H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release il.4.1 OF THE FEDERAL RESERVE SYSTEM May 21, 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 20 increased $279 million to $18,829 million. Estimated required reserves increased $117 million; and estimated excess reserves increased $162 million to $606 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $247 million, compared with million the week before. $265 The principal changes supplying average reserves were increases of million in Federal Reserve float and $144 million in member bank borrowings. $360 The principal offsetting changes were decreases of $75 million in Federal Reserve holdings of U. S. Government securities and $54 million in gold stock, and an increase of $106 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $426 million. As of Wednesday, May 20, holdings of U. S. Government securities bought outright were $73 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $108 million lower, and member bank borrowings were million lower. $276 Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, May 20, May 13, May 21, May 20, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 25,926 - 14 +2,050 25,905 Held under repurchase agreement 9 - 6l + 9 -- Acceptances-- Bought outright 29 - 1 12 28 Held under repurchase agreement -- - 1 ,, - - Loans, discounts, and advances— Member bank borrowings 853 +144 + 749 359 Other 18 mm mm + 18 17 Float _1,155 +360 4- 161 933 Total Reserve Bank credit +426 +2,973 27,242 Gold stock 20,197 - 54 -1,582 20,188 Treasury currency outstanding 5,264 + 2 64 5,267 53, ^50 +373 +1,455 52,697 Money in circulation 31,515 + 10 + 693 31,454 Treasury cash holdings 710 - - - 22 709 Treasury deposits with F. R. Banks 504 - 17 + 45 468 Foreign deposits with F. R. Banks 280 + 11 - 29 296 Other deposits with F. R. Banks 367 - 16 - 14 385 Other F. R. accounts (net) 1,245 +106 + 202 1,262 34,621 + 94 4- 874 34,574" Member bank reserves— 18,829 +279 + 581 18,123 Required reserves (estimated) 18,223 +117 + 675 18,188 Excess reserves (estimated) 606 +162 - 97 - 65 On May 20, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,6)6 million, an increase of $23 million for the week and an increase of million from the comparable date a year $568 Digitizeadg foor. FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TtffiLVB FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since May 20, May 13, May 21, 1959 1959 1958 A S S E TS Gold certificate account 18,691,893 62,999 -1,631,500 Redemption fund for F. R. notes 934317 8,466 + 82,812 Total gold certificate reserves 19,608,210 557533 F. R. notes of other Banks 352,987 + 8,4ll - 25,855 Other cash 364,797 + 1,030 341 Discounts and advances 376,479 275,861 + 290,673 Industrial loans 2 2 48l Acceptances--bought outright 27,776 1,207 - 11,983 U. S. Government securities: Bought outright— Bills 1,903,500 72,800 + 695,64o Certificates 18,649,726 Notes -1,296,379 2,867,565 +2,867,565 Bonds 2,483,771 - 305,486 Total "bought outright 25,904,562 - 72,800 +1,961,340 Held under repurchase agreement - 107,600 Total U. S. Government securities 25,904,562 - 180,400 +1,961,340 Total loans and securities 26,308,819 - 457,470 +2,239,549 Due from foreign banks 15 Uncollected cash items 5,898,979 + 62,372 + 897,743 Bank premises 95,904 + 256 + 8,612 Other assets 129,610 112,008 - 160,284 TOTAL ASSETS 52,759,321 551,942 +1,410,736 L I A B I L I T I ES Federal Reserve~notes 27,034,264 29,016 + 597,673 Deposits: Member bank reserves 18,122,793 - 429,987 10,229 U. S. Treasurer--general account 468,247 - 35,374 33,644 Foreign 295,511 + 4o, 15,686 493 Other 384,892 2,464 1,079 Total deposits 19,271,443 - 427,332 + 57550 Deferred availability cash items 4,966,205 - 106,4oo + 739,905 Other liabilities and accrued dividends 38,029 990 + 17,361 TOTAL LIABILITIES 51,309,941 - 563,738 +1,361,589 C A P I T AL A C C O U N TS Capital paid in 377,854 + 208 + 26,929 Surplus 868,410 1/+ 31,669 Other capital accounts 203,116 + 11,588 9,451 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,759,321 - 551,942 +1,410,735 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.3# -yf> 4.0# Contingent liability on acceptances purchased for foreign correspondents 73,136 5,664 - 52,583 Industrial loan CCmmit.mAn+.R '260 - 1 — yjKJ - Ojt 657 1/ Net change after elimination of Sec. 13b surplus of $27,5^3,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES ,MAY 20, 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 351,704 8,056 407,010 16 days to 90 days 24,667 19,720 9,144,023* 91 days to 1 year 108 11,002,193* Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 376,479 ~2~ 27,776 25,904,562 Figures for these groups as of May 6 revised to 9,127,593 and 10,838,793, and as of May 13 to 9,134,783 and 11,002,493, respectively. 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 MA Y 20, 1959 Total Boston New York P de h l i p la h - ia C l l a e n v d e - Richmond Atlanta Chicago L S ou t. is M ap i o nn li e s - K C an it s y a s Dallas Fra B nc an is co (In thousands of dollars) A S S E TS Gold certificate account 18,691,893 Redemption fund for F. R. notes Total gold certificate re serve s F.R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances— Bought outright U. S. Gcr/t. securities: Bought outright-- Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Govt-, sees. g^Qk56S Total loans & securities 26,308,819 Due from foreign banks 15 Uncollected cash items 5,898,979 Bank premises 95,904 Other assets 129,610 TOTAL ASSETS DC iJX OV F 4,880,301 1055,695 1671,893 1000,724 903,081 3415,685 689,521 379,4l8 743,777 685,643 2412,214 916,317 55,352 188,597 58,678 84,300 84,898 54,527 168,748 43,558 23,160 42,608 29,123 82,768 19,608,210 909,293 5,068,898 1114,373 1756,193 1085,622 957,608 3584,433 733,079 402,578 786,385 714,766 2494,982 352,987 29,030 93,406 17,477 15,258 33,836 58,775 24,839 11,150 9,837 7,217 17,335 34,827 364,797 27,557 70,678 17,242 31,912 23,435 30,574 55,974 23,188 12,213 12,274 12,780 46,970 376,479 27,226 62,125 4,537 13,720 27,827 48,724 61,061 9,579 27,913 63,229 13,084 17,454 2 2 27,776 27,776 -- -- -- — - -- -- -- 1,903,500 103,198 479,020 108,550 164,801 121,991 100,322 329,405 77,415 43,355 82,050 75,977 217,4l6 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 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 2,483,771 134,658 625,046 141,639 215, o4o 159,180 130,905 429,821 101,015 56,573 107,063 99,137 28-v, 69'-:- 25,904,562 1404,4l6 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,538 590,028 1116,616 1033,955 2958,793™ 1404,416 6,518,935 1477,234 2242.765 1660.172 1165,274 4482.836 1053.5^8 590.028 III6.616 10Tt.QS5 2958.79? 1431,642 6,608,836 1481,771 2256,485 1687,999 1413,998 4543,897 1063,117 617,943 1179,845 1047,039 2976,247 l /> 2/ 421,311 1,085,167 351,837 556,804 458,896 487,530 930,475 238,064 156,963 305,980 287,436 618,516 4,566 10,222 4,159 9,364 7,044 9,746 12,827 6,948 5,209 4,729 8,584 12,506 7,138 31,815 7,147 11,306 8,l6l 7,887 21,348 5,393 2,916 6,353 5,485 14,661 52,759,321 2830,538 12,969,026 2994,007 4637,323 3304,994 2966,119 9173,795 2080,940 1207,659 2302,784 2093,426 6198,710 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 MAY 20, 1959 Total Boston New York ^ h la ^ n d" Richmond Atlanta Chicago ^ ' "alias ^ s co L g F r LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,034,264 1566,096 6,289,855 1712,433 2490,659 2017,074 1449,321 5168,850 1195,567 608,021 1093,766 764,468 2678,154 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,122,793 780,315 4,932,550 851,090 1477,452 767,314 969,723 2874,363 612,287 399,440 845,097 954,771 2658,391 UUUUU.....SSSSS.....TTTTTrrrrreeeeeeeeeesssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 468,247 21,845 72,425 21,427 24,538 43,818 37,100 61,188 17,156 22,322 41,700 30,172 74,556 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 295,511 15,125 1/97,511 18,150 24,750 13,750 12,925 40,700 10,175 6,600 10,725 14,300 30,800 OOOOOttttthhhhheeeeerrrrr 384,892 700 334,801 938 965 2,642 1,681 687 1,200 228 1,129 967 38,954 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,271,443 817,985 5,437,287 891,605 1527,705 827,524 1021,429 2976,938 640,818 428,590 898,651 1000,210 2802,701 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,966,205 363,208 836,063 292,561 484,805 382,998 423,658 806,316 187,230 134,104 250,713 252,779 551,770 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 38,029 2,031 9,758 1,976 3,550 2,066 1,930 6,355 1,356 1,448 1,502 1,792 4,265 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,309,941 2749,320 12,572,963 2898,575 4506,719 3229,662 2896,338 8958,459 2024,971 1172,163 2244,632 2019,249 6036,890 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 377,854 18,471 109,461 22,333 35,908 16,869 19,274 51,684 12,667 8,6l4 15,401 21,796 45,376 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 203,116 12,631 47,700 13,492 18,053 13,617 11,033 31,493 9,556 6,097 9,816 8,945 20,683 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,759,321 2830,538 12,969,026 2994,007 4637,323 3304,994 2966,119 9173,795 2080,940 1207,659 2302,784 2093,426 6198,710 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 73,136 4,026 2/20,432 4,831 6,588 3,660 3,441 10,834 2,708 1,757 2,855 3,806 8,198 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,028,971 1639,153 6,527,675 1761,869 2556,861 2104,871 1528,537 5284,044 1245,254 621,483 1126,957 806,623 2825,644 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 74,931 —— —— 3,415 •" •" 8,950 "*• 62,566 " *** 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 29,484,931 1730,000 6,920,000 1843,415 2670,000 2170,000 1575,000 5500,000 1373,950 625,000 1212,566 865,000 3000,000 1/ After deducting $l$ti,000,000 parti LCipations of other Federal Reserve Banks. 2/ After deducting $52,704,000 parti Lcipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis