H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4,1 OF THE FEDERAL RESERVE SYSTEM July 17, 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 reserve sfor the week ending $18,518 July l6 decreased $291 million to million. Estimated required reserves decreased $98 million; and estimated excess reserves decreased $193 million to $562 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $447 million, compared with $6l2 million the week before. The principal changes reducing average reserves were decreases of $194 million in U. S. Government securities bought outright and $28 million in member bank borrowings, and an increase of $93 million in foreign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $32 million in Federal Reserve float. Total Reserve Bank credit decreased $191 million. As of Wednesday, July 16, holdings of U« S» Government securities bought outright were $125 million lower than a week earlier and member bank borrowings were $15 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 16. 1958 July 9, 1958 I July 17. 1957 (In millions of dollars) Reserve Bank credit: U. S.. Government securities- Bought outright--System account 25,262 -194 +2,010 Held under repurchase agreement — -- - 67 Acceptances--bought outright 42 - 1 + 19 Loans, discounts, and advances-- Member bank borrowings 115 - 28 - 944 Other * -- 3 Float 979 + 32 - .257 Total Reserve Bank credit 26,398 -191 + 757 Gold stock 21,300 - 6 -1,325 Treasury currency outstanding 5,202 + „ 94 52,900 -197 - 473 Money in circulation 31,375 - 9 + 191 686 Treasury cash holdings + 9 - 84 Treasury deposits with F. R. Banks 497 + 8 + 42 Foreign deposits with F. R. Banks 358 + 93 - 55 - 6 Other deposits with F. R. Banks 371 + 92 Other F. R. accounts (net) 1,095 - 2 + 22 34,382 + 93 + 209 Member bank reserves-- 18,518 -291 - 682 Required reserves (estimated) 17,956 - 680 Excess reserves (estimated) 562 -193 2 * 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 21,283 Treasury cash holdings 693 Treasury currency outstanding 5,202 Member bank) - Required (est.) 17,981 Money in circulation 31*280 reserves ) - Excess (est.) 830 On July 16, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,054 million, an increase of $62 $607 million for the week and a decrease of million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since July 16, July 9, July 17, 1958 1958 1957 A S S E TS Gold certificate account 19,835,891 49,502 1,259,501 Redemption fund for F. R. notes 864,466 + 22,694 + 18,798 26,808 Total gold certificate reserves 20,700,357 - -1,240,703 26,146 F. R. notes of other Banks 328,227 + 51,051 • Other cash 343,769 + 18,005 - 11,714 Discounts and advances 113,364 - 15,360 - 530,431 Industrial loans 342 - 1 - 309 Acceptances—bought outright 40,246 - 2,002 + 17,323 U. S. Government securities: Bought outright-- Bills 2,579,710 125,100 +2,008,431 Certificates 19,946,105 -- +8,583,906 Notes -- -- 8,571,413 Bonds 2,789,257 - « - 12,493 Total bought outright 25,315,072 ~ 125,100 +2,008,431 Held under repurchase agreement -- - 67,500 Total U. S. Government securities 25,315,072 - 125,100 +1,940,931 Total loans and securities 25,469,024 - 142,463 +1,427,514 Due from foreign banks 15 — - 7 Uncollected cash items 5,818,143 +1,088,048 - 122,294 Bank premises 89,496 + 259 + 9,904 Other assets 238,281 + 15,289 - 22,550 TOTAL ASSETS 52,987,312 +1,003,381 + 14,004 L I A B I L I T I ES Federal Reserve; notes ~* 26,860,722 • 28,048 + 94,170 Deposits: Member bank reserves 18,810,861 + 297,369 136,024 U. S. Treasurer—general account 418,053 - 224,925 - 108,799 Foreign 357,721 + 93,501 - 95,788 Other 352,950 - 27,116 + 86,389 Total deposits 19,939,585 + 138,829 254,222 Deferred availability cash items 4,766,156 + 879,861 + 166,554 Other liabilities and accrued dividends 14,514 + 551 - 1,424 TOTAL LIABILITIES 51,580,977 + 991,193 + 5,078 C A P I T AL A C C O U N TS Capital paid in 354,494 + 215 + 21,219 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 215,100 + 11,973 - 73,898 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,987,312 +1,003,381 + 14,004 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.2$ - .2% - 2.5$ Contingent liability on acceptances purchased for foreign correspondents 110,394 • 1,141 + 46,484 Industrial loan commitments 991 - 767 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY l6, 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 109,088 161 14,902 547,350 16 days to 90 days 4,276 20 25,344 8,974,693 91 days to 1 year 77 13,364,558 Over 1 year to 5 years 84 1,013,614 Over 5 years to 10 years 56,610 Over 10 years 1,358.247 Total 113,364 W 40,246 25,315,072 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

n.4.i(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAMK OH JULY 16. 1958 r " "? Total Boston New York P d h el i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago L S ou t i . s M a i p n o n l e i - s Ka C n i s t a y s DDaallllaass Fran S c a i n s co {In thousands of dollars) A S S E TS Gold certificate account 19,835,891 961,248 5,248,519 1093,478 1651,282 1162,557 800,227 3652,269 803,5# 437,347 843,301 711,207 2450,872 Redemption- fund for F. R. -notes 864,466 53,04? 178,841 . 57,906 78,654 76,916 49,021 161,781 41,841 21,452 40,408 27,540 77,059 Total gold certificate reserves 20,700,357 1034,295 5,427,360 1151,384 1729,936 1239,473 849,248 3814,050 845,425 458,799 883,709 738,747 2527,931 F.R, notes of other Banks 328,227 20,497 73,105 30,622 15,226 19,082 53,659 23,981 12,221 15,210 8,945 16,565 39,114 Other cash 343,769 23,322 66,729 19,699 36,028 16,682 30,927 53,299 19,991 9,088 10,123 15,134 42,74? Discounts and advances 113,364 1,270 4,485 1,090 16,450 5,500 7,530 49,670 9,250 9,208 7,811 1,100 — Industrial loans 342 32? 15 Acceptances-- Bought outright 40,246 40,246 U. S. Govt, securities: -- -- — -- — -- Bought outright— Bills 2,579,710 l4o,46l 650,521 148,291 228,369 167,919 131,263 450,624 105,237 54,269 110,109 101,050 291,597 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 58,678 119.054 109.258 115.28k Total 25,315,072 1378,355 6,383,651 1455,211 2241,01? 1647,809 1288,10? 4422,037 1032,703 532,553 1080,523 991,617 2861,489 Held under repurchase agreement Total U. Si Govt, sees. 25,315,072 1378,355 6,383,651 1455,211 2241,017 1647,809 1288,107 4422,037 1032,703 532,553 1080,523 991,617 2861,489 Total loans & securities 25,469,024 1379,952 6,428,382 1456,301 2257,467 1653,309 1295,637 4471,707 1041,953 541,776 1088,334 992,717 2861,489 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,818,143 416,748 1,107,887 363,183 548,491 463,815 474,422 922,925 246,6?3 161,977 286,119 273,400 552,503 Bank premises 89,496 4,803 10,668 4,379 9,951 6,789 8,340 6,293 6,926 5,275 4,882 7,555 11,635 Other assets 238,281 12,780 58,820 13,443 21,094 15,352 12,190 43,193 9,525 , 5,025 10,634 „ 9,607 26,620 TOTAL ASSETS 52,987,312 2892,398 13,172,955 3039,012 4618,194 3414,503 2724,424 9337,450 2182,715 1197,148 2292,74? 2053,726 6062,040 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

3.4.1(c) STATEMENT OF CONDITC]O N OF EAC HFEDERAJ RESERVE BANK ON JULY 16 .1958 Total Boston J New York Phila- Cleve- Richmond Atlanta J Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 26,360,722 1609,900 6,346,922 1681,146 2489,608 2064,310 1290,774 5186,946 1186,476 547,368 1069,696 729,057 2658,519 Deposits: Member bank reserves 18,810,861 F U o . r S e . i g T n r eas.-gen.acct. 418,053 7 2 9 5 9 , , 1 0 1 5 9 9 3 5, 3 1 , 9 2 1 8 , 1 6 05 9 1 1 6 7 , , 7 3 0 0 9 6 14 2 9 8 2 , , 8 5 4 04 8 8 3 3 2 7 , , 6 7 6 2 8 7 2 9 2 18 , , 6 9 5 3 7 9 3 1 0 0 0 5 1 , , 4 4 0 6 5 9 7 2 1 2 0, , 5 5 5 9 3 7 4 2 3 8 6 , , 3 0 0 8 7 7 3 8 8 8 , 4 1 , 2 33 3 8 1 9 2 80 , , 7 7 7 7 8 6 2 5 6 1 4 , 0 5 , 6 4 1 9 8 357,721 19,665 1/ 110,011 23,805 Other 3.52,950. JMQ 2.92, W, ... 9,,221 30-% ^ 12,76! 8'^9 Total deposits 19,939,535 844,583 5,627,345 967,798 1552,815 891,428 958,424 3157,873 746,196 473,091 937,217 1013,109 2769,706 Deferred availability cash items 4,766,156 355,696 309,535 293,187 448,925 383,125 408,242 784,782 195,320 140,963 229,190 239,338 477,853 Other liabilities and accrued dividends 14.514 .264. -M44 660 1,681 588 594 479 601 Jll 666 1.671 TOTAL LIABILITIES 51,580,977 2811,143 12,787,546 2942,791 4493,031 3339,451 2658,034 9131,944 2128,471 1162,023 2236,622 1982,170 5907,751 CAPITAL ACCOUNTS Capital paid in 354,494 17,897 103,586 21,601 33,384 16,046 17,811 48,795 12,017 8,173 14,382 20,020 40,782 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 215,100 13,334 50,541 14.208 19.223 14.421 11.625 TL778 10.120 ..6,182 10,0.73 9.358 22.21? TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 52,987,312 ^ 1 ^ 3 9 83 4 1 4 , 5 03 2724,424 9337,420^1^^JIS2^48 .2292,71x7 2053.726 6062.0AQ Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 110, 9 3 9 9 1 4 6,293 Zl 31,127 7,617 9,825 11 5,630 4,968 15,787 4,085 2,650 4,3 9 0 4 6 0 5,741 12,365 FEDERAL RESERVE AGENTS 'ACCOUNTS F. R, notes outstanding Collat. for F. R. notes: 2 7,796,589 1656,648 6,606,816 1740,171 2553,326 2141,220 1351,090 5289,607 1230,162 563,838 1095,508 776,139 2792,064 Gold certificate acct. 11,593,000 700,000 3,270,000 640,000 1000,000 775,000 425,000 2300,000 430,000 170,000 300,000 283,000 1300,000 Eligible paper 18,151 —<• ™ 1,090 ^ 250 ft" 7,811 U. S. Govt, securities 17,420,000 1150,000 3.600.000 1200.000 1600.000 1Z,00.000 1000.000 3100.000 900*000 425.000 820.000 525.000 1700.000 Total collateraUlL pq„ _185£L£00 6.870.000 1841.090 2600.000 2175.000 1625.000 5400.000 1339.250 595.000 1127.811 808.000 3000,000 1/ After deducting $247,7% 0 00participations of other Federa lReserve Banks, 2/ After deducting $ 79,267,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis