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 30, 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 29 decreased $266 million to $18,551 million. Estimated required reserves decreased $112 million; and estimated excess reserves decreased $154 million to $458 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $198 million, compared with $137 million the week before. The principal changes reducing average reserves were decreases of $230 million in Federal Reserve float, $93 million in member bank borrowings, and $79 million in gold stock, and an increase of $104 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $64 million in Federal Reserve holdings of U. S. Government securities, and decreases of $88 million in money in circulation and $42 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $260 million. As of Wednesday, April 29, holdings of U. S. Government securities bought outright were $60 million higher than a week earlier and member bank borrowings were $480 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, April 29, April 22, I April 30, April 29, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,608 + 97 +1,996 25,623 Held under repurchase agreement - - - 33 - 14 -- Acceptances-- Bought outright 31 + 1 - 7 29 Held under repurchase agreement - 1 -- Loans, discounts, and advances-- Member bank borrowings 656 - 93 + 531 516 Other 18 -• • + 18 18 Float 900 -230 + 123 801 Total Reserve Bank credit 27, 212 -260 +2,646 26,987 Gold stock 20, 330 - 79 -1,694 20, 330 Treasury currency outstanding 5,257 + 3 + 63 5,257 52,799 -337 +1,014 52,575 Money in circulation 31,244 - 88 + 724 31,276 Treasury cash holdings 705 - 27 710 Treasury deposits with F. R. Banks 560 +104 - 41 466 Foreign deposits with F. R. Banks 271 - 15 + 36 274 Other deposits with F. R. Banks 333 - 29 - 64 335 Other F. R. accounts (net) 1,136 - 42 + 85 1,136 34,246 - 71 + 713 34,196 Member bank reserves-- 18,551 -266 + 302 18,378 Required reserves (estimated) 18,093 -112 + 439 18,112 Excess reserves (estimated) 458 -154 - 137 266 On April 29, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,586 million, a decrease of $18 million for the week and an increase of $518 million from the comparable Digitizedda ftore F RaA SyEeRa r ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF1 THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since April 29, April 22, April 30, 1959 1958 A SS E T S Gold certificate account 18,829,892 + 1 -1,733,500 Redemption fund for F. R. notes 910,544 - 3,684 + 65,213 Total gold certificate reserves 19,740,436 - 3,603 -1,668,287 F. R. notes of other Banks 388,900 - 26,332 - 52,198 Other cash 394,063 - 3,624 - 24,053 Discounts and advances 533,768 - 480,293 + 377,829 Industrial loans 4 *" •» 499 Acceptances—bought outright 28,984 -- 8,432 U. S. Government securities: Bought outright-- Bills 1,621,900 + 59,600 + 676,190 Certificates 18,649,726 •» - -l, 296,379 Notes 2,867,565 — - +2,867,565 Bonds 2,483,771 — — - 305,486 Total bought outright 25,622,962 + 59,600 +1,941,890 Held under repurchase agreement Total U. S. Government securities 25,622,962 + 59,600 +1,941,890 Total loans and securities 26,185,718 420,693 +2,310,788 Due from foreign banks 15 -- — Uncollected cash items 5,355,334 - 293,393 + 516,046 Bank premises 95,243 + 30 + 8,675 Other assets 214,932 + 12,522 - 31,043 TOTAL ASSETS 52,374,641 - 735,173 +1,059,928 L I A B I L I T I ES Federal Reserve notes 26,921,659 - 5,247 + 547,059 Deposits: Member bank reserves 18,378,235 * 381,783 + 124,288 U. S. Treasurer—general account 465,859 - 29,681 - 128,275 Foreign 273,515 + 26,201 + 16,723 Other 334,964 + 2,015 - 76,254 Total deposits 19,452,573 - 383,248 - 63,518 Deferred availability cash items 4,554,086 - 317,022 + 512,111 Other liabilities and accrued dividends 32,023 + 2,145 + 13,570 TOTAL LIABILITIES 50,960,341 - 703,372 +1,009,222 C A P I T AL A C C O U N TS Capital paid in 377,401 + 1,168 + 27,024 Surplus 868,4io •» — 1/+ 31,669 Other capital accounts 168,489 - 32,969 7,987 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,374,641 - 735,173 +1,059,928 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.6% + .4$ 4.1$ Contingent liability on acceptances purchased for foreign correspondents 56,212 698 - 75,249 Industrial loan commitments 360 -- 636 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 °n Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 29, 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 509,590 9,248 4l6,290 16 days to 90 days 24,049 19,736 969,310 91 days to 1 year 129 18,886,026 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 533,768 ™TT 28,984 25,622,962 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 OH APRIL 29, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,829,892 840,166 5,072,226 1059,339 1706,879 993,266 864,204 3295,437 691,898 407,549 709,398 674,782 2514,748 Redemption fund for F. R. notes 910,544 55,758 190,254 57,274 84,883 76,762 55,002 169,385 43,742 22,388 42,751 29,243 83.102 Total gold certificate reserves 19,740,436 895,924 5,262,480 1116,613 1791,762 1070,028 919,206 3464,822 735,640 429,937 752,149 704,025 2597,850 F.R. notes of other Banks 388,900 30,274 98,650 19,352 22,192 38,246 67,800 28,406 10,024 10,987 7,009 17,740 38,220 Other cash 394,063 28,821 72,227 18,213 37,364 26,066 30,424 64,611 24,929 12,442 13,580 14,644 50,742 Discounts and advances 533,768 51,152 63,973 11,632 24,016 51,004 61,402 70,983 27,751 26,417 91,677 13,390 40,371 Industrial loans 4 4 Acceptances— Bought outright 28,984 28,984 U. S. Govt, securities: Bought outright— Bills 1,621,900 87,931 408,155 92,491 140,421 103,943 85,480 280,674 65,963 36,941 69,912 64,737 185,252 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 56,573 107,063 99.137 281.694 Total 25,622,962 1389,149 6,448,070 1461,175 2218,385 1642,124 1350,432 4434,105 1042,086 583,6l4 1104,478 1022,715 2926,629 Held under repurchase agreement Total U. S. Govt, sees. 25,622,962 1389,149 6,448,070 1461,175 2218,385 1642,124 1350,432 4434,105 1042.086 583.6l4 1104,478 1022.715 2926.629 Total loans & securities 26,185,718 1440,301 6,541,027 1472,807 2242,401 1693,128 1411,834 4505,088 1069,837 610,035 1196,155 1036,105 2967,000 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,355,334 381,839 999,196 324,820 521,835 403,849 445,177 875,054 224,028 139,526 244,044 271,715 524,251 Bank premises 95,243 4,566 10,252 4,156 9,391 6,957 9,540 12,675 6,950 5,187 4,743 8,320 12,506 Other assets 214,932 11,843 52,765 11,950 18.844 13,784 12,293 36,387 8,848 4.848 10.072 8.829 24.469 TOTAL ASSETS 52,374,641 2793,569 13,036,601 2967,912 4643,790 3252,059 2896,275 8987,045 2080,257 1212,962 2227,753 2061,379 6215,039 1/ After deducting $11,000 participations of other Federal Reserve Banks. D2ig/iti zeLde fosrs F RtAhSEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 29, 1959 Total Boston New York U S' RicM°nd Atlanta Chicago ^ Dallas LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,921,659 1559,298 6,279,538 1698,373 2472,792 2022,945 1448,272 5142,568 1193,168 600,962 1088,457 762,961 2652,325 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,378,235 766,923 5,114,250 866,221 1542,668 767,486 945,930 2796,315 613,244 427,899 825,354 952,826 2759,119 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 465,859 31,005 65,271 18,875 42,220 34,195 16,228 59,818 27,133 22,426 42,694 17,060 88,934 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 273,515 14,300 1/86,315 17,160 23,400 13,000 12,220 38,480 9,620 6,240 10,l40 13,520 29,120 OOOOOttttthhhhheeeeerrrrr 334,964 386 288,435 741 680 2,520 1,293 683 1,283 241 703 817 37,182 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,452,573 812,614 5,554,271 902,997 1608,968 817,201 975,671 2895,296 651,280 456,806 878,891 984,223 2914,355 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,554,086 340,502 808,167 271,677 430,972 337,046 402,643 735,122 179,943 119,329 202,501 239,765 486,419 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 32,023 1,696 7,725 1,485 3,491 1,735 1,699 4,864 1,207 1,059 1,314 1,574 4,174 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,960,341 2714,110 12,649,701 2874,532 4516,223 3178,927 2828,285 8777,850 2025,598 1178,156 2171,163 1968,523 6057,273 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 377,401 18,449 109,457 22,270 35,819 16,851 19,252 51,678 12,620 8,607 15,358 21,776 45,264 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 168.489 10,894 38,541 11,503 15,105 11,435 9,264 25,358 8,293 5,4l4 8,297 7,644 l6,?4l TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,374,641 2793,569 13,036,601 2967,912 4643,790 3252,059 2896,275 8987,045 2080,257 1212,962 2227,753 2061,379 6215,039 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 56,212 3,091 2/15,748 3,709 5,058 2,810 2,642 8,318 2,079 1,349 2,192 2,922 6,294 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,964,215 1649,023 6,555,995 1747,932 2537,333 2107,890 1512,502 5256,322 1244,126 616,054 1120,005 809,773 2807,260 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 128,561 •*"" "" 10,470 •*" •• "• •• 27,100 "" 90,991 •* ~ — 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 29,568,561 1730,000 6,920,000 1850,470 2670,000 2200,000 1575,000 5500,000 1392,100 625,000 1240,991 865,000 3000,000 1/ After deducting $187,200,000 parti. cipations of other Federal Reserve Banks, ,2/ After deducting $40,464,000 parti. cipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis