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 29, 1959 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, 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 28 decreased $111 millio nto $18,568 million. Estimated required reserves increased $89 million; and estimated excess reserves decreased $200 million to $289 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $501 million, compared with $330 million the week before. The principal changes reducing average reserves were decreases of $268 million in Federal Reserve float, $29 million in member ban kborrowings, and $17 million in Federal Reserve holdings of U. S. Government securities. The principal offsetting changes were decreases of $153 million in money in circulation and $57 million in "other" F. R. account s(net). Total Reserve Bank credit decreased $311 million. As of Wednesday, October 28, holdings of U. S. Government securities bought outright and" those held under repurchase agreement were unchanged from a week earlier, and member ban kborrowings were $66 million higher. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, October 28, October 21, October 29, Oct. 28, and related items 1959 1959 1958 1959 (]C n millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 26,364 - 38 +1,064 26,364 Held under repurchase agreement 21 + 21 + 21 - - Acceptances—bought outright 22 + 1 12 23 - Loans, discounts, and advances— Member bank borrowings 790 - 29 + 335 930 Other 7 + 2 5 7 Float 1,149 -268 + 172 835 Total Reserve Bank credit 28,353 -311 +1,586 28,158 Gold stock 19,486 - 2 -1,204 19,486 Treasury currency outstanding ' 5,297 + 4 + 76 5,297 53,136 -308 + 458 52,942 Money in circulation 31,873 -153 + 574 31,833 Treasury cash holdings 396 + 5 - 285 402 Treasury deposits with F. R. Banks - 530 + 12 + 18 536 Foreign deposits with F. R. Banks 297 + 3 + 27 314 Other deposits with F. R. Banks 335 - 9 + 14 328 Other F. R. account s(net) 1,136 - 57 + 56 1,126 3*7555 -197 + 405 34,536 Member bank reserves-- 18,568 -111 + 53 .18,403 Required reserves (estimated) ' 18,279 + 89 + 286 18,264 Excess reserves (estimated) 289 -200 233 139 - On October 28, 1959; U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $4,600 million, an increase of $12 million for the week and an increase of $824 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 FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since October 28, October 21, October 29, 1959 1959 1958 A S S E TS Gold certificate account 18,241,643 3,498 976,249 Redemption fund for F. R. notes 948,163 + 825 + 6o,866 Total gold certificate reserves 19,189,806 - 2,673 • 915,383 F. R. notes of other Banks 477,377 + 17,224 + 90,933 Other cash . 387,064 + 12,667 + 6,007 Discounts and advances 936,548 + 66,656 + 558,281 Industrial loans - 338 Acceptances—bought outright 22,538 + 1,999 10,620 - U. S. Government securities: Bought outright— Bills 2,362,950 + 991,340 Certificates 10,506,993 - «. -11,000,298 Notes 11,010,298 +11,000,298 —» Bonds 2,483,771 -- «- — Total bought outright 26, 364,012 + 991,340 Held under repurchase agreement Total U. S. Government securities 26,364,012 - - + 991,340 Total loans and securities 27, 323,098 + 68,655 + 1,538,663 Due from foreign banks 15 «• «• Cash items in process of collection 5,294,862 746,970 + 306,049 - Bank premises 98,519 - 201 + 5,210 Other assets 290,719 + 17,200 + 80,439 TOTAL ASSETS 53,061,460 634,098 + 1,111,918 - L I A B I L I T I ES Federal Reserve notes ~ 27,505,772 48,421 + 566,869 - Deposits: Member bank reserves 18,403,372 - 173,751 + 136,682 U. S. Treasurer—general account 536,238 + 33,415 - 5,995 Foreign 313,743 + 21,339 + 33,625 Other 327,533 - 14,080 + 1,350 Total deposits 19,580,886 133,077 •f 165,662 - Deferred availability cash items 4,459,714 - 404,174 + 247,247 Other liabilities and accrued dividends 37,003 - 491 + 14,548 TOTAL LIABILITIES 51,583,375 - 586,163 + 994,326 C A P I T AL A C C O U N TS Capital paid in" 383,853 + 107 + 26,511 Surplus 868,410 — - + 59,215 Other capital accounts 225,822 48,042 + 31,666 - TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,061,460 634,098 + 1,111,918 ...... Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 40.8% + .2% 2.6# - Contingent liability on acceptances purchased for foreign correspondents 62,379 - 703 • 8,032 Industrial loan commitments -- - 1,019 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 28, 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 917,208 57555 487,706— 16 days to 90 day s19,227 16,872 6,494,150 91 days to 1 yea r113 — 11/388,093 Over 1 year to 5 years — __ 6,523,912 Over 5 years to 10 year s— __ 410,385 OverlO years — __ 1,059,772 Total 936,548 22,538 26,364,012 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 28, 1959 Phila- Cleve- St# Minne- Kansas | San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousandso f dollars) A S S E TS Gold certificate account 18,241,643 900,855 4,857,000 1018,033 1567,495 1072,991 815,245 3114,714 770,333 346,571 637,884 676,477 2464,045 Redemption fund for F. R. notes 948,163 57,492 207,091 60,315 84,034 83,019 55,825 173,887 44,673 22,791 43,524 30,303 85,209 Total gold certificate reserves 19,189,806 958,347 5,064,091 1078,348 1651,529 1156,010 871,070 3288,601 815,006 369,362 681,4o8 706,780 2549,254 F.R. notes of other Banks 477,377 47,342 92,781 37,815 27,810 44,498 57,659 36,150 12,243 34,214 20,383 22,526 43,956 Other cash 387,064 25,835 69,308 21,573 35,869 26,492 33,007 65,579 20,664 9,646 13,010 15,327 50,754 Discounts and advances 936,548 19,469 153,336 28,617 68,018 47,768 135,455 293,758 12,628 50,111 75,000 26,738 25,650 Acceptances— Bought outright 22,538 22,538 U. S. Govt, securities: Bought outright— Bills 2,362,950 128,107 594,641 134,750 204,580 151,436 124,537 408,914 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 2,483,77% _1L3j44,,605580 0<O6,25, 0V4460 l4l, 639 215,040 159,180 130,905 429,821 101,015 56,573 107,063 • 99,137 283,694 1429,325 6,634,556 1503,434 2282,544 1689,617 1072,224 1052,293 3011,271 Total 26,364,012 1389,489 4562,345 600,493 1136,421 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 27,323,098 1448,794 6,810,430 1532,051 2350,562 1737,385 1524,944 4856,103 1084,852 650,6o4 1211,421 1079,031 3036,921 Due from foreign hanks 15 1 1 /4 1 1 1 1 2 1 2/ 1 11 Cash items in process of collection 5,294,862 387,981 992,027 323,968 432,761 413,737 405,961 847,693 248,012 166,081 259,045 251,233 566,363 Bank premises 98,519 4,359 10,038 4,074 9,281 6,741 9,702 14,356 7,151 5,143 4,664 10,588 12,422 Other assets 290,719 15,645 72,347 16,182 25,317 18,522 16,380 49,859 11,627 6,590 13,287 11,859 33,104 TOTAL ASSETS 53,061,460 2888,304 13,111,026 3014,012 4533,130 3403,386 2918,724 9158,343 2199,556 1241,640 2203,219 2097,345 6292,775 1/ After deducting $11,000 participation sof other Federa lReserve Banks. 2/ Less tha n$500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Phila- Cleve- . St. Minne- Kansas ... San Total Boston New York delphia land Richmond Atlanta Chicago apolis City Dallas Louis Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,505,772 1570,707 6,406,463 1730,707 2505,248 2100,6o4 1519,376 5235,185 1210,227 602,774 1094,191 802,588 2727,702 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,403,372 826,047 5,141,293 860,328 1442,116 820,363 903,990 2867,116 677,431 4l4,636 766,424 943,622 2740,006 UUUUU.....88888.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 536,238 32,838 60,921 32,956 43,010 35,189 45,570 53,646 40,677 35,997 52,24? 39,662 63,525 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 313,743 16,995 1/91,263 20,394 27,810 15,450 14,523 45,732 11,433 7,4l6 12,051 16,068 34,608 OOOOOttttthhhhheeeeerrrrr 327,533 311 272,158 1,436 514 3,514 3,039 705 995 128 654 743 43,336 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,580,886 876,191 5,565,635 915,114 1513,450 874,516 967,122 2967,199 730,536 458,177 831,376 1000,095 2881,475 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,459,714 356,874 727,306 269,290 378,015 349,206 358,484 730,176 200,297 143,244 216,584 217,538 512,700 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 37,003 1,740 9,059 1,796 3,729 2,138 1,995 6,003 1,425 1,244 1,658 1,688 4,528 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,583,375 2805,512 12,708,463 2916,907 4400,442 3326,464 2846,977 8938,563 §142,485 1205,439 2143,809 2021,909 6126,405 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 383,853 18,954 110,336 22,787 36,076 17,206 19,783 52,291 12,802 8,738 15,667 22,085 47,128 SSSSSuuuuurrrrrpppppllllluuuuusssss 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 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 225,822 13,722 53,325 14,711 19,969 14,870 12,490 35,330 10,523 6,678 10,808 9,915 23,481 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAAMMMMMDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,061,460 2888,304 13,111,026 3014,012 4533,130 3403,386 2918,724 9158,343 2199,556 l24l,64o 2203,219 2097,345 6292,775 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 62,379 3,432 2/17,451 4,118 5,616 3,120 2,933 9,235 2,309 1,497 2,434 3,245 6,989 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,591,827 1656,536 6,684,830 1780,154 2574,490 2168,446 1591,16? 5359,19% 1271,577 bid,799 1130,908 857,127 2898,595 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,510,000 530,000 2,700,000 640,000 920,000 700,000 500,000 2000,000 430,000 200,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 115,294 28,175 — -- — — 12,380 — 74,739 -- 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 29,785,294 1730,000 6,800,000 1868,175 2670,000 2250,000 1700,000 5500,000 1377,380 650,000 1224,739 915,000 3100,000 \j After deducting $222,480,000 participations of other Federa lReserve Banks. 2/ After deducting $44,928,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis