H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM December 10, 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 total member bank reserves held during the week ended December 9 increased $314 million to $18,754 million ,reflecting an increase of $133 million in member ban kreserve balances at th eFederal Reserve Banks and an estimated increase of $181 million in currency and coin that member banks were permitted to count as reserves ,beginning December 1 for country banks and December 3 for central reserve city and reserve city banks. Estimated required reserves increased $14-5 million; and estimated excess reserves increased $169 million to $545 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $366 million, compared with $494 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were increases of $287 million in U. S. Government securities bought outright and $36 million held under repurchase agreement, and $4l million in member bank borrowings, and a decrease of $60 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $157 million in meaoy in circulatio nand decreases of $83 million in Federal Reserve float and $63(million in gold stock. Total Reserve Bank credit increased $286 million. As of Wednesday, December 9, holdings of U. S. Government securities bought outright were $109 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $22 million higher and member bank borrowings were $4l million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 9, Dec. 2, Dec. 10, Dec. 9, and related items 1959 1959 1958 1959 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 27,130 +287 + 880 27,153 Held under repurchase agreement 64 + 36 + 32 49 Acceptances- Bought outright + 5 37 37 Held under repurchase agreement 3 + 3 4 - - Loans, discounts, and advances-- Member bank borrowings 911 + 4i + 497 575 Other 5 - - + 3 5 Float 1,003 - 83 109 824 - Total Reserve Bank credit 29,153 +255 +1,306 28,648 Gold stock 19,505 - 63 -1,088 19,504 Treasury currency outstanding 5,310 + 4 4- 81 5,310 53,967 +225 + 297 53,462 Currency in circulation 32,601 +157 + 383 32,721 Treasury cash holdings 405 - 7 - 291 4ll Treasury deposits with F. R. Banks 487 - 60 + 111 427 Foreign deposits with F. R. Banks 362 + 15 4" 130 340 Other deposits with F. R. Banks 338 - 17 + 10 347 Other F. R. account s(net) 1,244 + 3 + 53 1,244 35,438 + 92 + 398 35,491 Member bank reserves: With Federal Reserve Banks 18,529 +133 •» 100 17,971 Cash allowed as reserves (estimated) 225 +181 + 225 225 Total reserves held 18,754 +314 + 125 18,196 Required reserves (estimated) 18,209 +145 + 49 18,189 Excess reserves (estimated) +169 545 76 7 On December 9, 1959, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,402 million, a decrease of $14 million for the week and an increase of $554 million from the comparable date Digitizead foyr eFRaArS EaRg o. 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 Dec. 9, Dec. 2, Dec. 10, 1959 1959 1958 A S S E TS Gold certificate""account 18,246,644 - 61,998 834,249 Redemption fund for F. R. notes 970,557 + 1,999 + 51,898 Total gold certificate reserves 19,217,201 59,999 - 762,351 F. R. notes of other Banks 337,719 - 14,051 + 16,168 Other cash 329,620 - 19,069 + 27,218 Discounts and advances 580,429 - 40,850 + 125,559 Industrial loans «•» <m e» m • 333377 Acceptances: Bought outright 36,504 + 2,980 305 Held under repurchase agreement 4,421 + 663333 + 44,,442211 U. S. Government securities: Bought outright— Bills 3,152,105 + 108,700 + 906,555 Certificates 10,506,993 W SB -8,, 142,733 Notes 11,010,298 «• <a» +8,142,733 Bonds 2,483,771 Total bought outright 27,153,167 + 108,700 + 906,555 Held under repurchase agreement 49,000 + 21,600 + 41,000 Total U. S. Government securities 27,202,167 + 130,300 + 947,555 Total loans and securities 27,823,521 + 93,063 +1,077, 503 Due from foreign banks 15 — «• Cash items in process of collection 5,012,743 - 671,365 + 92,823 Bank premises 99,154 16 5,492 Other assets 223,719 + 18,640 + 89,859 TOTAL ASSETS 53,043,692 - 652,765 + 526,712 L I A B I L I T I ES Federal Reserve notes 28,202,504 + 220099,,558899 + 440000,,337700 Deposits: Member bank reserves 17,971,101 - 235,397 - 405,168 U. S. Treasurer—general account 427,438 - 173,960 • 9,931 Foreign 340,016 + 21,791 + 109,688 Other 347,242 4,455 + 20,421 Total deposits 19,085,797 - 383,111 W 284,990 Deferred availability cash items 4,188,282 • 500,358 + 262,272 Other liabilities and accrued dividends 47,270 + 1,845 + 13,153 TOTAL LIABILITIES 51,523,853 - 672,035 + 390,805 C A P I T AL A C C O U N TS Capital paid in 385,066 + 119 + 25,434 Surplus 868,4l0 — • + 59,215 Other capital accounts 266,363 + 19,151 + 51,258 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,043,692 - 652,765 + 526,712 Ratio of gold certificate reserves to deposit and F. R. note liabilitie scombined 40.6# «• <• 1.8# Contingent liability on acceptances purchased for foreign correspondents 80,253 + 8,828 + 6,252 Industrial loan commitments -- 995 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 9, 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 567,744 11,024 363,400 16 days to 90 days 12,633 29,901 7,794,433 91 days to 1 year 2 11,050,26-5 5 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 Total 560,429 40,925 27,202,167 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDIT]C ON OF EACH FEDERAL RESERVE BANK ON DECEMBER 9, 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 18,246,644 899,44l 4,865,209 1049,029 1554,990 1063,511 910,278 3157,603 757,4?4 355,645 650,220 664,682 2318,562 Redemption fund for F. R. notes 970,557 60,112 215,299 61,698 86,417 81,227 60,257 178,160 44,469 23,609 43,356 31,170 84,783 Total gold certificate reserves 19,217,201 959,553 5,080,508 1110,727 1641,407 1144,738 970,535 3335,763 801,943 379,254 693,576 695,852 2403,345 F.R. notes of other Banks 337,719 20,577 73,050 18,740 14,754 37,710 47,453 25,708 8,957 17,542 17,227 22,022 33,979 Other cash 329,620 17,767 53,497 20,012 29,132 20,703 25,367 61,039 19,981 10,646 12,946 15,545 42,985 Discounts and advances 580,429 24,084 39,120 24,430 57,260 40,584 123,290 137,251 15,385 11,870 92,230 8,965 5,960 Acceptances: Bought outright 36,504 36,504 Held under rep. agree. 4,421 4,421 U. S. Govt, securities: Bought outright— Bills 3,152,105 170,891 793,234 179,752 272,903 202,011 166,129 545,479 128,196 71,795 135,871 125,813 360,031 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 1 r- 3 f 4 , v 6 5 ^ 8 —, 6 r- 2 r 5 - , v 0 4 , 6 ~.141,639 215,040 1 5Z&d>180 130,905 429,82 1— ^101,015 5 6s.573 1i0v7 ,f0-6"3 1 1 y9y9j .717317i 2f8-3v,.6i9t4 "7^ Total 27,153,167 1472,109 6,833,149 1548,436 2350,867 1740,192 1431,081 4698,910 1104,319 618,468 1170,437 1083,791 3101,408 Held under rep. agree. 49,000 Total U. S. Govt, sees. 27,202,167 1472,109 6,882,149 1548,436 2350,867 1740,192 1431,081 4698,910 1104.319 618.468 1170.437 1083.791 3101.4o8 Total loans & securities 27,823,521 1496,193 6,962,194 1572,866 2408,127 1780,7761 554,371 4836,161 1119,704 630,338 1262,667 1092,756 3107,368 Due from foreign hanks 15 1 1 /4 l l 1 12 1 2/ 1 1 1 Cash items in process of collection 5,012,743 359,024 911,840 307,537 402,321 411,726 427,002 794,766 2k),569 148,242 250,979 233,884 524,853 Bank premises 99,154 4,324 9,971 4,052 9,207 6,703 9,661 15,051 7,074 5,087 4,636 11,019 12,369 Other assets 223,719 12,191 55,282 12,462 19,689 14,231 12.878 38,024 8.956 5.089 10.469 8,997 25.451 TOTAL ASSETS 53,043,692 2869,630 13,146,346 3046,397 4524,638 34l6,588 3047,268 9106,514 2207,185 1196,198 2252,501 2080,076 6150,351 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 i

E.4,1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 9, 1959 ^ ^ , I Phila- Cleve- . , , , 1 , St. Minne- Kansas San Total Boston New York j (3_elphia land Richmond Atlanta | Chi cago Louis apolis City Dallas Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 28,202,504 1615,626 6,595,992 1793,845 2567,757 2138,039 1593,002 5317,840 1249,459 609,272 1121,174 817,792 2782,706 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 17,971,101 779,451 4,989,287 847,510 1400,894 795,744 964,039 2787,828 667,222 395,139 810,834 925,090 2608,063 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 427,438 36,744 54,631 25,333 35,392 40,424 28,835 37,170 28,357 21,905 40,935 36,201 41,511 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 340,016 18,480 1/98,096 22,176 30,240 16,800 15,792 49,728 12,432 8,064 13,104 17,472 37,632 OOOOOttttthhhhheeeeerrrrr 347,242 472 288,837 2,021 1,188 3,048 1,402 1,226 491 256 1,412 962 45,927 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,085,797 835,147 5,430,851 897,040 1467,714 856,016 1010,068 2875,952 708,502 425,364 866,285 979,725 2733,133 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,188,282 331,486 693,687 253,712 348,541 340,293 367,719 677,842 188,872 122,683 201,742 203,273 458,432 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 47,270 2,341 12,699 2,398 4,377 2,664 2,351 7,825 1,727 1,846 2,001 1,972 5,069 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,523,853 2784,600 12,733,229 2946,995 4388,389 3337,012 2973,l4o 8879,459 2148,560 1159,165 2191,202 2002,762 5979,340 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 385,066 19,119 110,286 22,806 36,165 17,225 19,946 52,433 12,869 8,764 15,800 22,173 47,480 SSSSSuuuuurrrrrpppppllllluuuuusssss 868,4l0 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 266,363 15,795 63,929 16,989 23,441 17,505 14,708 42,463 12,010 7,484 12,564 11,705 27,770 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 53,043,692 2869,630 13,146,346 3046,397 4524,638 3416,588 3047,268 9106,514 2207,185 1196,198 2252,501 2080,076 6150,351 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 80,253 4,4l6 2/22,437 5,300 7,227 4,015 3,774 11,884 2,971 1,927 3,132 4,176 8,994 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. JJRR.. nnoottee ssoouuttssttaannddiinngg 29,222,258 1683,958 6,944,352 1839,536 2625,639 2194,871 1659,577 5^25,144 1291,669 619,470 1149,978 868,586 2919,478 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,690,000 530,000 2,900,000 640,000 920,000 700,000 500,000 2000,000 430,000 180,000 300,000 290,000 1300,000 EElliiggiibbllee ppaappeerr 130,960 23j725 - - —— - - -- 15* 200 - - 92*035 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 19,410,000 1250,000 4,200,000 1200,000 1750,000 1550,000 i2oo,oco 3600,000 935,000 450,000 850,000 625,000 1800,000 TToottaall ccoollllaatteerraall 30,230,960 1780,000 7,100,000 1863,725 2670,000 2250,000 1700,000 5600,000 1380,200 630,000 1242,035 915,000 3100,000 1/ After deducting $241,920,000 participations of other Federa lReserve Banks. 2/ After deducting $57*816,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i