H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.I OF TEE FEDERAL RESERVE SYSTEM December 5, 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 December 4 increased $ll6 million to $19,023 million, Estimated required reserves increased $118 million; and estimated excess reserves decreased $2 million to $487 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $1)1 million, compared with $283 million the week before. The principal changes supplying average reserves were increases of $313 million in U. S. Government securities bought outright and $101 million held under repurchase agreement, and decreases of $l64 million in Treasury deposits with Federal Reserve Banks and $103 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $204 million in Federal Reserve float and $154 million in member bank borrowings, and an increase of $235 million in money in circulation. Total Reserve Bank credit increased $62 million. As of Wednesday, December 4, holdings of U. S. Government securities bought outright were $203 million higher than a week earlier, U. S. Government securities held under repurchase agreement were less than a million lower, and member bank borrowings were $110 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 4, 1957 Nov. 27, 1957 I Dec. 5, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,480 +313 -807 Held under repurchase agreement 252 +101 +135 Acceptances-- Bought outright 21 - 3 Held under repurchase agreement 1 - 8 Loans, discounts, and advances-- Member bank borrowings 618 -154 +160 Other 9 + 3 + 6 Float 1,005 -204 -263 Total Reserve Bank credit 25,387 + 62 ^775 Gold stock 22,763 + 1 +810 Treasury currency outstanding 5,141 + 2 + 81 53,290 + 64 +112 Money in circulation 31,666^ +235 +215 Treasury cash holdings 773"' - 21 + 3 Treasury deposits with F. R. Banks 305 -164 -103 Foreign deposits with F. R. Banks 291 - 10 - 53 Other deposits with F. R. Banks 191 -103 - 37 Other F. R. accounts (net) 1,041 + 11 +131 34,267 - 51 +157 Member bank reserves- 19,023 +116 - 45 Required reserves (estimated) 18,536 +HB Excess reserves (estimated) 487 - 2 +101 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: Sold stock 22,763 Treasury cash holdings 773 Treasury currency outstanding 5,141 Member bank) - Required (est.) 18,628 Money in circulation 31,716 reserves ) - Excess (est.) 279 On December 4, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,805 million, an increase of $5 Digitizemd ifolr lFRiAoSnE Rf or the week and an increase of $267 million from the comparable date a http://frayseear.srtl ouaisgfeod..o rg/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (in thousands of dollars) Change since Dec. 4, Nov. 27, Dec, 5, 1957 1957 1956 A S S E TS Gold certificate account 21,218,392 + 9,001 + 751,001 Redemption fund for F. R. notes 860,240 - 2,909 + 3,365 Total gold certificate reserves 22,078,632 + 6,092 + 754,366 F. R. notes of other Banks ™ 334,069 + 22,597 + 47,983 Other cash 328,800 19,008 + 15,589 - Discounts and advances 497,655 109,556 71,969 - - Industrial loans 522 27 289 - - Acceptances: Bought outright 23,056 + 2,986 - 2,681 BeId under repurchase agreement f ,6l6 + 2,616 7,852 t - U. S. Government securities: Bought outright-- Bills 819,273 + 202,600 „ 656,847 Certificates 19,933,612 +9 ,000,913 Notes -9,153,913 -- Bonds 2,801,750 - — — — Total bought outright 23,554,635 + 202,600 809,847 - Held under repurchase agreement 223,600 600 + 134,400 - Total U. S. Government securities 23,778,235 + 202,000 675,447 - Total loans and securities 24,302,084 + 98,019 - 758,238 Due from foreign banks 12 aa mm - 10 Uncollected cash items 4,856,253 - 58,643 + 90,274 Bank premises 83,358 50 + 10,016 - Other assets 185,664 - 79.905 - 45,409 TOTAL ASSETS 52,168,872 30,898 + 114,571 - L I A B I L I T I ES Federal Reserve notes 27,325,766 + 84,739 + 171,257 Deposits: Member bank reserves 18,907,391^ + 167,972 91,491 U. S. Treasurer--general account 244,361 185,212 93,685 - - Foreign 307,569 + 24,113 - 2,895 Other 182,3@9&3 + 4,507 96,512 - Total deposits 19,641,716 + 11,380 • 284,563 Deferred availability cash items 3,837,323 142,360 + 167,201 - Other liabilities and accrued dividends 24,230 + 1,332 - 2,012 TOTAL LIABILITIES 50,829,035 44,909 + 51,863 - C A P I T AL A C C O U N TS Capital paid in ~ ~ 34l,86o + 200 + 20,286 Surplus (Section 7) 747,593 — — + 53,981 Surplus (Section 13b) 27,543 -- -- Other capital accounts 222,841 + 13,811 11,559 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,168,872 30,898 + 114,571 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.0/o .1# + 1.7/o - Contingent liability on acceptances purchased for foreign correspondents 67,612 993 + 16,364 Industrial loan commitments 1,145 17 1,021 - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 4, 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 484,753 69 7,022 276,360 16 days to 90 days 12,876 61 18,650 6,261,013 91 days to 1 year 26 250 14,451,605 Over 1 year to 5 years 142 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Digitized forT FoRtAaSElR 497,655 522 25,672 23,778,235 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF C0NDIT[]O N OF EACH'FEDERAL RESERVEBANK ON DECEMBER 4. 1957 E.4.1(b) Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - i | Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka Ci n t s y a - s Dallas Fra S nc a i n s co A S S E TS 1056,542 5,688,685 1187,440 1914,357 1345,448 819,911 3903,429 861,154 374,219 741,040 783,035 2543,132 Gold certificate account 21,218,392 Redemption fund for 56.256 183.459 59.229 77.021 74.642 49.087 152.447 41.454 22.213 41,66% 26,568 75 r221 F. R. notes 860.240 Total gold certificate 1112,798 5,872,144 1246,669 1992,278 1420,090 868,998 4055,876 902,608 396,432 782,709 809,603 2618,427 reserves 22,078,632 53,838 25,001 9,606 14,700 5,297 16,150 34,288 F.R. notes of other Banks 334,069 27,597 73,637 28,330 14,987 30,638 Other cash 328,800 18,868 64,719 19,346 22,052 24,577 26,483 53,634 21,286 9,168 11,427 12,353 44,887 Discounts and advances 497,655 30,514 38,201 28,090 32,195 29,046 60,648 120,841 17,404 6,539 102,784 22,402 8,991 Industrial loans 522 293 204 25 Acceptances: Bought outright 23,056 23,056 Held under rep. agree. 2,616 2,616 U. S. Govt, securities: Bought outright— && && & Bills 819,273 * &£ 0 8 :8 u &g i &g « a ^ Certificates 19,933,612 Notes Bonds 2,801,750 , g gM % Total 23,554,635 5 ppi.600 — = — — — — — — - -— Held under rep. agree. 223.600 1284,811 6,114,167 1374,955 2068,992 1504,976 1220,059 4111,485 974,102 508,309 1011,271 923,083 2682,025. Total U. S. Govt, sees. 23.778.235 1315,618 6,178,040 1403,249 2101,187 1534,022 1280,707 4232,326 991,506 514,873 1114,055 945,485 2691,016 Total loans & securities 24,302,084 Due from foreign banks 12 Uncollected cash items 4,856,253 4i;i 3i;i 3%i 2il? 13°& 23t& 2ifi Bank premises 83,358 10:014 45,344 10.483 16.571 11.650 9.623 34,394 7,470 3,946 7,758 7,797 20^6l4_ Other assets 185,664 52,168,872 2862,662 13,169,388 3022,824 4580,510 3406,279 2635,085 9192,998 2153,312 1074,955 2157,798 2021,002 5892,059 TOTAL ASSETS 1/ After deducting $9,000 participations of other Federa lReserve Banks. 2/ Less than $500. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 4, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (IE-thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,325,766 1625,969 6,434,111 1721,900 2604,238 2191,712 1279,833 5304,853 1218,255 473,485 1072,742 731,678 2666,990 Deposits: Member bank reserves 18,907,397V 8 ' 0 8,218 5,476,363 909,552 1460,498 798,191 924,388 2981,870 693,102 433,188* 819,253 1002,949 2599,825 U.S.Treas.-gen.acct. 244,361 22,800 42,459 13,992 20,926 21,261 23,391 40,225 11,216 16,541 17,082 12,994 1,474 Foreign 307,569 16,762 1/ 99,778 20,230 26,010 14,739 13,005 41,038 10,693 6,936 10,982 15,028 32,368 Other 182,3@9|% !3 302 ~ 120,991 13,262 1,481 2,883 1,379 943 1,943 2^ 2*^ > 9 59 1,561 36,439 Total deposits 19,641,71b 848,082 5,739,591 957,036 1500,915 #37,074 962,163 3064,076 716,954 456,911 048,276 1032,532 2670,106 Deferred availability cash items 3,837,323 309,695 619,143 249,812 345,023 305,318 329,295 626,977 165,430 110,295 182,561 188,357 405,417 Other liabilities and accrued dividends 24,230 1,077 7,148 1,231 2,968 1,174 1,073 3,880 757 846 907 936 2,233 TOTAL LIABILITIES 50,829,035 2784,023 12,799,993 2929,979 4461,144 3335,278 2572,364 8999,786 2101,396 1041,537 2104,406 1953,503 5744,746 CAPITAL ACCOUNTS Capital paid in 341,860 17,277 101,517 21,196 32,265 15,523 16,431 46,123 11,544 7,405 13,699 18,963 39,917 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 2,140 Other capital accounts 222,841 13,603 52,557 14,859 19,702 14,535 12.349 35,239 10.520 6,420 10,493 9,721 22,843 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52.168,872 2862.662 13.169.388 3022.824 4580.510 3406.279 2635.085 9192.998 2153,312 1074,955 2157,798 2021,002 58§&Cg2. Conting. liab. on acceptances purchased for foreign correspondents 67,612 6,084 3,448 3,042 9,599 2,501 1,622 2,569 3,515 7,571 Industrial loan commit. 1,145 41 90 -- — OO — — vw FEDERAL RESERVE AGENTS* ACCOUNTS FF--.. RR.. nnootteess oouuttssttaannddiinngg 28,245,563 1674,984 6,675,685 1779,418 2672,296 2238,760 1341,304 5429,984 1258,143 518,882 1093,488 779,044 2783,575 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 7, £$0 A580.000 3,170,000 64o,ooo 1130,000 945,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. 12,028,000 ' !. L 27,705 17,200 - 10*7965 EElliiggiibbllee ppaappeerr 1150.000 3.600.000 1200,000 1600,000 1350,000 1000,000 3100,000 875,000 425,000 820,00(X 525,000 1500,000 __..tttt.. SS.. GGoovvtt ,,sseeccuurriittiieess 17,145,000 1730,000 6,770,000 1067,705 2730,000 2295,000 1400,000 5600,000 1342,200 555,000 122fo96$\ 008,000 3000,000 TToottaall ccoollllaatteerraall 29,3^7ti?e . . . « n.a 1 J* * 3 7A D2igJiti zeAdf fotr eFrR AdSeERd ucting $ 48,604,00Cy participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis