H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 8, 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 "ban kreserves for the week ending January 7 decreased $36 millio nto $19,131 million .Estimated required reserves increased $6l million; and estimated excess reserves decreased $97 million to $575 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $51 million, compared with $118 million the week before. The principal changes reducing average reserves were decreases of $217 million in Federal Reserve float, $164 million in member ban kborrowings, and $151 million in U. S. Government securities bought outright and $102 million held under repurchase agreement. The principal offsetting changes were decreases of $448 million in money in circulation, $75 million in Treasury deposits with Federal Reserve Banks, $53 million in foreign deposits with Federal Reserve Banks, and $43 million in "other" F. R. account s(net). Total Reserve Bank credit decreased $635 million. As of Wednesday, January 7, holdings of TJ. S. Government securities bought outright were $247 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $58 million lower, and member bank borrowings were $718 million higher. Averages of daily figures WWWeeedddnnneeesssdddaaayyy MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss,,, WWeeeekk eennddiinngg Change from week ending JJJaaannn... 777,,, RRReeessseeerrrvvveee BBBaaannnkkk cccrrreeedddiiittt,,, JJaannuuaarryy 77 ,, Dec. 31, Jan. 8, 111999555999 aaannnddd rrreeelllaaattteeeddd iiittteeemmmsss 11995599 1958 1958 I^I n millions of dollars) Reserve Bank credit: U, S. Government securities— Bought outright—System account 26,090 -151 +2,445 26,004 Held under repurchase agreement 94 -102 - 272 37 Acceptances— Bought outright 43 + 1 - - 4433 Held under repurchase agreement 3 - 1 - 7 * Loans, discounts, and advances- Member bank borrowings 626 -164 76 764 - Other 18 + 12 18 - - Float 1,401 -217 + 73 1,122 Total Reserve Bank credit 28,275 -635 +2 ,175 27,989 Gold stock 20,534 + 8 -2,24? 20,534 Treasury currency outstanding 5,234 + 2 + 88 5,234 54,043 -625 + 16 53,757 Money in circulation 32,008 -448 + 455 31,845 Treasury cash holdings 701 + 7 67 702 - Treasury deposits with F. R. Banks 446 - 75 - 83 567 Foreign deposits with F. R. Banks 279 - 53 - 58 275 Other deposits with F. R. Banks 356 + 23 + 170 333 Other F. R. accounts (net) 1,122 - 43 + 126 1,121 34,912 j LPv S + 543 34,843 Member bank reserves-- 19,131 - 366 l 527 18,915 Required reserves (estimated) 18,556 + - 426 18,456 Excess reserves (estimated) 575 - 97 101 459 * Less than $500,000. On January 7; 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,720 million, an increase of $25 Digitizedm fiorl FlRiAoSnER for the week and a decrease of $24 milion from the comparable date a year http://fraasegr.ost.lo uisfed.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 8, Jan. 7, Dec. 31, Jan. 1958 1959 1958 A S S E TS 5,001 Gold certificate account 19,007,892 - -2,222,499 Redemption fund for F. R. notes 942,796 + 4,877 + 73,546 Total gold certificate reserves 19,950,600 - 124 -2,140,953 F. R. notes of Other Banks 568,591 + 91,598 + 4,242 Other cash 371,498 + 35,024 - 35,104 Discounts and advances 782,195 + 718,232 + 75,536 Industrial loans 336 — 154 Acceptances: Bought outright 4433,,228888 - 2 ++ 11,,4466?? 285 Held under repurchase agreement - 5,514 - 12,845 U. S. Government securities: Bought outright- 2,003,050 Bills - 224477,,440000 +1,103,377 -1,283,886 Certificates 18,649,726 — +2,867,565 Notes 2,867,565 Bonds 2,483,771 -- - 317,979 Total bought outright 26,004,112 - 247,400 +2,369,077 Held under repurchase agreement 37,000 - 58,000 - 73,100 Total U. S. Government securities 26,041,112 W 305,400 +2,295,977 Total loans and securities 26,867, 2116 5 + 407,316 +2,359,981 . Due from foreign banks -- Uncollected cash items 5,l6l,6l2 - 469,072 + 396,488 Bank premises 93,640 + 4 + 9,707 Other assets 160,581 + 13,940 -- 8811,,668811 TOTAL ASSETS 53,173,841 + 78,585 ++ 550044,,660000 L I A B I L I T I ES Federal Reserve notes 27,668,350 - 203,673 + 362,794 Deposits: Member "bank reserves 18,914,591 + 4io,6oo - 440,010 U. S. Treasurer--general account 567,155 + 208,791 + 93,378 Foreign 275,442 + 2,957 - 66,890 Other 333,406 - 57,445 + 162,095 Total deposits 20,090,59% + 564,903 - 251,427 Deferred availability cash items . 4,039,737 - 295,389 + 318,838 Other liabilities and accrued dividends 21,368 • . 315 + 8,039 TOTAL LIABILITIES 51,820,(559 +65,526 + 450,244 C A P I T AL A C C O U N TS Capital paid in 366,304 3,206 sfl20 ,195 Surplus 868,410 31,669 Other capital accounts 119,078 5,428 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.171.841 + 504,680 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.8$ 4.6* Contingent liability on acceptances purchased for foreign correspondents 66,513 1,286 . 22,347 Industrial loan commitments 975 126 l/ No accrued dividends December 31, 1958. 2/ Net change after elimination of Sec. 13b surplus of $27,5 43,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 7, 1959 (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 762,857 213 14,021 602,300 16 days to 90 days 19,338 18 29,552 6,928,243 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 FRASER http://fraser.s T tlo o u t is a fe l d. org/ 782,195 335 537573 26,041,112 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 7, 1959 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louie apolis City Francisco A S S E TS (In thousands of dollars) Gold certificate account 19,007,892 901,741 4,894,541 1061,668 1533,463 1076,121 925,190 1399,236 768,318 467,145 792,480 728,112 2459,877 Redemption fund for F. R. notes 942,796 55,669 198,389 60,193 87,747 85,786 57,030 172,623 44,658 22,463 43,527 29,838 84,873 Total gold certificate reserves 19,950,688 957,410 5,092,930 1121,861 1621,210 1161,907 982,220 3571,859 812,976 489,608 836,007 757,950 2544,750 F.R. notes of other Banks 568,591 49,444 111,460 52,230 40,726 63,776 66,485 49,195 24,944 16,972 8,702 34,404 50,253 Other cash 371,498 23,327 66,671 18,969 32,239 24,926 27,903 63,199 27,185 9,124 14,593 16,573 46,789 Discounts and advances 782,195 12,399 307,799 10,621 132,662 42,220 46,656 116,459 11,937 6,430 32,176 34,781 28,055 Industrial loans 336 327 9 Acceptances: Bought outright 43,288 43,288 Held under rep. agree. 285 285 U. S. Govt, securities: Bought outright-- Bills 2,003,050 109,062 505,105 115,143 177,320 130,383 101,921 349,892 81,713 42,138 85.497 78,461 226,415 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 26,004,112 1415,872 6,557,405 1494,820 2302,014 1692,660 1323,167 4542,398 1060,812 547,048 1109,934 1018,607 2939,375 Held under rep. agree. 37,000 • 37,000 Total U, S. Govt, sees. 26,041,112 1415,872 6,594,405 1494,820 2302,014 1692,660 1323,167 4542,398 1060,812 547,048 1109,934 1018,607 2939,375 Total loans & securities 26,867,216 1369,823 1053,388 2967,430 1428,598 6,945,777 1505,441 2434,676 1734,880 4658,857 1072,749 553,487 1142,110 Due from foreign tanks * /5 1 l/4 1 1 1 1 2 1 2/ 1 1 j Uncollected cash items 5,161,612 369,454 1,016,845 312,227 441,829 410,004 434,106 775,860 236,821 l4l,34l 245,750 243,206 534,169 Bank premises 93,640 4,705 10,313 4,245 9,432 6,654 9,301 11,824 6,862 5,204 4,785 7,786 12,529 Other assets 160,581 8,720 39,461 8,968 13,921 10,340 . 9.167 27.65? 6.734 3.374 7.768 6.438 18.037 TOTAL ASSETS 53,173,841 2841,659 13,283,461 3023,942 4594,034 3412,488 2899,006 9158,449 2188,272 1219,110 2259,716 2119,746 6173,958 l/ 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 OH VJ ANUARY 7, 1959 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisci L I A B I L I T I ES Federal Reserve notes 27,668,350 1620,261 6,447,262 1737,624 2559,954 2121,645 1457,429 5271,588 1231,502 596,890 1093,786 794,523 2735,886 Deposits: Member tank reserves 18,914,591 763,101 5,323,059 903,084 1480,002 831,947 953,637 2950,940 683,987 432,776 862,754 1003,377 2725,927 41,021 90,314 30,860 59,842 47,814 40,431 76,250 26,638 24,415 49,000 40,740 39,83c IT-S.Treas.-gen.acct. 567,155 Foreign 275,442 14,850 1/ 81,042 17,820 24,300 13,500 12,690 39,960 9,990 6,480 10,530 14,040 30,24c 1,019 ~ 282,628 1,506 1,698 1,202 36,891 Other 333,406 1)072 3,797 1,305 532 381 1,369 Total deposits 20,090,594 819,991 5,777,043 953,270 1565,216 897,058 1008,063 3067,682 722,313 4b4,u>z 923,406 y«j6"^8357S9i Deferred availability 322,966 617,062 cash items 4,039/737 323,645 683,446 241,807 344,278 367,571 180,998 123,674 187,519 194,660 452,113 Other liabilities and accrued dividends 21,368 1,098 5,420 1,093 2,017 1,254 1,079 3,756 811 889 927 758 2,26( TOTAL LIABILITIES 51,820,049 2764,'995 12,913,171 2933,794 4471,465 3342,923 2834,142 8960,088 2135,624 1185,505 2205,718 2049,467 6023,157 CAPITAL ACCOUNTS Capital paid in 366,304 18,156 105*901 21,936 35,099 16,391 18,468 49,912 12,369 8,398 14,920 20,958 43,796 Surplus 868,410 50,116 238,902 59,607 76,643 44,846 39,474 132,159 33,746 20,785 32,935 43,436 959.57,6716 1 Other capital accounts 119,078 8,392 25.487 8,605 10.827 8.328 6,922 16,290 6,533 4,422 6,143 5,885 11,244 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 53,173,841 2841,659 13,283,461 3023,942 4594,034 3412,488 2899,006 9158,449 2188,272 1219,110 2259,716 2119,746 6173,956 Coating, liab. on acceptances purchased for foreign correspondents 66,513 3,657 2/18,633 4,389 5,985 3,325 3,125 9,842 2,461 1,596 2,594 3,458 7,446 industrial loan commit. v7"5 — — — — — — —«" •• — — — — y*<|-U ™ FEDERAL RESERVE AGENTS' ACCOUNTS 1009,759 FF.. RR.. nnootteess oouuttssttaannddiinngg 20,943,700 1690,796 6,807,163 2633,439 2215,604 1549,489 5453,726 1290,965 612,723 1133,193 044,749 2894,102 CCoollllaatt.. ffoorr FF.. RR.. nnootteess;; GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,950,000 650,000 2,920,000 640,000 920,000 725,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,C0C 11,275 — — -~ EElliiggiibblleeppaappeerr 52,193 —— 9,440 —— —— -- — 31,478 1150,000 4,000,000 1200,000 1750,000 1530,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,00c UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,715,000 TToottaall ccoollllaatteerraall 29,717,193 1800,000 6,920,000 1849,440 2670,000 2255,000 1575,000 5600,000 1376,275 625,000 1181,478 865,000 3000,00( 2/ After deducting $47,880,0001 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis