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 11, 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 10 increased $443 million to $19,308 million. Estimated required reserves increased $208 million; and estimated excess reserves increased $235 million to $581 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $632 million, compared with $721 million the week before. The principal changes supplying average reserves were increases of $3^5 million in Federal Reserve holdings of U, S. Government securities and $146 million in member bank borrowings, and decreases of $115 million in Treasury deposits with Federal Reserve Banks and $81 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of , $167 million in money in circulation and a decrease of $87 million in Federal Reserve float. Total Reserve Bank credit increased $405 million. As of Wednesday, July 10, holdings of U. S. Government securities bought outright were $121 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $196 million lower, and member bank borrowings were $198 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 10. 1957 July 3. 1957 I July 11, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,260 +229 -566 Held under repurchase agreement 183 +116 +173 Acceptances-- Bought outright 22 + 5 Held under repurchase agreement 1 + 1 Loans, discounts, and advances-- Member bank borrowings 1,213 +146 +334 Other 1 - 1 Float 1,111 - 87 - 58 Total Reserve Bank credit 25,792 +405 -111 Gold stock 22,623 +797 Treasury currency outstanding 5,108 + 2 ±71 53,523 +407 +763 Money in circulation 31,313 +167 +390 Treasury cash holdings 765 - 5 Treasury deposits with F. R. Banks 431 -115 - 6 Foreign deposits with F. R. Banks 339 - 81 + 30 Other deposits with F. R. Banks 290 6 Other F. R. accounts (net) 1,077 + 87 34,215 +595 Member bank reserves— 19.308 +443 +268 Required reserves (estimated) 18,727 +208 +442 Excess reserves (estimated) 581 +235 -174 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 22,624 Treasury cash holdings 767 Treasury currency outstanding 5,108 Member bank) - Required (est.) 18,711 Money in circulation 31,235 reserves ) - Excess (est.) 157 On July 10, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,865 million, an increase of $107 million for the week and an increase of $239 million from the comparable Digitized for FRASER date a year 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 10, July 3, July 11, 1957 1957 1956 A S S E TS 21,096,391 + 810,998 Gold certificate account Redemption fund for F. R. notes 848,149 «•> «• - 7.347 2)~9a>0 + 803,651 Total gold certificate reserves 307,611 + 45,746 + 44,164 F. R. notes of other Banks Other cash 330,419 + 17,644 - 23,005 Discounts and advances 908,260 - 198,053 + 255,711 Industrial loans 754 + 24 - 152 Acceptances: Bought outright 22,923 + 998 + 5,691 Held under repurchase agreement - 890 U. S, Government securities: Bought outright-- Bills 554,029 + 120,900 206,641 Certificates 11,362,199 -- + 429,500 Notes 8,571,413 • 582,500 Bonds 2,801.750 Total bought outright 23,289,391 + 120,900 - 359,641 Held under repurchase agreement 40,200 - 195,600 4- 38,700 Total U. S. Government securities 23,329,591 - 74,700 - 320,941 Total loans and securities 24,261,528 - 272,621 - 59,691 Due from foreign banks 22 Uncollected cash items 4,653,362 369,465 • 106,549 Bank premises 79,412 + 138 4- 11,5U Other assets 247,896 + 13,322 + 12.586 TOTAL ASSETS 51,824,790 - 565:236 + 682.667 L I A B I L I T I ES Federal Reserve notes 26,852,282 - 41,210 + 339,814 Deposits: Member bank reserves 18,867,940 • 152,273 4- 244,978 U. S. Treasurer--general account 407,568 - 144,744 86,759 Foreign 344,516 - 69,667 + 18,263 Other 279,132 + 14,655 - 5.582 Total deposits 19,899,156 • 352,029 4- 170,900 Deferred availability cash items 3,671,936 - 182,713 •> 61,859 Other liabilities and accrued dividends 15.204 - 437 4- 523 TOTAL LIABILITIES 50,438^578 - 576,389 4- 573,096 C A P I T AL A C C O U N TS Capital paid in 333,079 + 117 + 16,558 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 277,997 + 11,036 + 39,032 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,824,790 - 965,236 4- 682,667 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9$ + .4% 4- 1,2# Contingent liability on acceptances purchased for foreign correspondents 64,916 4- 684 + 20,224 Industrial loan commitments 1,757 - 2k ~ 761 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 10, 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 903,295 6,921 164,166 16 days to 90 days 4,965 72 16,002 14,869,175 91 days to 1 year 431 5,506,993 Over 1 year to 5 years 190 680,635 Over 5 years to 10 years 750,375 Over 10 years 1.358,247 Digitized for FRASER Total 908,260 75* 22,923 23,329,591 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERftli RESEBTO! BAlBCQIf' 3ULY10,1957 E.4.1(b) Total Boston New York d P el h p i h la ia - C l l a e n v d e- Richmond Atlanta Chicago L S o t u . is # a i p n o n l e i - s K C a i n t s y as Pallas Fra S n a c n is co "fin thousands of dollars) A S S E TS 1027,535 5,762,123 1088,691 1797,229 1326,222 850,104 3825,317 866,334 387,282 867,40q 773,131 2525,016 Gold certificate account 21,096,391 Redemption fund for 56.448 172.831 58,784 74,736 76,372 48,925 151,531 42,555 22,545 40,561 25,341 77,520 F, R. notes 848,149 Total gold certificate 1083,983 5,934,954 1147,475 1871,965 1402,594 899,029 3976,848 908,889 409,827 907,968 798,472 2602,536 reserves 21,944,540 F.R. notes of other Banks 307,611 14,561 63,542 22,539 16,752 17,288 65,489 26,401 9,390 10,374 7,900 20,734 32,241 Other cash 330,419 21,730 77,257 16,935 33,106 15,043 25,636 48,315 18,027 6,955 11,371 14,200 41,844 Discounts and advances 908,260 47,830 175,075 147,275 197,560 34,505 27,970 114,115 11,600 17,590 68,490 36,150 30,100 31 Industrial loans 754 327 396 Acceptances- Bought outright 22,923 22,923 U. S. Govt, securities; Bought outright— ill IIIIII fil lI g 1 ffH Bills 554,029 30,220 Certificates 11,362,199 619,763 Notes 8,571,413 467,536 Bonds 2,801,750 152,824 Total 23,209,391 1270,343 Held under repurchase agreement 40,200 40,200 1270,343 5,864,434 1359,472 2045,694 1488,029 1206,321 4065,186 963,133 502,585 999,883 912,688 2651,823 Total U. S. Govt, sees. 23.329,591 1318,500 6,062,432 1507,143 2243,254 1522,534 1234,291 4179,301 974,733 520,206 1068,373 948,838 2681,923 Total loans & securities 24^261,528 Due from foreign banks 22 1 30 S;i Toi % 37 °; g 75 l6; i 2 1:i 20 °; i« Uncollected cash items 4,653,362 401,389 Bank premises 79,412 5,184 60(588 14,167 21.522 15.745 12,810 45,206 10,045 5,330 10,577 10,307—28,262 Other assets 247,896 13.337 2858,685 13,037,989 3013,711 4594,921 3349,584 2612,827 9033,507 2121,531 1083,015 2236,982 1998,243 5883,795 TOTAL ASSETS 51,824,790 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 FEDERAL RESERVE BANK ON JULY 10, 1957 R.4.1(c) Phila- Cleve- — • r— > gtT~ 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 FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,852,282 1621,350 6,305,436 1708,560 2539,453 2117,523 1265,530 5186,177 1188,680 481,016 1067,913 692,843 2677,801 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,867,940 846,352 5,355,967 911,912 1539,337 801,798 934,368 2967,732 687,165 427,204 866,403 1001,440 2528,262 23,220 50,453 31,445 31,791 36,730 22,308 34,144 24,543 24,437 53,437 36,686 38,374 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 407,568 19,256 1/105,808 23,240 29,880 16,932 14,940 47,144 12,284 7,968 12,616 17,264 37,184 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 344,516 737 220,190 10,642 1,243 3,136 1,390 1,510 635 453 1.018 2,6o6 __ 35,572 OOOOOttttthhhhheeeeerrrrr 279,132 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,899,156 889,565 5,732,418 977,239 1602,251 858,596 973,006 3050,530 724,627 460,062 933,474 1057,996 2639,392 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 266,232 617,712 231,144 327,696 298,630 308,866 591,220 154,059 106,850 179,188 177,699 412,640 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,671,936 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 852 4.393 630 1,670 743 584 2,680 535 524 827 559 1,207 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 15,204 12777,99T12,659,959 2917,573 4471,070 3275,492 2547,986 8830,607 2067,901 1040,452 2181,402 1929,097 5731,040 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,430,570 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 17,164 95,219 21,098 32,058 15,341 16,154 45,561 11,383 7,320 13,562 18,721 39,498 CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 333,079 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 77777))))) 747,593 3 Oil 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 16^563 67]490 18,250 24,394 17,808 14,746 45,489 12,395 7,650 12,898 11,610 28,704 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 277,997 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,824,790 2858,685 13,037,989 3013,711 4594,921 3349,584 2612,827 9033,507 2121,531 1083,015 2236,982 1998,243 5883,795 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 64,916 3,764 2/18,252 4,543 5,841 3,310 2,921 9,216 2,401 1,558 2,466 3,375 7,269 14 13 -- -- 82 -- -- 1,648 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,757 r iSJUJMXHl inl!iO.Dnv& HKjsitriio . , — 1662,090 6,549,894 1774,893 2611,577 2179,490 1324,101 5290,706 1239,650 530,129 1088,669 740,374 2005,219 F, R. notes outstanding 27,796,000 Collat. for F. R. notes: 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 Gold certificate acct. 11,878,000 147,275 -- — — — 11,600 — 68,490 Eligible paper 227,365 1150 000 3,600,000 1200,000 1550,000 1310,000 1000,000 3000,000 875,000 425,000 820,000 525,000 1500,000 U. S. Govt, securities 16,955,000 r *£ T~7r\ r\r\r\ in(h o7c nnn nno 1 liOO nno ^4oo 000 1^^6-600 SS5.000 1188.490 808,000 3000*000 Total collateral 29,060,365 1730 000 0,7T0,U00 lyo( ,c(5 coou,uuu c.cx>i.uuu i.tuv,vuu • * - J — jt / —i-i-—' . «• t •• • • 1/ After deducting $238,7( )8,000 part: Lcipations of other Federal Reserve Banks. 2/ After deducting $46,6( 54,000 part: Lcipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis