H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release B.4.1 OF THE FEDERAL RESERVE SYSTEM June 4, 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 tank reserves for the week ended June 3 decreased $69 million to $18,324 million. Estimated required reserves decreased $51 million; and estimated excess reserves decreased $18 million to $326 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $523 million, compared with $314 million the week before. The principal changes reducing average reserves were a decrease of $87 million in Federal Reserve float and an increase of $168 million in money in circulation. The principal offsetting change was an increase of $191 million in member bank borrowings. Total Reserve Bank credit increased $102 million. As of Wednesday, June 3, 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 $178 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, June 3, May 27, June 4, June 3, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 25,905 — — +1,711 25,905 Held under repurchase agreement - - -- — «•> — - Acceptances--bought outright 27 - 1 - 14 26 Loans, discounts, and advances— Member bank borrowings 849 +191 + 715 714 Other 17 — — 4- 16 17 Float 853 - 87 - 16 811 Total Reserve Bank credit 27,650 +102 +2, 410 27,473 Gold stock 20,188 -1,406 20,188 mm mm Treasury currency outstanding 5,271" 2- + 3 4- 70 5,272 53,109- \o +104 +1,074 52,933 Money in circulation 31,64ar^ +l68 + 652 31,687 Treasury cash holdings 70L^-( - 4 - 5 710 Treasury deposits with F. R. Banks 548 + 5 + 137 474 Foreign deposits with F. R. Banks 297 + 16 + 59 354 Other deposits with F. R. Banks 376 + 13 - 108 391 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,219 , - 25 + 162 1,218 34,78 V w +172 + 8 96 34,834 Member bank reserves— 18,324 - 69 + 177 18,099 Required reserves (estimated) 17,998 - 51 + 424 18,Oil Excess reserves (estimated) 326 - 18 - 247 88 On June 3, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,761 million, an increase of $57 million for the week and an increase of $716 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 June 3, May 27, June 4, 1959 1959 1958 A S S E TS Gold certificate account 18,691, 894 __ -1,481,497 Redemption fund for F. R. notes —913, 052 + 2 + 81,789 Total gold certificate reserves 19,604, 9% + 2 -1,399,708 F. R. notes of other Banks 295, 638 51,155 - 29,281 - Other cash 353, 410 10,633 + 24,258 - Discounts and advances 731, 271 + 177,739 + 589,472 Industrial loans 2 473 -- Acceptances—bought outright 26, 395 496 - 14,835 U. S. Government securities: Bought outright— Bills 1,903, 500 + 372,140 Certificates 18,649, 726 - w -1,296,379 Notes 2,867, 565 +2,867,565 * - Bonds 2,483, 771 - 305,486 Total bought outright 25,904, 362 +1,637,840 Held under repurchase agreement Total U. S. Government securities 25,904,562 +1,637,840 Total loans and securities 26,662,230 + 177,243 +2,212,004 Due from foreign banks 15 Uncollected cash items 5,008,250 89,669 + 304,528 • Bank premises 95,626 111 + 8,099 - Other assets 154,600 + 12,505 - 17,769 TOTAL ASSETS 52,174,715 + 38,182 +1,102,131 L I A B I L I T I ES Federal Reserve"notes" ~ 27,191,801 + 116,887 + 624,508 Deposits: Member bank reserves 18,098,764 + 37,112 - 85,496 U. S. Treasurer--general account 474,342 50,477 + 58,124 - Foreign 353,974 + 65,382 + 82,350 Other 390,799 + 37,422 + 25,860 Total deposits 19,317,879 + 89,439 + 80,838 Deferred availability cash items 4,197,107 179,599 + 329,089 - Other liabilities and accrued dividends 38,378 - 4l + 16,881 TOTAL LIABILITIES 50,745,165 + 26,686 +1,051,316 C A P I T AL A C C O U N TS Capital paid"in 378,308 + 79 + 26,712 Surplus 868,410 1/+ 31,669 -- Other capital accounts 182,832 + 11,417 7,566 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,174,715 + 38,182 +1,102,131 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 42.2# .1# 3-7# - Contingent liability on acceptances purchased for foreign correspondents 79,633 + 2,562 - 30,993 Industrial loan commitments 360 646 — — 1/ Net change after elimination of Sec. 13b surplus of $27, MMAATTUURRIITTYY DDIISSTTRRIIBBUUTTIIOONN OOFF LLOOAANNSS AANNDD SSEECCUURRIITTIIEESS,, JUNE 3, 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 703,984 1 6,629 183,960 16 days to 90 days 27,104 1 19,766 9,357,073 91 days to 1 year 183 11,012,193 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 731,271 26,395 25,904,562 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) I g OF C0NDIT3EO N OF EA:HC FEIERAL RESERVE BANK ON R<J]N E 3, 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 18,691,894 873,511 4,984,652 1054,850 1601,611 1007,602 899,172 3333,697 721,654 414,598 695,781 687,791 2416,975 Redemption fund for F. R. notes 911.052 55.171 187.879 58.422 84.027 84.056 54.2QQ 168.462 4%.471 21.050 42,543 29,072 82,596,. Total gold certificate reserves 19,604,9^6 928,684 5,172,531 1113,272 1685,638 1091,658 953,471 3502,159 765,127 437,648 738,324 716,863 2499, 571 F.R. notes of other Banks 295,638 22,100 75,461 14,686 13,268 31,321 47,964 23,069 7,698 11,494 4,311 16,020 28,246 Other cash 353,410 26,116 68,102 16,4l8 31,774 22,734 31,198 55,352 21,448 11,668 11,867 13,302 43,431 Discounts and advances 731,271 54,417 36,525 77,797 75,100 47,149 59,764 164,456 18,924 25,134 111,517 18,959 41,529 Industrial loans 2 2 Acceptances— Bought outright 26,395 26,395 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 75,977 217,4l6 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,o4o 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 25,9047552 1404,416 6,518,935 1477,234 2242,765 1660,172 1365,274 4482,836 1053,538 590, 028 1116, 616 1033,955 2958,793 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 26,662,230 1458,833 6,581,855 1555,031 2317,865 1707,321 1425,038 4647,292 1072,462 615,164 1228,133 1052,914 3000,322 Due from foreign banks 15 1 1 /4 l 1 1 12 1 2/ 1 11 Uncollected cash items 5,008,250 339,382 885,730 296,989 466,800 416,498 414,735 854,224 209,756 142,310 255,923 234,141 491,762 Bank premises 95,626 4,532 10,182 4,137 9,326 7,001 9,784 12,813 6,930 5,188 4,715 8,562 12,456 Other assets 154,600 8,482 37,976 8,556 13,781 9,771 9,141 25,817 6.403 3,494 7,447 6,242 17.490 TOTAL ASSETS 52,174,715 2788,130 12,831,841 3009,090 4538,453 3286,305 2891,332 9120,728 2089,825 1226,966 2250,721 2048,045 6093,279 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 JUNE 3, 1959 Total Boston Net, York C£^d | Richmond Atlanta Chicago ^ Dallas J S F r s cc LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,191,801 1574,473 6,322,742 1722,590 2499,906 2022,932 1471,187 5191,354 1199,491 608,815 1101,892 768,801 2707,618 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,098,764 773,660 4,891,791 886,591 1452,752 804,146 952,360 2878,556 635,398 427,701 813,529 947,633 2634,647 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 474,342 28,506 70,802 25,189 36,147 33,184 38,198 61,498 20,383 20,909 43,025 27,551 68,950 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 353,974 18,865 1/107,014 22,638 30,870 17,150 16,121 50,764 12,691 8,232 13,377 17,836 38,416 OOOOOttttthhhhheeeeerrrrr 390,799 391 333,166 632 2,181 2,800 2,869 828 392 544 2,643 930 43>423 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,317,879 821,422 5,402,773 935,050 1521,950 857,280 1009,548 2991,646 668,864 457,386 872,574 993,950 2765,436 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,197,107 309,794 705,886 255,070 383,917 329,909 339,722 719,366 164,795 124,392 217,375 210,241 436,640 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 38,378 2,173 9,942 2,093 3,891 2,052 1,936 6,570 1,362 1,196 1,575 1,588 4,000 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,745,165 2707,862 12,441,343 2914,803 4409,664 3212,173 2622,393 6906,936 2034,512 1191,789 2193,416 1974,580 5933,694 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 378,308 18,513 109,528 22,364 35,892 16,872 19,314 51,892 12,661 8,645 15,442 21,796 45,389 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 182,832 11,639 42,068 12,316 16,254 12,414 10,151 27,741 8,906 5,747 8,928 8,233 18,435 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,174,715 2788,130 12,831,841 3009,090 4538,453 3286,305 2891,332 9120,728 2089,625 1226,966 2250,721 2048,045 6093,279 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 79,633 4,395 2/22,105 5,273 7,191 3,995 3,755 11,825 2,956 1,918 3,116 4,155 8,949 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 360 —- —- 20 — - — —- -- - — 340 FEDERAL RESERVE AGENTS 'ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,048,226 1637,053 6,538,632 1770,589 2553,598 2098,334 1532,017 5292,727 1241,565 621,327 1125,823 808,891 2827,670 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 190,824 61,675 -- -- — — 18,295 — 110,854 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 29,600,824 1730,000 6,920,000 1901,675 2670,000 2170,000 1575,000 5500,000 1383,295 625,000 1260,854 865,000 3000,000 1/ After deducting $246,960,000 partj Lcipations of other Federal Reserve Banks. j?/ After deducting $57,528,000 parti Lcipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis