H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVMnORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 9, 1958 WEEKLY AVERAGES OF MEMBER BAH RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS arid STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending October 8 increased $84 million to $18,318 million. Estimated required reserves decreased $28 million; and estimated excess reserves increased $112 million to $6o4 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $171 million, compared with $92 million the week before. The principal changes supplying average reserves were increases of $203 million in U. S. Government securities bought outright and $33 million in member bank borrowings, and a decrease of $44 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $137 million in money in circulation and $38 million in foreign deposits with Federal Reserve Banks, and a decrease of $36 million in gold stock. Total Reserve Bank credit increased $244 million. As of Wednesday, October 8, holdings of U. S. Government securities bought outright were $175 million higher than a week earlier and member bank borrowings were $184 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items October 8, 1958 Oct. 1, 1958 i Oct. 9, 1957 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,143 +203 +1,831 Held under repurchase agreement - 233 ~ «•» -- Acceptances--bought outright 31 + 2 + 14 Loans, discounts, and advances— Member bank borrowings 433 + 33 - 570 Other 1 6 — — Float 911 + 7 - 80 Total Reserve Bank credit 26,519 +244 + 955 Gold stock 20,830 - 36 -1,816 Treasury currency outstanding 5,219 — — + 92 52,569 +209 - 767 Money in circulation 31,352 +137 + 223 Treasury cash holdings 691 - 83 Treasury deposits with F. R, Banks 447 - 1 - 51 Foreign deposits with F. R. Banks 299 + 38 - 74 Other deposits with F. R. Banks 343 - 44 + 83 Other F. R. accounts (net) 1,119 - 4 + 7 34,251 +125 + 104 Member bank reserves-- 18,318 + 84 - 871 Required reserves (estimated) 17,714 - 28 - 911 Excess reserves (estimated) 604 +112 + 4o 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 20,825 Treasury cash holdings 693 Treasury currency outstanding 5,220 Member bank) - Required (est.) 17,690 Money in circulation 31,409 reserves ) - Excess (est.) 536 On October 8, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,605 million, an increase of $43 million for the week and an increase of $151 million from the comparable date Digitiaze dy foera FrR ASaEgRo . 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 8, October 1. October 9, 1957 1958 1958 A S S E TS Gold certificate account 19,357,892 + 1,998 -1,748,501 Redemption fund for F. R. notes 880,250 - 2,033 + 27,981 Total gold certificate reserves 20,238,142 - 35 -1,720,520 F. R. notes of other Banks 340,748 - 27,474 - 36,759 Other cash 363,575 - 19,614 - 3,700 Discounts and advances 382,825 + 183,800 - 301,330 Industrial loans 340 - 271 Acceptances—bought outright 32,206 + 3,102 + 15,333 U. S. Government securities: Bought outright— Bills 1,221,210 + 175j400 + 644,237 Certificates 21,507,291 +1 ,573,679 Notes 10,000 + 10,000 Bonds 2,483,771 - 317,979 Total bought outright 25,222,272 + 175,400 +1,909,937 Held under repurchase agreement -- -- - 148,300 Total U. S. Government securities 25,222,272 + 175,400 +1,761,637 Total loans and securities 25,637,643 + 362,302 +1,475,369 Due from foreign banks 15 + 3 Uncollected cash items 4,603,891 • 578,752 + 110,760 Bank premises 90,553 + 79 8,198 Other assets 177,333 + 12,129 + 17,828 TOTAL ASSETS 51,451,900 - 251,365 - 148,821 L I A B I L I T I ES Federal Reserve notes 26,999,484 + 118,395 + 146,763 Deposits: Member bank reserves 18,225,564 + 171,397 - 466,351 U. S. Treasurer--general account 353,358 - 87,920 ~ 150,662 Foreign 325,495 + 50,783 - 11,271 Other 349,203 ~ 48,409 + 95,735 Total deposits 19,253,620 + 85,851 - 532,549 Deferred availability cash items 3,810,561 - 467,709 + 202,029 Other liabilities and accrued dividends 20,534 + 2,437 + 168 TOTAL LIABILITIES 50,084,199 261,026 183,589 C A P I T AL A C C O U N TS Capital paid in 357,176 + 38 + 18,473 Surplus 809,195 iA 34,059 Other capital accounts 201,330 + 9,623 17,764 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,451,900 - 251,365 - 148,821 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.8# 3.356 Contingent liability on acceptances purchased for foreign correspondents 71,238 3,943 95 Industrial loan commitments 1,031 285 1/ Includes, prior to September 2, 1958# Section 13b surplus of $27,543,000. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 8, 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 379,085 187 7,506 160,800 16 days to 90 days 3,740 20 24,700 8,917,975 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 1,386,247 Total 382,825 153 32,206 25,222,272 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 8, 1938 E.4.1(b) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco ) (In thousands of dollars) A S S E TS 457,408 805,280 780,156 2395,982 Gold certificate account 19,357,892 942,972 5,108,801 1029,681 1642,759 1150,021 835,994 3449,541 759,297 Redemption fund for 20,969 29.209 86.076 F. R. notes 880,250 56,906 173.842 56,124 78,704 81,358 53,025 159,766 42,281 41,990 Total gold certificate reserves 20,238,142 999,878 5,282,643 1085,805 1721,463 1231,379 801,578 478,377 847,270 809,365 2482,058 F.R. notes of other Banks 340,748 22,942 89,277 34,514 13,319 29,709 43,317 25,467 8,810 12,053 9,034 18,443 33,863 Other cash 363,575 26,843 75,960 19,267 33,573 22,215 29,467 62,751 16,172 8,423 10,543 15,198 43,163 Discounts and advances 382,825 11,190 32,163 10,003 57,462 30,161 54,932 121,950 10,6l6 11,117 25,467 17,686 78 13 Industrial loans 340 327 Acceptances- Bought outright 32,206 32,206 U. S. Govt, securities: Bought outright— 25,691 Bills 1,221,210 66,492 307,950 70,201 108,108 79,490 62,140 213,320 49,817 52,124 47,837 138,040 )94,355 3756,894 877,368 452,449 917,996 842,462 2431,077 Certificates 21,507,291 Notes 10,000 545 2,523 574. 508 885 651 1,747 409 210 427 391 1,130 135,236 626,327 142,777 219,876 161,674 126,382 433,665 101,323 52,251 106,015 97,292 280,753 Bonds 2.483.771 25,222,272 1373,302 6,360,250 1449,077 2232,802 1041,768 1203,305 4405,826 1028,917 530,601 1076,562 987,982 2851,000 Total Held under repurchase agreement 1373.302 6.360.250 1449,877 2232.802 1641.768 1283,386 4405,826 1028.917 530,601 1076,562 987,982 2851,000 Total U. S. Govt, sees. 25.222.272 1005,668 2851,078 1384,819 6,424,619 1459,880 2290,264 1671,929 1338,317 4527,776 1039,533 $41,731 1102,029 Total loans & securities 25,637,643 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 11 Uncollected cash items 4,603,891 322,435 8457376 290,228 392,680 364,792 376,076 728,171 218,225 148,090 243,570 216,354 457,894 Bank premises 90,553 4,699 10,482 4,312 9,949 6,668 8,964 8,853 6,874 5,246 4,878 7,735 11,893 Other assets 177.333 9.^4 43.971 9.859 15.881 11,288 9.125 32,163 6,2EL 3.687 8.312 7.022 19.694 2770,971 12,772,334 2903,86 6 4477,130 3337,981 2694,286 8994,490 2098,168 1197,607 2225,637 2079,786 5899,644 TOTAL ASSETS 51,451,900 1/ After deducting $11,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ Less than $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 8, 1958 Total Boston New York P d h e i l l p a hi - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s K C a i n t s y a s Dallas Fran S c a i n s co , .. , . , , (In thousands of dollars) ' Federal Reserve notes 26,999,484 1576,449 6,315,656 1662,790 2494,207 2105,118 1343,329 5205,398 1193,242 568,771 1078,071 755,623 2700,830 Deposits: Member hank reserves 18,225,564 783,039 5,017,550 848,801 1465,825 795,038 930,923 2881,803 651,912 435,082 853,265 1020,744 2541,582 U.S.Treas.-gen.acct. 353,358 16,436 56,483 33,936 21,919 4l,l42 19,431 35,946 12,975 26,913 34,431 22,733 31,013 Foreign 325,495 17,841 1/100,761 21,597 27,857 15,963 14,085 44,759 11,581 16,276 35,056 7,512 12,207 Other 349,203 678 293,939 905 1,492_ 4,031 1,698 2,804 1.797 -M9 2.708 1.937 36.745 Total deposits 19,253,620 017,994 5,460,733 678,265 902,611 1061,690 905,239 1517,093 856,174 966,137 2965,312 469,976 2644,396 Deferred availability cash items 3,810,561 297,438 608,309 243,364 340,187 304,785 318,842 618,648 172,698 124,157 189,538 191,802 400,793 Other liabilities and accrued dividends 20,534 I,407 5,235 1,049 2,495 1,043 957 3.213 720 W. J23- 845 1.870 TOTAL LIABILITIES 50,084,199 2693,288 12,397,933 2812,442 4353,982 3267,120 2629,265 8792,571 2044,925 1163,811 2171,01 32009,960 5747,889 CAPITAL ACCOUNTS Capital paid in 357,176 17,942 103,651 21,795 33,496 16.164 18,045 49,020 12,077 8,236 14,637 20,160 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 201,330 12,593 47,220 13,415 18,111 13,532 10,778 31,384 9.606 5,799 9,463 8.740 20.689 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,451,900 2770,971 12,772,334 2903,866 4477,130 3337,981 2694,286 8994,49 02098.168 1197,60 72225.637 2079.78 65899.644 Conting. liah. on acceptances purchased for foreign correspondents 71,238 4,059 2/20,116 4,913 6,337 3,631 3,204 10,182 2,634 1,709 2,777 3,702 7,974 Industrial loan commit. 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,869,699| 1632,520 6,547,789 1714,794 2556,238 2162,567 1397,861 5316,029 1245,041 579,251 1103,723 797,238 2816,648 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 45,985 9,955 -- -- -- -- 10,590 —— 25,44o —— —— "U. S. Govt, securities 17,570,000 1150,000 3,600,000 1200,000 1600,000 1450,000 1000,000 3200,000 900,040205, 000 820,000 525,000 1700,000 Total collateral 29,133,98511750,000 6,870,000 1849,955 2600,000 2225,000 1425,000 5500,000 1340,590 610,000 1145,440 818,000 3000,000 1/ After deducting $224,734,000 participations of other Federal Reserve Banks. 2/ After deducting $51,122,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis