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 16, 1959 WEEKLY AVERAGES OF MEMBER BAH RESERVES, RESERVE BANK CREDIT, AND 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 15 decreased $13 million to $18,698 million. Estimated required reserves decreased $38 million; and estimated excess reserves increased $25 million to $533 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $170 million, compared with $164 million the week before. The principal changes reducing average reserves were a decrease of $98 million in Federal Reserve float and an increase of $85 million in money in circulation. The principal offsetting changes were increases of $67 million in Federal Reserve holdings of U. S. Government securities and $31 million in member bank borrowings, and a decrease of $53 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased less than $500 thousand. As of Wednesday, April 15, holdings of U. S. Government securities bought outright were $95 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $20 million lower, and member bank borrowings were $14] million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 15, April 8, April 16, 1A pril 15, and related items 1959 1959 1958 1959 (In millions of cL ollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 25,545 + 61 +1,934 25, 588 Held under repurchase agreement 244 + 6 + 222 213 Acceptances--bought outright 31 -- - 9 29 Loans, discounts, and advances-- Member bank borrowings 703 + 31 + 504 901 Other 18 — — + 18 18 Float 816 - 98 - 13 823 Total Reserve Bank credit 27,357 - - +2,656 27,571 Gold stock 20,440 - 2 •1,759 20,431 Treasury currency outstanding 5,253 + 3 + 61 5,253 53,049 + 957 53,255 Money in circulation 31,365 + 85 + 632 31,355 Treasury cash holdings 712 + 3 - 19 708 Treasury deposits with F. R. Banks 471 - 53 + 14 499 Foreign deposits with F. R. Banks 279 - 17 - 4o 257 Other deposits with F. R. Banks 343 - 5 - 38 343 Other F. R. accounts (net) 1,181 + l + 77 1,180 34,351 Ti% + 628 34,343 Meniber bank reserves-- 18,698 - 13 + 329 18,913 Required reserves (estimated) 18,165 - 3d + 4n 18,223 Excess reserves (estimated) 533 + 25 - 82 690 On April 15, 1959; U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,664 million, a decrease of $2 million for the week and an increase of $447 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) since April 15, April 8, April 16, 1959 1959 1958 A S S E TS Gold certificate account 18,929,892 9,999 -1,808,499 Redemption fund for F. R. notes 914,229 ~ 2,800 + 63,453 Total gold certificate reserves 19,844,121 - 12,799 -1,745,046 F. R. notes of other Banks 391,44? - 19,653 - 47,761 Other cash 392,4l4 - 8,765 - 33,817 Discounts and advances 918,201 + 142,920 + 621,761 Industrial loans 4 - 1 494 Acceptances—bought outright 28,982 998 - 10,447 U. S. Government securities: Bought outright-- Bills 1,587,200 + 95,200 + 618,590 Certificates 18,649,726 — -1,296,379 Notes 2,867,565 • —— +2,867,565 Bonds 2,483,771 -- - 305,486 Total bought outright 25,588,262 + 95,200 +1,884,290 Held under repurchase agreement 212,900 - 20,000 + 120,900 Total U. S. Government securities 25,001,162 + 75,200 +2,005,190 Total loans and securities 26,748,349 + 217,121 +2,616,010 Due from foreign banks 15 Uncollected cash items 6,140,586 +1,439,636 + 371,153 Bank premises 95,177 + 194 + 8,938 Other assets 189,668 + 12,516 - 27,469 TOTAL ASSETS 53301,777 +1,628, 250 +1,142,008 L I A B I L I T I ES Federal Reserve notes 27,006,499 + 6,332 + 518,708 Deposits: Member bank reserves 18,912,606 + 190,300 + 42,684 U. S. Treasurer—general account 499,4l4 + 102,181 + 105,829 Foreign 257,262 - 30,369 - 1,775 Other 342,889 - 822 - 40,965 Total deposits 20,012,171 + 261,290 + 105,773 Deferred availability cash items 5,318,045 +1,347,568 + 458,338 Other liabilities and accrued dividends 30,156 + 839 + 12,235 TOTAL LIABILITIES 52,366,871 +1,616,029 +1,095,054 C A P I T AL A C C O U N TS Capital paid In™ 376,076 + 1,083 + 25,902 Surplus 868,4lo -- 1/+ 31,669 Other capital accounts 190,420 + 11,138 - 10,617 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,801,777 +1,628,250 +1,142,008 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.2$ - • 3$ 4.3$ Contingent liability on acceptances purchased for foreign correspondents 58,092 - 2,194 - 77,186 Industrial loan commitments 360 -- - otj 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 15, 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 895,845 12,468 531,700 16 days to 90 days 22,280 3 16,514 1,081,600 91 days to 1 year 7 6 1 18,836,526 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 918,201 T 28,982 25,801,162 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 15, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Delias Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,929,892 857,117 4,917,829 1048,982 1680,491 1058,060 895,093 3316,153 738,875 424,104 809,170 704,710 2479,308 Redemption fund for F. R. notes 914.229 55.955 191.005 57,597 85.227 77.611 55,249 169.740 43,828 22,532 42,841 29,306 83,338 Total gold certificate reserves 19,844,121 913,072 5,108,834 1106,579 1765,718 1135,671 950,342 3485,893 782,703 446,636 852,011 734,016 2562,646 F.R. notes of other Banks 391,447 27,926 102,515 18,162 19,291 37,944 72,202 24,695 9,845 12,248 8,4i4 20,900 37,305 Other cash 392,4l4 28,710 72,114 19,167 38,380 24,397 29,460 66,530 24,001 11,228 12,809 14,954 50,664 Discounts and advances 918,201 35,364 231,598 57,517 112,526 54,830 33,877 243,737 21,401 20,192 61,848 17,540 27,771 Industrial loans 4 4 Acceptances— Bought outright 28,982 28,982 U.S. Govt. securities: ,-Bought outright— Bills 1,587,200 86,050 399,422 90,512 137,416 101,719 83,652 274,669 64,552 36,151 68,4l6 63,352 181,289 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 111344..665588 662255..004466 114411,.663399 221155,.004400 115599,.118000 1133U0,,y9v0>5 Q4d2i9., 8x2u1x. u1x0?1,015 ?o5,6. 507(3j 1-0L7i>,f0,6uo33 cu9j9,, 137 283,694 Total 25,588,262 1387,268 6,439,337 1459,196 2215,380 1639,900 1348,604 4428,100 1040,675 582,824 1102,982 1021,330 2922,m - JHeld under repurchase agreement 212.900 212,900 JTotal U. S. Govt, sees. 25,801,162 1387,268 6,652.237 1459.196 2215.380 1639,900 1348.6o4 4428.100 1040,675 582,824 1102,982 1021,330 2922,666 Total loans & securities 26,748,349 1422,632 6,912,817 1516,713 2327,906 1694,730 1382,481 4671,837 1062,076 603,020 1164,830 1038,870 2950,437 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2 / 11 1 Uncollected cash items 6,140,586 436,778 1,125,323 372,319 596,288 478,627 542,654 985,958 258,509 166,919 294,900 289,057 593,254 Bank premises 95,177 4,601 10,247 4,178 9,392 6,945 9,444 12,566 6,969 5,209 4,743 8,320 12,563 Other assets 189.668 10.424 46.848 10.584 16.393 12.036 10,992 31,743 7.840 4,298 8,?64 7,868 21,678 TOTAL ASSETS 53,801,777 2844,144 13,378,702 3047,703 4773,369 3390,351 2997,576 9279,224 2151,944 1249,558 2346,672 2113,986 6228,548 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.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 15, 1959 Total Boston New York (Richmond Atlanta Chicago ^ ^ Dallas LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,006,499 1564,815 6,296,074 1700,410 2480,588 2037,666 1445,963 5166,562 1197,511 604,078 1091,895 764,116 2656,821 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,912,606 741,067 5,340,025 896,574 1577,491 804,909 970,699 2921,271 656,088 428,021 888,958 966,060 2721,443 UUUUU»»»»»SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 499,414 28,082 66,876 20,703 29,994 54,085 29,489 67,351 20,591 27,222 46,444 38,087 70,490 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 257,262 14,190 1/71,502 17,028 23,220 12,900 12,126 38,184 9,546 6,192 10,062 13,416 28^896 OOOOOttttthhhhheeeeerrrrr 342,889 321 292,162 1,162 875 3,380 1,895 449 519 390 710 1,050 39,976 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,012,171 703,660 5, f70,565 935,467 1631,580 875,274 1014,209 3027,255 686,7# 461,025 946,174 1018,613 2860,865' " DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,318,045 413,480 911,494 315,759 529,014 401,473 466,992 867,386 211,296 147,394 250,065 256,339 547,353 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 30,156 1,554 9,124 1,432 2,655 1,452 1,455 4,629 963 1,152 1,100 1,327 3,313 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 52,366,871 2763,509 12,987,257 2953,060 4643,037 3315,065 2920,619 9065,832 2096,514 1214,449 2289,234 2040,395 6068,292" CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 376,076 18,449 108,370 22,243 35,811 16,843 19,192 51,631 12,611 8,593 15,344 21,766 45,223 SSSSSuuuuurrrrrpppppllllluuuuusssss 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 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 190,420 12,070 44,173 12,785 17,078 12,797 10,291 29,602 9,073 5,731 9,159 8,389 19,272 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,801,777 2844,144 13,378,702 3047,703 4773,369 3390,351 2997,576 9279,224 2151,944 1249,558 2346,672 2113,986 6228,548 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 58,092 3,195 2/16,260 3,835 5,229 2,905 2,731 8,599 2,150 1,394 2,266 3,021 6,507 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 — —— — — 20 — — — — — — — — — 340 — — .. FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,957,275 1648,460 6,549,976 1754,847 2537,241 2119,918 1504,288 5258,630 1232,279 617,234 1119,372 811,064 2803,966 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 133,267 51,355 — — — — 20,750 -- 6l,l62 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 29,573,267 1730,000 6,920,000 1891,355 2670,000 2200,000 1575,000 5500,000 1385,750 625,000 1211,162 865,000 3000,000 Xf After deducting $105,760,000 parti. cipations of other Federal Reserve Banks. 2/ After deducting $41,832,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis