H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE fe^STEM March 14, 1957 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESE&VE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending March 13 decreased $67 million to $18,654 million. Estimated required reserves decreased $44 million; and estimated excess reserves decreased $23 million to $405 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $449 million, compared with $302 million the week before. The principal changes reducing average reserves were a decrease of $271 million in Federal Reserve float and an increase of $44 million in money in circulation. The principal offsetting changes were increases of $124 million in member bank borrowings and $66 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $80 million. As of Wednesday, March 13, holdings of U. S. Government securities bought outright were $131 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $37 million higher, and member bank borrowings were $158 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Mar. 13» 1957 , Mar7 6. 1957 I Mar. 14, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 22,934 + 39 -476 Held under repurchase agreement 45 + 27 - 50 Acceptances—bought outright 23 - 1 +7 Loans, discounts, and advances-- Member bank borrowings 8$4 +124 -121 Other 27 +1 +26 Float 908 -271 + 96 Total Reserve Bank credit 24,791 - 80 -517 Gold stock 22,304 — +587 Treasury currency outstanding 5,079 +_ 2 + 68 52,174 - 77 +137 Money in circulation 30,609 + 44 +333 Treasury cash holdings 812 - 2 + 33 Treasury deposits with F. R. Banks 471 - 8 - 93 Foreign deposits with F. R. Banks 297 - 32 - 63 Other deposits with F. R. Banks 201 - 11 -145 Other F. R. accounts (net) 1,129 - 2 +108 33,519 - 11 +173 Member bank reserves-- 18,654 - 67 - 37 Required reserves (estimated) 18,249 - 44 + 67 Excess reserves (estimated) 405 - 23 -104 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 22,304 Treasury cash holdings 815 Treasury currency outstanding 5,079 Member bank) - Required (est.) 18,356 Money in circulation 30,567 reserves ) - Excess (est.) 177 On March 13, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,736 million, an increase of $73 million for the week and a decrease of $86 million from the comparable date Digitized afo r yFReAaSrE Ra go. 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 Mar. 13, Mar. 6, Mar. 14, 1957 1957 1956 A SS E T S Gold certificate account 20,764,392 1 + 561,404 Redemption fund for F. R. notes 856,566 2,034 + 20,092 Total gold certificate reserves 21,680,950 2,033 + 581,496 F. R. notes of other Banks 417,928 - 28,964 + 106,780 Other cash 451,224 - 13,870 + 48,403 Discounts and advances 638,584 - 158,443 - 63,283 Industrial loans 801 + 1 + 97 Acceptances—"bought outright 23,161 + 1 250 + 7,658 U. S. Government securities: Bought outright-- Bills 296,455 + 130,700 - 224,945 Certificates 11,362,199 +5,441,500 Notes 8,571,413 -5,594,500 Bonds 2,801,750 Total bought outright 23,031,817 + 130,700 - 377,945 Held under repurchase agreement 37,200 +_ 37,200 - 36,500 Total U. S. Government securities 23.069,017 + 167,900 - 414,445 Total loans and securities 23,731,563 9,708 - 469,973 Due from foreign "banks 22 Uncollected cash items 4,976,927 + 400,051 109,918 Bank premises 75,425 + 611 11,487 Other assets 133,497 +_ 13,181 16,431 TOTAL ASSETS 51,407,544 378,684 151!844 L I A B I L I T I ES Federal Reserve notes 26,488,841 51,301 + 433,489 Deposits: Member bank reserves 18,533,001 - 11,536 r 18,971 U. S. Treasurer—general account 451,288 + 45,063 - 109,873 Foreign 292,350 - 27,156 - 47,203 Other 204,634 5,831 - 146,471 Total deposits 19,481,273 + 5%0 - 322,518 Deferred availability cash items 4,100,380 + 418,018 - 62,559 + 626 Other liabilities and accrued dividends 11421 + 475 TOTAL LIABILITIES 50,087,671 + 367,732 + 49,038 C A P I T AL A C C O U N TS Capital paid in 330,452 168 + 21,235 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 214,285 +_ 10,784 +_ 27,590 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,407,544 + 378:684 + 151,844 Ratio of gold certificate reserves to deposit 1,1# and F. R. note liabilities combined 47.0# Contingent liability on acceptances purchased for foreign correspondents 58,904 952 18,265 Industrial loan commitments 1.970 1 441 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 13, 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 608,069 36 7,725 73,400 16 days to 90 days 30,515 430 15,436 260,255 91 days to 1 year 105 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 Digitized for FRATSoERt al 638,584 Sol 23,161 23,069,017 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

.4.1(b) STATEMENT OF C0NDIT][ ON OF EACH FEDERAL RESERVE BANK ON I1 ARCH 13, 1957 Total Boston New York d P e h l i p l h a i - a CJ l - a e n v® d " I Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s Ka Ci n t s y a - s Dallas Fra S n a ci n s co A S S E TS old certificate account 20,764,392 940,722 5,972,200 1047,553 1885,702 1348,301 799,727 3672,015 824,253 298,102 824,835 647,501 2503,481 ademption fund for F. R. notes 856.566 56,0% 179.619 61.457 76.325 65,706 50,370 154.379 43,342 22.805 41,245 25,869 79.396 'otal gold certificate 996,775 6,151,819 1109,010 1962,027 1414,007 850,097 3826,39k 867,595 320,907 866,080 673,370 2582,877 reserves 21,620,958 *.R, notes of other Banks 417,928 20,090 76,343 27,090 36,838 26,538 101,248 35,248 8,324 12,440 5,902 35,652 32,215 >ther cash 451,224 34,763 110,128 25,430 41,702 22,449 34,176 69,514 21,715 12,189 12,872 17,740 48,546 discounts and advances 638,584 63,682 87,320 29,805 64,925 17,355 47,370 226,180 9,125 29,860 40,512 12,000 10,450 industrial loans 801 335 427 39 kcceptances-- Bought outright 23,161 23,161 f.S. Govt, securities: Bought outright— Bills 296,455 16,295 74,612 17,814 25,641 18,253 15,244 51,722 12,376 6,696 12,846 11,782 33,174 Certificates 11,362,199 624,535 2 < , : 8 ,0 5 7 9 > ,6 ,0 1 x 5 p 682,766 982,751 699,559 584,233 1982,386 474,372 256,638 492,324 — 4 »— 5 r 1 - , — 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 2.801,750 154,001 705.139 168,360 242,332 172.501 144,063 488,827 116,973 63,283 121,400 111,353 313,518 Total 23,031,817 1265I967 5,796,602 1384,005 1992,091 l4l8,046 1184,273 4018,407 961,578 520,220 997,969 915,376 2577,283 Held under repurchase agreement 37,200 37,200 "otal U. S. Govt, sees. 23,069,017 1265,967 5,833,802 1384,005 1992,091 1418,046 1184,273 4018,407 961,578 520,220 997,969 915,376 2577,283 1329,984 5,944,283 1414,237 2057,016 1435,401 1231,643 4244,587 970,703 550,119 1038,481 927,376 2587,733 'otal loans & securities 23,731,563 iue from foreign banks 22 1 l/ 6 2 2 1 1 3 1 1 1 1 n 8767526 293,416 462,570 380,320 434,367 835,516 214,245 129,054 246,658 257,735 ^77,208 Uncollected cash items 4,976,927 369,312 9,526 4,737 8,134 7,258 5,235 5,844 4,812 4,957 4,510 4,444 10,648 lank premises 75,425 5,320 ither assets 133,497 7,048 32396 7,620 11,560 8.071 6,796 25,138 5.347 2,948 5.557 5,992 15,024 TOTAL ASSETS 51,407,544 2763,293 13,201,027 2881,542 4579,849 3294,045 2663,563 9042,244 2092,742 1032,615 2180,061 1922,310 5754,253 / After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H k lfrl STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 13, 1957 Total Boston New York , ^1 CJ£3" Richmond Atlant* Chicago ^ Sty" Dallas FranSsco (In thousands of dollars) LL II AA BB II LL II TT II EESS 1558,345 6,207,737 1682,912 2517,966 2093,441 1289,876 5109,668 1178,475 481,676 1053,362 681,081 2634,302 FFeeddeerraall RReesseerrvvee nnootteess 26,488,841 DDeeppoossiittss:: 781,137 5,296,114 870,708 1516,418 801,138 930,397 3015,608 675,052 398,526 845,015 927,634 2475,254 MMeemmbbeerr bbaannkk rreesseerrvveess 18,533,001 567 442,650 594 566 561 558 578 502 2,031 610 566 1,505 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 451,288 16,472 1/ 88,129 19,880 25,560 14,484 12,780 40,328 10,508 6,816 10,792 14,768 31,833 FFoorreeiiggnn 292,350 448 ' 132.803 9,881 1,014 4,959 1,779 1,105 1,702 318 8,098 2,542 39*985, OOtthheerr 204,634 798,624 5,959,696 901,063 1543,558 821,142 945,514 3057,619 607,764 407,691 064,515 945,510 2540,577 TToottaall ddeeppoossiittss 19,481,273 DDeeffeerrrreedd aavvaaiillaabbiilliittyy 328,197 668,051 204,375 398,342 308,672 365,994 681,136 174,579 109,347 208,997 228,438 424,252 ccaasshh iitteemmss 4,100,380 OOtthheerr lliiaabbiilliittiieess aanndd 829 4,679 826 1,876 851 684 3,336 585 , 648 613 —713 1'?37 aaccccrruueedd ddiivviiddeennddss 17,177 2685,995 12,840-163 2789,176 4461,742 3224,106 2602,068 8851,759 2041,403 999,362 2127,407 1055,742 5600,660 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 50,087,671 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 17,098 95,065 20,947 31,824 15,108 15,910 44,989 11,290 7,254 13,266 18,378 39,323 CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 330,452 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 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 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 3 oil 7*319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 214,285 13 241 50,478 14,629 18,884 13,888 11,644 33,646 10,197 6,4o6 10,188 9,375 21,709 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD 2763 293 13,201,027 2881,542 4579,849 3294,045 2663,563 9042,244 2092,742 1032,615 2180,061 1922,310 5754,253 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 51,407,544 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr 3,387 2/ 16,915 4,088 5,256 2,978 2,628 8,293 2,l6l 1,401 2,219 3,037 6,541 fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 58,904 __ 4 61 -- — 97 -- -- 1,808 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 1,970 1627,919 6,^7^472 3^09^^1 259^^3^^!^33^^1354?860 5214,218 1221,244 42,20l 1080,88l #0,628 2781,876 FF.. RR.. nnootteess oouuttssttaannddiinngg 27,617,136 5 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 55,817 -- -- 8,055 — -- -- — 8,200 -- 39,562 — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,090,000 1150,000 3,600,000 1200,000 1550,000 1310,000 1000,000 3100,000 875,000 460,000 820,000 525,000 1500,000 TToottaall ccoollllaatteerraall 129,013,817 1730,000 6,770,000 1848,055 2680,000 2225,000 1450,000 5400,000 1333,200 610,000 1159,562 808.000 3000.000 1/ After deducting $204,196,000 participations of other Federal Reserve Banks. 2/ After deducting $41,989,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis