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 21, 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 20 decreased $112 million to $18,648 million. Estimated required reserves decreased $40 million; and estimated excess reserves decreased $72 million to $619 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $403 million, compared with $462 million the week before. The principal changes reducing average reserves were decreases of $240 million in Federal Reserve holdings of U. S. Government securities and $68 million in gold stock, and increases of $67 million in "other" F. R. accounts (net) and $24 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $234 million in Federal Reserve float, and decreases of $4l million in foreign deposits with Federal Reserve Banks and $28 million in "other" deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $20 million. As of Wednesday, August 20, holdings of U. S. Government securities bought outright were $207 million lower than a week earlier and member bank borrowings were $58 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 20, 1958 .August 13* 19581 August 21,195.7 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,406 -220 +2,372 Held under repurchase agreement - 20 w -» -- Acceptances--bought outright 34 - 2 + 15 Loans, discounts, and advances-- Member bank borrowings 216 - 13 - 709 Other * — * 6 Float 1,008 +234 - 219 Total Reserve Bank credit 26,665 - 20 +1,454 Gold stock 21,086 - 68 -1,539 Treasury currency outstanding 5,210 + 94 — mm 52,9*30 T~B8 + 8 Money in circulation 31,295 + 4 + 240 Treasury cash holdings 696 - 3 66 Treasury deposits with F. R. Banks 528 + 24 + 15 Foreign deposits with F. R. Banks 259 - 41 - 84 Other deposits with F. R. Banks 301 - 28 + 31 Other F. R. account s(net) 1,233 + 67 + 30 34,312 + 23 + 166 Member bank reserves-- 18,648 -112 - 158 Required reserves (estimated) 18,029 - 4o - 225 Excess reserves (estimated) 619 - 72 + 67 * 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 21,086 Treasury cash holdings 689 Treasury currency outstanding 5,210 Member bank) - Required (est.) 18,001 Money in circulation 31,248 reserves ) - Excess (est.) 577 On August 20, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,372 million, an increase of $60 million for the week and a decrease of $232 million from the comparable date Digitized for FRASER a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since August 20, August 13, August 21, 1958 A S S E TS Gold certificate account 19,630,893 60,999 -1,471,501 Redemption fund for F. R. notes 871,167 + 9,183 + 32,668 Total gold certificate reserves 20,502,060 • 51,816 -1,438,833 . F. R. notes of other Banks 337,749 5,206 - 58,871 Other cash 374,741 + 5,959 - 19,408 Discounts and advances 240,174 + 58,355 ~ 468,495 Industrial loans 341 1 - 266 Acceptances--"bought outright 32,074 - 516 + 12,653 U. S. Government securities: Bought outright— Bills 1,311,610 206,700 +1 ,013,147 Certificates 21,507,291 +1,573,679 Notes 10,000 + 10,000 Bonds 2,483,771 - 317,979 Total bought outright 25,312,672 - 206,700 +2,278,847 Held under repurchase agreement Total U. S. Government securities 25,312,672 - 206,700 +2,278,847 Total loans and securities 25,585,261 * 148,862 +1,822,739 Due from foreign banks 15 -- - 7 Uncollected cash items 5,133,916 24,853 + 19,191 Bank premises 90,056 + 177 + 8,971 Other assets 106,829 58,231 + 41,406 TOTAL ASSETS 52,130,627 - 282,832 + 375,188 L I A B I L I T I ES Federal Reserve note's ~~ 26,855,290 - 26,088 + 100,663 Deposits: Member bank reserves 18,578,077 9,274 + 90,686 U. S. Treasurer--general account 448,326 - 34,585 - 31,838 Foreign 252,809 - 74,115 - 88,959 Other 308,515 - 13,234 + 51,721 . Total deposits 19,587,727 131,208 + 21,610 . Deferred availability cash items 4,258,974 134,392 + 172,284 Other liabilities and accrued dividends 14,836 - 941 + 358 TOTAL LIABILITIES 50,716,827 - 292,629 + 294,915 C A P I T AL A C C O U N TS Capital paid in 355,693 710 + 17,647 + 61,605 Surplus (Section 7) 809,198 Surplus (Section 13b) 27,543 Other capital accounts 221,366 + 9,087 + 1,021 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,130,627 - 282,832 + 375,188 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.1$ 3.3$ Contingent liability on acceptances purchased + 26,383 for foreign correspondents 98,154 7,898 Industrial loan commitments -1,036, 1 803 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 20, 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 237,254 170 11,693 576,660 16 days to 90 days 2,920 29 20,381 734,950 91 days to 1 year 63 21,507,291 Over 1 year to 5 years 79 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 240,174 W 32,074 25,312,672 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM OH AUGUST 20. 1958 Total Boston New York Phila- | Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphlaj land Louis apolis City Franciscc A S S E TS Gold certificate account 19,630,893 979,567 5,116,745 1059,147 1678,427 1134,203 849,067 3614,089 802,582 439,067 809,506 736,722 2411,771 Redemption fund for F. R. notes 871,167 176,917—,57,191—78,884—74,679 48,651 160,990—42,617 21. 4p.pv7 Pft 4io ; Total gold certificate reserves 20,502,060 1032,168 5,293,662 1116,338 1757,311 1208,882 897,718 3775,079 845,199 460,372 851,743 765,132 2498,456 F.R. notes of other Banks 337,749 32,839 72,982 39,112 11,512 23,017 50,152 23,866 8,644 14,509 12,545 16,266 32,305 Other cash 374,741 26,927 79,791 22,382 37,521 19,323 30,740 57,650 20,395 7,800 9,917 14,984 47,311 Discounts and advances 240,174 24,525 94,605 8,490 34,435 6,190 8,574 31,855 9,630 3,525 10,645 1,000 6,700 Industrial loans 341 327 14 Acceptances-- Bought outright 32,074 32,074 U. S. Govt, securities: Bought outright- Bills 1,311,610 71,414 330,746 75,398 116,110 85,374 66,740 229,111 53,505 27,593 55,983 51,378 148,258 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 25,312,672 1378,224 6,383,046 1455,074 2240,804 1647,652 1287,985 4421,61? 1032,605 532,503 1080,421 991,523 2861,218 Held under repurchase agreement Total U. S. Govt, sees. 25,312,672 1378,224 6,383,046 1455,074 2240,804 1647,652 1287,985 4421,617 1032,605 532,503 1080,421 991,523 2861.218 Total loans & securities 25,585,261 1403,076 6,509,725 1463,564 2275,239 1653,842 1296,559 4453,472 1042,235 536,042 1091,066 992,523 2867,918 Due from foreign banks 15 1 JJ 4 1 1 1 1 2 1 1 1 1 Uncollected cash items 5,133,916 381,656 96M75 320,834 455,035 417,082 423,542 774,972 201,301 146,269 271,504 260,540 515,006 Bank premises 90,056 4,768 10,494 4,357 9,951 6,746 8,617 8,671 6,894 5,256 4,876 7,668 11,758 Other assets 106,829 5,678 25,985 5,788 9,468 6,752 5,602 20,104 4,106 2,249 4,994 4,459 11,644 TOTAL ASSETS 52,130,627 2887,113 12,958,818 2972,376 4556,038 3335,645 2712,931 9113,816 2128,775 1172,497 2246,646 2061,573 5984,399 1 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2iti/ze dL foer sFsR AStEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 20, 1958 „ , Phila- Cleve- , ... . St. Minne- Kansas San Total Boston New York ^elnhia land Rlchmond Atlanta Chicago city Dallas Loulg apoll8 Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,855,290 1591,214 6,325,958 1671,690 2486,740 2063,331 1308,808 5199,318 1188,916 551,780 1071,413 743,027 2653,095 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 2963,234 683,615 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,578,077 810,532 5,192,946 870,842 1494,653 796,055 933,419 431,537 841,914 965,139 2594,191 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 448,326 43,339 40,499 43,094 35,397 36,128 32,251 32,560 29,859 16,816 41,760 45,490 51,133 11,025 5,880 9,555 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 252,809 13,965 1/76,899 16,905 21,805 12,495 35,035 9,065 12,740 27,440 OOOOOttttthhhhheeeeerrrrr 308,515 1,630 255,567 1,936 1,020 2,958 1,303 739 1,688 411 957 1,714 38,592 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,587,727 869,466 5,565,911 932,777 1552,875 847,636 977,998 3031,568 724,227 454,644 894,186 1025,083 2711,356 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,258,974 343,849 676,249 270,572 388,994 348,522 358,717 673,842 160,631 130,209 223,952 220,804 462,633 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 14,836 1,021 3,438 689 1,644 723 726 2,378 455 659 555 791 1,757 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,716,827 2805,550 12,571,556 2875,728 4430,253 3260,212 2646,249 8907,106 2074,229 1137,292 2190,106 1989,705 5828,841 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 355,693 17,910 103,660 21,660 33,411 16,061 17,855 48,839 12,061 8,205 14,515 20,105 4l,4li 47,013 31,586 89,130 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 809,198 223,963 55,923 71,550 41,236 36,192 121,504 19,697 30,533 40,871 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 221,366 13.629 52,320 14,576 19,8l8 14,787 11,873 34,938 10,378 6,230 10,355 9,585 22,877 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,130,627 2887,113 12,958,818 2972,376 4556,038 3335,645 2712,931 9113,816 2128,775 1172,497 2246,646 2061,573 5984,399 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 98,154 5,592 2/27,718 6,769 8,731 5,003 4,415 14,028 3,630 2,354 3,826 5,101 10,987 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,036 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,753,912 1642,476 6,569,274 1724,540 2540,320 2130,604 1367,870 5295,249 1228,955 567,060 1100,024 798,094 2789,446 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,593,000 • a — — 8,490 — — •• -* —— 9,630 •• 10,645 "" •• EElliiggiibbllee ppaappeerr 28,765 1150,000 3,600,000 1200,000 1600,000 1400,000 1000,000 3200,000 900,000 425,000 820,000 525,000 1700,000 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,520,000 1850,000 6,870,000 1848,490 2600,000 2175,000 1425,000 5500,000 1339,630 595,000 1130,645 808,000 3000,000 TToottaall ccoollllaatteerraall 29,141,765 l/ After deducting $175,9]L O, 000 part .cJi patlons of other Federal Reserve Banks. 2/ After deducting $70,436,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis