H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release a . 4 .1 OF THE FEDERAL RESERVE SYSTEM September 5, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS acid STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending September 4 decreased $71 million to $18,760 million. Estimated required reserves decreased $65 million; and estimated excess reserves decreased $6 million to $455 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $371 million, compared with $446 million the week before. The principal changes reducing average reserves were decreases of $119 million in Federal Reserve float and $8l million in member bank borrowings, and an increase of $147 million in money in circulation. The principal offsetting change was an increase of $291 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $95 million. As of Wednesday, September 4, holdings of U. S. Government securities bought outright were $111 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $36 million lower, and member bank borrowings were $349 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 4, 1957 Aug, 28, 1957 I Set>t. 5, 1956 (In millions of dollars3 ) Reserve Bank credit: U. S. Government securities- Bought outright—System account 23,463 +248 -355 Held under repurchase agreement 48 + 43 + 17 Acceptances- Bought outright 25 + 4 + 6 Held under repurchase agreement 1 + 1 - 1 Loans, discounts, and advances— Member bank borrowings 826 - 81 + 30 Other 7 - 1 + 6 Float 858 -119 ±_%i Total Reserve Bank credit 25,228 + 95 -225 Gold stock 22,626 +765 Treasury currency outstanding 5,118 ±76 52,972 +~95 +615 Money in circulation +147 +359 Treasury cash holdings - 7 Treasury deposits with F. R. Banks 485 + 10 + 58 Foreign deposits with F. R. Banks 340 + 1 - 39 Other deposits with F. R. Banks 281 + 13 + 30 Other F. R. accounts (net) - 6 +254 5 5 ^3 '•m +555 Member bank reserves- 18,760 - 4o Required reserves (estimated) 18,305 - 52 Excess reserves (estimated) 455 - 6 + 12 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 766 Treasury currency outstanding 5,118 Member bank) - Required (est.) 18,312 Money in circulation 31,231 reserves ) - Excess (est.) - 15O On September 4, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,504 million, a decrease of $32 million for the week and a decrease of $190 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 BANK SCOMBINED (In thousands of dollare) since Sept, 4, Aug. 28, Sept. 5, 1957 1957 1956 A S S E TS Gold certificate account 21,100,392 + 744,000 Redemption fund for F. R* notes 838,306 —- - 7,331 Total gold certificate reserves 21,938,698 mm mm + 736,669 F, R. notes of other Banks 359,719 - 44,524 + 69,030 Other cash 381,733 - 11,285 + 26,062 Discounts and advances 433,477 - 358,959 - 254,800 Industrial loans 597 + 68 357 Acceptances—bought outright 24,542 + 1,920 + 5,391 U. S, Government securities: Bought outright- Bills 687,773 + 110,800 - 252,397 Certificates 19,933,612 —— +9,000,913 Notes -- -9,153,913 Bonds 2,801,750 -- Total bought outright Held under repurchase agreement 35,600 - 34,600 Total U. S. Governmen tsecurities 23,423.135 75,200 - 439,997 Total loans and securities 23,881,751 - 281,771 - 689,763 Due from foreign banks 22 Uncollected cash items 4,356,533 - 145,313 + 255,362 Bank premises 81,422 + 273 + 10,930 Other assets 96,606 + 16,530 - TOTAL ASSETS 51,096,484 - 466,090 + 242,730 L I A B I L I T I ES Federal Reserve notes 26,932,161 + 166,700 + 336,262 Deposits: Member bank reserves 18,161,925 - 432,173 - 479,419 U, S, Treasurer—general account 500,981 + 16,994 + 92,384 Foreign 343,875 8,114 - 99,958 Other 271,966 - . 1,652 + , Total deposits 19,278^747 - 424,9^5 - 454,755 Deferred availability cash items 3,513,856 - 216,184 + 264,587 Other liabilities and accrued dividends 18,179 1,677 TOTAL LIABILITIES 49,742,943 - 474,966 + 144,417 C A P I T AL A C C O U N TS Capital paid in 338,159 34 + 19,952 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 240,246 8,842 24,380 TOTAL LIABILITIES AND CAPITAL ACCOUNTS - 466,090 + 242,730 Ratio of gold certificate reserves to deposit and F, R, note liabilities combined 47.5# .3# 1.7# Contingent liability on acceptances purchased for foreign correspondents 65,420 3,048 13,758 Industrial loan commitments 1,349 569 I ,™ MATURITY DISTRIBUTION OF LOANS AND SECURITIES^ SEPTEMBER 4, 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 423,698 5,064 — 90,260 16 4ays to 90 days 9,762 270 19,478 8,441,578 91 days to 1 year 17 87 12,102,040 Over 1 year to 5 years 171 680,635 Over 5 years to 10 years 750,375 Over iO years 1 Total 433,477 597 24,542 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 4. 1957 Phila- Cleve St, Minne- Kansas San Total Boston | New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousemds of dollars) A S S E TS Gold certificate account 21,100,392 1016,260 5,696,219 1084,116 1937,258 1363,554 791,730 3879,266 844,138 351,494 862,909 753,731 2519,717 Redemption fund for F. Re 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 1071,879 5,865,651 1141,560 2012,553 1435,401 839,950 4029,200 886,282 373,905 905,117 780,801 2596,399 F.R. notes of other Banks 359,719 34,990 56,703 51,794 17,475 24,902 68,515 24,864 9,993 20,044 8,939 13,562 27,938 Other cash 381,733 24,249 92,539 25,389 33,468 21,536 29,380 55,146 20,997 8,207 11,527 14,339 44,956 Discounts and advances 433,477 25,473 71,991 14,995 19,555 13,396 65,100 102,752 22,772 12,512 37,328 25,781 21,822 Industrial loans 597 318 250 29 Acceptances- Bought outright 24,542 -- 24,542 -- — " — -- U. S, Govt, securities: Bought outright- Bills 687,773 37,515 171,999 40,147 60,412 43,944 35,624 120,052 28,443 14,842 29,529 26,953 78,313 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 60,462 120,288 319,019 Total 23,423,135 1277,630 5,957,681 1367,279 2057,441 1496,574 1213,248 4060,532 966,664 505,471 1005,626 917,929 2667,052 Held under repurchase agreement Total U» S. Govt, sees. 23,423,135 1277.638 5.857.681 1367.279 2057.441 1496.574 1213,248 4088,532 968,664 505,471 1005,626 917,929 2667,052. 1303,429 5,954,214 1382,524 2076,996 1509,970 1278,348 4191,284 991,436 518,012 1042,954 943,710 2688,874 Total loans & securities 23,881,751 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 1 12 Uncollected cash items 4,356,533 309,780 8087672 302,464 382,792 373,326 323,215 733,032 178,556 117,568 228,115 182,386 416,627 Bank premises 81,422 5,119 10,471 4,603 9,328 7,218 5,789 6,759 5,638 5,136 4,785 5,621 10,955 Other assets 96,606 5.216 22.726 5,397 8.880 6,007 5.014 18,514 3,823 2.156 4.005 4.390 10.478 TOTAL ASSETS 51,096,484 2754,663 12,810,982 2913,733 4541,494 3378,361 2550,212 9058,802 2096,726 1045,029 2205,443 1944,810 5796,229 1 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON" SEPTEMBER 4, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York j Richmond Atlanta Chicago j Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,932,161 1599,104 6,332,943 1695,343 2553,119 2150,236 1253,435 5229,980 1195,671 466,523 1069,448 710,684 2675,675 Deposits: Member bank reserves 18,161,925 756,468 5,035,402 826,445 1477,946 803,860 905,339 3000,164 649,737 4 1 6 , 9 68 826,932 960,353 2502,311 U.S.Treas.-gen.acct. 500,981 26,706 81,486 26,188 50,873 34,568 33,114 49,421 36,090 23,959 5 8 , 3 86 33,867 46,323 Foreign 343,875 18,270 1/117,390 22,050 28,350 16,065 14,175 44,730 1 1 , 6 55 7,560 11,970 1 6 , 3 80 3 5 , 2 80 Other 271,966 387 "" 207,353 10,501 2,996 3,661 1 , 1 65 2,959 1,237 360 3,267 2 , 0 81 3 5 , 9 99 Total deposits 19,270,747 801,831 5,441,631 8 8 5 , 1 84 1 5 6 0 , 1 65 8 5 8 , 1 54 953,793 3097,274 698,719 448,847 900,555 1012,681 2619,913 Deferred availability cash items 3,513,856 273,954 659,595 238,554 304,8l4 297,240 279,028 532,135 149,404 95,291 180,860 152,946 350,035 Other liabilities and accrued dividends 18,179 1,164 4,269 886 2,480 914 910 3,085 674 648 646 644 1,859 TOTAL LIABILITIES 49,742,943 2575,053 1 2, 4 3 0 , 4 30 2 8 1 9 , 9 67 4420,578 3306,544 2487,166 8862,474 2044,468 1011,309 2151,509 1876,955 5647,482 CAPITAL ACCOUNTS Capital paid in 338,159 17,194 99,504 21,125 32,139 15,351 16,195 45,888 11,409 7,326 13,589 1 8 , 8 87 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 7 62 1,429 521 1,073 1,137 1,307 2,l40 Other capital accounts 240,246 14,457 57,719 15,851 21,378 15,523 12,910 38,590 10,997 6 , 8 01 11,225 10,153 24,642 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,096,484 2 7 5 4 , 6 63 1 2 , 8 1 0 , 9 82 2913,733 4541,494 3378,361 2 5 5 0 , 2 12 9 0 5 8 , 8 02 2 0 9 6 , 7 26 1045,029 2205,443 1944,810 5796,229 Conting. liab. on acceptances purchased for foreign correspondents 65,420 3,799 2/18,326 4,585 5,895 3,340 2,948 9,300 2,424 1,572 2,489 3 , 4 o6 7,336 Industrial loan commit. 1,349 40 68 73 1,168 F. R. notes outstanding 27,796,289 1660,461 6,5X8,380 1765,479 2610,670 2199,697 1315,101 5325,076 1231,427 522,673 1093,909 758,064 2787,232 Collat. for F. R. notes: Gold certificate acct. 11,978,000 580,000 3 , 1 7 0 , 0 00 6 4 0 , 0 00 1 1 3 0 , 0 00 8 9 5 , 0 00 400,000 2 5 0 0 , 0 00 4 5 0 , 0 00 1 3 0 , 0 00 3 0 0 , 0 00 2 8 3 , 0 00 1 5 0 0 , 0 00 Eligible paper 74,225 -- i4,575 -- -- - — 22,550 —- 37,100 -- U. S. Govt, securities 16,995,000 1150,000 3,600,000 1200,000 1550,000 1350,000 1000,000 3000,000 875,000 425,000 820,000 525,000 1500,000 Total collateral 29.047,225 1730,000 6,770,000 1854,575 2680,000 2245,000 1400,000 5500,000 1347,550 555,000 1157,100 808,000 3000,000 1/ After deducting $226, 485,000 participations of other Federal Reserve Banks, 2/ After deducting $47, 094,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis