H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 4, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAH CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending September 3 decreased $80 million to $18,446 million* Estimated required reserves decreased $78 million; and estimated excess reserves decreased $2 million to $589 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $128 million, compared with $321 million the week before. The principal changes reducing average reserves were decreases of $75 million in gold stock and $65 million in Federal Reserve float, and increases of $130 million in money in circulation, $71 million in foreign deposits with Federal Reserve Banks, and $53 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $191 million in member bank borrow- . million in U. S. Government securities bought outright, and a decrease o $37 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $221 million. As of Wednesday, September 3; holdings of U. S. Government securities ought outright were $169 million higher than a week earlier and member bank borrowings were $5 million lower. This week!s statement reflects the repayment to the Treasury, pursuant to the provisions of the Small Business Investment Act of 1958, of $27,546,000, the advanc^s Previously made to the Reserve Banks under Section 13b of the lrVe 5 \ This resulted in the elimination of Section 13b surplus Member Lnk4 °f ti>°°0 » ^tlon ^ Reserve Bank credit, For week ending — Change from week ending 0 and related items Sept, 3, 1958 1958 I. A__u_g_,_ 27, 195# I Sept. 4, 1957 (In millions of dollars) Reserve Bank credit: U. S, Government securities- Bought outright—System account 25,353 + 96 +1 890 Held under repurchase agreement ' -- - 48 Acceptances-- Bought outright 32 - 1 + 7 Held under repurchase agreement -- 1 Loans, discounts, and advances-- Member bank borrowings 461 +191 - 365 Other * - 1 7 Float 792 - 65 66 Total Reserve Bank credit 26,638 +221 +1,410 Gold stock 21,011 - 75 -1,615 Treasury currency outstanding 5,211 «• - + 93 52,861 +157 - Ill Money in circulation 31,379 +130 + 230 Treasury cash holdings 693 + 5 66 Treasury deposits with F. R. Banks 539 + 53 + 54 Foreign deposits with F. R. Banks 305 + 71 - 35 Other deposits with F. R. Banks 324 + 4 + 43 Other F. R. accounts (net) 1,175 - 37 22 34,415 +227 + 202 Member bank reserves-- 18,446 - 80 - 314 Required reserves (estimated) 17,857 - 78 - 489 Excess reserves (estimated) 5 89 - 2 + 175 * 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 21,011 Treasury cash holdings 69? Treasury currency outstanding 5,212 Member bank) - Required (est.) 17,845 Money in circulation 31,436 reserves ) - Excess (est,) 343 On September 3, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,369 million, a decrease of $20 million for the week and a decrease of $135 million from the comparable date Digitaize dy feora FrR AaSgERo . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Hi4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 3, August 27, Sept. 4, 1958 1958 1957 A SS E T S Gold certificate account 19,550,894 - 79,997 -1,549,498 Redemption fund for F. R. notes 873,313 + 35,007 Total gold certificate reserves 20,424,207 - 1 75I0K -1,514,491 F. R. notes of other Banks 312,261 - 41,709 - 47,458 Other cash 359,486 - 14,691 - 22,247 Discounts and advances 184,588 4,779 - 248,889 Industrial loans 341 256 Acceptances—bought outright . 31,084 + 6,542 U. S. Government securities: Bought outright-- Bills 1,385,060 + 169,100 + 697,287 Certificates 21,507,291 +1,573,679 10,000 + 10,000 Notes Bonds 2.483,771 - 317,979 Total bought outright 25,386,122 + 169,100 +1,962,987 Held under repurchase agreement Total U. S. Government securities 25.306,122 + 169,100 +1,962,907 Total loans and securities 25,602,135 + 164,325 +1,720,384 Due from foreign banks 15 7 Uncollected cash items 4,544,227 + 48,827 + 187,694 Bank premises 89,949 + 30 + 8,527 Other assets 131,108 + 13,009 + 34,502 TOTAL ASSETS 51,463!300 + 94,705 + 366,904 L I A B I L I T I ES Federal Reserve notes 27,006,647 139,078 74,486 Deposits: Member bank reserves 18,188,428 51,385 + 26,503 U. S. Treasurer—general account 518,136 + 42,981 + 17,155 Foreign 313,924 + 58,070 29,951 Other 330,615 + 11,114 + 58,649 Total deposits 19,351,103 + 60,780 + 72%355 Deferred availability cash items 3,731,344 - 87,634 + 217,488 Other liabilities and accrued dividends 17,163 + 232 1,016 TOTAL LIABILITIES 50,106,257 + 112,457 + 363,314 C A P I T AL A C C O U N TS + 267 + 17,865 Capital paid in 356,024 Surplus (Section 7) ., 809,195 3 + 61,602 Surplus (Section 13b )=/ - 27,543 - 27,543 Other capital accounts + 9,527 - 48,334 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.4&388 + 94,705 + 366.904 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.1$ - .3% - 3*4% Contingent liability on acceptances purchased for foreign correspondents 87,300 - 5,913 + 21,880 Industrial loan commitments 1,036 — - 313 1/ Eliminated September 2 in connection with repayment of advances previously received from the Treasury under Section 13b of the Federal Reserve Act. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 3, 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 182,158 179 8,328 305,610 16 days to 90 days 2,430 20 22,756 8,937,015 91 days to 1 year 63 13,649,726 Over 1 year to 5 years 79 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,3%, W Total 184;588 31,084 25,3(16,122 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK SEPTEMBER 3. 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) A S S E TS Gold certificate account 19,550,894 941,107 5,189,728 1092,115 1691,045 1130,176 857,798 3531,982 769,862 407,424 793,363 699,146 2447,148 Redemption fund for F. R. notes 873,313 57,443 176,294 56,943 78,598 73,986 48,521 160,696 42,532 21,250 42,177 28,360 86,513 Total gold certificate reserves 20,424,207 998,550 5,366,022 1149,058 1769,643 1204,162 906,319 3692,678 812,394 428,674 835,540 727,506 2533,661 F.R, notes of other Banks 312,261 26,114 63,541 32,817 11,026 25,434 51,680 24,064 9,012 15,696 7,356 17,027 28,494 Other cash 359,486 26,021 82,829 19,544 35,120 19,626 27,749 57,951 20,080 7,688 10,029 15,159 37,690 Discounts and advances 184,588 13,300 23,535 2,960 11,205 20,590 27,095 37,075 21,395 5,800 20,180 1,453 Industrial loans 341 327 14 Acceptances- Bought outright 31,084 31,084 U. S, Govt, securities: Bought outright- Bills 1,385,060 75,414 349,268 79,620 122,612 90,155 70,477 241,942 56,501 29,138 59,118 54,255 156,560 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 6^5 11 508 1,74 74 09 1 210 427 391 1,130 Bonds 2*48^171 135.236 626.327 142.777 219.876 161.674 126.382 433.865 101.323 52.251 106.015 97,292 280,753 Total 25,386,122 1382,224 6,401,568 1459,296 2247,306 1652,433 1291,722 4434,448 1035,601 534,048 1083,556 994,400 2869,520 Held under repurchase agreement Total U. S. Govt, sees. 25.386.122 1382.224 6.401.568 1459.296 2247.306 1652.433 1291.722 4434.448 1035.601 534.048 1083.556 994.400 2869.520 Total loans & securities 25,602,135 1395,851 6,456,187 1462,256 2258,511 1673,023 1318,817 4471,523 1056,996 539,862 1103,736 995,853 2869,520 Due from foreign "banks 15 1 V 4 1 1 1 12 1 2/ 1 1 1 Uncollected cash items 4,544,227 333,744 8467580 309,446 389,111 368,594 356,056 694,369 182,894 137,B76 271,518 218,027 436,012 Bank premises 89,949 4,733 10,479 4,335 9,981 6,705 8,701 8,651 6,882 5,230 4,870 7,646 11,736 Other assets 131.108 7.026 31.764 7.276 12.018 8.380 6.837 24.328 5.176 2.751 5.964 5.195 14.393 TOTAL ASSETS 51,463,388 2792,040 12,857,406 2984,733 4485,411 3305,925 2676,160 8973,566 2093,435 1137,777 2239,014 1986,414 5931,507 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

H.i'.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 3, 1958 Total Boston New York Richmond Atlanta Chicago ™™!a ^ity" 1 EallaB FraSsco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,006,64? 1587,677 6,360,941 1671,637 2495,916 2087,945 1321,065 5212>430 1192,014 556,208 1078,263 748,228 2694,323 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,188,428 757,520 5,006,483 899,526 1477,753 804,332 937,229 2909,221 652,400 4c6,830 836,620 918,220 2582,294 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 518,136 41,484 81,580 41,437 38,551 30,927 35,861 53,339 28,646 23,143 46,025 44,033 53,110 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 313,924 17,214 1/97,088 20,838 26,878 15,402 13,590 43,186 11,174 7,248 11,778 15,704 33,824 OOOOOttttthhhhheeeeerrrrr 330,615 602 "280,326 2,538 1,563 4,199 1,407 409 653 349 1,072 2,032 35,465 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,351,103 816,820 5,465,477 964,339 1544,745 854,860 988,087 3006,155 692,873 437,570 895,495 979,989 2704,693 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,731,344 309,163 655,014 257,172 320,257 292,094 301,433 552,239 155,042 109,650 210,474 188,055 380,751 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 17,163 1,182 4,088 835 2,105 843 925 2,749 639 727 647 656 1,767 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,106,257 2714,842 12,485,520 2893,983 4363,023 3235,742 2611,510 8773,573 2040,568 1104,155 2184,879 1916,928 5781,534 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 356,024 17,913 103,668 21,650 33,476 16,119 18,003 48,875 12,060 8,205 14,526 20,116 41,413 SSSSSuuuuurrrrrpppppllllluuuuusssss 809,195 47,148 223,530 56,214 71,541 41,165 36,198 121,515 31,560 19,761 30,524 40,926 89,113 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 191,912 12,137 44,688 12,886 17,371 12,899 10,449 29,603 9,247 5,656 9,085 8,444 19,447 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,463,388 2792,040 12,857,406 2984,733 4485,411 3305,925 2676,160 8973,566 2093,435 1137,777 2239,014 1986,4i4 5931,507 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 87,300 4,976 2/24,619 6,024 7,770 4,452 3,928 12,484 3,230 2,095 3,405 4,539 9,778 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,036 __ __ — 96 — — — — —— —— 94o — — —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,820,706 1641,902 6,558,001 1720,345 2548,604 2139,526 1376,676 5309,630 1236,234 569,560 1104,777 798,095 2817,356 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 600,000 3,270,000 64o,ooo 1000,000 775,000 425,000 2300,000 430,000 170,000 300,000 283,000 1300,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,493,000 —— — — 2,960 —— — — — — -- 21,395 —- 20,180 -- —- EElliiggiibbllee ppaappeerr 44,535 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,520,000 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 TToottaall ccoollllaatteerraall 29,057,535 1750,000 6,870,000 1842,960 2600,000 2175,000 1425,000 5500,000 1351,395 595,000 1140,180 808,000 3000,000 1/ After deducting $216,836,000 participations of other Federal Reserve Banks. 2/ After deduct!-. ? $62,681,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis