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 13, 1958 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending November 12 increased $94 million to $18,510 million. Estimated required reserves decreased $119 million; and estimated excess reserves increased $213 million to $662 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $193 million, compared with $47 million the week before. The principal changes supplying average reserves were increases of $201 million in Federal Reserve holdings of U. S. Government securities, $138 million in Federal Reserve float, and $67 million in member bank borrowings. The principal offsetting changes were increases of $241 million in money in circulation and $46 million in Treasury deposits with Federal Reserve Banks, and a decrease of $27 million in gold stock. Total Reserve Bank credit increased $4c6 million. As of Wednesday, November 12, holdings of U. S. Government securities bought outright were $20 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $94 million lower, and member bank borrowings were $127 million lower. Averages of daily figures Member bank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, Nov. 12, Nov. 5, Nov. 13, Nov. 12, and related items 1958 1958 1957 1958 (]in millions of dollars) Reserve Bank credit; U. S. Government securities-- Bought outright--System account 25,614 +234 +2 ,282 25,443 Held under repurchase agreement 46 - 33 - 120 2 Acceptances--bought outright 35 - 1 + 17 33 Loans, discounts, and advances-- Member bank borrowings 469 + 67 - 434 374 Other 2 — — - 6 2 Float 934 +138 - 63 Total Reserve Bank credit 27,100 +406 +1,676 26> , 6 5 57 1 2 Gold stock 20,652 - 27 -2 ,079 20,676 Treasury currency outstanding 5,225 + 3 + 89 5,224 52,977 +382 - 314 52,412 Money in circulation 31,660 +241 373 31,751 Treasury cash holdings 687 + 3 - 108 688 Treasury deposits with F. R. Banks 371 + 46 - 134 496 Foreign deposits with F. R. Banks 297 + 14 32 288 Other deposits with F. R. Banks 375 - 16 - 32 320 Other F, R. accounts (net) 1,078 — «•» + 21 1,076 34,467 +288 + 87 34,620 Member bank reserves-- 18,510 + 94 401 17,792 Required reserves (estimated) 17,848 -119 - 506 17,830 Excess reserves (estimated) 662 +213 + 105 - 38 On November 12, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,852 million, an increase of $60 million for the week and an increase of $29 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

5.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 12, Nov. 5, Nov. 13# 1958 1958 1957 A S S E TS Gold certificate account 19,197,892 + 5,000 -2,003,499 Redemption fund for F. R. notes 889,948 +_ 2,651 + 44,740 Total gold certificate reserves 20,087,840 + 7,651 -1,958,759 F. R. notes of other Banks 292,161 29,020 - 67,916 Other cash 347,372 20,570 + 2,477 Discounts and advances 375,418 127,051 - 74,727 Industrial loans 338 262 Acceptances—"bought outright 33,323 1,839 + 15,747 U. S. Government securities: Bought outright— Bills 1,442,150 20,040 + 845,177 Certificates 21,507,291 +1,573,679 Notes 10,000 + 10,000 Bonds 2,483,771 - 317,979 Total bought outright 25,443,212 + 20,040 +2,110,877 Held under repurchase agreement 2,000 - 93,800 - 70,900 Total U. S. Government securities 25,445,212 - 73,760 +2,039,977 Total loans and securities 25,854,291 - 202,650 +1,980,735 Due from foreign tanks 15 + 3 Uncollected cash items 5,094,655 + 272,344 - 88,215 Bank premises 93,286 + 99 + 10,345 Other assets 234,273 + 11,811 1,061 TOTAL ASSETS 52,003,893 + 39,665 - 122,391 L I A B I L I T I ES Federal Reserve notes 27,265,888 + 182,189 + 251,667 Deposits: Member hank reserves 17,792,321 - 489,063 - 571,230 U. S. Treasurer—general account 496,480 + 302,930 + 14,241 Foreign 287,511 - 11,866 - 35,937 Other 320,349 - 11,536 - 16,270 Total deposits 18,896,661 - 209,535 - 609,196 Deferred availability cash items 4,437,414 + 55,882 + 204,869 Other liabilities and accrued dividends 23,711 + 1,110 + 2,209 TOTAL LIABILITIES 50,623,674 + 29,646 - 150,451 C A P I T AL A C C O U N TS Capital paid in 357,696 + 194 + 16,249 Surplus 809,195 1/+ 34,059 Other capital accounts 213,328 + 9,825 - 22,248 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,003,893 + 39,665 - 122,391 Ratio of gold certificate reserves to deposit and F. R. cote liabilities combined 43.5% 3.9# Contingent liability on acceptances purchased for foreign correspondents 77,705 4,215 + 15,100 Industrial loan commitments 1,015 4 106 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 0D Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 12, 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 362,336 195 9,412 112,850 16 days to 90 days 13,082 19 23,911 9,188,865 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 375,418 33,323 25,445,212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT 5 8 | CON OF EACH FEDERA] RESERVE BANK ON NOVEMBER 1]2 , 1958 Phila- Cleve- St, Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco thousands A S S E TS Gold certificate account 19,197,892 971,932 4,820,276 1103,636 1683,509 1182,322 857,978 3385,470 807,703 439,714 772,806 700,872 2471,674 Redemption fund for F. R. notes 889.948 56,360 181.239 57,262 83,835 78,743 52,617 158,785 44,007 20,763 41,782 29,042 85,513 Total gold certificate reserves 20,087,840 1028,292 5,001,515 1160,898 1767,344 1261,065 910,595 3544,255 851,710 460,477 814,588 729,914 2557,187 F.R. notes of other Banks 292,161 18,708 77,518 21,551 11,794 28,396 40,444 22,997 7,815 11,131 6,539 15,671 29,597 Other cash 347,372 23,928 69,553 18,048 32,173 19,643 23,614 62,797 19,242 8,340 11,455 15,276 43,303 Discounts and advances 375,418 38,424 63,896 14,465 17,341 9,516 28,988 116,786 10,323 6,504 53,611 4,668 10,896 Industrial loans 338 327 11 Acceptances- Bought outright 33,323 33,323 U. S. Govt, securities: Bought outright- Bills 1,442,150 78,522 363,664 82,902 127,666 93,872 73,382 251,914 58,830 30,339 61,555 56,491 163,013 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 2.483.771 135,236 626.327 142.777 219.876 161.674 126.382 433.865 101,323 52.251 106.015 97.292 280.753 Total 25,443,212 1385,332 6,415,964 14^2,578 2252,360 1656,150 1294,627 4444,420 1037,930 535,249 1085,993 996,636 2875,973 Held under repurchase agreement 2.000 2,000 Total U. S. Govt, sees. 25,445,212 1385,332 6.417,964 1462,578 2252.360 1656,150 1294,627 4444,420 1037,930 535,249 1085,993 996,636 2875,973 Total loans & securities 25,854,291 1424,083 6,515,183 1477,043 2269,701 1665,666 1323,615 4561,206 1048,253 541,764 1139,604 1001,304 2886,869 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 ,1 Uncollected cash items 5,094,655 386,436 8717346 342,376 446,818 426,113 411,010 840,881 243,648 165,530 242,704 252,916 464,877 Bank premises 93,286 4,664 10,550 4,290 9,917 6,659 9,049 11,386 6,863 5,237 4,871 7,762 12,038 Other assets 234.273 12.754 58,629 13.180 20,946 15.232 12,188 40,132 9,430 4,909 10,819 9,328 26,726 TOTAL ASSETS 52,003,893 2898,866 12,604,298 3037,387 4558,694 3422,775 2730,516 9083,656 2186,962 1197,388 2230,581 2032,172 6020,598 1/ After deducting $11,000 participations of other Federal Reserve Banks 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

a.4.1(c) STATEMENT 0"' CONDITION OF EACH FEDERAL RESERVE BANK ON fOVEMBER 1958 laila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delplala land Louis apolis City Francisco L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 27,265,888 1595,360 6,363,659 1685,633 2511,118 2118,351 1388,354 5230,481 1212,210 575,504 1085,615 770,805 2728,798 Deposits: Member bank reserves 17,792,321 798,483 4,717,487 874,241 1416,430 850,395 892,071 2741,192 670,885 438,843 868,096 940,341 2583,857 U.S.Tress.-gen.acct. 496,480 37,230 66,704 17,679 26,052 29,988 52,509 40,981 33,758 25,915 46,207 44,204 75,173 Foreign 287,511 16,530 1/79,291 20,010 25,810 14,790 13,050 41,470 10,730 6,960 11,310 15,080 32,480 Other 320,349 w62C1I 2C66,W8p213| 1 ,f7v0C2 A1j,J1lU0H4 C|UW 2,866 1,1 621 )3 7JL7U 6C88 j21i5 I Ww <ZJUy 1 ,2 Lf 6 C 9 Xjy 1,11;4 6l*#v 42,376 Total deposits 18,896,661 852,864 5,130,305 913,632 1469,396 898,039 958,792 2824,020 716,061 471,933 926,962 1000,771 2733,886 Deferred availability cash items 4,437,414 371,265 726,715 344,756 451,364 333,408 316,482 821,176 204,094 115,022 l6l,?4l 189,215 402,176 Other liabilities and accrued dividends 23,711 1,098 5,849 1,222 2,620 1,298 1,274 3,609 950 835 1,062 1,088 2,806 TOTAL LIABILITIES 50,623,674 2820,587 12,226,528 2945,243 4434,498 3351,096 2664,902 8879,286 2133,315 1163,294 2175,380 1961,879 5867,666 CAPITAL ACCOUNTS Capital paid is 357,696 18,028 103,618 21,803 33,544 16,181 18,114 49,261 12,116 8,256 14,677 20,142 41,956 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 213,328 13,103 50,622 14,127 19,111 14,333 11,302 33,594 9,971 6,077 10,000 9,225 21,863 TOTAL LIABILITIES ADD CAPITAL ACCOUNTS 52,003,893 2898,866 12,604,298 3037,387 4558,694 3422,775 2730,516 9083,656 2186,962 1197,388 2230.581 2032,172 6020,598 Coating, llab. on acceptances purchased for \°£ foreign correspondents 77,705 4,429 2/21,916 5,361 6,915 3,963 3,497 11,U1 2,875 1,865 4,041 8,702 Industrial loan commit. 1,015 mm — 75 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,152,238 1650,520 6,568,424 1760,590 2571,851 2182,700 1443,970 5345,059 1259,750 588,001 1111,041 816,148 2854,184 Collat. for F. R. notes: 600,000 3,120,000 640,000 920,000 775,000 425,000 2200,000 430,000 200,000 300,000 303,0001300,000 Gold certificate acct. 11,213,000 78,210 14,375 — — — — 10,275 — 53,560 Eligible paper 1150.000 3,600,000 1200.000 1700.000 1450.000 1100.000 3300.000 900.000 425.000 820.000 525.000 1700.000 U. S. Govt, securities 17.870^000 1750!000 6,720.000 1854.375 2620.000 2225.000 1525.000 5500.000 1340.275 625.000 1173.560 826.000 3000.000 Total collateral 29,161,210 l/ After deducting $208,220,000 participations of other Federal Reserve Banks 1/ After deducting 455,789,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis