H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 3, 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 October 2 increased $71 million to $19,034 million. Estimated required reserves increased $259 million; and estimated excess reserves decreased $188 million to $393 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $542 million, compared with $519 million the week before. The principal changes supplying average reserves were an increase of $l68 million in Federal Reserve holding of U. S. Government securities, and decreases of $266 million in Treasury deposits with Federal Reserve Banks, $77 million in "other" F. R. accounts (net), and $30 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $318 million in Federal Reserve float and $165 million in member bank borrowings. Total Reserve Bank credit decreased $318 million. As of Wednesday, October 2, holdings of U.. S. Government securities bought outright were $160 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $148 million higher, and member bank borrowings were $109 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items October 2, 1957 Sept. 25, 1957 October 3, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,294 +121 -308 Held under repurchase agreement 52 + 47 - 43 Acceptances—bought outright 17 - 2 Loans, discounts, and advances— Member bank borrowings 935 -165 +125 Other 7 * + 6 Float 1,000 -318 - 67 Total Reserve Bank credit 25,304 -318 -289 Gold stock 22,633ft. + 5 +749 Treasury currency outstanding 5,12^6 + 3 + 80 53,06rt -310 +$4o Money in circulation 31,038^ - 14 +269 Treasury cash holdings 776 + 7 — e* Treasury deposits with F. R. Banks 493 -266 - 58 Foreign deposits with F. R. Banks 356 - 30 + 31 Other deposits with F. R. Banks 253 - 2 + 39 Other F. R. accounts (net) 1,112 - 77 +159 34,028 -362 Tffl Member bank reserves— 19,034 + 71 + 99 Required reserves (estimated) 18,641 +259 +185 Excess reserves (estimated) 393 -188 - 86 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 22,645 Treasury cash holdings 774 Treasury currency outstanding 5,126 Member bank) - Required (est.) 18,749 Money in circulation 31,056 reserves ) - Excess (est.) 121 On October 2, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,430 million, a decrease of $5 million for the week and a decrease of $296 million from the comparable date Digitizead foyr eFRaArS EaRg o. 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 October 2, Sept. 25, October 3> 1957 1957 1956 A S S E TS Gold certificate account 21,113,3 94 + 14,003 + 765,001 Redemption fund for F. R. notes 842,0 30 1,212 - 11,420 Total gold certificate reserves 21,955,% 2% + 12,791 + 753,581 F. R. notes of other Banks 41 65,0 7 - 24,570 + 67,232 Other cash 388,8 53 + 2,250 25,751 Discounts and advances 673,6 17 - 108,440 301,831 Industrial loans 599 6 327 Acceptances--bought outright 16,8 78 1 1,073 U» S. Government securities: Bought outright-r- Bills 576,9 73 160,100 - 187,297 Certificates 19,933,6 12 +9,000,913 Notes -9,153,913 Bonds 2,801,7 50 Total bought outright 23,312,3 35 + 160,100 - 340,297 Held under repurchase agreement 148,2 00 + 148,200 +____66 Jt 200 Total U. S. Government securities 23,460, 5 25 + 308,300 - 274,097 Total loans and securities 24,151,629 + 199,853 - 577,328 22 Due from foreign banks Uncollected cash items 5,019,205 - 70,871 + 365,164 Bank premises 82,147 + 232 + 11,217 Other assets 143,794 + 15,334 - 140,498 TOTAL ASSETS 52,157,581 + 135,019 + 505,119 L I A B I L I T I ES Federal Reserve notes 26,820,025 + 46,019 + 272,631 Deposits: Member bank reserves 18,869,599 + 275,532 - 119,846 U. S. Treasurer--general account 447,879 - 157,376 - 98,820 Fore ign 367,452 - 2,680 - 10,334 Other 259,582 + 10,374 + 61,568 Total deposits 19,944,512 + 125,850 - 167,432 Deferred availability cash items 4,055,709 - 49,835 + 374,804 Other liabilities and accrued dividends 18,4-51 : 71 + 514 TOTAL LIABILITIES 50,638,697 + 121,963 + 460,517 Capilal §ald-i£" - - - - - - -- 338,497 121 + 18,890 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 205,251 +_ 12,935 48,269 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,157,581 + 135,019 505,119 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9$ 1,5# Contingent liability on acceptances purchased for foreign correspondents 68,007 1,003 20,056 Industrial loan commitments 966 36,5., l,i 4,5Q MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 2, 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 663,748 69 4,369 247,400 16 days to 90 days 9,869 281 12,509 8,335,338 91 days to 1 year 87 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 Digitized for FRATSoEtRa l 3731517 599 16,878 23,460,535 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDIT]C ON OF EACH FEDERAL RESERVE BANK ON OCTOBER 2, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 21,113,394 1033,138 5,667,021 1136,364 1901,108 1413,228 771,289 3769,302 831,019 359,478 Redemption fund for F. R, notes Total gold certificate reserves F.R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright- Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Govt, sees. Total loans & securities Due from foreign hanks Uncollected cash items Bank premises Other assets TOTAL ASSETS ?s DC t 806,761 2565,924 842,030 55,191 177,578 56,725 76,501 69,548 47,858 149,118 41,931 22,349 42,033 26,935 76,263 21,955,424 1088,329 5,844,599 1193,089 1977,609 1482,776 819,147 3918,420 872,950 381,827 900,795 833,696 2642,187 416,507 39,296 77,085 53,112 25,277 24,865 65,990 32,296 9,961 17,119 9,900 20,603 41,003 388,853 24,332 87,684 25,887 29,771 24,054 31,380 57,632 19,101 7,804 11,431 14,968 54,809 673,617 7,982 105,347 35,348 98,625 24,912 66,273 185,763 23,696 33,716 61,122 19,605 11,228 599 310 261 28 16,878 16,878 — — -- 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 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,609 781,178 2269,720 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 23,312,335 1271,595 5,829,972 1360,811 2047,709 1489,495 1207,509 4069,191 964,082 503,080 1000,868 913,587 2654,436 148.200 ikQ,200 —— —— —— - — , . - — 23.460.535 1271.595 5.978.172 1360.811 2047.709 1489.495 1207.509 4069.191 964.082 503.080 1000.868 913,587 2654,436 24,151,629 1279,887 6,100,397 1396,420 2146,334 1514,407 1273,782 4254,954 987,778 536,824 1061,990 933,192 2665,664 22 1 1/ 6 2 2 1 1 3 1 1 1 12 5,019,205 371,661 932,096 312,106 456,273 396,913 365,105 828,149 202,006 137,689 267,019 234,239 515,949 82,147 5,084 10,564 4,580 9,424 7,129 6,041 6,791 5,735 5,079 4,864 5,890 10,966 143.794 8.021 34.884 8.023 12.830 9.093 7,409 26.466 5,776 3.108 6.018 6,319 15,845 52,157,581 2816,613 13,087,315 2993,219 4657,520 3459,238 2568,855 9124,711 2103,308 1089,451 2262,018 2048,908 5946,425 l/ 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 OCTOBER 2, 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 26,820,025 1586,125 6,301,806 1678,505 2550,593 2159,805 1245,099 5218,901 1193,395 459,965 1061,583 715,592 2648,656 Deposits: Member bank reserves 18,869,599 781,891 5,360,050 910,473 1546,105 839,631 909,470 2948,963 667,001 448,195 872,510 1014,981 2570,329 U.S.Treas.-gen.acct. 447,879 34,443 67,758 26,426 24,822 37,982 33,268 48,381 19,454 23,075 46,726 32,206 53,338 Foreign 367,452 20,474 1/113,645 24,710 31,770 18,003 15,885 50,126 13,061 8,472 13,414 18,356 39,536 Other 259,582 536 ~ 199,338 10,490 1,854 3,284 2,663 800 882 636 988 2,198 35,913 Total deposits 19,944,512 t837,344 5,740,791 972,099 1604,551 898,900 961,206 3040,270 700,39» 400,370 933,630 1067,741 2699,116 Deferred availability cash items 4,055,709 315,364 676,345 250,009 382,223 329,810 300,151 664,566 157,827 115,526 213,623 198,211 452,054 Other liabilities and accrued dividends 18,451 779933 55,,223311 044 844 22,,335544 809944 990033 3,07 93,079 662200 623 6672b3 762776 727 1,707 1,707 TOTAL LIABILITIES 50,830,697 2739,626 12,724,173 2901,457 4539,721 3309,409 2507,439 0934,016 2052,240 1056,492 2209,520 1902,271 5001,533 C&PITAL ACCOUNTS Capital paid in 338,497 17,200 99,538 21,142 32,159 15,366 16,267 45,908 11,427 7,344 13,607 18,916 39,623 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,i4o Other capital accounts 205,251 12,828 48,283 13,830 18,241 13,520 11,208 32,137 9,789 6,022 9,771 8,906 20,716 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,157,581 2816,613 13,087,315 2993,219 4657,520 3459,238 2568,855 9124,711 2103,308 1089,451 2262.018 2048,908 5946,425 Conting. liab. on acceptances purchased for "foreign correspondents 68,0071 3,944 2/19,115 4,760 6,120 3,468 3,060 9,656 2,516 1,632 2,584 3,536 7,616 Industrial loan commit. 966, — 18 68 72 808 FEDERAL RESERVE AGENTS' ACCOUNTS F„ R. notes outstanding 27,804,310(1662,878 6,527,353 1756,385 2629,784 2212,942 1296,921 5311,774 1241,938 519,274 1090,740 766,425 2707,888 Oollat. for F. R. notes: 130,000 300,000 283,000 1500,000 Gold certificate acct. 11,978,000! 580,000 3,170,000 640,000 1130,000 895,000 400,000 2500,000 450,000 Eligible paper 119,222 34,892 -- -- — — 23,455 -- 60,675 — -— 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',09g[22211730^000 o^O^OOO 1874,892 2600,000 2245,000 1400,000 5500,000 1340,455 555,000 1100,075 000,000 3000,000 1/ After deducting $253,807,000 participations of other Federal Reserve Banks. 2/ After deducting $48,892,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis A