H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 6, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member 'ban kreserves for the week ending June 5 increased $230 million to $18,846 million. Estimated required reserves increased $114 million; and estimated excess reserves increased $116 million to $442 million. Member "bank borrowings at the Federal Reserve Banks exceeded excess reserves by $446 million, compared with $557 million the week before. The principal changes supplying average reserves were increases of $214 million in gold stock and $180 million in Federal Reserve holdings of U. S. Goverment securities, and a decrease of $77 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $176 million in money in circulation and $44 million in "other" deposits with Federal Reserve Banks, and a decrease of $25 million in Federal Reserve float. Total Reserve Bank credit increased $154 million. As of Wednesday, June 5, U. S, Government securities held under repurchase agreement were $95 million higher than a week earlier and member bank borrowings were $4l8 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items June 5j 1957 May 29, 1957 June 6, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 22,950 + 49 -456 Held under repurchase agreement loO +131 + 63 Acceptance s- -bough toutright 21 + 1 + 4 Loans, discounts, and advances-- Member bank borrowings 888 + 5 - 4 Other 14 - 7 + 11 Float 954 - 25 + 48 Total Reserve Bank credit 24,987 +154 -333 Gold stock 22,620 +214 +838 Treasury currency outstanding 5,104 + 2 + 72 52,711 +370 +577 Money in circulation 30,83&^ +176 +331 Treasury cash holdings 793-.% - 1 + 11 Treasury deposits with F. R. Banks 485 - 77 + 56 Foreign deposits with F. R. Banks 357 - 1 + 52 Other deposits with F. R. Banks 323 + 44 + 13 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,072 - l + 89 33,866 +l4l +551 Member bank reserves-- 18,846 +230 + 27 Required reserves (estimated) 18,404 +ll4 +187 Excess reserves (estimated) 442 +116 -160 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock ~ 22,620 Treasury cash holdings 796 Treasury currency outstanding $,106 Member bank) - Required (est.) 18,409 Money in circulation 30,850 reserves ) - Excess (est.) 127 On June 5, 1957, U. S, Government securities held in custody by the Federal Reserve Banks for foreign account were $3,608 million, a decrease of $6 million for the week and a decrease of $118 million from the comparable date Digitizeda fo r yFeRaASrE Ra go. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 5, May 29, June 6, 1957 1957 1956 A S S E TS + 815,408 21,089,394 Gold certificate account 840,941 1,721 + 9,403 Redemption fund for F. R. notes 21,930,335 1,719 + 824,811 Total gold certificate reserves 304,930 10,663 + 50,583 F. R. notes of other Banks 325,782 7,144 - 16,992 Other cash 537,818 425,923 + 44,155 Discounts and advances 764 16 159 Industrial loans 20,718 1 + 4,283 Acceptances--bought outright U. S. Government securities: Bought outright— 214,763 - 388,507 Bills 11,362,199 + 429,500 Certificates 8,571,413 - 582,500 Notes 2,801,750 Bonds Total bought outright 22,950,125 - 541,507 Held under repurchase agreement 157,800 + 94,600 + 137,500 Total U. S. Government securities 23.107,925 + #3oo - 404,007 Total loans and securities 23,667,225 331,308 - 355,728 22 Due from foreign banks 4,478,662 - 279,253 + 328,036 Uncollected cash items 78,162 31 + 11,539 Bank premises 203,627 + 13,196 3,070 Other assets 50,988,745 - 616,922 + 839,179 TOTAL ASSETS L I A B I L I T I ES 26,481,302 + 8,789 + 316,304 Federal Reserve notes Deposits: Member bank reserves 18,535,824 - 148,907 + 67,320 U. S. Treasurer—general account 379,753 - 107,520 - 55,438 360,142 3,821 + 42,867 Foreign Other 269,297 Z_13435 - 27,264 Total deposits 19,545,016 - 273,653 + 27,485 Deferred availability cash items 3,609,575 - 364,115 + 398,214 Other liabilities and accrued dividends 21,895 + 1,470 214 TOTAL LIABILITIES 49,657,788 - 627,539 + 741,789 C A P I T AL A C C O U N TS Capital paid in 332,174 63 + 17,207 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 223,647 + 10,554 26,202 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50.988,745 - 616,922 839,179 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.6% .2$ 1.4# Contingent liability on acceptances purchased for foreign correspondents 62,593 2,774 17,705 1,803 1L 777 Industrial loan commitments MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 5, 1957 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.; U. S. Government Discounts and Industrial advances loans Acceptances securities Within 15 days 530,593 52 5,702 201,450 16 days to 90 days 7,225 30 15,016 8,028,678 91 days to 1 year 481 12,088,540 Over 1 year to 5 years 201 360,786 Over 5 years to 10 years 1,013,614 1,414,857 Over 10 years Digitized for FRASTEoRt al 537,818 755 20,718 23,107,925 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4.1(b) l 1 OF COHDIT]C ON OF EACH FEDERA][ . RESERVE BANK ON JUNE 5, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City- Francisco (In thousands A S S E TS Gold certificate account 21,089,394 998,179 5,719,335 1174,282 1889,410 1332,569 777,453 3865,356 856,319 377,808 856,336 722,105 2520,242 Redemption fund for F. R. notes 840,941 54,733 174,111 59,240 74,190 68,046 49,172 152,045 42,700 22,592 40,688 25,435 77,989 Total gold certificate reserves 21,930,335 1052,912 5,893,446 1233,522 1963,600 1400,615 826,625 4017,401 899,019 400,400 897,024 747,540 2598,231 F.R. notes of other Banks 304,930 13,080 61,757 22,599 23,587 13,334 67,747 25,355 7,777 10,351 5,193 28,241 25,909 Other cash 325,782 21,712 63,580 16,506 33,391 16,886 29,958 52,835 18,516 9,501 9,552 13,929 39,316 Discounts and advances 537,818 56,953 63,752 34,230 72,410 36,158 56,910 79,519 9,319 20,423 66,676 17,924 23,544 Industrial loans 764 327 404 33 Acceptances- Bought outright 20,718 20,718 U, S. Govt, securities: Bought outright— Bills 214,763 11,715 53,708 12,536 18,864 13,722 11,124 37,487 8,881 4,635 9,221 8,4l6 24,454 Certificates 11,362,199 619,763 2,841,470 663,246 998,033 725,965 588,528 1983,283 469,884 245,196 487,813 445,273 1293,745 Notes 8,571,413 467,536 2,143,548 500,339 752,896 547,653 443,974 1496,149 354,471 184,971 367,996 335,905 975,975 Bonds 2,801,750 152,824 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109,798 319,019 Total 22,950,125 1251,838 5,739,390 1339,668 2015,893 1466,352 1100,740 4005,967 949,102 495,264 905,31% #99,392 2613,193 Held under repurchase agreement 157,800 Total U. S. Govt, sees. 23,107,925 1251,838 5,897,190 1339,668 2015,893 1466,352 1188,748 4005,967 949,102 495,264 985,318 899,392 2613,193 Total loans & securities 23,667,225 1309,118 5,981,660 1374,302 2088,303 1502,510 1245,658 4085,486 958,421 515,720 1051,994 917,316 2636,737 Due from foreign "banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,478,662 350,707 805,280 305,219 407,026 352,428 330,922 730,106 196,735 112,732 211,424 215,604 460,479 'Bank premises 78,162 5,217 9,849 4,670 8,694 7,208 5,404 6,483 5,261 5,220 4,721 4,839 10,596 Other assets 203,627 10,920 49,746 11,568 18,120 12,809 10,502 37,149 8,238 4,339 8,527 8,616 23,093 TOTAL ASSETS 50,988,745 2763,667 12,865,324 2968,388 4542,723 3305,791 2516,817 8954,818 2093,968 1058,264 2188,536 1936,086 5794,363 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Ban:k o*f St. Louis %

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 5, 1957 Phila- Cleve- I St. Minne- Kansas San Total Boston New York 1 Richmond Atlanta CChhiiccaaggoo Dallas delphia land J Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,481,302 1574,873 6,240,881 1693,677 2500,486 2084,oil 1245,34? 5115,935 1178,787 481,905 1061,740 681,009 2622,651 Deposits: Member "bank reserves 18,535,824 776,444 5,243,571 870,975 1551,864 805,431 894,435 2967,539 671,315 404,162 860,119 965,945 2524,024 U.S.Treas.-gen.acct. 379,753 28,277 67,321 33,793 12,776 48,978 28,113 33,611 16,806 33,075 27,298 26,877 22,828 Foreign 360,142 20,068 1/111,368 24,220 31,140 17,646 15,570 49,132 12,802 8,304 13,148 17,992 38,752 Other 269,297 548 211,116 9,571 1,382 4,306 1,902 1,313 727 253 780 2,354 35,045 Total deposits 19,545,016 825,337 5,633,376 938,559 1597,162 876,361 940,020 3051,595 701,650 445,794 901,345 1013,168 2620,649 Deferred availability cash items 33,,660099,,557755 284,443 662211,,110044 242,327 323,515 227733,,776688 226688,,445544 559900,,558811 116611,,224488 9966,,001188 171,643 174,000 402,474 Other liabilities and accrued dividends 21,895 11,,116655 66,,335533 1,084 22,,444400 933 959 3,725 665511 l,o4o 739 857 1,949 TOTAL LIABILITIES 49,657,78% 2685,818 12,501,714 2875,647 4423,603 3235,073 2454,780 8761,836 2042,336 1024,757 2135,467 1869,034 5647,723 CAPITAL ACCOUNTS Capital paid in 332,174 17,108 95,164 21,069 31,978 15,271 16,087 45,354 11,361 7,302 13,436 18,622 39,422 Surplus (Section 7) 747,593 43,948 208,002 52,301 66,393 37,594 33,179 110,421 29,331 18,520 27,983 37,508 82,413 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 223,647 13,782 53,125 14,882 19,743 14,504 12,009 35,778 10,419 6,612 10,513 9,615 22,665 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,988,745 2763,667 12,865,324 2968,388 4542,723 3305,791 2516,817 8954,818 2093,96 81058,264 2188,536 1936,086 5794,363 Conting. liab. on acceptances purchased for foreign correspondents 62,593 3,631 22//1177,,558844 4,382 55,,663344 3,193 22,,881177 8,889 2,316 1,502 2,379 3,255 7,011 Industrial loan commit. 1,803 — - — 16 56 -- -• 83 — — 1,648 -- " FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,364,124 1602,651 6,443,617 1775,902 2572,531 2143,727 1300,315 5212,930 1229,470 533,353 1082,992 730,125 2736,511 Collat. for F. R. notes: Gold certificate acct. 11,798,000 580,000 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 108,485 33,390 8,875 -• 66,220 —— — U. S. Govt, securities 17,005,000 1-1 5-0,000 3,600,000 1200,000 1500,000 1310,000 1000,000 3100,000 875.000 425,000 820,000 525,000 1500,000 Total collateral 28,911,48511730.000 6,770.000 1873,390 2630.000 2225.000 1400.000 5400.000 1333.875 555.000 1186.220 808.000 3000.000 1/ After deducting $248,7 74,000 participations of other Federal Reserve Banks, 2/ After deducting $45, 009,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis