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 26, 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 25 decreased $145 millio nto $18,963 million .Estimated required reserves decreased $72 million; and estimated excess reserves decreased $73 million to $613 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $487 million, compared with $258 millio nthe week before. The principal changes reducing average reserves were decreases of $125 million in Federal Reserve holdings of U. S. Government securities and $124 million in Federal Reserve float, and an increase of $249 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $156 million in member ban kborrowings, and decreases of $132 million in money in circulation and $43 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $97 million. As of Wednesday, September 25, holding sof U. S. Government securities bought outright were $96 million lower than a week earlier and member bank borrowings were $24l million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 25, 1957 Sept. l8~ 1957 1Sept. 26, 1956 (In millions of dollars Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,173 -113 -382 Held under repurchase agreement 5 - 12 - 16 Acceptances--bought outright 19 - 4 +2 Loans, discounts, and advances-- Member bank borrowings 1,100 +156 +395 Other 7 ~~ +6 Float 1,318 -124 - 76 Total Reserve Bank credit 25,622 - 97 - 72 Gold stock 22,628 + 1 +744 Treasury currency outstanding 5,123 + 2 + 79 53,373 - 95 +751 Money in circulation 31,052 -132 +338 Treasury cash holdings 769 + 14 - 5 Treasury deposits with F. R. Banks 759 +249 +108 Foreign deposits with F. R. Banks 386 - 43 +55 Other deposits with F. R. Banks 255 - 32 +36 Other F. R. account s(net) 1,189 - 7 +238 34,410 + 50 +769 Member bank reserves— 18,963 -145 - 17 Required reserves (estimated) 18,350 - 72 -127 Excess reserves (estimated) 613 - 73 +110 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 780 Treasury currency outstanding 5,126 Member bank) - Required (est.) 18,307 Money in circulation 30,977 reserves ) - Excess (est.) 287 On September 25, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,435 million, a decrease of $40 million for the week and a decrease of $280 million from the comparable date Digitizeda fo r yFReAaSrE Ra go. 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. 25, Sept. 1% Sept. 26, 1957 1957 1956 A S S E TS Gold certificate account 21,099,391 + 755,998 Redemption fund for F. R. notes 843,242 2,890 - 10,209 Total gold certificate reserves 21,942,633 2,890 + 745,789 F. R. notes of other Banks 441,077 + 31,780 + 57,180 Other cash 386,603 1,541 + 16,216 Discounts and advances 782,057 - 240,505 + 208,784 Industrial loans 605 4 - 338 Ac c eptanc e s - -bou gohuttright 16,879 3,953 - 74 U. S. Government securities: Bought outright-- Bills 416,873 95,600 - 247,297 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds Total bought outright 23,152,235 • . 95,600 Held under repurchase agreement Total U. S. Government securities Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 1 1 I " s CVJ 0 IS 8 23,152,235 • • 95,600 - 440,297 23,951,776 - 340,062 - 231,925 22 5,090,076 -1,273,865 + 144,573 81,915 + 17 + 10,964 128,460 + 14,674 - 153,566 52,022,562 -1,571,887 + 589,231 26,774,006 79,988 + 311,506 18,594,067 - 515,803 61,793 605,255 - 33,483 + 22,678 370,132 + 9,230 + 39,590 249,208 - ,3,892 + 37,23 19,818,662 - 543,948 + 37,71 4,105,544 - 874,403 + 219,629 18,522 + 900 - 1,164 50,716,734 -1,497,439 + 567,685 338,376 58 + 18,823 747,593 + 53,981 27,543 192,316 - 74,506 - 51,258 52,022,562 -1,571,887 + 589,231 47.1$ .6# 1.3# 67,004 + 5,143 17,716 1.331 + 4 1.102 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 25, 1957 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 772,965 60 6,101 80,600 16 days to 90 days 9,092 256 10,778 8,193,838 91 days to 1 year 127 12,088,540 Over 1 year to 5 years 162 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Total 782,057 505 15^79 23,152,235 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BAHK OH SEPTEMBE R25, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousandso f dollars) A S S E TS Gold certificate account 21,099,391 1054,265 5,673,078 1094,989 1957,085 1377,587 789,739 3818,312 829,925 344,589 820,662 763,681 2575,479 Redemption fund for F. R. notes 843,242 55,323 178,066 56,955 75,710 70,121 47,959 149,342 41,991 22,363 42,077 26,969 76,366 Total gold certificate reserves 21,942,633 1109,588 5,851,144 1151,944 2032,7951 447,708 837,698 3967,654 871,916 366,952 862,739 790,650 2651,845 F.R. notes of other Banks 441,077 42,618 74,171 56,917 23,242 29,532 69,180 34,390 12,223 18,031 14,243 21,257 45,273 Other cash 386,603 25,253 83,746 25,794 28,873 23,295 32,364 58,268 20,582 8,696 12,432 14,009 53,291 Discounts and advances 782,057 15,448 148,786 25,343 107,320 36,221 53,550 219,002 19,472 34,209 75,353 19,681 27,672 Industrial loans 605 310 267 28 Acceptances— Bought outright 16,879 16,879 - - — — — — -- — - — — U. S. Govt, securities: Bought outright— Bills 416,873 22,739 104,252 24,333 36,617 26,636 21,592 72,766 17,240 8,996 17,898 16,337 47,46? Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,61 81032,502 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 23,152,235 1262,862 5,789,934 1351,465 2033,646 1479,266 1199,216 4041,246 957,461 499,625 993,995 907,313 2636,206 Held under repurchase agreement Total U. S. Govt, sees. 23,152,235 1262,862 5,789,934 1351,465 2033,646 1479,266 1199,216 4041,246 957,461 499,625 993,995 907,313 2636,206 Total loans & securities 23,951,776 1278,620 5,955,599 1377,075 2140,966 1515,487 1252,766 4260,248 976,933 533,862 1069,348 926,994 2663,878 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,090,076 392,976 910,152 312,329 465,096 412,218 382,764 837,027 194,977 138,598 256,740 267,895 519,304 Bank premises 81,915 5,084 10,585 4,580 9,300 7,192 5,881 6,806 5,637 5,182 4,870 5,900 10,898 Other assets 128,460 7,015 31,106 7,147 11,328 8,235 6,611 23,748 5,100 2,821 5,378 5.803 14.168 TOTAL ASSETS 52,022,562 2861,155 12,916,509 2935,78 84711,602 3443,668 2587,265 9188,144 2087,369 1074,143 2225,751 2032,509 5956,659 l/ After deducting $16,000 participation sof 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 FEDERAL RESERVE BANK ON SEPTEMBER 25, 1957 1 I Phila- Cleve- St. Minne- Kansas San Total Boston { New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,774,006 1587,048 6,297,966 1678,438 2548,732 2148,040 1239,891 5215,633 1188,819 460,559 1057,787 713,143 2637,950 Deposits: Member bank reserves 18,594,067 808,919 55,,227711,,229966 831,259 1531,528 881111,,667766 887,860 2973,935 664488,,114422 424,721 844,328 968,854 2591,549 U.S.Treas.-gen.acct. 605,255 45,794 76,082 48,683 61,393 46,427 43,709 78,772 22,774 27,073 44,549 4l,4ll 68,588 Foreign 370,132 21,228 1/106,978 25,620 32,940 18,666 16,470 51,972 13,542 8,784 13,908 19,032 40,992 Other 249,208 517 " 189,904 9,918 1,538 2,951 1,764 2,155 1,378 458 1,629 2,312 34,684 Total deposits 19,818,662 876,458 5,644,260 915,480 1627,399 879,720 949,003 3106,834 685,836 461,036 904,4l4 1031,609 2735,813 Deferred availability cash items 4,105,544 320,237 609,801 250,091 441166,,663333 334455,,889999 333366,,004433 667755,,110011 116611,,445588 118,982 210,872 220,681 439,746 Other liabilities and accrued dividends 18,522 1,072 4,908 851 2,152 927 792 3,061 680 823 703 884 1,669 TOTAL LIABILITIES 50,716,734 2784,815 12,556,935 2844,860 4594,916 3374,586 2526,529 9000,629 2036,793 1041,400 2173,776 1966,317 5015,170 CAPITAL ACCOUNTS Capital paid in 338,376 17,200 99,544 21,131 32,157 15,364 16,254 45,904 11,420 7,335 13,602 18,910 39,555 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 192,316 12,l8l 44,709 13,007 17,130 12,775 10,541 29,761 9,304 5,815 9,253 8,467 19,373 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,022,562 2861,155 12,916,509 2935,788 4711,602 3443,668 2587,265 9188,144 2087,369 1074,143 2225,751 2032,509 5958,659 Conting. liab. on acceptances purchased for foreign correspondents 67,003 3,874 2/18,974 44,,667766 66,,001122 3,407 33,,000066 9,485 2,472 1,603 2,538 3,474 7,482 Industrial loan commit. 1,331 - - 22 68 -- 73 -- 1,168 -- FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,824,124 1657,547 6,522,958 1758,195 2622,756 2214,589 1301,285 5325,749 1241,565 519,938 1095,632 762,661 2801,249 Collat. for F. R. notes: Gold certificate acct. 11,978,000 580,000 3,170,000 640,000 1130,000 889955,,000000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 119,298 — — 24,923 — — - - — 19,250 — 75,125 -- " 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 29,092.298 1730.000 6.770.000 1864.923 2680.000 2245.000 1400.000 5500.000 1344.250 555.000 1195,125 808,000 3000.000 1/ After deducting $263,154,000 participations of other Federa lReserve Banks. 2/ After deducting $48,029,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis