H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H'4.1 OF T0E FEDERAL RESERVE SYSTEM June 12, 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 June 11 increased $127 million to $18,274 million. Estimated required reserves increased $84 million; and estimated excess reserves increased $43 million to $5"0 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $396 million, compared with $403 million the week before. . principal changes supplying average reserves were increases of fen Sii1011 in Federal Reserve holdings of U. S. Government securities and $50 million in member bank borrowings, and a decrease of $114 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $82 million in "other" F. R, accounts (net), $65 million in money in circulation, and $29 million in foreign deposits with Federal Reserve Banks, and a decrease of $54 million in Federal Reserve float. Total Reserve Bank credit increased $200 million. . .. °£ Wednesday, June 11, holdings of U. S. Government securities bought outright were $242 million higher than a week earlier, U. S, Government securities „!ld ^P^chase agreement were $8 million higher, and member bank borrowings were $31 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items June 11, 1958 June 4. 1958 1 June 12. 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,391 +197 +1,465 Held under repurchase agreement 6 + 6 - 4o Acceptances—bought outright 44 + 3 + 24 Loans, discounts, and advances-- Member bank borrowings 184 + 50 - 867 Other * - 1 - 9 Float 815 - 54 - 121 Total Reserve Bank credit 25,440 +200 + 452 Gold stock 21,594 + 1 -1,027 Treasury currency outstanding 5,203 + 1 + 97 52,236 +201 - 479 Money in circulation 31,052 + 65 + 149 Treasury cash holdings 709 - 2 - 82 Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks 424 + 13 - 39 267 + 29 - 112 Other deposits with F. R. Banks 370 -114 + 94 Other F. R. accounts (net) 1,139 + 82 + 70 33,962 77* + 8l Member bank reserves-- 18,274 +127 560 Required reserves (estimated) 17,694 rm - 636 Excess reserves (estimated) 580 + 43 + 76 *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 21,594 Treasury cash holdings 708 Treasury currency outstanding 5,204 Member bank) - Required (est.) 17,805 Money in circulation 31,048 reserves ) - Excess (est.) 673 On June 11, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,072 million, an increase of $27 million for the week and a decrease of $601 million from the comparable Digitdizeadt efo ra F yReASaErR ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 11, June June 12, 1958 1958 1957 A S S E TS Gold certificate account ao,183,394 10,003 - 915,999 Redemption fund for F. R. notes 827,106 - 12,050 Total gold certificate reserves 21,010,500 - 928,049 F. R, notes of other Banks 313,321 11,598 + 3,199 Other cash 326,894 2,258 + 3,729 Discounts and advances 172,764 + 30,965 -1,117,748 Industrial loans 490 + 15 283 Acceptances—bought outright 42,229 4- 999 + 22,810 U. S. Government securities; Bought outright-- Bills 1,773,260 241,900 +1,619,297 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2.789,257 - 12,493 Total bought outright 24,508,622 + 241,900 +1,619,297 Held under repurchase agreement 7,900 , 7,900 + 7,900 Total P. Si Government securities 24,516,522 + 249.800 +1,627,197 Total loans and securities 24,732,005 + 281,779 + 531,976 Due from foreign banks 15 7 Uncollected cash items 4,683,447 20,275 - 294,514 Bank premises 87,606 79 + 9,219 Other assets 187,165 14,796 29,085 TOTAL ASSETS 51340,953 268.369 703,532 r L I A B I L I T I ES Federal Reserve notes ™" ~~ 26,607,776 + 40,483 + 91,787 Deposits: Member bank reserves 18,478,179 293,919 - 553,063 U. S. Treasurer—general account 355,809 60,409 - 67,718 Foreign 258,935 12,689 - 135,879 Other 37%,P65 12,126 +, 105,259 Total deposits 19,469,988 232,947 - 651,401 Deferred availability cash items 3,850,488 17,530 - 193,859 Other liabilities and accrued dividends 348 TOTAL LIABILITIES 49,950,097 4- 256,248 - 752,752 C A P I T AL A C C O U N TS Capital paid in 351,758 + 162 + 19,553 Surplus (Section 7) 809,198 + 61)605 Surplus (Section 13b) 27,543 'mm mm — Other capital accounts 202,357 + 11,959 - 31,938 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,340,953 + 268,369 703,532 Ratio of gold certificate reserves to deposit and F.R. note liabilities combined 45.6# - ..33## 1.4$ Contingent liability on acceptances purchased for foreign correspondents 111,930 + 1,304 + 48,691 Industrial loan commitments 991 - 1? 761 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JUNE 11, 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 170,022 153 15,279 303,850 16 days to 90 days 2,735 165 26,950 8,058,857 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 172,764 42,229 24,516,522 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 11, 1958 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas DDaallllaass San delphla land Louis apolis City Francisco A S S E TS (In thousands of dollars) Gold certificate account 20,183,394 1056,476 5,677,077 1075,482 1658,575 1174,043 810,503 3626,323 792,147 430,313 781,369 673,709 2427,377 Redemption fund for F. R. notes 827,106 53,612 171,496 56,872 75,614 70,033 46.968 147.784 42,128 21.627 4o,6l6 27.728 72,628 Total gold certificate reserves 21,010,500 1110,088 5,848,573 1132,354 1734,189 1244,076 857,471 3774,107 834,275 451,940 821,985 701,437 2500,005 F.R. notes of other Banks 313,321 14,665 87,587 22,761 30,562 15,508 49,738 23,844 9,648 12,361 6,124 13,310 27,213 Other cash 326,894 21,719 61,978 22,008 37,663 16,687 25,913 48,695 17,466 7,775 8,804 15,206 42,980 Discounts and advances 172,764 14,470 33,305 11,370 26,835 17,685 8,100 22,533 9,450 1,700 22,466 4,650 200 Industrial loans 490 327 —— — "• — — 18 Acceptances- Bought outright 42,229 42,229 ~~ —— —— U. S. Govt, securities: Bought outright— Bills 1,773,260 96,551 447,160 101,934 156,978 115,425 90,228 309,753 72,339 37,304 75,688 69,460 200,440 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*862 703,361 160.338 246.919 181.558 141.926 487.227 113.785 58.678 HQ.054 109.258 TLS.PR4 Total 24,508,622 1334,445 6,180,290 1408,854 2169,626 1595,315 1247,072 4281,166 999,805 515,588 1046,102 960,027 2770,332 Held under repurchase agreement 7,900 Total U. S. Govt, sees. 24,516,522 1334,445 6,188,190 1408,854 2169,626 1595,315 1247,072 4281,166 999,805 515,588 1046,102 960,027 2770,332 Total loans & securities 24,732,005 1349,242 6,263,724 1420,369 2196,461 1613,000 1255,172 4303,699 1009,255 517,306 1068,568 964,677 2770,532 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 l 1 Uncollected cash items 4,683,447 318,188 821,818 290,153 430,246 388,348 410,662 770,484 207,062 133,239 235,811 229,645 447,791 Bank premises 87,606 4,837 10,666 4,402 9,898 6,831 8,020 7,922 6,626 5,281 4,888 6,768 11,467 Other assets 187,165 10,015 45,496 10,480 16,501 11,953 9,470 34,985 7,500 3,866 8,285 8,005 20,609 TOTAL ASSETS 51,340,953 2828,755 13,139,846 2902,528 4455,521 3296,404 2616,447 8963,738 2091,833 1131,768 2154,466 1939,049 5820,598 1/ After deducting $11,000 participations of other Federa lReserve Banks. 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(c) STATEMENT OF CONDIT:C ON OF EACH FEDERA]L RESERVE BANK ON JUNE 11, 1958 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago j Minne- Kansas Dallas San delphia land apolis City Francisco thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,607,776 1578,369 6,319,700 1666,977 2482,276 2046,331 1257,770 5136,072 1181,298 5*5,186 1061,983 710,474 2621,340 Deposits: Member bank reserves 18,478,179 839,126 5,366,497 847,696 1446,621 818,450 900,248 2911,937 666,089 416,016 801,694 923,095 2540,710 U.S.Treas.-gen.acct. 355,809 29,349 33,525 27,875 23,228 33,566 27,436 46,672 20,689 16,140 29,224 21,097 47,008 Foreign 258,935 11,913 1/108,873 14,421 18,601 10,659 9,405 29,887 7,733 5,016 8,151 10,868 23,408 Other 377,065 651 317,933 10,153 1,785 2,694 1,554 731 1,206 413 3,404 1,301 35,240 Total deposits 19,469,900 881,039 5,826,82b 900,145 1490,235 865,369 938,643 2989,227 695,717 437,5^5 842,473 956,361 2646,366 Deferred availability cash items 3,850,488 287,528 606,326 238,908 356,529 309,528 353,579 632,776 160,338 113,534 193,588 200,223 397,631 Other liabilities and accrued dividends 21,845 1,277 5,482 1,095 2,647 1,137 1,089 3,171 783 677 899 1,020 2,568 TOTAL LIABILITIES 49,950,097 2748,213 12,758,336 2807,125 4331,687 3222,365 2551,081 8761,246 2038,136 1096,982 2098,9*3 1868,078 5667,905 CAPITAL ACCOUNTS Capital paid in 351,758 17,809 103,179 21,507 33,147 15,900 17,426 48,004 11,863 8,068 14,246 19,905 40,704 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,l4o Other capital accounts 202,357 12,709 47,049 13,484 18,131 13,554 10,986 31,555 9,727 5,948 9,607 8,888 20,719 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,340,953 2828,755 13,139,846 2902,528 4455,521 3296.404 2616,447 8963,738 2091,833 1131,768 2154,466 1939.049 5820,598 Conting. liab. on acceptances purchased for foreign correspondents 111,930 6,384 2/31,51* 7,728 9,968 5,712 5,040 16,016 4,144 2,688 4,368 5,824 12,544 Industrial loan commit. 99lj -- - — 3/ 51 -- - — -- - — -— 9*0 FEDERAL RESERVE AGENTS' ACCOUNTS —— F. R. notes outstanding 27,465,236 1622,673 6,551,075 1723,591 2557,456 2114,278 1303,475 5230,456 1224,109 560,281 1084,796 753,231 2739,815 Collat. for F. R. notes: Gold certificate acct. 11,948,000 700,000 3,270,000 64o,ooo 1070,000 775/000 425,000 24oo,ooo 430,000 155,000 300,000 283,000 1500,000 Eligible paper 43,286 -- 11,370 — -- — — 9,450 — 22,466 U. S. Govt, securities 17,095,000 1150,000 3,600,000 1200,000 1600,000 i4oo,ooo 1000,000 3000,000 875*000 425,000 820,000 525,000 1500,000 Total collateral 29.086.286 1850,000 6.870.000 1851.370 2670.000 2175.000 1425.000 5400.000 1314.450 580.000 1142.466 808.000 3000.000" l/ After deducting $150,062,000 participations of other Federal Reserve Banks» 2/ After deducting $80,416,000 participations of other Federal Reserve Banks. 3/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis