H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF boVAAoRS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM November 14, 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 November 13 decreased $52 million to $18,911 million* Estimated required reserves decreased $14-9 million; and estimated excess reserves increased $97 million to $527 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $376 million, compared with $387 million the week before. The principal changes reducing average reserves were increases of $173 million in money in circulation, $94 million in "other" deposits with Federal Reserve Banks, and $44 million in Treasury deposits with Federal Reserve Banks, The principal offsetting changes were increases of $86 million in member bank borrowings, $57 million in Federal Reserve holdings of U. S, Government securities, $54 million in Federal Reserve float, and $24 million in gold stock, and a decrease of $38 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $199 million. As of Wednesday, November 13, U. S. Government securities held under repurchase agreement were $165 million lower than a week earlier and member bank borrowings were $244 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 13, 1957 Nov. 6, 1957 I Nov. 14, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 23,332 76 -550 Held under repurchase agreement 166 19 +108 Acceptances- Bought outright 18 - 2 Held under repurchase agreement - 8 Loans, discounts, and advances- Member bank borrowings 903 + 86 Other 8 + 1 Float 997 Tilt Total Reserve Bank credit 25,424 Gold stock 22,731 + 24 Treasury currency outstanding 5,136 + 1 53,291 Money in circulation 31,287 +173 Treasury cash holdings 795 + 3 Treasury deposits with F. R. Banks 505 + 44 Foreign deposits with F. R. Banks 329 - 38 Other deposits with F. R. Banks 407 + Other F. R. accounts (net) 1,057 1 34|38o Member bank reserves— 18,911 Required reserves (estimated) 1 %# Excess reserves (estimated) 527 + 97 * 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 22,735 Treasury cash holdings 800 Treasury currency outstanding 5,136 Member bank) - Required (est,) 18,391 Money in circulation 31,33^ reserves ) - Excess (est.) -27 On November 13, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,823 million, an increase of $43 million for the week and an increase of $198 million from the comparable date Digitized for FRASER http://fraase r.ysteloaurisf ead.gorog/. 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 Nov. 13, Nov. 6, Nov. 14, 1957 1957 1956 A S S E TS Gold certificate account 21,201,391 + 23,999 + 825,999 Redemption fund for F.R. notes 845,208 + _778 10,000 Total gold certificate reserves 22,0%, 599 "24,777 + "B157999 F. R. notes of other Banks 360,077 14,540 + 88,650 Other cash 344,895 16,715 + 18,034 Discounts and advances 450,145 238,580 + 75,363 Industrial loans 600 13 209 Acceptances: Bought outright 17,576 1,181 2,508 7,059 Held under repurchase agreement U. S. Government securities: Bought outright— Bills 596,973 - 418,547 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,332,335 - 571,547 Held under repurchase agreement 72,900 - 164,500 + 31,300 Total U. S. Government securities 23,405,235 - 164,500 - 540,247 Total loans and securities 23,873,556 - 401,886 - 474,660 Due from foreign banks 12 10 Uncollected cash items 5,182,870 + 592,287 - 245,586 Bank premises 82,941 + 62 + 10,665 Other assets 235,334 + .13/830 - 117,463 TOTAL ASSETS 52,126,284 + 197,815 + 95,629 L I A B I L I T I ES Federal Reserve notes 27,014,221 + 120,203 + 179,499 Deposits: Member bank reserves 18,363,551 - 350,747 151,726 U. S. Treasurer—general account 482,239 + 64,486 66,963 Foreign 323,448 - 29,338 18,106 Other 336,619 + 86,345 31,96 Total deposits 197505,857 - 229,254 70,90 Deferred availability cash items 4,232,545 + 293,256 117,615 Other liabilities and accrued dividends 21,502 728 147 TOTAL LIABILITIES 50,774,125 + 183,477 9,167 C A P I T AL A C C O U N TS Capital paid in 341,447 211 + 20,617 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 235,576 + 14,127 + 30,198 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,126,284 + 197,815 + 95,629 Ratio of gold certificate reserves to deposit .2$ and F. R. note liabilities combined 47.4# 1.7$ Contingent liability on acceptances purchased for foreign correspondents 62,605 3^16 10,731 Industrial loan commitments 1.121 I M- MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 13, 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 432*7502 69 5,758 215,600 11,818 8,310,838 16 days to 90 days 17,543 293 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 Digitized Ofovr eFRrA S1E0R years 1,358,247 http://fraser.stlou T is o fe t d a .o l rg / 500 17,576 23,"505^235 Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH NOVEMBER 13. 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In •housands of dollars) A S S E TS Gold certificate account 21,201,391 1070,154 5,696,092 1167,554 1914,200 1357,064 798,743 3840,353 878,011 368,266 796,741 735,165 2579,048 Redemption fund for F. R. notes 845.208 54.663 175.360 57.872 76.619 76.948 47.404 148.177 41.667 22.266 41.826 26.705 75.701 Total gold certificate reserves 22,046,599 1124,817 5,871,452 1225,426 1990,819 1434,012 846,147 3988,530 919,678 390,532 838,567 761,870 2654,749 F.R. notes of other Banks 360,077 31,796 77,337 41,650 18,523 24,551 60,987 26,052 8,031 15,725 8,249 18,987 28,189 Other cash 344,895 21,006 67,890 19,443 26,506 24,695 25,441 59,914 18,421 9,780 11,354 13,234 47,211 "Discounts and advances 450,145 39,134 24,451 6,050 69,920 20,307 47,618 111,778 14,466 12,501 81,519 11,173 11,228 Industrial loans 600 301 273 26 Acceptances— Bought outright 17,576 17,576 -32* S. Govt, securities: Bought outright— BBBiiillllllsss 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 CCCeeerrrtttiiifffiiicccaaattteeesss 19,933,612 1087,299 4,985,018 1163,5851 750,929 1273,618 1032,502 3479,432 824,355 430,167 855,809 781,178 2269,720 NNNooottteeesss BBBooonnndddsss 2.801.750 152.824 700.664 163.547 246.100 179.012 145.122 489.048 lis.866 60.462 120.288 109.798 319.019 TTToootttaaalll 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 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennnttt 72,900 — 72.900 TTToootttaaalll UUU... SSS... GGGooovvvttt... ssseeeeeesss... 23,405,235 1272.685 5.907.874 1361.978 2049.466 1490.773 1208.545 4072.682 964,909 503.512 1001.727 914,371 2656,713 Total loans & securities 2233,,887733,,555566 1312,120 5,949,901 1368,301 2119,386 1511,080 1256,163 4184,460 979,375 516,039 1083,246 925,544 2667,941 Due from foreign banks 1122 1 y 3 1 1 1 1 2 2/ 2/ 11 Uncollected cash items 55,,118822,,887700 366,881 990,272 382,039 446,118 424,578 384,442 901,742 227,544 134J,s8 83 248,566 219,505 456,200 Bank premises 8822,,994411 5,050 10,626 4,558 9,560 7,084 6,199 6,749 5,862 5,087 4,916 6,241 11,009 Other assets 223355,,333344 12.841 57.512 13.320 20.910 14,849 12,136 43,004 9,490 4.997 9.917 9,892 26,466 TOTAL ASSETS 52,126,284 2874,512 13,024,993 3054,738 4631,823 3440,850 2591,516 9210,453 2168,401 1077,043 2204,915 1955,274 5891,766 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 t _

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE"EAMK ON' NOVEMBER 13 ,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 27,014,221 1604,232 6,346,511 1693,743 2566,866 2175,672 1262,122 5253,666 1205,525 460,844 1065,282 722,111 2657,647 Deposits: Member bank reserves 18,363,551 791,514 5,114,300 874,292 1511,149 811,716 896,636 2941,449 674,286 443,321 827,505 925,928 2551,455 LLS.Treas.-gen.acct. 482,239 28,025 81,804 27,891 33,174 31,460 35,466 56,749 22,088 28,449 34,333 41,718 61^082 Foreign 323,448 18,444 1/ 94,806 22,260 28,620 16,218 14,310 45,156 11,766 7,632 12,084 16,536 35,616 Other 336,619 358 ~ 267,413 9,457 503 2,981 2,144 l,l4l 1,796 241 4.714 2.370 43,501 Total deposits 19,505,857 838,341 5,558,323 933,900 1573,446 862,375 948,556 3044,495 709,936 479,643 878,636 986,552 2691,654 Deferred availability cash items 4,232,545 352,574 741,990 332,493 368,105 329,841 316,557 713,448 199,900 102,150 206,306 177,750 391,431 Other liabilities and accrued dividends 21,502 943 5,513 l,06l 2,896 1,242 1,022 3,137 745 657 872 1,049 2,365 TOTAL LIABILITIES 50,774,125 2796,090 12,652,337 2961,197 4511,313 3369,130 2528,257 9014,746 2116,106 1043,294 2151,096 1887,462 5743,097 CAPITAL ACCOUNTS Capital paid in 341,447 17,269 101,424 21,194 32,231 15,505 16,379 46,076 11,5U 7,361 13,661 18,946 39,890 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,l4o Other capital accounts 235,576 14,194 55,911 15,1557 20.880 15.272 12.939 37.781 10.932 6.795 11.038 10.051 24.226 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,126,284 2874,512 13,024,993 3054,738 4631,823 3440,850 2591,516 9210,453 2168,401 1077.043 2204.915 1955,274 5891.766 Contiag. liab. on acceptances purchased for foreign correspondents 62,605 3,631 2/ 17,596 4,382 5,634 3,193 2,817 8,889 2,316 1,502 2,379 3,255 7,011 ' 940 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,923,224 1657,862 6,578,788 1764,883 2636,155 2213,847 1316,889 5357,192 1248,049 514,658 1090,307 764,597 2779,997 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,026,000 580,000 3,170,000 640,000 1130,000 945,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 101,092 — — 5,595 -- -- -- -- 14,225 — 81,272 — 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 29,124,092 1730,000 6,770,000 1845,595 2680,000 2295,000 1400,000 5500,000 1339,225 555,000 1201,272 808,000 3000,000 — — 2/ After deducting $45,009,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis