H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4;l OF THE FEDERAL RESERVE SYSTEM August 15, 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 August 14 decreased $82 million to $18,786 million. Estimated required reserves decreased $138 million; and estimated excess reserves increased $56 million to $536 million. Member bank borrowings at the Federal Reserve Banks exceeded excess $620 $580 reserves by million, compared with million the week before. The principal changes reducing average reserves were decreases of $69 million in Federal Reserve holdings of U. S. Government securities and $54 mil' lion in Federal Reserve float, and an increase of $86 million in money in circulation, The principal offsetting changes were an increase of $96 million in member bank borrowings and a decrease of $23 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $22 million. As of Wednesday, August 14, holdings of U. S. Government securities bought outright were $26 million lower than a week earlier and member bank borrow- $263 ings were million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 14, 1957 Aug. 7, 1957 I Aug. 15, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 23,047 - 31 -371 Held under repurchase agreement — - 38 - 21 Acceptances--bought outright 20 + 3 •- Loans, discounts, and advances-- Member bank borrowings 1,156 + 96 +196 Other 6 + 5 + 5 Float 874 - 54 + 37 Total Reserve Bank credit 25,102 - 22 -152 Gold stock 22,627 -- +771 Treasury currency outstanding 5,114 + 1 + 78 52,842 - 22 +696 Money in circulation 31,069 + 86 +388 Treasury cash holdings 764 - 3 - 9 Treasury deposits with F. R. Banks 475 - 23 - 64 + 28 Foreign deposits with F. R. Banks 363 > 8 Other deposits with F. R. Banks 273 - 4 - 4 +166 Other F. R. accounts (net) 1,113 - 3 61 34,057 -f" +504 m Member bank reserves- 18,786 82 +193 18,250 +236 Required reserves (estimated) Excess reserves (estimated) 536 56 - 43 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 765 Treasury currency outstanding 5,115 Member bank) - Required (est.) 18,249 Money in circulation 31,058 reserves ) - Excess (est.) 84 On August 14, 1957, U. S. Government securities held in custody by the $3,668 Federal Reserve Banks for foreign account were million, a decrease of $88 million for the week and a decrease of $47 million from the comparable date Digitized faor FyReAaSrER 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 14, August 7, August 15, 1957 1957 1956 A SS E T S Gold certificate account 21,105,393 + + 784,000 Redemption fund for F, R, notes 836*986 2. - 13,442 Total gold certificate reserves 21,9^2,379 - + 770,558 F. R. notes of other Banks 371,825 + 298 + 53,189 Other cash 381,647 + 1,438 1,938 Discounts and advances 545,636 262,559 - 286,564 Industrial loans 643 + 34 284 Acceptance s--bought outright 19,428 + 3 + 2,313 U. S. Government securities: Bought outright— Bills 314,963 26,100 - 214,407 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds Total bought outright 23,050,325 • • 26,100 - 367,407 Held under repurchase agreement - 147,400 Total U. S. Government securities 23,050,325 • • 26,100 - 514,807 Total loans and securities 23,616,032 - 288,622 - 799,342 Due from foreign banks 22 Uncollected cash items 5,550,729 +1,164,957 + 292,186 Bank premises 80,799 + 144 + 10,556 Other assets 144,142 + 16,015 83,316 TOTAL ASSETS 52,007,575 + 892,555 241,893 L I A B I L I T I ES Federal Reserve notes 26,778,642 + 34,049 + 360,314 Deposits: Member bank reserves 18,332,735 - 197,971 - 429,167 U. S. Treasurer--general account 408,736 + 67,393 - 143,449 Foreign 384,770 + 17,923 + 96,245 Other 273,842 + 3,269 - 2,68l Total deposits 19,400,083 - 109,386 - 479,052 Deferred availability cash items 4,571,681 + 953,877 + 266,750 Other liabilities and accrued dividends 14,679 + 881 2,145 TOTAL LIABILITIES 50,765,085 + 879,421 + 145,867 C A P I T AL A C C O U N TS 20,220 Capital paid"in " 337,967 59 + Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 209,387 +_ 13,075 +_ 21,825 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,087,575 +" 892,555 + 241,893 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.5# + 1.8# Contingent liability on acceptances purchased for foreign correspondents 75,533 + 1,755 + 25,128 Industrial loan commitments I,8l4 + 21 681 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 14, 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 536,209 ~ ST 5,091 164,963 16 days to 90 days 9,345 64 14,337 150,000 91 days to 1 year 82 329 19,946,105 Over 1 year to 5 years 181 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 545,636 %%3 19,428 23,050,325 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK OF AUGUS T14, 1957 H.4.1(b) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Franciscc (In thousands of dollars) A S S E TS Gold certificate account 21,105,393 986,309 5,690,883 1149,749 1908,942 1333,174 803,058 3880,817 836,371 343,787 883,405 768,961 2519,937 Redemption fund for 25,124 76,851 836,986 55,799 170,261 57,740 74,626 72,920 48,390 150,305 42,231 22,457 40,282 F. R. notes Total gold certificate 1042,108 5,861,144 1207,489 1983,568 1406,094 851,448 4031,122 878,602 366,244 923,687 794,085 2596,788 reserves 21,942,379 F.R. notes of other Banks 371,825 30,086 73,443 52,674 16,690 22,748 72,433 25,410 8,515 16,096 10,545 14,791 28,394 381,647 25,081 90,454 24,778 35,918 20,749 30,055 54,726 21,045 8,388 11,366 12,924 46,163 Other cash 152,240 15,605 72,590 38,870 36,455 66,635 7,680 35,990 32,115 24,787 5,454 Discounts and advances 545,636 57,215 - - 286 - - -- -- — 30 Industrial loans 643 327 Acceptances— Bought outright 19,428 19,428 U. S. Govt, securities: Bought outright— 17,180 78,766 18,385 27,666 20,124 16,314 54,977 13,025 6,797 13,523 12,343 35,863 Bills 314,963 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 Certificates 19,933,612 Notes 152,824 700,664 163.547 246.100 179.012 145,122 489,048 115,866 60.462 120,288 109,798 319,019 Bonds 2,801,750 1257^303 5,764'448 1345,517 2024,695 1472,754 1193,938 4023,457 953,246 497,426 989,620 903,319 2624,602 Total 23,050,325 Held under repurchase agreement 1257.303 5,764.448 1345.517 2024.695 1472.754 1193,938 4023,45 7953,246 497.426 989,620 903,319 2624,602 Total U. S. Govt, sees. 23.050,325 1314,845 5,936,116 1361,408 2097,285 1511,624 1230,393 4090,092 960,926 533,446 1021,735 928,106 2630,056 Total loans & securities2 3,616,032 l l/ 6 2 2 1 1 3 1 1 1 1 ^ Due from foreign "banks 22 411a,4s49 9a377t8e83 3 i 54 t ,7 s 84 514,181 436,979 4 6a3,5s02 8t91i,01n6 2 33 & ,646 1a54s,96 3a 29s9, 465 277,527 575,334 Uncollected cash items 5,550,729 Bank premises 80,799 Other assets 144.142 2836,378 12,944,415 3014,024 4669,301 3414,499 2660,975 9125,93 42114,044 1087,342 2277,652 2039,309 5903,702 TOTAL ASSETS 52,087,575 1/ After deducting $16,000 participation sof othe rFederal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK OK AUGUST 14, 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) L I A B I L I T I ES Federal Reserve notes 26,778,642 1597,787 6,285,847 1701,179 2542,02 92112,956 1258,241 5198,593 1189,552 470,125 1067,538 703,204 2651,591 Deposits: Member bank reserves 18,332,735 782,282 5,177,073 860,691 1501,081 812,391 906,927 2907,208 653,373 421,577 854,018 976,531 2479,583 U.S.Treas.-gen.acct. 408,736 32,004 75,043 33,171 28,831 29,589 21,275 52,017 17,976 18,498 33,343 29,169 37,820 Foreign 384,770 22,156 1/110,112 26,740 34,380 19,482 17,190 54,244 14,134 9,168 14,516 19,864 42,784 Other 273,842 442 " 210,273 10,189 2,551 2.367 2,628 2,541 862 669 1,664 3,079 36,577 Total deposits 19,400,083 836,884 5,572,501 930,791 1566,843 863,829 948,020 3016,010 686,345 449,912 903,541 1028,643 2596,764 Deferred availability cash items 4,571,681 323,635 717,855 289,781 440,503 366,915 392,653 718,216 186,391 133,792 253,239 239,968 508,733 Other liabilities and accrued dividends 14,679 899 3,740 690 1,724 761 571 2,648 569 597 616 643 1,221 TOTAL LIABILITIES 50,765,085 2759,205 12,579,943 2922,441 4551,099 3344,461 2599,485 8935,467 2062,85170 54,426 2224,934 1972,458 5758,309 CAPITAL ACCOUNTS Capital paid in 337,967 17,174 99,478 21,143 32,126 15,351 16,181 45,802 11,390 7,323 13,582 18,871 39,546 .Jlurplus (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 2,140 Other capital accounts 209,387 13,040 49,673 13,650 18,677 13,744 11,368 32,815 9,945 6,000 10,016 9,165 21,294 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,087,575 2836,378 12,944,415 3014,024 4669,301 3414,499 2660,975 9125,934 2114,044 1087,342 2277,652 2039,309 5903,702 Coating, liab. on acceptances purchased for foreign correspondents 75,533 4,379 2/21,248 5,285 6,795 3,850 3,398 10,721 2,794 1,812 2,869 3,926 8,456 Industrial loan commit. I,8i4 17 68 — -- 81 1^648 FEDERAL RESERVE AGENTS 1ACCOUNTS F. R. note soutstanding 27,710,412 1650,264 6,517,026 1771,091 2599,086 2169,186 1314,301 5306,664 1228,269 525,690 1094,630 751,773 2782,432 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 54,675 — — 15 y255 —— —— —— — — 7,495 — 31,925 U. S. Govt, securities 16,955,000 1150,000 3,600,000 1200,000 1550,000 1310,000 1000,000 3000,0008 75,000 425,000 820,000 525,000 1500.000 Total collateral [ _^ z 2gfW,<?75 1730,000 6,770,000 1855.255 2680,000 2205,000 1400.000 5400.000 1332.49 5555.000 1151.925 808,000 3000.000 1/ After deducting $274,658,000 participationso f other Federa lReserve Banks, 2/ After deducting $54,285,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis