H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM May 7> 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 May 6 increased $20 million to $18,571 million. Estimated required reserves increased $25 million; and estimated excess reserves decreased $5 million to $399 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $276 million, compared with $252 million the week before. The principal changes supplying average reserves were increases of $98 million in U. S. Government securities bought outright and $102 million held under repurchase agreement. The principal offsetting changes were a decrease of $68 million in gold stock and an increase of $125 million in money in circulation. Total Reserve Bank credit increased $212 million. As of Wednesday, May 6, holdings of U. S. Government securities bought outright were $206 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $112 million higher, and member bank borrowings were $329 million higher. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended ,WW eeddnneessddaayy,, RReesseerrvvee BBaannkk ccrreeddiitt,, May 6, April 29, I May 7, MMaayy 66,, aanndd rreellaatteedd iitteemmss 1959 1959 1 1958 11995599 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,706 + 98 +1,907 25,829 Held under repurchase agreement 102 +102 + 102 112 Acceptances--bought outright 30 - 1 - 8 29 Loans, discounts, and advances-- Member bank borrowings 675 + 19 + 557 845 Other 18 — — + 18 18 Float 893 - 7 + 85 763 Total Reserve Bank credit 27,424 +212 +2,661 27,595 Gold stock 20,262 - 68 -1,706 20,255 Treasury currency outstanding 5,259 + 2 + 62 5,260 52,944 +145 +1,016 53,110 Money in circulation 31,369^ 1 +125 + 710 31,4l4 Treasury cash holdings 719—i + 5 - 28 723 Treasury deposits with F. R. Banks 542 - 18 + 9 542 Foreign deposits with F. R. Banks 256 - 15 - 31 263 Other deposits with F. R. Banks 360 + 27 - 26 391 Other F. R. accounts (net) 1,136 *» •» + 87 1,137 3^, 373 +125 + 721 34,470 Member bank reserves— 18,571 + 20 + 295 18,64o Required reserves (estimated) 18,172 + 25 + 525 18,149 Excess reserves (estimated) 399 - 5 - 230 491 On May 6, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,498 million, a decrease of $88 million for the week and an increase of $366 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 6, April 29, May 7, 1959 1959 1958 A S S E TS . Gold certificate account 18,754,892 75,000 -1,763,501 Redemption fund for F. R. notes 907,852 - 2,692 + 67,678 Total gold certificate reserves 19,662,744 - 77,692 -1,395,323 F. R. notes of other Banks 352,014 ~ 36,886 - 39,324 Other cash 378,788 15,275 4,786 * Discounts and advances 862,673 + 328,905 + 737,991 Industrial loans 4 — 505 Acceptances--bought outright 28,984 -- 9,918 U. S. Government securities: Bought outright-- Bills 1,827,600 + 205,700 + 711,290 Certificates 18,649,726 -- -1,296,379 Notes 2,867,565 —— +2,867,565 Bonds 2,483,771 — - 305,486 Total bought outright 25,828,662 + 205,700 +1,976,990 Held under repurchase agreement 111,800 + in, 800 + 111,800 Total U. S. Government securities 25,940,462 + 317,500 +2,088,790 Total loans and securities 26,832,123 + 646,405 +2,816,358 Due from foreign banks 15 — — Uncollected cash items 4,997,103 358,231 + 546,536 Bank premises 95,168 - 75 + 8,386 Other assets 228,480 + 13,548 - 32,442 TOTAL ASSETS 52,546,435 + 171,794 +1,598,905 L I A B I L I T I ES Federal~Reserve—notes"" ~ 27,016,378 + 94,719 + 566,232 Deposits: Member bank reserves 18,639,588 + 261,353 + 317,392 U. S. Treasurer--general account 541,608 + 75,749 + 182,705 Foreign 263,047 10,468 - 24,455 • Other 390,899 + 55,935 + 17,504 Total deposits 19,835,142 + 38^ 5& + 493,146 Deferred availability cash items 4,233,777 - 320,309 + 473,880 Other liabilities and accrued dividends 35,182 + 3,159 + 15,534 TOTAL LIABILITIES 51,120,479 + 160,138 +1,548,792 C A P I T AL A C C O U N TS Capital paid""in 377,560 + 159 + 27,097 Surplus 868,410 «• — 1/+ 31,669 Other capital accounts 179,986 + 11,497 - 8,653 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,546,435 + 171,794 +1,598,905 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.0$ - .6# 4.6$ Contingent liability on acceptances purchased for foreign correspondents 58,292 + 2,080 - 73,663 Industrial loan commitments 360 632 -- 543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 6, 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 838,423 1 9,324 622,740 16 days to 90 days 24,136 3 19,660 '(..acu-ys 984,860 91 days to 1 year 114 ,0 % 981, 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 662,673 T 28,984 25,940,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 6, 1959 Phila- Cleve St. Minne- Kansas Total Boston New York Richmond Atlanta Chicago Dallas delphia land . Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,754,892 866,680 4,936,183 1076,610 1673,210 1032,751 867,913 3289,068 713,322 401,698 681,638 692,707 2523,112 Redemption fund for F. R. notes 907,852 55,629 189,545 57,087 84,701 75,910 54.868 169.188 43.688 22.122 42.708 29.207 82.999 Total gold certificate reserves 19,662,744 922,309 5,125,728 1133,697 1757,911 1108,661 922,781 3458,256 757,010 424,020 724,346 721,914 2606,111 F.R. notes of other Banks 352,014 25,809 96,537 16,973 16,169 36,069 64,623 22,581 8,360 10,602 5,441 18,445 30,405 Other cash 378,788 28,630 70,529 17,932 34,717 25,214 30,483 62,179 22,842 12,702 13,950 13,422 46,188 Discounts and advances 862,673 34,072 192,818 6,112 61,732 74,295 73,502 179,281 25,851 35,572 114,177 34,240 31,021 Industrial loans 4 4 Acceptances— Bought outright 28,984 28,984 U. S. Govt. securities: Bought outright— Bills 1,827,600 99,083 459,919 104,221 158,230 117,126 96,322 316,271 74,329 41,626 78,779 72,947 208,747 Certificates 18,649,726 1011,095 4,693,2.41 1063,519 1614,656 1195,224 982,915 3227,372 758,484 424,785 803,897 744,385 2130,153 Notes 2,867,565 155,465 721,628 163,526 248,263 183,777 151,132 496,238 116,624 65,315 123,606 114,456 327,530 Bonds 2,483,771 134,653 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56^73 107,063 22V117__-29^6Q4„ Total 25,-323,T6125 00,301 6,499,1%4 1472,965 2236,194 1655,307 136i%27lTR69,702 1050,452 588,299 1113,345 1030,925 2950,124 Held under repurchase agreement 111,800 Total U. S. Govt, sees. 25, 94Q, 4621 400,301 6,6.11,634 1472,905 2236,194 1655,307 1361,274 4469,702 1050,452 588,299 1113.345 1030.925 2950.124 Total loans & securities 2.6,632,123 1434,373 6,833,436 1479,017 2297,926 1729,602 1434,776 4648,983 1076,303 623,875 1227,522 1065,165 2981,145 Due frcaa foreign banks 15 1 1/ 4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,997,103 365,064 904,988 328,270 451,368 414,563 427,599 773,031 210,382 135,878 265,469 224,380 496,111 Bank premises 95,168 4,566 10,220 4,159 9,366 6,970 9,543 12,661 6,948 5,202 4,729 8,298 12,506 Other assets 228,480 12,534 56,419 12,753 20.095 14.464 13,008 38.876 9.402 5.116 10.628 9.182 2.6.003 TOTAL ASSETS 52,546,435 2793,286 13,097,861 2992,802 4587,553 3335,544 2902,814 9016,569 2091,248 1217,395 2252,086 2060,807 6198,470 1/ After deducting $11,000 participations of other * Federa lReserve Banks. Digi2tiz/e d Lfoer sFRs AStEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MAY 6, 1959 Phila- Cleve- 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 Federal Reserve notes 27,016,378 1564,747 6,292,854 1702,691 2476,091 2023,884 1455,359 5156,625 1196,071 605,559 1094,002 763,936 2684,559 Deposits: Member bank reserves 18,639,588 750,451 5,221,233 868,516 1542,844 823,852 964,323 2869,496 631,215 427,652 816,229 981,401 2742,376 U.S.Treas.-gen.acct. 541,608 44,367 61,056 23,984 31,767 52,708 24,756 73,903 32,563 23,117 56,996 35,213 81,178 Foreign 263,047 13,640 1/84,487 16,368 22,320 12,400 11,656 36,704 9,176 5,952 9,672 12,896 27,776 Other 390,899 418 335,500 986 980 3,253 1,780 562 922 410 988 1,161 43,939 Total deposits 19,835,142 808,876 5,702,276 909,854 1597,911 892,213 1002,515 2980,665 673,876 457,131 883,885 1030,671 2895,269 Deferred availability cash items 4,233,777 337,252 702,941 284,410 381,518 343,784 374,665 662,516 165,025 118,516 215,759 191,553 455,838 Other liabilities and accrued dividends 35,182 2,360 9,727 1,758 3,473 1,799 1,643 5,625 1,182 1,208 1,328 1,356 3,723 TOTAL LIABILITIES 51,120,479 2713,235 12,707,798 2898,713 4458,993 3261,600 2034,182 8005,431 2036,154 1102,414 2194,974 1987,51b 6039,309 CAPITAL ACCOUNTS Capital paid in 377,560 18,471 109,457 22,330 35,848 16,851 19,257 51,679 12,626 8,610 15,373 21,793 45,265 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 179,986 11,464 41,704 12,152 16,069 12,167 9,901 27,300 8,722 5,586 8,804 8,062 18,055 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 52,546,435 2791.286 13,097,861 2992,802 4587,553 3335,544 2902,814 9016,569 2091,248 1217,395 2252,086 2060,807 6198,470 Conting. liab. on acceptances purchased for foreign correspondents 58,292 3,206 2/16,316 3,848 5,247 2,915 2,740 8,628 2,157 1,399 2,274 3,032 6,530 Industrial loan commit. 2§0 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,954,045 1643,456 6,544,478 1752,426 2534,336 2102,183 1515,331 5249,118 1242,832 617,706 1119,763 808,640 2823,776 Collat. for F. R. notes: Gold certificate acct. 10,725,000 580,000 2,920,000 640,000 920,000 670,000 475,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 143,641 -- 4,950 •* -- -• •- 25,200 — 113,491 -- -- 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 29,553,641 1730,000 6,920,000 1844,950 2670,000 2170,000 1575,000 5500,000 1390,200 625,000 1263,491 865,000 3000,000 1/ After deducting $178,5 60,000 participations of other Federal Reserve Banks, 2/ After deducting $4l, 976,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis