H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM February 13, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BAMS The average of daily figures of member bank reserves for the week ended February 11 decreased $7 million to $18,742 million. Estimated required reserves decreased $135 million; and estimated excess reserves increased $128 million to $481 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $54 million, compared with $62 million the week before. The principal changes reducing average reserves were decreases of $59 million in Federal Reserve float and $45 million in U. S. Government securities held under repurchase agreement, and increases of $72 million in money in circulation, $39 million in "other" F. R. accounts (net), and $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $120 million in member bank borrowings and $29 million in U. S. Government securities bought outright, and a decrease of $78 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $44 million. As of Wednesday, February 11, holdings of U. S. Government securities bought outright were $56 million lower than a week earlier, U.S. Government securities held under repurchase agreement were $49 million lower, and member bank borrowings were $53 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 11, Feb. 4, Feb. 12, Feb. 11,1 and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,621 + 29 +2,329 25,543 Held under repurchase agreement 36 - 45 - 94 15 Acceptances—bought outright 37 - 2 - 4 37 Loans, discounts, and advances-- Member bank borrowings 535 +120 + 249 337 Other 19 + 18 19 Float 887 - 59 + 94 876 Total Reserve Bank credit 27,136 rfc +2 ,593 26,827 Gold stock 20,476 -2,308 20,476 Treasury currency outstanding 5,236 * — + 77 5,238 52,848 + 362 52,541 Money in circulation 31,193 + 72 + 518 31,241 Treasury cash holdings 727 + 5 - 7 741 Treasury deposits with F. R. Banks 364 - 78 + 68 427 Foreign deposits with F. R. Banks 304 + 26 + 20 307 Other deposits with F. R. Banks 333 - 11 + 8 330 Other F. R. accounts (net) 1,185 + 39 + 67 1,184 34,106 + 51 + 674 34,230 Member bank reserves— 18,742 - 7 312 18,311 Required reserves (estimated) 18,261 -135 - 222 18,273 Excess reserves (estimated) 481 +128 - 90 38 On February 11, 1959# U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,793 million, an increase of $78 million for the week and an increase of $139 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

2.4.1(a) 8##MENT,0F C, OF THE TWELVE FEDERAL RESERVE, BANKS COMBINED (In thotiSatids # dollars) Change since Feb. 11, Feb. 4, Feb. 12, 1959 1959 1958 A SS E TS 18,957,894 3 -2,387,498 Gold certificate account + 75,188 930,781 3J25 Redemption fund for F. R. notes 19,"WT&75 3,322 -2,312,310 Total gold certificate reserves 551,016 75,757 9,487 F. R. notes of other Banks 455,260 29,830 - 76,371 Other cash + 118,226 355,623 52,759 Discounts and advances 188 335 Industrial loans 36,632 3,207 Acceptances—bought outright U. S. Government securities: Bought outright- 1,541,950 55,600 + 978,177 Bills 18,649,726 -1,283,886 Certificates 2,867,565 +2,867,565 Notes 2,483,771 - 317,979 Bonds Total bought outright 25^153^012 - 55,600 +2,243,877 15,000 - 48,850 - 149,700 Held under repurchase agreement 25.558,012 - 104,450 +2709^,177 Total U. S. Government securities 25,950,602 - 157,210 +2,209,008 Total loans and securities 15 Due from foreign banks 4,899,301 - 46,258 + 138,930 Uncollected cash items 94,188 + 112 + 9,816 Bank premises 154,875 + 12,947 - 34,492 Other assets 51,993,932 - 299,318 - 74,906 TOTAL ASSETS L I A B I L I T I ES 27,163,054 + 42,946 + 454,704 Federal Reserve notes Deposits: 18,310,639 - 351,658 - 577,786 Member bank reserves 426,887 + 5,323 + 77,019 U. S. Treasurer—general account 306,790 + 19,631 + 10,034 Foreign 330,467 - 21,220 - 266,512 Other 19,37V?83 - 347,924 - 757,245 Total deposits 4,023,094 6,729 + 185,963 Deferred availability cash items 25,956 + 2,444 1 9*802 Other liabilities and accrued dividends 50,586,087 - 309,263 - 106,776 TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in 371,465 + 567 23,164 868,410 1/+ 31,669 Surplus Other capital accounts 167,170 + 9,378 22,963 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,993>932 - 299,318 74,906 Ratio of gold certificate reserves to deposit 42.7% + .2$ 4/ and F. R. note liabilities combined Contingent liability on acceptances purchased 57,165 + 117 • 74,147 for foreign correspondents 960 109 Iinndauusstxrriiaali mloaaun ucuommmmxi tommecnutusp - , ,543,000 on Sept. 2 ,1958. 1/ Net change after elimination of Sec. 13 bsurplus of $27, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 11, 195% U. S. Government Discounts and Industrial advances loans Acceptances securities Within 15 days 336,513^ 221 12,048 6,055,893 16 days to 90 days 19, lie"*- 1 14 24,584 858,950 91 days to 1 year 42 13,291,833 Over 1 year to 5 years 58 3,881,179 206,495 Over 5 years to 10 years 1.263,662 Over 10 years 36,632 25,558,012 Total 355,623 335 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S.4.l(b) Total Boston New York P d h e i l l p a h - ia Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t 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 18,957,894 894,211 4,850,495 1013,068 1543,625 1152,059 948,584 3314,022 763,324 486,391 792,052 730,104 2469,959 Redemption fund for 930,781 55,014 195,521 59,197 86,777 82,635 56,413 171,526 44,306 22,149 43,294 29,638 84,311 P. R. notes Total gold certificate 19,888,675 949,225 5,046,016 1072,265 1630,4021 234,694 1004,997 3485,548 807,630 508,540 835,346 759,742 2554,270 reserves 551,016 43,835 126,644 27,929 40,565 66,181 76,616 43,739 17,077 17,121 8,105 34,862 48,342 F.R. notes of other Banks 455,260 35,621 87,380 25,987 39,394 28,858 31,931 78,472 29,919 13,202 15,324 16,173 52,999 Other cash Discounts and advances 355,623 2244,,337766 42,799 20,768 24,592 28,484 26,441 49,558 7,502 13,26 8 9 81,582 25,452 10,800 Industrial loans 335 332277 Acceptances— Bought outright 36,632 36,632 -- -- — — -- -- ~ -- -- -- -- U. S. Govt, securities: Bought outright— 1,541,950 83,956 388,830 88,638 136,501 100,369 78,459 269,347 62,903 32,438 65,816 60,399 174,294 Bills 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 ^Certificates . B N o o n t d e s s 2 2 , , 8 4 6 8 7 3 , , 5 7 6 7 5 1 1 13 5 5 6 , , 2 1 3 3 6 4 7 62 2 6 3 , , 3 1 2 09 7 1 1 6 4 4 2 , , 8 7 3 7 9 7 2 2 5 1 3 9 , , 8 8 5 7 1 6 1 1 8 6 6 1 , , 6 6 5 7 5 4 1 1 4 2 5 6 , , 9 3 1 8 0 2 4 5 3 0 3 0 , , 8 9 6 0 5 7 1 1 1 0 6 1 , , 9 3 7 2 9 3 6 5 0 2 , , 3 2 2 5 5 1 1 1 0 2 6 2 , , 0 3 1 9 5 6 11 9 2 7 , , 3 2 2 9 5 2 2 3 8 2 0 4 , , 7 1 5 3 3 5 Total 25,543,012 1390,766 6,441,130 1468,315 2261,195 1662,646 1299,705 4461,653 1042,002 537,348 1090,253 1000,545 2887,254 Held under repurchase agreement 15,000 15.000 1390.766 6,456.130 1468.315 2261,195 1662.646 1299,705 4461,853 1042,002 537,348 1090,253 1000,5^5 2887,254 Total U. S. Govt, sees. 25,558,012 Total loans & securities 25,950,602 1415,469 6,535,561 1489,083 2285,787 1691,130 1326,146 &511,4ll 1049,504 550,625 1171,835 1025,997 2898,054 l/4 1 1 1 1 2 1 2/ 1 11 Due from foreign banks 15 1 as as as & as as Uncollected cash items 4,899,301 362,819 9237266 304,837 413,637 405,702 420,444 766,080 220,750 128,764 237,469 229,316 486,217 Bank premises 94,188 4,670 Other assets 154,875 8.011 2819,65112,767,474 2932,968 4432,8913443,170 2878,122 8925,035 2138,1721226,660 2280,2512080,197 6069,341 TOTAL ASSETS 51,993,932 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2iti/ze dL foer sFsR AStEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH FEBRUARY 11, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond AAttllaannttaa CChhiiccaaggoo DDaallllaass delphia land Louis apolis City Francisco (In thousands of dollars) . L I A B I L I T I ES Federal Reserve notes 27,163,054 1579,004 6,329,265 1693,863 2500,704 2068,668 1448,106 5201,739 1207,224 592,129 1082,250 778,574 2681,528 Deposits: Member tank reserves 18,310,639 789,651 4,969,998 865,249 1420,327 805,962 959,925 2849,536 666,075 456,778 892,041 976,722 2658,375 U.S.Treas.-gen.acct. 426,887 31,746 5,246 5,268 5,370 147,627 33,377 5,117 30,403 24,105 42,782 32,403 63,443 Foreign 306,790 15,675 1/101,590 18,810 25,650 14,250 13,395 42,180 10,545 6,840 11,115 14,820 31,920 Other 330.467 293 ~ 274.102 2.755 1,440 3.122 1,488 987 542 651 1,829 1,630 41,628 Total deposits 19,374,783 837,365 5,350,936 892,082 1452,787 970,961 1008,185 2897,820 707,565 488,374 947,767 1025,575 2795,366 Deferred availability cash items 4,023,094 322,751 695,832 252,682 349,551 329,216 353,339 612,566 167,822 110,662 192,819 202,801 433,053 Other liabilities and accrued dividends 25,956 1,263 6,582 1,264 2,622 1,443 1,183 4,501 951 956 1,087 998 3,106 TOTAL LIABILITIES 50,586,887 2740,383 12,382,615 2839,891 4305,664 3370,288 2810,813 8716,626 2083,562 1192,121 2223,923 2007,948 5913,053 CAPITAL ACCOUNTS Capital paid in 371,465 18,386 107,546 22,079 35,309 16,622 18,703 51,090 12,513 8,512 15,24l 21,292 44,172 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 167,170 10.766 38,411 11.391 15.275 11.4l4 9,132 25,l60 8,351 5,242 8,152 7,521 16,355 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,993,932 2819,651 12,767,474 2932,968 4432,891 3443,170 2878,122 8925,035 2138,172 1226,660 2280,251 2080,197 6069,341 Conting. liab. on acceptances purchased for foreign correspondents 57,165 3,146 2/15,981 3,775 5,148 2,860 2,689 8,466 2,116 1,373 2,231 2,974 6,406 Industrial loan commit. 960 20 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,345,575 1673,874 6,648,386 1769,524 2579,743 2158,138 1512,765 5352,979 1257,435 606,167 1116,184 830,577 2839,803 Collat. for F. R. notes: Gold certificate acct. 10,875,000 600,000 2,920,000 64o,ooo 920,000 700,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 107,253 —— — — 19,560 — — —— — — ~ — 6,825 ~ — 80,868 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 29,697,253 1750,000 6,920,000 1859,560 2670,000 2230,000 1575,000 5600,000 1371,825 625,000 1230,868 865,000 3000,000 Dig1it/iz edA ffort FeRrA SdEeRd ucting $205,200,000 participations of other Federal Reserve Banks. htt2p:///f raAsefrt.setloru isdfeedd.ourgc/ ting $4l,184,000 participations of other Federal Reserve Banks. Federal Reserve Bank of St. Louis