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 l4, 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 13 decreased $21 million to $18,550 million. Estimated required reserves decreased $113 million; and estimated excess reserves increased $92 million to $491 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $218 million, compared with $276 million the week before. The principal changes reducing average reserves were a decrease of $98 million in Federal Reserve float and an increase of $136 million in money in circulation. The principal offsetting changes were increases of $202 million in Federal Reserve holdings of U. S. Government securities and $34 million in member bank borrowings. Total Reserve Bank credit increased $139 million. As of Wednesday, May 13, holdings of U. S. Government securities bought outright were $149 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $4 million lower, and member bank borrowings were $210 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, May 13, May 6, May 14, May 13, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 2255,,99^^00 ++223344 +2,009 25,977 Held under repurchase agreement 70 - 32 + 70 108 Acceptances-- Bought outright 30 — - 10 2299 Held under repurchase agreement 1 + 1 + 1 Loans, discounts, and advances— Member bank borrowings 709 ++ 33%% + 558866 663355 Other 18 - - + 18 18 Float 795 - 98 35 764 Total Reserve Bank credit 277563 +139 +2,709 27,530 Gold stock 20,251 - 11 -1,635 20,244 Treasury currency outstanding 5,262 + 3 + 63 5,263 53,077 +133 +1,13d 53,037 Money in circulation 31,505 +136 4- 693 31,482 Treasury cash holdings 710 31 717 -- - Treasury deposits with F. R. Banks 521 - 21 4- 51 504 Foreign deposits with F. R. Banks 269 + 13 25 255 - Other deposits with F. R. Banks 383 + 23 - 3 387 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,139 + 3 + 93 1,139 3k, 527 +15 u 4- 777 34,484 Member bank reserves-- 18,550 - 21 4* 360 18,553 Required reserves (estimated) 18,059 -113 4- 531 18,259 Excess reserves (estimated) 491 + 92 171 294 - On May 13, 1959; U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,613 million, an increase of $115 million for the week and an increase of $517 million from the comparable Digitizdeda ftoer FaR yAeSEaRr ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELV EFEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 13, May 6, May 14, 1959 1959 1958 A S S E TS Gold certificate adcount 18,754> 892 -1,688,499 Redemption fund for F* R. notes 907,851 + 71,920 Total gold certificate reserves 19,662,743 1 -1,616,579 F. R. notes of other Banks 344,576 7,438 - 28,962 Other cash 363,767 15,021 1,370 Discounts and advances 652,340 210,333 + 536,690 Industrial loans 4 500 Acceptance s- -bought outright 28,983 - 10,748 U. S. Government securities: Bought outright— Bills 1,976,300 148,700 + 774,990 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2, *83,771 - 305,486 Total bought outright 25,977,362 148,700 +2,040,690 Held under repurchase agreement 107,600 4,200 + 107,600 Total U. S. Government securities 26,084,9^2 144,500 +2,148,290 Total loans and securities 26,766,289 65,834 +2,673,732 Due from foreign banks 15 Uncollected cash items 5,836,607 + 839,504 + 436,104 Bank premises 95,648 + 480 + 8,468 Other assets 241,618 + 13,138 - 34,161 TOTAL ASSETS 53,311,263 + 764,828 +1,437,232 L I A B I L I T I ES Federal Reserve notes 27,063,280 + 46,902 + 563,476 Deposits: Member bank reserves 18,552,780 - 86,808 + 372,785 U. S. Treasurer--general account 503,621 - 37,987 + 76,443 Foreign 255,018 8,029 - 52,850 Other 387,356 - 3; 543 - 12,443 Total deposits 19,698,775 - 136,367 + 383,935 Deferred availability cash items 5,072,605 + 838,828 + 420,686 Other liabilities and accrued dividends 39,019 + 3,837 + 19,569 TOTAL LIABILITIES 51,873,679 + 753,200 +1,387,666 C A P I T AL ACCOUNTS Capital paid in 377,646 + 86 + 27,085 Surplus 868,4l0 1/+ 31,669 Other capital accounts 191,528 + 11,542 9,188 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,311,263 + 764,828 +1,437,232 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.0# 4.4# Contingent liability on acceptances purchased for foreign correspondents 67,472 + 9,180 - 67,683 Industrial loan commitments 360 637 l/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES ,MAY 13, 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 628,085 1 7,840 596,350 16 days to 90 days 24,146 3 21,143 S.o+ nS J 9927650 91 days to 1 year 109 :: Over 1 year to 5 years Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 652,340 28,983 26,084,962 Digitized for FRASER s j1 h F t e tp d : e // r f a ra l R se e r s .s e t r l v o e u i B sf a e n d k .o o rg f / S t. Louis )) 7 ^ /"> c

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 13, 1959 Phila- Cleve- St. Minne- Kansas San 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 18,754,892 869,503 ^ 967,322 1092,203 1676,842 995,330 883,350 3371,511 710,655 411,107 654,679 661,743 2460,647 Redemption fund for F. R. notes 907,851 55,629 189,545 57,087 84,701 75,910 54,867 169,188 43,688 22,322 42,708 29,207 82,999 Total gold certificate reserves 19,662,743 925,132 5,156,867 1149,290 1761,543 1071,240 938,217 3540,699 754,343 433,429 697,387 690,950 2543,646 F.R. notes of other Banks 344,576 26,615 92,522 18,210 15,054 35,122 55,606 24,019 9,372 9,915 7,341 17,423 33,377 Other cash 363,767 27,586 73,208 16,866 34,933 23,015 29,343 56,668 21,178 11,829 11,716 13,008 44,417 Discounts and advances 652,340 51,041 86,703 17,432 47,382 53,175 55,627 127,569 21,856 35,797 107,547 16,390 31,821 Industrial loans 4 4 Acceptances— Bought outright 28,983 28,983 U. S. Govt, securities: Bought outright— Bills 1,976,300 107,145 497,340 112,701 171,104 126,656 104,159 342,004 80,376 45,013 85,188 78,883 225,731 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 2,867,565 155,465 721,628 163,526 248,268 183,7 151,132 496,238 116,624 65,315 123,606 114,456 327,530 Bonds 2,483,771 134,658 625,046 141,639 215,040 159,1 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 25,977,3^2 1400,363 6,537,255 1481,385 2249,068 1664,837 1369,111 4495,435 1056^499 591^686 1119/754 103^861 2967] 108 Held under repurchase agreement 107,600 * • 1CJ J 600 — — — — •»— «•» — — — — «* «• w — * Total U. S. Govt, sees. 26,084,962 1408,363 6,644,855 1481,385 2249,068 1664,837 1369,111 4495,435 1056,499 591,686 1119.754 1036,861 2967,108 Total loans & securities 26,766,289 1459,404 6,760,541 1498,817 2296,450 1718,012 1424,738 4623,004 1078,355 627,487 1227,301 1053,251 2998,929 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 1 1 Uncollected cash items 5,836,607 397,481 955,861 377,141 549,010 458,8l4 502,634 923,560 256,869 148,181 385,024 307,438 574,594 Bank premises 95,648 4,566 10,221 4,159 9,354 6,969 9,743 12,661 6,948 5,208 4,729 8,584 12,506 Other assets 241,618 13,285 59,530 13,488 21,018 15,389 13.679 41,349 9.910 5.427 11.227 9.750 27,566 TOTAL ASSETS 53,311,263 2854,070 13,108,754 3077,972 4687,363 3328,562 2973, 961 9221,962 2136,976 1241,476 2344,726 2100,405 6235,036 1/ After deducting $11,000 participations of other Federal Reserve Banks7 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 MAY 13, 1959 Total Boston Net, York ° ^" Richmond Atimta Chicago ^ ^ Dallas _ ! ™„ T LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,063,280 1569,009 6,289,559 1712,132 2484,792 2023,099 1455,756 5169,745 1197,998 609,155 1095,407 764,904 2691,724 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,552,780 785,172 5,130,385 902,453 1542,398 784,248 970,027 2902,960 648,712 438,061 812,446 946,748 2689,170 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 503,621 28,451 91,767 27,171 26,820 41,069 23,366 75,863 20,102 19,271 32,837 24,474 92,430 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 255,018 13,750 1/75,018 16,500 22,500 12,500 11,750 37,000 9,250 6,000 9,750 13,000 28,000 OOOOOttttthhhhheeeeerrrrr 387,356 ®34 333,761 1,020 902 2,821 2,262 849 616 352 945 875 42,119 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,698,775 828,207 5,630,931 947,144 1592,620 840,638 1007,405 3016,672 678,680 463,684 855,978 985,097 2851,719 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,072,605 374,155 784,670 322,o4l 476,665 388,021 439,638 816,101 203,307 132,102 334,106 274,996 526,803 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 39,019 2,063 10,533 1,903 3,695 2,207 1,964 6,242 i,44l 1,280 1,602 1,680 4,409 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,873,679 2773,434 12,715,693 2983,220 4557,772 3253,965 2904,763 9008,760 2081,426 1206,221 2287,093 2026,677 6074,655 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 377,646 IS 11 1:1 IS E:8 IS 1:1 IS 41 11 11 11 SSSSSuuuuurrrrrpppppllllluuuuusssss 868,410 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 191,528 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,311,263 2854,070 13,108,754 3077,972 4687,363 3328,562 2973,961 9221,962 2136,976 1241,476 2344,726 2100,405 6235,036 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 67,472 3,712 2/18,872 4,455 6,075 3,375 3,172 9,990 2,498 1,620 2,633 3,510 7,560 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 20 — — — — — %4n FEDERAL RESERVE AGENTS' ACCOUNTS **•• nn.. nnootteess oouuttssttaannddiinngg 28,002,294 1646,249 6,529,508 1759,127 2545,743 2101,053 1528,707 5263,551 1247,849 622,077 1125,221 804,549 2828,660 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,725,000 580,000 2,920,000 64o,ooo 920,000 670,000 475,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 134,336 6,270 — — — — 21,205 -- 106,861 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 29,544,336 1730,000 6,920,000 1846,270 2670,000 2170,000 1575,000 5500,000 1386,205 625,000 1256.861 865.000 ^000.000 0/ r ^ducting $180,000,000 participations of other Federal Reserve Banks. 2/ After deducting $48,600,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis