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 24, 1957 WEEKLY AVERAGES OF MEMBER BAM 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 23 increased $69 million to $19,137 million. Estimated required reserves decreased $4 million; and estimated excess reserves increased $73 million to $552 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $46 million, compared with $506 million the week before. The principal changes supplying average reserves were an increase of $446 million in Federal Reserve float, and decreases of $62 million in money in circulation, $42 million in Treasury deposits with Federal Reserve Banks, and $16 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $387 million in member bank borrowings and $1°4 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $44 million. As of Wednesday, October 23, holdings of U. S. Government securities bought outright were $31 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $53 million lower, and member bank borrowings were $56 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 23>,.1957 Oct. 16, 1957 I Oct. 24, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,222 - 59 -514 Held under repurchase agreement 45 - 45 + 45 Acceptances-- Bought outright 16 - 1 - 3 Held under repurchase agreement 2 + 2 + 2 Loans, discounts, and advances— Member bank borrowings 598 -387 + 34 Other 7 — -m + 6 Float 1,517 +446 - 30 Total Reserve Bank credit 25,407 - 44 -459 Gold stock 22,665 + 7 +756 Treasury currency outstanding 5,131 + 3 + 83 53,203 - 33 +379 Money in circulation 31,129 - 62 +265 Treasury cash holdings 781 + 5 + 4 Treasury deposits with F. R. Banks 464 - 42 - 4l Foreign deposits with F. R. Banks 317 - 16 + 24 Other deposits with F. R. Banks 265 + 13 - 26 Other F. R, accounts (net) 1,109 - 1 +153 34,066 -102 +379 Member bank reserves-- 19,137 + 69 Required reserves (estimated) 18,585 - 4 + 11 Excess reserves (estimated) 552 + 73 - 11 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 22,668 Treasury cash holdings 786 Treasury currency outstanding 5,131 Member bank) - Required (est.) 18,507 Money in circulation 31*033 reserves ) - Excess (est.) 326 On October 23, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,458 million, a decrease of $39 million for the week and a decrease of $303 million from the comparable date Digitizead foyre FaRrA SEaRg o. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since October 23, October 16, October 24, 1957 1957 1956 A S S E TS Gold certificate account 21,136,392 + 9,998 769,000 Redemption fund for F. R. notes 848,788 - 3,390 - 10,004 6,608 Total gold certificate reserves 21,985,180 + + 75d,99& 56,666 F. R. notes of other Banks 410,373 + 34,973 + 6,651 Other cash 376,017 + + 18,182 192;862 Discounts and advances 645,622 + 56,210 - 280 Industrial loans 597 - 4 498 Acceptances—bought outright 15,890 - 2,110 U, S. Government securities: Bought outright— Bills 492,873 31,100 302,147 Certificates 19,933,612 - — +9 ,000,913 Notes -- -9,153,913 Bonds 2,801,750 •* ** Total bought outright 23,225/235 - 31,100 - 455,147 Held under repurchase agreement - 53,000 — ~BCioo Total U- S, Government securities 23,228,235 - - 455,157 28,392 Total loans and securities 23,890,344 - 650,399 10 Due from foreign banks 12 w m - Uncollected cash items 5,114,853 -1,110,987 + 227,570 Bank premises 82,702 + 262 + 10,846 Other assets 189,837 15,775 - 126,761 TOTAL ASSETS 52,049,318 -1 ,075,110 + 295,090 L I A B I L I T I ES Federal Reserve note's ~~ 26,790,985 75,365 255,551 Deposits: Member bank reserves 18,833,444 + 5,500 - 99,434 U. S. Treasurer—general account 484,469 - 58,840 122,008 Foreign 301,789 24,368 + 25,060 • Other 258,296 - 2,949 • 39,638 Total deposits 19,877,998 - 80,657 • 236,020 Deferred availability cash items 3,999,586 - 933,618 + 239,592 Other liabilities and accrued dividends 19,830 + 1,231 - 1,055 TOTAL LIABILITIES 50,688,399 -1,088,409 + 258,068 C A P I T AL A C C O U N TS Capital paid in 340,470 + 143 20,221 Surplus (Section 7) 747,593 « + 53,981 Surplus (Section 13b) 27,543 - - Other capital accounts 245,313 + 13,156 - 37,180 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,049,318 -1,075,110 + 295,090 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.1# + .2 $ + I.636 Contingent liability on acceptances purchased for foreign correspondents 69,802 + 80 + 16,387 Industrial loan commitments 1,130 + >5, , - , 1,30.L MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 23, 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 639,126 60 6,010 59,550 16 days to 90 days 6,496 299 9,880 8,290,888 91 days to 1 year 87 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 Digitized for FRTASoEtRa l 645,622 597 15,890 23,228,235 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1lb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 23. 1957 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,136,392 1011,013 5,914,553 1086,147 1940,414 1371,284 803,794 3719,116 864,192 352,500 809,079 770,275 2494,025 Redemption fund for 58,269 F. R. notes 848,788 54,906 176,415 76,012 78,159 47,603 148,600 41,790 22,304 41,931 26,837 75,962 Total gold certificate reserves 21,985,180 1065,919 6,090,968 1144,4l6 2016,426 1449,443 851,397 3867,716 905,982 374,804 851,010 797,112 2569,987 F.R. notes of other Banks 410,373 35,421 88,422 50,328 25,577 24,753 67,657 26,397 10,177 14,503 11,498 20,266 35,374 Other cash 376,017 22,892 85,120 24,310 27,014 23,600 29,753 58,408 19,084 9,008 10,930 14,557 51,341 Discounts and advances 645,622 7,907 60,697 56,755 80,410 43,912 46,193 192,643 21,541 22,631 57,420 18,685 36,828 Industrial loans 597 301 270 26 Acceptances-- Bought outright 15,890 15,890 U. S. Govt, securities: Bought outright— Bills 492,873 26,884 123,258 28,770 43,293 31,491 25,529 86,032 20,383 10,636 21,161 19,315 56,121 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 23,228,235 1267,007 5,808,940 1355,902 2040,322 1484,121 1203A53 4054^512 960^604 501,265 997,258 910,291 2644,860 Held under repurchase agreement Total U. S. Govt, sees. 23,228,235 1267,007 5,808,940 1355*902 2040,322 1484,121 1203,153 4054,512 960,604 501,265 997.258 910.291 2644,860 Total loans & securities 23,890,344 1275,215 5,885,527 1412,927 2120,732 1528,033 1249,346 4247,155 982,145 523,922 1054,678 928,976 2681,688 Due from foreign banks 12 1 1/3 1 1 -1 1 2 2/ 2 / 2/ 11 Uncollected cash items 5,114,853 414,983 905,873 302,842 456,298 414,993 394,982 871,859 218,902 149,254 251,237 252,436. 481,194 Bank premises 82,702 5,084 10,648 4,558 9,440 7,129 6,208 6,791 5,852 5,090 4,930 6,063 10,909 Other assets 189,837 10.441 46.581 10,627 16.586 12,023 9,801 34,776 7.578 4.112 7.956 8.313 21.043 TOTAL ASSETS 52,049,318 2829,956 13,113,142 2950,009 4672,074 3459,975 2609,145 9113,104 2149,720 1080,693 2192,239 2027,724 5851,537 1/ After deducting $9,000 participations of other Federal Reserve Banks. 2/ Less than $500, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 23, 1957 Total Boston New York ^ 1 %: ° w" Rlchoond Atlanta Chica«° Louis Dallas Franco (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,790,985 1582,748 6,282,289 1676,133 2554,334 2159,179 1247,929 5230,237 1193,540 457,492 1057,598 716,498 2633,008 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,833,444 827,195 5,473,116 879,273 1556,138 834,425 897,488 2902,733 688,243 440,319 823,981 969,4l4 2541,119 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 484,469 32,984 54,390 30,270 35,996 39,247 43,854 68,997 28,4i8 22,828 40,921 38,605 47,959 17,110 1/ 20,650 7,080 11,210 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 301,789 89,684 26,550 15,045 13,275 41,890 10,915 15,340 33,040 258,296 OOOOOttttthhhhheeeeerrrrr 249 201.278 9,748 651 3,131 2,237 1,581 1,702 255 1,212 2,109 34.141 877,538 5,818,468 939,941 891,848 956,854 3015,201 470,482 877,324 1025,468 2656,261 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,877,998 1619,335 729,278 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 289,655 631,948 238,867 374,852 335,582 340,014 666,882 118,314 216,583 411,003 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,999,586 173,609 202,277 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 19,830 1,001 5,249 927 2,351 1,050 894 3,401 677 637 723 1.048 1.872 2855,868 4550,872 8915,721 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,688,399 2750,942 12,737,954 3387,659 2545,691 2097,104 1046,925 2137,922 1959,597 5702,144 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 101,092 21,166 32,169 46,022 11,472 13,650 18,890 39,632 CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 340,470 17,253 15,477 16,293 7,354 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l40 14.802 58,775 16,185 21.634 15,896 13,220 39,511 11,292 6,821 11.547 10.422 25.208 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 245,313 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,049,318 2829,956 13,113,142 2950,009 4672,074 3459,975 2609,145 9113,104 2149,720 1080,693^192,239 2027,724 5851,537 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... •» «i GO r-i 4,048 2/ 19,616 6,282 3,560 3,l4l 9,912 2,583 2,652 3,630 7,817 4,886 1,675 •• XO X08 *"• — •• *72 "*«*» Q^O «• — •• FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,809,996 1646,135 6,525,196 1755,449 2629,850 2218,615 1307,674 5339,655 1251,705 516,680 1091,483 762,921 2764,633 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 580,000 3,170,000 640,000 1130,000 945,000 4co,ooo 2500,000 450,000 130,000 300,000 283,000 1500,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,028,000 EElliiggiibbllee ppaappeerr 120,773 —— 42,300 —— — -- —— 21,300 57,173 -** 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 29,143,773 1730,000 6.770,000 1882.300 2680.000 2295,000 1400.000 5500.000 1346.300 555.000 1177.173 808.000 1000.000 1/ After deducting $212,105,OOO participations of other Federal Reserve Banks. 2/ After deducting $$0,186,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis