H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD-OF GOVERNORS For Iamediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM November 12, 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 November 11 increased $13 million to $18,724 million. Estimated required reserves decreased $8l million; and estimated excess reserves increased $94 million to $^72 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $436 million, compared with $448 million the week before. The principal changes supplying average reserves were increases of $82 million in member ban kborrowings, $77 million in Federal Reserve holdings of U. S, Government securities, and $50 million in Federal Reserve float• The principal offsetting changes were increases of $185 million in money in circulation and $20 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $208 million. As of Wednesday, November 11, holding sof U. S. Government securities bought outright were $50 million higher than a week earlier, U, S. Government securities held under repurchase agreement were $80 million lower, and member bank borrowings were $138 million lower. Averages of daily figures Member "bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 11, Nov. 4, Nov . 12, Nov. 11, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,574 + 30 + 960 26,602 Held under repurchase agreement 189 + 47 + 143 176 Acceptances-- Bought outright 26 + 1 - 9 26 Held under repurchase agreement - 1 - - -- — — Loans, discounts, and advances-- Member bank borrowings 908 + 82 + 439 500 Other 8 mm mm + 6 9 Float 947 + 50 + 13 1,314 Total Reserve Bank credit 28,651 +208 +1)5 51 28,626 Gold stock 19,585 — — -1,067 19,585 Treasury currency outstanding 5,301 + 2 4- 76 5,301 53,537 +209 + 560 53,512 Money in circulation 32,105 +185 + 445 32,200 Treasury cash holdings 4l4 + 6 - 273 4o6 Treasury deposits with F. R. Banks 458 - 13 + 87 492 Foreign deposits with F. R. Banks 313 + 20 + 16 320 Other deposits with F. R. Banks 396 - 1 + 21 917 OOtthheerr FF.. RR.. aaccccoouunntt ss((nneett)) 1,128 + 1 + 50 1,127 3%,813 +196 + 346 35,462 Member bank reserves-- 18,72k + 13 + 214 18,050 Required reserves (estimated) 18,252 - 8l + 361 18,201 Excess reserves (estimated) kj2 + 94 - 147 - 151 On November 11, 1959, U. S. Government securities held in custody by "^Federal Reserve Banks for foreign account were $4,389 million, a decrease of $1 mil 1i o nfor the week and an increase of $537 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 Nov. 11, Nov. h, Nov. 12, 1959 1959 1958 A S S E TS Gold certificate account 18,348,642 + 7,001 - 849,250 Redemption fund for F. R. notes 947,84l - 156 + 57,893 Total gold certificate reserves 19,296,483 + 6,845 - 791,357 F. R. notes of other Banks 359,610 - 71,150 + 67,449 Other cash 363,889 - 20,827 + 16,517 Discounts and advances 508,879 - 136,492 + 133,461 Industrial loans mm mm — mm 338 Acceptances--"bought outright 25,540 + 1, 001 - 77,,778833 U. S. Government securities: Bought outright-- Bills 2,601,150 + 49, 500 + 1,159,000 Certificates 10,506,993 «. — -11,000,298 Notes 11,010,298 — — +11,000,298 Bonds 2,483,771 — — — — Total bought outright 26,602,212 + 49, 500 + 1,159,000 Held under repurchase agreement 175,500 - 80,100 + 173,500 Total U. S. Government securities 26,777,712 - 30,600 4- 1, 332, 500 Total loans and securities 27,312,131 166,091 + 1,457,840 Due from foreign banks 15 -» -» mm mm Cash items in process of collection 5,505,694 + 213,601 + 411,039 Bank premises 98,850 + 467 + 5,564 Other assets 326,110 + 17,889 + 91,837 TOTAL ASSETS 53,262,782 19,266 + l, 258,889 - L I A B I L I T I ES Federal Reserve notes 2277,,773399,,993344 + 113366,,225511 + 447744,,004466 Deposits: Member bank reserves 18,050,167 - 364,602 + 257,846 U. S. Treasurer—general account 491,505 + 38,375 - 4,975 Foreign 320,058 + 12,286 + 32,547 Other 916,892 + 582, 212 + 596,543 Total deposits 19,778,622 + 268,271 + 881,961 Deferred availability cash items 4,191,893 - 443,089 - 245,521 Other liabilities and accrued dividends 39,815 + 1,529 + 16,104 TOTAL LIABILITIES 51,750, 264 37,038 + l, 126,590 - C A P I T AL A C C O U N TS Capital paid in 384,549 + 494 + 26,853 Surplus 868,410 mm + 59,215 Other capital accounts 259,559 + 17,278 4- 46,231 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,262,782 - 19, 266 + l, 258,889 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 4o.6$ - ••33%% 2.9# Contingent liability on acceptances purchased for foreign correspondents 63,404 + 760 - 14,301 Industrial loan commitments 1,015 -- -- - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 11, 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 488,132 7,309 5,491,800 16 days to 90 days 20, 494 18, 231 1,888, 450 91 days to 1 year 253 11,403,393 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 4l0,385 Over 10 years 1,059,772 Total 508,879 25,540 26,777,712 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH NOVEMBER 11, 1959 Total Boston | New York Phila- Cleve- Richmcnd Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 18,3^8,642 882,340 4,320,109 1071,637 1535,309 1119,795 906,057 3296,737 807,530 4o4,161 703,676 736,051 2565,240 Redemption fund for F. R. notes 947,841 60,322 206,342 60,052 83,757 82,290 55,563 173,555 44,581 22,702 43, 44l 30, 234 85,002 Total gold certificate reserves 19,296,483 942,662 4,526,451 1131,689 1619,066 1202,085 961,620 3470,292 852, 111 426,863 747,117 766,285 2650,242 F.R. notes of other Banks 359,610 28,546 64,401 27,064 19,036 40,025 47,624 22,978 7,961 27,907 19,378 19,735 34,955 Other cash 363,889 23,485 60,911 22,218 34, 459 22, 590 32,778 62,515 19,505 9,793 12,972 15, 238 47,425 Discounts and advances 508,879 17,929 49,036 13,639 80,413 34,004 88,659 114,642 7,147 6,754 12,380 9,152 15,124 Acceptances— Bought outright 25,540 -- 25,540 - - - - " - - -- -- U. S. Govt, securities: Bought outright-- Bills 2,601,150 l4l,021 654,585 148,334 225,202 166,701 137,091 450,135 105,789 59,246 112,122 103,823 297,101 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, o4o 159,180 130,905 429,821 101,015 56,573 107,063 99,137 283,694 Total 26,602,212 1442,239 6,694,500 1517,018 2303,166 1704,882 1402,043 4603,566 1061,912 605,919 1146,688 1061,801 3038,478 Held under repurchase agreement 175,500 «•» — 175,500 — — mm ** mm w w * * Total U. S. Govt, sees. 26,777,712 1442,239 6,870,000 1517,018 2303,166 1704,882 1402,043 4603,566 1081,912 605,919 1146,688 1061,801 3038,478 Total loans & securities 27,312,131 l46o,168 6,944,576 1530,657 2383,579 1738,886 1490,702 4718,208 1089,059 612,673 1219,068 1070,953 3053,602 Due frcm foreign "banks 15 1 1/ 4 1 1 l 1 2 1 2/ 1 1 1 Cash items in process of collection 5,505,694 364,874 924,152 322,269 380,272 455,975 583,523 752,020 285,960 199,811 269,198 331,575 636,065 Bank premises 98,850 4,359 10,009 4,074 9,265 6,748 9,702 14,341 7,112 5,143 4,650 11,025 12,422 Other assets 326,110 17,669 81,oil 18,241 28,302 20,799 18,240 56,527 13,042 7,340 14,848 13,067 37,024 TOTAL ASSETS 53,262,782 2841,764 12,611,515 3056,213 4473,980 3487,109 3144,190 9096,883 2274,751 1289,530 2287,232 2227,879 6471,736 1 l/ 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) tiltiTi'JIVWJ-UP UUHUITIUIN Ut iiiM-Vti i! JMJilijKRJ LX.VDQJMAV ill nmN J(XJIM lNUVJUXlDE- nJ—L, Phila- Cleve- . ._ . . St. Minne- Kansas San A Total Boston Nev York Delphia lend Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,739,934 1582,912 6,477,370 1749,630 2514,361 2107,111 1536,630 5270,278 1226,304 604,300 1108,117 807,585 2755,336 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,050,167 793,156 4,617,088 889,410 1438,689 836,832 896,896 2871,023 707,601 420,229 804,212 955,402 2819,629 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 491,505 14,648 65,000 22,993 31,116 46,227 50,417 54,804 23,214 33,097 4l,l6o 31,227 77,602 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 320,058 17,325 1/93,258 20,790 28,350 15,750 14,805 46,620 11,655 7,560 12,285 16,380 35,280 OOOOOttttthhhhheeeeerrrrr 916,892 659 "257,536 2,652 1.156 34,173 181,284 829 51,094 55,481 38,569 120,856 172,603 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,778,622 825,788 5,032,882 935,845 1499,311 932,982 1143,402 2973,276 793,564 516,367 896,226 1123,865 3105,114 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,191,893 346,675 678,841 269,718 320,981 365,649 388,354 620,956 195,083 130,648 220,244 218,115 436,629 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 39,815 1,933 10,710 2,063 3,722 2,310 2,006 6,352 1,518 1,239 1,780 1,606 4,576 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,750,264 2757,308 12,199,803 2957,256 4338,375 3408,052 3070,392 8870,862 2216,469 1252,554 2226,367 2151,171 6301,655 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 384,549 18,962 110,343 22,787 36,082 17,219 19,932 52,354 12,839 8,748 15,688 22,170 47,425 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 259,559 15,378 62,467 16,563 22,880 16,992 14,392 41,508 11,697 7,443 12,242 11,102 26,895 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,262,782 2841,764 12,611,515 3056,213 4473,980 3487,109 3144,190 9096,883 2274,751 1289,530 2287,232 2227,879 6471,736 _ CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 63,404 3,487 2/17,756 4,184 5,706 3,170 2,980 9,383 2,346 1,521 2,473 3,297 7,101 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,665,889 1660,394 6,705,067 1793,599 2575,561 2171,386 1609,074 5371,038 1274,595 617,060 1136,090 657,457 2094,560 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 91,931 13,065 -- -- -- -- 6,825 -- 72, o4i 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 29,761,931 1730,000 6,800,000 1853,065 2670,000 2250,000 1700,000 5500,000 1371,825 650,000 1222,041 915,000 3100,000 I f — —o t —— ? jt— — JC — - 2/ After deducting $45,648,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis