H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM March 5, 1959 WEEKLY AVERAGES OF MEMBEFl BANK RESERVES, 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 March 4 decreased $14 million to $18,375 million. Estimated required reserves increased $8 million; and estimated excebe reserves decreased' $22 million to $352 million; Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $177 million, compared with $82 million the week before. The principal changes reducing average reserves were decreases of $44 million in Federal Reserve holdings of U. S. Government securities and $99 million in Federal Reserve float, and an increase of $91 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $73 million in member ban kborrowings and decreases of $109 million in "other" deposits with Federal Reserve Banks and $4l million in "other" F. R. account s(net). Total Reserve Bank credit decreased $73 million. As of Wednesday, March 4, holdings of U. S. Government securities bought outright were $49 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $30 million higher, and member bank borrowings were $26 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 4, Feb. 25, March 5, March 4, and related items 1959 1959 1958 _J252 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,294 -100 +2,043 25,289 Held under repurchase agreement 61 + 56 + 56 33 Acceptances— Bought outright 36 - 1 6 35 Held under repurchase agreement 1 - 4 + l Loans, discounts, and advances— Member bank borrowings 529 + 73 + 4ll 516 Other 19 + 18 19 Float 951 - 99 + 59 897 Total Reserve Bank credit 26,892 - 73 +2 ,583 26,789 Gold stock 20,479^ + 5 -2,207 20,479 Treasury currency outstanding 5,24qr» + 1 + 71 5,241 52,61®——I - 68 + 446 52,509 Money in circulation 31,126^1 + 15 + 563 31,128 Treasury cash holdings 7 2 ^| «* — + 23 720 Treasury deposits with F. R. Banks 534 + 91 + 48 659 Foreign deposits with F. R. Banks 298 - 10 + 28 290 Other deposits with F. R. Banks 339 -109 + 19 346 Other F. R. account s(net) 1,214 - 41 + 63 1,212 34,235 - 54 + 7^5 34,356 Member bank reserves-- 18,375 - 14 299 18,153 Required reserves (estimated) 18,023 + 8 - ' 61 18,002 Excess reserves (estimated) 352 - 22 238 151 - On March 4, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,833 million, a decrease of $20 million for the week and an increase of $301 millio nfrom the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANK SCOMBINED (In thousands of dollars) Change since March 4, Feb. 25, March 5> 1959 1959 1958 , A S S E TS Gold certificate account 18,967,891 -2,267,502 Redemption fund for F. R. notes 925,507 + 64,439 Total gold certificate reserves 19,893,398 -2,203,063 F. R. notes of other Banks 530,435 17,735 + 19,03? Other cash 463,440 597 - 44,799 Discounts and advances 534,643 26,176 + 427,640 Industrial loans 333 158 Acceptances: Bought outright 34,631 1 7,969 Held under repurchase agreement 2,094 U. S. Government securities; Bought outright— Bills 1,287,700 49,250 + 707,440 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 25,288,762 49,250 +1,973,140 Held under repurchase agreement 33,700 29,700 + 18,700 Total U. S. Government securities 25,322,462 19,550 +1.991.840 Total loans and securities 25,892,069 47,821 +2,411,353 Due from foreign banks 15 Uncollected cash items 5,244,296 + 162,247 + 628,018 Bank premises 94,462 74 + 9,711 Other assets 120,882 + 14,136 - 20,407 TOTAL ASSETS 52,238,997 + 111,350 + 799,650 L I A B I L I T I ES Federal Reserve notes 27,016,029 + 1,855 + 465,163 Deposits: Member bank reserves 18,152,871 - 80,090 555,545 U. S. Treasurer--general account 659,025 + 203,709 + 273,337 Foreign 290,005 - 32,890 + 3,510 Other 346,418 + 4,440 + 37,593 Total deposits 19,448,319 + 957159 - 241,105 Deferred availability cash items 4,347,462 + 43,467 + 523,373 Other liabilities and accrued dividends 25,428 1,456 + 9,689 TOTAL LIABILITIES 50,837,238 + 139,035 + 757,120 C A P I T AL A C C O U N TS Capital paid in 373,302 + 698 + 24,215 Surplus 868,410 1/+ 31,669 Other capital accounts 160,047 - 28,383 ~ - 13.154 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,238,997 + 111,350 + 799,850 Ratio of gold certificate reserves to deposit and F. R. note liabilitie scombined 42.8$ 5.0# Contingent liability on acceptances purchased for foreign correspondents 62,129 204 • 71,333 Industrial loan commitments 360 - 716 1/ Net change after eliminatio nof Sec. 13b surplus of $27,5 43,000 on Sept. 2 ,1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 4, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordanc ewith maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 512,909 "W 10,224 120,660 16 days to 90 days 21,734 11 24,407 1,027,640 91 days to 1 year 4o 18,822,826 Over 1 year to 5 years 54 3,881,179 Over 5 years to 10 years 206,495 Over 10 years Total 534,643 333 34,631 25#322#462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MARCH 4, 1959 Pbila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphla land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,967,891 898,297 4,953,252 1012,203 1567,007 1033,081 925,292 3385,380 758,675 482,177 770,143 731,363 2451,021 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 19,893,398 953,021 5,147,546 1070,969 1653,357 1114,454 981,401 3556,418 802,833 504,166 813,286 760,910 2535,037 F.R. notes of other Banks 530,435 38,547 130,614 25,221 39,839 59,270 86,092 43,598 12,459 11,737 6,474 32,840 43,744 Other cash 463,440 36,891 87,949 26,437 43,979 26,756 30,787 80,636 30,250 13,111 14,530 18,495 53,619 Discounts and advances 534,643 20,856 45,554 33,013 51,187 45,227 53,910 122,003 16,242 10,009 66,149 9,343 41,150 Industrial loans 333 327 6 Acceptances— Bought outright 34,631 34,631 U. S. Govt, securities: Bought outright— Bills 1,287,700 70,112 324,717 74,022 113,994 83,819 65,522 224,935 52,531 27,090 54,963 50,440 145,555 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 Notes 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 257200,762 1376,922 6,377,017 1453,699 2230,600 1645,095"1 2857768 44177%! 1031,630 532,000 1079,400 990,506 2050,515 Held under repurchase agreement 33,700 33,700 Total U. S. Govt, sees. 25,382,462 1376,922 6,410,717 1453,699 2238,688 1646,096 1286,768 4417,441 1031,630 532,000 1079,400 990,586 2858,515 Total loans & securities 25,892,069 1398,105 6,490,902 1486,712 2289,875 1691,323 1340,678 4539,444 1047,872 542,015 1165,549 999,929 2899,665 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 1 1 Uncollected cash items 5,244,296 385,624 1,0067845 321,569 472,129 395,776 436,800 856,199 216,995 142,905 267,572 255,821 486,061 Bank premises 94,462 4,636 10,242 4,201 9,366 6,884 9,317 12,377 6,921 5,199 4,757 7,980 12,582 Other assets 120,882 6,399 29,380 6,668 11,127 7,850 7,159 20,185 5,131 2,529 6,006 4,915 13,533 TOTAL ASSETS 52,238,997 2823,224 12,903,482 2941,778 4519,673 3302,314 2892,235 9108,859 2122*462 1221,662 2278,175 2080,891 6044,242 1/ After deducting $11,000 participations of other Federal Reserve 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 FEDERAL RESERVE BANK ON MARCH 4, 1959 Total Boston New York ^ nT Rlchmond Atlanta Chicago | ^ ^s ^ty" FranSsco (In thousands of dollars) LLLL IIII AAAA BBBB IIII LLLL IIII TTTT IIII EEEESSSS FFFFeeeeddddeeeerrrraaaallll RRRReeeesssseeeerrrrvvvveeee nnnnooootttteeeessss 27,016,029 1568,161 6,290,488 1686,395 2485,229 2051,808 1439,749 5166,402 1199,702 594,062 1083,198 773,097 2677,738 DDDDeeeeppppoooossssiiiittttssss:::: MMMMeeeemmmmbbbbeeeerrrr bbbbaaaannnnkkkk rrrreeeesssseeeerrrrvvvveeeessss 18,152,871 768,388 4,958,880 843,813 1432,564 797,359 952,883 2867,693 645,042 430,129 863,242 966,288 2626,590 UUUU....SSSS....TTTTrrrreeeeaaaassss....----ggggeeeennnn....aaaacccccccctttt.... 659,025 35,919 139,233 34,756 54,209 36,198 37,929 93,890 36,671 29,544 41,165 48,338 71,173 FFFFoooorrrreeeeiiiiggggnnnn 290,005 15,455 1/87,685 18,546 25,290 14,050 13,207 41,588 10,397 6,744 10,959 14,612 31,472 OOOOtttthhhheeeerrrr 346,418 244 287,763 2,356 1,729 4,590 1,384 491 706 264 2,607 1,605 42.679 TTTToooottttaaaallll ddddeeeeppppoooossssiiiittttssss 19,448,319 820,006 5,473,561 899,471 1513,792 852,197 1005,403 3003,662 692,816 466,681 917,973 1030,843 2771,914 DDDDeeeeffffeeeerrrrrrrreeeedddd aaaavvvvaaaaiiiillllaaaabbbbiiiilllliiiittttyyyy ccccaaaasssshhhh iiiitttteeeemmmmssss 4,347,462 354,644 750,143 261,785 390,979 324,382 378,609 726,965 174,692 125,515 219,856 203,798 436,094 OOOOtttthhhheeeerrrr lllliiiiaaaabbbbiiiilllliiiittttiiiieeeessss aaaannnndddd aaaaccccccccrrrruuuueeeedddd ddddiiiivvvviiiiddddeeeennnnddddssss 25,428 1,379 6,331 1,340 2,840 l,4o6 1,316 4,475 907 947 1,043 977 2,467 TTTTOOOOTTTTAAAALLLL LLLLIIIIAAAABBBBIIIILLLLIIIITTTTIIIIEEEESSSS 50,837,238 2744,190 12,520,523 2848,991 4392,840 3229,793 2825,077 8901,504 2068,117 1187,205 2222,070 2008,715 5888,213 CCCCAAAAPPPPIIIITTTTAAAALLLL AAAACCCCCCCCOOOOUUUUNNNNTTTTSSSS CCCCaaaappppiiiittttaaaallll ppppaaaaiiiidddd iiiinnnn 373,302 18,420 107,903 22,116 35,621 16,750 18,842 51,391 12,547 8,551 15,298 21,503 44,360 SSSSuuuurrrrpppplllluuuussss 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 OOOOtttthhhheeeerrrr ccccaaaappppiiiittttaaaallll aaaaccccccccoooouuuunnnnttttssss 160,047 10,498 36,154 11,064 14,569 10,925 8,842 23.805 8.052 5.121 7.872 7.237 15.908 TTTTOOOOTTTTAAAALLLL LLLLIIIIAAAABBBBIIIILLLLIIIITTTTIIIIEEEESSSS AAAANNNNDDDD CCCCAAAAPPPPIIIITTTTAAAALLLL AAAACCCCCCCCOOOOUUUUNNNNTTTTSSSS 52,238,997 2823,224 12*902,482 2941,778 4519,673 3302,314 2892,235 9108,859 2122,462 1221,662 2278,175 2080,891 6044,242 Conting. liab. on acceptances purchased for foreign correspondents 62,129 3,415 2/17,417 4,099 5,589 3,105 2,919 9,191 2,298 1,490 2,422 3,229 6,955 Industrial loan commit. 360 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,199,306 1664,996 6,620,294 1761,036 2567,436 2144,632 1509,326 5320,398 1246,765 606,322 1115,097 823,429 2819,575 ••oollllaatt.. 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 132,805 — -- 31,805 — — — -- 15,565 — 85,435 — — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,685,000 1150,000 4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 425,000 850,000 575,000 1700,000 TToottaall ccoollllaatteerraall 29,692,805 1750,000 6,920,000 1871,805 2670,000 2200,000 1575,000 5600,000 1380,565 625,000 1235,435 865,000 3000,000 L/ After deducting $202,320,000 participations of other Federa lReserve Banks. Digitized for FRASER ?/ After deducting $44,712,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis