H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF idVtitiNORS For Immediate Release H.4.1 Of THE FEDERAL RESERVE SYSTEM August 1, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAH CREDIT, AM) 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 31 decreased $304 million to $18,88$ million. Estimated required reserves decreased $89 million; and estimated excess reserves decreased $215 million to $352 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $201 million, compared with $172 million the week before. The principal changes reducing average reserves were decreases of $353 million in Federal Reserve float, $186 million in member bank borrowings, and $151 million in U, S. Government securities bought outright. The principal offsetting changes were an increase of $169 million in U. S. Government securities held under repurchase agreement, and decreases of $109 million in "other" F. R. accounts (net) and $90 million in money in circulation. Total Reserve Bank credit decreased $524 million. As of Wednesday, July 31, holdings of U. S. Government securities bought outright were $106 million lower than a week earlier and member bank borrowings were $14 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items July 31, 1957 July 24, 1957 I Aug. 1, 195b (IIn millions of dollars) Reserve Bank credit; U. S. Government securities— Bought outright—System account 23,084 -151 -334 Held under repurchase agreement 276 +169 +276 Acceptances--bought outright 21 - 2 + 3 Loans, discounts, and advances- Member bank borrowings 553 -186 -137 Other 1 Float 998 -353 - 48 Total Reserve Bank credit 25^932" -524 -240 Gold stock 22,626 + 1 +797 Treasury currency outstanding 5,110 + 2 + 76 52,668 -522 +633 Money in circulation 30, - 90 +334 Treasury cash holdings 773T"6* - 3 - 1 Treasury deposits with F. R. Banks 494 - 13 - 25 Foreign deposits with F. R. Banks 370 - 15 + 86 Other deposits with F. R. Banks 278 + 11 + 5 Other F. R, accounts (net) 961 -109 - 60 33,783 -218 +339 Member bank reserves- 18,885 -304 +294 Required reserves (estimated) 18,533 - 89 +4l8 Excess reserves (estimated) 352 -215 -124 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*7 Treasury cash holdings 7#f ' ' Treasury currency outstanding 5,112*/ Member bank) - Required (est.) 18,561 Money in circulation 30,989"S3 reserves ) - Excess (est.) 69 On July 31# 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,730 million, an increase of $3 million for the week and an increase of $51 million from the comparable date Digitized afo r FyReAaSrE Ra go. 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 31, July 24, Aug, 1, 1957 1957 1956 A SS E TS + 809,001 Gold certificate account 21,105,392 9,998 Redemption fund for F. R. notes 840,758 1,828 - 14,023 Total gold certificate reserves 21,946,150 + 79C975 F. R. notes of other Banks 384,176 12,660 + 48,736 - 10,456 Other cash 386,694 + 9,872 Discounts and advances 420,262 + 14,386 1,823 Industrial loans 608 + 48 353 Acceptances—bought outright 19,431 2,110 + 2,318 U. S. Government securities: Bought outright — - 106,016 Bills 343,563 - 185,807 Certificates 11,362,199 + 429,500 - 582,500 Notes 8,571,413 Bonds Total bought outright 23,078,925 - 106,016 - 338,807 Held under repurchase agreement 275,800 + 275,800 Total U. S. Government securities 23,354,725 - 106,016 - 63,007 62,865 Total loans and securities 23,795,026 93,692 22 Due from foreign banks + 281,507 Uncollected cash items 4,872,763 + 63,122 Bank premises 80,425 + 63 + 10,740 Other assets 288,187 + 13,02..6. + 86,184 TOTAL ASSETS 51.753.4H 12,099 +1,148,824 L I A B I L I T I ES Federal Reserve notes 26,671,496 + 12,218 + 307,518 Deposits: 18,630,266 • 129,166 Member bank reserves + 307,973 U. S. Treasurer--general account 504,451 + 35,016 401 - 18,891 + 69,363 Foreign 364,113 Other 296,158 + 2 9^ Total deposits 19,794,988 - 9^289 + 406,230 Deferred availability cash items 3,976,349 + 182,360 + 345,856 Other liabilities and accrued dividends , 13,925 106 + 22 TOTAL LIABILITIES 50,456,758 + 100,193 +1,059,626 C A P I T AL A C C O U N TS Capital paid in 337,634 + 3,694 + 20,166 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 183,915 - 115,976 + 15,0^1 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,753,443 - 12,099 +1,148,824 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.256 + .1# + 1,0# Contingent liability on acceptances purchased for foreign correspondents 70,148 + 2,827 + 22,226 Industrial loan commitments 1.795. 48 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 31, 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 409,852 69 7,848 8,188,965 16 days to 90 days 10,410 64 11,583 6,869,510 91 days to 1 year 294 5,506,993 Over 1 year to 5 years 181 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 420,262 .535 19,431 23,354,725 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JULY 31, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,105,392 1002,759 5,684,717 1128,904 1915,961 1330,017 818,200 3856,440 852,655 360,481 888,078 817,382 2449,798 Redemption fund for F. R. notes 840,758 55.992 171.076 58.045 74.960 74.000 48.558 150.693 42,331 22.484 40,362 25,187 77,070 Total gold certificate reserves 21,946,150 1058,751 5,855,793 1186,949 1990,921 1404,017 866,758 4007,133 894,986 382,965 928,440 842,569 2526,868 F.R. notes of other Banks 384,176 31,028 71,287 44,301 22,587 24,494 71,347 27,476 9,045 21,821 7,353 18,951 34,486 Other cash 386,694 26,261 87,275 22,846 36,604 20,347 31,437 58,133 20,855 8,464 11,913 14,643 47,916 Discounts and advances 420,262 31,575 65,375 46,755 45,019 36,435 31,970 67,310 6,730 25,423 40,770 15,750 7,150 Industrial loans 608 327 251 30 Acceptances— Bought outright 19,431 19,431 U. S. Govt, securities: Sought outright— Bills 343,563 18,740 85,919 20,054 30,178 21,952 17,795 59,969 14,208 7,414 14,750 13,464 39,120 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 23,070,925 1258,863 5,771,601 1347,186 2027,207 1474,582 1195,419 4028,449 954,429 498,043 990,^7 904,440 2b27,»59 Held under repurchase agreement 275,800 -- 275,800 Total U. S. Govt, sees. 23.354,725 1258.863 6.047,401 1347,186 2027,207 1474,582 1195,419 4028,449 954,429 498,043 990,847 904,440 2627,859 !Dotal loans & securities 23,795,026 1290,765 6,132,207 1394,192 2072,226 1511,017 1227,389 4095,759 961,159 523,496 1031,617 920,190 2635,009 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,872,763 369,916 8567916 299,067 423,735 355,786 354,411 845,842 193,177 117,680 307,917 257,602 490,714 Bank premises 80,425 5,150 10,339 4,625 9,171 7,149 5,622 6,476 5,553 5,119 4,761 5,448 11,012 Other assets 288.187 15.388 72,677 16.424 25,381 18,073 14,805 51,682 11,654 6,141 12.151 11,726 32,085 TOTAL ASSETS 51,753,443 2797,260 13,086,500 2968,406 4580,627 3340,884 2571,770 9092,504 2096,430 1065,687 2304,153 2071,130 5778,092 1/ After deducting $16,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 31, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta CChhiiccaaggoo Louis apolis City DDaallllaass Francisco L I A B I L I T I ES Federal Reserve notes 26,671,496 1598,054 6,281,991 1693,212 2528,373 2101,043 1247,631 5174,426 1183,931 473,344 1061,521 696,426 2631,544 Deposits: Member bank reserves 18,630,266 766,232 5,381,175 869,713 1492,597 813,062 888,786 2993,250 674,872 425,082 853,405 1015,332 2456,760 U.S.Treas.-gen.acct. 504,451 35,807 70,692 38,107 44,926 36,896 50,401 50,101 18,606 21,583 58,376 40,333 38,623 Foreign 364,113 20,590 1/108,868 24,850 31,950 18,105 15,975 50,410 13,135 8,520 13,490 l8,46o 39,760 Other 296,158 459 228,727 10,605 1,365 1,913 5,306 3,352 1,577 883 806 3,481 37,684 Total deposits 19,794,900 823,088 5,789,462 943,275 1570,838 869,976 960,468 3097,113 708,190 456,068 926,077 1077,606 2572,827 Deferred availability cash items 3,976,349 299,386 654,290 240,694 363,455 300,851 302,901 632,498 153,634 103,175 264,478 230,867 430,120 Other liabilities and accrued dividends 13,925 952 3,253 656 1,989 589 581 2,801 485 467 539 399 1,214 TOTAL LIABILITIES 50,456,758 2721,480 12,728/996 2877,837 4464,655 3272,459 2511,581 890b,030 2046,240 1033,054 2252,615 2005,290 5635,705 CAPITAL ACCOUNTS ^Capital paid in 337,634 17,171 99,404 21,116 32,120 15,350 16,180 45,649 11,385 7,323 13,579 18,823 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 183,915 11,650 42,779 12,663 16,453 12,132 10,068 28,167 8,953 5,717 8,839 8,194 18,300 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,753,443 2797,260 13,086,500 2968,406 4580,627 3340,884 2571,770 9092,504 2096,430 1065,687 2304,153 2071,130 5778,092 Conting. liab. on accept- -ances purchased for 9,969 2,597 1,685 2,668 3,650 7,862 foreign correspondents 70,148 4,072 2/19,674 4,914 6,318 3,580 3,159 Industrial loan commit. 1,795 52 13 82 — — — 1,648 "— -• FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,686,355 1655,050 6,517,551 1770,807 2596,216 2165,709 1318,881 5279,839 1236,835 527,901 1092,194 745,245 2780,127 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 94,255 — 46,755 — -- — -- 6,730 —— 40,770 — — ~ 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 52S.000 1500.000 Total collateral 28,927.2551 1730,000 6[770|000 1886/755 2680.000 2205^000 l400l000 5400.000 1331.730" 555.000 1160.770 808.000 1000.000 l/ After deducting $255, 245,000 participations of other Federal Reserve Banks. 2/ After deducting $50, 474,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis