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 28, 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 26 increased $291 million to $18,631 million. Estimated required reserves increased $293 million; and estimated excess reserves decreased $2 million to $465 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $37 million, compared with $16 million the week before• The principal changes supplying average reserves were increases of $186 million in U. S. Government securities bought outright and $137 million held under repurchase agreement, and a decrease of $73 million in foreign deposits with Federal Reserve Banks, The principal offsetting changes were a decrease of $6^ million in gold stock and an increase of $71 million in money in circulation. Total Reserve Bank credit increased $312 million. As of Wednesday, November 26, holdings of U. S. Government securities bought outright were $262 million higher than a week earlier, U. S, Government securities held under repurchase agreement were $86 million higher, and member bank borrowings were $489 million higher. Holdings of U. S. Government securities included $7,858 million of certificates maturing December 1 which have been tendered for exchange on that date for $2,858 million of the new issue of notes maturing May 15, 1961, and for $5,000 million of the new issue of certificates maturing November 15, 1959. Averages of daily figures Member tank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, Nov. 26, Nov. 19, Nov. 27, Nov. 26, and related items 1958 1958 1957 1958 (1C n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,578 +186 +2 ,411 25,662 Held under repurchase agreement 156 +137 + 5 133 Acceptancea-- Bought outright 36 + 2 + 17 34 Held under repurchase agreement 1 - - - -- Loans, discounts, and advances— Member bank borrowings 428 - 23 — 344 1,047 Other 2 -» — - 4 2 Float 1,199 + 11 10 980 - Total Reserve Bank credit 27,399 +312 +2,074 27,858 Gold stock 20,616 - 64 -2,146 20,609 Treasury currency outstanding 5,225 — "• + 86 5,225 53,240 +248 + 14 53,692 Money in circulation 31,825 + 71 + 394 32,015 Treasury cash holdings 686 - 6 108 684 - Treasury deposits with F. R. Banks 455 - 20 14 476 - Foreign deposits with F. R. Banks 243 - 73 • 58 215 Other deposits with P. R. Banks 337 - 4 + 43 336 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,063 - 11 4- 33 1,035 34,609 - 43 + 291 3^63 Member bank reserves-- 18,631 +291 - 276 18,929 Required reserves (estimated) 18,166 +293 - 295 18,219 Excess reserves (estimated) 465 - 2 4- 19 710 On November 26, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,829 million, an increase of $8 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

H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 26, Nov. 19, Nov. 27, 1958 1957 A S S E TS Gold certificate account 19,108,894 67,000 -2,100,497 Redemption fund for F. R. notes 910,479 + 16,896 + 47,330 Total gold certificate reserves 20,019,373 - 50,104 -2,053,167 F. R. notes of other Banks 288,079 - 37,262 - 23,393 Other cash 330,973 • 23,021 - 16,835 Discounts and advances 1,048,534 + 488,951 + 441,323 Industrial loans 337 — — 212 Acceptances—"bought outright 34,329 + 1,000 + 14,259 U. S. Government securities: Bought outright-- Bills 1,661,150 + 261,500 +1, 044,477 +1,573,679 Certificates 21,507,291 —— Notes 10,000 —— + 10,000 Bonds 2,483,771 — — - 317,979 Total bought outright 25,662,212 + 261,500 +2,310,177 Held under repurchase agreement 132,800 + 85,800 • 91,400 +2,218,777: Total U. S. Government securities 25,795,012 + 347,300 Total loans and securities 26,878,212 + 837,251 +2,674,147 Due from foreign banks 15 —•» + 3 Uncollected cash items 5,283,939 • 913,263 + 369,043 Bank premises 93,345 + 7 + 9,937 Other assets 258,334 + 11,570 ~ 7,235 TOTAL ASSETS 53,152,270 - 174,822 + 952,500 L I A B I L I T I ES Federal Reserve notes 27,504,168 + 235,366 + 263,141 Deposits: Member bank reserves 18,929,311 + 270,395 + 189,886 U. S. Treasurer--general account 476,062 + 85,514 + 46,489 Foreign 215,216 - 101,978 - 68,240 Other 336,256 - 15,116 + 158,374 Total deposits 19,956,845 + 238,815 + 326,509 Deferred availability cash items 4,304,092 - 621,828 + 324,409 Other liabilities and accrued dividends 25,078 + 736 + 2,180 TOTAL LIABILITIES 51,790,183 - 146,911 + 916,239 C A P I T AL A C C O U N TS Capital paid in 358,123 + 343 + 16,463 Surplus 809,195 —«•> 1/+ 34,059 Other capital accounts 194,769 - 28,254 14,261 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,152,270 - 174,822 + 952,500 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.2% - .51o - 4.9$ Contingent liability on acceptances purchased for foreign correspondents 75,171 + 548 + 8,552 Industrial loan commitments 1,015 ~ 147 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 011 Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 26, 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. 8. Government advances loans Acceptances securities Within 15 days 1,040,524 195 5,050 8,293,725 16 days to 90 days 8,010 29 29,279 6,864,783 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 1,366,247 Total 1,048,534 337 34,329 25,795,012 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH NOVEMBER 26, 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 19,108,894 937,292 4,921,680 1021,772 1496,876 1113,160 865,353 3480,860 764,682 460,223 761,013 794,819 2491,164 Redemption fund for F. R. notes 910,479 56,143 190,495 58,924 84,492 77,994 57,440 163,427 43,896 21,668 41,696 28,980 85,324 Total gold certificate reserves 20,019,373 993,435 5,112,175 1080,696 1581,368 1191,154 922,793 3644,287 808,578 481,891 802,709 823,799 2576,488 F.R. notes of other Banks 288,079 15,070 67,169 19,310 9,576 28,717 45,088 26,101 9,220 10,068 8,708 19,905 29,147 Other cash 330,973 22,258 62,207 19,608 29,429 19,626 24,564 58,572 21,473 7,527 12,569 14,933 38,207 Discounts and advances 1,048,534 21,474 250,566 62,235 168,320 66,066 82,093 190,986 20,398 10,976 96,756 10,218 68,446 Industrial loans 337 327 -- - - - — - - " 10 -• - - Acceptances— Bought outright 34,329 34,329 U. S. Govt, securities: Bought outright-- Bills 1,661,150 90,446 418,889 95,^91 147,053 108,127 84,525 290,169 67,764 34,946 70,902 65,070 187,768 Certificates 21,507,291 1171,029 5,423,450 1236,325 1903,933 1399,953 1094,355 3756,894 677,368 452,449 917,996 842,462 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 25,662,212 1397,256 6,471,189 1475,167 2271,747 l670,"405 1305,770 4482,675 1046,864 539,856 1095,340 1005,215 2900,728 Held under repurchase agreement 132,800 -— 132 pSCO ~- -- Total U. S. Govt, sees. 25,795,012 1397,256 6,603,989 1475,167 2271,747 1670,405 1305,770 4482,675 1046,864 539,856 1095,340 1005,215 2900,728 Total loans & securities 26,878,212 1419,057 6,888,884 1537,402 2440,067 1736,471 1387,863 4673,661 1067,262 550,842 1192,096 1015,433 2969,174 Due from foreign banks 15 1 1 /4 l 1 1 12 1 2/ 1 11 Uncollected cash items 5,283,939 374,856 1,021,100 350,573 499,629 409,936 398,395 811,764 238,872 149,217 277,261 253,645 498,691 Bank premises 93,345 4,630 10,551 4,268 9,955 6,642 9,144 11,349 6,856 5,211 4,871 7,766 12,102 Other assets 258,334 14,162 64,617 14,524 23,178 16,887 13,404 44,064 10,376 5,392 11,667 10.402 29,461 TOTAL ASSETS 53,152,270 2843,469 13,226,707 3026,382 4593,203 3409,434 2801,252 9269,800 2162,638 1210,148 2310,082 2145,884 6153,271 1/ After deducting $11,000 participations of other Federal Reserve Banks. Di2gi/tiz eLd efosr sFR AtShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 26, 1958 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisc< L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 27,504,168 1609,435 6,430,926 1717,790 2532,854 2128,225 1413,412 5265,965 1218,564 579,385 1086,972 778,402 2742,238 Deposits: Member bank reserves 18,929,311 764,826 5,301,083 872,241 1469,518 818,909 939,164 3020,871 677,303 445,899 892,474 1036,804 2690,219 U.S. Treas.-gen.acct. 476,062 30,252 60,952 33,410 42,068 35,421 31,229 54,636 25,059 24,167 49,350 32,562 56,956 Foreign 215,216 12,255 1/60,846 14,835 19,135 10,965 9,675 30,745 7,955 5,160 8,385 11,180 24,o8o Other 336,256 407 282,386 3,818 925 2,091 1.423 861 1.291 398 764 1,127 49x161 Total deposits 19,956,845 807,740 5,705,267 924,304 1531,646 867,386 981,491 3107,113 711,608 475,624 950,973 1081,673 2812,020 Deferred availability cash items 4,304,092 347,772 711,251 291,996 403,412 341,992 340,200 692,056 178,532 120,481 216,551 214,847 445,002 Other liabilities and accrued dividends 25,078 1,117 6,320 1,212 2,724 1,331 1,326 3,727 966 855 1,113 1,314 3,073 TOTAL LIABILITIES 51,790,183 2766,064 12,853,764 2935,302 4470,636 3338,934 2736,429 9068,861 2109,670 1176,345 2255,609 2076,236 6002,333 CAPITAL ACCOUNTS Capital paid in 358,123 18,029 103,845 21,817 33,556 16,200 18,138 49,283 12,121 8,295 14,692 20,164 41,983 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 194,769 12,228 45,568 13,049 17,470 13,135 10,487 30,141 9,287 5,747 9,257 8,558 19,842 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,152,270 2843,469 13,226,707 3026,382 4593,203 3409,434 2801,252 9269,800 2162,638 1210,148 2310,082 2145,884 6153,271 Conting. liab. on acceptances purchased for foreign correspondents 75,171 4,287 2/21,177 5,189 6,693 3,835 3,384 10,754 2,782 1,805 2,933 3,910 8,422 Industrial loan commit. 1,015 75 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,473,795 1660,219 6,675,628 1780,715 2589,260 2196,565 1474,261 5400,467 1272,773 594,298 1120,333 835,405 2873,871 Collat. for F. R. notes: Gold certificate acct. 11,233,000 600,000 3,120,000 640,000 920,000 775,000 425,000 2200,000 430,000 200,000 300,000 323,000 1300,000 Eligible paper 178,830 —— 62,145 —— —— —— —— 20,350 96,335 U. S. Govt, securities 18,070,000 1150,000 3,800,000 1200,000 1700,000 1450,000 1100,000 3300,000 900,000 425,000 820,000 525,000 1700,000 Total collateral 29,481,830 1750,000 6,920,000 1902,145 2620,000 2225,000 1525,000 5500,000 1350,350 625,000 1216,335 848,000 3000,000 l/ After deducting $154,370,000 participations of other Federal Reserve Banks, 2/ After deducting $53,994,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis