H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 15, 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 l4 decreased $135 million to $18,501 million. Estimated required reserves decreased $163 million; and estimated excess reserves increased $28 million to $521 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $527 million, compared with $513 million the week before. The principal changes reducing average reserves were a decrease of $49 million in Federal Reserve float, and increases of $163 million in money in circulation, $44 million in "other" deposits with Federal Reserve Banks, and $26 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $46 million in U. S. Government securities held under repurchase agreement and $42 million in member bank borrowings, and a decrease of $59 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $44 million. As of Wednesday, October l4, U. S. Government securities held under repurchase agreement were $15 million lower than a week earlier and member bank borrowings were $176 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesda; Reserve Bank credit, October l4, October 7, October 15, Oct. 14, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,563 +1,, 210 26,563 Held under repurchase agreement 74 + 46 - 71 35 Acceptances-- Bought outright 21 + 1 11 20 - Held under repurchase agreement 2 + 2 + 2 Loans, discounts, and advances— Member bank borrowings 1,048 + 42 + 576 453 Other 3 + 2 + 2 4 Float 956 - 49 + 34 994 Total Reserve Bank credit 28,667 + 44 +1,742 28,069 Gold stock 19,489 - 2 -1, 275 19,489 TTrreeaassuurryy ccuurrrreennccyy oouuttssttaannddiinngg 5,290 + 1 + 70 5,290 53,446 + 43 + 537 52,848 Money in circulation 32,096 +163 + 598 32,093 Treasury cash holdings 387 - - - 302 394 Treasury deposits with F. R. Banks 474 - 59 + 88 437 Foreign deposits with F. R. Banks 326 + 26 - 1 377 Other deposits with F. R. Banks 464 + 44 + 52 401 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,197 + 3 4- 76 1,195 34,944 +178 + 510 34,898 Member bank reserves-- 18,501 -135 + 26 17,950 Required reserves (estimated) 17,980 -163 - 9 17,941 Excess reserves (estimated) 521 + 28 + 35 9 On October l4, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,484 million, an increase of $75 million for the week and an increase of $833 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

fi.4.1(a) STATEMENT OB' CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since October lb, October 7, October 15, 1959 1959 1958 A S S E TS Gold certificate account 18, 245, l4l - 10,001 - 1,071,752 Redemption fund for F. R. notes 950,879 + 7,519 + 72,033 Total gold certificate reserves 19,193,020 - 2, 482 - 999,719 F. R. notes of other Banks 395,933 • 27,966 + 68,066 Other cash 361,526 - 1,882 + 2,559 Discounts and advances 456,301 - 175,220 + 211,446 Industrial loans -- -- - 338 Acceptances—bought outright 20,037 + 1 12,228 ~ U. S. Government securities: Bought outright— Bills 2,562,250 -- + 1,183,940 Certificates 10, 506,993 —— -11,000,298 Notes 11,010,298 — — +11,000,298 Bonds 2,483,771 mm mm — — Total bought outright 26,563,312 — — + 1,183,940 Held under repurchase agreement 35,100 - 15,000 - 93,000 Total U. S- Government securities 26,598,412 - 15,000 + 1,090,940 Total loans and securities 27,074,750 190,219 + 1,289,820 Due from foreign banks 15 — <*• -- Cash items in process of collection 6,164,808 +1,164,766 - 196,020 Bank premises 97,694 + 2 + 7,018 Other assets 255,281 17,537 + 65,910 TOTAL ASSETS 53,546,027 + 959,756 + 237,634 L I A B I L I T I ES Federal Reserve notes 27,662,159 + 58,220 + 605,821 Deposits: Member bank reserves 17,949,852 - 101,403 - 600,549 U. S. Treasurer--general account 436,947 - 16,461 + 97,234 Foreign 376,938 + 34,662 + 53,297 Other 401,304 + 719 + 62,574 Total deposits 19,165,041 - 82,483 - 387,444 Deferred availability cash items 5,170,879 + 965,628 - 129,433: Other liabilities and accrued dividends 38,869 + 1,097 + 16,900 TOTAL LIABILITIES 52,036,948 + 942,462 + 105,844 C A P I T AL A C C O U N TS Capital paid in" "" 383,572 + 101 + 26,400 Surplus 868,410 — + 59,215 Other capital accounts 257,097 + 17,193 + 46,175 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,546,027 + 959,756 + 237,634 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4l.0$ — - 2.3$ Contingent liability on acceptances purchased for foreign correspondents 64,373 - 662 - 3,286 Industrial loan commitments 5 -- - 1,014 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER l4, 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 442,946 7,342 399,160 16 days to 90 days 12,286 12,695 6,536,050 91 days to 1 year 1,069 — 11,669,133 Over 1 year to 5 years -- -- 6,523,912 Over 5 years to 10 years — — 410,385 Over 10 years __ — 1,059,772 Total 456,301 20,037 26,598,412 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

2.4.1(b) STATEMENT OF CONDITION OF BACH FEDERAL RESERVE BANK ON OCTOBER 14, 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 18,245,141 836,612 4,436,575 1084,690 1660,595 1128,761 877,254 3332,244 726,574 364,298 681,188 645,514 2470,836 Redemption fund for F. R. notes 950,879 57,851 208,473 58,875 84,564 84,442 56,315 174,505 43,340 22,934 43,658 30,4o8 85,514 Total gold certificate 19,196,020 reserves 894,463 4,645,048 1143,565 1745,159 1213,203 933,569 3506,749 769,914 387,232 724,846 675,922 2556,350 F.R. notes of other Banks 395,933 36,412 79,281 30,071 18,594 37,561 Other cash 361,526 24,485 65,696 21,039 33,811 23,463 Discounts and advances 456,301 19,454 Acceptances— Bought outright 20,037 U. S. Govt, securities: Bought outright— Bills 2,562,250 Certificates 10,506,993 Notes 11,010,298 Bonds 2,483,771 Total 26,563,312 Held under repurchase agreement 35,100 Total U. S. Govt, sees. 26,598,412 Total loans & securities 27,074,750 Due from foreign banks 15 Cash items in process of collection 6,164,808 Bank premises 97,694 Other assets 255,281 TOTAL ASSETS 53,546,027 KM O CO 27,295 10,107 33,282 18,588 15,029 36,663 59,295 20,191 8,601 11,793 14,154 49,140 28,486 20,089 36,683 10,185 96,134 123,372 6,437 40,059 47,306 19,432 8,664 20,037 — — — w w w mm mm 138,912 644,796 146,115 221,834 164,208 135,o4l 443,403 104,207 58,360 110,446 102,270 292,658 569,637 2,644,106 599,172 909,674 673,373 553,760 1818,256 427,319 239,318 452,904 419,376 1200,098 596,923 2,770,763 627,873 953,250 705,628 580,287 1905,354 447,789 250,782 474,599 439,465 1257,585 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 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 —— 33 3100 *"* — — — — — — —— — — 1440,130 6,719,811 1514,799 2299,798 1702,389 1399,993 4596,834 1080,330 605,033 1145.012 1060.2k8 3014.015 1459,584 6,768,334 1534,888 2336,481 1712,574 1496,127 4720,206 1086,767 645,092 1192,318 1079,680 3042,699 1 1 /4 l l 1 12 1 2/ 1 11 361,445 1,194,843 420,324 537,137 510,715 481,188 1030,645 290,790 172,634 288,637 278,068 598,382 4,394 10,038 4,096 9,295 6,787 9,737 13,851 7,151 5,171 4,664 10,038 12,472 13,939 63,204 14,280 22,369 16,328 14,546 43,320 10,230 5,763 11,860 10,351 29.091 2794,723 12,826,448 3168,264 4702,84? 3520,632 3018,076 9401,363 2195,151 1257,775 2252,707 2083,243 6324,798 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

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER l4, 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 27,662,159 1590,981 6,412,133 1737,157 2525,921 2117,185 1527,046 5265,910 1214,956 606,4l8 1103,105 804,565 2756,782 Deposits: Member bank reserves 17,949,852 763,798 4,527,310 901,945 1526,317 828,942 954,653 2907,310 659,047 424,423 802,972 910,695 2742,440 TJ .8 .Treas .-gen.acct. 436,947 26,057 , 59,690 30,112 37,589 39,438 26,862 47,971 20,238 27,702 41,700 32,125 47,463 Foreign 376,938 20,515 1/108,378 24,618 33,570 18,650 17,531 55,204 13,801 8,952 14,547 19,396 41,776 Other 401,304 2,057 319,000 8,697 2,582 6,628 3,192 5,821 2,254 934 3,061 1,863 45,215 Total deposits 19,165,041 812,427 5,014,378 965,372 1600,058 893,658 1002,238 3016,306 695,340 462,011 862,280 964,079 2876,894 Deferred availability cash items 5,170,879 304,797 978,935 364,868 437,588 428,579 4i3,46l 887,713 225,148 151,366 224,899 236,4o4 517,121 Other liabilities and accrued dividends 38,869 2/, 0^55 9^,983 ^ ^ ^1,963 ^ ^ 3—,8 9j9 2,346 2,016 6,092 1,513 1,233 1,708 1 *1*—,6 3i4 4,427 ? * TOTAL LIABILITIES 52,036,948 2710,260 12,415,429 3069,360 4567,466 3441,768 2944,761 9176,021 2136,957 1221,028 2191,992 2006,682 6155,224 CAPITAL ACCOUNTS Capital paid in 383,572 18,945 110,310 22,798 36,055 17,194 19,765 52,254 12,755 8,727 15,640 22,002 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 257,097 15,402 61,807 16,499 22,683 16,824 14,076 40,929 11,693 7,235 12,l4o 11,123 26,686 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,546,027 2794,723 12,826,448 3168,264 4702,847 3520,632 3018,076 9401,363 2195,151 1257,775 2252,707 2083,243 6324,798 Conting. liab. on acceptances purchased for foreign correspondents 64,373 3,542 2/18,005 4,250 5,796 3,220 3,027 9,531 2,383 1,545 2,512 3,349 7,213 Industrial loan commit. 5 5 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,55l,40l|l657,237 6,635,065 1780,142 2583,664 2171,991 1587,713 5368,302 1262,948 620,646 1132,217 851,126 2900,350 Collat. for F. R. notes: Gold certificate acct. 10,480,000 530,000 2,700,000 640,000 920,000 670,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 Eligible paper 73,307 "" — — 19,845 —— —— — — —— 6,300 —— 47,162 — — 19,060,000 U. S. Govt, securities 1200.0C0 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 29,613,307 1730,000 6,700,0001359,845 2670,000 2220,000 1700,000 5500,000 1371,300 650,000 1197,162 915,000 3100,000" \f After deducting $268,560,000 participations of other Federal Reserve Banks Di_g§iti/z eAd ffotr eFrR dASeEdRu cting $46,368,000 participations of other Federal Reserve Banks http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis