H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 18, 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 June 17 increased $223 million to $18,537 million. Estimated required reserves increased $179 million; and estimated excess reserves increased $44 million to $473 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $503 million, compared with $550 million the week before. The principal changes supplying average reserves were an increase of $255 million in Federal Reserve float and a decrease of $40 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $74 million in money in circulation. Total Reserve Bank credit increased $258 million. As of Wednesday, June 17, 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 $226 million higher. Averages of daily figures Member bank reserves, WWeeeekk eennddeedd Change from week ended WWeeddnneessddaayy,, Reserve Bank credit, JJuunnee 1177,, June 10, June 18, JJuunnee 1177,, and related items 11995599 1959 1958 11995599 (In millions of c lollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,944 + 5 +1,363 25,944 Held under repurchase agreement - 101 Acceptances—bought outright 27 - 18 26 Loans, discounts, and advances— Member bank borrowings 976 - 3 + 801 1,114 Other 17 + 17 17 Float 1,029 +255 - 7 1,241 Total Reserve Bank credit 27,994 +255 +2,055 28,344 Gold stock - 5 -1,4o4 Treasury currency outstanding + 6 + 77 53,416— c~ +259 + 728 53,7 66 Money in circulation 31,877^0 + 74 + 807 31,83?"# Treasury cash holdings 715 - 1 + 17 717 Treasury deposits with F. R. Banks 436 - 40 - 23 378 Foreign deposits with F. R. Banks 259 - 1 - 72 278 Other deposits with F. R. Banks 361 - 3 + 2 450 Other F. R. accounts (net) 1,226 + 8 + 80 1,237 . 34, + 37 + 811 34,89^ Member bank reserves— +223 - 82 18,869 Required reserves (estimated) IBToS +179 + 80 18,244 Excess reserves (estimated) 473 + 44 - 162 625 On June 17, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,894 million, an increase of $36 million for the week and an increase of $782 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 TEE TWELVE FEDERAL RESERVE BANKS COMBINED, (in thousands of dollars) Change since June 17, June 10, June 16, 1959 1959 1958 A S S E TS Gold certificate account 18,634,894 1,998 -1,398,497 Redemption fund for F. R. notes 914,028 2, 000 + 79,528 Total gold certificate reserves 19,555; 922 + 2 -1,3107969 F. R. notes of other Banks 319,490 + 22, 473 — 12,756 Other cash 352,166 + 6,284 + 13,994 Discounts and advances 1,131,479 + 225,779 + 977,484 Industrial loans 1 1 - 480 Acceptances--bought outright 26,396 + 2 16,830 - U. S. Government securities: Bought outright-- Bills 1,943,4oo __ + 15, i4o Certificates 18,649,726 ,296,379 - - Notes 2,867,565 +2,867,565 - - Bonds 2,483,771 305,486 - - - Total bought outright 25,944,462 - - +1, 280,840 Held under repurchase agreement 122,000 — — — — - Total U. S. Government securities 25,944,462 +1,158,840 Total loans and securities 27,102, 338 + 225,780 +2,119,014 Due from foreign "banks 15 «• - — — Uncollected cash items 7,117,483 +2, 240, 340 + 24,660 Bank premises 96,061 - 112 8,266 Other assets 160,443 - 6,786 - 20,360 TOTAL ASSETS 54,696,918 +2,487,981 + 813,849 L I A B I L I T I ES Federal Reserve notes 27,352,790 + 26,942 774,888 Deposits: Member bank reserves 18,868,712 + 668,157 95,420 U. S. Treasurer--general account 378,452 - 35,639 + 44,629 Foreign 277,830 + 19,809 11,601 - Other 449,694 + 97,338 267,513 Total deposits 19,974,688 + 749,665 + 205,121 Deferred availability cash items 5,876,117 +1,698,562 - 233,177 Other liabilities and accrued dividends 39,293 + 311 + 16,662 TOTAL LIABILITIES 53,242,888 +2,475,480 + 763,494 C A P I T AL A C C O U N TS Capital paid in 378,988 + 283 + 26,338 Surplus 868,4l0 1/+ 31,669 " — Other capital accounts 206,632 + 12,218 7,652 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,696,918 +2,487,981 + 813,849 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.3 $ .7/o Contingent liability on acceptances purchased for foreign correspondents 80,027 1,008 35,654 Industrial loan commitments 360 637„ 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 17, 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 1,122,296 8,015 231,400 16 days to 90 days 8,990 18,381 9,323,533 91 days to 1 year 193 11,038,193 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410, 385 Over 10 years 1,059,772 Total 1,131,479 26,396 25,944,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK JUNE 17, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,634,894 878,828 4,998,982 1027,495 1539,756 1000,947 905,297 3342,525 721,047 392,344 670,510 682,098 2475,065 Redemption fund for F. R. notes 914,028 54,830 186,561 59,873 83,523 82,622 53,896 172,875 43,294 22,869 42,420 28,969 82,296 Total gold certificate reserves 19,548,922 933,658 5,185,543 1087,368 1623,279 1083,569 959,193 3515,400 764,341 415,213 712,930 711,067 2557,361 F.R. notes of other Banks 319,490 19,932 81,417 18,816 10,825 29,546 46,682 24,025 9,894 10,872 17,506 13,506 36,469 Other cash 352,166 21,213 64,975 18,733 32,003 21,940 32,399 56,121 22,669 10,952 12,984 13,037 45,140 Discounts and advances 1,131,479 45,773 130,735 70,827 162,160 75,225 69,974 247,271 16,291 37,633 104,347 62,489 108,754 -Industrial loans 1 1 Acceptances— Bought outright 26,396 26,396 "3L S. Govt, securities: "-Sought 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 Botes 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 1,3 143,605.98 05 42692.58.20146 141.639 215,040 159,180 101,015 56.573 107.063 99.137 283.694 Total 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 Held tinder 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.l6l 590.937 1118.336 1035.547 2963.350 -Total loans & securities 27,102,338 1452,352 6,686,107 1550,336 2408,380 1737,954 1437,351 4737,012 1071,452 628,571 1222,683 1098,036 3072,104 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2 / 1 11 Uncollected cash items 7,117,483 428,837 1,683,149 426,225 703,746 485,498 545,898 1071,650 270,371 176,193 305,915 306,793 713,208 Bank premises 96,061 4,532 10,182 4,140 9,324 6,994 9,784 13,132 6,934 5,188 4,715 8,781 12,355 Other assets 160.443 8,657 39.297 8,820 13.869 10.094 9.388 26.671 6.607 1.622 7.725 6.633 19.060 TOTAL ASSETS 54,696,918 2869,182 13,750,674 3114,439 4801,427 3375,596 3040,696 9444,013 2152,269 1250,611 2284,459 2157,854 6455,698 l/ 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 17, 1959 ^ ^ , Phila- Cleve- L. . ... . St. Minne- Kansas __ San Total Boston New York |Richmond Atlanta Chicago Louis apolis City D a U as Francisco delphia land (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,352,790 1593,059 6,346,437 1743,433 2513,705 2031,993 1482,817 5217,230 1202,581 614,522 1106,116 776,092 2724,805 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 18,868,712 781,882 5,217,473 874,875 1509,164 809,265 990,137 2964,229 643,971 431,024 836,637 997,947 2812,108 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 378,452 10,364 86,809 15,087 21,474 29,649 16,675 75,690 21,238 11,849 17,726 25,067 46,824 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 277,830 13,750 1/84,530 17,820 24,300 13,500 12,690 39,960 9,990 6,480 10,530 14,040 30,240 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 449,694 1,162 "356,747 9,315 5,666 6,l4o 7,777 10,338 2,340 2,061 2,583 2,105 43,460 OOOOOttttthhhhheeeeerrrrr TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,974,688 807,158 5,745,559 917,097 1560,604 858,554 1027,279 3090,217 677,539 451,414 867,476 1039,159 2932,632 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,876,117 385,497 1,252,127 356,221 592,660 407,350 458,428 913,742 214,641 147,920 250,900 266,440 630,191 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 39,293 2,114 10,208 2,029 3,592 2,026 1,961 6,679 1,345 1,094 1,533 1,828 4,884 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 53,242,888 2787,828 13,354,331 3018,780 4670,561 3299,923 2970,485 9227,868 2096,106 1214,950 2226,025 2083,519 6292,512 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 378,988 18,525 109,567 22,376 35,913 16,946 19,457 52,064 12,692 8,649 15,485 21,802 45,512 868,410 50,116 238,902 59,607 76,643 44,846 39,474 132,159 33,746 20,785 32,935 43,436 95,761 SSSSSuuuuurrrrrpppppllllluuuuusssss OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 206,632 12,713 47,874 13,676 18,310 13,881 11,280 31,922 9,725 6,227 10,014 9,097 21,913 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 54.696.918 2869.182 13.750.674 3114.439 4801.427 3375.596 3040,696 9444,013 2152,269 1250,611 2284,459 2157,854 6455,698 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr 80,027 4,455 2/22,372 5,280 7,200 4,000 3,760 11,840 2,960 1,920 3,120 4,l6o 8,960 fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 360 W — MM WW 20 »» •• 340 **** IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... FEDERAL RESERVE AGENTS' ACCOUNTS JJ??.. RR.. nnootteess oouuttssttaannddiinngg 28,246,983 1644,525 6,570,816 1790,652 2569,499 2116,893 1548,983 5319,680 1249,186 626,864 1135,294 817,731 2856,860 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,750,000 580,000 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 189,051 •« —— 69,705 •" -• •• — — 15,662 103,684 •* —- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18.710.000 1150.000 4.000.000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 450,000 850,000 575,000 1700,000 TToottaall ccoollllaatteerraall 29,649,051 1730,000 6,920,000 1909,705 2670,000 2170,000 1600,000 5500,000 1380,662 650,000 1253,684 865,000 3000,000 1/ After deducting $193,300,000 partj Lcipations of other Federal Reserve Banks. 2/ After deducting $57,655,000 participations of other Federal Reserve Banks- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis