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 25, 1959 MEEKLY 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 ban kreserves for the week ended June 24 increased $90 million to $18,62? million. Estimated required reserves increased $66 million; and estimated excess reserves increased $24 million to $497 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $379 million, compared with $503 million the week before. The principal changes supplying average reserves were an increase of $227 million in Federal Reserve float, and decreases of $89 million in Treasury cash holdings and $63 million in money in circulation. The principal offsetting changes were decreases of $100 million in member bank borrowings and $119 million in gold stock, and an increase of $79 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $153 million. As of Wednesday, June 24, holdings of U. S. Government securities bought outright were $25 million lower than a week earlier and member bank borrowings were $222 million lower. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended Wednesday, Reserve Bank credit, June 24, June 17, June 25, June 24, and related items 1959 1959 1958 1959 (In millions of cL ollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 25,936 - 8 +1,045 25,919 Held under repurchase agreement 34 + 34 - 77 — — Acceptances--bought outright 27 - - - 18 25 Loans, discounts, and advances-- Member bank borrowings 876 -100 + 777 892 Other 18 + 1 + 18 17 Float 1,256 +227 + 232 911 Total Reserve Bank credit 28,147 +153 +1,977 27,765 Gold stock 20,017 -119 -1,357 19,771. Treasury currency outstanding 5,287-/t> + 6 + 83 5,288^1 53,453r-W + 41 + 703 52,834- t-j Money in circulation 31,814^1 - 63 + 839 31,753" Treasury cash holdings 626 - 89 - 72 412 Treasury deposits with F. R. Banks 515 + 79 + 75 532 Foreign deposits with F. R. Banks 283 + 24 + 3 337 Other deposits with F. R. Banks 349 - 12 + 120 364 Other F. R. accounts (net) 1,238 + 12 + 94 1,237 34,825 i% - 49 +1,060 34,636— Member bank reserves-- 18,627 + 90 - 356 18,188 Required reserves (estimated) 18,130 + 66 - 184 18,014 Excess reserves (estimated) 497 + 24 - 172 174 On June 24, 1959) U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,909 million, an increase of $15 million for the week and an increase of $910 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.l(&) STATEMENT OP CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 24, June 17, June 25, 1959 1959 1958 A S S E TS Gold certificate account 18,561,142 - 73,752 -1,373,249 Redemption fund for F. R. notes 921,788 + 7,760 + 89,399 Total gold certificate reserves 19,482,930 - 65,992 -1,283,850 P. R. notes of other Banks 350,868 + 31,378 4" 12,615 Other cash 366,950 + 14,784 + 15,723 Discounts and advances 909,236 - 222,243 + 781,257 Industrial loans 1 - 342 Acceptances—bought outright 25,397 999 - 17,827 U. S. Government securities: Bought outright— Bills 11,,991188,,220000 - 25,200 - 330022,,116600 Certificates 18,649,726 •» — -1;, 296,379 Notes 2,867,565 •» — +2,867, 565 Bonds 2,483,771 - 305,486 Total bought outright 25,919,262 - 25,200 + 963,540 Held under repurchase agreement 44,000 . — - - Total U. S. Government securities 25,919,262 - 25,200 + 919,540 Total loans and securities 26,853,896 - 248,442 +1,682, 628 Due from foreign banks 15 - - «• - Uncollected cash items 5,578,746 -1,538,737 480,554 Bank premises 96,096 + 35 + 7,835 Other assets 172,978 + 12,535 - 20,925 TOTAL ASSETS 52,902,479 -1,794,439 + 894,580 L I A B I L I T I ES Federal Reserve notes 27,307,517 - 45,273 + 738,062 Deposits: Member bank reserves 1188,,118888,,002299 - 680,683 - 337799,,664488 U. S. Treasurer—general account 532,009 + 153,557 + 8,352 Foreign 337,474 + 59,644 + 69,061 Other 363,578 - 86,116 - 21,031 Total deposits 19,421,090 - 553,598 - 323,266 Deferred availability cash items 4,667,729 -1,208,388 + 365,549 Other liabilities and accrued dividends 39,957 + 664 + 16,277 TOTAL LIABILITIES 51,436,293 -1,806,595 + 796,622 C A P I T AL A C C O U N TS Capital paid'in 379,476 + 488 + 26,347 Surplus 868,410 mm w* 1/+ 31,669 Other capital accounts 218,300 + 11,668 + 39,942 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,902,479 -i,794,439 + 894,580 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.7# Contingent liability on acceptances purchased for foreign correspondents 77,434 2,593 37,607 Industrial loan commitments 360 631 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 24, 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 883,126 8,573 299,200 16 days to 90 days 25,918 16,824 9,223,433 91 days to 1 year 192 11,045,293 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 909,236 25,397 25,919,262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JrU NE 24, 3L 959 Phila- Cleve- St. Minne- Kansas San Total Boston New York de3.phia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco A S S E TS Gold certificate account 18,561,142 871,617 5,025,275 1043,755 1587,006 1015,260 891,129 3278,640 697,370 403,990 661,332 658,495 2427,273 Redemption fund for F. R. notes 921,788 54,720 196,000 59,697 83,355 82,051 53,748 172,683 43,236 22,804 42,366 28,934 82,194 Total gold certificate reserves 19,^82,930 926,337 5,221,275 1103,452 1670,361 1097,311 944,877 3451,323 740,606 426,794 703,698 687,429 2509,467 F.R. notes of other Banks 350,868 27,382 84,844 19,524 12,847 28,554 53,222 26,546 11,702 13,889 17,815 17,059 37,484 Other cash 366,950 23,858 68,230 19,119 32,735 21,827 33,164 56,878 24,387 10,144 13,660 15,448 47,500 Discounts and advances 909,236 26,078 120,590 52,717 115,985 72,235 88,539 140,025 29,449 18,238 97,237 31,914 116,229 Industrial loans 1 1 Acceptances— Bought outright 25,397 25,397 U. S. Govt, securities: Bought outright— Bills 1,918,200 103,995 482,719 109,388 166,074 122,933 101,097 331,949 78,013 43,690 82,684 76,563 219,095 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 25,919,252 lT^72ir^75^WT4W072 2244,038 1661,114 1366,0^9^585,IB010547I36 590,363 1117,250 1034,541 2960^72 Held under repurchase agreement Total U. S. Govt, sees. 25,919,262 1405,213 6,522,634 1478,072 2244,038 1661,114 1366,049 4485,380 1054,136 590,363 1117,250 1034,541 2960,472 Total loans & securities 26,853,896 1431,291 6,668,621 1530,789 2360,023 1733,349 1454,588 4625,405 1083,585 608,602 1214,487 1066,455 3076,701 Due from foreign banks 15 1 3 74 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 5,578,746 411,228 1,016/730 325,546 509,649 452,991 466,944 868,262 223,915 152,185 290,865 292,846 567,585 Bank premises 96,096 4,532 10,182 4,119 9,329 7,004 9,783 13,138 6,985 5,194 4,715 8,781 12,334 Other assets 172,978 9,486 42,166 9,492 15,070 10,883 10,081 28,885 7,117 3,887 8,213 7,128 20,570 TOTAL ASSETS 52,902,479 2834,115 13,112,052 3012,042 4610,015 3351,920 2972,660 9070,439 2098,298 1220,695 2253,454 2095,147 6271,642 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

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 24, ]. 959 H.4.1(c) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis 1 apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 27,307,517 1588,128 6,338,557 1742,112 2516,182 2039,591 1479,552 5206,701 1200,594 613,165 1101,034 776,896 2705,005 Deposits: Member bank reserves 13,188,029 763,434 5,114,837 835,111 1450,280 799,169 969,094 2757,799 615,864 408,028 789,877 934,663 2749,873 U.S.Treas.-gen.acct. 532,009 25,413 72,808 30,006 34,318 48,007 46,063 70,017 25,503 20,777 46,199 41,256 71,642 Foreigi 337,474 17,050 1/114,274 20,460 27,900 15,500 14,570 45,880 11,470 7,440 12,090 16,120 34,720 Other 363,578 531 307,370 2,307 956 l,8l4 4,364 1,051 6.724 182 1,647 736 35,896 Total deposits 19,421,090 806,428 5,609,289 887,884 1513,454 864,490 1034,091 2874,747 659,561 436,427 849,813 992,775 2892,131 Deferred availability cash items 4,667,729 355,342 754,847 283,590 444,731 369,270 386,039 764,337 180,101 134,006 241,983 248,727 504,756 Other liabilities and accrued dividends 39,957 2,174 10,050 1,969 3,796 2,102 2,154 6,433 1,4.15 1,176 1,649 1.953 _ 5,086 TOTAL LIABILITIES 51,436,293 2752^072 12,712^743 2915)555 4478,163 3275,453 2901,836 8852,218 2041,671 1184,774 2194,479 2020,351 6106,978 CAPITAL ACCOUNTS Capital paid in 379,476 18,527 109,583 22,554 35,916 17,010 19,479 52,070 12,695 8,655 15,502 21,818 45,667 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 218,300 13,400 50,824 14,326 19,293 l4,6ll 11,871 33,992 10,186 6,481 10,538 9,542 23,236 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,902,479 2834,11513,112,052 3012,042 4610,015 3351,920 2972,660 9070,439 2098,298 1220,695 2253,454 2095,147 6271,642 Conting. liab. on acceptances purchased for foreign correspondents 77,434 4,257 2/21,706 5,108 6,966 3,870 3,638 11,455 2,864 1,857 3,031,9019 4,025 8,669 Industrial loan commit. 360 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,240,566 1638,097 6,588,720 1784,248 2569,943 2117,308 1542,821 5318,991 1245,256 625,600 1134,782 820,109 2854,691 Collat. for F. R. notes: 290,000 1300,000 Gold certificate acct. 10,750,000 580,000 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 Eligible paper 176,989 51,595 — -- — — 28,820 — 96,574 U. S. Govt, securities 18,710,000 1150,000 4,000,000 1200,000 1750,000 1500,000 1-100,000 3500,000 935,000 450,000 850,000 575,000 1700,000 Total collateral 29,636,989 1730,0*00 6,920,000 1891,595 2670,000 2170,000 1600,000 5500,000 1393,820 650,000 1246,574 865,000 3000,000 1/ After deducting $223,200,000 participations of other Federal Reserve Banks. 2/ After deducting $55,728,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis