H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.I OF THE FEDERAL RESERVE SYSTEM September 19, 1957 WEEKLY AVERAGES OF MEMBER BAH RESERVES, RESERVE BAH 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 September 18 increased $232 million to $19,108 million ,Estimated required reserves increased $153 million; and estimated excess reserves increased $79 million to $686 million .Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $258 million, compared with $4l8 million the week before. The principal changes supplying average reserves were an increase of $489 million in Federal Reserve float and a decrease of $72 million in money in circulation. The principal offsetting changes were decreases of $96 million in Federal Reserve holdings of U* S. Government securities and $8l million in member bank borrowings, and increases of $79 millio nin Treasury deposits with Federal Reserve Banks and $72 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $311 million. As of Wednesday, September 18, holdings of U. S. Government securities bought outright were $109 million lower than a week earlier and member bank borrowings were $302 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 18, 1957 Sept. 11, 1957 I Sept. 19, 1956 (In millions of dollars)" Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,286 - 81 -387 Held under repurchase agreement 17 - 15 - 1 Acceptances--bought outright 23 - 1 + 5 Loans, discounts, and advances-- Member bank borrowings 944 - 81 +290 Other 7 — + 6 Float 1,442 +489 - 47 Total Reserve Bank credit 25,719 +311 -133 Gold stock 22,627 + 1 +744 Treasury currency outstanding 5,121 + 2 + 78 53T5G5 +315 +690 Money in circulation 31,184 - 72 +374 Treasury cash holdings 755 - 4 - 16 Treasury deposits with F. R. Bank s510 + 79 + 57 Foreign deposits with F. R. Bank s429 + 72 + 84 Other deposits with F. R. Bank s287 + 8 + 52 Other F. R. account s(net) 1,196 + 2 +251 34,360 + 82 +802 Member bank reserves— 19,108 +232 -112 Required reserves (estimated) 18,4-22 +153 -102 Excess reserves (estimated) 686 + 79 - 10 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 22,628 Treasury cash holdings 76l Treasury currency outstanding 5,122 Member bank) - Required (est.) 18,529 Money in circulation 31,100 reserves ) - Excess (est.) 581 On September 18, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,475 million, a decrease of $56 million for the week and a decrease of $202 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4,1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 18, Sept. 11, Sept. 19, 1957 1957 1956 A S S E TS Gold certificate account 21,099,391 - 10,001 + 753,997 Redemption fund for F. R« notes 846,132 + 9,927 - 7,792 Total gold certificate reserves 21,945,523 - 74 + 746,205 F. R. notes of other Banks 409,297 + 17,931 + 51,307 Other cash 388,144 + 14,287 + 20,992 Discounts and advances 1,022,562 + 302,215 + 609,109 Industrial loans 609 + 66 - 297 Acceptances—bought outright 20,832 2,839 + 3,886 - U. S. Government securities: Bought outright— Bills 512,473 109,400 185,147 Certificates 19,933,612 +9 ,000,913 Notes -- -9,153,913 Bonds 2,801,75) Total bought outright 23,247,835 - 109,400 338,147 Held under repurchase agreement Total U, S, Government securities 23,247,835 - 109,400 - 338,147 Total loans and securities 24,291,838 + 190,042 + 274,551 Due from foreign banks 22 •» trnm , Uncollected cash items 6,363,941 +1,538,471 + 477,019 Bank premises 81,898 + 110 + 10,863 Other assets 113,786 + 1,881 - 157,784 TOTAL ASSETS 53,594,449 +1,762,648 +1,423,153 L I A B I L I T I ES Federal Reserve notes 26,853,994 - 75,800 + 334,411 Deposits: Member bank reserves 19,109,870 + 572,764 + 73,105 U. S. Treasurer—general account 638,738 + 149,017 + 312,850 Foreign 360,902 + 5,795 + 5,468 Other 253,100 - 7,534 + 32,878 Total deposits 20,362,610 + 720,042 + 424,301 Deferred availability cash items 4,979,947 +I.IO6.85O + 563,654 Other liabilities and accrued dividends 17,622 - 1,883 - 4,626 TOTAL LIABILITIES 52,214,173 +1,749,209 +1,317,740 C A P I T AL A C C O U N TS Capital paid in 338,318 + 116 + 19,029 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 -• Other capital accounts 266,822 + 13,323 + 32,403 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,594,449 +1,762,648 +1,423,153 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.5# - .6% + .9# Contingent liability on acceptances purchased for foreign correspondents 6l,86l W 657 + 10,930 Industrial loan commitments 1,32%. JL MATURITY DISTRIBUTION OF LOANS AND SECURITIES. SEPTEMBER 18, 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 1,014,320 106 8,136 127,900 16 days to 90 days 8,242 263 12,696 8,228,638 91 days to 1 year 87 12,102,040 Over 1 year to 5 years 153 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 1,022,562 509 20,832 23,247,835 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 18, 1957 Total Boston New York de P l h p i h l i a a . C l l a e n ve d - Richmond Atlanta Chicago Lo S u t i . s M a t p n o n l e i - s K C a i n t sa y s Dallas Fran S c a l n s cc (In thousands of dollars) A S S E TS Gold certificate account 21,099,391 1020,175 5,687,105 1097,585 1899,196 1391,023 780,856 3772,433 856,377 350,069 860,787 785,098 2598,687 Redemption fund for F. R. notes 846.132 55.446 178,777 57,161 75.960 71,053 48.063 149.588 42.062 22.380 42.111 27.010 76.501 Total gold certificate reserves 21,945,523 1075,621 5,865,882 1154,746 1975,156 1462,076 828,919 3922,021 898,439 372,449 902,918 812,108 2675,188 F.R. notes of other Banks 409,297 38,740 75,435 56,505 18,645 26,455 67,952 30,101 10,658 16,278 12,063 17,572 38,893 Other cash 388,144 24,577 91,329 27,320 30,255 22,817 30,488 56,298 20,291 8,184 11,906 15,176 49,503 Discounts and advances 1,022,562 21,973 239,086 46,460 122,920 26,771 44,370 352,352 12,807 35,202 65,068 39,281 16,272 Industrial loans 609 310 271 28 Acceptances— Bought outright 20,832 20,832 U. S. Govt, securities: Bought outright— Bills 512,473 27,954 128,160 29,914 45,014 32,744 26,544 89,453 21,193 11,059 22,002 20,083 58,353 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 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 23,247,835 1268,077 5,813,842 1357,046 2042,043 1485,374 1204,168 4057,933 961,414 501,688 998,099 911,659 2647,092 Held under repurchase agreement Total U. S. Govt, sees. 23.247.835 1268,077 5.813.842 1357.046 2042.043 1485.374 1204.168 4057.911 q6l.4l4 501.688 998.099 Q11.05Q P647.0QP Total loans & securities 24,291,838 1290,360 6,073,760 1403,777 2164,963 1512,145 1248,538 4410,285 974,221 536,918 1063,167 950,340 2663,364 Due from foreign banks 22 1 1/ 6 2 2 1 1 31 1 1 1 2 Uncollected cash items 6,363,941 480,002 1,247,690 404,405 584,582 472,705 476,666 1018,021 257,616 164,302 304,112 294,158 659,682 Bank premises 81,898 5,119 10,584 4,603 9,331 7,218 5,788 6,810 5,639 5,l6o 4,791 5,900 10,955 Other assets 113,786 6,246 27,078 6,335 9,949 7,230 5,903 21,373 4,527 2,527 4,726 5,317 12,575 TOTAL ASSETS 53,594,449 2920,666 13,391,764 3057,693 4792,883 3510,647 2664,255 9464,912 2171,392 1105,819 2303,684 2100,572 6110,162 l/ After deducting $16,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON SEPTEMBER l8, 1957 Phila- Cleve- i St. Minne- Kansas San Total Boston New York delphia land RRiicchhmmoonndd Atlanta Chicago | Louis apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 26,853,994 1591,790 6,291,285 1686,008 2555,291 2154,176 1250,065 5227,970 1193,739 463,062 1063,811 712,636 2664,161 Deposits: Member bank reserves 19,109,870 841,417 5,401,904 874,420 1564,186 839,067 897,936 3112,358 671,333 429,202 862,538 1019,972 2595,537 U.S.Treas.-gen.acct. 638,738 26,508 167,154 38,152 53,858 35,407 28,626 70,171 33,198 30,973 67,706 33,398 53,587 Foreign 360,902 20,532 1/106,376 24,780 31,860 18,054 15,930 50,268 13,098 8,496 13,452 l8,4o8 39,648 Other 253,100 364 194,534 9,733 1,038 3,462 1,553 1.498 3.223 385 1.382 2.080 33.848 Total deposits 20,362,610 888,821 5,869,968 947,085 1650,942 895,990 944,045 3234,295 720,852 469,056 945,078 1073,858 2722,620 Deferred availability cash items 4,979,947 358,857 846,735 328,467 461,427 386,038 404,914 798,541 202,939 138,833 239,113 244,375 569,708 Other liabilities and accrued dividends 17,622 1,132 A2I1 819 2,038 924 827 3,021 602 696 621 863 1.702 TOTAL LIABILITIES 52,214,173' 2840,60 013,012,365 2962,379 4669,698 3437,128 2599,851 9263,827 2118,132 1071,647 2248,623 2031,732 5958,191 CAPITAL ACCOUNTS Capital paid in 338,318 17,196 99,538 21,131 32,156 15,364 16,253 45,898 11,412 7,329 13,595 18,892 39,554 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 266,822 15,911 64,540 17.393 23,630 17,212 14.210 43.337 11.996 7.250 12.346 11.133 27.864 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,594,449 2920,666 13,391,764 3057,693 4792,883 3510,647 2664,255 9464.912 2171,392 1105.819 2303.684 2100.572 6ll0.l62 Conting. liab. on acceptances purchased for foreign correspondents 61,861 3,590 2/17,355 4,333 5,571 3,157 2,785 8,790 2,290 1,486 2,352 3,219 6,933 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,866,642 1656,490 6,517,855 1761,008 2621,944 2215,588 1306,211 5343,720 1246,978 520,335 1096,359 765,178 2814,976 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 123,465 : —— — — 4o,o4o —— —— —— —— 12,585 —— 64,840 —— — 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 ;; 29,096,465 1730,000 6,770,000 l886.040 2680.000 2245.000 1400.000 5500.000 1337.585 555.000 ll84.840 8C8.OOO 1000.000 —— :: .. •• rr ——-- ii — —» J y vywsv X- — 2/ After deducting $44,506,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis