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 9, 1959 WEEKLY AVERAGES OF MEMBER BAH 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 July 8 increased $66 million to $18,452 million. Estimated required reserves decreased $97 million; and estimated excess reserves increased $163 million to $532 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $495 million, compared with $552 million the week before. The principal changes supplying average reserves were increases of $237 million in U. S. Government securities bought outright and $18 million held under repurchase agreement, and $106 million in member bank borrowings, and decreases of $36 million in Treasury deposits with Federal Reserve Banks and $18 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $254 million in money in circulation and a decrease of $84 million in Federal Reserve float. Total Reserve Bank credit increased $277 million. As of Wednesday, July 8, holdings of U. S. Government securities bought outright were $156 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $70 million higher, and member bank borrowings were $428 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 8, July 1, July 9, July 8, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 26,255 +237 + 799 26,255 Held under repurchase agreement 45 + 18 + 45 89 Acceptances—bought outright 26 - 1 17 25 Loans, discounts, and advances- Member bank borrowings 1,027 +106 + 884 1,015 Other 17 + 17 17 Float 948 - 84 + 1 824 Total Reserve Bank credit 28,319 +277 +1,730 20,225 Gold stock 19,704 - 8 -1,602 19,705 Treasury currency outstanding 5,290-6 % - 1 + 88 5,290-j? *> 53,33d- +268 216 53,220 Money in circulation 32, lie- +254 728 32,190- S3 Treasury cash holdings 412 + 3 265 415 Treasury deposits with F. R. Banks 516 - 36 27 46l Foreign deposits with F. R. Banks 278 - 18 13 262 Other deposits with F. R. Banks 360 + 7 17 351 Other F. R. accounts (net) 1,183 . - 7 86 1,182 +203 + 572 35785es~r Member bank reserves— 18,452 + 66 - 357 18,358 Required reserves (estimated) 17,920 - 97 - 131 17,862 Excess reserves (estimated) 532 +163 - 226 496 On July 8, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,031 million, an increase of $136 million for the week and an increase of $1,039 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 JlSfiElRAL RESERVE BANKS COMBINED (in thousands of dollars) Change since July 8, July 1; July 9, 1959 1959 1958 A S S E TS Gold certificate account 18,485,143 9,002 -1,400,250 Redemption fund for F. R. notes 928,753 + 6,804 + 86,981 Total gold certificate reserves 19,413,896 - 2,198 -1,313,269 F. R. notes of other Banks 262,432 ~ 28,107 - 14,744 Other cash 342,699 - 18,505 + 16,935 Discounts and advances 1,031,595 + 428,173 + 902,871 Industrial loans 1 - - - 342 Acceptances--t>ought outright 25,396 - - - 16,852 U. S. Government securities: Bought outright— Bills 2,253,900 + 156,000 450,910 Certificates 18,649,726 -- -1 ,296,379 Notes 2,867,565 MOT +2,867,565 Bonds 2,483,771 - 305,486 Total bought outright 26,254,962 + 156,000 + 814,790 Held under repurchase agreement 89,000 + 70,250 + 89,000 Total U. S. Government securities 26,343,962 + 226,250 + 903,790 Total loans and securities 27,400,95^ + 654,423 +1,789,467 Due from foreign banks 15 Uncollected cash items 5,076,824 - 615,309 + 346,729 Bank premises 95,815 + 24 + 6,578 Other assets 199,956 + 13,801 - 23,036 TOTAL ASSETS 52,792,591 + 4,129 + 808,660 L I A B I L I T I ES Federal Reserve notes ™* 27,630,171 + 170,378 + 741,401 Deposits: Member bank reserves 18,357,885 + 545,406 155,607 U. S. Treasurer-- general account 460,780 - 106,259 - 182,198 Foreign 262,125 - 25,942 -. 2,095 Other 350,776 - 35,660 29,290 Total deposits 19,431,566 + 377,545 369,190 Deferred availability cash items 4,252,710 - 558,988 + 366,415 Other liabilities and accrued dividends 33,160 + 2,571 + 19,197 TOTAL LIABILITIES 51,347,607 - 8,494 + 757,823 C A P I T AL A C C O U N TS Capital paid-in 380,519 + 567 + 26,240 Surplus 868,410 - - 1/+ 31,669 Other capital accounts 196,055 + 12,056 7,072 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,792,591 + 4,129 + 808,660 Ratio of gold certificate reserves to deposit M and F. R. note liabilities combined 41.3# - - 3.If Contingent liability on acceptances purchased for foreign correspondents 74,772 1,013 — 36,763 Industrial loan commitments 360 - - - 631 rplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 8, 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 AccepAtcacnecpetsances securities Within 15 days 1,019,903 7,980 422,300 16 days to 90 days 11,525 17,4I6 9,367,033 91 days to 1 year 16? 11,203,293 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 1,031,595 25,396 26,343,962 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 OH JULY 8, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Fran isco (In thousands of dollars) A S S E TS Gold certificate account 18,485,143 946,459 4,763,156 1075,038 1730,066 1013,042 897,197 3193,025 710,168 431,294 601,4o8 696,106 2428,184 Redemption fund for F. R. notes 928,753 56,517 194,918 59,410 85,082 80,837 58,525 172,373 43,150 22.714 44,295 28,884 82,048 Total gold certificate reserves 19,413,896 1002,976 4,958,074 1134,448 1815,148 1093,879 955,722 3365,398 753,318 454,008 645,703 724,990 2510,232 F.R. notes of other Banks 262,432 15,043 57,938 15,115 8,270 23,060 42,135 22,988 7,728 10,557 16,386 14,528 28,684 Other cash 342,699 21,776 62,824 17,528 33,308 19,761 31,454 54,407 22,545 8*810 12*578 14^574 43'l34 Discounts and advances 1,031,595 25,225 245,830 37,192 74,215 74,743 78,119 203,488 10,484 10,208 133,848 30,789 107,454 Industrial loans 1 Acceptances-- Bought outright 25,396 25,396 -- -- — -- -- -- - - __ U. S. Govt, securities: Bought outright— Bills 2,253,900 122,0.95 567,199 128,531 195,138 144,447 118,790 390,043 91,666 51,336 97,154 89,963 257,438 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 1ic5c5 ,),4<6c5 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 26,254,962 1423,413fa,607,114 1497,215 2273,102 1682,628 1383,742 4543,474 1067,789598,009 1131,720 1047,941 2998,815 Held under repurchase agreement 89,000 89,000 Total U. S. Govt, sees. 26,343,962. 1423,413 6,696,114 1497,215 2273,102 1682,628 1383,742 4543,474 1067,789 598,009 1131,720 1047,941 2998,815 Total loans & securities 27,400,954 1448,638 6,967,340 1534,407 2347,317 1757,371 1461,861 4746,962 1078,273 608,218 1265,568 1078,730 3106,269 Due from foreign banks 15 1 1/4 1 1 1 1 2 1 2/ l 1 1 Uncollected cash items 5,076,824 334,963 9187374 284,932 445,338 401,948 420,509 857,597 222,001 149,219 273,474 245,894 522,575 Bank premises 95,815 4,497 10,143 4,143 9,296 6,992 9,771 13,076 6,965 5,153 4,701 8,753 12,325 Other assets 199,956 11,064 48,898 11,084 17,376 12,666 11,530 33,625 8,262 4,536 9,466 8,039 23,410 TOTAL ASSETS 52,792,591 2838,958 13,023,595 3001,658 4676,054 3315,678 2932,983 9094,055 2099,093 1240,501 2227,877 2095,509 6246,630 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 JULY 8, 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) L I A B I L I T I ES Federal Reserve notes 27,630,171 1614,475 6,405,913 1760,750 2540,923 2064,455 1498,404 5260,635 1209,588 617,390 1111,259 785,957 2760,422 Deposits: Member bank reserves 18,357,885 771,842 5,054,886 846,207 1581,519 799,973 957,673 2808,925 624,311 435,478 782,543 970,215 2724,313 U.S.Treas.-gen.acct. 460,780 48,006 75,832 28,446 25,018 29,400 21,752 48,748 21,008 23,188 36,245 34,004 69,133 Foreign 262,125 13,915 l! 79,965 16,698 22,770 12,650 11,891 37,444 9,361 6,072 9,867 13,156 28,336 Other 350,776 1,201 296,088 1,809 820 3,800 3,289 553 355 246 1,576 1,023 40,016 Total deposits 19,431,566 834,964 5,506,771 893,160 1630,127 845,823 994,605 2895,670 655,035 464,984 830,231 1018,398 2861,798 Deferred availability cash items 4,252,710 306,376 708,139 250,752 371,877 328,518 368,440 717,704 177,501 121,638 226,939 215,890 458,936 Other liabilities and 1,974 9,185 1,606 3,122 1,845 1,668 5,720 1,200 1,074 1,367 1,271 3,128 accrued dividends 33,160 TOTAL LIABILITIES 51,347,607 2757,789 12,630,008 2906,268 4546,049 3240,641 2863,117 8879,729 2043,324 1205,086 2169,796 2021,516 6084,284 CAPITAL ACCOUNTS Capital paid in 380,519 18,833 109,705 22,722 35,952 17,031 19,619 52,109 12,710 8,657 15,526 21,870 45,785 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 196,055 12,220 44,980 13,061 17,410 13,160 10,773 30,058 9,313 5,973 9,620 8,687 20,800 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,792,591 2838,958 13,023,595 3001,658 4676,054 3315,678 2932,983 9094,055 2099,093 1240,501 2227,877 2095,509 6246,630 Conting. liab. on acceptances purchased for foreign correspondents 74,772 4,ll4 2/20,916 4,937 6,732 3,740 3,516 11,070 2,768 1,795 2,917 3,890 8,377 Industrial loan commit. 360 20 — — — — — — — — 3^0 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,474,374 1657,479 6,614,259 1809,713 2594,046 2142,269 1563,744 5356,449 1247,449 628,612 1143,135 830,036 2887,183 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 169,110 26,070 — — — — 9,855 -- 133,185 U. S. Govt, securities 18.710.000 1150.000 4.000.000 1200.000 1750.000 1500.000 1100.000 3500.000 915.000 450.000 850.000 575,, 000 1700, OOP- Total collateral 29,629,110 1730,000 6,920,000 1866,070 2670,000 2170,000 1600,000 5500,000 1374,855 650,000 1283,185 865,000 3000,000 1/ After deducting $182,160,000 participations of other Federal Reserve Banks Di2gi/tiz eAd ffotr FeRrA SdEeRd ucting $53,856,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis