H.4.1 Factors Affecting Reserve Balances of Depository Institutions

/ BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM April 23, 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 daily figures of member bank reserves for the week ended April 22 increased $119 million to $18,817 million. Estimated required reserves increased $20 million; and estimated excess reserves increased $99 million to $612 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $137 million, compared with $190 million the week before. The principal changes supplying average reserves were increases of $314 million in Federal Reserve float and $46 million in member bank borrowings, and a decrease of $33 million in money in circulation. The principal offsetting changes were decreases of $211 million in U. S. Government securities held under repurchase agreement and $34 million bought outright, and $31 million in gold stock. Total Reserve Bank credit increased $115 million. As of Wednesday, April 22, holdings of U. S. Government securities bought outright were $25 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $213 million lower, and member bank borrowings were $96 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 22, April 15, April 23, April 22, and related items _ 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,511 - 34 +1,807 25,563 Held under repurchase agreement 33 -211 + 25 - - Acceptances-- Bought outright 30 - 1 - 9 29 Held under repurchase agreement 1 + 1 + 1 - — Loans, discounts, and advances-- Member bank borrowings 749 + 46 + 637 996 Other 18 + 18 18 — Float 1,130 +314 + 140 778 Total Reserve Bank credit 27,472 +115 +2,618 Gold stock 20, 409 - 31 -1,672 20,331 Treasury currency outstanding 5,254 + 1 + 61 5, 255 53,136 + 87 +1;008 52,970 Money in circulation 31,332 - 33 + 715 31,246 Treasury cash holdings 705 - 7 - 16 710 Treasury deposits with F. R. Banks 456 - 15 + 39 496 Foreign deposits with F. R. Banks 286 + 7 + 44 247 Other deposits with F. R. Banks 362 + 19 - 14 333 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,178 - 3 + 76 1,178 34,319 - 32 + 845 34,210 Member bank reserves— 18,817 +119 + 163 18,760 Required reserves (estimated) 18,205 + 20 + 150 l67lS5 Excess reserves (estimated) 612 + 99 + 13 615 On April 22, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,604 million, a decrease of $60 million for the -week and an increase of $452 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HtU.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since April 22, April 15, April 23, 1959 1959 1958 A S S E TS Gold certificate account 18,829,891 - 100,001 -1,783,501 Redemption fund for F. R. notes 914.228 - 1 + 66,621 Total gold certificate reserves 19,744,119 - 100,002 -1,716,880 F. R. notes of other Banks 415,232 + 23,785 6l,361 Other cash 397,687 + 5,273 36,146 Discounts and advances 1,014,061 + 95,860 + 772,006 Industrial loans 4 490 Acceptances—"bought outright 28,984 8,444 U. S. Government securities: Bought outright— Bills 1,562,300 24,900 + 593,690 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2.483,771 - 305,486 Total bought outright 25,563,362 - 24,900 +1,859,390 Held under repurchase agreement - 212.900 Total U. S. Government securities 25,563,362 - 237,800 +1,859,390 Total loans and securities 26,606,411 - 141,938 +2,622,462 Due from foreign banks 15 Uncollected cash items 5,648,727 - 491,859 + 726,813 Bank premises 95,213 + 36 + 8,790 Other assets 202.410 + 12,742 : TOTAL ASSETS 53,109.814 - 691,963 +1,513,659 L I A B I L I T I ES Federal Reserve notes 26,926,906 - 79,593 + 555522,,007788 Deposits: Member bank reserves 1188,,776600,,001188 - 152,588 + 204,550 U. S. Treasurer—general account 495,540 3,874 + 33,274 Foreign 247,314 9,948 + 19,891 Other 332.949 9,940 - 62,233 Total deposits 19,835,821 - 176,350 + 195,482 Deferred availability cash items 4,871,108 - 446,937 + 709,848 Other liabilities and accrued dividends 29,878 278 + 10,347 TOTAL LIABILITIES - 703,158 +1,467,755 C A P I T AL A C C O U N TS Capital paid in 376,233 157 + 25,960 Surplus 868,410 l/+ 31,669 Other capital accounts 201.458 11.038 ±hl21 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53.109.814 - 691.963 +1.513 659 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42,2% 4.4# Contingent liability on acceptances purchased for foreign correspondents 56,910 1,182 72,905 Industrial loan commitments 360 647. 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 22, 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 991,281 11,102 415,890 16 days to 90 days 22,714 17,882 956,010 91 days to 1 year 66 18,840,126 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 1,014,061 T 28,984 25^533^352 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 APRIL 22, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (in thousands of dollarsj A S S E TS Gold certificate account 18,829,891 843,532 5,012,710 1035,342 1660,341 993,645 898,449 3236,274 735,363 403,602 745,035 726,094 2539,504 Redemption fund for P. R. notes 914,228 55,955 191,005 57,597 85,227 77,611 55,249 169,740 43,828 22,531 42,841 29,306 83,338 Total gold certificate reserves 19,744,119 899,487 5,203,715 1092,939 1745,568 1071,256 953,698 3406,014 779,191 426,133 787,876 755,400 2622,842 F.R. notes of other Banks 415,232 31,128 107,034 20,609 20,568 43,461 76,453 26,715 11,388 10,171 7,866 18,435 4l,4o4 Other cash 397,687 29,141 72,086 18,181 35,867 25,414 32,851 66,496 26,395 12,443 13,361 13,815 51,637 Discounts and advances 1,014,061 28,114 269,708 44,022 100,218 97,180 49,677 202,905 31,351 18,892 97,405 61,018 13,571 Industrial loans 4 Acceptances— Bought outright 28,984 28,984 U. S. Govt, securities: Bought outright— Bills 1,562,300 84,700 393,156 89,092 135,261 100,124 82,339 270,360 63,539 35,584 67,343 62,358 178,444 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 2,483,771 134,658 625,046 141,639 215,040159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 25,563,362 1385,918 IT,433,071 1457,77o"2213,225 1038,305 1357,29T%423,791 1039,662 582,257 1101,909 1020,3W2919,321 Held under repurchase agreement Total U. S. Govt, sees. 25,563,362 1385,918 6,433,071 1457,776 2213,225 1638,305 1347,291 4423,791 1039,662 582,257 1101,909 1020,336 2919,821 Total loans & securities 26,6o6,4ll 1414,032 6,731,763 1501,798 2313,443 1735,485 1396,968 4626,696 1071,013 601,153 1199,314 1081,354 2933,392 Due from foreign hanks 15 1 1 /4 1 1 1 1 2 1 2/ 1 l 1 Uncollected cash items 5,648,727 428,984 1,016,102 354,381 519,236 439,164 506,504 881,465 232,771 150,262 288,219 263,362 568,277 Bank premises 95,213 4,601 10,252 4,156 9,393 6,938 9,442 12,675 6,969 5,209 4,743 8,320 12,515 Other assets 202,410 lit109 50,070 11,273 17,663 12,843 11,662 33,932 8,368 4,578 9,528 8,377 23,007 TOTAL ASSETS 53,109,814 2818,483 13,191,026 3003,338 4661,739 3334,562 2987,579 9053,995 2136,096 1209,949 2310,908 2149,064 6253,075 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 & 8 I CON OF EACH FEDERAL RESERVE BANK ON APRIL 22, 1959- Phila- Cleve- I , St. Minne- Kansas San Total Boston New York delphia land [Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,926,906 1564,791 6,278,983 1697,591 2477,154 2024,457 1439,212 5151,162 1193,076 600,159 1089,144 764,248 2646,929 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 18,760,018 734,657 5,281,766 854,136 1538,268 795,156 992,380 2831,689 649,744 408,456 870,460 1008,474 2794,832 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 495,540 24,120 65,592 20,728 35,215 48,418 23,160 66,452 40,898 25,326 43,036 31,466 71,129 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 247,314 13,035 1/76,674 15,642 21,330 11,850 11,139 35,076 8,769 5,688 9,243 12,324 26,544 OOOOOttttthhhhheeeeerrrrr 332,949 525 "283.647 1,303 745 2,984 983 423 1,351 288 820 909 38,971 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,835,821 772,337 5,707,679 891,809 1595,558 858,408 1027,662 2933,640 700,762 439,758 923,559 1053,173 2931,476 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,871,108 398,515 802,163 317,157 455,699 375,011 449,679 749,022 185,363 133,646 239,096 256,168 509,589 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 29,878 1,647 7,749 1,473 2,882 1,518 1,499 4,726 1,056 1,035 1,147 1,467 3,679 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,663,713 2737,290 12,796,574 2908,030 4531,293 3259,394 2918,052 8838,550 2080,257 1174,598 2252,946 2075,056 6091,673 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 376,233 18,449 108,407 22,260 35,816 16,830 19,243 51,659 12,620 8,600 15,355 21,771 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 201,458 12,628 47,143 13,441 17,987 13,492 10,810 31,627 9,473 5,966 9,672 8,801 20,4l8 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,109,814 2818,483 13,191,026 3003,338 4661,739 3334,562 2987,579 9053,995 2136,096 1209,949 2310,908 2149,064 6253,075 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 56,910 3,130 2/15,942 3,755 5,121 2,845 2,674 8,421 2,105 1,366 2,219 2,959 6,373 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 «»» •• — — 20 »• — — — — — — •» 340 *• •• FEDERAL RESERVE AGENTS 'ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,918,643 1642,314 6,537,980 1756,463 2533,654 2112,087 1500,095 5252,415 1242,978 615,048 1114,056 807,989 2002,744 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,755,000 580,000 2,920,000 64o,ooo 920,000 700,000 475,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 162,279 -- -— 34,860 -- — — — -- 30,700 —- 96,719 •* 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,685,000 TToottaall ccoollllaatteerraall 29,602,279 1730,000 6,920,000 1874,860 2670,000 2200,000 1575,000 5500,000 1395,700 625,000 1246,719 865,000 3000,000 , JL/ After deducting $170,640,000 part: LCipations of other Federal Reserve Banks. 2/ After deducting $40,968,000 part: Icipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis