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 18, 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 17 decreased $108 million to $19,200 million. Estimated required reserves decreased $60 million; and estimated excess reserves decreased $48 million to $515 million. Member bank "borrowings at the Federal Reserve Banks exceeded excess $650 reserves by $544 million, compared with million the week before. The principal changes reducing average reserves were decreases of $154 million in member bank borrowing sand $124 million in Federal Reserve holdings of U. S. Government securities, and increases of $74 million in foreign deposits with Federal Reserve Banks and $24 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $125 million in Federal Reserve flogLt^ and a decrease of $130 million in money in circulation. Total Reserve B&nk credit decreased $151 Mllion. As of Wednesday, July 17, holdings of U. S. Government securities bought outright were $17 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $27 million higher, and member bank borrowings were $264 million lower. Averages of daily figures Member bank reserves, Reserve Bank credit, For week ending Hhange frnm week ending and related items July 17. 1957 •Tulv 10. 1957 I July 18..JL956 In millions of dollars) Reserve Bank credit: U, S, Government securities— - 8 Bought outright--System account 23,252 -235 -116 + 64 Held under repurchase agreement 67 Acceptances— + 6 Bought outright 23 + 1 Held under repurchase agreement - 1 Loans, discounts, and advances— +210 Member bank borrowings 1,059 -154 + 2 Other 3 + 2 -176 Float 1*223 6 +125 -128 Total Reserve Bank credit 25,W6l4 1 -151 + 2 +798 Gold stock 22,625 Treasury currency outstanding 2,108 -»** + 77 53,373 -150 +746 Money in circulation 31,18/** -130 +375 Treasury cash holdings 770 + 5 + 2 Treasury deposits with F, R. Banks 455 + 24 -l4o Foreign deposits with F, R. Banks 413 + 74 + 93 Other deposits with F, R. Banks 279 - 11 + 1 + 86 Other F. R. accounts (net) 1,073 - 4 34,173 - 42 +415 Member bank reserves-- -108 +331 Required reserves (estimated) - 60 Excess reserves (estimated) 515 - 48 -114 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 22,625 Treasury cash holdings 778 18,726 Treasury currency outstanding 5,108 Member bank) - Required (est,) Money in circulation 31?071 reserves ) - Excess (est,) 221 On July 17, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,661 million, a decrease of Digitized$ f2or0 F4R AmSEiRl lion for the week an da decrease of $28 million from the comparable date http://fraase r.ysteloauirsf eda.gorog/. Federal Reserve Bank of St. Louis

HiWl(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 17, July 10, July 18, 1957 1957 1956 A S S E TS + 809,998 Gold certificate account 21,095,392 999 Redemption fund for F. R» notes 845.668 2,481 8,441 Total gold certificate reserves 21,941,060 3,480 + 801,557 F, R. notes of other Banks 354,373 K 46,762 + 46,575 Other cash 355,483 k 25,064 20,462 Discounts and advances 643,795 - 264,465 191,935 Industrial loans 651 103 263 Acceptances--bought outright 22,923 5,807 U. S. Government securities: Bought outright- Bills 571,279 + 17,250 - 24,691 Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 Bonds - MO 1,750 Total bought outright 23,306,641 + 17,250 ~ 177,691 Held under repurchase agreement 67,5pO +_ 27,300 + 67.500 Total U. S« Government securities 23,374,141 + 44,550 - 110.191 Total loans and securities 24,041,510 - 220,018 + 87,288 Due from foreign banks 22 Uncollected cash items 5,940,437 +1,287,075 + 429,061 Bank premises 79,592 + 180 + 10,345 Other assets 260,831 + 12.935 + 15,793 TOTAL ASSETS 52.973.308 +1.148,518 +1,370,157 l i a b i l i t i es Federal Reserve notes 26,766,552 - 85,730 + 324,297 Deposits: Member bank reserves 18,946,885 + 78,945 + 162,716 U. S. Treasurer--general account 526,852 + 119,284 + 49,776 Foreign 453,509 + 108,993 + 164,893 Other 266,561 - 12,571 * 7.584 Total deposits 20,193,807 + 294,651 + 369,801 Deferred availability cash items 4,599,602 + 927,666 + 562,901 Other liabilities and accrued dividends + J34 hm TOTAL LIABILITIES 51,575,899 +1,137,321 +1,258,278 C A P I T AL A C C O U N TS Capital paid in 333,275 196 + 16,448 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 288,998 + 11.001 + 41.450 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,973,308 +1.148.518 +1.370.157 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.7# .2# 1.0# Contingent liability on acceptances purchased for foreign correspondents 63,910 1,006 19,056 Industrial loan commitments 1.758 1 715 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 17, 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 639,805 103 7,699 8,050,781 16 days to 90 days 3,990 35 15,224 7,027,110 91 days to 1 year -- 332 — 5,506,993 Over 1 year to 5 years — 181 -- 680,635 Over 5 years to 10 year -- -- -- 750,375 Over 10 years -- -- — 1,358,247 Total 643,795 651 22,923 23,374,141 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.KW STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JULY 17. 1957 Phila- St. Minne- Kansas San Total Boston New York cuS" 1 ^ " ™^ Atlanta Chicago Dallas delphia Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,095,392 1070,264 5,645,963 1117,878 1845,890 1324,867 857,753 3692,408 860,681 363,068 991188,,002299 778,556 2620,035 Redemption fund for 172,120 F. R. notes 845,668 5566,,226611 58,478 75,415 75,396 48,768 151,184 42,450 22,517 40,470 25,274 77,335 Total gold certificate 5,818,083 906,521 reserves 21,941,060 1126,525 1176,356 1921,305 1400,263 3843,592 903,131 385,585 958,499 803,830 2697,370 69,908 27,615 F.R. notes of other Banks 354,373 21,440 73,270 31,381 19,627 21,142 9,950 15,159 8,300 20,315 36,266 18,672 Other cash 355,483 23,578 83,552 33,998 17,125 29,581 52,509 18,708 7,578 12,079 13,820 44,283 Discounts and advances 643,795 15,450 101,350 76,155 145,955 22,975 26,720 131,390 3,300 27,450 44,000 15,350 33,700 294 Industrial loans 651 327 — -- -- 30 " Acceptances-- 22,923 Bought outright 22,923 • — — -- — — —- -- " - - U. S. Govt, securities i Bought outright- Bills 571,279 3311,,116611 114422,,886666 33,347 50,180 3366,,550011 29,590 99,718 23,625 12,328 24,527 22,388 65,048 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 23,306,641 1271,284 5,828,548 1360,479 2047,209 1489,131 1207,214 4068,198 963,846 502,957 1000,624 913,364 2653,787 Held under repurchase - agreement 67.500 — — 67.500 — — — — . — — — — •» «•> — a* —» Total U. S. Govt. sees. 23,374.141 1271.284 5.896.048 1360.479 2047.209 1489.111 1207.214 4068.198 961.846 502.957 1000.624 911.164 2651.787 Total loans & securities 24,041,510 1287,061 6,020,321 1436,928 2193,164 1512,106 1233,934 4199,588 967,146 530,437 io44,624 928,714 2687,487 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,940,437 497,757 1,119,925 363,428 563,568 440,440 463,967 974,026 246,331 149,398 264,220 267,087 590,290 Bank premises 79,592 5,184 10,186 4,648 9,052 7,179 5,515 6,496 5,464 5,121 4,743 5,435 10,569 Other assets 260.831 13,932 64.068 14.920 22.854 16.455 13.484 47.056 10.582 5*633 11.086 11.001 29.760 TOTAL ASSETS 52,973,308 2975,478 13,189,411 3046,335 4763,570 3414,711 2722,911 9150,885 2161,313 1098,912 2303,552 2050,203 6096,027 1/ After deducting $16,000 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 FEDERAL RESERVE BANK ON JULY 17, 1957 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 26,766,552 1610,311 6,284,808 1702,091 2537,641 2108,517 1257,630 5183,346 1188,487 478,612 1064,972 694,782 2655,355 Deposits: Member "bank reserves 18,946,885 894,760 5,289,691 890,540 1569,218 820,096 957,200 2867,102 688,024 428,368 903,306 100?,848 2630,732 U.S.Treas.-gen.acct. 526,852 32,457 90,071 32,268 39,966 34,992 39,743 70,259 20,825 21,309 43,810 36,231 64,921 Foreign 453,509 25,868 1/132,835 31,220 4o,l4o 22,746 20,070 63,332 16,502 10,704 16,948 23,192 49,952 Other 266,561 348 211,064 10,090 1,323 2,753 1,269 1,289 1,139 279 888 2,4li 33,708 Total deposits 20,193,807 953,433 5,723,661 964,11b 1650,647 bbo,5«7 I0itt,2«2 3001,982 726,490 460,660 964,952 1009,602 2779,313 Deferred availability cash items 4,599,602 329,588 795,506 282,641 447,494 350,246 381,100 758,004 191,872 124,4i8 217,096 215,458 506,179 Other liabilities and accrued dividends H438 904 4,475 656 2,874 597 549 2,666 457 429 514 640 1,177 TOTAL LIABILITIES 51,575,899 2894,236 12,800,450 2949,506 4638,656 3339,947 2657,561 0945,99% 2107,306 1064,119 2247,53^ 1980,562 5942^024 CAPITAL ACCOUNTS Capital paid in 333,275 17,165 95,252 21,099 32,o64 15,342 16,159 45,576 11,384 7,321 13,571 18,816 39,526 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 288,998 17,118 70,388 18,940 25,451 18,479 15,250 47,461 12,771 7,879 13,327 12,010 29,924 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,973,308 2975,478 13,189,411 3046,335 4763,570 3414,711 2722,911 9150,885 2161,313 1098,912 2303,552 2050,203 6096,027 Conting. liab. on acceptances purchased for foreign correspondents 63,910 3,706 2/17,966 4,473 5,751 3,259 2,875 9,074 2,364 1,534 2,428 3,323 7,157 Industrial loan commit. 1,7581 15 13 82 1,648 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,765,137 1660,287 6,528,734 1775,009 2614,196 2173,741 1322,236 5281,695 1235,410 530,253 1093,379 749,518 2800,679 Collat. for F. R. notes: Gold certificate acct. 11,878,000 580,000 3,170,000 640,000 1130,000 895,000 400,000 2400,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 116,455 --- 69,155 — — -- -- 3,300 —— 44,000 —— —— U. S. Govt, securities 16,955,000 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 Total collateral 28,949,455 1730,000 6,770,000 1909,155 2680,000 2205,000 1400,000 5400,000 1328,300 555,000 1164,000 808,000 3000,000 l/ After deducting $320,674,000 participations of other Federal Reserve Banks, 2/ After deducting $45,944,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis