H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 2, 1958 WEEKLY AVERAGES OF MEMBER BAM RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member tank reserves for the week ending October 1 decreased $170 million to $18,234 million. Estimated required reserves decreased $46 million; and estimated excess reserves decreased $124 million to $492 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $92 million, compared with $183 million the week before. The principal changes reducing average reserves were decreases of $299 million in Federal Reserve float, $33 million in member bank borrowings, and $29 million in gold stock, and an increase of $67 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $47 million in U. S. Government securities bought outright, and decreases of $70 million in money in circulation, $60 million in Treasury deposits with Federal Reserve Banks, and $47 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased,$883 million. As of Wednesday, October 1, holdings of U. S. Government securities bought outright were $187 million higher than a week earlier and member bank borrowings were $138 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items October 1, 1958 "Sept. 24, 19581 Oct. "2, 1957 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 24,940 + 47 +1,646 Held under repurchase agreement - 52 - — -- Acceptances--bought outright 29 + 12 -- Loans, discounts, and advances— Member bank borrowings 400 - 33 - 535 Other 1 + 1 6 Float 904 -299 96 Total Reserve Bank credit 26,275 -283 + 971 Gold stock 20,866 - 29 -1,768 Treasury currency outstanding 5,219 + 3 + 94 52,360 -309 - 704 Money in circulation 31,215 - 70 + 176 Treasury cash holdings 691 + 8 85 Treasury deposits with F. R. Banks 448 - 60 45 Foreign deposits with F. R. Banks 261 - 47 - 95 Other deposits with F. R. Banks 387 + 67 + 134 Other F. R. accounts (net) 1,123 - 39 + 11 34,126 -139 + 98 Member bank reserves-- 18,234 -170 - 800 Required reserves (estimated) 17,742 - 46 - 943 Excess reserves (estimated) 492 -124 + 143 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 20,823 Treasury cash holdings 691 Treasury currency outstanding 5;219 Member bank) - Required (est.) 17,793 Money in circulation 31;24-3 reserves ) - Excess (est*) 261 On October 1, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3;5^2 million, an increase of $28 million for the week and an increase of $132 million from the comparable Digitized for FRASER date a year ago. 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 October 1, Sept. 24, October 2, 1958 1958 1957 A S S E TS Gold certificate account 19,355,8 94 - 59,998 -1,757,500 Redemption fund for F. R. notes 882,2 83 ± + 40,253 Total gold certificate reserves 20,238,1 77 r50,146 -1,717,247 F. R. notes of other Banks 368,2 22 - 32,133 - 48,285 Other cash 383,1 89 2,181 5,664 Discounts and advances 199,0 25 - 137,648 - 474,592 Industrial loans 340 259 Acceptances—bought outright 29,1 04 + 1,002 + 12,226 U. S. Government securities: Bought outright— Bills 1,045,8 10 + 187,000 + 468,837 Certificates 21,507,2 91 +1,573,679 10,0 00 + 10,000 Notes Bonds 2,483, - 317,979 Total bought outright 25,046, + 187,000 +1,734,537 Held under repurchase agreement - 148,200 Total U. S. Government securities 25.046.672 + 107,000 +1.586,337 Total loans and securities 25,275,341 + 50,354 +1,123,712 Due from foreign banks 15 7 Uncollected cash items 5,182,643 - 174,226 + 163,438 Bank premises 90,474 21 + 8,327 Other assets 165,204 + 11,886 + 21,410 TOTAL ASSETS 51,703,265 - 196,467 - 454,316 L I A B I L I T I ES Federal Reserve notes 26,881,089 + 37,170 + 61,064 Deposits: Member bank reserves 18,054,167 - 46,871 - 815,432 U. S. Treasurer--general account 441,278 48,445 6,601; Foreign 274,712 - 38,810 - 92,740 Other 397,612 + 59,260 + 138,030 Total deposits 19,167,769 : —K s ss - 776,743 Deferred availability cash items 4,278,270 - 129,806 + 222,561 Other liabilities and accrued dividends 18,097 991 pi - TOTAL LIABILITIES 50,345,225 - 168,493 - 493,473 C A P I T AL A C C O U N TS Capital paid in 357,138 + 136 + 18,641 Surplus 809,195 + 1/34,059 Other capital accounts 191,707 - 28,110 - 13,544 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,703,265 - 196.467 - 454,316 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.9# 3.( Contingent liability on acceptances purchased for foreign correspondents 75,181 2,266 + 7,174 Industrial loan commitments , 1,0 3_1 + 65 1/ Includes, prior to September 2, 1958, Section 13b surplus of $27,543,000* MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 1. 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 195,415 187 9,714 194,200 16 days to 90 days 3,610 20 19,390 8,709,175 91 days to 1 year 58 13,649,726 Over 1 year to 5 years 75 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,24? Total 199,025 30 29,104 25,046,872 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 1, 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 19,355,894 969,342 5,255,298 1024,459 1640,452 1127,584 829,174 3509,608 780,218 435*961 836,860 725,322 2221,616 Redemption fund for F. R. notes 882.283 57.024 174.345 56.308 78.894 81.871 53,111 159.961 42,327 21,007 42,029 29,242 86,164 Total gold certificate reserves 20,238,177 1026,366 5,429,643 1080,767 1719,346 1209,455 882,285 3669,569 822,545 456,968 878,889 754,564 2307,780 F.R. notes of other Banks 368,222 25,645 87,458 41,931 17,431 29,757 47,354 29,089 10,430 13,765 10,392 18,659 36,311 Other cash 383,189 28,629 80,665 20,853 34,436 23,417 29,278 63,794 18,561 8,692 11,099 17,442 46,323 Discounts and advances 199,025 8,890 2,588 3,533 5,872 44,941 28,332 70,750 11,431 2,707 13,217 4,686 2,078 Industrial loans 340 327 13 Acceptances-- Bought outright 29,104 — - 29,104 — — -- — " -- — - -- U. S. Govt, securities: Bought outright- Bills 1,045,810 56,942 263,720 60,118 92,580 68,073 53,215 182,682 42,662 22,001 44,638 40,966 118,213 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 2.483.771 135.236 626.127 142.777 219.876 161.674 126.382 433.865 101.323 52.251 106.015 97.292 280.753 1363,752 6,316,020 1439,794 1274,460 4375,188 1021,762 1069,076 Total 25,046,872 2217,274 1630,351 526,911 981,111 2831,173 Held under repurchase agreement Total U. S. Govt, sees. 25.046.872 1161.752 6.116.020 1439.794 2217.274 1630.351 1274.460 4375.188 1021.762 526.911 1069.076 981,111 2831,173 Total loans & securities 25,275,341 1372,969 6,347,712 1443,327 2223,146 1675,292 1302,792 4445,938 1033,193 529,631 1082,293 985,797 2833,251 jDue from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,182,643 371,833 9857086 313,242 480,547 410,255 372,979 852,796 216,644 155,266 289,251 245,837 488,907 4,699 6,667 8,963 6,860 Bank premises 90,474 10,482 4,312 9,949 8,853 5,224 4,878 7,694 11,893 Other assets 165.204 8.891 40.690 9.197 14.827 10.491 8.518 30.108 6.546 3.402 7,749 6.520 18,265 TOTAL ASSETS 51,703,265 2839,033 12,981,740 2913,630 4499,683 3365,335 2652,170 9100,149 2114,780 1172,948 2284,552 2036,514 5742,731 l/ After deducting $11,000 participations of other Federal Reserve Banks D2ig/itiz eLde fosr sFR AtShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 1, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston I New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES 26,881,089 1569,823 6,313,244 1660,687 2485,024 2092,664 1330,483 5190,541 1186,980 563,309 1070,504 751,294 2666,536 Federal Reserve notes Deposits: Member bank reserves 18,054,167 799,617 5,075,684 833,918 1439,131 805,852 896,740 2913,507 671,775 423,160 861,124 952,858 2380,801 U.S.Treas.-gen.acct. 441,278 31,046 58,007 45,149 25,969 29,299 37.339 55,521 22,249 15,861 50,443 31,920 38>475 Foreign 274,712 14,364 1/93,776 17,388 22,428 12,852 11.340 36,036 9,324 6,048 9,828 13,104 28,224 Other 397,612 360 340,902 1,293 1,162 3,877 2,530 2,043 1.312 362 1,576 1,653 40.542 Total deposits 19,167,769 845,387 5,568,369 897^748 1488,690 851/880 947/949 3007*107 704^660 445,431 922,971 999,535 2488,042 Deferred availability cash items 4,278,270 345,343 723,887 263,445 401,367 349,712 308,163 699,471 169,591 129,767 236,202 215,464 435,858 Other liabilities and accrued dividends 18,097 1,283 4,320 874 2,225 841 998 2,874 666 789 698 741 1,788 TOTAL LIABILITIES 50,345,225 2761,836 12,609,820 2822,754 4377,306 3295,097 2587,593 8899,993 2061,897 1139,296 2230,375 1967,034 5592,224 CAPITAL ACCOUNTS Capital paid in 357,138 17,924 103,674 21,794 33,496 16,164 18,025 49,010 12,075 8,235 14,632 20,156 41,953 Surplus 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 Other capital accounts 191,707 12,125 44,716 12,868 17,340 12,909 10,354 29,631 9,248 5,656 9,021 8,398 19,441 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,703,265 2839,033 12,981,740 2913,630 4499,683 3365,335 2652,170 9100,149 2114,780 1172,948 2284,552 2036,514 5742,731 Conting. liab. on acceptances purchased for foreign correspondents 75,181 4,286 2/21,188 5,189 6,693 3,835 3,384 10,754 2,782 1,805 2,933 3,910 8,422 Industrial loan commit. 1,031 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,828,657 1635,755 6,558,462 1717,791 2548,853 2152,501 1386,276 5301,069 1240,665 578,645 1104,286 797,398 2806,956 Collat. for F. R. notes: Gold certificate acct. 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 Eligible paper 28,080 -- 3,485 -- -- -- — 11,405 —- 13,190 — - — U. S. Govt, securities 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 Total collateral 29,116,080 1750,000 6,870,000 1843,485 2600,000 2225,000 1425,000 5500,000 1341,405 610,000 1133,190 818,000 3000,000 1/ After deducting $100,9^6,000 participations of other Federal Reserve Banks, 2/ After deducting $53,993,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis