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 27, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, Aim 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 26 decreased $213 million to $18,909 million. Estimated required reserves increased $4 million; and estimated excess reserves decreased $217 million to $408 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $255 million, compared with $264 million the week before. The principal changes reducing average reserves were decreases of $208 million in member bank borrowings, $102 million in Federal Reserve float, and $71 million in gold stock. The principal offsetting changes were decreases of $99 million in money in circulation and $53 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $303 million. As of Wednesday, February 26, holdings of U, S. Government securities bought outright were $53 million higher than a week earlier and member bank borrowings were $49 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Feb. 26, 1958 , Feb. 19, 1958 I Feb. 27, 1957 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,380 + 95 +526 Held under repurchase agreement — — - 88 — - Acceptances--bought outright 42 + 1 + 14 Loans, discounts, and advances— Member bank borrowings 153 -208 -535 Other * •a — - 26 Float 952 -102 -265 Total Reserve Bank credit 24,527 -303 -286 Gold stock 922,714 - 71 +4ll Treasury currency outstanding 2 5,165 + 4 + 92 P52,406 -370 +217 Money in circulation 930,543 - 99 - 1 Treasury cash holdings P 694 + 9 -121 Treasury deposits with F. R. Banks 508 + 7 +211 Foreign deposits with F. R. Banks 284 - 53 - 50 Other deposits with F. R. Banks 276 - 17 -106 Other F. R. accounts (net) 1,193 - 2 + 59 233,497 -157 r~5 Member bank reserves-- 18,909 -213 +226 Required reserves (estimated) 18,501 + 4 +283 Excess reserves (estimated) 408 -217 - 57 p - preliminary *Less 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 £22,685 Treasury cash holdings P 697 Treasury currency outstanding P 5,166 Member bank) - Required (est.) 18,522 Money in circulation ^30,499 reserves ) - Excess (est.) 358 On February 26, 1958, U. S, Government securities held in custody by the Federal Reserve Banks for foreign account were $3,619 million, a decrease of $113 million for the week and a decrease of $99 million from the comparable date a Digitizedy feora FrR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT* OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 26, Feb. 19, Feb. 27, 1958 1958 1957 A SS E TS Gold certificate account 21,245,393 100,000 + 481,001 Redemption fund for F. R» notes 853,803 - 215 8,097 Total gold certificate reserves 22,099,196 - 100,215 + 472,904 F. R< notes of other Banks 545,402 - 4,320 + 78,512 Other cash 521,607 + 9,666 + 51,820 Discounts and advances 183,737 + 48,620 - 267,579 Industrial loans 512 + 27 290 Acceptances—bought outright 41,703 + 189 + 16,322 U. S. Government securities: Bought outright— Bills 674,023 + 53,000 + 555,768 Certificates 19,946,105 — +8,583,906 Notes -8,571,413 Bonds 2,789,257 -- - 12,493 Total bought outright 53,000 Held under repurchase agreement Total U. S* Government securities 23,409,385 + 53,000 + 555,768 Total loans and securities 23,635,337 + 101,836 + 304,221 Due from foreign banks 15 7 Uncollected cash items 4,626,630 - 415,216 - 695,467 Bank premises 84,580 161 + 9,746 Other assets 124,468 + 13,802 + 19,094 TOTAL ASSETS 51,637,235 - 394,608 + 240,823 L I A B I L I T I ES Federal Reserve notes ~ 26,510,170 - 76,140 12,3X3 Deposits: Member bank reserves 18,879,769 - 302,673 + 264,355 U. S, Treasurer--general account 406,364 - 46,412 + 106,138 Foreign 273,956 - 16,590 - 26,635 Other 297,801 + 15,599 + 99,487 Total deposits 19,857^90 - 350,076 + 443,345 Deferred availability cash items 3,905,843 + 71,688 - 239,455 Other liabilities and accrued dividends 16,653 + 1,274 + 780 TOTAL LIABILITIES 50,290,556 - 353,254 + 192,357 C A P I T AL A C C O U N TS Capital paid in 348,824 233 + 18,665 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 161,114 - 41,587 31,804 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,637,235 - 394,608 240,823 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.7# + + Contingent liability on acceptances purchased for foreign correspondents 142,742 + 9,828 + 84,578 Industrial loan commitments 1.075 27 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 26, 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 181,113 119 12,284 214,573 16 days to 90 days 2,521 29 29,419 459,450 91 days to 1 year 103 251 19,946,105 Over 1 year to 5 years 113 1,374,400 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Total 183,737 512 41,703 23,409,385 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM OH FEBRUARY 26, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New fork Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,245,393 1006,557 5,893,214 1142,311 1884,855 1313,098 827,844 3899,741 844,274 406,735 871,540 743,591 2411,633 Redemption fund for F. R, notes 853,803 55,250 178,988 59,569 78,250 69,106 48,278 155,629 42,951 22,036 41,260 28,238 74,248 Total gold certificate reserves 22,099,196 1061,807 6,072,202 1201,880 1963,105 1382,204 876,122 4055,370 887,225 428,771 912,800 771,829 2485,881 F.R. notes of other Banks 545,402 30,333 140,986 30,858 53,820 39,760 75,199 48,145 14,543 21,557 7,354 36,980 45,867 Other cash 521,607 29,405 113,423 29,546 42,758 34,982 41,075 86,073 31,272 10,028 15,381 19,554 68,110 Discounts and advances 183,737 12,055 13,015 13,640 24,255 15,875 9,455 45,604 10,685 9,ioo 19,703 6,050 4,300 Industrial loans 512 327 — 164 21 Acceptances-- Bought outright 41,703 41,703 U. S. Govt, securities: Bought outright— Bills 674,023 36,765 168,560 39,345 59,205 43,065 34,913 117,651 27,874 14,546 28,938 26,414 76,747 Certificates 19,946,105 1087,980 4,988,142 1164,3.14 1752,026 1274,417 1033,148 3481,613 824,871 430,437 856,346 781,668 2271,143 Notes Bonds 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 Total 23,409,3%5 1276,888 $,854,242 1366,476 2056,234 1495,696 1212,536 4086,132 $68,09$ $0$,175 1065,035 917,390 2665,486 Held under repurchase agreement Total U. S. Govt, sees. 23,409,385 1276,888 5,854,242 1366,476 2056,234 1495,696 1212,536 4086,132 968,095 505,175 1005,035 917,390 2665,486 Total loans & securities 23,635,337 1289,270 5,908,960 1380,280 2080,489 1511,571 1221,991 4131,736 978,780 514,296 1024,738 923,440 2669,786 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,626,630 321,029 811,618 286,215 391,467 383,407 379,957 794,079 187,722 126,645 235,589 244,520 464,382 Bank premises 84,580 4,941 10,652 4,469 9,620 6,943 6,935 6,859 6,360 5,301 4,952 6,509 11,039 Other assets 124,468 6,524 30,297 6,868 11,073 7,931 6,506 22,914 4,913 2,652 5,292 5,727 13,771 TOTAL ASSETS 51,637,235 2743,310 13,088,142 2940,117 4552,333 3366,799 2607,786 9145,178 2110,816 1109,250 2206,107 2008,560 5758,837 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 26, 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 26,510,170 1567,142 6,251,493 1667,156 2524,717 2103,717 1246,328 5165,565 1183,602 503,484 1047,635 714,833 2534,498 Deposits: Member bank reserves 18,879,769 749,808 5,437,706 877,041 1501,664 824,267 902,930 3067,720 691,277 432,271 851,517 974,126 2569,442 U.S.Treas.-gen.acct. 406,364 35,190 43,909 26,035 27,379 38,451 41,360 40,539 17,764 22,635 41,538 25,668 45,896 Foreign 273,956 15,105 1/83,686 18,285 23,585 13,515 11,925 37,895 9,805 6,360 10,335 13,780 29,680 Other 297,801 429 "242,822 9,748 1,612 2,249 1,662 633 3,213 247 1,525 1,284 32,377 Total deposits 19,857,890 800,532 5,808,123 931,109 1554,240 878,482 957,877 3146,787 722,059 461,513 904,915 1014,858 2677,395 Deferred availability cash items 3,905,843 296,466 653,937 248,205 351,223 312,415 339,973 636,111 152,506 110,039 199,207 208,634 397,127 Other liabilities and accrued dividends 16.653 7f6w8 *+,4j.lv1jh6-4 (7w8 8ywx 2.195 861 9 6y7v4( y2i.v3 23 638 657 673 993 1.919 TOTAL LIABILITIES 50,290,556 2664,908 12,717,717 2847,258 4432,375 3295,475 2544,852 8950,786 2058,805 1075,693 2152,430 1939,318 5610,939 CAPITAL ACCOUNTS Capital paid in 348,824 17,817 102,683 21,367 32,899 15,872 16,926 47,585 11,744 7,539 14,133 19,685 40,574 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 161,114 10,561 36.460 11.080 14,503 10,867 9,054 23.874 8.160 5,248 7,874 7.379 16.054 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,637,235 2743.310 13,088.142 2940.117 4552,333 3366.799 2607,786 9145,178 2110,816 1109,250 2206.107 2008.560 5758.837 Conting. liab. on acceptances purchased for foreign correspondents 142,742 8,134 2/40,283 9,846 12,700 7,278 6,422 20,406 5,280 3,425 5,565 7,421 15,982 Industrial loan commit. 1,075 20 52 -- -- Di — -- V4U FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,745,074 1664,831 6,622,849 1755,652 2627,564 2180,599 1308,105 5305,622 1235,890 529,553 1073,408 764,181 2676,920 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 700,000 3,270,000 640,000 1130,000 875,000 425,000 2500,000 450,000 140,000 300,000 283,000 1500,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,213,000 EElliiggiibbllee ppaappeerr 44,028 13,640 — — — — 10,685 — 19,703 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,165,000 TToottaall ccoollllaatteerraall 29.422.028 1850.000 6.870.000 1853.640 2730.000 2225.000 1425.000 5600.000 1355.685 565.000 1139.703 808.000 3000,000 2/ After deducting $102^459*000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis