H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD 6? GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM July 3, 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 July 2 decreased $124 million to $18,859 million. Estimated required reserves decreased $108 million; and estimated excess reserves decreased $16 million to $683 million. Excess reserves exceeded member bank "borrowings at the Federal Reserve Banks by $ 5 86 million, compared with $600 millio nthe week before. The principal changes reducing average reserves were decreases of $209 million in Federal Reserve float, $108 million in U. S, Government securities held under repurchase agreement, and $25 million in gold stock, and increases of $188 million in money in circulation and $1?6 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $528 million in U« S. Government securities bought outright and a decrease of $39 million in other" F. R. accounts (net), Total Reserve Bank credit increased $210 million. ^•s °£ Wednesday, July 2, holdings of U. S. Government securities bought outright were $502 million higher than a week earlier, U. S. Government securities Apn61* repurchase agreement were $44 million lower, and member bank borrowings were $48 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending u and related items July 2, 1958 I June 25, 1958 July 3, 1957 (In millions of dollars) Reserve Bank credit; U. S. Government securities-- Bought outright—System account 25,419 +528 +2,388 Held under repurchase agreement 3 -108 64 Acceptances-- Bought outright 44 - 1 + 23 Held under repurchase agreement 2 + 2 + 1 Loans, discounts, and advances-- Member bank borrowings 97 - 2 - 970 Other * - — 1 Float . 815 -209 - 383 Total Reserve Bank credit 2 6 , 3 80 +210 + 993 Gold stock 21,349 - 25 -1,274 Treasury currency outstanding 5,203 - 1 + 96 52,932 - 185 Money in circulation 31,163 +188 + 13 Treasury cash holdings Treasury deposits with F. R. Banks 687 -11 - 76 446 + 6 - 100 Foreign deposits with F. R. Banks 268 - 12 Other deposits with F. R. Banks - 152 Other F. R. accounts (net) 405 +176 + 1 09 1,105 - 39 + 28 34,073 + 3 08 Member bank reserves-- Required reserves (estimated) Excess reserves (estimated) *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 21,306 Treasury cash holdings 675 Treasury currency outstanding 5,202 Member bank) - Required (est.) 18,203 Money in circulation 31,358 reserves ) - Excess (est.) 534 On July 2, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,946 million, a decrease of $53 million for the week and a decrease of $812 million from the comparable date a year ago. I H DO 18,859 -124 6 1 8 , 1 76 -108 - 345 683 - 16 + 339 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 2, June 25, July 3, 1958 1958 1957 A SS E TS Gold certificate account 19,889,393 - 44,998 -1,206,998 Redemption fund for F. R. notes 842,389 h 10,000 5,760 Total gold certificate reserves 20,731,782 - 34,998 -1,212,758 F. R. notes of other Banks 262,425 • 7 5 , 8 28 + 560 Other cash 330,602 - 2 0 , 6 25 + 17,827 Discounts and advances 80,139 • 47,840 -1,026,174 Industrial loans 343 387 Acceptances: Bought outright 43,248 24 + 21,323 Held under repurchase agreement 890 U. S, Government securities: Bought outright-- Bills 2,722,810 502,450 +2,289,681 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds 2,789,257 - 12,493 Total bought outright 25,458,172 502,450 +2,289,681 Held under repurchase agreement 44,000 - 235,800 Total U. S. Government securities 25,458,172 +_ 458,450 +2,053,881 Total loans and securities 25,581,902 + 410,634 +1,047,753 Due from foreign banks . 15 „ 7 Uncollected cash items 4,956,312 - 141,880 - 66,515 Bank premises 88,894 + 633 + 9,620 Other assets 208,272 + 14,369 2 6 , 3 02 TOTAL ASSETS 52,160,204 + 152,305 - 229,822 L I A B I L I T I ES Federal Reserve notes ~~ 26,850,074 2 8 0 , 6 19 - 43,418 Deposits: Member bank reserves 18,736,740 1 6 9 , 0 63 - 283,473 U. S. Treasurer—general account 468,022 55,635 - 84,290 Foreign 255,916 12,497 - 1 5 8 , 2 67 Other 387,098 2,489 + 1 2 2 , 6 21 Total deposits 19,847,776 103,420 - 403,409 Deferred availability cash items 4,067,858 - 234,322 + 213,209 Other liabilities and accrued dividends 13,145 - 10,535 2,496 TOTAL LIABILITIES 50,778,853 + 139,182 - 236,114 C A P I T AL A C C O U N TS Capital paid in 353,795 666 + 20,833 Surplus (Section 7) 809,198 + 6 1 , 6 05 Surplus (Section 13b) 27,543 Other capital accounts 190,815 12,457 76,146 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,160,204 + 152,305 - 2297822 Ratio of gold certificate reserves to deposit and F. R» note liabilities combined 44,4$ 2.1# Contingent liability on acceptances purchased for foreign correspondents 114,788 253 50,556 Industrial loan commitments 991 790 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 2, 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 77,348 162 14,343 553,300 l6 days to 90 days 2,791 20 28,905 9,111,843 91 days to 1 year 72 13,364,558 Over 1 year to 5 years 89 1,013,614 Over 5 years to 10 years 5 6 , 6 10 Over 10 years Digitized for FRASER 1,358,247 http://fraser.sTtlooutisafeld. org/ 80,139 25,458,172 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF C0NDIT1C ON OF EACH FEDERA] RESERVE BANK ON JULY 2. 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta J Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 19,889,393 1 0 2 5 , 0 75 5,645,009 1 0 3 1 , 8 18 1644,464 1 1 7 7 , 8 10 8 2 0 , 6 81 3 5 6 9 , 8 21 7 7 3 , 9 82 421,961 790,271 692,884 2 2 9 5 , 6 17 Redemption fund for F. R» notes 842,389 53,378 170,360 56,459 75,215 78,666 46,792 152,378 42,011 21,558 40,531 27,646 77,395 Total gold certificate reserves 20,731,782 1 0 7 8 , 4 53 5,815,369 1088,277 1719,679 1 2 5 6 , 4 76 867,473 3722,199 8 1 5 , 9 93 443,519 8 3 0 , 8 02 7 2 0 , 5 30 2373,012 F.R. notes of other Banks 262,425 10,245 57,092 2 0 , 0 46 1 6 , 6 88 1 6 , 1 72 51,925 20,893 6,978 14,880 5,277 15,312 26,917 Other cash 330,602 22,482 5 8 , 6 05 1 7 , 8 09 36,970 17,007 31,584 51,232 19,090 9,199 9,913 15,405 41,306 21,661 800 Discounts and advances 80,139 3,640 3,920 1 , 7 10 9 , 1 00 5 , 4 50 2 , 8 40 2 7 , 0 45 1 , 3 40 2,633 Industrial loans 343 327 16 Acceptances-- Bought outright 43,248 43,248 U. S. Govt, securities: Bought outright— Bills 2,722,810 148,253 6 8 6 , 6 06 1 5 6 , 5 18 241,037 177,233 138,544 475,620 111,075 57,280 116,217 1 0 6 , 6 55 307,772 Certificates 19,946,105 1 0 8 6 , 0 25 5,029,769 1 1 4 6 , 5 82 1765,729 1 2 9 8 , 3 32 1 0 1 4 , 9 18 3 4 8 4 , 1 86 8 1 3 , 6 81 4 1 9 , 6 06 8 5 1 , 3 60 7 8 1 , 3 09 2 2 5 4 , 6 08 Notes Bonds 2,789,257 1jL5jX1y,Q8oy6 d9iH 7r0O3fy,x3y61 160,338 246,919 ± H1r±8 9 y1c,:v5 58 141,926 487,227 113,785 5 8 , 6 78 119,054 1 0 9 , 2 58 315,284 Total 25,458,172 1386,147 6,419,736 1463,438 2253,685 1657,123 1295,388 4447,033 1038,541 535,564 1086,631 997,222 2877,664 jBeld under repurchase agreement Total U. S. Govt, sees. 25,458.172 1386,147 6,419,736 1463,438 2253,685 1657,123 1295,388 4447,033 1038,541 535,564 1 0 8 6 , 6 31 997,222 2877,664 Total loans & securities 25,581,902 1 3 9 0 , 1 14 6 , 4 6 6 , 9 04 1 4 6 5 , 1 48 2 2 6 2 , 7 85 1662,573 1 2 9 8 , 2 28 4 4 7 4 , 0 78 1 0 3 9 , 8 81 538,213 1 1 0 8 , 2 92 9 9 8 , 0 22 2 8 7 7 , 6 64 Due. from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,956,312 3 6 0 , 6 89 944J644 307,013 457,498 401,630 4 0 6 , 0 41 7 6 8 , 1 76 203,054 124,875 247,038 2 5 2 , 8 12 482,842 Bank premises 88,894 4,803 1 0 , 6 66 4,379 9,915 6 , 7 88 8,339 8,084 6,733 5,278 4,882 7,470 11,557 Other assets 208,272 11,190 51,143 11,757 18,781 13,433 10,688 37,805 8,354 4,506 9,350 8,230 23,035 TOTAL ASSETS 52,160,204 2877,977 13,404,427 2914,430 4522,317 3374,080 2674,279 9082,469 2100,084 1140,470 2215,555 2 0 1 7 , 7 82 5836,334 l/ 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 BAM OH JULY 2. 1958 Total Boston | New York EictoBond Atlanta Chicago "Sty* Dallas FranSsco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEE SSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,850,074 1604,491 6,382,965 1682,571 2477,818 2064,812 1280,289 5172,070 1183,450 545,268 1066,731 722,851 2666,758 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr tttttaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,736,740 816,912 5,505,835 829,402 1476,380 804,545 968,639 2939,148 677,778 426,089 852,296 969,299 2470,417 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 468,022 37,918 49,281 19,732 32,026 83,654 14,046 76,456 16,612 21,006 37,478 23,191 56,622 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 255,916 14,592 2/ 72,108 17,664 22,784 13,056 11,520 36,608 9,472 6,144 9,984 13,312 28,672 OOOOOttttthhhhheeeeerrrrr 387,098 354 329,088 9,690 1,353 2,897 1,397 870 890 319 1,401 1,967 36,872 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,847,776 869,776 5",956,312 876,458 1532,543 904,152 995,6U2 3053,082 YU4,V>z 453,558 901,159 iwy,yw DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,067,858 322,876 682,846 260,004 387,028 331,169 332,620 653,976 158,135 166,488 192,133 216,151 424,432 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd -----aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 13.145 873 3.236 617 1.881 586 561 2,357 471 508 508 415 1,132 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,778,853 2798,016 13,025,359 2819,680 4399,270 3300,719 2609,072 8881,485 2046,808 1105,822 2160,531 1947,186 5684,905 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 353,795 17,844 103,545 21,531 33,370 15,928 17,783 48,729 11,896 .8,142 14,321 19,963 40,743 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 2,140 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 190,815 12,093 44,241 12,807 17,121 12,848 10,470 29,322 9,273 5,736 9,033 8,455 19,416 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,160,204 2877,977 13,404,427 2914,430 4522,317 3374,080 2674,279 9(82,469 2100,084 1140,470 2215,555 2017,782 5836,334 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 114,785 6,544 2/32,362 7,921 10,217 5,855 5,166 16,416 4,248 2,755 4,477 5,970 12,857 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 991 FEDERAL RESERVE AGENTS' ACCOUNTS FF,, RR.. nnootteess oouuttssttaannddiinngg 27,606,523 1636,430 6,554,190 1732,950 2550,897 2132,950 1323,055 5266,156 1220,485 559,458 1091,188 762,234 2776,530 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,648,000 700,600 3,270,000 640,000 1070,000 775,000 425,000 2300,000 430,C00 155,000 300,000 283,000 1300,000 EElliiggiibbllee ppaappeerr 24,711 1,710 —- 1,340 21,661 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17.420.000 1150.000 3.600.000 1200.000 1600,000 1400,000 1000,000 3100,000 900,000 425,000 820,000 525,000 1700,000 TToottaall ccoollllaatteerraall 29.092.Till 1850.000 6.370.000 1841,710 2670.000 2175,000 1425,000 5400,000 1331,340 580,000 1141,661 808,000 3000,000 -1- /// ——::A JJf.. t^^er deducting $18 3'', 808,000participations of other Federal Reserve Banks. 2/ After deducting $ 82,426,COO participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis