H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM November 27, 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 reserves for the week ended November 25 decreased $84 million to $18,563 million. Estimated required reserves decreased $53 million; and estimated excess reserves decreased $31 million to $399 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $423 million, compared with $426 million the week before. The principal changes reducing average reserves were decreases of $79 million in U. S. Government securities held under repurchase agreement and $34 million in member bank borrowings, and increases of $93 million in "other" F. R. accounts (net), $37 million in Treasury deposits with Federal Reserve Banks, and $34 million in money in circulation. The principal offsetting changes were increases of $l46 million in Federal Reserve float and $59 million in U. S. Government securities bought outright. Total Reserve Bank credit increased $99 million. As of Wednesday, November 25, holdings of U. S. Government securities bought outright were $120 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $29 million higher, and member bank borrowings were $40 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Nov. 25, Nov. 18, Nov. 26, Nov. 25, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 26,652 + 59 +1,074 26,694 Held under repurchase agreement 30 - 79 - 126 28 Acceptances-- Bought outright 32 + 6 - 4 31 Held under repurchase agreement 3 + 3 3 4 Loans, discounts, and advances— Member bank borrowings 822 - 34 + 394 636 Other 7 - 1 + 5 5 Float l, 311 +146 + 112 1, 022 Total Reserve Bank credit 28,857 + 99 +1; 456 28,420 Gold stock 19,582 - 1 -1,034 19,582 Treasury currency outstanding 5,304 + 1 + 79 5,305 53,743 + 99 + 503 53,306 Money in circulation 32,269 + 34 + 444 32,421 Treasury cash holdings 415 + 1 - 271 409 Treasury deposits with F. R. Banks 515 + 37 + 60 435 Foreign deposits with F. R. Banks 315 + 11 + 72 336 Other deposits with F. R. Banks 369 + 7 + 32 327 Other F. R. accounts (net) 1,297 + 93 + 234 1,238 35,179 +183 + 570 35,167 Member bank reserves-- 18,563 - 84 68 18,140 Required reserves (estimated) 18,164 - 53 - 61 18,121 Excess reserves (estimated) 399 - 31 - 7 19 On November 25, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4, 436 million, an increase of $18 million for the week and an increase of $607 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 RANKS COMBINED (In thousands of dollars) Change since Nov. 25, Nov. 18, Nov. 26, 1959 1959 A S S E TS Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Cash items in process of collection Bank premises Other assets TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments ov lJV DC . 18,324,641 19,001 784,253 967,704 + 14,969 + 57,225 19,292,345 - 4,032 - 727,028 324,749 - 47,853 + 36,670 358,026 - 6,602 + 27,053 640,558 - 42,4o8 - 407,976 — -- - 337 30,512 + 4,969 - 3,817 4,311 + 4,311 + 4,311 2,692,530 + 119,500 4 1,031,380 10,506,993 -- -11,000,298 11,010,298 +11,000,298 2,483,771 - - - - 26,693,592 + 119,500 + 1,031,300 28,750 + 28,750 ~ 104,050 26,722,342 + 148, 250 + 927,330 27,397,723 + H5,122 + 519,511 15 — — — 5,578,863 -1,234,738 + 294,924 99,345 - 237 + 6,000 186,059 + 19,079 - 72,275 53,237,125 -1,159,261 + 84,855 27,919,099 + 157,274 + 414,931 18,139,632 292,458 789,679 435,422 - 138,988 - 4o, 640 336,220 + 14,686 + 121,004 326,695 - 28,517 - 9,561 19,237,969 - 445,277 - 718,876 4,556,518 - 824,403 + 252,426 42,132 + 2,027 + 17,054 51,755,718 -1,110,379 - 34,465 384,718 + 133 + 26,595 868,410 a* •» + 59,215 228,279 - 49,015 + 33,510 53,237,125 1,159,261 + 84,855 40.9# + .2 <fo - 1.3# 70,417 + 1,537 4,754 -- -- - 1,015 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 25, 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 624,036 11,219 450,410 16 days to 90 days 15,842 23,604 7,325,073 91 days to 1 year 680 10,952,790 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 410,385 Over 10 years 1,059,772 Digitized for FRASER http://fraser.stloTuiosfteadl.o rg/ 640,558 3%T523 26,722,342 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OM NOVEMBER 25, 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 18,324,641 864,866 4,589,250 1047,800 1622,278 1070,632 876,769 3289,407 759,612 336,363 649,505 702,501 2515,658 Redemption fund for F. R. notes 967,704 60,117 215,327 61,701 84,425 81,252 60,275 178,185 44,476 23,610 43,360 30,178 84,798 Total gold certificate reserves 19,292,345 924,983 4,804,577 1109,501 1706,703 1151,884 937,044 3467,592 8o4,o88 359,973 692,865 732,679 2600,456 28,806 F.R. notes of other Banks 324,749 19,606 57,353 17,783 15,882 33,655 50,392 24,912 10,751 23,563 17,735 24,311 Other cash 358,026 19,926 58,215 24,251 33,407 21,748 28,512 64,259 21,402 10,541 13,659 16,534 45,572 Discounts and advances 640,558 28,367 58,795 23,740 40,510 61,425 134,665 72,631 15,910 43,376 113,314 12,465 35,360 Acceptances: Bought outright 30,512 -- 30,512 - - - - — - Held under rep. agree. 4,311 4,311 - - -- -- U. S. Govt, securities: Bought outright— Bills 2,692,530 145,975 677,581 153,545 233,114 172,558 141,907 465,949 109,505 61,327 116,061 107,470 307,538 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 1257,585 107,063 Bonds 2,483,771 134,658 625,046 141,639 215,040 159,180 130,905 429,821 101,015 56,573 99,137 283,694 Total 26,693,592 1447,193 6,717,496 1522,229 2311,078 1710,739 1406,859 4619,380 1085,62b 608,000 1150,627 1065,448 3048,915 Held under rep. agree. 28,750 28,750 Total U. S. Govt, sees. 26,722,342 1447,193 6,746,246 1522,229 2311,078 1710,739 l4c6,859 4619,380 1085,628 608,000 1150,627 1065,448 3048,915 Total loans & securities 27,397,723 1475,560 6,839,864 1545,969 2351,588 1772,164 1541,524 4692,011 1101,538 651,376 1263,941 1077,913 3084,275 Due from foreign hanks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Cash items in process of collection 5,578,863 414,823 1,064,740 352,278 458,264 422,797 446,794 888,763 245,469 149,201 281,919 285,466 568,349 Bank premises 99,345 4,324 10,010 4,052 9,276 6,703 9,677 15,026 7,112 5,113 4,650 11,033 12,369 Other assets 186,059 10,094 45,844 10,236 16,381 11,906 10,888 31,346 7,378 4,247 8,807 7,655 21,277 2869,317 12,880,607 TOTAL ASSETS 53,237,125 3064,071 4591,502 3420,858 3024,832 9183,911 2197,739 1204,014 2283,577 2155,592 6361,105 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

Phila- Cleve- 1 St. Minne- Kansas San Total Boston New York aelr>hia land [Richmond Atlanta Chicago Louis apolis City Da-Has Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,919,099 1594,745 6,543,622 1776,816 2530,281 2114,658 1560,417 5283,213 1232,409 6o4,l68 1106,794 807,806 2764,170 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 18,139,632 768,724 4,711,137 854,961 1494,161 811,887 966,980 2806,913 675,316 412,620 854,526 980,643 2801,764 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 435,422 32,659 67,330 22,479 28,359 42,653 22,900 68,216 25,979 18,444 31,027 28,279 47,097 UUUUU.....88888.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 336,220 18,150 1/98,620 21,780 29,700 16,500 15,510 48,840 12,210 7,920 12,870 17,160 36,960 ..... FFFFFooooorrrrreeeeeiiiiigggggnnnnn 326,695 2,104 "266,819 2,961 695 3,058 912 923 779 388 738 691 46,627 OOOOOttttthhhhheeeeerrrrr TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,237,969 821,637 5,143,906 902,181 1552,915 874,098 1006,302 2924,892 714,284 439,372 899,161 1026,773 2932,448 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 4,556,518 368,039 778,932 285,779 371,314 352,599 383,910 748,806 192,338 122,982 216,133 243,232 492,454 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 42,132 1,981 10,813 2,101 3,980 2,437 2,147 6,644 1,608 1,269 1,902 1,938 5,312 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,755,718 2786,402 12,477,273 2966,877 4458,490 3343,792 2952,776 8963,555 2140,639 1167,791 2223,990 2079,749 6194,384 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 384,718 18,958 110,254 22,799 36,153 17,216 19,934 52,403 12,840 8,751 15,775 22,172 47,463 868,410 50,116 238,902 59,607 76,643 44,846 39,474 132,159 33,746 20,785 32,935 43,436 95,761 SSSSSuuuuurrrrrpppppllllluuuuusssss 228,279 13,841 54,178 14,788 20,216 15,004 12,648 35,794 10,514 6,687 10,877 10,235 23,497 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD 53,237,125 2869,317 12,880,607 3064,071 4591,502 3420,858 3024,832 9183,911 2197,739 1204,014 2283,577 2155,592 6361,105 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr 70,417 3,872 2/19,729 4,646 6,336 3,520 3,309 10,419 2,605 1,690 2,745 3,661 7,885 fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,842,775 1666,437 6,807,405 1815,794 2577,398 2175,764 1626,479 5392,040 1282,046 615,132 1137,587 858,431 2888,262 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,490,000 530,000 2,700,000 64o,coo 920,000 700,000 500,000 2000,000 430,000 180,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 152,129 23,410 — — — - 15,725 — 112,994 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 19,260,000 1200,000 4,200,000 1200,000 1750,000 1550,000 i2co,ooo 3500,000 935,000 450,000 850,000 625,000 1800,000 TToottaall ccoollllaatteerraall 29,902,129 1730,000 6,900,000 1863,410 2670,000 2250,000 1700,000 5500,000 1380,725 630,000 1262,994 915,000 3100,000 1/ After deducting $237,600,000 participations of other Federal Reserve Banks. 2/ After deducting $50,688,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ir