H.4.1 Factors Affecting Reserve Balances of Depository Institutions

H.4.1 BOARD OF GOVERNORS For Immediate Release OF THE FEDERAL RESERVE SYSTEM April 3, 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 April 2 decreased $199 million to $18,526 million. Estimated required reserves decreased $210 million; and estimated excess reserves increased $11 million to $695 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $551 million, compared with $520 million the week before. The principal changes reducing average reserves were decreases of $207 million in Federal Reserve float and $104 million in gold stock, and an increase of $112 million in money in circulation. The principal offsetting changes were an increase of $73 million in Federal Reserve holdings of U. S. Government securities, and decreases of $64 million in Treasury cash holdings and $57 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $156 million. As of Wednesday, April 2, holdings of U. S« Government securities bought outright were $103 million higher than a week earlier an dmember bank borrowings were $5 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items April 2, 1958 March 26, 19581 April.3, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,625 +107 +585 Held under repurchase agreement - 34 -149 Acceptances—bought outright 4o + 17 Loans, discounts, and advances— Member bank borrowings 144 - 20 -905 Other 1 2 - 25 Float 776 -207 -101 Total Reserve Bank credit 24,586 -156 -579 Gold stock 22,394 -104 + 88 Treasury currency outstanding 5,184 + 4 + 98 52,164 -256 -393 Money in circulation 30,636 +112 + 48 Treasury cash holdings 726 - 64 - 83 Treasury deposits with F. R. Banks 523 - 57 + 6 Foreign deposits with F. R. Banks 277 + 19 - 17 Other deposits with F. R. Banks 368 - 32 + 54 Other F. R. accounts (net) 1,109 - 34 - 58 33,639 - 56 - 49 Member bank reserves-- 18,526 -199 -342 Required reserves (estimated) 17,831 -210 -694 Excess reserves (estimated) 695 + 11 +352 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 22,39^- Treasury cash holdings 732 Treasury currency outstanding 5,185 Member bank) - Required (est.) 17,662 Money in circulation 30,676 reserves ) - Excess (est.) 704 On April 2, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,301 million, a decrease of $75 million for the week and a decrease of $440 million from 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 (Iti thousands of dollars) . Change since April 2, March 26, April 3, 1958 1958 .1957 A SS E T S Gold certificate account 20,948,393 99,998 + 174,001 Redemption fund for F« R. notes 90 + 5,556 Total gold certificate reserves 21,804,035 100,068 + 179,557 F. R. notes of other Banks 442,968 60,108 + 62,318 Other cash 464,493 23,555 + 36,867 Discounts and advances 112,436 5,478 -1,008,368 Industrial loans 478 29 309 Ac ceptance s--bough toutright 39,429 1 + 16,054 U. S. Government securities: Bought outright-- Bills 892,560 103,300 + 587,855 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 23,627,922 + 103,300 + 587,855 Held under repurchase agreement - 227,500 Total U. S. Government securities 23,627,922 + 103,300 + 360,355 Total loans and securities 23,780,265 + 97,792 - 632,268 Due from foreign banks 15 7 Uncollected cash items 4,453,350 - 76,261 - 62,853 Bank premises 85,615 - 21 + 9,847 Other assets 187,862 + 14,462 + 98,429 TOTAL ASSETS 51,210,603 - 147,779 - 308,110 L I A B I L I T I ES Federal Reserve notes ~ ~ 26,540,280 + 67,353 + 90,424 Deposits: Member bank reserves 18,365,529 60,86l - 829,094 U. S. Treasurer--general account 602,717 20,142 + 242,701 Foreign 279,326 23,698 + 30,018 Other 382,551 10,927 + 84,728 Total deposits 19,630,123 -68,232 - 471,647 Deferred availability cash items 3,667,735 - 157,936 + 63,030 Other liabilities and accrued dividends 16,898 - 1,334 846 TOTAL LIABILITIES 49,855,036 - 160,149 - 319,039 C A P I T AL A C C O U N TS Capital paid in 349,901 102 + 19,002 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 176,925 + 12,268 - 69,678 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,216,603 - 147,779 - 308.110 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.2# .2# Contingent liability on acceptances purchased for foreign correspondents 136,815 + 9,190 74,273 Industrial loan commitments 1,025 + 28 931 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. APRIL 2, 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 110,282 136 9,622 59,550 16 days to 90 days 2,103 151 29,807 833,010 91 days to 1 year 51 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 112,436 39,429 23,627,922 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 ON APRIL 2, 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 20,948,393 1058,882 5,880,283 1174,262 1774,616 1222,865 847,717 3541,369 852,135 462,758 924,229 759,563 2449,714 Redemption fund for 855,642 54,840 177,048 58,879 77,598 76,745 47,938 154,903 42,755 21,943 41.082 28,088 73,823 F, R, notes Total gold certificate reserves 21,804,035 1113,722 6,057,331 1233,141 1852,214 1299,610 895,655 3696,272 894,890 484,701 965,311 787,651 2523,537 F.R. notes of other Banks 442,968 23,224 112,540 22,679 47,233 34,845 75,302 34,930 8,561 18,921 4,373 27,859 32,501 464,493 32,784 97,004 28,332 44,068 28,814 31,702 77,300 25,008 10,109 14,183 19,793 55,396 Other cash 112,436 22,290 12,140 2,885 3,516 8,510 3,276 31,501 3,440 350 14,553 9,600 375 Discounts and advances Industrial loans 478 327 131 20 Acceptances— Bought outright 39,429 -- 39,429 -- - - " -- U. S* Govt, securities: Bought outright— Bills 892,560 48,599 225,076 51,307 79,014 58,099 45,416 155,912 36,411 18,777 38,097 34,962 100,890 Certificates 19,946,105 1086,025 5,029,769 1146,582 1765,729 1298,332 1014,918 3484,186 813,681 419,606 851,360 781,309 2254,608 Notes 2,789,257 151,869 703,361 160,338 246,919 181,558 141,926 487,227 113,785 58,678 119,054 109,258 315,284 Bonds Total 23,627,922 1286,493 5,958,206 1358,227 2091,662 1537,989 1202,260 4127,325 963,877 497,061 1008,511 925,529 2670,782 Held under repurchase agreement 1286,493 5,958,206 1358,227 2091,662 1537,989 1202,260 4127,335 963,877 497,061 1008,511 925,529 2670,782 Total U. S. Govt, sees. 23,627,922 23,780,265 1309,110 6,009,775 1361,243 2095,178 1546,499 1205,536 4158,826 967,317 497,431 1023,064 935,129 2671,157 Total loans & securities Due from foreign "banks 15 1 1/4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 4,453,350 338,390 851,659 284,137 392,292 351,301 350,646 721,241 184,202 119,768 220,279 201,375 438,060 Bank premises 85,615 4,906 10,648 4,446 9,730 6,902 7,400 7,141 6,408 5,345 4,918 6,413 11,358 10,087 45,957 10,573 16,928 12,026 9.602 34,094 7,478 3,916 8,349 8,079 20,773 Other assets 187,862 TOTAL ASSETS 51,218,603 2832,224 13,184,918 2944,552 4457,644 3279,998 2575,844 8729,806 2093,865 1140,191 2240,478 1986,300 5752,783 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2it/ize dL feors FsR AtSEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 2, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago DDaallllaass delphia. land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,540,280 1566,302 6,319,819 1663,474 2498,875 2078,614 1241,668 5146,968 1179,838 525,024 1048,608 713,172 2557,918 Deposits: Member bank reserves 18,365,529 833,639 5,349,927 891,690 1434,591 780,360 906,259 2698,961 675,667 420,854 884,537 965,869 2523,175 U.S.Treas.-gen.acct. 602,717 26,281 108,190 28,150 39,774 43,253 45,311 68,400 24,771 47,743 66,242 45,471 59,131 Foreign 279,326 16,131 1/76,132 19,527 25,187 14,433 12,735 40,469 10,471 6,792 11,037 14,716 31,696 Other 382,551 288 314,687 11,668 1,300 4,103 1,333 815 2,017 155 1,268 1,324 43,593 Total deposits 19,630,123 876,339 5,848,936 951,035 1500,852 842,149 965,638 2608,645 712,926 475,544 963,084 1027,380 2657,595 Deferred availability cash items 3,667,735 309,336 637,520 235,361 333,910 286,048 303,798 573,923 147,789 105,100 173,895 175,099 385,956 Other liabilities and accrued dividends 16,898 987 3,914 795 2,619 766 838 2,804 599 642 592 782 1,560 TOTAL LIABILITIES 49,855,036 2752,964 12,010,109 2850,665 4336,256 3207,577 2511,942 0532,340 2041,152 1106,310 2186,179 1916,433 5603,029 CAPITAL ACCOUNTS Capital paid in 349,901 17,824 102,947 21,420 32,994 15,910 17,131 47,814 11,799 7,563 14,155 19,714 40,630 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 176,925 11,412 40,500 12,055 15,838 11,926 9,817 26,719 8,807 5,548 8,474 7,975 17,854 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,218,603 2832,224 13,184,918 2944,552 4457,644 3279,998 2575,844 8729,806 2093,865 1140,191 2240,478 1986,300 5752,783 Conting. liab. on acceptances purchased for foreign correspondents 136,815 7,786 2/38,736 9,426 12,158 6,967 6,147 19,534 5,054 3,278 5,327 7,103 15,299 Industrial loan commit. 1,025 •• 3ij. 51 "»«* *••• 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,573,888 1652,727 6,623,780 1736,397 2601,157 2147,509 1292,130 5252,020 1226,045 541,587 1071,395 758,021 2671,096 Collat. for F, R. notes: Gold certificate acct. 12,108,000 700,000 3,270,000 640,000 1130,000 875,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 Eligible paper 20,878 —- 2,885 —— - — —- —— 3,440 14,553 —- -— V. S. Govt, securities 17,145,000 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 29,273,070 1850.000 6.870.000 1842.885 2710.000 2225.000 1425.000 5500.000 1108.440 580.000 1134.553 808.000 1000.000 l/ After deducting $203,194,000 participations of other Federal Reserve Banks, 2/ After deducting $98,079,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis