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 17, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of dally figures of member ban kreserves for the week ending October 16 decreased $121 million to $19,068 million .Estimated required reserves decreased $47 million; and estimated excess reserves decreased $74 million to $479 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $506 million, compared with $450 million the week before. The principal changes reducing average reserves were decreases of $14] million in U. S. Government securities held under repurchase agreement and $31 million bought outright, and $18 million in member ban kborrowings, and an increase of $62 million in money in circulation. The principal offsetting changes were increases of $80 million in Federal Reserve float and $12 million in gold stock, and a decrease of $40 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit decreased $112 million. As of Wednesday, October 16, holdings of U. S. Government securities bought outright were $53 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $95 million lower, and member bank borrowings were $95 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 16, 1957 IOct. 9, 19571 Oct. 17, 195&" (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,281 - 31 -565 Held under repurchase agreement 90 -143 + 76 Acceptances—bought outright 17 -- - 2 Loans, discounts, and advances-- Member bank borrowings 985 - 18 +271 Other 7 - *. + 6 Float 1,071 + 80 -144 Total Reserve Bank credit 25,451 -112 -359 Gold stock 22,658 + 12 +748 Treasury currency outstanding 5,128 + 1 + 81 53,236 -100 +570 Money in circulation 31,191 + 62 +238 Treasury cash holdings 776 + 2 + 1 Treasury deposits with F. R. Banks 506 + 8 +118 Foreign deposits with F. R. Banks 333 - 40 - 40 Other deposits with F. R. Banks 252 - 8 -177 Other F. R. account s(net) 1,110 - 2 +152 34,168 + 21 +292 Member bank reserves-- 19,068 -121 +178 Required reserves (estimated) 18,569 +276 Excess reserves (estimated) 479 - 74 - 98 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 22,665 Treasury cash holdings 78l Treasury currency outstanding 5,130 Member bank) - Required (est.) 18,636 Money in circulation 31,156 reserves ) - Excess (est.) 192 On October 16, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,497 million, an increase of $43 million for the week and a decrease of $174 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4*l(a) STATEMENT OF. CONDITION 0? THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands Off dollars) Change since October 16, October 9, October 1'J, 1957 1957 195 6 A S S E TS Gold certificate account 21,126,394 H 20,001 + 753,003 Redemption fund for F, R. notes 852,178 91 +_ 4,291 Total gold certificate reserves 21,978,572 r 19,910 +~ 757,294 F. R. notes of other Banks 375,400 2,107 + 44,103 Other cash 369,366 H 2,091 + 19,585 Discounts and advances 589,412 - 94,743 + 137,548 Industrial loans 601 10 259 Acceptances--bought outright 16,388 485 2,334 U* S. Government securities: Bought outright— Bills 523,973 53,000 - 447,597 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,259,335 - 53,000 - 600^597 Held under repurchase agreement 53,000 - 95,300 + 53,000 Total U. S. Government securities 23.312,335 - 148,300 - 547,597 Total loans and securities 23,918,736 - 243,538 412,642 Due from foreign banks 12 10 Uncollected cash items 6,225,840 +1,732,709 + 163,503 Bank premises 82,440 + 85 + 10,866 Other assets 174,062 + 14,557 132,297 TOTAL ASSETS 53,124,425 +1,523,707 450,402 L I A B I L I T I ES Federal Reserve notes 26,866,350 + 13,629 + 256,248 Deposits: Member bank reserves 18,827,944 + 136,029 - 96,238 U. S* Treasurer--general account 543,309 + 39,289 + 119,822 Foreign 326,157 - 10,609 - 14,722 Other 261,245 + 7,777 - 31,803 Total deposits 19,958,655 + 172,486 :22,941 Deferred availability cash items 4,933,204 +1,324,672 + 185,648 Other liabilities and accrued dividends 18,599 1,767 - 2,218 TOTAL LIABILITIES 51,776,808 +1,509,020 + 416,737 C A P I T AL A C C O U N TS Capital paid in 340,327 1,624 + 20,395 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 232,1? 13,063 40,711 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53.124,42 +1,523,707 + 450,402 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9# - ,2$ 1,4# Contingent liability on acceptances purchased for foreign correspondents 69,722 - 1,611 19,321 Industrial loan commitments 1,08% + ...339 1.369 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER l6, 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 580,183 60 5,598 91,000 16 days to 90 days 9,229 294 10,790 8,343,538 91 days to 1 year 96 12,088,540 Over 1 year to 5 years 151 680,635 Over 5 years to 10 years 750,375 Over 10 years 1.358,247 Total 589,412 m liOBB 23,312,335 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE Phila- Cleve- St. Minne- Kansas San Total Boston New York IRichmond Atlanta Chicago DDaallllaass delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,126,394 1046,637 5,676,378 1105,469 1900,565 1409,840 807,524 3839,336 868,528 346,997 845,021 772,522 2507,577 Redemption fund for F. R. notes 852,178 55,087 177,190 58,564 76,317 79,119 47,756 148,922 41,872 22,330 41,988 26,892 76,141 Total gold certificate reserves 21,978,572 1101,724 5,853,568 1164,033 1976,882 1488,959 855,280 3988,258 910,400 369,327 887,009 799,414 2583,718 F.R. notes of other Banks 375,400 34,794 78,637 47,174 22,867 19,746 62,364 24,880 8,667 14,213 11,007 20,506 30,545 Other cash 369,366 22,736 83,804 24,304 27,234 22,912 28,384 56,626 17,619 8,553 10,740 15,136 51,318 Discounts and advances 589,412 31,577 114,872 30,468 82,410 16,307 45,843 121,963 10,901 15,781 52,217 25,595 41,478 Industrial loans 601 301 274 26 -• Acceptances— 16,388 16,388 Bought outright U. S. Govt..securities: Bought outright- Bills 523,973 28,581 131,036 30,585 46,024 33,479 27,140 91,460 21,669 11,307 22,496 20,534 59,662 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 23,259,335 1268,704 5,816,710 1357,717 2043,053 1406,109 1204,764 4059,940 961,090 501,936 990,593 911,510 2640,401 Held under repurchase agreement 53,ooo 53,000 Total U. S« Govt, sees. 23,312,335 1268,704 5,869,718 1357,717 2043,053 1486,109 1204,764 4059,940 961,890 501,936 998,593 911,510 2648,401 Total loans & securities 23,918,736 1300,582 6,000,978 1388,459 2125,463 1502,416 1250,607 4181,903 972,791 517,743 1050,810 937,105 2689,879 Due from foreign banks 12 1 1/ 3 11 1 1 2 2/ 2 / 2/ 11 Uncollected cash items 6,225,840 464,792 1,178,015 394,920 566,253 479,144 475,890 1069,113 281,201 168,909 313,598 275,155 558,950 Bank premises 82,440 5,084 10,564 4,580 9,412 7,129 6,069 6,791 5,765 5,090 4,928 > 6,062 10,966 Other assets 174,062 9,554 42,516 9,805 15,171 11,045 9,018 31,710 6,958 3,774 7,356 7,724 19,431 TOTAL ASSETS 53,124,428 2939,267 13,248,085 3033,276 4743,283 3531,352 2687,613 9359,283 2203,401 1087,609 2285,348 2061,103 5944,808 1/ After deducting $9,000 participations of other Federa lReserve Banks. D2ig/iti zeLde fosr sF RtAShEaRn $500. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER l6. 1957 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 26,866,350 1590,073 6,297,773 1678,557 2559,149 2166,437 1250,502 5237,099 1196,878 459,026 1061,572 718,400 2650,884 Deposits: Member bank reserves 18,827,944 860,435 5,344,459 876,454 1540,160 840,711 913,313 2961,877 686,916 410,605 869,452 979,893 2543,669 U. S.Treas.-gen.acct. 543,309 38,851 94,263 34,834 36,527 46,481 38,402 68,706 32,153 31,279 31,693 38,454 51,666 Foreign 326,157 17,284 1/111,895 20,860 26,820 15,198 13,410 42,316 11,026 7,152 11,324 15,496 33,376 Other 261,245 536 197,444 11,272 793 3,106 3,511 2,792 1,338 963 1,088 2.261 36.141 Total deposits 19,958,555 917,106 5,748,061 943,420 1604,300 905,496 968,636 3075,691 731,433 449,999 913,557 1036,104 2664,852 Deferred availability cash items 4,933,204 352,920 825,334 317,054 457,563 386,954 404,761 848,603 222,402 144,430 255,852 237,977 479,354 Other liabilities and accrued dividends 18,599 857 5,089 882 2,174 959 932 2,937 628 672 688 960 1.821 TOTAL LIABILITIES 51,776,008 2860,956 12,876,257 2939,913 4623,106 3459,046 2624,031 9164,330 2151,341 1054,127 2231,669 1993,441 5796,911 CAPITAL ACCOUNTS aSypdtal paid in 340,327 17,200 101,074 21,164 32,168 15,470 16,292 45,969 11,454 7,353 13,644 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 Sarplus (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,l4o Other capital accounts 232,157 14,152 55,433 15,409 20,530 15,093 12,549 37,134 10,754 6,536 10,915 9,931 23,721 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,124,428 2939,267 13,248,085 3033,276 4743,283 3531,352 2687,613 9359,283 2203,401 1087,609 2283,348 2061,103 5944.808 Coating, liab. on acceptances purchased for foreign correspondents 69,722 4,042 2/ 19,608 4,879 6,273 3,555 3,137 9,897 2,579 1,673 2,649 3,624 7,806 Industrial loan commit. 1,085 —— —— 5 68 72 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,817,464 1651,597 6,530,285 1752,911 2621,948 2223,659 1301,962 5337,283 1248,214 517,728 1091,829 767,198 2772,850 Collate for F. R. notes: Gold certificate acct. 12,028,000 580,000 3,170,000 640,000 1130,000 945,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 83,642 —— 21,012 —— —— —— —— 10,660 —— 51,970 —— —— 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 29,106,642 1730,000 6,770.000 1861.012 2680,000 2295.000 1400,000 5500.000 1335.660 555.000 1171.970 808.000 1000.000" _1_/ A2f6t2e,0r 0d0educting $214, participations of other Federal Reserve Banks. 2/ After deducting $50,114,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis