H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BQAftZj OP GOVERNORS For Immediate Release B.4.1 OF THE FEDERAL RESERVE SYSTEM April 9, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT; ANI) RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ended April 8 increased $388 million to $18,711 million. Estimated required reserves increased $353 million; and estimated excess reserves increased $35 million to $508 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $164 million, compared with $139 Billion the week before. The principal changes supplying average reserves were increases of $206 million in U. S. Government securities held under repurchase agreement and $22 million bought outright, and $60 million in member bank borrowings ,and decreases of $164 million in "other" deposits with Federal Reserve Banks and $68 million in foreign deposits within Federal Reserve Banks. The principal offsetting changes were a decrease of $84 million in Federal Reserve float and an increase of $55 million in money in circulation. Total Reserve Bank credit increased $206 million. As of Wednesday, April 8, holdings of U. S. Government securities bought outright were $15 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $233 million higher, and member bank borrowings were $4l8 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 8, April 1, April 9, April 8, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,484 + 22 +1,856 25,493 Held under repurchase agreement 238 +206 + 238 233 Acceptance s--bought outright 31 + 1 - 8 30 Loans, discounts, and advances— Member bank borrowings 672 + 60 + 582 758 Other 18 •> «• + 18 18 Float 914 - 84 + 35 730 Total Reserve Bank credit 27,357 +206 +2,719 27,262 Gold stock 20,442 — — -1,852 20,441 Treasury currency outstanding 5,250 + 3 + 63 5,252 53,049 +209 + 930 52,955 Money in circulation 31,280 + 55 + 536 31,311 Treasury cash holdings 709 - 4 - 20 713 Treasury deposits with F. R. Banks 524 + 1 + 45 397 Foreign deposits with F. R. Banks 296 - 68 + 27 288 Other deposits with F. R. Banks 348 -164 - 145 344 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,180 - 1 + 74 1,180 34,337 -180 + 516 34,232 Member bank reserves- 18,711 +388 + 4ll 18,722 Required reserves (estimated) 18,203 +353 + 530 18,195 Excess reserves (estimated) 508 + 35 - 119 527 On April 8, 1959; U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,666 million, an increase of $60 million for the week and an increase of $399 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 April 8, April 1, April 9, 1959 1959 1958 A S S E TS Gold certificate account 18,939,891 + 1 -1,908,501 Redemption fund for F. R. notes 917,029 - 3,558 + 63,967 Total gold certificate reserves 19,856,920 - 3,557 -1, 844, 534 F. R. notes of other Banks 411,100 - 36,762 - 29,089 Other cash 401,179 - 16,848 - 30,587 Discounts and advances 775,281 + 418,016 + 636,248 492 Industrial loans 5 Acceptances—bought outright 29,980 • 1 9,443 U. S. Government securities: Bought outright— Bills 1,492,000 + 15,000 + 599,44o Certificates 18,649,726 — — -1,296,379 Notes 2,867,565 — W +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 25,493,062 + 15,000 +1,865,140 Held under repurchase agreement 232,900 + 232,900 + 232,900 Total U. S. Government securities 25,725,962 4- 247,900 +2,098,040 Total loans and securities 26,531,228 + 665,915 +2,724,353 Due from foreign banks 15 — — Uncollected cash items 4,700,950 - 524,545 + 321,035 Bank premises 94,983 + 63 + 9,016 Other assets 177,152 + 13,453 - , 25,344 TOTAL ASSETS 52,173, 527 + 97,719 +1,124,850 L I A B I L I T I ES Federal-Re serve notes ~ 27,000,167 + 37,382 + 472,490 Deposits: Member bank reserves 18,722,306 + 629,879 + 424,444 U. S. Treasurer—general account 397,233 - 136,634 - 84,743 Foreign 287,631 - 9,659 + 35,068 Other 343,711 • 36,285 - 63,246 Total deposits 19,750,681 + 447,301 + 311,523 Deferred availability cash items 3,970,477 * 401,613 + 282,627 Other liabilities and accrued dividends 29,317 * 3,163 + 11,320 TOTAL LIABILITIES 50,750,842 + 86,233 +1,077,960 C A P I T AL A C C O U N TS Capital paid in 374,993 + 203 + 24,954 Surplus 868,410 l/+ 31,669 Other capital accounts 179,282 + 11,283 - 9,733 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,173,527 + 97,719 +1,124,850 Ratio of gold certificate reserves to deposit .hi and F. R. note liabilities combined 42.5# - 4.7# Contingent liability on acceptances purchased for foreign correspondents 60,286 177 - 79,153 Industrial loan commitments 360 -- 645 ij Net change after elimination of Sec. 13b surplus of $2?,$43,000 on Sept. 2, 19$8 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 8, 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 753,152 1 9,730 583,200 16 days to 90 days 22,051 3 20,250 976,100 91 days to 1 year 78 1 18,815,326 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 775,281 29,980 25,725,962 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.U(Td) STATEMENT OF C0NDIT]C ON OF EACH FEDERAL RESERVE BANK ON APRIL 8, ]L 959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco of dollars) A S S E TS Gold certificate account 18,939,891 867,509 5,084,124 1045,154 1745,634 1075,713 916,704 3135,623 757,180 416,583 779,366 694,373 2421,928 Redemption fund for F. R. notes 917,029 56,102 191,662 57,820 85,437 78,356 55,434 170,012 43,876 22,620 42,901 29,352 83,457 Total gold certificate reserves 19,856,920 923,611 5,275,786 1102,974 1831,071 1154,069 972,138 3305,635 801,056 439,203 822,267 723,725 2505,385 F.R. notes of other Banks 411,100 28,367 102,174 19,915 24,841 42,103 81,578 26,668 8,535 11,722 6,400 20,399 38,398 Other cash 401,179 30,138 68,058 19,485 39,449 23,834 32,211 69,521 25,778 11,762 12,306 15,590 53,047 Discounts and advances 775,281 28,965 66,008 66,282 82,704 44,960 35,467 290,654 33,401 12,177 75,852 31,390 7,421 Industrial loans 5 5 -Acceptance s— Bought outright 29,980 29,980 U. S. Govt. securities: Bought outright— Bills 1,492,000 80,888 375,465 85,083 129,174 95,618 78,634 258,195 60,680 33,983 64,313 59,552 170,415 Certificates 18,649,726 1011,095 4,693,241 1063,519 1614,6561 195,224 982,915 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 2,483,771 134,658 625,046 141,639 215,040 159.180 190,905 429.821 101.015 , 56,573 107.063 99,137 283.694 Total 25,493,062 1382,106 6,415,360 1453,767 2207,138 1633,799 13*3,586 4411,626 1036,803 580,656 1098,879 1017,533 2911,792 Held under repurchase agreement 232,900 232.900 'Total U. S. Govt, sees. 25,725,962 1382,106 6,648,280 1453.767 2207,138 1633.799 1343.586 4411,626 1036.803 580.656 1098.879 1017.53) 2911.792 Total loans & securities 26,531,228 1411,071 6,744,268 1520,049 2289,842 1678,759 1379,053 4702,280 1070,204 592,838 1174,731 1048,920 2919,213 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,700,950 351,862 879,300 292,319 404,422 364,328 402,548 725,819 205,922 132,986 241,250 219,239 480,955 Bank- premi ses 94,983 4,601 10,246 4,178 9,405 6,945 9,444 12,557 6,965 5,187 4,743 8,149 12,563 "Other assets 177,152 9,680 43.728 9.851 15.527 11.223 10.289 29.594 7,330 4,002 8.485 7.113 20.330 TOTAL ASSETS 52,173,527 2759,331 13,123,564 2968,772 4614,558 3281,262 2887,262 8872,076 2125,791 1197,700 2270,183 2043,136 6029,892 1/ After deducting $11,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ Less than $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 8, 1959 Phila- Cleve- i St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land 1 Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,000,167 1562,738 6,298,985 1695,209 2477,456 2042,240 1449,956 5155,645 1197,147 602,012 1091,775 763,274 2663,730 Deposits: Member bank reserves 18,722,306 763,757 5,376,785 877,670 1581,542 798,390 966,984 2800,404 665,654 415,887 860,324 967,692 2647,217 U.S.Treas.-gen.acct. 397,233 42,875 17,904 29,953 32,164 37,926 34,086 29,551 29,023 20,787 49,705 29,951 43,308 Foreign 287,631 15,840 19,008 25,920 14,400 13,536 42,624 10,656 6,912 14,976 32,256 Other Wt.711 390 % 797 1,118 3,756 1,575 608 1,145 371 U'H 916 40,833 Total deposits 19,750,881 822,862 5,766,376 927,428 1640,744 854,472 1016,181 2873,187 706,478 443,957 922,047 1013,535 2763,614 Deferred availability cash items 3,970,477 292,191 660,775 250,777 365,123 309,358 351,613 627,134 166,175 115,862 198,239 192,003 441,227 Other liabilities and accrued dividends 29,317 1,478 9,051 1,427 2,662 1,444 1,317 4,771 932 983 1,132 1,144 2,976 TOTAL LIABILITIES 50,750,842 2679,269 12,735,187 2874,841 4485,985 3207,514 2819,067 8660,737 2070,732 1162,014 2213,193 1969,956 5071,547 CAPITAL ACCOUNTS Capital paid in 374,993 l8,44l 108,330 22,198 35,771 16,791 18,967 51,621 12,610 8,585 15,340 21,765 44,574 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 179,282 11,505 41,145 12,126 16,159 12,111 9,754 27,559 8,703 5,516 8,715 7,979 18,010 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,173,527 2759,331 13,123,564 2968,772 4614,558 3281,262 2887,262 8872,076 2125,791 1197,700 2270,183 2043,136 6029,892 Conting. liab. on acceptances purchased for foreign correspondents 60,286 3,316 2/16,870 3,980 5,427 3,015 2,834 8,924 2,231 1,447 2,352 3,136 6,754 Industrial, loan commit. 360 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,954,242 1645,939 6,552,347 1752,468 2533,217 2124,450 1500,789 5254,955 1230,4536 614,916 1117,409 813,098 2808,010 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,755,000 EElliiggiibbllee ppaappeerr 173,036 -- -- 65,120 -- -- -- -- 32,750 *• 75,l66 -- -- 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 29,613,036 1730,000 6,920,000 1905,120 2670,000 2200,000 1575,000 5500,000 1397,750 625,000 1225,166 865,000 3000,000 1/ After deducting $207,3(> 0,000 partLiC ipations of other Federal Reserve Banks. 2/ After deducting $43,4] l6,000 partLjc ipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis