H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.I OF THE FEDERAL RESERVE SYSTEM March 7, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily, figures of member ban kreserves for the week ending March 6 increased $38 million to $18,721 million, Estimated required reserves increased $35 million; and estimated excess reserves increased $3 million to $428 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $302 million, compared with $263 million the week before. The principal changes supplying average reserves were increases of $59 million in Federal Reserve holdings of U. S. Government securities, and $42 million in member ban kborrowings, and a decrease of $170 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $182 million in Treasury deposits with Federal Reserve Banks and $22 million in money in circulation, and a decrease of $38 million in Federal Reserve float. Total Reserve Bank credit increased $58 million. As of Wednesday, March 6, holdings of U. S. Government securities bought outright were $48 million higher than a week earlier and member bank borrowings were $346 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items MMaarr.. 66,, 11995577 Feb. 27, 19571 Mar. 7, 1956 (In mjLl lions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 22,895 + 41 -531 Held under repurchase agreement 18 + 18 - 74 Acceptances--bought outright 24 - 4 + 9 Loans, discounts, and advances— Member bank borrowings 730 + 42 - 19 Other 26 — — + 25 Float 1,179 - 38 +344 Total Reserve Bank credit 24,871 + 18 -247 Gold stock y 22,304 + 1 +609 Treasury currency outstanding 5,077 + 4 + 66 i 52,251 + 62 +427 Money in circulation / 30,566 + 22 +364 v Treasury cash holdings 81V-5 - 1 + 31 Treasury deposits with F. R. Banks 479 +182 + 18 Foreign deposits with F. R. Banks 329 - 5 - 31 Other deposits with F. R. Banks 212 -170 -115 Other F. R. account s(net) 1,131 - 3 +108 33,530 + 25 +375 Member bank reserves— 18,721 + 38 + 51 Required reserves (estimated) 18,293 + 35 +156 Excess reserves (estimated) 428 + 3 -105 . Jim 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: o Gold stock y 22,304 Treasury cash holdings y 8lfT Treasury currency outstanding 5,077 Member bank) - Required (est.) 18,246 Money in circulation ® 3 0 ,r e s e r v es ) - Excess (est.) 299 itf On March 6, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,663 million, a decrease of Digitize$d 5fo5r FRmAiSlElRi on for the week and a decrease of $153 million from the comparable http://fradsaetr.setl ouais feyde.oargr/ ago. Federal Reserve Bank of St. Louis

8.4.1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Mar. 6, Feb. 27, Mar. 7, 1957 1956 A SS E T S Gold certificate account 20,764,391 1 + 598,038 Redemption fund for F. R. notes 858,600 • 3,300 + 10,364 Total gold certificate reserves 21,622,991 - 3; 301 + 608,402 F. R. notes of other Banks 446,892 - 19,998 + 135,454 Other cash 465,094 - 4,693 + 43,301 Discounts and advances 797,027 + 345,711 + 146,553 Industrial loans 800 - 2 + 106 Acceptances—bought outright 22,911 - 2,470 + 7,409 U. S. Government securities: Bought outright— Bills 165,755 + 47,500 372,445 Certificates 11,362,199 +5 ,441,500 Notes 8,571,413 -- -5,594,500 Bonds 2,801,750 -- Total bought outright 22,901,117 47,500 525,445 Held under repurchase agreement — - 90,700 Total U, S. Government securities 22,901,117 + 47,500 - 616,145 Total loans and securities 23,721,855 + 390,739 - 462,077 Due from foreign banks 22 — — • Uncollected cash items 4,576,876 - 745,221 + 463,640 Bank premises 74,814 - 20 + 11,666 Other assets 120,316 + 14,942 - 18,751 TOTAL ASSETS 51,028,860 - 367,552 + 781,635 L I A B I L I T I ES Federal Reserve notes ~ 26,540,142 + 17,659 + 495,710 Deposits: Member bank reserves 18,544,537 - 70,877 + 26,430 U. S. Treasurer--general account 406,225 + 105,999 - 45,735 Foreign 319,506 + 18,915 - 36,900 Other 210,465 + 12,151 - 136,821 Total deposits 19,480,733 + 66,188 193,026 Deferred availability cash items 3,682,362 - 462,936 + 377,486 Other liabilities and accrued dividends 16,702 + 829 + 1,035 TOTAL LIABILITIES 49,719,939 - 378,260 681,205 C A P I T AL A C C O U N TS Capital paid in 330,284 + 125 + 21,197 Surplus (Section 7) 747,593 -- + 53,981 Surplus (Section 13b) 27,543 -•* Other capital accounts 203,501 + 10,583 + TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments CM trv °i & 51,028,860 - 367,552 + 781,635 47.056 .1% + 1.0# 57,952 - 212 + 18,806 1.971 + 1 - 464 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 6, 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 767,108 36 8,334 36,100 16 days to 90 days 4,919 430 14,577 129,655 91 days to 1 year 25,000 104 19,933,612 Over 1 year to 5 years 230 373,279 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Boo Total 797,027 22,911 22,901,117 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 6, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land (RichmondIAtlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,764,391 927,607 6,015,526 1034,345 1886,675 1361,031 784,182 3645,495 854,637 312,015 808,31$ 647,394 2487,168 -Redemption fund for F. R. notes 858,600 56,152 180,091 61,629 76,494 66,324 50,457 154.560 43,394 22,819 41,290 25,898 79,492 Total gold certificate reserves 21,622,991 983,759 6,195,617 1095,974 1963,169 1427,355 834,639 3800,055 898,031 334,834 849,606 673,292 2566,660 F.R. notes of other Banks #6,892 26,016 84,177 29,711 39,852 31,745 100,259 40,265 7,623 12,358 6,561 36,374 31,951 Other cash 465,094 36,346 115,845 26,972 48,053 23,048 32,228 68,538 21,445 11,253 12,641 17,425 51,300 Discounts and advances 797,027 65,006 116,575 80,040 46,702 28,635 47,687 276,680 8,575 44,050 45,677 13,800 23,600 industrial loans 800 335 426 -- —— 39 Acceptances— Bought outright 22,911 22,911 IU S. Govt, securities: Bought outright— Bills 165,755 9,111 41,717 9,960 14,336 10,206 8,524 28,919 6,920 3,743 7,182 6,588 18,549 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 * 001 705.139 168,360 242,332 172,501 144.063 488,827 116.973 63,283—121,400. 111,353 313*518 910,182 2562,658 Total 22,901,117 1258/783 5,763,^707 1376! 151 I960,'786 1409^999 1177,*553 3995,604 956,"122 517,267 992,305 Held under repurchase agreement 1258,783 5,763,707 1376.151 1980,786 1409,999 1177,553 3995,604 956,122 517,267 992,305 910,182 2562,658 Total U. »S. Govt. sees. 22,901,117 1324,124 5,903,193 1456,617 2027,488 1438,634 1225,240 4272,284 964,697 561,356 1037,982 923,982 2586,258 Total loans & securities 23,721,855 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,576,876 343,004 8237595 287,680 421,936 335,44? 375,802 737,493 186,565 124,238 249,288 223,836 467,992 4,276 10,649 Bank premises 74,814 5,316 9,526 4,737 7,883 7,258 5,235 5,844 4,637 4,957 4,496 28.756 6.836 10.790 7,236 6.104 22,836 4.806 2,658 4,.257- 5,459 13,463 Other assets 120,316 6,415 51,028,860 2724,981 13,160,715 2908,529 4519,173 3270,724 2579,508 8947,318 2087,805 1051,655 2165,532 1884,645 5728,275 TOTAL ASSETS l/ After deducting $16,000 participations of other Federal Reserve Batiks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 6, 1957 E. 4.1(c) Phila-j Cleve- St. Minne- Kansas Dallas San Total Boston New York delphla| land. Richmond Atlanta Chicago Louis apolis City Francisco (in thousands of dollars) LI A B I L I T I ES 1563,384 6,211,565 1687,344 2523,493 2098,595 1300,517 5116,982 ll80,08l 482,038 1053,768 680,166 2642,209 Federal Reserve notes 26,540,142 Deposits: 768,212 5,386,705 884,425 1487,931 798,206 913,601 2996,740 678,126 419,515 831,949 924,196 2454,931 Member bank reserves 18,544,537 501 398,182 297 508 588 548 521 589 2,015 515 587 1,374 U.S.Treas.-gen. acct. 406,225 18,212 1/ 93,715 21.980 28,260 16,014 14,130 44,588 11,618 7,536 11,932 16,328 35,193 Foreign 319,506 555 -129:926 9:750 1,717 5,198 3,500 1,216 9,586 497 7,575 3,019 37,926 Other 210,465 787,480 6,008,528 916,452 I5l6,4l6 520,006 931,779 3043,065699,919429,563851,971944,1302529,424 Total deposits 197550,733 Deferred availability cash items 3,682,362 296,583 577,521 212,315 358,105 282,085 285,543 595,753 156,398 106,345 207,182 193,626 410,906 Other liabilities and 812 5 092 747 1,976 735 737 3,037 48l 665 499 556 1,365 accrued dividends 16,702 25557259~12JB02t705~2BI^858 4401,990 3201,421 2518,576 8758,837 2036,879 1018,611 2113,420 1818,47» 5583,904 TOTAL LIABILITIES 59,719,939 CAPITAL ACCOUNTS Capital paid in 330,284 17,098 95,012 20,947 31,794 15,098 15,877 44,968 11,285 7,250 13,266 18,375 39,314 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 13b) 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 203,501 12,665 47,676 13,934 17,990 13,262 11,114 31,663 9,789 6,201 9,726 8,977 20,504 TOTAL LIABILITIES AND CAPITAL ACCOUNTS si.028.860 2724.981 13.i6q.715 2908.529 4519.173 3270.724 2579,508 8947,318 2087,805 1051,655 2165,532 1884,645 57gM75_ liab. on accept ances purchased for foreign correspondents 57,952 3,352 2/ 16,394 4,046 Industrial loan commit. FEDERAL RESERVE AGENTS ACCOUNTS F. R. notes outstanding 27,695,199 1633,213 6,510,015 1814,466 2603,617 2178,387 1364,051 5231,278 1221,568542,234 1078,091 739,811 2778,468 Collat. for F. R. notes: Gold 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 I. — 62,290 -- — — — 7,650 — 44,727 Eligible paper 114,667 1150,000 3,600,000 1200,000 1550,000 1310,000 1000,000 3ioo,ooo 875,000 460,000 820,000 525,000 1500,000 U. S. Govt, securities 17,090,000 1730,000 6,770,000 1902,290 2680,000 2225,000 1450,000 5400,000 1332,650 610,000 1164,727 808,000 3000,000 Total collateral 29,072,667 1/ After deducting $225,766,000 participations of other Federal Reserve Banks. 2/ After deducting $41,558,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis