H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOABD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 2, 1959 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 December 31 increased $7 million to $19,16? million. Estimated required reserves decreased $20 million; and estimated excess reserves increased $27 million to $659 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $131 million; the week before they were $7 million less than excess reserves. The principal changes supplying average reserves were increases of $165 million in Federal Reserve holdings of U. S. Government securities and $165 million in member bank borrowings, and a decrease of $77 million in money in circulation. The principal offsetting changes were a decrease of $326 million in Federal Reserve float and an increase of $93 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $21 million. As of Wednesday, December 31, holdings of U. S. Government securities bought outright were $55 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $15 million lower, and member bank borrowings were $765 million lower. Averages of daily figures Member bank reserves, Week ending Change from week ending Wednesday, Reserve Bank credit, Dec. 31, Dec. 24, Jan. 1, Dec. 31/ and related items 1958 1958 1958 1958 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,241 + 53 +2,506 2266,,225522 Held under repurchase agreement 196 +112 - 413 95 Acceptances-- Bought outright 42 + 2 ____ ss 4433 Held under repurchase agreement 4 + 2 20 6 - Loans, discounts, and advances— Member bank borrowings 790 +165 + 134 46 Other 18 + 12 + 12 18 Float 1,618 -326 68 1,296 Total Reserve Bank credit 28,910 + 21 +2,287 27,755 Gold stock 20,526 - 10 2,248 20,534 Treasury currency outstanding 5,232 + 1 + 85 5,234 54,668 + 13 + 124 53,523 Money in circulation 32,456^ - 77 + 4 94 32,1^3 treasury cash holdings 69ir"A + 10 - 79 69? *3 (Treasury deposits with F. R. Banks 521 - 19 + 63 358 Foreign deposits with F. R. Banks 332 + 93 - 65 272 Other deposits with F. R. Banks 333 + 5 + 132 391 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,165 - 7 + 120 1,122 35,501 + 5 + 664 .35,019 Member bank reserves-- 19,167 + 7 54o 18,504 Required reserves (estimated) 18,508 - 20 - 534 18,572 Excess reserves (estimated) 659 + 27 6 68 - On December 31; 1958, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,695 million, a decrease of $124 million for the week and a decreaseyf^3^ ^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 OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 31, Dec. 241 Dec. 31, 1958 1958 1957 A S S E TS Gold certificate account 19,012,893 + 4,998 -2,202,499 Redemption fund for F. R. notes 937,919 10,000 + 68,670 Total gold certificate reserves 19,9507512 + 1^7995 -2,133,829 F. R. notes of other Banks 476,993 + 144,037 + 33,705 Other cash 336,474 + 55,956 2,148 Discounts and advances 63,963 765,693 + 8,599 Industrial loans 336 146 Acceptances: Bought outright 43,290 + 3,553 + 953 Held under repurchase agreement 5,799 549 - 17,552 U. S. Government securities: Bought outright— Bills 2,250,450 + 54,600 +1,266,877 Certificates 18,649,726 -- -1,283,886 Notes 2,867,565 -- +2,867,565 Bonds 2,483,771 -- - 317,979 Total bought outright 26,251,512 + 54,600 +2 ,532,577 Held under repurchase agreement 95,000 - 15,000 - 424,350 Total U, S, Government securities 26,346,512 + 39,600 +2,108,227 Total loans and securities 26,459,900 - 721,991 +2,100,081 Due from foreign banks 15 — Uncollected cash items 5,630,684 - 405,380 4* 135,949 Bank premises 93,636 - 721 + 9,873 Other assets 146,641 + 9,129 - 76,943 TOTAL ASSETS 53,095,155 - 903,972 4- 66,688 L I A B I L I T I ES Federal Reserve notes 27,872,023 - 220,354 4- 337,232 Deposits: Member bank reserves 18,503,991 - 573,834 - 529,804 U« S. Treasurer—general account 358,364 - 126,399 - 122,446 Foreign 272,485 + 35,932 - 83,857 Other 390,851 4- 78,546 4- 144,567 Total deposits 19,525,691 - 585,755 - 591,540 Deferred availability cash items , 4,335,126 - 57,689 4- 264,282 Other liabilities and accrued dividends—' 21,683 - 12,445 4- 6,735 TOTAL LIABILITIES 51,754,523 - 876,243 + 16,709 C A P I T AL A C C O U N TS Capital paid in 363,098 580 4- 17,992 Surplus 868,410 + 59,215 2/+ 31,669 Other capital accounts 109,124 - 87,524 + 318 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,095,155 903,972 4- 66,688 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.1# + • 7f» - 4.2# Contingent liability on acceptances purchased for foreign correspondents 67,799 - 2,784 - 8,315 Industrial loan commitments 975 - 10 - 134 1/ No accrued dividends at end-of-year-dates. 2/ Net change after elimination of Sec. 13b surplus of $27,543,000 Sept. 2, 195^' MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 31, 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 43,595 213 15,869 742,200 16 days to 90 days 20,368 18 33,220 7,093,743 91 days to 1 year 43 -- 13,159,233 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 FTRoAStEaRl 3379^3 335 49,089 26,346,512 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1958 Phila Cleve St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (in thousands of dollars) A S S E TS Gold certificate account 19,012,893 8 8 8 , 1 56 5 , 2 7 7 , 3 67 1037,847 1 4 4 3 , 5 93 1033,459 8 6 4 , 7 42 3 3 2 6 , 2 27 7 5 3 , 4 90 4 5 8 , 3 83 748,339 721,519 2459,771 Redemption fund for F. R. notes 937,919 5 5 , 6 71 198,412 60,195 87,750 8 5 , 8 03 57,037 1 6 7 , 6 34 44,66l 2 2 , 4 63 43,533 2 9 , 8 45 84,915 Total gold certificate 921,779 798,151 reserves 19,950,812 9 4 3 , 8 27 5 , 4 7 5 , 7 79 1 0 9 8 , 0 42 1 5 3 1 , 3 43 1 1 1 9 , 2 62 3 4 9 3 , 8 61 4 8 0 , 8 46 7 9 1 , 8 72 7 5 1 , 3 64 2 5 4 4 , 6 86 F.R. notes of other Banks 476,993 41,061 8 3 , 8 65 47,991 29,107 57,452 53,143 40,267 2 3 , 2 87 17,588 11,317 28,333 43,582 Other cash 336,474 19,758 60,901 16,950 28,071 22,112 2 6 , 5 60 5 8 , 7 34 2 6 , 5 13 8,664 1 4 , 6 62 1 4 , 6 87 3 8 , 8 62 430 Discounts and advances 63,963 1,220 1 1 , 5 68 6 , 7 20 4, 3 68 2,488 5 , 5 70 6,445 2 , 2 62 1 9 , 2 06 1 , 6 81 2 , 0 05 336 327 9 Industrial loans Acceptances: 43,290 43,290 Bought outright 5,799 5,799 Held under rep. agree. U. S. Govt, securities: Bought outright— 47,343 Bills 2 , 2 5 0 , 4 50 1 2 2 , 5 32 5 6 7 , 4 91 1 2 9 , 3 65 1 9 9 , 2 21 1 4 6 , 4 87 1 1 4 , 5 10 3 9 3 , 1 08 9 1 , 8 05 9 6 , 0 56 8 8 , 1 52 2 5 4 , 3 80 Certificates 18,649,726 1 0 1 5 , 4 40 4 , 7 072 , ' 8 6 - 4 Or - 1 - 1 6 . 0 4 7 , 2 8 , 3 0 9 61 1 6 5 0 , 9 67 1 2 1 3 , 9 o 48 /- y^r-r- 9 4 - 8 »» , . 9 « 5 - 4 rt 3 2 5 r. 7 A' , 7 7 3 1 4 n 1 7 £ 6 6 , 0 9 , 7 7 9 9 7 r,7H 3 Q 9 O 2 ,3 C 3 4 TO 1O 7 2 9 2n 6 ,o3 , 0 9 2 6 6 7 3 0 , 1 5 1 2 2 9 2 ,3 1 2 0 Q 8 5O , C 0 7 3 2 Q 2Oi4i,13 51 QR B N o o n t d e s s 2 2 , ,4 8 6 8 7 3 , ,7 5 6 7 5 1 1 1 5 3 6 5 , , 2 1 3 3 6 4 7 6 2 2 6 3 , , 3 1 2 0 7 9 142 X ,7 t c 7 , 7 I I I 5 2 , 2 2 21 5 591 3 1 , , 8 8 0 7 5 6 6 1 ,01 1 1 5 6 8 1 6 , , 6 6 7 5 4 5 1 1 4 2 5 6 , , 9 3 1 8 0 2 4 5 3 0 3 0 , , 9 8 0 6 7 5 101,323 6 0 , 3 25 97,292 280,753 Total 26,251,512 1 4 2 9 , 3 42 6 , 6 1 9 , 7 91 1509,042 2 3 2 3 , 9 15 1 7 0 8 , 7 64 1 3 3 5 , 7 56 4585,614 1 0 7 0 , 9 0 4 5 5 2 , 2 53 1120,493 1 0 2 8 , 2 98 2 9 6 7 , 3 40 Held under rep. agree. 9 5 , 0 00 9 5 , 0 00 — 2: — 1: 11 — Total U. S. Govt, sees. 26,346,512 1 4 2 9 , 3 42 6,714,791 1 5 0 9 . 0 42 2 3 2 3 . 9 15 1 7 0 8 , 7 64 1 3 3 5 , 7 56 4585,614 1 0 7 0 , 9 04 552,253 1120,493 1 0 2 8 , 2 98 2967,340 Total loans & securities 26,459,900 1 4 3 0 , 8 89 6,775,448 1 5 1 5 , 7 62 2 3 2 8 , 2 83 1 7 1 1 , 2 52 1 3 4 1 , 3 26 4 5 9 2 , 0 59 1 0 7 3 , 1 66 5 5 2 , 6 92 1139,699 1029,979 2969,345 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 1,2157353 332,939 543,121 433,573 453,214 902,999 232,399 145,320 254,995 242,747 468,518 'Uncollected cash items 5,630,684 4 0 5 , 5 06 Bank premises 93,636 4 , 7 05 1 0 , 3 13 4,245 9,432 6 , 6 54 9,294 11,824 6 , 8 62 5,193 4,799 7 , 7 86 12,?29 Other assets 146,641 7,884 36.477 8,181 12.768 9,479 8,470 24.838 5,917 3,076 7.>.,13Q 5.t9l1 16 y TOTAL ASSETS 53,095,155 2 8 5 3 , 6 31 1 3 , 6 5 8 , 1 40 3 0 2 4 , 1 11 4 4 8 2 , 1 26 3359,785 2813,787 9124,584 2 1 6 6 , 2 96 1213,379 2224,475 2080,8l4 6094,027 1/ After deducting $11,000 participations of other Federal Reserve Banks Dig2it/iz eLde fosr sF RAtShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

h.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH DECEMBER 31, 1958 Total Boston New York P d h el i p l h ia Cl l e a v n e d - 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 co L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 27,872,023 1630,425 6,512,632 1751,391 2571,638 2135,757 1476,020 5302,681 1238,269 598,279 1101,081 798,613 2755,237 Deposits: Member bank reserves 18,503,991 771,057 5,570,787 863,417 1344,045 764,580 846,398 2809,518 669,057 419,895 817,730 2657,738 U.S.Treas.-gen.acct. 358,364 21,009 35,306 22,996 4,656 29,422 32,479 48,619 19,283 24,459 38,271 9 6 3 9 0 , , 7 6 6 3 9 0 51,234 Foreign 272,485 13,395 1/103,755 16,215 20,915 11,985 10,575 33,605 8,695 5,640 9,165 12,220 26,320 Other 390,851 2,202 307,036 4,013 5,054 4.635 2.347 _ 8,4o4 3,l4l 961 3,279 2,778 47,001 Total deposits 19,525,W 807,663 6,016,884 906,641 1374,^70810,622891,799 2900,146 700,176 450,955 868,445 1015,397 2782,293 Deferred availability cash items 4,335,126 338,324 755,659 275,287 413,145 343,293 380,576 721.508 174,787 129,777 200,590 196,451 Other liabilities 21,683 1,069 5,376 1,253 1,853 1,130 1,080 3,967 792 933 848 710 4 0 2 5 , , 7 6 2 7 9 2 TOTAL LIABILITIES 51,754,523 2777,481 13,290,551 2934,572 4351,306 3290,802 2749,475 8928,302 2114,02? 1179,944 2170,964 2011,171 5945^931 CAPITAL ACCOUNTS Capital paid in 363,098 18,121 105,850 21,894 34,246 16,439 18,371 49,665 12,348 8,387 14,848 20,684 42,245 Surplus 868,410 50,116 238,902 59,607 76,643 44,846 39,474 132,159 33,746 20,785 32,935 43,436 95,761 Other capital accounts 109,124 7,913 22,837 8,038 9,931 7,698 6,467 14,458 6,178 4,263 5,728 5,523 10,090 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,095,155 2853,631 13,658,140 3024,111 4482,126 3359,785 2813,787 9124,584 2166,296 1213,379 2224,475 2080,8i4 6094,027 Conting. liab. on acceptances purchased for foreign correspondents 67,799 3,864 2/19,119 4,678 6,034 3,458 3,051 9,695 2,509 1,627 2,644 3,526 7,594 Industrial loan commit. 975 35 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 29,057,573 1703,455 6,827,935 1815,156 2645,549 2223,439 1556,710 5474,313 1296,"W 614,338 1137,662 849,075 2913,103 Collat. for F. R. notes: Gold certificate acct. 11,073,000 650,000 2,920,000 66440o,,0o0o0o 992200,,000000 772255,,000000 447755,,000000 22220000,,000000 443300,,000000 200,000 330000,,000000 313,000 1300,00c Eligible paper 25,393 5,285 -- -- — -- 1,600 18,508 , U. S. Govt, securities 18,615,000 1150,000 4,000,000 1200,000 1750,000 1530,000 1100,000 3400,000 935,000 425,000 850,000 575,000 1700,000 Total collateral 29,713,39311800,000 6,920,000 1845,285 2670,000 2255,000 15"75TOC~O 5600,000 13^,600 625,000 1168,508 8E87oco 3000,000 1/ After deducting $168,730,000 participations of other Federal Reserve Banks, ' ~ -/ After deducting $48,680,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis