H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM November 21, 195? 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 20 increased $76 million to $18,987 million. Estimated required reserves increased $74 million; and estimated excess reserves increased $2 million to $528 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $219 million, compared with $377 million the week before. The principal changes supplying average reserves were increases of $433 million in Federal Reserve float and $26 million in gold stock. The principal offsetting changes were decreases of $210 million in Federal Reserve holdings of U. S. Government securities and $156 million in member bank borrowings, and an increase of $49 million in money in circulation. Total Reserve Bank credit increased $65 million. As of Wednesday, November 20, holdings of U. S. Government securities bought outright were $98 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $73 million lower, and member bank borrowings were $6l0 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 20, 195? Nov, .13, 1957 I Nov. 21, 1956 (In millions of dollars) Reserve Bank credit; U. S, Government securities— Bought outright—System account 23,282 - 50 -677 Held under repurchase agreement 6 -160 - 68 Acceptances— Bought outright 18 -- - 2 Held under repurchase agreement -- -- - 7 Loans, discounts, and advances- Member bank borrowings 747 -156 + 8' r? Other 6 - 2 + j Float 1,430 +433 -113 Total Reserve Bank credit 25,489 + 65 -777 Gold stock 22,757 + 26 +847 Treasury currency outstanding 5,137 +1 +82 5373^3 + 92 +152 Money in circulation 31,336 +49 +67 Treasury cash holdings 801 +6 + 30 Treasury deposits with F, R. Banks 503 - 2 + 62 Foreign deposits with F. R, Banks 315 - 14 +12 Other deposits with F» R* Banks 386 - 21 +94 Other F, R. accounts (net) 1,054 - 3 +210 34,396 +16 Member bank reserves- 18,987 + 76 -324 Required reserves (estimated) 18,459 + 74 -242 Excess reserves (estimated) 528 +2 - 82 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 22,761 Treasury cash holdings 8o4 Treasury currency outstanding 5,138 Member bank) - Required (est.) l8,46l Money in circulation 31,315 reserves ) - Excess (est.) 672 On November 20, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,792 million, a decrease of $31 million for the week and an increase of $22b 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 OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 20, Nov, 13, Nov, 21, 1957 1957 1956 A S S E TS Gold certificate account 21,229,393 + 28,002 + 860,001 Redemption fund for F. R, notes 843,329 f* 1,879 17,880 Total gold certificate reserves 22,0757722 + 26,123 + 842,121" F. R. notes of other Banks 366,409 + 6,332 + 108,552 Other cash 352,288 + 7,393 + 26,503 Discounts and advances 1,054,201 + 6o4,056 + 1*58,793 Industrial loans 51*0 60 267 Acceptances: Bought outright 17,573 3 3,511 Held under repurchase agreement mrnm — 3,857 U. S. Government securities: Bought outright— Bills 1*99,1*73 97,500 680,247 Certificates 19,933,612 +9,000,513 Notes — -9,153,913 Bonds 2,801,750 Total bought outright 23,234, t$S 97,500 Held under repurchase agreement — - 72,900 75,000 Total U, S. Government securities 23,234,835 - 170,400 - 908,247 Total loans and securities 24,307,119 + k33,593 1*57,089 Due from foreign banks 12 — - 10 Uncollected cash items 5,871,641 + 688,77k + 124,052 Bank premises 83,151 + 210 + 10,221 Other assets 249,899 + lli,565 * 114,786 TOTAL ASSETS 53,303,274 +1,176,990 4- 539,564 L I A B I L I T I ES Federal Reserve noties ~~ 27,010,385 - 3,836 + 12,553 Deposits; Member bank reserves 19,133,240 + 769,689 mm 156,781 U. S, Treasurer—general account 51*1,012 + 58,773 + 11*9,233 Foreign 304,178 - 19,270 + 4,020 Other 392,043 55,1*21* •f1 12,991 Total deposits 20,370,473 + 864,616 + 109,463 Deferred availability cash items 1*,535,531* + 302,989 + 310,627 Other liabilities and accrued dividends 21,390 - 112 1,606 TOTAL LIABILITIES 51,937,782 +1,163,657 + 431,037 C A P I T AL A C C O U N TS Capital paid in 311,595 + 148 + 20,553 Surplus (Section 7) 717,593 + 53,981 Surplus (Section 13b) 27,51*3 Other capital accounts 13,185 33,993 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 1+6.6$ M + 1,1% Contingent liability on acceptances purchased for foreign correspondents 61,481 1,12k + 9,139 Industrial loan commitments . 1,171 50 - 1,001 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, *#*. 20, 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 1,042,892 242 375F8 0,059,78B 16 days to 90 days 11,309 69 11,885 5,791,750 91 days to 1 year 87 6,594,040 Over 1 year to 5 years 142 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Digitized for FRASER http://fraser.stlouTisofetda.olrg / 1,054,201 F%0 177^3 23,234,83* Federal Reserve Bank of St. Louis

H. 4. !{.*>) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 20, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (la thousands of dollars) A S S E TS Gold certificate account 21,229,393 979,228 5,827,645 1168,331 1908,668 1348,167 768,928 3772,063 875,053 348,425 792,345 770,651 2669,889 Redemption fund for F. R. notes 843,329 56,456 174,427 57,553 76,277 75,785 47,265 147,820 41,577 22,244 41,755 26,644 75,526 Total gold certificate reserves 22,072,722 1035,684 6,002,072 1225,884 1984,9451 423,952 816,193 3919,883 916,630 370,669 834,100 797,295 2745,415 F.R^ notes of other Banks 366,409 32,397 78,069 39,321 18,887 27,784 61,355 24,741 9,444 16,422 8,220 16,546 33,223 Other cash 352,288 21,290 70,063 21,273 24,946 23,880 26,446 60,328 20,433 9,919 12,111 12,626 48,973 Discounts and advances 1,054,201 54,644 188,946 22,315 116,395 53,456 73,278 301,251 33,004 25,612 109,229 49,605 26,466 Industrial loans 540 293 222 25 Acceptances— Bought outright 17,573 17,573 U. S. Govt, securities: Bought outright- Bills 499,473 27,244 124,909 29,155 43,872 31,913 25,871 87,184 20,656 10,779 21,444 19,574 56,872 »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 23,234,835 1267,367 5,010,591 1356,207 2040,901 1494,543 1203,495 4055,664 960,077 501,400 997,541 910,550 2645,611 Held under repurchase agreement Total U. S. Govt, sees. 23,234,835 1267,367 5,810,591 1356,287 2040,901 1484,543 1203,495 4055,664 960,877 501,408 997,541 910,550 2645,611 Total loans & securities 24,307,149 1322,304 6,017,110 1378,824 2157,296 1537,999 1276,773 4356,915 993,881 527,045 1106,770 960,155 2672,077 Due from foreign banks 12 1 1/3 1 11 1 2 2/ 2 / 2/ 11 Uncollected cash items 5,871,644 510,270 1,084JB82 377,536 559,335 437,973 453,203 942,640 231,438 151,943 281,932 264,135 576,357 Bank premises 83,151 5,050 10,626 4,558 9,567 7,060 6,311 6,749 6,032 5,087 4,916 6,243 10,952 Other assets 249,899 13,628 61,578 14,219 21,929 15,722 13,003 45,217 10,108 5,346 10,503 10,578 28,068 TOTAL ASSETS 53,303,274 2940,624 13,324,403 3061,616 4776,906 3474,371 2653,285 9356,475 2187,966 1086,431 2258,552 2067,579 6115,066 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 1

Total Boat*, He. Yor* | " 2' l ^ nd Atla= | M= ^ ^ to C ag0 (In thousands of dollars) LLL III AAA BBB III LLL III TTT III EEESSS FFFeeedddeeerrraaalll RRReeessseeerrrvvveee nnnooottteeeeee 27,010,385 1605,502 6,363,506 1696,706 2572,065 2169,245 1258,101 5261,056 1203,426 462,826 1060,216 721,734 2636,002 DDDeeepppooosssiiitttsss::: MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss 19,133,240 819,245 5,379,545 889,400 1569,867 810,389 905,627 3063,543 707,337 438,943 857,355 990,395 2701,594 UUU...SSS...TTTrrreeeaaasss...---gggeeennn...aaaccccccttt... 541,012 43,876 74,897 46,952 51,979 43,409 22,942 60,955 27,942 19,425 48,995 38,850 60,790 FFFooorrreeeiiigggnnn 304,178 17,342 1/89,197 20,930 26,910 15,249 13,455 42,458 11,063 7,176 11,362 15,548 33,488 OOOttthhheeerrr 392.043 343 326,893 10,151 926 2,610 2.132 984 3.459 692 1.569 2.183 40.101 TTToootttaaalll dddeeepppooosssiiitttsss 20,370,473 880,806 5,870,532 967,433 1649,682 671,657 944,156 3167,940 749,801 466,236 919,261 1046,976 2835,973 DDDeeefffeeerrrrrreeeddd aaavvvaaaiiilllaaabbbiiillliiitttyyy cccaaassshhh iiittteeemmmsss 4,535,534 374,265 708,415 302,058 430,929 359,857 386,089 726,064 181,284 122,761 223,824 229,387 490,601 OOOttthhheeerrr llliiiaaabbbiiillliiitttiiieeesss aaannnddd aaaccccccrrruuueeeddd dddiiivvviiidddeeennndddsss 21,390 946 5,927 1,114 2,553 1,072 998 3,290 668 595 816 1,085 2,326 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 51,937,782 2861,519 12,948,380 2967,311 4655,229 3401,831 2589,344 9158,350 2135,179 1052,418 2204,137 1999,182 5964,902 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 341,595 17,277 101,439 21,195 32,238 15,511 16,412 46,093 11,511 7,384 13,666 18,956 39,913 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 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 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 248,761 14,869 59,263 16,320 22.040 16.086 13.588 40.182 11.424 7.036 11.629 10.626 25.698 TTOOTTAALL LLIIAABBIILLIITTIIEESS AAMMDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 53,303,274 2940,624 13,324,403 306l,6l6 4776,906 3474,371 2653,285 9356.475 2187.966 1086.431 2258,552 2067.579 6115,066 CCoonnttiinngg.. lliiaabb.. oonn aacccceepptt-aanncceess ppuurrcchhaasseedd ffoorr ffoorreeiiggnn ccoorrrreessppoonnddeennttss 61,48l 3,567 2/17,263 4,305 5,535 3,136 2,767 8,733 2,276 1,476 2,337 3,198 6,888 IInndduussttrriiaall llooaann ccoommmmiitt.. -- 1.171 —— — — 56 108 — — — — 67 —— — — 940 —— —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. SS.. nnootteess oouuttssttaannddiinngg 27,997,391 1664,219 6,599,855 1764,221 2638,592 2228,705 1322,090 5377,339 1255,826 514,015 1085,925 766,992 2779,612 CCoollllaatt.. ffoorr FF.. RR„„ nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 163,750 -- •• 21,930 ** —- —— 32,800 —- 109,020 —— — - 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 29,186,750 1730,000 6,770,000 1861,930 2680,000 2295,000 1400,000 5500,000 1357,800 555,000 1229,020 808,000 3000,000 — wv jvcLj. uo.v -i-J/cf cvjuvjua uj. v vuci X' cucx a,x x\t-otj. v^» xkuuao* 2f After deducting $44,218,000 participation© of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis JL