H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release a.4.i OF THE FEDERAL RESERVE SYSTEM May 1, 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 30 decreased $405 millio nto $18,24-9 million. Estimated required reserves decreased $347 million; and estimated excess reserves decreased $58 million to $657 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $532 million, compared with $603 millio nthe week before. The principal changes reducing average reserves were decreases of $213 million in Federal Reserve float, $86 million in Federal Reserve holdings of U, S. Government securities, and $57 million in gold stock, and an increase of $184 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $99 million in money in circulation and $51 million in "other" F. R. account s(net). Total Reserve Bank credit decreased $288 million. As of Wednesday, April 30, holdings of U. S. Government securities bought outright were $23 million lower than a week earlier and member bank borrowings were $86 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items April 30, 1958 April 23, 19581 May 1, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,612 - 92 + 443 Held under repurchase agreement 14 + 6 + 14 Acceptances--bought outright 38 - 1 + 13 Loans, discounts, and advances— Member bank borrowings 125 + 13 - 579 Other * - 27 Float 777 -213 - 391 Total Reserve Bank credit 24,566 -288 - 527 Gold stock 22,024 - 57 - 294 Treasury currency outstanding 5,194 4- 1 + 100 51,785 -3^3 - 719 Money in circulation 30,518 - 99 + 19 Treasury cash holdings 733 + 12 60 Treasury deposits with F. R. Banks 601 +184 + 182 Foreign deposits with F. R. Banks 235 - 7 - 117 Other deposits with F. R. Banks 397 + 21 + 106 Other F. R, accounts (net) 1,051 - 51 - 97 33,535 + 61 + 31 Member bank reserves-- 18,249 -405 - 751 Required reserves (estimated) 17,592 -347 -1,029 Excess reserves (estimated) 657 - 58 + 278 * 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 21,996 Treasury cash holdings ^45 Treasury currency outstanding 5,197 Member bank) - Required (est.) 17,621 Money in circulation 30,555 reserves ) - Excess (est.) 533 On April 30, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,068 million, a decrease of $84 million for the week and a decrease of $619 million from the comparable Digitizedda fotr eF RAaS EyRe ar ago. http://fraser.stlouisfed.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 April 30, April 23, May 1, 1958 1958 1957 A S S E TS Gold certificate account 20,563,392 50,000 216,001 Redemption fund for F. R. notes 845,331 2,276 - 10,103 Total gold certificate reserves 21,408,723 - 52,276 - 226,104 F. R. notes of other Banks 441,098 - 35,495 + 42,876 Other cash 418,116 - 15,717 + 25,167 Discounts and advances 155,939 - 86,116 - 939,551 Industrial loans 503 + 9 - 271 Acceptances—bought outright 37,416 12 + 13,681 U. S. Government securities: Bought outright— Bills 945,710 - 22,900 + 511,605 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 23,681,072 - 22,900 + 511,605 Held under repurchase agreement Total U. S. Government securities 23,681,072 22,900 + 511,605 Total loans and securities 23,874,930 - 109,019 - 414,536 Due from foreign banks 15 7 - 82,626 Uncollected cash items 4,839,288 - 372,085 Bank premises 86,568 + 145 + 10,030 Other assets 245,975 + 13,546 + 105,962 TOTAL ASSETS 51,314,713 - 281,442 - 828,697 L I A B I L I T I ES Federal Reserve notes 26,374,600 228 + 47,468 Deposits: Member bank reserves 18,253,947 - 301,521 - 868,670 U. S. Treasurer--general account 594,134 + 131,868 4,374 Foreign 256,792 + 29,369 54,646 Other 411,218 + 16,036 + 117,910 Total deposits 19,516,091 - i24;24ti - 809,780 - 119,285 Deferred availability cash items 4,041,975 - 153,943 1,078 Other liabilities and accrued dividends 18,453 + 552 TOTAL LIABILITIES 49,951,119 - 244,639 - 915,703 C A P I T AL A C C O U N TS + 18,863 Capital paid in 350,377 104 809,198 + 61,605 Surplus (Section 7) Surplus (Section 13b) 27,543 Other capital accounts 176,476 - 36,707 + 6,538 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,314,713 - 281,442 - 828,697 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.7% + • X70 + Contingent liability on acceptances purchased for foreign correspondents 131,461 + 1,646 + 67,325 Industrial loan commitments 998 9 800 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. APRIL 30. 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 153,410 W 10,530 262,350 16 days to 90 days 2,515 177 26,886 683,360 91 days to 1 year 14 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 155,939 503 37,416 23,681,072 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF COKDIT][ ON OF EACH FEDERAL RESERVE BANK ON APRIL 30, 1958 Phila- St. Minne- Kansas San Total Boston New York "1^!* IRichmond Atlanta Chicago Dallas delphia land | Louis apolis City Francisco (In thousands of dollars) A S S E TS 986,582 425,658 Gold certificate account 20,563,392 5,708,594 1105,012 1733,644 1147,337 814,679 3774,245 820,749 841,372 746,647 2458,873 Redemption fund for 21,812 F. R- notes 845,331 54,335 174,582 58,022 76,743 73,759 47,492 153,987 42,490 40,878 27,931 73,300 Total gold certificate 5,883,176 1163,034 1221,096 447,470 882,250 reserves 21,408,723 1040,917 1810,387 862,171 3928,232 863,239 774,578 2532,173 F.R. notes of other Banks 441,098 25,352 116,927 31,335 45,466 29,905 66,196 32,015 8,890 18,483 4,944 30,748 30,837 Other cash 418,116 31,544 81,892 28,408 40,610 24,127 30,433 63,045 20,752 10,019 13,164 18,132 55,990 18,085 6,100 Discounts and advances 155,939 20,350 14,550 5,785 12,865 19,600 20,941 6,950 17,888 9,500 3,325 Industrial loans 503 327 157 -- 19 "Acceptance s— jBought -outright 37,416 37)^16 -- -- -- »«• — — — — Us S. Govt, securities: -Boug&fc outright— "Bills 945,710 51,493 238,478 54,363 83,719 61,558 48,120 165,197 38,580 19,895 40,365 37,044 106,898 813,681 419,606 851,360 2254,608 Certificates 19,946,105 1086,025 5,029,769 1146,582 1765,729 1298,332 1014,918 3484,186 781,309 Notes 151,869 58,678 109,258 Bonds 2,789,257 703,361 160,338 246,919 181,558 141,926 487,227 113,785 119,054 315,284 Total 23,681,072 1289,387 5,971,608 1361,283 2096,367 1541,448 1204,964 4136,610 966,046 498,179 1010,779 927,611 2676,790 Held under repurchase agreement 5,971,608 1361,283 Total U. S. Govt, sees. 23,681,072 1289,387 2096,367 1541,448 1204,964 4136,610 966,046 498,179 1010,779 927,611 2676,790 Total loans & securities 23,874,930 1307,799 6,029,374 1375,990 2102,152 1554,313 1224,564 4157,551 972,146 505,148 1028,667 937,111 2680,115 "Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 4,839,288 343,247 904,197 316,581 439,258 383,636 422,314 781,997 189,999 120,778 237,251 252,141 447,889 86,568 Bank premises 4,872 10,633 4,424 9,783 6,860 7,657 7,404 6,519 5,354 4,918 6,775 11,369 Other assets 245,975 13,297 60,$44 13,889 21,913 15,782 12,551 44,590 9,819 5,104 10,841 10,346 27,299 2625,887 2182,036 TOTAL ASSETS 51,314,713 2767,029 13,086,747 2933,662 4469,570 3235,720 9014,836 2071,365 1112,356 2029,832 5785,673 1/ After deducting $11,000 participations of other Federal Reserve Banks 7 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 APRIL 30,1 958 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 26,374,600 1557,353 6,274,452 1651,885 2479,804 2052,984 1231,559 5112,903 1176,190 534,031 1046,020 709,350 2548,069 Deposits: Member bank reserves 18,253,947 764,846 5,247,077 858,531 1432,479 741,838 896,372 2909,596 643,917 397,921 822,912 964,848 2573,610 U.S.Treas.-gen, acct- 594,134 34,880 74,531 35,416 34,736 40,525 48,020 87,386 36,117 35,502 56,948 51,075 58,998 Foreign 256,792 14,364 1/75,856 17,388 22,428 12,852 11,340 36,036 9,324 6,048 9,828 13,104 28,224 Other 411,218 530 355,074 11,545 1,057 3,241 1,253 597 1,716 346 558 1,600 33.701 Total deposits 19,516,091 "814,620 5,752,538 922,880 1490,700 798,456" 956,985 3033,615 691,074 439,817 890,246 1030,627 2694,533 Deferred availability cash items 4,041,975 314,746 680,507 264,165 375,045 310,981 372,546 667,660 150,855 103,995 190,822 219,284 391,369 Other liabilities and accrued dividends 18,453 1,077 4,46l 886 2,515 773 962 3,c6l 626 684 655 760 1.993 TOTAL LIABILITIES 49,951,119 2687,796 12,711,958 2839,816 4348,064 3163,194 2562,052 8817,239 2018,745 1078,527 2127,743 1960,021 5635,964 CAPITAL ACCOUNTS Capital paid in 350,377 17,840 102,974 21,463 33,066 15,968 17,214 47,913 11,799 7,572 14,171 19,746 40,651 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,l4o Other capital accounts 176,476 11,369 40,533 11,971 15,884 11,973 9.667 26.751 8.714 5.487 8.452 7.887 17.788 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,314,713 2767,029 13,086,747 2933,662 4469,570 3235,720 2625,887 9014,836 2071.365 1112.356 2182.036 2029.832 5785.673 Conting. liab. on acceptances purchased for foreign correspondents 131,461 7,495 2/37,044 9,073 11,703 6,706 5,918 18,805 4,866 3,156 5,129 6,838 14,728 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,432,587 1636,918 6,581,002 1721,637 2583,596 2121,128 1297,649 5208,355 1221,492 549,610 1072,869 754,026 2684,305 CCoollllaatt.. ffoorr FF.. BB.. 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 38,538 —— — — 14,550 — *•— — — —— 6,100 '— 17,888 — — —— 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 29,241,538 1850,000 6,070,000 1054,550 2730,000 2175,000 1425,000 5500,000 1311,100 580,000 1137,888 808,000 3000,000 r r of other Federal Reserve Banks, 2/ After deducting $94,417,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis