H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF FEDERAL RESERVE SYSTEM February 14, 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 February 13 decreased $112 million to $18,808 million .Estimated required reserves decreased $168 million; and estimated excess reserves increased $$6 million to $434 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $282 million, compared with $23 7million the week before. The principal changes reducing average reserves were decreases of $171 million in Federal Reserve holdings of U. S. Government securities and $78 million in Federal Reserve float, and increases of $46 million in money in circulation and $33 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $101 millio nin member bank borrowings and a decrease of $157 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $149 million. As of Wednesday, February 13, holdings of U. S. Government securities bought outright were $229 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $10 million lower, and member bank borrowings were $319 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Feb. 13, 1957 Feb. 6, 1957 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,190 -221 -159 Held under repurchase agreement 74 + 50 + 74 Acceptances—bought outright 30 -- + 14 Loans, discounts, and advances-- Member bank borrowings 716 +101 -257 Other 26 + 22 Float 962 - 78 +130 Total Reserve Bank credit 24,997 -I49 -177 Gold stock 22,252 + 1 + 558 Treasury currency outstanding 5,070 + 1 + 60 52,319 -147 +442 Money in circulation 30,641 + 46 +394 Treasury cash holdings 820 + 3 + 20 Treasury deposits with F. R. Banks 377 -157 - 51 Foreign deposits with F. R. Banks 3 66 + 33 - 11 Other deposits with F. R. Banks 299 + 23 -101 Other F. R. accounts (net) 1,007 + 15 + 75 33,511 - 36 +326 Member bank reserves— 18,808 -112 +115 Required reserves (estimated) 18,374 -l68 +230 Excess reserves (estimated) 434 + 56 -115 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 22,252 Treasury cash holdings 828 Treasury currency outstanding 5,070 Member bank) - Required (est.) 18,333 Money in circulation 30,632 reserves ) - Excess (est.) 172 On February 13, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,745 million, an increase of $75 million for the week and a decrease of $30 millio nfrom 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 Feb. 13, Feb. 6, Feb. 15, 1957 1957 1956 A S S E TS Gold certificate account 20,704,391 + 9,998 + 548,039 Redemption fund for F. R. notes 863,518 - 3,532 + 8,746 Total gold certificate reserves 21,567,909 + 6,4b6 + 556,785 F. R. notes of other Banks 481,829 - 38,163 + 141,922 Other cash 458,519 - 19,891 + 24,226 Discounts and advances 519,505 - 319,231 - 467,312 Industrial loans 803 20 + 129 Acceptances--bought outright 28,832 593 + 13,348 U. S. Government securities: Bought outright— Bills 283,975 - 190,700 - 173,225 Certificates 10,918,699 - 14,000 +4,998,000 Notes 9,129,663 - 24,250 -5,036,250 Bonds 2,801,750 Total bought outright 23,134,007 - 228,950 - 211,475 Held under repurchase agreement 74,000 10,000 + 74,000 Total U. S. Government securities 23,208,087 - 238,950 - 137,475 Total loans and securities 23,757,227 - 558,794 - 591,310 Due from foreign banks 22 Uncollected cash items 5,023,563 + 592,385 - 220,232 Bank premises 74,577 + 145 + 11,625 Other assets 209,748 + 11,942 + 99,545 TOTAL ASSETS 51,573,394 5,910 + 22,561 L I A B I L I T I ES Federal Reserve notes 26,645,117 7,463 + 536,116 Deposits: Member bank reserves 18,504,571 - 684,164 - 300,306 U. S. Treasurer—general account 280,849 - 33,138 - 159,564 Foreign 303,505 - 82,645 - 75,740 Other 241,533 + 2,387 - 77,152 Total deposits 19,330,458 - 797,560 - 612,762 Deferred availability cash items 4,306,738 + 788,247 + 7,445 Other liabilities and accrued dividends 15,359 + 517 + 1,268 TOTAL LIABILITIES 50,297,672 - 16,259 - 57%933 C A P I T AL A C C O U N TS Capital paid"in " 328,789 + 557 + 21,147 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 171,797 +. 9,792 + 15.366 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,573,394 5,910 + 22,561 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.9$ + 1.3# Contingent liability on acceptances purchased for foreign correspondents 62,324 47 31,830 Industrial loan commitments 2.297 5 180 MATURITY DISTRIBUTION OF LOANS AND SECURITIES FEBRUARY 13, 1957 r (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 489,330 36 14,075 5,287,650 16 days to 90 days 5,175 65 14,757 582,325 91 days to 1 year 25,000 471 -- 14,536,362 Over 1 year to 5 years 231 -- 373,279 Over 5 years to 10 years 1,013,614 -- Over 10 years - - 1,414,857 Digitized for FRATSoERt al 519,505 m 28,832 23^208,087 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 13, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia . land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,704,391 905,466 5,662,25k 1116,490 1942,113 1307,445 836,648 3824,180 807,383 297,191 831,413 663,990 2509,818 Redemption fund for F. R. notes 863,518 56,423 181,160 62,055 76,893 67,843 50,681 154,971 43,526 22,849 41,380 26,002 79,735 Total gold certificate reserves 21,567,909 961,889 5,843,414 1178,545 2019,006 1375,288 887,329 3979,151 850,909 320,040 872,793 689,992 2589,553 F.R. notes of other Banks 481,829 31,322 84,706 35,212 41,163 42,529 87,236 45,485 9,831 18,123 9,044 39,111 38,067 Other cash 458,519 37,067 102,721 26,288 39,055 26,430 35,619 70,193 23,147 11,313 13,636 17,350 55,700 ^Discounts and advances 519,505 37,450 141,635 35,245 57,030 18,895 42,675 93,238 23,085 10,630 35,572 10,500 13,550 .Industrial loans 803 335 428 40 Acceptances- Bought outright 28,832 28,832 U. .S. Govt, securities: -Bought outright— .Bills 283,975 15,609 71,471 17,063 24,562 17,485 14,602 49,545 11,855 6,4l4 12,305 11,286 31,778 "Certificates 10,918,699 600,157 2,747,996 656,116 944,391 672,253 561,429 1905,007 455,856 246,621 473,107 433,953 1221,813 Notes 9,129,663 501,821 2,297,735 548,611 789,652 562,104 469,438 1592,871 381,164 206,212 395,588 362,849 1021,618 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 23,134,087 1271,588 5,822,341 1390,150 2000,937 1424,343 1189,532 4036,250 965,848 522,530 1002,400 919,441 2588,727 Held under repurchase mmm 7k,000 — *" — — — — ~ — — — — — •* W W agreement 74,000 Total U. S. Govt, sees. 23,208,087 1271,588 5,896,341 1390,150 2000,937 1424,343 1189,532 4036,250 965,848 522,530 1002,400 919,441 2588,727 Total loans & securities 23,757,227 1309,373 6,066,808 1425,823 2057,967 1443,238 1232,207 4129,488 988,933 533,200 1037,972 929,941 2602,277 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,023,563 422,789 8307518 -292,715 506,026 422,444 436,659 773,303 223,349 135,817 243,617 266,461 469,865 Bank premises 74,577 5,347 9,476 4,759 7,931 7,191 5,236 5,862 4,571 4,812 4,415 4,278 10,699 Other assets 209,748 11,105 52.090 12,160 18.120 12,776 10,652 38,412 8,455 4,652 8,854 8,980 23,492 TOTAL ASSETS 51,573,394 2778,893 12,989,739 2975,504 4689,270 3329,897 2694,939 9041,897 2109,196 1027,958 2190,332 1956,114 5789,655 l/ 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 FEBRUARY 13, 1957 g.4.l(c) St. Minne- Kansas Phila Cleve- Dallas Total Boston I New York delphia land IRichmond Atlanta Chicago Louis apolis City Francisco [T» thousands of dollars] L I A B I L I T I ES 26,645,117 1573,386 6,232,907 1702,313 2532,565 2105,471 1309,584 5140,560 ll80,84i 484,4o4 1052,320 689,153 2641,613 Federal Reserve notes Deposits: 390,695 868,189 946,294 2499,502 Member bank reserves 18,504,571 15,392 21,018 22,367 26,899 U.S.Trees.-gen. acct. 280,849 7,056 11,172 15,288 32,953 Foreign 303,505 409 3,424 2,6l4 39,142 Other 241,533 622 177,769 9,823 986 3,293 1,759 527 1,165 2590,49b 826,099 5,670:^1 833:;u sgs:«i #>>*» Total deposits 19,330,450 Deferred availability 97,063 182,890 214,897 407,395 4,306,738 303,674 733,537 276,934 483,914 322,580 366,810 739,154 177,890 cash items Other liabilities and 693 1,712 703 555 2,749 529 507 573 576 2,053 accrued dividends 15,359 5703,773 12,64( 4 ^ , 6 0 6 9 0 5 2 885,797 4574)055 3202,467 2b35,602 (#59,106 2059,494 995,52b 2139,58b 1^91,1^9 5049,557 50,297,672 TOTAL LIABILITIES CAPITAL ACCOUNTS C S S a u u p r r i p p t l l a u u l s s ( ( 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 7 5 8 9 4 9 3 3 4 1 3 7 3 , , , 9 0 0 9 4 1 2 1 8 2 9 0 4 7 8 , , , . 2 3 0 4 1 9 0 6 9 6 2 2 2 5 1 0 4 2 1 , , , , 9 4 3 9 3 8 0 7 9 9 1 8 6 3 1 6 1 5 1 , , , , 3 5 0 4 9 7 0 4 3 6 0 6 1 l 3 5 l 3 7 , , , , 0 3 5 4 7 4 9 l 3 9 4 4 1 3 9 5 3 , , , 7 7 6 1 9 6 0 7 1 5 9 2 1 4 2 1 4 0 5 1 , , , , 8 4 4 9 2 2 9 9 9 1 0 1 2 1 9 8 1 , , , 3 5 2 6 3 2 4 0 1 1 3 7 1 7 8 1 5 , , , , 2 6 5 0 3 0 7 2 8 1 3 0 1 3 1 2 ,2 , 7 1 1 , 6 8 3 9 , 7 8 4 3 1 0 1 3 7 8 1 7 , , , , 2 3 8 5 7 0 3 0 7 4 6 8 8 3 1 2 2 9 6 , , , , 4 1 1 3 6 1 4 8 1 3 0 4 Other capital accounts 171,797 TOTAL LIABILITIES AND 2778 SOT 12.960.739 1(689,270 3329.897 26*.9% **1.897 2109.196 1027,958 2190.332 1956,U» 5789,655 CAPITAL ACCOUNTS 51.573,394 Conting. liab. on acceptances purchased for 2.808 2,371 foreign correspondents 62,324 3,619 2/ 17,458 commit FEDERAL AGENTS' ACCOUNTS 1500,000 150,000 300,000 283,000 C Ot o M = e " m = a t =na = 1 t: n, 8 6 8 , 0 00 , 8 0 , 0 00 3,170,000 A O , 0 00 1130,000 915,000 450,000 2300,000 450,000 34,622 460,000 820.000 525,000 1500,000 i r e r - . z c ct iz - ' S S S s1- cc 610.000 1154.622 808.000 3000,000 y, t E SS - o- = = S =: Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis