H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERA LRESERVE SYSTEM Juris 20, 1957 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK 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 19 increased $314 million to $19,148 million. Estimated required reserves increased $217 million; and estimated excess reserves increased $97 million to $592 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $497 million, compared with $55 6million the week before. The principal changes supplying average reserves were increases of $448 million in Federal Reserve float and $38 million in member ban kborrowings. The principal offsetting changes were increases of $59 million in "other" deposits with Federal Reserve Banks and $55 million in Treasury deposits with Federal Reserve Banks, and a decrease of $42 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $436 million. As of Wednesday, June 19, holdings of U. S. Government securities bought outright were $19 million lower than a week earlie rand member bank borrowings were $247 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items June 19, 1957 June 12, 1957 June 20. 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 22,880 - 46 -612 Held under repurchase agreement 50 + 4 + 50 Acceptances-- Bought outright 20 + 4 mmmm Held under repurchase agreement 1 4" 1 + 1 Loans, discounts, an dadvances- Member bank borrowings 1,089 + 38 +325 Other 1 - 8 w M Float 1,384 +448 -123 Total Reserve Bank credit 25,424 +436 -355 Gold stock 22,621 +823 -»*"» Treasury currency outstanding 5,106 — — + 73 53,151 +436 +54l Money in circulation 30,904 + l +363 Treasury cash holdings 782 - 9 + 8 Treasury deposits with F. R. Banks 518 + 55 - 17 Foreign deposits with F. R. Banks 389 + 10 + 58 Other deposits with F. R, Banks 335 + 59 + 18 Other F. R. account s(net) 1,076 + 7 + 78 34,004 +123 +510 Member bank reserves— 19,148 +314 + 32 Required reserves (estimated) 18,556 +217 + 56 Excess reserves (estimated) 592 + 97 - 24 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANK COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 22,622 Treasury cash holdings 784 Treasury currency outstanding 5,106 Member bank) - Required (est.) 18,692 Money in circulation 30,837 reserves ) - Exces s(est.) 360 On June 19, 1957> U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,747 million, an increase of $74 million for the week and an increase of $18 millio nfrom the comparable Digitizdeda ftore F RaA SEyRe ar ago. 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 19, June 12, June 20, 1957 1957 1956 A SS E T S Gold certificatea ccount 21,099,392 1 + 829,153 Redemption fund for F. R. notes 837,415 1,741 - 3,652 Total gold certificat ereserves 21,936,807 - 1,742 + 825,501 F. R. note sof othe rBanks 317,758 + 7,636 + 39,355 Other cash 337,510 + 14,345 - 21,425 Discounts and advances 1,043,858 - 246,654 + 292,280 Industrial loans 725 48 - 151 Acceptances—bought outright 19,415 4 + 4,294 U. S. Government securities: Bought outright— Bills 135,213 - 18,750 468,057 Certificates 11,362,199 + 429,500 Notes 8,571,413 « - 582,500 Bonds 2,801,750 — Total bought outright 22,870,575 - 18,750 621,057 * Held under repurchase agreement Total U, S. Government securities 22,870,575 Total loans an dsecurities Due from foreign banks Uncollected cash items 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 (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments . 1 s o- & 621,057 23,934,573 - 265,456 - 324,634 22 -- 6,979,766 +2,001,805 + 544,769 78,919 + 532 + 11,370 208,070 8,180 + 3,015 53,793,425 +1,748,940 +1,077,951 26,485,740 - 30,249 + 311,705 19,051,894 + 20,652 + 119,328 601,901 + 178,374 - 144,425 369,987 - 24,827 + 44,464 282,553 + 10,747 574 20,306,335 + 184,946 + 18,793 5,627,067 +1,582,720 + 646,127 . 21,635 + 511 986 52,440,777 +1,737,928 + 975,639 332,433 + 228 + 16,961 747,593 mmm + 53,981 27,543 -- 245,079 + 10,784 + 31,370 53,793,425 +1,748,940 +1,077,951 46.9$ .1$ + 1.5# 62,625 6l4* + 17,084 1,800 + 48 826 June 12 figure revised. MATURITY DISTRIBUTION OF LOAN SAND SECURITIES. JUNE 19, 1957 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 1 5days in accordanc ewith maximu mmaturity of th eagreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 1,015,696 63 5,930 7,500 16 days to 90 days 28,162 29 13,485 7,985,278 91 days to 1 year 441 12,088,540 Over 1 year to 5 years 192 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 1,043,858 7§ 19,415 22,870,575 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITIO NOF Efi.C EFEDERAL RESERVE BANK ON JUN E19, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia l , a n , d I R ichmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars7) A S S E TS Gold certificate account 21,099,392 1131,125 5,645,578 1083,3641 846,552 1347,326 816,986 3889,840 878,896 360,195 830,999 744,907 2523,624 Redemption fund for F. R. notes 837.415 54.538 173.327 58.947 71.899 66.980 49.018 151.730 42.615 22.570 40.616 25.380 77.795 Total gold certificate reserves 21,936,807 1185,663 5,818,905 1142,311 1920,451 1414,306 866,004 4o4l,570 921,511 382,765 871,615 770,287 2601,419 F.R. notes of other Banks 317,758 15,109 64,347 20,692 21,950 16,514 69,574 28,014 9,721 10,659 6,211 25,708 29,259 Other cash 337,510 21,163 71,465 18,202 34,003 17,794 29,312 51,867 19,010 9,318 11,350 12,985 41,041 Discounts and advances 1,043,858 66,490 307,150 98,545 150,600 34,331 45,897 96,015 17,975 72,565 88,840 28,700 36,750 Industrial loans 725 327 365 33 Acceptances— Bought outright 19,415 19,415 U. S. Govt, securities: Bought outright— Bills 135,213 7,375 33,814 7,892 11,877 8,640 7,003 23,602 5,592 2,918 5,805 5,299 15,396 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 1±5y2^.,802244 700,664 163,547 246,100 179.012 145.122 489.048 115.866 60.462 120.288 109.798 319.019 Total 22,870,575 1247,498 5,719,496 1335,024 2008,906 1461,270 1184,627 3992,082 945,813 493,547 981,902 896,275 2604,135 Held under repurchase agreement Total U. S. Govt, sees. 22,870,575 1247.498 5,719,496 1335,024 2008,906 1461,270 1184,627 3992,082 945,813 493,547 981,902 896,275 2604,135 Total loans & securities 23,934,573 1314,315 6,046,061 1433,934 2159,506 1495,601 1230,524 4088,097 963,788 566,145 1070,742 924,975 2640,885 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 6,979,766 527,515 1,5347662 490,812 669,050 514,566 498,072 1076,437 269,804 168,693 304,926 308,535 616,694 Bank premises 78,919 5,218 9,854 4,670 8,917 7,211 5,403 6,510 5,482 5,222 4,732 5,104 10,596 Other assets 208,070 11,108 50,880 11,840 18,179 13,107 10,855 37,881 8,373 4.461 8,736 8.919 23,731 TOTAL ASSETS 53,793,425 3080,092 13,596,180 3122,463 4832,058 3479,100 2709,745 9330,379 2197,69 01147,264 2278,313 2056,514 5963,627 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JUNE 19, 1957 E.h.l(c) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,485,740 1579,673 6,224,453 1692,905 2507,046 2086,325 1248,209 5124,56?11 76,396 483,421 1059,519 683,650 2619,576 Deposits: Member bank reserves 19,051,894 846,203 5,468,474 879,159 1563,169 844,283 923,974 2992,556 707,042 429,246 869,548 988,645 2539,595 U.S.Treas.-gen.acct. 601,901 50,369 41,382 30,358 46,172 39,788 55,564 122,010 38,703 55,496 36,791 29,940 55,328 Foreign 369,987 20,996 1/109,709 25,340 32,580 18,462 16,290 51,404 13,394 8,688 13,756 18,824 40,544 Other 282,553 849 ~ 225,056 9,879 1,313 3,412 1,214 1,604 344 348 2,003 2,065 34,466 Total deposits 20,306,335 918,417 5,844,621 9^4,736 1643,234 905,945 997,042 3167,574 759,483 493,778 922,098 1039,474 2669,933 Deferred availability cash items 5,627,067 501,877 1,151,821 389,653 558,436 413,827 400,392 837,551 208,716 135,439 241,911 264,4l6 523,028 Other liabilities and accrued dividends 21,635 1,129 6,118 1,076 2,391 , 988 1,004 3,703 699 738 746 1,055 1,988 TOTAL LIABILITIES 52,440,777 3001,096 13,227,013 3028,370 4711,107 3407,0% 2646,647 9133,395 2145,294 1113,376 2224,274 1988,595 5814,525 CAPITAL ACCOUNTS Capital paid in 332,433 17,111 95,159 21,063 31,985 15,288 16,119 45,512 11,369 7,310 13,463 18,629 39,425 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 245,079 14,926 58,687 16,240 21,567 15,784 13,038 39,622 11,175 6,985 11,456 10,475 25,124 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,793,425 3080,092 13,596,180 3122,463 4832,058 3479,100 2709,745 9330,379 2197,690 1147,264 2278,313 2056,514 5963,627 Conting. liab. on acceptances purchased for foreign correspondents 62,625 3,625 2/17,687 4,375 5,625 3,187 2,813 8,875 2,313 1,500 2,375 3,250 7,000 Industrial loan commit. 1,800 55 14 83 — — 1,648 — — — FEDERAL RESERVE AGENTS! ACCOUNTS F. R. notes outstanding 27,519,215 1623,845 6,511,660 1770,940 2582,980 2143,378 1308,329 5226,568 1230,16 2532,500 1089,270 727,389 2772,194 Collat. for F. R. notes: Gold certificate acct. 11,898,000 580,000 3,170,000 640,000 1130,000 915,000 400,000 2400,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 205,360 98,545 17,975 — 88,840 - - U. S. Govt, securities 16,905,000 1150,000 3,600,000 1200,000 1500.000 1310.000 1000.000 3000.000 875.000 425.000 820.000 525.000 1500.000 1730,000 6,770,000 19387545 2630.000 2225.000 1400.000 5400.000 1142.975 555.000 1208.840 808.000 1000.000 ____T_o_t_a l2 9c,o0l0l8a,t3e6r0a l 1/ After deducting $260,278,000 participations of other Federa lReserve Banks. 2/ After deducting $44,938,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis