H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM February 28, 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 27 decreased $212 million to $18,683 million. Estimated required reserves decreased $76 millionj and estimated excess reserves decreased $136 million to $369 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $319 million, compared with $47 million the week before. The principal changes reducing average reserves were a decrease of $115 million in Federal Reserve holdings of U. S. Government securities, and increases Of $156 million in "other" deposits with Federal Reserve Banks, $124 million in Treasury deposits with Federal Reserve Banks, and $27 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $136 million in member bank borrowings and $29 million in Federal Reserve float, and a decrease of $6l million in money in circulation. Total Reserve Bank credit increased $49 million. As of Wednesday, February 27# holdings of U. S. Government securities bought outright were $31 million lower than a week earlier and member bank borrowings were $392 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Feb. 27, 1957 Feb. 20, 19571 Feb. 29, 1956 (In millions of dollars) Reserve Bank credit: U, S. Government securities— Bought outright—System account 22,854 -104 -530 Held under repurchase agreement -»«•» - 11 - 51 Acceptances—bought outright 28 - 1 + 13 Loans, discounts, and advances— Member bank borrowings 688 +136 - 70 Other 26 - — + 25 Float 1,217 + 29 +337 Total Reserve Bank credit 24,813 + 49 -276 Gold stock 22,303 - - +608 Treasury currency outstanding 5,073 + 2 + 6l 52,189 + 51 +393 Money in circulation 30,544 - 6l +363 Treasury cash holdings 815 -- + 23 Treasury deposits- with F. R. Banks 297 +124 -245 Foreign deposits with F. R. Banks 334 + 27 - 20 Other deposits with F. R. Banks 382 +156 + 76 Other F. R. accounts (net) 1,134 + 18 +109 33,505 +263 +305 Member bank reserves-- 18,683 -212 + 87 Required reserves (estimated) 18,314 - 76 +177 Excess reserves (estimated) 369 -136 - 90 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 22,303 Treasury cash holdings 822 Treasury currency outstanding 5,076 Member bank) - Required (est.) 18,340 Money in circulation 30,516 reserves ) - Excess (est.) 275 On February 27, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,718 million, a decrease of $46 million for the week and a decrease of $75 million from the comparable date Digitized for FRASER http://fraase ry.setloauris feadg.oorg./ Federal Reserve Bank of St. Louis

E.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 27, Feb. 20, Feb. 29, 1957 11995577,, 1956 A S S E TS Gold certificate account 20,764,392 + X + 660088,,004411 Redemption fund for F. R. notes 861,900 -- + , 7,129 Total gold certificate reserves 21,626,292 + 1 + 615,170 F. R. notes of other Banks 466,890 - 2,521 + 136,48? Other cash 469,787 - 899 + 26,560 392,250 180,252 Discounts and advances 451,316 - Industrial loans 802 + 12 + 107 Acceptances—bought outright 25,381 - 1,857 + 10,897 U. S. Government securities: Bought outright-* Bills 118,255 - 23,020 - 441199,,994455 Certificates 11,362,199 - 4,000 +5 ,441,500 Notes 8,571,413 - 3,500 -5,594,500 Bonds 2,801,750 -- Total bought tiutright 22,853,617 - 30,520 - 572,945 Held under repurchase agreement — - ,,55,900 Total U. S. Government securities 22,853,617 - 30,520 - 628,845 Total loans and securities 23,331,116 424,615 798,093 Due from foreign banks 22 — - -- Uncollected cash items 5,322,097 - 41,832 + 812,605 Bank premises 74,834 - 51 + 11,758 Other assets 105,374 + 12,515 - 22,928 TOTAL ASSETS 51,396,412 - 457,402 •f 781,559 L I A B I L I T I ES Federal Reserve notes ~ " 26,522,483 54,831 + 492,996 Deposits: + 187,310 Member bank reserves 18,615,414 - 419,074 - 253,330 U. S. Treasurer--general account 300,226 + 149,711 Foreign 300,591 + 5,520 - 62,848 Other 198,314 + 932 - 107,178 Total deposits 19,414,545 - 262,911 - 236,046 Deferred availability cash items 4,145,298 - 152,518 + 426,884 Other liabilities and accrued dividends 15,873 + 32 TOTAL LIABILITIES 50,098,199 + 663,866 C A P I T AL A C C O U N TS Capital paid in 330,159 879 + 21,390 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 192,918 + 10,582 22,322 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,396,412 - 457,402 + 781,559 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.1$ .3% 1.1$ Contingent liability on acceptances purchased for foreign correspondents 58,164 5,103 21,578 Industrial loan commitments 1.970 334 Mi MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 27, 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 419,903 35 8,932 51,500 16 days to 90 days 6,413 83 16,449 66,755 91 days to 1 year 25,000 455 19,933,612 Over 1 year to 5 years 229 373,279 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRTAoStEaRl 451,316 502 25,381 22,853,617 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF, CONDITION OF EACH FEDERAL RESERVE BAM ON FEBRUARY 27, 1957 Phila Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City DDaallllaass Francisco (in thousands of dollars) A S S E TS Gold certificate account 20,764,392 927,853 5,895,966 1033,800 1860,049 1335,060 824,050 3856,675 804,190 316,369 821,611 643,211 2445,558 Redemption fund for F, R. notes 861,000 56.325 180.824 61.896 76.758 67.366 SO.606 154.827 43.478 22,836 41,349 , 25,972 79,643 Total gold certificate 862,960 669,183 2525,221 reserves 21,626,292 984,178 6,076,790 1095,696 1936,807 1402,426 874,656 4011,502 847,668 339,205 37,161 F.R. notes of other Banks 466,890 27,739 86,722 31,724 42,460 33,792 96,996 43,762 9,006 14,752 7,478 35,298 Other cash 469,787 37,721 112,323 27,358 42,139 25,186 35,831 70,061 23,513 11,994 13,577 16,493 53,591 Discounts and advances 451,316 41,764 29,275 14,350 37,102 28,380 58,372 102,580 11,150 46,595 23,477 37,071 21,200 Industrial loans 802 335 428 39 Acceptances— Bought outright 25,381 - - 25,381 " -- -- -- -- " U. S. Govt, securities: Bought outright— Bills 118,255 6,500 29,763 7,106 10,228 7,281 6,081 20,631 4,936 2,671 5,124 4,700 13,234 Certificates 11,362,199 624,535 2,859,615 682,766 982,751 699,559 584,233 1982,386 474,372 256,638 492,324 451,579 1271,441 Notes 8,571,413 471,136 2,157,236 515,065 741,367 527,733 440,733 1495,472 357,857 193,603 371.399 340,662 959,150 Bonds 2.801.750 154.001 705.139 168.360 242.332 172.SOI 144.063 488.827 3.16,973 63,283 121.400 111,353 313,518 Total 22,853,617 1256,172 5,751,753 1373,297 1976,678 1407,074 1175,110 3987,316 954,138 516,195 990,247 908,294 2557,343 Held under repurchase agreement Total U. S. Govt, sees. 22.853,617 1256,172 5.751.753 1373.297 1976,678 1407,074 1175.110 3987,316 954,138 516,195 990,247 908,294 2557,343 Total loans & securities 23,331,116 1298,271 5,806,409 1388,075 2013,780 1435,454 1233,482 4089,896 965,288 562,829 1013,724 945,365 2578,543 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,322,097 400,187 980,497 348,494 524,510 390,499 397,385 919,128 218,430 123,742 245,850 284,022 489,353 Bank premises 74,834 5,316 9,549 4,737 7,883 7,260 5,223 5,862 4,638 4,957 4,482 4,278 10,649 Other assets 105,374 5,475 25,134 5,879 9,090 6.486 5.353 20,240 4,147 ,2,327 4.396 5,004 11,843 2758,888 2901,965 4576,671 2072,691 TOTAL ASSETS 51,396,412 13,097,430 3301,104 2648,927 9160,454 1059,807 2152,468 1959,644 5706,363 1/ After deducting $3.6,000 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 27, 1957 E.4.1(c) Total Boston Hew York d P e h l i p l h a i - a 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 thousands of dollars) L I A B I L I T I ES 1562,794 6,211,096 1688,487 2522,234 2102,672 1298,664 5116,071 1177,808 480,758 1052,246 682,801 2626,852 Federal Reserve notes 26,522,483 Deposits: Member bank reserves l8,6l5,4l4 778,195 5,347,171 856,903 1505,818 804,890 934,837 3090,163 661,669 431,160 832,489 945,257 2426,862 U.S.Treas.-gen. acct. 300,226 523 291,705 689 500 523 560 515 586 1,918 513 571 1,623 F O o t r h e e i r g n 1 3 9 0 8 0 , ,5 3 9 1 1 4 1 6 7 , , 4 4 2 7 5 9 4 8 8 5 ,8 1/ 5 8 1 0 4 2 , , 2 7 1 1 , 4 4 1 7 9 1 888 2 1 , 1 9 0 , 1 , 0 2 8 7 5 0 6 2 1 1 7 , 5 2 , 3 0 4 4 1 9 , 0 649 8 3 1 , 2 5 0 3 , 1 3 , 8 7 5 1 1 82 ,6 9 1 5 3 1 0 1 3 ,5 , , 0 5 5 5 5 4 4 5 3 4 1 2 3 ,7 4 4 , 2 474 1 1 6 , 1 7 4 , 4 0 1 , 4 3 7 7 9 6 44 7 0 , , 2 6 3 2 0 0 4 6 4 1 8 6 1 5 ,0 , 0 4 6 , 3 5 9 8 09 1 9 2 5 6 ,7 , 4 6 4 , 5 4 2 2 24 4 2 3 3 5 3 , 0 , 1 7 5 3 2 , 7 2 3 44 Total deposits 19,414,5^5 79 Deferred availability 322,725 676,594 232,806 401,767 305,219 338,643 720,473 169,080 105,018 197,451 246,047 429,475 cash items 4,145,298 Other liabilities and 711 4,316 752 1,780 766 637 2,893 514 542 617 781 1,564 accrued dividends 15,873 2682,704 12,742,220 2810,963 4460,430 3232,439 2588,499 8973,911 2022,198 1026,924 2100,823 1893,853 5563,235 TOTAL LIABILITIES 50,098,199 CAPITAL ACCOUNTS 31,749 15,085 15,854 44,966 11,265 7,246 13,252 18,375 39,314 C Su a r p p i l t u a s l ( p S a e i c d t i i o n n 7) 7 3 4 3 7 0 , , 5 1 9 5 3 9 4 1 3 7 , , 9 0 4 9 8 8 2 9 0 5 8, ,0 0 1 0 1 2 2 5 0 2 , , 9 3 4 0 4 1 66,393 37,594 33,179 110,421 29,331 18,520 27,983 37,508 82,413 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 8 1 , ,3 6 0 0 7 1 2 , I 1 9 4 , 0 26l Other capital accounts 192,918 12,127 44,878 13,268 17.093 12,637 10,633 29,727 9,376 6,044 9,273 TOTAL LIABILITIES AND 2758,888 13,097,430 2901,965 4576,671 3301,104 2648,927 9l6o,454 2072,691 1059,807 2152,468 1959,644 5706,363 CAPITAL ACCOUNTS 51,396,412 Conting. liab. on acceptances purchased for 58,l64 3,376 2/ 16,318 4,074 5,238 2,968 2,619 8,265 2,153 1,397 2,212 3,026 6,5l8 foreign correspondents 98 — -- 1,808 — —— — — 3 61 Industrial loan commit. 1,970 FEDERAL RESERVE AGENTS' ACCOUNTS .. . , 542,%84 1076,549 '/4j,719 2/8i,y4^ 1640,498 6,518,003 1818,537 2607,395 2188,6l|> Ubb,y8u ^46,957 iz%8,8j4 F. R. notes outstanding 27,762,313 Collat. for F. R. notes: 150,000 300,000 283,000 1500,000 580,000 3,170,000 64o,ooo 1130,000 915,000 450,000 2300,000 450,000 Gold certificate acct. 11,868,000 12,600 — — — — 10,225 22,527 Eligible paper 45,352 460,000 820,000 525.OOO 1500,000 U. S. Govt, securities 17,090,000 1150,000 3.600.000 1200,000 1550,000 1310,000 1000,000 3100,000 875,000 610,000 1142,527 808,000 3000,coo 1730,000 6.770,000 1852,600 2680,000 2225,000 1450,000 5400,000 1335,225 Txoottaajl. ccooil-liaatteerraail {29,003, 3521 j- r vw 1/ After deducting $216,419,000 participations of other Federal Reserve Banks, 2/ After deducting $41,846,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis M