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 26, 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 25 increased $183 million to $19,666 million. Estimated required reserves increased $110 million; and estimated excess reserves increased $73 million to $709 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $72 million, compared with $109 million the week before. The principal changes supplying average, reserves were increases of $369 million in Federal Reserve float, $43 million in Federal Reserve holdings of U. S. Government securities and $22 million in acceptances, and $36 million in member bank borrowings, The principal offsetting changes were increases of $144 million in Treasury deposits with Federal Reserve Banks, $116 million in money in circulation, and $25 million in foreign deposits with Federal Reserve Banks, Total Reserve Bank credit increased $469 million. As of Wednesday, December 25, holdings of U, S. Government securities bought outright were $36 million higher than a week earlier, U, S. Government securities held under repurchase agreement were $120 million higher, and member bank borrowings were $63 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending) Change from week ending and related items Dec. 25, 1957 I Dec. 18, 1957 Dec. 26, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,617 +17 - 957 Held under repurchase agreement 333 +26 +1 Acceptances- Bought outright 37 +10 +4 Held under repurchase agreement 20 +12 - 7 Loans, discounts, and advances— Member bank borrowings 781 + 36 + 140 Other 6 — - 21 Float 1,894 +369 - 314 Total Reserve Bank credit 26,687 +%&§ -1,155 Gold stock 22,770 — + 821 Treasury currency outstanding 5^14-5 +2 + 79 54,602 +472 - 25S Money in circulation 32,089 +116 + 97 Treasury cash holdings 764 - 4 1 Treasury deposits with F. R. Banks 483 +144 - 152 Foreign deposits with F. R. Banks 359 +25 - 34 Other deposits with F. R. Banks 179 - 4 - 79 Other F. R. accounts (net) 1,061 + 11 + 37 34,936 +2B8 - 130 Member bank reserves-- 19,666 +183 - 124 Required reserves (estimated) 18,957 +110 - 129 Excess reserves (estimated) 709 +73 +5 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 759 Treasury currency outstanding 5,145 Member bank) - Required (est.) 18,912 Money in circulation 32,131 reserves ) - Excess (est.) 532 On December 25, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,776 million, an increase of $15 million for the week and a decrease of $170 million from the comparable date a Digitized for FRASER 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 Dec. 25, Dec. T87^~ Dec. 26 1957 1957 1956 Gold certificate account 21,215,392 - 2,001 + 821,000 Redemption fund for F. R, notes + 22,,000000 - , 5,698 Total gold certificate reserves 22 22 ,, %% EE55 - + 815,302 F. R. notes of other Banks 345,109 - 6,878 + 64,598 Other cash 306,288 - 2,541 29,179 Discounts and advances 793,709 + 62,856 + 143,985 Industrial loans 499 - 8 - 306 Acceptances: Bought outright 3366,,332277 + 10,015 + 33,,228844 Held under repurchase agreement 23,631 + 8,112 - 5,288 U, S. Government securities: Bought outright-- Bills 900,073 + 3355,,880000 882211,,119977 Certificates 19,933,612 +9 ,000,913 Notes -9,153,913 Bonds 2,801,750 « ««• Total bought outright 23,635,435 + 35,800 - 974,197 Held under repurchase agreement 384,200 + 120,400 + 53,600 Total U. S. Government securities 24,019,635 + 156,200 - 920,597 Total loans and securities 24,873,801 + 237,175 778,922 Due from foreign banks 12 — - 10 Uncollected cash items 5,583,515 913,879 + 703,668 Bank premises 83,895 + 310 10,254 Other assets 221100,,441166 + 15,380 - 33,481 TOTAL ASSETS 5533,,448877,,668822 670,434 + 810,588 L I A B I L I T I ES Federal Reserve notes 27,710,671 + 100,193 + 114,335 Deposits: Member bank reserves 19,444,314 180,734 + 304,150 U. S. Treasurer--general account 346,440 141,298 186,288 Foreign 386,000 + 41,931 + 4,469 Other 180,307 + 5 >484 - 141,163 Total deposits 20,357,061 - 274,617 - 18,832 Deferred availability cash items 4,063,252 . - 511,577 + 701,266 Other liabilities and accrued dividends 25,743^*+ 1,051 4,936 TOTAL LIABILITIES 52,156,72%^ - 684,950 + 791,833 C A P I T AL A C C O U N TS Capital paid in 344,587 + 944 + 19,466 Surplus (Section 7) 747,593 53,981 Surplus (Section 13b) 27,543 . , Other capital accounts 211,2#*^ + 13,572 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,487,682 - 670,434 Ratio of gold certificate reserves to deposit .1# and F. R. note liabilities combined 45.9# + 1.6% Contingent liability on acceptances purchased for foreign correspondents 68,146 221 + 18,396 Industrial loan commitments 1,104 1,265 __1 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 25, 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 785,010 60 32,317 524,200 16 days to 90 days 8,684 29 27,641 6,267,066 91 days to 1 year 15 277 14,439,112 Over 1 year to 5 years 133 1,374,400 Over 5 years to 10 years 56,610 Digitize O d v fo e r r FR A 1 S 0 E R y ears 1.358,247 http://fraser.stTloouitsfaedl.o rg/ 793,709 W 597953 24,019,635 Federal Reserve Bank of St. Louis

E.4.1(b) STA.TEMEN1 OF CONDITION OF EACH FEDERAL RESERVE jDMuwn. vrt 1 -j* *-jj\ Phila- Cleve- St. Minne- 1 Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis I City Francisco AS S I TS Gold certificate account 21,215,392 1090,314 5,259,327 1193,970 1961,520 1385,877 908,544 3852,128 909,971 386,195 800,363 804,889 2662,294 Redemption fund for F. R. notes 869,254 56,044 182,497 60,901 79,561 73,569 48,920 157,090 43,349 22,171 41,597 28,495 75,060 Total gold certificate reserves 22,084,646 1146,358 5,441,824 1254,871 2041,081 1459,446 957,464 4009,218 953,320 408,366 841,960 833,384 2737,354 F.R. notes of other Banks 345,109 25,764 77,729 27,392 17,169 31,640 52,056 30,610 12,080 18,268 9,270 17,020 26,111 Other cash 306,288 17,624 64,544 14,146 20,065 22,134 21,945 48,635 23,261 7,779 12,057 10,091 44,007 Discounts and advances 793,709 24,060 205,370 32,485 67,650 26,576 53,375 196,060 16,985 9,825 62,339 22,599 76,385 Industrial loans 499 285 190 24 Acceptances: Bought outright 36,327 36,327 — — -Held under rep. agree. 23,631 23,631 -- -- — XL S-. Govt, securities: Bought outright— Bills 900,073 49,095 225,091 52,539 79,060 57,509 46,621 157,109 37,223 19,424 38,643 35,273 102,486 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 23,635,435 1289,218 5,910,773 1379,671 2076,089 1510,139 1224,245 4125,589 977,444 510,053 1014,740 926,249 2691,225 Held under rep. agree. 384.200 384,200 — — -• -» —• — Total U. S. Govt, sees. 24.019,635 1289.218 6,294,973 1379,671 2076,089 1510,139 1224,245 4125,589 977,444 510,053 1014,740 926,249 2691,225 Total loans & securities 24,873,801 1313,563 6,560,301 1412,346 2143,739 1536,715 1277,620 4321,649 994,429 519,902 1077,079 948,848 2767,610 Due from foreign tanks 12 1 1/ 3 1 1 1 1 2 2/ , 2/ 1 1 Uncollected cash items 5,583,515 387,989 1,1067590 369,872 516,801 441,313 409,831 972,701 214,738 143,^32 262,779 264,715 492,354 Bank premises 83,895 5,045 10,654 4,513 9,724 7,012 6,495 6,832 6,130 5,309 4,908 6,301 10,972 Other assets 210,416 11,415 51,870 11,767 18,518 13,194 10,974 38,248 8,428 4,503 8,863 9,002 23,634 TOTAL ASSETS 53,487,682 2907,759 13,313,515 3094,908 4767,098 3511,455 2736,386 9427,895 2212,386 1107,959 2216,916 2089,362 6102,043 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 JL

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 25, 1957 Total Boston New York P d h e i l l ph a i - a Cl l e a v n e d - IRichmond Atlanta IChicago Lo S u t i . s M a i p n o n l e i - s K C a i n t sa y s Dallas Fran S c a i n s co (In thousands of dollars) : L I A B I L I T I ES Federal Reserve notes 27,710,671 1652,652 6,530,786 1749,705 2645,448 2209,704 1315,390 5366,341 1234,220 497,069 1079,842 749,255 2680,259 Deposits: Member bank reserves 19,444,314 834,498 5,418,143 932,517 1557,039 847,034 963,391 3125,751 714,525 435,413 856,059 1007,276 2752,668 U.S.Treas.-gen.acct. 346,440 16,276 58,134 15,104 28,810 33,249 43,232 23,362 16,487 19,441 18,467 27,815 46,063 Foreign 386,000 20,996 1/125,722 25,340 32,580 18,462 16,290 51,404 13,394 8,688 13,756 18,824 40,544 Other 180,30' 495 ~ 117,780 11,444 1,369 lz_88l 1.156 131 3,316 2.916 599 1,325 37.491 Total deposits 20,357 ,061 872,265 5,719,779 985,405 1619,795" 900,626 1024,069 3201,052 747,722 466,458 888,031 1055,240 2876,766 Deferred availability cash items 4,063,252 303,827 687,417 267,665 380,432 329,456 333,939 665,381 178,230 110,401 194,274 216,129 396,101 Other liabilities and & accrued dividends 25,7*9 1,273 8,122 1,151 2J384 1,272 1,042 3,581 52 810 954 1,395 2,514 TOTAL LIABILITIES 52,156,7 2830,017 12,946,104 3002,926 4648,562 3441,058 2674,440 9236,355 2160,91% 1074,738 2163,951 2022,019 5955,640 3+ XH CAPITAL ACCOUNTS ¥ Capital paid in 344,5g87 I )17,75 9 102,116 21,192 32,514 15,635 16,501 46,529 11,576 7,423 13,757 19,350 40,235 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 211,2 13,024 49,974 14,000 18,623 13,819 11,504 33,161 10,Cfoijy 6,205 10,088 9,178 21,615 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,487,682 2907,759 13,313,515 3094,908 4767,098 3511,455 2736,386 9427,895 2212,386 1107,959 2216,916 2089,362 6102,043 Conting. liab. on acceptances purchased for foreign correspondents 68,146 3,950 2/19,182 4,767 6,129 3,473 3,065 9,670 2,520 1,634 2,588 3,541 7,627 Industrial loan commit. 1,104 - - - - 10 88 66 — —— 940 —— — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,609,818 1705,159 6,763,643 1803,404 2707,726 2267,741 1374,677 5469,469 1272,745 534,344 1107,055 789,219 2814,636 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 111,084 — ~~ 32,135 -- — -- -- 16,800 — 62,149 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 29,549,004 1550,000 6,370,000 1572,135 2730,000 2295,000 1425,000 5600,000 1361.800 555,000 1182.149 808.000 3000.000 l/ After deducting $260,278,000 participations of other Federal Reserve Banks 2/ After deducting $48,964,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis