H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERA LRESERVE SYSTEM August 22, 1957 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member "ban kreserves for the week ending August 21 increased $20 million to $18,806 million .Estimated required reserves increased $28 million; and estimated excess reserves decreased $8 millio nto $523 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $402 million, compared with $625 millio nthe week before. The principal changes supplying average reserves were an increase of $353 million in Federal Reserve float, and decreases of $20 million in foreign deposits with Federa lReserve Banks and $14 million in money in circulation. The principal offsetting changes were decreases of $23- 1million in member bank borrowings and $13 million in U. S. Government securities bought outright, and increases of $90 millio nin "other" F. R. accoun t(snet) and $38 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $109 million. As of Wednesday, August 21 ,holdings of U. S. Government securities bought outright were $17 million lower than a week earlie rand member bank borrowings were $163 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items August 21, 1957 August 14, 19571August 22,1956 (In millions of dollars) Reserve Bank credit: U, S. Government securities— Bought outright—System account 23,034 - 13 --1411-21 0*0%* Held under repurchase agreement -128 Acceptances— Bought outright 19 - 1 + 2 Held under repurchase agreement *** Loans, discounts, an dadvances— Member bank borrowings 925 -231 + 47 Other 6 + 5 Float 1,227 +353 + 56 Total Reserve Bank credit 25,211 +109 -431 Gold stock 22,625 - 2 +769 Treasury currency outstanding 5,116 + 2 + 79 52,952 +110 +415 Money in circulation 31,055 - 14 +4oi Treasury cash holdings 762 - 2 - 16 Treasury deposits with F. R. Banks 513 + 38 + 28 Foreign deposits with F. R. Banks 343 — 20 + 50 Other deposits with F. R. Banks 270 - 3 + 4 Other F. R. account s(net) 1,203 + 90 +259 +"59 +727 Member bank reserves— 18,806 + 20 Required reserves (estimated) 18,283 + 28 Excess reserves (estimated) 523 - 8 -130 * Less than $500,000 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 764 Treasury currency outstanding 5,117 Member bank) - Required (est.) 18,284 Money in circulation 31,001 reserves ) - Exces s(est.) 203 On August 21, 1957, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,604 million, a decrease of $64 million for the week and a decrease of $72 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) since August 21, August l4, August 22, 1957 1957 1956 A S S E TS Gold certificate account 21,102,394 2,999 + 781,002 Redemption fund for F. R. notes 838,499 + 1,513 11,754 Total gold certificate reserves 21,940,893 - 1,486 4- 769,248 F. R. notes of other Banks 396,620 + 24,795 + 64,373 Other cash 394,149 + 12,502 - 886 Discounts and advances 708,669 + 163,033 - 97,517 Industrial loans 607 - 36 - 323 Acceptances—bought outright 19,421 - 7 + 2,307 U. S. Government securities: Bought outright- . Bills 298,463 16,500 357,407 Certificates 19,933,612 — +9,000,913 Notes -- -- -9,153,913 Bonds 2,801,750 -- Total bought outright 23,033,825 16,500 510,407 Held under repurchase agreement Total U, S. Government securities 23,033,825 ~ 16,500 - 510,407 Total loans and securities 23,762,522 + 146,490 - 605,940 Due from foreign banks 22 -- -- Uncollected cash items 5,114,725 - 436,004 + 468,937 Bank premises 81,085 + 286 + 10,775 Other assets 65,423 - 78,719 - 172,606 TOTAL ASSETS 51,755,439 - 332,136 + 533,901 L I A B I L I T I ES Federal Reserve notes 26,754,627 - 24,015 4- 359,841 Deposits: Member bank reserves 18,487,391 + 154,656 • 271,533 U. S. Treasurer--general account 480,164 + 71,428 - 73,354 Foreign 341,768 - 43,002 + 37,925 Other 256,794 - 17,048 + 4,752 Total deposits 19,566,117 + 166,034 - 302,210 Deferred availability cash items 4,086,690 - 484,991 + 380,546 Other liabilities and accrued dividends 14,478 - 201 - 1,768 TOTAL LIABILITIES 50,421,912 - 343,173 + 436,409 C A P I T AL A C C O U N TS Capital paid in 338,046 + 79 + 20,233 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 -- mmm Other capital accounts 220,345 4" 10,958 + 23,278 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,7551439 - 332,136 + 533,901 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 47.4$ .Vjo + 1,6$ - Contingent liability on acceptances purchased for foreign correspondents 71,771 * 3,762 19,359 Industrial loan commitments 1,839 + 25 - 668 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 21, 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 "699,957 60 5,1^7 159,063 16 days to 90 days 8,652 73 14,274 139,400 91 days to 1 year 60 303 19,946,105 Over 1 year to 5 years 171 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 708,669 Wf 19,421 23,033,825 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) I | OF C0HDITC]O W OF EA)(H FEDERA]R ESERVE BANK ON AUGUST 21, 1957 Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n it sa y s Dallas Fran S c a i n s co A S S E TS Gold certificate account 21,102,394 1033,033 5,516,136 1135,249 1913,457 1350,544 813,989 3941,093 830,609 377,145 887,654 768,735 2534,750 Redemption fund for F. R. notes 838,499 55,720 169,958 57.611 75,490 72,483 48.317 150.164 42,195 22,428 42.252 25,103 76.778 Total gold certificate reserves 21,940,893 1088,751 5,686,094 1192,860 1988,947 1423,027 862,306 4091,257 872,804 399,573 929,906 793,838 2611,528 F.R, notes of other Banks 396,620 37,538 74,448 57,612 17,663 24,089 72,057 27,572 11,171 16,146 10,424 16,483 31,417 Other cash 394,149 25,104 92,095 26,828 36,573 22,300 31,124 55,997 21,856 7,429 11,547 14,735 48,561 Discounts and advances 708,669 33,715 307,105 24,965 69,450 39,330 51,005 53,010 28,009 17,863 48,120 29,087 7,010 Industrial loans 607 318 260 29 Acceptances- Bought outright 19,421 19,421 U.« S. Govt ,securities: Bought outright— Bills 298,463 16,280 74,640 17,422 26,216 19,070 15,459 52,097 12,343 6,44l 12,814 11,697 35,984 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 Notes Bonds 2.801.750 152.824 700-664 163.547 246.100 179.012 145.122 489.048 115.866 60.463 120.288 109.798 TL9.019 Total 23,033,825 1256,403 5,760,322 1344,554 2023,245 1471,700 1193,083 4020,577 952,564 497,070 988,911 902,673 2622,723 Held under repurchase agreement Total U. S. Govt, sees. 23,033,825 1256,403 5,760,322 1344,554 2023,245 1471,700 1193,083 4020,577 952,564 497,070 988,911 902,673 2622,723 Total loans & securities 23,762,522 1290,436 6,086,848 1369,779 2092,695 1511,030 1244,088 4073,587 980,573 514,962 1037,031 931,760 2629,733 Due from foreign hanks 22 1 1/6 2 2 1 1 31 1 1 1 2 Uncollected cash items 5,114,725 426,372 8867759 316,462 450,251 402,804 400,817 848,762 197,571 135,291 262,580 259,637 527,419 Bank premises 81,085 5,153 10,496 4,625 9,328 7,149 5,712 6,477 5,651 5,138 4,770 5,631 10,955 Other assets 65,423 3,548 15,028 3,511 5,710 4,009 3,444 13,217 2,477 1,409 2,726 3,361 6,983 TOTAL ASSETS 51,755,439 2876,905 12,851,774 2971,679 4601,169 3394,409 2619,549 9116,872 2092,104 1079,949 2258,985 2025,446 5866,598 l/ 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.l(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK OH AUGUST 21, 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 26,754,627 1592,741 6,284,550 1699,607 2541,698 2116,386 1247,064 5205,698 1190,352 468,740 1065,143 705,495 2637,153 Deposits: Member bank reserves 18,487,391 827,084 5,201,627 862,536 1495,306 819,343 919,830 2946,040 649,874 426,792 867,844 970,239 2500,876 H .S. Treas. -gen. ac c t. 480,164 43,157 39,247 34,270 33,703 35,634 33,647 68,555 25,814 26,915 44,190 41,437 53,595 "Foreign 341,768 19,082 1/105,217 23,030 29,610 16,779 14,805 46,718 12,173 7,896 12,502 17,108 36,848 Other 256,794 394 198,436 10,579 2^310 1,845 1,777 1,618 1,004 308 671 2,752 35,100 Total deposits 19,566,117 889,717 5,544,527 930,415 1560,929 873,601 970,059 3062,931 688,865 461,911 925,207 1031,536 2626,419 Deferred availability jcash items 4,086,690 315,716 651,476 248,753 377,500 332,869 340,045 652,995 160,716 115,597 214,848 220,344 455,831 (SEfoer liabilities and accrued dividends 14,478 933 3,525 605 1,765 745 695 2,581 516 538 546 767 1,262 TOTAL LIABILITIES 50,421,912 2799,107 12,484^078 2879,380 4481^892 3323,601 2557,863 8924^205 2040,449 1046,786 2205,744 1950,142 5720,665 CAPITAL ACCOUNTS Capital paid in 338,046 17,174 99,488 21,144 32,137 15,351 16,182 45,848 11,391 7,325 13,586 18,872 39,548 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 2,140 Other capital accounts 220,345 13,665 52,887 14,365 19,741 14,514 11,563 34,969 10,412 6,245 10,535 9,617 21,832 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,755,439 2876,905 12,851,774 2971,679 4601,169 3394,409 2619,549 9116,87 22092,104 1079,949 2258,985 2025,446 5866,598 Conting. liab. on acceptances purchased for foreign correspondents 71,771 4,l64 2/20,147 5,026 6,462 3,662 3,231 10,196 2,657 1,723 2,728 3,734 8,04l Industrial loan commit. 1,839 42 68 81 1,648 FEDERAL RESERVE AGEMB' ACCOUNTS F. R. notes outstanding 27,722,982 1654,028 6,517,673 1767,911 2608,035 2175,74 81309,327 5303,453 1232,482 524,659 1091,486 751,439 2785,941 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 100,370 —— 24,615 — — ~~ — —— —— 27,825 — - 47,930 — — 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 20,933,370 1730,000 6,770,000 1064,615 2680,000 2205,000 1400,000 5400,000 1352,"825" 555,000 1167,930 000,000 3000,000 1/ After deducting $236,5 51,000 participationso f other Federa lReserve Banks. 2/ After deducting $51, 624,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis