H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM December 4, 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 December 3 increased $109 million to $18,740 million. Estimated required reserves increased $44 million; and estimated excess reserves increased $65 million to $530 million. Member bank 'borrowings at the Federal Reserve Banks exceeded excess reserves by $49 million; the week "before the ywere $37 million less than excess reserves. The principal changes supplying average reserves were increases of $455 million in U. S. Government securities bought outright and $151 million in member bank borrowings. The principal offsetting changes were increases of $232 million in money in circulation, $64 million in "other" deposit swith Federal Reserve Banks, and $40 million in "other" F. R. account s(net), and decreases of $112 million in Federal Reserve float and $46 million in U. S. Government securities held under repurchase agreement. Total Reserve Bank credit increased $445 million.• As of Wednesday, December 3, holdings of U, S. Government securities bought outright were $458 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $120 million lower, and member bank borrowings were $720 million lower. Holdings of certificates decreased $2,858 million and notes increased a like amount, reflecting the exchange of certificate smaturing December 1 for the new issue of notes maturing May 15, 1961; $5,000 million of the certificates maturing December 1, 1958, were exchanged for the new issue of certificates maturing November 15, 1959* Averages of daily figures Member bank reserves, Week ending Change from week endingW ednesday, Reserve Bank credit, December 3, November 26,D ecember 4, Dec. 3, and related items 1958 1958 1957 1958 (]C n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 26,033 +455 +2, 553 26,120 Held under repurchase agreement 110 - 46 - 142 12 Acceptances— Bought outright 34 - 2 + 13 35 Held under repurchase agreement 1 Loans, discounts, and advances-- Member bank borrowings 579 +151 39 328 Other 2 «•••* - 7 2 Float 1,087 -112 + 82 1,03^ Total Reserve Bank credit 27,844 +®5 +2 ,457 27,532 Gold stock 20,609 - 7 -2,154 20,609 Treasury currency outstanding 5,228 + 3 + 87 5,229 53/681 +441 + 391 53,369 Money in circulation 32,057 +232 + 389 32,112 Treasury cash holdings 693 + 7 - 77 698 Treasury deposits with F. R. Banks 465 + 10 + 160 469 Foreign deposits with F. R. Banks 222 - 21 - 69 233 Other deposits with F. R. Banks 401 + 64 210 344 Other F, R. account s(net) 1,103 + 40 + 62 1,191 34,941 +332 + 674 35,047 , Member bank reserves— 18,740 +109 283 18,323 Required reserves (estimated) 18,210 rw - 370 18,239 Excess reserves (estimated) 530 + 65 + 87 84 On December 3, 1958, U. S, Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,822 million, a decrease of $7 million for the week and an increase of $17 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 3, Nov 25 Dec, 4, 1958 1958 1957 A S S E TS Gold certificate account 19,098,8.94 10,000 -2,119,498 Redemption fund for F. R. notes 918,549 8,070 + 58,309 Total gold certificate reserves 20,017,443 1,930 -2,061,189 F. R. notes of other Banks 296,963 8,884 - 37,106 Other cash 323,598 7,375 5,202 Discounts and advances 329,003 719,531 - 168,652 Industrial loans 337 185 Acceptances: Bought outright 35,199 + 870 + 12,143 Held under repurchase agreement 2,616 V« S. Government securities: Bought outright— Bills 2,119,350 + 458,200 +1,300,077 Certificates 18,649,726 -2,857,565 -1,283,886 Notes 2,867,565 +2,857,565 +2,867,565 Bonds 2,483,771 - 317,979 Total bought outright 26,120,412 458,200 +2,565,777 Held under repurchase agreement 12,400 120,400 - 211,200 Total U, S. Government securities 26,132,^12 337,800 +2,3557577 Total loans and securities 26,497,351 - 380,861 +2,195,267 Due from foreign banks 15 + 3 Uncollected cash items 5,248,444 - 35,495 + 392,191 Bank premises 93,471 + 126 + 10,113 Other assets 122,613 - 135,721 * ,63,°51 TOTAL ASSETS 52,599,-B98 - 552,372 + 431,026 L I A B I L I T I ES Federal Reserve notes 27,610,322 + 106,154 + 284,556 Deposits: Member bank reserves 18,322,932 606,379 584,461 U, S. Treasurer—general account 469,438 6,624 225,077 Foreign 233,218 + 18,002 74,351 Other 343,698 + 7,442 161,305 Total deposits 19,369,286 - 5877559 272,430 Deferred availability cash items 4,213,520 - 90,572 + 376,197 Other liabilities and accrued dividends 33*614 + 8,536 +_ 9,384 TOTAL LIABILITIES 51,226,7^2 - 563^441 + 397,707 C A P I T AL A C C O U N TS Capital paid in 358,713 + 590 + 16,853 Surplus 809,195 l/+ 34,059 Other capital accounts 205,248 + 10,479 "" ,17,593 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,599,898 - 552,372 +_ 431,026 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 42,6# 4.4# Contingent liability on acceptances purchased for foreign correspondents 73,842 - 1,329 + 6,230 Industrial loan com.mi t9m9e5n t"s" 20 150 l/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 3, 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 •322,054 204 3 7# 120,060 16 days to 90 days 6,949 20 31,361 7,518,683 91 days to 1 year 6 46 7 13,142,733 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Total 329,003 337 35,199 26,132,812 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(b) STATEMENT OF CONDIT] S I RESERVE BANK M DECEMBER 3, 1958 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 19,098,894 934,910 4,924,898 1070,144 1597,424 1139,282 854,997 3402,810 769,767 452,253 718,817 713,643 2519,949 Redemption fund for F, R. notes 918,549 56,050 189,976 60,789 85,344 77,425 57,369 168,259 43,848 21,632 43,661 28,952 85,244 Total gold certificate 1682,768 3571,069 813,615 reserves 20,017,443 990,960 5,U4>874 1130,933 1216,707 912,366 473,885 762,478 742,595 2605,193 F.R. notes of other Banks 296,963 16,857 72,537 23,320 8,136 29,698 42,759 23,907 8,922 10,194 5,602 18,201 36,830 Other cash 323,598 20,741 60,193 18,661 28,389 18,921 24,467 56,815 21,690 7,677 12,380 14,078 39,586 Discounts and advances 329,003 6,974 16,541 7,350 19,120 24,001 76,768 91,161 23,648 3,206 43,270 14,218 2,746 Industrial loans 337 327 10 Acceptances- Bought outright 35,199 35,199 6* S. Govt, securities: Bought outright- 90>460 83,017 Bills 2,119,350 115,394 534,432 121,829 187,615 137,953 107,839 370,208 86,457 44,585 239,561 Certificates 18,649,726 1015,440 4,702,864 1072,061 1650,967 1213,948 948,954 3257,734 760,797 392,334 796,026 730,529 2108,072 Notes 2,867,565 156,134 723,109 164,839 253,851 186,655 145,910 500,907 116,979 60,325 122,396 112,325 324,135 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 26,120,412 1422,204 6,506,732 1501,506 2312,309 1700,230 1329,085 4562,714 1065,556 5*9,495 1114,097 1023,163 2952,521 Held under repurchase agreement 12,400 12,400 Total U. S. Govt, sees. 26,132,812 1422,204 6,599,132 1501,506 2312,309 1700,230 1329,085 4562,714 1065,556 549,495 1114,897 1023,163 2952,521 Total loans & securities 26,497,351 1429,505 6,650,872 1508,856 2331,429 1724,231 1405,853 4653,875 1089,204 552,711 1158,167 1037,381 2955,267 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 386,820 997,304 333,317 826,511 233,328 249,589 502,785 Uncollected cash items 5,248,444 462,516 419,794 418,652 143,546 274,182 Bank premises 93,471 4,630 10,531 4,268 9,920 6,642 9,261 11,452 6,844 5,211 4,865 7,745 12,102 Other assets 122,613 6,743 30,438 6,789 11,174 7,848 6,534 20,564 4,895 2,546 6,021 4,914 14,147 TOTAL ASSETS 52,599,898 2856,257 12,936,753 3026,145 4534,333 3423,842 2819,893 9164,195 2178,499 1195,870 2223,696 2074,504 6165,911 1/ After deducting $11,000 participation sof other Federa lReserve Banks 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Total Boston | New York °Sa" Bicfcmond|Atlanta Chicago J uL "city" Dallas FraSiscc LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,610,322 1616,690 6,426,861 1728,039 2551,505 2140,446 1434,420 5276,076 1226,459 583,229 1095,319 784,357 2746,921 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,322,932 761,564 5,002,714 881,173 1427,197 830,065 948,081 2901,725 675,915 427,479 800,351 972,845 2693,823 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 469,438 40,042 64,373 35,109 44,042 38,820 14,666 62,105 31,l4l 23,532 42,296 23,113 50,199 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 233,218 12,654 1/73,822 15,318 19,758 11,322 9,990 31,746 8,214 5,328 8,658 11,544 24(864 OOOOOttttthhhhheeeeerrrrr 343,698 339 286,254 1,776 969 3,082 1,826 575 1,701 367 1,249 1,549 44,011 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,369,286 814,599 5,427,163 933,376 1491,966 883,289 974,563 2996,151 716,971 ,456,706 852,554 1009,051 2812,897 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy ————— .....cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,213,520 345,413 698,102 271,234 363,732 327,114 343,856 683,505 180,554 120,919 219,508 209,329 450,254 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 33,614 1,627 8,916 1,829 3,636 1,787 1.662 5.651 1.149 997 1.374 1,353 3.6^ TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,226,742 2778,329 12,561,042 2934,478 4410,839 3352,636 2754,501 8961,383 2125,133 1161,851 2168,755 2004,090 6013,705 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS """""66666eeeee#####IIIIItttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 358,713 18,032 103,864 21,837 33,560 16,247 18,139 49,362 12,121 8,297 14,701 20,567 41,986 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 00000#####iiiiieeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 205,248 12,7t8 48,317 13,616 18,393 13,794 11,055 31,935 9,685 5,961 9,716 8,921 21,107 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,599,898 2856,257 12,936,753 3026,145 4534,333 3423,842 2819,893 9164,195 2178,499 1195,870 2223,696 2074,504 6165,911 CCCCCaaaaannnnntttttiiiiinnnnnggggg,,,,, llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 73,842 4,189 2/21,069 5,071 6,541 3,748 3,308 10,511 2,720 1,764 2,867 3,822 8,232 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 995 — -- -- 55 — -- -- -- 940 -- __ FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,610,868 1665,666 6,744,116 1794,302 2601,362 2198,718 1483,191 5417,611 1276,039 595,968 1117,429 837,390 2879,076 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 74,079 7,260 -- -- -- — 23,600 — 43,219 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,120,000 1150,000 3,800,000 1200,000 1750,000 1450,000 1100,000 3300,000 900,000 425,000 820,000 525,000 1700,000 TToottaall ccoollllaatteerraall 29,427,079 1750,000 6,920,000 1847,260 2670,000 2225,000 1525,000 5500,000 1353,600 625,000 1163,219 848,ooo 3000.000 1/ After deducting $159,396,000 participations of <b*her Federal Reserve Banks. 2/ After deducting $52,773,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis