H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 16, I958 WEEKLY AVERAGES OF MEMBER BAH 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 January 15 decreased $310 million to $19,348 million. Estimated required reserves decreased $190 million; and estimated excess reserves decreased $120 million to $623 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $48 million, compared with $41 million the week before. The principal changes reducing average reserves were decreases of $289 million in Federal Reserve float, $227 million in U. S. Government securities held under repurchase agreement and $64 million bought outright, and $127 million in member bank "borrowings. The principal offsetting changes were decreases of $346 million in money in circulation, $31 million in foreign deposits with Federal Reserve Banks, and $26 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $710 million. As of Wednesday, January 15, holdings of U. S. Government securities bought outright were $78 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $4l million higher, and member bank borrowings were $422 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 15, 1958 Jan. 8. 1958 I Jan. 16. 1957 (In millions of dollars) Reserve Bank credit: U. S. Government eecuritiee-- Bought outright--System account 23,581 - 64 -712 Held under repurchase agreement 139 -227 +139 Acceptances-- Bought outright 42 - 1 + 8 Held under repurchase agreement 7 - 3 + 7 Loans, discounts, and advances-- Member bank borrowings 575 -127 +252 Other 6 — — - 20 Float 1,039 -289 -239 Total Reserve Bank credit 25,390 -710 -564 Gold stock 22,781 4-831 Treasury currency outstanding 5,147 + l + 81 53,318 -709 ^7 Money in circulation 31,207 -346 + 99 Treasury cash holdings 771 + 3 - 15 Treasury deposits with F. R. Banks 503 - 26 +210 Foreign deposits with F. R. Banks 306 - 31 - 14 Other deposits with F. R. Banks 190 + 4 - 77 Other F. R. accounts (net) 994 - 2 + 97 33,970 -399 +299 Member bank reserves-- 19,348 -310 + 48 Required reserves (estimated) 18,725 -190 Excess reserves (estimated) 623 -120 + 88 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 22,782 Treasury cash holdings 782 Treasury currency outstanding 5,148 Member bank) - Required (est.) 18,673 Money in circulation 31,019 reserves ) - Excess (est.) 600 On January 15, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,78° million, an increase of $36 million for the week and a decrease of $11 million from the comparable date a year Digitized for FRASER ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 15, Jan. 8, Jan. 16, 1958 1958 1957 A SS E T S Gold certificate account 21,230,393 2 + 841,001 Redemption fund for F. R. notes 862,409 6,841 17,542 Total gold certificate reserves 22,092,602 + "§237^59 F. R. notes of "other Banks 627,360 + 63,011 + 88,329 Other cash 457,344 + 50,742 + 26,593 Discounts and advances 284,848 421,811 + 21,118 Industrial loans 541 51 278 Acceptances: Bought outright 41,822 1 + 9,047 Held under repurchase agreement 2,617 10,513 + 2,617 U. So Government securities; Bought outright— Bills 821,473 78,200 - 431,872 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,556,835 78,200 - 584,872 Held under repurchase agreement 151,500 41,400 + 151,500 Total U. S„ Government securities 23,708,335 36,800 - 433,372 Total loans and securities 24,038,163 - 469,072 - 400,868 Due from foreign banks 15 7 Uncollected cash items 5,675,068 + 909,944 - 155,596 Bank premises 84,097 + 164 + 10,328 Other assets 238,799 +_ 16,537 - 22,709 TOTAL ASSETS 53,233,6^8 + 564,487 + 369,529 L I A B I L I T I ES Federal Reserve notes: ~ 27,048,313 - 237,243 + 87,064 Deposits: Member bank reserves 19,272,841 81,760 - 17,028 U. S. Treasurer—general account 525,040 51,263 + 239,178 Foreign 279,102 63,230 - 46,994 Other 186,977 15,666 - 104,443 Total deposits 20,263,960 78,061 + 70,713 Deferred availability cash items 4,586,145 + 865,246 + 128,059 Other liabilities and accrued dividends 13,987 + 658 - 3,345 TOTAL LIABILITIES 51,912,405 + 550,600 + 282,491 C A P I T AL A C C O U N TS Capital paid in 346,467 358 + 19,685 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 138,035 +_ 13,529 5,748 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,233!648 + 564,487 169.529 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.7% + 1.6# Contingent liability on acceptances purchased for foreign correspondents 103,878 15,018 + 47,742 Industrial loan commitments 1,080 21 1,271, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 15, 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 "276,710 111 21,483 519,000 16 days to 90 days 8,138 29 22,956 5,960,966 91 days to 1 year 278 14,439,112 Over 1 year to 5 years 123 1,374,400 Over 5 years to 10 years 56,610 Over 10 years ,1=358^247 Digitized for FRASER http://fraser.stlou T is o fe t d a .o l rg / 284,848 5%1 44,439 23,708,335 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF C0KDIT1C ON OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1958 c Phila- ulT St. Minne- Kansas San Total Boston New York delphia I®1-*""® A1t1l anta Chicago Louis apolis City Dallas Francisco A S S E TS Gold certificate account 21,230,393 980,923 5,563,526 1135,617 1907,192 1317,677 846,367 3901,758 896,702 404,663 898,028 811,763 2566,177 Redemption fund for F. R notes 862,409 55,695 180,910 60,294 78,976 71,499 48,654 156,477 43.182 22,126 41,455 28,398 74,743 e Total gold certificate reserves 22,092,802 1036,618 5,744,436 1195,911 1986,168 1389,176 895,021 4058,235 939,884 426,789 939,483 840,161 2640,920 F.R, notes of other Banks 627,360 43,477 137,512 54,967 51,375 60,162 78,437 57,097 20,687 24,560 10,305 37,033 51,748 Other cash 457,344 29,296 97,577 23,731 35,487 31,723 33,512 70,824 28,586 9,673 15,881 18,237 62,817 "Discounts and advances 284,848 20,635 37,010 11,505 26,920 11,600 39,125 82,395 5,835 6,770 20,983 14,260 7,810 Industrial loans 541 327 191 23 Acceptances: Bought outright 41,822 41,822 ~ Held under rep, agree, 2,617 2,617 tl. S. Govt, securities; Bought outright— 1 Bills 821,473 44,808 205,435 47,951 72,156 52,487 42,549 143,389 33,972 17,728 35,269 32,193 93,536 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,^32 824,355 430,167 855,809 781,178 2269,720 Notes Bonds 2,801,750 152,824 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109.798 319,019 Total 23,556,835 1284,931 5,891,117 1375,083 2069,185 1505,117 1220,173 4111,869 974,193 508,357 1011,366 923,169 2682,275 Held under rep. agree. 151,500 151.500 Total U»„ S. Govt, sees. 23,708,335 1284.931 6.042.617 1375.083 2069.185 1505.117 1220.173 4111.869 974.193 508.357 1011,366 923.169 2682.275 Total loans & securities 24,038,163 1305,893 6,124,066 1386,779 2096,105 1516,717 1259,298 4194,264 980,028 515,150 1032,349 937,429 2690,085 Due from foreign "banks 15 1 1/4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,675,068 412,589 1,0367158 336,818 532,915 487,994 486,610 938,300 232,054 150,676 265,692 266,334 528,728 Bank premises 84,097 5,010 10,668 4,514 9,670 6,996 6,64l 6,823 6,138 5,307 4,926 6,323 11,081 Other assets 258,799 13,849 63,959 14,670 22,596 16,392 13,494 46,672 10,465 5,560 11,023 10,977 29,142 TOTAL ASSETS 53,233,648 2846,733 13,214,380 3017,391 4734,317 3509,161 2773,014 9372,217 2217,843 1137,915 2279,660 2116,495 6014,522 l/ After deducting $11,000 par bicryationa of other Federa lReserve Banks. 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 15, 1958 Phila Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,048,313 1606,373 6,363,118 1704,484 2582,854 2152,093 1272,607 5259,378 1210,956 496,232 1062,713 735,042 2600,263 Deposits: Member bank reserves 19,272,841 763,806 5,436,342 890,656 1541,212 614,564 971,059 3081,355 722,839 441,896 900,694 1024,987 2663,431 U S.Treas.-gen acct. 525,040 27,572 49,047 20,655 57,573 56,635 42,224 51,067 36,620 29,092 39,338 41,318 73,879 Foreign 279,102 15,276 1/86,678 18,492 23,852 13,668 12,CoC 38,324 9,916 6,432 10,452 13,936 30,016 Other 186,977 407 119,907 10,004 1,209 4,221 l,46l 1,124 891 _ 348 C96 1,857 44,652 Total deposits 20,263,960 827,061 5,691,974 939,807 1623,846 689,088 1026,804 3171,890 770,266 477,768 951,380 1082,098 2811,978 Deferred availability cash items 4,586,1451 333,485 790,956 281,048 408,077 397,634 411,295 749,070 185,238 130,386 212,621 230,444 455,891 Other liabilities and accrued dividends 13,987 688 3,909 668 1,761 578 579 2,468 437 488 459 696 1,256 TOTAL LIABILITIES 51,912,405 2769,607 12,849,957 2926,007 4616,538 3439,393 2711,485 9182,806 2166,897 1104,874 2227,173 2048,280 5869,388 CAPITAL ACCOUNTS Capital paid in 346,467 17,757 102,502 21,268 32,741 15,745 16,688 46,807 11,617 7,457 13,933 19,456 40,496 Surplus (Section 7) 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 Surplus (Section 13b) 27,543' 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 138,035 9,345 30,639 9,704 12,482 9,438 7,887 19,671 7,222 4,8i4 6,884 6,581 13,368 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,233,648 2846,733 13,214,380 3017,391 4734,317 3509,161 2773,014 9372,217 2217,843 1137,915 2279,660 2116,495 6014,522 Conting. liab. on acceptances purchased for foreign correspondents 103,878 5,899 2/29,565 7,142 9,211 5,279 4,658 14,800 3,830 2,484 4,036 5,382 11,592 -vr.™ FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,392,489 1696,935 6,735,419 1786,883 2683,697 2236,663 1356,355 5435,552 1265,576 535,063 1096,221 787,027 2777,098 CCoollllaatt.. ffoorr FF RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,253,000 700,000 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 140,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 37,598 —— —— 11,160 —— — — — — — — 5,650 — — 20,786 — *~ —— UU SS GGoovvtt,, sseeccuurriittiieess 17,165,000 1150,000 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 895,000 425,000 820,000 525.000 1500.000 TToottaall ccoollllaatteerraall 29,455,598 1850,000 6,870,000 1851,160 2730,000 2265,000 1425,000 5600,000 1350,650 565,000 1140,788 808,000 1000,000 — . o <pX-jyc-j VWU uxux pa UiUUo U* V UtlCJL J ;c LJ"LGL GAxcSc iVc DSLIIxx b• 2/ After deducting $7^,313,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis