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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 23, 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 22 decreased $27 million to $l8,8l8 million. Estimated required reserves decreased $69 million; and estimated excess reserves increased $42 million to $492 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $280 million, compared with $499 million the week before. The principal changes reducing average reserves were decreases of $177 million in member bank borrowings and $168 million in Federal Reserve holdings of U. S. Government securities, and increases of $46 million in Treasury deposits with Federal Reserve Banks and $32 million in "other" deposits with Federal Reserve Banks. The principal offsetting change was an increase of $393 million in Federal Reserve float. Total Reserve Bank credit increased $39 million. As of Wednesday, May 22, holdings of U. S. Government securities bought outright were $113 million lower than a week earlier and member bank borrowings were $17 million lower. 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 Averages of daily figures Change from week ending For week ending May 15, 1957 I May 23, 1956 May 22, 1957 (In millions of dollars) 22,915 20 772 21 1,341 25,070 22,320 5,098 52,45S -118 - 50 - 4 -174 + 20 +202 -240 +550 +328 + 9 30,645 790 525 33,669 9 3 46 4 32 2 T5 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,818 18,326 - 27 - 69 362 hoif 492 - 10 + 6 -177 - 6 ±393 + 39 + 1 + 2 + 42 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) 273yf -285 + 42 + 10 +379 - 69 + 43 - 37 + 93 +3S9 51 42 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 22,320 Treasury cash holdings 796 Treasury currency outstanding 5,101 Member bank) - Required (est.) 18,315 Money in circulation 30,580 reserves ) - Excess (est.) 179 On May 22, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,662 million, an increase of $45 million for the week and a decrease of $91 million from the comparable date Digitizedaforyear FRASER ago. STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 23, May 15, 1956 1957 May 22, 1957 160,100 21,908 + + + + - 1,012 + 1 2^363 27352 6,607 5,388 20,789,393 844,682 21,634,075 368,141 356,840 669,342 734 19,720 40 - 151,070 429,500 112,855 11,362,199 8,571,413 22,895,462 - 112,855 - 22,895,462 - 112,855 23,585,258 - 135,815 - - 641,976 + 631,081 + - 13,037 765,529 + 10,552 8,195 892,485 59,897 + 326,772 22 5,239,599 77,233 178,711 51,439,879 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 582,500 1 i Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS + 368 26,313,771 18,493,505 517,620 353,207 283,326 19,647,658 4,149,602 19,194 50,130,225 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 539,406 9,744 549,150 70,929 16,132 45,622 193 4,985 332,031 747,593 27,543 202,487 51,439,879 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments - 275,191 + 41,365 + - 646,553 1,131 776,537 + 344,900 + 159,186 + 152,020 + 10,588 - 304,070 1 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 % -FT H.4.1(a) + + + + 117,935 41,125 26,460 557915 417,502 467 799,723 186 + + 17,369 53,981 10,822 + + 21,412 892,485 + 15,264 637 71,218 765,529 .2$ 47.1# 806 61,056 40 1.834 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 22, 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 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 640,700 28,642 Industrial loans 350 39 144 Acceptances 7,033 12,687 201 669,342 73% 19,720 U. S. Government securities 80,700 7,936,965 12,088,540 360,786 1,013,614 1.414,857 22,895,462 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE B A M OR MAY 22, 1957 St. PhilaC eV r J" Richmond Atlanta Chicago New York Boston Louis land I delphia (In thousands of dollars) B.4.lCb) Total A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves 20,789,393 982,065 844,682 54,914 21,634,075 1036,979 Minneapolis Kansas City 5,906,199 1134,161 1881,680 1267,778 786,186 3732,444 827,010 290,232 816,181 174,909 59,599 74,525 69,159 6,081,108 1193,760 1956,205 1336,937 49.337 Dallas San Francisco 679,866 2485,591 25.502 78.170 152.387 42.795 22.620 40.765 835,523 3884,831 869,805 312,852 856,946 9,985 12,414 10,345 9,060 11,173 38,207 14,880 28,058 44,050 45,140 29,190 F.R. notes of other Banks Other cash 368,141 356,840 16,350 26,116 71,312 71,427 25,841 17,964 26,802 20,205 82,037 54,359 21,206 Discounts and advances Industrial loans Acceptances—• Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total field under repurchase agreement 669,342 734 31,881 44,615 50,522 374 46,263 40,196 51,712 163,205 19,215 74,128 33 73,275 14,062 10,230 27,946 6,621 3,455 6,874 752,896 547,653 443,974 1496,149 354,471 184,971 367,996 6,274 18,230 445,273 1293,745 335,905 975,975 2011/091 1462,860 1185,916 3996,426 946,842 494,084 982,971 897,250 2606,969 327 11,362,199 8,571,413 2,801,750 22,095,462 19,823 31,234 19,720 19,720 160,100 34,263 27,870 705,368 2563,761 40,038 9,345 8,733 663,246 2,841,470 619,763 467,536 2,143,548 500,339 700,664 163,547 152,824 1248^856 5,725^720 1336^477 998,033 725,965 8,292 588,528 1983,283 469,884 245,196 487,813 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109,798 319,019 Total U. S. Govt, sees. 22,895,462 1248,856 5,725,720 1336,477 2011,091 1462,860 1185,916 3996,426 946,842 494,084 982,971 897,250 2606,969 Total loans & securities 23,585,258 1281,064 5,790,055 1387,373 2057,354 1503,056 1237,628 4159,631 966,057 568,245 1056,246 942,390 2636,159 1 126,576 1 248,329 1 271,496 515,980 3,814 7,415 7,823 20,246 Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 22 5,239,599 77,233 178,711 1 431,344 5,251 9,532 1/ 6 9307528 2 355,519 2 478,747 1 389,215 43,514 10,125 15,544 11,167 9,869 4,692 8,568 5,386 9,185 5,824 33,200 5,280 7,146 4,929 4,725 4,873 0 2 10,596 51,439,879 2806,637 12,997,819 2995,276 4577,485 3287,644 2618,851 9027,952 2091,254 1039,176 2193,895 1985,038 5818,852 l/ After deducting $16,000 participations of other Federal Reserve Banks, 7,240 1 3 1 417,857 862,234 211,774 1.4.1(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 )eferred availability cash items Dther liabilities and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH M Y 22, 1957 PhilaCleveSt. Boston New York Richmond Atlanta Chicago delphia land Louis (In thousands 6f dollars) 26,315,771 1560,526 6,207,799 1682,964 2490,198 2071,074 1241,419 5089,003 1172,611 18,493,505 517,620 773,438 51,934 5,353,422 44,318 869,302 1513,959 767,223 353,207 281426 19,62*7,658 268 846,172 222.480 5,718,901 10.621 1.4% 952,852 1583,500 3.535 836,153 4,149,602 322,155 20,532 1/ 98,681 48,149 24,780 36,251 31,860 47,341 18,054 Minneapolis Kansas City 481*309 1052,370 Dallas San Francisco 679,354 2585,11(4 913,418 2957,174 665,315 32,958 66,213 24,603 15,930 50,268 13,098 378,472 845,385 953,775 2502,622 30,933 34,173 40,638 60,109 8,496 13,452 18,408 39,648 1.581 1.314 1.188 3£Z_ 210 2.788 36.829 963,887 3074,969 704,204 418,283 893,920 1015,609 2639,208 707,769 267,078 384,483 310,136 351,664 671,456 163,003 105,912 194,755 222,762 448,429 1,043 5.270 995 1.952 887 946 3.439 593 679 1.039 1.782 19,194 _562_ 50,130,225 2729,896 12,639,739 2903,889 4460,133 3218,250 2557,916 8838,867 2040,411 1006,073 2141,724 1918,764 5674,563 CAPITAL ACCOUNTS Japital paid in Surplus (Section 7) Surplus (Section ljb) Dther capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS onting. liab. on acceptances purchased for foreign correspondents [ndustrial loan commit. 332,031 747,593 27,543 202,487 17,103 95,167 21,069 31,976 15,217 16,068 45,330 11,343 43,948 208,002 52,301 66,393 37,594 33,179 110,421 29,331 12,679 47,592 13.528 17,977 13.234 10.926 31.905 9.648 3,011 4,489 1,006 3,349 762 1,429 521 13,436 27,983 1,137 9.615 18,621 37,508 1,507 8.838 39,414 82,413 2,140 20.322 2806.637 1 2 . 9 9 7 . 8 1 9 2995.276 4577.485 3287.61i4 2618.851 9027.952 2091.254 1039.176 2193.895 1985.038 5818.859 61,056 l,8?4 5,544 2/ 17,125 R. notes outstanding 27,294,017 1595,765 Jollat. for F. R. notes: Gold certificate acct. 11,798,000 580,000 Eligible paper 134,112 — 17,040,000 1150,000 U. S. Govt, securities Total collateral 28,972,112 1730,000 l/ After deducting $ 2 5 4 , 5 2 6 , 0 0 0 participations [/ After deducting $ 45,951,000 participations 7,319 7,287 18,520 1,073 6.223 3,116 2,750 8,676 2,261 1,466 2,322 5,499 3,177 6,843 84 1.648 5L FEDERAL RESERVE AGENTS' ACCOUNTS 6,1442,219 1779,542 2561,930 2157,455 1506,284 5182,796 1225,255 555,706 1077,595 751,667 2722,009 3*170,000 — 640,000 1130,000 915,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 43,122 — -- — — 18,475 — 72,515 820.000 590.000 1192.515 3,600,000 1200,000 1500.000 1310.000 1000.000 3100.000 875.000 4 6 0 . 0 0 0 6 , 7 7 0 , 0 0 0 1883,122 2630,000 2225.000 1400.000 5400,000 1343.475 of other Federal Reserve Banks. of other Federal Reserve Banks. 525.000 1500.000 808.000 3000.000
@FedFRASER