H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.I OF THE FEDERAL RESERVE SYSTEM June 13, 1957 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BAH CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending June 12 decreased $12 million to $18,834 million. Estimated required reserves decreased $51 million; and estimated excess reserves increased $39 million to $481 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $570 million, compared with $44 6million the week before* The principal changes reducing average reserves were decreases of * n federal Reserve holdings of U, S. Government securities and $18 million in Federal Reserve float, and increases of $67 million in money in circulation and $22 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $163 million in member ban kborrowings, and decreases of $47 million in "other" deposit swith Federal Reserve Banks and $22 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $1 million. °£ Wednesday, June 12, holdings of U. S. Government securities bought outright were $61 million lower than a week earlier ,U, S. Government securities eld under repurchase agreement were $158 million lower, and member bank borrowings were $765 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items June 12, 1957 June 5, 1957 I June 13. 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 22,926 - 24 -566 Held under repurchase agreement 46 -114 + 22 Acceptances—bought outright 20 - 1 + 4 Loans, discounts, an dadvances-* Member bank borrowings 1,051 +163 +309 Other 9 - 5 + 4 Float 936 - 18 - 34 Total Reserve Bank credit 24,988 + 1 -253 Gold stock 22,621 + 1 +825 Treasury currency outstanding 5,106 + 2 ±±7733 52,715 ++%%3355 Money in circulation 30,903 + 67 +361 Treasury cash holdings 791 - 2 + 12 Treasury deposits with F. R. Banks 463 - 22 + 65 Foreign deposits with F. R. Banks 379 + 22 + 47 Other deposits with F. R. Banks 276 - 47 - 23 Other F. R. account s(net) - 3 + 87 + 15 +550 est Member bank reserves-- - 12 + 85 Required reserves (estimated) - 51 +120 Excess reserves (estimated) 481 + 39 - 35 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 22,621 Treasury cash holdings 791 Treasury currency outstanding 5,106 Member bank) - Required (est.) 18,433 Money in circulation 30,881 reserves ) - Excess (est.) 598 On June 12, 1957, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,673 million, an increase of $65 million for the week and a decrease of $30 millio nfrom the comparable date Digitizaed fyore FaRrA SEaRg o. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since June 12, June 5, June 13, 1957 1957 1956 A S S E TS Gold certificate account 21,099,393 9,999 + 829,152 Redemption fund for F. R, notes 839,156 1,785 - 3*976 Total gold certificate reserves 21,938,549 + 5/215 + 825,176 F. R. notes of other Banks 310,122 + 5A92 + 50,819 Other cash 323,165 2,617 20,715 Discounts and advances 1,290,512 + 752,694 594,526 Industrial loans 773 + 9 158 Ac ceptance s- -boug hotutright 19,419 1,299 3,517 U. S. Government securities: Bought outright— Bills 153,963 60,800 - 449,307 Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 Bonds 2,801,750 Total bought outright 22,589,325 - 60,800 - 602,307 Held under repurchase agreement - 157,800 Total U. S. Government securities 22,889,325 - 218,600 - 602,307 Total loans and securities 24,200,029 + 532,804 4,422 Due from foreign banks 22 Uncollected cash items 4,977,961 + 499,299 + 18,266 Bank premises 78,387 + 225 + 11,361 Other assets 216,250 + 12,623 336 TOTAL ASSETS 52,044,485 +1,055,740 + 880,821 L I A B I L I T I ES Federal Reserve notes 26,515,989 + 34,68? + 321,224 Deposits: Member bank reserves 19,031,242 + 495,418 + 242,237 U. S. Treasurer—general account 423,527 + 43,774 + 63,509 Foreign 394,814 + 34,672 + 51,242 Other 271,806 + 2^509 - 11,149 Total deposits 20,121,389 + 175,373 + 345,839 Deferred availability cash items 4,044,347 + 434,772 + 114,893 Other liabilities and accrued dividends 21,124 - , 771 857 TOTAL LIABILITIES 50,702,859 +1,045,061 + 781,099 C A P I T AL A C C O U N TS Capital paid in 332,205 31 + 17,021 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 234,295 + 10,648 +_ 28,720 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,044,585 +1,055,740 + 880:821 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 47.0# - + 1.1# Contingent liability on acceptances purchased for foreign correspondents 63,23*? + 637 + 17,361 Industrial loan commitments ,1,752 =_ _5L 820 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 12, 1957 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days "172857547 5T 6,317 25,250 16 days to 9° days 5,965 30 13,102 7,986,278 91 days to 1 year 490 12,088,540 Over 1 year to 5 years 192 360,786 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 1,290,512 773 19,419 22,889,325 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

K.4.1(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JUNE 12, 1957 Phila- Cleve- St, Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,099,393 1008,614 5,855,768 1100,646 1851,569 1334,536 804,286 3827,412 847,508 366,160 844,056 758,345 2500,493 Redemption fund for F. R. notes 839,156 54,637 173,683 59,120 74,057 67,471 49,099 151,897 42,662 22,582 40,652 25,410 77,886 Total gold certificate reserves 21,938,549 1063,251 6,029,451 1159,766 1925,626 1402,007 853,385 3979,309 890,170 388,742 884,708 783,755 2578,379 F.R. notes of other Banks 310,122 13,225 64,666 15,662 22,287 15,321 71,182 27,561 9,620 11,328 6,512 26,258 26,500 Other cash 323,165 20,775 70,044 15,220 34,667 16,372 27,499 47,584 18,327 8,253 10,251 14,082 40,091 Discounts and advances 1,290,512 82,397 410,050 129,685 143,610 38,495 63,145 197,990 10,675 32,365 79,300 11,200 91,600 Industrial loans 773 327 413 33 Acceptances- Bought outright 19,419 19,419 U. S. Govt, securities: Bought outright- Bills 153,963 8,398 38,503 8,987 13,523 9,838 7,974 26,875 6,367 3,323 6,610 6,034 17,531 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.,.9.9.6 335,905 975,975 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 22,889,325 1248,521 5,724,185 1336,119 2010,552 1462,46 81185,59% 3995,355 946,588 493,952 982,707 897,010 2606,270 Held under repurchase agreement Total U. S. Govt, sees. 22,889,325 1248,521 5,724,185 1336,119 2010,552 1462,46 81185,598 3995,355 946,588 493,952 982,707 897,010 2606,270 Total loans & securities 24,200,029 1331,245 6,153,654 1466,217 2154,162 1500,963 1248,743 4193,345 957,263 526,350 1062,007 908,210 2697,870 Due from foreign "banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,977,961 355,684 881,349 328,306 453,669 409,696 416,203 814,058 211,321 130,602 232,392 259,291 485,390 Bank premises 78,387 5,218 9,849 4,670 8,685 7,207 5,404 6,508 5,282 5,222 4,732 5,014 10,596 Other assets 216.250 11.594 52,677 12,309 19,036 13,698 11,209 39.425 8,749 4,636 9.132 9.132 24.653 TOTAL ASSETS 52,044,485 2800,993 13,261,696 3002,152 4618,134 3365,265 2633,626 9107,793 2100,73 31075,134 2209,735 2005,743 5863,481 l/ After deducting $16,000 participations of other Federa lReserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

a.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JUKE 12 ,1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 26,515,989 1578,310 6,226,769 1699,991 2507,10 62090,384 1251,729 5120,470 1178,262 483,685 1065,737 683,194 2630,352 Deposits: Member bank reserves 19,031,242 784,639 5,678,214 876,221 1536,775 805,219 921,235 3017,163 663,009 4ll,76l 849,753 970,548 2516,705 U.S.Treas.-gen.acct. 423,527 35,879 26,709 30,151 34,683 36,733 27,327 52,987 24,494 21,744 38,692 34,939 59,189 Foreign 394,814 22,272 1/118,718 26,880 34,560 19,584 17,280 54,528 14,208 9,216 14,592 19,968 43,008 Other 271,806 433 211,969 9,367 867 3,939 1,728 1,435 4o8 254 1,088 2,194 38,124 Total deposits 20,121,389 843,223 6,035,610 942,619 1606,885 865,475 967,570 3126,113 702,119 444422,,997755 904,125 1027,649 2657,026 Deferred availability cash items 4,044,347 299,890 627,498 265,117 381,756 336,979 350,765 662,804 167,577 113,976 185,490 226,352 426,143 Other liabilities and accrued dividends 21,124 1,145 5,458 1,017 2,365 1,051 1,003 3,505 763 801 822 1,085 2,109 TOTAL LIABILITIES 50,702,049 2722,568 12,895,335 2908,744 4490,112 3293,889 2571,067 8912,892 2048,721 1041,437 2156,174 1938,280 5715,630 CAPITAL ACCOUNTS Capital paid in 332,205 17,111 95,167 21,063 31,978 15,283 16,087 45,358 11,362 7,303 13,448 18,623 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,l4o Other capital accounts 234,295 14,355 55,873 15,555 20,645 15,150 12,531 37,693 10,798 6,801 10,993 10,025 23,876 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,044,485 2800,993 13,261,696 3002,152 4618,134 3365,265 2633,626 9107,793 2100,73 31075,134 2209,735 2005,743 5863,481 Conting. liah. on accept- \ it ances purchased for foreign correspondents 63,23® 3,666 2/17,7%^ 4,424 5,688 3,223 2,844 8,975 2,338 1,517 2,402 3,286 7,078 — 1/,":., FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,446,100 1607,814 6,456,883 1772,873 2578,919 2148,90 51306,695 5235,969 1222,114 533,180 1095,716 728,837 2758,195 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 207,660 -- — 117,685 -- — — -- 10,675 — 79,300 -- — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,005,000 1150,000 3,600,000 1200,000 1500,000 1310,000 1000,000 3100,000 875,000 425,000 820,000 525,000 1500,000 TToottaall ccoollllaatteerraall 29,010,660 1730,000 6,770,000 1957,685 2630,000 2225,000 1400,000 5400,000 1335,675 555,000 1199,300 808,000 3000,000 2/ After deducting $45,441,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis