H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM • July 5, 1957 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 member bank reserves for the week ending July 3 decreased $306 million to $18,865 million. Estimated required reserves decreased $84 million; and estimated excess reserves decreased $222 million to $346 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $721 million, compared with $435 millio nthe week before. The principal changes reducing average reserves were increases of $297 million in money in circulation, $69 million in Treasury deposits with Federal Reserve Banks, and $42 million in "other" deposits with Federal Reserve Banks, and a decrease of $122 million in Federal Reserve float. The principal offsetting changes were increases of $147 million in Federal Reserve holdings of U. S. Government securities and $64 million in member bank borrowings. Total Reserve Bank credit increased $93 million. As of Wednesday, July 3, holdings of U. S. Government securities bought outright were $258 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $236 million higher, and member bank borrowings were $282 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 3, 19,5,7 , June 26, 1957 July 4, 195% (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,031 +143 -717 Held under repurchase agreement 67 + 4 + 24 Acceptances-- Bought outright 21 + 1 + 3 Held under repurchase agreement 1 + l + 1 Loans, discounts, and advances-- Member bank borrowings 1,067 + 64 +424 Other n Float 1,198 -122 - 33 Total Reserve Bank credit 25,387 + 93 -29S Gold stock 22,623 „ + 1 +817 Treasury currency outstanding — + 74 53,116 + 93 +593 Money in circulation 3 1 , 1 ^^ +297 +381 Treasury cash holdings 76/"-3 - 11 - 8 Treasury deposits with F. R. Banks 546 + 69 + 53 Foreign deposits with F. R. Banks 420 + 13 +122 Other deposits with F. R. Banks 296 + 42 - 2 Other F. R. accounts (net) 1,077 - 10 + 84 34,251 +4oo +630 Member bank reserves-- 18,865 -306 - 37 Required reserves (estimated) 18,519 - 84 + 89 Excess reserves (estimated) 346 -222 -126 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 22,623 Treasury cash holdings 768 Treasury currency outstanding 5,108 Member bank) - Required (est.) 18,504 Money in circulation 31,338 reserves ) - Excess (est.) 516 On July 3, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,758 million, an increase of $4 million for the week and an increase of $125 million from the comparable Digitizedda fotr eF RAaS EyRe ar ago. 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 July 3, June 26, July 4, 1957 1957 1956 A SS E TS . Gold certificate account 21,096,391 3,000 + 805,999 Redemption fund for F. R. notes 848,149 + 2,885 + 5,021 Total gold certificate reserves 21,944,540 - 115 + 811,020 F. R. notes of other Banks 261,865 - 55,791 + 48,523 Other cash 312,775 - 28,214 - 28,775 Discounts and advances 1,106,313 + 282,266 + 536,229 Industrial loans 730 - 14 - 144 Acceptances: Bought outright 21,925 + 2,009 + 4,389 Held under repurchase agreement 890 + 890 + 890 U. S. Government securities: Bought outright- Bills 433,129 + 257,916 - 517,841 Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 Bonds 2,801,750 Total bought outright 23,168,491 + 257,916 - 670,841 Held under repurchase agreement 235,800 235,800 + 212,300 Total U. S. Government securities 23,404,291 + 493,716 - 458,541 Total loans and securities 24,534,149 + 778,867 + 82,823 Due from foreign banks 22 Uncollected cash items 5,022,827 201,198 + 320,274 Bank premises 79,274 + 104 + 11,488 Other assets 234,574 + 14,628 + 10,409 TOTAL ASSETS 52,390,026 508,281 +1,255,762 L I A B I L I T I E S Federal Reserve notes 26,893,492 + 358,177 + 407)920 Deposits: Member bank reserves 19,020,213 + 392,005 + 89,972 U. S. Treasurer—general account 552,312 + 96,788 + 102,864 Foreign 414,183 + 4,377 + 123,156 Other 264,477 7,688 - 22,099 Total deposits 20,251,185 + 485,482 + 293,893 Deferred availability cash items 3,854,649 - 339,967 + 445,522 Other liabilities and accrued dividends 15,641 - , 6,997 + ,771 TOTAL LIABILITIES 51,014,967 +496,695 +1,148,106 C A P I T AL A C C O U N TS Capital paid in 332,962 290 + 16,911 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 266,961 + 11,296 + 36,764 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,390,026 + 508,281 +1,255,762 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.5% + 1.09& Contingent liability on acceptances purchased for foreign correspondents 64,232 + 2,821 + 19,413 Industrial loan commitments 1.781 + _L 804 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 3, 1957 (Acceptances and securities held under repurchase agreement are classified 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 1,100,048 — 5T 6,966 366,250 16 days to 90 days 6,265 72 15,849 14,741,791 91 days to 1 year 407 5,506,993 Over 1 year to 5 years 190 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,24? Digitized for FRASER http://fraser.stlou T i o sf t ed a .o l rg / 1,106,313 730 22,815 23,404,291 Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANKS ON JULY 3. 1957 Phila- Cleve St. Minne- Kansas San Total Boston New York delphia land IRichmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,096,391 1090,395 5,636,948 1145,159 1819,314 1325,110 823,691 3834,993 845,041 368,314 835,609 785,482 2586,335 Redemption fund for F. R. notes 848.149 56.448 172.811 58.784 74.736 76.372 48.925 151.531 42.555 22.545 40.561 25.341 77.520 Total gold certificate reserves 21,944,540 1146,843 5,809,779 1203,943 1894,050 1401,482 872,616 3986,524 887,596 390,859 876,170 810,823 2663,855 F.R. notes of other Banks 261,865 11,479 50,956 15,885 16,587 13,713 63,292 23,304 8,292 9,491 5,095 19,904 23,867 Other cash 312,775 21,619 67,277 16,325 33,333 15,138 25,805 47,974 17,078 7,669 10,794 12,912 36,851 1,106,313 35,455 162,075 140,300 169,665 37,886 50,947 236,320 19,010 45,850 73,140 27,950 107,715 Discounts and advances 730 327 372 31 Industrial loans Acceptances: Bought outright 21,925 21,925 Held under rep. agree. 890 890 U. S. Govt, securities: Bought outright- Bills 433,129 23,626 108,318 25,282 38,045 27,674 22,434 75,603 17,912 9,347 18,596 16,974 49,318 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 2,801,750 152., 872040 ,664 163.547 246,100 179, ,012 115.866 60.462 120.288 109,798 319,019 Bonds 23,168,491 1263,749 5,794,000 1352,414 2035,074 1480,304 1200,058 958,133 499,976 994,693 907,950 2638,057 Total 235,800 235,800 Held under rep. agree. 23,404,291 1263,749 6.029.800 1352.414 2035.074 1480.304 1200,058 4044.083 958.133 499,976 994.693 907,950 2638,057 Total U. S. Govt, sees. 24,534,149 1299,531 6,214,690 1493,086 2204,739 1518,190 1251,005 4280,403 977,143 545,857 1067,833 935,900 2745,772 Total loans & securities 1/ 6 2 2 1 1 3 1 1 1 • , 1 2 Due from foreign banks 22 1 n 5,022,827 406,935 9677070 313,926 457,043 387,759 379,404 826,646 209,537 116,903 251,322 218,485 487,797 Uncollected cash items 79,274 5,184 10,174 4,648 9,051 7,179 5,473 6,490 5,460 5,219 4,728 5,099 10,569 Bank premises 234,574 12,676 57,380 13,478 20,699 14.846 12.206 42,398 9,512 4,961 9,992 9,766 26,660 Other assets 52,390,026 2904,268 13,177,332 3061,293 4635,504 3358,308 2609,802 9213,742 2114,619 1080,960 2225,935 2012,890 5995,373 TOTAL ASSETS $16,000 1J After deducting participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JULY 3, 1957 I Phi la- Cleve- , . St. Minne- Kansas San Total Boston J New York aelphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,893,492 1619,811 6,340,061 1714,804 2534,389 2122,133 1268,665 5185,641 1189,446 481,792 1066,626 690,145 2679,979 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,020,213 835,703 5,348,227 918,119 1539,037 825,894 913,466 3065,809 672,251 429,604 854,563 1022,986 2594,554 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 552,312 41,677 129,267 42,438 33,049 6,149 26,498 77,677 24,574 24,121 41,769 15,232 89,861 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 414,183 24,012 1/116,517 28,980 37,260 21,114 18,630 58,788 15,318 9,936 15,732 21,528 46,368 OOOOOttttthhhhheeeeerrrrr 264,477 729 " 204,390 11,201 1,828 2,266 1,623 937 781 4o6 1,187 2,526 36,603 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,251,105 902,121 5,790,401 1000,730 1611,174 055,423 960,217 3203,211 712,924 464,067 913,251 1062,272 2767,386 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,854,649 301,434 657,739 249,748 365,161 306,808 316,134 621,326 158,615 100,209 190,510 191,343 395,622 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 15,641 769 6,092 568 1,951 537 500 2,657 4l6 475 483 390 803 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,014,967 2824,135 12,802,293 2965,858 4512,675 3284,901 2545,516 9012,835 2061,401 1046,543 2170,870 1944,150 5843,790 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 332,962 17,162 95,204 21,089 32,010 15,338 16,146 45,552 11,382 7,313 13,558 18,715 39,493 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o 266,961 16,012 64,514 17,556 23,420 17,126 14,199 43,505 11,984 7,511 12,387 11,210 27,537 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAAMMMMMDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,390,026 2904,268 13,177,332 3061,293 4635,504 3358,308 2609,802 9213,742 2114,619 1080,960 2225,935 2012,890 5995,373 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 64,232 3,729 2/18,000 4,501 5,787 3,279 2,894 9,131 2,379 1,543 2,443 3,344 7,202 — — 37 14 —— — — 82 —— — — 1,648 —— —— IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,781 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,730,210 1661,418 6,552,509 1772,614 2599,103 2171,189 1313,996 5206,206 1236,032 531,417 1000,961 732,620 2791,905 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 580,000 3,170,000 640,000 1130,000 895,000 400,000 2400,000 450,000 130,000 300,000 283,000 1500,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,878,000 - - — 140,300 -- — -- — 19,010 -- 73, l4o -- EElliiggiibbllee ppaappeerr 232,450 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17^0,000 '6,770,600 1980,300 2630,000 2205,000 1400,000 5400,000 1344,010 555,000 1193,140 008,000 3000,000 TToottaall ccoollllaatteerraall 29,015,450 1/ After deducting $297,6*5 6,000 participations of other Federa lReserve Banks. 2/ After deducting $46,2; 52,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis