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 30, 1959 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ended July 29 decreased $274 million to $.18,702 million. Estimated required reserves decreased $124 million; and estimated excess reserves decreased $150 million to $4l4 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $476 million, compared with $348 million the week before. The principal changes reducing average reserves were decreases of $301 million in Federal Reserve float and $33 million in gold stock ,and an increase of m>99 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $153 million in money in circulation and $46 million in "other" F. R. account s(net). Total Reserve Bank credit decreased $331 million. As of Wednesday, July 29, U. S. Government securities held under repurchase agreement were $38 million lower than a week earlie rand member bank borrowings were $54 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, July 29, July 22, July 30, July 29, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26, 408 + 18 +1,373 26,408 Held under repurchase agreement 51 - 8 + 51 51 Acceptances-- Bought outright 27 11 25 Held under repurchase agreement - - - 1 -- Loans, discounts, and advances-- Member bank borrowings 890 - 22 + 782 631 Other - - - 17 * «• — Float 998 -301 + 175 745 Total Reserve Bank credit 28,374 -331 +2,369 27,860 Gold stock 19,636 - 33 -1,616 19,636 Treasury currency outstanding 5, 291 % 4" + I + 85 5,29I " *3 53,3Q0r -362 + 839 52,788- 1 Money in circulation 31,899%) -153 + 8o4 31, 8.56"+'i Treasury cash holdings 403 - 9 - 294 402 Treasury deposits with F. R. Banks 559 + 99 + 16 630 Foreign deposits with F. R. Banks 271 + 16 - 29 281 Other deposits with F. R. Banks 340 + 6 + 7 337 Other F. R. account s(net) 1,137 - 46 4- 96 1,137 3%T599"-3- - 89 + 599 34,6L3 16? Member bank reserves-- 18,702 -274 + 240 18,145 Required reserves (estimated) -124 + 464 18,267 Excess reserves (estimated) 4l4 -150 224 -122 - * Less than $500,000. On July 29, 1959, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $4,126 million, an increase of $31 million for the week and an increase of $969 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 29, July 22, July 30, 1959 1959 1958 A S S E TS Gold certificate account 18,4o6, l4l + 4,997 -1,352,751 Redemption fund for F. R. notes 936,862 - 2,437 + 74,700 Total gold certificate reserves 19,343,003 + 2,560 -1,276,051 F. R. notes of other Banks 387,985 + 19,993 + 12,098 Other cash 392,324 + 6,009 + 16,737 Discounts and advances 631,370 - 70,944 + 504,950 Industrial loans -- «»•» 342 Acceptances--bought outright 25,397 + 3 8,796 U. S. Government securities: Bought outright— Bills 2,406,900 + 401,340 Certificates 18,649,726 —- -1,296,379 Notes 2,867,565 m mm +2,857,565 Bonds 2,483,771 - - - 470,836 Total bought outright 26,407,962 - - +1,491,690 Held under repurchase agreement 51,000 - 38,000 + 51,000 Total U. S. Government securities 26,458,962 - 38,000 +1,542,690 Total loans and securities 27,115,729 - 108,941 +2,038,502 Due from foreign banks 15 Uncollected cash items 5,020,4-30 - 697,773 + 391,844 Bank premises 96,199 103 + 6,520 Other assets 240,961 + 1ft 155 - 29,380 TOTAL ASSETS 52,596,646 - 764,100 +1,158,270 L I A B I L I T I ES Federal Reserve notes 27,454,488 - 64,322 + 700,248 Deposits: Member bank reserves 18,l44,921 - 490,188 66,138 U. S. Treasurer--general account 629,507 + 178,948 68,270 Foreign 281,150 + 17,444 6,i4o Other 336,866 1,678 4, o4o Total deposits 19,392,W - 295,474 + 32 Deferred availability cash items 4,275,789 - 373,471 + 384,120 Other liabilities and accrued dividends 36,018 + 118 + 20,132 TOTAL LIABILITIES 51,158,739 - 733,149 +1,104,532 C A P I T AL A C C O U N TS Capital-paid In" 380,820 + 94 26,061 Surplus 868,410 1A 31,669 Other capital accounts 188,677 - 31,045 3,992 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,596,646 - 764,100 +1,158,270 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.3$ 3-4# Contingent liability on acceptances purchased for foreign correspondents 74,621 1,594 - 33,784 Industrial loan commitments 355 631 1/ Net change after elimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 29, 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 621,421 77545" 0,631,323 16 days to 90 days 9,713 18,151 1,174,710 91 days to 1 year 236 11,301,593 Over 1 year to 5 years 3,881,179 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 631,370 25,397 26,458,962 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON JULY 29, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Franciscc (In thousands of dollars) A S S E TS Gold certificate account 18,4o6, l4l 879,423 4,772,806 1074,790 1786,082 1059,505 871,565 3247,029 691,508 395,566 664,733 661,181 2301,953 Redemption fund for F. R. notes 936,862 56,166 193,61)8 60,865 84,542 79,702 58,036 176,775 42,964 23,528 44,153 29,789 86,694 Total gold certificate reserves 19,343,003 935,589 4,966,454 1135,655 1870,624 1139,207 929,601 3423,804 734,472 419,094 708,886 690,970 2388,647 F.R. notes of other Banks 387,985 34,330 71,859 31,393 14,348 32,095 56,865 31,852 13,321 20,789 22,565 18,036 40,532 Other cash 392,324 25,873 73,037 22,284 34,496 26,075 36,577 58,242 27,498 9,809 14,518 14,551 49,364 Discounts and advances 631,370 23,075 68,985 15,595 21,138 40,385 85,995 137,343 26,300 42,679 80,065 22,760 67,050 Industrial loans Acceptances— Bought outright 25,397 -- 25,397 -- " - - -- -- - - U. S. Govt, securities: Bought outright— Bills 2,406,900 130,490 605,701 137,256 208,385 154,253 126,853 4l6,520 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 2,867,565 155,465 721,628 163,526 248,268 183,777 151,132 496,238 116,624 65,315 123,606 114,456 327,530 Bonds 2,483,771 134,6.58 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283.694 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 51,000 51,000 Total U. S. Govt, sees. 26,458,962 1431,708 6,696,616 1505,940 2286,349 1692,434 1391,805 4569,951 1074,012 601,494 1138.315 1054.047 3016.291 Total loans & securities 27,115,729 1454,783 6,790,998 1521,535 2307,487 1732,819 1477,800 4707,294 1100,312 644,173 1218,380 1076,807 3083,341 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 5,020,430 355,444 923,884 304,539 457,437 393,920 412,088 804,336 212,4l4 139,058 234,844 227,705 554,761 Bank premises 96,199 4,463 10,143 4,122 9,371 6,964 9,676 13,229 6,965 5, l4l 4,701 9,130 12,294 Other assets 240,961 13,047 59,219 13,338 21,005 15,333 13,618 40.956 9,828 5.450 11,154 9.8l4 28.199 TOTAL ASSETS 52,596,646 2823,530 12,895,598 3032,867 4714,769 3346,414 2936,226 9079,715 2104,811 1243,514 2215,049 2047,014 6157,139 1/ After deducting $11,000 participations of other Federal Reserve Banks. Digi2tiz/e d Lfoer sFRsA StEhRa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 29, 1959 Fhila 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 27,454,488 1594,395 6,377,139 1744,837 2537,344 2062,905 1491,838 5235,525 1199,753 611,156 1102,708 783,399 2713,489 Deposits: Member bank reserves 18,144,921 759,391 4,918,346 874,812 1569,449 789,760 951,678 2832,531 625,727 431,426 800,398 929,950 2661,453 U.S.Treas.-gen.acct. 629,507 45,011 88,204 38,419 51,502 72,734 43,874 63,912 39,966 33,627 46,062 40,023 66,173 Foreign 281,150 15,125 1/83,150 18,150 24,750 13,750 12,925 40,700 10,175 6,600 10,725 14,300 30,800 Other 336,866 643 285,185 1,432 ^ PI o ^1P1 385 534 509 1.050 912 40.825 Total deposits 19,392,444 820,170 5,374,885 932,813 1646,698 879,345 1009,770 2937,528 676,402 472,162 858,235 985,185 2799,251 Deferred availability cash items 4,275,789 326,084 742,349 258,428 397,854 327,388 363,321 687,712 171,696 123,732 194,732 202,954 479,539 Other liabilities and accrued dividends 36,018 2,056 8,963 1,815 3,j>56 2,110 1.828 5.782 1.400 1,149 1,567 1.682 4.110 TOTAL LIABILITIES 51,158,739 2742,705 12,503,336 2937; 893 11.585,^52 3271,748 2866,757 8866,5^7 201*9,251 1208,199 2157^2^2 1973*220 5996^389 CAPITAL ACCOUNTS Capital paid in 380,820 18,858 109,733 22,751 35,966 17,094 19,632 52,125 12,717 8,669 15,560 21,905 45,810 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 188.677 11,851 43,627 12,616 16.708 12.726 10.363 28.884 9.097 5.861 9.112 8.45% 1Q.17Q TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,596,646 2823,530 12,895,598 3032.867 4714,769 3346.414 2936.226 9079.715 2104.811 1243.514 2215.049 2047.0l4 6157. HQ Conting. liab. on acceptances purchased for foreign correspondents 74,621 4,103 2/20,909 4,924 6,714 3,730 3,506 11,04l 2,760 1,791 2,909 3,879 8,355 Industrial loan commit. 255. 15- 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,439,60311655,287 6,602,194 1802,706 2590,239 2138,225 1564,275 5355,220 1258,482 627,735 1137,880 834,629 2872,731 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 121,960 15,595 -- — — — 26,300 -- 80,065 -- -- U. S. Govt, securities 18.810.000 1150,000 4.000.000 1200.000 1750.000 1500.000 1100.000 1500.000 915.000 450.000 850.000 575.000 1800.000 Total collateral . , . ,29,681,960 11730,000 6,920,000 1855,595 2670,000 2170,000 1600,000 5500,000 1391,300 650,000 1230,065 865,000 3100,000 1/ After deducting $190,000,000 participations of other Federal Reserve Ttanlfm J 2/ After deducting $53,712,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis