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 25, 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 24 decreased $11 million to $19,189 million. Estimated required reserves decreased $63 million; and estimated excess reserves increased $52 million to $567 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $172 million, compared with $544 million the week before. The principal changes reducing average reserves were a decrease of $320 million in member bank borrowings and an increase of $52 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $115 million in Federal Reserve float and $23 million in Federal Reserve holdings of U. S. Government securities, and decreases of $184 million in money in circulation and $28 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $185 million. As of Wednesday, July 24, holdings of U. S. Government securities bought outright were $122 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $208 million higher, and member bank borrowings were $238 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 24, 1957 lJuly 17. 1957 I July 25, 195T (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,235 - 17 -173 Held under repurchase agreement 107 + 40 +107 Acceptances—bought outright 23 -- + 5 Loans, discounts, and advances- +166 Member bank borrowings 739 -320 - 2 Other Float J 4 51 +115 - 42 TZ3 Total Reserve Bank credit 25,456 HS5 Gold stock 22,625 +797 Treasury currency outstanding 5,108 * w + 76 53,190 +937 Money in circulation 30,999 -184 +367 Treasury cash holdings 774 + 4 + 1 Treasury deposits with F. R, Banks 507 + 52 - 49 Foreign deposits with F. R. Banks 385 - 28 + 97 Other deposits with F. R. Banks 267 - 12 mmm Other F. R. accounts (net) 1,070 - 3 + 76 34,001 -172 ^91 Member bank reserves- 19,189 - 11 +445 Required reserves (estimated) 18,622 TT3 ^35 Excess reserves (estimated) 567 + 52 + 10 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 22,626 Treasury cash holdings 779 Treasury currency outstanding 5»10'8r^/ Member bank) - Required (est.) 18,589 Money in circulation 30,903 reserves ) - Excess (est.) 170 On July 24, 1957# U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,727 million, an increase of $66 million for the week and an increase of $31 million from the comparable date a year ago. Digitized for FRASER 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 24, July 17, July 25, 1957 1??6 A S S E TS Gold certificate account 21,095,394 2 + 812,002 Redemption fund for F. R. notes 842,586 3,082 - 13,402 Total gold certificate reserves 21,937,960 : s t o Bo + 798,600 F. R. notes of other Banks 396,836 + 42,463 + 51,313 Other cash 376,822 + 21,339 15,333 Discounts and advances 405,876 237,919 55,512 Industrial loans 560 91 349 Acceptances—bought outright 21,541 1,382 4,425 U. S. Government securities: Bought outright- Bills 449,579 - 121,700 - 28,791 Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 AS:3S Bonds Total bought outright - 121,700 - 181,791 Held under repurchase agreement 27?,8po + 208,300 + 275,800 Total U, S. Government securities 23,460,741 + 86,600 + 94,009 Total loans and securities 23,888,718 - 152,792 + 42,573 Due from foreign banks 22 Uncollected cash items 4,809,641 -1,130,796 + 192,576 Bank premises 80,362 + 770 + 10,856 Other assets 275,161 + 14,330 + 84,410 TOTAL ASSETS 51,765,542 -1,207,766 +1,164,995 L I A B I L I T I ES Federal Reserve notes 26,659,278 - 107,274 + 332)804 Deposits: Member bank reserves 18,759,432 - 187,453 444,074 U. S. Treasurer--general account 469,435 - 57,417 121,193 Foreign 383,004 - 70,505 + 121,204 Other 277,406 i- 10,845 + 16,526 Total deposits 19,889,277 - 304,530 + 460,611 Deferred availability cash items 3,793,989 - 805,613 + 257,683 Other liabilities and accrued dividends 14,031 - 1,907 + 146 TOTAL LIABILITIES 50,356,575 -1,219,32% +1,051,244 C A P I T AL A C C O U N TS Capital paid in 333,940 665 + 16,769 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 299,891 + 10,893 + 43,001 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,765,542 -1,207,766 +1,164,995 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.1# .Sfa Contingent liability on acceptances purchased for foreign correspondents 67,321 + 3,411 21,153 Industrial loan commitments 1,843 + 85. 652 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 24; 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 396,316 60 7,840 8,229,981 16 days to 90 days 9,560 71 13,701 6,934,510 91 days to 1 year 248 5,506,993 Over 1 year to 5 years 181 680,635 Over 5 years to 10 years 750,375 Over 10 years Total 405,876 355 21,541 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.lCb) STATEMENT OF CONDITIO# OF EACH FEDERAL RESERVE BANK ON JULY 24. 1957 Phila Cleve- St. Minne- Kansas San Total Boston 1 New York Richmond Atlanta Chicago Dallas delphia land Louis apolls city Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,095,394 1002,463 5,618,137 1158,489 1939,212 1320,197 823,161 3829,343 863,718 358,224 905,379 797,070 2480,001 Redemption fund for F. R. notes 842,586 56,106 171,463 58,218 75,133 74,501 48,637 150,882 42,378 22,496 40,396 25,220 77.156 Total gold certificate reserves 21,937,980 1058,569 5,789,600 1216,707 2014,345 1394,698 871,798 3980,225 906,096 380,720 945,775 822,290 2557,157 F.R. notes of other Banks 396,836 27,164 75,310 38,379 22,921 26,474 77,923 29,977 12,826 17,812 10,272 20,382 37,396 Other cash 376,822 25,859 87,025 20,573 36,218 20,287 29,141 54,690 20,484 7,736 12,677 15,483 46,649 Discounts and advances 405,876 24,116 32,075 36,575 55,220 23,535 23,620 121,040 11,750 27,670 27,775 19,400 3,100 Industrial loans 560 327 203 30 Acceptances— Bought outright 21,541 21,541 U« S. Govt, securities: Bought outright— Bills 449,579 24,523 112,431 26,243 39,490 28,725 23,286 78,475 18,592 9,702 19,302 17,619 51,191 Certificates 11,362,199 619,763 .2 ,,841,4 7.0 663,246 9„9„8 ,.0 3_3_ 578285,,592685 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 r 15 & 2 \ ,8 . 274 d 7 s 0 . 0, d 6 6 c 4 HM 1 1 ' 6 w 3 e ,547 246,1 00 ' C 1 I 7 9 n , 0 o 1 c 2 c 1 4 t 5 .X , l 1 . 2 f' 2 mc c 489,048 115,866 nc 6 f 0 i , 'f 4 t 6 i 2 o c o 1 a 2 'T 0 , . - 2 , 88 A 1 r 09 . / o 79 ' 8 i - 31 Z 9 r ^0 - 19 Total 23,184,941 1264,646 5,798,113 1353,375 2036,519 1481,355 1200,910 4046,955 958,813 500,331 995,399 908,595 2639,930 Held under repurchase agreement 275,800 275,800 Total U. S. Govt, sees. 23.460.741 1264,646 6,073,913 1353,375 2036,519 1481,355 1200,910 4046,955 958,813 500.331 995.399 908.595 2639.930 Total loans & securities 23,888,718 1289,089 6,127,529 1390,153 2091,739 1504,890 1224,530 4167,995 970,563 528,031 1023,174 927,995 2643,030 Due from foreign hanks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,809,641 428,679 839,728 292,188 429,482 379,214 392,579 764,232 192,793 124,070 226,597 248,201 491,878 Bank premises 80,362 5,184 10,361 4,625 9,022 7,153 5,634 6,496 5,464 5,121 4,761 5,458 11,083 Other assets 275.161 14,746 69,243 15,604 24,055 17,248 14,220 49,303 11,071 5.976 11.605 11.511 10.579 TOTAL ASSETS 51,765,542 2849,291 12,998,802 2978,231 4627,784 3349,965 2615,826 9052,921 2119,298 1069,467 2234,862 2051,321 5817,774 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 24, 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 26,659,278 1600,908 6,270,893 1698,771 2531,756 2096,015 1245,535 5175,214 1182,315 475,219 1059,162 694,380 2629,110 Deposits: Member "bank reserves 18,759,432 838,360 5,354,097 874,988 1537,555 808,984 917,102 2967,780 685,732 410,604 871,705 1002,882 2489,643 U.S.Treas.-gen.acct. 469,435 25,181 79,870 30,157 35,232 40,756 34,119 37,360 28,112 28,459 32,359 49,754 48,076 Foreign 383,004 21,692 1/114,098 26,180 33,660 19,074 16,830 53,108 13,838 8,976 14,212 19,448 41,888 Other 277,406 566 212,752 10,078 1,215 2,137 1,670 2,353 3,294 1,337 3,031 2,391 36,582 Total deposits 19,889,277 885,799 5,760,817 941,403 1607,662 070,951 969,721 3060,601 730,976 449,376 921,307 1074,475 2616,189 Deferred availability cash items 3,793,989 279,878 579,383 240,054 360,679 306,880 334,039 607,676 151,027 109,398 197,304 211,689 415,982 Other liabilities and accrued dividends 14,031 916 3,389 533 1,830 678 662 2,449 533 454 578 737 1,272 TOTAL LIABILITIES 50,35b,575 2767,501 12,614,482 2000,761 4501,927 jzf4,>z4 z>4%,957 864>,y4o 2064,851 1034,447 2178,351 1981,281 5662,553 CAPITAL ACCOUNTS Capital paid in 333,940 17,168 95,791 21,105 32,069 15,350 16,179 45,645 11,385 7,321 13,575 18,818 39,534 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 299,891 17,663 73,208 19,575 26,389 19,148 15,749 49,486 13,210 8,ic6 13,816 12,407 31,134 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,765,542 2849,291 12,998,802 2978,231 4627,784 3349,965 2615,826 9052,921 2119,298 1069,467 2234,862 2051,321 5817,774 Conting. liab. on acceptances purchased for 3,417 3,015 2,479 1,608 2,546 3,484 7,504 Industrial loan commit. l,G4j J.UV 1J -- v«- r~ FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,686,127 1658,003 6,523,155 1769,850 2603,583 2169,000 1314,973 5264,003 1229,700 520,203 1009,174 747,43& 2706,157 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 EElliiggiibbllee ppaappeerr 76,10C -- — 36,575 — -- -- — 11,750 — 27,775 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess l6,955,00C TToottaall ccoollllaatteerraall 28,909,ioq ^ 1730,000 ' 6,770,000 1876,575 2680,000 2205,000 1400,000 5400,000 1336,750 555,000 114y,775 800,000 3000,00O 1/ After deducting $268,906,000 participations of other Federal Reserve Banks. 2/ After deducting $48,173,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis