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 26, 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 ban kreserves for the week ended February 25 decreased $173 millio nto $18,389 million .Estimated required reserves decreased $121 million; and estimated excess reserves decreased $52 millio nto $330 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $126 million, compared with $18 3million the week before. The principal changes reducing average reserves were decreases of $129 million in U. S. Government securities bought outright and $109 million in member bank borrowings, and increases of $57 million in "other" deposits with Federal Reserve Banks, $45 million in Treasury deposits with Federal Reserve Banks, and $4l million in "other" F. R. account s(net). The principal offsetting changes were an increase of $90 millio nin Federal Reserve float and a decrease of $94 million in money in circulation. Total Reserve Bank credit decreased $147 million. As of Wednesday, February 25, holdings of U. S. Government securities bought outright were $132 million lower than a week earlier ,U. S. Government securities held under repurchase agreement were less than a million lower, and member bank borrowings were $79 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Feb. 25, Feb. 18, 1 Feb. 26, Feb, 25, and related items 1959 1959 i 1958 1959 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,394 -129 +2,014 25,338 Held under repurchase agreement 5 - 1 + 5 4 Acceptances-- Bought outright 37 — — - 5 35 Held under repurchase agreement 5 + 1 + 5 2 Loans, discounts, and advances-- Member bank borrowings 456 -109 + 303 543 Other 19 - "• + 19 19 Float 1,050 + 90 + 98 778 Total Reserve Bank credit 26,965 -147 +2,A 3ti 26,718 Gold stock 20,474 - 1 -2,240 20,474 Treasury currency outstanding 5,239 + 1 4- 74 5,239 52,678 -147 + 272 52,431 Money in circulation 31,111 - 94 + 569 31,102 Treasury cash holdings 724 - 17 + 29 720 Treasury deposits with F. R. Banks 443 + 45 65 455 - Foreign deposits with F. R. Banks 308 - 5 + 24 323 Other deposits with F. R. Banks 448 + 57 + 172 342 Other F. R. account s(net) 1,255 + 41 + 62 1,255 34,289 + 26 + 792 34,198 Member bank reserves-- 18,389 -173 720 18,233 Required reserves (estimated) 18,059 -121 367 18,019 • Excess reserves (estimated) 330 - 52 - 153 214 On February 25, 1959, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,853 million, an increase of $53 million for the week and an increase of $234 million from the comparable date Digitizeda fo r yFeRaASrE Ra go. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 25, Feb. Feb. 26, 1959 1959 1958 A SS E TS Gold certificate account 18,967,891 9,999 -2,277,502 Redemption fund for F. R. notes 925,507 2,382 + 71,704 Total gold certificate reserves 19,893,398 7,617 -2,205,798 F. R. notes of other Banks 548,170 9,194 + 2,768 Other cash 462,843 + 91 - 58,764 Discounts and advances 560,819 + 79,344 + 377,082 Industrial loans 333 179 Acceptances: Bought outright 34,632 1,002 7,071 Held under repurchase agreement 2,094 2,906 + 2,094 U. S. Government securities: Bought outright— Bills 1,336,950 - 132,000 + 662,927 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 25,338,012 - 132,000 +1,928,627 Held under repurchase agreement 4,000 500 + 4,000 Total U. S. Government securities 25,342,012 132,500 +1,932,627 Total loans and securities 25,939,890 - 57,064 +2,304,553 Due from foreign banks 15 Uncollected cash items 5,082,049 - 976,584 + 455,419 Bank premises 94,536 + 24 + 9,956 Other assets 106,746 + 12,748 - 17,722 TOTAL ASSETS 52,127,647 -1,022,362 + 490,412 L I A B I L I T I ES Federal Reserve notes 27,014,174 34,102 + 504,004 Deposits: Member bank reserves 18,232,961 - 359,710 - 646,808 U. S. Treasurer—general account 455,316 + 59,559 + 48,952 Foreign 322,895 5,551 + 48,939 Other 341,978 - 10,496 + 44,177 Total deposits 19,353,150 - 316,198 - 504,740 Deferred availability cash items 4,303,995 - 684,937 + 398,152 Other liabilities and accrued dividends _2 6+^884 1,749 + 10,231 TOTAL LIABILITIES 50,698,203 -1,033,488 + 407,647 C A P I T AL A C C O U N TS Capital paid in 372,604 h 295 + 23,780 868,410 1/+ 31,669 Surplus Other capital accounts 188,430 k 10,831 + 27,316 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52.127,647 -1,022,362 + 490,412 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 42.9# 4.8# Contingent liability on acceptances purchased for foreign correspondents 61,925 4,521 80,817 XIJnJAdAuU.sPt rviialQli X lXoUaQnU commitments 360 715 1/ Net change after elimination of Sec. 13b surplus of $27,5^3,000 o& Sept, 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 25. 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 539,444 220 12,515 ™ 285,210 16 days to 90 days 21,375 19 24,211 882,640 91 days to 1 year 40 18,822,826 Over 1 year to 5 years 54 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,363,662 Total 560,819 333 36,726 25,342,012 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF C0NDIT]CO N OF EACH FEDERAI RESERVE BANK ON FEBRUARY 25, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta J Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 18,967,891 @91,289 5,129,615 1006,750 1589,249 1019,845 870,175 3408,495 757,041 433,334 761,444 691,808 2408,846 Redemption fund for F. R. notes 925,507 54,724 194,294 58,766 86,350 81,373 56,109 171,038 44,158 21,989 43,143 29,547 84,016 Total gold certificate reserves 19,893,398 946,013 5,323,909 1065,516 1675,599 1101,218 926,284 3579,533 801,199 455,323 804,587 721,355 2492,862 F.R. notes of other Banks 548,170 36,208 129,261 27,436 42,311 66,981 83,035 45,032 15,419 14,085 8,387 34,736 45,279 Other cash 462,843 35,545 88,293 25,350 41,861 29,104 32,601 82,173 30,082 13,610 15,575 16,575 52,074 Discounts and advances 560,819 31,881 54,129 15,628 41,737 58,277 57,335 132,813 22,742 9,942 85,342 23,943 27,050 Industrial loans 333 327 6 Acceptances: Bought outright 34,632 34,632 -afield under rep. agree. 2,094 2,094 -- JtL S, Govt, securities: Bought outright— Bills 1,336,950 72,794 337,136 76,853 118,354 87,025 68,028 233,538 54,540 28,126 57,065 52,369 151,122 "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 Botes 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 25,338,012 1379,604 6,389,43b 1456,530 2243,040 1649,302 12439,274 4426,044 1033,639 533,036 1061,502 992,515 2864,062 "Held under rep. agree. 4,000 i|>. 00 0••• •• •» •" •* "Total U. S. Govt, sees. 25,342,012 1379,604 6,393,436 1456,530 2243,048 1649,302 1289,274 4426,044 1033,639 533,036 1081,502 992,515 2864,082 •Total loans & securities 25,939,890 1411,812 6,484,291 1472,158 2284,785 1707,579 1346,609 4558,857 1056,381 5^2,984 1166,844 1016,458 2891,132 Due from foreign banks 15 1 1/4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,082,049 392,606 1,012,654 356,576 419,024 393,796 386,046 847,269 203,343 120,991 263,582 228,464 457,698 Bank premises 94,536 4,636 10,282 4,201 9,373 6,884 9,316 12,321 6,943 5,225 4,771 8,001 12,583 Other assets 106,746 5,496 26,441 5,760 9,674 6,971 6,397 17,507 4,500 2,242 5,429 4,491 11,838 TOTAL ASSETS 52,127,647 2832,317 13,075,135 2956,998 4482,628 3312,534 2790,289 9142,694 2117,868 1154,460 2269,176 2030,081 5963,467 1/ After deducting $11,000 participation sof other Federa lReserve Banks" Dig2iti/ze dL foer sFRs AStEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK OK FEBRUARY 25, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,014,174 1572,198 6,300,803 1687,990 2488,715 2052,847 1433,381 5172,104 1199,038 592,611 1077,6o4 774,098 2662,785 Deposits: Member "bank reserves 18,232,961 774,592 5,106,636 832,534 l46o,56o 793,231 912,664 2911,504 651,483 401,165 846,540 930,106 2611,946 U.S.Treas.-gen.acct. 455,316 26,416 41,831 19,850 38,958 32,892 39,896 63,991 24,164 23,767 56,634 35,966 50,951 Foreign 322,895 16,995 1/100,415 20,394 27,810 15,450 14,523 45,732 11,433 7,4l6 12,051 16,068 34,608 Other 341,978 331 ~ 287,850 1,255 1,200 2,443 817 719 #77 230 2,013 1,360 42,883 Total deposits 19,353,150 818,334 5,536,732 874,033 1528,528 844,016 967,900 3021,946 687,957 432,578 917,238 983,500 2740,388 Deferred availability cash items 4,303,995 360,107 840,456 299,301 333,287 340,000 319,367 731,784 174,466 93,364 215,902 198,063 397,898 Other liabilities and accrued dividends 26,884 1*364 6,666 1,334 2,777 1,419 1,248 4,427 993 996 1,178 1,275 3,207 TOTAL LIABILITIES 50,698,203 2751,983 12,684,677 2862,658 4353,307 3238,282 2721,896 8930,261 2062,454 1119,549 2211,922 1956,936 5004,278 CAPITAL ACCOUNTS Capital paid in 372,604 18,403 107,603 22,116 35,544 16,666 18,807 51,299 12,542 8,532 15,290 21,472 44,330 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 188,430 11,815 43,953 12,617 17,134 12,740 10,112 28,975 9,126 5,594 9,029 8,237 19,098 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,127,647 2832,317 13,075,135 2956,998 4482,628 3312,534 2790,289 9142,694 2117,868 1154,460 2269,176 2030,081 5963,467 Conting. liah. on acceptances purchased for foreign correspondents 61,925 3,405 2/17,357 4,085 5,571 3,095 2,909 9,161 2,290 1,486 2,4l4 3,219 6,933 Industrial loan commit. 360 — — — — 20 — 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,218,699 1663,418 6,620,707 1764,464 2573,536 2137,215 1508,078 5325,745 1251,619 606,654 1111,842 825,957 2829,464 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 121,003 —— l4,420 —— — — —— —— 22,065 —— 84,5l8 — — — U. S. Govt, securities 18,715,000 1150,000 4,000,000 1200,000 1750.000 1530,000 1100,000 3500.00 0935.000 'l25,OQO 6^0,000 575,000 1700,000 — , T ^ otal collateral 29, 7f1 1,, 0,0 3 1750,000 6,920,000 1854,420 2670,000 2230,000 1575,000 5600,000 1387,065 625,000 1234,518 865,000 3000,000 1/ After deducting $222,480,000 participationso f other Federal Reserve Banks. 2/ After deducting $44,568,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis