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 27, 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 March 26 decreased $205 million to $18,725 million. Estimated required reserves decreased $282 million; and estimated excess reserves increased $77 million to $684 million. Excess reserves exceeded member tank borrowings at the Federal Reserve Banks by $520 million, compared with $482 million the week before. The principal changes reducing average reserves were increases of $323 million in Treasury deposits with Federal Reserve Banks and $32 million in 11 other" deposits with Federal Reserve Banks, and a decrease of $43 million in gold stock. The principal offsetting changes were increases of $52 million (net) in Federal Reserve holdings of U. S, Government securities, which included a decrease of $50 million in average holdings of certificates of indebtedness--special series, and $39 million in member bank borrowings, and a decrease of $68 million in money in circulation. Total Reserve Bank credit increased $104 million. As of Wednesday, March 26, holdings of V. S. Government securities bought outright were $88 million higher than a week earlier and member bank borrowings were $113 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items March 26, 1958 March 19, 1958|March 27. 1957" (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,518 + 88 +467 Special certificates «• «• - 50 » •» Held under repurchase agreement 34 + 14 - 9 Acceptances--bought outright 40 — «• + 17 Loans, discounts, and advances— Member bank borrowings 164 + 39 -655 Other 3 + 2 - 23 Float 983 + 10 + 16 Total Reserve Bank credit 24,742 +io4 -188 Gold stock 22,498 - 43 +193 Treasury currency outstanding 5,180 + 2 + 97 52,420 + 63 +102 Money in circulation 30,524 - 68 + 22 Treasury cash holdings 790 - 14 - 23 Treasury deposits with F. R. Banks 580 +323 +227 Foreign deposits with F. R. Banks 258 + 1 - 76 Other deposits with F. R. Banks 400 + 32 +195 Other F. R. accounts (net) 1,143 - 7 + 4 33,695 +267 +3^8 Member bank reserves-- 18,725 -205 -246 Required reserves (estimated) lE/KI -282 -321 Excess reserves (estimated) 684 + 77 + 75 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 22,494 Treasury cash holdings 730 Treasury currency outstanding 5;182 Member bank) - Required (est.) 18,011 Money in circulation 30,523 reserves ) - Excess (est.) 415 On March 26, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,376 million, a decrease of $29 million for the week and a decrease of $345 million from the comparable date a Digitized for FRASER http://yfreasaerr. staloguiosf.ed .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 March 26, March 19, March 27, 1958 1958 1957 A S S E TS Gold certificate account 21,048,391 12,001 + 273,999 Redemption fund for F. R. notes 855,732 1,966 + 3,585 Total gold certificate reserves 21,904,123 13,967 + 277,584 F. R. notes of other Banks 503,076 12,044 + 95,449 Other cash 488,048 2,021 + 40,681 Discounts and advances 117,914 112,926 - 498,670 Industrial loans 507 + 33 - 288 Acceptances--bought outright 39,430 + 1,005 + 16,755 U. S. Government securities: Bought outright-- Bills 789,260 87,500 + 484,555 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 23,524,622 87,500 + 484,555 Held under repurchase agreement - 25,500 Total U. S. Government securities 23,524,622 87,500 + 459,055 Total loans and securities 23,682,473 - 24,388 23,148 Due from foreign banks 15 7 Uncollected cash items 4,529,611 -1,983,135* 81,500 Bank premises 85,636 + 198 + 9,985 Other assets 173,400 + 12,507 27,970 TOTAL ASSETS 51,366,382 -1,998,762* + 347,014 L I A B I L I T I ES Federal Reserve note i s— — 26,472,927 77,558 + 101,260 Deposits: Member bank reserves 18,426,390 545,350 + 76,868 U. S. Treasurer--general account 622,859 + 522,705 + 132,986 Foreign 255,628 + 12,667 - 89,215 Other 393,478 - 17,033 + 94,003 Total deposits 19,698,355 - 27,011 + 214,642 Deferred availability cash items 3,825,671 -1,863,424 + 21,754 Other liabilities and accrued dividends 18,232 + 1,843* 516 TOTAL LIABILITIES 50,015,185 -1,966,150* + 337,140 C A P I T AL A C C O U N TS Capital paid in 349,799 114 + 19,034 Surplus (Section 7) 809,198 + 61,605 Surplus (Section ljb) 27,543 Other capital accounts 164,657 • 32,726 - 70,765 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,366,382 •1,998,762* + 347,014 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 47.4# + - .2$ Contingent liability on acceptances purchased for foreign correspondents 127,625 353 + 68,690 Industrial loan commitments 997 -JL ; 2ZL March 19 figures revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 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 114,996 127 9,642 32,750 16 days to 90 days 2,890 189 29,788 756,510 91 days to 1 year 28 87 20,285,201 Over 1 year to 5 years 104 1,035,304 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Total 117,914 507 39,430 23,524,622 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MARCH 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) A S S E TS Gold certificate account 21,048,391 1051,896 6,067,408 1139,474 1728,423 1257,159 820,394 3788,050 805,443 410,822 825,062 729,566 2424,694 Redemption fund for F, R. notes 855.732 54.843 177.069 58.884 77.607 76.750 47.954 154.915 42.761 21.944 41.086 28.092 73.827 Total gold certificate reserves 21,904,123 1106,739 6,244,477 1198,358 1806,030 1333,909 868,348 3942,965 848,204 432,766 866,148 757,658 2498,521 F,R, notes of other Banks 503,076 27,097 128,377 30,570 50,652 39,439 79,122 38,066 13,385 19,063 7,673 32,061 37,571 Other cash 488,048 32,478 103,769 30,461 42,024 32,260 37,297 79,515 27,307 10,918 14,911 17,844 59,264 Discounts and advances 117,914 13,055 14,125 5,825 5,516 15,150 2,100 37,368 3,950 5,450 14,025 1,200 150 Industrial loans 507 327 160 20 Acceptances- Bought outright 39,430 39,430 U. S. Govt, securities: Bought outright— Bills 789,260 43,051 197,379 46,072 69,327 50,428 40,882 137,765 32,640 17,032 33,886 30,930 89,868 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 2.789.257 152.143 697.540 162.817 245.003 178.214 144.475 486.868 115.150 60.192 119.751 109.308 317.596 Total 23,524,622 1283,174 5,883,061 1373,203 2066,356 1503,059 1218,505 4106,246 972,861 507,661 1009,983 921,906 2678,607 Held under repurchase agreement Total U. S, Govt, sees. 23.524.622 1283.174 5.883.061 1373.203 2066.356 1503.059 1218.505 4106.246 972.861 507.661 1009.983 921.906 2678.607 Total loans & securities 23,682,473 1296,556 5,936,616 1379,188 2071,872 1518,209 1220,605 4143,6l4 976,811 513,131 1024,008 923,106 2678,757 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,529,611 326,564 805,977 271,161 426,082 374,718 387,051 707,202 180,227 120,112 232,995 249,437 448,085 Bank premises 85,636 4,906 10,669 4,446 9,729 6,914 7,325 7,056 6,413 5,348 4,935 6,529 11,366 Other assets 173.400 9.123 42.613 9.805 15.212 10.949 9.087 31.391 6.918 1.707 7.752 7.570 19.273 TOTAL ASSETS 51,366,382 2803,464 13,272,502 2923,990 4421,602 3316,399 2608,836 8949,811 2059,266 1105,045 2158,423 1994,206 5752,838 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 &ESERVE mm PIT mRCH 26, 19^8 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolia City Dallas Francisco (In thousands of dollars1] L I A B I L I T I ES Federal Rererve notes 26,472,927 1564,491 6,303,917 1659,212 2502,873 2075,900 1236,624 5143,874 1177,328 518,860 1044,449 710,233 2535,166 Deposits: Member hank reserves 18,426,390 794,113 5,457,512 869,471 1360,388 777,587 910,052 2905,780 644,659 417,315 817,528 945,478 2526,507 U.S. Treas. -gen. acc t. 622,859 50,930 78,086 44,620 46,886 60,861 51,439 76,783 28,344 25,820 42,907 34,636 81,547 Foreign 255,628 14,193 1/76,846 17,181 22,l6l 12,699 11,205 35,607 9,213 5,976 9,711 12,948 27,888 Other 393,478 245 "338,438 9,440 1,173 3,653 2,109 558 1,224 361 1,071 1,153 34,053 683,440 449,472 Total deposits 19,690,355 Deferred availability cash items 3,825,671 Other liabilities and accrued dividends 18,232 TOTAL LIABILITIES 50,015,185 CAPITAL ACCOUNTS Capital paid in 349,799 Surplus (Section 7) 809,193 Surplus (Section 13b) 27,543 Other capital accounts 164,657 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51 # 366,382 Coating, liab. on acceptances purchased for foreign correspondents 127,625 Industrial loan commit. 997 00 HI E 994,215 2669,995 145,652 102,365 188,252 219,256 397,281 922 4,700 833 2,236 892 755 2,922 596 681 644 1,066 1,985 2724,856 12,901,133 2830,875 4301,283 3244,796 2545,582 8754,507 2007,016 1071,378 2104,562 1924,770 5604,427 17,824 102,941 21,405 32,979 15,909 17,120 47,777 11,789 7,563 14,154 19,711 40,627 47,013 223,963 55,923 71,550 41,236 36,192 121,504 31,586 19,697 30,533 40,871 89,130 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 10,760 37,146 11,298 14,784 11,109 9,180 24,594 8,354 5,334 8,037 7,547 16,514 2803,464 13,272,502 2923,990 4421,602 3316,399 2608,836 8949,811 2059^266 11C5,045 2158,423 1994,206 5752,838 7,273 2/36,008 8,805 11,357 6,508 5,742 18,247 4,721 3,062 4,976 6,635 14,291 5 52 940 "™" FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 27,592,957 1655,803 6,638,419 1736,256 2606,027 2150,460 1295,959 5255,611 1217,835 535,876 1073,079 757,252 2670,378 Collat. for F. R. notes: 700.000 3,270,000 640,000 1130,000 875,000 425,000 2400,000 430,000 140,000 300,000 283,000 1500,000 Gold certificate acct. 12,093,000 Eligible paper 23,800 5,825 — — — — 3,950 — 14,025 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 U. S. Govt, securities 17,145,000 To • t a . l . . c • o • l l . a t . e r . a l , * 29.261>80 0- r 1 - 8 .r 5 — 0,0 0 — 0 - —- 6 — . 8 - 70,000 1845,82% 2730.000 2225,000 1425.000 5500.000 1308,950 565,000 1134.025 808.000 3000,000 1/ After deducting $178,782,000 participations of other Federal Reserve Banks. 2/ After deducting $91,617,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis