H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERA LRESERVE SYSTEM December 18, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending December 17 increased $21$ million to $18,84 4million. Estimated required reserves increased $187 million; and estimated excess reserves increased $28 million to $487 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $29 million; the week before the ywere $45 millio nless than excess reserves. The principal changes supplying average reserves were increases of $327 million in Federal Reserve float, $102 million in member ban kborrowings, and $33 million in Federal Reserve holdings of U. S. Government securities. The principal offsetting changes were increases of $176 million in money in circulation, $52 million in Treasury deposits with Federa lReserve Banks, and $31 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $464 million. As of Wednesday, December 17, holding sof U. S. Government securities bought outright were $52 million lower than a week earlier ,U. S. Government securities held under repurchase agreement wer e$70 millio nhigher, an dmember bank borrowings were $108 millio nhigher. NOTE: Next week's statemen twill be issued on Wednesday, December 24, as of Tuesday ,December 23. Averages of daily figures Member bank reserves, Week endingC hange from week endingW ednesday, Reserve Bank credit, Dec. 17, Dec. 10, Dec. 18, Dec. 17, and related items 1958 1958 1957 1958 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,223 - 27 +2,623 26,194 Held under repurchase agreement 92 + 60 215 78 - Acceptances-- Bought outright 37 + 10 37 "" ** Held under repurchase agreement 1 + 1 7 - Loans, discounts, an dadvances— Member bank borrowings 516 +102 229 562 - Other 3 + 1 3 7 - Float 1,439 +327 86 . 1,797 - Total Reserve Bank credit 28,311 +464 +2,093 28,675 Gold stock 20,576 - 17 -2,194 20,574 Treasury currency outstanding 5,22.9 + 86 5,229 54,117 +447 13 54,478 - Money in circulation 32,394 +176 + 421 32,416 Treasury cash holdings 693 - 3 - 75 683 Treasury deposits with F» R. Banks 428 + 52 + 8 9 503 Foreign deposits with F. R. Banks 263 + 31 71 252 - Other deposits with F. R. Banks 335 + 7 + 152 336 OOtthheerr FF.. RR,, aaccccoouunntt ss((nneett)) 1,161 - 30 + 111 1,171 35,273 +233 + 625 35,362 Member bank reserves-- 18,844 +215 - 639 19,117 Required reserves (estimated) 18,357 +187 516 18,525 - Excess reserves (estimated) 487 + 28 123 592 - On December 17, 1958, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,871 million ,an increase of Digitized$ fo2r 3F RAmSiElRl ion for the week and an increase of $110 millio nfrom the comparable http://fradsear.tstelo uisafe dy.oerga/ r ago. Federal Reserve Bank of St. Louis

B.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 17, Dec, 10, Dec. l«7 1957 A S S E TS Gold certificate account 19,075,893 5,000 -2,141,500 Redemption fund for F« R,n otes 916,606 - 2,053. + 49,352 Total gold certificater eserves 19,992,499 7,053 -2,092,148 P. R, notes of other Banks 341,150 19,599 - 10,837 Other cash 302,527 + 125 6,302 Discounts and advances 568,256 113,386 - 162,597 Industrial loans 336 1 171 - Acceptances: Bought outright 37,197 998 + 10,885 Held under repurchase agreement - 15,51$ U. S, Government securities: Bought outright— . Bills 2,193,250 52,300 +1,328,977 Certificates 18,649,726 -- -1,283,88# Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 317,979 Total bought outright 26,194,312 52,300 Held under repurchase agreement mm 69,900 - 185,900 Total U*S. Government securities 26,272,212 17,600 +2.408,777 Total loans an dsecurities 26,878,001 + 131,983 +2,241,375 Due from foreign banks 15 + 3 Uncollected cash items 6,931,623 +2,011,703 + 434,229 Bank premises 93,845 + 183 + 10,260 Other assets - 8,524 - 69,70b TOTAL ASSETS 5•4 ,664,996 +2,148,015 + 506,880 L I A B I L I T I ES Federal Reserve notes 27,931,104 + 128,970 + 320,626 Deposits: Member bank reserves 19,116,737 740,468 - 508,311 U. S. Treasurer--general account 503,448 66,079 + 15,710 Foreign 251,924 21,596 Other 336,409 u 9^88 ±l6li$6 Total deposits 20,208,515 + 837,731 - 423,160 Deferred availability cash items 5,134,983 +1,208,973 + 560,154 Other liabilities and accrued dividends 33,852 265 + 9,160 TOTAL LIABILITIES 53,308,457 +2,175,409 + 466,780 C A P I T AL A C C O U N TS Capital paid in 360,421 + 789 + 16,778 Surplus 809,195 1/+ 34,059 Other capital accounts 186,923 - 28,182 10,737 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,664,996" +2,l48yOlg 506,880 Ratio of gol dcertificate reserves to deposit and F. R» not eliabilities combined 41.5% .9# 4.3$ Contingent liability on acceptances purchased for foreign correspondents 72,282 1,719 3,915 Industrial loan commitments 995 100 1/ Net chang eafter elimination of Sec .13b surplus of $27,543,00 0°n Sept. 2 ,195& MATURITY DISTRIBUTION OF LOAN SAND SECURITIES, DECEMBER 17, 1958 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 1 5days in Accordanc ewith maximu mmaturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 553,964 203 8,550 185,200 16 days to 90 days 14,225 28 28,647 7,592,943 91 days to 1 year 67 13,142,733 Over 1 year to 5 years § 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1.263,662 Total 568,256 W 37,197 26,272,212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BAM ON DECMEBE R17, 1958 Total Boston New York Phila- J Cleve- Richmond Atlanta Chicago St, Minne- Kansas Dallas I San delphla} land Louis apolis City IFrancisco (In thousands of dollars) A S S E TS Gold certificate account 19,075,8931 912,639 4,867,545 1042,86l 1509,595 1102,530 958,596 3462,810 764,989 439,516 753,299 716,757 2544,756 Redemption fund for F, R. notes 916,606 55,769 188,811 60,336 86,891 76,230 57,121 167,777 44,715 21,505 43,565 28,871 85,015 Total gold certificate reserves 19,992,499 968,408 5,056,356 1103,197 1596,4861 178,760 1015,7173 630,587 809,704 461,021 796,864 745,628 2629,771 F.R, notes of other Banks 341,150 21,455 77,323 34,132 10,779 33,496 42,509 26,507 11,761 11,766 9,096 20,992 41,334 Other cash 302,527 18,772 52,060 16,811 24,823 18,411 24,375 52,199 22,044 7,598 13,024 13,144 39,266 Discounts and advances 568,256 20,089 131,611 5,520 102,061 25,646 36,268 158,151 18,793 1,551 48,082 15,778 4,706 Industrial loans 336 327 9 Acceptances- Bought outright 37,197 -- 37,197 — — — -- — -- -- '•38. S* Govt, securities: Bought outright- Bills 2,193,250 119,418 553,067 126,07t 194,158 142,763 111,599 383,116 89,472 46,140 93,615 85,911 247,914 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 26,194,312 1426,228 6,605,367 1505,754 2318,8521 705,040 1332,845 4575,622 1068,571 551,050 1118,052 1026,057 2960,874 Held under repurchase agreement 77,900 77,900 Tot&l tJ. S .Govt, sees. 26,272*212 1426,228 6,683,267 1505,754 2318,852 1705,040 1332,84 54575,622 1068,571 551*050 1118,052 1026,657 2960.874 Total loans & securities 26,878,001 1 446,644 6,852,075 1511,274 2420,913 1730,686 1369,11 34733,773 1087,364 552,610 1166,134 1041,835 2965,58b Due from foreign tanks 15 1 1 /4 1 l 1 12 1 2/ 1 1 l Uncollected cash items 6,931,623 471,547 1,443,221 453,101 657,800 540,429 529,518 1092,516 297,807 187,831 313,498 286,318 658,037 Bank premises 93,845 4,736 10,533 4,268 9,872 6,690 9,264 11,564 6,885 5,228 4,865 7,804 12,136 Other assets 125,336 6,672 31,178 7,085 11,132 7,949 7,262 20,860 4,912 2,607 6,087 5,242 14,350 TOTAL ASSETS 54,664,996 2938,235 13,522,750 3129,86 94731,806 3516,422 2997,759 9568,00 82240,478 1228,661 2309,569 2160,964 6360,475 1/ After deducting $11,000 participation sof other Federa lReserve Banks, 2J Less than $500, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMSHT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 17. 1958 Total Boston New York ^ Richmond Atlanta Chicago 1 ^ Kansas Dallas (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEE SSSSS..... FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,931,104 1636,346 6,497,848 1758,274 2585,513 2159,270 1479,247 5318,487 1243,767 591,473 1104,006 799,501 2757,372 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,116,737 801,539 5,240,831 891,472 1502,843 867,830 985,134 3101,583 699,594 434,472 877,713 966,864 2746,862 UUUUU..... SSSSS,,,,,TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaacccccccccc ttttt..... 503,448 17,664 97,259 14,940 27,206 41,588 38,353 93,070 20,264 21,793 4i,8i6 30,091 59,4o4 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 251,924 13,509 1/81,758 16,353 21,093 12,087 10,665 33,891 8,769 5,688 9,243 12,324 26,544 OOOOOttttthhhhheeeeerrrrr 336,409 533 277,877 3,601 1,513 2,452 1,934 892 1,185 285 1,438 1,259 43,440 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,208,518 833,245 5,697,725 926,366 1552,655 923,957 1036,086 3229,436 729,812 462,238 930,210 1010,538 2876,250 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,134,983 390,005 946,922 352,800 468,042 361,231 4l6,i37 814,903 212,8o4 i4o, 160 219,767 239,482 572,730 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 33,652 1,617 9,401 1,787 3,278 1,777 1,681 5,418 1,174 1,074 1,275 1,579 3,791 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 53,308,457 2861,213 13,151,896 3039,227 4609,488 3446,235 2933,151 9368,244 2187,557 1194,945 2255,258 2051,100 6210,143 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTT'''''SSSSS jjjjj CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd,,,,, iiiiinnnnn 360,421 18,042 103,997 21,855 33,960 16,4oo 18,336 49,558 12,330 8,359 14,794 20,612 42,178 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 186,923 11,832 43,327 12,573 16,817 12,622 10,074 28,691 9,031 5,596 8,993 8,326 19.041 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 54,664,996 2938,235 13,522,750 3129,869 4731,806 3516,422 2997,759 9568,008 22.40,478 1228,661 2309,569 2120,964 6360,475 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb,,,,, ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 72,282 4,121 2/20,371 4,989 6,435 3,687 3,253 10,339 2,675 1,735 2,820 3,759 8,098 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 995 FEDERAL RESERVE AGENTS' ACCOUNTS FF,, RR.. nnootteess oouuttssttaannddiinngg 28,954,951 1682,609 6,813,090 1815,352 2635,867 2228,153 1546,075 5439,896 1298,634 605,578 1132,400 852,776 2904,521 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. li,273,00C 600,000 3,120,000 64o,ooo 920,000 775,ooo 475,000 2200,000 430,000 200,000 300,000 313,000 1300,000 EElliiggiibbllee ppaappeerr 71,431 ~ ~ 5,035 —*• ~ — —— —— 18,560 —— 47,836 —- —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,365,000 1150,000 3,800,00c 1200,000 1750,000 i48o,ooo 1100,000 34oo,ooo 935,000 425,000 850,000 575,000 1700,00c TToottaall ccoollllaatteerraall 29,709,431 1750,000 6,92c,000 1845,035 2670,000 2255,000 1575,000 5600,000 1383,560 625,000 1197,836 888,000 3000,000 1/ After deducting $170,166,000 participations of other Federal Reserve Banks. 2/ After deducting $51,9H>00C participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis