H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARt) OS 1GOVMNORS For Immediate Release H.4.1 OF THE FEDERAL RJ&feRVE SYSTE MApril 24, 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 reserve sfor the week ending April 23 increased $285 million to $18,654 million. Estimated required reserves increased $223 million; and estimated excess reserves increased $62 million to $715 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $603 million, compared with $454 million the week before. The principal changes supplying average reserves were increases of $l6l million in Federa lReserve float and $79 million in Federal Reserve holdings of U. S. Government securities ,and decreases of $116 million in money in circulation, $77 million in foreign deposit swith Federal Reserve Banks, and $40 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $118 million in gold stock and $87 million in member bank borrowings. Total Reserve Bank credit increased $153 million. As of Wednesday, April 23, U. S, Government securities held under repurchase agreement were $92 million lower than a week earlier an dmember bank borrowings were $54 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items April 23, 1958 April 16, 1958IApril 24, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,704 + 93 +535 Held under repurchase agreement 8 - 14 - 60 Acceptances--bought outright 39 - 1 + 14 Loans, discounts, and advances-- Member bank borrowings 112 - 87 -810 Other * - 26 Float 990 +161 -494 Total Reserve Bank credit 24,854 +153 -84l Gold stock 22,081 -118 -236 Treasury currency outstanding 5,193 + 1 +101 52,128 + 36 -976 Money in circulation 30,617 -116 + 7 Treasury cash holdings 721 - 10 - 70 Treasury deposits with F. R. Banks 417 - 40 - 39 Foreign deposits with F. R. Banks 242 - 77 -148 Other deposits with F. R. Banks 376 - 5 - 78 Other F. R. accounts (net) 1,102 - 2 -100 33,474 -249 -430 Member bank reserves-- 18,654 +285 -547 Required reserves (estimated) 17,939 +223 -700 Excess reserves (estimated) 715 + 62 +153 * 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 22,046 Treasury cash holdings 731 Treasury currency outstanding 5,194 Member bank) - Required (est.) 17,901 Money in circulation 30,512 reserves ) - Excess (est.) 654 On April 23, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,152 million, a decrease of $65 million for the week an da decrease of $609 million from the comparable date Digitizaed fyore FaRrA SaEgR o. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) since April 23, April 16, April 24, 1958 1958 1957 A S S E TS Gold certificate account 20,613,392 - 124,999 165,999 Redemption fund for F, R, notes 847,607 3,169 - 7,828 Total gold certificate reserves 21,460,999 - 128,168 - 173,827 F. R. notes of other Banks 476,593 + 37,385 + 41,270 Other cash 433,833 + 7,602 + 37,235 Discounts and advances 242,055 - 54,385 - 431,654 Industrial loans 494 4 - 281 Acceptances—bought outright 37,428 2,001 + 12,518 U. S. Government securities: Bought outright— Bills 968,610 __ + 534,505 Certificates 19,946,105 -- +8 ,583,906 Notes -- -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 23,703,972 + 534,505 Held under repurchase agreement — 92,000 -- Total U. S. Government securities 23,703,972 - 92,000 + 534,505 Total loans and securities 23,983,949 - 148,390 + 115,088 Due from foreign banks 15 -- - 7 Uncollected cash items 4,921,914 - 847,519 - 306,428 Bank premises 86,423 + 184 + 9,798 Other assets 232,429 + 15,292 + 104,363 TOTAL ASSETS 51,596,155 -1,063,614 - 172,508 L I A B I L I T I ES Federal Reserve note¥ 26,374,828 - 112,963 + 48,350 Deposits: Member bank reserves 18,555,468 - 314,454 - 316,346 U. S. Treasurer--general account 462,266 + 68,681 + 133,830 Foreign 227,423 - 31,614 - 160,414 Other 395,182 + 11,328 + 102,204 Total deposits 19,640,339 - 266,059 - 240,726 Deferred availability cash items 4,161,260 - 698,447 + 5,898 Other liabilities and accrued dividends 19,531 + 1,610 + 101 TOTAL LIABILITIES 50,195,958 -1,075,859 - 186,377 C A P I T AL A C C O U N TS Capital paid in 350,273 99 + 18,866 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 213,183 + 12,146 - 66,602 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,596,155 -1,063,614 - 172,505 Ratio of gold certificate reserves to deposit .2$ and F. R. note liabilities combined 46.6# .1% Contingent liability on acceptances purchased for foreign correspondents 129,815 5,463 + 65,637 Industrial loan commitments 1,007 4 955 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 23, 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 240,573 136 12,930 319,550 16 days to 90 days 1,465 177 24,498 649,060 91 days to 1 year 17 81 20,285,201 Over 1 year to 5 years 100 1,035,304 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Total 242,055 37,428 23,703,972 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF C0NDITC]O N OF EACH FEDERA3 RESERVE BANK ON APRIL 23, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston J New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,613,392 1005,711 5,762,245 1121,752 1779,924 1188,944 817,008 3646,942 786,076 438,064 821,851 706,879 2537,996 Redemption fund for F. R. notes 847,607 54,483 175,089 58,250 76,967 74,306 47,594 154,227 42,550 21,842 40,924 27,964 73.411 Total gold certificate reserves 21,460,999 1060,194 5,937,334 1180,002 1856,891 1263,250 864,602 3801,169 828,626 459,906 862,775 734,843 2611,407 F.R. notes of other Banks 476,593 27,666 129,199 34,211 45,478 32,537 69,125 32,757 10,772 18,484 6,831 30,551 38,982 Other cash 433,833 31,922 85,388 29,029 40,034 27,247 32,373 67,011 22,208 10,641 14,617 16,869 56,494 Discounts and advances 242,055 8,385 17,050 5,175 9,865 13,950 7,600 123,204 10,350 3,200 15,998 17,753 9,525 Industrial loans 494 327 -• 148 — — -— 19 Acceptances— Bought outright 37,428 37,428 -- -- -- -- -- -- -- — — - — U. S. Govt, securities: Bought outright— Bills 968,610 52,740 244,253 55,679 85,746 63,049 49,285 169,197 39,514 20,376 41,343 37,941 109,487 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 Bonds 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 Total 23,703,972 1290,634 5,977,383 1362,599 2098,394 1542,939 1206,129 4140,610 966,980 498,660 1011,757 928,508 2679,379 Held under repurchase agreement Total U> S. Govt, sees. 23,703,972 1290,634 5,977,383 1362,599 2098,394 1542,939 1206,129 4140,610 966,980 498,660 1011,757 928,508 2679,379 Total loans & securities 23,983,949 1299,346 6,031,861 1367,922 2108,259 1556,889 1213,729 4263,814 977,330 501,879 1027,755 946,261 2688,904 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,921,914 367,425 881,860 305,812 433,927 390,197 430,268 779,707 201,663 128,121 258,160 302,005 442,769 Bank premises 86,423 4,906 10,649 4,424 9,779 6,872 7,574 7,419 6,4o8 5,357 4,918 6,714 11,403 Other assets 232.429 12.427 57.590 12.987 20.513 14.818 11.858 42.063 9.239 4.886 10.209 10.057 25.782 TOTAL ASSETS 51,596,155 2803,887 13,133,885 2934,388 4514,882 3291,811 2629,530 8993,942 2056,247 1129,274 2185,266 2047,301 5875,742 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

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OR APRIL 23, 1958 E.4.1(c) 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 26,374,828 1558,774 6,267,824 1654,481 2484,549 2052,831 1229,707 5119,502 1175,856 533,631 1043,986 711,199 2542,488 Deposits: Member bank reserves 18,555,468 789,239 5,319,500 856,370 1474,550 796,707 898,267 2946,281 640,137 424,774 835,821 924,418 2649,404 U.S.Treas.-gen.acct. 462,266 29,765 80,157 26,475 33,796 30,262 33,732 44,011 17,909 22,509 38,629 45,308 59,713 Foreign 227,423 12,768 1/66,591 15,456 19,936 11,424 10,080 32,032 8,288 5,376 8,736 11,648 25,088 Other 395,182 321 "329,463 10,236 850 3,108 1,153 527 4,003 327 686 1,100 43,408 Total deposits 19,640,339 832,093 5,795^711 908^537 1529,132 541 501 943,'232 3022,«51 670,337 452,986 803,072 982,474 2777,613 Deferred availability cash items 4,161,260 330,792 681,080 274,532 374,181 321,808 390,018 644,317 155,385 107,351 200,890 281,345 399,561 Other liabilities and 1,086 5,130 845 2,346 898 871 3,194 593 732 685 I.060 2.091 -accrued dividends 19,531 •TOTAL LIABILITIES 50,195,958 2722,745 12,749,745 2838,395 4390,208 3217,038 2563,828 8789,864 2002,171 1094,700 2129,433 197&,078 5721,753 CAPITAL ACCOUNTS Capital paid in 350,273 17,835 102,964 21,431 33,064 15,964 17,211 47,874 11,798 7,571 14,163 19,746 40,652 "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 213,183 13,283 49,894 14,150 19,054 14,224 11,537 33,271 10,171 6,233 10,000 9,299 22.067 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,596,155 2803,887 13,133,885 2934,388 4514,882 3291,811 2629,530 8993,942 2056,247 1129,274 2185,266 2047,301 5875,742 Conting. liab, on acceptances purchased for foreign correspondents 129,815 7,279 2/38,127 8,811 11,365 6,513 5,747 18,261 4,725 3,065 4,980 6,640 14,302 Industrial loan commit. l,UUf — • — — j„o ^ -L — — — — — -* — — — — ytKJ — — — — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,465,469 1637,030 6,601,321 1722,986 2503,456 2127,851 1286,259 5224,212 1221,739 549,318 1070,089 753,488 2687,720 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,058,000 700,000 3,270,000 640,000 1130,000 825,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 31,523 - — — 5,175 — -- -- -- 10,350 -— 15,998 -- —- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 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 TToottaall ccoollllaatteerraall 29,234,523 1850,000 6,870,000 1845,175 2730,000 2175,000 1425,000 5500,000 1315,350 580,000 1135,998 808,000 3000,000 Ju fni Utl VtA-VLViA -V JLLJ.0 v, y J v v ~ ~ x* 2/ After deducting $91,688,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis