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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release September 25, 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 September 24 decreased $168 million to $18,404 million. Estimated required reserves decreased $135 million; and estimated excess reserves decreased $33 million to $654 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $221 million, compared with $124 million the week before. The principal changes reducing average reserves were decreases of $130 million in member bank borrowings, $108 million in U, S. Government securities bought outright, and $44 million in gold stock, and an increase of $204 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $154 million in Federal Reserve float, and decreases of $108 million in money in circulation and $89 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $86 million. As of Wednesday, September 24, holdings of U. S. Government securities bought outright were $55 million lower than a week earlier and member bank borrowings were $130 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 Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding 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) Averages of daily figures Change from week ending For week ending Sept. IT. 19581 sept. 25,1957 Sept. 24, 1958 (In millions of dollarsf 24,893 - 108 29 - 2 433 . * 1,203 26,558 £0,895 5,216 52,669 31,285 683 508 308 320 1,162 34,265 130 — - + - 4- 4- + + + + 1,720 10 + 667 7 115 + 936 * 1,733 93 704 - - 154 16 44 1 129 108 11 204 89 38 6 39 «* + - - + 233 86 251 78 65 • ?7 1^5 168 Member bank reserves— 559 18,404 666 Required reserves (estimated) 135 17,75? + 107 654 Excess reserves (estimated) 33 * Less than $500,000. For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWEIVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 20,874 Treasury cash holdings 686 Treasury currency outstanding 5>219 Member bank) - Required (est.) 17,691 Money in circulation 31*176 reserves ) - Excess (est.) 410 tm On September 24, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,534 million, an increase of $108 million for the week and an increase of $99 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 Sept. 25, Sept. 17, 1958 mi Sept. 24, 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 outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 19,415,892 872.431 20,288,323 400,355 + 385,370 + 336,673 + 340 16,001 -1,10-3. 17,104 38,420 16,298 129,513 28,102 799 858,810 55,000 21,507,291 10,000 265 + 11,223 —— + 441,937 + 1,573,679 + 10,000 55,POO + 1,707,637 - 2.483.771 24,859,872 - 1,683,499 +29.189 - 1,654,310 40,722 1,233 445,384 - - 311422 55.000- + 1,70T,637 73,714 + 1,273,211 25,224,987 + 7 15 266,793 5,356,869 -1,031,769 + 8,580 320 + 90,495 + + 24.858 H , % 153.318 + 51.899.732 - 908.526 122,830 Total loans and securities Due from foreign banks ~ Uncollected cash items Bank premises Other assets TOTAL ASSETS 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 26,843,919 - + 69,913 18,101,038 489,723 313,522 18,352 19,242)635 4,408,076 346,215 297,678 42,923 68,524 22,936 789,729 + 1,512 + - 917,832 - 493,029 115,535 19.088 50,513,718 106,679 56,610 I 89,1 576,02' 302,532 566 203,016 C A P I T A L A C C O U N T S 82 + 357,002 + Capital paid in 34,059 iA 809,195 Surplus 27.501 219.817 9,Jg2k -L Other capital accounts 122.830 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _5ls£SO*m - 908.526, Ratio of gold certificate reserves to deposit .1# 44.0& + and F. R. note liabilities combined Contingent liability on acceptances purchased 10,443 1,102 77,447 for foreign correspondents 300 1,031 Industrial loan rCiUSWl&A X UfctLL commitments tUMliWlUCUWO ^ ^ ^ i / ' m r i i L . pTiSTto September 2, 1958, Section 13b surplus of $27,543,000. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 24, 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 US days to 90 days 9 1 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 333,565 3,108 336,673 Industrial loans 178 29 58 75 340 Acceptances 9,107 18,995 28,102 U. S. Government securities 230,600 8,485,775 13,649,726 1,023,614 83,910 1.386.247 24,859,872 H.4.l(b) 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 Phila CleveTotal Boston New York Richmond delphia land (In thousands 19,415,892 936,430 5,047,132 101+3,138 1679,329 1117,140 174,365 78,908 71,874 858,045 3533,787 Kansas City Dallas 768,382 443,903 798,348 159,985 42,331 21,022 42,036 911,170 3693,772 810,713 464,925 840,384 53,125 San Francisco 751,753 2438,505 872,431 57,035 20,288,323 993,465 F.R. notes of other Banks Other cash 400,355 385,370 29,627 92,617 83,626 20,605 45,625 16,498 33,715 32,341 23,851 48,895 30,848 29,082 61,849 12,092 20,394 13,070 7,916 12,360 11,073 24,661 15,967 43,487 47,230 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 336,673 340 17,850 327 27,645 24,720 54,810 42,855 47,450 71,075 18,675 6,090 14,953 7,050 3,500 5,221,517 1099,454 1758,237 1189,014 28,296 13 29,243 86,171 780,996 2524,676 28,102 28,102 858,810 56,316 BANK OH SEPTEMBER 24, 1958 St. MinneAtlanta Chicago apolis Louis of dollars) 21,507,291 1171,029 10,000 545 2,483,771 135.2^6 24,859,872 1353,570 216,564 49,369 76,026 55,901 43,700 150,016 35,034 18,067 36,656 33,641 97,076 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 877,368 452,449 917,996 842,462 2431,077 2,523 574 885 651 508 1,747 409 210 427 391 1,130 626.127 142.777 219.876 l6l.6?4 126.182 411.865 101.323 52.251 106.015 97.292 280.753 6,268,864 1429,045 2200,720 l6l8,179 1264,945 4342,522 1014,134 522,977 1061,094 973,786 2810,036 Total U. S. Govt, sees. 24,859,872 1353,570 6,268,864 1429,045 2200,720 Total loans & securities 25,224,987 1371,747 6,324,611 1453,765 2255,530 1661,034 1312,395 4413,597 1032,809 529,080 1076,047 980,836 2813,536 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 15 5,356,869 90,495 153,318 46,760 1 391,075 4,733 8,116 1 / 4 1 1 1 1 4342,522 1014,134 2 1 522,977 106l,094 2 / 1 973,786 2810,036 1 1 99B,ii9 320,775 478,531 422,862 429,803 815,440 235,226 157,217 272,161 290,038 545,622 10,497 4,312 9,951 6,680 8,815 8,882 6,882 5,250 4,884 7,716 11,893 37,633 8,432 13,571 9,753 8,064 28,036 6,009 3.224 7,247 6.305 16,928 51,899,732 2827,060 12,768,624 2952,969 4566,034 3345,536 2749,991 9050,660 2124,126 1180,682 2224,157 2106,520 6003,373 l/ After deducting $ll,000participations of other Federal Reserve Banks. 2/ Less than $500,000. 1618,179 1264,945 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 24, 1958 B.4.l(c) Total Boston | New York | Richmond Atlanta Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES ^ Minne- j Kansas D a U a s ^ ^ (In thousands of dollars) L I A B I L I T I E S Federal Reserve notes Deposits: Member tank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Chicago 26,843,919 1570,073 6,309,824 1660,991 2489,193 2080,946 1318,226 5189,174 1185,791 563,474 1067,804 752,028 2656,395 18,101,038 ' 763,104 4,977,808 875,507 1467,161 769,859 937,369 2851,882 489,723 39,869 40,959 27,492 38,758 40,338 28,887 69,492 313,522 17,613 1/91,660 21,321 27,501 15,759 13,905 44,187 338,352 257 284,118 1,844 759 3,169 1,569 1,482 19,242,635 620,043 5,394,545 926,164 1534,179 «29,125 981,730 2967,043 4,408,076 356,235 649,466 415,402 836,740 960,748 2595,992 33,177 30,194 36,993 40,629 62,935 11,433 7,4l6 12,051 16,068 34,608 761 197 1,201 2,165 40,830 694,037 453,209 886,985 1019,610 2734,365 680,128 272,484 415,857 362,572 383,213 686,272 188,891 129,075 213,298 263,343 456,708 19,088 1,276 4,817 801 2,031 891 868 2,926 716 848 716 982 2,216 50,513,718 2748,427 12,389,314 2860,440 4441,260 3273,534 2684,037 8845,415 2070,235 ll46,6o6 2168,803 2035,963 5849,684 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. 357,002 809,195 219,817 17,924 47,148 13,561 103,673 223,530 52,107 21,790 56,214 14,525 33,496 71,541 19,737 16,163 4l,l&5 14,674 18,010 48,990 36,198 121,515 11,746 34,740 12,075 31,560 10,256 8,222 19,761 6,093 14,568 30,524 10,262 20,138 40,926 9,493 41,953 89,113 22,623 51,899,732 2827,060 12,768,624 2952,969 4566,034 3345,536 2749,991 9050,660 2124,126 1180,682 2224,157 2106,520 6003,373 77,447 1,031 4,417 2/21,802 5,347 6,897 3,952 3,488 11,083 2,868 1,860 3,023 4,030 8,680 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,821,129 1638,721 6,568,793 1717,750 2548,650 2141,269 1385,811 5289,238 1239,545 Collat. for F. R. notes: Gold certificate acct. 11,518,000 600,000 3,270,000 640,000 1000,000 775,000 425,000 2300,000 430,000 Eligible paper 58,348 — - - 24,720 — ---18,675 U. S. Govt, securities 17,570,000 1150,000 3,600,000 1200,000 1600,000 1450,000 1000,000 3200,000 900,000 Total collateral 29,146,348 1750,000 6,870,000 1864,720 2600,000 2225,000 1425,000 5500,000 1348,675 1/ After deducting $221,862,000 participations of other Federal Reserve Banks, 2/ After deducting $55 , 645,000 participations of other Federal Reserve Banks. 577,654 1103,965 799,451 2810,282 185,000 300,000 293,000 1300,000 -14,953 --425,000 820,000 525,000 1700,000 610,000 1134,953 818,000 3000,000
@FedFRASER