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 20, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT# AND RELATED ITEMS and STATEMENT OF CONDITION OF THE 'FEDERAL RESERVE BANKS The average of daily figures of member ban kreserves for the week ending November 19 decreased $170 million to $18,340 million. Estimated required reserves decreased $15 million; and estimated excess reserves decreased $155 million to $467 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $16 million, compared with $153 million the week before. The principal changes reducing average reserves were a decrease of $249 million in Federa lReserve holdings of U. S. Government securities ,and increases of $104 million in Treasury deposits with Federal Reserve Banks and $94 million in money in circulation. The principal offsetting changes were increases of $254 million in Federa lReserve float and $28 million in gold stock, and a decrease of $34 million in "other" deposit swith Federal Reserve Banks. Total Reserve Bank credit decreased $13 million. As of Wednesday, November 19 ,holdings of U. S. Government securities bought outright were $43 million lower than a week earlier ,U. S, Government securities held under repurchase agreement were $45 million higher, and member bank borrowings were $184 million higher. Averages of daily figures Member bank reserves, Week ending Change from week endingW ednesday, Reserve Bank credit, Nov. 19, Nov. 12, Nov . 20, Nov. 19, and related items 1958 1958 1957 1958 (]Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,392 -222 +2 ,110 2255,,440011 Held under repurchase agreement 19 - 27 4- 13 47 Acceptances--bought outright 34 - 1 + 16 33 Loans, discounts, and advances-- Member bank borrowings 451 - 18 - 296 558 Other 2 4 2 - Float 1,188 +254 - 242 1,271 Total Reserve Bank credit 27,087 - 13 +1,598 27,312 Gold stock 20,680 + 28 -2,077 20,658 Treasury currency outstanding 5,225 + 88 5,225 52,992 + 15 - 391 53,195 Money in circulation 31,754 + 94 + 418 31,714 Treasury cash holdings 692 + 5 - 109 689 Treasury deposits with F. R. Banks 475 +104 - 28 391 Foreign deposits with F. R. Banks 316 + 19 + 1 317 Other deposits with F. R. Banks 341 - 34 - 45 351 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,074 - 4 + 20 1,074 34,652 +185 + 256 34,537 Member bank reserves-- 18,340 -170 - 647 18,659 Required reserves (estimated) 17,873 - 15 - 586 17,942 Excess reserves (estimated) 467 -155 - 61 717 On November 19, 1958, U. S. Government securitie sheld in custody by the Federal Reserve Banks for foreign account were $3,82 1million, a decrease of $31 million for the week an dan increase of $29 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 19, Nov. 12, Nov. 20, 1958 1958 1957 A S S E TS Gold certificate account 19,175,894 21,998 -2,053,499 Redemption fund for F. R. notes 893,583 3,635 + 50,254 Total gold certificate reserves 20,069,477 18,363 -2,003,245 F. R. notes of other Banks 325,341 + 33,180 - 41,068 Other cash 353,994 + 6,622 + 1,706 Discounts and advances 559,583 + 184,165 - 494,618 Industrial loans 337 1 203 Acceptances—bought outright 33,329 6 + 15,756 U. S. Government securities: Bought outright— Bills 1,399,650 42,500 + 900,177 Certificates 21,507,291 +1,573,679 10,000 + 10,000 Notes Bonds 2,483,771 - 317,979 Total bought outright 25,400,712 42,500 +2,165,877 Held under repurchase agreement 47,000 45,000 + 47,000 Total U, S. Government securities 25,447,712 2,500 +2 ? 212,877 Total loans and securities 26,040,961 + 186,670 +1,733,812 Due from foreign banks 15 + 3 Uncollected cash items 6,197,202 +1,102,547 + 325,558 Bank premises 93,338 + 52 + 10,187 Other assets 246 764 + 12j491 - 3,135 z TOTAL ASSETS 53,327,092 +1,323,199 + 23,818 L I A B I L I T I ES Federal Reserve notes 27,268,802 + 2,914 + 258,417 Deposits: Member bank reserves 18,658,916 + 866,595 - 474,324 U. S. Treasurer--general account 390,548 - 105,932 - 150,464 Foreign 317,194 + 29,683 + 13,016 Other 351,372 + 31,023 - 40,671 Total deposits 19,718,030 + 821,369 - -552^3 Deferred availability cash items 4,925,920 + 488,506 + 390,386 Other liabilities and accrued dividends 24,342 + 631 + -m TOTAL LIABILITIES 51,937,094 +1,313,420 - C A P I T AL A C C O U N TS Capital paid in 357,780 + 84 + 16,185 Surplus 809,195 -- 1/+ 34,059 Other capital accounts 223,023 + 9,695 •H TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,327,092 +1,323,199 + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.7# 3.9# Contingent liability on acceptances purchased for foreign correspondents 74,623 3,082 13,142 156 Industrial loan commitments 1,015 1/ Net change after elimination of Sec. 13 bsuiylus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 19. 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 551,916 195 7,721 8,292,275 16 days to 90 days 7,667 29 25,608 6,518,933 91 days to 1 year 46 8,142,733 Over 1 year to 5 years 67 1,023,614 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 559,583 337 337529 25,447,712 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAMK ON NOVEMBER 19. 1958 Total Boston I New York Phila- C*ev®" IRichmond Atlanta Chicago St. Minne- Kansas Dallas San delpbia land | Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 19,175,894 974,480 4,939,829 1039,883 1583,306 1103,780 867,117 3408,366 753,010 469,391 745,977 722,26? 2568,488 Redemption fund for F. R. notes 893,583 56,146 180,512 58,940 83,496 78,010 52,448 163,437 43,904 20,671 41,699 28,987 85,333 Total gold certificate reserves 20,069,477 1030,626 5,120,341 1098,823 1666,802 1181,790 919,565 3571,803 796,914 490,062 787,676 751,254 2653,821 F.R. notes of other Banks 325,341 18,965 82,566 24,655 11,413 32,903 45,018 26,553 11,312 10,267 9,853 19,223 32,613 Other cash 353,994 23,182 66,890 20,139 31,897 21,228 27,313 62,488 21,450 8,264 12,041 14,113 44,989 Discounts and advances 559,583 14,024 20,941 23,025 81,942 60,116 74,698 97,636 34,938 20,001 81,148 22,668 28,446 Industrial loans 337 327 10 Acceptances- Bought outright 33,329 33,329 II. S. Govt, securities: Bought outright-- Bills 1,399,650 76,208 352,947 80,459 123,904 91,105 71,219 244,490 57,097 29,445 59,741 54,826 158,209 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 25,400,712 1383,018 6,405,247 1460,135 2248,59# 1653,383 1292,464 #36,996 1036,197 534,355 1084,179 994,971 2871,169 Held under repurchase agreement 47,000 47,000 Total U. S. Govt, sees. 25,447,712 1383,018 6,452,247 1460,135 2248,598 1653,383 1292,464 4436,996 1036.197 534.355 1084,179 994,971 2871,169 Total loans & securities 26,040,961 1397,369 6,506,517 1483,160 2330,540 1713,499 1367,162 4534,632 1071,135 554,366 1165,327 1017,639 2899,615 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 6,197,202 475,085 1,1587225 408,692 560,445 488,672 485,738 963,273 267,925 171,320 314,214 288,161 615)152 Bank premises 93,338 4,664 10,550 4,290 9,917 6,677 9,049 11,386 6,862 5,238 4,871 7,763 12,071 Other assets 246.764 13.499 62,102 13.868 21.860 15.889 12.854 42.174 9.909 5,l6l 11,331 9.983 28,134 TOTAL ASSETS 53,327,092 2963,391 13,007,195 3053,628 4632,875 3460,659 2866,700 9212,311 2185,508 1244,978 2305,314 2108,137 6286,396 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

' „ , Phila- Cleve- _, ^ . St. Minne- Kansas San a AJ 1 Total Boston New York elphia land Richmond Atlanta Chicago polis City Dallas d Louis a Franciaco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,268,802 1595,849 6,370,705 1691,058 2518,007 2112,719 1393,925 5229,778 1212,759 578,043 1083,292 773,634 2709,033 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,658,916 823,409 5,064,980 891,510 1483,007 833,070 933,637 2916,295 674,655 455,963 868,281 973,471 2740,638 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 390,548 29,937 46,162 30,551 33,947 26,665 34,700 24,848 22,171 29,745 37,052 21,866 52,904 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 317,194 17,841 1/92,460 21,597 27,857 15,963 14,085 44,759 11,581 7,512 12,207 16,276 35,056 OOOOOttttthhhhheeeeerrrrr 351,372 546 285,698 1,465 1,076 2,840 1,432 1,184 1,177 405 1,413 1,202 52,934 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,718,030 871,733 5,489,300 945,123 1545,687 878,538 983,854 2987,086 709,584 493,625 918,953 1012,815 2881,532 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,925,920 415,662 760,109 323,541 441,472 395,922 421,672 785,547 208,418 138,245 246,458 249,835 539,039 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 24,342 1,370 6,828 1,184 2,434 1,162 1,193 3,763 799 800 1,000 1,202 2,607 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,937,094 2884,614 12,626,942 2960,906 4507,800 3388,341 2800,644 9006,174 2131,560 1210,713 2249,703 2037,486 6132,211 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 357,780 18,028 103,629 21,806 33,551 16,200 18,135 49,243 12,116 8,265 14,683 20,150 41,974 SSSSSuuuuurrrrrpppppllllluuuuusssss 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 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 223,023 13,601 53,094 14,702 19,983 14,953 11,723 35,379 10,272 6,239 10,404 9,575 23,098 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,327,092 2963,391 13,007,195 3053,628 4632,875 3460,659 2866,700 9212,311 2185,508 1244,978 2305,314 2108,137 6286,396 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 74,623 4,252 2/21,061 5,148 6,639 3,805 3,357 10,668 2,760 1,790 2,909 3,879 8,355 T5 ^^0 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,015 am w «« w w- »• ww ww ww ** ww FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,220,220 1645,930 6,596,223 1759,987 2581,032 2181,008 1451,161 5348,860 1268,141 592,356 1107,903 823,155 2864,464 CCoollllaatt.. ffoorr FF.. RR,, nnootteess:: 600,000 3,120,000 640,000 920,000 775,ooo 425,000 2200,000 430,000 200,000 300,000 313,000 1300,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,223,000 EElliiggiibbllee ppaappeerr 138,922 -- -- 22,935 -- — -- -- 34,890 — 81,097 -~ 17,870,000 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess TToottaall ccoollllaatteerraall 29,231,922 1750,000 6,720,000 1862,935 2620,000 2225,000 1525,000 5500,000 1364,890 625,000 1201,097 838,000 3000,000 if After deducting $224,734,000 partic ipations of other Federal Reserve Banks, D2ig/itiz eAdf fotr eFrR AdSEeRd ucting $53,562,000 partic ipations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis