H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 2, 1958 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member tank reserve sfor the week ending January 1 increased $4l million to $19,707 million. Estimated required reserves increased $31 million; and estimated excess reserves increased $10 million to $724 million. Excess reserves exceeded member bank borrowing sat the Federal Reserve Banks by $68 million; the wee kbefore they were $67 million less than member bank borrowings. The principal changes supplying average reserves were increases of $276 million in U. S. Government securitie sheld under repurchase agreement and $118 million bought outright, and decreases of $130 million in money in circulation and $25 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $344 million in Federa lReserve float and $125 million in member ban kborrowings, and increases of $38 million in foreign deposits with Federal Reserve Banks and $22 million in "other" deposit swith Federal Reserve Banks. Total Reserve Bank credit decreased $64 million. As of Wednesday, January 1 ,holdings of U. S. Government securities bought outright were $84 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $13 5million higher, and member bank borrowings were $738 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan, 1, 1958 Dec. 25, 1997 I Jan. 2, 1957 (In millions Of dollars) Reserve Bank credit: U. S, Government securities- Bought outright—System account 23,735 +118 -875 Held under repurchase agreement 609 4276 +225 Acceptances- Bought outright 42 + 5 + 8 Held under repurchase agreement 24 + 4 - 10 Loans, discounts, and advances- Member bank borrowings 656 -125 -244 Other 6 - 20 Float 1,550 -344 + 13 Total Reserve Bank credit 26,623 -901 Gold stock 22,774 + 4 +825 Treasury currency outstanding 5,147 + 2 + 81 k 54,544 + Money in circulation 31,959 -130 +130 Treasury cash holdings 776 + 12 - 1 Treasury deposits with F. R. Banks 458 - 25 + 63 Foreign deposits with F. R. Banks 397 + 38 + 23 Other deposits with F. R. Banks 201 + 22 -134 Other F. R. account s(net) 1,045 - l6 + 72 34,837 - 99 +153 Member bank reserves- 19,707 + 41 -149 Required reserves (estimated) 18,983 + 31 -127 Excess reserves (estimated) 724 + 10 - 22 For Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached, which i spublished as of December 31, because of the holiday and does not reflect accrual sfor Wednesday, January 1. Latest Wednesday figures for other items appearing above are ,in millions of dollars: Gold stock 22,781 Treasury cash holdings 780 Treasury currency outstanding 5,146 Member bank) - Required (est,) 19,073 Money in circulation 31;815 reserves ) - Excess (est.) -39 On January 1, 1958, U. S. Government securitie sheld in custody by the Federal Reserve Banks for foreign account were $3,72 9million, a decrease of $47 million for the week an da decrease of $12 5million from the comparable date Digitized for FRASER http://frasaer .sytloeuaisrfe da.ogrgo/ , ^17 Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 31, Dec. 25, Jan. 2, 1957 1957 1957 A S S E TS Gold certificate account 21,215,392 + 841,001 Redemption fund for F. R. notes 869,249 5 - 25,701 Total gold certificate reserves 22,084,641 - 5 + 815,300 F, Ri notes of other Banks 443,288 98,179 + 64,155 Other cash 338,622 + 32,334 + 30,073 Discounts and advances 55,364 - 738,345 - 315,080 Industrial loans 482 - 17 - 311 Acceptances: Bought outright 42,337 + 6,010 + 7,783 Held under repurchase agreement 23,351 280 383 • U. S, Government securities: Bought outright— Bills 983,573 + 83,500 737,697 Certificates 19,933,612 —- +9' ,000,913 Notes -9,153,913 -- Bonds 2,801,750 - - Total bought outright 23,718,935 + 83,500 ~ 890,697 Held under repurchase agreement 519,350 + 135,150 + 310,350 Total U. S. Government securities 24,238,285 + 218,650 - 580,347 Total loans and securities 24,359,819 - 513,982 - 888,338 Due from foreign "banks 15 + 3 - 7 Uncollected cash items 5,494,735 - 88,780 - 324,095 Bank premises 83,763 - 132 + I0,4cd Other assets 223,584 + 13,168 - 32,255 TOTAL ASSETS 53,028,467 - 459,215 - 324,759 L I A B I L I T I ES Federal Reserve note's ~ 27,534,791 - 175,880 107,623 Deposits: Member bank reserves 19,033,795 — 410,519 - 351,758 U. S. Treasurer—general account 480,810 + 134,370 + 103,92b Foreign 356,342 - 29,658 + 65,68b Other 246,284 65,977 * 75,532 Total deposits 20,117,231 - 239,830 - 257,67a Deferred availability cash items 4,070,844 + 7,592 - 250,890 Other liabilities and accrued dividends!/ 14,948 10,802* ~ 2,03C TOTAL LIABILITIES 51,737,814 - 418,920* *• 402,975 C A P I T AL A C C O U N TS Capital paid in 345,106 + 519 + 19,348 Surplus (Section 7) 809,198 + 61,605 4" 61,605 Surplus (Section 13b) 27,543 — Other capital accounts 108,806 - 102,419* - 2,73" TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,028,467 459,215 324,759 - Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3$ + .4# Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 1,109 * December 25 figures revised. 1/ No accrued dividends December 31, 1957* 1—1 76,114 + 7,968 + 25,857 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 31, 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 46,700 69 34,371 674,850 16 days to 90 Says 8,664 20 31,317 6,335,C66 91 days to 1 year 260 14,439,112 Over 1 year to 5 years 133 1,374,400 Over 5 years to 10 years 56,610 Digitized foOrv FeRrA SE1R0 years 1,358,247 http://fraser.stlouiTsfoedt.aorlg/ 55,364 24,238,285 Federal Reserve Bank of St. Louis

E,4.l(b) STATEMENT OF COHDITIOM OF EACH FEDERAL RESERVE BANK ON DECEMBER 31, 1957 Total Boston New York Pkila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 21,215,392 1010,595 5,522,298 1182,730 1943,736 1347,887 830,921 3805,144 908,740 390,876 843,470 808,001 2620,994 Redemption fund for F. R. notes 869.249 56.043 182.497 60,901 79,558 73.569 48,919 157,090 43.349 22.171 41.597 28,495 75.060 Total gold certificate reserves 22,084,641 1066,638 5,704,795 1243,631 2023,294 1421,456 879,840 3962,234 952,089 413,047 885,067 836,496 2696,054 F.R. notes of other Banks 443,288 31,701 95,949 38,556 28,480 45,902 56,404 37,731 17,588 23,008 10,162 21,148 36,659 Other cash 338,622 19,863 66,417 15,056 22,701 25,618 24,744 56,959 25,649 8,359 12,492 12,829 47,935 Discounts and advances 55,364 740 4,695 5,490 4,200 4,265 3,275 9,460 435 120 7,099 14,825 760 Industrial loans 482 285 173 24 Acceptances: Bought outright 42,337 42,337 Held under rep, agree. 23,351 23,351 U. S. Govt, securities: Bought outright— Bills 983,573 53,650 245,973 57,413 86,395 62,844 50,946 171,684 40,675 21,226 42,228 38,545 111,994 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 23,718,935 1293,773 5,931,655 1384,545 2083,424 1515,474 1228,570 4140,164 980,896 511,855 1018,325 929,521 2700,733 Held under rep. agree. 519,350 519,350 Total U. S. Govt, sees. 24.238,285 1293,773 6,451,005 1384,545 2083,424 1515.474 1228,570 4l40.l64 980.896 511,855 1018,325 929,521 2700.733 Total loans & securities 24,359,819 1294,798 6,521,388 1390,208 2087,624 1519,739 1231,845 4149,624 981,331 511,999 1025,424 944,346 2701,493 Due from foreign banks 15 1 1 /4 1 1 l 12 1 2/ 1 11 Uncollected cash items 5,494,735 467,096 1,173,568 345,425 490,271 421,538 466,237 887,537 188,651 136,191 238,904 223,368 455,949 Bank premises 83,763 5,010 10,664 4,514 9,678 6,996 6,497 6,823 6,138 5,307 4,903 6,260 10,973 Other assets 223.584 11.971 55.349 12.740 19.340 14.058 11,657 40,656 9.041 4.779 9.493 9.345 25.155 TOTAL ASSETS 53,028,467 2897,078 13,628,134 3050,131 4681,389 3455,308 2677,225 9141,566 2180,488 1102,690 2186,446 2053,793 5974,219 1 1/ After deducting $11,000 pc;reiput±ortG of other Federa lR&serve 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 31 ,1957 Phila- Cleve- St. Hinne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 27,534,791 1638,156 6,500,863 1738,756 2624,653 2188,221 1305,420 5334,243 1226,564 494,826 1077,385 748,184 2657,520 Deposits: Member bank reserves 19,033,795 777,422 5,716,993 874,741 1486,691 801,083 851,881 2905,986 699,440 433,491 804,111 996,223 2685,733 U.S.Treas.-gen.acct. 480,810 38,077 68,734 30,221 45,778 47,l6l 41,231 62,021 25,982 18,515 41,690 30,868 30,532 Foreign 356,342 19,778 1/111,163 23,870 30,690 17,391 15,345 48,422 12,617 8,184 12,958 17,732 38,192 Other 246.284 3,106 ~ 150.963 12.954 5,483 5.156 3.974 10.423 2.560 1.336 3.436 2.167 44.726 Total deposits 20,117,231 838,383 6,047,853 941,786 1568,642 870,791 912,431 3026,852 740,599 461,526 862,195 1046,990 2799,183 Deferred availability cash items 4,070,844 344,347 717,766 279,334 371,626 327,773 398,917 594,080 163,043 113,263 195,229 190,958 374,508 Other liabilities 14,948 549 5,367 623 1,484 587 492 2,475 439 628 480 572 1,252 TOTAL LIABILITIES 51,737,814 2821,435 13,271,849 2960,499 4566,405 3387,372 2617,260 8957,650 2130,645 1070,243 2135,289 1986,704 5832,463 CAPITAL ACCOUNTS Capital paid in 345,106 17,742 102,215 21,192 32,514 15,695 16,562 46,570 11,577 7,426 13,781 19,405 40,427 Surplus (Section 7) 809,198 47,013 223,963 55,923 71,550 41,236 36,192 121,504 31,586 19,697 30,533 40,871 89,130 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,l4o Other capital accounts 106,806 7,877 22,788 8.028 9,914 7,656 6.449 14,413 6, #9 4.251 5,7# 5,596 10,059 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,028,467 2897,078 13,628,134 3050,131 4681,389 3455,308 2677,225 9141,566 2180,488 1102,690 2186,446 2053,793 5974,219 Conting. liab. on acceptances purchased for foreign correspondents 76,114 4,4l4 2/21,398 5,327 6,849 3,881 3,425 10,806 2,816 1,826 2,892 3,957 8,523 Industrial loan commit. 1,1U9 • * —— £0 | f —— —— Ov —— —— y*+\J - — — FEDERAL RESERVE AGENTS* ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,643,2% 1702,333 6,795,945 1800,791 2700,128 2266,546 1374,708 5472,919 1280,689 534,419 1109,605 792,868 2812,335 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 12,299 —— — — 5,l4o —— —— —— —— 250 —— 6,909 —— UU»» SS.. GGoovvtt,, sseeccuurriittiieess 17.l65.000 1150.000 1.600.000 1200.000 1600.000 1350.000 1000.000 3100.000 895.000 425.000 820.000 525.000 1500.000 TToottaall ccoollllaatteerraall 29,450,299 1850,000 6.870,000 1845.140 2730.000 2295.000 1425,000 5600.000 1345.250 555.000 1126.909 808.000 3000.000 l/ After deducting $245,179,000 participations of other Federal Reserve Banks. 2/ After deducting $54,716,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis