H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM November 6, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending November 5 decreased -$99 millio nto $18,416 million. Estimated required reserves increased $6 million; and estimated excess reserves decreased $105 million to $449 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $47 million, compared with $99 millio nthe week before. The principal changes reducing average reserves were decreases of $l8l million in Federal Reserve float and $53 million in member bank borrowings, and increases of $120 million in money in circulation and $70 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $80 million in U. S. Government securities bought outright and $79 million held under repurchase agreement, and a decrease of $187 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $73 million. As of Wednesday, November 5, holdings of U. S. Government securities bought outright were $51 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $96 million higher, and member bank borrowings were $124 million higher. Averages of daily figures Member bank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, November 5, October 29, November 6, Nov. 5, and related items 1958 1958 1957 1958 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,380 + 80 +2 ,124 25,423 Held under repurchase agreement 79 + 79 - 106 96 Acceptances-- Bought outright 36 + 2 + 19 35 Held under repurchase agreement * - - Loans, discounts, and advances-- Member bank borrowings 402 - 53 - 415 501 Other 2 — mm - 5 2 Float 79 6 -l8l - 147 44l Total Reserve Bank credit 26,694 - 73 +1,469 26,498 Gold stock 20,679 - 11 -2.> 028 20,665 Treasury currency outstanding 5,222 + 1 + 87 5,222 52,595 - 83 - 472 52,385" Money in circulation 31,419 +120 + 304 31,514 Treasury cash holdings 684 + 3 - 108 687 Treasury deposits with F. R. Banks 325 -187 136 194 Foreign deposits with F. R. Banks 283 + 13 - 84 299 Other deposits with F, R, Banks 391 + 70 + 78 332 Other F. R. accounts (net) 1,078 - 2 4- 22 1,077 34,179 + 16 + 75 34,104 Member bank reserves-- 18,416 - 99 547 18,281 Required reserves (estimated) 17,967 - 542 17,959 Excess reserves (estimated) 449 -105 - 5 1 322 *Less than $500,000. On November 5; 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,792 million, an increase of $l6 million for the week and an increase of $12 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 Nov. 5, Oct. 29, Nov. 6, 1958 1958 1957 A S S E TS Gold certificate account 19,192,892 - 25,000 -1,984,500 Redemption fund for F. R. notes 887,297 + 42,867 Total gold certificate reserves 20,080,189 - 25,000 -1,941,633 - 65,263 F. R. notes of other Banks 321,181 - 53,436 Other cash 367,942 - 13,115 + 6,332 Discounts and advances 502,469 + 124,202 - 186,256 Industrial loans 338 249 Acceptances—bought outright 35,162 + 2,004 + 18,767 U. S. Government securities: Bought outright- Bills 1,422,110 50,500 + 825,137 Certificates 21,507,291 +1,573,679 Notes 10,000 + 10,000 Bonds 2,483,771 - 317,979 Total bought outright 25,423,172 50,500 +2,090,837 + Held under repurchase agreement 95,800 +_ 95,800 - l4l.600 Total U. S. Government securities 25,518,972 + 146,300 +1*949,237 Total loans and securities 26,056,941 + 272,506 +1,781,499 Due from foreign banks 15 + 3 Uncollected cash items 4,822,311 166,502 + 631,728 Bank premises 93,187 122 + 10,308 Other assets 222,462 +_ 12,182 + 958 TOTAL ASSETS 51,964,228 + 14^686 + 35,759 L I A B I L I T I ES Federal Reserve notes 27,083,699 + 144,796 + 189,681 Deposits: Member bank reserves 18,281,384 + 14,694 - 432,914 U. S, Treasurer—general account 193,550 - 348,683 - 224,203 Foreign 299,377 + 19,259 - 53,409 Other 331,885 + 5,702 + 81,611 Total deposits 19,106,196 - 309,028 - 628,915 Deferred availability cash items 4,381,532 + 169,065 + 442,243 Other liabilities and accrued dividends 22,601 + 146 + 371 TOTAL LIABILITIES 50,594,028 + 57979 + 3T3Bo C A P I T AL A C C O U N TS Capital paid in 357.502 + 160 + 16,266 Surplus 809,195 34,059 Other capital accounts 203.503 17,946 / TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,964,228 35,759 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.5$ .1$ 3.7# Contingent liability on acceptances purchased for foreign correspondents 73,490 3,079 7,867 Industrial loan commitments 1,019 115 1/ Net change after elimination of Sec. 13b surplus of $27,5 43,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 5, 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 495,777 195 11,314 485,650 16 days to 90 days 6,692 19 23,848 8,889,825 91 days to 1 year 53 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 502,469 335 357152 25,518,972 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 NOVEMBER 5. 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 19,192,892 948,973 5,140,443 1060,790 1597,273 1176,630 864,590 3489,733 780,617 404,031 728,222 712,531 2289,059 Redemption fund for F. R. notes 887,297 56,465 181,922 57,431 78,999 79,460 52,692 158,963 44,058 20,810 41,820 29,070 85,607 Total gold certificate reserves 20,080,189 1005,438 5,322,365 1118,221 1676,272 1256,090 917,282 3648,696 824,675 424,841 770,042 741,601 2374,666 F.R. notes of other Banks 321,181 23,183 81,245 28,068 15,640 29,631 42,180 24,147 7,731 13,184 7,177 17,748 31,247 Other cash 367,942 26,572 72,409 20,045 33,808 21,566 28,369 65,588 17,710 8,786 11,789 16,272 45,028 Discounts and advances 502,469 3,224 192,866 5,705 17,248 11,491 58,298 88,076 15,223 3,531 69,993 5,668 31,146 11 Industrial loans 338 327 Acceptances— Bought outright 35,162 35,162 U. S. Govt, securities: Bought outright— Bills 1,422,110 77,431 358,611 81,750 125,892 92,567 72,362 248,414 58,013 29,917 60,699 55,706 160,748 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 2,523 574 865 651 508 1,747 409 210 427 391 1,130 Bonds 2,483,771 135,236 626,327 142,777 219,876 161,674 126,382 433,865 101,323 52,251 106,015 97,292 280,753 Total 25,423,172 1384,241 6,410,911 1461,426 2250,586 1654,845 1293,607 4440,920 1037,113 534,827 1085,137 995,851 2873,708 Held under repurchase agreement 95.800 95.800 Total 0. S. Govt, sees. 25.518,972 1384.241 6.506.711 1461.426 2250.586 1654.845 1293.607 4440,920 1037.113 534.827 1085.137 995,851 2873.708 Total loans & securities 26,056,941 1387,792 6,734,739 1467,131 2267,834 1666,336 1351,905 4528,996 1052,336 538,369 1155,130 1001,519 2904,854 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2 / 1 11 Uncollected cash items 4,822,311 370,017 823,959 317,366 442,644 397,780 397,345 754,002 222,840 165,960 241,406 235,184 453,808 Bank premises 93,187 4,664 10,517 4,290 9,917 6,658 9,047 11,386 6,862 5,222 4,871 7,714 12,039 Other assets 222.462 12.070 55.761 12.495 20.076 14.354 11.576 38.117 8.944 4.621 10.289 8.839 25.320 TOTAL ASSETS 51,964,228 2829,737 13,100,999 2967,617 4466,192 3392,416 2757,705 9070,934 2141,099 1160,983 2200,705 2028,878 5846,963 1/ After deducting $11,000 participations of other Federal Reserve Banks. Di2gi/tiz edL feosr FsR AtShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK NOVEMBER 5, 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) L I A B I L I T I ES Federal Reserve notes 27,083,699 1573,131 6,337,117 1671,073 2493,156 2109,753 1371,491 5201,066 1204,294 570,455 1080,345 765,133 2706,685 Deposits: Member bank reserves 18,281,384 819,470 5,211,142 867,038 1453,852 784,620 943,662 2844,504 650,335 408,103 845,901 957,505 2495,252 U.S.Treas.-gen.acct. 193,550 22,819 20,194 473 19,101 16,891 22,349 13,327 10,337 16,791 14,067 23,032 14,169 Foreign 299,377 16,530 1/91,157 20,010 25,810 14,790 13,050 41,470 10,730 6,960 11,310 15,080 32,480 Other 331,885 4ll 277,675 l,6ll 1,274 3,307 1,626 1,073 909 486 1,428 1,318 40,767 Total deposits 19,106,196 859,230 5,600,168 889,132 1500,037 819,608 980,687 2900,374 672,311 432,340 872,706 996,935 2582,668 Deferred availability cash items 4,381,532 318,569 782,506 314,687 347,003 390,936 339,261 763,319 210,378 123,496 191,974 195,984 403,419 Other liabilities and accrued dividends 22,601 1,086 6,190 1,1662,662 1,085 1,088 3,641 824 759 890 893 2,317 TOTAL LIABILITIES 50,594,028 2752,016 12,725,981 2876,058 4342,858 3321,382 2692,527 8868,400 2087,807 1127,050 2145,915 1958,945 5695,089 CAPITAL ACCOUNTS Capital paid in 357.502 17,953 103,613 21,790 33,537 16,182 18,087 49,224 12,100 8,252 14,677 20,139 41,948 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 203.503 12,620 47,875 13,555 18,256 13,687 10,893 31,795 9,632 5,920 9,589 8,868 20,813 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,964,228 2829,737 13,100,999 2967,617 4466,192 3392,416 2757,705 9070,934 2141,099 1160,983 2200,705 2028,878 5846,963 €onting. liab, on acceptances purchased for foreign correspondents 73,490 4,189 2/20,717 5,071 6,541 3,748 3,308 10,511 2,720 1,764 2,867 3,822 8,232 Industrial loan commit. 1,019 79 940 FEDERAL RESERVE AGENTS' ACCOUNTS "F. R. notes outstanding 28,003,936 1634,363 6,569,164 1736,398 2547,064 2169,656 1424,753 5317,440 1250,966 583,864 1106,551 814,557 2849,160 ^Collat. for F. JR. notes: Gold certificate acct. 11,393,000 600,000 3,120,000 64o,ooo 1000,000 77l,ooo 425,000 2300,000 430,000 200,000 300,000 303,000 1300,000 Eligible paper 90,732 •" 5,615 — *~ "• — 15,175 *• 69,942 —— —— 17,670,000 1150,000 3,600,000 1200,000 1600,000 1450,000 1100,000 3200,000 900,000 425,000 820,000 525,000 1700,000 U. S. Govt, securities Total collateral 29,153,732 1750,000 6,720,000 1845,615 2600,000 2225,000 1525,000 5500,000 1345,175 625,000 1189,942 828,000 3000,000 1/ After deducting $208,220,000 participations of other Federal Reserve Banks, D2ig/it izAedf ftoer FrR AdSeEdRu cting $52,773,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis