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 23, 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 July 22 increased $336 million to $3.8,976 million. Estimated required reserves increased $234 million; and estimated excess reserves increased $102 million to $564 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $348 million, compared with $540 million the week before. The principal changes supplying average reserves were an increase of $377 million in Federal Reserve float, and a decrease of $158 million in money in circulation. The principal offsetting changes were decreases of $90 million in member bank borrowings, $4$ million in Federal Reserve holdings of U. S. Government securities, and $26 million in gold stock, and an increase of $66 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $243 million. As of Wednesday, July 22, holdings of U. S, Government securities bought outright were $2$ million higher than a week earlier, U. S. Government securities held under repurchase agreement were $54 million higher, and member bank borrowings were $73 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, July 22, July 15, July 23, July 22, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,390 + 7 +1, 233 26,4o8 Held under repurchase agreement 59 - 52 + 59 89 Acceptances-- Bought outright 27 + l - 14 25 Held under repurchase agreement 1 + 1 4* 1 - - Loans, discounts, and advances—— Member bank borrowings 912 - 90 + 827 685 Other 17 - l + 17 17 Float 1,299 +377 4- 254 1,069 Total Reserve Bank credit 28,705 +243 +2,377 28,294 Gold stock 19,669 - 26 -1,611 19,637 Treasury currency outstanding 5,2 9» m - - + 87 5, 296 8"S 53T55gsk +217 + 852 53,221 Money in circulation 32,04g 3b -158 + 826 3 1 ,9^ b Treasury cash holdings 412 - 7 - 280 409 Treasury deposits with F. R. Banks 460 + 66 - 5 451 Foreign deposits with F. R. Banks 255 - 14 - 38 264 Other deposits with F. R. Banks 334 - 4 - 6 339 Other F. R. accounts (net) 1,183 ^ - 2 + 92 1,16a . 34,688^1 -119 + 589 34,586 H Member bank reserves-- 18,976 +336 + 264 18,635 Required reserves (estimated) 18,412 +234 + 488 18,363 Excess reserves (estimated) 564 +102 - 224 272 On July 22, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,095 million, an increase of million for the week and an increase of $951 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) Change since July 22, July 15, July 23, 1959 1959 1958 A S S E TS Gold certificate account 18,401,144 - 57,000 -1,407,748 Redemption fund for F. R. notes 939,299 + 6,578 + 75,142 Total gold certificate reserves 19,340,443 - 50,422 -1,332,606 F. R. notes of other Banks 367,992 + 59,901 - 12,909 Other cash 386,315 + 27,155 + 24,766 Discounts and advances 702,314 - 77,960 + 628,565 Industrial loans ** «• —— 342 Acceptances--bought outright 25,394 - 2 - 12,851 U. S. Government securities: Bought outright-- Bills 22,,44oo66,,990000 + 25,000 + 43,790 18,649,726 Certificates — — -1,296,379 Notes 2,867,565 — — +2,857,565 Bonds 2,483,771 — — - 419,811 25,000 Total "bought outright 26,407,962 4* +1,185,165 Held under repurchase agreement 89,000 + 53,500 + 89,000 Total U. S. Government securities 26,496; 962 + 78,500 +1,274,165 Total loans and securities 27,224,670 + 538 +1,889,537 Due from foreign banks 15 «. — — — Uncollected cash items 5,718,203 - 691,059 + 948,728 + 6,634 Bank premises 96,302 - 79 Other assets 226,806 + 13,493 27,840 TOTAL ASSETS 53,360,746 640,473 +1,496,310 - L I A B I L I T I ES Federal Reserve notes 27,518,810 - 93,397 + 761,019 Deposits: Member bank reserves 18,635,109 + 135,480 + 682 U. S. Treasurer—general account 450,559 + 28,576 - 61,675 Foreign 263,706 + 23,758 - 31,417 Other 338,544 + 3,390 + 19,363 Total deposits 19,687,918 + 191,204 - 73,047 Deferred availability cash items 4,649,260 - 750,614 + 737,328 Other liabilities and accrued dividends 35,900 + 16 + 20,809 TOTAL LIABILITIES 51,891,888 652,791 +1,446,109 - C A P I T AL A C C O U N TS Capital paid in 380,726 + 100 + 26,073 Surplus 868,410 1/+ 31,669 - - Other capital accounts 219,722 + 12,218 7,541 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,360,746 - 640,473 +1,496,310 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.o# - .2$ 33..44## Contingent liability on acceptances purchased for foreign correspondents 73,027 - 1,066 - 36,386 I •m nd u u .u s B t b r j i .x a aj l - - l L o o a a n n c c o o m mm m i i t tm me e n n t t s s 3P? 355 -- - oji. 631 1/ Net change after elimination of Sec. 13b surplus of $27,5^3,000 on Sept. 2, 1958• MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 22, 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 693,000 8,402 8,667,323 16 days to 90 days 9,111 16,992 1,167,910 91 days to 1 year 203 11,310,393 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,°59,772 Total 702,314 25,394 26,496,962 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL HESEHVE BANK OH JULY 22, 11995599 Total Boston New York d P e h l i p l h a i - a C l l a e n v d e - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s K C a i n t sa y s Dallas Fran Sa ci n s co A S S E TS (In thousands of dollars) Gold certificate account 18, 401, 144 853,682 4,919,819 1033,238 1754,837 988,375 869,865 3265,425 685,713 397,477 707,463 666,474 2258,776 Redemption fund for F. R. notes 939,299 56,307 194,176 61.090 84,751 80.286 58,225 177,004 41.027 2%.602 44.200 29.818 86.81% Total gold certificate reserves 19,340,443 909,989 1094,328 1839,588 1068,661 928,090 3442,429 728,740 421,079 751,663 696,292 2345,589 5,113,995 F.R. notes of other Banks 367,992 31,244 73,500 26,366 12,545 30,861 55,223 29,595 12,276 16,947 21,673 15,554 42,208 Other cash 386,315 25,745 73,725 22,006 35,206 25,002 33,134 57,505 26,491 9,537 14,167 15,890 47,907 Discounts and advances 702,314 15,750 21,060 49,902 45,097 86,955 71,794 145,527 28,274 23,039 94,243 21,494 99,179 Industrial loans Acceptances— Bought outright 25,394 25,394 U. S. Govt, securities: Bought outright-- Bills 2,406,900 130,490 605,701 137,256 208,385 154,253 126,853 416,520 97,889 54,821 103,749 96,069 274,914 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 2,867,565 721,628 163,526 183,777 155,465 248,268 151,132 496,238 116,624 65,315 123,606 114,456 327,530 Bonds 2.481.771 JL3&658 625.046 l4l.6l9 219.040 15Q.180 110,905 429.821 101.015 56,571 107,063 QQ.H7 Pfii-604 Total 26,407,962 1431,708 6,645,616 1505,940 2286,349 1692,434 1391,805 4569,951 1074,012 601,494 1138,315 1054,047 3016,291 Held under repurchase agreement 89,000 89,000 Total U. S. Govt, sees. 26,496,962 1431,708 6,734,616 1505,940 2286,349 1692,434 1391,805 4569,951 1074,012 601,494 1138,315 1054,047 3016,291 Total loans & securities 27,224,670 1447,458 6,781,070 1555,842 2331,446 1779,389 1463,599 4715,478 1102,286 624,533 1232,558 1075,541 3115,470 Due from foreign banks 15 1 1 /4 1 l 1 1 2 1 2/ 1 11 Uncollected cash items 5,718,203 440,311 1,022,169 338,894 518,132 430,825 459,207 907,186 225,806 156,112 299,572 277,145 642,844 Bank premises 96,302 4,497 10,143 4,122 9,295 6,985 9,768 13,263 6,965 5,153 4,701 9,130 12,280 Other assets 226,806 12,4.19 55,555 12,520 19,641 14,323 12,979 38,480 9,303 5,147 10,556 9,311 26.572 TOTAL ASSETS 53,360,746 2871,664 13,130,161 3054,079 4765,854 3356,047 2962,001 9203,938 2111,868 1238,508 2334,891 2098,864 6232,871 1/ After deducting $11,000 participations of other Federal Reserve Banks. Digitized for FRASER 2/ Less than $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H A.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 22, 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 FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,518,810 1601,460 6,380,143 1752,623 2543,602 2057,350 1492,089 5250,790 1203,696 614,570 1104,714 786,307 2731,466 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 798,052 5,160,021 875,306 968,736 2889,328 636,365 878,675 2670,208 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,635,109 1583,539 814,815 418,432 941,632 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 450,559 27,575 56,928 27,821 40,436 31,572 20,133 53,667 26,369 24,060 35,808 40,921 65,269 13,970 1/80,826 16,764 22,860 12,700 11,938 37,592 9,398 6,096 9,906 13,208 28,448 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 263,706 408 277.111 5.055 815 1.170 1.701 786 .105 311 1,055 805 46,820 OOOOOttttthhhhheeeeerrrrr 118.544 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,687,918 840,005 5,575,088 924,946 1647,650 862,257 1002,508 2981,373 672,437 448,899 925,444 996,566 2810,745 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,649,260 345,684 765,971 277,950 439,227 357,839 394,430 747,277 177,763 137,917 244,028 239,444 521,730 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 35,900 2,128 8,875 1,765 3,341 1,995 1,869 5,732 1,304 1,207 1,478 2,315 3,891 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,891,888 2789,277 12,730,077 2957,284 4633,820 3279,441 2890,896 8985,172 2055,200 1202,593 2275,664 2024,635 6067,832 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 380,726 18,858 109,729 22,743 35,966 17,061 19,622 52,117 12,716 8,664 15,556 21,888 45,806 CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 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 aaaaaccccccccccooooouuuuunnnnnttttt 219,722 13,413 51,453 14,445 19,425 14,699 12,009 34,490 10,206 6,466 10,736 8,908 23,472 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,360,746 2871,664 13,130,161 3054,079 4765,854 3356,047 2962,001 9203,938 2111,868 1238,508 2334,891 2098,864 6232,871 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr 4,010 4,811 6,561 3,645 3,426 10,789 2,697 1,750 2,843 8,165 fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 73,027 2/20,539 3,791 __ -- - - 15 - - - - -- — -- - - -- IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 355 340 FEDERAL RESERVE AGENTS' ACCOUNTS < FF.. 33.. nnootteess oouuttssttaannddiinngg 28,464,713 1660,539 6,612,4*9 1809,138 2591,766 2145,720 1559,992 5360,207 1245,209 629,367 1136,459 834,190 2079,627 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 580,000 2,920,000 64o,ooo 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,750,000 EElliiggiibbllee ppaappeerr 170,005 48,780 — — — — 27,645 — 93,580 1150,000 4,000,000 1200,000 1750,000 1500,000 1100,000 3500,000 935,000 450,000 850,000 575,000 1800,000 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,810,000 1730,000 6,920,000 1888,780 2670,000 2170,000 1600,000 5500,000 1392,645 650,000 1243,580 065,000 3100,000 TToottaall ccoollllaatteerraall 29,730,005 1/ After deducting $182,8<3 0,000 partiLC ipations of other Federal Reserve Banks. Dig2iti/ze dA fofrt FeRrA SdERe ducting $52,ht 38,000 partLic ipations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis