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 19, 1959 WEEKLY AVERAGES OF MEMBER BAH RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and. STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member ban kreserves for the week ended February 18 decreased $180 millio nto $18,562 million. Estimated required reserves decreased $66 million; and estimated excess reserves decreased $114 million to $382 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $183 million, compared with $39 million the week before. The principal changes reducing average reserves were decreases of $128 million in Federal Reserve holdings of U. S. Government securities, and increases of $58 million in "other" deposits with Federal Reserve Banks, $34 million in Treasury deposits with Federal Reserve Banks, and $29 million in "other" F. R. accounts (net), The principal offsetting changes were increases of $73 million in Federal Reserve float and $30 million in member ban kborrowings. Total Reserve Bank credit decreased $24 million. As of Wednesday, February 18, holdings of U. S. Government securities bought outright were $73 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $11 million lower, and member bank borrowings were $126 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 18, Feb. 11, Feb. 19, Feb. 18, and related items 1959 1959 I958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,523 - 98 +2,238 25,470 6 - 30 82 5 field under repurchase agreement Acceptances-- Bought outright 37 4 36 Held under repurchase agreement 4 + 4 + 4 5 Loans, discounts, and advances- Member bank borrowings 565 + 30 + 204 463 Other 19 — — + 19 19 Float 960 + 73 94 1,070 Total Reserve Bank credit 27,112 - 24 +2,282 27,067 Gold stock 20,475 - 1 -2,310 20,475 Treasury currency outstanding 5,238 + 2 + 77 _M38 52,825 - 23 + 49 52,780 Money in circulation 31,205 + 12 + 563 31,116 Treasury cash holdings 741 + 14 + 56 740 Treasury deposits with P. R. Banks 398 + 34 - 103 396 Foreign deposits with F. R. Banks 313 + 9 24 328 Other deposits with F. R. Banks 391 + 58 + 98 352 Other F. R. account s(net) 1,214 + 29 + 19 1,255 34,263 +157 + 609 34,187 Member bank reserves-- 18,562 -180 - 560 18,593 Required reserves (estimated) 18,180 - 66 - 247 18,209 Excess reserves (estimated) 382 -114 - 313 384 On February 18,. 1959 ,U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,800 million, an increase of $7 million for the week and an increase of $68 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION 5.4.1(a) OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 18, Feb. 11, Feb. 19, 1959 1959 1958 A S S E TS 18,957,892 2 -2,387,501 Gold certificate account Redemption fund for F. R. notes 927,889 - 2,892 + 73,871 Total gold certificate reserves 19,885,781 - 2,894 -2,313,630 557,364 + 6,348 + 7,642 F. if. notes of other Banks 462,752 + 7,492 - 49,189 Other cash 481,475 + 125,852 + 346,358 Discounts and advances Industrial loans 333 - 2 152 Acceptances: 35,634 998 5,880 Bought outright 5,000 + 5,000 + 5,000 Held under repurchase agreement U. S. Government securities: Bought outright— 1,468,950 73,000 + 847,927 Bills Certificates 18,649,726 -- -1,296,379 2,867,565 +2,867,565 Notes — — Bonds 2,483,771 — — - 305,486 25,470,012 73,000 +2,113,627 Total bought outright 4,500 10,500 + 4,500 Held under repurchase agreement - Total U. S. Government securities 25,474,512 - 83,500 +2,118,127 Total loans and securities 25,996,954 + 46,352 +2,463,453 Due from foreign banks 15 Uncollected cash items 6,058,633 +1,159,332 +1,016,787 Bank premises 94,512 + 324 + 9,771 16,668 Other assets 93,998 - 60,877 53,150,009 +1,156,077 +1,118,166 TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes 27,048,276 - 114,778 + 461,966 Deposits: Member bank reserves 18,592,671 + 282,032 - 589,771 U. S. Treasurer—general account 395,757 • 31,130 - 57,019 Foreign 328,446 + 21,656 + 37,900 Other 352,474 + 22,007 + 70,272 Total deposits 19,669,348 + 294,565 - 538,618 Deferred availability cash items 4,988,932 + 965,838 +1,154,777 Other liabilities and accrued dividends 25,135 - 821 + 9,756 TOTAL LIABILITIES 51,731,691 +1,144,804 +1,087,881 C A P I T AL A C C O U N TS Capital paid in 372,309 + 844 + 23,718 Surplus 868,410 — «• 1/+ 31,669 Other capital accounts 177,599 + 10,429 ~ - 25,102 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,150,009 Ratio of gold certificat ereserves to deposit 4.8* and F. R. not eliabilities combined 42.6# .1# Contingent liability on acceptances purchased for foreign correspondents 57,404 239 75,510 360 600 742 Industrial loan commitments 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 18, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 461,423 224 16,616 452,560 16 days to 90 days 20,052 17 24,018 851,790 18,818,826 91 days to 1 year 38 Over 1 year to 5 years 54 3,881,179 Over 5 years to 10 years 206,495 1.263,662 Over 10 years Total 481,475 333 40,634 25,474,512 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

BANK- OR-FEBRUARY 1959 I.4.l(b] STATEMRWT Off CONDITIO NOf* EACH jfUSDERA LRESERVE^ St. Minne- Kansas Dallas San Total Boston Hew York | « £? lE" Atlanta Chicago Louis apolis City Francisco (In thousands of dollars) A S S E TS 916,685 3440,082 726,466 448,865 769,008 753,442 2488,913 882,346 4,903,405 994,465 1592,668 1041,547 18,957,892 Sold certificate account Redemption fund for 56.245 171,245 44,222 22,068 43,192 29,584 84,143 54,848 194,859 58,950 86,531 82,002 927,889 F. R. notes Total gold certificate 937,194 5,098,2611 1053,415 1679,199 1123,54 9972,930 3611,327 770,688 470,933 812,200 783,026 2573,056 19,885,781 reserves I F. R. notes of other Banks 4 5 6 5 2 7 , , 7 36 5 4 2 4 3 l 6 , , 6 4 l 4 6 4 1 9 3 1 6 , ,8 4 3 7 0 6 2 2 9 6 , ,8 9 5 7 3 8 4 40 2 , , 6 1 2 5 9 1 6 2 5 8 , , 7 0 5 2 2 4 7 3 7 0 , , 1 2 1 7 9 3 4 8 2 0 , , 7 6 5 l 2 8 1 1 4 2 , , 4 9 2 7 4 0 7 1 , 5 7 , 7 56 4 4 3 16 5 , , 6 7 5 34 5 4 5 7 2 , , 1 4 1 0 9 8 Other cash 481,475 26,341 36,254 31,013 14,517 38,265 59,631 147,563 5,70 6 4 75,492 11,993 7,700 Discounts and advances 333 327 Industrial loans Acceptances: 35,634 35,634 Bought outright Held under rep. agree, 5,000 5,000 -- -- -y. S. Govt, securities: Bo B u C N B i g e o o l r h t n l t e d t i s s s f o i u c t a r t i e g s h t— 18 1 2 2 , , , , 6 4 8 4 4 6 6 8 8 9 7 3 , , , , 9 7 5 7 5 2 6 7 0 6 5 1 10 1 1 7 3 1 5 9 5 5 6 , , , , 9 2 4 1 8 3 4 3 1 6 0 4 4, 7 3 6 7 2 7 2 0 3 0 6 2 , , , , 4 1 3 8 2 0 2 6 2 9 7 4 8 1 1 1 4 6 0 4 , 4 7 2 4 , 2 , 8 , 4 7 3 0 7 1 6 9 7 1 1 1 2 2 6 3 1 5 5 0 9 3 0 , , , , 9 8 0 8 6 5 3 7 7 1 9 6 1 1 8 1 9 2 6 6 5 1 , 1 , 6 3 , 6 5 6 , 1 9 5 7 4 7 4 8 9 1 1 j~ 7 s 4 4 2 r\ 4 8 5 r 6 , , , , - 3 7 9 9 8 r 4 5 1 >r 2 4 % 4 0 r \ 4 2 3 5 3 1 5 2 0 3 6 5 . 0 , , 7 , 8 5 , i 9 6 9 7 0 ti 3 5 6 t 7 4 P i 7 1 1 1 6 5 1 0 0 9 6 1 A , , , , 9 7 O 9 3 2 9 7 2 5 7 9 3 3 5 6 3 9 5 3 0 0 2 2 5 , , , , , 9 3 3 2 8 0 2 3 5 1 3 5 4 1 3 1 7 1 1 0 6 9 2 0 8 2 2 6 6 7 , , , , ,0 6 3 0 1 2 9 9 1 3 6 9 6 5 6 7 1 9 3 5 9 1 9 0 7 2 7 7 , , , , ,5 3 5 2 6 4 2 9 2 8 0 5 2 9 6 1 3 2 2 2 6 2 8 1 8 6 4 0 0 , 7 , , 8 0 9 1 7 4 , , 3 5 0 0 3 5 3 7 0 2 } Total Held under rep. agree. 535,813 1087,136 997,686 2879,003 25,474,512 1386,791 6,427,222 Total U. S. Govt, sees. 541,523 1162,62810 09,679 2886,703 1495,131 2269,25 01696,159 1355,621 4596,665 1066,026 25,996,954 1413,459 6,504,110 Total loans & securities 1 1 15 151,411 311,191 296,672 623,696 Due from foreign banks 377,158 547,010 448,523 516,246 959,900 235*601 6,058,633 441,720 1,149,505 5,224 4,771 7,999 12,495 Uncollected cash items 6,927 9,289 12,318 94,512 10,280 9,373 1,964 4,932 4,047 10,490 Bank premises 5,732 15,259 93,998 23,139 Other assets 1198,449 2319,0612 153,813 6205,968 2879,994 13,013,608 2991,804 4596,105 3374,966 2967,211 9318,841 2130,189 53,150,009 TOTAL ASSETS 1/ After deducting $11,000 participation sof other Federa lReserve Banks 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON FEBRUARY l8 ,1959 Total Boston New York ^ | ic ond Atlanta Chicago | ^ |Eallae Fr^Ss.o E ta (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,048,276 1573,201 6,289,385 1688,455 2495,923 2060,128 1438,087 5184,390 1201,945 593,191 1079,289 777,270 2667,012 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,592,671 790,743 5,081,656 866,575 1472,665 806,311 960,693 2981,250 651,658 416,266 871,454 1004,943 2688,457 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 395,757 21,186 18,474 21,014 27,007 36,394 31,002 73,234 22,691 17,959 46,730 21,721 58,345 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 328,446 17,490 1/99,486 20,988 28,620 15,900 14,946 47,064 11,766 7,632 12,402 16,536 35,616 OOOOOttttthhhhheeeeerrrrr 352,474 352 300,639 1,114 1,262 2,420 1,385 1.552 608 274 2,282 1.687 38.899 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,669,348 829,771 5,500,255 909,691 1529,554 861,025 1008,02 63103,100 686,723 442,131 932,868 1044,887 2821,317 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,988,932 395,932 830,121 298,686 439,819 378,874 452,040 816,864 185,642 127,425 249,118 257,697 556,714 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 25,135 1,303 6,258 1,263 2,491 l,4o6 1,270 4,094 879 984 1,026 1,198 2,963 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,731,691 2800,207 12,626,019 2898,095 4467,787 3301,433 2899,423 9108,448 2075,189 1163,731 2262,301 2081,05 26o48,oo6 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 372,309 """""SSSSSuuuuurrrrrpppppllllluuuuusssss 868,410 50,# 116 238,'902 59,'607 76,'643 44*846 39,'474 132*159 33,746 20,785 32,935 43,'£3! 95,761 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 177,599 11,269 41,124 11,986 16,138 12,047 9,601 26,992 8,724 5,406 8,572 7.866 17.874 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,150,009 2879,994 13,013,608 2991,804 4596,105 3374,966 2967,211 9318,841 2130,189 1198,449 2319,061 2153,813 6205,968 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 57,404 3,157 2/16,076 3,788 5,166 2,870 2,698 8,495 2,124 1,377 2,239 2,985 6,429 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 20 — -- — — — %4n FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg ;; 28,270,825 1667,253 6,642,003 1769,384 2572,926 2145,925 1508,704 5333,99 11254,643 607,313 1111,129 825,949 2831,605 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 130,908 29,805 — — — — 26,325 — 74,778 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 29,720,908 1750,000 6,920,000 1869,805 2670,000 2230,000 1575,000 5600,000 1391,325 625,000 1224.778 865.000 3000.000 1/ After deducting $228,960,000 participations of other Federa lReserve Banks. 2/ After deducting $41,328,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis