H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4,1 OF THE FEDERAL RESERVE SYSTEM January 3, 1957 WEEKLY AVERAGES OF MEMBER BAH RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of dally figures of member bank reserves for the week ending January 2 increased $66 million to $19,856 million. Estimated required reserves increased $16 million; and estimated excess reserves increased $50 million to $761 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $139 million; the week before they were $7 0million less than excess reserves. During the statement week, borrowings of member banks from the Reserve Banks fluctuated between a high of $1,492 million for the three days December 28-30 and a low of $25 million on December 31 when banks usually pay off borrowings in order to avoid showing borrowed money in their statements at the year end. The principal changes supplying average reserves were increases of $259 million in member bank borrowings and $88 million in Federal Reserve holdings of U. S» Government securities, and decreases of $240 million in Treasury deposits with Federal Reserve Banks, $163 million in money in circulation, and $51 million ^' accounts (net). The principal offsetting changes were a decrease of $671 million in Federal Reserve float and an increase of $77 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $318 million. As of Wednesday, January 2, U. S. Government securities held under repurchase agreement were $122 million lower than a week earlier an dmember bank borrowings were $279 million lower. Member bank reserves, Averages of dally figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 2, J 22 .D e.c . 26, 1956 1 Jan. 4, 1956 rr (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 24,610 + 36 +219 Held under repurchase agreement 384 + 52 - 10 Acceptances-- Bought outright 34 + 1 + 10 Held under repurchase agreement 34 + 7 + 31 Loans, discounts, and advances— Member bank borrowings 900 +259 +317 Other 26 - 1 + 24 Float 1,537 -671 - 2 Total Reserve Bank credit 27,524 -318 T5B8 Gold stock 21,949 mm +259 Treasury currency outstanding 5,066 mm #» + 58 -316 +90S Money in circulation 31,829 -163 +676 Treasury cash holdings 777 + 12 + 4 Treasury deposits with F, R. Banks 395 -240 + 39 Foreign deposits with F. R. Banks 374 - 19 - 64 Other deposits with F. R. Banks 335 + 77 -178 Other F. R. accounts (net) 973 + 34 34,684 -362 +513 Member bank reserves-- 19,856 + 66 ±392 Required reserves (estimated) 19,095 TTB +208 Excess reserves (estimated) 761 + 50 +184 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 21,949 Treasury cash holdings 785 Treasury currency outstanding 5,066 Member bank) - Required (est.) 19 147 Money in circulation 31,700 reserves ) - Excess (est.) '239 On January 2, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,854 million, a decrease of Digit$ize9d2 f orm FiRlAlSiEoR n for the week and an increase of $309 million from the comparable date http:/a/f rayseer.astrlo uaisfgeod..or g/ Federal Reserve Bank of St. Louis

B.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan. 2, Dec. 2 5 7— Jan. 4, 1957 1956 1956 A S S E TS Gold certificate account 20,374,391 - 20,001 + 233,038 Redemption fund for F. R. notes 894,950 + 19,998 + 27,109 Total gold certificate reserves 21,269,341 - 3 + 260,147 F. R. notes of other Banks 379,133 + 98,622 + 27,833 Other cash 308,549 + 31,440 - 23,293 Discounts and advances 370,444 - 279,280 - 27,286 Industrial loans 793 - 12 + 104 Acceptances: Bought outright 34,554 + 1,511 + 11,617 Held under repurchase agreement 23,734 - 5,185 + 22,619 U. S. Government securities: Bought outright-- Bills 1,721,270 + 218,574 Certificates 10,932,699 +5,012,000 Notes 9,153,913 -5,012,000 Bonds 2,801,750 Total bought outright 24,609,632 + 218,574 Held under repurchase agreement 209.000 - 121,600 - 63.100 Total U. S. Government securities 24,618,632 - 121,600 + 155,474 Total loans and securities 25,248,157 - 404,566 + 162,528 Due from foreign banks 22 Uncollected cash items 5,818,830 938,983 + 606,578 Bank premises 73,355 286 + 12,181 Other assets 255,839 ,11^42 + 88.162 TOTAL ASSETS 53,353,226 676,132 +1,134,136 L I A B I L I T I ES Federal™Reserve™notis™ ~ 27,427,168 - 169,168 + $89,411 Deposits: Member bank reserves 19,385,553 + 245,389 - 32,732 U. S. Treasurer-general account 376,884 - 155,844 + 111,535 iiigHl TOTAL LIABILITIES 52,140:789 + n PM *1,0$,M ESC A PEI TEALk A C C)O U N TS 11 : : sg Othercapital accounts 111!543 - 154.181 * i oo4 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,353.226 + 676.132 +1.130& Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44,5$ + .24, + .2<$> Contingent liability on acceptances purchased for foreign correspondents 50,257 + 507 + 16 Industrial loan commitments o •*££ . o* ' ir, * December 26 figure revised » _4 53- MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 2, 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 U. S. Government advances loans Acceptances securities Over 5 years to 10 years „„ __ __ , ill'ill DigitOizvede rfo r F1R0A SyEeRa rs __ __ V m i http://fraser.stlouisfed.org/ Federal Re T s°er t v a e l Ba n3k7 o0f S,t4. L4o4uis 793 5K#3B 2h[&l&[&32

H.4.l(b) STATEMENT OF CONDIT]C ON OF EACH FEDERA] RESERVE BANK ON JANUARY 2, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta |Chicago Dallas delphia land Louis apolis City Francisco (In thousands A S S E TS Gold certificate account 20,374,391 873,764 5,264,777 1140,868 1929,789 1345,778 894,610 3647,651 830,501 360,234 831,087 726,630 2528,702 Redemption fund for F. R. notes 894,950 57,026 198,738 63,053 77,869 71,140 51,173 161,000 43,812 22,952 4l,6l4 26,197 80,376 Total gold certificate reserves 21,269,341 930,790 5,463,515 1203,921 2007,658 1416,918 945,783 3808,651 874,313 383,186 872,701 752,827 2609,078 F.R. notes of other Banks 379,133 28,279 61,113 36,229 26,352 32,737 59,349 32,778 15,829 14,787 8,447 29,518 33,715 Other cash 308,549 21,053 62,595 14,182 21,589 19,452 23,201 48,771 23,724 9,529 12,658 15,097 36,698 Discounts and advances 370,444 3,600 29,570 5,380 20,025 36,725 63,307 120,400 28,525 21,580 23,932 12,275 5,125 Industrial loans 793 312 439 42 Acceptances: Bought outright 34,554 34,554 Held under rep. agree. 23,734 23,734 U. S. Govt, securities: Bought outright— Bills 1,721,270 94,611 433,205 103,432 148,878 105,978 88,507 300,313 71,863 38,879 74,582 68,410 192,612 Certificates 10,932,699 600,927 2,751,520 656,957 945,602 673,115 562,148 1907,450 456,440 246,937 473,714 434,509 1223,380 Notes 9,153,913 503,154 2,303,839 550,068 791,749 563,597 470,685 1597,102 382,176 206,759 396,639 363,813 1024,332 Bonds 2,801,750 154,001 705,139 168,360 242,332 172,501 144,063 488,827 116.973 63,283 121.400 111.353 313^518 Total 2^,609,632 1352,693 6,193,703 1478,817 2128,561 1515,191 1265,403 4293,692 1027,452 555,858 1066,335 978,085 2753,842 Held under rep. agree. 209,000 ***_ . ** «*» •»« #» — — «• — «. — Total U. S, Govt, sees. 24,818,632 1352,693 6,402,703 1478,817 2128,561 1515,191 1265,403 4293,692 1027,452 555,858 1066,335 978,085 2753,842 Total loans & securities 25,248,157 1356,605 6,490,561 1484,636 2148,586 1551,916 1328,710 4414,092 1055,977 577,480 1090,267 990,360 2758,967 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,818,830 482,338 1,089,358 380,778 522,843 480,630 498,630 872,679 233,030 146,209 276,385 295,396 540,554 Bank premises 73,355 5,361 9,397 4,782 7,805 7,220 4,687 5,882 4,443 4,719 4,340 3,970 10,749 Other assets 255,839 13,628 63,075 15,334 21,813 15,432 13,591 46,353 10,508 5,750 10,961 10,729 28,665 TOTAL ASSETS 53,353,226 2838,055 13,239,620 3139,864 4756,648 3524,306 2873,952 9229,209 2217,825 ll4l,66l 2275,760 2097,898 6018,428 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 2, 1957 Cleve- St. Minne- Kansas San Total Boston New York | delphla land Richmond Atlanta |Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES federal Reserve notes 27,427,168 1626,076 6,383,631 1753,932 2595,940 2176,407 1367,380 5268,640 1210,229 497,798 1074,152 725,067 2747,916 Deposits: Member bank reserves 19,385,553 778,759 5,455,586 982,174 1591,752 841,062 975,223 3085,115 733,517 460,563 895,325 1016,814 2569,663 U.S.Treas.-gen. acct. 376,884 31,994 51,054 22,440 27,573 33,532 28,340 47,435 26,439 20,427 13,845 26,951 46,854 Foreign 290,656 16,579 1/ 89,997 20,232 25,571 14,331 12,364 39,340 10,678 7,025 10,678 14,331 29,530 Other 321,816 468 253,344 9,870 2,525 5,655 1,388 1,232 1,460 1,534 1,703 3.769 38,868 Total deposits 20,374,909 827,800 5,849,981 1034,716 1647,421 894,580 1017,315 3173,122 772,094 489,549 921,551 1061,865 2664,915 Deferred availability cash items 4,321,734 311,751 667,606 264,801 403,161 388,804 432,558 612,963 187,758 122,543 231,521 248,068 450,200 Other liabilities and accrued dividends 16,978 6u 7I2 w5j, 5-»4-0> v/ 803 1,455 9y7 2i* -6 5u>97 33,92 8c5+\jj vv 1 557 690 y (j tu v5 7JL3, 460 1,312 3Lei TOTAL LIABILITIES 52,140,789 2766,299 12,906,758 3054,252 4647,977 3460,763 2817,912 9058,010 2170,638 1110,580 2227,797 2035,460 5884,343 CAPITAL ACCOUNTS Capital paid in 325,758 l6,8o4 93,993 20,629 31,119 14,821 15,525 44,433 11,085 7,186 13,029 18,020 39,114 Surplus (Section 7) 747,593 43,948 208,002 52,301 66,393 37,594 33,179 110,421 29,331 18,520 27,983 37,508 82,413 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 111,543 7,993 23,548 8,193 10,153 7,779 6,574 14,916 6,250 4,302 5,8l4 5,603 10,4l8 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,353,226 2838,055 13,239,620 3139,864 4756,648 3524,306 2873,952 9229,209 2217,825 ll4l,66l 2275,760 2097,898 6018,428 Wonting, liab. on acceptances purchased for foreign correspondents 50,257 2,962 2/ 14,414 3,6l4 4,568 2,560 2,209 7,028 1,908 1,255 1,908 2,560 5,271 [ndustrial loan commit. 2,366 —— — — l6 121 101 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS r. R. notes outstanding 28,516,040 1676,425 6,651,389 1856,363 2662,531 2248,837 1436,894 .5403,196 1265,232 552,217 1105,449 771,288 2886,219 Zollat. for F. R. notes: Gold certificate acct. 11,618,000 580,000 2,870,000 660,000 1130,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 Eligible paper 54,137 — 3,580 -- -- -- -- 27,575 — 22,982 <*- U. S. Govt, securities 17,605,000 1200,000 3,900,000 1200,000 1550,000 1350,000 1000,000 3200,000 900,000 460,000 820,000 525,000 1500,000 Total collateral 29,277,137 1780,000 6,770,000 1663,580 2660,000 2295,000 1450,000 5500,000 13777575 610,000 1142,982 808,000 3000,000 l/ After deducting $200,634,000 participations of other Federal Reserve Banks, 1/ After deducting $35,843,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis