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 15, 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 May 14 decreased $86 million to $18,190 million. Estimated required reserves decreased $116 million; and estimated excess reserves increased $30 million to $720 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $597 million, compared with $572 million the week before. The principal changes reducing average reserves were decreases of $82 million in gold stock and $48 million in Federal Reserve float, and an increase of $153 million in money in circulation. The principal offsetting changes were an increase of $132 million in U. S. Government securities bought outright and a decrease of $63 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $91 million. As of Wednesday, May 14, holdings of U# S. Government securities bought outright were $85 million higher than a week earlier and member bank borrowings were $9 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 14, 1958 May 7» 1958 1 May 15, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,931 +132 +898 Held under repurchase agreement -- ~ — - 50 Acceptances—bought outright 40 + 2 + 16 Loans, discounts, and advances— Member bank borrowings 123 + 5 -826 Other * -- - 27 Float 760 - 48 -188 Total Reserve Bank credit 24,854 + 91 -177 Gold stock 21,886 - 82 -433 Treasury currency outstanding 5,199 + 2 +103 51,939 + 11 -507 Money in circulation 30,812 +153 4-158 Treasury cash holdings 741 + 3 - 46 Treasury deposits with F. R. Banks 470 - 63 - 9 Foreign deposits with F. R. Banks 294 + 7 - 72 Other deposits with F. R. Banks 386 — «• +145 Other F. R. accounts(net) 1,046 - 3 - 29 33,750 +149 Member bank reserves-- 18,190 - 86 -655 Required reserves (estimated) 17,470 -ll6 -898 Excess reserves (estimated) 720 + 30 +243 * 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 21,873 Treasury cash holdings 747 Treasury currency outstanding 5,200 Member bank) - Required (est.) 17,467 Money in circulation 30,807 reserves ) - Excess (est.) 713 On May 14, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,096 million, a decrease of $36 million for the week and a decrease of $521 million from the comparable date Digitaiz edy feora FrR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.It.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 14, May 7, May 15, 1958 1958 1957 A S S E TS Gold certificate account 20,443,391 75,002 346,001 Redemption fund for F., R. notes 835,931 - 4,243 - 11,114 Total gold certificate reserves 21,279,322 ~ 79,245 - 357,115 F. R. notes of other Banks 373,538 - 17,800 + 12,004 Other cash 365,137 - 18,437 + 2,909 Discounts and advances 115,650 - 9,032 - 575,600 Industrial loans 504 - 5 - 270 Acceptances—bought outright 39,731 + 829 + 18,999 U. S. Government securities: Bought outright— Bills 1,201,310 + 85,000 + 928,355 Certificates 19,946,105 — +8, 583,906 Notes -- -8,571,413 Bonds 2,789,257 -- - 12,493 Total bought outright 23,936,672 + 85,000 + 928,355 Held under repurchase agreement Total U. S. Government securities 23,936,672 + 85,000 + 928,355 Total loans and securities 24,092,557 + 76,792 + 371,484 Due from foreign banks 15 -- - 7 Uncollected cash items 5,400,503 + 949,936 - 481,072 Bank premises 87,180 + 398 + 10,315 Other assets 275,779 + 14,857 + 110,105 TOTAL ASSETS 51,874,031 + 926,501 331,377 L I A B I L I T I ES Federal Reserve note¥ ~* 26,499,804 + 49,658 + 126,136 Deposits: Member bank reserves 18,179,995 — 142,201 - 588,701 U, S. Treasurer--general account 427,178 + 68,275 + 61,578 Foreign 307,868 + 20,366 - 34,751 Other 399,799 + 26,404 + 157,838 Total deposits 19,314,840 - 27,156 - 404,036 Deferred availability cash items 4,651,919 + 892,022 - 144,236 Other liabilities and accrued dividends 19,450 - 198 + 1,387 TOTAL LIABILITIES 50,486,013 + 914,326 - 420,749: C A P I T AL A C C O U N TS Capital paid in 350,561 + 98 + 18,716 Surplus (Section 7) 809,198 mmmm + 61,605 Surplus (Section 13b) 27,543 mm - — Other capital accounts 200,716 + 12,077 + 9,051 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,874,031 + 926,501 — 331,377 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.4$ - .2# - .5# Contingent liability on acceptances purchased for foreign correspondents 135,155 + 3,200 + 73,293 Industrial loan commitments 997 + 5 - 79? MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 14, 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 114,178 303 14,889 339,400 16 days to 90 days 1,465 20 24,842 7,443,457 91 days to 1 year 7 81 13,725,344 Over 1 year to 5 years 100 1,013,614 Over 5 years to 10 years 56,610 Over 10 years 1,358,247 Digitized for FR T A o S t E a R l 115,650 w 39,731 23,936,672 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON 4AY 14, 1958 Total Boston New York P d h e i l l p a hi - a Cl l e an ve d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n it sa y s Dallas Fran S c a i n s co (In thousands of dollars) A S S E TS Gold certificate account 20,443,391 1012,744 5,582,225 1111,562 1742,760 1182,737 830,790 3736,151 830,455 438,010 823,420 699,120 2453,417 Redemption fund for F. R. notes 835,931 54,075 173,552 57,631 76,378 72,560 47,311 148,594 42,365 21,758 40,791 27,864 73.052 Total gold certificate reserves 21,279,322 1066,819 5,755,777 1169,193 1819,138 1255,297 878,101 3884,745 872,820 459,768 864,211 726,984 2526,469 F.R. notes of other Banks 373,538 18,334 105,539 25,101 36,552 22,745 53,021 25,637 9,680 13,920 6,603 26,294 30,112 Other cash 365,137 26,367 72,086 26,423 37,398 22,398 26,749 52,198 18,172 9,477 10,711 16,701 46,457 Discounts and advances 115,650 13,935 4,950 3,955 6,175 11,600 10,400 19,811 2,300 11,048 21,926 5,750 3,800 Industrial loans 504 327 158 19 Acceptances-- Bought outright 39,731 39,731 U. S« Govt, securities: Bought outright— -Bills 1,201,310 65,410 302,933 69,055 106,346 78,196 61,126 209,845 49,006 25,272 51,275 47,056 135,790 Certificates 19,946,105 1086,025 5,029,769 1146,582 1765,729 1298,332 1014,918 3484,186 813,681 4l9,6c6 851,360 781*309 2254,608 Botes 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 23,936,672 1303,304 6,036,063 1375,'975 2110,994 1558,086 1217,970 4181,258 976,472 503,556 1021,689 937,623 2705,682' Held under repurchase agreement Total U. S. Govt, sees. 23,936,672 1303,304 6,036,063 1375,975 2118,994 1558,086 1217,970 4181,258 976,472 503,556 1021,689 937,623 2705,682 Total loans & securities 24,092,557 1317,566 6,080,744 1380,088 2125,169 1569,686 1228,370 4201,069 978,772 514,623 1043,615 943,373 2709,482 Due from foreign banks 15 1 1 / 4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,400,503 405,962 938,014 342,165 479,311 433,773 484,060 876,253 220,631 144,160 290,403 268,984 516,787 Bank premises 87,180 4,872 10,638 4,424 9,860 6,860 7,660 7,934 6,520 5,354 4,901 6,788 11,369 Other assets 275,779 14,858 68,140 15,542 24,141 17,803 14,071 50,119 10,997 5,747 12,075 11,564 30,722 TOTAL ASSETS 51,874,03l|2854,779 13,030,942 2962,937 4531,570 3328,563 2692,033 9097,957 2117,593 1153,049 2232,520 2000,689 5871,399 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 RESERVE BANK ON MAY 14, 1958 Phila- Cleve- Minne- Kansas San Total Boston I New York RRiicchhmmoonndd Atlanta Chicago Dallas delphia land Louis apolis City "Franc-iacq L I A B I L I T I ES Federal Reserve notes 26,499,804 1565,973 6,306,611 1656,532 2486,408 2050,274 1238,123 5119,711 1177,460 538,400 1050,690 710,876 2598,746 Deposits: Member tank reserves 18,179,995 779,504 5,121,629 856,894 1442,848 785,712 913,652 2897,315 668,896 416,481 826,089 919,739 2551,236 U.S.Treas.-gen.acct. 427,178 25,399 47,409 27,354 30,994 29,449 39,640 62,187 22,246 28,334 39,844 36,564 37,758 Foreign 307,868 18,4ll 1/ 75,954 22,287 28,747 16,473 14,535 46,189 11,951 7,752 12,597 16,796 36,176 Other 399,799 651. 340.780 9.214 991-.. 3,130 3.172 1.408 22Z_ iQ2_ 834 1.427 T7.5-0 Total deposits 19,314,840 823,968 5,585,772 915,749 1503,580 834,764 970,999 3007,099 703,370 452,969 879,364 974,526 2662,680 Deferred availability cash items 4,651,919 383,189 752,714 294,502 415,747 368,351 416,956 766,086 182,454 126,635 246,282 243,559 455,444 Other liabilities and accrued dividends 19,450 1,137 4,850 ,._904_ _2j,2l6_ 1,100 924 3,031 769 Ik2- 807 1,015 1,928 TOTAL LIABILITIES 50,486,013 2774,267 12,649,947 2867,687 4407,951 3254,489 2627,002 8895,927 2064,053 1118,773 2177,143 1929,976 5718,798 CAPITAL ACCOUNTS Capital paid in 350,561 17,867 102,990 21.46? 33,071 15,978 17,24l 47,946 11,810 7,590 14,201 19,748 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 200,716 12,621. 46.723 ,13*371- J.7^992, JL3.,J1L, J-Q, 836 31*15] $j£3 5Qi6 Q, 506 8.787 20,679 r TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,874,031 2854.779 13,030,942 2962,937 4531.,570.3.3.28,,^3^26^ mLQQQ7.957,2117.5ll^.nbQ PP^P.SPO PQOO.68Q s87].iQQ J Conting. liab. on acceptances purchased for foreign correspondents 135,155 7,706 2/ 38,082 9,329 12,033 6,895 6,084 19,334 5,002 3,245 5,273 7,030 15,142 Industrial loan commit. 997 6 51 - — 940 - - — - FEDERAL RESERVE AGENTS' ACCOUNTS FF ** RR.. nnootteess oouuttssttaannddiinngg 27,457,757 1632,929 6,585,308 1719,327 2570,487 2122,629 1293,083 5215,460 1221,957 552,506 1079,019 751,697 2713,355 CCoollll&&tt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee eecccctt.. 12,058,00c 700,000 3,270,000 640,000 1130,000 825,000 425,000 24-00,000 430,000 155,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 28,15s 3,9>5 ~~ — — -- 2,300 -- 21,904 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,045,00c 1150,000 3,600,000 1200,000 1600,000 1350,000 1000.000 3000,000 875,000 425,000 820,000 525.000 1500,000 TToottaall ccoollllaatteerraall 29,131,159 1850,000 6,870,000 1843,955 2730,000 2175.000 1425.000 5400,000 1307.300 580.000 1141.904 SOB.OOO 1000.000 l/ After deducting $231,91^-, 000 participations of other Federal Reserve Banks. 2/ After deducting $97^073^ 000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis