H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM February 13, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member bank reserves for the week ending February 12 increased $57 million to $19#054 million .Estimated required reserves decreased $9 million; and estimated excess reserves increased $66 million to $476 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $190 million, compared with $221 million the week before, . . . principal changes supplying average reserves were increases of $97 jP-llion member bank borrowings and $58 million in Federal Reserve holdings of • • * Government securities, and decreases of $82 million in Treasury deposits with F®<*eral Reserve Banks an<* $43 million in Treasury cash holdings. The principal ofsetting changes were increases of $96 million in money in circulation, $72 million m ' other" F, R, accounts (net), and $31 million in "other11 deposit swith Federal Reserve Banks, Total Reserve Bank credit increased $146 million, , . , .4 Wednesday, February 12, holdings of U. S. Government securities bought outright were $8 million lower than a week earlier, U. S. Government £2 were I t™ ^ ^ M b er Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Feb. 12, 1958 Feb. 5. 19581 Feb. 11, 1QV7 (In millions of dollars} Reserve Bank credit: U, S. Government securities- Bought outright—System account 23,292 - 29 + 102 Held under repurchase agreement 130 + 87 + 56 Acceptances—bought outright 41 — + 11 Loans, discounts, and advances- Member bank borrowings 286 + 97 — 430 Other 1 —— - 25 Float 791 - 10 - 169 Total Reserve Bank credit 24,543 + 146 — 454 Gold stock 22,784 + 1 + 532 Treasury currency outstanding . .5 ,,1.59 + 4 + 89 52,486 + 150 + 167 Money in circulation 30,675 + 96 + 34 Treasury cash holdings 734 - 43 - 86 Treasury deposits with F, R. Banks 296 - 82 — 81 Foreign deposits with F* R, Banks 284 + 19 82 •* Other deposits with F. R, Banks 325 + 31 + 26 Other F. R, account s(net) ... 1,118 + 72 + 111 33,432 + 93 — 79 Member bank reserves- 19,054 + 57 + 246 Required reserves (estimated) 18,578 - 9 + "313 Excess reserves (estimated) 476 + 66 — 67 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 22,784 Treasury cash holdings 686 Treasury currency outstanding 5,160 Member bank) - Required (est.) 18,546 Money in circulation 30,674 reserves ) - Excess (est.) 342 On February 12, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,654 million, an increase of $8 million for the week and a decrease of $91 millio nfrom the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 12, Feb, 5, Feb. 13, 1958 1958' 1957 A S S E TS Gold certificate account 21,345,392 + 99,999 + 664411,,000011 Redemption fund for F« R. notes 855.593 — 1.600 - 7.925 Total gold certificate reserves 22,200,£85 + 98,399 + 633,076 F. R. notes of other Banks 560,503 - 66,756 + 78,674 Other cash 531,631 - 3,776 + 73,112 Discounts and advances 237,397 + 84,336 — 282,108 Industrial loans 523 + 11 - 280 Acceptances—bought outright 39,839 + 1 + 11,007 U. S. Government securities: Bought outright- Bills 563,773 - 7,500 + 227799,,779988 Certificates 19,933,612 —— +9,, 014,913 Notes — —— -9,129,663 Bonds 2.801.750 —— Total bought outright V 23,299,135 - 7,500 + 165,048 Held under repurchase agreement 164.700 + 60.400 + 90.700 Total U. S. Government securities 23.463 835 + 52.900 ,+ ,255.748 T m. Total loans and securities 23,741,594 + 137,248 15,633 Due from foreign banks 15 — — 7 Uncollected cash items 4,760,371 + 336,304 - 263,192 Bank premises 84,372 + 77 + 9,795 Other assets 189.367 + 16.713 - 20.381 TOTAL ASSETS 52,068,838 + 518,209 + 495,444 L I A B I L I T I ES Federal Reserve notes 26,708*350 + 22,857 + 63,233 Deposits: Member bank reserves 1188,,888888,,11**2255 - 116699,,992233 + 338833,,885544 U» S. Treasurer—general account 349*868 + 143,212 + 69,019 Foreign 296,756 + 13,003 — 6,749 Other 596.979 + 275.855 jL 355.446 Total deposits 20.13.2.,025 ,.^62.147 A- m , w. Deferred availability cash items 3,837,131 + 218,117 - 469,607 Other liabilities and accrued dividends 16.154 + 1.586 + . 795 TOTAL LIABILITIES 50,693,663 + 504,707 + 395*991 C A P I T AL A C C O U N TS Capital paid in 348,301 + 521 + 19,512 Surplus (Section 7) 809,198 — + 61,605 Surplus (Section 13b) 27,543 — — Other capital accounts '190.133 + 12.-981 + 18.336 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52.068.838 + 518.209 + 495.444 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.4% — .1^ + ii%% Contingent liability on acceptances purchased for foreign correspondents 131,312 + 22,,991133 + 6688,,998888 Industrial loan commitments 1.069 — 10 - T MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 12. 1948 (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 234,850 120 13,063 5,856,663 16 days to 90 days 2,426 20 26,776 378,803 91 days to 1 year 121 260 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 Total 237,397 523 39,839 :23U63,835 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 12. 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) A S S E TS Gold certificate account 21,345,392 1064,708 §,732,676 1154,189 1847,351 1307,136 876,935 3849,443 880,473 398,842 899,313 797,309 253o,317 Redemption fund for F, R. notes 855,593 55,344 179,426 59.713 78 >02 69.549 48.352 155.816 42.998 22.058 41.308 28,273 74,754 Total gold certificate reserves 22,200,985 1120,052 5,912,302 22 13,902 1925,753 1376,685 925,287 4005,259 923,471 420,900 940,621 826,082 2610,671 E,R. notes of other Banks 560,503 35,376 138,524 35,649 53,106 54,912 74,369 43,934 15,652 22,717 7,736 39,252 39,476 Other cash 531,631 30,348 125,568 30,216 43,579 33,930 40,882 83,790 31,725 10,027 16,656 19,207 65,703 Discounts and advances 237,397 15,130 6,250 12,165 52,075 15,925 9,815 84,744 7,380 6,350 22,613 3,900 1,050 Industrial loans 523 327 173 23 Acceptances- Bought outright 39,839 — 39,839 — —— —— — — —— U, S. Govt, securities: Bought outright— Bills 563,773 30,752 140,989 32,908 49,520 36,(222 29,201 98,407 23,315 12,166 24,205 22,094 64,194 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 2.801.750 152.824 700.664 163.547 246.100 179.01? 1/,5.199 /.89.0/.8 115.866 1?0„?88 109,. 798 319,019 Total 23,299,135 1270,875 5,826,671 1360,040 2046,549 1488,652 1206,825 4066,887 963,536 502,795 100C,3O2 913,07® 2652,933 Held under repurchase agreement 164.700 — 1.64.700 Total U. S, Govt, sees. 23.ii63.835 1270.875 5.991.371 1160.010 2046.549 T/,88.659 1906.895 IM 887 963.536 50?.795 1000 3f? 913.070 ?65?.933 Total loans & securities 23,741,594 1286,332 6,037,460 1372,378 2098,624 1504,577 1216,640 4151,631 970,916 509,168 1022,915 916,973 2653,$83 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,760,371 400,840 771,615 302,016 343,455 455,767 463,087 677,494 221,008 145,125 255,658 238,935 485,371 Bank premises 84,372 4,975 10,651 4,491 9,655 6,954 6,771 6,808 6,265 5,304 4,909 6,501 11,088 Other assets 189.367 10.090 46.686 1 0.650 16.877 11.97A 9.813 34.519 7.583 4*223 2*2S6 21,087 TOTAL ASSETS 52,068,838 2388,01433,042,810 2969,303 4491,050 3444,800 2736,850 9003,237 2176,621 1117,269 2256,482 2055,022 5887,380 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 FEBRUARY 12, 1958 Total Boston | New York Rlchmond Atlanta G^cago ^s !£££ Frisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,708,350 1578,703 6,299,771 1675,508 2541,477 2112,361 1254,409 5212,730 1194,793 503,087 1052,464 720,357 2562,690 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,888,425 804,904 5,372,400 882,429 1482,136 825,376 938,632 2984,108 695,707 423,499 874,517 993,915 2610,802 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 349,868 25,417 49,557 19,182 31,844 26,437 17,941 35,820 20,843 16,413 24,6ll 26,013 55,790 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 296,756 16,473 1/89,254 19,941 25,721 14,739 13,005 41,327 10,693 6,936 11,271 15,028 32,368 OOOOOttttthhhhheeeeerrrrr 596,979 64,041 "218,616 10,005 1,748 54,474 56,905 702 40,207 23,370 31,633 26,392 68,886 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,132,028 910,835 5,729,827 "931,557 1541,449 921,026 1026,403 3061,957 767,450 470,218 942,032 1061,340 2767,846 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,837,131 317,885 631,408 266,927 283,321 337,574 391,023 526,479 160,651 108,941 206,518 202,264 404,140 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 16,154 738 3,752 815 2,280 830 645 2,531 579 932 604 792 1,656 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,693,663 2808,161 12,664,758 2874,807 4^68,527 3371,191 2672,560 8803,697 2123,473 1083,17% 2201,618 1904,761 5736,332 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 348,301 17,797 102,614 21,352 32,860 15,838 16,824 47,487 11,732 7,520 14,089 19,619 40,569 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 190,133 12,032 44,156 12,732 17,107 12,586 10,512 29,120 9,309 5,801 9,105 8,464 19,209 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,068,838 2888,014 13,042,810 2969,303 4491,050 3444,800 2736,850 9003,237 2176,621 1117,269 2256,482 2055,022 5887,380 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... H 1 * # 7,484 2/37,038 9,060 11,686 6,696 5,908 18,776 4,858 3,151 5,121 6,828 14,706 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,936,244 1672,052 6,660,578 1762,365 2648,056 2194,860 1321,226 5350,102 1239,988 532,336 1076,553 771,401 2706,727 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee gg..cccctt.. 12,253,000 700,000 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 i4o,ooo 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 42,158 •?— —— 12,165 —« —— •** v— 7,380 —— 22,613 •* 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 29,460,158 1850,000 6,870,000 1852,165 2730,000 2265,000 1425,000 5600,000 1352,380 565,000 1142,613 800,000 3000,000 1/ After deducting $207,502,000 participations of other Federal Reserve Banks, 2/ After deducting $94,274,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis