H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release E.4.1 OF THE FEDERAL RESERVE SYSTEM February 5, 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 February 4 decreased $68 million to $18,749 million. Estimated required reserves decreased $46 million; and estimated excess reserves decreased $22 million to $353 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $62 million, compared with $114 million the week before. The principal changes reducing average reserves were decreases of $128 million in Federal Reserve float, $74 million in member bank borrowings, and $39 million in gold stock, and an increase of $38 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $121 million in U. S. Government securities bought outright and $81 million held under repurchase agreement, and a decrease of $29 million in money in circulation. Total Reserve Bank credit decreased $2 million. As of Wednesday, February 4, holdings of U. S. Government securities bought outright were $160 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $64 million higher, and member bank borrowings were $87 million lower. NOTE: Because February 12 (Lincoln's birthday) is a holiday at several Reserve Banks, next week's statement will be issued on Friday, February 13• Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Feb. 4, Jan. 2b, I Feb. 5, Feb. 4, and related items WW 1959 I 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,592 +121 +2,271 25,599 Held under repurchase agreement 81 + 81 + 38 63 Acceptances--bought outright 39 - 2 2 37 Loans, discounts, and advances-- Member bank borrowings 415 - 74 + 226 390 Other 19 + 18 19 Float 946 + 143 916 Total Reserve Bank credit 27,092 +2,695 27,024 Gold stock 20,476^ -2,307 20,476 Treasury currency outstanding 5,23* b + 81 5,236 52,803 + 467 52,736 Money in circulation 31,122^ + 542 31,100 Treasury cash holdings 722-"3 - 55 728 Treasury deposits with F. R. Banks 442 64 422 Foreign deposits with F. R. Banks 278 13 287 Other deposits with F. R. Banks 344 50 352 Other F. R. accounts (net) 1,146 100 1,185 34,055 "§B + 715 3V073 Member bank reserves— 68 - 248 18,662 TS Required reserves (estimated) - 102 18,403 Excess reserves (estimated) 353 22 - 146 259 On February 4, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,715 million, an increase of $44 million for the week and an increase of $69 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.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 4, Jan. 25", Feb. 5, : 1959 1959 1958 A S S E TS Gold certificate account 18,957,891 40,002 -2,287,502 934,106 308 + 76,913 Redemption fund for F» R. notes Total gold certificate reserves 19,891,997 "Wjsio -2,210,589 50,268 486 F. R. notes of other Banks 626,773 485,090 5,108 - 50,317 Other cash 408,382 87,082 + 255,321 Discounts and advances Industrial loans 335 177 Acceptances--bought outright 36,633 3,205 i U. S. Government securities: Bought outright— 1,597,550 160,400 +1,026,277 Bills 18,649,726 -1,283,886 Certificates 2,867,565 +2,867,565 Notes 2.483,771 - 317,979 Bonds Total bought outright 25,598,612 + 160,400 +2,291,977 Held under repurchase agreement 63,850 + 63,850 - 40,450 Total U. S. Government securities 25,662,462 + 224,250 +2,251,527 26,107,812 + 137,169 +2,503,466 Total loans and securities Due from foreign banks 15 Uncollected cash items 4,945,559 - 141,751 + 521,492 Bank premises 94,076 143 + 9,781 Other assets 141,928 - 35,702 30,726 TOTAL ASSETS 52.293,250 - 156,113 + 742,621 L I A B I L I T I ES 27,120,108 1,781 + 434,615 Federal Reserve notes Deposits: Member bank reserves 18,662,297 + 173,049 - 396,051 U. S. Treasurer—general account 421,564 - 65,590 + 214,908 Foreign 287,159 H - 33 I ,1 S 60 + 3,4O6 351,687 + 30,563 Other Total deposits 19,722,707 - 147,174 Deferred availability cash items 4,029,823 - 251,856 + 410,809; Other liabilities and accrued dividends 23,512 469 + 8,944 TOTAL LIABILITIES 50,896,150 - 168,320 + 707,194 C A P I T AL A C C O U N TS 370,898 + 2,481 + 23,118 Capital paid in 868,410 1/+ 31,669 Surplus 157,792 9,726 - , 19,360 Other capital accounts 52,293,250 - 156,113 + 742,621 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit 42.5# .1# 5-0f and F. R. note liabilities combined Contingent liability on acceptances purchased 57,048 2,956 71,35: for foreign correspondents 960 119 Iinndduussttrriiaall llooaann ccuommimui.t mweunctusu e - , Q w 0 10C 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 Sept. 2, 195p MATURITY DISTRIBUTION OF LOANS AM? SECURITIES. FEBRUARY 4, 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 388,265 221 12,202 6,044,133 16 days to 90 days 20,117 14 24,431 1,004,010 91 days to 1 year 42 13,262,933 Over 1 year to 5 years 58 3,881,179 206,495 Over 5 years to 10 years 1.263,662 Over 10 years Total 408,382 335 36,633 25^662,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 4, 1959 H.4.l(b) Total Boston New York P d h e i l l p a h - la Cl l e a v n e d - Richmond Atlanta {Chicago L S o t u . 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 (In thousands of dollars) A S S E TS Gold certificate account 18,957,891 900,202 4,889,787 1038,920 1557,393 1034,635 897,703 3456,356 748,055 465,096 778,518 759,110 2432,116 Redemption fund for F. R. notes 934,106 55,187 196,354 59,454 87,032 83,560 56,570 171,825 44,389 22,237 43,353 29,686 84,459 Total gold certificate 955,389 5,086,141 1098,374 1644,425 1118,195 954,273 3628,181 792,444 487,333 821,871 788,796 2516,575 reserves 19,891,997 F.R. notes of other Banks 626,773 51,792 142,318 39,477 46,683 68,704 83,016 52,706 20,683 17,547 8,125 38,285 57,437 Other cash 485,090 36,432 97,976 29,234 42,053 29,642 33,628 80,685 30,382 13,195 16,276 18,755 56,832 Discounts and advances 408,382 15,856 51,839 20,448 42,827 38,762 52,731 72,298 11,742 20,26 8 9 52,042 17,218 12,350 Industrial loans 335 327 Acceptances— Bought outright 36,633 36,633 JJ. S. Govt, securities: Bought outright— Bills 1,597,550 86,983 402,851 91,834 141,423 103,988 81,288 279,059 65,171 33,608 68,189 62,577 180,579 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 ^Certificates 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 Uotes 2,483,771 135,236 626,327 142,777 219,876 161,.6 7.4 . 112061,,338223 433,865 52,251 106,015 97,292 280,753 Bonds Total 25,590,612 1393,793 6,455,151 1471,511 2266,117 1666,265 1302,534 4471,5^5 1044,270 538,518 1092,626 1002,723 2893,539 Held under repurchase -agreement 63,850 63,850 1393,793 6,519,001 1471,511 2266.117 1666,265 1302,534 4471,565 1044,270 538,518 1092,626 1002,723 2893.,.539- Total U. S. Govt, sees. 25.662,462 Total loans & securities 26,107,812 1409,976 6,607,473 1491,959 2308,944 1705,027 1355,265 4543,863 1056,012 558,795 1144,668 1019,941 2905,889 1 2/ 1 11 Due from foreign banks 15 1 l/ 4 1 1 1 1 2 208,356 129,724 301,308 248,217 462,886 Uncollected cash items 4,945,559 360,503 9057828 321,978 440,982 364,741 410,090 790,946 Bank premises 94,076 4,670 10,278 4,223 9,386 6,716 9,289 12,265 6,893 5,219 4,771 7,889 12,477 5>927 2.962 6.873 5.640 15,647 Other assets 141,928 7,459 34,672 7.764 12.913 9,024 8,169 24,878 2826,222 12,884,690 2993,010 4505,387 3302,050 2853,731 9133,526 2120,698 1214,775 2303,893 2127,524 6027,744 TOTAL ASSETS 52,293,250 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2it/iz edL feors FsR AtShEaR n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

F.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 4, 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 27,120,108 1580,553 6,305,711 1692,586 2501,444 2075,540 1442,531 5184,038 1208,835 588,983 1079,907 778,733 2681,247 Deposits: Member "bank reserves 18,662,297 787,390 5,121,249 887,937 1456,170 814,020 949,803 3024,858 661,840 449,263 872,562 1003,343 2633,862 U. S- Treas .-gen. acc t. 421,564 45,317 17,094 27,010 33,881 30,949 31,703 50,499 22,030 22,300 35,157 40,791 64,833 Foreign 287,159 15,400 1/85,559 18,480 25,200 14,000 13,160 4i,44o 10,360 6,720 10,920 14,560 31,360 Other 151.687 295 "285.730 9.784 1.151 3,429 4,017. 878 _652_ 510 2.1Q6 1.780 41.058 Total deposits 19,722,707 848,402 5,509,632 943,211 1516,402 862,398 998,683 3117,675 694,889 478,793 921,035 1060,474 2771,113 Deferred availability cash items 4,029,823 317,351 681,190 263,493 358,551 290,589 344,519 621,260 161,906 111,605 246,128 215,600 417,631 Other liabilities and accrued dividends 23,512 1,196 5,890 1,224 2,647 1,283 1,182 3,967 825 1,069 942 833 2,454 TOTAL LIABILITIES 50,896,150 2747,502 12,502,423 2900,514 4379,044 3229,810 2786,915 8926,940 2066,455 1180,450 2248,012 2055,640 5872,445 CAPITAL ACCOUNTS Capital paid in 370,898 18,307 107,509 22,065 35,267 16,593 18,654 51,018 12,502 8,469 15,218 21,264 44,032 ' 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 157.792 10.297 15.856 10.824 14.433 10.801 8.688 23.409 7.995 5.071 7.728 7.184 15.506 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52.293.250 2826.222 12.884.690 2993.010 4505.387 3302.050 2853.731 9133.526 2120.698 1214.775 2303.893 2127.524 6027.744 Conting. liab. on acceptances purchased for foreign correspondents 57,048 3,135 2/16,008 3,762 5,130 2,850 2,679 8,436 2,109 1,368 2,223 2,964 6,384 "Industrial loan commit. you FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,421,341 1675,212 6,679,469 1776,894 2587,634 2168,011 1516,848 5365,797 1261,868 604,648 1110,790 832,743 2841,427 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,875,000 600,000 2,920,000 640,000 920,000 700,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 81,633 — — 19, 24O — — -- — -- 11,065 51,328 -- —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 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 TToottaall ccoollllaatteerraall 29,671,633 1750,000 6,920,000 1859,240 2670,000 2230,000 1575,000 5600,000 1376,065 625,000 1201,328 865,000 3000,000 of other Federal Reserve Banks, Dig 2 it / iz ed A f f or t F e R r A S d E e R d ucting $41,040,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis