H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release H»4.1 OF THE FEDERAL RESERVE SYSTEM November 29, 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 27 decreased $80 million to $18,907 million. Estimated required reserves increased $6 million; and estimated excess reserves decreased $86 million to $442 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $330 million, compared with $219 million the week before. The principal changes reducing average reserves were a decrease of $221 million in Federal Reserve float and an increase of $95 million in money in circulation. The principal offsetting changes were increases of $30 million in Federal Reserve holdings of U, S. Government securities and $25 million in member bank borrowings, and decreases of $92 million in "other" deposits with Federal Reserve Banks, $34 million in Treasury deposits with Federal Reserve Banks, and $24 million in "other" F. R. accounts (net). Total Reserve Bank credit decreased $164 million. As of Wednesday, November 27, holdings of U. S. Government securities bought outright were $117 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $224 million higher, and member bank borrowings were $447 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 27, 1957 Nov. 20, 1957 I Nov. 28, 1956 (In millions of dollars) Reserve Bank credit: U, S. Government securities-- Bought outright--System account 23,167 -115 - 943 Held under repurchase agreement 151 +145 59 Acceptances— Bought outright 19 + 1 2 Held under repurchase agreement 1 + 1 - 4 Loans, discounts, and advances— Member bank borrowings 772 + 25 + 143 Other 6 *• — + 3 Float 1,209 -221 - 305 Total Reserve Bank credit 25,325 -164 -1.049 Gold stock 22,762 + 5 + 852 Treasury currency outstanding 5,139 + 2 + 83 53,226 -157 - 114 Money in circulation 31,431 + 95 + 76 Treasury cash holdings 794 - 7 + 22 Treasury deposits with F. R. Banks 469 - 34 + 33 Foreign deposits with F. R. Banks 301 - 14 - 6 Other deposits with F. R. Banks 294 - 92 + 42 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,030 - 24 + 187 34,318 - 78 + 353 Member bank reserves— 18,907 - 80 468 Required reserves (estimated) 18,465 289 - Excess reserves (estimated) 442 - 86 - 179 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 22,762 Treasury cash holdings 784 Treasury currency outstanding 5,l4l Member bank) - Required (est.) 18,496 Money in circulation 31,628 reserves ) - Excess (est.) 243 On November 27, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,800 million, an increase of $8 million for the week and an increase of $250 million from the comparable date a Digitized for FRASER http://frayseera.sttlo uaisgfeod..o rg/ 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. 27, Nov. 20, Nov. 28, 1957 1957 1956 A S S E TS Gold certificate account 21,209,391 20,002 + 841,997 Redemption fund for F. R. notes 863,149 19,820 +, 3,129 Total gold certificate reserves 22,07275^0 " 182 + 845,126 F. R. notes of other Banks 311,472 54,937 + 15,963 Other cash 347,808 4,480 + 21,472 Discounts and advances 607,211 446,990 + 248,368 Industrial loans 549 9 250 Acceptances: Bought outright 20,070 2,497 1,712 Held under repurchase agreement 5,176 U. S. Government securities: Bought outright— Bills 616,673 + 117,200 - 715,047 Certificates 19,933,612 +9,000,913 Notes -9,153,913 Bonds 2,801,750 Total bought outright 23,352,035 + 117,200 - 868,047 Held under repurchase agreement 224,200 +_ 224,200 + 160,200 Total U. S. Government securities 23,5751235 + 341,400 - 707,847 Total loans and securities 24,204,065 - 103,084 - 466,617 Due from foreign banks 12 10 Uncollected cash items 4,914,896 - 956,748 - 106,322 Bank premises 83,408 + 257 + 10,428 Other assets 265.569 + 15,670 - 110,579 TOTAL ASSETS 52,199,770 -1,103.504 + 209,461 L I A B I L I T I ES Federal Reserve notes 27,241,027 + 230,642 + 236,336 Deposits: Member bank reserves 18,739,425 - 393,815 - 194,201 U. S. Treasurer—general account 429,573 - 111,439 - 49,736 Foreign 283,456 - 20,722 - 89,811 Other 177,882 - 214,161 + 10,728 Total deposits 19^30,336 - 740,137 - 323,020 Deferred availability cash items 3,979,683 - 555,851 + 238,938 Other liabilities and accrued dividends 22,898 + 1.508 : i^Sig TOTAL LIABILITIES 50,873,944 -1,063^838 + 150,338 C A P I T AL A C C O U N TS Capital paid in 341,660 65 + 20,481 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 209,030 - 39,731 - 15,339 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,199,770 -1,103,504 + 209,461 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.1$ + U9f> Contingent liability on acceptances purchased for foreign correspondents 66,619 5,138 + 14,506 Industrial loan commitments 1.162 1.016 2_ MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 27. 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 589,834 250 3,798 8,173,788 16 days to 90 days 17,377 62 16,272 6,019,150 91 days to 1 year 87 6,594,040 Over 1 year to 5 years 150 680,635 Over 5 years to 10 years 750,375 Over 10 years Digitized for FRASER — 1,358,247 http://fraser.stloTuoistfead.lor g/ 607,211 5%9 20,070 23,5fC235 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 27, 1957 Phila- Cleve- St. Minne- Kansas San Total Beaton New York Richmond Atlanta Chicago Dallas delphia, land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,209,391 1033,890 5,554,283 1203,335 1988,394 1377,977 805,519 3913,532 871,416 366,953 733,855 771,041 2589,196 Redemption fund for F. R. notes 863,149 56,451 184,386 59,550 77,272 75,768 49,254 152.778 41.571 22.239 41.748 26.637 75.495 -Total gold certificate reserves 22,072,540 1090,341 5,738,669 1262,885 2065,666 1453,745 854,773 4066,310 912,987 389,192 775,603 797,678 2664,691 F.R. notes of other Banks 311,472 26,396 65,365 24,923 14,210 28,045 57,808 22,187 8,080 13,669 8,091 15,661 27,037 Other cash 347,808 20,114 67,835 21,511 24,916 26,196 27,807 56,657 21,854 9,324 11,665 14,552 45,377 Discounts and advances 607,211 43,806 52,796 24,825 30,695 54,806 87,060 78,676 31,254 13,872 153,268 35,012 1,141 Industrial loans 549 293 231 25 Acceptances— Bought outright 20,070 20,070 41. S. Govt, securities: fought outright— Bills 616,673 33,637 154,218 35,996 54,167 39,402 31,941 107,641 25,503 13,308 26,476 24,167 70,217 Certificates 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 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 31Q.01Q Total 23,352,035 1273,760 5,839,900 1363,128 2051,196 1492,032 1209,565 4076,121 965,724 503,937 1002,573 915,143 2658,956 Held under repurchase agreement 224.200 224,200 — — ** — — ^ Total U. S. Govt, sees. 23,576,235 1273,760 6,064,100 1363,128 2051,196 1492,032 1209.565 4076.121 965.724 503.937 1002.573 915.143 2658.956 Total loans & securities 24,204,065 1317,859 6,136,966 1388,184 2081,891 1546,838 1296,62 54154,797 996,978 517,834 1155,84 1950,155 2660,097 Due from foreign banks 12 1 1/3 1 1 1 12 2 / 2 / 2/ 11 Uncollected cash items 4,914,896 351,136 928,106 294,056 438,192 398,015 373,898 812,939 198,164 138,555 242,113 248,142 491,280 Bank premises 83,408 5,015 10,675 4,536 9,646 7,041 6,298 6,742 6,009 5,289 4,916 6,243 10,998 Other assets 265.569 14.439 65,656 15.068 23.377 16.887 13.739 47.985 10.698 5.660 11.179 11.103 29.778 TOTAL ASSETS 52,199,770 2825,301 13,013,275 3011,164 4657,899 3476,768 2630,949 9167,619 2154,770 1079,823 2209,408 2043,535 5929,259 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

H. 4,1(c) STATEMENT Of CONDITION OF EACH FEDERAL RESERVE BANK PIT' NOVEMBER 27 ,1957 Total Boston New York 2 % Ia M d' Richmond Atlanta Chicago ^ ™ Ks Dallas (In thousands of dollars) LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,241,027 1621,979 6,424,124 1717,057 2586,666 2186,98 41271,874 5295,994 1211,12 1469,321 1066,639 726,092 2663,176 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,739,425 777,490 5,306,204 898,222 1507,344 834,338 923,464 2932,231 700,890 429,191 841,278 994,944 2593,829 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn.....aaaaaccccccccccttttt..... 429,573 30,358 72,475 28,983 30,038 37,974 34,945 54,926 19,835 23,574 39,292 33,150 24,023 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 283,456 16,182 1/ 82,855 19,530 25,110 14,229 12,555 39,618 10,323 6,696 10,602 14,508 31,248 -----OOOOOttttthhhhheeeeerrrrr 177.882 517 121,307 9.512 1.350 2.077 2.039 1.446 3.332 302 921 1.327 ^.750 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,630,336 824,547 5,582,841 956,247 1563,842 888,618 973,003 3028,221 734,380 459,763 892,095 1043,929 2682,850 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,979,683 300,700 634,370 244,755 386,465 329,826 322,994 649,425 157,155 116,883 196,913 205,377 434,820 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 22,898 947 6,304 1,116 2,692 1,222 1,125 3,191 804 665 933 1,171 2.728 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,873,944 2748,173 12,647,639 2919,175 4539,665 3406,650 2568,996 8976,831 2103,46 01046,632 2156,580 1976,569 5783,574 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS •••••CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 341,660 17,277 101,449 21,195 32,251 15,514 16,427 46,099 11,514 7,391 13,674 18,956 39,913 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,l4o OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 209,030 12,892 48,866 14,004 18,584 13,661 11,585 32,839 9,944 6,207 10,034 9,195 21.219 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,199,770 2825,301 13,013,275 3011,164 4657,899 3476,76 82630,949 9167,619 2154,77 01079,823 2209,408 2043,535 5929,259 CCCCCooooonnnnntttttiiiiinnnnnggggg,,,,, llllliiiiiaaaaabbbbb,,,,, ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 66,619 3,863 2/ 18,734 4,662 5,994 3,397 2,997 9,457 2,464 1,598 2,531 3,463 7,459 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1,162 - - — 47 108 -- -- 67 -- -- 940 -- FEDERAL RESERVE AGENTS* ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,127,448 1676,439 6,625,490 1783,656 2655,159 2226,806 1332,244 5399,6 115251,230 518,039 1094,219 770,440 2794,111 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 207,939 24,440 -- — -- -- 31,050 -- 152,449 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 29,230,939 1730,000 6,770,000 1864,440 2680,000 2295,000 1400,000 5500,000 1356.050 555.000 1272.449 808,000 3000.000 1/ After deducting $200,601,000 participations of other Federal Reserve Banks. 2/ After deducting $47,885,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1