H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF TEE FEDERAL RESERVE SYSTEM January 30, 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 January 29 decreased $127 million to $19,089 million. Estimated required reserves decreased $113 million; and estimated excess reserves decreased $14 million to $511 million, Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $216 million, compared with $170 million the week before. The principal changes reducing average reserves were decreases of $311 million in Federal Reserve float and $60 million in member bank borrowings, and an increase of $48 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $253 million in money in circulation and an increase of $57 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $317 million. As of Wednesday, January 29, holdings of U. S. Government securities bought outright were $100 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $73 million lower, and member bank borrowings were $134 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 29. 1958 Jan. 22, 19581 Jan. 30, 1957 (In millions of dollars) Reserve Bank credit; U. S. Government securities— Bought outright—System account 23,335 + 69 -115 Held under repurchase agreement 37 - 12 + 37 Acceptances-- Bought outright 41 — - + 11 Held under repurchase agreement 4 + 1 + 4 Loans, discounts, and advances-- Member bank borrowings 295 - 60 -207 Other 1 - 4 - 25 Float 919 -311 -159 Total Reserve Bank credit 24,632 -317 ^55 Gold stock 22,783 + 1 +703 Treasury currency outstanding 5,151 + 2 + 83 52,565 -315 +331 Money in circulation 30,625 -253 + 18 Treasury cash holdings 789 + 8 - 20 Treasury deposits with F. R. Banks 521 + 10 +101 Foreign deposits with F. R. Banks 275 - 54 Other deposits with F. R. Banks 275 + 48 + 17 Other F. R. accounts (net) 992 mm ** + 99 33,476 -168 +160 Member bank reserves-- 19,089 -127 +171 Required reserves (estimated) 18,578 -113 + 28 Excess reserves (estimated) 511 - 14 +143 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 22,783 Treasury cash holdings 785 Treasury currency outstanding 5,151 Member bank) - Required (est.) 18,547 Money in circulation 30,543 reserves ) - Excess (est.) 430 On January 29, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,767 million, a decrease of $31 million for the week and an increase of $26 million from the comparable date a Digitizeyd efoar rFR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S,4.1(a) STATEMENT OF CONDTION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 29, Jan. 22, JBUt 30# 1958 1958 3-957 A S S E TS Gold certificate account 21,245,392 + . 15,000 + 555,999 Redemption fund for F» R. notes 858,711 1,780 - 13,435 Total gold certificate reserves 22,104,103 + 13,220 + 542,564 F. R. notes of other Banks 676,726 + 2,228 + 122,510 Other cash 527,860 + 23,653 + 42,711 Discounts and advances 252,921 - 138,913 - 424,933 Industrial loans 541 - 7 - 284 Acceptances: Bought outright 39,838 + 1,005 + 9,990 Held under repurchase agreement 3,000 - 10,218 + 3,000 U. S. Government securities: Bought outright— Bills 621,773 99,700 + 82,238 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,357,135 99,700 : 70,762 Held under repurchase agreement 3,000 73,000 * 3.000 Total U. S. Government securities 23,360,135 26,700 - 67,762 Total loans and securities 23,656,435 - 121,433 - 479,989 Due from foreign "banks 15 7 Uncollected cash items 4,561,983 - 824,964 - 266,528 Bank premises 84,259 + 43 + 9,954 Other assets 288,075 + 15,555 - 15,540 TOTAL ASSETS 51,899,456 - 891,696 - 44,325 l i a b i l i t i es Federal Reserve notes 26,701,889 - 153,661 + 37,766 Deposits: + 88,110 Member hank reserves 18,977,485 - 358,537 U, S. Treasurer--general account 511,148 + 56,819 - 102,545 Foreign 257,036 - 37,044 - 90,864 Other 267,058 + 63,192 Total deposits 20,012,727 - 275,570 Deferred availability cash items 3,821,062 - 477,620 - 76,329 Other liabilities and accrued dividends 15,235 + 1*499 514 TOTAL LIABILITIES 50,550,913 - 905,352 - 137,999 C A P I T AL a c c o u s ts Capital paid in 347,364 540 + 19,753 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 164,438 + 13,114 12,316 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.899,456 - 891,698 44*325 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.3% .4# 1,2# Contingent liability on acceptances purchased for foreign correspondents 127,242 + 12,773 65,813 Industrial loan commitments 1.065 + 2 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 29, 1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.; U. S. Government Discounts and Industrial advances loans Acceptances securities Within 15 days 249,432 111 15,016 230,550 27,822 5,901,216 16 days to 90 days 3,386 29 91 days to 1 year 103 278 14,439,112 1,374,400 Over 1 year to 5 years 123 56,610 Over 5 years to 10 years 1.358,247 Over 10 years Digitized for FRASER w 23,360,135 Total 252,921 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 29. 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolls City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,245,392 1026,438 5,874,493 1144,020 1859,164 1299,839 835,868 3843,566 872,138 406,150 874,111 771,036 2438,569 Redemption fund for F. R. notes 858,711 55,490 180,107 59,961 78,651 70,487 48,494 156,121 43.081 22.093 41,368 28,330 74.528 Total gold certificate reserves 22,104,103 1081,928 6,054,600 1203,981 1937,815 1370,326 884,362 3999,687 915,219 428,243 915,479 799,366 2513,097 F.R. notes of other Banks 676,726 42,961 158,799 55,709 62,771 61,150 79,992 59,597 21,670 26,893 9,913 42,641 54,630 Other cash 527,860 32,832 114,499 31,182 44,213 33,336 39,435 82,749 33,876 10,376 16,753 19,863 68,746 Discounts and advances 252,921 19,670 29,725 16,645 28,850 29,150 25,165 47,618 12,610 4,000 19,888 10,100 9,500 Industrial loans 541 327 191 23 Acceptances: Bought outright 39,838 39,838 — — Held under rep. agree. 3,000 — 3,000 — — — S. Govt, securities: Bought outright- Bills 621,773 33,915 155,494 36,294 54,615 39,727 32,206 108,531 25,713 13,418 26,695 24,367 70,798 Certificates 19,933,612 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 Notes Bonds 2,801,750 152,824 700,664 1631547 246,100 179,012 145,122 489%048 115,866 60,462 120,288 109,798 319,019 Total 23,357,135 1274,038 5,841,176 1363,426 2051,644 1492,357 1209,830 4077,011 #5,934 504,047 1002,792 915,343 2659,537 Held under rep. agree. 3,000 mrnm 3j000 "" «• wee •» •• «•>«* Total U. S. Govt, sees. 23,360,135 1274,038 5,844,176 1363,426 2051,644 1492,357 1209,830 4077,011 965,934 504,047 1002,792 915,343 2659,537 Total loans & securities 23,656,435 1294,035 5,916,739 1380,262 2080,494 1521,507 1234,995 4124,629 978,544 508,070 1022,680 925,443 2669,037 Due from foreign tanks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,561,983 334,795 828,827 274,195 421,267 370,678 398,219 739,092 181,933 124,205 231,081 230,247 427,444 Bank premises 84,259 4,975 10,674 4,491 9,667 6,954 6,770 6,818 6,269 5,304 4,926 6,323 11,088 Other assets 288,075 15,487 70,946 16,436 25,494 18,369 14,979 51,745 11,697 6,186 12,237 12,110 32,389 TOTAL ASSETS 51,899,456 2807,014 13,155,088 2966,257 4581,722 3382,321 2658,753 9064,319 2149,209 1109,277 2213,070 2035,994 5776,432 1/ After deducting $11,000 participations of other Federal Reserve 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 29, 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 26,701,889 1589,242 6,286,738 1683,966 2545,960 2126,301 1253,833 5201,310 1198,946 493,099 1051,225 723,566 2547,703 Deposits: Member bank reserves 18,977,485 777,952 5,509,481 900,854 1493,496 816,580 919,081 2969,384 711,973 444,928 864,681 986,770 2582,305 U.S.Treas.-gen.acct. 511,148 36,536 56,312 34,181 32,093 35,344 55,692 60,784 26,738 24,275 46,630 37,839 64,724 Foreign 257,036 14,649 1/72,510 17,733 22,873 13,107 11,565 36,751 9,509 6,168 10,023 13,364 28,784 Other 267.058 348 214.959 9.214 1.328 3.246 1.198 809 1.711 1.163 1.226 31.399 Total deposits 20,012,727 829,485 5,853,262 961,982 1549,790 868,277 987,536 3067,728 749,931 475,828 922,497 1039,199 2707,212 Deferred availability cash items 3,821,062 309,119 640,346 226,668 363,745 315,518 353,866 598,428 147,657 106,162 185,033 203,112 371,408 Other liabilities and accrued dividends 15,235 667733 33..443344 666600 2.039 2.039 775522 556655 22,,444400 667755 616 591 002 862 1 1 , . 9 9 2 2 0 8 TOTAL LIABILITIES 50,550,913 2728,519 12,783,780 2873,276 4461,534 3310,848 2595,800 8869,906 2097,209 1075,705 2159,346 1966,739 5628,251 CAPITAL ACCOUNTS Capital paid in 347,364 17,782 102,553 21,319 32,807 15,805 16,789 47,041 11,701 7,488 14,038 19,514 40,527 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 164.438 10.689 37.473 11.250 14.825 11.083 9,210 24.439 8.192 5.314 8.016 7.563 16.384 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.899.456 2807.014 13.155.088 2966.257 4581.722 3382.321 2658,753 9064.319 2149,209 1109.277 2213,070 2035,994 5776,432 Conting. liab. on acceptances purchased for foreign correspondents 127,242 7,251 2/35,912 8,777 11,321 6,487 5,724 18,190 4,706 3,053 961 6,614 14,246 Industrial loan commit. 1.065 O 52 O"? -- V4U — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,137,602 1686,540 6,695,934 1772,070 2659,185 2211,069 1337,653 5390,060 1251,470 530,758 1083,543 779,037 2749,403 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 49,143 — — — — 16,645 —— *- —— —— 12,610 —— 19,888 —— """ 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 29.467.143 1850,000 6,870,000 1856.645 2730,000 2265.000 1425.000 5600,000 1357,610 565.000 1139.888 808,000 3000,000 l/ After deducting $184, 526,000 participations of other Federal Reserve Banks, 2/ After deducting $91, 330,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis