H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF TEE FEDERAL RESERVE SYSTEM June 11, 1959 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ended June 10 decreased $10 millio nto $l8,314 million. Estimated required reserves decreased $138 million; and estimated excess reserves increased $128 million to $45^ million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $525 million, compared with $523 millio nthe week before. . . '^ie Principal changes reducing average reserves were decreases of $79 million in federal Reserve float and $47 million in gold stock ,and an increase of $162 million in money in circulation. The principal offsetting changes were increases of $130 millio nin member ban kborrowings and $34 million in U. S. Government securities bought outright, and decreases of $72 million in Treasury deposits with Federal Reserve Banks and $37 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $86 million. As of Wednesday, June 10, holdings of U. S. Government securities bought outright were $40 million higher than a week earlie rand member bank borrowings were $174 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday. Reserve Bank credit, June 10, June 3, June 11, June 10, and related items 1959 1959 1958 1959 (In mjil lions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 25,939 + 34 +1,548 25,944 Held under repurchase agreement 6 — — — mm mm Acceptances—bought outright 27 - 17 26 Loans, discounts, and advances- Member bank borrowings 979 +130 + 795 889 Other 17 -- + 17 17 Float 774 - 79 4l 700 Total Reserve Bank credit 27,736 + 86 +2, 296 27,576 Gold stock 20,l4l - 47 -1,453 20,137 Treasury currency outstanding 5,275 + 4 + 72 5,279 53,151 + 42 + 915 52,992 Money in circulation 31,803 +162 + 751 31,832 Treasury cash holdings 716 + 12 + 7 717 Treasury deposits with F. R. Banks 476 - 72 + 52 4l4 Foreign deposits with F. R. Banks 260 - 37 7 258 Other deposits with F. R. Banks 364 - 12 6 352 Other F. R. account s(net) l, 218 - 1 + 79 1,217 34,837 + 53 + 875 34,791 Member bank reserves- 18,314 - 10 + 40 18,201 Required reserves (estimated) 17,860 -138 + 173 17,885 Excess reserves (estimated) 454 +128 - 133 316 On June 10, 1959, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,858 million, an increase of $97 million for the week and an increase of $786 millio nfrom 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since June 10, June 3, June 11, 1959 1959 1958 A S S E TS Gold certificate account 18,636,892 55,002 -1,546,502 Redemption fund for F. R. notes 912,028 1,024 + 84,922 Total gold certificate reserves 19,358,920 557025 -1,461,580 F. R. note sof other Banks 297,017 1,379 16,304 Other cash 345,882 7,528 + 18,988 Discounts and advances 905,700 174,429 + 732,936 Industrial loans 2 488 Acceptances—"bought outright 26,394 - 15,835 U. S. Government securities: Bought outright-- Bills 1,943,400 + 39,900 + 170,140 Certificates 18,649,726 -1,296,37? Notes 2,867,565 +2,867, 565 Bonds 2,483,771 - - 305,486 Total bought outright 25,944,462 + 39,900 +1,435,840 Held under repurchase agreement z—1*900 Total U. S. Government securities 25,944,462 + 39,900" +1,427,940 Total loans and securities 26,876,558 + 214,328 +2,144,553 Due from foreign "banks 15 Uncollected cash items 4,877,143 - 131,107 + 193,696 Bank premises 96,173 + 547 + 8,567 Other assets 167,229 + 12,629 - 19,936 TOTAL ASSETS 52,208,937 + 34,222 + 867,9ffi L I A B I L I T I ES Federal Reserve notes 27,325,848 + 134,047 + 718,072 Deposits: Member bank reserves 18,200,555 + 101,791 - 277,624 U. S. Treasurer--general account 4l4,091 - 60,251 + 58,282 Foreign 258,021 - 95,953 914 Other 352,356 - 38,443 - 24,70s Total deposits 19,225,023 - 92,856 - 244,965 Deferred availability cash items 4,177,555 - 19,552 + 327,0b7 Other liabilities and accrued dividends 38,982 + 6 04 + 17,131 TOTAL LIABILITIES 50,767,408 + 22,243 + 817,311 C A P I T AL A C C O U N TS Capital paid-in 378,705 4- 397 + 26,947 Surplus 868,410 l/+ 31,669 Other capital accounts 194,4i4 + 11,582 - 7,94; TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,206,937 34,222 + 667,9^4 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 42.0% Contingent liability on acceptances purchased for foreign correspondents 81,035 + 1,402 - 30,895 Industrial loan commitments 360 631 y Net change after elimination of Sec. 13b surplus of $275,4 3,000 on Sept. 2, 195& MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 10, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 896,457 1 57530 182,000 16 days to 90 days 9,096 1 19,864 9,382,933 91 days to 1 year 147 11,028,193 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 206,495 Over 10 years 1,263,662 Total 905,700 25,39% 25,944,552 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) Phils- T Cleve- St. Minne- Kansas Sen Total Boston New York delphia j land Richmond Atlanta Chicago Louis apolis City Dallas Francisco A S S E TS Gold certificate account 18,636,892 795,361 5,281,037 1032,031 1567,039 967,919 912,506 3246,784 734,903 409,242 673,926 673,603 2342,541 Redemption fund for F. R. notes 912,028 54,830 186,561 57,873 83,523 82,622 53,896 172,875 43,294 22,869 42,420 28,969 82,296 Total gold certificate reserves 19,548,920 850,191 5,467,598 1089,904 1650,562 1050,541 966,402 3419,659 778,197 432,111 716,346 702,572 2424,837 F.R. notes of other Banks 297,017 20,791 83,391 14,285 9,269 29,648 47,217 23,375 8,301 10,348 6,226 11,801 32,365 Other cash 345,882 24,390 67,181 16,111 32,517 20,995 29,086 55,771 20,399 10,766 11,076 14,224 43,366 Discounts and advances 905,700 54,167 83,675 56,507 88,580 96,355 59,099 239,565 10,849 23,177 104,183 25,539 64,004 Industrial loans 2 2 Acceptances— Bought outright 26,394 26,394 U. S. Govt, securities: Bought outright— Bills 1,943,400 105,361 489,061 110,825 168,256 124,548 102,425 336,310 79,038 44,264 83,770 77,569 221,973 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 25,944,462 l4o6,579 6,528,976 1479,509 2246,220 1662,729 1367,377 4489,?4 l1055,161 590,937 1118,336 1035,54 72963,350 Held under repurchase agreement Total U. S. Govt, sees. 25.944.462 1406,579 6.528,976 1479,509 2246,220 1662,729 1367,377 4489,741 1055,161 590,937 1118,336 1035,547 2963,350 Total loans & securities 26,876,558 1460,746 6,639,045 1536,016 2334,800 1759,084 1426,47 64729,306 1066,010 6l4,116 1222,519 1061,086 3027,354 Due from foreign "banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,877,143 350,365 858,297 302,969 430,429 405,891 414,338 781,834 214,582 144,192 254,789 228,827 490,630 Bank premises 96,173 4,532 10,182 4,137 9,336 7,001 9,784 13,132 6,930 5,188 4,715 8,780 12,456 Other assets 167.229 9,217 41.004 9.277 14.666 10.682 9.788 28,021 6,925 3.812 8.046 6,730 19,06l TOTAL ASSETS 52,208,937 2720,233 13,166,702 2972,700 4481,580 3283,843 2903,092 9051,100 2101,345 1220,533 2223,718 2034,021 6050,070 1/ After deducting $11,000 participations of other Federa lReserve Banks. 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) SMEMIT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JUKE 10, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York RRiicchhmmoonndd Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,325,848 1583,672 6,345,787 1735,447 2510,189 2030,808 1482,936 5211,765 1202,716 613,056 1106,287 773,158 2730,027 Deposits: Member bank reserves 18,200,555 691,879 5,280,242 840,706 1405,656 805,277 948,700 2861,432 631,673 422,173 789,144 934,302 2589,371 U.S.Treas.-gen.acct. 414,091 24,284 64,686 19,611 27,017 19,156 31,443 40,582 28,782 19,515 45,218 39,888 53,909 Foreign 258,021 13,750 1/78,021 16,500 22,500 12,500 11,750 37,000 9,250 6,000 9,750 13,000 28,000 Other 352,356 554 300,063 1,220 807 2,439 2,644 1,206 935 485 2,021 780 39,202 Total deposits 19,225,023 730,467 5,723,012 878,037 1455,980 839,372 994,537 2940,220 670,640 448,173 846,133 987,970 2710,482 Deferred availability cash items 4,177,555 323,091 694,408 262,223 381,843 336,595 353,963 678,608 170,796 122,695 211,753 197,293 444,287 Other liabilities and accrued dividends 38,982 2,136 10,077 2,033 3,760 2,170 2,008 6,632 1,420 1,179 1,643 1,695 4,229 TOTAL LIABILITIES 50,767,408 2639,366 12,773,284 2877,740 4351,772 3208,945 2833,444 8837,225 2045,572 1185,103 2165,816 1960,116 5889,025 CAPITAL ACCOUNTS Capital paid in 378,705 18,525 109,561 22,366 35,893 16,895 19,451 51,895 12,691 8,648 15,468 21,801 45,511 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 194,414 12,226 44,955 12,987 17,272 13,157 10,723 29,821 9,336 5,997 9,499 8,668 19,773 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,208,937 2720,233 13,166,702 2972,700 4481,580 3283,843 2903,092 9051,100 2101,345 1220,533 2223,718 2034,021 6050,070 Conting. liab. on acceptances purchased for foreign correspondents 81,035 4,455 22//2222,,771155 55,,334466 7,290 4,050 3,807 11,988 2,997 1,944 3,159 4,212 9,072 Industrial loan commit. 360 -- -- 20 - - — - — — 340 " — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,161,002 1641,748 6,555,182 1776,353 2556,089 2108,087 1547,132 5302,503 1246,052 626,131 1130,190 814,721 2856,814 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 2,920,000 664400,,000000 920,000 670,000 500,000 2000,000 443300,,000000 220000,,000000 330000,,000000 290,000 1300,000 Eligible paper 169,125 55,385 10,220 — 103,520 U. S. Govt, securities 18,710,000 1150,000 4,000.000 1200,000 1750,000 1500,000 1100,000 1500.000 Q3 5.000 450.000 850.000 575.000 1700.000 Total collateral ,2 9,,1672390,,102050 6,920,000 1895,385 2670,000 2170,000 1600,000 5500,000 1375,220 650,000 1253,520 865,000 3000,000 ±t After deducting $150,000,000 participations of other Federa lReserve Banks. ~ _2/ After deducting $58,320,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis