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 16, 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 ban kreserves for the week ended July 15 increased $188 million to $18,640 million. Estimated required reserves increased $204 million; and estimated excess reserves decreased $16 million to $5l6 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $486 million, compared with $495 million the week before. The principal changes supplying average reserves were an increase of $19+ million in Federal Reserve holdings of U. S. Government securities, and a decrease of $122 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $89 million in money in circulation, and decreases of $26 million in Federal Reserve float and $25 million in member bank borrowings. Total Reserve Bank credit increased $l4g million. As of Wednesday, July 15, holdings of U. S. Government securities bought outright were $128 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $54 million lower, and member bank borrowings were $256 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 15, July 8, July 16, July 15, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U% S. Government securities- Bought outright--System account 26,383 +128 +1,121 26, 383 Held under repurchase agreement 111 + 66 + 111 36 Acceptances--bought outright 26 16 25 Loans, discounts, and advances- Member bank borrowings 1,002 - 25 + 88? 75 8 Other 18 + 1 + 18 22 Float 922 - 26 - 57 1, 009 Total Reserve Bank credit 28, 462 +143 +2,064 28,234 Gold stock 19,695 - 9 -1, 605 19,681 Treasury currency outstanding 5, 296-S3 - - + 88 5,290.? 3 53, +133 + 546 53,2©5 <H1 Money in circulation 32, 2©t 144- + 89 + 826 32,±e4o<n Treasury cash holdings 419 + 7 - 267 421 Treasury deposits with F. R. Banks 394 -122 - 103 422 Foreign deposits with F. R. Banks 269 - 9 89 240 Other deposits with F. R. Banks 338 - 22 - 33 335 Other F• R. account s(net) 1,185 + 2 + 90 1,183 34,80T>- O - 54 + 425 34,794 Mi Member bank reserves- 18,640 +188 + 122 18,500 Required reserves (estimated) 18,124 +204 + 175 18,130 Excess reserves (estimated) 516 - 16 - 53 370 On July 15, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,067 million, an increase of $36 million for the week and an increase of $1,013 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 FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) since July 15, July 8, July 16, 1959 1959 1958 A S S E TS Gold certificate account 18, 458,144 26,999 -1,377,747 Redemption fund for F. R. notes 932,721 + 3,968 + 68,255 Total gold certificate reserves 19,390,8^5 - 23,031 -1,309,492 F. R. notes of other Banks 308,091 + 45,659 - 20,136 Other cash 359,160 + 16,46l + 15,391 Discounts and advances 780,274 251,321 + 666,910 Industrial loans - - - 1 342 Acceptances—bought outright 25,396 - 14,850 - - U. S. Government securities: Bought outright-- Bills 2,381,900 + 128,000 - 197,810 Certificates 18,649,726 — — -1,296,379 Notes 2,867,565 — — +2,867,565 Bonds 2,483,771 — — - 305,486 Total bought outright 26,362,962 + 128,000 +1,067,890 Held under repurchase agreement 35,500 P. 53,500 + 35,500 Total U. S. Government securities 26,418,462 + 7^7500 +1,103,390 Total loans and securities 27,224,132 - 176,822 +1,755,108 Due from foreign banks 15 - — •• •» Uncollected cash items 6,409,262 +1,332,438 + 591,119 Bank premises 96,381 + 566 + 6,885 Other assets 213,313 + 13,357 - 24,968 TOTAL ASSETS 54,001,219 4-1, 208/628 +1,013,907 L I A B I L I T I ES Federal Reserve notes 27,612,207 17,964 + 751,485 - Deposits: Member bank reserves 18,499,629 + 141,744 - 311,232 U. S. Treasurer—general account 421,983 - 38,797 + 3,930 Foreign 239,948 22,177 - 117,773 Other 335,154 - 15,622 - 17,796 Total deposits 19,496,714 + 65,148 - 442,871 Deferred availability cash items 5,399,874 +1,147,164 + 633,718 Other liabilities and accrued dividends 35,884 + 2,724 + 21,370 TOTAL LIABILITIES 52,544,679 +1,197,072 + 963,702 C A P I T AL A C C O U N TS Capital paid in 380,626 + 107 + 26,132 Surplus 868,4l0 1/+ 31,669 - - Other capital accounts 207,504 + 11,449 7,596 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,001,219 +1,208,628 +1,013,907 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.2# .1 $ 3.0 <?o - Contingent liability on acceptances purchased for foreign correspondents 74,093 - 679 - 36,301 Industrial loan commitments ^ 355 - 5 636 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 15, 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 770,508 " 8,579 333,300 16 days to 90 days 9,558 16,817 9,442,433 91 days to 1 year 208 11,291,393 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 780,274 257396 26,418,462 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 15, 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 J A S S E TS Gold certificate account 18,458,144 874,705 4,702,470 1048,422 1729,733 1015,692 905,896 3239,663 747,185 422,623 698,921 666,609 2406,225 Redemption fund for F. R. notes 932,721 56,322 194,285 61,127 84,796 80,312 58,264 177,057 43,046 22,610 44,214 28,835 81,853 Total gold certificate reserves 19,390,865 931,027 4,896,7551109,549 1814,529 1096,004 964,160 3416,720 790,231 445, 233 743,135 695,444 2488,078 F.R. notes of other Banks 308,091 22,967 66,423 22,317 9,862 25,789 46,484 25,412 10,743 12,916 17,957 14,249 Other cash 359,160 24,312 65,780 20,037 32,158 21,715 32,447 56,102 24,608 9,949 12,350 13,204 Discounts and advances 780,274 Industrial loans Acceptances-- Bought outright 25,396 U. S. Govt, securities: Bought outright— Bills 2,381,900 Certificates 18,649,726 Notes 2,867,565 Bonds 2,483,771 Total 26,382,962 Held under repurchase agreement 35,500 Total U. S. Govt, sees. 26.4l8.462 Total loans & securities 27,224,132 Due from foreign banks 15 Uncollected cash items 6,409,262 Bank premises 96,381 Other assets 213x313 TOTAL ASSETS OfDC 29,825 173,760 41,802 39,005 62,950 56,794 133,617 18,534 26,654 104,140 25,839 67,354 25,396 129,134 599,410 135,831 206,220 152,650 125,536 412,193 96,872 54,252 102,672 95,072 272,058 1011,095 4,693,24l 1063,519 l6l4,656 1195,224 982,915 3227,372 758,484 424,785 803,897 744,385 2130,153 155,465 721,628 163,526 248,268 183,777 151,132 496,238 116,624 65,315 123,606 114,456 327,530 134,658 625,046 l4l,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 1430,352 6,639,325 1504,515 2284,184 1690,831 1390,488 4565,624 1072,995 600,925 1137,238 1053,050 3013,435 1430,352 6.674.825 1504.515 2284.184 1.690.831 1390.48 84565.624 1072.995 600.925 1117.218 1051.050 1011.415 1460,177 6,873,981 1546,317 2323,189 1753,781 1447,282 4699,24i 1091,529 627,579 I24l,378 1078,889 3080,789 % 1 1 /4 l 1 l 12 1 1 11 416,707 1,139,941 373,022 641,871 529,332 539,889 1033,547 275,696 178,524 319,786 288,304 672,543 4,497 10,143 4,143 9,304 6,992 9,771 13,262 6,965 5,153 4,701 9,125 12,325 11.643 52.450 11.825 18.145 11.489 12,219 15.917 8.791 4,814 , 9,989 8,76) 25,028. 54,001,219 2871,331 13,105,477 3087,211 4849,259 3447,103 3052,253 9280,223 2208,566 1284,288 2349,297 2107,977 6358,234 1/ After deducting $11,000 participations of other Federal Reserve Banks. Dig2it/iz edL feors FsR AtShEaR n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 15, 1959 , . Phi la- Cleve- , ... . L, . St. Minne- Kansas San Total Bosto T n T New York Richmond Atlanta [Chicago city Dallas Francisco delphia land Loulg apolis LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,612,207 1612,581 6,390,568 1758,998 2550,065 2066,037 1497,647 5262,449 1209,879 616,375 1109,792 787,541 2750,275 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,499,629 760,666 5,008,871 882,640 1559,607 816,196 980,713 2830,570 665,647 447,230 881,938 943,463 2722,088 UUUUU.....SSSSS.....TTTTTrrrrreeeeeeeeeesssss.....----- gggggeeeeennnnn.....aaaaaccccccccccttttt..... 421,983 31,449 38,857 24,609 33,413 42,722 19,396 52,565 39,849 22,289 23,003 31,572 62,259 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 239,948 12,650 1/74,348 15,180 20,700 11,500 10,810 34,040 8,510 5,520 8,970 11,960 25,760 OOOOOttttthhhhheeeeerrrrr 335,154 693 281,619 1,566 881 3,317 1,595 1,607 495 345 1,261 1,238 40,537 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,496,714 805,458 5,403,695 923,995 l6l4,6oi 873,735 1012,514 2918,782 714,501 475,384 915,172 988,233 2850,644 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,399,874 369,434 904,709 306,277 550,427 429,568 469,831 876,601 226,751 155,816 264,253 256,248 589,959 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 35,884 2,094 9,717 1,859 3,169 1,938 1,796 5,861 1,282 1,064 1,468 1,976 3,660 ! TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 52,544,679 2789,567 12,708,689 2991,129 4718,262 3371,278 2981,788 9063,693 2152,413 1248,639 2290,685 2033,998 6194,538 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 380,626 18,843 109,712 22,730 35,961 17,057 19,618 52,115 12,713 8,660 15,545 21,882 45,790 SSSSSuuuuurrrrrpppppllllluuuuusssss 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 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 207,504 12,805 48,174 13,745 18,393 13,922 11,373 32,256 9,694 6,204 10,132 8,66l 22,145 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 54,001,219 2871,331 13,105,477 3087,211 4849,259 3447,103 3052,253 9280,223 2208,566 1284,288 2349,297 2107,977 6358,234 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn,,,,, cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 74,093 4,075 2/20,741 4,891 6,669 3,705 3,483 10,967 2,742 1,778 2,890 3,853 8,299 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 355 FEDERAL RESERVE AGENTS' ACCOUNTS PP.. RR.. nnootteess oouuttssttaannddiinngg 28,511,741 1666,837 6,610,771 1815,223 2599,838 2139,529 1563,172 5370,88 61251,852 630,920 1140,020 831,954 2890,739 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 148,062 -- 26,680 -- -- — - —— 17,905 103,477 ~ - 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 29,608,062 1730,000 6,920,000 1866,680 2670,000 2170,000 1600,000 5500,000 1382,905 650,000 1253,477 865,000 3000,000 1/ After deducting $165,600,000 partiL cipations of other Federa lReserve Banks. 2/ After deducting $53,352,000 partL:c ipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis