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 20, 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 reserve sfor the week ended August 19 decreased $113 million to $18,509 million. Estimated required reserves decreased $16 millionj and estimated excess reserves decreased $97 million to $438 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $507 million, compared with $538 million the week before. The principal changes reducing average reserves were decreases of $128 million in member bank borrowings and $74 million in Federal Reserve holdings of U. S. Government securities ,and increases of $163 million in Treasury deposits with Federal Reserve Banks and $43 million in "other1 1F. R. accounts (net). The principal offsetting change was an increase of $294 million in Federal Reserve float. Total Reserve Bank credit increased $89 million. As of Wednesday, August 19, holdings of U. S. Governmen tsecurities bought outright were $104 million lower than a wee kearlier, U. S. Government securities held under repurchase agreement were $4l million higher, and member bank borrowings were $67 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, August 19, August 12, August 20, August 19, and related items 1959 1959 1958 1959 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,525 - 72 +1,119 26,493 Held under repurchase agreement 6 - 2 + 6 43 Acceptances—bought outright 22 - 2 - 12 21 Loans, discounts, and advances- Member bank borrowings 945 -128 + 729 524 Other * Float 1,065 +294 + 57 t 968 Total Reserve Bajik credit 28,562 + 89 +1,097 28,049 Gold stock 19,601 - 18 -1,485 19,600 Treasury currency outstanding 5,282 -- + 72 5,282 53>45 + 72 + 485 52,932 Money in circulation 32,051 - 20 + 756 31,991 Treasury cash holdings 397 - 4 - 2 99 397 Treasury deposits with F. R. Banks 638 +163 4- 110 517 Foreign deposits with F. R. Banks 256 - 1 - 3 259 Other deposits with F. R. Banks 349 + 6 + 48 345 Other F. R. accounts (net) 1,246 + 43 13 1,306 34,937 +186 + 625 34,814 Member bank reserves-- 18,509 -113 139 18,117 Required reserves (estimated) 18,071 - 16 + 44 18,088 Excess reserves (estimated) 438 - 97 183 29 ~ *Less than $500,000. On August 19, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,20 8million, an increase of $37 million for the week an dan increase of $836 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 TIvELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since August 19, August 12, August 20, 1959 1959 1958 A S S E TS Gold certificate account 18,371,6^2 - 100 - 1,259,851 Redemption fund for F. R. notes M l: 1,961 4" 59,627 Total gold certificate reserves 19 2,061 - 1,200,224 F. R. notes of other Banks 383,411 + 30,007 + 45,662 Other cash 386,381 + 8,928 + 11,640 Discounts and advances 524,092 - 67,172 + 283,918 Industrial loans -- - 341 Acceptances--bought outright 20,554 1,693 - 11,520 U. S. Government securities: Bought outright— Bills 2,492,200 - 103,500 + 1,180,590 Certificates 10,506,993 -11,000,298 Notes 11,010,298 +11,000,298 Bonds 2,483,771 Total bought outright 26,493,262 - 103,500 + 1,180,590 Held under repurchase agreement 42,900 + 41,400 + 42,900 Total U. S. Government securities 26,536,162 62,100 + 1,223,490 Total loans and securities 27,080,808 - 130,965 + 1,495,547 Due from foreign banks 15 Uncollected cash items 5,732,23?*+ 340,891 + 598,317 Bank premises 96,942 + 757 + 6,886 Other assets 122,903 - 87,086 + 16,074 TOTAL ASSETS 53,104,529 + 160,471 973,902 L I A B I L I T I ES Federal Reserve notes 27,576,906 24,268 + 721,616 Deposits: Member bank reserves 18,117,452 + 91,110 460,625 U. S. Treasurer--general account 516,938 + 2,576 + 68,612 Foreign 258,791 16,198 + 5,982 Other 344,555 + 36,040 Total deposits 19,237,736 + 349,991 Deferred availability cash items 4,764,418 + 114,297 + 505,444 Other liabilities and accrued dividends ,37,580 1,281 + 22,744 TOTAL LIABILITIES 51,616,640 142,916 + 899,813 C A P I T AL A C C O U N TS Capital paid-in 381,807 779 + 26,114 Surplus 868,410 -- l/+ 31,669 Other capital accounts 237,672 + 16,776" j_ 16,306 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,104,529 + 160,471 + 973,902 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 41.2$ 2.9% Contingent liability on acceptances purchased for foreign correspondents 74,415 3,617 - 23,739 Industrial loan commitments 350 5 - 686 1/ Net change after elimination of Sec. 13 bsurplus of $27,543,000 on Sept. 2, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 19, 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 516,479 5,864 459,110 16 days to 90 days 7,413 14,690 6,275,300 91 days to 1 year 200 11,807,683 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 524,092 20,554 26,536,162 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BAKK OCT AUGUS T19, 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 18,371,642 911,126 4,665,437 1069,276 1615,725 1044,i4l 867,684 3352,648 689,979 369,628 747,876 642,924 2395,198 Redemption fund for F. R. notes 930,794 55,775 192,048 60,264 84,937 78,056 57,508 176,089 42,773 23,332 43,992 29,680 86,340 Total gold certificate reserves 19,301,636 966,901 4,857,485 1129,540 1700,662 1122,197 925,192 3528,737 732,752 392,^60 791,868 672,604 2481,538 F.R. notes of other Banks 383,411 42,357 76,552 30,502 13,104 29,394 59,665 26,617 10,200 22,475 21,997 12,397 38,151 Other cash 386,381 25,841 70,407 23,629 35,531 24,331 35,481 58,852 24,763 8,803 13,284 12,964 52,495 Discounts and advances 524,092 22,650 50,810 8,l4o 69,895 21,933 103,130 110,392 21,500 34,890 39,642 34,110 7,000 Acceptances— Bought outright 20,554 20,554 U. S. Govt, securities: Bought outright— Bills 2,492,200 135,114 627,167 142,121 215,770 159,719 131,349 431,281 101,358 56,764 107,426 99,474 284,657 Certificates 10,506,993 569,637 2,644,10b 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 2,483,771 lj4^658_ 625,046 141,639 215,o4o 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 26,493,262 1436,332 1)76577582 T510:805 2293,7^697:900 "139^7301'¥584,712 10777481" "6037437 1151,992 1057,452 3026,034 Held under repurchase agreement 42,900 42,900 Total U. S. Govt, sees. 26,536,162 1436,332 6,709,982 1510,805 2293,734 1697,900 1396,301 4584,712 1077,481 603,437 1141,992 1057,452 3026,034 Total loans & securities 27,080,808 1458,982 6,781,346 1518,945 2363,629 1719,833 1499,431 4695,104 1098,981 638,327 1181,634 1091,562 3033,034 Due from foreign "banks 1 \ 15 1 1 /4 1 1 l 12 1 2//HT 1 1 1 Uncollected cash items 5,732,^33 407,710 1,000,081 348,464 501,229 453,118 462,017 901,386 234,852 168, ffjl 289,180 283,475 682,150 Bank premises 96,942 4,463 10,117 4,125 9,357 6,878 9,636 13,504 6,943 5,142 4,692 9,555 12,530 Other assets 122,903 6,593 29,640 6,657 10,559 7,679 7,480 20,300 5,062 2,850 6,207 5,175 14,701 TOTAL ASSETS 53,104,529 2912,848 12,825,632 3061,863 4634,072 3363,431 2998,903 9244,502 2113,554 1238,528 2308,863 2087,733 6314,600 l/ After deducting $11,000 participations of other Federa lReserve Banks, _2/ Less than $500. J ft Lj~ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON AUGUST 19, 1959 H.4.1(c) — 1 1 ' St. Phila- Cleve- Minne- Kansas San Total Boston NNeeww YYoorrkk delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 27,576,906 1593,104 6,400,643 1742,067 2543,583 2067,937 1508,739 5264,549 1204,302 612,023 1108,099 791,746 2740,114 Deposits: 823,422 4,795,790 878,408 1496,471 775,306 972,903 2858,243 631,168 415,162 857,573 926,778 2686,228 Member "bank reserves 18,117,452 37,637 67,094 25,359 31,177 44,127 31,821 86,082 29,704 24,140 33,961 30,871 74,965 U.S.Treas.-gen.acct. 516,938 14,135 1/73,751 16,962 23,130 12,850 12,079 38,036 9,509 6,168 10,023 13,364 28,784 Foreign 258,791 654 290,587 1,828 1,020 2,64o 1,243 556 332 379 2,831 41,530 Other 344,555 875,848 " 5,227^22 2922^557 1551,798 834,923 1018,046 2982,917 670,713 445,849 904,388 971,968 2831,507 Total deposits 19,237,736 Deferred availability 782,782 297,581 401,715 380,813 398,130 769,144 179,738 142,840 234,868 246,570 571,923 cash items 4,764,418 358,314 Other liabilities and accrued dividends 37,580 22,1,929 , 7 66 1,848 3,381 2,148 1,978 5,998 1,345 1,_491 1j.T24 ^ 4,163 TOTAL LIABILITIES 51,616,640 1829,458 12,420,413 2964,053 4500,477 3285,821 2926,893 9022,608 2056,098 1202,203 2248,901 2012,008 6l4?,707 CAPITAL ACCOUNTS Capital paid in 381,807 18,971 109,751 22,760 35,994 17,114 19,661 52,164 12,733 8,677 15,598 21,926 46,458 Surplus 868,410 50,116 238,902 59,607 76,643 44,846 39,474 132,159 33,746 20,785 32,935 *6,436 95,76l Other capital accounts 237,672 14,303 56,566 15,443 20,958 15,650 12,875 37,571 10,977 6,863 11,429 10,363 24,674 TOTAL LIABILITIES AND 53,104,529,2912,848 12,825,632 3061,863 4634,072 3363,431 2998,903 9244,502 2113,554 1238,528 2308,863 2087,733 6314,600 CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 74,415 4,092 2/20,847 4,910 6,696 3,720 3,497 11,011 2,753 1,785 2,902 3,869 8,333 Industrial loan commit. 350 10 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,489,354 1650,720 6,631,346 1791,292 2597,464-2136, fe8b 1582,553 53% 075 12497W" 627,555 1137,542 039,430 2867,200 Collat. for F. R. notes: 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 Gold certificate acct. 10,750,000 Eligible paper 69,282 -- 8,140 -- -- — — 21,500 -- 39,642 -- -- 1150,000 4,000,000 1200,000 1750,000 1500,000 1200,000 3500,000 935,ooo 450,000 850,000 575,000 1800,000 U. S. Govt, securities 18,910,000 1730 000 6,920,000 1848,140 2670,000 2170,000 1700,000 5500,000 1386,500 650,000 1189,642 865,000 3100,00° Total collateral 29,729,252 1/ After deducting $185,040,000 participations of other Federa lReserve Banks. 2/ After deducting $53, 568,000 participations of other Federa lReserve Banks < Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis •L