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 19, 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 tank reserves for the week ended November 18 decreased $77 million to $18,647 million. Estimated required reserves decreased $12 million; and estimated excess reserves decreased $65 million to $430 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $426 million, compared with $413 million the week before. The principal changes reducing average reserves were decreases of $80 million in U. S. Government securities held under repurchase agreement and $52 million in member bank borrowings ,and increases of $130 million in money in circulation and $76 million in "other" F. R. accounts (net). The principal offsetting changes were an increase of $218 million in Federal Reserve float and a decrease of $34 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $107 million. As of Wednesday, November 18, holdings of U. S. Government securities bought outright were $28 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $176 million lower, and member bank borrowings were $176 million higher. Averages of daily figures MMeemmbbeerr bbaannkk rreesseerrvveess,, Week ended Change from week ended WWeeddnneessddaayy RReesseerrvvee BBaannkk ccrreeddiitt,, Nov. 18, Nov. 11, :1 Nov. 19, NNoovv.. 1188,, aanndd rreellaatteedd iitteemmss 1959 1959 1 1958 11995599 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,593 + 19 +1 ,201 26, 574 Held under repurchase agreement 109 - 80 + 90 — Acceptances--bought outright 26 8 26 - - - Loans, discounts, and advances-- Member bank borrowings 856 - 52 + 405 676 Other 8 — — + 6 7 Float 1,165 +218 - 23 1,433 Total Reserve Bank credit 28,758 +107 +1,671 28,715 Gold stock 19,583 - 2 -1,097 19,583 Treasury currency outstanding 5,303, + 2 + 78 5,303 53,644 +107 + 652 53,601 Money in circulation 32,235 +130 + 481 32,198 Treasury cash holdings 4l4 278 4l6 -- - Treasury deposits with F. R. Banks 478 + 20 + 3 574 Foreign deposits with F. R. Banks 304 - 9 - 12 322 Other deposits with F. R. Banks 362 - 34 + 21 355 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,204 + 76 + 130 1,304 34,996 +183 + 344 35,169 Member bank reserves-- 18,647 - 77 + 307 18,432 Required reserves (estimated) 18,217 - 12 + 317 18,262 Excess reserves (estimated) 430 - 65 10 170 - On November 18, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4, 4l8 million, an increase of $29 million for the week and an increase of $597 raiHi on 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 OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Nov. 18, Nov. 11, NOV. 19; 1959 1959 1958 A S S E TS Gold certificate account 18,343,642 - 5,000 - 832,252 Redemption fund for F. R. notes 952,735 + 4,894 + 59,152 Total gold certificate reserves 19,296,377 - 106 - 773,100 F. R. notes of other Banks 372,602 + 12,992 + 47,261 Other cash 364,628 + 739 + 10,634 Discounts and advances 682,966 + 174,087 + 123,383 Industrial loans -- -- - 337 Acceptances—bought outright 25,543 + 3 - 7,786 U. S. Government securities: Bought outright— Bills 2,573,030 - 28,120 + 1,173,380 Certificates 10,506,993 - - -11,000,298 Notes 11,010,298 — — +11,000,298 Bonds 2,483,771 — — Total bought outright 26,574,092 - 28,120 + 1,173,380 Held under repurchase agreement - 175,500 - 47,000 Total U. S. Government securities 26,574,092 - 203,620 1,126,380 Total loans and securities 27,282,601 - 29,530 + 1,241,640 Due from foreign banks 15 — — Cash items in process of collection 6,813,601 +1,307,907 + 616,399 Bank premises 99,582 + 732 + 6,244 Other assets 166,980 - 159,130 - 79,784 TOTAL ASSETS 54,396,386 +1,133,604 + 1,069,294 L I A B I L I TI E. S FedSral Reserve notes 27,761,825 + 21,891 493,023 Deposits: Member bank reserves 18,432,090 + 381,923 226,826 U. S. Treasurer—general account 574,410 + 82,905 + 183,862 Foreign 321,534 + 1,476 + 4,340 Other 355,212 - 561,680 + 3,840 Total deposits 19,683,246 - 95,376 - 34,784 Deferred availability cash items 5,380,921 +1,189,028 + 455,001 Other liabilities and accrued dividends 40,105 + 290 + 15,763 TOTAL LIABILITIES 52,866,097 +1,115,833 929,003 C A P I T AL A C C O U N TS Capital paid in" 384,585 + 36 + 26,805 Surplus 868,4l0 — - + 59,215 Other capital accounts 277,294 + 17,735 + 54,271 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54,396,386 +1,133,604 + 1,069,294 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 40.7 $ + .1# 2.0$ - Contingent liability on acceptances purchased for foreign correspondents 68,880 + 5,476 5,743 Industrial loan commitments -- -- - 1,015 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 18, 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 667,533 7,556 513,610 16 days to 90 days 15,330 17,987 7,178,623 91 days to 1 year 103 10,887,790 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Total 25,543 26,574,092 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAUK OK NOVEMBER X8, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 18,343,642 932,412 4,627,898 1054,952 1560,295 1072,625 831,992 3221,566 748,190 368,704 683,123 739,060 2502, 825 Redemption fund for F. R. notes 952,735 60,320 206,325 60,049 83,747 82,272 60,554 173,541 44,568 22,700 43,436 30,230 84,993 Total gold certificate reserves 19,296,377 992,732 4,834,223 1115,001 1644,042 1154,897 892,546 3395,107 792,758 391,404 726,559 769,290 2587,818 E-R. notes of other Banks 372,602 26,173 78,256 28,500 18,963 36,513 48,299 26,929 9,527 24,468 18,202 19,188 37,584 Other cash 364,628 21,938 62,585 24,429 32,912 20,838 30,147 64,539 20,534 10,755 13,174 14,580 48,197 Discounts and advances 682,966 19,819 78,761 23,157 82,093 38,944 119,015 176,016 14,748 43,860 62,955 11,098 12,500 -Acceptances— .Sought outright 25,543 25,543 •» — mm mm -»— — — •» —' — «* mm e» mm mm U. S. "Govt. securities: Bought outright— 2,573,030 139,496 647,509 146,730 222,768 164,900 135,609 445,269 104,645 58,605 110,910 102,700 293,889 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 Noshes 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 26,574,092 1440,714 6,607,424 1515,414 2300,732 1703,001 1400,5&1 4598,700 1000,768 605,270 1145, 476 1060,670 3035,266 S eM under repurchase agreement Total U. S. Govt, sees. 26,574,092 l44o,7l4 6,687,424 1515,414 2300,732 1703,081 l4oo,56l 4598,700 1080,768 605,278 1145,476 1060,678 3035,266 Total loans & securities 27,282,601 1460,533 6,791,728 1538,571 2382,825 1742,025 1519,576 4774,716 1095,516 649,138 1208,431 1071,776 3047,766 Due from foreign banks 15 1 1 /4 1 1 1 12 1 2/ 1 11 Cash items in process of collection 6,813,601 505,976 1,307,520 427,966 574,248 518,031 542,340 1100,957 308,896 177,727 333,616 318,256 698,068 Bank premises 99,582 4,359 10,010 4,074 9,269 6,748 9,702 15,064 7,112 5,147 4,650 11,025 12,422 Other assets 166,980 9,041 4l, 480 9,188 14,445 10,521 9,864 28,014 6,603 3,773 7,976 6,947 19,128 TOTAL ASSETS 54,396,386 3020,753 13,125,806 3147,730 4676,705 3489,574 3052,475 9405,328 2240,947 1262,412 2312,609 2211,063 6450,984 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

2.4.1(c) STATEMENT OP CONDITION OF EACH FEDERA , RESERVE BANK ON NOVEMBER iff, 1959 Total Boston New York P d h e i l l p a h - ia Cl l e a v n e d - . Richmond Atlanta Chicago L S o t ui . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fran S c a i n s co (In thousands of dollars) L I A B I L I T I ES FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,761,825 1587,154 6,489,825 1757,356 2520,269 2104,587 1544,133 5264,787 1228,681 604,178 1106,076 807,210 2747,569 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 866,204 4,851,850 888,222 1474,710 819,234 924,841 2917,599 681,602 419,252 826,855 999,625 2762,096 MMMMMeeeeemmmmmbbbbbeeeeerrrrr hhhhhaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,432,090 UUUUU.....88888.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 574,410 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 321,534 X a t l lo 2$ 1 'M OOOOOttttthhhhheeeeerrrrr 355,212 859 "297,078 1,846 711 2,909 1,054 1,645 838 322 2,515 821 44,6l4 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,683,246 920,600 5,334,505 942,287 1546,617 894,508 967,904 3045,974 710,339 470,917 879,212 1050,950 2919,433 | DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 425,712 874,814 346,075 469,053 408,231 463,708 858,707 241,526 148,381 264,054 273,747 606,913 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 5,380,921 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 40,105 1,955 10,300 2,063 3,558 2,202 1,992 6,619 1,511 1,590 1,646 1,800 4,869 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 52,866,097 2935^421 12,709,444 3047,78l 4539,497 3409,520 2977,737 9176,007 2102,057 1225,066 2250,900 2133,707 6270,704 ^ CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 384,585 IS 11 IS IS m IS IS ii 1 1si 11 SSSSSuuuuurrrrrpppppllllluuuuusssss 868,410 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 277,294 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAAMMMMMDDDDD 3020,753 13,125,806 3147,730 4676,705 3489,574 3052,475 9405,328 2240,947 1262,412 2312,609 2211,063 6450,984 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 54,396,386 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 68,880 3.790 2/19.272 4.547 6.201 3.445 3,238 10,197 2,549 1.654 2,687 3,583 7,717_ FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,734,595 1660,003 6,739,258 1809,414 2579,795 2171,235 1609,792 5384,274 1271,139 615,932 1140,407 056,355 2096,991 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 99,909 22,715 — — — — 14,500 — 62,694 — " UU.. SS.. GGoovvtt,, sseeccuurriittiieess 19,260,000 1200,000 4,200,000 1200,000 1750,000 1550,000 1200,000 3500,000 935,000 450,000 850,000 625,000 1800,000 TToottaall ccoollllaatteerraall 29,869,909 1730,000 6,900,000 1862,715 2670,000 2250,000 1700,000 5500,000 1379,500 650,000 1212,694 915,000 3100,000 1/ After deducting $228,96 0,000 part:ic ipations of other Federal Reserve Banks, 2j After deducting $49,6 08,000 part:ic ipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis