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 11, 1953 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM 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 December 10 decreased $111 million to $18,629 million. Estimated required reserves decreased $80 million; and estimated excess reserves decreased $31 million to $499 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $85 million; the week before they were $49 million less than member bank borrowings* The principal changes reducing average reserves were decreases of $165 million in member bank borrowings and $78 million in U. S, Government securities held tinder repurchase agreement, and increases of $l6l million in money in circulation and $88 million in "other" F. R, accounts (net), The principal offsetting changes were an increase of $217 million in U, S. Government securities bought outright,and decreases of $89 million in Treasury deposits with Federal Reserve Banks and $73 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit Increased $3 million. As of Wednesday, December 10, holdings of U. S. Government securities bought outright were $126 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $4 million lower, and member bank borrowings were $126 million higher. Averages of daily figures Member bank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, Dec. 10, Dec. 3, Dec. 11, Dec. 10, and related items 1958 1958 1957 1958 <] Cn millions of dollars) Reserve Bank credit; U. S. Government securities- Bought outright—System account 26,250 +217 +2,676 26,247 280 8 Held under repurchase agreement 32 - 78 - Acceptances— 12 Bought outright 37 + 3 + 36 Held under repurchase agreement - 9 • Loans, discounts, and advances- Member bank borrowings 4l4 -165 255 454 Other 2 - 6 2 Float 1,112 ±21 + 92 ?%4 Total Reserve Bank credit 27,847 + 3 +2,230 27,740 Gold stock 20,593 - 16 -2,, 173 20,593 Treasury currency outstanding 5,229 + 1 + 87 5,229 53,670 - 11 + i4k 53,562 +161 Mdney in circulation 32,218 + 391 32,303 696 698 Treasury cash holdings + 3 - 73 Treasury deposits with F. R. Banks 376 - 89 + 58 437 + 10 86 Foreign deposits with F» R. Banks 232 - 230 Other deposits with F. R. Banks 328 - 73 + 142 327 Other F. R. accounts (net) 1,191 + 88 + 111 1,191 35,040 + 99 + 542 35,186 Member bank reserves- 18,629 -111 398 18,376 T-go Required reserves (estimated) 18,130 - 470 18,163 Excess reserves (estimated) 4 99 - 31 + 72 ' 213 On December 10, 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,848 million, an increase of $26 million for the week and an increase of $40 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) 3'JCATEMEm W CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 10, Dec* 3, Dec. 11, 1958 1958 1957 A S S E TS 18,001 Gold certificate account 19,080,893 -2,145,499 Redemption fund for F. R, notes 918,659 + 110 + 58,067 Total gold certificate reserves 19,999,552 - 17,891 -2,067,432 F. R. notes of other Banks 321,551 + 24,588 - 23,793 Other cash 302,402 - 21,196 - 22,667 Discounts and advances 454,870 + 125,867 - 516,673 Industrial loans 337 161 Acceptances: Bought outright 36,199 1,000 + 10,342 Held under repurchase agreement 4,710 U. S. Government securities: Bought outright-- Bills 2,245,550 + 126,200 +1,381,277 Certificates 18,649,726 -1,283,886 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 317,97? Total bought outright 26,246,612 + 126,200 +2,646,977 Held under repurchase agreement 8,000 4,400 - 264,800 Total U. S« Government securities 26,2541612 + 121,800' +2,382,177 Total loans and securities 26,746,018 + 248,667 +1,870,975 Due from foreign banks 15 + 3 Uncollected cash items 4,919,920 - 328,524 + 241,959 Bank premises 93,662 + 191 + 10,210 Other assets 133,860 + 11,247 - 67,198 TOTAL ASSETS 52,516,980 - 82,918 - 77,943 L I A B I L I T I ES Federal Reserve notes 27,802,134 + 191,812 + 308,771 Deposits: Member bank reserves 18,376,269 53,337 - 837,662 U. S. Treasurer—-general account 437,369 32,069 + 104,595 Foreign 230,328 2,890 - 99,819 Other 326,821 16,877 Total deposits 19,370,787 + 1,501 Deferred availability cash items 3,926,010 - 287,510 + 209,141 Other liabilities and accrued dividends 34.117 + 503 + 9,708 TOTAL LIABILITIES 51,133,048 «93,694 - 160,481 C A P I T AL A C C O U N TS Capital paid in 359,632 919 + 17,482 Surplus 809,195 1/+ 34,059 Other capital accounts 215,105 9,857 + 30,997 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,516,980 82,918 . 77,943 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.4# *2% 4,0# Contingent liability on acceptances purchased for foreign correspondents 74,001 159 5,331 Industrial loan commitments 995 129 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 10, 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 445,077 204 5,194 52,500 16 days to 90 days 9,793 20 31,005 7,708,043 91 days to 1 year 46 13,142,733 Over 1 year to 5 years 67 3,881,179 Over 5 years to 10 years 83,910 Over 10 years 1,386,247 Digitized for FTRAoStEaRl 454,870 337 36,199 26,254^612 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON DECEMBER 10. 1958 Total Boston New York P d h e i l l p a h - ia C l l a e n v d e - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fran S c a i n s cc (in thousands of dollars) A S S E TS Gold certificate account 19,080,893 947,512 5,026,042 1071,133 1605,853 1111,279 916,146 3236,055 781,136 462,792 738,765 743,724 2440,456 Redemption fund for F, R. notes 918,659 55,895 189,361 60,511 87,065 76,753 57,213 167,963 44,763 21,550 43,596 28,897 85,092 Total gold certificate 5,215,403 1131,644 1692,918 1188,032 reserves 19,999,552 1003,407 973,359 3404,018 825,899 484,342 782,361 772,621 2525,548 F.R. notes of other Banks 321,551 15,580 76,628 27,713 7,906 32,278 47,697 26,330 9,455 11,168 7,359 21,346 38,091 Other cash 302,402 19,061 56,602 17,183 25,151 17,641 21,659 52,886 20,821 6,901 12,643 14,084 37,770 Discounts and advances 454,870 44,199 43,901 18,300 57,542 35,751 46,468 130,761 6,008 5,931 56,145 8,518 1,346 Industrial loans 337 327 10 Acceptances— Bought outright 36,199 — 36,199 -- -- — U. S. Govt, securities: Bought outright- Bills 2,245,550 122,266 566,256 129,083 198,787 146,168 114,260 392,252 91,605 47,240 95,847 87,960 253,826 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 26,246,612 1429,076 6,618,556 1508,760 2323,481 1708,445 1335, 506 4584,758 1070,704'" 552,150 1120,284 1028,106 2$66,786 Held under repurchase agreement 8,000 8,000 — — m ** wm Total U. 8. Govt, sees. 26,254,612 1429,076 6,626,556 1508,760 2323,481 1708,445 1335,506 4584,758 1070,704 552,150 1120,284 1028,106 2966,786 Total loans & securities 26,746,018 1473,602 6,706,656 1527,060 2381,023 1744,196 1381,974 4715,519 1076,712 558,091 1176,429 1036,624 2968,132 Due from foreign banks 15 1 1/ 4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,919,920 349,503 8967046 340,684 439,581 399,419 419,842 760,909 234,573 138,522 249,103 221,981 469,757 Bank premises 93,662 4,736 10,532 4,268 9,887 6,642 9,262 11,507 6,844 5,213 4,865 7,804 12,102 Other assets 133,860 7,219 33,377 7,444 12,003 8,702 7,072 22,570 5,307 2,791 6,537 5,362 15,476 TOTAL ASSETS 52,516,980 2873,109 12,995,248 3055,997 4568,470 3396,911 2860,866 8993,741 2179,612 1207,028 2239,298 2079,823 6066,877 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

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 10, 1958 Total Boston New York 1 Cleve- Richmond Atlanta Chicago St* Minne- Kansas Dallas San J delphia land 0 Louis apolis City Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,802,134 1627,393 6,462,926 1743,466 2573,483 2152,200 1456,649 5303,220 1236,553 589,308 1101,474 793,178 2762,284 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,376,269 792,927 5,124,776 897,583 1464,477 820,803 950,657 2783,218 676,797 437,707 832,372 975,779 2619,173 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 437,369 43,709 41,755 37,723 36,644 29,219 20,355 52,929 21,950 23,437 44,124 28,740 56,784 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 230,328 13,110 1/65,188 15,870 20,470 11,730 10,350 32,890 8,510 5,520 8,970 11,960 25,760 OOOOOttttthhhhheeeeerrrrr 326,821 256 271,164 2,394 862 3,247 2,445 635 1,515 375 2,117 1,210 40,601 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,370,787 850,002 5,502,883 953,570 1522,453 864,999 983,807 2869,672 708,772 467,039 887,583 1017,689 2742,318 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,926,010 315,626 642,171 264,909 344,277 305,912 352,719 610,647 179,137 115,413 193,427 196,731 405,04l OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 34,117 1,671 8,932 1,806 3,578 1,940 1,706 5,529 1,269 1,057 1,372 1,441 3,816 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,133,048 2794,692 12,616,912 2963,751 4443,791 3325,051 2794,881 8789,068 2125,731 1172,817 2183,856 2009,039 5913,459 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 359,632 18,032 103,882 21,845 33,872 16,265 18,305 49,387 12,277 8,313 14,739 20,568 42,147 SSSSSuuuuurrrrrpppppllllluuuuusssss 809,195 47,148 223,530 56,214 71,541 4l,l65 36,198 121,515 31,560 19/761 30,524 40,926 89,113 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 215,105 13,237 50,924 14,187 19,266 14,430 11,482 33,771 10,044 6,137 10,179 9,290 22,158 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,516,980 2873,109 12,995>248 3055,997 4568,470 3396,911 2860,866 8993,741 2179,612 1207,028 2239,298 2079,823 6066,877 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 74,001 4,218 2/20,869 5,106 6,586 3,774 3,330 10,582 2,738 1,776 2,886 3,848 8,288 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 995 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,814,320 1670,174 6,775,685 1806,994 2627,996 2215,666 1516,176 5447,330 1283,614 604,223 1130,607 844,997 2890,858 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,293,000 600,000 3,120,000 640,000 920,000 775,000 475,000 2200,000 430,000 200,000 300,000 333,000 1300,000 EElliiggiibbllee ppaappeerr 80,264 —— —— 18,210 —* •• 5,960 —— 56,094 —* —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,285,000 1150,000 3,800,000 1200,000 1750,000 l480,000 1100,000 3400,000 935,000 425,000 820,000 525,000 1700,000 TToottaall ccoollllaatteerraall 29,658,264 1750,000 6,920,000 1858,210 2670,000 2255,000 1575,000 5600,000 1370,960 625,000 1176,094 858,000 3000,000 1/ After deducting $165,140,000 participations of other Federal Reserve Banks. 2j After deducting $53,132,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis