H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD bfe GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 22, 1959 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ended October 21 increased $178 million to $18,679 million .Estimated required reserves increased $164 million; and estimated excess reserves increased $14 million to $489 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $330 million, compared with $57 3million the week before. The principal changes supplying average reserves were an increase of $46l million in Federal Reserve float and decreases of $70 millio nin money in circulation, $120 million in "other" deposit swith Federal Reserve Banks, and $32 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $229 million in member ban kborrowings, $l6l million in U. S. Government securities bought outright and $74 million held under repurchase agreement, an dan increase of $44 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $3 million. As of Wednesday, October 21, holdings of U. S. Government securities bought outright were $199 million lower than a week earlier ,U. S. Government securities held under repurchase agreement were $35 million lower, and member bank borrowings were $4ll million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 21, October 14, October 22, October 21, and related items 1959 1959 1958 1959 (][ n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 26,402 -l6l +1,160 26,364 Held under repurchase agreement -- - 74 -- — Acceptances-- Bought outright 21 - 12 21 Held under repurchase agreement - 2 Loans, discounts, and advances-- Member bank borrowings 819 -229 + 451 864 Other 5 + 2 + 4 6 Float 1,417 +461 + 16 1,178 Total Reserve Bank credit 28,664 - 3 +1,618 28,432 Gold stock 19,488 - 1 -1,236 19,487 Treasury currency outstanding 5,293 + 3 + 73 5,295 53,444 - 2 + 454 53,215 Money in circulation 32,026 - 70 + 591 31,917 Treasury cash holdings 391 + 4 - 290 393 Treasury deposits with F. R. Banks 518 + 44 + 54 503 Foreign deposits with F. R. Banks 294 - 32 - 14 292 Other deposits with F. R. Banks 344 -120 4" 12 342 Other F. R. account s(net) 1,193 - 4 + 76 1,191 34,765 -179 + 427 34,638 Member bank reserves-- 18,679 +178 + 27 18,577 Required reserves (estimated) 18,190 +164 + 164 18,229 Excess reserves (estimated) 489 + 14 - 77 348 On October 21, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,588 million, an increase of $104 million for the week and an increase of $888 millio nfrom the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H «4 »l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since October 21, October 14, October 22, 1959 1959 1958 A SS E T S Gold certificate account 18,245,141 972,751 Redemption fund for F. R. notes 947,338 3,54l + 57,674 - Total gold certificate reserves 19,192,479 3; 541 915,077 - * F. R. note sof other Bank s' 460,153 + 64,220 + 77,812 Other cash 374,397 + 12,871 2,913 Discounts and advances 869,892 + 413,591 + 111,142 Industrial loans — — - 338 Acceptances—bought outright 20,539 + 502 10,984 U. S. Government securities: Bought outright— Bills 2,362,950 199,300 + 1,138,740 Certificates 10,506,993 -11,000,298 -- Notes 11,010,298 +11,000,298 — — Bonds 2,483,771 - — —~ Total bought outright 26,364,012 199,300 + 1,138,740 - Held under repurchase agreement 35,100 -- - -- Total U. S. Government securities 26,364,012 234,400 1,138,740 - Total loans and securities 27,254,443 + 179,693 + 1,238,560 Due from foreign banks 15 - - mm m. Cash items in process of collection 6,041,832 122,976 + 537,684 - Bank premises 98,720 + 1,026 + 7,637 Other assets 273,519 + 18,238 + 72,186 TOTAL ASSETS 53,695,558 + 149,531 4\1 ,015,889 L I A B I L I T I ES Federal Reserve notes ~ " 27,554,193 107,966 + 580,849 - Deposits: Member bank reserves 18,577,123 + 627,271 97,591 U. S. Treasurer—general account 502,823 + 65,876 ~ 21,769 Foreign 292,4o4 - 84,534 - 4,304 Other 341,613 59,691 + 24,984 - Total deposits 19,713,963 + 548,922 - 98,680 Deferred availability cash items 4,863,888 306,991 + 378,926 - Other liabilities and accrued dividends 37,494 1,375 + 15,690 - TOTAL LIABILITIES 52,169,538 + 132,590 + 876,785 C A P I T A L A C C O U N TS Capital paid In" 383,746 + 174 + 26,463 Surplus 868,4io — *» + 59,215 Other capital accounts 273,864 + 16,767 + 53,426 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,695,558 + 149,531 + 1,015,889 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined ho. 6% .4% 2.4% - - Contingent liability on acceptances purchased for foreign correspondents 63,082 1,291 2,592 Industrial loan commitments - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 21, 1959 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and U. S. Government advances Acceptances securities Within 15 days 853,806 6,557 #7,150 16 days to 90 day s15,017 13,982 6,517,700 91 days to 1 yea r1,069 -- 11,405,093 Over 1 year to 5 years -- g 523 mg Over 5 years to 10 year s-- ' 410* 385 Over 10 years -- — 1,059/772 Total 869,892 20,539 26,364,012 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 21, 1959 Total Boston New York P de h l i p l h a i - a C l l a e n ve d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n it sa y s Dallas Fra S nc a i n s cc (In thousands of dollars) A S S E TS Gold certificate account 18,245,141 894,906 4,813,716 1018,858 1618,862 1084,626 831,741 3104,479 757,676 346,087 653,945 671,544 2448,701 Redemption fund for F. R. notes 947,338 57,651 207,657 58,564 84,285 83,576 56,038 174,159 43,260 22,861 43,587 30,351 85,349 Total gold certificate reserves 19,192,479 952,557 5,021,373 1077,422 1703,147 1168,202 887,779 3278,638 800,936 368,948 697,532 701,895 2534,050 F.R.. notes of other Banks 460,153 43,822 99,068 37,194 23,175 40,001 55,418 32,045 11,286 34,552 22,606 19,008 41,978 Other cash 374,397 24,815 67,398 21,030 32,394 24,494 32,862 62,901 21,459 9,527 12,127 14,957 50,433 Discounts and advances 869,892 9,014 146,346 39,161 73,833 33,144 128,508 249,338 16,921 57,037 71,621 24,531 20,438 Acceptances— Bought outright 20,539 20,539 U. S. Govt, securities: Bought outright— Bills 2,362,950 128,107 594,641 134,750 204,580 151,436 124,537 4o8,9l4 96,101 53,820 101,855 94,315 269,894 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 26,364,012 1429,325 6,634,556 1503,434 2282,544 1689,617 1389,489 4562, 345 1072 ,224 600,493 1136, 421 1052, 293 3011 ,271 Held under repurchase agreement Total U. S. Govt. sees. 26,364.012 1429,325 6,634,556 1503,434 2282,544 1689,617 1389.489 4562.345 1072.224 600.493 1136.421 1052.293 3011.271 Total loans & securities 27,254,443 -438,339 6,801,441 1542,595 2356,377 1722,761 1517,997 4811,683 1089,145 657,530 1208,042 1076,824 3031,709 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 l l Cash items in process of collection 6,041,832 470,477 1,142,002 368,480 504,788 456,809 475,227 962,566 263,799 169,661 309,572 296,282 622,169 Bank premises 98,720 4,394 10,038 4,096 9,282 6,780 9,736 14,393 7,151 5,171 4,664 10,588 12,427 Other assets 273,519 14,804 68,449 15,240 23,698 17.332 15.517 46.500 10,925 6,174 12.609 11.230 31.04l TOTAL ASSETS 53,695,558 2949,209 13,209,773 3066,058 4652,862 3436,380 2994,537 9208,728 2204,702 1251,563 2267,153 2130,785 6323,808 1/ After deducting $11,000 participations of other Federal Rsfipnrp 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 21, 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 27,554,193 1579,186 6,378,883 1732,638 2517,126 2107,531 1518,499 5256,58 61212,823 605,082 1099,351 803,508 2742,980 Deposits: Member bank reserves 18,577,123 834,313 5,201,783 881,799 1489,938 793,042 955,620 2833,183 676,868 431,181 800,002 950,849 2728,545 U.S.Treas.-gen.acct. 502,823 41,559 66,036 30,409 48,636 46,355 22,710 54,019 28,977 25,150 42,504 32,782 63,686 Foreign 292,404 15,015 1/95,844 18,018 24,570 13,650 12,831 4o,4o4 10,101 6,552 10,647 14,196 30,576 Other 341,613 524 281,064 2,328 599 3,154 l,4ll 459 776 623 1,479 1,081 48,115 Total deposits 19,713,963 891,411 5,644,727 932,554 1563,743 856,201 992,572 2928,065 716,722 463,506 854,632 998,908 2870,922 Deferred availability cash items 4,863,888 391,373 761,087 299,044 431,562 390,711 407,343 789,415 215,007 144,700 250,164 249,413 534,069 Other liabilities and accrued dividends 37,494 1,939 9,653 1,949 3,564 2,195 1,903 6,319 1,323 1,146 1,528 1,651 4,324 TOTAL LIABILITIES 52,169,538 2863,909 12,794,350 2966,185 4515,995 3356,638 2920,317 8980,385 2145,875 1214,434 2205,675 2053,480 6152,295 CAPITAL ACCOUNTS Capital paid in 383,746 18,945 110,331 22,799 36,068 17,194 19,772 52,274 12,755 8,730 15,666 22,085 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 273,864 16,239 66,190 17,46? 24,156 17,702 14,974 43,910 12,326 7,6l4 12,877 11,784 28,625 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,695,558 2949,209 13,209,773 3066,058 4652,862 3436,380 2994,537 9208,728 2204,702 1251,563 2267,153 2130,785 6323,808 Conting. liab. on acceptances purchased for foreign correspondents 63,082 3,470 2/17,650 4,165 5,679 3,155 2,966 9,339 2,335 1,514 2,46l 3,281 7,067 Industrial loan commit. FEDERAL RESERVE AGENTS 'ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,614,0571| 1653,838 6,691,311 1780,658 2575,521 2169,827 1594,822 5378,300 1259,218 619,250 1132,689 851,268 2907,355 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,510,000 530,000 2,700,000 64o,ooo 920,000 700,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 126,894 -- -- 38,785 — — — -- 16,710 -- 71,399 -- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 19,160,000 1200,000 4,100,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 TToottaall ccoollllaatteerraall 29,796,894 1730,000 6,800,000 1878,785 2670,000 2250,000 1700,000 5500,000 1381,710 650,000 1221,399 915,000 3100,000 . —— J^a,X WJ. V VJOX.J. J.' U>JL V& XiOJOUO • 2/ After deducting $4$,432,000 participations of other Federa lReserve Banks• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis