H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS ForiImmediate Release Hi 4,1 OF THE FEDERAL RESERVE SYSTEM February 20, I958 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 February 19 increased $68 million to $19,122 million. Estimated required reserves decreased $37 million; and estimated excess reserves increased $105 million to $625 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $264 million, compared with $234 million the week before. The principal changes supplying average reserves were increases of $261 million in Federal Reserve float and $75 million in member bank borrowings, and decreases of $49 million in Treasury cash holdings and $33 million in money in circulation. The principal offsetting changes were increases of $205 million in Treasury deposits with Federal Reserve Banks, $77 million in "other" F. R, accounts (net), and $53 million in foreign deposits with Federal Reserve Banks, and a decrease of $49 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $287 million. As of Wednesday, February 19, holdings of U, S. Government securities bought outright were $57 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $165 million lower, and member bank borrowings were $102 million lower. Holdings of certificates increased $12 million and bonds decreased a like amount, reflecting the exchange of bonds maturing March 15 for the new issue of certificates. Meriber bank reserves, Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items FFeebb,, 1199,, 11995588 Feb, 12, 1958 Feb, 20, 1957 (In millions of doll Lars) Reserve Bank credit; U. S. Government securities- Bought outright--System account 23,285 - 7 +327 Held under repurchase agreement 88 - 42 + 77 Acceptance s—bought outright 41 w - + 12 Loans, discounts, and advances— Member bank borrowings 361 + 75 -191 Other * - 1 - 26 Float 1,054 +261 -134 Total Reserve Bank credit 24,830 +207 + 66 Gold stock 22,785 + 1 +482 Treasury currency outstanding 5,161 + 2 + 90 52,776 +290' +535 Money in circulation 30,642 - 33 + 37 Treasury cash holdings 685 - 49 -130 Treasury deposits with F, R. Banks 501 +205 +328 Foreign deposits with F, R. Banks 337 + 53 + 30 Other deposits with F. R. Banks 293 - 32 + 67 Other F« R. accounts (net) 1,195 + 77 + 79 33^5% +222 +E2 Member bank reserves- 19,122 + 68 +227 Required reserves (estimated) 10,497 : 37 +188 Excess reserves (estimated) 625 +105 + 39 * LeL ess than $500,000. 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 22,785 Treasury cash holdings 702 Treasury currency outstanding 5,163 Member bank) - Required (est.) 18.608 Money in circulation 30,571 reserves ) - Excess (est.) 574 On February 19, 1958, U» S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,732 million, an increase of $78 million for the week and a decrease of $32 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 19, Feb. 12, Fefcu 20, 1958 1957 A S S E TS Gold certificate account 21,345,393 f 1 + 581,002 854,018 - 1,575 7,882 Redemption fund for F. R« notes Total gold certificate reserves 22,199,411 : 1 7 5 75 + 573,120 F. R. notes of other Banks 549,722 - 10,781 + 80,311 511,941 - 19,690 + 41,255 Other cash - 102,280 708,449 Discounts and advances 135,117 485 38 305 Industrial loans 41,514 + 1,675 14,276 Acceptances—bought outright U. S. Government securities: Bought outright- 621,023 + 57,250 + 479,748 Bills 19,946,105 + 12,493 +8,579,906 Certificates -8,574,913 Notes 2,789,257 - 12,493 - 12,493 Bonds Total bought outright 23,356,305 + 57,250 + 472,240 - 164,700 Held under repurchase agreement 23.356,305 - 107,450 + 472,240 Total U. S. Government securities Total loans and securities 23,533,501 - £08,093 - 222,230 15 7 Due from foreign banks 5,041,846 + 281,475 - 322,083 Uncollected cash items 84,741 + 369 + 9,856 Bank premises 110,666 -78,701 + 17.807 Other assets 52.031,055 36.995 + 178,029 TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes 26,586,310 - 122,040 + 8,996 Deposits: Member bank reserves 19,182,442 + 294,017 + 147,954 U. S. Treasurer--general account 452,776 + 102,908 + 302,261 Foreign 290,546 6,210 4,525 Other 282,202 - 314,777 + 84,820 Total deposits 20,207,966 + 757938 + 530,510 Deferred availability cash items 3,834,155 2,976 463,661 Other liabilities and accrued dividends 15,379 775 TOTAL LIABILITIES 50,643,010 - 4 9 , 8 53 H di c a p i t al a c c o u n ts Capital paid in 348,591 290 + 19,311 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 202.701 12,568 20,365 TOTAL LIABILITIES? AND CAPITAL ACCOUNTS 52.031,043 36,995 178,029 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.4# + •6$ Contingent liability on acceptances purchased 132,914 + 1,602 + 69,647 for foreign correspondents 1,102 + 33 1,202 Industrial loan commitments MATURITY DISTRIBUTION OF LOANS AND SECURITIES .FEBRUARY 19, 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 129,441 119 " 241,023 380,000 16 days to $0 days 5,562 29 28,798 91 days to 1 year 114 224 19,946,105 Over 1 year to 5 years 113 1,374,400 56,610 Over 5 years to 10 years 1.358,247 Over 10 years Total 135,117 W %l75l% 23,356,305 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S.4.lfbl STATEMENT OF COMDITIOM OF EACH FEDERAL RESERVE BAHK ON FEBRUARY 19, 1958 Phila- Cleve St. Minne- Kansas San Total Boston New York delphia land . . Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars} A S S E TS Gold certificate account 21,345,393 1041,653 5,704,395 1121,299 1851,959 1223,607 836,472 3975,273 845,435 414,667 875,443 770,438 2684,752 Redemption fund for F. R, notes 854,018 55,262 179,057 59,578 78,261 69,123 48,289 155,662 42,958 22,042 41,272 28,246 74,268 Total gold certificate reserves 22,199,411 1096,915 5,883,452 1180,877 1930,220 1292,730 884,761 4130,935 888,393 436,709 916,715 798,684 2759,020 F.R. notes of other Banks 549,722 32,629 144,925 31,974 52,865 45,692 69,387 49,160 14,978 21,473 6,645 37,028 42,966 Other cash 511,941 29,822 118,708 28,599 44,479 32,034 36,926 79,512 32,108 9,439 17,058 19,206 64,050 Discounts and advances 135,117 8,050 4,600 6,720 17,235 28,325 11,800 23,6o4 8,200 3,850 13,283 1,350 8,100 21 ^Industrial loans 485 327 137 Acceptances— Bought outright 41,514 41,514 " -- -- — - U* S. Govt, securities: Sought outright— -Bills 621,023 33,874 155,306 36,251 54,549 39,679 32,168 108,399 25,682 13,402 26,663 24,337 70,713 Certificates 19,946,105 1087,980 4,988,142 1164,314 1752,026 1274,417 1033,148 3481,613 824,871 430,437 856,346 781,668 2271,143 Hafces- 3Bonds 2,789,257 152,143 697,540 162,817 245,003 178,214 144,475 486,868 115,350 60,192 119,751 109,308 317,596 #otal 23,356,385 1273,997 5,840,988 1363,382 2051,578 1492,310 1209,791 4076,000 965,903 504,031 1002,760 915,313 2659,452 Held under repurchase . agreement Total U. S. Govt, sees. 23,356,385 1273,997 5.840,988 1363,382 2051,578 1492,310 1209,791 4076,880 965,903 504,031 1002,760 915*313 2659,452 Total loans & securities 23,533,501 1282,374 5,887,102 1370,239 2068,813 1520,635 1221,591 4100,484 974,103 507,902 1016,043 916,663 2667,552 Due: from foreign tanks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,041,846 386,092 909,029 318,458 449,583 399,363 433,059 802,526 209,723 128,925 263,400 262,975 478,713 Bank premises 84,741 4,975 10,651 4,491 9,655 6,985 6,946 6,864 6,362 5,304 4,909 6,509 11,090 Other -assets 110,666 5,932 26,424 6,106 9,694 6,982 5,961 20,695 4,323„ 2,352 4,652 5,213 12,332 2838,740 12,980,295 2940,745 4565,310 3304,422 2658,632 9190,178 2129,991 1112,104 2229,423 2046,279 6035,724 TOTAL ASSETS 52,031,843 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 A.

H.4.1(c) STATEMENT OF C0NDIT]C ON OF EACH FEDERA3L RESERVE BANK ON FEBRUARY 19, 1958 Phila- Cleve- ' St. Minne- Kansas San Total Boston J New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 26,586,310 1573,245 6,264,113 1671,382 2533,254 3106,066 1248,988 5187,591 1189,428 503,851 1046,748 717,508 2544,136 Deposits: Member bank reserves 19,182,442 860,261 5,358,938 911,626 1495,557 789,222 951,637 3046,921 685,299 437,432 876,649 975,283 2793,617 U.S.Treas.-gen.acct. 452,776 31,893 78,492 21,434 23,605 34,524 24,087 65,130 29,243 17,372 28,668 39,813 58,515 Foreign 290,546 16,587 1/81,608 20,079 25,899 l4,84l 13,095 4l,6l3 10,767 6,984 11,349 15,132 32,592 Other 282,202 425 "223,308 11,830 1,376 2,354 1,619 936 2,860 312 l,5?8 1,315 34,269 Total deposits 20,207,966 909,166 5,742,346 964,969 1546,437 840^41 990,430 3154,600 720,169 462,100 918,264 1031,543 2918,993 Deferred availability cash items 3,834,155 275,060 588,766 208,493 360,089 282,779 353,478 643,736 158,263 111,171 208,453 225,596 418,271 Other liabilities and 775 3,723 684 1,928 845 733 2,427 511 611 542 912 1,688 accrued dividends 15,379 2758,246 12,598^948 2845,528 4441,708 3230,631 2593,637 0900,354 2076,371 1077,733 2174,007 1975,559 5883,088 TOTAL LIABILITIES 50,643,810 ^BEITAL ACCOUNTS Capital paid in 348,591 17,807 102,630 21,352 32,867 15,868 16,920 47,536 11,744 7,534 14,132 19,629 40,572 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 l,oc6 3,349 762 1,429 521 1,073 1,137 1,307 2,140 -Other -capital accounts 202,701 12,663 47,435 13,453 18,179 13,338 11,121 31.355 9,769 6,067 9,614 8,913 20,794 TOTAL LIABILITIES AND 2838,740 12,980,295 2940.745 4565,310 3304,422 2658,632 9190,178 2129,991 1112,104 2229,423 2046,279 6035,724, CAPITAL ACCOUNTS 52,031,843 Conting. liab. on acceptances purchased for foreign correspondents 132,914 7,541 2/37,923 9,129 11,775 6,747 5,953 18,919 4,895 3,175 5,160 6,879 14,818 Industrial loan commit. 1,102 47 52 63 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,890,647 1675,182 6,648,801 1760,965 2638,383 2192,816 1310,278 5339,833 1244,296 532,759 1073,788 770,188 2703,358 Collat. for F. R. notes: 700.000 3,270,000 640,000 1130,000 915,000 425,000 2500,000 450,000 i4o,ooo 300,000 283,coo 1500,000 Gold certificate acct. 12,253,000 6,720 — — — — 8,200 -- 13,283 Eligible paper 28,203 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 U. S. Govt, securities 17,165,000 1850.000 6.870.000 1846.720 2710.000 2265.000 l425,ooo 5600,000 1353,200 565,000 1133,283 808,000 3000,000 Total collateral 29.446.203 1/ After deducting $208,938,000 participations of other Federal Reserve Banks. 2/ After deducting $94,991,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis