H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOAED OF GOVERitOkS For Immediate Release OF THE FEDERAL RESERVE SYSTEM March 19, 1959 H.4.1 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 March 18 increased fl8 million to $18,439 million. Estimated required reserves increased $164 million; and estimated excess reserves decreased $146 million to $364 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $l6l million, compared with $193 millio nthe week before. The principal changes supplying average reserves were increases of $151 million in Federal Reserve float and $105 million in Federal Reserve holdings of U. S. Government securities, and decreases of $21 million in foreign deposits with Federal Reserve Banks and $17 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $1?8 million in member ban kborrowings and an increase of $72 million in money in circulation. Total Reserve Bank credit increased $72 million. As of Wednesday, March 18, holdings of U. S. Government securities bought outright were $81 million higher than a week earlier ,U. S, Government securities held under repurchase agreement wer e$63 million higher, an dmember bank borrowings were $480 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, March 18, March 11, March 19, March 18, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,419 + 88 +1,989 25,419 Special certificates -- 50 -- Held under repurchase agreement 52 + 17 + 32 78 Acceptances- Bought outright 34 - 1 6 33 Held under repurchase agreement - 2 Loans, discounts, and advances-- Member bank borrowings 525 -178 + 400 967 Other 19 - 1 + 18 19 Float 1,000 illi + 27 993 Total Reserve Bank credit 27,0^ + 72 +2,410 27,509 Gold stock 20,442 - 6 -2,099 20,442 Treasury currency outstanding 5,244 + 2 + 66 5,245 52,734 + 377 537195 Money in circulation 31,287 72 695 31,241 Treasury cash holdings 727 11 77 730 Treasury deposits with F. R. Banks 437 17 + 180 423 Foreign deposits with F. R. Banks 290 21 + 33 269 Other deposits with F. R. Banks 340 4 28 345 Other F. R. accounts (net) 4*214 2 64 1,218 34,295 51 Wf 34,226 Member bank reserves-- 18,439 +18 - 491 18,970 Required reserves (estimated) wm rm - 257 18^206 Excess reserves (estimated) 364 -146 - 234 764 On March 18, 1959, U. S. Government securities held in custody by the Federal Reserve Bank for foreign account were $4,001 million, an increase of $105 million for the week and an increase of $596 million from 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 BANKS COMBINED (In thousands of dollars) Change since March 18, March 11, March 19, 1959 ... 1??? 1958 A SS E T S Gold certificate account 18,929,891 3,001 -2,130,501 Redemption fund for F. R. notes 923,732 788 + 66,034 Total gold certificate reserves 19,853,623 2,213 -2,064,457 F. R. notes of other Banks 455,952 • 27,102 - 35,080 Other cash 428,642 • 10,754 - 61,427 Discounts and advances 985,750 H 479,525 + 754,910 Industrial loans 332 1 142 Acceptances—bought outright 32,689 1,941 5,736 U. S. Government securities: Bought outright— Bills 1,418,200 80,700 + 716,440 Certificates 18,649,726 -1,296,379 2,867,565 +2,867,565 Notes Bonds 2,483,771 - 305,486 Total bought outright 25,419,262 + 80,700 +1,982,140 Held under repurchase agreement 78,000 +_ 63,000 + 78,000 Total U. S. Government securities 25,497,262 + I5377OO +2,060,145 Total loans and securities 26,516,033 + 621,283 +2,809,172 Due from foreign banks 15 Uncollected cash items 6,675,446 +1,817,334 + 162,700 Bank premises 94,796 + 117 + 9,358 Other assets 138,214 + 4,038 - 22,679 TOTAL ASSETS 54,162,721 +2,402,703 + 797,577 L I A B I L I T I ES 27,022,250 21,081 + 471,765 Federal Reserve note¥ Deposits: Member bank reserves 18,969,826 + 876,886 1,914 U. S. Treasurer—general account 422,843 + 32,778 + 322,689: Foreign 268,839 35,589 + 25,878' Other 344,653 + 2,238 - 65,858 Total deposits 20,006,161 + 876,313 + 280,795 Deferred availability cash items 5,682,916 +1,536,732 6,179 Other liabilities and accrued dividends 26,847 261 + 10,458 TOTAL LIABILITIES 52,738,174 +2,391,703 + 7557539 C A P I T AL A C C O U N TS Capital paid in 374,108 175 + 24,423 Surplus 868,410 1/+ 31,669 Other capital accounts 182,029 + 10,825 - 15,354 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,162,721 +2,402,703 + 797,577 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 42.2$ - .8$ - 5*2$ Contingent liability on acceptances purchased for foreign correspondents 60,305 - 1,400 - 66,967 Industrial loan commitments 360 — - 669 1/ Net change after elimination of Sec, 13b surplus of $27,543,000 on Sept. 2, 195q« MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 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 979,762 231 11,185 180,900 16 days to 90 days 5,890 14 21,504 1,108,300 91 days to 1 year 98 38 18,856,726 Over 1 year to 5 years 49 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 985,750 332 32,689 25,497,262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON MARCH 18, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York IRichmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,929,891 897,610 5,210,741 1050,778 1529,585 1023,400 926,339 3075,020 774,437 444,380 788,389 750,366 2458,846 Redemption fund for F. R. notes 923,732 56,452 193,180 58,388 85,977 80,082 55,823 170,627 44,039 22,842 43,047 29,470 83,805 Total gold certificate 954,062 5,403,921 1109,166 1615,562 1103,482 982,162 3245,647 818,476 467,222 831,436 779,836 2542,651 reserves 19,853,623 F.R. notes of other Banks 455,952 28,573 117,592 20,211 32,317 53,865 82,666 30,896 9,803 11,855 5,991 20,214 41,969 Other cash 428,642 34,476 72,468 24,832 42,345 26,338 32,096 74,896 27,738 11,536 13,698 15,275 52,944 Discounts and advances 985,750 49,581 204,074 30,563 34,152 46,876 49,960 398,053 9,827 5,139 77,107 19,068 61,350 Industrial loans 332 327 5 Acceptances— Bought outright 32,689 32,689 S. Govt, securities: Sought outright— Bills 1,418,200 77,218 357,625 81,524 125,546 92,314 72,162 247,731 57,854 29,835 60,533 55,552 160,306 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 25,419,262 1384,028 6,409,925 1461,201 2250,240 1654,591 1293,408 4440,237 1036,953 534,745 1084,970 995,698 2873,266 Held under repurchase agreement 78,000 Total U. S. Govt, sees. 25,497,262 1384,028 6,487,925 1461,201 2250,240 1654,591 1293,408 4440,237 1036,953 534,745 1084,970 995.698 2873.266 1433,936 6,724,688 1491,764 2284,392 1701,467 1343,368 4838,290 1046,780 539,889 1162,077 1014,766 2934,616 Total loans & securities 26,516,033 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 6,675,446 452,712 1,381,470 402,559 602,658 517,616 561,394 985,484 261,619 160,168 329,570 331,404 688,792 Bank premises 94,796 4,636 10,243 4,201 9,433 6,888 9,318 12,395 6,971 5,200 4,757 8,171 12,583 Other assets 138,214 7,333 33,984 7,731 12,336 8.924 7,997 23,106 5,798 2,893 6,768 5,790 15,554 TOTAL ASSETS 54,162,721 2915,729 13,744,370 3060,465 4599,044 3418,581 3019,00 29210,716 2177,186 1198,763 2354,298 2175,457 6289,110 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 MARCH 18,1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land jRichmond Atlanta Chicago Louis apolis City Dallas Francisco " (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,022,250 1563,403 6,294,726 1690,816 2487,444 2047,483 1445,752 5170,443 1198,797 600,702 1086,235 765,773 2670,676 Deposits: Member bank reserves 18,969,826 827,084 5,492,577 872,884 1451,565 807,133 975,377 2871,277 657,162 395,557 870,153 1013,773 2735,284 U.S.Treas.-gen.acc t. 422,843 16,647 118,187 22,269 28,365 29,057 8,572 65,166 21,254 19,014 49,255 24,364 20,693 Foreign 268,839 14,355 1/80,919 17,226 23,490 13,050 12,267 38,628 9,657 6,264 10,179 13,572 29,232 Other 344,653 513 "290,186 1,274 1,174 3,836 1,765 480 694 265 2,673 1,196 40,597 Total deposits 20,006,161 858,599 5,981,869 913,653 1504,594 053,076 997,901 2975,551 608,767 421,100 932,260 1052,905 2025,006 Deferred availability cash items 5,682,916 412,137 1,072,025 360,585 475,568 442,673 505,658 848,556 233,524 141,106 277,664 282,519 630,901 Other liabilities and accrued dividends 26,84? 1,378 6,737 1,299 2,626 l,4o6 1,369 4,636 913 995 1,062 1,248 3,178 TOTAL LIABILITIES 52,738,174 2835,517 13,355,357 2966,353 4470,23 23344,638 2950,760 8999,186 2122,001 1163,903 2297,221 2102,445 6130,561 CAPITAL ACCOUNTS i^Bapital paid in 374,108 18,429 108,265 22,160 35,711 16,773 18,905 51,469 12,581 8,570 15,317 21,553 44,375 ""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 182,029 11,667 41,846 12,345 16,458 12,324 9,863 27,902 8,858 5,505 8,825 8,023 18,413 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,162,721 2915,729 13.744,370 3060,465 4599,044 3418,581 3019,002 9210,716 2177,186 1198,763 2354,298 2175,457 6289,110 Conting. liab. on acceptances purchased for foreign correspondents 60,305 3,311 2/16,961 3,973 5,4l8 3,010 2,830 8,910 2,227 1,445 2,348 3,130 6,742 Industrial loan commit. 360 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,166,551 1653,083 6,613,746 1762,225 2561,540 2138,559 1508,944 5301,032 1245,559 615,202 1117,405 819,875 2829,381 Collat. for F. R. notes: 10,855,000 580,000 2,920,000 640,000 920,000 700,000 475,000 2100,000 430,000 200,000 300,000 290,000 1300,000 Gold certificate acct. Eligible paper 114,898 29,355 -- — -- — 9,150 — 76,393 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 U. S. Govt, securities Total collateral 29,654,898 1730,000 6,920,000 1869,355 2670,000 2200,000 1575,000 5600,000 1374,150 625,000 1226,393 865,000 3000,000 l/ After deducting $187, 920,000 participations of other Federal Reserve Banks, 2/ After deducting $43, 344,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis