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 24, 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 23 increased $42 million to $19,342 million. Estimated required reserves increased $8 million; and estimated excess reserves increased $34 million to $559 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $237 million, compared with $202 million the week before. The principal changes supplying average reserves were an increase of $168 million in Federal Reserve float, and decreases of $281 million in money in circulation and $94 million in Treasury deposits with Federal Reserve Banks. The principal offsetting change was a decrease of $482 million in U. S. Government securities bought outright. Total Reserve Bank credit decreased $318 million. As of Wednesday, January 23, holdings of U. S. Government securities bought outright were $571 million lower than a week earlier and member bank borrowings were $94 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 23, 1957 Jan.16, 1957 I Jan. 25, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,811 -482 +294 Held under repurchase agreement Acceptances— Bought outright 31 - 3 + 11 Held under repurchase agreement - * Loans, discounts, and advances— Member bank borrowings 322 - 1 -492 Other 26 + 25 Float 1,446 +168 +318 Total Reserve Bank credit 25,636 <315 +156 Gold stock 21,951 + 1 +259 Treasury currency outstanding 5,067 + l + 58 52,653 -318 +573 Money in circulation 30,827 -281 +466 Treasury cash holdings 798 + 12 + 5 Treasury deposits with F. R. Banks 199 - 94 -186 Foreign deposits with F. R. Banks 324 + 4 - 64 Other deposits with F. R. Banks 268 + 1 - 50 Other F. R. accounts (net) 894 - 3 L.25 33,311 -360 +157 Member bank reserves— 19,342 +_ 42 +325 Required reserves (estimated) 18,783 + 8 +289 Excess reserves (estimated) 559 + 34 + 36 Less than $500,000. 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 21,951 Treasury cash holdings 810 Treasury currency outstanding 5,067 Member bank) - Required (est.) 18,704 Money in circulation 30,684 reserves ) - Excess (est.) 368 On January 23, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,765 million, a decrease of $26 million for the week and an increase of $85 million from the comparable date Digitized for FRASER a year ago. 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) Change since Jan. 23, Jan. 16, Jan. 25, 1957 1957 1956 A S S E TS Gold certificate account 20,389,393 + 1 + 238,042 Redemption fund for F. R. notes 875,627 4,324 + 14,804 Total gold certificate reserves 21,265,020 4,323 + 252,846 F. R. notes of other Banks 564,296 + 25,265 + 142,994 Other cash 461,403 + 30,652 + 11,768 Discounts and advances 357,915 + 94,185 - 488,964 Industrial loans 785 34 + 129 Acceptances--bought outright 29,829 2,946 + 10,207 U. S. Government securities: Bought outright— Bills 682,475 - 570,870 + 63,475 Certificates 10,932,699 « +5 ,012,000 Notes 9,153,913 -5 ,012,000 Bonds 2,801,750 ~~ Total bought outright 23,570,837 - 570,870 + 63,475 Held under repurchase agreement Total U. S. Government securities 23,570,837 - 570,870 + 63,475 Total loans and securities 23,959,366 - 479,665 • 415,153 Due from foreign banks 22 Uncollected cash items 5,207,533 - 623,131 + 593,875 Bank premises 74,404 + 635 + 12,339 Other assets 292,158 + 10,650 + 98,713 TOTAL ASSETS 51,824,202 -1,039,917 697,382 L I A B I L I T I ES Federal Reserve notes 26,767,350 - 193,899 + 562,154 Deposits: Member bank reserves 1199,,007722,,441166 - 217,453 + 335577,,004488 U. S. Treasurer—general account 258,805 - 27,057 - 202,548 Foreign 317,732 8,364 • 78,742 Other 258,928 - 32,492 - 87,968 Total deposits 19,907,881 - 285,366 - 12,210 Deferred availability cash items 3,888,933 - 569,153 + 61,459 Other liabilities and accrued dividends 15,459 1,873 4- 2,367 TOTAL LIABILITIES 50,579,623 -1,050,291 + 613,770 C A P I T AL A C C O U N TS Capital paid in 327,111 + 329 + 22,190 Surplus (Section 7) 747,593 - - + 53,981 Surplus (Section 13b) 27,543 — Other capital accounts 142,332 + 10,045 + 7,441 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,824,202 -1,039,917 + 697,382 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.6$ + .5% Contingent liability on acceptances purchased for foreign correspondents 59,410 ++ 33,,227744 + 2255,,668833 Industrial loan commitments 2.362 + 11 156 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 23, 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 330,094 35 9,284 167,740 16 days to 90 days 2,821 63 20,545 6,026,735 91 days to 1 year 25,000 437 — 14,574,612 Over 1 year to 5 years -- 250 -- 373,279 Over 5 years to 10 years -- — — 1,013,6l4 Over 10 years -- -- — 1,414,857 Digitized for FRTAoStEaRl 357,915 785 29,829 23,570,837 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE Total Boston New York Phila- Cleve- Richmond Atlanta CChhiiccaaggoo St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands A S S E TS Gold certificate account 20,389,393 897,610 5,769,478 985,622 1834,786 1294,081 809,142 3708,866 798,408 330,311 801,301 675,547 2484,241 Redemption fund for F. R. notes 875,627 56,780 182,855 62,641 77,477 69,821 50,989 160,609 43,707 22,922 41,524 26,129 80,173 Total gold certificate reserves 21,265,020 954,390 5,952,333 1048,263 1912,263 1363,902 860,131 3869,475 842,115 353,233 842,825 701,676 2564,414 F.R. notes of other Banks 564,296 41,199 94,161 56,152 45,005 43,657 94,582 47,705 14,958 20,582 11,045 44,085 51,165 Other cash 461,403 32,506 107,963 23,461 36,091 26,969 34,620 73,155 25,232 10,731 15,208 18,323 57,144 Discounts and advances 357,915 10,065 27,735 39,805 27,359 37,895 45,947 59,268 14,485 24,185 26,046 35,875 9,250 Industrial loans 785 335 409 41 Acceptances— Bought outright 29,829 29,829 -- - - - - " -- U. S. Govt, securities: Bought outright— Bills 682,475 37,513 171,763 4i,oio 59,029 42,020 35,093 119,072 28,494 15,416 29,571 27,124 76,370 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 23,570,837 1295,595 5,932,261 1416,395 2038,712 1451,233 1211,989 4112,451 984,083 532,395 1021,324 936,799 2637,600 Held under repurchase agreement Total U. S. Govt, sees. 23,570,837 1295,595 5,932,261 1416,395 2038,712 1451,233 1211,989 4112,451 984,083 532,395 1021,324 936,799 2637,600 Total loans & securities 23,959,366 1305,995 5,989,825 1456,609 2066,071 1489,128 1257,936 4171,719 998,568 556,621 1047,370 972,674 2646,850 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,207,533 454,014 1,0067980 307,123 474,523 384,669 416,696 811,613 216,484 121,652 260,329 247,827 505,623 Bank premises 74,404 5,362 9,493 4,759 7,763 7,223 5,236 5,882 4,578 4,808 4,385 4,166 10,749 Other assets 292,158 15,802 72.216 17,159 25,132 17,834 14,956 52,825 11,983 6,546 12,456 12,429 32,820 TOTAL ASSETS 51,824,202 2809,269 13,232,977 2913,528 4566,850 3333,383 2684,158 9032,377 2113,919 1074,174 2193,619 2001,181 5868,767 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

M'T DV CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 2;( , 1957. 5.4.1(c) Total BostonL | 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 K C an i s t a y s Dallas Fran S c a i n s co L I A B I L I T I ES 1585,423 6,232,796 1718,035 2542,442 2119,764 1328,847 5164,423 1184,981 489,445 1052,793 701,428 2646,973 Federal Reserve notes 26,767,350 Deposits: 441,426 873,679 1001,550 2584,496 823,550 5,467,180 879,897 1511,358 835,353 923,185 3032,465 698,277 Member bank reserves I9,072,it-l6 485 566 547 1,534 577 251,980 44l 503 592 530 530 520 U.S.Treas.-gen. acct. 258,805 7,344 11,628 15,912 34,297 17,748 1/ 97,693 21,420 27,540 15,606 13,770 43,452 11,322 F O o t r h e e i r g n 2 3 5 1 8 7 , , 9 7 2 3 8 2 355 194i,~6~9/t 0s vj* 71W0 ,I5W1j6 yX v 6v3 7J 3I, -4r 274 \ 1,675 7 lI ,4l6 9li_ 45 . 0 1 , , 4 2 6 1 7 2 8 8 8 0 6 5 , 678 102 2 0 , , 8 0 3 3 0 9 2 4 6 0, 6 4 0 5 , 7 7 84 842,230 6,011,543 912,274 1540,030 054,975 939,lbO 3077,863 711,030 Total deposits 19,907,001 Deferred availability 101,812 204,213 214,6o4 422,201 307,589 643,279 195,043 371,184 292,294 357,685 610,077 168,952 cash items 3,888,933 Other liabilities and 692 541 633 1,589 656 4,270 593 1,604 778 693 2,798 612 accrued dividends 15,459 2735,898 12,891^880 2825,945 4455^b8 j%b7,8ll 2626,385 8855,1b! 2Ub5,575 1042,41b 2144,225 1937,504 5731,5*7 TOTAL LIABILITIES 50,579,623 CAPITAL ACCOUNTS C S S u a u r p r p i p l t l u u a s s l ( ( p S S a e e i c c d t t i i i o o n n n 7 1 ) 3 b) 7 3 4 2 2 7 7 7 , , , 5 5 1 9 4 1 3 3 1 4 1 3 6 3 , , , 8 9 0 1 1 4 9 1 8 2 9 0 7 4 8 , , , 3 2 0 1 1 0 9 2 2 2 5 1 4 0 2 0 , , , , 4 6 3 1 8 9 0 0 9 1 1 2 6 3 1 6 1 i 2 , , , , 3 3 o 8 0 9 c 7 9 3 6 4 1 3 3 9 4 7 , , , 3 , 6 4 9 5 5 9 7 9 5 4 4 8 7 1 3 , 6 5 3 1 , , 2 3 6 1 7 9 7 1, 5 9 42 9 4 2 1 4 1 0 , 0 , 7 , 6 3 4 3 2 3 3 1 5 1 2 7 2 1 9 , 1 , , 3 1 3 3 6 3 2 0 1 1 7 4 1 8 , , , , 2 0 9 5 0 7 2 6 5 3 0 0 1 1 2 7 3 , , 7 , 1 1 , 1 3 5 9 1 7 9 8 5 3 1 3 6 8 1 7 , , , , 0 3 7 5 0 8 8 0 7 0 2 8 2 3 1 8 , 9 3 2 l , , , 4 1 5 4 o 1 4 1 8 9 3 Other capital accounts 142,332 9,593 31,556 TOTAL LIABILITIES AND 2809,269 13,232.977 2913,528 4566,850 3333.383 2684,158 9032,377 2113,919 1074,174 2193,619 2001,181 5868,767 CAPITAL ACCOUNTS 51,824,202 Conting. liab. on accepta f n o c r e e s i g p n u r c c o h r a r s es e p d o n f d o e r n ts 5 2 9 , , 3 4 6 10 2 3,445 2/ 16,702 4,15 4 8 6 5,3 8 46 8 3,029 2,673 8,4 1 3 0 5 0 2,198 1,425 2,22 2 5, , 72 1 5 28 7 3,089 6,653 Industrial loan commit. "FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 28,194,120 1662,286 6,588,729 1836,954 2633,853 2219,976 1420,597 5342,177 1247,119 548,273 1087,977 758,955 2847,224 Collat. for F. R. notes: 580 000 3,170,000 640,000 1130,000 915,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 Gold certificate acct. 11,868,000 I- 38 055 - — - — 13,560 — 25,096 Eligible paper 76,711 &&!$£> iI I I :™ U. S. Govt, securities 17,305,000 6:7%:%o 1878:055 %% I S Q QQ 3 % ^- 29,249,711 Total collateral l/ After deducting $220,014,000 participations of other Federal Reserve Banks. 2/ After deducting $42,708,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis