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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release September 4, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE B A H CREDIT, AMD 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 3 decreased $80 million to $18,446 million* Estimated required reserves decreased $78 million; and estimated excess reserves decreased $2 million to $589 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $128 million, compared with $321 million the week before. The principal changes reducing average reserves were decreases of $75 million in gold stock and $65 million in Federal Reserve float, and increases of $130 million in money in circulation, $71 million in foreign deposits with Federal Reserve Banks, and $53 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $191 million in member bank borrow. million in U. S. Government securities bought outright, and a decrease o $37 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $221 million. As of Wednesday, September 3; holdings of U. S. Government securities ought outright were $169 million higher than a week earlier and member bank borrowings were $5 million lower. This week!s statement reflects the repayment to the Treasury, pursuant to the provisions of the Small Business Investment Act of 1958, of $27,546,000, the advanc s ^ Previously made to the Reserve Banks under Section 13b of the l r V e 5 \ This resulted in the elimination of Section 13b surplus Member L n k 4 ° f ti>°°0 » ^ t l o n ^ Reserve Bank credit, and related items Reserve Bank credit: U. S, Government securitiesBought 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 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) Member bank reserves-Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. For week ending — Change from week ending 0 Sept, 3, 1958 I _____ Aug, 27, 195# I Sept. 4, 1957 1958 . (In millions of dollars) 25,353 + 96 -- +1 890 - ' 48 32 - 1 -- + 461 +191 - 1 - 65 +221 - 75 - * 7 1 365 7 66 +1,410 -1,615 + 93 - Ill 792 26,638 21,011 5,211 52,861 +157 31,379 693 539 305 324 1,175 34,415 +130 + 5 + 53 + 71 + 4 - 37 +227 + 230 66 54 35 43 22 202 18,446 17,857 5 89 - 80 - 78 - 2 + 314 489 175 «• - + + + For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars; Gold stock 21,011 Treasury cash holdings 69? Treasury currency outstanding 5,212 Member bank) - Required (est.) 17,845 Money in circulation 31,436 reserves ) - Excess (est,) 343 On September 3, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $ 3 , 3 6 9 million, a decrease of $20 million for the week and a decrease of $135 million from the comparable date a year ago. Hi4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Sept. 3, 1958 ASS E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 19,550,894 873,313 20,424,207 312,261 359,486 184,588 341 . 31,084 1,385,060 Change since Sept. 4, August 27, 1957 1958 - - 79,997 1 75I0K 41,709 - 14,691 4,779 + 169,100 21,507,291 25,386,122 + 169,100 25.306,122 + 169,100 +1,962,907 25,602,135 15 4,544,227 89,949 + 164,325 + + + + 48,827 30 13,009 94,705 +1,720,384 7 + 187,694 + 8,527 + 34,502 + 366,904 139,078 74,486 51,463!300 27,006,647 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) ., Surplus (Section 13b )=/ Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 10,000 - 317,979 +1,962,987 131,108 L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES + 697,287 +1,573,679 + 10,000 2.483,771 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS -1,549,498 + 35,007 -1,514,491 47,458 22,247 - 248,889 256 + 6,542 18,188,428 518,136 313,924 330,615 19,351,103 3,731,344 17,163 50,106,257 + + + + + + 51,385 42,981 58,070 11,114 60,780 87,634 232 112,457 356,024 + 267 51.4&388 + + 3 27,543 9,527 94,705 809,195 + + + + + 26,503 17,155 29,951 58,649 72%355 217,488 + 363,314 + + 17,865 61,602 + 27,543 48,334 366.904 1,016 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.1$ .3% 3*4% Contingent liability on acceptances purchased for foreign correspondents 87,300 5,913 + 21,880 Industrial loan commitments 1,036 — 313 1/ Eliminated September 2 in connection with repayment of advances previously received from the Treasury under Section 13b of the Federal Reserve Act. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 3, 1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and advances 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 182,158 2,430 184;588 Industrial Acceptances loans 8,328 179 20 22,756 63 79 W 31,084 U. S. Government securities 305,610 8,937,015 13,649,726 1,023,614 83,910 1,3%, 25,3(16,122 3.4.1(b) Total A S S E T S STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK SEPTEMBER 3. 1958 St; PhilaCleveBoston New York Richmond Atlanta Chicago Louis delphia land (In thousands of dollars) 5,189,728 1092,115 1691,045 1130,176 793,363 160,696 42,532 21,250 42,177 906,319 3692,678 812,394 428,674 835,540 15,696 7,688 7,356 10,029 17,027 15,159 5,800 20,180 1,453 57,443 20,424,207 998,550 F.R, notes of other Banks Other cash 312,261 26,114 26,021 63,541 82,829 32,817 19,544 11,026 35,120 25,434 19,626 51,680 27,749 24,064 57,951 9,012 20,080 Discounts and advances Industrial loans AcceptancesBought outright U. S, Govt, securities: Bought outrightBills Certificates Notes Bonds Total Held under repurchase agreement 184,588 341 13,300 23,535 2,960 11,205 20,590 27,095 37,075 21,395 79,620 122,612 90,155 70,477 241,942 359,486 73,986 5,366,022 1149,058 1769,643 1204,162 48,521 327 14 28,360 San Francisco 86,513 727,506 2533,661 28,494 37,690 31,084 31,084 1,385,060 78,598 699,146 2447,148 407,424 873,313 56,943 Dallas 769,862 941,107 176,294 Kansas City 857,798 3531,982 19,550,894 Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves Minneapolis 75,414 349,268 29,138 452,449 59,118 54,255 156,560 6.401.568 1459.296 2247.306 1652.433 1291.722 4434.448 1035.601 534.048 1083.556 994.400 2869.520 Total loans & securities 25,602,135 1395,851 6,456,187 1462,256 2258,511 1673,023 1318,817 4471,523 1056,996 539,862 1103,736 995,853 2869,520 TOTAL ASSETS 25.386.122 1382.224 56,501 842,462 2431,077 1 391 1,130 97,292 280,753 Due from foreign "banks Uncollected cash items Bank premises Other assets 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 1 ^ 508 1,747 885 651 574 2,523 626.327 142.777 219.876 161.674 126.382 433.865 877,368 409 101.323 917,996 210 427 52.251 106.015 Total U. S. Govt, sees. 21,507,291 1171,029 10,000 545 2*48^171 135.236 25,386,122 1382,224 6,401,568 1459,296 2247,306 1652,433 1291,722 4434,448 1035,601 534,048 1083,556 994,400 2869,520 15 4,544,227 89,949 131.108 1 333,744 4,733 7.026 V 4 1 1 1 1 2 1 2 / 1 1 1 8467580 309,446 389,111 368,594 356,056 694,369 182,894 137,B76 271,518 218,027 436,012 10,479 4,335 9,981 6,705 8,701 8,651 6,882 5,230 4,870 7,646 11,736 31.764 7.276 12.018 6.837 24.328 5.176 2.751 5.964 5.195 14.393 51,463,388 2792,040 12,857,406 2984,733 4485,411 3305,925 2676,160 8973,566 2093,435 1137,777 2239,014 1986,414 5931,507 1/ After deducting $11,000 participations of other Federal Reserve Banks. 2/ Less than $500. 8.380 H.i'.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 3, 1958 Total Boston New York Richmond Atlanta Chicago Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES FraSsco (In thousands of dollars) 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 ^ity" 1 E a l l a B ™™!a 27,006,64? 1587,677 6,360,941 1671,637 2495,916 2087,945 1321,065 5212>430 1192,014 556,208 1078,263 748,228 2694,323 18,188,428 757,520 41,484 518,136 17,214 313,924 602 330,615 19,351,103 816,820 5,006,483 899,526 1477,753 804,332 937,229 2909,221 3,731,344 309,163 81,580 1/97,088 "280,326 5,465,477 41,437 20,838 38,551 26,878 30,927 15,402 964,339 1544,745 854,860 2,538 655,014 257,172 1,563 320,257 4,199 35,861 13,590 652,400 4c6,830 836,620 53,339 43,186 28,646 11,174 23,143 7,248 46,025 11,778 988,087 3006,155 692,873 437,570 895,495 1,407 409 292,094 301,433 552,239 653 1,072 349 155,042 109,650 918,220 2582,294 44,033 15,704 2,032 53,110 33,824 35,465 979,989 2704,693 210,474 188,055 380,751 1,182 4,088 835 2,105 843 925 2,749 639 727 647 656 1,767 17,163 50,106,257 2714,842 12,485,520 2893,983 4363,023 3235,742 2611,510 8773,573 2040,568 1104,155 2184,879 1916,928 5781,534 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. 356,024 809,195 191,912 17,913 47,148 12,137 103,668 223,530 44,688 21,650 56,214 12,886 33,476 71,541 17,371 16,119 41,165 12,899 18,003 48,875 10,449 29,603 12,060 36,198 121,515 31,560 9,247 8,205 19,761 5,656 14,526 30,524 9,085 20,116 40,926 8,444 41,413 89,113 19,447 51,463,388 2792,040 12,857,406 2984,733 4485,411 3305,925 2676,160 8973,566 2093,435 1137,777 2239,014 1986,4i4 5931,507 87,300 1,036 4,976 __ 2/24,619 __ 6,024 — 7,770 96 4,452 —— 3,928 —— 12,484 — — 3,230 2,095 — — 3,405 4,539 9,778 94o —— — — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,820,706 1641,902 6,558,001 1720,345 2548,604 2139,526 1376,676 5309,630 Collat. for F. R. notes: Gold certificate acct. 11,493,000 600,000 3,270,000 64o,ooo 1000,000 775,000 425,000 2300,000 — — —— 2,960 — — —— —— Eligible paper 44,535 1150,000 3,600,000 1200,000 1600.000 1400,000 1000,000 3200.000 17,520,000 U. S. Govt, securities 1750,000 6,870,000 1842,960 2600,000 2175,000 1425,000 5500,000 Total collateral 29,057,535 1/ After deducting $216,836,000 participations of other Federal Reserve Banks. 2/ After deduct!-. ? $62,681,000 participations of other Federal Reserve Banks. 1236,234 569,560 1104,777 798,095 2817,356 430,000 170,000 300,000 283,000 -21,395 —20,180 900.000 425,000 820.000 525,000 1351,395 595,000 1140,180 808,000 1300,000 -— 1700,000 3000,000
@FedFRASER