H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF G!£#ERNORS For Immediate Release H.4.1 OF THE FEDERAL f&SERVE SYSTEM September 10, 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 September 9 increased $74 million to $18,640 million. Estimated required reserves decreased $94 million; and estimated excess reserves increased $168 million to $600 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $457 million, compared with $533 million the week before. The principal changes supplying average reserves were increases of $92 million in member bank borrowings and $63 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $131 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was an increase of $175 million in money in circulation. Total Reserve Bank credit increased $l4l million. As of Wednesday, September 9, holdings of U. S. Government securities bought outright were $8 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $7 million lower, and member bank borrowings were $154 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 9, Sent. 2, Sept . 10; Sept. 9, and related items 1959 1959 1958 1959 (] [n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,663 + 13 +1,430 26,643 Held under repurchase agreement 91 + 50 + 91 32 Acceptances-- Bought outright 22 + 1 - 9 20 Held under repurchase agreement 2 + 1 + 2 * Loans, discounts, and advances-- Member bank borrowings 1,057 + 92 + 543 463 Other 1 + 1 1 1 Float 819 - 17 - 64 773 Total Reserve Bank credit 28,656 +i4i +1,995 27,931 Gold stock 19,523 - 2 -1,409 19,522 Treasury currency outstanding 5,274 - - + 61 5,274 53,453 +139 + 567 52,727 Money in circulation 32,107 +175 + 674 32,238 Treasury cash holdings 4oi - 1 - 293 395 Treasury deposits with F. R. Banks 430 -131 - 48 370 Foreign deposits with F. R. Banks 275 + 15 ~ 55 308 Other deposits with F. R. Banks 341 + 8 + 22 374 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,259 - 1 + 106 1,256 34,813 + 65 + 4o6 34,940 Member bank reserves-- 18,64o + 74 + 161 17,787 Required reserves (estimated) 18,040 - 94 + 167 18,017 Excess reserves (estimated) 600 +168 - 6 -230 * Less than $500,000. On September 9> 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,304 million, an increase of less than $1 million for the week and an increase of $886 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 9, Sept. 2, Sept. 10, 1959 1959 1958 AA SS SS EE TTSS Gold certificate~account 18,306,143 + 10,002 1,239,750 • Redemption fund for F. R. notes 926,321 + 48,009 — — Total gold certificate reserves 19,232,464 + 10,002 - 1,191,741 F. R. notes of other Banks 356,879 - 55,145 + 21,4ll Other cash 344,617 . 36,130 - 19,316 Discounts and advances 463,461 153,797 - 639 Industrial loans «« — * — - 334411 Acceptances: Bought outright 19,536 - 1,017 - 10,548 Held under repurchase agreement 138 - 245 + 138 U. S. Government securities: Bought outright-- Bills 22,,664411,,770000 - 7,700 + 1,562,140 Certificates 10,506,993 -11,000,298 — — Notes 11,010,298 +11,000,298 — » Bonds 2,483,771 — » — — Total bought outright 26,642,762 7,700 + 1,562,140 - Held under repurchase agreement 31,750 - 6,500 + 31,750 Total U. S. Government securities 26,674,512 - 14,200 + 1,593,890 . Total loans and securities 27,157,647 169,259 + 1,582,500 Due from foreign banks 15 -- mm mm Uncollected cash items 4,590,901 - 393,941 - 147,843 Bank premises 96,566 + 2 + 6,537 Other assets 177,759 + 18,688 + 34,313 TOTAL ASSETS 51,956,848 625,783 + 285,861 • L I A B I L I T I ES Federal Reserve"~notes ~ 2277,,777700,,226655 + 118866,,007799 + 776644,,662233 Deposits: . Member bank reserves 17,786,949 320,183 384,472 • U. S. Treasurer—general account 369,700 170,912 - 141,867 Foreign 308,311 + 34,873 - 74,121 Other 373,578 + 28,339 + 54,976 Total deposits 10,638,538 - 427,883 - 545,484 Deferred availability cash items 3,817,718 • 401,939 78,764 Other liabilities and accrued dividends 39,985 + 684 + 21,741 TOTAL LIABILITIES 50,466,506 643,059 + 162,116 - C A P I T AL A C C O U N TS CapitaTpIid in™ 382,658 + 183 + 26,406 Surplus 868,4l0 + 59,215 Other capital accounts 239,274 + 17,093 + 38,124 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,956,848 625,783 + 285,861 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4411..33## + ..33ii>> 22..77%% Contingent liability on acceptances purchased for foreign correspondents 71,092 - 1 1 ITS & 11,689 Industrial loan commitments 350 1 1 ITS & 666 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 9, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing vithin 15 days in accordance with maximum maturity of the agreements.) Discounts and U. S. Government advances Acceptances securities Within 15 days 456,156 7 %9 298,750 16 days to 90 days 7,156 12,025 6,572,610 91 days to 1 year 149 11,809,083 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 463,461 19,674 26,674,512 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 9, 1959 Phila- Cleve- St. Minne- Kansas San TToottaall BBoossttoonn || NNeeww YYoorrkk delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,306,143 824,379 4,683,947 1032,009 1641,224 1072,478 907,014 3226,208 714,623 356,856 716,635 633,101 2497,669 Redemption fund for F. R. notes 926,321 5555,,551188 191,099 5599,,887744 8844,,553344 77,079 57,153 175,641 42,642 23,201 43,892 29,598 86,090 Total gold certificate reserves 19,232,464 879,897 4,875,046 1091,883 1725,758 1149,557 964,167 3401,849 757,265 380,057 760,527 662,699 2583,759 F.R. notes of other Banks 356,879 35,728 66,761 27,363 13,950 30,181 62,608 23,100 8,678 28,389 19,359 14,654 26,108 Other cash 344,617 24,616 61,122 21,442 32,522 21,790 32,910 56,298 20,221 7,340 11,310 11,886 43,160 Discounts and advances 463,461 47,339 63,266 8,186 36,938 6,285 78,323 104,463 18,356 17,782 42,799 20,946 18,778 Acceptances: Bought outright 1199,,553366 -- 1199,,553366 — — - - — — - - —— — — — — mm m. Held under rep. agree. 138 138 " - - -- -- -- — - - - »«•* — — — — U. S. Govt, securities: Bought outright— Bills 22,,664411,,770000 114433,,222200 666644,,779900 115500,,664466 228,713 169,300 139,228 457,152 107,438 60,169 113,870 105,44l 301,733 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 26,642,762 1444,430 67704,705 1519,330 2306,677 1707,401 1404,100 4610,503 1003,561 606,042 1140,436 1063,419 3043,110 Held under rep. agree. 31,750 -- 31,750 - - — — -- - - -- -- -- -- Total U. S. Govt, sees. 26,674,512 1444,438 6,736,455 1519,330 2306,677 1707,481 l4o4,180 4610,583 1083,561 606,842 1148,436 1063,419 3043,110 Total loans & securities 27,157,64-7 1491,777 6,819,395 1527,516 2343,6l§ 1713,766 1482,503 4715,046 1101,917 13*91,235 #84,365 3061,888 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 Uncollected cash items 4,590,901 329,300 877,740 291,585 376,187 399,353 377,235 691,424 203,508 128,941 220,998 212,508 482,122 Bank premises 96,566 4,428 10,078 4,104 9,332 6,832 9,602 13,454 6,905 5,H5 4,678 9,559 12,479 Other assets 177,759 10,655 43,300 9,778 15,596 11,244 10,391 29,713 7,327 4,008 8,473 7,091 20,183 TOTAL ASSETS 51,956,848 2776,402 12,753,446 2973,672 4516,961 3332,724 2939,417 8930,886 2105,822 1178,474 2216,581 2002,763 6229,700 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 t

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 9, 1959 H. 4. 1(c) Phila- Cleve- St. Minne- Kansas San Total Boston I 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 1596,773 6,447,794 1741,551 2541,428 2098,381 1524,716 5280,593 1209,681 610,989 1113,109 802,633 2802,617 Federal Reserve notes 27,770,265 Deposits: Member hank reserves 17,786,949 748,472 4,758,237 827,867 1461,876 779,865 983,999 2780,360 638,119 390,654 816,656 901,944 2698,900 54,403 36,065 30,611 27,268 11,615 50,961 15,289 21,120 27,828 20,383 53,185 U.S.Treas. -gen .acct. 369,700 20,972 Foreign 308,311 16,885 1/91,527 20,262 27,630 15,350 14,429 45,436 11,359 7,368 11,973 15,964 30,128 Other 373,578 1,685 "306,988 2,121 1,956 4,792 2,171 3,016 1,849 1,657 2,351 2,193 42,799 Total deposits 18,838,538 7887014 5,211,155 886,315 1522,073 827,275 1012,214 2879,773 666,616 420,799 858,808 940,484 2825,012 Deferred availability 678,040 245,933 315,690 326,989 328,282 541,986 170,460 109,145 183,154 182,230 430,104 cash items 3,817,718 305,705 Other liabilities and 10,683 2,061 3,941 2,244 1,944 6,516 1,463 1,172 1,570 1,603 4,493 accrued dividends 39,985 2,295 . . . 2692/787 12,347,672 2875,860 4383,132 3254,889 2867,156 8708,868 2048,220 1142,105 2156,641 1926,950 6062,226 TOTAL LIABILITIES 50,466,506 CAPITAL ACCOUNTS Capital paid in 382,658 18,975 109,852 47,073 Surplus 868,410 50,116 238,902 59^07 76#, 643 K',8?6 39*474 132 A59 33^7*2 20^785 3^935 95,76I Other capital accounts 239,274 14,524 57,020 15,435 21,177 15,851 13,115 37,674 11,113 6,883 11,406 10,436 24,640 TOTAL LIABILITIES AND 2776,402 12,753,446 2973,672 4516,961 3332,724 2939,417 8930,886 2105,822 1178,474 2216,581 2002,763 6229,700 . CAPITAL ACCOUNTS 51,956,848 Conting. liab. on acceptances purchased for foreign correspondents 71,092 3,910 2/19,844 4,693 6,399 3,555 3,342 10,523 2,631 1,706 2,773 3,697 8,019 340 Industrial loan commit. 350 10 FEDERAL RESERVE AGENTS' ACCOUNTS 1649,657 6,666,481 1788,924 2598,538 2153,269 1592,164 5376,606 1254,616 626,966 1142,313 842,836 2914,370 F. R. notes outstanding 28,606,740 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 69,242 8,140 -- — — -- 18,330 -- 42,772 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 29,779,242 1730,000 6,920,000 1848,140 2670,000 2220,000 1700,000 5500,000 1383,330 650,000 1192,772 865,000 3100,000 1/ After deducting $216,784,000 participations of other Federal Reserve Banks. 2/ After deducting $51,248,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis