H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM March 26, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of dally figures of member bank reserves for the week ended March 25 increased $119 million to $18,558 million. Estimated required reserves increased $52 million; and estimated excess reserves increased $67 million to $431 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $169 million, compared with $l6l million the week before. The principal changes supplying average reserves were increases of $75 million in member bank borrowing sand $39 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $56 million in money in circulation. The principal offsetting changes were a decrease of $39 million in Federal Reserve float and an increase of $19 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $75 million. As of Wednesday, March 25# holdings of U. S. Government securities bought outright were $33 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $56 million lower, and member bank borrowings were $397 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, March 25, March 18, 1 March 26, March 25, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,461 + 42 +1,943 25,452 Held under repurchase agreement 49 - 3 + 15 22 Acceptances—bought outright 33 - 1 - 7 32 Loans, discounts, and advances— Member bank borrowings 600 + 75 + 436 572 Other 19 + 16 18 Float 961 - 39 - 22 746 Total Reserve Bank credit 27,123 + 75 +2,381 26,841 Gold stock 20,442 a* m -2.056 20,442 Treasury currency outstanding 5,246 + 2 + 66 5,246 52,811 + 77 + 391 52,529 Money in circulation 31,231 - 56 + 707 31,173 Treasury cash holdings 714 - 13 - 76 714 Treasury deposits with F. R. Banks 456 + 19 - 124 517 Foreign deposits with F. R. Banks 295 + 5 + 37 340 Other deposits with F. R. Banks 339 - 1 - 61 372 Other F. R. accounts (net) 1,218 + 4 + 75 1,219 34,253 TJ2 + 556 3^-, 335 „ Member bank reserves-- 18,558 +119 167 18,194 Required reserves (estimated) 18,127 + 52 + 90 17,948 Excess reserves (estimated) 431 + 67 - 257 246 On March 25, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,810 million, a decrease of $191 million for the week and an increase of $434 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 6P pbiflDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since March 25, March~ w~ March 26, 1959 . 1959 1958 A SS E T S Gold certificate account 18,939,894 10,003 -2,108,497 Redemption fund for F. R. notes 920,876 —2,856 + 65,144 Total gold certificate reserves 19,860,770 + 7,1^7 -27o53,353 F. R. notes of other Banks 461,624 + 5,672 - 41,452 Other cash 424,793 3,849 - 63,255 Discounts and advances 589,136 396,614 + 471,222 Industrial loans 5 327 502 Acceptances--bought outright 31,533 1,156 7,897 U. S. Government securities: Bought outright- Bills 1,451,000 32,800 + 661,740 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 25,452,062 32,"Boo +1,927,440 Held under repurchase agreement 22,000 56,000 + 22,000 Total U. S. Government securities 25,474,062 23,200 +1,949,440 Total loans and securities 26,094,736 - 421,297 +2,412,263 Due from foreign banks 15 Uncollected cash items 5,129,616 -1,545,830 + 600,005 Bank premises 95,022 + 226 + 9,386 Other assets 151,155 + 12,941 - 22,245 TOTAL ASSETS 52,217,731 -1,944,990 + 8517359 L I A B I L I T I ES Federal Reserve notes 26,946,424 75,826 + 473,497 Deposits: Member bank reserves 18,194,277 - 775,549 - 232,113 U. S. Treasurer--general account 516,617 + 93,774 - 106,242 Foreign 340,221 + 71,382 + 84,593 Other 371,615 + 26,962 - 21,863 Total deposits 19,422,730 - 583,431 - 275^25 Deferred availability cash items 4,383,342 -1,299,574 + 557,671 Other liabilities and accrued dividends 29,159 + 2,312 + 10,927 TOTAL LIABILITIES 50,781,655 -1,956,519 7 70 C A P I T AL A C C O U N TS Capital paid in 374,442 334 + 24,643 Surplus 868,410 1/+ 31,669 Other capital accounts . 193,224 11,195 " + 28,567 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,217,731 *1,944,99"0" " + 851,349 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.8$ .6# 4.6# Contingent liability on acceptances purchased for foreign correspondents 60,706 401 • 66,919 Industrial loan commitments 3.6 06 37 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 °n Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 25, 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 563,765 4 10,774 251,800 16 days to 90 days 25,273 1 20,759 1,033,700 91 days to 1 year 98 18,837,226 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 589,136 31,533 25T5757032 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 25, 1959 Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond)Atlanta Chicago L S o t ui . s M a i p n o n l e i - s Ka C n it sa y s Dallas Fra S n a ci n s co (In thousands of dollars) A S S E TS Gold certificate account 18,939,894 907,989 5,141,906 1027,542 1584,018 1053,071 924,009 3148,266 745,035 458,517 779,961 706,828 2462,752 Redemption fund for F„ R. notes 920,876 56,300 192,531 58,140 85,741 79,314 55,660 170,381 43,975 22,742 42,985 29,426 83,681 Total gold certificate 964,289 5,334,437 1085,682 1669,759 1132,385 979,669 3318,647 789,010 481,259 822,946 736,254 2546,433 reserves 19,860,770 F.R. notes of other Banks 461,624 30,286 111,620 18,182 29,452 49,779 87,474 33,060 13,810 12,735 8,970 22,930 43,326 Other cash 424,793 33,695 70,509 21,862 41,570 25,828 34,186 72,177 28,104 11,740 14,619 15,085 55,418 Discounts and advances 589,136 27,818 66,048 28,107 54,024 36,180 40,136 154,121 19,376 18,572 76,152 26,881 41,721 5 Industrial loans 5 Acceptances— Bought outright 31,533 31,533 IL, S. Govt, securities: Bought outright— Bills 1,451,000 79,004 365,896 83,409 128,450 94,449 73,831 253,460 59,192 30,525 61,933 56,837 164,014 Certificates 18,649,726 X156!l34 " 4 ' , '7 1 7 2 0 '3 . 2 I / , •1! 8 0 n 6 9 4 — n ^ 1 , 0 1 7 6 2 4 , ' 0 8 6 3 1 9 1 " 6 2 5 5 0 ^ , 8 9 5 6 1 7 1 * 2 1 a 1 8/-6 3 A1^ , A6 9 5 4 5 8 9 1 4 4 8 % , 9 9 1 5 0 % r- r 3 " \ 2 5 rs 5 0 7 6 , ; 7 9 r 3 0s 4 7r \ r 7 1y 6 1 n 0 6 , ^ n 7 9 9 7C 7 9 A 3 " 9 6 « 2 0 7 , ^C 3 3 n r\ 3 2 4 5 1 7 r1\ 9 2r\ 6 2 , ^ 0 3 2 9 6 6 i 7 1nC 3 1 2 0 1 ' , , 1 5 3 0 2 2 9 5 OO 2 3 C 1 2 0 4 8 ^ , O 1 0 3 O 7 5 l 2 i I OC Notes 2,867,565 115*216 626.127 142.777 219.876 161.674 126.382 433.865 101,323 ^2,251 106,015 97,292 280^3 Bonds 2.483,771 Total 25,452;062 1385)814 6,4l8,196 1463^086 2253,144 1656,726 1295,077 4445,966 1038,291 535,435 1086,370 996,983 2876,974 Held under repurchase agreement 22,000 22,000 Total U. S. Govt, sees. 25.474,062 1385.814 6.440.196 1463.086 2253.144 1656.726 1295.077 4445.966 1038,291 535.435 1086,370 996,983 2876,974 Total loans & securities 26,094,736 1413,632 6,537,777 1491,193 2307,168 1692,906 1335,213 4600,087 1057,667 55%,012 1162,522 1023,864 2918,695 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 JDue from foreign banks 15 Uncollected cash items 5,129,616 375,469 919,455 303,650 442,756 436,467 426,642 773,850 211,383 133,762 290,527 262,064 553,591 Bank premises 95,022 4,636 10,286 4,178 9,433 6,857 9,440 12,563 6,971 5,200 4,757 8,171 12,530 Other assets 151.155 8.297 17.319 8.430 13.594 9.733 8,633 25.264 6,299 ItiZS 1*262 6^211 16,93% 2830,305 13,021,407 2933,178 4513,733 3353,956 2881,258 8835,650 2113,245 1201,887 2311,604 2074,580 6146,928 TOTAL ASSETS 52,217,731 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.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE SANK ON MARCH 25, 1959 Total Boston New York Fhila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delp'nlal land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,946,424 1560,356 6,294,566 1692,956 2478,155 2038,549 1433,392 $154,946 1193,745 599,630 1082,654 762,949 2654,526 Deposits: Member hank reserves 18,194,277 788,559 5,137,309 847,316 1455,842 780,134 946,296 2681,370 654,397 419,015 867,525 955,588 2660,926 U.S.Treas.-gen.acct. 516,617 33,551 52,067 21,363 45,412 62,366 43,990 62,250 25,554 20,858 38,554 36,745 73,907 Foreign 340,221 18,425 1/99,021 22,110 30,150 16,750 15,745 49,580 12,395 8,040 13,065 17,420 37,520 Other 371,615 235 315,490 2,623 776 3,631 2,719 905 l,6ll 289 1,609 920 40,807 Total deposits 19,422,730 840,770 5,603,887 893,412 1532,180 862,881 1008,750 2794,105 693,957 448,202 920,753 1010,673 2813,160 Deferred availability cash items 4,383,342 346,082 724,016 250,699 370,751 376,437 369,000 668,309 168,928 117,451 249,457 226,047 516,165 Other liabilities and accrued dividends 29,159 2,298 7,041 1,338 2.847 1,426 1.329 4.600 1.001 1423 um 1,310 3,264 TOTAL LIABILITIES 50,781,655 2749,506 12,629,510 2838,405 4383,933 3279,293 2812,471 8621,960 2057,631 1166,816 2254,036 2000,979 5987,115 CAPITAL ACCOUNTS Capital paid in 374,442 18,434 108,269 22,182 35,707 16,790 18,943 51,498 12,595 8,575 15,322 21,749 44,378 Surplus 868,4io 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 193,224 12,249 44,726 12,984 17,450 13,027 10,370 30,033 9,273 5,711 9,311 8,4i6 19,674 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,217,731 2830,305 13,021,407 2933,178 4513,733 3353,956 2881,258 8835,650 2113,245 1201,887 2311,604 2074,580 6146,928 Conting. liab. on acceptances purchased for foreign correspondents 60,706 3,339 2/17,002 4,006 5,463 3,035 2,853 8,984 2,246 1,457 2,367 3,156 6,798 Industrial loan commit. 360 " — — 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,111,581 1655,369 6*602,339 1763,121 2550,718 2126,517 1505,582 5285,832 1246,609 614,147 1119,381 821,855 2820,111 Collat. for F. R. notes: Gold certificate acct. 10,755,000 580,000 2,920,000 640,000 920,000 700,000 475,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 11$,136 21,945 — — — — 18,725 -- 75,466 -- — U. S. Govt, securities 18,685,000 1150,000 4,000,000 1200.000 1750.000 1500.000 1100.000 ^OO.OQO 935.000 425,000 850,000 575,000 1700,000 Total collateral 29,556,136|l730,000 6,920,000 1861,945 2670,000 2200,000 1575,000 5500,000 1383,725 625,000 1225,466 865,000 3000,000 L/ After deducting $241,200,000 participations of other Federal Reserve Banks, \DJig it A iz f ed t f e or r F R d A e S d E u R c ting $43,704,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis