H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release E.4.1 OF TEE FEDERAL RESERVE SYSTEM January 9, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending January 8 decreased $4 9million to $19,658 million. Estimated required reserves decreased $62 million; and estimated excess reserves increased $13 million to $743 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $4l million, compared with $7 4million the week before. The principal changes reducing average reserves were decreases of $243 million in U, S« Government securities held under repurchase agreement, $90 million bought outright, and $222 million in Federal Reserve float, and an increase of $71 million in Treasury deposits with Federal Reserve Banks, The principal offsetting changes were decreases of $406 million in money in circulation, $60 million in foreign deposits with Federal Reserve Banks, and $49 million in "other" F. R, accounts (net), and an increase of $46 million in member ban kborrowings. Total Reserve Bank credit decreased $523 million. As of Wednesday, January 8, holding sof U, S, Government securities bought outright were $84 million lower than a week earlier ,U, S« Government securities held under repurchase agreement were $409 million lower, and member bank borrowings were $651 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 8; 1958 . Jan. 1, 1958 I Jan. 9. 1957 (In millions of dollars) Reserve Bank credit: U, S, Government securities-- Bought outright--System account 23,645 - 90 -956 Held under repurchase agreement 366 -243 +279 Acceptances- Bought outright 43 + 1 + 8 Held under repurchase agreement 10 - 14 - 2 Loans, discounts, an dadvances-- Member bank borrowings 702 + 46 +197 Other 6 wmm - 24 Float 1,328 -222 -211 Total Reserve Bank credit 26,100 -523 -709 Gold stock 22,781 + 7 +832 Treasury currency outstanding 5,146 - 1 + 80 54,027 -517 +203 Money in circulation 31,553 -406 + 74 Treasury cash holdings 768 - 8 - 15 Treasury deposits with F. R, Banks 529 + 71 +177 Foreign deposits with F, R. Banks 337 - 60 + 14 Other deposits with F. R, Banks 186 - 15 -101 Other F. R. account s(net) 996 - 49 + 97 34,369 +246 Member bank reserves-- 19,658 - 49 - 43 Required reserves (estimated) 18,915 T%2 715 Excess reserves (estimated) 743 + 13 + 13 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: Sold stock 22,781 Treasury cash holdings 766 Treasury currency outstanding 5,146 Member bank) - Required (est.) iq 827 Money in circulation 31,375 reserves ) - Excess (est.) '528 On January 8, 1958 ;U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,744 million, an increase of $15 million for the week and a decrease of $76 million from the comparable date Digitized for FRASER a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since Jan. 8, Dec. 31, Jan. 9, 1958 1957 1957 A S S E TS Gold certificate account 21,230,391 + 14,999 + 840,998 Redemption fund for F. R, notes 869,250 + 1 - 10,701 Total gold certificate reserves 22,099,^+1 + 15,000 + 830,297 F« R. notes of other Banks 564,349 + 12l,c6l + 88,979 Other cash 406,602 -f 67,980 + 27,337 Discounts and advances 706,659 + 651,295 + 360,566 Industrial loans 490 + 8 - 304 Acceptances: Bought outright 41,821 516 + 7,271 Held under repurchase agreement 13,130 - 10,221 + 8,296 U. S. Government securities: Bought outright— Bills 899,673 83,900 - 780,897 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,635,035 - 83,900 - 933,897 Held under repurchase agreement 110,100 - 409,250 + 110,100 Total U, S. Government securities 23,745,135 - 493,150 - 823,797 Total loans and securities 24,507,235 + 147,416 - 447,968 Due from foreign banks 15 7 Uncollected cash items 4,765,124 - 729,611 - 14,872 Bank premises 83,933 + 170 + 10,501 Other assets 242,262 + 18,678 26,843 TOTAL ASSETS 52,669,161 - 359,306 + 467,424 L I A B I L I T I ES Federal Reserve notes 27,285,556 - 249,235 + 120,619 Deposits: Member bank reserves 19,354,601 + 320,806 + 121,753 U. S. Treasurer--general account 473,777 7,033 + 110,712 Foreign 342,332 14,010 + 14,956 Other 171,311 - 74,973 - 110,210 Total deposits 20,342,021 + 224,790 + 137,211 Deferred availability cash items 3,720,859 - 349,945 + 130,158 Other liabilities and accrued dividends]./ 13,329 z hM 4,228 TOTAL LIABILITIES 51,361,805 - 376,009 + 383,760 C A P I T AL A C C O U N TS Capital paid-in ~ 346,109 1,003 + 19,603 + 61,605 Surplus (Section 7) 809,198 Surplus (Section 13b) 27,543 Other capital accounts 124,506 + 15,700 + 2,456 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,669,161 - 359,30& + 467,424 Ratio of gold certificate reserves to deposit 1.% and F. R. note liabilities combined 46.4$ + + Contingent liability on acceptances purchased for foreign correspondents 88,860 + 12,746 + 35,259 8 1,263 Industrial loan commitments 1,101 1/ No accrued dividends December 31, 1957* MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 8, 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 Industrial U. S. Government advances loans Acceptances securities Within 15 days 697,846 69 31,906 388,500 16 days to 90 days 8,813 20 23,045 6,128,266 91 days to 1 year 268 14,439,112 Over 1 year to 5 years 133 1,374,400 Over 5 years to 10 years 56,610 Digitized Ofovr eFRrA S1E0R years 1.358,247 http://fraser.stlouisfed.org/ Total 706,659 ¥90 54,951 23,7*45A35 Federal Reserve Bank of St. Louis

^CTffi3OT Og CONDITION OF EACH FEDERAL RESERVE BAN KON JANUARY 8 1958 Total Boston New York P de h l i p l h a i - a Cl la e n ve d - | Richmond I AtlantCah icago Lo S u t i . s M a i p n o n l e i - s | I K C a i n t s y a s) Dallas Fran S c a is n c o A S S E TS (In thousands of dollars) Gold certificate account 21,230,391 1014,688 5,678,563 1183,313 l86l,46l 1364,534 857,927 3839,499 866,802 410,084 829,229 804,974 2519,297 Redemption fund for F. R. notes 869,250 56,044 182,497 60,901 79,558 73,569 48,919 157,090 43,349 22,171 41,597 28,495 75.060 Total gold certificate reserves 22,099,641 1070,732 5,861,060 1244,214 1941,039 F.R. notes of other Banks 564,349 Other cash 406,602 Discounts and advances 706,659 Industrial loans 490 Acceptances: Bought outright 41,821 Held under rep. agree, 13,130 ti. S. Govt, securities: Bought outright— Bills 899,673 Certificates 19,933,612 Notes Bonds 2,801,750 Total 23,635,035 Held under rep. agree. 110-100 Total g. S. Govt ,sees. 23,745,135 Total loans & securities 24,507,235 Due from foreign banks 15 Uncollected cash items 4,765,124 Bank premises 83,933 Other assets 242.262 1 I 906,846 3996,589 910,151 432,255 870,826 833,469 2594,357 40,252 121,847 50,624 43,903 54,095 73,173 50,979 18,742 23,070 10,241 30,599 46,824 25,006 88,824 19,108 30,394 30,691 26,106 61,214 28,877 9,270 14,772 15,051 57,289 24,755 209,055 9,115 140,045 21,126 61,025 157,465 24,385 5,220 33,333 12,875 8,260 285 181 24 41,821 13,130 49,074 224,991 52,516 79,025 57,483 46,600 157,039 37,206 19,415 38,626 35,257 102,441 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,809 781,178 2269,720 152,824 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109,798 319.019 1289,197 5,910,673 1379,640 2076,054 1510,113 1224,224 4125,519 977,427 510,044 1014,723 926,233 2691,180 110*100 —«• 1289.197 6,020.773 1379.648 2076.054 1510.113 1224 224 4125.519 977.427 510.044 1014.723 926.211 2691.180 f 1314,237 6,284,779 1388,944 2216,099 1531,239 1285,249 4282,984 1001,812 515,288 1048,056 939,108 2699,440 1 1 /4 1 l 1 1 2 1 2/ 1 1 1 371,096 879,901 294,208 404,565 387,697 410,344 728,451 221,863 130,046 242,705 236,838 457,410 5,010 10,664 4,514 9,681 6,996 6,64l 6,823 6,139 5,307 4,926 6,261 10,971 13'276 59,46% 13,882 21.017 15,293 12.657 43.922 9.828 5.201 10.355 10.194 27.175 TOTAL ASSETS 52,669,1612 839,610 13,306,541 3015,495 4666,699 3464,115 2721,017 9170,964 2197,413 1120,437 2201,882 2071,521 5893,467 1 1/ After deducting $11,000 participations of other Federa lReserve Banka/ 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1XC) VT W1V-U-L-L. LV1M VJC -COIA. •n J. -l^LAUJLV-Xl Total Boston j New York P de h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fran S c a i n s co (In thousands of dollars; L I A B I L I T I ES Federal Reserve notes 27,285,556 1623,365 6,423,758 1721,128 2599,052 2170,17 11288,728 5295,872 1220,391 498,563 1069,683 742,825 2632,020 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 19,354,601 821,149 5,666,180 891,817 1550,803 858,448 954,857 2992,806 715,775 447,567 847,829 1001,612 2605,758 UU..SS..TTrreeaass..--ggeenn..aacccctt.. 473,777 29,371 72,042 37,901 36,485 38,132 47,662 52,577 24,292 23,573 26,851 35,517 49,374 FFoorreeiiggnn 342,332 19,722 1/ 93,904 23,874 30,794 17,646 15,570 49,478 12,802 8,304 13,494 17,992 38,752 OOtthheerr 171,311 230 111,737 10,369 1,118 3,459 1,959 1,462 2,352 324 772 1,536 35,993 TToottaall ddeeppoossiittss 20,342,021 570,472 5,943,863 963,961 1619,200 917,685 1020,048 3096,323 755,221 479,768 888,946 1056,657 2729,877 Deferred availability cash items 3,720,899 268,682 574,804 239,264 330,178 306,668 350,828 589,611 170,893 108,826 190,771 203,651 386,723 Other liabilities and accrued dividends 13,329 662 3,407 570 1,704 663 588 2,275 473 512 544 676 1.255 TOTAL LIABILITIES 51,361,805 2763,181 12,945,832 2924,923 4550,134 3395,187 2660,192 8984,081 2146,978 1087,669 2149,944 2003,809 5749,875 CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn 346,109 17,752 102,357 21,239 32,742 15,732 16,659 46,730 11,596 7,442 13,919 19,451 40,490 SSuurrpplluuss ((SSeeccttiioonn 77)) 809,198 47,013 223,963 55,923 71,550 41,236 36,192 121,504 31,586 19,697 30,533 40,871 89,130 SSuurrpplluuss ((SSeeccttiioonn 1133bb)) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOtthheerr ccaappiittaall aaccccoouunnttss 124,506 8,653 27,070 8,921 11,267 8,611 7,212 17,220 6,732 4,556 6,349 6.083 11.832 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 52,669,161 2839,610 13,306,541 3015.495 4666,699 3464.115 2721.017 9170.964 2197,413 1120.437 2201.882 2071,521 5893,467 Conting. liab. on acceptances purchased for foreign correspondents 88,860 5,067 2/ 25,030 6,134 7,912 4,534 4,000 12,713 3,289 2,134 3,467 4,623 9,957 Industrial loan commit. 1,101 19 77 65 940 T>TTO-Gir>xrc , fx mcwnc 1 A < ^nnTTTJrpQ F. R. notes outstanding |28,561,344 1704,556 6,774,657 1793,376 2695,748 2255,354 1366,234 5466,827 1274,821 537,166 1104,171 791,610 2796,824 Collat. for F. R. notes: Gold certificate acct. 12,273,000 700,000 3,270,000 640,000 1130,000 945,000 425,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 66,115 8,777 -- -- — — 24,200 — 33,138 U. S. Govt, securities 17,165,000 1150,000 3.600.000 1200.000 1600.000 1150.00 01000.000 3100.000 895.000 425.000 820.000 525.000 1500.000 1850,000 6,870,000 1848,777 2730.000 2295.000 1425.000 5600.000 1369.200 555.000 1153.138 808.000 3000,000 Total collateral 29,504,115 l/ After deducting $248,428,000 participations of other Federa lReserve Banks. 2/ After deducting $63,830,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis