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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release May 31, 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 d a i l y f i g u r e s of member bank r e s e r v e s f o r t h e week endi n g May 29 d e c r e a s e d #202 m i l l i o n t o $18,616 m i l l i o n . E s t i m a t e d r e q u i r e d r e s e r v e s d e c r e a s e d $21 m i l l i o n ; and e s t i m a t e d e x c e s s r e s e r v e s d e c r e a s e d $181 m i l l i o n t o $311 m i l l i o n . Member bank borrowings a t t h e F e d e r a l Reserve Banks exceeded excess r e s e r v e s by $572 m i l l i o n , compared w i t h $280 m i l l i o n t h e week b e f o r e . The p r i n c i p a l changes r e d u c i n g a v e r a g e r e s e r v e s were a d e c r e a s e of $362 m i l l i o n i n F e d e r a l Reserve f l o a t , and i n c r e a s e s of $37 m i l l i o n i n T r e a s u r y d e p o s i t s w i t h F e d e r a l Reserve Banks and $15 m i l l i o n i n money i n c i r c u l a t i o n . The p r i n c i p a l o f f s e t t i n g changes were i n c r e a s e s of $111 m i l l i o n i n member bank borrowi n g s , $86 m i l l i o n i n gold s t o c k , and $15 m i l l i o n i n F e d e r a l Reserve h o l d i n g s of U. S. Government s e c u r i t i e s . T o t a l Reserve Bank c r e d i t d e c r e a s e d $237 m i l l i o n . As of Wednesday, May 29, h o l d i n g s of U. S . Government s e c u r i t i e s bought o u t r i g h t were $55 m i l l i o n h i g h e r t h a n a week e a r l i e r , U. S. Government s e c u r i t i e s h e l d under r e p u r c h a s e agreement were $63 m i l l i o n h i g h e r , and member bank borrowi n g s were $29U m i l l i o n h i g h e r . Reserve Bank c r e d i t , and r e l a t e d items Reserve Bank c r e d i t : U. S. Government s e c u r i t i e s — Bought o u t r i g h t — S y s t e m a c c o u n t Held under r e p u r c h a s e agreement Acceptances—bought o u t r i g h t Loans, d i s c o u n t s , and advances— Member bank borrowings Other Float T o t a l Reserve Bank c r e d i t Gold s t o c k Treasury currency outstanding Money i n c i r c u l a t i o n T r e a s u r y cash h o l d i n g s T r e a s u r y d e p o s i t s w i t h F . R. Banks F o r e i g n d e p o s i t s w i t h F . R. Banks Other d e p o s i t s w i t h F . R. Banks Other F . R. a c c o u n t s ( n e t ) Member bank r e s e r v e s - Required r e s e r v e s ( e s t i m a t e d ) Excess r e s e r v e s ( e s t i m a t e d ) Averages of d a i l y f i g u r e s For week ending Change from week ending May 22, 1957 1 May 30, 1956 May 29, 1957 ( I n m i l l i o n s of d o l l a r s ) 22,901 29 20 883 21 979 24,033 22,406 5,102 52,341 - lU + 29 +111 •mm* -362 -237 -458 - 24 h + +151 + 20 +144 + 86 + h -U*7 +635 30,660 7 9h 562 358 279 1,073 +15 + h +333 + 9 + 55 + 61 - h9 18,616 18,305 311 -202 - 2i + 37 - u + 6 mm mm + 56 -181 + 70 +5W + 89 +497 + b7 + 78 - 31 For Wednesday F e d e r a l Reserve f i g u r e s see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - a t t a c h e d . L a t e s t Wednesday f i g u r e s f o r o t h e r items a p p e a r i n g above a r e , i n m i l l i o n s of d o l l a r s : Gold s t o c k 22,620 Treasury cash holdings 797 T r e a s u r y c u r r e n c y o u t s t a n d i n g 5,103 Member bank) - Required ( e s t . ) 18,443 Money i n c i r c u l a t i o n 30,818 r e s e r v e s ) - Excess (est.) 242 On May 29, 1957, U. S. Government s e c u r i t i e s h e l d i n custody by t h e F e d e r a l Reserve Banks f o r f o r e i g n a c c o u n t were $3,6llj. m i l l i o n , a d e c r e a s e of $lj8 m i l l i o n f o r t h e week and a d e c r e a s e of $llt7 m i l l i o n from t h e comparable d a t e a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED ( I n thousands of d o l l a r s ) Change s i n c e May 30, May 22, 1956 1957 May 29, 1957 ASS E T S c e r t i f i c a t e account Gold Redemption f u n d f o r F . R. n o t e s T o t a l gold c e r t i f i c a t e r e s e r v e s F . R. n o t e s of o t h e r Banks Other c a s h D i s c o u n t s and advances I n d u s t r i a l loans Acceptances—"bought o u t r i g h t U. S. Government s e c u r i t i e s : Bought o u t r i g h t — Bills Certificates Notes Bonds T o t a l bought o u t r i g h t Held under r e p u r c h a s e agreement T o t a l U. S. Government s e c u r i t i e s 21,089,392 299,999 21,932,054 297,979 52,51*8 23,91k 294,399 lb 999 31$,m 332,926 963,7k! 748 20,719 214,763 11,362,199 8,571,413 2,801,750 22,950,125 + + + 54,663 + 182 4,280 + 257,207 429,500 - 582,500 + + +" - 410,207 63,200 + 28,300 117,863 - 301,907 23,998,533 22 4,757,915 78,193 190,431 51,605,667 + 413,275 + - 481,684 + + U,720 165,m + 537,424 + 11,571 4,585 +1,447,934 26,472,513 + 158,742 + 63,200 23,013,325 T o t a l l o a n s and s e c u r i t i e s Due from f o r e i g n banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS +- 839,404 7,803 + 047,207 + 66,240 23,165 + 391,051 2,020 + 812,662 L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U. S. T r e a s u r e r — g e n e r a l a c c o u n t Foreign Other Total deposits D e f e r r e d a v a i l a b i l i t y c a s h items Other l i a b i l i t i e s and a c c r u e d d i v i d e n d s TOTAL LIABILITIES 18,684,731 487,273 363,963 282,732 19,818,699 3,y73,690 20,425 56,285132? C A P I T A L ACCOUNTS Capital paid in S u r p l u s ( S e c t i o n 7) S u r p l u s ( S e c t i o n 13b) Other c a p i t a l a c c o u n t s TOTAL LIABILITIES AND CAPITAL ACCOUNTS 332,111 747,593 27,543 213,093 51,605,667 R a t i o of gold c e r t i f i c a t e r e s e r v e s t o d e p o s i t and F . R. n o t e l i a b i l i t i e s combined C o n t i n g e n t l i a b i l i t y on a c c e p t a n c e s purchased f o r foreign correspondents I n d u s t r i a l l o a n commitments + 54,663 960 13,242 360,793 191,226 + 470,097 53,071 30,347 + + 68,429 10,756 594 + 171,041 + + 175,912 1,231 155,log 80 + + 10,606 165,7# *3% 47*42 1,237 14 59,819 1,820 - 209,585 +' 382,bl2 + 609,116 « 36l +1,351,560 + + 17,416 53,981 + 24,977 +1,447,934 + + - 1,1% 14,049 646 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 29. 1957 (Acceptances and s e c u r i t i e s h e l d under r e p u r c h a s e agreement a r e c l a s s i f i e d a s maturing w i t h i n 15 days i n accordance w i t h maximum m a t u r i t y of t h e a g r e e m e n t s . ) Within 15 days l 6 days t o 90 days 91 days t o 1 y e a r Over 1 y e a r t o 5 y e a r s Over 5 y e a r s t o 10 y e a r s Over 10 y e a r s Total D i s c o u n t s and advances 953,544 " 10,197 Industrial loans 362 39 146 Acceptances 6,749 13,970 201 963,741 W 20,719 U. S. Government securities 118,613 8,016,915 12,088,540 360,786 1,013,614 1,414,857 23,013,325 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MY 2 9 . 1957 St. P h i l a - Cleve- Richmond A t l a n t a Chicago New York Boston Louis land delphia ( I n thousands of d o l l a r s ) 3.4.1(b) Total A S S E T S 3old c e r t i f i c a t e a c c o u n t Redemption f u n d f o r F . R. n o t e s f o t a l gold c e r t i f i c a t e reserves 21,089,392 1011,047 842,662 54,815 2 1 , 9 3 2 , 0 5 4 1065,862 5 , 7 7 3 , 0 3 5 1127,241 1964,797 1322,080 174,504 59,394 74.335 68,575 5 , 9 4 7 , 5 3 9 1186,635 2039,132 1390,655 San Francisco Minneapolis Kansas City Dallas 841,255 347,192 823,296 742,900 2465,198 152,195 42,745 22,603 40,720 866,253 4006,533 884,000 369,795 864,016 817,013 3854,338 49.240 25,465 78,071 768,365 2543,269 ?.R. n o t e s of o t h e r Banks Dther c a s h 315,593 332,926 12,891 59,477 65,250 20,768 16,822 24,202 35,020 17,073 18,669 74,613 29,434 26,966 49,970 7,712 19,397 10,676 9,256 6,269 10,215 32,957 16,171 21,989 39,506 Discounts and advances I n d u s t r i a l loans Acceptances— Bought o u t r i g h t J . S. Govt, s e c u r i t i e s : Btiught o u t r i g h t - Bills Certificates Notes Bonds Total Held under r e p u r c h a s e agreement 963,741 748 72,764 327 143,225 120,192 84,907 73,721 69,350 162,605 12,815 45,650 33 83,882 30,840 63,790 13,722 11,124 37,487 18,864 12,536 53,708 11,715 214,763 725,965 588,528 1983,283 998,033 1 1 , 3 6 2 , 1 9 9 619,763 2 , 8 4 1 , 4 7 0 663,246 8 , 5 7 1 , 4 1 3 467,536 2 , 1 4 3 , 5 4 8 500,339 752,896 547,653 443,974 1496,149 2 . 8 0 1 . 7 5 0 152,824, 700,664 163,547.. 246,100- 17QrQ12 145.122 489.048 2 2 , 9 5 0 , 1 2 5 1251,838 5 , 7 3 9 , 3 9 0 1339,668 2015,893 1466,352 1188,748 4005,967 8,881 469,884 354,471 115,866 949,102 4,635 245,196 184,971 60.462 495,264 9,221 487,813 367,996 120.288 985,318 8,416 24,454 445,273 1293,745 335,905 975,975 109.798 319,019 899,392 2613,193 23,216 388 — 20,719 20,719 63,200 Dotal U. S . Govt, s e e s . 2 3 , 0 1 3 , 3 2 5 1251,838 5 . 8 0 2 . 5 9 0 1339.668 2015.893 1466.352 1188.748 4005.967 949,102 495,264 985,318 899,392 2613,193 Dotal l o a n s & s e c u r i t i e s 2 3 , 9 9 8 , 5 3 3 1324,929 5 , 9 6 6 , 5 3 4 1460,248 2100,800 1540,073 1258,098 4168,572 961,917 540,947 1069,200 930,232 2676,983 1 180,027 5,261 7,644 1 114,649 5,219 4,054 1 2 238,944 477,011 4,873 10,596 8,253 21,725 )ue f r o m f o r e i g n banks J n c o l l e c t e d c a s h items Bank p r e m i s e s )ther a s s e t s TOTAL ASSETS 22 4,757,915 78,193 190,431 1 361,388 5,217 10,236 1/ 6 850,447 9,872 46.211 2 323,593 4,670 10.811 2 482,595 8,679 16.891 1 368,096 5,374 9.811 3 772,183 6,497 34,672 1 223,528 4,727 7,971 5 1 , 6 0 5 , 6 6 7 2803,740 12,945,336 3023,549 4707,321 3351,285 2611,680 9065,396 2065,959 1054,597 2185,927 1999,796 5791,081 . / A f t e r d e d u c t i n g $16,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. 1 365,454 7,208 12,152 H.4.1(c) Total L I A B I L I T I E S F e d e r a l Reserve n o t e s Deposits: Member bank r e s e r v e s U.S.Treas.-gen.acct. Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 29, 1957 ClevePhilaSt. Richmond A t l a n t a Chicago Boston New York d e l p h i a land Louis ( I n t h o u s a n d s of d o l l a r s ) 2 6 , 4 7 2 , 5 1 3 1572,507 18,684,731 487,273 363,963 282,732 6,256,099 1695,489 2495,293 2 0 8 2 , 3 4 7 786,598 5,283,078 899,256 1612,650 31,388 34,724 4o,8o8 29,193 20,880 1/ 105,123 25,200 32,400 176 228.160 9.595 988 313,604 671,933 260,186 1.096 5.461 967 929,280 2985,677 651,755 409,029 45,358 83,920 23,841 26,282 18,360 16,200 51,120 13,320 8,640 818,248 50,335 1.526 1.567 1.288 189 112 416,334 307,315 317,438 630,447 146,054 96,846 2.212 1.049 1.0Q0 1.274 19,818,699 839,242 5,651,085 974,859 1675,231 890,469 992,405 3122,005 689,305 444,283 3,973,690 20.425 50,285,327 Kansas City Dallas San Francisco 1239,285 5118,620 1178,684 479,528 1057,501 678,394 2618,766 2726,449 12,584,578 2931,501 4589,090 3281,180 2550,218 8874,346 666 582 2014,709 1021,239 CAPITAL ACCOUNTS Capital paid in 17,106 21,071 3 1 , 9 7 6 1 5 , 2 7 0 16,071 4 5 , 3 3 1 11,344 332,111 95,169 S u r p l u s ( S e c t i o n 7) 208,002 52,301 6 6 , 3 9 3 3 7 , 5 9 4 3 3 , 1 7 9 110,421 2 9 , 3 3 1 43,948 747,593 S u r p l u s ( S e c t i o n 13b) 1,006 4,489 3,011 762 1,429 521 3,349 27,543 7,319 Other c a p i t a l accounts 18.856 11-802 11,450 31,869 1 0 , 0 5 4 14.187 11.226 50.268 213.093 TOTAL LIABILITIES AND 5 1 , 6 0 5 , 6 6 7 2 8 0 3 , 7 4 0 1 2 , 9 4 5 , 3 3 6 3023,549 4 7 0 7 , 3 2 1 3351.285 2 6 1 1 , 6 8 0 9065,396 2 0 6 5 , 9 5 9 CAPITAL ACCOUNTS C o n t i n g . l i a b . on a c c e p t ances purchased f o r 8,491 3,050 2,691 3,468 2/ 16,823 4,186 5,382 2,213 foreign correspondents 59,819 84 1,820 32 56 I n d u s t r i a l l o a n commit. FEDERAL RESERVE AGENTS' ACCOUNTS F . R. n o t e s o u t s t a n d i n g 2 7 , 3 7 0 , 7 7 1 1607,530 6,436,605 1776,175 2565,693 2144,946 1299,515 5216,564 1229,904 C o l l a t . f o r F . R. n o t e s : Gold c e r t i f i c a t e a c c t . 11,798,000 580,000 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 118,792 — ---12,075 E l i g i b l e paper 213,989 U. S . Govt, s e c u r i t i e s 17.005.000 1150.000 1.600.000 1200.000 1500.000 1110.000 1000.000 1100.000 875.000 Total collateral 29.016.989 1710.000 6.770.000 1958.792 2610.000 2225.000 1400.000 5400.000 1117.075 1 / A f t e r d e d u c t i n g $ 2 5 8 , 8 4 0 , 0 0 0 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks, 2 / A f t e r d e d u c t i n g $ 4 2 , 9 9 6 , 0 0 0 p a r t i c i p a t i o n s of o t h e r F e d e r a l R e s e r v e Banks Minneapolis 7,300 18,520 1,073 6.465 1054,597 828,962 42,071 13,680 -540 2.579 11.192 189,746 205,425 418,362 2133,291 -Z21 1,096 1933,123 13,437 18,622 1,137 10,079 37,508 1,307 9,236, 27,983 2,119. 5645,603 39,414 82,413 2,l40 2185,927 1999,796 5791.081 2,272 532,922 1084,332 425.000 555.000 47,064 885,253 1048,206 2606,356 1,435 130,000 2500,355 32,289 18,720 40,320 979,843 1,648 3,110 -- 6,698 -- 7 3 5 , 1 8 7 2741,398 300,000 283,000 1500,000 83,122 820.000 1201.122 525.000 1500.000 808.000 1000.000
@FedFRASER