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 17, 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 16 decreased $401 million to $19,300 million. Estimated required reserves decreased $187 million; and estimated excess reserves decreased $214 million to $525 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $202 million, compared with $234 million the week before. The principal changes reducing average reserves were decreases of $395 million in Federal Reserve holdings of U. S. Government securities, $261 million in Federal Reserve float, and $182 million in member bank borrowings. The principal offsetting changes were decreases of $371 million in money in circulation and $59 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $855 million. As of Wednesday, January l6, holdings of U. S. Government securities bought outright were $427 million lower than a week earlier and member bank borrowings were $77 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week endingI Change from week ending and related items Jan. 16, 1957 I Jan. 9. 1957 I Jan. 18, 1956 (In millions of dollars) Reserve Bank credit; U. S. Government securities— Bought outright—System account 24,293 -308 +491 Held under repurchase agreement - 87 - 2 Acceptances— Bought outright 34 - 1 + 13 Held under repurchase agreement - 12 + * Loans, discounts, and advances— Member bank borrowings 323 -182 -597 Other 26 - 4 + 24 rl Float 1,278 -261 Total Reserve Bank credit 25,954 =#55 Gold stock 21,950 +258 Treasury currency outstanding 5,066 j-^8 52,971 ^53 +399 Money in circulation 31,108 -371 +476 Treasury cash holdings 786 + 3 Treasury deposits with F. R. Banks 293 - 59 -61 Foreign deposits with F. R. Banks 320 - 3 - 97 Other deposits with F. R. Banks 267 - 20 - 54 Other F. R. accounts (net) —M - 2 33,671 -452 Member bank reserves— 19,300 -401 +164 Required reserves (estimated) 18,775 7L57 +232 Excess reserves (estimated) 525 -214 - 68 * Less than $$00,000 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 797 Treasury currency outstanding 5,066 Member bank) - Required (est.) 18,829 Money in circulation 30,942 reserves ) - Excess (est.) 46l On January l6, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,791 million, a decrease of $29 million for the week and an increase of $119 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) since Jan. 16, Jan. 9, Jan. 18, 1957 1957 1956 A S S E TS Gold certificate account 20,389,392 1 + 238,040 Redemption fund for F. R. notes .872,251 — — + 17,204 Total gold certificate reserves 21, 269,343 - 1 + 255,244 F. R. notes of other Banks 539,031 + 63,661 + 135,361 Other cash 430,751 + 51,486 + 9,587 Discounts and advances 263,730 - 82,363 - 559,892 Industrial loans 819 + 25 + 137 Acceptances: Bought outright 32,775 1,775 + 12,030 4,834 Held under repurchase agreement - U. S. Government securities: Bought outright— . Bills 1,253,345 427,225 + 452,145 Certificates 10,932,699 :: +5 ,012,000 Notes 9,153,913 -5,012,000 Bonds 2,801,7?) Total bought outright 24,141,707 - 427,225 + 452,145 Held under repurchase agreement Total U. S. Government securities 24,141,707 - 427,225 + 452,145 Total loans and securities 24,439,031 - 516,172 - 95,580 22 Due from foreign banks Uncollected cash items 5,830,664 +1,050,668 + 662,876 Bank premises 73,769 + 337 + 11,857 Other assets 281,508 + 12,403 + 95,835 TOTAL ASSETS 52,B64[ll9 + 662,302 +1,075,180 L I A B I L I T I ES Federal Reserve notes 26,961,249 - 203,688 + 554,273 Deposits: Member bank reserves 19,289,869 + 57,021 + 123,379 U. S. Treasurer—general account 285,862 - 77,203 - 3,191 Foreign 326,096 - 1,280 - 48,354 Other 291,420 + 9,899 - 19,102 Total deposits 20,193,247 11,563 + 52,732 Deferred availability cash items 4,458,086 + 867,345 + 383,677 Other liabilities and accrued dividends 17,332 - 225 + 3,444 TOTAL LIABILITIES 51,629,914 + 651,869 + 994,126 C A P I T AL A C C O U N TS Capital paid in 326,782 + 276 + 22,447 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 132,287 + 10,237 + 4,626 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,064,119 + 662,382 +1,075,180 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.1# + .2% -- Contingent liability on acceptances purchased for foreign correspondents 56,136 + 2,535 + 23,462 Industrial loan commitments 2,351 - 13 - 153 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY l6, 1957 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) u. Discounts and Industrial S. Government advances loans Acceptances securities 11,267 — 2 8 8 , 4 2 0— Within 15 days 232,603 35 16 days to 90 days 6,127 62 21,508 6,476,925 91 days to 1 year 25,000 472 14,574,612 Over 1 year to 5 years 250 373,279 1,013,614 Over 5 years to 10 years Over 10 years 1.414,857 Total 263,730 519 32,775 24,141,707 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 16, 1957 H.4.l(b) Phila- Cleve St. Minne - Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphla land , Louis apolis Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,389,392 871,956 5,680,532 1020,521 1819,919 1265,453 862,018 3706,167 796,284 346,157 839,237 693,798 2487,350 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 4l,6l4 26,197 80,377 Total gold certificate 21,269,343 928',982 5,864*270 1083,574 1897,788 1336,593 913,191 3867,167 840,096 369,109 800,051 719,995 2567,727 reserves F.R. notes of other Banks 539,031 40,160 92,504 51,771 39,231 43,142 86,822 49,314 16,178 19,141 9,684 40,454 50,630 Other cash 430,751 30,157 96,874 25,058 33,487 24,945 32,997 65,362 25,262 10,586 14,718 17,882 53,423 Discounts and advances 263,730 10,115 27,728 23,605 23,625 30,360 24,500 68,485, 10,085 9,200 20,327 3,000 12,700 Industrial loans 819 335 443 41 Acceptances— Bought outright 32,775 32,775 U. S. Govt, securities: Bought outright- Bills 1,253,345 68,891 315,439 75,314 108,406 77,168 64,446 218,673 52,327 28,310 54,307 49,813 140,251 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 115544..000011 770055..113399 l1b6Q8..%3060 242.332 172.501 144.063 488.827 116.973 63.283 121.400 111.353 313.518 Total 24,141,707 1326,973 6,075,937 1450,699 2088,089 1486,381 1241,342 4212,052 1007,916 545,289 1046,060 959,488 2701,481 Held under repurchase agreement Total U. S. Govt, sees. 24.141.707 1326.973 6.075.937 1450.699 2088.089 1486.381 1241.342 4212.052 1007.916 545.289 1046.060 959,488 2701,481 Total loans & securities 24,439,031 1337,423 6,136,440 1474,747 2111,714 1516,741 1265,842 4280,537 1018,001 554,530 1066,387 962,488 2714,181 Due from foreign banks 22 1 1 / 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 5,830,664 500,349 1,143,467 319,050 576,615 450,173 464,632 925,490 241,018 139,613 252,910 275,674 541,673 Bank premises 73,769 5,362 9,408 4,782 7,805 7,222 4,688 5,882 4,578 4,808 4,340 4,145 10,749 Other assets 281,508 15,140 69,795 16,506 24,003 17,068 14,867 50,697 11.469 6,443 11,966 11,937 31,617 TOTAL ASSETS 52,864,119 2857,574 13,412,764 2975,490 4690,645 3395,885 2783,040 9244,452 2156,603 1104,231 2240,857 2032,5765,970,002 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH JANUARY 16, 1957 Total Boato. Hew Tort |ttctaio* Atlanta Cblcaso | % %% TT D a m. LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,961,249 1598,538 6,263,916 1729,491 2557,891 2138,933 1344,014 5193,561 1193,507 492,540 1060,755 708,917 2679,186 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,289,869 81t8,3£® 3^7'073 9v'kV 1540,700 827,325 981,366 3129,109 706,708 447,492 914,779 1004,654 2606,858 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 285,862 llo ,277>T^7 161 503 534 570 532 564 2,114 5u69 508 8 i]44o FFFFFooooorrrrreeeeeiiiiigggggnnnnn 326,096 ^ 1:1 ^ IS '& 1:8 ?fcls OOOOOttttthhhhheeeeerrrrr 291,420 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,193,247 067,737 5,973,050 947,209 1569,934 848,461 997,570 3175,465 720,245 458,754 928,o6k> 1024,175 2682,533 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,458,086 317,734 832,320 211,020 450,422 342,405 383,597 696,943 194,326 120,611 202,557 235,620 470,531 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 17,332 111 716 {h964 822 1,710 1,145 706 3.152 545 792 587 602 1.591 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,629,914 2704,725 13,074,200 2000,542 4579,957 3330,964 2725,887 9069,121 2108,623 1072,697 2191,963 1969,314 5ess!841 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 11 111111 9111111II !i CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 326,782 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 747,593 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 132,287 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,864,119 2857,574 13,412,764 2975.490 4690.645 3395,885 2783.040 9244.452 2156,603 1104,231 2240,857 2032.576 5970.002 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 56,136 3,254 2/ 15,800 3,927 5,049 2,861 2,525 7,966 2,076 1,346 2,132 2,917 6,283 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,351 — — 12 in — 100 2.128 ypTH'R'RAT. PTCSTEPVE! AfICTIfPg »APPnTTTJrpg 1 * == FF.. RR.. nnootteess oouuttssttaannddiinngg 28,295,850 1668,789 6,601,552 1842,034 2642,799 2232,019 1428,438 5360,538 1253,435 549,373 1093,405 763,507 2859,961 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 50,392 21,855 — — — — 9,160 — 19,377 — -- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,305.000 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 TToottaall ccoollllaatteerraall 29,273,392 1780,000 6,770,000 1881,855 2680,000 2295,000 1450,000 5500,000 1359,160 610,000 1139.377 808.000 1000.000 111/// AAAfffttteeerrr dddeeeddduuuccctttiiinnnggg $$$222222333,,,6660009 9,,000000 ppaarrttiicc ilppaattiioonnss ooff ootthheerr FFeeddeerraall RRpehspetr-vvpe BTaunnikcsa." 1 T ' 2/ After deducting $40,336,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis