H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM December 31, 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 30 decreased $277 million to $18,994 million, all of which was in member bank reserve balances at the Federal Reserve Banks. Estimated required reserves decreased $98 million; and estimated excess reserves decreased $179 million to $506 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $422 million, compared with $295 million the week before. The principal changes reducing average reserve balances with Federal Reserve Banks were decreases of $183 million in U. S. Government securities bought outright, $52 million in member bank borrowings, and $30 million in Federal Reserve float, and an increase of $22 million in foreign deposits with Federal Reserve banks. The principal offsetting change was a decrease of $31 million in currency in circulation. Total Reserve Bank credit decreased $254 million. As of Wednesday, December 30, holdings of U. S. Government securities bought outright were $124 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $30 million higher, and member bank borrowings were $98 million lower. Averages of daily figures Member bank reserves, Week ended Change from week ended Wednesday Reserve Bank credit, Dec. 30, Dec. 23, Dec. 31, Dec. 30, and related items 1959 1959 1958 1959 (] Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 26,787 -183 + 546 26,748 Held under repurchase agreement 42 + 5 - 154 30 Acceptances-- Bought outright 44 + 1 + 2 44 Held under repurchase agreement 34 + 4 + 30 31 Loans, discounts, and advances— Member bank borrowings 928 - 52 + 138 366 Other 5 - 13 5 Float 1,788 - 30 + 170 1,509 Total Reserve Bank credit 29,629 -254 + 719 28,733 Gold stock 19,456 - 11 -1,070 19,456 Treasury currency outstanding 5,313 + 1 + 81 5,314 54,398 -264 - 270 53,503 Currency in circulation 32,893 - 31 + 435 32,694 Treasury cash holdings 393 + 6 - 299 409 Treasury deposits with F. R. Banks 537 + 14 + 16 518 Foreign deposits with F. R. Banks 387 + 22 + 55 383 Other deposits with F. R. Banks 333 + 2 343 * - Other F. R. accounts (net) 1,195 - - + 30 1,196 35,738 r i3 + 237 35,5^3 Member bank reserves: With Federal Reserve Banks 18,660 -277 - 507 17,960 Cash allowed as reserves (estimated) 334 m mm + 334 334 Total reserves held 18,994 -277 - 173 18,294 Required reserves (estimated) 18,488 - 98 - 23 18,514 Excess reserves (estimated) 506 -179 - 150 -220 On December 30, 1959/ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $4,643 million, an increase of Digitiz$ed4 f0o rm FRiAlSliEoRn for the week and an increase of $948 million from the comparable date http://fara syeer.astrlou aisfgedo..o rg/ Federal Reserve Bank of St. Louis

H.-'.l'a' LiAli,K3NT OF COUDIT-LCN OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Dec. 30, Dec. 23, Dec. 31, 1959 1959 1958 A S S E TS Gold certificate account 18,185,643 10,999 827,250 Redemption fund for F. R. notes 978,084 + 1,001 + 4o,165 Total gold certificate reserves 19,163,727 - 9^95 - 787, C85 F. R. notes of other Banks 481,996 + 116,134 + 5,003 Other cash 335,934 4- 29,193 540 • Discounts and advances 371,180 98,428 4 307,217 ~ Industrial loans -- -- - 336 Acceptances: Bought outright 43,504 -«. + 2l4 Held under repurchase agreement 31,173 5,998 + 25,374 - U. S. Government securities: Bought outright— Bills 2,747,065 123,740 + 496,615 Certificates 10,506,993 -- -8, ,142,733 Notes 11,010,298 +8,142,733 • - Bonds 2,483,771 — — Total bought outright 26,748,127 123,740 + 496,615 - Held under repurchase agreement 30,000 + 30,000 - 65,000 Total U. S. Government securities 26,778,127 93,740 + 431,615 - Total loans and securities 27,223,984 198,166 764,084 * Due from foreign "banks 15 - — — •» Cash items in process of collection 6,417,813 - 115,653 + 787,129 Bank premises 99,917 - 268 + 6,281 Other assets 259,916 + 19,114 + 113,275 TOTAL ASSETS 53,983,302 159,644 + 888,147 - L I A B I L I T I ES Federal Reserve notes 28,314,385 - 159,360 + 442,362 Deposits: Member bank reserves 17,960,096 • 125,457 543,895 U. S. Treasurer--general account 518,497 '+ 8,725 + 160,133 Foreign 382,933 - 8,773 + 110,448 Other 342,604 + 8,612 - 48,247 Total deposits 19,204,130 116,893 321,561 - - Deferred availability cash items 4,909,180 + 100,659 + 574,054 Other liabilities and accrued dividends i/ 45,564 - 3,121 + 23,881 TOTAL LIABILITIES 52,473,259 - 178,715 4- 718,736 C A P I T AL A C C O U N TS Capital paid In" 387, 317 + 381 + 24,219 Surplus 868,4l0 •» — Other capital accounts 254,316 + 18,690 + 145,192 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,983,302 159,644 888,147 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined bo. 3% + .2$ I. - Contingent liability on acceptances purchased for foreign correspondents 82,298 + 8,269 + 14,4 99 Industrial loan commitments 975 -- -- l/ "No accrued dividends December 31, 1958. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 30, 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 360,353 39,452 478,180 16 days to 90 days 10,8l4 35,225 7,364,113 91 days to 1 year 13 10,941,765 Over 1 year to 5 years 6,523,912 Over 5 years to 10 years 677,384 Over 10 years Digitized for FRASER 792,773 http://fraser.sTtloouitsafeld .org/ 371,180 74,677 26,778,127 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 30, 1959 Fhila- I ' 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 18,185,643 810,624 4,619,354 1046,365 1614,351 1031,181 911,432 3184, 688 763,522 351,288 707,351 663,980 2481,507 Redemption fund for F. R. notes 978.084 59,652 213,325 60.965 87,707 79.240 64,629 182.357 46.241 23.410 45.167 31.037 84.354 Total gold certificate reserves 19,163,727 870,276 4,832,679 1107,330 1702,058 1110,421 976,061 3367,045 809,763 374,698 752,518 695,017 2565,861 F.R. notes of other Banks 481,996 34,512 87,450 32,252 29,780 63,816 59,311 41,647 17,673 20,739 22,429 29,971 42,4l6 Other cash 335,934 17,798 52,961 15,668 29,595 22,786 27,726 60,537 23,353 11,225 14,317 15,194 44,774 Discounts and advances 371,180 7,085 25,520 9,645 1,700 6,200 128,625 89,473 19,210 21,644 55,008 3,660 3,410 Acceptances: Bought outright 43,504 43,504 Held under rep. agree. 31,173 31,173 U. S. Govt, securities: Bought outright— Bills 2,747,065 148,932 691,305 156,655 237,835 176,053 144,781 475,386 111,723 62,569 118,412 109,647 313,767 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 09.137 28^.6Q4 Total 26,748,127 1450,150 6,731, 220 1525,339 2315,799 1714,234 1409,733 4628,817 1087,846 609,242 1152,978 1067,625 3055,144 Held under rep. agree. 30.000 301000 — — — — — em Total U. S. Govt, sees. 26,778,127 1450,150 6,761,220 1525,339 2315,799 1714,234 1409,733 4628,817 1087,846 609,242 1152,978 1067,625 3055,144 Total loans & securities 27,223,984 1457,235 6,861,417 1534,984 2317,499 1720,434 1538,358 4718,290 1107,056 630,886 1207,986 1071,285 3058,554 Due from foreign "banks 15 1 1 /4 1 1 1 1 2 1 2/ 1 1 1 Cash items in process of collection 6,417,813 464, o4o 1,342,831 405,224 565,881 433,699 463,078 1033,508 283,766 157,747 300,880 284,293 682,866 Bank premises 99,917 4,328 9,900 4,036 9,580 6,651 9,542 15,611 7,035 5,059 4,636 11,361 12,178 Other assets 259,916 13,822 64,986 14,419 22,773 16,601 14,742 44,004 10,330 5,869 12,012 10,641 29,717 TOTAL ASSETS 53,983,302 2862,012 13, 252,228 3113,914 4677,167 3374,409 3088,819 9280,644 2258,977 1206,223 2314,779 2117,763 6436,367 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

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 30, 1959 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 28,314,385 1619,089 6,646,850 1815,009 2577,427 2140,392 1610,995 5329,017 1248,505 608,679 1118,439 820,592 2779,391 Deposits: Member bank reserves 17,960,096 732,638 4,838,007 833,701 1434,698 713,461 942,332 2809,471 665,704 386,071 843,711 922,315 2837,987 U.8.Treas.-gen.acct. 518,497 36,382 63,616 37,887 43,050 56,521 42,544 55,378 39,809 28,835 43,997 42,701 27,777 Foreign 382,933 20,240 1/117,973 24,288 33,120 18,400 17,296 54,464 13,616 8,832 14,352 19,136 41,216 Other 342,604 197 289,964 925 1,001 1,993 1,329 837 741 255 906 1,239 43,217 Total deposits 19,204,130 709,457 5,309,560 096,801 1511,869 790,375 1003,501 2920,150 719,870 423,993 902,966 985,391 2950,197 Deferred availability cash items 4,909,180 365,424 874,473 301,085 448,660 362,443 398,635 798,232 230,711 134,815 230,713 232,219 531,770 Other liabilities and accrued dividends 45,564 3,510 11*545 2*268 4,026 2,347 2,110 6.948 1.583 1.933 1,785 2,084 5.425 TOTAL LIABILITIES 52,473,259 2777,480 12,842,428 3015,163 4541,982 3295,557 3015,241 9054,347 2200,669 1169,420 2253,903 2040,286 6266,783 CAPITAL ACCOUNTS Capital paid in 387,317 19,166 110,452 22,819 36,265 17,275 20,153 53,653 12,931 8,790 15,860 22,258 47,695 Surplus 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 Other capital accounts 254.316 15,250 60,446 ,16,325 22.277 16,731 .13x951. 40.485 11.631 7.228 12.081 11.783 26.128 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,983,302 2862,012 13,252,228 3113,914 4677,167 3374,409 3088,819 9280,644 2258,977 1206,223 2314,779 2117,763 6436,367 Conting. liab. on acceptv* v, «l_ gj+X V vx J .O CJ^VUUCU u 0 WWJ 1,^1 J,WW J.VV J J,C-LV *t,CUV >,C_LV FEDERAL RESERVE AGENTS' ACCOUNTS FF—— RR.. nnootteess oouuttssttaannddiinngg 29,466,992 1703,220 6,949,674 1868,761 2646,452 2224,534 1687,923 5488,744 1307,539 622,868 1155,595 871,037 2940,645 ; CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 10,650,000 530,000 2,900,000 700,000 920,000 700,000 500,000 1900,000 430,000 180,000 300,000 290,000 1300,000 : EElliiggiibbllee ppaappeerr 81,953 — -- 8,115 — -- — -- 19,025 — 54,813 — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 19,530,000 1250,000 4,200,000 1200,000 1750,000 1550,000 1200,000 3700,000 935,000 450.000 870,000 625,000 1800,000- TToottaall ccoollllaatteerraall 30,261,953 1780,000 7,100,000 1908,115 2670,000 2250,000 1700,000 5600,000 1384,025 630,000 1224,813 915,000 3100,000 11// AAfftteerr ddeedduuccttiinngg &&226644..99ff )0.000 nart.i Levna±ions of other Federal Reserve Banks. J2/ After deducting $59,256,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis M : 1