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 29, 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 28 decreased $54 million to $18,194 million. Estimated required reserves decreased $27 million; and estimated excess reserves decreased $27 million to $621 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $502 million, compared with $544 million the week before. The principal changes reducing average reserves were decreases of $214 million in Federal Reserve float and $118 million in gold stock. The principal offsetting changes were an increase of $177 million in U. S. Government securities bought outright, and decreases of $33 million in foreign deposits with Federal Reserve Banks and $22 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $22 million. As of Wednesday, May 28, holdings of U. S. Government securities bought outright were $122 million higher than a week earlier and member bank borrowings were $86 million higher. Member bank reserves, Averages of daily figures Reserve Bank crcdit, For week ending Change from week ending and related items May 28, 1958 May 21, 1958 1 May 29, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,053 +177 +1,152 Held under repurchase agreement — - - - 29 Acceptances--bought outright 42 + 1 + 22 Loans, discounts, and advances-- Member bank borrowings 119 + 15 - 764 Other * 21 — — Float 780 -214 - 199 Total Reserve Bank credit 24,994 - 22 + 161 Gold stock 21,661 -118 - 745 Treasury currency outstanding 5,201 + 1 + 99 51,856 -139 - 485 Money in circulation 30,813 - 9 + 153 Treasury cash holdings 722 - 10 - 72 Treasury deposits with F. R. Banks 437 - 22 - 125 Foreign deposits with F. R. Banks 276 - 33 - 82 Other deposits with F. R. Banks 391 + 10 + 112 Other F. R. accounts (net) 1,023 - 20 - 50 33,662 - 65 - 63 Member bank reserves-- 18,194 - 54 - 422 Required reserves (estimated) 17,573 - 27 - 691 Excess reserves (estimated) 621 - 27 + 269 ~ 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 21,643 Treasury cash holdings 715 Treasury currency outstanding 5*201 Member bank) - Required (est.) 17,601 Money in circulation 30,962 reserves ) - Excess (est.) 435 On May 28, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,038 million, a decrease of $30 million for the week and a decrease of $576 million from the comparable Digitdizaedt feor FaR AySeEaR r 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 May 28, May 21, May 29> 1958 1958 1957 A S S E TS Gold certificate account 20,223,389 - 100,004 - 866,003 Redemption fund for F. R. notes 831,263 2,242 - 11,399 Total gold certificate reserves 21,054,652 - 102,246 - 877,402 F. R. notes of other Banks 331,713 - 47,129 + 16,120 Other cash 337,398 - 27,740 + 4,472 Discounts and advances 172,173 + 86,367 791,568 Industrial loans 463 20 285 Accep tances--bought outright 40,759 + 1,000 20,040 U, S. Government securities: Bought outright- Bills 1,329,360 + 121,500 +1,114,597 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 24,064,722 121,500 +1,114,597 Held under repurchase agreement 63,200 Total U. S. Government securities 24,064,722 + 121,500 +1,051,397 Total loans and securities 24,278,117 + 208,847 + 279,584 Due from foreign banks 15 7 Uncollected cash items 4,388,839 - 612,397 - 369,076 Bank premises 87,341 + 49 + 9,148 Other assets 304,977 + 15,083 + 114,546 TOTAL ASSETS 50,783,052 - 565,533 - 822,615 L I A B I L I T I ES Federal Reserve notel? ~ 26,555,738 + 119,147 + 83,225 Deposits: Member bank reserves 18,035,669 - 97,353 - 649,062 U. S. Treasurer—general account 382,476 - 52,127 - 104,797 Foreign 276,986 - 34,211 - 86,977 Other 400,406 + 14,435 + 117,674 Total deposits 19,095,537 - 169,256 - 723,162 Deferred availability cash items 3,744,682 - 481,618 - 229,008 Other liabilities and accrued dividends 20,931 + 263 + 506 TOTAL LIABILITIES l>9,lii6,888 - 531,464 -868,439 C A P I T AL A C C O U N TS Capital paid~in ~ 351,098 173 + 18,987 Surplus (Section 7) 809,198 + 61,605 Surplus (Section ljb) 27,543 Other capital accounts 178,325 - 34,242 - 34^768 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,783,052 - 965,533 - 822,615 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.1$ .2# 1.: Contingent liability on acceptances purchased for foreign correspondents 120,300 5,419 60,48l Industrial loan commitments 1,036 19 784 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 28, 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 167,041 144 15,890 257,910 16 days to 90 days 5,125 147 24,869 .7,652,997 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 Digitized for F T R o A t S a E l R 172,173 50/759 24,064,722 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MY 28. 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta, Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,223,389 1001,338 5,661,724 1099,782 1661,977 1151,004 794,693 3739,651 797,521 424,130 767,804 652,176 2471,589 Redemption fund for F. R. notes 831,263 53.833 172.467 57.220 75.971 71,264 47.122 148.162 42.234 21.690 40.696 27.789 72.81S Total gold certificate reserves 21,054,652 1055,171 5,834,191 1157,002 1737,948 1222,268 841,815 3887,813 839,755 445,820 808,500 679,965 2544,404 F.R. notes of other Banks 331,713 17,170 84,547 21,192 34,504 16,809 54,041 24,956 9,614 14,166 6,052 23,301 25,361 Other cash 337,398 24,231 62,927 22,369 35,733 19,609 28,355 48,013 16,883 8,911 10,126 16,354 43,887 Discounts and advances 172,173 18,825 35,400 13,160 6,065 23,145 13,391 26,698 7,810 6,740 18,639 1,050 1,250 Industrial loans 463 327 118 18 Acceptances-- Bought outright 40,759 40,759 U. S. Govt, securities: Bought outright— Bills 1,329,360 72,382 335,223 76,416 117,681 86,531 67,641 232,213 54,230 27,966 56,741 52,072 150,264 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 24,064,722 1310,276 6Z, 0m 6T8,353 1383,336 2130,329 1 5Ur6s6i,421 -t1o2ol2,4 h,C4c8 5T r4/2 03,626 981,696 506,250 1027,155 942,639 2720,156 Held under repurchase agreement Total U. S^ Govt, sees. 24,064,722 1310,276 6,068,353 1383,336 2130,329 1566,421 1224,485 4203,626 981,696 506,250 1027,155 942,639 2720,156 Total loans & securities 24,278,117 1329,428 6,144,512 1396,614 2136,394 1589,566 1237,876 4230,324 989,506 513,008 1045,794 943,689 2721,406 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,388,839 320,423 814,644 288,538 402,713 332,109 359,716 726,445 176,951 117,"525 210,780 223,080 416,015 Bank premises 87,341 4,837 10,684 4,402 9,839 6,817 8,012 7,936 6,371 5,28l 4,904 6,791 11,467 Other assets 304,977 16,417 75,151 17,169 27,069 19,767 15,499 55,261 12,263 6,311 13,291 12,835 33,944 TOTAL ASSETS 50,783,052 2767,678 13,026,660 2907,287 4384,201 3206,946 2545,315 8980,750 2051,344 1110,922 2099,448 1906,016 5796,485 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

Phila- Cleve- St. Minne- Kansas San TToottaall Boston New York RRiicchhmmoonndd Atlanta 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 26,555,738 1572,720 6,342,619 1666,338 2481,634 2043,524 1235,319 5132,193 1174,995 539,659 1052,073 707,979 2606,685 Deposits: Member bank reserves 1188,,003355,,666699 777788,,220077 55,,117733,,442211 847,381 1387,399 776666,,559911 891,845 2939,169 638,628 405,941 777,349 889,944 2539,794 U.S.Treas.-gen.acct. 382,476 18,146 51,809 28,046 21,238 28,803 26,265 43,432 28,235 19,426 27,678 28,842 60,556 Foreign 276,986 15,219 1/85,280 18,423 23,763 13,617 12,015 38,181 9,879 6,408 10,413 13,884 29,904 Other 400,406 488 347,905 8,955 815 2,722 1,031 905 2,173 257 1,095 1,271 32,789 Total deposits 19,095,537 812,060 5,658,415 902,805 1433,215 811,733 931,156 3021,687 678,915 432,032 816,535 933,941 2oo3,043 Deferred availability cash items 3,744,682 302,349 664455,,552222 243,198 345,078 227788,,002266 313,750 662255,,669977 143,894 104,450 175,535 192,834 374,349 Other liabilities and accrued dividends 20,931 1,198 4,991 972 22,,660066 1,107 1,035 3,163 788 652 834 1,172 2,413 TOTAL LIABILITIES 49,416,888 2688,327 12,651,547 2813,313 4262,533 3134,390 2481,260 8782,740 1998,592 1076,793 2044,977 1835,926 5646,490 CAPITAL ACCOUNTS Capital paid in 351,098 17,879 103,001 21,483 33,087 15,896 17,286 47,984 11,842 7,847 14,206 19,886 40,701 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,l40 Other capital accounts 178,325 11,448 40,830 12,079 16,025 12,075 9,815 27,093 8,803 5,512 8,595 8,026 18,024 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,783,052 2767,678 13,026,660 2907,287 4384,201 3206,946 2545,315 8980,750 2051,344 1110,922 2099,448 1906,016 5796,485 Conting. liab. on acceptances purchased for foreign correspondents 120,300 6,857 22//3333,,992255 8,300 10,706 6,135 5,414 17,203 4,451 2,887 4,692 6,256 13,474 Industrial loan commit. 1,036 -- — 45 51 -- - - — — 940 -- — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,460,364 1623,416 6,584,570 1717,802 2559,604 2110,509 1287,135 5231,023 1215,169 553,906 1078,889 756,887 2741,454 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,008,000 700,000 3,270,000 640,000 1130,000 775,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 39,586 — — —— 13,160 —— — — —— —— 7,810 — — 18,616 — — —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,095,000 1150,000 3,600,000 1200,000 1600,000 1400,000 1000,000 3000,000 875,000 425,000 820,000 525,000 l';00-000 TToottaall ccoollllaatteerraall 29,142,586 1850.000 6.870.000 1853.160 2710.000 2175.000 1425,000 5400,000 1312,810 580,000 1138,6l6 808.000 3000,000 l/ After deducting $191,706,000 participations of other Federal Reserve Banks. 2/ After deducting $86,375,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis