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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release August 8, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending August 7 decreased $17 million to $18,868 million. Estimated required reserves decreased $108 million; and estimated excess reserves increased $91 million to $480 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $580 million, compared with $164 million the week before. The principal changes reducing average reserves were decreases of $238 million in U. S. Government securities held under repurchase agreement and $70 million in Federal Reserve float, and increases of $155 million in "other" F. R. accounts (net) and $74 million in money in circulation. The principal offsetting change was an increase of $507 million in member bank borrowings. Total Reserve Bank credit increased $192 million. As of Wednesday, August 7, holdings of U. S. Government securities bought outright were $2 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $276 million lower, and member bank borrowings were $383 million higher. Holdings of certificates increased $8,571 million and notes decreased a like amount, reflecting the exchange of notes maturing August 1 and October 1 for the new issues of certificates maturing December 1, 1957 and August 1, 1958. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright—System account Held under repurchase agreement Acceptances—bought outright Loans, discounts, and advances-Member 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) Member bank reserves-Required reserves (estimated) Excess reserves (estimated) Averages of daily figures Change from week ending For week ending August 7, 1957 July 31, 1957 IAugust 8, 1956 (In millions of dollars) 23,078 38 20 - 6 -238 - 1 -340 + 38 + 2 1,060 1 +507 +143 W *• m m 25,124 22,627 5,113 52,864 - 70 +192 + 99 ^5% +772 +196 +793 30,983 767 498 355 277 1,116 33,996 + 74 - 4 + 4 - 15 - 1 +155 +213 +350 928 18,868 isb® 480 + + 1 3 - 17 -108 + 91 + 78 - 2 - 32 + 36 - 7 +167 +512 +280 +370 - 90 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 22,627 Treasury cash holdings 772 Treasury currency outstanding 5,113 Member bank) - Required (est.) 18,326 Money in circulation 31,017 reserves ) - Excess (est.) 205 On August 7, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,756 million, an increase of $26 million for the week and an increase of $53 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) Change since August 8, July 31, 1956 _122L— August 7# 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 U. S. Government securities; Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 21,105,392 838,662 21,944,054 371,527 380,209 808,195 609 19,425 «*«* 2,096 + + +8,571,413 -8,571,413 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 + + - + - + 783,999 13,939 770,060 61,555 6,002 90,859 330 2,312 - 188,307 +9,000,913 -9,153,913 - 341,307 23,076,425 2,500 275,800 278,300 - 341,307 23,904,654 + 109,628 - 248,466 4,385,772 80,655 128,127 51.195.020 + 486,991 230 + + 295,815 10,934 - 55TO3 * 797,885 26,744,593 + 73,097 + 343,918 18,530,706 341,343 366,847 270,573 19,509,469 3,617,804 13,798 ¥9,885 664 - 99,560 - 163,108 + - 287,733 219,475 + - + + 22 LIABILITIES - - 23,076,425 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 6 2,500 341,063 19,933,612 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 2,096 12,649 6,485 387,933 1 + - 160,060 337,908 747,593 27,543 196,312 51.195,020 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - 86,011 + - 2,734 25,585 285,519 358,545 127 571,094 + 2,845 155,111 207,133 508 705,&5k + 274 + + 20,374 53,981 + - 12,397 558,423 + 17,876 797 47,4# .2# 73,778 1.793 3,630 2 89,698 I 1,1$ 24,164 690 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 7, 1957 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 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 795,403 7,703 5,089 808,195 Industrial loans £9 63 296 Acceptances 6,219 13,206 181 m 19,425 U. S. Government securities " 142,100 198,963 19,946,105 680,635 750,375 -LMiM 23,076,425 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE iZatSZL, „• f Phila- CleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands Total A S S E T S Gold certificate account Redemption fund for F. R, notes Total gold certificate reserves 21,105,392 1015,785 838,662 5,646,766 1117,592 1887,941 1326,719 55,885 21,944,054 1071,670 170,623 57,872 74,782 73,386 5,817,389 1175,464 1962,723 1400,105 Minneapolis Kansas City Dallas 859,564 375,155 843,416 790,458 2535,327 150,475 42.273 22,469 40.318 864,192 4041,415 901,837 397,624 883,734 815,729 3890,940 48,463 25,151 San Francisco 76.965 815,609 2612,292 F.R. notes of other Banks Other cash 371,527 380,209 29,329 25,475 74,091 90,934 45,713 23,070 19,672 37,258 24,804 20,583 72,806 28,984 27,145 55,209 7,493 19,966 18,736 7,769 7,923 10,800 16,290 14,283 27,525 45,878 Discounts and advances Industrial loans Acceptances-Bought outright U. S. Govt, securities: Bought outrightBills Certificates Botes Bonds Total Held under repurchase agreement 808,195 80,330 327 147,755 73,295 252 106,631 48,055 66,500 152,610 11,385 15,828 30 55,865 30,887 19,054 18,604 341,063 1087,299 19,933,612 19,908 29,958 21,792 17,666 59,533 85,293 4,985,018 1163,585 1750,929 1273,618 1032,502 3479,432 14,105 824,355 14,643 7,360 430,167 855,809 781,178 2269,720 13,366 38,835 2,801,750 152.824 23,076,425 1258,727 700.664 163.547 246.100 179.012 145.122 489.048 5,770,975 1347,040 2026,987 1474,422 1195,290 4028,013 115.866 954,326 60.462 497,989 109.798 319.01 904,342 2627,57 609 19,425 19,425 120.288 990,740 Total U. S. Govt, sees. 23,076,425 1258,727 5,770,975 1347,040 2026,987 1474,422 1195,290 4028,013 954,326 497,989 990,740 904,342 2627,574 Total loans & securities 23,904,654 1339,384 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 4,385,772 80,655 128,127 1 340,366 5,150 6,967 5,938,155 1420,587 2133,618 1522,477 1261,790 4180,623 1 / 6 2 2 1 9,177 7,149 3 1 6,476 5,554 513,847 1046,605 935,229 2646,628 1 1 1 5,120 4,755 5,631 2 760,025 300,047 372,953 364,132 366,965 706,180 187,116 117,401 217,842 201,992 450,753 10,339 30,576 4,625 7,240 11,579 8,056 5,667 6,685 24,007 5,131 2,762 5,387 5,591 11,012 14.146 51,195,020 2818,342 12,721,515 2976,748 4546,982 3347,307 2607,090 9041,058 2092,809 1063,260 2177,047 1994,626 5808,236 1/ After deducting $16,000 participations of other Federal Reserve Banks. 1 965,711 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 7, 1957 St. ClevePhilaAtlanta Chicago Richmond New York delphia Boston Louis land (In thousands of dollars J 26,744,593 1599,351 6,285,896 1700,842 2533,721 2109,740 1254,385 5186,977 1187,779 883,082 1516,061 24,247 22,169 1/107>288 25,270 32,490 10,207 1,302 212>277 5,507,102 942>006 1572,022 18,530,706 341,343 366,847 270,573 19,509,469 804,115 29,235 20,938 405 5,142,199 45,338 3,617,804 286,931 564,442 054,693 241,720 322,039 Minneapolis Kansas City Dallas San Francisco 471,846 1065,962 699,504 2648,590 811,754 34,562 18,411 2,632 067,359 932,990 2990,591 680,125 423,828 23,841 34,364 34,469 11,152 8,664 16,245 51,262 13,357 1,684 1,423 302 974 905,203 3077,745 705,600 456,635 300,280 305,951 828,942 1006,352 2510,667 39,158 17,175 25,633 13,718 18,772 40,432 839 3,036 35,492 002,657 1045,335 2612,224 585,698 148,258 101,287 175,754 182,941 402,503 640 484 588 706 2,569 526 504 2,143 1,013 3,110 598 917 13,798 49,titi5,664 2741,892 12,360,550 2885,966 4429,925 3278,085 2546,259 0052,909 2042,129 1030,356 2124,899 1928,284 5664,330 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. 337,908 747,593 27,543 196,312 17,171 43,948 3,011 12,320 21,142 52,301 4,489 12,850 32,126 66,393 1,006 17,532 15,350 37,594 3,349 12,929 16,181 45,782 110,421 33,179 1,429 762 10,709 30,437 11,388 29,331 521 9,440 7,323 18,520 1,073 5,988 13,581 27,983 1,137 9,447 18,853 37,508 1,307 8,674 39,537 82,413 2, l4G 19,816 51,195,020 2818,342 12,721,515 2976,748 4546,982 3347,307 2607,090 9041,058 2092,809 1063,260 2177,047 1994,626 5808,236 73,778 1,793 4,275 F. R. notes outstanding 27,675,155 1657,322 Collat. for F. R. notes: Gold certificate acct. 11,878,000 580,000 Eligible paper 139,820 U. S. Govt, securities 16,955,000 1150,000 Total collateral 28,972,820 1730,000 1/ After deducting $259,559,000 participations 2/ After deducting $52,991,000 participations 99,474 208,002 7,319 46,170 2/20,787 5,159 51 6,633 13 3,759 3,317 "tntrtTTKtmo nmoTmxrni /\ rrcnvtmo I •A 10,465 81 2,727 1,769 2,801 1,648 3,832 8,254 6,511,677 1771,160 2599,800 2160,640 1316,152 5286,099 1234,276 526,091 1093,979 746,301 2763,658 3,170,000 640,000 1130,000 895,000 400,000 2400,000 450,000 130,000 300,000 283,000 1500,000 -11,200 -— 55,675 — —72,945 -3,600,000 1200,000 1550,000 1310,000 1000,000 3000,000 875,000 425,000 820,000 525,000 1500,000 6,770,000 1912,945 2680,000 2205,000 1400,000 5400,000 1336,200 of other Federal Reserve Banks. of other Federal Reserve Banks. 555,000 1175,675 808,000 3000,000
@FedFRASER