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 31, 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 30 decreased $424 million to $18,918 million. Estimated required reserves decreased $180 million; and estimated excess reserves decreased $244 million to $315 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $187 million; the week before they were $23 7million less than excess reserves. The principal changes reducing average reserves were decreases of $361 million in Federal Reserve holdings of U. S. Government securities and $368 million in Federal Reserve float, and an increase of $221 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $180 million in member bank borrowings and $129 million in gold stock, and a decrease of $220 million in money in circulation. Total Reserve Bank credit decreased $549 million. As of Wednesday, January 30, holdings of U. S. Government securities bought outright were $143 million lower than a week earlier and member bank borrowings were $320 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Jan. 30. 1957 Jan. 23, 1957 I Feb. 1, 1956 In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,450 -361 + 36 Held under repurchase agreement Acceptances—bought outright 30 - 1 + 12 Loans, discounts, and advances— Member bank borrowings 502 +180 -497 Other 26 - - + 25 Float 1,078 -368 +264 Total Reserve Bank credit 25,087 .549 -161 Gold stock 22,080 +129 +387 Treasury currency outstanding 5,068 + 1 + 59 52,234 -419 +284 Money in circulation 30,607 -220 +384 Treasury cash holdings 809 + 11 + 11 Treasury deposits with F. R. Banks 420 +221 - 44 Foreign deposits with F. R. Banks 329 + 5 - 40 Other deposits with F. R. Banks 258 - 10 - 85 Other F. R. accounts (net) 893 - 1 - 26 33,316 + 5 +200 Member bank reserves-- 18,918 -424 + 84 Required reserves (estimated) 18,603 -180 +253 Excess reserves (estimated) 315 -244 -169 , 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 22,251 Treasury cash holdings 8l6 » Treasury currency outstanding 5,069 Member bank) - Required (est.) 18,604 Money in circulation 30,567 reserves ) - Excess (est.) 285 On January 30, 1957# U» S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,741 million, a decrease of ,Di gi$tiz2e4d for FmRiAlSElRi on for the week and an increase of $20 million from the comparable date http://fara syere.satloru isafegdo.o.rg / Federal Reserve Bank of St. Louis

H. 4.1(a) STATEMENT OP CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Jan» 30/ Jan. 23, Feb. 1, 1957 1957 A S S E TS Gold certificate account 20,689,393 300,000 + 533,041 Redemption fund for F« R. notes 872,146 3,481 + 13,026 Total gold certificate reserves 21,561,539 296,519 + 546,067 F. R. notes of other Banks 554,216 10,080 + 169,254 Other cash 485,149 + 23,746 + 28,896 Discounts and advances 677,854 + 319,939 255,848 Industrial loans 825 + 40 + 151 Acceptances—bought outright 29,848 + 19 11,840 U. S, Government securities: Bought outright- Bills 539,535 - 142,940 - 40,965 +5,012,000 Certificates 10,932,699 -5,012,000 Notes 9,153,913 Bonds i/T Total bought outright 23,427,897 - 142,940 - • 40,965 Held under repurchase agreement Total U. S. Government securities 23,427,897 - 142,940 • • 40,965 Total loans and securities 24,136,424 + 177,058 284,822 Due from foreign banks 22 Uncollected cash items , 4,828,511 - 379,022 + 341,511 Bank premises 74,305 99 + 12,291 Other assets + 11,457 + 102.513 TOTAL ASSETS 51.943,781 + 119,579 + 915,712 L I A B I L I T I ES Federal Reserve notes 26,664,123 103,227 + 515,810 Deposits: Member bank reserves 18,889,375 183,041 5,699 U. S. Treasurer--general account 613,693 + 354,888 + 215,853 Foreign 347,900 + 30,168 - 12,037 Other 260,681 + 1,753 - 93,639 Total deposits 20,111,649 + 203,768 + 104,47% Deferred availability cash items 3,897,391 + 8,458 + 206,216 Other liabilities and accrued dividends 15,749: + 290 + 3.016 TOTAL LIABILITIES 50,688,912 + 109,259 + 829,520 C A P I T AL A C C O U N TS Capital paid in 327,611 500 + 22,152 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 152,122 9,790 + 10,059 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,943,701 119.579" • 915,712 Ratio of gold certificate reserves to deposit and F, R. note liabilities combined 46.1$ Contingent liability on acceptances purchased for foreign correspondents 61,429 + 2,019 + 28,576 Industrial loan commitments 2,322 - 40 166 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 30, 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 W 116,310 Within 15 days 632,792 6,529 16 days to 90 days 20,062 63 23,319 5,935,225 91 days to 1 year 25,000 476 14,574,612 Over 1 year to 5 years 250 373,279 Over 5 years to 10 years M 1,0 M 13,6 14 Over 10 years Digitized for FRATSoEtRa l 677,854 B25 29,848 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 30, 1957 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia! land Louis apolis I City Francisco (In thousands of dollars) A S S E TS Sold certificate account 20,689,393 965,580 5,634,052 1033,796 1914,551 1311,469 831,481 3774,421 810,793 328,842 837,923 689,790 2556,695 -Redemption fund for F. R. notes 872,146 56.603 182.074 62.332 77.177 68.773 50.845 160.318 41.617 22.889 41.464 ,£$,073 79,#2 Total gold certificate 1022,183 5,816,126 1096,128 1991,728 1380,242 882,326 3934,739 854,410 351,731 879,387 715,862 2636,677 reserves 21,561,539 F.R. notes of other Banks 554,216 42,329 91,749 53,602 46,501 42,233 89,228 55,74? 11,560 22,000 8,950 41,304 49,013 Other cash 485,149 34,926 110,034 29,127 37,275 28,645 41,051 74,106 25,869 11,570 15,477 18,917 58,152 Discounts and advances 677,854 41,030 79,035 84,315 48,675 57,845 62,397 81,413 46,035 39,375 54,734 28,850 54,150 industrial loans 825 335 449 4l ^Acceptances— Bought outright 29,848 29,848 U. S. Govt, securities: Bought outright-- « Bills 539,535 29,656 135,788 32,421 46,666 33,219 27,743 94,133 22,526 12,187 23,378 21,443 60,375 Certificates 10,932,699 600,927 2,751,520 656,957 945,602 673,115 ,56 2,,1 4.8 ,1 907,450 456,440 246,937 473,714 434,509 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 23,427,897 1287,738 5,896,286 1407,806 2026,349 1442,432 1204,639 4067,512 978,115 529,166 1015,131 931,118 2621,605 Held under repurchase agreement Total U. S. Govt, sees. 23,427,897 1287,738 5,896.286 1407,806 2026.349 1442.432 1204.639 4087,512 978,115 529,166 1015.131 931.118 2621,605 1329,103 6,005,169 1492,570 2075,024 1500,277 1267,036 4168,925 1024,150 568,582 1069,865 959,968 2675,755 Total loans & securities 24,136,424 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 1 1 1 2 Uncollected cash items 4,828,511 371,559 880:571 309,529 482,534 375,921 381,767 818,460 185,788 116,369 206,296 244,308 455,409 Bank premises 74,305 5,327 9,493 4,759 7,778 7,191 5,230 5,877 4,556 4,808 4,421 4,166 10,699 16.360 74.962 17.839 26.288 18.649 15.537 54.76s 12.420 6.808 12,#4 12,797 %4,,2l6 Other assets 303,615 TOTAL ASSETS 51,943,781 2821,788 12,988,110 3003,556 4667,130 3353,159 2682,176 9112,622 2118,754 1081,869 2197,371 1997,323 5919,923 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis I

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 30, 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 - JRichmond 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 DDaallllaass Fran S c a i n s co ("STt housands of dollars) L I A B I L I T I ES 1578,212 6,216,860 1710,854 2533,409 2112,499 1316,847 5141,097 1181,941 487,216 1052,464 695,966 2636,758 Federal Reserve notes 26,664,123 Deposits: Member bank reserves 18,889,375 780,008 5,391,585 890,036 1532,082 814,692 909,578 3023,447 687,522 416,913 858,408 973,465 2611,641 U.S.Treas.-gen. acct. 613,693 51,031 74,417 46,264 59,378 41,564 50,792 72,148 46,566 38,719 48,585 35,120 49,109 Foreign 347,900 19,488 1/106,291 23,520 30,240 17,136 15,120 47,712 12,432 8,064 12,768 17,472 37,657 Other 260,681 895 183,055 9,88l 3,202 4,493 5,241 4,478 2,789 1,111 1,301 2,955 41,280 Total deposits 20,111,649 051,422 5,755,345 969,701 1624,902 877,005 980,731 3147,785 749,309 464,807 921,062 1029,010 2739,687 Deferred availability 317,583 668,001 234,086 394,525 295,790 325,673 641,914 138,079 97,301 173,425 207,634 403,380 cash items 3,897,391 Other liabilities and 579 4,268 688 1,735 792 582 2,751 719 564 577 646 1,848 accrued dividends 15,749 TOTAL LIABILITIES 50,600,912 2747,796 12,644,477 2915,329 4554,571 3286,966 2623,033 0933,547 2070,040 1049,000 2147,520 1933,256 5701,673 CAPITAL ACCOUNTS Capital paid in 327,611 16,941 94,247 20,710 31,412 15,003 15,775 44,796 11,177 7,209 13,131 18,086 39,124 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 13h) 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 152,122 10,092 34,065 10,727 13,748 10,247 8,627 22,429 7,677 5,179 7,592 7,166 14,573 TOTAL LIABILITIES AND 2821,788 12,988,110 3003,556 4667,130 3353,159 2682,176 9112,622 2118,754 1081,869 2197,371 1997,323 5919,923 CAPITAL ACCOUNTS 51,943,781 Conting. liab. on acceptances purchased for foreign correspondents 61,429 3,561 2/ 17,282 4,298 5,526 3,131 2,763 8,719 2,272 1,474 2,333 3,191 6,877 100 2,1.28 Industrial loan commit. 2.322 <b* •" 6 88 FEDERAL RESERVE AGENTS' ACCOUNTS 1654,545 6,561,187 1830,545 2627,927 2207,569 1411,558 5317,628 1239,266 546,409 1082,681 753,672 2833,382 F. R. notes outstanding 28,066,369 Collat. for F. R. notes: Qold certificate acct. 11,868,000 580,000 3,170.000 640,000 1130,000 915,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 74,565 — — — — 45,110 — 53,784 — -- Eligible paper 173,459 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 ,1780,000 6,770,000 1914,565 2680,000 2265,000 1450,000 5500,000 1395,110 610,000 1173,784 808,000 3000,000 Total collateral 29,346,459 1/ After deducting $241,584,000 participations of other Federal Reserve Banks. 2/ After deducting $44,147,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis «