H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD 0# tiOVERNORS For Immediate Release H.U.I OP THE FEDERAL RESERVE SYSTEM May 22, 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 21 increased $58 million to $18,248 million. Estimated required reserves increased $39 million; and estimated excess reserves increased $19 million to $648 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $544 million, compared with $506 million the week before. The principal change supplying average reserves was an increase of $234 million in Federal Reserve float. The principal offsetting changes were decreases of $107 million in gold stock, $55 million in U. S. Government securities bought outright, and $19 million in member ban kborrowings. Total Reserve Bank credit increased $162 million. As of Wednesday, May 21, holdings of U. S. Government securities bought outright were $7 million higher than a week earlier and member bank borrowings were $30 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 21, 1958 May 14, 1958 I May 22, 1957 (In millions of dollars Reserve Bank credit: Ui S. Government securities-- Bought outright—System account 23,876 - 55 +961 Held under repurchase agreement Acceptances—bought outright 41 + 1 + 21 Loans, discounts, and advances-- Member bank borrowings 104 - 19 -668 Other * - 21 Float 994 +234 -347 Total Reserve Bank credit 25,016 332 T-5S Gold stock 21,779 -107 -541 Treasury currency outstanding 5,200 7+ 1- % +102 51,995 ^93 Money in circulation 30,822 + 10 +177 Treasury cash holdings 732 - 9 - 58 Treasury deposits with F. R. Banks 459 - 11 - 66 Foreign deposits with F. R. Banks 309 + 15 - 53 Other deposits with F. R. Banks 381 - 5 +108 Other F. R. accounts(net) 1,043 - 3 - 31 33,747 - 3 + 78 Member bank reserves-- 18,248 + 58 -570 Required reserves (estimated) 17,600 + 39 Excess reserves (estimated) 648 + 19 +114 * Lees 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 21,743 Treasury cash holdings 724 Treasury currency outstanding 5,200 Member bank) - Required (est.) 17,594 Money in circulation 30,755 reserves ) - Excess (est,) 539 On May 21, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,068 million, a decrease of $28 million for the week and a decrease of $594 million from the comparable Digitized for FRASER date a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STAT&fa OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 21, May 14, May 22, 1958 1958 1957 A S S E TS Gold certificate account 20,323,393 - 119,998 - 466,000 Redemption fund for F. R. notes 833,505 2,426 - ,11,177 Total gold certificate reserves 21,156,898 - 122,424 - 477,177 F. R. notes of other Banks 378,842 + 5,304 + 10,701 Other cash 365,138 + 1 + 8,298 Discounts and advances 85,806 - 29,844 - 583,536 Industrial loans 483 -21 251 Acceptances—bought outright 39,759 + 28 + 20,039 U. S. Government securities: Bought outright— Bills 1,207,860 6,550 +1,047,760 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds Total bought outright 23,943,222 + 6,550 +1,047,760 Held under repurchase agreement Total U. S. Government securities 23,943,222 + 6,550 +1,047,760 Total loans and securities 24,069,270 - 23,287 + 484,012 Due from foreign banks 15 7 Uncollected cash items 5,001,236 - 399,267 - 238,363 Bank premises 87,292 + 112 + 10,059 Other assets 289,894 + 14,115 + 111,183 TOTAL ASSETS 51,348,585 - 5257^5 - 91,294 L I A B I L I T I ES Federal Reserve notes ~~ 26,436,591 63,213 + 122,820 Deposits: Member bank reserves 18,133,022 - 46,973 - 360,483 U. S. Treasurer--general account 434,603 + 7,425 - 83,017 Foreign 311,197 + 3,329 - 42,010 Other 385,971 - 13,828 + 102,645 Total deposits 19,264,793 - 50,047 - 382,865 Deferred availability cash items 4,226,300 - 425,619 + 76,698 Other liabilities and accrued dividends 20,668 + 1,218 + 1,474 TOTAL LIABILITIES 49,948,352 - 537,661 - 181,873 C A P I T AL A C C O U N TS Capital paid in 350,925 364 + 18,894 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 212,567 + 11,851 10,080 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,348,585 - 525,446 91,294 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.$ .lfo Contingent liability on acceptances purchased for foreign correspondents 125,719 9,436 + 64,663 Industrial loan commitments 1,017 20 - 817 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 21, 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 83,597 282 15,108 344,2^0 16 days to 90 days 2,202 29 24,651 7,445,147 91 days to 1 year 7 77 13,725,344 Over 1 year to 5 years 95 1,013,614 Over 5 years to 10 years 56,610 Over 10 years m 1,358,247 Total 85,806 39,759 23,943,222 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF C0NDIT]CO W OF EACH FEDERA] RESERVE BANK ON MAT 21, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston Hew York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,323,393 1000,000 5,492,540 1134,249 1742,143 1149,194 808,952 3726,032 816,893 417,765 847,261 739,710 2448,654 Redemption fund for F. R. notes 833,505 53,960 173,004 57,427 76,163 71,900 47,209 148,363 42,289 21,719 40,735 27,822 72,914 Total gold certificate reserves 21,156,898 1053,960 5,665,544 1191,676 1818,306 1221,094 856,161 3874,395 859,182 439,484 887,996 767,532 2521,568 F.R. notes of other Banks 378,842 21,991 101,482 26,120 37,031 21,319 54,759 25,268 11,467 13,241 6,734 26,221 33,209 Other cash 365,138 26,882 71,502 25,628 35,154 22,199 29,895 52,165 18,628 9,480 10,892 15,695 47,018 Discounts and advances 85,806 7,730 3,250 3,950 2,575 7,695 7,600 11,983 4,650 6,922 18,951 8,000 2,500 Industrial loans 483 327 138 18 Acceptances— Bought outright 39,759 -- 39,759 -- -- -- -- - — -- " -tn. Su Oovt. securities: Bought outright— 1 Bills 1,207,860 65,767 304,584 69,432 106,926 78,622 61,459 210,989 49,274 25,410 51,554 47,313 136,530 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 Hotes 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 23,9^3,222 1303,661 6,037,714 1376,352 2119,57 41558,512 1218,303 4182,402 976,740 503,694 1021,968 937,880 2706,422 Held under repurchase agreement Total U. S. Govt, sees. 23,943,222 1303.661 6.037.714 1376.352 2119.574 1558,512 1218,303 4182,402 976,740 503,694 1021,968 937,880 2706,422 Total loans & securities 24,069,270 1311,718 6,080,723 1380,440 2122,149 1566,207 1225,903 4194,385 981,390 510,634 1040,919 945,880 2708,922 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,001,236 373,750 9357438 311,698 447,742 400,686 403,952 799,920 204,800 126,503 261,927 251,820 483,000 Bank premises 87,292 4,872 10,676 4,424 9,827 6,859 7,775 7,934 6,524 5,354 4,904 6,818 11,325 Other assets 289,894 15,571 71,979 16,379 25,626 18,615 14,790 51,832 11,603 6,084 12,699 12,324 32,392 TOTAL ASSETS 51,348,585 2808,745 12,937,348 2956,366 4495,836 3256,980 2593,236 9005,901 2093,595 1110,780 2226,072 2026,291 5837,435 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 OK MAY 21, 1958 Phila- Cleve- St. Minne- Kansas San TToottaall Boston New York RRiicchhmmoonndd AAttllaannttaa CChhiiccaaggoo DDaallllaass delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,436,591 1565,466 6,301,019 1655,035 2482,093 2038,269 1231,230 5114,755 1173,186 538,819 1048,488 710,342 2577,889 Deposits: Member bank reserves 1188,,113333,,002222 776655,,772200 55,,009977,,776699 874,954 1441,297 756,543 895,740 2897,326 657,331 399,211 852,082 968,381 2526,668 U.S.Treas.-gen.acct. 434,603 29,386 23,364 33,179 25,236 41,658 32,878 45,668 29,532 19,409 35,191 37,097 82,005 Foreign 311,197 17,043 1/96,515 20,631 26,611 15,249 13,455 42,757 11,063 7,176 11,661 15,548 33,488 Other 385,971 344 330,029 10,011 600 2,784 1,494 337 2,116 251 648 1.305 36,052 Total deposits 19,264,793 812,493 5,547,677 930,775 1493,744 016,234 943,567 2906,000 700,042 426,047 899,582 1022,331 2678,213 Deferred availability cash items 4,226,300 348,475 698,991 265,593 392,914 326,638 351,918 669977,,553388 116655,,666611 110,459 221,393 221,301 425,419 Other liabilities and accrued dividends 20,668 1,166 5,528 1,014 2,436 990 919 3,276 689 723 729 l,l4l 2,057 TOTAL LIABILITIES 49,948,352 2727,600 12,553,215 2660,417 4371,107 3102,131 2527,634 0001,657 2039,570 1076,040 2170,192 1955,115 5603,57% CAPITAL ACCOUNTS Capital paid in 350,925 17,876 102,992 21,468 33,084 15,988 17,248 47,965 11,833 7,835 14,203 19,763 40,670 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 212,567 13,245 49,859 14,069 19,009 14,276 11,400 33,346 10,077 6,127 10,007 9,235 21,917 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,348,585 2808,745 12,937,348 2956,366 4495,836 3256,98 02593,236 9005,901 2093,595 1110,780 2226,072 2026,291 5837,435 Conting. liab. on acceptances purchased for foreign correspondents 125,719 7,159 2/35,538 8,667 11,179 6,4o6 5,652 17,961 4,647 3,014 4,898 6,531 14,067 Industrial loan commit. 1.017 — — -- 26 51 —— — — - - — — 940 — — FEDERAL R:E SERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,438,654 1626,015 6,581,506 1716,277 2565,305 2112,904 1291,456 5200,337 1216,200 554,571 1076,324 750,735 2730,056 Collat. for F. R. notes: Gold certificate acct. 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 Eligible paper 27,528 — — 3,950 -- — - - -- 4,650 — 18,928 -*• -- U. S. Govt, securities 17,045,000 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 Total collateral 29.130,528 1850.000 6,870,000 1843.950 2730,000 2175.000 1425.000 5400,000 1309,650 580,000 1136,928 808,000 3000,000 1/ After deducting $214,682,000 participations of other Federal Reserve Banks. 2/ After deducting $90,l8l,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis