 1958 St. PhilaCleveNew York Boston Richmond Atlanta Chicago Louis delphia land "~ (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco 19,217,892 949,847 5,060,624 1031,838 1664,062 1124,355 819,479 3412,411 778,765 431,753 769,726 753,999 2421,033 889,664 56,596 182,524 57,637 79,198 79,999 52,788 159,195 44,130 20,853 41,880 29,107 85,757 20,107,556 1006,443 5,243,148 1089,475 1743,260 1204,354 872,267 3571,606 822,895 452,606 811,606 783,106 2506,790 F.R. notes of other Banks Other cash 382,341 377,310 27,365 26,721 100,671 80,355 37,586 20,291 15,910 33,530 31,856 23,062 47,453 29,834 29,759 64,999 11,563 17,032 11,519 8,337 10,062 20,721 14,333 47,168 Discounts and advances Industrial loans AcceptancesBought outright D. S. Govt, securities: Bought outrightBills Certificates Notes Bonds Total Held under repurchase agreement 758,750 338 24,074 327 203,116 16,790 39,104 55,466 88,258 117,686 16,838 33,831 11 93,673 21,268 48»646 308,706 70,374 108,373 79,685 62,293 213,844 49,940 25,754 52,252 47,954 1,224,210 66,656 21,507,291 1171,029 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 877,368 452,449 917,996 842,462 210 427 409 885 508 1,747 651 391 10,000 2,523 574 545 52,251 106,015 97,292 626,327 142,777 219,876 161,674 126,382 433,865 101,323 2,483,771 135,236 25,225,272 1373,466 6,361,006 1450,050 2233,067 1641,963 1283,538 4406,350 1029,040 530,664 1076,690 988,099 138,379 2431,077 1,130 280,753 2851,339 31,523 11,648 37,876 31,523 Total U. S. Govt, sees. 25,225,272 1373,466 6,361,006 1450,050 2233,067 1641,963 1283,538 4406,350 1029,040 530,664 1076,690 988,099 2851,339 Total loans & securities 26,015,883 1397,867 6,595,645 1466,840 2272,171 1697,429 1371,796 4524,036 1045,878 564,506 1170,363 1009,367 2899,985 Due from foreign banks Uncollected cash items Bank premises Other assets . TOTAL ASSETS 1 1 / 4 1 1 1 1 2 1 2 / 1 1 1 15 5,504,148 411,380 1,0487735 330,539 481,743 410,932 440,293 869,627 238,479 165,%4 298,188 256,907 551,831 4,699 10,537 4,312 9,952 6,687 9,058 9,028 6,884 5,249 4,878 7,736 12,063 91,083 50,162 11,172 17,750 12,803 10,328 36,274 7,962 4,185 9,263 8,182 22,436 201,333 10,816 52,679,669 2885,292 13,129,257 2960,216 4574,317 3387,124 2781,030 9105,331 2150,694 1211,896 2316,009 2100,353 6078,150 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. E.4.1(c) Total L IABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 22, 1958 Cleve- Richmond Atlanta St. Boston I New York Phila Chicago delphia land Louis (In thousands of dollars) Minneapolis Kansas City Dallas San Francisco Federal Reserve notes 26,973,344 1575,390 6,297,265 1666,513 2496,471 2100,641 1351,139 5198,992 1196,114 569,370 1074,947 759,535 2686,967 Deposits: 18,674,714 808,045 5,300,506 874,974 1481,055 801,868 939,879 2852,312 674,952 441,523 888,737 987,223 2623,640 Member bank reserves U. S. Treas.-gen.acct. 524,592 35,238 96,115 29,375 43,212 39,128 32,575 57,858 24,122 21,412 46,392 40,872 58,293 296,708 16,815 Foreign 7,080 11,505 15,340 33,040 1/84,898 20,355 26,255 15,045 13,275 42,185 10,915 316,629 Other 4o4 263,932 1,036 761 2,967 1,530 862 1,632 281 2,054 1,119 40,051 Total deposits 19,812,643 860,502 5,745,451 925,740 1551,283 859,008 987,259 2953,217 711,621 470,296 948,688 1044,554 2755,024 Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 4,484,962 369,694 701,250 274,368 399,246 354,331 375,642 744,226 188,258 137,279 236,071 224,677 479,920 21,8o4 1,072 5,825 1,062 2,423 1,041 1,096 3,327 745 820 873 1,019 2,501 51,292,753 2806,658 12,749,791 2867,683 4449,423 3315,021 2715,136 8899,762 2096,738 1177,765 2260,579 2029,785 5924,412 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. 357,283 809,195 220,438 17,943 47,148 13,543 21,780 56,214 14,539 33,532 71,541 19,821 16,180 41,165 14,758 18,057 49,115 36,198 121,515 11,639 34,939 12,094 31,560 10,302 8,250 19,761 6,120 14,660 30,524 10,246 20,134 40,926 9,508 41,946 89,113 22,679 52,679,669 2885,292 13,129,257 2960,216 4574,317 3387,124 2781,030 9105,331 2150,694 1211,896 2316,009 2100,353 6078,150 65,674 1,019 3,745 F. R. notes outstanding 27,964,462 1632,727 Collat. for F. R. notes: Gold certificate acct. 11,383,000 600,000 Eligible paper 122,112 U. S. Govt, securities 17,570,000 1150,000 -Total collateral 29,075,112 1750,000 l/ After deducting $211,810,000 participations 2/ After deducting $47,172,000 participations 103,592 223,530 52,344 2/18,502 4,533 5,847 79 3,351 2,957 9,395 2,431 1,577 2,562 94o 3,4l6 7,358 FEDERAL RESERVE AGENTS' ACCOUNTS 6,564,803 1733,163 2555,133 2169,144 1407,761 5329,687 1253,707 582,069 1105,420 801,641 2829,207 3,120,000 640,000 1000,000 775,000 425,000 2300,000 430,000 200,000 300,000 293,000 1300,000 —— 11,700 —— —— —— —— 16,790 ——• 93,622 —— • 3,600,000 1200,000 1600,000 1450,000 1000,000 3200,000 900.000 425.000 820.000 525.000 1700.000 6,720,0001851,7002600,0002225,0001425,0005500^0001346,790 625,000 1213,622 818,0003600,000 of other Federal Reserve Banks, of other Federal Reserve Banks.
@FedFRASER