H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM October 8, 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 October 7 increased $242 million to $18,636 million. Estimated required reserves increased $3 million; and estimated excess reserves increased $239 million to $493 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $513 million, compared with $467 million the week before. The principal changes supplying average reserves were increases of $285 million in member bank borrowings and $28 million in U. S. Government securities held under repurchase agreement, and a decrease of $l48 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $93 million in Federal Reserve float and an increase of $124 million in money in circulation. Total Reserve Bank credit increased $220 million. As of Wednesday, October 7, U. S. Government securities held under repurchase agreement were $50 million higher than a week earlier an dmember bank borrowings were $299 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 7, Sept. 3°, I October 8, October 7, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 26,563 » - +1,420 26,563 Held under repurchase agreement 28 + 28 + 28 50 Acceptances—bought outright 20 - - - 11 20 Loans, discounts, and advances— Member bank borrowings 1,006 +285 + 573 629 Other 1 •» — »— 3 Float 1,005 - 93 + 94 , 795 Total Reserve Bank credit 28,623 +220 +2,104 28,060 Gold stock 19,491 - 2 -1,339 19,490 Treasury currency outstanding 5,289 + 2 + 70 5,289 53,403 +220 4- 834 52,839 Money in circulation 31,933 +124 + 581 32,006 Treasury cash holdings 387 - 3 - 304 391 Treasury deposits with F. R. Banks 533 -148 + 86 453 Foreign deposits with F. R. Banks 300 - 10 + 1 342 Other deposits with F. R. Banks 420 + 17 + 77 401 Other F. R. accounts (net) 1,194 - 2 + 75 1,194 34,766 - 23 + 515 34,787 Member bank reserves — 18,636 +242 + 318 18,051 Required reserves (estimated) 18,143 + 3 + 390 18,120 Excess reserves (estimated) 493 +239 72 69 - On October 7, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,409 million, an increase of $63 million for the week and an increase of $804 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 October 7, Sept. 30, October 8, 1959 1959 1958 A S S E TS Gold certificate account 18,255,142 + 24,998 - 1,102,750 Redemption fund for F. R. notes 943,360 • 29,525 + 63,110 Total gold certificate reserves 19,198,502 - 4, 527 - 1,039,640 F. R. notes of other Banks 423,899 - 59,670 + 83,151 Other cash 363,408 - 20,084 - 167 Discounts and advances 631,521 + 301,489 + 248,696 Industrial loans - - • 340 Acceptances—"bought outright 2200,,003366 + 1 1122,,117700 U. S. Government securities: Bought outright— Bills 2, 562,250 mm mm 1,341,040 Certificates 10,506,993 w — -11,000,298 Notes 11,010,298 mm mm +11,000.298 Bonds 2,483,771 — mm Total bought outright 26,563,312 mm mm + 1,341,040 Held under repurchase agreement 50,100 + 50,100 + 50,100 Total U. S. Government securities 26,613,412 + 50,100 + 1,391,140 Total loans and securities 27,264,969 + 351,590 + 1,627,326 Due from foreign "banks 15 mm mm — — Cash items in process of collection 5,000,042 - 437,289 + 396,151 Bank premises 97,692 + 50 + 7,139 Other assets 237,744 17,445 + 60,411 TOTAL ASSETS 52,586,271 152,485 + 1,134,371 - L I A B I L I T I ES Federal Reserve notes ~ 27,603,939 8888,,559977 + 660044,,445555 Deposits: Member bank reserves 18,051,255 + 291,441 - 174,309 U. S. Treasurer—general account 453,408 - 250,128 + 100,050 Foreign 342,276 + 30,443 + 16,781 Other 400,585 - 47,171 + 51,382 . Total deposits 19,247,524 + 24,585 6,096 Deferred availability cash items 4,205,251 - 280,884 + 394,690 Other liabilities and accrued dividends 37,772 2,034 + 17,238 TOTAL LIABILITIES 51,094,486 - 169,736 + 1,010,287 C A P I T AL A C C O U N TS Capital paid in 383,471 + 105 4- 26,295 Surplus 868,410 + 59,215 Other capital accounts 239,904 + 17,146 + 38, 574 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,586,271 152,465 + 1,134,371 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.0$ .1$ 2.8$ Contingent liability on acceptances purchased for foreign correspondents 64,995 - 1,584 6,243 Industrial loan commitments 5 1,026 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 7, 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 620,007 7,717 &50,800 16 days to 90 days 9,442 12,319 6,453,410 91 days to 1 year 2,072 11,715,133 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 631,521 20,036 26,613,412 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 7i 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 18,255,142 863,305 4,558,071 1038,673 1602,4o4 1127,931 874,996 3194,897 719,977 357,131 681,624 700,993 2535,140 Redemption fund for F. R. notes 943,360 57,989 199,089 59,079 84,767 85,063 56,484 174,727 43,394 22,998 43,699 30,445 85,626 Total gold certificate reserves 19,198,502 921,294 4,757,160 1097,752 1687,171 1212,994 931,480 3369,624 763,371 380,129 725,323 731,438 2620,766 F.R. notes of other Banks 423,899 41,916 84,610 36,704 20,580 37,770 56,180 28,427 9,988 34,790 20,881 14,491 37,562 Other cash 363,4o8 25,779 63,413 22,021 32,897 23,623 32,339 59,949 18,807 9,339 11,839 13,619 49,783 Discounts and advances 631,521 27,249 81,631 28,238 68,793 5,565 112,367 165,221 18,500 18,945 57,070 40, l4o 7,802 Acceptances— Bought outright 20,036 — «• 20,036 tm mm mm mm — •» — -* — — - - — — - - — - U. S. Govt. securities: Bought outright— Bills 2, 562,250 138,912 644,796 146,115 221,834 164,208 135,04i 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 2,483,771 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 26,563,312 1440,130 6,684,711 1514,799 2299,798 1702,309 1399,993 4596,034 1000,330 605,033 1145,012 1060,24b 3034,035 Held under repurchase agreement 50,100 •> 50,100 — — — — — — •« — — — — •• Total U. S. Govt, sees. 26,613,412 1440,130 6,734,811 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 605,033 1145,012 1060,248 3034,035 Total loans & securities 27,264,969 1467,379 6,836,478 1543,037 2368,591 1707,954 1512,360 4762,055 1098,830 623,978 1202,082 1100,388 3041,837 Due from foreign tanks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Cash items in process of collection 5,000,042 359,636 910,113 306,695 4o8,161 428,272 402,485 793,373 236,020 150,362 243,815 245,348 515,762 Bank premises 97,692 4,394 10,038 4,095 9,295 6,787 9,737 13,851 7,150 5,171 4,664 10,038 12,472 Other assets 237,744 13,184 58,888 13,278 20,880 15,135 13,641 40,181 9,522 5,371 ll,o4o 9,537 27,087 TOTAL ASSETS 52, 586,2712 833,583 12,720,704 3023,583 4547,576 3432,536 2958,223 9067,462 2143,689 1209,140 2219,645 2124,860 6305,270 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 OCTOBER 1, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 27,603,939 1582,334 6,398,305 1728,235 2521,548 2108,148 1528,502 5255,006 1210,622 607,651 1105,395 802,461 2755,732 Deposits: Member bank reserves 18,051,255 782,637 4,714,957 877,417 1466,755 814,621 952,515 2820,156 639,995 399,806 796,884 992,407 2793,105 U•S.Treas.-gen.acct. 453,408 33,460 41,304 31,973 34,681 49,559 24,402 48,970 33,402 27,616 47,208 24,707 56,126 Foreign 342,276 17,985 1/106,836 21,582 29,430 16,350 15,369 48,396 12,099 7,848 12,753 17,004 36,624 Other 400,585 279 ~ 332,788 3,856 1,380 6,633 1,380 3,310 1,981 433 2,569 989 44,987 Total deposits 19,247,524 834,361 5,195,885 934,828 1532,246 887,163 993,666 2920,832 687,477 435,703 859,414 1035,107 2930,842 Deferred availability cash items 4,205,251 331,376 710,051 260,678 356,013 357,278 361,737 663,058 186,636 128,218 193,305 209,896 447,005 Other liabilities and accrued dividends 37,772 1,903 10,043 1,937 3,800 2,117 1,919 6,328 1,390 1,174 1,566 1,521 4,074 TOTAL LIABILITIES 51,094,486 2749,974 12,314,284 2925,678 4413,607 3354,706 2885,824 8845,224 2086,125 1172,746 2159,680 2048,985 6137,653 CAPITAL ACCOUNTS Capital paid in 383,471 18,939 110,277 22,782 36,053 17,190 19,760 52,232 12,755 8,725 15,632 21,999 47,127 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 239,904 14,554 57,241 15,516 21,273 15,794 13,165 37,847 11,063 6,884 11,398 10,440 24,729 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,586,271 2833,583 12,720,704 3023,583 4547,576 3432,536 2958,223 9067,462 2143,689 1209,140 2219,645 2124,860 6305,270 Conting. liab. on acceptances purchased for foreign correspondents 64,995 3,575 2/18,195 4,290 5,850 3,250 3,055 9,620 2,405 1,560 2,535 3,380 7,280 Industrial loan commit. 5 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,547,693 1654,979 6,642,013 1779,243 2582,395 2158,675 1584,860 5369,230 1260,672 621,610 1131,232 855,466 2907,318 Collat. for F. R. notes: Gold certificate acct. 10,700,000 530,000 2,920,000 64o,ooo 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 103,425 -• 28,060 -- •- — — —— 18,400 -- 56,965 ** — — U. S. Govt, securities 19,060,000 1200,000 4,000,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 Total collateral 29,863,425 1730,000 6,920,000 1868,060 2670,000 2220,000 1700,000 5500,000 1383,400 650,000 1206,965 915,000 3100,000 .1/ After deducting $235,440,000 participations of other Federal Reserve Banks. 2/ After deducting $46,800,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis