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 15, 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 ended January 14 decreased $230 million to $18,901 million. Estimated required reserves decreased $244 million; and estimated excess reserves increased $14 million to $589 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $124 million, compared with $51 million the week before. The principal changes reducing average reserves were decreases of $262 million in Federal Reserve holdings of U. S. Government securities and $390 million in Federal Reserve float. The principal offsetting changes were decreases of $298 million in money in circulation and $56 million in Treasury deposits with Federal Reserve Banks, and an increase of $87 million in member bank borrowings. Total Reserve Bank credit decreased $5&7 million. As of Wednesday, January 14, holdings of U. S. Government securities bought outright were $189 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $49 million higher, and member bank borrowings were $259 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, January 14, January 7, 1 January 15, Jan. 14, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,817 -273 +2,236 25,815 Held under repurchase agreement 105 + 11 - 34 86 Acceptances-- Bought outright 44 + 1 + 2 43 Held under repurchase agreement 1 - 2 6 1 Loans, discounts, and advances-- Member bank borrowings 713 + 87 + 138 505 Other 18 — *" + 12 18 Float 1,011 -390 - 28 939 Total Reserve Bank credit 27,708 -567 +2,318 27,408 Gold stock 20,526 - 8 -2,255 20,515 Treasury currency outstanding 5,234 «. MP + 87 5,234 53,468 -575 + 150 53,156 Money in circulation 31,710 -298 + 503 31,524 Treasury cash holdings 704 + 3 - 67 709 Treasury deposits with F. R. Banks 390 - 56 - 113 425 Foreign deposits with F. R. Banks 297 + 18 9 304 Other deposits with F. R. Banks 345 - 11 + 155 360 1,121 - 1 + 127 1,121 Other F. R. accounts (net) 34,567 -3^5 + 597 34,443 Member bank reserves- 18,901 -230 - 447 Required reserves (estimated) 18,312 -244 - 457 Excess reserves (estimated) 58 9 + 14 + 10 On January 14, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,615 million, a decrease of $105 million for the week and a decrease of $165 million from the comparable Digitizedda fotre F RaA SyERe ar ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDfitiAL JRESSRVS,BANKS COMBINED (In thousand^ tit dollars) Change since it, Jan. 7, Jan. 15, 1959 1959 1958 A S S E TS Gold certificate account 18,987,891 20,001 -2,242,502 Redemption fund for F. R. notes 940,473 2,,323 + 78,064 Total gold certificate reserves 19,928,364 22,32? F. R. notes of other Banks 629,217 + 60,626 + 1,857 Other cash 423.843 + 52,345 - 33,501 Discounts and advances 522.844 259,351 + 237,996 Industrial loans 336 205 Acceptances: Bought outright 43,290 + 2 + 1,468 Held under repurchase agreement 1,148 + 863 1,469 U. S. Government securities: Bought outright-- Bills 1,814,050 189,000 + 992,577 -1,283,886 Certificates 18,649,726 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 317,979 Total bought outright 25,815,112 189,000 +2,258,277 Held under repurchase agreement 86,200 49,200 65,300 Total U, S. Government securities 25,901,312 - 139,800 +2,192,977 Total loans and securities 26,468,930 - 398,286 +2,430,767 Due from foreign banks 15 Uncollected cash items 5,816,462 + 654,850 + 141,394 Bank premises 93,794 + 154 + 9,697 Other assets 173,404 +_ 12,823 85,395 TOTAL ASSETS 53,534,029 + ISoTlBB 300,381 L I A B I L I T I ES Federal Reserve notes 27,466,628 201,722 + 418,315 Deposits: Member tank reserves 18,712,909 201,682 559,932 U. S. Treasurer--general account 425,043 142,112 99,997 Foreign 303,774 + 28,332 + 24,672 Other 359,925 + 26,519 + 172,948 Total deposits 19,801,651 288,943 - "462,309 Deferred availability cash items 4,877,798 + 838,061 + 291,653 Other liabilities and accrued dividends 23,882 + 2,514 + 9,895 TOTAL LIABILITIES 52,169,959 + 349,910 + 257,554 C A P I T AL A C C O U N TS Capital paid in 366,726 + 422 + 20,259 Surplus 868,410 1/+ 31,669 Other capital accounts 128,934 + 9,856 - 9,101 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 537534,029 + 360,188 + 300,301 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.2# 4.5# Contingent liability on acceptances purchased for foreign correspondents 65,078 1,435 38,800 IianadUu5sTt>rriiaali lxuoaaxni cuoummmmxiotjmmecnmt/sP . ™-n 960 15 120 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1950* MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 14, 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 504,426 213 22,048 498,500 16 days to 90 days 18,418 18 22,390 6,892,243 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 1.263,662 Over 10 years W Total 522,844 44,436 25,"901,312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 14. 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphla land Louis apolis City Francisco A S S E TS Gold certificate account 18,987,891 874,196 5,054,368 1055,103 1489,654 1058,674 910,123 3368,057 758,014 460,748 795,244 692,401 2471,309 Redemption fund for 55,573 197,613 60,062 87,642 84,922 56,970 172,508 44,602 22,453 43,503 29,813 84,812 F. R. notes 940,473 Total gold certificate reserves 19,928,364 929,769 5,251,981 1115,165 1577,296 1143,596 967,093 3540,565 802,616 483,201 838,747 722,214 2556,121 F.R. notes of other Banks 629,217 51,753 131,113 55,808 41,260 71,025 71,056 56,564 24,997 17,325 11,999 38,572 57,745 Other cash 423.843 27,809 80,849 22,358 36,962 28,783 31,040 71,118 29,285 10,400 16,012 17,134 52,093 Discounts and advances 522.844 23,460 112,069 9,991 147,502 16,775 35,081 90,249 14,922 7,080 46,879 10,881 7,955 Industrial loans 336 327 9 Acceptances: Bought outright 43,290 43,290 Held under rep. agree. 1,148 1,148 U. S. Govt, securities: Bought outright— Bills 1,814,050 98,771 457,445 104,279 160,589 118,080 92,304 316,878 74,003 38,163 77,429 71,058 205,051 Certificates 18,649,726 1015,440 4,702,864 1072,061 1650,9671 213,948 948,954 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 —161,6,7—4 126 , r 3 r 8 2. 4,33,865 101,323 52,25 1, 106, 0 ; 1.5. . .9 7_,_2 92 280,753 Total 25,015,112 1405,581 6,509,745 1483,956 2285,283 1680,357 1313,550 4509,304 1053,102 543,073 1101,866 1011,204 2918,011 86,200 86,200 Held under rep. agree. Total U. S. Govt, sees. 25,901,312 1405,581 6,595,945 1483,956 2285,283 1680,357 1313,550 4509,384 1053,102 543,073 1101,866 1011,204 2918,011 1429,368 6,752,452 1493,947 2432,785 1697,132 1348,631 4599,633 1068,024 550,162 1148,745 1022,085 2925,966 Total loans & securities 26,468,930 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,816,462 404,809 1,078,290 366,674 523,768 477,076 520,070 912,766 255,283 170,138 279,931 275,920 551,737 Bank premises 93,794 4,705 10,317 4,245 9,420 6,758 9,302 11,824 6,915 5,208 4,785 7,786 12,529 11,218 9,724 29,718 7,167 3,631 8,300 6,926 19,465 Other assets 173,404 9,215 43,258 9,629 15,153 2857,429 13,348,264 3067,827 4636,645 3435,589 2956,917 9222,190 2194,288 1240,065 2308,520 2090,638 6175,657 TOTAL ASSETS 53,534,029 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

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY _l4j 1959 Cleve- Minne- Kansas I San ~ Total Boston New York "lSaTnd 1uicnmona ah-luh. | vClhiijc ago 1 apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES 1607,510 6,389,563 1728,467 2540,795 2105,413 1444,511 5239,608 1223,273 594,568 1090,875 788,912 2713,133 Federal Reserve notes '27,466,628 Deposits: 762,515 5,309,846 898,885 1457,860 800,249 944,836 2899,959 681,606 442,568 874,332 941,534 2698,719 Member bank reserves 18,712,909 20,661 48,203 26,094 46,363 U»S.Treas.-gen.acct. 425,043 19,991 44,567 21,842 41,988 43,989 39,999 52,802 18,544 15,840 1/96,4i4 19,008 25,920 14,400 13,536 42,624 10,656 6,912 11,232 14,976 32,256 Foreign 303,774 380 299,050 2,782 4,294 3,956 1,736 1,585 765 375 2,208 1,665 41,129 Other 359,925 Total deposits 19,001,651 '798,726 5,749,877 942,517 1530,062 262,594 1000,107 2996,970 711,571 470,516 935,975 984,26$ 2816,467 Deferred availability 372,828 829,256 304,937 440,076 396,012 445,876 781,329 205,518 140,254 226,227 245,942 489,543 cash items 4,877,798 Other liabilities and 23,882 1,190 6,608 1,175 2,169 1,353 1,022 4,056 877 949 990 853 2,64o accrued dividends 2780,2$% 12,975,304 2977,096 4513,102 3365,372 2891,516 9021,963 2l4l,239 1206,287 2254,067 2019,976 6023,783 TOTAL LIABILITIES 52,169,959 CAPITAL ACCOUNTS Capital paid in 366,726 18,188 105,927 21,961 35,162 16,420 18,547 49,955 12,395 8,408 14,961 20,983 43,819 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 128,934 8,871 28,131 9,163 11,738 8,951 7,380 18.113 6,908 4,585 6.557 6,243 12,294 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,534.029 2857,429 13,348,264 3067,827 4636,645 3435,589 2956.917 9222,190 2194,288 1240,065 2308,520 2090.638 6175,65] Conting. liab. on acceptances purchased for foreign correspondents 65,078 3,580 2/18,206 4,297 5,859 3,255 3,060 9,635 2,409 1,562 2,539 3,385 7,291 960 20 940 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS 1693,329 6,774,040 1800,913 2621,747 2202,219 1544,566 5433,04i 1283,405 611,975 1128,754 842,965 2883,054 F. R. notes outstanding 28,820,008 Collat. for F. R. notes: Gold certificate acct. 10,950,000 650,000 2,920,000 64a,000 920,000 725,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000 —— — — 8,810 —— — —— —— 14,260 —- 46,181 — —- Eligible paper 69,251 U. S. Govt, securities 18,715,000 1150,000 4,000,000 1200,000 1750,000 1530,000 1100,000 3500,000 935.000 425,000 850.000 575.000 1700.000 Total collateral 29,734,251 1800,000 6,920,000 1848,810 2670,000 2255,000 1575,000 5600,000 1379,260 625,000 1196,181 865,000 3000,000 l/ After deducting $207,360,000 participations of other Federal Reserve Banks, 2/ After deducting $46,872,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis