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 28, 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 27 decreased $122 million to $18,526 million. Estimated required reserves decreased $79 million; and estimated excess reserves decreased $43 million to $576 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $306 million, compared with $403 million the week before. The principal changes reducing average reserves were decreases of $149 million in U. S. Government securities bought outright and $151 million in Federal Reserve float. The principal offsetting changes were an increase of $54 million in member bank borrowings, and decreases of $46 million in money in circulation, $42 million in Treasury deposits with Federal Reserve Banks, and $25 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $248 million. As of Wednesday, August 27, holdings of U. S. Government securities bought outright were $96 million lower than a week earlier and member bank borrowings were $51 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 27, 1958 Aug. 20, 1958IAug* 28, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,257 -149 +2,042 Held under repurchase agreement J Acceptances--bought outright 33 - 1 + 12 Loans, discounts, and advances— Member bank borrowings 270 + 54 - 637 Other 1 + 1 7 Float 857 -151 - 120 Total Reserve Bank credit 26,417 -248 +1,284 Gold stock 21,086 -1,540 Treasury currency outstanding 5,211 4" 1 + 93 52,714 -246 - 163 Money in circulation 31,249 - 46 + 251 Treasury cash holdings 688 - 8 - 76 Treasury deposits with F. R. Banks 486 - 42 + 11 Foreign deposits with F. R. Banks 234 - 25 - 105 Other deposits with F. R. Banks 320 + 19 + 52 Other F. R. accounts (net) 1,212 - 21 + 9 3^166 -124 + 142 Member bank reserves-- 18,526 -122 - 305 Required reserves (estimated) 17,950 - 79 - 447 Excess reserves (estimated) 57 6 - 43 + 1,42 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 692 Treasury currency outstanding 5,211 Member bank) - Required (est.) 17,940 Money in circulation 31,246 reserves ) - Excess (est.) 300 On August 27, 1958, U. S. Government securities held in custody by the Federal Reserve Banks fox foreign account were $3,389 million, an increase of $17 million for the week and a decrease of $147 million from the comparable Digitizedd afotr eFR AaS EyRe ar ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4. 1(9,) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since August 27, August 20, August 26, 1958 1958 mt A S S E TS Gold certificate account 19,630,891 2 -1,469,501 Redemption fund for F. R. notes 868,402 - 2,765 + 30,096 Total gold certificate reserves 20,499,293 2,767 -1,439,405 F. R. notes of other Banks 353,970 + 16,221 - 50,273 Other cash 374,177 564 18,841 Discounts and advances 189,367 - 50,807 - 603,069 Industrial loans 341 188 Acceptances—bought outright 31,080 994 + 8,458 U. S. Government securities; Bought outright— Bills 1,215,960 95,650 + 638,987 Certificates 21,507,291 +1,573,679 Notes 10,000 + 10,000 Bonds 2.483,771 - 317,979 Total bought outright 25,217,022 95,650 +1,904,687 Held under repurchase agreement - 35,600 Total U. S. Government securities 25,217,022 95*650 +1,669,087 Total loans and securities 25,437,810 - 147,451 +1,274,288 Due from foreign banks 15 7 Uncollected cash items 4,495,400 - 638,516 6,446 Bank premises 89,919 137 + 8,770 Other assets 118,099 + 11,270 + 38,023 TOTAL ASSETS 51,368,683 - 761,944 - 193,891 l i a b i l i t i es Federal Reserve notes 26,867,569 + 12,279 + 102,108 Deposits: Member bank reserves 18,239,813 - 338,264 - 354,285 U. S. Treasurer—general account 475,155 + 26,829 8,832 Foreign 255,854 + 3,045 - 96,135 Other 319,501 + 10,906 +45,883 Total deposits 19,290,323 - 297,404 - 413,369 Deferred availability cash items 3,818,978 - 439,996 + 88,938 Other liabilities and accrued dividends 16,930 + 2,094 - 1,786 TOTAL LIABILITIES 49,993,800 - 723,027 - 224,109 C A P I T AL A C C O U N TS Capital paid in 355,757 64 + 17,632 Surplus (Section 7) 809,198 + 61,605 Surplus (Section 13b) 27,543 Other capital accounts 182,385 - 38,981 49,019 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,368,683 - 761.944 193,891 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.4# 2.8% Contingent liability on acceptances purchased for foreign correspondents 4,941 Industrial loan commitments ±m MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 27, 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 166,762 170 9 7# 355,010 16 days to 90 days 2,605 29 21,293 860,950 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 31,060 25,217,022 Total 189,367 W Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF C0MDIT] 8 I I a 1 3 1958 Phila- Total Boston New York delphia fi i St. Minne- Kansas San Atlanta Chicago Dallas Louie apolis City Francisco A S S E TS Gold certificate account 19,630,891 951,671 5,176,046 1044,422 1673,340 1149,309 854,271 3602,807 766,850 435,084 825,825 729,543 2421,723 Redemption fund for F. R. notes 868,402 52,444 176,320 56,947 78,604 73,994 48,526 160,704 42,540 21,250 42,181 28,366 86,526 Total gold certificate reserves 20,499,293 1004,115 5,352,366 1101,369 1751,944 1223,303 902,797 3763,511 809,390 456,334 868,006 757,909 2508,249 F.R. notes of other Banks 353,970 35,299 72,070 42,205 12,612 25,306 51,900 25,138 10,794 14,865 9,747 19,274 34,760 Other cash 374,177 27,265 76,683 21,684 38,441 20,999 30,650 59,976 22,004 7,657 9,817 15,378 43,623 Discounts and advances 189,367 17,850 51,415 3,015 20,160 15,840 20,724 20,225 16,125 6,383 11,680 950 5,000 Industrial loans 341 327 14 Acceptances- 31,080 31,080 Bought outright U. S. Govt, securities: Bought outright- Bills 1,215,960 66,207 306,626 69,899 107,643 79,148 61,673 212,403 49,603 25,581 51,900 47,631 137,446 Certificates 21,507,291 1171,029 5,423,1*50 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 . .5 2,„2 51 106,015 97,292 280,753 Total 25,217,022 1373,017 6,358,926 1449/575 2232,337 1641,426 1283,118 4404,909 1025,703 530,491 107b,33d 907,77b 2050,40b Held under repurchase agreement Total U. S. Govt, sees. 25,217,022 1373,017 6,358,926 1449,575 2232,337 1641,426 1283,118 4404,909 1028,703 530,491 1076,338 987,776 2850,406 Total loans & securities 25,437,810 1391,194 6,441,421 1452,590 2252,497 1657,266 1303,842 4425,134 1044,828 536,888 1088,018 988,726 2855,406 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,495,400 325,544 8117179 280,019 435,726 359,027 360,355 694,185 185,158 129,709 230,256 234,130 450,112 Bank premises 89,919 4,733 10,501 4,335 9,978 6,705 8,603 8,666 6,888 5,230 4,876 7,668 11,736 Other assets 118,099 6,174 28,929 6,431 10,597 7,591 6,150 21,906 4,563 2,475 5,446 4,865 12,972 TOTAL ASSETS 51,368,683 2794,325 12,793,153 2908,634 4511,796 3300,198 2664,298 8998,518 2083,626 1153,158 2216,167 2027,951 5916,859 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 CONDITlC ON OF EACH FEDERA] RESERVE BANK ON AUGUST 27 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 26,867,569 1584,418 6,330,756 1670,067 2488,544 2072,071 1312,601 5195,142 1187,063 554,366 1072,144 743,348 2657,049 Deposits: Member bank reserves 18,239,813 755,653 5,071,802 848,237 1474,039 785,740 923,785 2926,451 652,742 419,942 833,260 970,480 2577,682 U.S.Treas.-gen.acct. 475,155 55,044 30,939 32,826 36,983 41,387 39,664 39,512 34,854 23,570 55,321 27,299 57,756 Foreign 255,854 13,851 1/81,380 16,767 21,627 12,393 10,935 34,749 8,991 5,832 9,477 12,636 27,216 Other 319,501 269 270,874 1,795 1,187 2,301 1,338 518 1,020 277 707 1,734 37,481 Total deposits 19,290,323 024,017 5,454,995 899,625 1533,036 041,521 975,722 3001,230 697,607 449,621 098,765 1012,14$ 2700,135 Deferred availability cash items 3,818,978 304,395 626,235 243,817 365,204 312,481 310,461 599,810 145,327 113,934 189,628 201,145 4o6,54l Other liabilities and accrued dividends 16,930 1,108 4,080 745 1,856 841 721 2,703 551 713 710 881 2,021 TOTAL LIABILITIES 49,993,800 2714,738 12,416,066 2814,254 4389,440 3227,214 2599,505 8798,885 2030,548 1118,634 2l6l,24? 1957,523 5765,746 CAPITAL ACCOUNTS Capital paid in 355,757 17,912 103,667 21,662 33,412 16,085 17,873 48,839 12,06l 8,205 14,518 20,111 4i,4l2 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 182,385 11,651 42,138 12.306 16.388 12.314 9.966 27.861 8.910 5.549 8.732 8.139 18.431 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,368,683 2794,325 12,793,153 2908,634 4511,796 3300,198 2664,298 8998,518 2083,626 1153,158 2216,167 2027,951 5916,859 Conting. liab. on acceptances purchased for foreign correspondents 93,213 5,313 2/26,295 6,431 8,295 4,753 4,194 13,328 3,448 2,237 3,635 4,846 10,438 Industrial loan commit. 1,036 96 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,815,048 1644,606 6,556,545 1725,406 2550,970 2147,185 1380,921 5309,541 1233,859 570,429 1099,852 796,114 2799,620 Collat. for F. R. notes: Gold certificate acct. 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 Eligible paper 30,820 3,015 — — -- — 16,125 — 11,680 U. S. Govt, securities 17,520,000 1150,000 3,600,000 1200,000 1600,000 i4oo,ooo 1000,000 3200,000 900,000 425,000 820,000 525,000 1700,000 Total collateral 29,143,820 1850,000 6,870,000 1843,015 2600,000 2175,000 1425,000 5500,000 1346,125 595,000 1131,680 808,000 3000,000" l/ After deducting $174,474,000 participations of other Federal Reserve Banks. 2/ After deducting $66,918,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis