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 25, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and. STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending September 24 decreased $168 millio nto $18,404 million. Estimated required reserves decreased $135 million; and estimated excess reserves decreased $33 million to $654 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $221 million, compared with $12 4million the week before. The principal changes reducing average reserves were decreases of $130 million in member ban kborrowings, $108 million in U, S. Government securities bought outright, and $44 million in gold stock, and an increase of $204 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $154 million in Federal Reserve float, and decreases of $108 million in money in circulation and $89 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $86 million. As of Wednesday, September 24, holdings of U. S. Government securities bought outright were $55 million lower than a week earlier and member bank borrowings were $130 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 24, 1958 Sept. IT. 19581 sept. 25,1957 (In millions of dollarsf Reserve Bank credit: U. S. Government securities -- Bought outright--System account 24,893 108 + 1,720 - Held under repurchase agreement Acceptances—bought outright 29 - 2 + 10 Loans, discounts, and advances-- . Member bank borrowings 433 130 - 667 Other * — - - 7 Float 1,203 + 154 «* 115 Total Reserve Bank credit 26,558 - 16 + 936 Gold stock £0,895 - 44 * 1,733 Treasury currency outstanding 5,216 4- 1 93 52,669 129 704 - Money in circulation 31,285 - 108 + 233 Treasury cash holdings 683 - 11 - 86 Treasury deposits with F. R. Banks 508 4- 204 - 251 Foreign deposits with F. R. Banks 308 - 89 - 78 Other deposits with F. R. Banks 320 + 38 + 65 Other F. R. accounts (net) 1,162 + 6 ?7 • 34,265 + 39 1^5 Member bank reserves— 18,404 168 tm 559 Required reserves (estimated) 17,75? - 135 - 666 Excess reserves (estimated) 654 - 33 + 107 * Less than $500,000. For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWEIVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 20,874 Treasury cash holdings 686 Treasury currency outstanding 5>219 Member bank) - Required (est.) 17,691 Money in circulation 31*176 reserves ) - Excess (est.) 410 On September 24, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,534 million, an increase of $108 million for the week and an increase of $99 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) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 24, Sept. 17, Sept. 25, 1958 1958 mi A S S E TS Gold certificate account 19,415,892 16,001 - 1,683,499 Redemption fund for F. R. notes 872.431 -1,10-3. + 2 9 . 1 89 Total gold certificate reserves 20,288,323 17,104 - 1,654,310 F. R. notes of other Banks 400,355 + 38,420 40,722 Other cash 385,370 + 16,298 1,233 Discounts and advances 336,673 + 129,513 - 445,384 265 Industrial loans 340 Acceptances--bought outright 28,102 799 + 11,223 U. S. Government securities: Bought outright-- 858,810 55,000 + 441,937 Bills Certificates 21,507,291 + 1,573,679 10,000 —— + 10,000 Notes Bonds 2.483.771 - - 311422 Total bought outright 24,859,872 55,POO + 1,707,637 Held under repurchase agreement Total U. S. Government securities 55.000- + 1,70T,637 Total loans and securities 25,224,987 + 73,714 + 1,273,211 Due from foreign banks ~ 15 7 Uncollected cash items 5,356,869 -1,031,769 + 266,793 Bank premises 90,495 + 320 + 8,580 Other assets 153.318 + H ,% + 24.858 TOTAL ASSETS 51.899.732 - 908.526 - 122,830 L I A B I L I T I ES Federal Reserve notes 26,843,919 - 106,679 + 69,913 Deposits: Member bank reserves 18,101,038 346,215 493,029 U. S. Treasurer—general account 489,723 297,678 115,535 Foreign 313,522 42,923 56,6 I 10 Other 18,352 68,524 89,1 Total deposits 19,242)635 22,936 576,02' Deferred availability cash items 4,408,076 789,729 + 302,532 Other liabilities and accrued dividends 19.088 1,512 + 566 203,016 TOTAL LIABILITIES 50,513,718 - 917,832 - C A P I T AL A C C O U N TS Capital paid in 357,002 + 82 + Surplus 809,195 - iA 34,059 Other capital accounts 219.817 9,Jg2k -L 27.501 TOTAL LIABILITIES AND CAPITAL ACCOUNTS _5ls£SO*m - 908.526, 122.830 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.0& + .1# Contingent liability on acceptances purchased for foreign correspondents 77,447 1,102 10,443 300 InrCdiuUsStWrli&alA lXUofactnL L ctoUmMmliitWmleUnCUtWs O ^ ^ 1,031 ^ i/'mriiL. pTiSTto September 2, 1958, Section 13b surplus of $27,543,000. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 24, 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 333,565 178 9,107 230,600 US days to 90 days 3,108 29 18,995 8,485,775 91 days to 1 year 58 13,649,726 1,023,614 Over 1 year to 5 years 75 83,910 Over 5 years to 10 years 1.386.247 Over 10 years Total 336,673 340 28,102 24,859,872 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 OH SEPTEMBER 24, 1958 Total Boston New York Phila Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco A S S E TS (In thousands of dollars) Gold certificate account 19,415,892 936,430 5,047,132 101+3,138 1679,329 1117,140 858,045 3533,787 768,382 443,903 798,348 751,753 2438,505 Redemption fund for F. R. notes 872,431 57,035 174,365 56,316 78,908 71,874 53,125 159,985 42,331 21,022 42,036 29,243 86,171 Total gold certificate reserves 20,288,323 993,465 5,221,517 1099,454 1758,237 1189,014 911,170 3693,772 810,713 464,925 840,384 780,996 2524,676 F.R. notes of other Banks 400,355 29,627 92,617 45,625 16,498 32,341 48,895 29,082 12,092 13,070 12,360 24,661 43,487 Other cash 385,370 28,296 83,626 20,605 33,715 23,851 30,848 61,849 20,394 7,916 11,073 15,967 47,230 Discounts and advances 336,673 17,850 27,645 24,720 54,810 42,855 47,450 71,075 18,675 6,090 14,953 7,050 3,500 Industrial loans 340 327 13 Acceptances— Bought outright 28,102 28,102 U. S. Govt, securities: Bought outright— Bills 858,810 46,760 216,564 49,369 76,026 55,901 43,700 150,016 35,034 18,067 36,656 33,641 97,076 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 2,483,771 135.2^6 626.127 142.777 219.876 l6l.6?4 126.182 411.865 101.323 52.251 106.015 97.292 280.753 Total 24,859,872 1353,570 6,268,864 1429,045 2200,720 l6l8,179 1264,945 4342,522 1014,134 522,977 1061,094 973,786 2810,036 Held under repurchase agreement Total U. S. Govt, sees. 24,859,872 1353,570 6,268,864 1429,045 2200,720 1618,179 1264,945 4342,522 1014,134 522,977 106l,094 973,786 2810,036 Total loans & securities 25,224,987 1371,747 6,324,611 1453,765 2255,530 1661,034 1312,395 4413,597 1032,809 529,080 1076,047 980,836 2813,536 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,356,869 391,075 99B,ii9 320,775 478,531 422,862 429,803 815,440 235,226 157,217 272,161 290,038 545,622 Bank premises 90,495 4,733 10,497 4,312 9,951 6,680 8,815 8,882 6,882 5,250 4,884 7,716 11,893 Other assets 153,318 8,116 37,633 8,432 13,571 9,753 8,064 28,036 6,009 3.224 7,247 6.305 16,928 TOTAL ASSETS 51,899,732 2827,060 12,768,624 2952,969 4566,034 3345,536 2749,991 9050,660 2124,126 1180,682 2224,157 2106,520 6003,373 l/ After deducting $ll,000participations of other Federal Reserve Banks. Digitized for FRASER 2/ Less than $500,000. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 24, 1958 Total Boston | New York | Richmond Atlanta Chicago ^ Minne- j Kansas D a U a s ^^ LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,843,919 1570,073 6,309,824 1660,991 2489,193 2080,946 1318,226 5189,174 1185,791 563,474 1067,804 752,028 2656,395 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr tttttaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,101,038 ' 763,104 4,977,808 875,507 1467,161 769,859 937,369 2851,882 649,466 415,402 836,740 960,748 2595,992 489,723 39,869 40,959 27,492 38,758 40,338 28,887 69,492 33,177 30,194 36,993 40,629 62,935 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... FFFFFooooorrrrreeeeeiiiiigggggnnnnn 313,522 17,613 1/91,660 21,321 27,501 15,759 13,905 44,187 11,433 7,4l6 12,051 16,068 34,608 OOOOOttttthhhhheeeeerrrrr 338,352 257 284,118 1,844 759 3,169 1,569 1,482 761 197 1,201 2,165 40,830 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,242,635 620,043 5,394,545 926,164 1534,179 «29,125 981,730 2967,043 694,037 453,209 886,985 1019,610 2734,365 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,408,076 356,235 680,128 272,484 415,857 362,572 383,213 686,272 188,891 129,075 213,298 263,343 456,708 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 19,088 1,276 4,817 801 2,031 891 868 2,926 716 848 716 982 2,216 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,513,718 2748,427 12,389,314 2860,440 4441,260 3273,534 2684,037 8845,415 2070,235 ll46,6o6 2168,803 2035,963 5849,684 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 357,002 17,924 103,673 21,790 33,496 16,163 18,010 48,990 12,075 8,222 14,568 20,138 41,953 SSSSSuuuuurrrrrpppppllllluuuuusssss 809,195 47,148 223,530 56,214 71,541 4l,l&5 36,198 121,515 31,560 19,761 30,524 40,926 89,113 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 219,817 13,561 52,107 14,525 19,737 14,674 11,746 34,740 10,256 6,093 10,262 9,493 22,623 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD 51,899,732 2827,060 12,768,624 2952,969 4566,034 3345,536 2749,991 9050,660 2124,126 1180,682 2224,157 2106,520 6003,373 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 77,447 4,417 2/21,802 5,347 6,897 3,952 3,488 11,083 2,868 1,860 3,023 4,030 8,680 1,031 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,821,129 1638,721 6,568,793 1717,750 2548,650 2141,269 1385,811 5289,238 1239,545 577,654 1103,965 799,451 2810,282 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,518,000 600,000 3,270,000 640,000 1000,000 775,000 425,000 2300,000 430,000 185,000 300,000 293,000 1300,000 EElliiggiibbllee ppaappeerr 58,348 — - - 24,720 — -- -- -- 18,675 - - 14,953 -- -- 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 29,146,348 1750,000 6,870,000 1864,720 2600,000 2225,000 1425,000 5500,000 1348,675 610,000 1134,953 818,000 3000,000 1/ After deducting $221,862,000 partic ipations of other Federal Reserve Banks, 2/ After deducting $55 , 645,000 partic ipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis