H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release a.4.1 OF THE FEDERAL RESERVE SYSTEM November 7, 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 6 $18,963 November increased $126 million to million. Estimated required reserves increased $54 million; and estimated excess reserves increased $72 million to $423 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $394 million, compared with $352 million the week before. The principal changes supplying average reserves were increases of $246 million in Federal Reserve holdings of U. S. Government securities, $114 million in member bank borrowings, and $36 million in gold stock, and a decrease of $57 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $108 million in Federal Reserve float, and increases of $106 million in money in circulation, $62 million in "other" deposits with Federal Reserve Banks, and $49 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $253 million. As of Wednesday, November 6, holdings of U. S. Government securities bought outright were $159 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $176 million higher, and member bank borrowings were $ 98 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 6, 1957 Oct. 30, 1957 I Nov. 7, 1956 (In millions of dollars) Reserve Bank credit; U. S. Government securities- 23,256 Bought outright--System account + 77 -510 185 +169 Held under repurchase agreement +127 Acceptances-- 17 Bought outright + 1 - 3 Held under repurchase agreement * * - 4 Loans, discounts, and advances— 817 Member bank borrowings +114 - 11 + 6 Other 7 — <W -108 Float 943 -l4l +253 Total Reserve Bank credit 25,225 -537 + 36 Gold stock 22,707 +798 + 81 Treasury currency outstanding 5,135 +292 +553 53,067 +106 +151 Money in circulation 31,114^ + 11 Treasury cash holdings 792 + 6 Treasury deposits with F. R. Banks 461 - 57 - 40 Foreign deposits with F. R. Banks 367 + 49 + 83 + 62 Other deposits with F. R. Banks 313 - 32 - 1 Other F. R. accounts (net) 1,056 +209 +363 34,104 +166 Member bank reserves-- 18,963 +126 - 41 Required reserves (estimated) 18,540 + 97 Excess reserves (estimated) 423 + 72 -138 * Less than $500,000. 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 22,710 Treasury cash holdings 800 Treasury currency outstanding 5,136 Member bank) - Required (est.) 18,481 Money in circulation 31,161 reserves ) - Excess (est.) 233 On November 6, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,780 million, an increase of $32 million for the week and an increase of $50 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 # CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov, Oct. 1957 1957 1956 A 8 S I T a Gold certificate account 21,177,392 + 31,002 + 800,001 Redemption fund for P. R. notes 844,430 - 1,907 - 8,778 Total gold certificate reserves 22,0217822 + 29,095 + 791,223 F. R. notes of other Banks 374,617 - 37,398 + 91,590 Other cash 361,610 - 16,878 + 23,390 Discounts and advances 688,725 - 98,365 - 398,477 Industrial loans 587 + 17 - 286 Acceptances: Bought outright 16,395 + 501 - 3,155 Held under repurchase agreement — — - 6,213 U. S. Government securities: Bought outright-- Bills 596,973 158,500 - 313,247 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,332,335 + 158,500 - 466,247 Held under repurchase agreement 237,400 +_ 176,100 + 178,800 Total U. S. Government securities 23,569,735 + 334,600 - 287,447 Total loans and securities 24,275,442 + 236,753 - 695,578 Due from foreign banks 12 10 Uncollected cash items 4,590,583 - 187,259 + 231,117 Bank premises 82,879 + 178 + 11,065 Other assets 221,504 + 16,901 - 119,593 TOTAL ASSETS 51,928,469 + 41,392 + 333,204 L I A B I L I T I ES Federal Reserve notes 26,894,018 + 110,954 + 187,441 Deposits: Member bank reserves 18,714,298 51,495 - 156,375 U. S. Treasurer--general account 417,753 40,237 + 17,555 38,386 Foreign 352,786 + 62,938 Other 250,274 19,681 - 36,242 Total deposits 19,735,111 110,437 - 112,124 Deferred availability cash items 3,939,289 + 24,587 + 157,199 Other liabilities and accrued dividends & f 230 2,518 + 334 TOTAL LIABILITIES 50,590,6GB 27,622 + 232,850 C A P I T AL A C C O U N TS Capital paid in 341,236 322 + 20,612 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 221,449 +_ 13,448 +_ 25,761 51.928,469 TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 41.392 + 333,204 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 47.2# + 1.6# Contingent liability on acceptances purchased 65,623 for foreign correspondents 3,879 + 13,169 Industrial loan commitments 1,134 22 - 1.095 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 6, 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 680,110 76 5,215 399,150 16 days to 90 days 8,615 280 11,180 8,292,788 91 days to 1 year 87 12,088,540 Over 1 year to 5 years 144 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Digitized for FRTAoStEaRl WSPf25 157395 23,569,735 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDIT]C ON OF EACH FEDERAL RESERVE BANK ON NOVEMBER 6, 1957 Phila- Total Boston New York delphia li I St. Minne- Kansas San Atlanta |Chicago Dallas Louis apolis City Francisco of dollars) A S S E TS Gold certificate account 21,177,392 1068,137 5,693,898 1182,351 1929,415 1404,554 789,764 3761,176 862,548 353,984 780,792 771,235 2579,538 Redemption fund for P. R. notes 844,430 54,678 175,392 57,879 75,628 76,975 47,419 148,199 41,678 22,271 41,835 26,755 75,721 Total gold certificate 5,869,290 837,183 822,627 reserves 22,021,822 1122,815 1240,230 2005,043 1481,529 3909,375 904,226 376,255 797,990 2655,259 61,263 28,176 F.R. notes of other Banks 374,617 37,777 75,980 42,001 25,578 26,620 26,231 7,626 15,887 7,280 20,198 26,788 23,564 Other cash 361,610 22,517 76,518 21,963 27,491 59,389 18,376 10,520 11,342 14,628 48,514 104,885 28,767 68,068 236,243 18,891 Discounts and advances 688,725 15,752 40,477 11,435 12,356 109,550 15,323 26,978 260 26 Industrial loans 587 301 Acceptances- Bought outright 16,395 16,395 U. S» Govt, securities: "—Bought outright- Bills 596,973 32,562 149,292 34,846 52,437 38,143 30,921 104,202 24,688 12,883 25,630 23,395 67,974 Certificates 19,933,612 1087,299 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 824,355 430,167 855,009 781,178 2269,720 JJotes 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 23,332,335 1272,685 5,834,974 1361,978 2049,466 1490,773 1208,545 4072,682 964,909 503,512 1001,727 914,371 2656,713 Held under repurchase agreement 237,400 237,400 — — — — Total U. S. Govt. sees. 23,569,735 1272,685 6,072,374 1361,978 2049,466 1490,773 1208,545 4072,682 964,909 503,512 1001,727 914,371 2656,713 - 1288,738 2683,691 Total loans & securities 24,275,442 6,129,246 1373,673 2154,351 1519,540 1276,613 4308,925 983,800 515,894 1111,277 929,694 Due from foreign banks 12 1 1/3 1 1 11 2 2/ , 2/ §/ 1 1 Uncollected cash items 4,590,583 368,754 793,567 293,416 422,423 376,810 370,718 752,194 207,124 134,399 222,622 204,783 443,173 Tank premises 82,879 5,050 10,626 4,558 9,560 7,092 6,199 6,749 5,846 5,087 4,916 6,187 11,009 •Other assets 221,504 11,958 53,775 12,422 19,560 13,825 11,412 40,150 8,866 4,677 9,216 9,221 26,422 TOTAL ASSETS 51,928,469 2857,610 13,009,005 2988,264 4663,304 3448,981 2590,880 9103,015 2136,164 1063,019 2189,280 1982,702 5896,245 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 A

5.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 6 ,1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York IRichmond Atlanta Chicago Dallas delphia land . Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES 1681,781 Federal Reserve notes 26,894,018 1587,273 6,327,477 2558,321 2165,546 1256,804 5231,242 1200,095 458,657 1060,623 718,253 2647,946 Deposits: Member hank reserves 18,714,298 842,992 5,218,758 847,946 1569,991 814,153 911,516 2979,899 684,815 421,433 860,598 960,209 2601,988 18,389 U.S.Treas.-gen.acct. 417,753 27,910 76,756 26,143 35,729 38,041 25,397 42,232 27,371 23,590 37,703 38,492 19,720 1/108,326 23,800 30,600 8,160 12,920 17,680 38,080 Foreign 352,786 17,340 15,300 48,280 12,580 2.781 1.980 1.008 1.669 Other 250.274 365 ~ 192.402 9.619 971 954 844 2,550 35,131 890,987 Total deposits 19,735,111 5,556,242 907,508 1637,291 872,315 954,193 3071,419 717,453 457,918 897,952 1016,142 2713,691 Deferred availability cash items 3,939,289 300,663 709,316 305,149 345,666 339,132 316,639 603,855 166,189 112,375 176,728 178,127 385,450 Other liabilities and accrued dividends 22.230 968 6.810 1.083 2.850 1.075 925 3.373 739 6ll 779 899 2,118 12,639,845 2895,521 4544,128 3378,068 2528,561 8909,889 2084,476 2136,082 1915,421 5749,205 TOTAL LIABILITIES 50,590,648 2779,891 1029,561 CAPITAL ACCOUNTS 16,316 46,059 11,481 13,658 Capital paid in 341,236 17,254 101,424 21,194 32,184 15,504 7,360 18,913 39,889 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 22.598 Other capital accounts 221.449 13.506 52.415 14.759 19.593 14.466 12.062 35.217 10.355 6.505 10.420 9.553 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.928,469 2857.610 13.009.005 2988.264 4663.304 3448.981 2590.880 9103.015 2136.164 1C63.019 2189.280 1982.702 5896.245 Conting. liab. on acceptances purchased for foreign correspondents 65,623 3,840 2/ 18,026 4,634 5,958 3,376 2,979 9,400 2,449 1,589 2,516 3,442 7,4l4 Industrial loan commit. 1,134 — ~ — 19 108 67 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,813,923 1655,31b 6,541,304 1755,536 2626,446 2215,512 1305,502 5338,409 1247,672 515,489 1082,818 761,736 2768,183 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 138,933 —- 10,980 —— -• —— —— 18,650 —- 109,303 — -— 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.l6l.933 1730.000 6.770.000 1850.980 2680.000 2295.000 1400.000 5500.000 1343.650 555.000 1229.303 808.000 3000.000 l/ After deducting $244,460,000 participations of other Federal Reserve Banks. 2/ After deducting $47,597,000 participations of other Federal Reserve Banks.. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis