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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 2, 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 May 1 decreased $201 million to $19,000 million. Estimated require*reserves decreased $8 million; and estimated excess reserves decreased $193 million to $406 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $298 million, compared with $323 million the week before. The principal changes reducing average reserves were decreases of $316 million in Federal Reserve float, $218 million in member bank borrowings, and $68 million in U. S. Government securities held under repurchase agreement. The principal offsetting changes were decreases of $163 million in "other deposits with Federal Reserve Bank* $111 million in money in circulation, $54 million in "other" F. R.- accounts (net), $38 million in foreign deposits with Federal Reserve Banks, and $37 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $602 million. As of Wednesday, May 1, holdings of U. S. Government securities and those held under repurchase agreement were unchanged from a week earlier and member bank borrowings were $422 million higher. 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 advancesMember bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Averages of daily figures Change from week ending For week ending Apr. 24, T957 I May 2, 19 5^ May 1, 1957 (in millions of dollars) 23,169 - 68 25 704 27 1,168 25,093 22,318 5,094 52,504 - 74 - 56 + 11 -600 -385 + 26 +304 -173 +575 + 71 +472 -111 +318 -218 + 1 -316 -602 + + 1 2 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) 30,499 j 791kz"7 419 352 291 1,148 33,504 + 3 - 37 - 38 -163 - 54 ^ioo + Member bank reservesRequired reserves (estimated) Excess reserves (estimated) 19,000 -201 +233 +235 x5t595 4o6 - 8 -193 8 -156 + 14 - 94 +150 +240 - 2 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 22,318 Treasury cash holdings 803 Treasury currency outstanding 5,094 Member bank) - Required (est.) 18,628 Money in circulation 30,510 reserves ) - Excess (est.) 495 On May 1, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,687 million, a decrease of $74 million for the week and a decrease of $40 million from the comparable Digitized date for FRASER a year ago. H.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) May 1, 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 Change since May 2, 1956 1957 Apr. W, 2 1 1 37,101 3,649 421,781 1 1,175 20,779,393 21,634,027 398,222 392,949 1,095,490 774 23,735 23,169,467 194,919 + 9,830 + + - 70,635 429,500 582,500 - 82^365 129,850 212,215 167 420,605 7,633 5,211,373 76,538 140,013 52.143,410 16,969 87 + 11,947 374,747 + 563,546 + 11,137 21,774 +1,243,990 26,327,132 + 654 + 364,733 19,122,617 598,508 311,438 293,308 + 250,803 + 270,072 + + 461,634 13,255 + + + 76,399 ... 330 444,806 40,556 1,529 + + 81,195 370,370 424,095 20,325,871 4,195,918 17,901 50,866,822 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 + 24,289,466 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 573,404 14,179 557,563 + 102,568 + 8,563 434,105 11,362,199 8,571,413 2,801,750 23,169,467 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + + + 331,514 747,593 27,543 169,938 52,143,410 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - + 484,487 107 + 109,847 374,747 46.4% .4% 64,136 1,798 42 164 23,316 768 +1,158,430 + + 17,714 53,981 + 13,857 +1,243,990 + 21,218 661 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 1, 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 1,062,070 33,420 Industrial loans 44 374 145 Acceptances 11,388 12,347 360,786 211 1,095,490 77% U. S. Government securities 135,455 298,650 19,946,105 23,735 1,013,614 1,414,857 23,169,467 H.4.1(b) Total 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. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 1, 1957 St. PhilaIRichmond Atlanta Chicago New York Boston Louis delphla land. 1 (In thousands of dollars) San Francisco Minneapolis Kansas City Dallas 842,451 324,953 874,987 738,338 2472,040 153,356 43,050 22,708 40,999 834,426 3733,447 885,501 347,661 915,986 20,779,393 943,463 5,839,818 1161,285 855,434 55,466 177,299 60,517 21,634,827 998,929 398,222 392,949 23,144 29,597 72,959 88,032 30,268 21,010 33,485 38,342 19,205 19,397 88,284 32,874 32,297 52,409 8,398 22,614 13,226 11,857 5,188 11,870 39,522 16,628 32,246 48,319 1,095,490 774 38,360 327 277,175 38,120 412 104,160 37,025 58,275 335,280 12,570 70,485 35 47,440 22,450 54,150 -- -- - - - - 23,735 -- 1880,307 1337,028 75,409 72,408 6,017,117 1221,802 1955,716 1409,436 23,735 ~ 784,632 3580,091 49.794 18,638 25.678 78.750 764,016 2550,790 108,561 25,339 38,131 27,737 22,485 75,774 17,952 434,105 23,679 11,362,199 619,763 2,841,470 663,246 998,033 725,965 588,528 1983,283 469,884 8,571,413 467,536 2,143,548 500,339 752,896 547,653 443,974 1496,149 354,471 v 700.664 163.547 246.100 179,012 145.122 489.048 115.866 2.801.750 «— f W-*- t I 7152.824 23,169,467 1263,802 5,794,243 1352,471 2035,160 1480,367 1200,109 4044,254 958,173 9,368 245,196 184,971 60.462 499,997 994,735 17,012 49,429 445,273 1293,745 335,905 975,975 109.798 319,019 907,988 2638,168 487,813 367,996 120.288 Total U. S. Govt, sees. 23,169,467 1263.802 5.794.243 1352.471 2035.160 1480.367 1200,109 4044.254 958.173 499.997 994.735 907.988 2638.168 Total loans & securities 24,289,466 1302,489 6,095,153 1391,003 2139,320 1517,392 1258,384 4379,534 970,743 570,517 1042,175 930,438 2692,318 Due from foreign "banks Uncollected cash items Bank premises Other assets 22 5,211,373 76,538 140,013 TOTAL ASSETS 52,1^3,410 1 427,174 5,251 7,465 1/ 6 943,379 9,721 33,379 2794,050 13,259,746 2 321,780 4,692 7.858 2 475,389 8,527 12,404 1 453,858 5,334 7.189 1 3 870,180 201,008 5,025 5,819 5,567 26,536 2998,415 4663,185 3373,432 2680,350 9100,225 l/ After deducting $16,000 participations of other Federal Reserve Banks. 1 392,029 7,230 8,742 2098,857 1 120,659 4,927 2,981 1 224,096 4,677 5.847 1 250,511 4,687 6,107 2 531,310 10,648 15,938 1071,829 2209,840 2011,910 5881,571 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 26,327,132 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH M Y 1, 1957 St. ClevePhilaRichmond Atlanta Chicago Louis ITew York delphia Boston land (In thousands of dollars) 1558,417 6,194,746 1684,533 2484,582 5,542,961 912,232 1592,348 841,601 45,626 28,216 53,172 152,670 15,555 21,350 27,450 1/ 92,143 4.556 10.541 1.609 228.224 907,338 6,015,998 972,341 1674,579 Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 927,744 3043,187 679,094 26,419 43,688 57,080 11,285 13,725 43,310 605 1.348 1.253 986,505 3144,830 717,403 311,438 293.308 20,325,871 4,195,918 365,147 694,937 251,293 387,324 314,432 382,497 17,901 996 4,402 871 2,186 801 913 3,428 597 331,514 747,593 27,543 169,938 17,127 43,948 3,011 11,004 95,106 20,980 31,961 66,393 1,006 15,154 15,197 37,594 3,349 11,234 15,985 33,179 762 9,384 45,293 110,421 1,429 25,865 11,346 29,331 521 8,426 52,143,410 2794,050 13,259,746 2998,415 4663,185 3373,432 2680,350 9100,225 2098,857 598,508 Kansas City Dallas San Francisco 1251,125 5092,145 1176,138 481,831 1053,794 679,867 2586,467 743,341 32,902 17,690 467 794,400 19,122,617 415,037 30,599 7,320 304 453,260 863,029 996,186 2565,857 42,399 28,633 57,104 11,590 15,860 34,160 3,158 3,653 37,588 920,176 1044,332 2694,709 676,814 155,095 103,661 184,627 222,061 458,030 696 652 695 1,664 1039,448 2159,249 1946,955 5740,570 50,866,822 2718,960 12,910,083 2909,038 4548,671 3306,058 2621,040 8917,217 2049,233 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2083,48? Minneapolis 64,136 1,798 3,724 208,002 7,319 39,236 2/ 17,976 52,301 4,489 11,607 3,274 2,889 5,778 4,494 9 FEDERAL RESERVE AGENTS' ACCOUNTS 9,117 85 2,375 7,278 18,520 13,313 27,983 18,488 37,508 82,413 5,510 8,158 7,652 16,708 1,073 1,137 1,307 39,440 2,l4o 1071,829 2209,840 2011,910 5881,571 1,541 2,440 1,648 3,338 7,190 1606,183 6,441,206 1786,904 2567,622 2143,047 1316,241 5198,519 1221,493 536,654 1080,482 730,170 2733,214 27,361,735 F. R. notes outstanding Collat. for F. R. notes: 580 000 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 130,000 300,000 283,000 1500,000 Gold certificate acct. 11,798,000 % 36,370 — — -11,645 -46,490 94,505 Eligible paper nsn'nnn 1 600.000 1200.000 1500,000 1310,000 1000,000 3100,000 875,000 460,000 8 2 0 , 0 0 0 525,000 1500,000 17,040,000 U. S. Govt, securities ^ JL dJL 1 r2 -—-~r—— ' ' I „ n,r- rmn n c c l.on onnn nnn rnotooo~6'.no.ooo 1876!no 2610.000 2225.000 i 4 o o . o o o 5400.000 1116.645 590,000 1166,490 808,000nnn3000,000, 28,932,505 Total collateral l/ After deducting $219,295,000 participations of other Federal Reserve Banks 2/ After deducting $46,160,000 participations of other Federal Reserve Banks
@FedFRASER