H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM March IP, ]>„9 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 ban kreserves for the week ended March 11 increased $46 million to $18,421 million. Estimated required reserves decreased $77 million; and estimated excess reserves increased $123 million to $475 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $228 million, compared with $177 millio nthe week before. The principal changes supplying average reserves were an increase of $174 million in member bank borrowings and a decrease of $80 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $102 million in Federal Reserve float and $31 million in gold stock, and an increase of $89 million in money in circulation. Total Reserve Bank credit increased $84 million. As of Wednesday, March 11, holdings of U. S. Government securities bought outright were $50 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $19 million lower, and member bank borrowings were $28 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 11, March 4, March 12, March 11, and related items 1959 1959 1958 1959 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 25,331 + 37 +1,899 25,339 Held under repurchase agreement 35 - 26 + 1 15 Acceptances— Bought outright 35 - 1 8 35 Held under repurchase agreement 2 + 1 + 2 Loans, discounts, and advances-- Member bank borrowings 703 +174 + 572 488 Other 20 + 1 + 19 19 Float 849 -102 + 33 712 Total Reserve Bank credit 26,976 + 84 +2,520 26,607 Gold stock 20,448 - 31 -2,167 20,443 Treasury currency outstanding + 2 + 68 5 >^43 + 421 52,293 Money in circulation 31,215 + 89. + 574 31,230 Treasury cash holdings 716 - 8 + 4 722 Treasury deposits with F. R. Banks 454 - 80 - 25 390 Foreign deposits with F. R. Banks 311 + 13 4- 38 304 Other deposits with F. R. Banks 336 - 3 + 43 342 Other F. R. accounts (net) 1,212 - 2 + 64 1,212 34,244 + 9 + 698 34,200 Member bank reserves-- 18,421 + 46 • 278 18,093 Required reserves (estimated) 17,9^6 - 77 - 150 18,050 Excess reserves (estimated) 475 +123 - 128 43 On March 11, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,896 million, an increase of $63 million for the week and an increase of $400 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since March 11, March 4, March 12, 1959 1959 1958 A S S E TS Gold certificate account 18,932,892 - 34,999 -2,227.502 Redemption fund for F. R. notes 922,944 - 2,563 + 62,105 Total gold certificate reserves 19,855,836 - frfife -2,165!397 F. R. notes of other Banks 483,054 - 4? 381 - 13 848 Other cash 439,396 - 24,044 - 50,268 Discounts and advances 506,225 - 28,418 + 279,249 Industrial loans 333 __ . ^8 Acceptances—bought outright 34 630 „ 1 -7 971 U. S. Government securities: ' Bought outright-- 1,337,500 + 49,800 + 614,190 + Certificates 18,649,726 - -1,296,379 2,867,565 - +2 867 565 Bonds 2,483.771 - - 305,486 Total bought outright 25,338,562 + IJOoo +1,879,890 Held under repurchase agreement 15,000 - 18.700 - 62 qoo Total U. S. Government securities 25,353,562 T~ 31,100 +1,617,590 Total loans and securities 25,894,750 + 2,681 +2,088,690 Due from foreign banks 15 Uncollected cash items 4,858,112 - 386,184 + 125,520 Bank premises 94,679 + 217 + 9,687 Other assets 134,176 + 13,294 - 22,819 TOTAL ASSETS 51,76o.©lS - 478 979 - '28 435 L I A B I L I T I ES Federal Reserve notes 27,043,331 + 27,302 + 494,321 Deposits: Member bank reserves 18,092,940 - 59,931 - 719,066 U. S. Treasurer'-general account 390,065 - 268,960 - 56,335 Foreign 304,428 + 14,423 + 23,486 „ Other 342,415 - 4,003 + 39.597 Total deposits 19,129,848 - 318 471 lS Deferred availability cash items 4,146,184 - 201,278 + 137 599 Other liabilities and accrued dividends 27,108 + 1 680 + 10*021 TOTAL LIABILITIES 50,346,471 - 49^767 : 70^377 C A P I T AL A C C O U N TS Capital~paid in" 373,933 + 631 + 24,443 Surplus 868,410 — l/+ 31,669 Other capital accounts 171,204 + 11,157 ~ - 14,170 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,760,018 - 478,979 - 28,435 Ratio of gold certificate reserves to deposit ' and F. R. note liabilities combined 43,0# + ,256 - 4,5# Contingent liability on acceptances purchased for foreign correspondents 61,705 - 424 - 68 051 Industrial loan commitments 360 - 534 1/ Net change after"elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 11, 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 499,597 228 10,381 124,200 16 days to 90 days 6,525 11 24,249 1,028,800 91 days to 1 year 103 40 - 18,849,226 Over 1 year to 5 years — 54 -- 3,881,179 Over 5 years to 10 years __ 206 495 OverJLO years - - - 1,263,662 Total 506,225 333 34,630 25,353,562 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.'t.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 11, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphla land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,932,892 828,267 5,082,066 984,505 1591,397 1056,161 949,563 3266,530 763,790 463,169 786,119 739,908 2421,417 Redemption fund for F. R. notes 922,944 54,589 193,659 58,574 86,166 80,642 55,977 170.834 44,094 21,922 43,089 29,501 83,897 Total gold certificate reserves 19,855,836 882,856 5,275,725 1043,079 1677,563 1136,803 1005,540 3437,364 807,884 485,091 829,208 769,409 2505,314 F.R. notes of other Banks 483,054 31,132 118,412 21,984 34,911 55,673 83,192 38,705 9,200 10,827 7,787 29,001 42,230 Other cash 439,396 35,243 79,249 25,385 41,600 25,865 31,239 79,121 28,576 12,590 13,676 16,075 50,777 Discounts and advances 506,225 60,631 37,679 23,228 37,752 28,401 45,510 164,043 20,852 6,139 59,922 12,868 9,200 6 Industrial loans 333 327 ^Acceptances— Bought outright 34,630 34,630 S. Govt, securities: Sought outright— Bills 1,337,500 72,824 337,275 76,885 118,402 87,061 68,056 233,634 54,562 28,137 57,089 52,391 151,184 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 25,338,562 1379^34 6,389,^575 1^56'562 2243J096 1649^338 1289,'302 4426,140 1033,661 533,047 1081,526 992,537 2864,144 Held under repurchase agreement 15,000 15,000 Total U. S. Govt, sees. 25,353,562 1379,634 6,404,575 1456.562 2243,096 1649,338 1289,302 4426,140 1033,661 533,047 1081,526 992,537 2864,144 Total loans & securities 25,894,750 1440,592 6,476,884 1479,790 2280,848 1677,739 1334,812 4590,183 1054,513 539,192 1141,448 1005,405 2873,344 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,858,112 339,861 898/747 300,735 419,318 389,909 428,823 764,337 213,879 125,185 248,969 231,665 496,684 Bank premises 94,679 4,636 10,243 4,201 9,354 6,884 9,318 12,377 6,958 5,199 4,757 8,169 12,583 Other assets 134,176 6,994 33.142 7,369 12,099 8.742 7.875 22.515 5,650 2,779 6,579 5,374 15,062 TOTAL ASSETS 51,760,018 2741,315 12,892,406 2882,544 4475,694 3301,616 2900,800 8944,604 2126,661 1180,863 2252,425 2065,095 5995,995 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

In thousands of dollars, l i a b i l i t i es 1565,744 6,294,080 1688,209 2488,467 2049,607 1445,704 5167,939 1200,098 597,731 1087,692 774,654 2683,466 Federal Reserve notes 27,0^3,331 HI Deposits: Member bank reserves 18,092,9^0 390,065 U.S.Treas.-gen.acct. 304,428 Foreign Other 342,415 785,672 5,494'/l(^ 847,363 1498,334 843,195 1014,679 2893,073 698,993 436,945 899,600 1013,353 2704,025 Total deposits 19,129,848 -Deferred availability 308,891 710,588 252,121 358,293 334,048 371,456 669,532 171,783 110,541 207,418 203,396 448,117 cash items 4,146,184 Other liabilities and accrued dividends 27,108 2661^87 12,506^287 2789^093 4347^870 322^^8 2833^094 8735A51 2071/879 1146,198 2195^62 1992>»7 5«3«,595 TOTAL LIABILITIES 50,346,471 CAPITAL ACCOUNTS ^Capital paid in 373,933 S3 IS S3 #§ # # 11 II If 868,410 Surplus Other capital accounts 171,204 TOTAL LIABILITIES AM) 2741,315 12,892,406 2882.544 4475.694 3301,616 2900,800 8944,604 2126,661 1180,863 2252,425 2065,095 ^995,995. 51,760,018 CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for 1,481 2,406 3,208 6,910 3,085 2,900 9,132 2,283 foreign correspondents 3,394 2/17,281 4,072 5,553 >0 Industrial loan commit. • 20 FEDERAL RESERVE AGENTS' ACCOUNTS 1659,085 6,613,277 1758,100 2561,094 2134,221 1511,819 5305,896 1246,296 610,795 1117,275 823,731 2830,o25 F. R. notes outstanding 28,172,214 Collat. for F. R. notes: 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 10,875,000 Gold certificate acct. op npo - - -- - - 20,1(5 y / y duo Eligible paper 101,403 ££ 18.685.000 U. S. Govt, securities Total collateral 29,661,403 1/ After deducting $209,520,000 participations of other Federal Reserve Banks. 2/ After deducting $44,424,000 participations of other Federal Reserve Banks- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis