H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOAIiD OF GOVERNORS For Immediate Relea^. H.4.1 OF THE FEDERAL RESERVE SYSTEM August 14, 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 13 increased $464 million to $18,760 million. Estimated required reserves increased $330 million; and estimated excess reserves increased $134 million to $694 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $465 million, compared with $448 million the week before. The principal changes supplying average reserves were increases of $406 million in Federal Reserve holdings of U. S. Government securities and $117 million in member bank borrowings, and a decrease of $158 million in Treasury deposits with Federal Reserve Banks, The principal offsetting changes were decreases of $54 million in Federal Reserve float and $4l million in gold stock, and an increase of $121 million in money in circulation. Total Reserve Bank credit increased $473 million. As of Wednesday, August 13, holdings of U. S. Government securities bought outright were $162 million higher than a week earlier and member bank borrowings were $85 million lower. Member bank reserves, Ave rages of daily figures Reserve Bank credit, For Week ending Change from week ending and related items August 13, 1J95L8y jKAJu g[nuus5t u6o, 1v9 l5 8|August 14,1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,626 +386 +2,579 Held under repurchase agreement 20 + 20 + 20 Acceptances—bought outright 36 + 3 + 16 Loans, discounts, and advances-- Member bank borrowings 229 +117 - 927 Other 6 * *» — Float 774 - 54 - 100 Total Reserve Bank credit 26,685 +473 +1,583 Gold stock 21,154 - 4l -1,473 Treasury currency outstanding 5,210 + 3 + 96 53,048 +433 + 206 Money in circulation 31,291 +121 + 222 Treasury cash holdings 699 + 1 65 Treasury deposits with F. R. Banks 504 -158 + 29 Foreign deposits with F. R. Banks 300 + 9 - 63 Other deposits with F. R. Banks 329 - 21 + 56 Other F. R. accounts (net) 1,166 + 18 + 53 34,289 - 30 + 232 Member bank reserves-- 18,760 +464 26 Required reserves (estimated) 18,066 +330 - 129 Excess reserves (estimated) 694 +134 + 103 * 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 21,146 Treasury cash holdings 701 Treasury currency outstanding 5,210 Member baf*);) - Required (est.) 18,070 Money in circulation 31,270 reserved ) - Excess (est.) 517 On August 13, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,312 million, an increase of $86 million for the week and a decrease of $356 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) STAT&MEt& OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since August 13, August 6, August 14, 1958 1958 1957 A S S E TS Gold certificate account 19,691,892 17,001 1,413,501 Redemption fund for F. R. notes 861,984 + 1,895 + 24,998 Total gold certificate reserves 20,553,875 15,106 1,388,503 - F. R. notes of other Banks 342,955 - 3,920 - 28,870 Other cash 368,782 + 937 - 12,865 Discounts and advances 181,819 84,548 363,817 ~ - Industrial loans 342 — - 301 Acceptances—bought outright 32,590 90 + 13,162 U. S. Government securities: Bought outright-- Bills 1,518,310 + 161,600 +1,203,347 Certificates 21,507,291 +1,573,679 -- Notes 10,000 + 10,000 «• — Bonds 2.483,771 317,979 - «• - Total bought outright 25,519,372 + 161,600 +2,469,047 Held under repurchase agreement Total U. S, Government securities 25,519,372 + 161,600 +2,469,047 Total loans and securities 25,734,123 + 76,962 +2,118,091 Due from foreign banks 15 7 -- - Uncollected cash items 5,158,769 + 730,741 391,960 - Bank premises 89,879 + 116 + 9,080 Other assets 165,060 + 12,190 + 20,918 TOTAL ASSETS 52,413,459 + 801,920 + 325,884 L I A B I L I T I ES Federal Reserve notes 26,881,378 + 44,691 + 102,736 Deposits: Member bank reserves 18,587,351 + 38,107 + 254,616 U. S. Treasurer--general account 482,911 + 21,811 + 74,175 Foreign 326,924 + 40,215 - 57,846 Other 321,749 - 3,219 + 47,907 Total deposits 19,718,935 + 96,914 + 316,852 Deferred availability cash items 4,393,366 + 649,255 - 178,315 Other liabilities and accrued dividends 15,777 + 1,662 + 1,093 TOTAL LIABILITIES 51,009,456 + 792,522 + 244,371 C A P I T AL ACCOUNTS Capital paid in 354,983 + 132 + 17,016 Surplus (Section 7) 809,198 + 61,605 " Surplus (Section 13b) 27,543 Other capital accounts 212,279 + 9,266 + 2 -- ,892 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,413,459 + 801,920 + 325,884 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.1% .2$ 3.4^ - - Contingent liability on acceptances purchased for foreign correspondents 106,052 • 1,205 + 30,519 Industrial loan commitments 1,041 + 5? 773 . - MATURITY DISTRIBUTION OF LOANS AND SECURITIES A.UGUST 13, 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 179,589 170 11,534 464,800 16 days to 90 days 2,230 20 21,056 1,053,510 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 Total 181,819 3^2 32,590 25,519,372 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITION OF EAC HFEDERAL RESERVE BASK ON AUGUST 13 1958 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St# Minne- Kansas San delphia land Louis apolis City Dallas Francisco (In thousands of dollars) A S S E T S Gold certificate account 19,691,892 950,619 5,240,841 1043,878 1625,657 1115,273 847,795 3591,352 787,191 454,838 809,627 754,954 2469,867 Redemption fund for F. R. notes 861.984 52,708 177,311 57,360 78,063 75,151 48,734 161,171 42,671 21,344 42,281 28,438 76,752 Total gold certificate reserves 20,553,876 1003,327 5,418,152 1101,238 1703,720 1190,424 896,529 3752,523 829,862 476,182 851,908 783,392 2546,619 F.R. notes of other Banks 342,955 34,785 70,923 41,295 12,648 25,574 51,077 22,249 8,895 15,874 9,862 14,390 35,383 Other cash 368,782 26,081 77,971 21,909 37,985 18,891 31,007 58,458 20,045 8,325 9,955 13,682 44,473 Discounts and advances 181,819 15,400 34,540 4,950 33,810 3,790 9,326 44,130 2,915 9,158 17,700 1,100 5,000 Industrial loans 342 327 15 Acceptances- Bought outright 32,590 32,590 U. S. Govt, securities: Bought outright— Bills 1,518,310 82,669 382,869 87,280 134,409 98,829 77,257 265,218 61,937 31,941 64,805 59,474 171,622 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 25,519,372 1389,479 6,435,169 1466,956 2259,103 1661,107 1298,502 4457,724 1041,037 536,851 1089,243 999,619 2884^5^2 Held under repurchase agreement Total U. S. Govt, sees. 25,519,372 1389,479 6,435,169 1466,956 2259,103 1661,107 1298,502 4457,724 1041,037 536.851 1089,243 999,619 2884,582 Total loans & securities 25,734,123 1405,206 6,502,299 1471,906 2292,913 1664,897 1307,828 4501,854 1043,952 546,024 1106,943 1000,719 2889,582 Due from foreign banks 15 1 1/4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,158,769 363,148 9027858 341,328 479,432 425,979 449,528 799,442 218,603 147,973 261,845 259,766 508,867 Bank premises 89,879 4,768 10,828 4,357 9,951 6,746 8,464 8,278 6,932 5,255 4,876 7,666 11,758 Other assets 165.060 8.729 40,273 9.168 14,752 10,616 8,522 30,766 6.504 3.463 7,466 6,559 18,242 TOTAL ASSETS 52,413,459 2846,045 13,023,308 2991,202 4551,402 3343,128 2752,956 9173,572 2134,794 1203,096 2252,856 2086,175 6054,925 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.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 13 Total New York Phila- Cleve- Richmond Atlanta St. Minnedelphia land Louis apolis L I A B I L I T I ES In thousands of dollars, Federal Reserve notes 26,881,378 1598,070 6,333,683 1673,309 2488,077 2064,936 1307,737 5194,828 1189,716 552,033 1073,697 739,192 2666,100 Deposits: Member bank reserves 18,587,351 775,227 5,181,914 881,090 1481,011 786,291 932,029 2990,192 670,759 446,404 840,939 983,450 2618,045 U.S.Treas.-gen.acct. 482,911 35,368 46,494 30,996 28,260 37,077 34,596 32,772 31,849 29,345 56,139 42,529 77,486 Foreign 326,924 17,157 1/110,806 20,769 26,789 15,351 13,545 43,043 11,137 7,224 11,739 15,652 33,712 Other 321,749 446 269,536 2,731 2,188 2,513 1 ^,4 ^89 1 3,07116 419 1,063 1,897 38.080 Total deposits 19,718,935 828,198 5,608,750 935,526 1538,248 841,232 Q 981,659 3066,378 714,761 483,392 909,880 1043,528 2767,323 Deferred availability cash items 4,393,366 337,715 692,034 285,495 398,282 361,313 396,707 704,809 175,506 132,001 212,466 231,249 465,789 Other liabilities and accrued dividends 15,777 979 4,021 744 1,871 808 639 2,548 560 622 658 677 1 TOTAL LIABILITIES 51,009,456 8761,962 12,636,4Kb 2%, 134 4426>78 3368,289 2686,742 6968^63 2080,543 1168,048 2196,70! goi4,646 590^662 CAPITAL ACCOUNTS O S S C t u u a h r r p e p p i r l l t u u a s c s l a p ( ( p S i S a e t e i c a c d t t l i i i o o n a n n c c 1 7 o 3 ) u b n ) t s 2 8 3 2 1 0 5 7 2 9 4 , , , , 2 5 1 9 7 4 9 8 9 3 8 3 1 4 1 3 3 7 7 , , , , 0 1 0 9 1 5 1 0 1 1 3 8 2 1 4 2 0 7 9 3 3 , , , , 3 8 9 6 1 9 6 4 9 2 6 3 1 5 2 4 4 5 1 , , , , 4 0 6 9 8 3 1 2 9 9 7 3 7 1 3 1 8 1 3 , , , , 0 9 5 4 0 6 5 0 6 0 0 8 3 4 1 1 , 4 1 6 3 , , , 4 1 2 0 9 9 3 5 7 6 7 1 3 1 1 6 7 , , ,8 7 4 1 3 2 6 9 9 1 2 2 1 3 4 2 1 3 8 1 , , , , 4 2 8 5 2 4 3 0 9 0 6 4 1 1 3 0 1 2 , , , 0 5 0 5 8 8 5 2 5 6 9 1 1 6 1 8 9 , , , , 0 0 1 6 8 7 9 9 0 3 7 8 3 1 9 1 0 4 , , , , 9 1 5 5 7 3 3 0 7 7 3 8 4 2 1 0 0 , , , 3 8 1 0 7 0 7 1 2 8 4 2 9 0 , , , 1 1 8 2 4 3 0 8 0 0 5 8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,413,459 2846,045 13,023,308 2991,202 4551,402 3343,128 2752,956 9173,572 2134,794 1203,096 2252,856 2086,175 6054.925 Conting. liab. on acceptances purchased for foreign correspondents 106,052 6,048 2/29,872 7,321 9,443 5,411 4,775 15,172 3,926 2,546 4,138 5,517 11,883 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS P. R. notes outstanding 27,748,208 1648,764 6,549,981 1726,556 2549,602 2133,560 1363,158 5288,665 1231,580 566,178 1101,628 792,603 2795,933 Collat. for F. R. notes: Gold certificate acct. 11,593,000 700,000 3,270,000 64o,ooo 1000,000 775,000 425,000 2300,000 430,000 170,000 300,000 283,000 1300,000 Eligible paper 25,565 4,950 — -- -- -- 2,915 — 17 700 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'ooo 525,000 1700,000 Total collateral 29,038,565 1850,000 6,870,000 1844,950 2600,000 2175,000 1425,000 5400,000 1332,915 595,000 1137,700 808,000 3000,000 1/After deducting $216,118,000 participations of other Federal ReRfrrw Ban kg. $76,180,090 2/ After deducting participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis