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

I n d u s t r i a l loan commitments

June 25# 1958

19,934,391 832,389

20,766,780 338,253 351,227 127,979

343 43,224

2,220,360 19,946,105

2,789,257 24,955,722

44,000 24,999,722

25,171,268 15

5,098,192 88,261

193,903 52*007*899

26,569,455

18,567,677 523,657 268,413 384,609

19,744,356 4,302,180

June 1958

Change %

9 9 , 0 0 0 2 j . 1 1

- 1 0 1 , 1 1 1 + 6 , 0 0 7 + 13,055 - 2 6 , 0 1 6

1 3 8 2

+ 2 9 2 , 1 0 0

+ 2 9 2 , 1 0 0 78,000

+ 214,100

+ 187,944

-1 ,994,631 + 466 + 13,100 -1,875,170

s ince June 26,

1957

-1,165,000 - 12,875 -1,177)875 + 20)597 + 10,238 - 6 9 6 , 0 6 8

401 + 23,308

+2,045,147 +8,583,906 -8,571,413 - 12,493 +2,045,147 + 44,000 +2,089*147

+ 1 , 4 1 5 > 9 8 6 D 7

- 125,833 + 9,091 - 26,043 + 126,154'

8,447 + 34,140

- 396,455 h 189,834 - 21,018 h 202,428 : 2 5 , 2 1 1 -1,807,114

1,049 + +

60,531 68,133

141,393 112,444 21,347

107,564

5 0 , 6 3 9 , 6 7 1 -1,839,723 + 121,399

3 5 3 , 1 2 9 + 479 + 20,457 8 0 9 , 1 9 8 + 6 1 , 6 0 5

2 7 , 5 4 3 - -

1 7 8 , 3 5 8 - 3 5 , 9 2 6 - 77,307 5 2 , 0 0 7 , 8 9 9 -1,875,170 126,154

44.8$ .2$ - 2.6#

115,041 640 + 5 3 , 6 3 0 991 6 787

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

TOTAL ASSETS

1 9 , 9 3 4 , 3 9 1 951,669 5,978,126 1056,734 1676,790 1092,135 756,164 3642,690 743,070 406,457 6 6 7 , 0 6 5 722,768 2240,723

8 3 2 , 3 8 9 53,378 170,360 56.459 75,215 78,666 46,792 147,378 42,011 21,558 40,531 27,646 72.395

2 0 , 7 6 6 , 7 8 0 1005,047 6,148,486 1113,193 1752,005 1170,801 802,956 3790,068 785,081 428,015 707,596 750,414 2313,118

3 3 8 , 2 5 3 3 5 1 , 2 2 7

14,247 23,483

85,920 26,116 27,464 18,921 65,463 21,069 38,074 17,538

50,938 26,438 29,979 52,507

13,477 20,850

14,198 8,274

7,567 10,706

17,862 35,105 17,003 46,281

1 2 7 , 9 7 9 3 4 3

10,835 327

10,160 5,345 17,363 12,575 9,490 26,465 4,600 5,650 16

17,496 800 7,200

43,224 — — 43,224 -— -— -— — — — « •

2,220,360 19,946,105

2.789,257 24,955,722

44.000

24.999,722

25,171,268

15 5,098,192

88,261 193,903

52,007,899

120,895 559,904 127,635 196,557 144,528 1086,025 5,029,769 1146,582 1765,729 1298,332

151.869 703.361 160.338 246,919 181.558 1358,789 6,293,034 1434,555 2209,205 1624,418

112,978 387,852 90,578 1014,918 3484,186 813,681

46,710 94,771 86,974 250,978 419,606 - 8 5 1 , 3 6 0 781,309 2254,608

141.926 487.227 113.785 58.678 119.054 109.258 315.284 1 2 6 9 , 8 2 2 4 3 5 9 , 2 6 5 1 0 1 8 , 0 4 4 5 2 4 , 9 9 4 1 0 6 5 , 1 8 5 9 7 7 , 5 4 1 2 8 2 0 , 8 7 0

44.000

1358,789 6 , 3 3 7 , 0 3 4 1434,555 2209,205 1 6 2 4 , 4 l 8 1 2 6 9 , 8 2 2 4 3 5 9 . 2 6 5 1018.044 5 2 4 . 9 9 4 1 0 6 5 , 1 8 5 977,541 2820,870

1369,951 6,390,418 1439,900 2 2 2 6 , 5 6 8 1636,993 1279,312 4385,730 1 0 2 2 , 6 4 4 5 3 0 , 6 6 0 1 0 8 2 , 6 8 1 978,341 2 8 2 8 , 0 7 0 1 1 / 4 1 1 1

3 6 9 , 6 2 5 952,027 328,998 467,821 404,452 4,803 10,685 4,379 9,916 6,801

10,435 47,394 10,746 17.405 12,476

1 2 1 406,940 777,367 200,035

8,339 8,104 6,739 9.867 35,190 7.669

2 / 1 1 1 131,E31 293,990 2 9 0 , 0 9 8 475,008

5 , 2 8 1 4,888 6 , 7 6 9 11,557 4.045 8.660 8.491 21.525

2797,592 13,700,397 2944,402 4539,254 3267,983 2588,332 9075,406 2 0 5 6 , 4 9 6 1 1 2 2 , 3 0 4 2 1 1 6 , 0 8 9 2068,979 5730,665

1 / A f t e r "deducting $11,000 p a r t i c i p a t i o n s of o ther Federal Reserve Banks. 2 / Less than $500. Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4 .1 (c ) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 25, 1958 Tota l Boston New York P h i l a -

d e l p h i a Cleve-

land Richmond At lan ta Chicago S t . Louie

Minne-apo l i s

Kansas City Dal las San

Francisco ( In thousands of do l l a r s )

1585,136 6,309,991 1666,422 2473,203 2045,635 1260,548 5131,086 1175,392 542,255 1055,235 712,925 2611,627

775,997 5,391,703 867,528 1494,920 791,132 901,149 3044,301 657,947 421,443 770,994 976,422 2474,141 545 515,028 596 570 517 535 501 546 2,184 561 592 1,482

15,276 1/75,989 18,492 23,852 13,668 12,060 38,324 9,916 6,432 10,452 13,936 30,016 564 329,772 10.081 853 2.018 1.010 828 1.594 318 1.024 1.451 35.096

L I A B I L I T I E S Federa l Reserve notes Deposi ts :

Member bank rese rves U .S .Treas . -gen .acc t . Foreign Other

To ta l depos i t s

Deferred a v a i l a b i l i t y cash i tems

Other l i a b i l i t i e s and accrued dividends

TOTAL LIABILITIES

/ CAPITAL ACCOUNTS

Cap i t a l pa id i n Surplus (Sect ion 7) Surplus (Sect ion 13b) Other c a p i t a l accounts

TOTAL LIABILITIES AND CAPITAL ACCOUNTS

Conting. l i a b . on accept -ances purchased f o r f o r e i g n correspondents

I n d u s t r i a l loan commit.

26,569,455

18,567,677 523,657 268,413 384.609

19,744,356

4,302,180

23.680 50,639,671

353,129 809,198

27,543 178.358

52,007,899

115,041 QQi

792,382 6,312,492 896,697 1520,195 807,335 914,754 3083,954 670,003 430,377 783,031 992,401 2540,735

339,468

.1*222-

696,212 286,181 421,375 341,266 347,664 658,049 157,466 114,488 222,332 292,250 425,429

6,072 1.089 2.637 1.192 1.159 3.609 809 730 924 1.269 2.861 2718,315 13,324,767 2850,389 4417,410 3195,428 2524,125 8876,698 2003,670 1087,850 2061,522 1998,845 5580,652

17,825 103,529 21,521 33,251 15,907 17,447 48,669 11,893 8,122 14,301 19,960 40,704 47,013 223,963 55,923 71,550 41,236 36,192 121,504 31,586 19,697 30,533 40,871 89,130

3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 .11,428 40,819 12,080 16,037 1 2 ^ 6 3 9., 806 27,10.6 8.826 5.562 8.596 7.996 18.039

2797.592 13.700.397 2944.402 4539.254 3267.983 2588.332 9075.406 2056.496 1122.304 2116.089 2068.979 5730.665

6,555 2 / 3 2 , 4 7 1 7,935 10,235 ,51.

5,865 5,175 16,445 4,255 2,760 4,485 940

5,980 12,880 FEDERAL RESERVE AGENTS' ACCOUNTS

F . R. no tes outs tanding C o l l a t . f o r F . R. notes :

Gold c e r t i f i c a t e a c c t . E l i g i b l e paper U. S. Govt, s e c u r i t i e s

To ta l c o l l a t e r a l

2 7 , 4 8 3 , 3 0 8 j 1 6 2 8 , 1 8 6 700,000

1150.000

6,540,763 1724,716 2550,151 2123,309 1316,905 5230,836 1217,418 559,211 1086,170 761,644 2743,999

3,270,000 640,000 1070,000 775,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 — 5,345 — — — 4,600 — 17,496 —

3,600,000 1200.000 1600,000 1400.0C0 1000,000 3000,000 875,000 425,000 820,COO 525,CCO 15CO,000

1 / A f t e r deducting f192,424,000 p a r t i c i p a t i o n s 2 / A f t e r deducting $ 82,570,000 p a r t i c i p a t i o n s

11,948,00C 27,441

17.095.00C . 29.070.443J 1850.000 6,870.000 1845.345 2670.000 2175.000 1425.000 5400,000 1309,600 580.000 1137.496 808.000 3000.000

of o ther Federa l Reserve Banks of o ther Federa l Reserve Banks.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis