H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM June 5, I958 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 June 4 decreased $47 million to $18,147 million. Estimated required reserves increased $55 millionj and estimated excess reserves decreased $102 million to $537 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $403 million, compared with $520 millio nthe week before. . _ ^lae principal changes reducing average reserves were a decrease of $68 million in gold stock, and increases of $174 million in money in circulation, $93 million in "other" deposits with Federal Reserve Banks, and $34 million in other^ F. R. accounts (net). The principal offsetting changes were increases of $141 million in U. S. Government securities bought outright and $89 million in Federal Reserve float, and decreases of $38 million in foreign deposits with Federal Reserve Banks and $26 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $246 million. As of Wednesday, June 4, holdings of U. S. Government securities bought outright were $202 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 June 4, 1958 May 28, 1958 \ June 5, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,194 +141 +1,244 Held under repurchase agreement - 160 - - — «• Acceptances--bought outright 41 - 1 + 20 Loans, discounts, and advances— Member bank borrowings 134 + 15 - 754 Other 1 + l - 13 Float 869 + 89 - 85 Total Reserve Bank credit 25,240 +246 + 253 Gold stock 21,593 - 68 -1,027 Treasury currency outstanding 5,202 + 1 + 98 52,035 +179 676 Money in circulation 30,987 +174 + 150 Treasury cash holdings 711 - 11 - 81 Treasury deposits with F. R. Banks 411 - 26 - 74 Foreign deposits with F. R. Banks 238 - 38 - 119 Other deposits with F. R. Banks 484 + 93 + 161 Other F. R. accounts (net) 1,057 + 34 - 15 33,888 +226 + 22 Member bank reserves-- 18,147 - 47 - 699 Sequired reserves (estimated) 17,610 + 55 - 768 Excess reserves (estimated) 537 -102 + 69 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 21,594 Treasury cash holdings 716 Treasury currency outstanding 5,201 Member bank) - Required (est.) 17,686 Money in circulation 30,988 reserves ) - Excess (est.) 498 On June 4, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,045 million, an increase of $7 million for the week and a decrease of $563 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3.4.1(a) STATEMENT OF CONDITION OP TEE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since June 4, May 25, June 5, 1958 1958 1957 A S S E TS Gold certificate account 20,173,391 - 49,998 ~ 991166,,000033 Redemption fund for F. R. notes 831,263 -- - 9,678 Total gold certificate reserves 21,004,654 - 49,998 - 925,681 F. R. notes of other Banks 324,919 - 6,794 + 19,989 Other cash 329,152 - 8,246 + 3,370 Discounts and advances 141,799 ~ 30,374 - 396,019 Industrial loans 475 + 12 - 289 Acceptances—bought outright 41,230 + 471 + 20,512 U. S. Government securities: Bought outright-- Bills 1,531,360 + 202,000 +1,316,597 Certificates 19,946,105 — +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 24,266,722 + 202,000 +1,316,597 Held under repurchase agreement -- - 157,800 Total U. S. Government securities 24,266,722 + 202,000 +1,158,797 Total loans and securities 24,450,226 + 172,109 + 783,001 Due from foreign banks 15 -- - 7 Uncollected cash items 4,703,722 + 314,883 + 225,060 Bank premises 87,527 + 186 + 9,365 Other assets 172,369 - 132,608 - 31,258 TOTAL ASSETS 51,072,584 + 289,532 + 83,839 L I A B I L I T I ES Federal Reserve notes ~ ~ 2266,,556677,,229933 + 11,555 + 85,991 Deposits: Member bank reserves 18,184,260 + 148,591 - 351,564 U. S. Treasurer—general account 416,218 + 33,742 + 36,465 Foreign 271,624 5,362 W 88,518 Other 364,939 35,467 + 95,642 Total deposits 19,237,041 + 141,504 - 307,975 Deferred availability cash items 3,868,018 + 123,336 + 258,443 Other liabilities and accrued dividends 21,497 + 566 * 398 TOTAL LIABILITIES 49,693,849 + 276,961 + 36,061 C A P I T AL A C C O U N TS Capital "paid fix" 351,596 + 498 + 19,422 Surplus (Section 7) 809,198 • w + 61,605 Surplus (Section 13b) 27,543 mm Other capital accounts 190,398 + 12,073 - i 33,249 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,072,584 + 289,532 + 83,839 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9& ..22## - 1.7# Contingent liability on acceptances purchased for foreign correspondents 111100,,662266 - 99,,667744 + 4488,,003333 Industrial loan commitments 1,006 - 30 - 797 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 4, 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 138,609 153 1^,091 256,010 16 days to 90 days 3,183 150 25,139 7,856,897 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 1,358,247 Total Digitized for FRASER 141,799 575 41,230 24,266,722 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) Total Boston New York P d h e i l l p a hi - a Glald" |RichmODd Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka Ci n t sa y s Dallas Fran S c a i n s ci (In thousands of dollars) A S S E TS Gold certificate account 20,173,391 997,022 5,530,986 1109,848 1664,363 1165,947 804,326 3771,306 775,914 438,78? 806,630 702,516 2405,746 Redemption fund for F. R. notes 831,263 53,833 172,46? 57,220 75,971 71,264 47,122 148,162 42,234 21,690 40,696 27,789 72,815 Total gold certificate reserves 21,004,654 1050,855 5,703,453 1167,068 1740,334 1237,211 851,448 3919,468 818,148 460,477 847,326 730,305 2478,561 F.R. notes of other Banks 324,919 16,421 89,363 23,356 33,264 l4,64l 50,461 22,890 9,291 12,752 4,528 16,676 31,276 Other cash 329,152 23,846 59,418 24,122 34,586 17,573 28,104 49,14? 17,499 8,872 8,819 14,306 42,860 Discounts and advances 141,799 9,765 22,485 8,170 21,185 8,402 17,100 8,933 13,650 3,600 23,559 4,750 200 Industrial loans 475 32? 130 18 Acceptances-- Bought outright 41,230 41,230 -- -- -- -- -T U. S< Govt, securities: Bought outright— Bills 1,531,360 83,380 386,161 88,028 135,564 99,679 77,920 267,498 62,471 32,215 65,362 59,985 173,097 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 2,789,257 151,869 703,361 160,338 246,919 181,558 141,926 487,22? 113,785 58,678 119,054 109,258 315,284 Total 24,266,722 1321,274 6,119,291 1394,948 2148,212 1579,569 1234,764 4238,911 989,937 510,499 1035,776 950,552 2742,989 Held under repurchase agreement Total U. S. Govt, sees. 2k,266.722 1321,274 6.119,291 1394,948 2148,212 1579,569 1234,764 4238,911 989,937 510,499 1035,776 950.552 2742.989 Total loans & securities 24,450,226 1331,366 6,183,006 1403,248 2169,397 1587,971 1251,864 4247,844 1003,587 514,117 1059,335 955,302 2743,189 Due from foreign hooks 15 1 1/4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 4,703,722 340,781 8867244 294,829 431,28? 370,491 369,888 750,638 199,911 125,604 253,383 212,745 467,921 Bank premises 87,527 4,837 10,662 4,402 9,839 6,817 8,020 7,922 6,626 5,281 4,888 6,766 11,46? Other assets 172.369 9,157 41,993 9,543 15,365 10,948 8,732 32,203 6,906 3,536 7,632 7,402 18,952 TOTAL ASSETS 51,072,584 2777,264 12,974,143 2926,569 4434,073 3245,653 2568,518 9030,114 2061,969 1130,639 2185,912 1943,503 5794,227 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 JUNE 4 ,1958 1 Total Boston New York ) Rich^nd Atlanta Chicago ^ ^ K^8 Dallas L s LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,567,293 1575,828 6,329,268 1663,808 2480,458 2042,168 1247,978 5127,104 1179,057 541,120 1058,454 708,908 2613,142 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,184,260 759,969 5,169,905 866,592 1404,810 800,092 916,675 2943,562 627,722 418,694 830,508 936,430 2509,301 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 416,218 30,921 58,204 23,915 25,555 27,310 24,022 75,818 21,220 25,325 34,850 30,537 38^541 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 271,624 14,250 1/92,124 17,250 22,250 12,750 11,250 35,750 9,250 6,000 9,750 13,000 28 000 OOOOOttttthhhhheeeeerrrrr 364,939 645 306,512 9,662 1.406 2.942 1.425 578 2.280 422 1.307 1.577 l6.l8l TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,237,041 805,785 5,626,745 917,419 1454,021 843,094 953,372 3055,708 660,472 450,441 876,415 981,544 2612,025 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,868,018 314,480 634,174 249,532 374,092 286,140 301,523 643,479 168,478 103,856 195,265 181,619 415,380 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 21,497 1,258 5,540 1,119 2,718 960 945 3,523 720 680 766 914 2,354 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,693,849 2697,351 12,595,727 2831,878 4311,289 3172,362 2503,818 8829,814 2008,727 1096,097 2130,900 1872,985 5642,901 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 351,596 17,798 103,166 21,493 33,145 15,900 17,334 47,997 11,860 8,058 14,254 19,889 40,702 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 190,398 12,091 43,968 12,786 17,083 12,806 10,412 29,370 9,275 5,714 9,088 8,451 19,354 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,072,584 2777,264 12,974,143 2926,569 4434,073 3245,653 2568,518 9030,114 2061,969 1130,639 2185,912 1943,503 5794,227 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb,,,,, ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 110,626 6,276 2/31,574 7,597 9,799 5,615 4,955 15,744 4,074 2,642 4,294 5,725 12,331 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,006 -- - - 15 51 -- -- 940 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,458,638 1628,545 6,572,113 1722,667 2550,590 2106,491 1294,041 5227,404 1224,156 554,254 1084,445 754,590 2731,334 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 45,357 — 8,170 -- -- — 13,650 — 23,537 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,095,GOO 1150,000 3,600,000 1200,000 1600,000 1400,000 1000,000 3000,000 875,000 425,000 820,000 525,000 1500,000 TToottaall ccoollllaatteerraall 29,148,357 1850,000 6,870,000 1848,170 2730,000 2175,000 1425,000 5400,000 1318,650 580,COu 1143,537 808,000 30Co'ooo l/ After deducting $179,500,000 participations of other Federa lReserve Banks. 2/ After deducting $79,052,000 participations of other Federa lReserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis