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 24, 1958 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 ban kreserves for the six-day period ending December 23 increased $329 million to $19,173 million .Estimated required reserves increased $177 million; and estimated excess reserves increased $152 million to $639 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $46 million; for the week before, the ywere $29 million less than member bank borrowings* The principal changes supplying average reserves were increases of $555 million in Federal Reserve float and $77 million in member bank borrowings, and a decrease of $23 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $128 million in money in circulation and $121 million in Treasury deposits with Federal Reserve Banks, and decreases of $49 million in Federal Reserve holdings of U. S. Government securities and $37 million in gold stock. Total Reserve Bank credit increased $588 million. As of Tuesday, December 23, holdings of U. S. Government securities bought outright were $7 million lower than on Wednesday, December 17, U. S. Government securities held under repurchase agreement were $53 million higher, and member bank borrowings were $53 million lower. NOTE: Next week's statement will be issued on Friday, January 2, containing usual Wednesday and seven-day averages. Comparisons will be with December 24 figures and averages, rather than with the figures shown in this statement. Averages of daily figures Member bank reserves, 6 days ending Change from week ending Reserve Bank credit, Dec. 23, Dec. 17, Dec. 25, and related items 1958 1958 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 26,187 - 36 +2,570 Held under repurchase agreement 79 - 13 - 254 Acceptances-- Bought outright 4400 + 3 + 3 40 Held under repurchase agreement 1 - 19 5 -- Loans, discounts, and advances-- Member bank borrowings 593 + 77 - 188 509 Other 4 + 1 2 19 Float 1,994 +555 + 100 1,753 Total Reserve Bank credit 28,899 +588 +2,212 28,644 Gold stock 20,539 - 37 -2,231 20,519 Treasury currency outstanding 5,231 + 2 + 86 5,231 54,669 +552 + 67 54,394 Money in circulation 32,522 +128 + 433 32,640 Treasury cash holdings 682 - 11 - 82 693 Treasury deposits with F. R. Banks 549 +121 + 66 431 Foreign deposits with F. R. Banks 240 - 23 - 119 229 Other deposits with F. R. Banks 331 - 4 + 152 316 Other F, R. account s(net) 1,172 + 11 + 111 1,171 35^495 +222 + 559 35,479 Member bank reserves— 19,173 +329 - 493 18,915 Required reserves (estimated) 18^534 +177 Excess reserves (estimated) 639 +152 13 On December 23, 1958, U, S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,832 million, a decrease of $39 million since last Wednesday and an increase of $56 million from December 25, 1957. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF TEE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 23, Dec, 17, "Tec. 25, -12ZL 1958 1958 A S S E TS Gold certificate account 19,007,891 68,002 -2,207,501 Redemption fund for F. R. notes + 11,471 Total gold certificate reserves 19,935,953 ""557531 F. R. notes of other Banks' 300,732 40,418 - W,377 Other cash 282,724 - 19,803 - 23,564 Discounts and advances 527,441 - 40,815 - 266,268 Industrial loans 336 163 Acceptances: Bought outright 39,692 + 2,495 + 3,365 Held under repurchase agreement 5,250 4- 5,250 - 18,381 U. S, Government securities: Bought outright— Bills 2,185,850 7,400 +1,285,777 Certificates 18,549,726 -1,283,886 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 317,979 Total bought outright 26,186,912 7 >400 +2,5317577 Held under repurchase agreement 131,000 53,100 - 253/200 Total U. S. Government securities 26,317,912 + 45,700 +2,2987277 Total loans and securities 26,890,631 + 12,630 +2,016,830 Due from foreign "banks 15 + 3 Uncollected cash items 6,183,146 - 748,477 + 599,631 Bank premises 94,368 + 523 + 10,473 Other assets 135,928 + 10,592 - 74,488 TOTAL ASSETS 53,8237512 - 841,484 + 335,M L I A B I L I T I ES Federal Reserve notes 28,101,314 + 170,210 + 390,643 Deposits: Member bank reserves 18,915,348 - 201,389 528,966 U, S. Treasurer--general account 430,941 - 72,507 84,501 Foreign 229,092 - 22,832 156,908 Other 316,044 - 20,365 135,737 Total deposits 19,891,425 - 317,093 'TS57636 Deferred availability cash items 4,429,935 - 705,048 366,683 Other liabilities and accrued dividends 33,6l8 - 234 7,868 TOTAL LIABILITIES 52,456,292 - 052,165 299,558 C A P I T AL A C C O U N TS Capital paid in 362,428 + 2,007 + 17,841 Surplus 809,195 1/+ 34,059 Other capital accounts 195,597 + 8.674 - 15,628 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,823,512 " 841,484 + J335,830 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 4l.5$ 4.i Contingent liability on acceptances purchased for foreign correspondents 70,863 1,419 2,71" Industrial loan commitments 995 109 1/ Net change after elimination of Sec. 13b surplus of $27,5 43,000 on Sept. 2, 195^ • MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 23, 195# (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 advance s loans Acceptances securities Within 15 days 507,254 203 14,528 403,800 16 days to 90 days 20,187 28 30,414 7,420,043 91 days to 1 year 43 13,142,733 Over 1 year to 5 years 62 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263>662 Digitized for FRTAoStEaRl 527,441 335 44,942 25,317,912 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 23. 1958 ' Phila- I . . ^ " •• • •r-- 1 St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delpbia ^ Land Louis apolis City Franciscc (In thousands of dollars) A S S E TS Gold certificate account 19,007,891 922,211 4,851,459 1113,144 1568,926 1072,315 946,051 3395,966 778,938 448,295 703,216 755,472 2451,898 Redemption fund for F. R« notes 928,077 55,671 198,412 60,195 87,750 75,803 57,037 167,771 44,661 22,463 43,532 29,867 84,915 Total gold certificate reserves 19,935,968 977,882 5,049,871 1173,339 1656,676 1148,118 1003,088 3563,737 823,599 470,758 746,748 785,339 2536,813 F.R. notes of other Banks 300,732 18,628 63,420 25,922 10,874 34,630 44,806 27,065 12,803 10,807 6,055 21,114 24,608 Other cash 282,724 16,379 53,745 14,380 23,212 16,820 21,940 47,490 21,773 7,211 12,090 12,624 35,060 Discounts and advances 527,441 18,698 181,810 18,285 71,852 9,758 27,438 56,867 20,737 6,539 80,505 4,902 30,050 Industrial loans 336 327 —•* ^ Acceptances: Bought outright 39,692 39,692 Held under rep. agree. 5,250 5,250 U. S. Govt, securities: Bought outright— Bills 2,185,850 119,015 551,201 125,651 193,502 142,281 111,223 361,824 89,170 45,984 93,299 85,622 247,078 Certificates 18,649,726, 1015,440 4,702,864 1072,061 1650,967 1213,946 948,954 3257,734 760,797 392,334 796,026 730,529 2108,072 2,867,565 Notes 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 26,186,912 1425,825 6,603,501 1505,328 2318,196 1704,558 1332,469 4574,330 1068,269 550,894 1117,736 1025,768 2960,038 Held under rep. agree. 131.000 131.000 Total U. S. Govt, sees. 26.317.912 1425.825 6.734.501 1505.328 2318.196 1704.558 1332.469 4574.330 1068.269 550,894 1117,736 1025.768 2960,038 Total loans & securities 26,890,631 1444,850 6,961,253 1523,613 2390,048 1714,316 1359,907 4631,197 1089,006 557,442 1198,241 1030,670 2990,088 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 6,183,146 433,437 1,209,871 386,359 577,884 491,531 479,880 1020,854 253,822 173,616 281,882 286,499 587,511 Bank premises 94,368 4,739 10,533 4,245 9,884 6,683 9,182 11,759 6,885 5,277 4,865 7,805 12,511 Other assets 135,928 7,209 33,658 7,357 13,538 8,614 7,771 22,471 5,314 2,845 6,503 5,587 15>06l TOTAL ASSETS 53,823,512 2903,125 13,382,355 3135,216 4682,117 3420,713 2926,575 9324,575 2213,203 1227,956 2256,385 2149,639 6201,653 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 23, 1958 Total Boston New York £ ££ ^ |Bl=!mon» Atlanta Chicago ^ % %% Dallas (in thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 28,101,314 1649,831 6,549,008 1769,053 2594,759 2163,445 1488,323 5350,386 1248,382 600,522 1106,547 804,134 2776,924 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,915,348 794,734 5,310,327 910,341 1494,265 781,343 960,835 2975,737 684,790 434,387 84i,oo4 1010,456 2717,129 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 430,941 27,524 46,220 38,664 35,215 38,124 26,548 60,478 31,133 25,270 36,915 36,536 28,314 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 229,092 13,509 1/58,926 16,353 21,093 12,087 10,665 33,891 8,769 5,688 9,243 12,324 26,544 OOOOOttttthhhhheeeeerrrrr 316,044 484 262,996 2,U36 1,019 2,307 1,311 823 1,165 336 1,107 1,165 40.8% TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,091,425 836,251 5,67*,*69 967,794 1551,592 033,861 999,359 3070,929 725,857 465,681 888,269 1060,401 2812!882 ' DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,429,935 337,872 771,061 305,535 409,053 350,931 372,190 696,706 184,487 126,648 205,538 213,200 456,714 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 33,618 1,711 9,046 1,684 3,551 1,633 1,719 5,188 1,143 1,261 1,349 1,522 3,811 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 52,456,292 2825,665 13,007,584 3044,066 4558,955 3349,870 2861,591 9123,209 2159,869 1194,112 2201,703 2079,337 6050,331 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 362,428 18,059 105,541 21,887 34,231 16,416 18,350 49,601 12,337 8,384 l4,8o4 20,632 42,186 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 195,597 12,253 45,700 13,049 17,390 13,262 10,436 30,250 9,437 5,699 9,354 8.744 20.023 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,823,512 2903,125 13,382,355 3135,216 4682,117 3420,713 2926,575 9324,575 2213,203 1227,956 2256,385 2149,639 6201,653 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb,,,,, ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 70,863 4,121 2/18,951 4,989 6,435 3,687 3,253 10,339 2,675 1,735 2,820 3,760 8,098 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 995 ™ 55 9^0 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 29,023,184 1813,800 850,738 2905,761 1691,350 6,809,994 2649,669 2225,726 1553,731 5473,424 1297,042 6l4,463 1137,486 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,073,000 600,000 2,920,000 640,000 920,000 775,000 475,000 2200,000 430,000 200,000 300,000 313,000 1300,000 EElliiggiibbllee ppaappeerr 116,874 — 17,023 -- -- — — 20,060 -- 79,791 -- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,565,000 1150,000 4,000,000 1200,000 1750,000 1480,000 1100,000 3400,000 935,000 425,000 850,000 575,000 1700,000 TToottaall ccoollllaatteerraall 29,754,874 1750,000 6,920,000 1857,023 2670,000 2255,000 1575,000 5600,000 1385,060 625,000 1229,791 888,000 3000,000 1/ After deducting $170,16b,000 part:. cipations of other Federal Reserve Banks, 2/ After deducting $51 #912,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis