H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.Uil OF THE FEDERAL RESERVE SYSTEM October 1, 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 30 decreased $425 million to $18,394 million. Estimated required reserves decreased $122 million; and estimated excess reserves decreased $303 million to $263 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $458 million, compared with $293 million the week before. The principal changes reducing average reserves were decreases of $401 million in Federal Reserve float, $138 million in member bank borrowings, $74 million in U. S. Government securities bought outright, and $20 million in gold stock, and an increase of $49 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $175 million in money in circulation and $68 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $613 million. As of Wednesday, September 30, holdings of U. S. Government securities bought outright were $60 million lower than a week earlier and member bank borrowings were $4l6 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Sept. 30, Sept. 23, Oct. 1, Sept. 30, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 26, 563 - 74 +1,623 26,563 Held under repurchase agreement Acceptances--bought outright 20 1 9 20 Loans, discounts, and advances-- Member bank borrowings 721 - 138 + 321 329 Other 1 1 Float 1,098 - 4oi + 194 951 Total Reserve Bank credit 28, 403 - 613 +2 128 27,865 , 5 Gold stock 19,493 20 -1,373 19,492/ ' Treasury currency outstanding 5,287 ± _9 + 68 5,2QT~C) 53,183 - 625 + 823 52,644 Money in circulation 31,809-1* - 175 592 31,836-1-2 Treasury cash holdings 396- %% 300 388- n ~) Treasury deposits with F. R. Banks 681 + 49 + 233 704 Foreign deposits with F. R. Banks 310 + 12 + 49 312 Other deposits with F. R. Banks 403 - 17 16 448 Other F. R. accounts (net) 1,196 - 68 73 1,196 34,789 - 201 663 3*7855 Member bank reserves-- 18,394 - 425 160 17,760 Required reserves (estimated) 18,131 - 122 + 357 18,132 Excess reserves (estimated) 263 - 303 - 197 - 372 On September 30, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,346 million, an increase of $29 million for the week and an increase of $784 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. 30, Sept. 23, Oct. 1, 1959 1959 1958 A S S E TS Gold certificate account 18,230,144 + 1 - 1,125,750 Redemption fund for F. R. notes 972,885 + 1 + 90,602 Total gold certificate reserves 19,203,029 + 2 - 1,035,148 F. R. notes of other Banks 483,569 - 8,690 + 115,347 Other cash 383,492 - 1,211 + 303 Discounts and advances 330,032 - 4l6,027 + 131,007 Industrial loans -- - 34o Acceptances--bought outright 20,035 • - - 9,069 U. S. Government securities: Bought outright-- Bills 2, 562, 250 59,500 + 11,,551166,,444400 • Certificates 10,506,993 —- -11,000,298 Notes 11,010,298 - - +11,000,298 Bonds 2,483,771 — *» — ~ Total bought outright 26,563,312 - 59,500 + 1, 516,440 Held under repurchase agreement -- - - * ~ Total U. S. Government securities 26,563,312 59,500 + 1, 516,440 - Total loans and securities 26,913,379 475,527 4" 1,638,038 Due from foreign banks 15 • - -- Uncollected cash items 5,437,331 - 506,947 + 254,688 Bank premises 97,642 85 + 7,168 - Other assets 220,299 + 16,593 + 55,095 TOTAL ASSETS 52,738,756 - 975,865 + 1,035,491 L I A B I L I T I ES Federal Reserve notes 27,515,342 - 23,527 + 634,253 Deposits: Member bank reserves 1177,,775599,,881144 - 337755,,449911 - 229944,,335533 U. S. Treasurer--general account 703,536 - 201,391 + 262,258 Foreign 311,833 + 1,452 + 37,121 Other 447,756 + 24,421 + 50,144 Total deposits 19,222,939 - 551,009 + 55,170 Deferred availability cash items 4,486,135 351,288 + 207,865 ~ Other liabilities and accrued dividends 39,806 + 372 + 21,709 TOTAL LIABILITIES 51,264,222 925,452 + 918,997 - C A P I T AL A C C O U N TS Capital paid in 383,366 + 136 + 26,228 Surplus 868,410 + 59,215 - * Other capital accounts 222,758 - 50,549 + 31,051 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,738,756 - 975,865 + 1,035,491 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l .1/0 + ..55## - 2.8% Contingent liability on acceptances purchased for foreign correspondents 6666,,557799 - 1,177 - 88,,660022 Industrial loan commitments 5 - 1,026 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 30, 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 320,843 6,703 397,900 16 days to 90 days 9,08l 13,332 6,424,210 91 days to 1 year 108 — 11,747,133 Over 1 year to 5 years -- -- 6,523,912 Over 5 years to 10 years — -- 410,385 Over 10 years — — 1,059,772 Total 330,032 20,035 26,563,312 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAHKT OH SEPTEMBER 30, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,230, 144 810,055 4,656,495 992,902 1622,706 1068,218 838,360 3299,365 704,515 371,902 686,536 632, 392 2546,698 Redemption fund for F. R. notes 972,885 58,255 225,079 59,491 85,139 86,178 56,807 175,165 43,515 23,100 43,791 30,520 85,845 Total gold certificate reserves 19,203,029 868,310 4,881,574 1052,393 1707,845 1154,396 895,167 3474,530 748,030 395,002 730,327 662,912 2632,543 F.R. notes of other Banks 483,569 48,953 92,676 36,140 25,265 45,070 63,829 35,541 12,551 36,716 22,110 16,931 47,787 Other cash 383,492 26,755 68,938 22,311 35,526 25,100 33,227 60,481 19,436 8,352 12,550 15,326 55,490 Discounts and advances 330,032 20,504 20,706 13,791 25,588 21,720 93,798 21,103 17,376 29,297 49,425 16,646 78 Acceptances— Bought outright 20,035 20,035 U. S. Govt, securities: Bought outright— Bills 2,562,250 138,912 644,796 146,115 221,834 164,208 135,041 443,403 104,207 58,360 110,446 102,270 292,658 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 13„ 41,3605,89 06525,046 141,639 215,040 159.160 429,821 101,015 56,573 107,063 99,137 283.694 Total 26,563,312 1^0*130 6,684,711 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 605,033 1145,012 1060,248 3034,035 Held under repurchase agreement Total U. S. Govt, sees. 26,563,312 1440,130 6,684,711 1514,799 2299,798 1702.389 1399,993 4596,834 1080,330 605,033 1145,012 1060,248 3034,035 Total loans & securities 26,913,379 1460,634 6,725,452 1528,590 2325,386 1724,109 1493,791 4617,937 1097,706 634,330 1194,437 1076,894 3034,113 Due from foreign banks 15 1 1 /4 1 l 1 12 1 1 11 Uncollected cash items 5,437,331 361,767 1,091,667 338,334 482,568 417,303 398,447 858,153 239,809 1481,M6515 243,777 267,751 589,100 Bank premises 97,642 4,394 10,038 4,091 9,288 6,786 9,737 13,851 7,151 5,118 4,678 10,038 12,472 Other assets 220,299 12,206 54,216 12,264 19.365 13,971 12,715 37.278 8,880 4.967 10.379 8.823 25.235 TOTAL ASSETS 52,738,756 2783,020 12,924,565 2994,124 4605,244 3386,736 2906,914 9097,773 2133,564 1233, l4o 2218,259 2058,676 6396,741 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 ON SEPTEMBER 30, 1959 Total Boston New York P de h l i p la h - ia C l l a e n v d e - Richmond Atlanta Chicago L S o t u . is M ap in o n li e s - K C an it s y a s Dallas Fra S n a c n is cc L I A B I L I T I ES Federal Reserve notes 27,515,342 1578,756 6,386,400 1723,509 2517,822 2100,591 1516,242 5245,545 1205,197 606,118 1100,553 800,431 2734,178 Deposits: Member bank reserves 17,759,814 717,326 4,747,473 835,480 1463,058 778,905 907,649 2770,813 618,388 419,631 790,154 891,247 2819,690 U.S.Treas.-gen.acet. 703,536 45,399 99,138 31,076 48,413 72,985 46,092 93,448 57,148 32,178 54,885 41,909 80,865 Foreign 311,833 16,775 1/92,233 20,130 27,450 15,250 14,335 45,140 11,285 7,320 11,895 15,860 34,160 Other 447,756 371 386,890 1,797 644 4,070 975 1,577 360 564 1,722 827 47,959 Total deposits 19,222,939 779,871 5,325,734 888,483 1539,565 871,210 969,051 2910,978 687,181 459,693 858,656 949,843 2982,674 Deferred availability cash items 4,486,135 336,833 801,553 283,260 411,644 336,135 348,129 716,081 182,850 129,984 198,352 231,721 509,593 Other liabilities and accrued dividends 39,806 4,800 9,031 1,945 3,695 2,015 2,050 5,974 1,432 1,309 1,541 1,461 4,553 TOTAL LIABILITIES 51,264,222 2700,260 12,522,718 2697,197 4472,726 3309,951 2835,472 8878,578 2076,660 1197,104 2159,102 1983,456 6230,998 CAPITAL ACCOUNTS Capital paid in 383,366 18,939 110,215 22,778 36,070 17,189 19,727 52,229 12,756 8,721 15,631 21,996 47,115 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 222,758 13,705 52,730 14,542 19,805 14,750 12,241 34,807 10,402 6,530 10,591 9,788 22,867 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,738,756 2783,020 12,924,565 2994,124 4605,244 3386,736 2906,914 9097,773 2133,564 1233,l4o 2218,259 2058,676 6396,741 Conting. liab. on acceptances purchased for foreign correspondents 66,579 3,663 2/18,627 4,396 5,994 3,330 3,130 9,857 2,464 1,599 2,597 3,463 7,459 Industrial loan commit. 5 5 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,571,174 1649,790 6,656,250 1779,514 2588,412 2167,592 1589,362 5357,514 1255,403 622,756 1137,724 854,361 2912,496 Collat. for F. R. notes: Gold certificate acct. 10,200,000 530,000 2,420,000 64o,ooo 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 80,492 13,745 — — — — 17,350 49,397 U. S. Govt, securities 19,560,000 1200j000 4,500,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 Total collateral 29,840,49211730,000 6,920,000 1853,745 2670,000 2220,000 1700,000 5500,000 1382,350 650,000 1199,397 915,000 3100,000 l/ After deducting $2 1,,96, 00,000 participations of other Federal Reserve Banks. ~ ~ """~" T .2/ After deducting $47,952,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1