H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM August 13, 1959 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, 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 August 12 decreased $7'+ million to $18,622 million. Estimated required reserves decreased $223 million; and estimated excess reserves increased $149 million to $577 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $496 million, compared with $606 million the week "before. The principal changes reducing average reserves were increases of $146 million in money in circulation and $37 million in "other" F. R. accounts (net), and a decrease of $101 million in U, S. Government securities held under repurchase agreement. The principal offsetting changes were increases of $157 million in U. S. Government securities bought outright and $39 million in member bank borrowings, and a decrease of $28 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $74 million. As of Wednesday, August 12, holdings of U. S. Government securities bought outright were $79 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $34 million lower, and member bank borrowings were $39 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 12, August 5, August 13, August 12, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26, 597 +157 + 971 26,597 Held under repurchase agreement 8 -101 12 2 - Acceptances--bought outright 24 - 1 12 22 - Loans, discounts, and advances-- Member bank borrowings 1,073 + 39 + 844 591 Other * Float 771 - 19 - 3 741 Total Reserve Bank credit 28,473 + 74 +1,788 27,953 Gold stock 19,619 - 7 -1, 535 19,600 Treasury currency outstanding 5,282 - 6 + 72 5,282 53,373 + 60 + 325 527835 Money in circulation 32,071 +l46 + 780 32,048 Treasury cash holdings 401 - 5 - 298 4oi Treasury deposits with F. R. Banks 475 - 28 - 29 514 Foreign deposits with F. R. Banks 257 - 20 - 43 275 Other deposits with F. R. Banks 343 + 3 + 14 368 Other F. R. account s(net) 1,203 + 37 + 37 1,203 3^,751 +134 + 462 34,809 Member bank reserves-- 18,622 - 74 138 18,026 Required reserves (estimated) 18,045 -223 - 28 18,005 3xcess reserves (estimated) 577 +149 110 21 - *Less than $500,000. On August 12, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,171 million, an increase of $13 million for the week and an increase of $859 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 August 12, August 5, August 13, 1959 1959 1958 A S S E TS Gold certificate account 18,371,142 - 25,000 1,320,750 Redemption fund for F. R. notes 932,755 1,509 + 70,771 Total gold certificate reserves 19,303,897 - 26,509 - 1,249,979 F. R. notes of other Banks 353,404 + l, 415 + 10,449 Other cash 377,453 3,154 + 8,671 Discounts and advances 591,264 - 39,456 + 409,445 Industrial loans - - — - 342 Acceptances—bought outright 22,247 2,253 - 10,343 U. S. Government securities: Bought outright-- Bills 2,595,700 + 79,300 + 1,077,390 Certificates 10,506,993 -11,000,298 — — Notes 11,010,298 +11.000,298 — W Bonds 2,483,771 Total bought outright 2675937762 + 79,300 + 1,077,390 Held under repurchase agreement 1,500 34,400 + 1,500 Total U. S. Government securities 26,598,262 + 44,900 + 1,078,890 Total loans and securities 27,211,773 + 3,191 + 1,477,650 Due from foreign banks 15 - - — «* Uncollected cash items 5,391,342 + 581,900 + 232,573 Bank premises 96,185 + 29 + 6,306 Other assets 209,989 + 17,436 + 44,929 TOTAL ASSETS 52,944,058 + 574,308 4- 530,599 L I A B I L I T I ES Federal Reserve notes- 27,601,174 + 52,209 + 719,796 Deposits: Member bank reserves 18,026,342 210,153 561,009 U. S. Treasurer—general account 514,362 + 127,451 + 31,451 Foreign 274,989 - 2,076 - 51,935 Other 367,875 + 33,808 + 46,126 Total deposits 19,183,568 - 50,970 - 535,367 Deferred availability cash items 4,650,121 + 554,022 + 256,755 Other liabilities and accrued dividends 38,861 + 1,983 + 23,084 TOTAL LIABILITIES 51,473,724 + 557,244 + 464,268 C A P I T AL A C C O U N TS Capital paid In" 381,028 + 156 + 26,045 Surplus 868,410 l/+ 31,669 Other capital accounts 220,896 + 16,908 + 8,617 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,944,058 4" 574,308 + 530,599 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.3$ -- - 2.8$ Contingent liability on acceptances purchased for foreign correspondents 70,798 2,221 - 35,254 Industrial loan commitments 355 -- - 686 1/ Net change after elimination of Sec. 13 bsurplus of $27,5 43,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 12, 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 583,153 5,317 466,050 16 days to 90 days 7,891 16,930 1,288,550 91 days to 1 year 220 11,349,593 Over 1 year to 5 years 12,023,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 591,264 22,247 26,598,262 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDIT][ ON OF EACH FEDERAL RESERVE BANK ON AUGUST 12, 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) A S S E TS Gold certificate account 18,371,142 852,956 4,850,535 1037,262 1601,942 1038,001 896,026 3242,492 709,719 406,399 725,908 633,462 2376,440 Redemption fund for F. R. notes 932,755 55,878 192,595 60,417 85,079 78,550 57,621 176,254 42,825 23,370 44,030 29,707 86,429 Total gold certificate reserves 19,303,897 908,834 5,043,130 1097,679 1687,021 1116,551 953,647 3418,746 752,544 429,769 769,938 663,169 2462,869 F.R. notes of other Banks 353,404 36,636 69,952 30,017 10,382 30,676 56,011 24,836 8,438 19,532 20,251 12,382 34,291 Other cash 377,453 25,863 68,04l 23,240 32,955 23,819 37,511 56,168 24,744 9,715 12,552 12,651 50,194 Discounts and advances 591,264 36,425 64,855 12,990 100,295 31,808 56,180 137,112 13,150 14,369 53,145 40,335 30,600 Acceptances— Bought outright 22,247 — — 22,247 -- -- -- - - M — — — «• - — — U. S. Govt. securities: Bought outright— Bills 2,595,700 140,726 653,213 148,023 224,731 166,352 136,804 449,192 105,567 59,121 111,887 103,605 296,479 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 134,658 625,046 141,639 215,040 ,159,180 130,905 429,821 101,011 107,063 99,137 283,694 Total 26,596,762 1441,944 6,693,128 1516,707 2302,695 1704,533 1401,756 4602,623 1081, ($0 "?05,'794 1146,453 1061,583 3037,856 Held under repurchase agreement 1,500 - - 1, 500 " Total U. S. Govt, sees. 26,598,262 1441,944 6,694,628 1516,707 2302,695 1704,533 1401,756 4602,623 1081,690 605,794 1146,453 1061,583 3037,856 Total loans & securities 27,211,773 1478,369 6,781,730 1529,697 2402,990 1736,341 1457,936 4739,735 1094,840 620,163 1199,598 1101,918 3068,456 Due from foreign banks 15 1 1/4 1 1 1 12 1 2/ 1 11 Uncollected cash items 5,391,3^2 374,154 9567993 336,008 462,170 444,208 502,946 836,413 235,089 158,720 258,739 260,703 565,199 Bank premises 96,185 4,463 10,115 4,125 9,347 6,877 9,636 13,214 6,943 5,141 4,687 9,107 12,530 Other assets 209,989 11,104 51.559 11,614 18,276 13,297 12,018 35,821 8,581 4,734 9,904 8,426 24,655 TOTAL ASSETS 52,944,058 2839,424 12,981,524 3032,381 4623,142 3371,770 3029,706 9124,935 2131,180 1247,774 2275,670 2068,357 6218,195 1/ 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 AUGUST 12, 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 27,601,174 1598,983 6,392,071 1745,247 2546,973 2066,599 1513,044 5264,278 1206,047 612,656 1111,775 790,050 2753,451 Deposits: Member bank reserves 18,026,342 764,774 4,937,392 852,770 1454,444 789,135 956,348 2796,938 633,657 419,434 841,775 924,312 2655,363 U.S.Treas.-gen.acct. 53.4,362 27,007 89,764 22,928 41,229 40,452 33,454 66,512 30,626 31,866 36,062 28,561 65,901 Foreign 274,989 14,905 1/79,869 17,886 24,390 13,550 12,737 40,108 10,027 6,504 10,569 14,092 30,352 Other 367,875 398 312,409 1,581 1.148 2,819 1.538 527 599 586 1.198 871 44.001 Total deposits 19,183,568 807,084 5,419,434 895,165 1521,211 845,956 1004,077 2904,085 674,909 458,390 889,8o4 967,836 2795,617 Deferred availability cash items 4,650,121 348,562 759,569 293,064 419,125 380,334 439,512 731,373 191,914 139,207 213,242 233,735 500,484 Other liabilities and accrued dividends 38,861 2,286 9,628 2,0623,734 2,324 1,980 6,360 1,415 1,556 1,645 1,659 4,212 TOTAL LIABILITIES 51,473,724 2756,915 12,580,702 2935,538 4491,043 3295,213 2958,613 8906,096 2074,285 1211,809 2216,466 1993,280 6053,764 CAPITAL ACCOUNTS Capital paid in 381,028 18,967 109,747 22,755 35,992 17,114 19,637 52,116 12,722 8,671 15,566 21,925 45,816 % Surplus 868,410 50,116 238,902 Mi 44,846 33,746 20,785 32,935 43,436 nil. Other capital accounts 220,896 13.426 52,173 14,597 10,427 6,509 10,703 9,716 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,944,058 2839,424 12,981,524 3032,381 4623,142 3371,770 3029,706 9124,935 2131,180 1247,774 2275,670 2068,357 6218,195 Conting. liab. on acceptances purchased for foreign correspondents 70,798 3,872 2/20,110 4,646 6,336 3,520 3,309 10,419 2,605 1,689 2,746 3,661 7,885 Industrial loan commit. 355 15 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,480,370 1648,891 6,607,726 1797,050 2605,253 2140,625 1579,073 5367,003 1253,798 628,399 H4l,ll6 834,080 2877,356 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 79,285 -- -- 12,990 — -- -- -- 13,150 -- 53,145 "" - ~- U. S. Govt, securities 18,810,000 1150,000 4,000.000 1200.000 1750,000 1500.000 1100.000 3500.000 915.000 450,000 850.000 575,000 1800.000 Total collateral 29,639,285.1 730,000 6,920,000 1852,990 2670,000 2170,000 1600,000 5500,000 1378,150 650,000 1203,145 865,000 3100,000 1/ After deducting $195,120,000 participations of other Federal Reserve Banks 2/ After deducting $50,688,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis