H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 12, 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 ban kreserves for the week ending September 11 increased $116 million to $18,876 million. Estimated required reserves decreased $62 million; and estimated excess reserves increased $178 million to $633 million. Member bank 'borrowings at the Federal Reserve Banks exceeded excess reserves by $392 million, compared with $371 million the week before. The principal changes supplying average reserves were increases of $199 million in member bank borrowings and $95 million in Federal Reserve float, and a decrease of $54 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $112 million in Federal Reserve holdings of U. S. Government securities and an increase of $111 million in money in circulation. Total Reserve Bank credit increased $180 million. As of Wednesday, September 11, holdings of U. S. Government securities bought outright were $66 million lower than a week earlier, and member bank borrowings were $287 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 11, 1957 Sept. 4, 1957 Sept. 12, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,367 - 96 -462 - 16 + 3 Held under repurchase agreement 32 Acceptances-- Bought outright 24 - 1 + 5 Held under repurchase agreement - l Loans, discounts, and advances-- Member bank borrowings 1,025 +199 + 13 + 6 Other 7 — •» Float 953 + 95 - 92 +180 -526 Total Reserve Bank credit 25,408 Gold stock 22,626 *» — +743 Treasury currency outstanding 5,119 + 1 + 77 +181 +294 53,153 Money in circulation 31,256 +ili +346 Treasury cash holdings 759 - 5 - 11 - 87 Treasury deposits with F. R. Banks 431 - 54 Foreign deposits with F. R. Banks 357 + 17 - 24 Other deposits with F. R. Banks 279 - 2 + 27 Other F, R. accounts (net) 1,194 - 3 +253 34,278 + 65 +507 18,876 +116 -212 Member bank reserves-- Required reserves (estimated) 18,253 - 62 -151 Excess reserves (estimated) 633 +178 - 61 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 (?( Treasury currency outstanding 5>121 Member bank) - Required (est.) 1 ;337 Money in circulation 31>210 reserves ) - Excess (est.) On September 11, 1957, U. S. Government securities held in custody by the Federal Reserve Bank for foreign account were $3,531 million, an increase of $27 million for the week and a decrease of $160 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 Sept, 11, Sept 4, Sept. 12, 1957 1957 1956 A S S E TS Gold certificate account 21,109,392 9,000 + 763,999 Redemption fund for F. R. notes 836.205 2,101 - 20.431 Total sold certificate reserves 21,945,597 + S7B99 743,568 F. R. notes of other Banks 391,366 + 31,647 62,769 Other cash 373,857 7,876 14,887 Discounts and advances 720,347 286,870 116,403 Industrial loans 543 54 418 Acceptances—bought outright 23,671 871 5,211 U. S. Government securities; Bought outright- Bills 621,873 65,900 - 318,297 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds Total bought outright 23,357,235 • . 65,900 - 471,297 Held under repurchase agreement Total U. S. Government securities 23,357,235 • - 65.900 - 471.297 Total loans and securities 24,101,796 + 220,045 - 350,101 Due from foreign banks 22 Uncollected cash items 4,825,470 + 468,937 - 116,101 Bank premises 81,788 + 366 + 11,135 Other assets 111,905 + 15.299 - 161,829 TOTAL ASSETS 51,831,801 + 735,317 + 204.328 L I A B I L I T I ES Federal Reserve notes 26,929,794 2,367 + 337,749 Deposits: Member bank reserves 18,537,106 + 375,181 - 162,844 U. S. Treasurer—general account 489,721 - 11,260 - 64,201 Foreign 355,107 + 11,232 - 21,366 Other 260.634 - 11,332 + 18,027 Total deposits 19,642,568 + 363,821 - 230,384 Deferred availability cash items 3,873,097 + 359,241 5,265 Other liabilities and accrued dividends 19,505 + 1,326 + 813 TOTAL LIABILITIES 50,464,9^4 + 722,021 + 102,913 C A P I T AL A C C O U N TS Capital paid"in " 338,202 43 + 19,335 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 253.499 + 13.253 +_ 28.099 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,831.001 + 735.317 + 204,328 Ratio of gold certificate reserves to deposit and F. R. note liabilitie scombined 47.1$ .4# + 1.5# Contingent liability on acceptances purchased for foreign correspondents 62,518 2,902 + 10,914 Industrial loan commitments 1,403 54 1,020 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 11. 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 711,628 265 7,903 44,600 16 days to 90 days 8,706 20 15,768 8,421,338 91 days to 1 year 13 87 12,102,040 Over 1 year to 5 years 171 680,635 Over 5 years to 10 years 750,375 Over 10 years 1>358,247 Total 720,347 5*3 23,671 23,357,235 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 11, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia. land Louis apolis City Francsico (In thousands" of dollars) A S S E TS Gold certificate account 21,109,392 1010,347 5,751,857 1082,131 1921,364 1395,508 798,691 3796,713 844,649 373,256 816,118 771,417 2547,341 Redemption fund for F. R. notes 836,205 55,448 168,816 57,163 75,964 71,055 48,067 149,596 42,063 22,380 42,133 27,013 76,507 Total gold certificate reserves 21,945,597 1065,795 5,920,673 1139,294 1997,328 1466,563 846,758 3946,309 886,712 395,636 858,251 798,430 2623,848 F.R, notes of other Banks 391,366 36,053 70,905 56,775 17,699 28,005 64,712 28,592 9,761 16,828 12,194 15,873 33,969 Other cash 373,857 25,272 88,187 26,435 30,337 21,502 30,130 55,769 20,917 7,929 11,528 12,486 43,365 Discounts and advances 720,347 31,523 149,011 47,950 90,315 33,196 52,045 177,242 12,922 6,487 53,553 40,781 25,322 Industrial loans 543 318 196 29 Acceptances— Bought outright 23,671 23,671 U. S. Govt, securities: Bought outright-- Bills 621,873 33,921 155,519 36,300 54,624 39,734 32,211 108,549 25,717 13,420 26,699 24,370 70,809 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 60,462 120,288 109,798 319,019 Total 23,357,235 1274,044 5,841,201 1363,432 2051,653 1492,364 1209,835 4077,029 965,938 504,049 1002,796 915,346 2659,548 Held under repurchase agreement Total U. S. Govt, sees. 23,357,235 1274,044 5,841,201 1363,432 2051,653 1492,364 1209,835 4077,029 965,938 504,049 1002,796 915,346 2659,548 Total loans & securities 24,101,796 1305,885 6,013,883 1411,578 2141,968 1525,560 1261,880 4254,271 978,860 510,565 1056,349 956,127 2684,870 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,825,470 365,205 8267503 302,207 414,932 404,477 385,150 812,554 208,260 137,427 247,753 237,172 483,830 Bank premises 81,788 5,119 10,471 4,603 9,342 7,218 5,789 6,810 5,638 5,160 4,785 5,898 10,955 Other assets 111,905 6,044 26.635 6,267 10,087 7,211 5.794 20,981 4,427 2.493 4.689 4.977 12.300 TOTAL ASSETS 51,831,801 2809,374 12,957,263 2947,161 4621,695 3460,537 2600,214 9125,289 2114,576 1076,039 2195,550 2030,964 5893,139 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 CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 11, 1957 Phila- Cleve- ^ , _, . St. Minne- Kansas San AJ Total Boston New York de^p^ia land Richmond Atlanta uhicago Louis apolis City Dallas Francisco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,929,794 1597,388 6,302,825 1691,472 2558,872 2156,740 1254,063 5228,402 1196,657 465,192 1069,517 713,230 2695,436 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,537,106 773,643 5,267,731 859,918 1527,744 844,397 891,285 2956,958 663,988 428,954 836,568 971,874 2514,046 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 489,721 38,468 99,186 24,104 34,741 42,522 39,313 62,026 23,503 22,430 23,363 50,233 29,832 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 355,107 19,314 1/115,680 23,310 29,970 16,983 14,985 47,286 12,321 7,992 12,654 17,316 37,296 OOOOOttttthhhhheeeeerrrrr 260,634 403 ~ 199.479 10.169 1.090 4.032 2.122 884 1.192 365 1.953 2,233 36.712 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,642,568 831,828 5,682,076 917,501 1593,545 907,934 947,705 3067,154 701,004 459,741 874,538 1041,656 2617,886 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,873,097 299,697 591,409 242,665 344,791 322,121 333,889 627,828 163,449 116,498 196,213 206,997 427,540 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 19,505 1,174 4,974 984 2,441 1,016 833 3,184 697 645 752 713 2,092 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,464,964 2730,087 12,581,284 2852,622 4499,649 3387,811 2536,490 8926,568 2061,807 1042,076 2141,020 1962,596 5742,954 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 338,202 17,195 99,509 21,128 32,140 15,351 16,219 45,891 11,409 7,327 13,594 18,887 39,552 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l40 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 253,499 15.133 6l,149 16.621 22.507 16,432 13.564 40,980 11,508 7,043 11,816 10,666 26,080 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,831.801 2809.374 12.957.263 2947.161 4621,695 3460,537 2600,214 9125.289 2114.576 1076,039 2195.550 2030,964 5893,139 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 62,518 3,625 2/17,581 4,375 5,625 3,187 2,812 8,875 2,313 1,500 2,375 3,250 7,000 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1.403 94 68 -- — 73 -- -- 1,168 -- — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,875,486 1656,700 6,519,638 1761,954 2628,279 2214,977 1311,282 5329,206 1246,820 522,513 1097,026 767,836 2019,255 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,978,000 580,000 3,170,000 640,000 1130,000 895,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 106,555 -- -- 40,530 — -- — -- 12,700 — 53,325 -~ UU.. SS»» GGoovvtt,, sseeccuurriittiieess 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 TToottaall ccoollllaatteerraall 29.079.555 1730,000 6.770.000 1880,530 2680,000 2245,000 1400,000 5500,000 1337,700 555.000 1173,325 808,000 3000,000 1/ After deducting $239,427,000 participations of other Federal Reserve Banks? 2/ After deducting $44,937,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis