H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM August 8, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending August 7 decreased $17 million to $18,868 million. Estimated required reserves decreased $108 million; and estimated excess reserves increased $91 million to $480 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $580 million, compared with $164 million the week before. The principal changes reducing average reserves were decreases of $238 million in U. S. Government securities held under repurchase agreement and $70 million in Federal Reserve float, and increases of $155 million in "other" F. R. accounts (net) and $74 million in money in circulation. The principal offsetting change was an increase of $507 million in member bank borrowings. Total Reserve Bank credit increased $192 million. As of Wednesday, August 7, holdings of U. S. Government securities bought outright were $2 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $276 million lower, and member bank borrowings were $383 million higher. Holdings of certificates increased $8,571 million and notes decreased a like amount, reflecting the exchange of notes maturing August 1 and October 1 for the new issues of certificates maturing December 1, 1957 and August 1, 1958. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 7, 1957 July 31, 1957 IAugust 8, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,078 - 6 -340 Held under repurchase agreement 38 -238 + 38 Acceptances—bought outright 20 - 1 + 2 Loans, discounts, and advances-- Member bank borrowings 1,060 +507 +143 Other 1 W *• m m Float 928 - 70 + 99 Total Reserve Bank credit 25,124 +192 ^5% Gold stock 22,627 + 1 +772 Treasury currency outstanding 5,113 + 3 + 78 52,864 +196 +793 Money in circulation 30,983 + 74 +350 Treasury cash holdings 767 - 4 - 2 Treasury deposits with F. R. Banks 498 + 4 - 32 Foreign deposits with F. R. Banks 355 - 15 + 36 Other deposits with F. R. Banks 277 - 1 - 7 Other F. R. accounts (net) 1,116 +155 +167 33,996 +213 +512 Member bank reserves-- 18,868 - 17 +280 Required reserves (estimated) isb® -108 +370 Excess reserves (estimated) 480 + 91 - 90 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 22,627 Treasury cash holdings 772 Treasury currency outstanding 5,113 Member bank) - Required (est.) 18,326 Money in circulation 31,017 reserves ) - Excess (est.) 205 On August 7, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,756 million, an increase of $26 million for the week and an increase of $53 million from the comparable date Digitized for FRASER 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 August 7# July 31, August 8, 1957 _122L— 1956 A S S E TS Gold certificate account 21,105,392 «*«* + 783,999 Redemption fund for F. R. notes 838,662 2,096 - 13,939 Total gold certificate reserves 21,944,054 2,096 + 770,060 F, R. notes of other Banks 371,527 12,649 + 61,555 Other cash 380,209 6,485 - 6,002 Discounts and advances 808,195 + 387,933 + 90,859 Industrial loans 609 + 1 - 330 Acceptances--bought outright 19,425 6 + 2,312 U. S. Government securities; Bought outright-- Bills 341,063 2,500 - 188,307 Certificates 19,933,612 +8,571,413 +9,000,913 Notes -8,571,413 -9,153,913 Bonds Total bought outright 23,076,425 2,500 - 341,307 Held under repurchase agreement - 275,800 Total U. S. Government securities 23,076,425 - 278,300 - 341,307 Total loans and securities 23,904,654 + 109,628 - 248,466 Due from foreign banks 22 Uncollected cash items 4,385,772 - 486,991 + 295,815 Bank premises 80,655 + 230 + 10,934 Other assets 128,127 - 160,060 - 86,011 TOTAL ASSETS 51.195.020 - 55TO3 * 797,885 L I A B I L I T I ES Federal Reserve notes 26,744,593 + 73,097 + 343,918 Deposits: Member bank reserves 18,530,706 - 99,560 + 287,733 U. S. Treasurer—general account 341,343 - 163,108 - 219,475 Foreign 366,847 + 2,734 + 89,698 Other 270,573 - 25,585 2,845 Total deposits 19,509,469 - 285,519 + 155,111 Deferred availability cash items 3,617,804 - 358,545 + 207,133 Other liabilities and accrued dividends 13,798 127 508 TOTAL LIABILITIES ¥9,885 664 - 571,094 + 705,&5k C A P I T AL A C C O U N TS 337,908 + + 274 + 20,374 Capital paid in Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 I 196,312 + 12,397 17,876 Other capital accounts 51.195,020 - 558,423 + 797 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit .2# 1,1$ and F. R. note liabilities combined 47,4# Contingent liability on acceptances purchased for foreign correspondents 73,778 3,630 24,164 Industrial loan commitments 1.793 2 690 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 7, 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 795,403 £9 6,219 " 142,100 16 days to 90 days 7,703 63 13,206 198,963 91 days to 1 year 5,089 296 19,946,105 Over 1 year to 5 years 181 680,635 750,375 Over 5 years to 10 years Over 10 years -LMiM Total 808,195 m 19,425 23,076,425 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE iiZZaattSSZZLL,, „„•• ff Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond AAttllaannttaa CChhiiccaaggoo Louis apolis City Dallas Francisco (In thousands A S S E TS Gold certificate account 21,105,392 1015,785 5,646,766 1117,592 1887,941 1326,719 815,729 3890,940 859,564 375,155 843,416 790,458 2535,327 Redemption fund for F. R, notes 838,662 55,885 170,623 57,872 74,782 73,386 48,463 150,475 42.273 22,469 40.318 25,151 76.965 Total gold certificate reserves 21,944,054 1071,670 5,817,389 1175,464 1962,723 1400,105 864,192 4041,415 901,837 397,624 883,734 815,609 2612,292 F.R. notes of other Banks 371,527 29,329 74,091 45,713 19,672 24,804 72,806 27,145 7,493 18,736 7,923 16,290 27,525 Other cash 380,209 25,475 90,934 23,070 37,258 20,583 28,984 55,209 19,966 7,769 10,800 14,283 45,878 Discounts and advances 808,195 80,330 147,755 73,295 106,631 48,055 66,500 152,610 11,385 15,828 55,865 30,887 19,054 Industrial loans 609 327 252 30 Acceptances-- Bought outright 19,425 19,425 U. S. Govt, securities: Bought outright- Bills 341,063 18,604 85,293 19,908 29,958 21,792 17,666 59,533 14,105 7,360 14,643 13,366 38,835 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,809 781,178 2269,720 Botes Bonds 2,801,750 152.824 700.664 163.547 246.100 179.012 145.122 489.048 115.866 60.462 120.288 109.798 319.01 Total 23,076,425 1258,727 5,770,975 1347,040 2026,987 1474,422 1195,290 4028,013 954,326 497,989 990,740 904,342 2627,57 Held under repurchase agreement Total U. S. Govt, sees. 23,076,425 1258,727 5,770,975 1347,040 2026,987 1474,422 1195,290 4028,013 954,326 497,989 990,740 904,342 2627,574 Total loans & securities 23,904,654 1339,384 5,938,155 1420,587 2133,618 1522,477 1261,790 4180,623 965,711 513,847 1046,605 935,229 2646,628 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,385,772 340,366 760,025 300,047 372,953 364,132 366,965 706,180 187,116 117,401 217,842 201,992 450,753 Bank premises 80,655 5,150 10,339 4,625 9,177 7,149 5,667 6,476 5,554 5,120 4,755 5,631 11,012 Other assets 128,127 6,967 30,576 7,240 11,579 8,056 6,685 24,007 5,131 2,762 5,387 5,591 14.146 TOTAL ASSETS 51,195,020 2818,342 12,721,515 2976,748 4546,982 3347,307 2607,090 9041,058 2092,809 1063,260 2177,047 1994,626 5808,236 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 CONDIT]C ON OF EACH FEDERAL RESERVE BANK ON AUGUST 7, 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 J L I A B I L I T I ES Federal Reserve notes 26,744,593 1599,351 6,285,896 1700,842 2533,721 2109,740 1254,385 5186,977 1187,779 471,846 1065,962 699,504 2648,590 Deposits: Member bank reserves 18,530,706 804,115 5,142,199 883,082 1516,061 811,754 932,990 2990,591 680,125 423,828 828,942 1006,352 2510,667 U.S.Treas.-gen.acct. 341,343 29,235 45,338 24,247 22,169 34,562 34,364 34,469 11,152 23,841 39,158 17,175 25,633 Foreign 366,847 20,938 1/107>288 25,270 32,490 18,411 16,245 51,262 13,357 8,664 13,718 18,772 40,432 Other 270,573 405 212>277 10,207 1,302 2,632 1,684 1,423 974 302 839 3,036 35,492 Total deposits 19,509,469 054,693 5,507,102 942>006 1572,022 067,359 905,203 3077,745 705,600 456,635 002,657 1045,335 2612,224 Deferred availability cash items 3,617,804 286,931 564,442 241,720 322,039 300,280 305,951 585,698 148,258 101,287 175,754 182,941 402,503 Other liabilities and accrued dividends 13,798 917 3,110 598 2,143 706 640 2,569 484 588 526 504 1,013 TOTAL LIABILITIES 49,titi5,664 2741,892 12,360,550 2885,966 4429,925 3278,085 2546,259 0052,909 2042,129 1030,356 2124,899 1928,284 5664,330 CAPITAL ACCOUNTS Capital paid in 337,908 17,171 99,474 21,142 32,126 15,350 16,181 45,782 11,388 7,323 13,581 18,853 39,537 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, l4G Other capital accounts 196,312 12,320 46,170 12,850 17,532 12,929 10,709 30,437 9,440 5,988 9,447 8,674 19,816 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,195,020 2818,342 12,721,515 2976,748 4546,982 3347,307 2607,090 9041,058 2092,809 1063,260 2177,047 1994,626 5808,236 Conting. liab. on acceptances purchased for foreign correspondents 73,778 4,275 2/20,787 5,159 6,633 3,759 3,317 10,465 2,727 1,769 2,801 3,832 8,254 Industrial loan commit. 1,793 51 13 81 1,648 nmoTmxrni \/ rrcnvtmo •"Itn r ttTAT Ktmo F. R. notes outstanding 27,675,155 1657,322 6,511,677 1771,160 2599,800 2160,640 1316,152 5286,099 1234,276 526,091 1093,979 746,301 2763,658 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 139,820 72,945 -- -- 11,200 -— 55,675 — —- U. S. Govt, securities 16,955,000 1150,000 3,600,000 1200,000 1550,000 1310,000 1000,0003 000,000 875,000 425,000 820,000 525,000 1500,000 Total collateral 28,972,820 1730,000 6,770,000 1912,945 2680,000 2205,000 1400,000 5400,000 1336,200 555,000 1175,675 808,000 3000,000 1/ After deducting $259,559,000 participations of other Federal Reserve Banks. 2/ After deducting $52,991,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis