H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H'4.1 OF THE FEDERAL RESERVE SYSTEM November 5, 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 reserve sfor the week ended November 4 increased $143 million to $18,711 million. Estimated required reserves increased $54 million; and estimated excess reserves increased $89 million to $378 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $448 million, compared with $501 million the week before. The principal changes supplying average reserves were increases of e $180 million in U. S. Government securities bought outright and $121 million held under repurchase agreement, $99 million in gold stock, and $36 million in member bank borrowings, and a decrease of $59 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $252 million ^ ^serve float, and increases of $47 million in money in circulation and $62 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $90 million. As of Wednesday, November 4, holdings of U. S. Government securities bought outright were $189 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $256 million higher, and member bank borrowings were $292 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, November 4, October 28, [November 5, Nov. 4, and related items 1959 1959 1 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,544 +180 +1,164 26,553 Held under repurchase agreement 142 +121 + 63 255 Acceptances— Bought outright 25 + 3 - 11 25 Held under repurchase agreement 1 + 1 + 1 Loans, discounts, and advances-- Member bank borrowings 826 + 36 + 424 638 Other 8 + 1 + 6 8 Float 897 -252 + 101 657 Total Reserve Bank credit 28,443 + 90 +1,749 28,135 Gold stock 19,585 + 99 -l,094 19,585 Treasury currency outstanding 5,299 + 2 + 77 5,301 53,328 +192 + 733 53,021 Money in circulation 31,920^ + 47 + 498 31,971 Treasury cash holdings 4o8/«-f + 12 - 273 413 Treasury deposits with F. R. Banks 471 - 59 + l46 453 Foreign deposits with F. R. Banks 293 - 4 + 10 308 Other deposits with F. R. Banks 397 + 62 + 6 335 Other F. R. accounts (net) 1,127 - ,9 + 49 1,126 34,617 + 49 + 438 34,606 Member bank reserves-- 18,711 +1^3 + 295 18,415 Required reserves (estimated) 18,333 +15 + 325 18,377 Excess reserves (estimated) 378 + 89 - 30 38 011 November 4, 1959, U. S. Government securities held in custody by r5* eral Reserve Banks for foreign account were $4,390 million, a decrease of $210 million for the week an dan increase of $598 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 November 4, October 28. November 5, 1959 1959 1958 A SS E T S Gold certificate account 18,341,641 + 99,998 - 851,251 Redemption fund for F. R. notes 947,997 166 + 60,700 Total gold certificate reserves 19,289,638 + 99,632 - 790,551 F. R. notes of other Banks 430,760 - 46,617 + 109,579 Other cash 384,716 - 2,348 + 16,774 Discounts and advances 645,371 - 291,177 + 142,902 Industrial loans 338 Acceptances--bought outright 24,539 + 2,001 10,623 U. S. Government securities: Bought outright-- Bills 2,551,650 + 188,700 + 1,129,540 Certificates 10,506,993 - - -11,000,298 Notes 11,010,298 +11,000,298 Bonds — W 2,483,771 «• — Total bought outright 26,552,712 + 188,700 + 1,129,540 Held under repurchase agreement 255,600 + 255,600 + 159,800 Total U. S. Government securities 26,808,312 + 444,300 + 1,289,340 Total loans and securities 27,478,222 + 155,124 + 1,421,281 Due from foreign banks 15 -- «• mm Cash items in process of collection 5,292,093 - 2,769 + 469,782 Bank premises 98,383 - 136 + 5,196 Other assets 308,221 + 17,502 + 85,759 TOTAL ASSETS 53,282,048 + 220,588 + 1,317,820 L I A B I L I T I ES Federal Reserve notes ~ ~ 27,603,683 + 97,911 + 519,984 Deposits: Member bank reserves 18,4l4,769 + 11,397 + 133,385 U. S. Treasurer—general account 453,130 - 83,108 + 259,580 Foreign 307,772 - 5,971 + 8,395 Other 334,680 + 7,147 + 2,795 Total deposits 19,510,351 - 70,535 + 404,155 Deferred availability cash items 4,634,982 + 175,268 + 253,450 Other liabilities and accrued dividends 38,286 + 1,283 + 15,685 TOTAL LIABILITIES 51,787,302 + 203,927 + 1,193,274 C A P I T AL A C C O U N TS Capital"paid In™ 384,055 + 202 + 26,553 Surplus 868,410 «• — + 59,215 Other capital accounts 242,281 + 16,459 + 38,778 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,282,048 + 220,588 + 1,317,820 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 40.9# + .1$ 2.6# Contingent liability on acceptances purchased for foreign correspondents 62,644 + 265 10,846 Industrial loan commitments -- 1,019 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 4, 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 sSK. -advanceas Accep tances T sec"uritiIes T Over 5 years to 10 years __ klO rtt 0ver_10 years __ __ 1.099/772 T0tal 645,371 24, 539 26,' 608,' 312 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 NOVEMBER 4, 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 18,341,641 958,759 4,561,859 1141,865 1602,252 1074,286 843,561 3205,847 753,777 368,692 665,755 706,326 2458,662 Redemption fund for F. R. notes 947,997 57,487 207,073 60,309 84,026 83,005 55,808 173,864 44,664 22,786 43,512 30,293 85,170 Total gold certificate reserves 19,289,638 1016,246 4,768,932 1202,174 1686,278 1157,291 899,369 3379,711 798,441 391,478 709,267 736,619 2543,832 F.R. notes of other Banks 430,760 43,086 84,127 32,581 27,772 39,991 52,140 31,709 9,033 33,459 17,756 19,402 39,704 Other cash 384,716 25,736 64,308 21,945 35,697 26,597 3^,705 66,344 20,617 10,564 13,150 15,362 49,691 Discounts and advances 645,371 13,874 141,856 50,853 60,188 19,300 109,017 139,012 16,770 11,870 54,569 18,650 9,412 Acceptances— Bought outright 24,539 24,539 U. S. Govt, securities: Bought outright— Bills 2,551,650 138,337 642,128 145,511 220,917 163,529 134,482 441,569 103,776 58,118 109,989 101,847 291,447 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 26,552,712 1439,555 6,682,043 1514,195 2298,881 1701,710 1399,434 4595,000 1079,899 604,791 1144,555 1059,825 3032,824 Held under repurchase agreement 255.600 «• 255i 600 —— . —— — — —— —— Total U. S. Govt, sees. 26,808,312 1439,555 6,937.643 1514.195 2298,881 1701.710 1399,434 4595.000 1079,899 6o4,791 1144,555 1059,825 3032,824 Total loans & securities 27,478,222 1453,429 7,104,038 1565,048 2359,069 1721,010 1508,451 4734,012 1096,669 616,661 1199,124 1078,475 3042,236 Due from foreign banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Cash items in process of collection 5,292,093 401,163 904,031 327,163 440,179 405,555 432,480 868,888 261,551 156,360 270,070 259,579 565,074 Bank premises 98,383 4,359 10,009 4,074 9,255 6,741 9,702 l4,34l 7,112 5,143 4,650 10,575 12,422 Other assets 308,221 16,565 76.622 17,254 26.960 19,596 17,299 53.124 12.388 6,981 14,043 12,3,23.. 35.066 TOTAL ASSETS 53,282,048 2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,06l 2132,336 6288,026 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 NOVEMBER 4, 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 27,603,683 1570,870 6,443,626 1735,855 2505,835 2105,595 1526,792 5238,677 1218,802 602,944 1101,965 804,281 2748,441 Deposits: Member bank reserves 18,414,769 899,974 4,880,080 941,529 1497,720 776,047 937,931 2864,489 689,190 412,591 800,171 979,750 2735,297 U.S.Treas.-gen.acct. 453,130 25,901 61,533 36,124 39,896 47,489 28,897 48,345 25,130 24,487 38,016 32,765 44,547 Foreign 307,772 16,335 1/93,932 19,602 26,730 14,850 13,959 43,956 10,989 7,128 11,583 15,444 33,264 Other 334,680 352 272,405 3,656 924 3,582 1,258 805 488 278 1,071 1,143 48,718 Total deposits 19,510,351 942,562 5,307,950 1000,911 1565,270 841,968 992,045 2957,595 72$,797 444,484 850,841 1029,102 2861,826 Deferred availability cash items 4,634,982 361,757 842,428 333,486 376,254 349,220 370,506 722,644 202,235 135,543 213,596 221,540 505,773 Other liabilities and accrued dividends 38,286 1,791 11,014 1,994 3,710 2,022 1,911 6,296 1,361 1,091 1,546 1,445 4,105 TOTAL LIABILITIES 51,787,302 2876,980 12,605,018 3072,246 4451,069 3298,805 2881,254 8925,212 2148,195 1184,062 2167,948 2056,368 6120,145 CAPITAL ACCOUNTS Capital paid in 384,055 18,958 110,338 22,787 36,076 17,207 19,933 52,308 12,805 8,742 15,687 22,086 47,128 Surplus 868,410 50,116 238,902 59,607 76,643 44,846 33,746 20,785 32,935 95,761 Other capital accounts 242,281 14,531 57,813 15,600 21,423 15,924 % 4 52 11,066 7,057 11,491 24,992 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,282,048 2960,585 13,012,071 3170,240 4585,211 3376,782 2954,147 9148,131 2205,812 1220,646 2228,061 2132,336 6288,026 Conting. liab. on acceptances purchased for foreign correspondents 62,644 3,449 2/17,500 4,138 5,643 3,135 2,947 9,280 2,320 1,505 2,445 3,260 7,022 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,555,044 1651,260 6,684,462 1780,158 2569,769 2167,610 1589,094 5353,576 1265,773 616,798 1129,317 853,428 2893,799 Collat. for F. R. notes: Gold certificate acct. 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 Eligible paper 121,099 - ~ - - 50,345 -- — - - - -- 16,485 - - 54,269 —- -- U. S. Govt, securities 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 Total collateral 29,791,099 1730,000 6,800,000 1890,345 2670,000 2250,000 1700,000 5500,000 1381,485 650,000 1204,269 915,000 3100,000 1/ After deducting $213,840,000 participations of other Federal Reserve Banks 2/ After deducting $45,144,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis