H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM March 13, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, ADD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member ban kreserves for the week ending March 12 increased $25 million to $18,699 million. Estimated required reserves decreased $15 million; and estimated excess reserves increased $40 million to $591 million, Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $460 million, compared with $433 million the week before. The principal changes supplying average reserves were an increase of $210 million in Federal Reserve holdings of U, S, Government securities, and a decrease of $27 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $76 million in Federal Reserve float and $71 million in gold stock, and an increase of $79 million in money in circulation. Total Reserve Bank credit increased $147 million. As of Wednesday, March 12, holdings of U. S. Government securities bought outright were $143 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $62 million higher, and member bank borrowings were $120 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items March 12, 1958 March 5, 1958IMarch 13, 1957 (In millions of dollars) Reserve Bank credit: U. S, Government securities-- Bought outright—System account 23,432 +181 Held under repurchase agreement 34 + 29 Acceptances--bought outright 43 +1 Loans, discounts, and advances— Member bank borrowings 131 + 13 Other 1 Float 816 - 76 Total Reserve Bank credit 24,456 +147 Gold stock 22,615 - 71 Treasury currency outstanding 5 174 + 6 ; 52,245 +""51 Money in circulation 30,641 +79 +32 Treasury cash holdings 712 + 10 -100 Treasury deposits with F, R. Banks 479 - 7 +8 Foreign deposits with F, R. Banks 273 + 3 - 24 Other deposits with F. R. Banks 293 - 27 +92 Other F. R. accounts (net) 1,148 - 3 + 19 33,546 T~% + 27 Member bank reserves-- 18,699 + 25 + 45 Required reserves (estimated) 18,108 - 15 - 97 Excess reserves (estimated) 591 + 40 +142 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 22,612 Treasury cash holdings 734 Treasury currency outstanding 5,175 Member bank) - Required (est.) 18,206 Money in circulation 30,594 reserves ) - Excess (est.) 606 On March 12, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,496 million, a decrease of $36 million for the week and a decrease of $240 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4U(a) STATEMENT OF CONDITION OP THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since March 12, March 5, March 13, y?r 1958 1958 A S S E TS Gold certificate account 21,160,394 • 74,999 + 396,002 Redemption fund for F, R, notes 860,839 229 + 4,273 Total gold certificat ereserves 22,021,233 - 75,228 + 400,275 F. R« notes"o fother Banks 496,902 - 14,496 + 78,974 Other cash 489,664 - 18,575 + 38,440 Discounts and advances 226,976 + 119,973 - 411,608 Industrial loans 511 + 20 290 Acceptances—bought outright 42,601 + 1 + 19,440 U. S. Government securities; Bought outright-- Bills 723,310 143,050 + 426,855 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds ,2,789,257 - ,12,493 Total bought outright 23,458,672 + 143,050 + 426,855 Held under repurchase agreement 77,300 + 62,300 + 40,100 Total U. S. Government securities 23,535,972 + 205,350 +"~Sgg7955 Total loans and securities 23,806,060 + 325,344 + 74,497 Due from foreign banks 15 7 Uncollected cash items 4,732,592 + 116,314 - 244,335 Bank premises 84,992 + 241 + 9,567 Other assets 156,995 + 15,706 + 23,498 TOTAL ASSETS 51,788,453 + ~3B0,9Q9 L I A B I L I T I ES Federal Reserve note's ~ 26,549,010 1,856 + 60,169 Deposits: Member bank reserves 18,812,006 + 103,590 + 279,005 U» S« Treasurer--general account 446,400 + 60,712 4,888 Foreign 280,942 - 5,553 - 11,408 Other 302,818 ~ 6,007 + 98,184 Total deposits 19,842,166 + 152,752 + 360,893 Deferred availability cash items 4,008,585 + 184,496 - 91,795 Other liabilities and accrued dividends 17,087 1,.3 4980 TOTAL LIABILITIES 50,416;848 + 336,730 + 329,177 C A P I T AL A C C O U N TS Capital paid in ~ 349,490 403 + 19,038 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 185,374 + 12,173 28,%11 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,788,453 + 349,306 + 380,909 Ratio of gold certificat ereserves to deposit and F. R *note liabilities combined 47.5# .3# Contingent liability on acceptances purchased for foreign correspondents 129,756 3,706 70,852 Industrial loan commitments 994 82 976 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES. MARCH 12 ,1958 (Acceptances and securities held under repurchase agreement are classified as maturing within 1 5days in accordanc ewith maximum maturity of the agreements.) Discounts and Industrial U* S, Government advances loans Acceptances securities Within 15 days 223,768 128 16,448 141,550 16 days to 90 days 3,180 183 26,153 659,060 91 days to 1 year 28 87 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 226,976 5Tl 42,601 23,535,972 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF C0NDIT][ ON OF EACH FEDERAL RESERVE BANK ON MARCH 12, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco AS S E TS Gold certificate account 21,160,394 1074,252 5,973,790 1119,115 1808,112 1287,196 817,269 3754,859 838,818 404,501 871,893 723,624 2486,965 Redemption fund for F. R. notes 860,819 55,102 178.268 59.313 78.014 78.244 48.164 155.370 42.882 22.006 41.198 28.178 74.080 Total gold certificate — reserves 22,021,233 1129,354 6,152,058 1178,448 1886,126 1365,440 865,433 3910,229 881,700 426,507 913,091 751,802 2561,045 F.R. notes of other Banks 496,902 25,702 137,936 33,048 46,688 38,605 70,230 38,028 10,947 21,730 6,66l 30,924 36,403 Other cash 489,664 28,329 110,146 29,168 41,231 33,717 38,322 82,557 27,146 9,613 14,270 17,084 58,081 Discounts and advances 226,976 13,260 46,050 6,775 25,530 3,700 9,350 92,498 4,600 4,430 15,133 1,650 4,000 Industrial loans 511 327 163 21 Acceptances— -Bought outright 42,601 42,601 U. S. Govt, securities: Bought outright-- Bills 723,310 39,454 180,886 42,222 63,534 46,214 37,466 126,254 29,912 15,609 31,054 28,346 82,359 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 Notes Bonds 2,789,257 152.141 697.540 162,817 245,003 178,214 144.475 486,868 115,350 60,192 119,751 109,308 317,596 Total 23,458,672 1279,577 5,866,565"" 1369,353 2060,563 1498,84 51215,089 4094,73 5970,133 506,238 1007,151 919,322 2671,098 Held under repurchase agreement 77,300 77,300 Total U. S. Govt, sees. 23,535,972 1279,577 5,943,868 1369,353 2060,563 1498,84 51215,089 4094,73 5970,133 506,238 1007,151 919,322 2671,098 Total loans & securities 23,806,060 1293,164 6,032,519 1376,291 2086,093 1502,545 1224,439 4187,233 974,733 510,689 1022,284 920,972 2675,098 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,732,592 332,494 888,357 286,309 414,727 374,853 422,726 766,944 198,682 127,565 230,062 239,957 449,816 Bank premises 84,992 4,941 10,629 4,469 9,740 6,943 6,936 6,977 6,353 5,301 4,935 6,529 11,239 Other assets 156,995 8,258 38,378 8,767 13,867 9,892 8,145 28.900 6,249 3,334 7,041 6,767 17,397 TOTAL ASSETS 51,788,453 2822,243 13,370,027 2916,501 4498,473 3331,996 2636,232 9020,870 2105,811 1104,839 2198,345 1974,036 5809,080 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 COHDITCO]N OF EACH FEDERA] 1 . i <3 8 1 $ 1958 Phila- I Cleve- St. Minne- Kansas San TToottaall Boston New York delphiaj land Richmond Atlanta Chicago Louis apolis City DDaallllaass Francisco (In thousandso f dollars) L I A B I L I T I ES Federal Reserve notes 26,549,010 1566,877 6,260,441 1666,690 2520,401 2093,004 1242,663 5164,680 1185,846 518,001 1052,870 714,732 2562,805 Deposits: Member bank reserves 18,812,006 820,721 5,653,393 851,447 1441,380 801,234 908,990 2912,693 671,214 441166,,001133 848,507 930,165 2556,249 U.S.Treas.-gen.acct. 446,400 29,166 62,806 28,999 27,452 32,585 36,324 50,003 19,372 18,258 40,173 28,854 72,408 Foreign 280,942 15,105 1/90,672 18,285 23,585 13,515 11,925 37,895 9,805 6,360 10,335 13,780 29,680 Other 302,818 393 239,712 9,833 1,257 4,192 1,548 732 1,536 310 1,702 1,388 40,215 Total deposits 19,842,166 865,385 6,046,583 908,564 1493,674 851,526 950,707 3001,323 701,927 440,941 900,717 974,187 2698,552 Deferred availability cash items 4,008,585 309,431 681,813 246,087 360,070 313,756 369,829 653,210 164,407 111,199 189,456 214,115 395,212 Other liabilities and accrued dividends 17,087 874 4,288 844 2,231 885 719 2,817 593 676 614 886 1,660 TOTAL LIABILITIES 50,416,848 2742,567 12,993,125 2822,185 4376,376 3259,171 2571,998 8822,03 02052,773 1070,817 2143,65 71903,920 5658,229 CAPITAL ACCOUNTS Capital paid in 349,490 17,820 102,930 21,404 32,951 15,875 17,051 47,664 11,781 7,543 14,145 19,701 40,625 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 Suzplais (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 185,374 11,832 42,690 12,500 16,590 12,365 10,229 28,243 9,150 5,709 8,873 8,237 18,956 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,788,453 2822,243 13,370,027 2916,501 4498,473 3331,996 2636,232 9020,870 2105,811 1104,839 2198,345 1974,036 5809,080 Coating, liab. on acceptances purchased for foreign correspondents 129,756 7,393 2/36,632 8,949 11,543 6,615 5,837 18,547 4,799 3,113 5,058 66,,774444 1144,,552266 Industrial loans commit. 994 -- 2 52 - - — — 940 — FEDERAL RESERVE AGENTS' ACCOUIITS ^ • F. R» notes outstanding 27,703,421 1657,321 6,617,841 1745,805 2619,255 2174,588 1307,123 5207,107 1227,093 536,226 1080,057 760,999 2690,006 Collat. for F. R. notes: Gold certificate acct. 12,193,000 700,000 3,270,000 640,000 1130,000 875,000 425,000 2500,000 430,000 i4o,ooo 300,000 283,000 1500,000 Eligible paper 26,508 6,775 -- -- -- -- 4,600 15,133 U. -S, Govt, securities1 7,145,000 1150,000 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 875,000 425,000 820,000 525,000 1500,000 Total collateral 29,364,508 1850,000 6,870,000 1846,775 2730,000 2225,000 1425,000 5600,000 1309,600" 565,000 1135,133 800,000 30007555" 1/ After deducting $190,270,000 participationso f other Federa lReserve Banks, 2/ After deducting $93,124,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis