H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 11, 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 September 10 increased $33 million to $18,479 million. Estimated required reserves decreased $57 million; and estimated excess reserves increased $90 million to $679 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $165 million, compared with $128 million the week before. The principal changes supplying average reserves were increases of $91 million in Federal Reserve float and $53 million in member bank borrowings, and decreases of $6l million in Treasury deposits with Federal Reserve Banks and $22 million in "other" F. R, accounts (net), The principal offsetting changes were a decrease of $120 million in U. S. Government securities bought outright, and increases of $54 million in money in circulation and $25 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $23 million. As of Wednesday, September 10, holdings of U. S. Government securities bought outright were $306 million lower than a week earlier and member bank borrowings were $280 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 10 1958 . . S.. ept. 3. 195mSept. 11, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,233 -120 +1,866 Held under repurchase agreement — — •» - 32 Acceptances--bought outright 31 - 1 + 7 Loans, discounts, and advances-- Member bank borrowings 514 + 53 - 511 Other * 7 Float 883 + 91 r 70 Total Reserve Bank credit 26,661 + 23 +1,253 Gold stock 21,012 + 1 -l,6l4 Treasury currency outstanding 5,213 + 2 + 94 52,886 + 25 - 267 Money in circulation 31,433 + 54 + 177 Treasury cash holdings 694 + 1 65 Treasury deposits with F. R. Banks 478 - 61 + 47 Foreign deposits with F. R. Banks 330 + 25 - 27 Other deposits with F. R. Banks 319 - 5 + 40 Other F. R. accounts (net) 1,153 - 22 4l 34,407 - 8 + 129 Member bank reserves-- 18,479 + 33 - 397 Required reserves (estimated) 17,800 - 57 - 501 Excess reserves (estimated) 679 + 90 + 104 * 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 21,012 Treasury cash holdings 700 Treasury currency outstanding 5,215 Member bank) - Required (est.) 17,828 Money in circulation 31,409 reserves ) - Excess (est.) 343 On September 10, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,4l8 million, an increase of $49 million for the week and a decrease of $113 million from the comparable date Digitizae dy foera FrRA aSgERo. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDTION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 10, Sept. 3, Sept. 11, 1958 1958 1957 A S S E TS Gold certificate account 19,545,893 - 5,001 -1,563,499 Redemption fund for F. R. notes 878,312 + 4,999 + 42,107 Total gold certificate reserves 20,424,205 - 2 -1,521,392 F. R. notes of other Banks 335,468 + 23,207 - 55,898 Other cash 363,933 + 4,447 9,924 Discounts and advances 464,100 + 279,512 - 256,247 Industrial loans 341 -- 202 Ac ceptances--bought outright 30,084 - 1,000 + 6,413 U. S. Government securities: Bought outright-- Bills 1,079,560 - 305,500 + 457,687 Certificates 21,507,291 +1,573,679 Notes 10,000 —— 4* 10,000 Bonds 2,483,771 — - 317,979 Total bought outright 25,080,622 - 305,500 +1,723,387 Held under repurchase agreement Total U. S. Government securities 25,080,622 - 305,500 +1,723,387 Total loans and securities 25,575,147 26,988 +1,473,351 Due from foreign banks 15 7 Uncollected cash items 4,738,744 + 194,517 - 86,726 Bank premises 90,029 + 80 + 8,241 Other assets 143,446 + 12,338 + 31,541 TOTAL ASSETS 51,6701987 207,599 - 160,814 L I A B I L I T I ES Federal Reserve notes 27,005,642 1,005 + 75,848 Deposits: Member bank reserves 18,171,421 - 17,007 - 365,685 U. S. Treasurer--general account 511,567 6,569 + 21,846 Foreign 382,432 + 68,508 + 27,325 Other 318,602 - 12,013 + 57,968 Total deposits 19,384,022 + 32,919 - 258,546 Deferred availability cash items 3,896,482 + 165,138 + 23,385 Other liabilities and accrued dividends 18,244 + 1, 081 1,261 TOTAL LIABILITIES 50,304,390 195A33 - 160,574 C A P I T AL A C C O U N TS Capital paid in 356,252 228 + 18,050 Surplus 809,195 iA 34,059 Other capital accounts 201,150 9,238 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,670,987 207,599 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.0# S.I# Contingent liability on acceptances purchased for foreign correspondents 82,781 4,519 20,263 Industrial loan commitments , 1, 0_3 6 367 1/ Includes, prior to September 2, 1958, Section 13b surplus of $27,543,000 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 10, 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 462,120 179 6,482 292,650 16 days to 90 days 1,980 20 23,602 8,644,475 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 m 1.386.2V7 Total 464,100 30,084 25,080,622 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 10, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apollG City Francisco (In thousands of dollars) A S S E TS Gold certificate account 19,545,893 900,673 5,303,893 1040,307 1626,578 1171,761 861,283 3505,503 771,668 447,501 795,868 717,995 2402,863 Redemption fund for P.. R. notes 878,312 57,443 176,294 56,943 78,598 73,986 53,521 160,696 42,532 21,250 42,176 28,360 86,513 Total gold certificate reserves 20,424,205 958,116 5,480,187 1097,250 1705,176 1245,747 914,804 3666,199 814,200 468,751 838,044 746,355 2489,376 F.R. notes of other Banks 335,468 25,423 75,706 40,462 12,913 30,295 48,553 25,346 9,859 14,214 10,516 17,909 24,272 Other cash 363,933 27,109 82,423 20,005 35,029 20,724 26,860 59,638 20,113 7,440 10,290 14,993 39,309 Discounts and advances 464,100 35,440 90,170 33,525 93,270 13,960 20,045 103,020 17,550 4,490 32,430 8,950 11,250 "Industrial loans 341 327 14 Acceptances-- Bought outright 30,084 30,084 U. S. Govt, securities; Bought outright— m i ls 1,079,560 58,780 272,230 62,059 95,568 70,270 54,932 188,577 44,039 22,711 46,078 42,288 122,028 ^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 JHotes 10,000 545 2,523 574 885 651 508 1,747 409 210 427 391 1,130 -Bonds 2,483,771 135,, 213266 ,382 642363,,382675 142,777 219,876 161,674 101,323 52,251 106,015 97.292 280.753 Total 25,080,622 1365,590 6,32^530 1441,735 2220,262 1632,54b 1276,177 4381,083 1023,139 527,621 1070,516 982,433 2834,988 -Held under repurchase agreement Total U. S. Govt, sees. 25.080,622 1365.590 6.324.530 1441,735 2220,262 1632,548 1276.177 4381.083 1023.139 527.621 1070.516 982.433 2834.988 Total loans & securities 25,575,147 1401,357 6,444,784 1475,260 2313,532 1646,508 1296,222 4484,103 1040,689 532,125 1102,946 991,383 2846,238 Due from foreign banks 15 1 - 1 /4 1 1 1 12 1 2 / 1 11 Uncollected cash items 4,738,744 338,696 8377475 287,181 434,918 397,004 397,108 743,219 205,481 145,000 251,373 231,049 470,240 Bank premises 90,029 4,733 10,480 4,335 9,969 6,707 8,706 8,651 6,882 5,237 4,878 7,715 11,736 Other assets 143.446 7.586 35.078 7.968 12.977 9.196 7.418 26.468 5.647 1.034 6.509 5.688 15.857. TOTAL ASSETS 51,670,987 2763,021 12,966,137 2932,462 4524,515 3356,182 2699,692 9013,626 2102,872 1175,801 2224,557 2015,093 5897,029 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.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 10, 1958 Total Boston | New York Richmond Atlanta Chicago ^ D a l l as FranSsco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,005,642 1582,066 6,338,378 1666,623 2498,187 2087,219 1326,422 5208,153 1192,158 564,613 1078,564 752,716 2710,543 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,171,421 730,532 5,211,677 876,043 1473,009 805,462 912,491 2864,245 652,305 419,510 830,390 932,846 2462,911 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 511,567 36,622 72,385 33,664 37,997 38,220 35,321 54,009 27,698 24,327 49,795 36,108 65,421 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 382,432 21,033 1/117,490 25,461 32,841 18,819 16,605 52,767 13,653 8,856 14,391 19,188 41,328 OOOOOttttthhhhheeeeerrrrr 318,602 400 266,449 1,919 1,613 4,125 1,891 789 1,684 308 1,217 1,710 36,497 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,384,022 788,587 5,668,001 937,087 1545,460 866,626 966,308 2971,810 695,340 453,001 895,793 989,852 2606,157 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,896,482 313,508 580,592 236,411 355,562 330,638 341,131 629,197 161,479 123,674 194,915 201,952 427,423 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 18,244 1,184 4,799 907 2,218 921 751 2,740 676 723 700 741 1,884 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,304,390 2685,345 12,591,770 2841,028 4401,427 3285,404 2634,612 8811,900 2049,653 1142,011 2169,972 1945,261 5746,007 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 356,252 17,917 103,669 21,787 33,472 16,131 18,007 48,883 12,072 8,211 14,563 20,125 41,415 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 201,150 12,611 47,168 13,433 18,075 13,482 10,875 31,328 9,587 5,818 9,498 8,781 20,494 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,670,987 2763,021 12,966,137 2932,462 4524,515 3356,182 2699,692 9013,626 2102,872 1175,801 2224,557 2015,093 5897,029 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----- 4 aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 82,781 4,720 2/23,330 5,713 7,369 4,223 3,726 11,840 3,064 1,987 3,229 4,306 9,274 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,036 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,894,595 1646,383 6,571,738 1719,574 2556,459 2149,981 1390,593 5317,221 1231,988 579,338 1109,878 799,996 2821,446 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,493,000 600,000 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 83,505 -- -- 33,525 — — — — 17,550 — 32,430 -- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,570,000 1150,000 3,600,000 1200,000 1600,000 1450,000 1000,000 3200,000 900,000 425,000 820,000 525,000 1700,000 TToottaall ccoollllaatteerraall 29,146,505 1750,000 6,870,000 1873,525 2600,000 2225,000 1425,000 5500,000 1347,550 595,000 1152,430 808,000 3000,000 l/ After deducting $264,942,000 participations of other Federal Reserve Banks. 2/ After deducting $59,451,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis