H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release ft.4,1 OF THE FEDERAL RESERVE SYSTEM July 31, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member ban kreserves for the week ending July 30 decreased $250 millio nto $18,462 million. Estimated required reserves decreased $100 million; and estimated excess reserves decreased $150 million to $638 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $530 million, compared with $703 millio nthe week before. The principal changes reducing average reserves were decreases of $222 million in Federal Reserve float, $122 million in U. S. Government securities bought outright, and $28 million in gold stock ,and an increase of $78 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $131 millio nin money in circulation and $50 million in "other" F. R. accounts (net), and an increase of $23 million in member ban kborrowings. Total Reserve Bank credit decreased $323 million. As of Wednesday, July 30, holdings of U. S. Government securities bought outright were $307 million lower than a week earlie rand member bank borrowings were $53 million higher. As noted in last week's statement, holdings of U. S. Government securities do not include $1,090 million of the new 1 5/8 per cent Treasury certificates of indebtedness, purchased on a when-issued basis for delivery on August 1. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 30, 1958 July 23, 1950 I July 31, 1951 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,035 -122 +1,951 Held under repurchase agreement -- - 276 Acceptances—bought outright 38 - 3 + 17 Loans, discounts, and advances— Member bank borrowings 108 + 23 - 445 Other * -»«• - 1 Float 823 -222 175 - Total Reserve Bank credit 26,005 -323 +1,073 Gold stock 21,252 - 28 -1,374 Treasury currency outstanding 5,206 + 3 + 96 52,462 -349 206 - Money in circulation 31,086 -131 + 176 Treasury cash holdings 697 + 5 73 - Treasury deposits with F. R. Banks 543 + 78 + 49 Foreign deposits with F. R. Banks 300 + 7 70 - Other deposits with F. R. Banks 333 - 7 + 55 Other F. R. account s(net) l,04l - 50 + 80 34,000 - 99 + 217 18,462 t or iu 0 Member bank reserves-- 421 Required reserves (estimated) 17,824 -100 - 669 Excess reserves (estimated) 638 -150 + 246 *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 21,209 Treasury cash holdings 699 Treasury currency outstanding 5>207 Member bank) - Required (est.) 17,810 Money in circulation 31,099 reserves ) - Excess (est.) 401 On July 30, 1958, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,157 million, an increase of $13 million for the week and a decrease of $573 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 30, July 23, Jtily 31, 1958 19$8 , 1957 A SS E T S Gold certificate account 19,758,892 - 50,000 -1,346,500 Redemption fund for F. R. notes 862,162 1,995 + 21,4o4 Total gold certificate reserves 20,621,054 • 51,995 -1,325,096 F, R. notes of other Banks 375,887 5,014 8,289 Other cash 375,587 + 14,038 - 11,107 Discounts and advances 126,420 + 52,671 - 293,842 Industrial loans 342 266 Acceptances—bought outright 34,193 4,052 + 14,762 U, S. Government securities: Bought outright— Bills 2,005,560 - 357,550 +1,661,997 Certificates 19,946,105 +8,583,906 Notes 10,000 -8,561,413 Bonds 2,954,607 51,025 + 152,857 Total bought outright 24,916,272 306,525 +1,837,347 Held under repurchase agreement - 275,800 Total U. S. Government securities 24,916,272 - 306,525 +1,561,547 Total loans and securities 25,077,227 - 257,906 +1,282,201 Due from foreign banks 15 7 Uncollected cash items 4,628,586 ^ 140,889 - 244,177 Bank premises 89,679 + 11 + 9,254 Other assets f?0;34l + 15,695 - 17.846 TOTAL ASSETS 51,438,376 - 426,060 - 315,067 L I A B I L I T I ES Federal Reserve notes 26,754,240 3,551 + 82,744 Deposits: Member bank reserves 18,211,059 - 423,368 - 419,207 U. S. Treasurer—general account 561,237 + 49,003 + 56,786 Foreign 287,290 - 7,833 - 76,823 Other 332,826 4 13.645 + 36,668 Total deposits 19,392,412 - 368,553 - 402,576 Deferred availability cash items 3,891,669 - 20,263 - 84,680 m Other liabilities and accrued dividends 15,886 1 + 1.961 TOTAL LIABILITIES 50,054,207 - 391,572 - 402,551 C A P I T AL A C C O U N TS Capital paid in 354,759 106 + 17,125 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 192,669 8,754 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,438,376 - 426,060 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 44.7# .3* 2-5# Contingent liability on acceptances purchased for foreign correspondents 108,405 1,008 38,257 Industrial loan commitments 986 809 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 30, 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 123,949 161 13,298 6,960,397 § 16 days to 90 day# 2,471 20,895 2,097,546 91 days to 1 year 13,364,558 Over 1 year to 5 years 84 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 126,420 3*2 34,193 24,916,272 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF GONDII:[ ON OF EACHC FEDRERl AcL bRmESwd ERVE BANK ON JULY 30, 1958 S~ | Total J Boston New York P d h e i l l p a hi - a Atlanta Chicago | 1 ®^ B M a i p n o n l e i - s K C a i ns t a y s Dallas Fran S c a i n s co A S S E TS Gold certificate account 19,758,892 978,521 5,400,179 1074,533 1656,354 1137,914 761,299 3608,852 762,771 423,777 802,180 708,052 2444,460 Redemption fund for F, R. notes 862,162 52,816 177,811 57,526 78,265 75,773 48,820 l6l 371 41,730 21,381 42,325 27,477 76.867 f Total gold certificate reserves 20,621,054 1031,337 5,577,990 1132,059 1734,619 1213,687 810,119 3770,223 804,501 445,158 844,505 735,529 2521,327 F.R. notes of other Banks 375,887 32,227 75,476 41,247 22,213 27,238 $4,348 25,597 11,413 21,031 9,647 19,185 36,265 Other cash 375,587 26,503 73,636 21,562 39,661 19,587 33,304 58,439 20,977 8,923 10,631 15,867 46,497 Discounts and advances 126,420 2,850 24,840 4,310 15,650 10,608 6,180 14,815 19,175 12,583 5,276 3,000 7,133 Industrial loans 342 327 15 Acceptances- Bought outright 34,193 34,193 U. S. Govt, securities: Bought outright- Bills 2,005,560 109,199 505,738 115,288 177,542 130,546 102,050 350,330 8i,8l4 42,192 85,602 78,560 226,699 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 •s545 x2,523 574 885 651A i508 n1,747n 3:iit 391 1,130 Bonds 2^954*607 Total 24,910,272 6 ,» 1 %a a a a: ,501 975,995 2816,411 lob!'<ig ^ Held under repurchase agreement Total U. S. Govt, sees. 24,916,272 1356,641 6,283,087 1432,287 2205,713 1621,850 1267,815 4352,374 1016,434 524,164 1063,501 975,995 2816,4n Total loans & securities 25,077,227 1359,818 6,342,120 1436,597 2221,363 1632,458 1273,995 4367,189 1035,609 536,762 1068,777 978,995 2823,544 Due from foreign banks 15 1 1 /4 1 1 l l 2 1 2/ l 1 1 Uncollected cash items 4,628,586 322,715 836,468 317,978 415,942 351,605 364,489 719,251 188,005 124,034 296,937 255,632 435,530 Bank premises 89,679 4,768 10,852 4,357 9,923 6,745 8,367 8,293 6,929 5,249 4,882 7,556 11,758 Other assets 270.341 14,512 66,578 15,139 24,062 17,828 13.896 49,009 10,802 5.689 11,957 10,798 30.071 TOTAL ASSETS 51,438,376 2791,881 12,983,124 2968,940 4467,784 3269,149 2558,519 8998,003 2078,237 1146,846 2247,337 2023,563 5904,993 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

K.4,l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 30, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York I RichmondA tlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,754,240 1595,652 6,332,528 1676,082 2476,057 2055,723 1295,570 5169,380 1181,6l6 541,226 1066,296 728,558 2635,352 Deposits: Member tank reserves 18,211,059 760,157 5,144,288 874,856 1456,953 779,722 833,825 2910,645 649,466 423,764 828,036 951,264 2598,083 U.S.Treas.-gen.acct. 561,237 36,769 138,611 30,387 40,795 48,830 34,978 44,523 31,744 30,876 37,953 30,822 54,949 Foreign 287,290 15,618 1/90,558 18,906 24,386 13,974 12,330 39,182 10,138 6,576 10,686 14,248 30,688 Other #2,826 561 274,607 10 577 1.171 2,906 2,108 486 2,252 353 1,135 1,497 35,173 r Total deposits 19,392,412 813,105 5,648,064 934,726 1523,305 845,432 883,241 2994,836 693,600 461,569 877,810 997,831 2^18^93 Deferred availability cash items 3,891,669 302,044 619,454 262,546 343,167 293,524 313,783 629,978 148,757 108,671 247,320 225,502 396,923 Other liabilities and accrued dividends 15,886 973 3,620 662 2,028 805 646 2.296 681 621 663 851 2,040 TOTAL LIABILITIES 50,054,207 2711,774 12,603,666 2874,016 4344,557 3195,484 2493,240 8796,490 2024,854 1112,087 2192,089 1952,742 5753,208 CAPITAL ACCOUNTS Capital paid in 354,759 17,906 103,626 21,619 33,402 16,056 17,824 48,819 12,019 8,195 14,394 20,095 40,804 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 192.669 12.177 44.550 12.893 17.269 13.024 10.501 29.761 9,257 5,794 9,184 8,548 19,711 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.438.376 2791.881 12.983.124 2968.940 4467.784 3269.149 2558.519 8998.003 2078.237 1146.846 2247,337 2023,563 5904,993 Conting. liat. on acceptances purchased for foreign correspondents 108,405 6,167 2/30,717 7,466 9,630 5,518 4,869 15,473 4,003 2,597 4,220 5,627 12,118 Industrial loan commit. 986 46 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,685,853 1650,370 6,568,816 1737,191 2550,118 2127,717 1350,161 5265,505 1226,698 560,720 1094,295 780,129 2774,133 Collat. for F. R. notes: 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 Gold certificate acct. 11,593,00C Eligible paper 28,761 — 4,310 — —— — 19,175 5,276 —- U. S. Govt, securities 17.420.00C 1150.000 3.600.000 1200.000 1600.000 1400.000 1000.000 31C0.CC0 900.COO 425.000 820,CCO 525,COO 1700,000 Total collateral 29.042.7631 1850.000 6.870.000 1844.110 2600.000 2175.000 1425.000 5400.000 1349.175 595.000 1125.276 808.000 3000,000 1/ After deducting #196,732,000 participations of other Federal Reserve Banks 2/ After deducting 77,688,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis