H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Reltease H.4.1 OF THE FEDERAL RESERVE SYSTEM July 10, 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 9 decreased $50 million to $18,809 million. Estimated required reserves decreased $157 million; and estimated excess reserves increased $107 million to $790 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $64-7 million, compared with $586 million the week before. The principal changes reducing average reserves were increases of $221 million in money in circulation and $43 million in Treasury deposits with Federal Reserve Banks, and a decrease of $43 million in gold stock. The principal offsetting changes were increases of $132 million in Federal Reserve float, $46 million in member bank borrowings,and $34 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $209 million. As of Wednesday, July 9; holdings of U. S. Government securities bought outright were $18 million lower than a week earlier and member bank borrowings were $49 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week endingj Change from week ending and related items July 9, 1958 I July 2, T95H July 10, I22L (In millions of dollars) Reserve Bank credit: U, S. Government securities-- Bought outright--System account 25,456 + 37 +2,196 Held under repurchase agreement -- - 3 - 183 Acceptances-- Bought outright 43 - 1 + 21 Held under repurchase agreement - 2 1 Loans, discounts, and advances— Member bank borrowings 143 + 46 -1,070 Other * - -» 1 Float 947 +132 164 Total Reserve Bank credit 26,589 +209 + 797 Gold stock 21,306 - 43 -1,317 Treasury currency outstanding 5,202 - 1 + 94 53,097 +1^5 - 426 Money in circulation 31,384 +221 + 71 Treasury cash holdings 677 - 10 - 88 Treasury deposits with F. R. Banks 489 + 43 + 58 Foreign deposits with F. R. Banks 265 - 3 - 74 Other deposits with F. R. Banks 377 - 28 + 87 Other F. R. accounts (net) 1,097 - 8 + 20 3V,289 +216 + 74 Member bank reserves-- 18,809 - 50 - 499 Required reserves (estimated) 10,019 -157 - 713 Excess reserves (estimated) 790 +107 + 214 * 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 21,307 Treasury cash holdings 690 Treasury currency outstanding 5,201 Member bank) - Required (est,) 17,99^ Money in circulation 31,378 reserves ) - Excess (est.) 515 On July 9, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $2,992 million, an increase of $46 million for the week and a decrease of $873 million from the comparable date Digitizaed fyoer FaRrA SaEgRo . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT 6|| OF THE TWELVE FEDERAL :VE BANKS COMBINED (In thousands of dollars) Change since July 9, July 2, July 10, 1958 1958 1957 A S S E TS Gold certificate account 19,885,393 4,000 -1,210,998 Redemption fund for F. R. notes 841,772 6,377 - tS Total gold certificate reserves 20,727,165 -1,217,375 F. R. notes of other Banks 277,176 14,751 - 30,435 Other cash 325,764 4,838 4,655 Discounts and advances 128,724 48,585 - 779,536 Industrial loans 343 411 Acceptances—bought outright 42,248 1,000 + 19,325 U. S. Government securities: Bought outright— Bills 2,704,810 18,000 +2,150,781 Certificates 19,946,105 +8,583,906 Notes -8,571,413 Bonds Total bought outright 25,440,172 - 18,000 +2,150,781 Held under repurchase agreement -- - - - 40,200 Total U. S. Government securities 25,440,172 - 18,000 +2,110,581 Total loans and securities 25,611,487 + 29,585 +1,349,959 Due from foreign banks 15 7 Uncollected cash items 4,730,095 - 226,217 + 76,733 Bank premises 89,237 + 343 + 9,825 Other assets 222,992 + 14,720 - 24,904 TOTAL ASSETS 51,983,931 - 176,273 + 159,141 L I A B I L I T I ES Federal Reserve notes 26,888,770 38,696 + 36,488 Deposits: Member bank reserves 18,513,492 - 223,248 - 354,448 U. S. Treasurer—general account 642,978 + 174,956 + 235,410 Foreign 264,220 + 8,304 - 80,296 Other 380,066 - .7,032 + 100,934 Total deposits 19,800,756 -47,020 - 98,400 Deferred availability cash items 3,886,295 - 181,563 + 214,359 Other liabilities and accrued dividends 13,963 + 818 1,241 TOTAL LIABILITIES 50,589,784 - 189,069 + 151,206 C A P I T AL A C C O U N TS Capital paid in 354,279 484 + 21,200 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 203,127 + 12,312 74,870 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,963,931 - 176,273 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44,4$ 2,! Contingent liability on acceptances purchased for foreign correspondents 111,535 3,253 46,619 Industrial loan commitments 991 766 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 9, 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 125,328 162 15,587 531,450 16 days to 90 days 3,396 20 26,661 9,115,693 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 56,610 Over 10 years 1,358,247 Total 128,724 42,248 25,440,172 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK' ON JULY 9 ,1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land . Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 19,885,393 1043,560 5,523,113 1077,410 1649,573 1168,758 820,974 3497,350 778,179 432,681 798,791 692,248 2402,756 Redemption fund for F. R. notes 841,772 53,126 169,317 56,042 78,802 77,477 46,584 151,920 41,885 21,487 40,434 27,565 77,133 Total gold certificate reserves 20,727,165 1096,686 5,692,430 1133,452 1728,375 1246,235 867,558 3649,270 820,064 454,168 839,225 719,813 2479,889 F.R. notes of other Banks 277,176 12,538 64,081 23,631 14,065 16,543 48,868 21,475 8,343 12,726 6,982 16,458 31,466 Other cash 325,764 22,316 63,202 I8,4l8 37,083 15,323 29,121 51,113 18,121 8,059 9,357 14,878 38,773 Discounts and advances 128,724 2,345 1,925 1,410 15,100 3,525 1,970 85,915 600 6,658 8,376 900 16 Industrial loans 343 327 Acceptances— • Bought outright 42,248 U. S. Govt, securities: Bought outright- Bills 2,704,810 147,273 682,067 155,483 239,443 176,062 137,628 472,476 110,340 56,901 115,449 105,950 305,738 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 115511,,886699 770033,,336611 116600, 338 246,919 181,558 141,926 487,227 113,785 58,678 119,054 109.258 315,284 Total 25,440,172 1385,167 6,'4 1?5,4,01397 1462 2252,091 1655,952 1294,472 4443,889 1037,806 535,185 1085,863 996,517 2875,630 Held under repurchase agreement Total U. S. Govt, sees. 25,440,172 1385,167 6,415,197 1462,403 2252,091 1655,952 1294,472 4443,889 1037,806 535,185 1085,863 996,517 2875,630 Total loans & securities 25,611,487 1387,839 6,459,370 1463,813 2267,191 1659,477 1296,442 4529,804 1038,406 541,859 1094,239 997,417 2875,630 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,730,095 342,478 892,549 298,057 409,385 382,713 396,493 723,792 200,078 132,223 271,294 225,471 455,562 Bank premises 89,237 4,803 10,666 4,379 9,963 6,788 8,340 8,084 6,926 5,275 4,882 7,496 11,635 Other assets 222,992 12,088 54,886 12,597 19,860 14,399 11,417 40,494 8,926 4,694 10,009 8,836 24,786 TOTAL ASSETS 51,983,931 2878,749 13,237,188 2954,348 4485,923 3341,479 2658,240 9024,034 2100,865 1159,004 2235,989 1990,370 5917,742 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.k.lXc) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 9. 1958 Phila- Cleve- St. Minne- Kansas San Total Boston I New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,888,770 1610,889 6,363,732 1682,785 2487,545 2064,062 1285,349 5189,924 1185,670 548,840 1069,587 728,207 2672,180 Deposits: Member bank reserves 18,513,492 823,008 5*315,747 874,176 1465,480 819,830 906,133 2905,950 655,200 431,415 837,707 925,925 2552,921 U.S.Treas.-gen.acct. 642,978 46,944 126,917 32,008 44,506 53,175 50,637 67,902 31,736 22,690 43,250 43,984 79,229 Foreign 264,220 14,250 1/84,720 17,250 22,250 12,750 11,250 35,750 9,250 6,000 9,750 13,000 28,000 Other 380.066 • 369 323.227 9.932 912 3.501 1.539 1.150 2.361 245 1.035 1,504 34.291 Total deposits 19,800,756 884,571 5,850,611 933,366 1533,148 889,256 969,559 3010,752 698,547 460,350 891,742 984,413 2694,441 Deferred availability cash items 3,886,295 301,694 637,366 242,067 339,271 313,173 336,832 617,999 162,376 114,227 218,450 206,064 396,776 Other liabilities and accrued dividends 13.963 954 3.235 590 1.812 739 685 2.093 535 712 612 579 1.417 TOTAL LIABILITIES 50,589,784 2798,108 12,854,944 2858,808 4361,776 3267,230 2592,425 8820,768 2047,128 1124,129 2180,391 1919,263 5764,814 CAPITAL ACCOUNTS Capital paidin 354,279 17,903 103,560 21,619 33,381 16,029 17,803 48,784 11,915 8,150 14,338 20,019 40,778 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 203.127 12.714 47.402 13.509 18.210 13.635 11.058 31.549 9,715 5.955 9,590 8,910 20,880 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,983.931 2878,749 13,237.188 2954,348 4485,923 3341.479 2658.240 9024.034 2100,865 1159,004 2235,989 1990,370 5917,742 Conting. liab. on acceptances purchased for foreign correspondents 111,535 6,304 2/32,124 7,632 9,844 5,641 4,977 15,816 4,092 2,654 4,313 5,751 12,387 Industrial loan commit. 991 51 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,667,318 1644,409 6,543,362 1735,375 2552,122 2124,971 1346,772 5283,472 1225,709 563,475 1097,462 770,108 2780,081 Collat. for F. R. notes: Gold certificate acct. 11,578,000 700,000 3,270,000 640,000 1000,000 775,000 425,000 2300,000 430,000 155,000 300,000 283,000 1300,000 Eligible paper 10,386 U. S. Govt, securities 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 Total collateral 29,008.386 1850.000 6.870.000 1841.410 2600.000 2175.000 1425.000 5400.000 1330.600 580.000 1128.376 808.000 3000,000 1/ After deducting $179,500,000 participations of other Federal Reserve Banks! 2/ After deducting $ 79,411,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis