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 29, 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 28 increased $25 million to $18,831 million. Estimated required reserves increased $136 million; and estimated excess reserves decreased $111 million to $412 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $495 million, compared with $402 million the week before. The principal changes supplying average reserves were an increase of $186 million in Federal Reserve holdings of U, S. Government securities, and decreases of $57 million in money in circulation and $38 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $250 million in Federal Reserve float and $18 million in member bank borrowings. Total Reserve Bank credit decreased $78 million. As of Wednesday, August 28, holdings of U. S. Government securities bought outright were $279 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $36 million higher, and member bank borrowings were $73 million higher. Member bank reserves, Averages of dally figures Reserve Bank credit, For week ending Change from week ending and related items August 28. 1957 August 21, 1957IAugust 29,1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,215 +181 -377 Held under repurchase agreement 5 + 5 - 25 Acceptances- Bought outright 21 + 2 + 3 Held under repurchase agreement Loans, discounts, and advances- Member bank borrowings 907 8 Other Float 977 Total Reserve Bank credit 25,133 22,626 Gold stock Treasury currency outstanding 52^77 Money in circulation 30,998 Treasury cash holdings 764 Treasury deposits with F, R. Banks 475 Foreign deposits with F. R. Banks 339 Other deposits with F. R. Banks 268 Other F. R. accounts (net) -100 3 ^5 Member bank reserves- Required reserves (estimated) a# Excess reserves (estimated) 412 -111 * 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 768 Treasury currency outstanding 5,119 Member bank) - Required (est.) 18,417 Money in circulation 31,007 reserves ) - Excess (est,) 177 On August 28, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,536 million, a decrease of $68 million for the week and a decrease of $117 million from the comparable Digitized for FRASER http://frasdera.sttloeu isafe dy.oerga/ r ago. 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 28, August 21, August 29, 1957 1957 1956 A S S E TS Gold certificate account 21,100,392 - 2,002 4* 779,000 Redemption fund for F. R. notes 838,306 - 193 - 9,139 Total gold certificate reserves 21,938,698 - 2,195 4" 769,861 F. R. notes of other Banks 404,243 + 7,623 + 60,120 Other cash 393,018 - 1,131 + 3,124 Discounts and advances 792,436 + 83,767 + 322,754 Industrial loans 529 - 78 - 372 Acceptances: Bought outright 2222,,662222 + 33,,220011 + 4,007 Held under repurchase agreement 662 U. S. Government securities: Bought outright-- Bills 576,973 + 278,510 - 230,547 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,312,335 + 278,510 - 383,547 Held under repurchase agreement 35,600 + 35,600 + 35,600 Total U. S, Government securities 23,347,935 ±_ 314,110 ~ 347,947 Total loans and securities 24,163,522 + 401,000 22,220 Due from foreign banks 22 Uncollected cash items 4,501,846 - 612,879 + 355,007 Bank premises 81,149 + 64 + 10,591 Other assets 80,076 + 14,653 - 169,311 TOTAL ASSETS 51,562,574 - 192,865 +1,007,172 L I A B I L I T I ES Federal Reserve notes 26,765,461 10,834 + 350,262 Deposits: Member bank reserves 18,594,098 + 106,707 + 274,205 U. S. Treasurer--general account 483,987 + 3,823 5,860 Foreign 351,989 + 10,221 - 10,399 Other 273,618 + 16,824 + 10,010 Total deposits 19,703,692 + 137,575 +" 267,956 Deferred availability cash items 3,730,040 - 356,650 + 289,226 Other liabilities and accrued dividends 18,716 + 4,238 + 765 TOTAL LIABILITIES 50,217,909 - 204,003 + 908,209 C A P I T AL A C C O U N TS Capital paid in 338,125 79 + 20,146 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 231,404 11,059 + 24,836 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,562,574 192,865 +1,007,172 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 47.2fci + 1.0% Contingent liability on acceptances purchased for foreign correspondents 68,468 3,303 + 17,387 Industrial loan commitments 1,918 79 588 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 28. 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 782,799 60 £7597 1S57123 16 days to 90 days 8,480 73 18,025 453,950 91 days to 1 year 1,157 225 19,959,605 Over 1 year to 5 years 171 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Digitized for FRASER Total 792,436 529 22,622 23,347,935 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM: OH AUGUST 28. 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Fr&nciecc (in thousands of dollars) A S S E TS Gold certificate account 21,100,392 1007,690 5,711,837 1116,595 1887,710 1346,138 783,082 3937,872 827,688 352,527 817,523 777,352 2534,378 Redemption fund for F. R. notes 838,306 55,619 169,432 57,444 75.295 71,847 48,220 149,934 42,144 22,411 42,208 27,070 76,682 Total gold certificate reserves 21,938,698 1063,309 5,881,269 1174,039 1963,005 1417,985 831,302 4087,806 869,832 374,938 859,731 804,422 2611,060 F.R. notes of other Banks 404,243 41,256 70,173 57,476 19,695 24,805 68,368 28,150 9,467 19,475 12,127 17,237 36,014 Other cash 393,018 25,221 88,287 26,780 35,296 21,933 32,967 57,386 22,174 8,620 12,099 14,427 47,828 Discounts and advances 792,436 31,908 186,481 46,090 98,215 34,711 79,525 112,862 42,547 26,273 66,393 36,649 30,782 Industrial loans 529 318 182 29 Acceptances— Bought outright 22,622 22,622 U. S. Govt, securities: Bought outright— Bills 576,973 31,472 144,290 33,679 50,680 36,865 29,885 100,711 23,861 12,451 24,771 22,611 65,697 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 112*824 700,664 163,547 246,100 lJSh012 ._!!&122 ,182^4^1^ ,8^6—6o_,462_lgq^288 109,798 319,019 Bonds M0LI5P. Total 23,312,335 1271,595~~5,o29,972 13o0,8ll 2047,709 l589,495 1207,509 4069,191 9%,082 503,080 1000,868 913,587 2654/436 Held under repurchase agreement 35,600 35,600 lyi.q^ 5.865.572 1360,811 2047,709 1489,495 1207,509 4o69-"-91 964,082 503,080 1000,868 913,587 2654,436 Total U. S. Govt, sees. Total loans & securities 24,163,522 1303,821 6,074,675 1407,083 2145,924 1524,206 1287,034 4182,053 1006,629 529,382 1067,261 950,236 2685,218 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,501,846 325,320 796:173 278,814 414,485 364,255 341,626 760,545 179,895 124,992 224,085 247,858 443,798 Bank premises 81,149 5,119 10,496 4,603 9,326 7,168 5,702 6,573 5,649 5,136 4,791 5,631 10,955 Other assets 80,076 4,178 18.742 4,345 7.161 5,055 4,l6l 15,506 3.082 1,805 3,428 3,907 ZjOk TOTAL ASSETS 51,562,574 2768,225 12,939,821 2953,142 4594,894 3365,408 2571,163 9138,022 2096,729 1064,349 2183,523 2043,719 5843,579 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 28. 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 26,765,461 1593,805 6,293,489 1696,127 2544,837 2127,978 1244,169 5202,903 1187,915 466,176 1063,932 707,374 2636,756 Deposits: Member bank reserves 18,594,098 766,494 5,244,097 867,965 1508,386 806,430 917,087 3030,635 660,990 426,578 832,964 1000,894 2531,578 U.S.Treas.-gen.acct. 483,987 25,377 77,873 35,632 33,680 32,743 39,852 56,630 35,602 19,293 37,893 31,069 58,343 Foreign 351,989 19,778 1/106,810 23,870 30,690 17,391 15,345 48,422 12,617 8,184 12,958 17,732 38,192 Other 273.618 1.157 212.414 10,411 2,634 2,176 1,533 1,598 P,75fi 46§- 3r23S 34,525. Total deposits 19,703,692 813,006 5641,214 937,898 1575,390 858,740 973,817 3137,285 7H,959 454,335 884,480 1052,930 2662,638 Deferred availability 3,730,040 282,445 '629,051 225,263 352,044 306,703 290,058 599,885 144,453 109,513 180,528 215,095 395,002 cash items Other liabilities and 18,716 1,061 4,959 795 2,182 952 774 2,952 701 860 735 919 1,826 accrued dividends TOTAL LIABILITIES 50,217,909 2690,317 12,568,713 2860,083 4474,453 3294,373 2508,818 8943,025 2045,028 1030,884 2129,675 1976,318 5696,222 CAPITAL ACCOUNTS Capital paid in 338,125 17,177 99,499 21,145 32,137 15,351 16,190 45,881 11,407 7,325 13,586 18,875 39,552 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 231,404 UyTfZ 56,868- 15,124 -aQ.,-9©* 14/741 1%214 37,266 3K>,44e 6 7^ 11,142 9,711 23,252 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,562,574 2768,225 12,939,821 2953.142 4594.894 1165.408 2571,163 9136,022 2096,729 1064,349 P1ft3,5?3 2043,719 5843,579. Conting. liab. on acceptances purchased for foreign correspondents 68,468 3,973 2/19,217 4,795 6,165 3,493 3,082 9,727 2,535 1,644 2,603 3,562 7,672 Industrial loan commit. 1,918 121 68 81 1,649 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 27,753,545 1665,505 6511,266 1763,951 2609,582 2186,003 1310,379 5312,383 1230,567 523,438 1095,799 759,987 2784,685 Collat. for F. R. notes: Gold certificate acct. 11,978,000 580,000 3170,000 640,000 1130,000 895,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 153,435 — 45,320 — — -- -- 42,140 65,975 U. S. Govt, securities 16.955.000 1150.000 1600.000 ipon.noo issOj.nnn i^m nnn innn non inno.nm 875.000 425.noo 820,000 r r Total collateral „ ... 2 . 9 ,086,435 1710 (W> £77r> nm nnn porvj nnp i4oA J nnn 55nn, rnn i167.iUn—555.,000 1105,975—808,000 3000,000 1/ After deducting^245,179 000 particciippaattiioonnss of other Federal Reserve Banks. ?/ After deducting^ 49^251^000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis