H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM April 2, 1959 * WEEKLY AVERAGES OF MEMBER 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 April 1 decreased $235 millio nto $18,323 million. Estimated required reserves decreased $234 million; and estimated excess reserves decreased $1 millio nto $473 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $139 million, compared with $12 6million the week before. The principal changes reducing average reserves were increases of $173 million in "other" deposit swith Federal Reserve Banks, $69 million in foreign deposits with Federa lReserve Banks, and $67 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of ^ $37 million in Federal Reserve float and a decrease of $37 millio nin other F.R. accounts (net). Total Reserve Bank credit increased $28 million. As of Wednesday, April 1, holdings of U. S. Government securities bought outright were $26 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $22 million lower, and member bank borrowings were $232 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 1, March 25, April 2, April 1, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,462 +1,837 25,478 Held under repurchase agreement 32 + 32 Acceptances--bought outright 30 10 30 Loans, discounts, an dadvances- Member bank borrowings 612 + 468 340 Other 18 + 17 18 Float 998 + 222 853 Total Reserve Bank credit 27,151 +2,565 26,719 Gold stock 20,442 -1,952 20,442 Treasury currency outstanding 5,247 + 63 5,247 52,840 + 676 52,408 Money in circulation 31,22* + 588 31,211 Treasury cash holdings 71-3-7 11 715 Treasury deposits with F. R. Banks 523 534 Foreign deposits with F. R. Banks 364 + 87 297 Other deposits with F. R. Banks 512 + 144 380 Other F. R. account s(net) 1,181 + 72 1,179 357517 T~m 34,316 Member bank reserves— 18,323 - 203 18,092 Required reserves (estimated) 17,850 + 20 17,813 Excess reserves (estimated) 473 - 223 279 On April 1, 1959, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,606 million, a decrease of $204 million for the week and an increase of $305 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 BAMS COMBINED (In thousands of dollars) Change since April 1, March 25, April 2, 1959 1959 1958 A S S E TS Gold certificate account 18,939,890 4 -2,008,503 Redemption fund for F. R. notes 920,587 289 + 64,945 Total gold certificate reserves 19,S5O>77 293 -1,943,558 F. R. notes of other Banks 447,862 - 13,762 + 4,894 Other cash 418,027 6,766 46,466 Discounts and advances 357,265 - 231,871 + 244,829 Industrial loans 5 473 Acceptances—bought outright 29,981 1,552 9,448 U. S. Government securities: Bought outright-- Bills 1,477,000 26,000 + 584,440 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds ?=• Total bought outright 25,478,062 + 26,000 +1,850,140 Held under repurchase agreement 22,000 Total U. S. Government securities 25,478,062 + Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments O 81 +1,850,140 25,865,313 229,423 +2,085,048 15 5,225,495 95,879 + 772,145 94,920 102 + 9,305 163,699 12,544 24,163 52,075,808 141,923 857,205 26,962,785 + 16,361 + 422,505 18,092,427 - 101,850 - 273,102 533,867 + 17,250 - 68,850 297,290 - 42,931 + 17,964 379,996 + 8,381 : 2*555 19,303,580 - 119,150 - 326,543 4,372,090 - 11,252 + 704,355 26,154 - 3,005 + 9,256 50,664,609 -117,046 + 809,573 374,790 + 348 + 24,889 868,410 -- 1/+ 31,669 167,999 25,225 ~ 8,926 52,075,808 141,923 + 857,205 42.9# 4.3# 60,463 243 76,352 360 665 1/ Met change after elimination of Sec, 13b surplus of $27,543,000 on Sept. 2, 19?o MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 1, 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 330,610 1 8,518 252,600 16 days to 90 days 26,557 3 21,463 1,043,100 91 days to 1 year 98 1 18,831,026 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years -1463*662 Total 357,265 29,981 25,478,062 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL I, 1959 H.4.1(b) Total Boston New York P d h e i l l p a hi - 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 i s t a y s Dallas Fra S n a c n is co (In thousands of dollars) A S S E TS Gold certificate account 18,939,890 888,587 5,085,424 1079,443 1687,117 1032,833 890,163 3275,987 734,113 450,959 756,225 701,452 2357,587 Redemption fund for F. R. notes 920,587 56,291 192,502 58,128 85,715 79,287 55,637 170,325 43,963 22,735 42,972 29,413 83,619 Total gold certificate reserves 19,860,477 944,878 5,277,926 1137,571 1772,832 1112,120 945,800 3446,312 778,076 473,694 799,197 730,865 2441,206 F.R. notes of other Banks 447,862 33,109 105,932 20,419 31,610 45,698 86,165 30,530 12,867 13,483 6,018 19,437 42,594 Other cash 418,027 32,708 70,603 19,875 41,846 25,186 31,771 71,925 26,857 11,281 13,722 16,529 55,724 Discounts and advances 357,265 18,268 37,453 16,762 6,192 25,535 21,942 127,731 10,276 15,832 66,522 7,881 2,871 5 Industrial loans 5 Acceptances— Bought outright 29,981 29,981 -- -- -- " -- -- -- U. S. Govt, securities: Bought outright— Bills 1,477,000 80,075 371,690 84,228 127,876 94,657 77,844 255,598 60,070 33,641 63,666 58,953 168,702 Certificates 18,649,726 1011,095 4,693,241 1063,519 1614,656 1195,224 982,915 3227,372 758,484 424,785 803,897 744,385 2130,153 Notes 2,867,565 155,465 721,628 163,526 248,268 183,777 151,132 496,238 116,624 65,315 123,606 114,456 327,530 Bonds 2,483,771 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 ^6,573 107,063 99,137 283,694 Total 25,478,062 1381,293 6,411,605 1452,912 2205,840 1632,83% 1342,79b 4409,029 1036,193 580,314 1098,232 1016,931 2910,079 Held under repurchase agreement 1381,293 6.411,605 1452.912 2205,840 1632,838 1342,796 4409,029 1036.193 580,314 1098,232 1016,931 2910,079 Total U. S. Govt, sees. 25.478,062 1399,561 6,479,039 1469,674 2212,032 1658,373 1364,738 4536,760 1046,469 596,151 1164,754 1024,812 2912,950 Total loans & securities 25,865,313 1 1/4 1 l l 1 21 2/ 1 1 1 Due from foreign banks 15 Uncollected cash items 5,225,495 359,444 1,057,789 355,415 470,613 390,728 415,537 847,107 214,810 131,955 254,290 235,353 492,454 Bank premises 94,920 4,601 10,240 4,178 9,399 6,945 9,443 12,555 6,950 5,187 4,743 8,149 12,530 3.700 7,878 6,632 18,568 Other assets 163,699 9,036 40.113 9,106 14,504 10,392 9,598 27,371 6,801 2783,338 13,041,646 3016,239 4552,837 3249,443 2863,053 8972,562 2092,831 1235,451 2250,603 2041,778 5976,027 TOTAL ASSETS 52,075,808 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2it/ize dL feors FsR AtShERa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON IIP RIL 1, 1L 959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco Tin L I A B I L I T I ES Federal Reserve notes 26,962,785 1561,032 6,299,892 1695,043 2473,417 2043,680 1436,765 5149,762 1195,711 598,571 1086,530 762,925 2659,457 Deposits: Member bank reserves 18,092,427 742,065 5,051,834 885,517 1476,594 751,523 948,221 2785,627 634,477 453,958 826,558 951,852 2584,201 U.S»Treas.-gen.acct. 533,867 37,251 88,692 45,422 29,743 39,733 28,990 77,551 23,438 24,292 51,703 37,393 49,659 16,500 1/81,290 19,800 27,000 15,000 14,100 44,400 11,100 7,200 11,700 15,600 33,600 Foreign 297,290 Other 379,996 351 "318,498 4,615 872 3,873 1,563 788 512 438 2,972 1,020 44,494 Total deposits 19,303,580 "796,157 5,540,314 955,354 1534,209 810,129 992,874 2908,366 669,527 485,868 892,933 1005,865 2711,954 Deferred availability cash items 4,372,090 345,187 809,708 271,215 414,789 321,233 364,300 700,741 171,995 115,195 213,584 199,198 444,945 Other liabilities and accrued dividends 26,154 1.439 6.351 1,341 2,817 1.353 1,449 4,462 949 1,138 1,130 1,032 2,693 TOTAL LIABILITIES 50"75£4,1>09 2703,825 12,656,265 2922,953 4425,232 3176,395 2795,388 8763,331 2038,182 1200,792 2194,177 1969,020 5819,049 CAPITAL ACCOUNTS Capital paid in 374,790 18,439 108,300 22,197 35,721 16,790 18,951 51,582 12,604 8,582 15,ja© 21,753 44,543 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 167,999 10,958 38.179 11,482 15,241 11,412 9.240 25,490 8,299 5,292 8,163 7,569 16,674 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,075,808 2783,338 13,041,646 3016,239 4552,837 3249,443 2863,053 8972,562 2092,831 1235,451 2250,603 2041,778 5976,027. Conting. liab. on acceptances purchased for foreign correspondents 60,463 3,327 2/16,903 3,993 5,445 3,025 2,843 8,954 2,239 1,452 2,360 3,146 6,776 Industrial loan commit. 360 20 340 FEDERAL RESERVE AGENTS' ACCOUTRE F. R. notes outstanding " ^ 4 1 ^ 7 5 4 35 1499,777"5261,576 1235,983 612,697 1111,454 816,942 2797,990 Collat. for F. R. notes: 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 Gold certificate acct. 10,755,000 Eligible paper 91,061 15,600 — — — — 9,625 — 65,836 U. S. Govt, securities 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 Total collateral 29,531,061 1730,000 6,920,000 1855J600 2670,000 2200,000 1575,000 5500,000 1374,625 625,000 1215,836 865,000 3000,000 1/ After deducting $216,000,000 participations of other Federal Reserve Banks 2/ After deducting $43,560,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis