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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.4,1 For Immediate Release August 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 August 28 increased $25 million to $18,831 million. Estimated required reserves increased $ 1 3 6 million; and estimated excess reserves decreased $ 1 1 1 million to $412 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $495 million, compared with $402 million the week before. The principal changes supplying average reserves were an increase of $186 million in Federal Reserve holdings of U, S. Government securities, and decreases of $57 million in money in circulation and $38 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $250 million in Federal Reserve float and $18 million in member bank borrowings. Total Reserve Bank credit decreased $ 7 8 million. As of bought outright securities held bank borrowings Wednesday, August 28, holdings of U. S. Government securities were $279 million higher than a week earlier, U. S. Government under repurchase agreement were $ 3 6 million higher, and member were $73 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement AcceptancesBought outright Held under repurchase agreement Loans, discounts, and advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Money in circulation Treasury cash holdings Treasury deposits with F, R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) Averages of dally figures Change from week ending For week ending August 21, 1957IAugust 29,1956 August 28. 1957 (In millions of dollars) 23,215 5 21 + 5 -377 - 25 + 2 + 3 907 8 977 25,133 22,626 52^77 30,998 764 475 339 268 3 ^ 5 Member bank reservesRequired reserves (estimated) Excess reserves (estimated) * Less than $500,000 +181 412 -100 a # -111 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 22,626 Treasury cash holdings 768 Treasury currency outstanding 5,119 Member bank) - Required (est.) 18,417 Money in circulation 31,007 reserves ) - Excess (est,) 177 On August 28, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,536 million, a decrease of $68 million for the week and a decrease of $117 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) August 28, 1957 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S, Government securities Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 2,002 193 2,195 7,623 1,131 83,767 78 4* + 3,201 + + 278,510 21,100,392 838,306 21,938,698 404,243 393,018 792,436 529 + 22,622 576,973 19,933,612 - - + - 4" + + + - 779,000 9,139 769,861 60,120 3,124 322,754 372 4,007 662 - 230,547 +9,000,913 -9,153,913 + 278,510 35,600 + ±_ 314,110 24,163,522 + 401,000 22,220 4,501,846 + + - 612,879 64 14,653 192,865 + 355,007 + 10,591 - 169,311 +1,007,172 81,149 80,076 51,562,574 26,765,461 18,594,098 483,987 351,989 273,618 19,703,692 3,730,040 18,716 50,217,909 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS - 2,801,750 23,312,335 35,600 23,347,935 22 L I A B I L I T I E S 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 Change since August 29, August 21, 1956 1957 + + + + + + - 338,125 747,593 27,543 231,404 51,562,574 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments + ~ 10,834 + 106,707 3,823 + 10,221 16,824 137,575 356,650 4,238 204,003 79 11,059 192,865 47.2fci 68,468 1,918 3,303 79 383,547 35,600 347,947 350,262 274,205 5,860 10,399 + 10,010 +" 267,956 + 289,226 + 765 + 908,209 + + 20,146 53,981 + 24,836 +1,007,172 + 1.0% + 17,387 588 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 28. 1957 (Acceptances and securities held under repurchase agreement are classified as maturing within 1 5 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 782,799 8,480 1,157 792,436 Industrial loans 60 73 225 171 529 Acceptances £7597 18,025 22,622 U. S. Government securities 1S57123 453,950 19,959,605 680,635 750,375 1,358,247 23,347,935 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM: OH AUGUST 28. 1957 St. Phila- CleveRichmond Atlanta Chicago New York Boston Louis land delphia (in thousands of dollars) Minneapolis Kansas City Dallas 21,100,392 1007,690 827,688 352,527 817,523 777,352 2534,378 838,306 55,619 42,144 22,411 42,208 831,302 4087,806 869,832 374,938 859,731 E.4.1(b) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 21,938,698 5,711,837 1116,595 1887,710 1346,138 169,432 57,444 75.295 71,847 1063,309 5,881,269 1174,039 1963,005 1417,985 57,476 19,695 35,296 24,805 21,933 68,368 28,150 9,467 22,174 19,475 57,386 12,127 12,099 17,237 14,427 36,014 47,828 98,215 34,711 79,525 112,862 42,547 26,273 29 66,393 36,649 30,782 36,865 29,885 100,711 1273,618 1032,502 3479,432 12,451 24,771 824,355 F.R. notes of other Banks Other cash 404,243 393,018 41,256 70,173 88,287 26,780 Discounts and advances Industrial loans Acceptances— Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 792,436 529 31,908 318 186,481 46,090 182 32,967 149,934 8,620 27,070 76,682 804,422 2611,060 22,622 31,472 144,290 33,679 1087,299 4,985,018 1163,585 50,680 1750,929 23,861 430,167 855,809 22,611 65,697 781,178 2269,720 35,600 35,600 lyi.q^ 5.865.572 1360,811 2047,709 1489,495 1207,509 4o69-"-91 964,082 503,080 1000,868 913,587 2654,436 24,163,522 1303,821 6,074,675 1407,083 2145,924 1524,206 1287,034 4182,053 1006,629 529,382 1067,261 950,236 2685,218 22 Due from foreign banks Uncollected cash items Bank premises Other assets 4,501,846 81,149 TOTAL ASSETS 51,562,574 80,076 1/6 796:173 2 2 1 224,085 4,791 3,428 2768,225 12,939,821 2953,142 4594,894 3365,408 2571,163 9138,022 2096,729 1064,349 2183,523 10,496 18.742 4,603 4,345 414,485 9,326 7.161 7,168 5,055 1 341,626 5,702 4,l6l 3 760,545 6,573 15,506 1 124,992 5,136 1,805 278,814 1 364,255 1 179,895 5,649 3.082 1 325,320 5,119 4,178 1/ After deducting $16,000 participations of other Federal Reserve Banks, 48,220 7 0 0 , 6 6 4 163,547 246,100 lJSh012 ._!!&122 , 1 8 2 ^ 4 ^ 1 ^ ,8^6—6o_,462_lgq^288 109,798 319,01 M 0 L I 5 P . 112*824 1271,595~~5,o29,972 13o0,8ll 2047,709 l589,495 1207,509 4069,191 9%,082 503,080 1000,868 913,587 2654/436 23,312,335 Total U. S. Govt, sees. Total loans & securities 25,221 22,622 576,973 19,933,612 783,082 3937,872 San Fr&nciecc 1 247,858 5,631 3,907 2 443,798 10,955 ZjOk 2043,719 5843,579 H.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDIT:CON OF EACH FEDERAL RESERVE BANK ON AUGUST 28. 1957 St. ClevePhilaRichmond Atlanta Chicago New York delphia Boston land Louis (In thousands of dollars) 2544,837 2127,978 1244,169 5202,903 867,965 1508,386 806,430 917,087 35,632 33,680 32,743 39,852 1/106,810 23,870 30,690 17,391 15,345 3030,635 26,765,461 1593,805 6,293,489 18,594,098 483,987 351,989 273.618 19,703,692 766,494 5,244,097 77,873 25,377 19,778 1.157 1696,127 813,006 212.414 5641,214 2,634 2,176 3,730,040 282,445 '629,051 225,263 352,044 306,703 18,716 1,061 50,217,909 2690,317 4,959 10,411 937,898 795 12,568,713 2860,083 56,630 48,422 1,533 1,598 1575,390 858,740 973,817 3137,285 2,182 952 4474,453 3294,373 290,058 599,885 774 2,952 1187,915 Minneapolis 466,176 Kansas City Dallas San Francisco 1063,932 707,374 2636,756 660,990 4 2 6 , 5 7 8 832,964 12,617 19,293 8,184 P,75fi 7H,959 454,335 1000,894 2531,578 31,069 58,343 12,958 17,732 38,192 46§3r23S 34,525. 884,480 1052,930 2662,638 144,453 109,513 180,528 215,095 395,002 701 860 735 919 1,826 35,602 37,893 2508,818 8943,025 2045,028 1 0 3 0 , 8 8 4 2129,675 1976,318 5696,222 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 338,125 747,593 27,543 231,404 17,177 43,948 3,011 UyTfZ 99,499 208,002 7,319 56,868- 21,145 52,301 4,489 15,124 32,137 66,393 1,006 -aQ.,-9©* 15,351 37,594 3,349 14/741 16,190 33,179 762 1%214 45,881 110,421 1,429 37,266 11,407 29,331 521 3K>,44e 7,325 18,520 1,073 6 7 ^ 13,586 27,983 1,137 11,142 18,875 37,508 1,307 9,711 39,552 82,413 2,140 23,252 51,562,574 2768,225 12,939,821 2953.142 4594.894 1165.408 2571,163 9136,022 2096,729 1064,349 P1ft3,5?3 2043,719 5843,579. 68,468 1,918 3,973 2/19,217 4,795 121 6,165 68 3,493 3,082 9,727 81 2,535 1,644 2,603 1,649 3,562 7,672 FEDERAL RESERVE AGENTS* ACCOUNTS F. R. notes outstanding 27,753,545 1665,505 6511,266 1763,951 2609,582 2186,003 1310,379 5312,383 1230,567 523,438 1095,799 759,987 2784,685 Collat. for F. R. notes: Gold certificate acct. 11,978,000 580,000 3170,000 640,000 1130,000 895,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 153,435 — 45,320 — — --42,140 65,975 U. S. Govt, securities 16.955.000 1150.000 1600.000 ipon.noo issOj.nnn i^m r nnn innnrnon inno.nm 875.000 425.noo 820,000 Total collateral „ ...1710 . (W> £77r> n m nnn porvj nnp i4oAJnnn 55nn, rnn i167.iUn—555.,000 1105,975—808,000 3000,000 29,086,435 cipations 1/ After deducting^245,179 000 participations of other Federal Reserve Banks. ?/ After deducting^ 49^251^000 participations of other Federal Reserve Banks.
@FedFRASER