H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM August 6, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, 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 August 5 decreased $6 million to $18,696 million. Estimated required reserves decreased $55 million; and estimated excess reserves increased $49 million to $428 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $606 million, compared with $511 million the week before. The principal changes reducing average reserves were a decrease of $208 million in Federal Reserve float, and increases of $35 million in money in circulation and $29 million in "other" F. R. account s(net). The principal offsetting changes were increases of $l44 million in member ban kborrowings, $58 million in U. S. Government securities held under repurchase agreement, and $32 million bought outright, and a decrease of $56 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $25 million. As of Wednesday, August 5, holdings of U. S. Government securities bought outright were $110 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $15 million lower, and member bank borrowings were less than one million lower. Holdings of certificates decreased $8,143 million and notes increased a like amount, reflecting the exchange of certificates maturing August 1 for 4-3/4 per cent issue sof notes, $5,500 million maturing in i960 and $2,643 million maturing in 1964. Averages of daily figureS Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 5, July 29, August 6, August 5, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,440 + 32 +1., 200 26,517 Held under repurchase agreement 109 + 58 + 109 36 Acceptances--bought outright 25 - 2 8 25 - Loans, discounts, and advances-- Member bank borrowings 1,034 +144 + 922 631 Other "X" Float 790 -208 38 713 Total Reserve Bank credit 28,399 + 25 +2; 187 27,922 Gold stock 19,626 - 10 -1,569 19,626 Treasury currency outstanding 5,288-^ 1 - 3 + 81 5,284- 53,313- + 12 + 695 52,82&_ Money in circulation 31,92^"" 3- + 35 + 754 31,987— Treasury cash holdings 4o6—3 + 3 - 290 405 Treasury deposits with F. R. Banks 503 - 56 - 159 387 Foreign deposits with F. R. Banks 277 + 6 - 14 277 Other deposits with F. R. Banks 340 10 334 Other F. R. account s(net) 1,166 + 29 + 18 1,201 34,61?—0 + T5 298 34,592 . Member bank reserves-- 18,696 - 6 + 400 18,236 Required reserves (estimated) 18,268 - 55 + 530 18,190 __ Exces sreserves (estimated) 428 + 49 130 46 - * Less than $500,000. On August 5, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,158 million, an increase of $32 million for the week and an increase of $932 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since August 5, July 29, August 6, 1959 1959 1958 A S S E TS Gold certificate account 18,396,142 9,999 1,312,751 Redemption fund for F. R. notes 934,264 2,598 + 74,175 Total gold certificate reserves 19,3307505 - 12,597 1,238,576 -• F. R. notes of other Banks 351,989 - 35,996 + 5,114 Other cash 380,607 - 11,717 + 12,762 Discounts and advances 630,720 650 + 364,353 Industrial loans -- - 342 Acceptances--bought outright 24,500 897 - 8,180 U. S. Government securities: Bought outright-- Bills 2,516,400 + 109,500 + 1,159,690 Certificates 10,506,993 -8,142,733 -11,000,298 Notes 11,010,298 +8,142,733 +11,000,298 Bonds 2,483,771 Total bought outright 26,517,462 + 109,500 + 1,159,690 Held under repurchase agreement 35,900 - 15,100 + 35,900 Total U. S. Government securities 26,553,362 + 94,400 + 1,195,590 Total loans and securities 27,208,582 + 92,853 + 1,551,421 Due from foreign banks 15 Uncollected cash items 4,809,442 - 210,988 + 381,414 Bank premises 96,156 43 + 6,393 Other assets 192,553 - 48,408 + 39,683 TOTAL ASSETS 52,369,750 - 226,896' 758,211 L I A B I L I T I ES Federal Reserve notes 27,548,965 + 94,477 712,278 Deposits: Member bank reserves 18,236,495 + 91,574 312,749 U. S. Treasurer--general account 386,911 - 242,596 74,189 Foreign 277,065 4,085 9,644 Other 334,067 2,799 9,099 Total deposits 19,234,538 - 157,906 387,483 Deferred availability cash items 4,096,099 - 179,690 + 351,988 Other liabilities and accrued dividends 36,878 + 860 + 22,763 TOTAL LIABILITIES 50,916,480 - 242,259 + 699,546 C A P I T AL A C C O U N TS Capital paid in- 380,872 + 52 + 26,021 Surplus 868,410 — 1/+ 31,669 Other capital accounts 203,988 + 15,311 + 975 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,369,750 - 226,896 + 758,211 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.3# 3.0# Contingent liability on acceptances purchased for foreign correspondents 73,019 1,602 - 34,238 Industrial loan commitments 355 631 y Net change aftefelimination of Sec. 13b surplus of $27,543,000 on Sept. 2, 1958 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 5, 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 U. S. Government advances Acceptances securities Within 15 days 618,009 5,590 509,340 16 days to 90 days 12,479 18,910 1,205,860 91 days to 1 year 232 11,344,093 Over 1 year to 5 years 12,023,912 Over 5 years to 10 years 4io,385 Over 10 years 1,059,772 Total 630,720 24,500 26,553,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(h) STATEMENT OF CONDITC]O N OF EACH FEDERA LRESERVE BANK ON AUGUST 5, 1959 Phila- Cleve- 1 St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City- Dallas Francisco A S S E TS Gold certificate account 18,396,142 866,569 4,732,634 1086,504 1642,716 1074,461 864,886 3329,601 686,184 384,598 719,746 657,477 2350,766 Redemption fund for F. B. notes 914.264 56,o4o 193,092 60.661 84,126 79,048 57,825 176,527 42,895 23,445 44,088 29,752 86,563 Total gold certificate reserves 19, 330,406 922,609 4,925,726 1147,167 1727,042 1153,509 922,711 3506,128 729,079 408,043 763,834 687,229 2437,329 F.R. notes of other Banks 351,989 38,228 65,431 29,642 11,456 29,397 58,081 28,527 9,694 18,820 18,050 14,318 30,345 Other cash 380,607 26,292 69,966 22,134 35,432 23,938 35,312 56,315 25,754 9,318 13,604 14,900 47,642 Discounts and advances 630,720 24,020 86,780 17,235 46,195 43,825 94,990 131,576 27,645 23,789 58,980 43,085 32,600 Acceptances— Bought outright 24,500 24,500 U. S. Govt, securities: Bought outright— Bills 2,516,400 136,426 633,258 143,501 217,865 161,270 132,624 435,469 102,342 57,315 108,469 100,440 287,421 Certificates 10,506,993 569,637 2,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 239, 318 452,904 419,376 1200,098 Notes 11,010,298 596,923 2,770,763 627,873 953,250 705,628 580,287 1905,354 447,789 250,782 474,599 439,465 1257,585 Bonds 2.481.771 114.658 625.046 l4l.619 215.040 159.180 110.905 429.821 101,015 56.571 107,063 99,117 283,694 Total 26,517,462 1437,644 6,673,173 1512,185 2295,829 1699,451 1397,576 4588,900 1078,465 603,988 1143,035 1058,418 3028,798 Held under repurchase agreement 15.900 Total U. S. Govt. sees. 26,553,362 1417.644 6.709.071 1512,185 2295,829 1699,451 1197,576 4588,900 1078.465 601.988 1143,035 1058,4l8 3028,798 Total loans & securities 27,208,582 1461,664 6,820,353 1529,420 2342,024 1743,276 1492,566 4720,476 1106,110 627,777 1202,015 1101,503 3061,398 Due from foreign "banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,809,442 346,744 832,857 313,644 442,693 350,358 394,465 768,097 208,258 141,996 264,017 225,453 520,860 Bank premises 96,156 4,463 10,103 - 4,122 9,338 6,877 9,632 13,214 6,942 5, l4l 4,687 9,107 12,530 Other assets 192.551 10.557 46.750 10.629 16.977 12.151 11.085 12.855 7.914 4.116 9,128 7.659 22,510 TOTAL ASSETS 52,369,750 2810,558 12,771,190 3056,759 4584,963 3319,509 2923,853 9125,614 2093,752 1215,411 2275,336 2060,170 6132,635 l/ After deducting $11,000 participation sof other Federa lReserve Banks. Dig2iti/ze d Lfoer sFRsA StEhR an $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDIT]C ON OF EACH FEDERAl RESERVE BANK ON AUGUST 5, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York ' Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 27,548,96$ 1598,307 6,392,008 1745,828 2538,453 2066,852 1504,147 5248,470 1205,178 612,216 1107,530 786,454 2743,522 Deposits: Member bank reserves 18,236,495 767,171 4,916,022 904,867 1478,083 806,874 969,760 2893,128 637,817 417,498 842,647 967,642 2634,986 U.S.Treas.-gen.acct. 386,911 24,984 49,256 18,042 38,278 35,029 19,742 49,185 18,621 21,146 42,832 17,412 52,384 Foreign 277,065 15,125 1/79,065 18,150 24,750 13,750 12,925 40,700 10,175 6,600 10,725 14,300 30,800 Other 334,067 457 274,931 2,180 1,379 3,348 1,519 1,097 832 278 1,397 978 45,671 Total deposits 19,234,538 807,737 5,319,274 943,239 1542,490 859,001 1003,946 2984,110 667,445 445,522 897,601 1000,332 2763,841 Deferred availability cash items 4,096,099 320,710 654,164 269,962 369,669 316,04l 343,586 671,121 163,569 120,617 210,219 197,540 458,901 Other liabilities and accrued dividends 36,878 2,169 9,359 1,863 3,681 2,i44 1,952 6,093 1,363 1,462 1,520 1,443 3,829 TOTAL LIABILITIES 50,916,480 2728,923 12,374,805 2960,892 4454,293 3244,038 2853,631 8909,794 2037,555 1179,817 2216,870 1985,769 5970,093 CAPITAL ACCOUNTS Capital paid in 380,872 18,868 109,750 22,755 35,978 17,094 19,634 52,118 12,717 8,670 15,563 21,909 45,816 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 203,988 12,651 47,733 13,505 18,049 13,531 11,114 31,543 9,734 6,139 9,968 9,056 20,965 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 52,369,750 2810,558 12,771,190 3056,759 4584,963 3319,509 2923,853 9125,614 2093,752 1215,411 2275,336 2060,170 6132,635 Conting. liab. on acceptances purchased for foreign correspondents 73,019 4,004 2/20,603 4,805 6,552 3,640 3,422 10,774 2,693 1,747 2,839 3,786 8,154 Industrial loan commit. 355 15 340 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,382,571 1651,409 6,500,169 1796,514 2507,071 2142,500 1563,996 5340,532 1253,014 629,114 1133,913 032,702 2063,397 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,750,000 580,000 2,920,000 64o,ooo 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 103,860 — -- 17,235 — -- -- -- 27,645 — 58,980 -- - - UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,810,000 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 TToottaall ccoollllaatteerraall 29,663,860 1730,000 6,920,000 1057,235 2670,000 2170,000 1600,000 5500,000 1392,645 650,000 1200,900 065,000 3100,000 1/ After deducting $198,000,000 parti. cipations of other Federal Reserve Banks. 2/ After deducting $52,416,000 PartjL cipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis