H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 3, 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 dally figures of member ban kreserves for the week ended September 2 decreased $20 million to.$18,566 million. Estimated required reserves increased $15 million; and estimated excess reserves decreased $35 million to $432 million. Member hank borrowings at the Federal Reserve Banks exceeded excess reserves by $533 million, compared with $47 3million the week before. The principal changes reducing average reserves were decreases of $ll4 million in Federal Reserve float and $75 million in gold stock .The principal offsetting changes were an increase of $118 millio nin Federal Reserve holdings of U. S. Government securities and a decrease of $34 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $30 million. As of Wednesday, September 2, holdings of U. S. Government securities bought outright were $132 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $38 million higher, and member bank borrowings were $65 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 2, Aug. 26, Sept. 3, Sept. 2, and related items 1959 1959 1958 1959 (3[ n millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 26,650 +132 +1,297 2266,,665500 Held under repurchase agreement 4l - 14 + 41 38 Acceptances-- Bought outright 21 - 11 21 Held under repurchase agreement 1 + 1 4- 1 * Loans, discounts, and advances-- Member bank borrowings 965 + 25 + 50k 661177 Other * - 1 «•» * 1 Float 836 -114 4- 44 765 Total Reserve Bank credit 28, 515 + 30 +1,877 28,092 Gold stock 19,525 - 75 -1,486 19,525 Treasury currency outstanding 5,274 - 9 4* 63 5,273 53,314 - 55 4- 453 52,890 Money in circulation 31,932 - 19 + 551 31,962 Treasury cash holdings 402 + 7 289 404 - Treasury deposits with F. R. Banks 561 - 3 4- 22 541 Foreign deposits with F. R. Banks 260 + 3 - 45 273 Other deposits with F. R. Banks 333 + 12 4- 9 345 OOtthheerr FF.. RR.. aaccccoouunntt ss((nneett)) 1,260 - 34 4- 85 1,257 34,748 - 34 + 333 34,783 Member bank reserves-- 18,566 - 20 4- 120 18,107 Required reserves (estimated) 18,134 + 15 4- 235 18,173 Excess reserves (estimated) 432 - 35 - 115 -66 * Less than $500,000. On September 2, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,304 million, an increase of $58 million for the week and an increase of $935 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 TWELV EFEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Sept. 2, Aug 2 5— Sept. 3, 1959 1959 A S S E TS Gold certificate-account 18,296,141 74,999 1,254,753 Redemption fund for F. R. notes 926,321 4,340 + 53,008 - Total gold certificate reserves 19,222,462 ~ 79,339 - 1,201,745 F. R. note sof other Banks 412,024 - 7,751 + 99,763 Other cash 380,747 8,690 + 21, 261 - Discounts and advances 617,258 + 60,531 + 432,670 Industrial loans - - - 341 Acceptances: Bought outright 20,553 mm mm 10,531 Held under repurchase agreement 383 + 383 + 383 U. S. Government securities: Bought outright— Bills 2,649,400 + 131,600 + 1,264,340 Certificates 10,506,993 -11,000,298 - - Notes 11,010,298 — — +11,000,298 Bonds 2,483,771 - - mm mm Total bought outright 26,650,462 + 131,600 + 1,264, 340 Held under repurchase agreement 38,250 + 38,250 + 38,250 Total U. S. Government securities 26,668,712 + 169,850 + 1, 302, 590 Total loans and securities 27, 326,906 + 230,764 + 1,724,771 Due from foreign "banks 15 - «• w m Uncollected cash items 4,984,842 + 31,606 + 440,615 Bank premises 96,564 - 198 + 6,615 Other assets 159,071 + 18,544 + 27,963 TOTAL ASSETS 52,582,631 + 184,936 + 1,119,243 L I A B I L I T I ES Federal Re serve-note s 27,584,186 + 73,692 + 577,539 Deposits: Member bank reserves 18,107,132 + 65,867 81,296 U. S. Treasurer—general account 540,612 + 7,078 + 22,476 Foreign 273,438 - 10,225 - 40,486 Other 345,239 + 3,125 + 14,624 Total deposits 19,266,421 + 65,8^5 84,682 - Deferred availability cash items 4,219,657 + 27,857 + 488,313 Other liabilities and accrued dividends 39,301 + 579 + 22,138 TOTAL LIABILITIES 51,109,565 + 167,973 + 1,003,308 C A P I T AL A C C O U N TS Capital paid in 382,475 9 + 26,451 Surplus 868,410 - - + 59,215 Other capital accounts 222,181 + 16,972 + 30,269 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,582,631 + 184,936 + 1,119,243 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 41.0$ - •3$ - 3.1# Contingent liability on acceptances purchased for foreign correspondents 71,622 1,511 15,678 Industrial loan commitments 350 — m - 686 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 2, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and U. S. Government advances Acceptances securities Within 15 days 606,988 7,390 252,110 16 days to 90 day s10,113 13,546 6,617,450 91 days to 1 yea r157 — 11,825,083 Over 1 year to 5 years -- __ 6,523,912 Over 5 years to 10 year s— -- 410,385 Over 10 years — -- 1,059,772 Digitized for TFoRAtSaElR 617,258 20,936 26,688,712 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,l{b) STATEMENT OF CONDIT][O N OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 2, 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 18,296, l4l 844,590 4,665,983 1058,399 1593,239 1074,325 864,217 3262,465 667,145 383,631 718,460 649,791 2513,896 Redemption fund for F. R. notes 926,321 55,518 191,099 59,874 84,534 77,079 57,153 175,641 42,642 23,201 43,892 29,598 86,090 Total gold certificate reserves 19,222,462 900,108 4,857,082 1118,273 1677,773 1151,4o4 921,370 3438,106 709,787 406,832 762,352 679,389 2599,986 F.R. notes of other Banks 412,024 41,670 73,826 35,054 16,580 33,473 68,196 31,580 10,538 29,211 21,179 15,980 34,737 Other cash 380,747 26,532 69,031 23,021 35,779 24,001 36,169 59,031 23,265 7,725 13,038 13,649 49,506 Discounts and advances 617,258 27,289 84,211 32, 336 73,163 12,952 84,248 157,674 41,356 13,417 49,963 27,421 13,228 Acceptances: Bought outright 20,553 20,553 - - -- -- -- -- Held under rep. agree. 383 383 - - -- " U. S. Govt, securities: Bought outright— Bills 2,649,400 143,637 666,727 151,085 229,380 169,794 139,634 458,485 107,751 60,345 114,202 105,748 302,612 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 56,573 107,063 99,137 283,694 Total 26,650,462 1444,855 6,706,642 1519,769 2307,344 1707,975 1404,586 4611,916 1083,874 607,018 1148,768 1063,726 3043,989 Held under rep. agree. 38,250 38,250 — — — — — — — — — — —— Total U. S. Govt, sees. 26,688,712 1444,855 6,744,892 1519,769 2307,344 1707,975 1404,586 4611,916 1083,874 607,018 1148,768 1063,726 3043,989 Total loans & securities 27,326,906 1472,144 6,850,039 1552,105 2380,507 1720,927 1488,834 4769,590 1125,23 0620,435 1198,731 1091,147 3057,217 M Due from foreign banks 15 1 1/4 1 l l 1 2 1 2/ 1 11 Uncollected cash items 4,984,842 350,560 931,377 308,981 430,837 4io,896 386,185 785,193 200,000 146,453 231,055 254,831 548,474 Bank premises 96,564 4,428 10,078 4,104 9,331 6,832 9,602 13,453 6,905 5,115 4,678 9,559 12,479 Other assets 159,071 8,542 38,562 8,675 14,044 10,040 9,396 26,642 6,627 3,585 7,662 6,419 18,877 TOTAL ASSETS 52,582,631 2803,985 12,829,999 3050,214 4564,852 3357,574 2919,753 9123,597 2082,35 31219,356 2238,696 2070,975 6321,277 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 SEPTEMBER 2, 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) L I A B I L I T I ES Federal Reserve notes 28,584,186 1586,593 6,414,155 1735,429 2532,669 2084,590 1513,765 5254,656 1203,950 608,477 1107,634 795,861 2746,407 Deposits: Member bank reserves 18,107,132 754,136 4,840,669 895,262 1463,227 791,6l4 936,690 2863,762 615,996 415,956 828,032 929,957 2771,831 U.S .Treas. -gen .acct. 540,612 35,322 80,815 38,528 37,192 39,579 47,022 59,457 35,566 27,389 46,634 35,953 57,155 Foreign 273,438 14,795 1/79,758 17,754 24,210 13,450 12,643 39,812 9,953 6,456 10,491 13,988 30,128 Other 345,239 1,121 275,048 1,468 1,142 4,525 1,469 805 362 361 1,432 l,26l 56,245 Total deposits 19,266,421 "805,374 5,276,290 953,012 1525,771 849,160 997,824 29b3,03b bbl,077 450,162 006,509 901,159 2915,359 Deferred availability cash items 4,219,657 327,033 728,159 262,933 370,118 344,873 334,706 679,745 158,118 123,203 183,774 217,295 489,700 Other liabilities and accrued dividends 39,301 2,303 10,l6l 2,001 3,872 2,179 2,106 6,369 1,465 1,542 1,574 1,526 4,203 TOTAL LIABILITIES 51,109,565 2721,303 12,428,765 2953,375 4432,430 3280,810 2848,401 8904,606 2025,410 1183,384 2179,571 1995,841 6155,669 CAPITAL ACCOUNTS Capital paid in 382,475 18,975 109,746 22,754 36,003 17,137 19,663 52,185 12,733 8,681 15,599 21,926 47,073 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 222,181 13,591 52,586 14,478 19,776 14,781 12,215 34,647 10,464 6,506 10,591 9,772 22,774 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2803,985 12,829.999 3050,214 4564.852 3357,574 2919,753 9123,597 2082,353 1219,356 2238,696 2070,975 6321,277, Conting. liab. on acceptances purchased for foreign correspondents 71,622 3,938 2/20,070 4,726 6,444 3,580 3,365 10,597 2,649 1,719 2,792 3,723 8,019 Industrial loan commit. 350 10 340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,518,104 1652,442 6,646,562 1786,598 2593,607 2151,566 1575,015 5361,722 1251,967 625,501 1139,140 036,064 2097,120 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 123,555 32,290 — — — -- 41,330 — 49,935 U. S. Govt, securities 18,960,000 1150,000 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 575,000 1800,000 Total collateral 297833,555 1730,000 6,920,000 1872,290 2670,000 2220,000 1700,000 5500,000 1406,330 650,000 1199,935 865,000 3100,00 1/ After deducting $193,680,000 participations of other Federal Reserve Banks. Di2git/iz edA ffotr FeRrA SdEeRd ucting $51,552,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis