H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERA LRESERVE SYSTEM October l6, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, 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 October 15, 1958 increased $157 million to $18,475 million .Estimated required reserves increased $210 million; and estimated excess reserves decreased $53 million to $551 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $79 million, compared with $171 millio nthe week before. The principal changes supplying average reserves were increases of $210 million in U. S. Government securities bought outright and $145 million held under repurchase agreement, an d$39 million in member bank borrowings, and a decrease of $6l million in Treasury deposits with Federa lReserve Banks. The principal offsetting changes were increases of $146 million in money in circulation, $69 million in "other" deposit swith Federal Reserve Banks, and $28 million in foreign deposits with Federal Reserve Banks, and a decrease of $66 millio nin gold stock. Total Reserve Bank credit increased $406 million. As of Wednesday, October 15, 1958, holdings of U. S. Government securities bought outright were $157 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $128 million higher, and member bank borrowings were $138 million lower. To provide further information and convenience in use, a fourth column has been added to the tabulation below showin gfigures as of Wednesday .Some of these Wednesday figures have been shown heretofore in a paragrap hfollowing the tabulation. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ending Change from week endingW ednesday, Reserve Bank credit, October 15, October 8,| October 16, Oct. 15, and related items 1958 1958 i 1957 1958 ((]]C n millions of dollars) Reserve Bank credit: U.S. Government securities-- Bought outright--System account 25,353 +210 +2,072 25,379 Held under repurchase agreement 145 +145 + 55 128 Acceptances—bought outright 3322 + 1 ++ 1155 3322 Loans, discounts, an dadvances-- Member bank borrowings 472 + 39 - 513 244 Other 1 6 1 Float 922 + 11 - 149 1,061 Total Reserve Bank credit 26,925 +lo5 +1,474 26,845 Gold stock 20,764 - 66 -1,894 20,775 Treasury currency outstanding 5,220 + 1 + 92 5,220 52,909 +3%0 - 327 52,840 Money in circulation 31,498 +146 + 307 31,486 Treasury cash holdings 689 - 2 - 87 68 3 Treasury deposits with F. R. Banks 386 - 61 - 120 340 Foreign deposits with F. R. Banks 327 + 28 6 324 Other deposits with F. R, Banks 412 + 69 + 160 339 Other F. R. account s(net) 1,121 + 2 + 11 1,119 34,434 +183 + 266 34,290 Member bank reserves-? 18,475 +157 - 593 18,550 Required reserves (estimated) 17,924 +210 - 650 17,939 Excess reserves (estimated) 551 - 53 + 57 611 On October 15, 1958, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,651 million, an increase of $46 million for the week and an increase of $154 millio nfrom 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 Oct. 1$, Oct.^ Oct. lb, 1958 1958 1957 A S S E TS Gold certificate account 19,316,893 40,999 -1,809,501 + 26,668 Redemption fund for F, R. notes 878,846 1,404 Total gold certificate reserves 20,195,739 42,403 -1,782,833 F. R. notes of other Banks 327,867 12,881 - 47,533 Other cash 358,967 4,608 - 10,399 Discounts and advances 244,855 137,970 - 344,557 Industrial loans 338 2 263 Acceptances—bought outright 32,265 59 + 15,877 U. S. Government securities: Bought outright— Bills 1,378,310 + 157,100 + 854,337 Certificates 21,507,291 +1,573,679 Notes 10,000 + 10,000 Bonds 2,483,771 - 317,979 Total bought outright 25,379,372 + 157,100 +2,120,037 Held under repurchase agreement 128,100 + 128,100 + 75,100 Total U. S. Government securities 25.507,472 +285.200 +2,195,137 Total loans and securities 25,784,930 + 147,287 +1,866,194 Due from foreign banks 15 + 3 Uncollected cash items 6,360,828 +1,756,937 + 134,988 + 8,236 Bank premises 90,676 + 123 Other assets 189,371 + 12,038 + 15,309 TOTAL ASSETS 53,308,393 +1,856^493 + 183,965 L I A B I L I T I ES Federal Reserve notes 27,056,338 + 56,854 + 189,988 Deposits: Member bank reserves 18,550,401 + 324,837 - 277,543 U. S. Treasurer—general account 339,713 - 13,645 - 203,596 Foreign 323,641 1,854 2,516 Other 338,730 - 10,473 + 77,485 Total deposits 19,552,455 + 298,865 - 406,170 Deferred availability cash items 5,300,312 +1,489,751 + 367,108 Other liabilities and accrued dividends 21.969 + .1,435 + 3,370 TOTAL LIABILITIES 51,931,104 +1,846,905 + 154,296 C A P I T AL A C C O U N TS Capital paid in 357,172 4 + 16,845 Surplus 809,195 -- l/+ 34,059 Other capital accounts 210,922 + . ?,5?2 - 21,235 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,308,393 +1,856,493 + 183,965 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.3# Contingent liability on acceptances purchased for foreign correspondents 67,659 3,579 2,063 Industrial loan commitments 1,019 12 66 1/ Includes, prior to September 2, 1958, Section 13b surplus of $27,543,000. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 15, 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 240,545 186 7,359 341,100 16 days to 90 days 4,310 19 24,906 9,022,875 91 days to 1 year 62 13,649,726 Over 1 year to 5 years 71 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 244,855 338 32,265 25,507%2 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER 15, 1958 Phila- Cleve- I , , St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta CChhiiccaaggoo Louis apolis City Dallas Francisco A S S E TS Gold certificate account 19,316,893 921,587 4,756,389 1058,004 1729,967 1137,451 859,624 3570,898 804,706 442,763 843,397 682,508 2509,599 Redemption fund for P. JR. notes 878,846 56,782 173,220 55,947 79,514 80,748 52,925 159,531 42,220 20,929 41,943 29.164 85,923 Total gold certificate reserves 20,195,739 978,369 4,929,609 1113,951 1809,481 1218,199 912,549 3730,429 846,926 463,692 885,340 711,672 2595,522 F-.R. notes of other Banks 327,867 17,320 87,443 28,417 12,443 28,108 43,318 27,006 9,148 9,766 10,129 20,483 34,286 Other cash 358,967 24,975 75,779 19,353 32,899 21,845 26,214 63,606 15,084 8,652 10,795 15,620 44,145 Discounts and advances 244,855 11,040 38,463 4,223 16,212 26,936 50,182 47,090 3,621 5,467 17,857 23,686 78 Industrial leans 338 327 11 Acceptances-- Bought outright 32,265 32,265 U. S. Govt, securities: Bought outright— Bills 1,378,310 75,046 347,565 79,232 122,015 89,716 70,134 240,763 56,226 28,996 58,830 53,990 155,797 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 2,483.771 135,236 626.327 142.777 219.876 l6l.6?4 126.382 433,865 101.323 52,251 106.015 97.292 280.753 Total 25,379,372 1381,856 6^399,865 1458,908 2246,709 1651,994 1291,37 94433,269 1035,326 533,906 1083,268 994,135 2868,757 Held under repurchase agreement 128,100 -•» 128,100 —* —— Total U. S. Govt, sees. 25,507,472 1381.856 6,527,965 1458.908 2246,70 91651.994 1291.379 4433,269 1035,326 533.906 1083,268 994,135 2868,757 Total loans & securities 25,784,930 1393,223 6,598,693 1463,131 2262,921 1678,930 1341,561 4480,35 91038,947 539,384 1101,125 1017,821 2868,835 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 6,360,828 435,753 1,324,782 440,621 556,998 489,757 468,531 1040,345 266,029 181,214 299,915 271,024 585,859 Bank premises 90,676 4,699 10,534 4,312 9,938 6,694 9,018 8,853 6,873 5,246 4,878 7,736 11,895 Other assets 189.371 10.164 47,036 10.536 16,589 12,067 9.755 34,284 7.455 3.921 8.810 7.723 21,031 TOTAL ASSETS 53,308,393 2864,504 13,073,880 3080,322 4701,270 3455,601 2810,947 9384,884 2190,463 1211,875 2320,993 2052,080 6l6l,574 1/ After deducting $11,000 participations of other Federal Reserve Banks. D2ig/itiz eLde fosr sF RtAShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

n.*+. L\CJ Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,056,338 1584,328 6,325,232 1665,744 2500,440 2107,239 1355,299 5213,105 1196,618 569,457 1077,258 758,382 2703,236 Deposits: 18,550,401 758,262 4,974,087 890,684 1542,398 821,136 967,879 2981,325 692,802 427,959 897,190 946,954 2649,725 Member tgnk reserves U.S.TreaSi-gen.acct. 339,713 15,064 28,552 22,090 31,531 11,795 21,038 47,616 26,745 18,859 35,558 31,343 49,522 323,641 17,556 1/102,497 21,252 27,412 15,708 13,860 44,044 11,396 7,392 12,012 l6,Ol6 34,496 Foreign 338,730 703 278,329 2,522 658 3,298 1,601 958 1,355 376 1,134 1,571 46,225 Other Total deposits 19,552,485 791,585 5,383,465 936,548 1601,999 851,937 1004,378 3073,943 732,290 454,586 945,094 995,884 2779,968 Deferred availability cash items 5,300,312 408,965 981,953 385,036 472,614 423,951 384,615 890,943 207,247 152,952 242,018 226,666 523,352 Other liabilities and accrued dividends 21,969 1,467 6,293 1,007 2,167 997 1,171 3,163 726 934 832 927 2,285 TOTAL LIABILITIES 51,931,104 2786,345 12,696,&43 2988,335 4577,220 3384,124 2745,463 9181,154 2136,88 91177,929 2266,002 1981,059 6000,041 CAPITAL ACCOUNTS CCaappiittaall ppaaiidd iinn 357,172 17,942 103,591 21,791 33,532 16,170 18,046 49,047 12,093 8,236 14,645 20,134 41,945 SSuurrpplluuss 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 OOtthheerr ccaappiittaall aaccccoouunnttss 210,922 13,069 49,816 13,982 18,977 l4,142 11,240 33,168 9,921 5,949 9,822 9,161 21,675 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 53,308,393 2864,504 13,073,880 3080,322 4701,270 3455,601 2810,947 9384,884 2190,463 1211,875 2320,993 2052,080 6161,574 Conting. liab. on acceptances purchased for foreign correspondents 67,659 3,842 2/19,266 4,650 5,998 3,437 3,033 9,638 2,494 1,618 2,629 3,505 7,549 Industrial loan commit. 1,019 79 940 FEDERAL RESERVE AGENTS' ACCOUNTS 800,454 2841,106 F, R, notes outstanding 27,957,209 1638,702 6,548,319 1722,733 2563,262 2167,789 1408,595 5332,294 1246,419 583,505 1104,031 Collat. for F. R. notes: Gold certificate acct. 11,518,000 600,000 3,270,000 640,000 1000,000 775,000 425,000 22330000,,000000 4 30,000 185,000 300,000 293,000 1300,000 Eligible paper 25,600 4,175 — — -- — 3,595 ~~ 17,830 U. S. Govt, securities 17,570,000 1150,000 3.600.000 1200,000 1600.000 1450.000 1000.000 33220000,0,00000 900,000 425,000 820.000 525.000 1700.000 29,113,600 1750',000 6,870,000 1844,175 2600,000 2225,000 1425,000 5500,000 1333,595 610,000 1137,830 818,000 3000,000 Tota.1 collateral 1/ After deducting $221,144,000 participations of other Federal Reserve Banks, 2/ After deducting $48,393,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis