H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM September 17, 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 ban kreserves for the week ended September l6 increased $13 million to $18,653 million. Estimated required reserves increased $91 million; and estimated excess reserves decreased $78 million to $496 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $563 million, compared with $483 million the week before. The principal change supplying average reserves was an increase of $198 million in Federal Reserve float. The principal offsetting changes were increases of $90 million in money in circulation, $56 million in foreign deposits with Federal Reserve Banks and $32 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $178 million. As of Wednesday, September 16, U. S. Government securities held under repurchase agreement were $124 million higher than a week earlier and member bank borrowings were $34 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Sept. 16, Sept. 9, Sept. 17, Sept. 16, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,643 20 +1,642 26,643 Held under repurchase agreement 94 + 3 + 94 155 Acceptances-- Bought outright 20 - 2 _ 11 20 Held under repurchase agreement * 2 * - Loans, discounts, and advances-- Member bank borrowings 1,059 + 2 + 496 428 Other 1 + 1 l — — Float 1,017 + 198 - 32 1,294 Total Reserve Bank credit 28,834 + 178 +2,190 28,541 Gold stock 19,522 - 1 -1,417 19,522 Treasury currency outstanding 5,274 - - + 59 5,274 53,630 + 177 + 832 53,338 Money in circulation 32,197 + 90 + 8o4 32,074 Treasury cash holdings 395 - 6 - 299 394 Treasury deposits with F. R. Banks 421 - 9 + 117 346 Foreign deposits with F. R. Banks 331 + 56 66 316 - Other deposits with F. R. Banks 373 + 32 + 91 383 Other F. R. accounts (net) 1,260 + 1 + 104 1,265 34,977 + 164 + 751 34,778 Member bank reserves-- 18,653 + 13 + 81 18,560 Required reserves (estimated) 18,157 + 91 + 222 18,295 Excess reserves (estimated) 496 78 l4l 265 - - * Less than $500,000. On September 16, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,308 million, an increase of $4 million for the week and an increase of $882 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 Sept. 16, Sept. 9, Sept. 17, 1959 1959 1958 A S S E TS Gold certificate account 18,280,142 26,001 1,151,751 Redemption fund for F. R. notes 952,182 + 25,861 + 78,648 Total gold certificate reserves 19,232,324 - 140 - 1,073,103 t • R• note sof other Banks 426,635 + 69,756 + 64,700 Other cash 362,450 4" 17,833 - 6,622 Discounts and advances 429,112 - 34,349 + 221,952 Industrial loans -- -- - 340 Acceptances: Bought outright 20,034 + 498 8,867 Held under repurchase agreement 138 - - U. S. Government securities: Bought outright-- Bills 2,641,700 __ + 1,727,890 Certificates 10,506,993 m — -11, 000,298 Notes 11,010,298 — — +11, 000, 298 Bonds 2,483,771 - «• •» •* Total bought outright 26,642,762 - - + 1,727,890 Held under repurchase agreement 155,400 + 123,650 + 155,400 Total U. S. Government securities 26,798,162 + 123,650 + 1,883,290 Total loans and securities 27,247,308 + 89,661 + 2,096,035 Due from foreign banks 15 — — <M Uncollected cash items 7,010,756 +2,419,855 + 622, 118 Bank premises 97,783 + 1,217 + 7,608 Other assets 184,977 + 7,218 + 43,254 TOTAL ASSETS 54,562,248 +2,605,400 + 1,753,990 L I A B I L I T I ES Federal Reserve notes " ~ 27,692,846 77,419 + 742,248 Deposits: - Member bank reserves 18,559,539 + 772,590 + 112,286 U. S. Treasurer--general account 346,123 - 23,577 + 154,078 Foreign 316,407 + 8,096 40,038 Other 382,508 + 8,930 + 112,680 Total deposits 19,604,577 + 766,039 + 339,006 Deferred availability cash items 5,716,885 +1,899,167 + 519,080 Other liabilities and accrued dividends 40,242 + 257 + 22,666 TOTAL LIABILITIES 53,054,550 +2, 588/044 + 1,623,000 C A P I T AL A C C O U N TS CapItaTpaid in™ 383,034 + 376 + 26,114 Surplus 868,4l0 - — + 59,215 Other capital accounts 256,254 + 16,980 + 45,661 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,562,248 +2,605,400 + 1,753,990 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 40.7% - .6$ - 3-2f» Contingent liability on acceptances purchased for foreign correspondents 68,768 2,324 9,781 Industrial loan commitments 5 - 345 - 1,026 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 16, 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 422,036 7,069 525,400 16 days to 90 days 6,928 12,965 6,485,110 91 days to 1 year 148 11,793,583 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 4l0,385 Over 10 years 1,059,772 Total 429,112 20,034 26,796,162 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDIT][O N OF EACH FEDERA LRESERVE1 "BANK 0T SEPTEMBER 116, 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 18,280, 1429 15,384 4, 267, 417 1114,821 1699,021 1077,841 913,571 3248,100 734,242 378,062 781,023 706,354 2444,306 Gold certificate account Redemption fund for 952,182 58,515 201,080 59,868 85,527 87,062 57,129 175,623 43,633 23,200 43,882 30,594 86,069 F. R. notes Total gold certificate 19,232,324 973,899 4,468,497 1174,689 1784,548 1164,903 970,700 3423,723 777,875 401,262 824,905 736,948 2530,375 reserves F.R. notes of other Banks 426,635 44,079 82,583 30,003 16,487 38,541 56,682 28,844 11,354 28,540 23,979 16,578 48,965 Other cash 362,450 26,275 62,716 21,632 34,420 24,740 32,423 57,588 19,104 7,534 11,503 14,235 50,280 429,112 36,789 117,796 17,541 10,663 4,585 67,323 97,159 4,876 17,632 21,224 20,846 12,678 Discounts and advances Acceptances-- 20,034 20,034 Bought outright U. S. Govt, securities: Bought outright— Bills 2,641,700 143,220 664,790 150,646 228,713 169,300 139,228 457,152 107,438 60,169 113,870 105,441 301,733 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 1444^438 6,704*70$ 1519^330 2306,67 71707,401 1404,100 46io,5«3 1003,561 6oo,o4z n4e,43b 1063,4i y3043,110 Total 26,642,762 Held under repurchase agreement 155,400 155,400 Total U. S. Govt, sees. 26,798,1621 444,438 6.860,105 1519.110 2106.677 1707.481 l404.l80 4610.58% 1083.561 606.842 1148.436 1061.419 3043,110 Total loans & securities 27,247,3081 481,227 6,997,935 1536,871 2317,34 01712,066 1471,503 4707,74 21088,437 624,474 1169,660 1084,26 53055,788 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Uncollected cash items 7,010,756 491,032 1,353,713 399,777 624,818 550,066 "581,523 1154,641 300,929 192,451 321,509 323,285 717,012 Bank premises 97,783 4,428 10,078 4,104 9,323 6,832 9,602 13,903 7,190 5,115 4,678 10,051 12,479 Other assets 184,977 9.96% 45,607 10.118 16.047 11.758 10.894 11.127 7.4o8 4,218 8.880 7.712 21,045 TOTAL ASSETS 54,562,248 3030,904 13,021,133 3177,395 4802,984 3508,907 3133,328 9417,570 2212,29 81263,594 2365,115 2193,075 6435,945 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

2.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 16, 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 27,692,846 1589,715 6,425,247 1733,762 2541,14 42103,799 1516,914 5278,582 1208,2 06410,105 1107,424 804,072 2773,878 Deposits: Member bank reserves 18,559,539 912,141 4,761,993 967,808 1520,44 3826,651 993,166 2875,171 658,72742 0,557 887,726 983,307 2751,847 U .S .Treas. - gen .acct. 346,123 18,790 56,964 10,706 32,400 20,355 22,669 30,945 39,847 19,223 31,120 25,724 37,380 Foreign 316,407 17,435 1/88,167 20,922 28,530 15,850 14,899 46,916 11,729 7,608 12,363 16,484 35,504 Other 382,508 568 "320,631 1,724 1,250 4,373 l,4oo 829 2,142 259 1,454 1,019 46,859 Total deposits 19,604,577 948,934 5,227,755 1001,160 1582,623 867,229 1032,13 42953,861 712,445 447,647 932,665 1026,53 42871,590 Deferred availability cash items 5,716,885 405,429 945,530 341,782 540,426 456,898 509,108 953,981 232,058 167,856 262,863 284,239 616,715 Other liabilities and accrued dividends 40,242 2,347 12,027 1,902 3,460 2,099 1,991 6,104 1,374 1,267 1,512 1,740 4,419 TOTAL LIABILITIES 53,054,550 2946,425 12,610,559 3078,606 4667,653 3430,02 53060,147 9192,528 2154,08 11226,875 2304,464 2116,585 6266,602 CAPITAL ACCOUNTS Capital paid in 383,034 18,928 110,153 22,773 36,046 17,151 19,707 52,183 12,744 8,701 15,615 21,960 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 256,254 15,435 61,519 16,409 22,642 16,885 14,000 40,700 11,727 7,233 12,101 11,094 26,509 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,562,2483 030,904 13,021,133 3177,395 4802,984 3508,907 3133,328 9417,570 2212,29 81263,594 2365,11 52193,075 6435,945 Conting. liab. on acceptances purchased for foreign correspondents 68,768 3,784 2/19,232 4,541 6,192 3,440 3,233 10,182 2,546 1,651 2,683 3,578 7,706 Industrial loan commit. 5 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,693,019 1654,9096 ,696,151 1787,911 2598,391 2168,5 815592,847 5386,297 1259,74 1625,793 1140,858560 ,831 2930,707 Collat. for F. R. notes: Gold certificate acct. 10,700,000 553300,,000000 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 43,542 -- —— 17,495 —- -- - - -- 4,850 21,197 U. S. Govt, securities 19,010,000 11220000,,000000 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 29,753,542 1730,000 6,920,000 1857,495 2670,000 2220,000 1700,000 5500,000 1369,850 650,000 1171,197 865,000 3100,000 l/ After deducting $228,240,000 participations of other Federal Reserve Banks, 2/ After deducting $49,536,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis