H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOAED OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM August 27, 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 August 26 increased $77 million to $18,586 million. Estimated required reserves increased $53 million; and estimated excess reserves increased $24 million to $462 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $478 million, compared with $507 million the week before. The principal changes supplying average reserves were decreases of $100 million in money in circulation, $74 million in Treasury deposits with Federal Reserve Banks, and $28 million in "other" deposits with Federal Reserve Banks, and an increase of $49 million in U. S. Government securities held under repurchase agreement. The principal offsetting changes were a decrease of $115 million in Federal Reserve float and an increase of $48 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $77 million. As of Wednesday, August 26, holdings of U. S. Government securities bought outright were $26 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $43 million lower, and member bank borrowings were $28 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, August 26, August 19, August 27, August 26 and related items 1959 1959 I958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,518 - 7 +1,26l 26,519 Held under repurchase agreement 55 + 49 + 55 -- Acceptances--bought outright 21 - l - 12 21 Loans, discounts, and advances-- Member bank borrowings 940 - 5 + 670 552 Other 1 + 1 —— 5 Float 950 -115 93 761 Total Reserve Bank credit 28,485 - 77 +2,068 27,858 Gold stock 19,600 - 1 -1,486 19,600 Treasury currency outstanding 5,283 + 1 + 72 5,283 53,369 - 76 + 655 52,741 Money in circulation 31,951 -100 + 702 31,887 Treasury cash holdings 395 - 2 - 293 395 Treasury deposits with F. R. Banks 564 - 74 + 78 534 Foreign deposits with F. R. Banks 257 + 1 23 284 Other deposits with F. R. Banks 321 - 28 + 1 342 Other F. R. accounts (net) 1,294 + 48 + 82 1,258 34,782 -155 + 59k 34,699 Member bank reserves-- 18,586 + 77 -h 60 18,041 Required reserves (estimated) 18,124 + 53 171 18,134 Excess reserves (estimated) 462 + 24 - 111 - 93 On August 26, 1959/ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,246 million, an increase of <p3o million for the week and an jnorease of $857 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since August 26, August 19, August 27, 1959 1959 1958 A SS E T S Gold certificate account 18,371,140 2* - 1,259,751 Redemption fund for F. R. notes 990,661 : 133 + 62,259 Total gold certificate reserves 19,301,301 135* - 1,197,492 F. R. notes of other Banks 419,775 + 36,364 + 65,805 Other cash 389,437 + 3,056 + 15,260 Discounts and advances 556,727 + 32,635 + 367,360 Industrial loans 341 Acceptances- -bought outright 20,553 10,527 U. S. Government securities: Bought outright-- Bills 2,517,800 + 25,600 + 1,301,840 Certificates 10,506,993 -- -11,000,298 Notes 11,010,298 — •» +11,000,298 Bonds 2,483,771 —— Total bought outright 26,518,862 + 25,600 + 1,301,840 Held under repurchase agreement • mm - 42,900 — «• Total U. S. Government securities 26,518,862 17,300 + 1,301,840 • Total loans and securities 27,096,142 + 15,334 + 1,658,332 Due from foreign banks 15 -- Uncollected cash items 4,953,236 - 778,897* + 457,836 Bank premises 96,762 - 180 + 6,843 Other assets 140,527 + 17,624 + 22,428 TOTAL ASSETS 52,397,695 - 706,834 + 1,029,012 L I A B I L I T I ES Federal~Reserve~notes~ " 27,510,494 - 66,412 + 642,925 Deposits: Member bank reserves 18,041,265 76,187 • 198,548 U. S. Treasurer—general account 533,534 + 16,596 + 58,379 Foreign 283,663 + 24,872 + 27,809 Other 342,114 - 2,441 + 22,613 Total deposits 19,200,576 - 37,160 - 89,747 Deferred availability cash items 4,191,800 - 572,618 + 372,822 Other liabilities and accrued dividends 38,722 + 1,142 + 21,792 TOTAL LIABILITIES 50,941,592 - 675,048 + 947,792 C A P I T AL A C C O U N TS Capita-paid In" 382,484 + 677 + 26,727 Surplus 868,4l0 1/+ 31,669 Other capital accounts 205,209 - 32,463 + 22,824 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,397,695 - 706,834 + 1,029,012 Ratio of gold certificate reserves to deposit % and F. R. note liabilities combined 41.3# + .1# - 3.1 Contingent liability on acceptances purchased for foreign correspondents 73,133 1,282 • 20,080 Industrial loan commitments 350 ~ 686 1/ Net change after elimination of Sec. 13b su 543,000 on Sept. 2, 1958. * August 19 figures revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 26, 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 465^42 5/825 310,660 16 days to 90 days 90r5?4 'i.ni 14,729 6,396,450 91 days to 1 year 191 11,817,683 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 556,727 20,553 26,518,062 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDIT]C ON OF EACH FEDERAL RESERVE BANK ON AUGUST 26, 1959 Phila- Cleve- 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 18,371,140 861,598 4,704,512 1027,852 1633,772 1063,944 889,281 3321,460 669,991 369,491 711,595 671,616 2446,028 Redemption fund for F. R. notes 930,661 55,770 192,028 60,259 84,932 78,044 57,491 176,075 42,767 23,328 43,986 29,671 86.310 Total gold certificate reserves 19,301,801 917,368 4,896,540 1088,111 1718,704 1141,988 946,772 3497,535 712,758 392,819 755,581 701,287 2532,338 F.R. notes of other Banks 419,775 44,354 74,919 36,872 16,048 33,517 66,513 30,306 12,369 26,923 22,560 14,557 40,837 Other cash 389,437 26,132 69,951 21,718 34,684 25,359 38,565 59,219 25,734 8,236 13,623 12,292 53,924 Discounts and advances 556,727 9,500 88,570 11,250 63,745 31,509 89,640 109,528 24,225 28,890 54,960 24,960 19,950 Acceptances— Bought outright 20,553 20,553 U. S. Govt, securities: Bought outright— Bills 2,517,800 136,502 633,610 143,581 217,986 161,360 132,698 435,711 102,399 57,347 108,529 100,496 287,581 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 2,483,771 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 — 5v6y,j5 7/3;^ 107,063 >437 263,694 Total 26,518,862 1437,720 6,673,525 1512,265 2295,950 1699,541 1397,650 4589,142 1078,522 604,020 1143,095 1058,474 3028,958 Held under repurchase agreement Total U. S. Govt, sees. 26,518,862 1437,720 6,673,525 1512,265 2295,950 1699,541 1397,650 4589,142 1078,522 604,020 1143,095 1058,474 3028,958 Total loans & securities 27,096,142 1447,220 6,782,648 1523,515 2359,695 1731,050 1487,290 4698,670 1102,747 632,910 1198,055 1083,434 3048,908 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 4,953,236 345,953 892,631 315,802 418,926 401,875 395,139 756,660 208,399 145,060 249,305 273,394 550,092 Bank premises 96,762 4,463 10,117 4,104 9,355 6,844 9,602 13,467 6,943 5,115 4,692 9,581 12,479 Other assets 140,527 7,370 34,259 7,619 12,273 8,886 8,353 23,398 5,759 3,156 6,937 5,8l8 16,699 TOTAL ASSETS 52,397,695 2792,861 12,761,069 2997,742 4569,686 3349,520 2952,235 9079,257 2074,710 1214,219 2250,754 2100,364 6255,278 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 BAM OH AUGUST 26 1939 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 27,510,494 1586,047 6,400,296 1734,723 2536,588 2067,128 1508,044 5250,762 1200,838 609,528 1103,314 791,556 2721,670 Deposits: Member bank reserves 18,041,265 748,255 4,825,172 843,513 1458,599 811,185 958,965 2859,296 621,4l4 408,598 819,969 939,484 2746,815 U.S.Treas.-gen.acct. 533,534 37,088 55,955 35,904 48,628 35,073 51,464 64,242 23,317 26,270 49,906 41,624 64,063 Foreign 283,663 14,850 1/ 89,263 17,820 24,300 13,500 12,690 39,960 9,990 6,480 10,530 14,040 30,240 Other 342,114 1,253 "" 280,569 2,019 2,649 2,229 2,488 569 360 246 1,273 791 47,668 Total deposits 19,200,576 801,446 5,250,959 899,256 1534,176 861,987 1025,607 2964,067 655,081 441,594 881,678 995,939 2888,785" Deferred availability 321,289 703,313 265,939 364,380 342,438 346,186 642,340 l6l,044 126,195 205,646 236,622 476,408 cash items 4,191,800 Other liabilities and accrued dividends 38,722 2,270 9,845 1,914 3,655 2,258 1,976 6,085 1,407 1,207 1,684 1,781 4,640 TOTAL LIABILITIES 50,941,592 2711^052 12,364^413 2901^832 4438,799 3273,811 2881,813 8863,254 2018,370 1178,524 2192,322 2025,898 6091,504 CAPITAL ACCOUNTS Capital paid in 382,484 18,975 109,756 22,753 36,003 17,132 19,663 52,188 12,733 8,685 15,599 21,926 47,071 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 205,209 12,718 47,998 122Z L 1 3,550 18,241 13,731 11,285 31,656 9,861 6,225 9,898 9,104 20,942 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,397,695 2792,861 12,761,069 2997.742 4569,686 3349,520 2952,235 9079,257 2074,710 1214,219 2250,754 2100,364 6255,278, Conting. liab. on acceptances purchased for foreign correspondents 73,133 4,020 2/ 20,501 4,825 6,579 3,655 3,436 10,819 2,705 1,754 2,851 3,801 8,187 Industrial loan commit. 350 10 340 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,494,382 1645,820 6,627,393 1788,727 2595,295 2147,977 1575,612 5360,119 1250,810 626,285 1136,257 840,199 2899,WW CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,750,000 24,225 — 54,960 EElliiggiibbllee ppaappeerr 79,185 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 18,910,000 1150.000 4,000,000 1200,000 1750.000 1500,000 1200,000 3500,000 935.000 450,000 850,000 575,000 1800,000 1730'000 6,920,000 1840,000 2670,000 2170,000 1700,000 5500,000 1389,225 650,000 1204,960 865,000 3100,000 TToottaall ccoollllaatteerraall 29,739,185 1/ After deducting $194,4(D O,000 partiL cipations of other Federal Reserve Banks. Digi2tiz/e d Afofr FtReArS EdRe ducting $52,6; 32,000 partiL cipations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis