H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERA LRESERVE SYSTEM January 29, 1959 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member han kreserves for the week ended January 28 increased $48 million to $18,817 million .Estimated required reserves increased $l8l million; and estimated excess reserves decreased $133 millio nto $369 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $120 million; the week before the ywere $64 million less than excess reserves. The principal changes supplying average reserves were an increase of $51 million in member ban kborrowings and decreases of $235 millio nin money in circulation, $59 million in foreign deposits with Federal Reserve Banks, and $30 million in "other" deposit swith Federa lReserve Banks. The principal offsetting changes were decreases of $109 millio nin U. S. Government securities bought outright and $214 million in Federal Reserve float. Total Reserve Bank credit decreased $274 million. As of Wednesday, January 28, holdings of U. S. Government securities bought outright were $94 million lower than a week earlie rand member bank borrowings were $71 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Jan. 28, Jan. 21, 1 Jan. 29, Jan. 28, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 25,471 -109 +2,136 2255,,443388 Held under repurchase agreement -- - 37 -- Acceptances-- Bought outright 4411 - 2 3377 -- Held under repurchase agreement 4 -- -- - -- Loans, discounts, an dadvances— Member bank borrowings 489 + 51 + 194 477 Other 19 - - + 18 19 Float 1,074 -214 + 155 806 Total Reserve Bank credit 27,094 -27% +2,462 26,776 Gold stock 20,515 -2,268 20,516 Treasury currency outstanding 5,235 + 1 + 84 5,235 52,844 -272 + 279 52,527 Money in circulation 31,150 -235 + 525 31,056 Treasury cash holdings 714 + 2 - 75 718 Treasury deposits with F. R. Banks 404 + 3 - 117 487 Foreign deposits with F. R. Banks 298 - 59 + 23 320 Other deposits with F. R. Banks 343 - 30 + 68 340 OOtthheerr FF.. RR.. aaccccoouunntt ss((nneett)) 1,118 + 126 1,117 - - 34,027 -320 + 551 34,038 Member bank reserves— 18,817 + 48 272 18,489 Required reserves (estimated) 18,448 +181 61 18,433 - Excess reserves (estimated) 369 -133 - 211 56 On January 28, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,671 million, an increase of $86 million for the week and a decrease of $96 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4*l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Jan. 28, Jan. 21, Jan. 29, 1959 1959 1958 A S S E TS 18,997,893 1 -2,247,499 Gold certificate account 934,414 6,059 + 75,703 Redemption fund for F. R. notes 19,932,307 6,058 -2,171,796 Total gold certificate reserves 677,041 + 4,511 + 315 F. R. notes of other Banks 490,198 + 22,029 - 37,662 Other cash 495,464 + 71,329 + 242,543 Discounts and advances 206 335 Industrial loans Acceptances: 36,632 3,444 3,206 Bought outright 3,000 Held under repurchase agreement U. S. Government securities: Bought outright-- 1,437,150 94,000 + 815,377 Bills 18,649,726 -1,283,886 Certificates 2,867,565 +2,867,565 Notes 2,483,771 - 317,979 Bonds Total bought outright 25,438,212 94,000 +2,081,077 3,000 Held under repurchase agreement Total U. S. Government securities 25,438,212 94,000 +2,078,077 Total loans and securities 25,970,643 26,115 +2,314,208 15 Due from foreign "banks 5,087,310 - 702,440 + 525,327 Uncollected cash items 94,219 157 + 9,960 Bank premises 197,630 + 12,698 - 90,445 Other assets 52,449,363 :~~%95,532 + 549,907 TOTAL ASSETS L I A B I L I T I ES 27,121,889 - 158,801 + 420,000 Federal Reserve notes Deposits: 18,489,248 - 400,127 - 488,237 Member bank reserves U. S. Treasurer—general account 487,154 + 141,902 - 23,994 320,319 - 12,918 + 63,283; Foreign 340,200 7,701 + 73,14% Other Total deposits 19,636,921 - 278,044 - 375,806 Deferred availability cash items 4,281,679 - 270,142 + 460,617 Other liabilities and accrued dividends 23,981 + 1*897 + 8,746 51,064,470 705,890 + 513,557 TOTAL LIABILITIES C A P I T AL A C C O U N TS 368,417 + 810 + 21,053 Capital paid in 868,410 l/+ 31,669 Surplus 148,066 + 9,548 " - 16,372 Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,449,363 - 695,532 + 549,9Q7 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 42.6$ .4# 4.7# Contingent liability on acceptances purchased 60,004 3,073 67,238 for foreign correspondents 960 105 Industrial loan commitments l/^Net^change%fteTelimination of Sec. 13*> surplus of $27,543,000 on Sept. 2, 195# MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 28, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.; U. S. Government Discounts and Industrial advances loans Acceptances securities Within 15 days 464,806 "* 212 13,699 354,690 16 days to 90 days 30,658 23 22,933 6,533,453 91 days to 1 year 42 13,198,733 Over 1 year to 5 years 58 3,881,179 Over 5 years to 10 years 206,495 1,263,662 Over 10 years Total 495,464 335 36,632 25,438,212 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

XI • \ v y I Phila- Cleve- St. Minne- Kansas San Total Boston New York | lphia land Richmond Atlanta J Chicago Louis apolis City Dallas Francisco de (In thousands of dollars) A S S E TS Gold certificate account 18,997,893 880,935 5,019,599 1041,306 1516,618 1055,901 933,814 3438,241 739,413 472,932 777,641 730,718 2390,775 RReeddeemmppttiioonn ffuunndd ffoorr FF.. RR.. nnootteess 934,414 55,199 196,422 59,470 87,054 83,582 56,601 171,877 44,403 22,243 43,368 29,700 84,495 TToottaall ggoolldd cceerrttiiffiiccaattee rreesseerrvveess 19,932,307 936,134 5,216,021 1100,776 1603,672 1139,483 990,415 3610,118 783,816 495,175 821,009 760,418 2475,270 F.R. notes of other Banks 677,041 56,757 143,411 50,907 47,975 76,080 81,824 58,197 23,569 19,308 11,908 46,088 61,017 Other cash 490,198 34,035 97,190 27,977 41,255 32,654 34,460 80,958 30,748 13,223 16,411 18,809 62,478 Discounts and advances 495,464 20,821 100,624 13,768 53,042 45,003 37,141 109,058 29,702 8,739 46,348 14,318 16,900 8 Industrial loans 335 327 Acceptances— Bought outright 36,632 36,632 U. S. Govt, securities: BBBooouuuggghhhttt ooouuutttrrriiiggghhhttt——— BBBiiillllllsss 1,437,150 78,250 362,403 82,613 127,224 93,547 73,127 251,041 58,627 30,234 61,342 56,294 162,448 CCCeeerrrtttiiifffiiicccaaattteeesss 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 NNNooottteeesss 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 BBBooonnndddsss Pd *4 8s3. 7I7 1J -135.236 626.127 142,777 219.876 161,674 126.182 433.865 101,323 52,251 106,015 97,292 280,753 TTToootttaaalll 25,438 , f 212 1385,060 6,414,703 1462,290 2251,918 1655,824 1294,37 34443,547 1037,726 535,144 1085,779 99b,440 20Y>,4UO HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennnttt TTToootttaaalll... TTTLLL SSS... GGGooovvvttt... ssseeeeeesss... 25.418.212 1385,060 6.414.703 1462.290 2251.918 1655.824 1294.37 34443.547 1037,726 515.144 1085.779 996.440 2875.408 X V V/ # # w w f w • w w Wr # 543,891 1132,127 1010,758 2892,308 Total loans & securities 25,970,643 1406,208 6,551,959 1476,058 2304,96 01700,827 1331,514 4552,60 51067,428 DDuuee ffrroomm ffoorreeiiggnn bbaannkkss 15 1 1/4 1 1 1 1 2 1 1 1 1 UUnnccoolllleecctteedd ccaasshh iitteemmss 5,087,310 357,551 967,218 324,400 452,585 389,076 432,396 773,328 209,738 134, g,/ 392 260,775 284,112 501,739 BBaannkk pprreemmiisseess 94,219 4,670 10,318 4,223 9,420 6,716 9,289 12,278 6,913 5,219 4,785 7,911 12,477 OOtthheerr aasssseettss 107.610 m_i09 49.171 10.951 17.672 12,707 10,873 34,536 8,130 4,097 9,199 7,966 21,925 * — rr r- • i r - 2805,755 13,035,294 2995,295 4477,540 3357,544 2890,77 29122,022 2130,343 1215,305 2256,215 2136,063 6027,215 TTOOTTAALL AASSSSEETTSS 52,449,363 1/ After deducting $11,000 participation sof other Federa lReserve Banks. Di2gi/tiz edL feors FsR AtShEaR n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JANUARY 28 ,1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,121,889 1585,131 6,319,170 1702,669 2508,646 2075,368 1435,640 5189,710 1208,858 588,029 1075,046 780,274 2653,348 Deposits: Member "bank reserves 18,489,248 760,493 5,145,171 880,319 1399,296 820,746 959,252 2955,373 661,916 441,072 854,236 985,543 2625,831 U.S.Treas.-gen.acct. 487,154 28,197 45,909 34,5^6 36,495 41,230 29,485 62,214 34,253 26,975 44,504 32,017 71,329 Foreign 320,319 16,390 1/105,759 19,668 26,820 14,900 l4,oo6 44,io4 11,026 7,152 11,622 15,496 33,376 Other 340,200 385 ~ 290,697 1,553 1,076 2,872 995 46l 1,105 778 1,545 1,462 37,271 Total deposits 19,636,921 805,465 5,587,536 936,086 1463,687 879,748 1003,738 3062,152 708,300 475,977 911,907 1034,518 2767,807 Deferred availability cash items 4,281,679 335,847 744,525 263,503 377,322 329,575 383,981 661,993 158,469 116,164 212,938 248,671 448,691 Other liabilities and accrued dividends 23,981 1,104 6,025 1,120 2,514 1,272 1,058 3,761 879 993 992 1,020 3,243 TOTAL LIABILITIES 51,064,470 2727,547 12,657,256 2903,378 4352,169 3285,963 2824,417 8917,616 2076,506 1181,163 2200,883 2064,483 5873,089 CAPITAL ACCOUNTS "Capital paid in 368,417 18,287 105,985 22,038 35,205 16,550 18,647 50,568 12,466 8,452 15,071 21,218 43,930 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 95,76l Other capital accounts 148.066 9,805 33,151 10.272 13.523 10.185 8.234 21.679 7.625 4.905 7,326 6.926 14,435 TOTAL LIABILITIES AND CAPITAL ACQOUNTS 52,449,363 2805,755 13,035,294 2995,295 4477,540 3357,544 2890,772 9122,022 2130,343 1215,305 2256,215 2136,063 6027,215_ Conting. Hah. on acceptances purchased for foreign correspondents 60,004 3,305 2/16,732 3,967 5,409 3,005 2,825 8,895 2,224 1,442 2,344 3,125 6,731 Industrial loan commit. 960 20 — — 940 — — — — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,54o,4l8 1682,715 6,709,064 1782,450 2596,506 2178,323 1527,916 5385,773 1268,300 607,315 1117,684 833,248 2851,124 Collat. for F. R. notes: 200,000 300,000 290,000 1300,000 Gold certificate acct. 10,925,000 650,000 2,920,000 640,000 920,000 700,000 475,000 2100,000 430,000 Eligible paper • 87,219 — - - 12,560 -- -- - - -- 29,025 -- 45,634 -- — U. S, Govt, securities 18.715.000 1150.000 4.000.000 1200.000 1750.000 1510.000 1100.000 3500,00 0935,000 42^,000 850,000 575,000 1700,000 Total collateral 29,727,219 1800,000 6,920,000 1852,560 2670,000 2230,000 1575,000 5600,000 1394,025 625,000 1195,634 865,000 3000,000 l/ After deducting $214,560,000 participations of other Federa lReserve Banks. Di2gi/tiz edA ffort FeRrA SdEeRd ucting $43,272,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis