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 28, 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 27 decreased $436 million to $18,393 million. Estimated required reserves decreased $167 million; and estimated excess reserves decreased $269 million to $336 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $322 million, compared with $248 million the week before. , , The principal changes reducing average reserves were decreases of $215 million in Federal Reserve float, $195 million in member bank borrowings, and $30 million in Federal Reserve holdings of U. S. Government securities, and an increase of $39 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $42 million in money in circulation. Total Reserve Bank credit decreased $44l million. As of Wednesday, May 27, holdings of U. S. Government securities bought outright and those held under repurchase agreement were unchanged from a week earlier and member bank borrowings were $177 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday. Reserve Bank credit, May 27, May 20, May 28, May 27, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 25,905 - 21 +1,852 25,905 Held under repurchase agreement - y Q Acceptances--bought outright 28 - 1 - 14 27 Loans, discounts, and advances— Member bank borrowings 658 -195 + 539 537 Other 17 - 1 + 17 17 Float 940 -215 + 160 721 Total Reserve Bank credit 27,548 -44i +2, 554 27,206 Gold stock 20,188 - 9 -1, 473 20,188 Treasury currency outstanding 5,268 + b + 67 5,269 53,005 -445 +1,149 52,663 Money in circulation 31,473 - 42 + 660 31,511 Treasury cash holdings 708 - 2 i4 706 Treasury deposits with F. R. Banks 543 + 39 + 106 525 Foreign deposits with F. R. Banks 281 + 1 + 5 289 Other deposits with F. R. Banks 363 - 4 28 353 Other F. R. accounts (net) 1,244 - 1 + 221 1,219 34,612 - 9 + 950 34,602 Member bank reserves— 18,393 -436 + 199 18,062 Required reserves (estimated) 18,057 -167 + 544 18,055 Excess reserves (estimated) 336 -269 - 345 7 On May 27, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3, JOh million, an increase of % ° million for the week and an increase of $666 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 27, May 20, May 28, 1959 1959 1958 A S S E TS Gold certificate account 18,691,894 + 1 -1,531,495 Redemption fund for F. R. notes 913,050 3,267 + 81,787 Total gold certificate reserves 19,604,944 3,266 -1,449,708 F. R. notes of other Banks 346,793 6,194 + 15,080 Other cash 364,043 754 + 26,645 Discounts and advances 553,532 + 177,053 + 381,359 Industrial loans 2 46l -- Acceptances--bought outright 26,891 885 13,868 U. S. Government securities: Bought outright-- Bills 1,903,500 ++ 557744,,114400 — — Certificates 18,649,726 -1,296,379 •» — Notes 2,867,565 +2,867,565 — •» Bonds 2,483,771 w. - - 305,486 Total bought outright 25,904,562 -- +1,839,840 Held under repurchase agreement -- " •* «• Total U. S. Government securities 25,904,562 +1,839,840 -- Total loans and securities 26,48k, 987 + 176,168 +2,206,870 Due from foreign hanks 15 Uncollected cash items 5,097,919 - 801,060 + 709,080 Bank premises 95,737 167 + 8,396 Other assets 142,095 + 12,485 - 162,882 TOTAL ASSETS 52,136,533 - 622,788 +1,353,481 L I A B I L I T I ES Federal Reserve notes 27,074,914 + 40,650 + 519,176 Deposits: Member hank reserves 18,061,652 61, l4l + 25,983 U. S. Treasurer—general account 524,819 56,572 + 142,343 Foreign 288,592 6,919 + 11,606 Other 353,377 31,515 - 47,029 Total deposits 19,228,440 - 43,003 + 132,903 Deferred availability cash items 4,376,706 - 589,499 + 632,024 Other liabilities and accrued dividends 38,419 1 — 3 90 + 17,488 TOTAL LIABILITIES 50/7187579 - 591,462 +1,301,591 C A P I T AL A C C O U N TS Capital paid-in 378,229 375 + 27,131 Surplus 868,4l0 1/+ 31,669 Other capital accounts 171,415 31,701 6,910 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,1357533 - 622,788 +1,353,481 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.3# Contingent liability on acceptances purchased for foreign correspondents 77,071 3,935 43,229 Industrial loan commitments 360 676 y Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 27, 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 524,831 r ,m 304,960 16 days to 90 days 28,507 19,116 9,235,073 91 days to 1 year 194 11,013,193 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 553,532 26,891 25,904,562 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF COHDITC]O N OF EACH FEDERAL RESERVE BANK ON MAY 27, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 18,691,894 890,489 4,981,713 1068,860 1693,181 1008,603 897,719 3354,405 697,875 395,775 678,136 677,506 2347,632 Redemption fund for F. R. notes 913,050 55,173 187,879 58,422 84,027 84,056 54,299 168,462 43,473 23,049 42,543 29,072 82,595 Total gold certificate reserves 19, 60k, 9W 945,662 5,169,592 1127,282 1777,208 1092,659 952,018 3522,867 741,348 418,824 720,679 706,578 2430,227 F.R. notes of other Banks 3^6,793 27,351 87,903 17,646 15,879 35,760 56,446 25,478 10,702 11,370 7,265 18,838 32,155 Other cash 364,043 27,942 70,607 17,318 33,333 23,475 29,877 55,305 21,716 11,448 12,081 15,296 45,645 Discounts and advances 553,532 34,986 43,985 57,322 32,325 53,046 47,014 70,007 23,419 52,710 81,877 22,712 34,129 Industrial loans 2 2 Acceptances-- Bought outright 26,891 26,891 U. S. Govt, securities: Bought outright— Bills 1,903,500 103,198 479,020 108,550 164,801 121,991 100,322 329,405 77,415 43,355 82,050 75,977 217,416 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 99,137 283,694 Total 25,904,562 1404,416 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,53# 590,025 1116,616 1033,955 2950,793 Held under repurchase agreement Total U. S. Govt, sees. 25,904,562 l4o4,4l6 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,538 590,028 Ill6,6l6 1033,955 2958,793 Total loans & securities 26,484,987 1439,402 6,589,811 1534,556 2275,090 1713,218 1412,288 4552,843 1076,957 642,740 1198,493 1056,667 2992,922 Due from foreign "banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,097,919 354,546 9497137 327,319 456,829 394,351 435,678 801,306 213,328 133,654 250,203 273,053 508,515 Bank premises 95,737 4,532 10,222 4,137 9,361 7,001 9,759 12,826 6,948 5,182 4,729 8,584 12,456 Other assets 142,095 7,852 34,287 7,814 12,517 9,071 8,449 23,405 5,897 3,205 6,893 5,898 16,807 TOTAL ASSETS 52,136,533 2807,288 12,911,563 3036,073 4580,218 3275,536 2904,516 8994,032 2076,897 1226,423 2200,344 2084,915 6038,728 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2iti/z eLd efosrs FR AthSEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H-4..1(c) STATEMENT OF CONDIT][O N OF EACH FEDERA] RESERVE BANK ON MAY 27, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francis co - L I A B I L I T I ES Federal Reserve notes 27,074,914 1567,162 6,304,853 1718,083 2495,681 2015,387 1457,262 5180,616 1194,822 607,310 1093,245 762,513 2677,980 Deposits: Member bank reserves 18,061,652 782,565 4,990,792 884,395 1489,318 785,839 953,214 2784,243 613,24l 431,098 800,255 960,712 2585,980 U.S.Treas.-gen.acct. 524,819 35,386 59,047 37,625 39,141 49,526 37,437 67,193 28,397 27,005 35,006 36,861 72,195 Foreign 288,592 15,125 1/90,592 18,150 24,750 13,750 12,925 40,700 10,175 6,600 10,725 14,300 30,800 Other 353,377 384 306,604 539 667 2,244 1,208 750 540 76 767 818 38,780 Total deposits 19,228,440 833,460 5,447,035 940,709 1553,876 851,359 1004,784 2892,886 652,353 464,779 846,753 1012,691 2727,755 Deferred availability cash items 4,376,706 324,934 762,768 281,777 398,930 333,270 372,120 704,638 173,388 118,266 201,887 234,836 469,892 Other liabilities and accrued dividends 38,419 2,082 9.374 1,906 3,763 2,178 2,083 6,103 1.499 1,149 1,625 1,862 4,795 h&BL TOTAL LIABILITIES 50,718,479 2727,638 12,524,030 2942,475 4452,250 3202,194 2836,249 8784,243 2022,062 1191,504 2143,510 2011,902 5880,422 CAPITAL ACCOUNTS Capital paid in 378,229 18,481 109,514 22,350 35,909 16,869 19,314 51,891 12,661 8,616 15,437 21,796 45,391 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 171,415 11,053 39,117 11,641 15,4l6 11,627 9,479 25,739 8,428 5,518 8,462 7,781 17,154 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,136,533 2807,288 12,911,563 3036,073 4580,218 3275,536 2904,516 8994,032 2076,897 1226,423 2200,344 2084,915 6038,728 Conting. liab. on acceptances purchased for foreign correspondents 77,071 4,24o 2/21,559 5,089 6,939 3,855 3,624 11,411 2,853 1,850 3,007 4,009 8,635 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,986,527 1642,526 6,520,504 1763,949 2547,460 2095,404 1524,982 5282,008 1246,357 620,919 1123,757 806,784 2811,877 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 154,204 -- -- 50,200 -- -- -- -— 22,790 -- 81,214 -- - - 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 29,564,204 1730,000 6,920,000 1890,200 2670,000 2170,000 1575,000 5500,000 1387,790 625,000 1231,214 865,000 3000,000 11// AAfftteerr ddeedduuccttiinngg $$ll<<33ttff..00<< DO.000 TOft; niTQa/fci oris rvf rvfchpr* TTedA-rAl Rpspwp Hanlra. •** vw* vbvviiUV VXU5 v w;v vv UJLV VXVUO WJL U tUCJL X CLLCJL CLJL ilCDCl V V JDOJLUXO • 2/ After deducting $55,512,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis