H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM August 7, 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 August 6 decreased $166 million to $18,296 million. Estimated required reserves decreased $92 million; and estimated excess reserves decreased $74 million to $560 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $448 million, compared with $526 millio nthe week before. The principal changes reducing average reserves were increases of $119 million in Treasury deposits with Federal Reserve Banks, $107 million in other F. R. accounts (net), and $84 million in money in circulation, and a decrease of $57 million in gold stock. The principal offsetting change was an increase of $205 million in U. S. Government securities bought outright. Total Reserve Bank credit increased $207 million. As of Wednesday, August 6, holdings of U. S. Government securities bought outright were $442 million higher than a week earlier and member bank borrowings were $140 million higher. Holdings of Treasury certificates increased $1,561 million and bonds decreased $471 million, reflecting the exchange of $471 million of bonds called for payment on September 15 for the new 1 5/8 per cent Treasury certificates of indebtedness and the previously reported purchase of $1,090 million of the new certificates on a when-issued basis. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 6, 1958 July 30, 19581August 7, 1957 (In millions of dollars) Reserve Bank credit; U, S. Government securities-- Bought outright—System account 25,240 +205 +2,162 Held under repurchase agreement - 38 — - - Acceptances—bought outright 33 - 5 + 13 Loans, discounts, and advances-- Member bank borrowings 112 + 4 - 948 Other * — — 1 Float 628 + 5 - 100 Total Reserve Bank credit 26,212 +207 +1,088 Gold stock 21,195 - 57 -1,432 Treasury currency outstanding 5,207 + 1 + 94 52,615 +153 - 249 Money in circulation 31,170 + 84 + 187 Treasury cash holdings 69 8 + l 69 Treasury deposits with F. R. Banks 652 +119 + 164 Foreign deposits with F. R. Banks 291 - 9 64 Other deposits with F. R. Banks 350 + 17 + 73 Other F. R. accounts (net) 1,148 +107 + 32 34,319 +319 + 323 Member bank reserves- 18,296 -166 - 572 Required reserves (estimated) 17,736 - 92 - 595 Excess reserves (estimated) 560 - 74 + 23 * 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 21,160 Treasury cash holdings 702 Treasury currency outstanding 5,209 Member bank) - Required (est.) 17,727 Money in circulation 31,220 reserves ) - Excess (est.) 822 On August 6, 1958, U. 8. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,226 million, an increase of $69 million for the week and a decrease of $530 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since August 6, July 30, August 7, 1958 1958 1957 A S S E TS Gold certificate account 19,708,893 - 49,999 -1,396,499 Redemption fund for F. R. notes 860,089 2,073 + 21,427 Total gold certificate reserves 20,568,982 - 52,072 -1,375,072 F. R. notes of other Banks 346,875 - 29,012 - 24,652 Other cash 367,845 7,742 - 12,364 Discounts and advances 266,367 + 139,947 - 541,828 267 Industrial loans 342 Acceptances—bought outright 32,680 1,513 + 13,255 U. S. Government securities: Bought outright— Bills 1,356,710 - 648,850 +1,015,647 Certificates 21,507,291 +1,561,186 +1,573,679 Notes 10,000 + 10,000 Bonds 2.483,771 - 470,836 - 317,979 Total bought outright 25,357,772 + 441,500 +2,281,347 Held under repurchase agreement Total U. S. Government securities 25,357,772 + 441,500 +2,281,347 Total loans and securities 25,657,161 + 579,934 +1,752,507 Due from foreign banks 15 7 Uncollected cash items 4,428,028 - 200,558 + 42,256 Bank premises 89,763 + 84 + 9,108 Other assets 152,870 - 117,471 t ,2),743 TOTAL ASSETS 51,611,539 + 173,163 + 416,519 L I A B I L I T I ES Federal Reserve noteli 26,836,667 + 82,447 + 92,094 Deposits: Member bank reserves 18,549,244 + 338,185 + 18,538 U. S. Treasurer—general account 461,100 - 100,137 + 119,757 581 80,138 Foreign 286,709 - - Other 324,968 - 7,858 + 54,395 Total deposits 19,622,021 + 229,609 + 112,552 Deferred availability cash items 3,744,111 - 147,558 + 126,307 Other liabilities and accrued dividends 14,115 - 1,771 + 317 TOTAL LIABILITIES 50,216,93% + 162,727 + 331,270 C A P I T AL A C C O U N TS Capital paid""in " 354,851 92 + 16,943 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 203,013 10,344 +_ 6,701 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,611,539 173,163 + 416,519 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.3% 3.1% Contingent liability on acceptances purchased for foreign correspondents 107,257 1,148 + 33,479 Industrial loan commitments 986 - 807 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 6, 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 170 13,049 "*r 226,500 16 days 90 days 1,500 20 19,631 1,130,210 91 days to 1 year 68 21,507,291 Over 1 year to 5 years 84 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 W Total 266,367 32,660 25,357,772 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF COKDIT][O K OF EACH FEDERA] RESERVE BANK ON AUGUST 6, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 19,708,893 970,269 5,238,020 1087,676 1569,301 1172,398 866,633 3594,906 811,489 428,195 794,197 724,965 2450,844 Redemption fund for 860,089 52,710 177,331 57,363 78,082 75,156 48,740 161,181 41,673 21,348 42,288 27,445 76,772 P. R. notes Total gold certificate reserves 20,568,982 1022,979 5,415,351 1145,039 1647,383 1247,554 915,373 3756,087 853,162 449,543 836,485 752,410 2527,616 F.R. notes of other Banks 346,875 33,104 69,932 39,726 19,636 23,888 51,013 24,174 8,642 20,153 8,051 15,431 33,125 Other cash 367,845 26,160 75,971 21,623 39,684 18,980 29,636 57,263 20,183 8,366 10,252 14,760 44,967 Discounts and advances 266,367 12,075 143,675 2,940 27,660 7,848 5,326 26,180 5,550 11,208 7,005 12,400 4,500 Industrial loans 342 327 15 Ac ceptance s— Bought outright 32,680 32,680 U. S. Govt* securities: Bought outright— Bills 1,356,710 73,870 342,119 77,990 120,103 88,310 69,034 236,990 55,345 28,541 57,908 53,144 153,356 Certificates 21,507,291 1171,029 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 877,368 452,449 917,996 842,462 2431,077 Notes 10,000 545 2,523 574 885 651 508 1,747 409 210 427 391 1,130 Bonds 2,483,771 135,236 626,327 142,777 219,876 161,674 126,382 433,865 101,323 52,251 106,015 97,292 280,753 Total 25,357,772 1380,680 6,394,419 1457,666 2244,797 1650,588 1290,279 4429,496 1034,445 533,451 1082,346 993,289 2866,316 Held under repurchase agreement Total U, S. Govt, sees. 25,357,772 1380,680 6,394,419 1457,666 2244,797 1650,588 1290,279 4429,496 1034,445 533,451 1082,346 993,289 2866,316 Total loans & securities 25,657,161 1393,082 6,570,774 I46o,6o6 2272,457 1658,436 1295,605 4455,676 1039,995 544,674 1089,351 1005,689 2870,816 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,428,028 328,564 7997282 298,541 411,812 362,978 354,010 687,110 176,607 123,377 230,768 208,526 446,453 Bank premises 89,763 4,768 10,828 4,357 9,963 6,746 8,463 8,278 6,939 5,249 4,876 7,538 11,758 Other assets 152,870 8,194 36,967 8,461 13,920 9,748 7,921 28,746 6,017 3,179 6,933 5,991 16,793 TOTAL ASSETS 51,611,539 2816,852 12,979,109 2978,354 4414,856 3328,331 2662,022 9017,336 2111,546 1154,541 2186,717 2010,346 5951,529 1/ After deducting $11,000 participations of other Federal Reserve Banks. D2ig/ itizLeeds fosr F RtAhSEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(c) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 6, 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) L I A B I L I T I ES Federal Reserve notes 26,836,687 1597,227 6,336,836 1676,015 2479,451 2062,837 1302,042 5183,882 1186,978 551,153 1070,948 732,082 2657,236 Deposits: Member bank reserves 18,549,244 782,558 5,258,863 885,984 1411,483 847,601 936,930 2936,949 650,574 423,851 833,640 961,070 2619,741 U.S.Treas.-gen.acct. 461,100 32,285 57,070 26,671 36,437 28,686 34,187 63,730 27,311 28,851 39,047 44,362 42,463 Foreign 286,709 15,789 1/87,823 19,113 24,653 14,127 12,465 39,611 10,249 6,648 10,803 l4,4o4 31,024 Other 324,968 781 265,093 10,554 1,239 3.569 1.716 531 275 488 1,492 1,869 37.361 Total deposits 19,622,021 831,413 5,668,849 942,322 1473,812 893,983 985,298 3040,821 688,409 459,838 884,982 1021,705 2730,589 Deferred availability cash items 3,744,111 306,632 587,766 263,862 335,433 296,571 308,228 586,995 181,769 108,049 174,539 184,841 409,426 Other liabilities and accrued dividends 14,115 977 3,317 608 1,941 690 683 2,359 515 620 550 526 1.329 ?! ' . >^ jj*-' TOTAL LIABILITIES 50,216,934 2736,249 12,596,768 2882,807 4290,637 3254,081 2596,251 8814,057 2057,671 1119,660 2131,019 1939,154 5798,580 CAPITAL ACCOUNTS Capital paid in 354,851 17,905 103,633 21,638 33,407 16,056 17,824 48,827 12,027 8,195 14,433 20,102 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 203,013 12,674 47,426 13,497 18,256 13,609 10,993 31,519 9.741 5.916 9,595 8.912 20.875 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,611,539 2816,852 12,979,109 2978,354 4414,856 3328.331 2662.022 9017,336 2111.546 1154.541 2186.717 2010.346 5951.529 Conting. liab. on acceptances purchased for foreign correspondents 107,257 6,110 2/30,288 7,397 9,541 5,467 4,824 15,330 3,966 2,573 4,l8l 5,574 12,006 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,691,875 1652,420 6,554,621 1729,700 2543,510 2134,463 1354,740 5271,630 1229,232 565,887 1095,363 783,683 2776,626 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 15,495 — — —— 2,940 —«• —— — — — — 5,550 — — 7,005 — — —— 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 29.028,495 1850.000 6,870.000 1842,940 2600,000 2175,000 1425,000 5400,000 1335,550 595,000 1127,005 808,000 3000,000 «I» f wvx U^VIUV UXUG J..J7W j W V/ j \J\J\J JJOI UXU BXUUU V* v v/uvi JL WUV* UJ. I\WOVJI » v» JUUUAO # 2/ After deducting $76,969,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis