H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM May 8, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AUD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of dally figures of member bank reserves for the week ending May 7 Increased $27 million to $18,276 million. Estimated required reserves decreased $3 million; and estimated excess reserves increased $30 million to $690 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $572 million, compared with $535 million the week before. The principal changes supplying average reserves were increases of $173 million in Federal Reserve holdings of U. S. Government securities and $31 million in Federal Reserve float, and a decrease of $68 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $l4l million in money in circulation and $52 million in foreign deposits with Federal Reserve Banks, and a decrease of $56 million in gold stock. Total Reserve Bank credit increased $197 million. As of Wednesday, May 7# holdings of U. S. Government securities bought outright were $171 million higher than a week earlier and member bank borrowings were $31 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 7, 1958 April 30, 19581 May 8, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,799 +187 +674 Held under repurchase agreement - 14 - 88 — Acceptances--bought outright 38 «. — + 14 Loans, discounts, and advances— Member bank borrowings 118 - 7 -849 Other * - 26 Float 808 + 31 -139 Total Reserve Bank credit 24,763 +197 -4i4 Gold stock 21,968 - 56 -350 Treasury currency outstanding 5,197 + 3 +102 51:928 +143 -662 Money in circulation 30,659 +141 + 70 Treasury cash holdings 738 + 5 - 57 Treasury deposits with F, R. Banks 533 - 68 + 29 Foreign deposits with F, R. Banks 287 + 52 - 79 Other deposits with F. R. Banks 386 - 11 +111 Other F. R. accounts (net) 1,049 - 2 - 29 33,652 +117 + 46 Member bank reserves— 18,276 + 27 -708 Required reserves (estimated) 17,586 - 3 -909 Excess reserves (estimated) 690 + 30 +201 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 21,9^7 Treasury cash holdings 742 Treasury currency outstanding 5,198 Member bank) - Required (est.) 17,573 Money in circulation 30,719 reserves ) - Excess (est.) 749 On May 7, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,132 million, an increase of $64 million for the week and a decrease of $521 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 (In thousands of dollars) Change since May 7, April 30, May ti, 1958 1958 1957 A SS E T S Gold certificate account 20,518,393 44,999 - 271,000 Redemption fund for F. R. notes 840,174 - 5,157 - 11,774 Total gold certificate reserves 21,358,567 - 50,156 - 282,774 F. R. notes of other Banks 391,338 - 49,760 + 18,513 Other cash 383,574 - 34,542 + 19,893 Discounts and advances 124,682 - 31,257 - 679,174 Industrial loans 509 + 6 237 Acceptances—"bought outright 38,902 + 1,486 + 15,205 U. S. Government securities: Bought outright- 1 Bills 1,116,310 + 170,600 + 730,505 Certificates 19,946,105 — +8,583,906, Notes — — -8,571,413 Bonds 2,789,257 -- - 12,493 Total bought outright 23,851,672 + 170,600 + 730,505 Held under repurchase agreement 59,000 Total U. S. Government securities 23,851,672 + 170,600 + 671,505 Total loans and securities 24,015,765 + 140,835 + 7,299 Due from foreign banks 15 - , 7 Uncollected cash items 4,450,567 - 388,721 - 49,132 Bank premises 86,782 + 214 + 10,112 Other assets 260,922 + 14,947 + 107,627 TOTAL ASSETS 50,947,530 - 367,183 - 168,439 L I A B I L I T I ES Federal Reserve notes ~~ 26,450,146 + 75,546 + 90,992 Deposits: Member bank reserves 18,322,196 + 68,249 - 456,769 U. S. Treasurer—general account 358,903 - 235,231 6,663 Foreign 287,502 + 30,710 - 65,228 Other 373,395 - 37,823 + 139,165 Total deposits 19,341,996 - 174,095 - 389,495 Deferred availability cash items 3,759,897 - 282,078 + 41,331 Other liabilities and accrued dividends 19,648 + 868 ± 1425 TOTAL LIABILITIES 49,571,687 - 379,432 - 256,304 C A P I T AL A C C O U N TS Capital paid in 350,463 86 + 18,748 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 188,639 + 12,163 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,947,530 - 367,183 - 16&439 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.6$ .1% Contingent liability on acceptances purchased for foreign correspondents 131,955 494 + 68,800 Industrial loan commitments 992 6 8% MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 7, 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 123,131 145 12,160 287,050 16 days to 90 days 1,544 183 26,742 7,410,807 91 days to 1 year 7 81 13,703,654 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 124,682 509 38,902 23,851,672 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENTC OF C0NDIT[]O N OF EACH FEDERAL RESERVE BAHEC ON IbA Y 7, 19!> 8 H,4.1(b) Total Boston New York P d h e i l l p a h - ia "e la vr n d R 1 ic hmond Atlanta Chicago L S o t ui . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Francisco A S S E TS Gold certificate account 20,518,393 1011,491 5,674,866 1151,398 1752,404 1187,752 805,237 3731,844 805,662 435,919 809,813 716,116 2435,891 Red F e . m p R t . i o n n o t f e u s n d for 840,174 54,302 174,572 58,016 76,734 73,753 47,483 148,973 42,486 21,807 40,874 27,925 73,249 To r t e a s l e r g v o e l s d certificate 21,358,567 1065,793 5,849,438 1209,414 1829,138 1261,505 852,720 3880,817 848,148 457,726 850,687 744,041 2509,140 F O . t R h . e r n o c t a e s s h of other Banks 3 3 9 8 1 3 , , 3 5 3 7 8 4 1 29 8 , , 6 6 2 7 5 2 1 7 09 4 , , 0 1 6 3 3 4 2 2 8 7 , , 3 9 5 5 2 2 4 3 0 6 , , 6 8 0 8 1 9 2 2 4 3 , , 1 7 5 3 0 3 2 5 7 9 , , 9 2 2 4 1 6 2 5 7 8, , 3 3 1 2 9 5 1 7 8, , 9 6 8 0 3 8 1 1 4 0 , , 2 0 5 3 5 2 10 5 , ,2 8 7 l 3 4 3 1 0 6 , , 5 6 4 2 9 4 2 4 6 8 , , 2 5 4 4 4 8 Discounts and advances 124,682 13,035 8,475 3,275 7,185 12,800 14,050 24,691 7,730 2,848 21,718 6,050 2,825 19 Industrial loans 509 327 163 Acceptances— Bought outright 38,902 - - 38,902 -- -- - - U. S. Govt, securities: Bo B u C g i e h l r l t ti s f o i u c t a r t i e g s h t— 19 1 , , 9 1 4 1 6 6 , , 1 3 0 1 5 0 10 6 8 0 6 , , 7 0 8 25 2 5, 2 0 8 2 1 9 , , 4 7 9 6 8 9 1 6 1 4 4 , 6 1 , 6 5 9 8 2 17 9 6 8 5 , , 8 7 2 2 1 9 7 1 2 2 , 9 6 8 6 ,3 3 3 2 101 5 4 6 , ,8 9 0 1 1 8 1 3 9 4 4 8 , 4, 9 1 9 8 7 6 8 4 1 5 3, , 6 5 8 3 1 9 4 2 1 3 9, , 6 4 0 8 6 4 8 4 5 7 1 , , 6 3 4 6 7 0 78 4 1 3 , , 3 7 0 27 9 1 2 2 2 6 5 , 4 1 , 8 6 2 0 8 N B o o t n T d e o s t s a l 23 2 c. , ,y 0 7 I 5 8j 1 9 * , , —y 6 2 7 5 2 7 1 1 1 29 5 0 1 , , 6 8 7 6 6 9 ""6", 7 " 0 < 3 31 . 4 3 ,6 6 2 1 8 1 1 3 6 7 0 1 , , 3 0 3 8 8 9 2 2 1 4 1 6 1 , , 9 4 1 5 9 9 1 1 5 8 5 1 2 , , 5 5 5 5 8 3 1 1 2 4 1 1 3 , , 9 6 2 4 6 5 4 4 1 8 6 7 6 , , 2 4 2 1 7 0 9 1 7 1 3 3 , , 0 7 0 8 5 5 5 5 0 8 1 , , 6 76 7 0 8 1 1 0 1 1 9 0 , , 0 0 5 5 4 1 1 9 0 3 9 4 , , 2 2 5 9 8 4 3 2 1 6 5 9 , 6 2 , 8 0 4 7 4 Held under repurchase agreement 501.768 1018,061 914.294 2696,074 1298.676 6,014.628 1371,089 2111,469 1552.5^3 1213,645. 4l66,4l0_ 973,00^ Total U. S. Govt, sees. 21.851.672 504,635 1039,779 940,344 2698,899 1312,038 6,062,005 1374,527 2118,654 1565,353 1227,695 4191,101 980,735 Total loans & securities 24,015,765 D B O U u a n t e c n h o e k l f r l r p e o r a c m e s t s m e f e i d o t s r e s c e s a i s g h n i b t a e n m k s s 4,4 2 5 8 6 0 6 0 , , , 5 7 9 1 6 2 8 5 7 2 2 3 1 5 4 3 0 , , , 8 2 9 7 0 8 1 2 7 1 78 1 6 8 0 4 1 , 7 , 6 4 2 / 3 8 5 4 6 4 5 1 1 2 4 4 8 , , 7 4 7 , 2 4 9 4 2 1 2 1 3 2 9 7 3 , 7 , 8 , 2 6 5 3 0 3 5 0 1 3 1 6 5 6 , 7 , 8 , 7 5 7 2 9 0 0 6 1 3 1 7 8 3 , 8 , 6 , 3 6 5 1 0 5 4 9 2 6 4 7 8 7 , 6 , 5 , 2 5 9 3 4 5 3 4 19 1 6 7 0 , , , 0 5 3 6 1 9 1 3 9 9 124 5 5 , , , 2 7 3 4 9 3 / 5 7 5 4 1 2 1 4 3 1 , 0 , 9 , 4 0 4 0 1 3 2 4 20 1 8 6 0 , , , 0 7 9 0 7 2 1 7 5 0 1 4 1 2 1 5 9 , 3 , 3 , 0 6 5 1 4 9 0 0 2795,189 12,958,019 2947,333 4435,908 3256,027 2577,116 8899,305 2069,456 1122,234 2152,931 1957,261 5f?6,751 TOTAL ASSETS 50,947,530 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2it/iz edL feors FsR AtShEaR 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 MAY 7, 1958 Total Boston New York Richmond Atlanta Chicago J ^s %% ^ Dallas (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,450,146 1564,373 6,286,329 1655,147 2485,319 2050,199 1237,544 5118,916 1178,368 537,140 1051,180 711,455 2574,176 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,322,196 786,898 5,253,292 890,055 1439,423 788,184 902,424 2912,689 648,148 414,873 813,502 948,226 2524,482 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 358,903 22,499 33,408 16,861 30,063 32,549 22,239 42,355 22,202 24,010 30,285 27,387 55,045 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 287,502 15,789 1/88,616 19,113 24,653 14,127 12,465 39,611 10,249 6,648 10,803 l4,4o4 31,024 OOOOOttttthhhhheeeeerrrrr 373,395 368 312,456 9,783 899 3,527 1,579 650 1,050 397 1,216 1,436 40,034 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,341,996 825,554 5,687,772 935,812 1495,038 838,387 938,707 2995,305 681,649 445,928 855,806 991,453 2650,585 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,759,897 324,231 600,995 260,843 330,391 293,168 335,573 582,091 155,696 104,147 190,347 183,217 399,198 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 19,648 1,170 5,015 986 2,595 961 861 3,193 664 970 722 869 1,642 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,571,657 2715,320 12,500,111 2052,700 4313,343 3102,715 2512,605 0699,505 2016,377 1000,105 2090,055 1006,994 5625,601 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 350,463 17,843 102,978 21,462 33,072 15,973 17,234 47,918 11,802 7,580 14,201 19,748 40,652 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 188,639 11,994 43*648 12,671 16,937 12,754 10,243 28,949 9.170 5.699 9.005 8.341 19.228 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 50,947,5301 2795,189 12,958,019 2947,333 4435.908 3256,027 2577.116 8899.305 2069.456 1122.234 2152.931 1957,261 5776.751 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 131,955 7,524 2/37,179 9,108 11,748 6,732 5,940 18,876 4,884 3,168 5,148 6,864 14,784 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 992 1 51 — — —— — — — — — — 9)|0 •• * — IBM FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,443,559 1630,737 6,607,751 1716,574 2500,394 2121,360 1294,182 5208,646 1215,650 549,182 1073,639 755,128 2682,308 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,058,000 700,000 3,270,000 640,000 1130,000 825,000 425,000 24oo,ooo 430,000 155,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 32,723 -— - - 3,275 -- -- -*• -- 7,730 -- 21,718 -- -— 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 29,235,723 1050,000 6,070,000 1043,275 2730,000 2175,000 1425,000 5500,000 1312,730 580,000 1141,718 808,000 3000,000 l/ After deducting $198,886,000 participations of other Federal Reserve Banks* 2/ After deducting $94,776,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis