H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARB pp GOVERNORS For Immediate Release H.4.1 OF THE FEDBlA LRESERVE SYSTEM February f, 1957 WEEKLY AVERAGES OF MEMBER BAH RESERVES ,RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITIO NOF THE FEDERA LRESERVE BABKS The average of dail yfigures of member ban kreserves for the week ending February 6 increased $2 million to $18,92 0million. Estimated required reserves decreased $67 million ;and estimated exces sreserves increased $69 million to $378 million. Member bank borrowings at th eFederal Reserve Banks exceeded excess reserves by $237 million, compared with $193 milli otnhe week before. The principal changes supplying average reserves were increases of $171 million in gold stoc kand $113 millio nin member ban kborrowings. The principal offsetting change swere increases of $11 4million in Treasur ydeposits with Federal Reserve Banks and $99 millio nin "other" F. R. accou nt(nset), and decreases of $15 million in Federa lReserve holdings of U .S. Government securities and $38 million in Federa lReserve float. Total Reserve Bank credit increased $59 million. As of Wednesday ,February 6, holding sof U .S. Government securities bought outright were $65 million lower than a week earlier ,U. S. Government securities held under repurchase agreement wer e$84 million higher, an dmember bank borrowings were $l6l million higher. Member bank reserves, Averages of dail yfigures Reserve Bank credit, For week ending Change from week ending and related items Feb. 6, 1957 Jan. 10. 1957 I Feb. 8. 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,411 - 39 - 12 Held under repurchase agreement 24 + 24 + 24 Acceptances—bought outright 30 + 12 Loans, discounts, an dadvances-- Member bank borrowings +113 -207 6 15 Other + 25 26 Float 1,040 - 38 +200 Total Reserve Bank credit 25,146 + 59 + 42 Gold stock +171 + 5 58 Treasury currency outstanding 1 :^ + 1 52,466.7 +232 + 6 59 Money in circulation 30,5 9fr& - 12 + 3 76 Treasury cash holdings + 21 8 17 + 8 Treasury deposits with F. R. Banks 534 +114 + 1 28 Foreign deposits with F. R. Banks 333 + 4 - 32 Other deposits with F. R. Banks - 55 2 76 + 18 Other F. R. account (snet) 992 + 99 + 75 33,547 +231 +513 Member bank reserves-- + 2 +147 1 8 , 9 20 Required reserves (estimated) 18,542 - 67 +312 Excess reserves (estimated) 378 + 69 - 1 65 For Wednesday Federal Reserve figures see STATEMEN TOF CONDITIO NOF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in million sof dollars: Qold stock 22,252 Treasury cash holding s829 Treasury currency outstanding 5,070 Member bank) - Required (est.) 18,517 Money in circulatio n30,584 reserves ) - Exces s(est.) 672 On February 6, 1957 ,U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,670 million ,a decreas eof $71 million for the week an da decrease of $68 millio nfrom the comparable date a Digitized for FRASER year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT Of CWlTlON OF THE TWELV EFEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 6, Jan, 30, Feb. 8, 1957 1957 1956 A S S E TS Gold certificate account 20,694,393 + 538,040 + 5 , 0 00 Redemption fund for F. R. notes 867,050 - 5,096 + 10,492 Total gold certificate reserves 21,561,443 + 548,532 - 96 F. R. note sof othe rBanks 519,992 - 34,224 + 159,443 Other cash 478,410 6,739 + 34,008 Discounts and advances 838,736 + 160,882 + 12,074 Industrial loans 823 2 + 179 Acceptances--bought outright 29,425 423 + 12,947 U. S. Government securities: Bought outright— Bills 474,675 64,860 - 81,025 Certificates 10,932,699 +5,012,000 Notes 9,153,913 - 5 , 0 1 2 , 0 00 Bonds 2,801,750 Total bought outright 23,363,037 64,860 - 81,025 Held under repurchase agreement 84,000 84,000 + 84j000 * Total U. S, Government securities 23,447.037 hT 19,140 2,975 Total loans an dsecurities 24,316,021 + 179,597 + 26,175 Due from foreign banks 22 Uncollected cash items 4,431,178 - 397,333 + 495,571 Bank premises 74,432 + 127 + 12,408 Other assets 197,806 - 105,809 - 13,545 TOTAL ASSETS 51,579,304 - 364,477 +1,264,592 L I A B I L I T I ES Federal Reserve notes? ~ ~ 26,652,580 11,543 + 530,791 Deposits: Member bank reserves 19,188,735 + 299,360 + 514,159 U. S. Treasurer—general account 313,987 - 299,706 + 8,539 Foreign 386,150 + 38,250 + 16,942 Other 239,146 - • 75,920 Total deposits 20,128,018 + 1^3# + 463,720 Deferred availability cash items 3,518,491 - 378,900 + 180,207 Other liabilities and accrued dividends 14,842 907 + 989 TOTAL LIABILITIES 50,313,931 - 374,981 +1,175,707 C A P I T AL A C C O U N TS Capital paid in 328,232 621 + 22,157 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 162,005 9,883 + 12,747 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,579,304 - 364.477 +1,264,592 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 46.1* + .2# Contingent liability on acceptances purchased for foreign correspondents 62,371 + 942 + 30,524 Industrial loan commitments 2.102 - 20 21-5 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES. FEBRUARY 6, 1957 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 1 5days in accordanc ewith maximu mmaturity of th eagreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 808,848 36 9,216 5,364,050 16 days to 90 days 4,888 63 2 0 , 2 09 7 0 6 , 6 25 91 days to 1 year 25,000 482 14,574,612 Over 1 yea rto 5 years — 242 373,279 Over 5 years to 10 years 1,013,614 Over 10 years — 1,414,857 Total m ?m m 29,425 23,447,037 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.KW STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK ON FEBRUARY 6, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) AS S E TS Gold certificate account 20,694,393 993,979 5,686,542 1035,883 1 8 7 2 , 6 85 1352,504 824,662 3746,323 813,045 320,960 838,924 677,675 2531,211 Redemption fund for F. R. notes 867,050 56.597 182.052 62.327 77.168 68.765 50.840 155.299 43.613 22.887 41.460 26.069 79.973 Total gold certificate reserves 21,561,443 1 0 5 0 , 5 76 5>868,594 1 0 9 8 , 2 10 1949,853 1421,269 8 7 5 , 5 02 3901,622 8 5 6 , 6 58 343,847 880,384 703,744 2611,184 E..R. notes of other Banks 519,992 36,526 9 0 , 8 01 4 5 , 6 31 45,500 41,573 8 6 , 5 29 54,099 1 0 , 6 31 19,932 6 * , 8 70 41,104 40,796 Other cash 478,410 36,004 111,902 29,059 40,265 27,614 35,830 72,174 24,477 10,780 15,032 19,420 55,853 Discounts and advances 838,736 31,855 315,410 63,310 54,175 43,130 54,222 146,130 24,985 28,615 28,554 13,800 34,550 industrial loans 823 335 447 41 Acceptances— Bought outright 29,425 29,425 S. S. Govt, securities: ~ '-Sought outright— Bills 474,675 26,091 119,464 28,523 41,056 29,226 24,408 82,817 19,818 10,722 20,567 18,866 53,117 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 4 7 0 , 6 85 1 5 9 7 , 1 02 3 8 2 , 1 76 206,759 396,639 363,813 1024,332 Bonds 2.801.750 154.001 705.119 168.160 242.112 172.501 l44.06l 488,827 116,973 63,P63 IP],499 111,353 313,518 Total 23,363,037 1284,173 5 , 8 7 9 , 9 62 1403,908 2020,739 1438,439 1201,304 4 0 7 6 , 1 96 975,407 527,701 1 0 1 2 , 3 20 928,541 2614,347 Held under repurchase agreement 84.000 -- 84.000 - Total U. S. Govt, sees. 23.447.037 1284.173 5.963.962 1401.908 2020.739 1438.439 1201.104 4076.196 975.407 527.701 1012.320 928.541 2614.347 Total loans & securities 24,316,021 1316,363 6,308,797 1467,665 2074,91 41481,569 1255,52 64222,326 1000,392 556,357 1040,874 942,341 2648,897 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,431,178 3 5 2 , 6 52 7527348 281,353 441,967 343,318 3 6 3 , 6 89 735,830 198,410 1 1 1 , 8 82 210,005 2 1 6 , 6 18 423,106 Bank premises 74,432 5,331 9,476 4,759 7,930 7,190 5,235 5,862 4,557 4,812 4,415 4,166 10,699 Other assets 197.806 1 0 . 5 18 48.828 1 1 . 5 08 17.275 11.977 10.041 36.244 8,031. 4.150 8.141 8.419 22*232- TOTAL ASSETS 51,579,304 2 8 0 7 , 9 91 1 3 , 1 9 0 , 7 52 2 9 3 8 , 1 87 4 5 7 7 , 7 06 3334,511 2632,355 9 0 2 8 , 1 60 2103,157 1 0 5 1 , 9 61 2 1 6 5 , 9 24 1935,833 5812,767 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

OF CONDITION OF EACH FEDER ARLESERVE BANK OR FEBRUARY 6, 1957 H.4.1(c) STATESMEN1 Total Boston New York d P e h l i p l h a i - a J j C l l a e n v d e - 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 a i n s co (In thousandso f dollars] L I A B I L I T I ES Federal Reserve notes 26,652,580 1573,775 6,220,738 1703,342 2530,776 2111,086 13 14,872 5138,620 1181,941 486,159 1 0 5 2 , 6 07 6 9 2 , 9 61 2645,703 Deposits: F U M O o . e t r S m h e . b e T i e r r g r e n a b s a . n -g k e r n e . se r a v c e c s t . 19, 2 1 3 3 8 3 8 1 8 9 6 3 , , , , 7 1 1 9 3 5 4 8 5 0 6 7 8 2 1 2 0 1 2 , , , 8 3 6 3 0 8 5 0 7 8 3 0 5 1 , / 1 7 1 7 4 2 0 1 9 7 8 , , , , 9 0 8 5 4 7 9 5 7 1 1 7 8 8 1 2 9 9 1 7 , , , , 1 6 8 0 6 4 8 2 5 9 8 0 1 5 1 3 1 1 , 4 7 8 7 , , , 3 7 0 5 4 6 7 5 0 2 5 3 , 8 8 2 1 5 4 0 9 1 , 3 , , 6 6 4 7 8 8 3 6 5 90 3 1 8 2 7 0 , , , , 5 2 3 7 3 4 7 4 7 0 0 4 3 1 5 4 0 , 4 1 3 5 , , 7 1 8 7 , 1 5 3 3 2 8 3 9 2 1 1 2 6 , 4 , 8 0 , 6 6 4 2 1 , 8 8 0 1 2 3 9 41 1 9 4 6 , , , 0 2 6 3 3 6 8 6 9 6 6 4 8 3 1 4 5 1 4 , 5 , , 3 0 , 6 8 4 1 6 9 9 1 8 9 95 1 2 9 6 0 3 , , , , 0 7 0 1 5 0 7 0 9 1 2 4 3 4 3 2 2 3 8 5 , , , 4 5 2 7 2 9 5 1 , 8 3 7 8 2 9 Total deposits 20,126,010 855,140 6,057,46b 937,722 1572,103 005,697 958,091 3135,422 724,079 440,355 905,297 998,936 2656,902 Deferred availability 562,273 207,372 359,500 270,266 299,074 570,502 147,376 92,676 157,253 179,073 369,202 cash items 3,518,491 303,924 Other liabilities and 461 556 484 448 1,839 accrued dividends 14,842 2733, 6 4 4 9 6 3 12,84 3 4 , , 8 3 71 ^ 6 8 72 2849,10 1 8 , 8 4 8 4 4 64,26 6 3 28 3267,67 — 7 2573, 6 5 72 0 96 04 2 7, , 6 2 8 2 1 5 2053,057 1019,746 2115,641 1"1 O0f7JI1 0 ,410 5673,646 TOTAL LIABILITIES 50,313,931 2 5 7 3 , 5 09 CAPITAL ACCOUNTS C S S u u a r r p p p i l l t 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 13 ) b ) 7 3 4 2 2 7 7 8 , , , 5 5 2 4 3 9 3 2 3 4 1 3 6 3 , , , 9 0 9 4 1 7 1 8 0 2 7 9 0 , 4 8 3 , , 1 2 0 7 9 0 2 2 4,4 8 2 5 9 0 2 , , 9 3 3 0 4 1 6 1 6 3 , , 1 0 3 , 0 4 9 4 6 3 7 1 3 5 3 7 , , , 0 3 5 5 4 9 9 9 4 1 3 5 3 , , 7 1 7 7 7 6 9 2 7 1 4 1 4 0 1 , , , 8 4 4 6 2 2 5 9 1 1 2 1 9 , , 5 2 3 2 1 3 1 6 1 1 7 1 8 , , , 0 2 5 7 2 3 3 0 7 2 1 7 1 3 , , , 1 1 9 6 3 8 1 7 3 1 3 1 8 7 , , , 1 3 5 3 0 0 6 7 8 8 3 2 2 9 , , r 4 l 1 1 5 4 3 8 0 Other capital accounts 162,005 10,569 36.811 11,355 14,597 10,832 9 , 1 28 24,220 8,232 5 , 3 85 8,002 7,464 15,410 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,579,304 2807.991 13,190.752 2938,18 74577.706 3334.51 12632,355 9028,16 02103,157 1051,96 12165,924 1935,833 5812,76%. Conting. liah. on acceptances purchased for foreign correspondents 62,371 3,619 2/ 17,505 4,368 5 , 6 16 3 , 1 82 2 , 8 08 8 , 8 61 2,309 1,498 2,371 3,245 6 , 9 89 8 68 — " 98 2,128 Industrial loan commit. 2.302 FEDERAL RESERVE AGENTS' ACCOUNTS ——-— n 6,544,541 1826,569 2617,99 92196,776 1400,385 5294,78 11235,320 545,079 1070,520 740,979 2015,391 F. R. note soutstanding 27,953,639 1649,291 Collat. for F. R. notes: Gold certificate acct. 11,868,000 580,000 •3 1 7 0 , 0 00 6 4 0 , 0 00 1 1 3 0 , 0 00 9 1 5 , 0 00 4 5 0 , 0 00 2 3 0 0 , 0 00 4 5 0 , 0 00 1 5 0 , 0 00 3 0 0 , 0 0c 2 8 3 , 0 00 1 5 0 0 , 0 00 Eligible paper 113,224 1- 6 1 , 5 60 - - - - 24,060 - 27,604 U. S. Govt, securities 17,205,000 1200,000 3 . 6 0 0 , 0 00 1 2 0 0 . 0 00 1 5 5 0 , 0 00 1350,000 1999,909 3100,000 900,000 4 6 0 , 0 00 ^ 8 2 0 , 0 00 525,000 1500,000 808,000 3000,000 Total collateral 29,186,224 1780^000 6 / 7 7 0 , 0 00 1 9 0 1 , 5 60 2600,000 2 2 6 5 , 0 00 1 4 5 0 , 0 00 5400,000 1 3 7 4 , 0 60 6 1 0 , 0 0 0" l/ After deducting $277,53 4,000 participationso f other Federa lReserve Banks, 2/ After deducting $44,8 66,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis