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 10, 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 January 9 decreased $155 million to $19,701 million. Estimated required reserves decreased $147 million; and estimated excess reserves decreased $8 million to $753 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $248 million; the week before they were $139 million less than member bank borrowings. The principal changes reducing average reserves were decreases of $395 million in member bank borrowings and $297 million in U, S. Government securities held under repurchase agreement. The principal offsetting changes were decreases of $350 million in money in circulation, $74 million in "other" F. R. accounts (net), $51 million in foreign deposits with Federal Reserve Banks, $48 million in "other" deposits with Federal Reserve Banks, and $43 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $715 million. As of Wednesday, January 9, holdings of U. S. Government securities bought outright were $4l million lower than a week earlier, U. S. Government securities held under repurchase agreement were $209 million lower, and member bank borrowings were $29 million lower. Member bank reserves, Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items JJaann.. 99,, 11995577 Jan. 2. 1957 Jan. 11, 1956 (In m;L llions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 24,601 - 9 +410 Held under repurchase agreement 87 -297 ~ 30 Acceptances-- Bought outright 35 +1 +12 Held under repurchase agreement 12 - 22 + 11 Loans, discounts, and advances-- Member bank borrowings 505 -395 -294 Other 30 +4 +28 Float 1,539 + _2 +297 Total Reserve Bank credit 26,809 -715 +434 Gold stock 21,949 -- +258 Treasury currency outstanding 5,066 — * + 58 53,824 ^7i5 +750 Money in circulation 31,479 -350 +565 Treasury cash holdings 783 +6 + 1 Treasury deposits with F. R. Banks 352 - 43 +108 Foreign deposits with F. R. Banks 323 - 51 -100 Other deposits with F. R. Banks 287 - 48 - 47 Other F. R. accounts (net) 899 - 74 - 24 34,123 ^551 +502 Member bank reserves— 19,701 -155 +248 Required reserves (estimated) 18,948 -147 +223 Excess reserves (estimated) 753 - 8 + 25 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 21,950 Treasury cash holdings 786 Treasury currency outstanding 5,066 Member bank) - Required (est.) 18,827 Money in circulation 31,270 reserves ) - Excess (est.) 406 On January 9, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,820 million, a decrease of Digitize$d 3fo4r FmRAiSlElRi on for the week and an increase of $191 million from the comparable date http://fraser.stlouisfed.org/ a year ago. Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED (In thousands of dollars) Change since Jan. 9, Jan. 2, Jsn« 11, 1957 1957 1956 A S S E TS Gold certificate account 20,389,393 + 15,002 + 248,043 Redemption fund for F. R. notes 879,951 - 14,999 15,258 Total gold certificate reserves 21,269,344 + 3 + 263,301 F. R. notes of other Banks 475,370 + 96,237 87,107 Other cash 379,265 + 70,716 • 1,193 Discounts and advances 346,093 - 24,351 - 460,169 Industrial loans 794 1 + 99 Acceptances: Bought outright 34,550 * 4 + 12,607 18,900 Held under repurchase agreement 4,834 - 4,480 U. S. Government securities; Bought outright— Bills 1,680,570 40,700 + 428,474 Certificates 10,932,699 — +5 ,012,000 Notes 9,153,913 -«• -5,012,000 Bonds 2,801,750 — - - Total bought outright 24,568,932 - 40,700 + 428,474 Held under repurchase agreement *• mm «* 209,000 - 37,100 Total U, S. Government securities 24,568,932 - 249,700 + 391,374 Total loans and securities 24,955,203 - 292,954 51,609 Due from foreign banks 22 Uncollected cash items 4,779,996 -1,038,834 + 259,665 Bank premises 73,432 + 77 + 12,190 Other assets 269,105 + 13,266 + 93,066 TOTAL ASSETS 52,201,737 -1,151,489 662,527 L I A B I L I T I ES Federal Reserve notes 2277,,116644,,993377 - 262,231 551,279 Deposits: Member bank reserves 19,232,848 - 152,705 + 97,460 U. S. Treasurer--general account 363,065 - 13,819 + 13,197 Foreign 327,376 + 36,720 - 130,936 Other 281,521 - 40,295 - 37,201 Total deposits 20,204,810 - 170,099 - 57,480 Deferred availability cash items 3,590,741 - 730,993 + 86,466 Other liabilities and accrued dividends 17,557 + 579 + 3,724 TOTAL LIABILITIES 50,978,045 -1,162,744 + 583,989 C A P I T AL A C C O U N TS Capital paid in 326,506 748 + 22,698 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 122,050 + 10,507 ,1,859 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,201,737 -1,151,489 662,527 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.9% .4$ .1# Contingent liability on acceptances purchased for foreign correspondents 53,601 3,344 + 20,660 Industrial loan commitments 2.364 2 + 1L MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 9, 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 Within 15 days 319,066 13 13,368 ^ 451,850 16 days to 90 days 2,027 61 26,016 6,740,720 91 days to 1 year 25,000 460 14,574,612 Over 1 year to 5 years 260 373,279 Over 5 years to 10 years 1,013,614 DigitizeOdv foerr F R1A0S EyR ears 1,414,857 http://fraser.stTlooutisfaeld. org/ 346,093 795 39,384 24,568,932 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON JANUARY 9, 1957 H.4.l(b) Total Boston New York Phila- Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s Minne- Kansas Dallas Fra S n a ci n s co (In thousands of dollars) A S S E TS 700,891 2574,245 Gold certificate account 20,389,393 910,008 5,575,133 1007,508 1875,987 1354,909 838,579 3607,399 798,150 349,277 797,307 Redemption fund for F. R. notes 879,951 57,026 183,738 63,053 77,869 71,140 51,173 161,000 43,812 22,952 41,614 26,197 80,377 T • o ta re l s e g r o v l e d s c ertificate 21,269,344 967,034 5,758,871 1070,561 1953,856 1426,049 889,752 3768,399 841,962 372,229 838,921 727,088 2654,622 F.R. notes of other Banks 475,370 36,109 82,039 45,302 33,607 38,789 74,234 45,931 14,745 16,134 9,645 3 1 4 6 , ,9 9 9 6 0 3 43,872 •Other cash 379,265 25,905 84,865 20,066 30,363 23,178 25,977 57,455 24,821 10,316 12,982 46,347 5,060 12,560 Discounts and advances 346,093 5,565 37,705 49,309 18,700 23,815 52,532 99,835 10,720 5,870 24,422 Industrial loans 794 312 440 42 Acceptances: Bought outright 34,550 34,550 Held under rep. agree. 4,834 4,834 ST. S. Govt, securities: Bought outright— 66,792 188,058 Bills 1,680,570 92,374 422,962 100,987 145,358 103,471 86,4l4 293,212 70,164 37,959 72,819 C N e o r t t e i s f icates 10 9 , , 9 15 3 3 2 , , 9 6 1 9 3 9 6 5 0 0 0 3 , , 9 1 2 5 7 4 2 2, , 3 7 0 5 3 1 , , 8 5 3 2 9 0 6 5 5 5 6 0 , ,0 9 6 5 8 7 7 9 9 4 1 5 , , 7 6 4 0 9 2 5 6 6 7 3 3 , , 5 1 9 1 7 5 4 5 7 62 0 , ,6 1 8 4 5 8 1 1 5 9 9 0 7 7 , , 1 4 0 5 2 0 4 3 5 8 6 2, , 1 4 7 4 6 0 2 2 4 0 6 6 , , 9 75 3 9 7 4 3 7 9 3 6 , , 7 6 1 3 4 9 4 3 3 6 4 3 , ,8 5 1 0 3 9 1 1 0 2 2 2 4 3 , , 3 3 3 8 2 0 Bonds 2,801,750 1 1 3 5 5 4 0, , 4 0 5 0 b 1 6, 7 1 0 8 5 3 , , 1 4 3 6 9 0 1 1 4 6 7 8 6, ,3 3 6 7 0 2 2 2 1 4 2 2 5 , , 3 0 3 4 2 1 1 1 5 7 1 2, 2 5 , 0 68 1 4 1 1 2 4 6 4 3 , , 0 3 6 1 3 0 4 4 8 2 8 0 , 6 8 , 2 59 7 1 1 1 0 1 2 6 5 , , 9 7 7 5 3 3 5 6 5 3 4 , , 2 9 8 3 3 0 1 1 0 2 6 1 4 , , 4 5 0 7 0 2 111,3 4 /" 5 wmm 3 M 1 313 y-y , ( \ 5 18 Total 24,568,932 field under rep. agree. 1350,456 6,183,460 1476,372 2125,041 1512,684 1263,310 4286,591 1025,753 554,938 1064,572 976,467 2749,288 Total U. S. Govt, sees. 24,568,932 1356,333 6,260,549 1526,121 2143,741 1536,499 1315,842 4386,426 1036,473 560,850 1088,994 981,527 2761,848 Total loans & securities 24,955,203 Due from foreign banks 22 8 kkl 25 *%-£. #J *td if£t;i td Uncollected cash items 4,779,996 Bank premises 73,432 66,345 15,766 23,118 16,302 11,083 6,076 11,602 11,298—30,038 lk,497 14,285 48,695 Other assets 269,105 2795,235 13,117,128 2969,077 4633,877 3414,919 2707,692 9084,892 2140,694 1096,815 2201,107 2030,560 6009,741 TOTAL ASSETS 52,201,737 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 9, 1957 H.4.1(c) Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fran S c an i sco (In thousands of dollars) L I A B I L I T I ES 1609,285 6,309,383 1740,756 2572,851 2155,846 1350,698 5227,531 1201,827 495,640 1068,009 715,503 2717,608 Federal Reserve notes 27,164,937 Deposits: Member bank reserves 19,232,848 827,104 5,515,624 906,780 1538,085 843,718 948,837 3011,161 692,330 438,414 856,084 1001,797 2652,914 U.S.Treas.-gen. acct. 363,065 23,856 62,941 24,389 30,338 33,647 18,910 39,584 19,142 18,587 34,369 34,865 32,437 Foreign 327,376 17,690 1/108,056 21,350 27,450 15,555 13,725 43,310 11,285 7,320 11,590 15,860 34,185 Other 281,521 4ll 210,319 12,282 1,589 4,082 2,381 l,6l4 1,253 1,244 2,435 3,766 40,145 Total deposits 20,204,810 "869,061 5,896,9^0 955,801 1597,462 897,002 983,853 3095,669 724,010 465,565 904,478 1046,288 2759,681 Deferred availability 243,840 570,616 176,394 352,100 296,269 315,746 585,087 166,575 103,643 179,463 205,355 395,653 cash items 3,590,741 Other liabilities and 748 -4,399 835 1,724 1,560 781 3,203 697 643 698 560 1^709 accrued dividends 17,557 2722,934 12,781,338 2882,786 4524,137 3350,677 2651,078 8911,490 2093,109 1065,491 2152,648 1967,706 5874,651 TOTAL LIABILITIES 50,978,045 CAPITAL ACCOUNTS Capital paid in 326,506 16,810 94,126 20,660 31,269 14,880 15,567 44,660 11,116 7,195 13,069 18,035 39,119 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, Oil 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l40 Other capital accounts 122,050 8,532 26,343 8,841 11,072 8,419 7,106 16,892 6,617 4,536 6,270 6,004 11,418 TOTAL LIABILITIES AND 2795,235 13,117,128 2969,077 4633,877 3414,919 2707,692 9084,892 2140,694 1096,815 2201,107 2030,560 6009,741 CAPITAL ACCOUNTS 52,201,737 Conting. liab. on acceptances purchased for foreign correspondents 53,601 2/ 15,062 1,287 2,037 2,787 6,003 2,128 loan commit 2,364 FRTTKRAT. RESERVE F. R. notes outstanding 28,390,993 1670,393 6,621,010 1850,307 2651,270 2245,593 1429,4l4 5381,686 1256,540 550,088 1097,418 767,849 2869,425 Collat. for F. R, notes: Gold certificate acct. 11,918,000 580,000 3,170,000 660,000 1130,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 Eligible paper 80,101 47,209 — — — — 9,610 — 23,282 1200,000 3,600,000 1200,000 1550,000 1350,000 1000,000 3200,000 900,000 460,000 820,000 525,000 1500,000 U. S. Govt, securities 17,305,000 Total collateral 29,303,101 1780,000 6,770,000 1907,209 2680,000 2295,000 1450,000 5500,000 1359,610 610,000 1143,282 808,000 3000,000 1/ After deducting $219,295,000 participations of other Federal Reserve Banks. 2/ After deducting $38,539,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis