BOARD OF GOVERNORS For Immediate Release 5.4.1 OF THE FEDERAL RESERVE SYSTEM June 26, 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 June 2 5 increased $364 million to $18,983 million* Estimated required reserves increased $320 million; and estimated excess reserves increased $44 million to $710 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $6ll million, compared with $491 million the week before. The principal changes supplying average reserves were an increase of $320 million in Federal Reserve holdings of U. S. Government securities, and decreases of $130 million in "other" deposits with Federal Reserve Banks, $95 million in money in circulation, and $51 million in foreign deposits with Federal Reserve + f* PfiBcipal offsetting changes were decreases of $ 1 6 6 million in gold stock and $76 million in member bank borrowings. Total Reserve Bank credit increased $231 million. . °£ Wednesday, June 25, holdings of U. S, Government securities bought outright were $292 million higher than a week e a r l i e r , U, S. Government securities }"S er repurchase agreement were $ 7 8 million lower, and member bank borrowings were $26 million lower. 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) Member bank reserves-- Required reserves (estimated) Excess reserves (estimated) * Less than $500,000, For week ending June 25. 1958 Averages of daily figures Change from week ending June 18. 19581 June 26, 1957 (In millions of dollars) 24,891 111 45 99 * 1,024 26,170 21,374 5,204 52,748 30,975 698 44o 280 229 1,144 33,765 18,983 18,273 710 +310 + 10 - 76 + 66 - 95 - 19 - 51 -130 - 2 4>9B +2,003 + 48 + 25 - 904 1 - 296 + 876 -1,248 ± 98 - 275 + 126 - 78 - 37 - 127 - 25 :—S - 188 - 352 + 164 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 21,356 Treasury cash holdings 7 0 0 Treasury currency outstanding 5,204 Member bank) - Required (est.) 18.224 Money in circulation 30,973 reserves ) - Excess (est.) 344 On June 25, 1 9 5 8 , U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,999 million, a decrease of $113 million for the week and a decrease of $755 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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BOARD OF GOVERNORS For Immediate Release 5 . 4 . 1 OF THE FEDERAL RESERVE SYSTEM June 26, 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 d a i l y f i g u r e s of member bank r e se rves f o r the week ending June 2 5 increased $364 mi l l i on to $18,983 mi l l ion* Estimated r equ i r ed r e se rves increased $320 m i l l i o n ; and es t imated excess r e se rves increased $44 mi l l i on to $710 m i l l i o n . Excess r e s e r v e s exceeded member bank borrowings a t the Federa l Reserve Banks by $ 6 l l m i l l i o n , compared with $491 m i l l i o n the week b e f o r e .
The p r i n c i p a l changes supplying average r e se rves were an inc rease of $320 mi l l i on i n Federa l Reserve holdings of U. S. Government s e c u r i t i e s , and decreases of $130 m i l l i o n i n "other" depos i t s wi th Federa l Reserve Banks,$95 m i l l i on i n money in c i r c u l a t i o n , and $51 m i l l i o n i n f o r e i g n d e p o s i t s wi th Federa l Reserve + f* P f i B c i p a l o f f s e t t i n g changes were decreases of $ 1 6 6 m i l l i o n i n gold
stock and $76 m i l l i o n i n member bank borrowings. Tota l Reserve Bank c r e d i t increased $231 m i l l i o n .
. °£ Wednesday, June 25, holdings of U. S, Government s e c u r i t i e s bought o u t r i g h t were $292 m i l l i o n h igher than a week e a r l i e r , U, S. Government s e c u r i t i e s
} " S e r repurchase agreement were $ 7 8 m i l l i on lower, and member bank borrowings were $26 m i l l i o n lower.
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 secur i t ies-*-
Bought out r ight - -Sys tem account Held under repurchase agreement
Acceptances—bought o u t r i g h t Loans, d i scoun t s , and advances--
Member bank borrowings Other
F loa t Tota l Reserve Bank c r e d i t
Gold stock Treasury currency outs tanding
Money i n c i r c u l a t i o n Treasury cash holdings Treasury depos i t s wi th F . R. Banks Foreign depos i t s wi th F . R. Banks Other depos i t s wi th F . R. Banks Other F. R. accounts (ne t )
Member bank r e s e r v e s - -Required r e se rves (es t imated) Excess r e se rves (es t imated)
* Less than $500,000,
For week ending June 25. 1958
Averages of d a i l y f i g u r e s Change from week ending
June 18. 19581 June 26, 1957 ( In m i l l i o n s of d o l l a r s )
24,891 111
45
99 *
1,024 26,170 21,374
5,204 52,748
30,975 6 9 8 44o 280 229
1,144 33,765
1 8 , 9 8 3 18,273
710
+310 + 10
- 7 6
+ 66
- 95
- 1 9 - 51 -130 - 2 4>9B
+2,003 + 48 + 25
- 904 1
- 296 + 8 7 6 -1 ,248
± 9 8 - 275
+ 126 - 78 - 37 - 127 - 25
: — S
- 188 - 3 5 2 + 164
For Wednesday Federa l Reserve f i g u r e s see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - a t t a ched . La te s t Wednesday f i g u r e s f o r other i tems appear ing above a r e , i n mi l l i ons of d o l l a r s :
Gold stock 21,356 Treasury cash holdings 7 0 0 Treasury currency outs tanding 5,204 Member bank) - Required ( e s t . ) 18.224 Money in c i r c u l a t i o n 30,973 rese rves ) - Excess ( e s t . ) 344
On June 25, 1 9 5 8 , U. S. Government s e c u r i t i e s held i n custody by the Federa l Reserve Banks f o r f o r e i g n account were $ 2 , 9 9 9 m i l l i o n , a decrease of $113 mi l l i on f o r the week and a decrease of $ 7 5 5 m i l l i on from the comparable d a t e a year ago. Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
B.4.1(a) STATEMENT OF COSDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED
(In thousands of d o l l a r s )
A S S E T S Gold c e r t i f i c a t e account Redemption fund f o r F . R. notes
Total gold c e r t i f i c a t e r e se rves F. R. notes of o ther Banks Other cash Discounts and advances I n d u s t r i a l loans Acceptances—bought o u t r i g h t U. S. Government s e c u r i t i e s :
Bought ou t r igh t— B i l l s C e r t i f i c a t e s Notes Bonds
Total bought ou t r i gh t Held under repurchase agreement
Total U. S. Government s e c u r i t i e s
Total loans and s e c u r i t i e s Due from fo re ign banks Uncollected cash items Bank premises Other a s s e t s
TOTAL ASSETS
L I A B I L I T I E S Federal Reserve noteU Deposi ts :
Member bank rese rves U. S. Treasurer—general account Foreign Other
Total depos i t s 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
C A P I T A L A C C O U N T S Capi ta l paid i n Surplus (Section 7) Surplus (Section 13b) Other c a p i t a l accounts
TOTAL LIABILITIES AND CAPITAL ACCOUNTS
Rat io of gold c e r t i f i c a t e reserves t o depos i t and F. R. note l i a b i l i t i e s combined
Contingent l i a b i l i t y on acceptances purchased f o r fo r e ign correspondents
MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 25. 1958 (Acceptances and s e c u r i t i e s held under repurchase agreement a re c l a s s i f i e d as
maturing wi th in 15 days i n accordance with maximum matur i ty of the agreements.)
Discounts and I n d u s t r i a l
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
advances 125,798
2,181
127,979
loans 153
29 73 88
m
Acceptances 16,529 26,695
43,224
U. S. Government , s e c u r i t i e s
554,200 8 , 6 5 2 , 4 9 3
13,364,558 1,013,614
5 6 , 6 1 0 1,358,247
2^,999,722 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
E.4 .1 (b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JUNE 25, 1958 Total Boston New York Ph i l a -
delphla Richmond Cleve land
( I n thousands At lan ta Chicago of d o l l a r s )
S t . Louis
Minne-a p o l i s
Kansas Ci ty Dal las San
Francisco
A S S E T S
Gold c e r t i f i c a t e account Redemption fund f o r
F . R. notes Tota l gold c e r t i f i c a t e
r e se rves
F.R. no tes of o ther Banks Other cash
Discounts and advances I n d u s t r i a l loans Acceptances--
Bought o u t r i g h t U. S. Govt, s e c u r i t i e s :
Bought o u t r i g h t - -B i l l s C e r t i f i c a t e s Notes Bonds
Tota l Held under-repurchase
agreement
"Total U. S. Govt, sees .
Tota l loans & s e c u r i t i e s
Due from f o r e i g n banks Uncollected cash i tems Bank premises Other a s s e t s