H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release 5.4.1 OF THE FEDERAL RESERVE SYSTEM June 26, 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 25 increased $364 million to $18,983 million* Estimated required reserves increased $320 million; and estimated excess reserves increased $44 million to $710 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $6ll million, compared with $491 million the week before. The principal changes supplying average reserves were an increase of $320 million in Federal Reserve holdings of U. S. Government securities, and decreases of $130 million in "other" deposits with Federal Reserve Banks,$95 million in money in circulation, and $51 million in foreign deposits with Federal Reserve + f* PfiBcipal offsetting changes were decreases of $ 1 66 million in gold stock and $76 million in member bank borrowings. Total Reserve Bank credit increased $231 million. . °£ Wednesday, June 25, holdings of U. S, Government securities bought outright were $292 million higher than a week earlier, U, S. Government securities }"Ser repurchase agreement were $ 78 million lower, and member bank borrowings were $26 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending . and related items June 25. 1958 June 18. 19581 June 26, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-*- Bought outright--System account 24,891 +310 +2,003 Held under repurchase agreement 111 + 10 + 48 Acceptances—bought outright 45 + 25 Loans, discounts, and advances-- Member bank borrowings 99 - 76 - 904 Other * 1 Float 1,024 - 296 Total Reserve Bank credit 26,170 + 876 Gold stock 21,374 -1,248 Treasury currency outstanding 5,204 ± 98 52,748 + 66 - 275 Money in circulation 30,975 - 95 + 126 Treasury cash holdings 6 98 - 78 Treasury deposits with F. R. Banks 44o - 19 - 37 Foreign deposits with F. R. Banks 280 - 51 - 127 Other deposits with F. R. Banks 229 -130 - 25 Other F. R. accounts (net) 1,144 - 2 33,765 4>9B : —S Member bank reserves-- 1 8 , 9 83 - 188 Required reserves (estimated) 18,273 - 352 Excess reserves (estimated) 710 + 164 * 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 21,356 Treasury cash holdings 7 00 Treasury currency outstanding 5,204 Member bank) - Required (est.) 18.224 Money in circulation 30,973 reserves ) - Excess (est.) 344 On June 25, 1 9 5 8, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $ 2 , 9 99 million, a decrease of $113 million for the week and a decrease of $ 7 55 million from the comparable Digidtizaedte f oar FyReAaSrER ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(a) STATEMENT OF COSDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 25# June % June 26, 1958 1958 1957 A S S E TS Gold certificate account 19,934,391 9 9 , 0 00 -1,165,000 Redemption fund for F. R. notes 832,389 2 j . 11 - 12,875 Total gold certificate reserves 20,766,780 - 1 0 1 , 1 11 -1,177)875 + 6 , 0 07 F. R. notes of other Banks 338,253 + 20)597 Other cash 351,227 + 13,055 + 10,238 - 2 6 , 0 16 - 6 9 6 , 0 68 Discounts and advances 127,979 Industrial loans 343 138 401 Acceptances—bought outright 43,224 2 + 23,308 U. S. Government securities: Bought outright— Bills 2,220,360 + 2 9 2 , 1 00 +2,045,147 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 24,955,722 + 2 9 2 , 1 00 +2,045,147 Held under repurchase agreement 44,000 78,000 + 44,000 Total U. S. Government securities 24,999,722 + 214,100 +2,089*147 Total loans and securities 25,171,268 + 187,944 + 1 , 4 1 5 > 9 86 Due from foreign banks 15 7 D Uncollected cash items 5,098,192 -1,994,631 - 125,833 Bank premises 88,261 + 466 + 9,091 Other assets 193,903 + 13,100 - 26,043 TOTAL ASSETS 52*007*899 -1,875,170 + 126,154' L I A B I L I T I ES Federal Reserve noteU 26,569,455 8,447 + 34,140 Deposits: Member bank reserves 18,567,677 - 396,455 60,531 U. S. Treasurer—general account 523,657 h 189,834 68,133 Foreign 268,413 - 21,018 141,393 Other 384,609 h 202,428 112,444 Total deposits 19,744,356 : 2 5 , 2 11 21,347 Deferred availability cash items 4,302,180 -1,807,114 + 107,564 Other liabilities and accrued dividends 1,049 + TOTAL LIABILITIES 5 0 , 6 3 9 , 6 71 -1,839,723 + 121,399 C A P I T AL A C C O U N TS Capital paid in 3 5 3 , 1 29 + 479 + 20,457 Surplus (Section 7) 8 0 9 , 1 98 + 6 1 , 6 05 Surplus (Section 13b) 2 7, 5 43 -- Other capital accounts 1 7 8 , 3 58 - 3 5 , 9 26 - 77,307 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5 2 , 0 0 7 , 8 99 -1,875,170 126,154 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8$ .2$ - 2.6# Contingent liability on acceptances purchased for foreign correspondents 115,041 640 + 5 3 , 6 30 Industrial loan commitments 991 6 787 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 25. 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 125,798 153 16,529 554,200 16 days to 90 days 2,181 29 26,695 8 , 6 5 2 , 4 93 91 days to 1 year 73 13,364,558 Over 1 year to 5 years 88 1,013,614 Over 5 years to 10 years 5 6 , 6 10 Over 10 years 1,358,247 Total 127,979 m 43,224 2^,999,722 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JUNE 25, 1958 Phila- Cleve St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphla land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 1 9, 9 3 4, 3 91 951,669 5,978,126 1056,734 1676,790 1092,135 756,164 3642,690 743,070 406,457 6 6 7 , 0 65 722,768 2240,723 Redemption fund for F. R. notes 8 3 2 , 3 89 53,378 170,360 56.459 75,215 78,666 46,792 147,378 42,011 21,558 40,531 27,646 72.395 Total gold certificate reserves 2 0 , 7 6 6 , 7 80 1005,047 6,148,486 1113,193 1752,005 1170,801 802,956 3790,068 785,081 428,015 707,596 750,414 2313,118 F.R. notes of other Banks 3 3 8, 2 53 14,247 85,920 26,116 27,464 18,921 50,938 26,438 13,477 14,198 7,567 17,862 35,105 Other cash 3 5 1 , 2 27 23,483 65,463 21,069 38,074 17,538 29,979 52,507 20,850 8,274 10,706 17,003 46,281 Discounts and advances 1 2 7, 9 79 10,835 10,160 5,345 17,363 12,575 9,490 26,465 4,600 5,650 17,496 800 7,200 Industrial loans 343 327 16 Acceptances-- Bought outright 43,224 — — 43,224 -— -— -— — — — «• U. S. Govt, securities: Bought outright-- Bills 2,220,360 120,895 559,904 127,635 196,557 144,528 112,978 387,852 90,578 46,710 94,771 86,974 250,978 Certificates 19,946,105 1086,025 5,029,769 1146,582 1765,729 1298,332 1014,918 3484,186 813,681 419,606 - 8 5 1 , 3 60 781,309 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 24,955,722 1358,789 6,293,034 1434,555 2209,205 1624,418 1 2 6 9 , 8 22 4 3 5 9 , 2 65 1 0 1 8 , 0 44 5 2 4 , 9 94 1 0 6 5 , 1 85 9 7 7 , 5 41 2 8 2 0 , 8 70 Held under-repurchase agreement 44.000 44.000 "Total U. S. Govt, sees. 24.999,722 1358,789 6, 3 3 7, 0 34 1434,555 2209,205 1 6 2 4 ,4 l8 1 2 6 9 , 8 22 4 3 5 9 . 2 65 1018.044 5 2 4 . 9 94 1 0 6 5 , 1 85 977,541 2820,870 Total loans & securities 25,171,268 1369,951 6,390,418 1439,900 2 2 2 6 , 5 68 1636,993 1279,312 4385,730 1 0 2 2, 6 44 5 3 0 , 6 60 1 0 8 2 , 6 81 978,341 2 8 2 8 , 0 70 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,098,192 3 6 9 , 6 25 952,027 328,998 467,821 404,452 406,940 777,367 200,035 131,E31 293,990 2 9 0 , 0 98 475,008 Bank premises 88,261 4,803 10,685 4,379 9,916 6,801 8,339 8,104 6,739 5 , 2 81 4,888 6 , 7 69 11,557 Other assets 193,903 10,435 47,394 10,746 17.405 12,476 9.867 35,190 7.669 4.045 8.660 8.491 21.525 TOTAL ASSETS 52,007,899 2797,592 13,700,397 2944,402 4539,254 3267,983 2588,332 9075,406 2 0 5 6 , 4 96 1 1 2 2, 3 04 2 1 1 6 , 0 89 2068,979 5730,665 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) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 25, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louie apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,569,455 1585,136 6,309,991 1666,422 2473,203 2045,635 1260,548 5131,086 1175,392 542,255 1055,235 712,925 2611,627 Deposits: Member bank reserves 18,567,677 775,997 5,391,703 867,528 1494,920 791,132 901,149 3044,301 657,947 421,443 770,994 976,422 2474,141 U.S.Treas.-gen.acct. 523,657 545 515,028 596 570 517 535 501 546 2,184 561 592 1,482 Foreign 268,413 15,276 1/75,989 18,492 23,852 13,668 12,060 38,324 9,916 6,432 10,452 13,936 30,016 Other 384.609 564 329,772 10.081 853 2.018 1.010 828 1.594 318 1.024 1.451 35.096 Total deposits 19,744,356 792,382 6,312,492 896,697 1520,195 807,335 914,754 3083,954 670,003 430,377 783,031 992,401 2540,735 Deferred availability cash items 4,302,180 339,468 696,212 286,181 421,375 341,266 347,664 658,049 157,466 114,488 222,332 292,250 425,429 Other liabilities and accrued dividends 23.680 .1*222- 6,072 1.089 2.637 1.192 1.159 3.609 809 730 924 1.269 2.861 TOTAL LIABILITIES 50,639,671 2718,315 13,324,767 2850,389 4417,410 3195,428 2524,125 8876,698 2003,670 1087,850 2061,522 1998,845 5580,652 / CAPITAL ACCOUNTS Capital paid in 353,129 17,825 103,529 21,521 33,251 15,907 17,447 48,669 11,893 8,122 14,301 19,960 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 2,140 Other capital accounts 178.358 .11,428 40,819 12,080 16,037 12^63 9., 806 27,10.6 8.826 5.562 8.596 7.996 18.039 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,007,899 2797.592 13.700.397 2944.402 4539.254 3267.983 2588.332 9075.406 2056.496 1122.304 2116.089 2068.979 5730.665 Conting. liab. on acceptances purchased for foreign correspondents 115,041 6,555 2/32,471 7,935 10,235 5,865 5,175 16,445 4,255 2,760 4,485 5,980 12,880 Industrial loan commit. QQi ,51. 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 2 7 , 4 8 3 , 3 0 8j 1 6 2 8 , 1 86 6,540,763 1724,716 2550,151 2123,309 1316,905 5230,836 1217,418 559,211 1086,170 761,644 2743,999 Collat. for F. R. notes: Gold certificate acct. 11,948,00C 700,000 3,270,000 640,000 1070,000 775,000 425,000 2400,000 430,000 155,000 300,000 283,000 1500,000 Eligible paper 27,441 — 5,345 — — — 4,600 — 17,496 — U. S. Govt, securities 17.095.00C . 1150.000 3,600,000 1200.000 1600,000 1400.0C0 1000,000 3000,000 875,000 425,000 820,COO 525,CCO 15CO,000 Total collateral 29.070.443J 1850.000 6,870.000 1845.345 2670.000 2175.000 1425.000 5400,000 1309,600 580.000 1137.496 808.000 3000.000 1/ After deducting f192,424,000 participations of other Federal Reserve Banks 2/ After deducting $ 82,570,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis