H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM December 12, 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 11 increased $4 million to $19,027 million. Estimated required reserves increased $22 million; and estimated excess reserves decreased $18 million to $469 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $200 million, compared with $131 million the week before. The principal changes supplying average reserves were increases of $154 million in Federal Reserve holdings of U. S. Government securities and $51 million in member bank borrowings. The principal offsetting changes were increases of $161 million in money in circulation, $39 million in "other" F. R. accounts (net), and $27 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $230 million. As of Wednesday, December 11, holdings of U. S. Government securities bought outright were $45 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $49 million higher, and member bank borrowings were $469 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 11, 1957 Dec. 4, 1957 1 Dec. 12, 1956 (In millions of dollars) Reserve Bank credit; U. S. Government securities-- Bought outright--System account 23,574 +94 - 919 Held under repurchase agreement 312 + 60 + 153 Acceptances-- Bought outright 25 +4 - 4 Held under repurchase agreement 9 +8 6 Loans, discounts, and advances-- Member bank borrowings 669 +51 30 Other 8 - 1 2 Float 1,020 + 15 - 206 Total Reserve Bank credit 25,617 +230 -1,016 Gold stock 22,766 + 3 + 842 Treasury currency outstanding 5,142 + 1 + 80 53,526 +236 - 92 Money in circulation 31,827 +161 + 167 Treasury cash holdings 769 - 4 6 Treasury deposits with F. R. Banks 318 +13 - 39 Foreign deposits with F. R. Banks 318 +27 - 24 Other deposits with F. R. Banks 186 - 5 - 78 Other F. R. accounts (net) 1,080 + 39 + 79 34,498 +231 + 99 Member bank reserves-- 19,027 + 4 - 193 Required reserves (estimated) 18,558 +22 - 95 Excess reserves (estimated) 469 - 18 - 98 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 22,770 Treasury cash holdings 770 Treasury currency outstanding 5,142 Member bank) - Required (est.) 18,695 Money in circulation 31,878 reserves ) - Excess (est.) 519 On December 11, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,808 million, an increase of $3 million for the week and-an increase of $171 million from the comparable date a Digitizedy efoar FrR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDER ARLESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 11, Dec. 4, Dec. 12, ASS E T S Gold certificate account Redemption fund for F. R .notes Total gold certificat ereserves F. R, note sof other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement Ut S. Government securities: Bought outright- Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U, S* Government securities Total loans an dsecurities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS L I A B I L I T I ES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES C A P I T AL A C C O U N TS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments ov l/X a- 1957 1956 21,226,392 + 8,000 + 862,000 860,592 + 352 + 2,446 22,086,984 + 8,352 + 'i6k,hh6 345,344 + 11,275 + 60,236 325,069 - 3,731 + 27,965 971,543 + 473,888 + 412,556 498 24 319 - - 25,857 + 2,801 5,907 4,710 + 2,094 10,374 • & 4,273 + 45,000 762,247 19,933,612 +9, 000,913 — -9,153,913 - - 2,801.750 mm 23,599,635 + 45,000 - 915,247 272,800 + 49,200 + 119,100 23,672.435 + 94,200 796,147 • 24,875,043 + 572,959 400,191 .. 12 10 4,677,961 - 178,292 - 387,726 83,452 + 94 + I0,i4l 201,058 + 15,394 42,512 52,594,923 + 426,051 + 132,349 27,493,363 + 167,597 + 163,831 19,213,931 + 306,53V* + 133,091 332,774 + 88,413 + 18,833 330,147 + 22,578 91,997 • 182,036 - 35S2* - 1.123 20,058,888 + 417,172 + 58,804 3,716,869 - 120,454 97,894 24.409 + 179 3,505 51,293,529 + 464,494 + 121,236 342,150 + 290 17,934 747,593 + 53,981 27,543 — 184.108 38,733 m 60,802 52,594,923 + 426,051 + 132,349 46.14 .6# + 1,6# - 68,670 + 1,058 + 17,035 1,124 21 l 037 " - f MATURITY DISTRIBUTION OF LOAN SAMD SECURITIES. DECEMBER 11> 1957 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 1 5days in accordanc ewith maximu mmaturity of th eagreements») Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 959,422 69 10,518 297,800 16 days to 90 days 12,095 20 20,049 6,333,773 91 days to 1 year 26 267 14,451,605 Over 1 yea rto 5 years 142 680,635 Over 5 years to 10 years 750,375 Over 10 years 1,358,247 Digitized for FRASER http://fraser.stlTouoistfaedl.o rg/ 971,543 30,567 23,872,435 Federal Reserve Bank of St. Louis

a.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OK DECEMBER IX, 1957 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas DDaallllaass San delphia land Louis apolis City Francisc (In thousands of dollars) A S S E TS Gold certificate account 21,226,392 1047,548 5,648,224 1149,36 11907,779 1370,251 845,328 3806,287 878,360 384,687 772,876 808,410 2607,281 Redemption fund for F. R. notes 860.592 . 56.169 183.046 59.098 78.776 74.146 49.022 152.324 42.415 22.189 41.648 26.519 75.220 Total gold certificate reserves 22,086,984 1103,717 5,831,270 1208,459 1986,555 1444,397 894,350 3958,611 920,775 406,876 814,524 834,949 2682,501 F.R. notes of other Banks 345,344 25,981 78,010 24,206 14,441 31,275 54,592 28,223 9,044 15,194 7,494 18,987 37,897 Other cash 325,069 17,544 65,195 18,757 22,357 24,123 23,354 55,167 21,655 8,302 11,115 11,928 45,572 Discounts and advances 971,543 43,197 321,301 31,745 102,845 27,779 39,534 268,116 38,739 4,856 72,918 15,212 5,301 Industrial loans 498 293 180 25 Acceptances: Bought outright 25,857 25,857 Held under rep. agree. 4,710 4,710 U* S. Govt, securities: Bought outright- Bills 864,273 47,143 216,138 50,450 75,916 55,221 44,766 150,860 35,742 18,651 37,106 33,870 98,410 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 2,801,750 152.824 700.664 161.547 246.100 179.012 145.122 489.048 115.866 60.462 120.288 109.798 119.019 Total 23,599,635 1287,266 5,901,820 1377,582 2072,945 1507,851 1222,390 4119,340 975,963 509,280 1013^203 924^846 2687*149 Held under rep* agree. 272.800 272,800 — —— —m mkwm -m, Total Ui S. Govt* sees. 23,872.435 1287.266 6,174.620 1377.582 2072.94 51507.851 1222.390 4U9.340 975.963 509.280 1013.203 924.846 2687.149 Total loans & securities 24,875,043 1330,756 6,526,488 1409,507 2175,790 1535,6 310261,924 4387,456 1014,702 514,161 1086,121 940,058 2692,450 Due from foreign "banks 12 1 1 /3 1 1 1 1 2 2 / 2 / 2/ 1 1 Uncollected cash items 4,677,961 346,081 791,175 299,748 424,547 380,693 425,064 775,443 211,588 134,338 227,382 206,927 454,675 Bank premises 83,452 5,015 10,652 4,536 9,659 7,042 6,296 6,827 6,016 5,284 4,908 6,276 10,941 Other assets 201.058 10,925 49,085 11.389 17.722 12.707 10.412 37.131 8.108 t.%8 8.446 8.411 22.4l4 TOTAL ASSETS 52,594,923 2840,020 13,351,878 2976,603 4651,072 3435,868 2675,993 9248,8 620192,188 1088,463 2159,990 2027,53 75946,451 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

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 11, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Franc isc( (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,493,363 1636,307 6,474,371 1732,839 2623,713 2199,531 1292,15 05329,890 1225,94 5485,384 1078,840 738,640 2675,753 Deposits: Member tank reserves 19,213,931 795,111 5,704,888 861,095 1508,853 810,181 931,215 3024,950 714,434 435,900 817,090 989,877 2620,337 U.S.Treas.-gen.acct. 332,774 19,495 60,776 14,950 19,318 27,758 16,605 46,382 16,086 17,801 26,101 30,856 36,646 Foreign 330,147 19,198 1/92,158 23,170 29,790 16,881 14,895 47,002 12,247 7,944 12,578 17,212 37,072 Other 182,036 529 "125.373 9,838 893 2,151 l,p? 22L 1,636 281 725 1.503 36.349 Total deposits 20,058,888 834,333 5,983,195 909,053 1558,854 856,971 964,474 3119,331 744,405 461,926 856,494 1039,448 2730,404 Deferred availability cash items 3,716,669 292,359 527,720 243,007 349,645 309,361 357,649 609,724 170,611 107,640 171,859 182,350 394,944 Other liabilities and accrued dividends 24,409 1,091 7,166 1,176 2,836 1,286 1,085 3,702 813 84l 1,007 1,027 2,379 TOTAL LIABILITIES 51,293,529 2764,090 12,992,452 2886,075 4535,048 3367,149 2615,358 9062,647 2141,774 1055,791 2108,200 1961,465 5803,480 CAPITAL ACCOUNTS Capital paid in 342,150 17,281 101,533 21,198 32,287 15,608 16,476 46,136 11,558 7,405 13,715 18,965 39,988 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 184.108 11.690 42.572 12.540 16.338 12.168 10.218 28.227 9.004 5.674 8.955 8.292 18,439 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,594,923 2840,020 13,351,878 2976,603 4651,072 3435,868 2675,993 9248,8 620192,188 1088,463 2159,990 2027,53 75946,451 Conting. liab. on acceptances purchased for foreign correspondents 68,670 3,985 2/19,275 4,809 6,183 3,504 3,091 9,755 2,542 1,649 2,6ll 3,572 7,694 Industrial loan commit. 1,124 20 98 66 940 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,493,203 1703,696 6,740,782 1799,323 2690,227 2250,096 1349,678 5457,558 1270,764 528,543 1107,950 781,538 2813,048 Collat. for F. R. notes: Gold certificate acct. 12,273,000 700,000 3,270,000 640,000 1130,000 945,000 425,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 141,679 31,010 38,350 72,319 — — — — — • — — U. S. Govt, securities 17,165,000 1150,000 3,600,000 1200,000 1600,000 1350,000 1000,000 3100,000 895,000 425,000 820,000 525,000 1500,000 Total collateral 29,579,679 1850,000 6,870,000 1871,010 2730,000 2295,00® 1425,000 5600,000 1383,350 555,000 1192,319 808,000 3000,000 l/ After deducting $237,98 9,000 participationso f other Federal Reserve Banks, 2/ After deducting $49, 395,000 participationso f other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i _L