H.4.1 BOARD OF idVtitiNORS For Immediate Release

Of THE FEDERAL RESERVE SYSTEM August 1, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE B A H CREDIT, AM) RELATED ITEMS

and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS

The average of daily figures of member bank reserves for the week ending July 31 decreased $304 million to $18,88$ million. Estimated required reserves decreased $89 million; and estimated excess reserves decreased $215 million to $352 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $201 million, compared with $172 million the week before.

The principal changes reducing average reserves were decreases of $353 million in Federal Reserve float, $186 million in member bank borrowings, and $151 million in U, S. Government securities bought outright. The principal off-setting changes were an increase of $169 million in U. S. Government securities held under repurchase agreement, and decreases of $109 million in "other" F. R. accounts (net) and $90 million in money in circulation. Total Reserve Bank credit decreased $524 million.

As of Wednesday, July 31, holdings of U. S. Government securities bought outright were $106 million lower than a week earlier and member bank borrowings were $14 million higher.

Member bank reserves, Reserve Bank credit, and related items

Reserve Bank credit; U. S. Government securities Bought outrightSystem 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)

For week ending July 31, 1957

(I

Averages of daily figures Change from week ending

July 24, 1957 I Aug. 1, 195b In millions of dollars)

23,084 -151 -334 276 +169 +276

21 - 2 + 3

553 -186 -137 1

998 -353 - 48 25^932" -524 -240 22,626 + 1 +797

5,110 + 2 + 76 52,668 -522 +633

30, - 90 +334 773T"6* - 3 - 1 494 - 13 - 25 370 - 15 + 86 278 + 11 + 5 961 -109 - 60

33,783 -218 +339 18,885 -304 +294 18,533 - 89 +4l8

352 -215 -124

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*7 Treasury cash holdings 7#f ' ' Treasury currency outstanding 5,112*/ Member bank) - Required (est.) 18,561 Money in circulation 30,989"S3 reserves ) - Excess (est.) 69

On July 31# 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,730 million, an increase of $3 million for the week and an increase of $51 million from the comparable date a year ago. Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED

(In thousands of dollars)

Gold A S S

certificate E T S account

Redemption fund for F. R. notes Total gold certificate reserves

F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptancesbought outright 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 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

July 31, 1957

21,105,392 840,758

21,946,150 384,176 386,694 420,262

608 19,431

343,563 11,362,199 8,571,413

23,795,026 22 4,872,763

80,425 288,187

51.753.4H

Change July 24,

1957

since

+ + +

18,630,266 504,451 364,113 296,158

19,794,988 3,976,349

, 13,925 50,456,758

9,998 1,828 12,660 9,872 14,386

48 2,110

- 106,016

Aug, 1, 1956

+ 809,001 - 14,023 + 79C975 + 48,736 - 10,456

1,823 353

+ 2,318

- 185,807 + 429,500 - 582,500

23,078,925 275,800

- 106,016 - 338,807 + 275,800

23,354,725 - 106,016 - 63,007

+ + +

62,865

+ 281,507 + 10,740

... + 86,184 12,099 +1,148,824

93,692 63,122

63 13,026

26,671,496 + 12,218 + 307,518 129,166 + 35,016 - 18,891

- 9^289 + 182,360 106 + 100,193

+ 307,973 401

+ 69,363 + 2 9 ^ + 406,230 + 345,856 + 22 +1,059,626

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 Ratio of gold certificate reserves to deposit

and F. R. note liabilities combined Contingent liability on acceptances purchased

for foreign correspondents Industrial loan commitments

337,634 747,593 27,543 183,915

51,753,443

+ 3,694

- 115,976 - 12,099

+ 20,166 + 53,981 + 15,0^1 +1,148,824

47.256 + .1# + 1,0# 70,148 1.795.

+ 2,827 48

+ 22,226

MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 31, 1957 (Acceptances and securities held under repurchase agreement are classified as

maturing within 15 days in accordance with maximum maturity of the agreements.) Discounts and Industrial

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

advances 409,852 10,410

420,262

loans 69 64

294 181

.535

Acceptances 7,848 11,583

19,431

U S. Government securities 8,188,965 6,869,510 5,506,993 680,635 750,375

1,358,247 23,354,725

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) Total

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JULY 31, 1957 Boston New York Phila-delphia

Cleve-land Richmond Atlanta Chicago

St. Louis

of dollars)

818,200 3856,440 852,655

48.558 150.693 42,331

Minne-apolis

Kansas City Dallas

San Francisco

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: Sought outright

Bills Certificates "Notes Bonds

Total Held under repurchase

agreement Total U. S. Govt, sees. !Dotal loans & securities Due from foreign banks Uncollected cash items Bank premises Other assets

TOTAL ASSETS

21,105,392 840,758

21,946,150 384,176 386,694 420,262 608 19,431

343,563 11,362,199 8,571,413 2,801,750 23,070,925

275,800 23.354,725 23,795,026

22 4,872,763

80,425 288.187

51,753,443

(In thousands

1002,759 5,684,717 1128,904 1915,961 1330,017 55.992 171.076 58.045 74.960 74.000

360,481 888,078 817,382 2449,798 22.484 40,362 25,187 77,070

1058,751 5,855,793 1186,949 1990,921 1404,017 866,758 4007,133 894,986 382,965 928,440 842,569 2526,868 31,028 26,261

31,575 327

18,740 619,763 467,536 152,824

71,287 87,275 65,375

19,431

85,919 2,841,470 2,143,548 700,664

44,301 22,846 46,755

251

20,054 663,246 500,339 163,547

22,587 24,494 71,347 27,476 9,045 36,604 20,347 31,437 58,133 20,855 45,019 36,435 31,970 67,310 6,730

21,821 8,464 25,423

30

7,353 11,913

18,951 14,643

34,486 47,916

40,770 15,750 7,150

30,178 21,952 17,795 59,969 14,208 998,033 725,965 588,528 1983,283 469,884 752,896 547,653 443,974 1496,149 354,471 246,100 179,012 145,122 489,048 115,866

7,414 14,750 13,464 39,120 245,196 487,813 445,273 1293,745 184,971 367,996 335,905 975,975 60,462 120,288 109,798 319,019

1258,863 5,771,601 1347,186 2027,207 1474,582 1195,419 4028,449 954,429 498,043 990,^7 904,440 2b27,59

-- 275,800 1258.863 6.047,401 1347,186 2027,207 1474,582 1195,419 4028,449 954,429 498,043 990,847 904,440 2627,859 1290,765 6,132,207 1394,192 2072,226 1511,017 1227,389 4095,759 961,159 523,496 1031,617 920,190 2635,009

1 1 / 6 2 2 1 1 3 1 369,916 8567916 299,067 423,735 355,786 354,411 845,842 193,177 5,150 10,339 4,625 9,171 7,149 5,622 6,476 5,553

15.388 72,677 16.424 25,381 18,073 14,805 51,682 11,654

1 1 1 2 117,680 307,917 257,602 490,714

5,119 4,761 5,448 11,012 6,141 12.151 11,726 32,085

2797,260 13,086,500 2968,406 4580,627 3340,884 2571,770 9092,504 2096,430 1065,687 2304,153 2071,130 5778,092

1/ After deducting $16,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 31, 1957

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 CAPITAL ACCOUNTS

^Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS

Conting. liab. on accept--ances purchased for foreign correspondents

Industrial loan commit.

Phila- Cleve- Chicago St. Minne- Kansas Dallas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco

26,671,496 18,630,266

504,451 364,113 296,158

19,794,900

3,976,349 13,925

50,456,758

337,634 747,593 27,543 183,915

51,753,443

70,148 1,795

1598,054 6,281,991 1693,212 2528,373 2101,043 1247,631 5174,426 1183,931 473,344 1061,521 696,426 2631,544 766,232 35,807 20,590

459 823,088 299,386

952

5,381,175 869,713 1492,597 813,062 888,786 2993,250 674,872 70,692 38,107 44,926 36,896 50,401 50,101 18,606

1/108,868 24,850 31,950 18,105 15,975 50,410 13,135 228,727 10,605 1,365 1,913 5,306 3,352 1,577

5,789,462 943,275 1570,838 869,976 960,468 3097,113 708,190

425,082 853,405 1015,332 2456,760 21,583 58,376 40,333 38,623 8,520 13,490 l8,46o 39,760

883 806 3,481 37,684 456,068 926,077 1077,606 2572,827

654,290 240,694 363,455 300,851 302,901 632,498 153,634 3,253 656 1 ,989 589 581 2 ,801 485

103,175 264,478 230,867 430,120 467 539 399 1,214

2721,480 12,728/996 2877,837 4464,655 3272,459 2511,581 890b,030 2046,240 1033,054 2252,615 2005,290 5635,705

17,171 99,404 21,116 32,120 15,350 16,180 45,649 11,385 7,323 13,579 18,823 39,534 43,948 208,002 52,301 66,393 37,594 33,179 110,421 29,331 18,520 27,983 37,508 82,413

3 ,011 7,319 4,489 1 ,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o 11,650 42,779 12,663 16,453 12,132 10,068 28,167 8,953 5,717 8,839 8,194 18,300

2797,260 13,086,500 2968,406 4580,627 3340,884 2571,770 9092,504 2096,430 1065,687 2304,153 2071,130 5778,092

4,072 2/19,674 4,914 52

6,318 13

3,580 3,159 9,969 2,597 1,685 2,668 3,650 7,862 82 1,648 " -

FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding Collat. for F. R. notes:

Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral

l/ After deducting $255, 2/ After deducting $50,

27,686,355 1655,050 580,000 1150,000

6,517,551 1770,807 2596,216 2165,709 1318,881 5279,839 1236,835 527,901 1092,194 745,245 2780,127

11,878,000 94,255

16,955,000

3,170,000 640,000 1130,000 895,000 400,000 2400,000 450,000 46,755 -- -- 6,730

3.600.000 1200,000 1550.000 1310,000 1000.000 3000.000 875.000 28,927.2551 1730,000

245,000 participations 474,000 participations

6[770|000 1886/755 2680.000 2205^000 l400l000 5400.000 1331.730" of other Federal Reserve Banks. of other Federal Reserve Banks.

130,000 300,000 283,000 1500,000 40,770 ~

425.000 820.000 52S.000 1500.000 555.000 1160.770 808.000 1000.000

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis