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 24, 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 23 increased $19U million to $18712 million. Estimated required reserves s decreased $32 million; and estimated excess reserves increased $226 million to $788 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $703 million, compared with $hhl million the week before. The principal changes supplying average reserves were an increase of $66 million in Federal Reserve float, and decreases of $158 million in money in circulation, $65 million in foreign deposits with Federal Reserve Banks, and $32 million in Treasury deposits with Federal Reserve Banks, The principal offsetting changes were decreases of $10$ million in U, S, Government securities bought outright, $30 million in member bank borrowings, and $20 million in gold stock. Total Reserve Bank credit decreased $70 million. As of Wednesday, July 23, holdings of U. S, Government securities bought outright were $92 million lower than a week earlier and member bank borrowings were #0 million lower. Holdings of U, S, Government securities do not include $1,090 million of the new issue of certificates purchased on a when-issued basis for delivery on August 1 or $51 million of Treasury bonds purchased for delivery July 2I4.5 they do include, however, $197 million of maturing bills subsequently redeemed on July 2iu Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 23, 1958 July 16, 1950 I July 24, 1957 (In millions of dollars Reserve Bank credit: U. S. Government securities— Bought outright—System account 25,157 -105 +1,922 Held under repurchase agreement •• mm mm - 107 Acceptances--bought outright ia - 1 -+ 18 Loans, discounts, and advances— Member bank borrowings 85 - 30 — 65I1 Other * mmmm 1 Float __i,oU5 + 66 - 306 Total Reserve Bank credit -r-jQ ~W7T Gold stock 21,280 - 20 -1,31*5 Treasury currency outstanding 5,203 + 1 + 95 52,811 • 89 - 379 Money in circulation 31>217 -158 + 218 Treasury cash holdings 692 + 6 *. 82 Treasury deposits with F. R. Banks U65 - 32 — U2 Foreign deposits with F. R. Banks 293 — 65 - 92 Other deposits with F. R. Banks 3U0 - 31 + 73 Other F. R. accounts (net) 1,091 - h + 21 31,099 -283 + 98 Member bank reserves— 18,712 +19U — U77 Required reserves (estimated) 17,921 - 32 -*• ~m Excess reserves (estimated) 788 +226 + 167 * 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 21,259 Treasury cash holdings 698 Treasury currency outstanding 5,205 Member bank) - Required (est;) 17,888 Money in circulation 31,108 reserves ) - Excess (est.) 7U6 On July 23, 1958, U, Si Government securities held in custody by the Federal Reserve Banks for foreign account were $3,lVt million, an increase of $90 million for the week and a decrease of $583 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 23, July 16, July 24, 1958 1958 1957 A S S E TS 26,999 -1,286,502 Gold certificate account 19,808,892 Redemption fund for F. R. notes 864,157 309 + 21,571 Total gold certificate reserves 20,673,049 27,308 -1,264,931 F. R. notes of other Banks 380,901 + 52,674 - 15,935 Other cash 361,549 + 17,780 - 15,273 Discounts and advances 73,749 39,615 - 332,127 218 Industrial loans 342 Acceptances—bought outright 38,245 2,001 + 16,704 U. S. Government securities: Bought outright— Bills 2,363,110 216,600 +1,913,531 Certificates 19,946,105 +8,583,906 Notes 10,000 + 10,000 -8,561,413 Bonds 2,903,5.82 + _114jJ2J + 101,812 Total bought outright 25,222,797 92,275 +2,037,856 Held under repurchase agreement - 275,800 Total U. S. Government securities 25.222.797 92.275 +1.762.056 Total loans and securities 25,335,133 - 133,891 +1,446,415 Due from foreign "banks 15 7 Uncollected cash items 4,769,475 -1,048,668 40,166 Bank premises 89,668 + 172 + 9,306 Other assets 254,646 + 16,365 - 20,515 + 98,894 TOTAL ASSETS 51.864]43S -1,122,076 L I A B I L I T I ES 26,757,791 - 102,931 + 98,513 Federal Reserve notes Deposits: - 125,005 18,634,427 - 176,434 Member bank reserves U. S. Treasurer--general account 512,234 + 94,181 + 42,799 - 87,881 Foreign 295,123 - 62,598 319,181 - 33,769 + 41,775 Other - 178,620 120,312 Total deposits 19,760,965 Deferred availability cash items 3,911,932 - 854,224 + 117,943 + 1,060 Other liabilities and accrued dividends 15,091 + 577 TOTAL LIABILITIES 50,445,779 -1,135,190 + 89,204 C A P I T AL A C C O U N TS Capital paid in 354,653 159 + 20,713 61,605 Surplus (Section 7) 809,198 Surplus (Section 13b) 27,543 Other capital accounts 227.263 + 12.163 72,628 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.864.436 -1,122,876 +_ 98,894 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44,4% .2% 2,7$ Contingent liability on acceptances purchased for foreign correspondents 109,413 981 + 42,093 Industrial loan commitments 986 5 857 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 23. 1958 (Acceptances and securities held under repurchase agreement are classified ae 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 70,503 161 11,585 7,107,847 l6 days to 90 days 3,246 29 26,660 2,275,646 91 days to 1 year 68 13,364,558 Over 1 year to 5 years 84 1,023,614 Over 5 years to 10 years 70,910 Over 10 years UU3SQV222. Total 73,749 342 38,245 25,222,797 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 23, 1958 H.4.1(b) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS 19,808,892 1012,905 5,458,321 1088,236 1628,215 1125,746 842,012 3541,808 777,814 416,210 804,630 669,696 2443,299 Gold certificate account Redemption fund for F. R. notes 864.157 52.930 178.265 57.711 78.462 76.266 48.913 l6l.571 41.785 21.4l6 42.366 27.507 76.965 Total gold certificate reserves 20,673,049 1065,835 5,636,586 1145,947 1706,677 1202,012 890,925 3703,379 819,599 437,626 846,996 697,203 2520,264 F.R. notes of other Banks 380,901 28,306 81,408 37,637 20,085 25,339 55,739 27,463 13,460 19,743 11,852 20,379 39,490 Other cash 361,549 24,964 71,661 21,157 38,561 17,160 31,400 55,146 19,480 9,112 11,384 16,213 45,311 1,435 14,470 8,450 3,260 9,670 12,350 2,708 7,206 2,100 2,115 Discounts and advances 73,749 2,450 7,535 Industrial loans 342 327 15 Acceptances— Bought outright 38,245 38,245 U. S. Govt, securities: Bought outright— Bills 2,363,110 128,667 595,901 135,841 209,194 153,819 120,242 412,788 96,401 49,713 100,865 92,565 267,114 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 10,000 545 2,523 574 885 651 508 1,747 409 210 427 391 1,130 Bonds 2.903.582 158.094 732.189 166.910 257.040 189.000 147.744 507.197 118.448 61.083 123,933 113,737 328,207 Total 25,222,797 1373*331 6,360,382 1449,907 2232,848 1641,802 1283,412 4405,918 1028,939 530,612 1076,585 988,002 2851,059 Held under repurchase agreement 1373,331 6,360,382 1449,907 2232,848 1641,802 1283,412 4405,918 1028,939 530,612 1076,585 988,002 2851,059 Total U. S. Govt, sees. 25.222.797 Total loans & securities 25,335,133 1376,108 6,406,162 1451,342 2247,318 1650,252 1286,672 4415,588 1041,289 533,335 1083,791 990,102 2853,174 1 1 /4 1 1 l 1 2 1 2/ 1 11 Due from foreign "banks 15 Uncollected cash items 4,769,475 353,801 8587419 316,703 416,331 365,904 399,479 736,995 201,667 135,612 254,719 254,372 475,473 Bank premises 89,668 4,803 10,833 4,357 9,924 6,781 8,450 8,293 6,926 5,275 4,882 7,555 H,$89 Other assets 254.646 13.742 62.841 14.311 22.545 16.390 13.045 46.247 10.173 5.389 11,332 10,24% 28,384 TOTAL ASSETS 51,864,436 2867,560 13,127,914 2991,455 4461,442 3283,839 2685,711 8993,113 2112,595 1146,092 2224,957 1996,072 5973,686 1/ After deducting $11,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ Less than $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 23, 1958 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,757,791 1602,012 6,326,541 1677,593 2480,476 2056,097 1282,282 5175,662 1181,684 544,801 1063,020 728,203 2639,420 Deposits: Member hank reserves 18,634,427 820,253 5,349,954 887,184 1440,045 795,435 932,532 2909,692 680,139 417,646 836,764 939,575 2625,208 U.S.Treas.-gen.acct. 512,234 32,595 70,728 44,032 43,243 34,712 47,855 52,297 25,201 23,959 52,585 19,181 65,846 Foreign 295,123 16,074 2/92,647 19,458 25,098 14,382 12,690 40,326 10,434 6,768 10,998 14,664 31,584 Other 319,181 407 257,117 10,855 1,796 2,914 1.334 775 1,522 211 2,262 1,510 38,478 Total deposits 19,760,965 869,329 5,770,446 961,529 1510,182 847,443 994,411 3003,090 717,296 448,584 902,609 974,930 2761,116 Deferred availability •sash items 3,911,932J 313,305 638,859 254,811 342,739 303,749 341,344 604,395 158,336 116,686 201,981 220,088 415,639 Other liabilities and accrued dividends 15.091 1,036 3,524 603 1.807 704 674 2.220 566 669 697 785 1,806 TOTAL LIABILITIES 50,445,779 2785,682 12,739,370 2894,536 4335,204 3207,993 2618,711 8785,367 2057,882 1110,740 2168,307 1924,006 5817,981 CAPITAL ACCOUNTS Capital paid in 354,653 17,902 103,589 21,608 33,395 16,056 17,821 48,809 12,019 8,183 14,387 20,082 40,802 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 227.263 13.952 14.899 20.287 15.205 12.225 36.004 10.587 .6,399 10,593 9.806 23,633 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,864,436 2867,560 13,127,914 2991,455 4461,442 3283,839 2685,711 8993,113 2112,595 11&6,092 2224,957 1996,072 5973,686 Conting, liab. on acceptances purchased for foreign correspondents 109,413 6,236 2/30,864 7,548 9,736 5,579 4,923 15,644 4,'048 2,626 4,267 5,689 12,253 Industrial loan commit. 986 46 —" 940 — — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,713,29811650,447 6,582,650 1741,854 2547,689 2136,109 1343,835 5273,939 1224,112 562,284 1094,530 775,860 2779,989 Collat. for F. R. notes: Gold certificate acct. ll,593,00q 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 20,99% — — 1,435 — —— —— — 12,350 7,206 — —— 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 1 6 7.w2v.9.033.9 9/ 1>1 x1v8 50.000 6.870.000 1841.435 2600.000 2175.0C0 1625.000 5400,000 1342.350 595.000 1127.206 808.000 3000,005" 1/ After deducting $202,476,000participations of other Federal Reserve Banks. |/ After deducting 78, 549,000,participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis