H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM July 2, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAH CREDIT, AM) RELATE DITEMS and. STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ended July 1 decreased $24 lmillion to $18,386 million .Estimated required reserves decreased $111 million ;and estimated excess reserves decreased $130 millio nto $369 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $552 million, compared with $377 millio nthe week before. The principal changes reducing average reserves were decreases of $305 million in gold stoc kand $224 million in Federal Reserve float, and increases of $44 million in money in circulation and $37 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $217 million in Treasury cash holdings and $48 million in "other" F. R. account s(net), and increases of $75 million in Federal Reserve holdings of U. S. Government securities and $45 million in member ban kborrowings. The decreases in average gold stock and Treasury cash holdings reflect the $343,750,000 gold paymen tto the International Monetary Fund from the Treasury's holdings of gold in it soperating balance during the preceding week. Total Reserve Bank credit decreased $105 million. As of Wednesday, July 1, holdings of U. S. Government securities bought outright were $180 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $19 million higher, and member bank borrowings were $306 million lower. Averages of daily figures Member bank reserves, Week ended Change from week endedW ednesday, Reserve Bank credit, July 1, June 24, July 2, July 1, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,018 82 + 599 26,099 Held under repurchase agreement 27 7 + 24 19 Ac ceptanc e s - - Bought outright 27 - 17 25 Held under repurchase agreement 2 Loans, discounts, and advances-- Member bank borrowings 921 + 45 + 824 586 Other 17 - 1 + 17 17 Float 1,032 -224 + 217 880 Total Reserve Bank credit 20,042 -105 +17562 27,627 Gold stock 19,712 -305 -1,637 19,704 Treasury currency outstanding 5,293T"$-> + 4 + 88 5,290-6 ) 53,04#—-&1 ^5o5 + 113 52,623r- ir Money in circulation 31,85^.2- + 44 + 695 31,978""1 Treasury cash holdings 409—• 1 -217 - 278 409 Treasury deposits with F. R. Banks 552 + 37 + 106 567 Foreign deposits with F. R. Banks 296 + 13 + 28 288 Other deposits with F. R. Banks 353 + 4 - 52 386 Other F. R. account s(net) 1,190 - 48 + 85 1,#; 4 34,65# ^157 + 5S5 347809-^ Member bank reserves-- 18,386 -241 - 473 17,812 Required reserves (estimated) 10,017 -111 - 107 18,069 Excess reserves (estimated) 369 -130 - 286 -257 On July 1, 1959, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,895 million, a decrease of $14 million for the week and an increase of $949 million from the comparable date Digitiaze d yfoer aFRr ASaEgRo . 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 July 1, June 5^ July 2, 1959 1959 1958 A S S E TS Gold certificate account 18,494,14$ - 66,997 -1,395,248 Redemption fund for F. R. notes 921,949 + 161 + 79,560 Total gold certificate reserves 19,416,094 - 66,836 -1,315,688 F. R. notes of other Banks 290,539 - 60,329 + 28,114 Other cash 361,204 - 5,746 + 30,602 Discounts and advances 603,422 -305,814 + 523,283 Industrial loans 1 342 Acceptances—bought outright 25,396 - 17,852 U. S. Government securities: Bought outright-- Bills 2,097,900 +179,700 - 624,910 Certificates 18,649,726 -1,296,379 Notes 2,867,565 +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 26,095,962 +179,700 + 640,790 Held under repurchase agreement 18,750 + 18,750 + 18,750 Total U. S. Government securities 26,117,712 +198,450 + 659,540 Total loans and securities 26,746,531 •107,365 +1,164,629 Due from foreign banks „ 15 Uncollected cash items 5,692,133 +113,387 + 735,821 Bank premises 95,791 305 + 6,897 Other assets 186,155 + 13,177 - 22,117 TOTAL ASSETS 52,788T%%2 -114.017 + 628,258"" L I A B I L I T I ES Federal Reserve notes 27,459,793 +152,276 + 609,719 Deposits: Member bank reserves 17,812,479 -375,550 924,261 U. S. Treasurer--general account 567,039 + 35,030 + 99,017 Foreign 288,067 - 49,407 + Other 386,436 + 22,858 . Total deposits 19,054,021 -367,069 - 793,755 Deferred availability cash items 4,811,698 +143,969 + 743,840 Other liabilities and accrued dividends 30,589 - 9,368 + 17,444 TOTAL LIABILITIES 51, 356|101 - 80,192 + 577,248 C A P I T AL A C C O U N TS Capital paid-in 379,952 + 476 26,157 Surplus 868,410 1/+ 31,669 Other capital accounts 183,999 - 34,301 6,816 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,788,462 -114,017 628,258 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.7$ 2.7# Contingent liability on acceptances purchased for foreign correspondents 75,785 - 1,649 • 39,003 Industrial loan commitments '360 631 1/ Net change after elimination of Sec. 13b surplus of $27, 543,000 on Sept. 2, 1958, MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 1, 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 573,494 7,371 311,850 16 days to 90 days 29,738 18,025 9,321,733 91 days to 1 year 190 11,132,793 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 603,422 25,396 26,117,712 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK OH JULY 1, 1959 Phila- Cleve- St. Minne- Kansas | San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City (Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,494,145 948,762 4,899,729 1032,215 1649,595 987,659 902,473 3194,609 721,355 396,274 674,509 649,968 2436,997 Redemption fund for F. R. notes 92.1,^9 54,614 195,551 59,547 83,210 81,554 53,637 172,528 43,193 22,756 44,333 28,908 82,118 Total gold certificate reserves 19,416,094 1003,376 5,095,280 1091,762 1732,805 1069,213 956,110 3367,137 764,548 419,030 718,842 678,876 2519,115 F.R. notes of other Banks 290,539 17,566 62,754 16,107 12,353 25,282 47,481 24,961 10,069 12,651 17,317 15,270 28,728 Other cash 361,204 23,016 66,473 18,600 32,459 21,081 33,418 55,959 24,623 10,270 13,854 14,423 47,028 Discounts and advances 603,422 25,550 78,260 11,887 42,250 33,258 87,599 107,798 11,854 24,272 124,168 27,672 28,854 Industrial loans 1 Acceptances— Bought outright 25,396 U. S. Govt, securities: Bought outright— Bills 2,097,900 113,737 527,941 119,635 181,632 134,449 110,568 363,047 85,322 47,783 90,430 83,736 239,620 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 26,098,962 1415,955 6,567,85614887319 2259,596"i672,630 1375,520 4516,478 1061,445 594,456 1124,996 1041,714 2980,997 Held under repurchase agreement 1M50 18,750 Total U. S. Govt, sees. 26,117,712 1414,955 6,586,606 1488,319 2259,596 1672,63 01375,520 4516,478 1061,445 594,456 1124,996 104l,7l4 2980,997 Total loans & securities 26,746,531 1440,505 6,690,262 1500,206 2301,84 61705,888 1463,119 4624,276 1073,299 618,729 1249,164 1069,386 3009,851 Due from foreign banks 15 l l /4 1 1 l l 2 1 2/ 1 1 l Uncollected cash items 5,692,133 407,115 1,067,563 350,195 524,080 448,178 472,128 928,757 231,812 153,"685 265,261 256,276 587,083 Bank premises 95,791 4,497 10,143 4,119 9,296 6,992 9,771 13,076 6,965 5,153 4,701 8,753 12,325 Other assets 186,155 10,205 45,319 10,405 16,287 11,816 10,838 31,042 7,749 4,191 8,899 7,485 21,919 TOTAL ASSETS 52,788,462 2906,281 13,037,798 2991,39 54629,127 3288,451 2992,866 9045,210 2119,066 1223,709 2278,039 2050,470 6226,050 l/ 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) 8TATEMSHT Off CONDITIO NOF EACH FEDERA LRESERVE BANK ON JULY 1, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston Mew York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollarsJ L I A B I L I T I ES 1599,331 6,385,812 17U7,779 2521,428 2056,578 1489,9^5 5227,137 1202,516 613,595 1103,505 781,579 2730,588 Federal Reserve notes 27,459,793 Deposits: Member bank reserves 17,812,479 795,510 4,853,927 802,899 1467,481 736,712 962,683 2701,733 637,443 406,024 845,489 937,135 2665,443 U.S.Treas.-gen.acct. 567,039 40,514 137,968 31,317 41,768 38,058 40,267 71,190 31,343 26,462 39,137 19,495 49,520 Foreign 288,067 13,915 1/105,907 16,698 22,770 12,650 11,891 37,444 9,361 6,072 9,867 13,156 28,336 Other 386,436 848 324,371 l,4l8 1,263 2,770 2,938 600 484 1,296 2,453 1,028 46,967 Total deposits 19;054,021 850,787 5,422,173 852,332 1533,202 790,190 1017,779 2010,967 678,631 *39,05% 096,946 970,814 2790,266 Deferred availability cash items 4,811,698 373,864 830,508 295,227 442,463 365,858 4l4,532 789,624 181,497 134,148 218,908 223,536 541,533 Other liabilities and accrued dividends 30,589 1,711 8,883 1,510 2,974 1,550 1,444 5,331 1,093 950 1,251 1,035 2,857 TOTAL LIABILITIES 51,356,101 2825,693 12,647,376 2896,843"4500,147 3215^76 2923,700 0033,059 2063,737 1100,547 2220,61 01976,964 6065,244 CAPITAL ACCOUNTS Capital paid in 379,952 18,827 109,597 22,554 35,942 17,016 19,524 52,083 12,701 8,655 15,511 21,845 45,697 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 183,999 11,645 41,923 12,386 16,395 12,413 10,168 27,909 8,832 5,722 8,983 8,225 19,348 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,788,462 2906,281 13,037,798 2991,395 4629,12 73288,451 2992,866 9045,210 2119,066 1223,709 2278,039 2050,470 6226,050 Conting. liab. on acceptances purchased for foreign correspondents 75,785 4,169 2/21,209 5,003 6,822 3,790 3,562 11,218 2,805 1,819 2,956 3,942 8,490 Industrial loan commit. 360 20 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,318,132 1645,020 "67617,417 1796,303 2571,50 72124,430 1547,960 5328,373 1245,038 627,040 1130,014 823,202 2053,020 Collat. for F. R. notes: Gold certificate acct. 10,750,000 580,000 2,920,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 145,495 10,765 — 11,225 — 123,505 U. S. Govt, securities 18.710.000 1150.000 4.000.000 1200.000 1750.000 1500.000 1100,000 S500,000 935.000 450.000 850,000 575.000 1700.000 Total collateral 29,605,495 1730,000 6,920,000 1850 765 2670,000 OJO,000 l600,000 5 500,000 1376,225 650,000 1273,505 865,000 3000,000 ; l/ After dedueting~!pl&2," 155 J00C~particxp'ations ~o?~othe.r . 2/ After deducting $54,576,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis