H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD di GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 22, 1959 WEEKLY AVERAGES OF MEMBER BAM 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 21 decreased $132 million to $18,769 million. Estimated required reserves decreased $74 million; and estimated excess reserves decreased $58 million to $506 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $68 million; the week before they were $149 million less than member bank borrowings. The principal changes reducing average reserves were decreases of $237 million in U. S. Government securities bought outright and $105 million held under repurchase agreement, and $275 million in member bank borrowings, and increases of $60 million in foreign deposits with Federal Reserve Banks and $28 million in "other" deposits with Federal Reserve Banks, The principal offsetting changes were a decrease of $325 million in money in circulation and an increase of $277 million in Federal Reserve float. Total Reserve Bank credit decreased $340 million. As of Wednesday, January 21, holdings of U. S. Government securities bought outright were $283 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $86 million lower, and member bank borrowings were $99 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 21, Jan. 14, Jan. 22, J an. 21, and related items 1959 1959 1958 1959 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,580 -237 +2,314 25,532 Held under repurchase agreement — -105 - 49 Acceptances-- Bought outright 43 - 1 + 2 40 Held under repurchase agreement - 1 3 Loans, discounts, and advances— Member bank borrowings 438 -275 + 83 406 Other 19 + 1 + 14 19 Float 1,288 +277 + 58 1,238 Total Reserve Bank credit 27,355 -34O +2,419 27,235 Gold stock 20,515 - 11 -2,267 20,515 Treasury currency outstanding -5,234 wm tm + 85 5,234 53,116 -352 + 236 52,984 Money in circulation 31,385 -325 + 507 31,237 Treasury cash holdings 712 + 8 69 714 Treasury deposits with F. R. Banks 401 + 11 - 110 345 Foreign deposits with F. R. Banks 357 + 60 + 82 333 Other deposits with F. R. Banks 373 + 28 + 146 348 Other F. R. accounts (net) 1,118 - 3 + 126 1417 34,347 -220 + 683 34,094 Member bank reserves— 18,769 -132 - 447 18,889 Required reserves (estimated) 18,263 18,227 Excess reserves (estimated) 506 - 58 86 662 On January 21, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,585 million, a decrease of $30 million for the week end a decrease of $213 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 Jan. 21, Jan. 14, Jan. 22, 1959 1959 1958 A S S E TS Gold certificate account 18,997,892 + 10,001 -2,232,500 Redemption fund for F. R. notes 940,473 -- + 79,982 Total gold certificate reserves 19,938,365 + 10,001 -2,152,516 F. R. notes of other Banks 672,530 + 43,313 1,968 Other cash 468,169 + 44,326 - 36,038 Discounts and advances 424,135 - 98,709 + 32,301 Industrial loans 335 - 1 213 Acceptances: Bought outright 40,076 3,214 + 1,243 Held under repurchase agreement - 1,148 - 13,218 U. S. Government securities: Bought outright— Bills 1,531,150 282,900 +1,009,077 Certificates 18,649,726 -- -1,283,886 Notes 2,867,565 — +2,867,565 Bonds 2,483,771 - — - 317,979 Total bought outright 25,532,212 - 282,900 +2,274,777 Held under repurchase agreement - 86,20a - 76,000 Total U, S. Government securities 25,532,212 - 369,100 +2,196,777 Total loans and securities 25,996,758 - 472,172 +2,218,890 Due from foreign tanks 15 -- — Uncollected cash items 5,789,750 - 26,712 + 402,803 Bank premises 94,376 + 582 + 10,160 Other assets 184,932 + 11,528 - 87,588 TOTAL ASSETS 53,144,895 - 389,134 + 353,741 L I A B I L I T I ES Federal Reserve notel? 27,280,690 - 185,938 + 425,140 Deposits: Member bank reserves 18,889,375 + 176,466 - 446,647 U. S. Treasurer--general account 345,252 - 79,791 - 109,077 Foreign 333,237 + 29,463 + 39,157 Other 347,901 - 12,024 + 144,035 Total deposits 19,915,765 + 114,114 - 372,532 Deferred availability cash items 4,551,821 - 325,977 + 253,139 Other liabilities and accrued dividends 22,084 - 1,798 + 8,348 TOTAL LIABILITIES 51,770,360 - 399,599 + 314,095 C A P I T AL A C C O U N TS Capital paid-in ~ ~ ~ 367,607 + 881 + 20,783 Surplus 868,410 - — 1/+ 31,669 Other capital accounts 138,518 + 9,584 ' - 12,806 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,144,895 - 389,134 + 353,741 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.2$ 4.7# -*• Contingent liability on acceptances purchased for foreign correspondents 63,077 - 2,001 - 51,392 Industrial loan commitments 960 103 ,5^3,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 21, 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 404,307 212 21,383 504,590 16 days to 90 days 19,748 23 18,693 6,516,753 91 days to 1 year 42 13,159,233 Over 1 year to 5 years 58 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Digitized foTr FoRtAaSlE R 424,135 335 S07075 25,532,212 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BARK ON JANUARY 21, 1959 Phila- Cleve St. Minne- Kansas San Total Boston I New York delphia land Richmond Atlanta Chicago Louis apolis City DDaallllaass Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,997,892 862,147 5,215,399 1021,837 1533,575 1007,374 951,168 3282,800 744,585 456,881 811,571 711,411 2399,144 Redemption fund for F. R. notes 940,473 55,573 197,613 60,062 87,642 84,922 56,970 172,508 44,602 22,453 43,503 29,813 84,812 Total gold certificate reserves 19,938,365 917,720 5,413,012 1081,899 1621,217 1092,296 1008,138 3455,308 789,187 479,334 855,074 741,224 2483,956 F.R. notes of other Banks 672,530 58,036 143,822 54,938 45,544 74,728 77,333 59,410 25,620 18,637 10,096 43,091 61,275 Other cash 468,169 32,387 96,092 25,456 39,420 30,578 33,267 76,315 29,961 11,788 16,275 18,122 58,508 Discounts and advances 424,135 10,772 59,074 10,383 90,437 23,790 19,241 112,088 15,277 2,789 28,691 28,643 22,950 Industrial loans 335 327 9 Acceptances-- Bought outright 40,076 40,076 — — -- -- — — -- -- - - U* S. Govt, securities: Bought outright— Bills 1,531,150 83,368 386,107 88,017 135,545 99,666 77,909 267,461 62,462 32,211 65,354 59,976 173,074 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 25,532,212 1390,178 6,438,407 1467,694 2260,239 1661,943 1299,155 4459,967 1041,561 537,121 1089,791 1000,122 2886,034 Held under repurchase agreement Total U. S. Govt, sees. 25.532.212 1190.178 6.438.407 1467.694 2260.239 1661.943 1299.155 4459.967 1041,561 537.121 1089,791 1000.122 2886,034 Total loans & securities 25,996,758 1401,277 6,537,557 1478,077 2350,676 1685,733 1318,396 4572,055 1056,838 539,918 1118,482 1028,765 2908,984 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,789,750 462,156 1,1547223 362,694 506,078 414,320 469,797 919,484 238,054 150,759 283,903 277,848 550,434 Bank premises 94,376 4,705 10,317 4,245 9,420 6,751 9,302 12,314 6,915 5,208 4,785 7,911 12,503 Other assets 184.932 9.876 45.832 10.227 16.367 11.844 10,314 32.035 7,618 3.861 8,717 L^44 20,697 TOTAL ASSETS 53,144,895 2886,158 13,400,859 3017,537 4588,723 3316,251 2926,548 9126,923 2154,194 1209,505 2297,333 2124,506 6096,358 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

B.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JKKUKRY 21, 1959 Total Bctoa | New York |Bl=hmna Atlanta Chicago Delia. LLL III AAA BBB III LLL III TTT III EEESSS : (In thousands of dollars) , - . FFFeeedddeeerrraaalll RRReeessseeerrrvvveee nnnooottteeesss 27,280,690 1594,817 6,347,833 1716,910 2523,433 2091,040 1444,342 5210,800 1215,993 591,053 1082,733 783,224 2678,512 DDDeeepppooosssiiitttsss::: MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss 18,889,375 798,989 5,402,469 886,476 1491,587 783,255 953,969 2921,890 678,625 428,596 899,632 997,076 2646,811 UUU...SSS...TTTrrreeeaaasss...---gggeeennn...aaaccccccttt... 345,252 15,516 61,784 15,017 18,208 24,617 33,860 20,292 30,369 19,164 42,475 14,554 49,396 FFFooorrreeeiiigggnnn 333,237 18,040 1/97,077 21,648 29,520 16,400 15,4l6 48,544 12,136 7,872 12,792 17,056 36,736 OOOttthhheeerrr 347,901 670 286,091 2,6l6 4,680 4,205 1,529 1,990 842 545 1,595 1,600 41,538 TTToootttaaalll dddeeepppooosssiiitttsss 19,915,765 833,215 5,847,421 925,757 1543,995 828,477 1004,774 2992,716 721,972 456,177 956,494 1030,286 2774,481 DDDeeefffeeerrrrrreeeddd aaavvvaaaiiilllaaabbbiiillliiitttyyy cccaaassshhh iiittteeemmmsss 4,551,821 379,306 824,643 282,472 394,635 324,686 410,519 717,276 162,075 127,365 202,394 238,863 487,587 OOOttthhheeerrr llliiiaaabbbiiillliiitttiiieeesss aaannnddd aaaccccccrrruuueeeddd dddiiivvviiidddeeennndddsss 22,084 1,111 5,450 1,081 2,213 1,159 1,071 3,t4l 738 951 836 941 2,792 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 51,770,3601[ 2808,449 13,025,347 2926,220 4464,276 3245,362 2860,706 8924,533 2100,778 1175,546 2242,457 2053,3l4 5943,372 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 367,607 18,255 105,961 21,994 35,170 16,476 18,559 50,319 12,409 8,437 14,997 21,169 43,861 SSSuuurrrpppllluuusss 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 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 138,518 9,338 30,649 9,716 12,634 9,567 7,809 19,912 7,261 4,737 6,944 6,587 13,364 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 53,144,895 2886,158 13,400,859 3017,537 4588,723 3316,251 2926,548 9126,923 2154,194 1209,505 2297,333 2124,506 6096,358 CCoonnttiinngg.. lliiaabb.. oonn aacccceepptt-aanncceess ppuurrcchhaasseedd ffoorr ffoorreeiiggnn ccoorrrreessppoonnddeennttss 63,077 ; 3,470 2/17,645 4,165 5,679 3,155 2,966 9,339 2,335 1,514 2,46i 3,281 7,067 IInndduussttrriiaall llooaann ccoommmmiitt.. 960! -- 20 -- " -- -- 940 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,675,982 1689,866 6,737,106 1791,283 2608,264 2193,003 1536,403 5407,368 1275,526 609,134 1121,306 837,631 2869,092 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 1300,000 EElliiggiibbllee ppaappeerr 51,752! 9,175 — — — — 14,600 — 27,977 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,715,000]1 150,000 4,000,000 1200,000 1750,000 1530,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,000 TToottaall ccoollllaatteerraall 29,716,752/1800,000 6,920,000 1849,175 2670,000 2255,000 1575^000 5600,000 1379,600 625,000 1177,977 865,000 3000,000 l/ After deducting $236,l60j000 participations of other Federal Reserve Banks, 2/ After deducting $45,432^000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis