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 10, 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 9 increased $155 million to $19,189 million. Estimated required reserves decreased $4l million; and estimated excess reserves increased $196 million to $589 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $414 million, compared with $542 million the week before. The principal changes supplying average reserves were increases of $l8l million in U. S. Government securities held under repurchase agreement and $18 million bought outright, $68 million in member bank borrowings, and $13 million in gold stock. The principal offsetting changes were increases of $91 million in money in circulation and $17 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $259 million. As of Wednesday, October 9; holdings of U. S. Government securities bought outright were unchanged from a week earlier, U. S. Government securities held under repurchase agreement were only $100,000 higher, an dmember bank borrowings were $11 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items October 9, 1957 October 2, 19571 Oct. 10, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,312 + 18 -454 Held under repurchase agreement 223333 +181 +159 Acceptances-- Bought outright 17 - 2 Held under repurchase agreement * -- Loans, discounts, and advances-- Member bank borrowings 1,003 + 68 +146 Other 7 + 6 Float 991 - 9 + 1 Total Reserve Bank credit 25,563 +259 Gold stock 22,646 + 13 +740 Treasury currency outstanding 5,127 + l + 81 +678 53,336 +273 Money in circulation 31,129 + 91 +249 Treasury cash holdings 774 - 2 + 4 Treasury deposits with F. R. Banks 498 + 5 + 9 Foreign deposits with F. R* Banks 373 + 17 - 32 Other deposits with F. R. Banks 260 + 7 + 33 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,112 - — +154 34,147 +119 +4l8 +260 Member bank reserves-- 19,189 +155 Required reserves (estimated) 18,600 - 4l +278 Excess reserves (estimated) 589 +196 - 18 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 22,655 Treasury cash holdings 786 Treasury currency outstanding 5,127 Member bank) - Required (est.) 18,548 Money in circulation 31,145 reserves ) - Excess (est.) 144 On October 9, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,454 million, an increase of $24 million for the week and a decrease of $266 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 October 9, October 2, October 10, 1957 A S S E TS . Gold certificate account 21,106,393 7,001 + 732,999 Redemption fund for F. R. notes + 10,239 + 2,162 Total gold certificate reserves 21,958,352 + 3,238 + 735,161 F. R. notes of other Banks 377,507 - 39,000 + 62,745 Other cash 367,275 • 21,578 + 25,988 Discounts and advances 684,155 + 10,538 + 105,094 Industrial loans 611 + 12 - 304 Acceptances- -bought outright 16,873 - 5 - 2,078 U. S. Government securities: Bought outright— Bills 576,973 367,997 Certificates 19,933,612 +9 ,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,312,335 - 520,997 Held under repurchase agreement 148,300 + 100 + 116,300 Total U. 8. Government securities 23.^60*635 + 100 - 404,697 Total loans and securities 24,162,274 + 10,645 - 301,985 Due from foreign tanks 12 - 10 - 10 Uncollected cash items 4,493,131 - 526,074 + 71,142 Bank premises 82,355 + 208 + 11,314 Other assets 15&505 + 15,711 - 135,573 TOTAL ASSETS 51,600,721 - 556,860 + 468,782 1 I A B IL I II E S Federal Reserve notes; 26,852,721 + 32,696 + 220,846 Deposits: Member bank reserves 18,691,915 177,684 + 103,423 U. S. Treasurer--general account 504,020 •f 56,141 + 78,567 Foreign 336,766 * 30,686 + 33,549 Other 253,468 - 6,114 - 43,524 Total deposits 19,786,1^9 - 158,343 + 172,015 Deferred availability cash items 3,608,532 - 447,177 + 46,870 Other liabilities and accrued dividends 20,366 + 1,915 + 481 TOTAL LIABILITIES 50,267,788 - 570,909 + 440,212 C A P I T AL A C C O U N TS Capital paid in 338,703 206 + 18,833 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 219,094 ,13,843 44,244 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,600,721 556,860 + 468,782 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.1^ + + 1,2# Contingent liability on acceptances purchased for foreign correspondents 71,333 + 3,326 Industrial loan commitments 746 - PPO ! m MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 9, 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 674,538 69 4,281 157,100 16 days to 90 days 9,617 293 12,592 8,425,738 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,m Digitized for FR T AS o E t R a l 684,155 m 16,873 23,460^635 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION CP EACH FEDERAL RESERVE BANK OH OCTOBER 9, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston I New York Richmond Atlanta Chicago Dallas delphla land Louie apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 1,106,393 1041,866 5,695,962 1149,125 1872,322 1421,812 815,978 3736,898 862,892 359,967 832,055 754,179 2563,337 Redemption fund for F. R. notes 852,269 55.091 177.215 58.565 76,322 79,129 47,769 148,933 41,875 22.334 41.992 26,898 76.146 Total gold certificate reserves 21,958,662 1096,957 5,873,177 1207,690 1948,644 1500,941 863,747 3885,831 904,767 382,301 874,047 781,077 2639,483 F.R. notes of other Banks 377,507 34,285 74,821 48,421 23,770 22,661 62,354 25,871 8,060 14,692 9,478 20,475 32,619 Other cash 367,275 22,363 84,542 22,756 26,964 21,687 30,265 55,988 17,375 7,969 10,801 14,524 52,041 Discounts and advances 684,155 10,457 49,752 29,818 142,625 27,732 49,992 269,513 10,156 17,196 46,682 22,754 7,478 Industrial loans 611 310 273 28 Acceptances— Bought outright 16,873 16,873 U. S. Govt, securities: Bought outright— Bills 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 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 17Q.01P 145. IP? 489.048 115.866 6^4,6? 1?0,?88 109,798 319,019, Total 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 Held under repurchase agreement 148,300 148,300 Total U. S. GOvt. sees. 23,460,635 1271,595 5,978,272 1360,811 2047,709 1489,495 1207,509 4069,191 964,082 503,080 1000,868 913.587 2654.436 Dotal loans & securities 24,162,274 1282,362 6,044,897 1390,902 2190,334 1517,227 1257,501 4338,704 974,238 520,304 1047,550 936,341 2661,914 Due from foreign banks 12 1 1/3 1 1 1 1 2 2/ 2/ 2/ 1 1 Uncollected cash items 4,493,131 356,329 8047916 275,005 368,018 377,509 348,103 746,755 205,%09 133,il5 223,970 199,662 454,040 Bank premises 82,355 5,084 10,564 4,580 9,424 7,128 6,045 6,791 5,765 5,082 4,864 6,062 10,966 Other assets 159,505 8,807 38,847 8,926 14,211 10.089 8,213 29,301 6,377 3,434 6.714 6,952 12*634. TOTAL ASSETS 51,600,721 2806,188 12,931,767 2958,281 4581,366 3457,243 2576,229 9089,243 2121,991 1067,197 2177,424 1965,094 5868,698 l/ After deducting $9,000 participations of other Federal Reserve Banks. Dig2it/ize dL feors FsR AtShERa n $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(d STATEMENT OF CONDITION OF EACH FEDERA] RESERVE BANK ON OCTOBER 9 1957 Cleve- St. Minne- Kansas San Total Boston | New York Richmond Atlanta Chicago Dallas land Louis apolis City Franciscc L I A B I L I T I ES Federal Reserve notes 26,852,721 1588,050 6,299,610 1676,998 2556,688 2164,i4l 1247,173 5226,273 1195,448 459,992 1062,394 717,169 2658,785 Deposits: Member bank reserves 18,691,915 803,848 5,345,498 893,791 1522,718 843,150 911,248 2944,804 671,974 429,233 830,753 954,424 2540,474 U.S.Treas.-gen.acct. 504,020 34,817 78,869 40,505 36,066 49,974 41,840 59,949 24,269 21,610 36,799 29,169 50,153 Foreign 336,766 19,430 1/ 95,901 23,450 30,150 17,085 15,075 47,570 12,395 8,040 12,730 17,420 37,520 m Other 253,468 368 195,192 9,325 1,393 3,733 2,143 1,707 760 188 833 2,431 351 Total deposits 19,706,169 050,463 5,715,460 967,071 1590,327 913,942 970,306 3054,030 709,398 459,071 881,115 1003,444 2663,542 Deferred availability cash items 3,608,532 280,998 544,041 220,688 312,842 307,4o6 295,795 613,042 164,840 114,212 180,057 176,484 398,127 Other liabilities and acer-aed dividends 20,366 1,025 5,880 959 2,526 1,050 858 3,449 695 702 722 826 1.674 LIABILITIES 50,267,700 2728,536 12,564,991 2865,716 4462,383 3386,539 2514,132 8896,794 2070,381 1033,977 2124,288 1897,923 5722,128 CAPITAL ACCOUNTS Capital paid in 338,703 17,200 99,570 21,152 32,160 15,434 16,274 45,960 11,454 7,345 13,615 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 2,140 Other capital accounts 219,094 13,493 51,885 14,623 19,424 14,327 11,882 34,639 10,304 6,282 10,401 9,440 22,394 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,600,721 2806,188 12,931,767 2958,281 4581,366 3457,243 2576,229 9089,243 2121,991 1067,197 2177,424 1965,094 5868,698 Costing, liab. on acceptances purchased for foreign correspondents 71,333 4,135 2/ 20,069 4,991 6,417 3,636 3,208 10,125 2,638 1,711 2,709 3,708 7,986 Industrial loan commit. 746 6 68 72 600 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,800,861 1658,548 6,521,073 1755,269 2626,115 2223,383 1299,692 5323,649 1238,174 517,882 1088,197 765,966 2782,913 Collat. for F. R. notes: Gold certificate acct. 11,978,000 580,000 3,170,000 640,000 1130,000 895,000 4oo,ooo 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 85,712 -- 29,362 -- -- -- -- 9,915 - - 46,435 — 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 29,058,712 1730,000 6,770,000 1869,362 2680,000 2245,000 1400,000 5500.000 1334,915 555.000 1166,435 808.000 3000.000 1:/ After deducting $240,865,000 participations of other Federal Reserve Banks. -2/ After deducting $51,264,060 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis s « A.