H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 19, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member "ban kreserves for the week ending June 18 increased $345 million to $18,619 million, Estimated required reserves million; and estimated excess reserves increased $56 million to $666 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $491 million, compared with $426 million the week before. The principal changes supplying average reserves were increases of $221 million in Federal Reserve float, $190 million in U. S. Government securities bought outright, and $95 million held under repurchase agreement. The principal offsetting changes were a decrease of $54 millio nin gold stock ,and increases of $64 million in foreign deposits with Federal Reserve Banks and $35 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $499 million. As of Wednesday, June 18, holdings of U. S. Government securities bought outright were $155 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $114 million higher, and member bank borrowings were $19 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items June 18, 1958 June 11, 1958I June 19, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 24,581 +190 +1,701 Held under repurchase agreement 101 + 95 + 51 Acceptances-- Bought outright 45 + 1 + 25 Held under repurchase agreement 1 - - -- Loans, discounts, an dadvances-- Member bank borrowings 175 - 9 - 914 Other * 1 Float 1,036 +221 - 348 Total Reserve Bank credit 25,939 +499 + 515 Gold stock 21,540 - 54 -1,081 Treasury currency outstanding 5,204 + 1 + 98 52,682 +446 - 469 Money in circulation 31,070 + 18 + 166 Treasury cash holdings 69 8 - 11 - 84 Treasury deposits with F. R. Banks 459 + 35 - 59 Foreign deposits with F. R, Banks 331 + 64 - 58 Other deposits with F. R. Banks 359 - 11 + 24 Other F. R. account s(net) 1,146 + 7 + 70 34,063 +101 + 59 Member bank reserves-- 18,619 +345 - 529 Required reserves (estimated) 17,953 +289 - 593 Excess reserves (estimated) 666 + 56 + 64 * 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 21,456 Treasury cash holdings 703 Treasury currency outstanding 5,204 Member bank) - Required (est.) 18,229 Money in circulation 30,996 reserves ) - Excess (est.) 735 On June 18, 1958, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,112 million, an increase of $40 million for the week and a decrease of $635 million from the comparable date Digitized for FRASER a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 18, June 11, June 19, 1958 1958 1957 A S S E TS Gold certificate account 20,033,391 - 150,003 -1,066,001 Redemption fund for F. R. notes 834,500 + 1494 - 2,915 Total gold certificate reserves 20,867,891 - 142,609 -1,068,916 F. R. notes of other Banks 332,246 + 18,925 + 14,488 Other cash 338,172 + 11,278 + 662 Discounts and advances 153,995 - 18,769 - 889,863 Industrial loans 481 9 244 Acceptances—"bought outright 43,226 + 997 + 23,811 U. S. Government securities: Bought outright— Bills 1,928,260 155,000 +1,793,047 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 24,663,622 + 155,000 +1,793,047 Held under repurchase agreement 122,000 + 114^100 122^000 Total U. S, Government securities 24,785,622 + 269,100 +1,915.047 Total loans and securities 24,983,324 + 251,319 +1,048,751 Due from foreign banks 15 7 Uncollected cash items 7,092,823 +2,409,376 + 113,057 Bank premises 87,795 + 189 + 8,876 Other assets , 180,803 6,362 - 27,267 TOTAL ASSETS 53,883,069 +2,542,116 + 89,644 L I A B I L I T I ES Federal Reserve notes ~~ 26,577,902 - 29,874 + 92,162 Deposits: Member bank reserves 18,964,132 + 485,953 - 87,762 U. S. Treasurer—general account 333,823 - 21,986 - 268,078 Foreign 289,431 + 30,496 - 80,556 Other 182,181 - 194,884 - 100,372 Total deposits 19,769,567 + 299,579 - 536,768 Deferred availability cash items 6,109,294 +2,258,806 + 482,227 Other liabilities and accrued dividends 22,631 + 786 + , . 996 TOTAL LIABILITIES 52,479,394 +2,529,297 + 38,617 C A P I T AL A C C O U N TS Capital paid-in ~ 352,650 892 + 20,217 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 214,284 + 11,927 - 30,795 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53, fcM33l0 69 +2,542,116 + 89,644 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.0# l.< Contingent liability on acceptances purchased for foreign correspondents 115,681 + 3,751 53,056 Industrial loan commitments 997 + 6 , 801 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 18, 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 151,181 291 15,953 529,000 16 days to 90 days 2,811 29 27,273 8,463,593 91 days to 1 year 3 71 13,364,558 Over 1 year to 5 years 90 1,013,614 Over 5 years to 10 years 56,610 Over 10 years 4*358,247 Total 153^995 5Si 43,226 24,7557^22 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 18, 1958 Phila- Cleve I St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago DDaallllaass delphia land 1 Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,033,391 1018,702 5,580,231 1109,884 1736,319 1136,240 820,327 3388,485 821,800 446,303 818,681 735,566 2420,853 Redemption fund for F. R. notes 834,500 53,484 170,882 56,648 75,396 79,280 46,871 147,557 42,057 21,589 40,572 27,678 72,486 Total gold certificate reserves 20,867,891 1072,186 5,751,113 1166,532 1811,715 1215,520 867,198 3536,042 863,857 467,892 859,253 763,244 2493,339 F.R. notes of other Banks 332,246 14,755 90,375 26,661 26,477 18,274 51,385 23,230 11,615 12,344 6,731 14,955 35,444 Other cash 338,172 22,508 61,903 21,175 35,983 18,054 29,876 49,878 19,557 8,700 9,989 14,074 46,475 Discounts and advances 153,995 9,675 4,370 2,525 12,895 6,950 10,950 63,703 1,950 2,700 22,277 13,800 2,200 Industrial loans 481 327 138 16 Acceptances- Bought outright 43,226 43,226 -- -- -- U. S. Govt, securities: Bought outright- Bills 1,928,260 104,991 486,246 110,844 170,699 125,514 98,115 336,828 78,662 40,565 82,303 75,532 217,961 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 24,663,622 1342,885 6,219,376 1417,764 2183,347 1605,404 1254,959 4308,241 1006,128 518,849 1052,717 966,099 2787,853 Held under repurchase agreement 122,000 122,000 -- -- -- " — Total U. S. Govt, sees. 24,785,622 1342,885 6,341,376 1417,764 2183,347 1605,404 1254,959 4308,241 1006,128 518,849 1052,717 966,099 2787,853 Total loans & securities 24,983,324 1352,887 6,388,972 1420,427 2196,242 1612,354 1265,909 4371,944 1008,078 521,565 1074,994 979,899 2790,053 Due from foreign banks 15 1 1/ 4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 7,092,823 435,940 1,4767353 570,541 670,750 473,114 507,348 1323,462 259,061 157,339 302,475 290,458 625,982 Bank premises 87,795 4,837 10,668 4,402 9,899 6,831 8,020 8,104 6,629 5,28l 4,888 6,768 11,468 Other assets 180,803 9,815 44,941 10,021 15,769 11,439 9,165 32,663 7,243 3,758 8,031 7,971 19,987 TOTAL ASSETS 53,883,069 2912,929 13,824,329 3219,760 4766,836 3355,587 2738,902 9345,325 2176,041 1176,879 2266,362 2077,370 6022,749 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

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JUNE l8, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 26,577,902 1581,111 6,306,322 1666,501 2475,479 2042,631 1258,480 5137,636 1179,267 544,603 1061,224 713,050 2611,598 Deposits: Member bank reserves 18,964,132 856,777 5,389,837 902,890 1501,870 807,173 938,522 3089,088 690,879 421,863 854,900 980,597 2529,736 U.S.Treas.-gen.acct. 333,823 9,714 8,758 8,366 24,112 9,208 32,065 27,418 22,625 23,045 40,829 33,488 94,195 Foreign 289,431 16,701 1/79,057 20,217 26,077 14,943 13,185 41,899 10,841 7,032 11,427 15,236 32,816 Other 182,181 618 123,485 10,572 1,289 2,466 1,154 2,060 1,109 362 2,002 1,508 35,556 Total deposits 19,769,567 883,810 5,601,137 942,045 1553,348 833,790 984,926 3160,465 725,454 452,302 909,158 1030,829 2692,303 Deferred availability -cash items 6,109,294 365,540 1,526,068 513,981 610,584 403,299 428,511 838,413 216,557 144,242 239,159 260,872 562,068 Other liabilities and -accrued dividends 22,631 1,304 6,120 1,120 2,468 1,061 1,044 3,502 721 691 779 1,187 2,634 TOTAL LIABILITIES 52,479,394 2831,765 13,439,647 3123,647 4641,879 3280,781 2672,961 9i4o,oi6 2121,999 ll4i,838 2210,320 2005,938 5868,603 CAPITAL ACCOUNTS Capital paid in 352,650 17,810 103,247 21,520 33,213 15,900 17,432 48,628 11,887 8,101 14,282 19,926 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 214,284 13.330 50,153 14.181 19.188 14.321 11,555 33.748 10.048 6.170 10.090 9.328 22.172 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,883,069 2912,929 13,824,329 3219,760 4766,836 3355,587 2738,902 9345,325 2176,041 1176,879 2266,362 2077,370 6022,749 Conting. liab. on acceptances purchased for foreign correspondents 115,681 6,595 2/32,609 7,983 10,297 5,901 5,207 16,545 4,281 2,777 4,512 6,016 12,958 Industrial loan commit. 997 — -- 6 51 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,503,127 1621,803 6,550,330 1727,701 2548,341 2120,953 1314,766 5240,927 1220,138 560,024 1091,850 760,214 2746,080 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 26,752 2,525 -- — — — 1,950 — 22,277 U. S. Govt, securities 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 1500,000 Total collateral 29,069.752 1850,000 6,870,000 1842,525 2670.000 2175.000 1425.00 05400.000 1306.95 0580-000 1142.277 808.000 1000.000 1/ After deductin.g $.2 1,03,74 ,000 participationso f other Federa lReserve Banks, 2/ After deducting $83,072,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis