H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOfyjERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 31, 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 daily figures of member ban kreserves for the week ending October 30 decreased $300 millio nto $18,837 million .Estimated required reserves decreased $96 million; and estimated excess reserves decreased $204 million to $3^8 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $355 million, compared with $46 million the week before. The principal changes reducing average reserves were decreases of $466 million in Federal Reserve float and $72 million in Federal Reserve, foldings of U. S, Government securities, and an increase of $54 millio nin Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $105 million in member bank borrowings, and decreases of $121 million in money in circulation and $52 million in "other" F» R, account s(net). Total Reserve Bank credit decreased $435 million. As of Wednesday, October 30, holdings of U. S, Government securities bought outright were $54 million lower than a week earlier, TJ. S .Government securities held under repurchase agreement were $6l million higher, and member bank borrowings were $l4l million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 30, 1957 Oct. 23, 19571 Oct. 31, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,179 - 43 -489 Held under repurchase agreement l6 - 29 - 24 Acceptances— Bought outright l6 — - 3 Held under repurchase agreement — 2 - 1 Loans, discounts, and advances-- Member bank borrowings 703 +105 + 29 Other 7 +6 Float 1,051 -466 - 11 Total Reserve Bank credit 24,972 -435 -4$4' Gold stock 22,671 + 6 +762 Treasury currency outstanding 5,132 +1 + 81 52,775 -428 +349 Money in circulation 31,008 -121 +213 Treasury cash holdings 786 +5 +6 Treasury deposits with F. R. Banks 518 + 54 - 21 Foreign deposits with F. R. Banks 318 +1 + 33 Other deposits with F. R. Banks 251 - 14 - 41 Other F. R. account s(net) 1,057 - 52 +132 33,938 -128 +322 Member bank reserves-- 18,837 -300 +27 Required reserves (estimated) 18,459 -96 + 38 Excess reserves (estimated) 348 -204 - 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 22,678 Treasury cash holdings 792 Treasury currency outstanding 5,134 Member bank) - Required (est.) 18,536 Money in circulation 31,020 reserves ) - Excess (est.) 230 On October 30, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,748 million, an increase of $290 million for the week and a decrease of $34 million from the comparable date a year ago. Digitized for FRASER 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 Oct. 30, Oct. 23, Oct. 31, 1957V 1957 1956 A S S E TS Gold certificate account 21,146,390 + 9,998 + 778,999 Redemption fund for F. R. notes 846,337 - 2,451 - 9,408 Total gold certificate reserves 21,992,727 + 7,547 + 769,591 F. R. notes of other Banks 412,015 + 1,642 + 80,555 Other cash 378,488 + 2,471 + 19,523 Discounts and advances 787,090 + 141,468 + 248,744 Industrial loans 570 - 27 - 297 Acceptances: Bought outright 15,894 + 4 - 33,,114466 Held under repurchase agreement - 870 U. S. Government securities; Bought outright-- Bills 438,473 54,400 - 361,547 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,173,835 54,400 - 51^547 Held under repurchase agreement 6l,300 +_ 61,300 - 17,700 Total U. S. Government securities 23,235,135 + -£900 - 532,247 Total loans and securities 24,038,689 + 148,345 - 287,816 Due from foreign banks 12 10 Uncollected cash items 4,777,842 - 337,011 + 26,914 Bank premises 82,701 1 + 10,880 Other assets 204,603 + 14,766 - 123,294 TOTAL ASSETS 51,887,077 - 162,241 + 496,343 L I A B I L I T I ES Federal Reserve notes 26,783,064 7,921 + 215,972 Deposits: Member bank reserves 18,765,793 67,651 + 98,116 U. S. Treasurer—general account 457,990 26,479 - 36,791 Foreign 391,172 89,383 + 116,032 Other 230,593 27,703 66,276 Total deposits 19,845,548 32,450 + 111,081 Deferred availability cash items 3,914,702 84,884 + 73,721 Other liabilities and accrued dividends 19,712 118 833 TOTAL LIABILITIES 50,563,026 125,373 + 399,941 C A P I T AL A C C O U N TS Capital paid in 340,914 444 + 20,544 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 208,001 37,312 + 21,877 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,887.077 162,241 + 496,343 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.2% + 1.4# Contingent liability on acceptances purchased for foreign correspondents 69,502 300 + 16,808 1.080 Industrial loan commitments 1.156 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 30, 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 777,393 60 5,428 112,850 16 days to 90 days 9,661 272 10,466 8,244,488 91 days to 1 year 36 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 FRASER Total 787,090 5?0 15,894 23,235,135 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER 30. 1957 Phila- Cleve- St. Minne- I Kansas Sari Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis I City Dallas IFrancisco (In thousands of dollars) A S S E TS Gold certificate account 21,146,390 954,847 5,802,531 1142,245 1931,349 1340,298 780,885 3850,443 867,077 367,517 775,695 769,443 2564,060 Redemption fund for 26,781 75.824 F. R* notes 646.337 Total gold certificate reserves 21,992,727 1009,632 5,978,387 1200,287 2007,146 1417,787 828,383 3998,821 908,802 389,804 817,570 796,224 2639,884 F.R. notes of other Banks 412,015 37,346 84,507 50,127 27,551 25,655 65,412 29,666 9,750 16,812 9,392 21,190 34,607 Other cash 378,488 23,772 82,278 23,764 27,493 24,155 27,552 60,659 20,296 9,706 11,561 16,390 50,862 Discounts and advances 787,090 42,957 61,302 17,810 84,135 57,992 71,593 278,793 19,691 19,776 100,775 17,588 14,678 26 Industrial loans 570 301 243 Acceptances- Bought outright 15,894 15,894 U. S. Govt, securities: Bought outright— Bills 438,473 23,917 109,654 25,594 38,514 28,016 22,711 76,536 18,133 9,462 18,825 17,184 49,927 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 2.801.750 152.824 700.664 163.547 246.100 179.01? 145.122 489.048 115.866 60.462 120.288 109,798 319,019 Total 23,173,835 1264,040 5,795,336 1352,726 2035,543 1480,646 1200,335 4045,016 958,354 500,091 994,922 908,160 2638,66b Held, under repurchase agreement 61.300 61.300 * mm mm — — — — — — Total U. S. Govt, sees. 23,235,135 1264.040 5.856.636 1352.726 2035.543 1480.646 1200.335 4045.016 958.354 500.091 994.922 908.160 2638.666 Total loans & securities 24,038,689 1307,298 5,933,832 1370,779 2119,678 1538,638 1271,928 4323,809 978,045 519,893 1095,697 925,748 2653,344 Due from foreign banks 12 1 1/ 3 1 1 1 1 2 2/ 2/ 2/ 1 1 Uncollected cash items 4,777,842 381,073 874,782 303,497 460,777 369,593 353,623 841,205 196,576 135,174 218,347 224,318 418,577 Bank premises 82,701 5,050 10,649 4,558 9,554 7,092 6,198 6,764 5,087 4,930 6,063 10,909 Other assets 204.603 U,237 49.917 11.520 18.021 13.156 10.545 37.405 , 4,399 8.614 8.842 22.771 TOTAL ASSETS 51,887,077 2775,409 13,014,355 2964,533 4670,221 3396,077 2563,642 9298,331 2127,492 1080,875 2166,4ll 1998,776 5830,955 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

H.4.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 30, 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 26,783,064 1581,249 6,285,891 1675,132 2551,421 2163,618 1251,493 5220,905 1195,739 456,001 1057,178 715,897 2628,540 Deposits: Member "bank reserves 18,765,793 762,670 5,333,047 887,411 1540,063 804,137 887,656 3092,631 678,561 436,527 819,688 966,057 2557,345 U.S.Treas.-gen.acct. 457,990 31,489 55,614 28,258 37,106 24,018 35,726 64,596 27,026 26,525 36,502 34,562 56,568 Foreign 391,172 21,982 1/118,671 26,530 34,110 19,329 17,055 53,818 14,023 9,096 14,402 19,708 42,448 Other 230,593 557 164,874 9,345 1,177 3,743 2,607 6,558 2,772 1,267 3,201 2,443 32,049 Total deposits 19,845,548 816,698 5,672,206 951,544 1612,456 851,227 943,044 3217,603 722,382 473,415 873,793 1022,770 2688,410 Deferred availability cash items 3,914,702 299,517 685,876 245,103 385,822 310,065 306,506 666,031 157,418 117,636 181,900 192,214 366,614 Other liabilities and accrued dividends 19,712 893 4,833 854 2,505 1,154 969 3,206 719 645 790 1,079 2,065 TOTAL LIABILITIES 50,563,026 2690,357 12,648,8C6 2872,633 4552,204 3326,064 2502,012 9107,745 2076,258 1047,697 2113,661 1931,960 5685,629 CAPITAL ACCOUNTS Capital paid in 340,914 17,254 101,431 21,190 32,169 15,504 16,313 46,030 11,481 7,357 13,654 18,899 39,632 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,l40 Other capital accounts 208,001 12,839 48,797 13,920 18,449 13,566 11,376 32,706 9,901 6,228 9,976 9,102 21,l4l TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,887,077 2775,409 13,014,355 2964,533 4670,221 3396,077 2563,642 9298,331 2127.492 1080,875 2l66,4il 1998,776 5030^955 Conting. liab. on acceptances purchased for foreign correspondents 69,502 4,031 2/19,532 4,865 6,255 3,544 3,127 9,869 2,572 1,668 2,64l 3,614 7,784 Industrial loan commit. 1,156 ~ — 36 108 72 940 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding |27,778,978j1651,557 6,525,184 1755,377 2624,574 2213,323 1305,827 5327,481 1252,928 516,165 1087,650 761,414 2757,498 Collat. 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 128,333 8,355 -- — -- — 19,450 — 100,528 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'l9l!333|l730l000 6]770[000 1848,355 2680,000 2295,000 1400,000 5500,000 1344,450 555,000 1220,528 808,000 3000,000 l/ After deducting $272, 501,000 participations of other Federal Reserve Banks, 2/ After deducting $49, 970,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis