H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS ' For Immediate Release H.4.1 OF THE.FEDERAL RESERVE SYSTEM March 21, 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 ban kreserves for the week ending March 20 increased $550 million to $19,204 million. Estimated required reserves increased $375 million; and estimated excess reserves increased $175 million to $602 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $155 million, compared with $427 million the week before. The principal changes supplying average reserves were increases of $265 million in Federal Reserve float and $199 million in Federal Reserve holdings of U. S. Government securities, and decreases of $169 million in Treasury deposits with Federal Reserve Banks and $20 million in money in circulation. The principal offsetting change was a decrease of $97 million in member ban kborrowings. Total Reserve Bank credit increased $367 million. As of Wednesday, March 20, holdings of U. S. Government securities bought outright were $84 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $45 million higher, and member bank borrowings were $254 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Mar. 20, 1957 Mar. 13, 19571 Mar. 21, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,064 +130 -341 Held under repurchase agreement 114 +69 +11 Acceptances--bought outright 24 +1 +9 Loans, discounts, and advances-- Member bank borrowings 757 - 97 -177 Other 26 - 1 +25 Float 1,173 +265 -124 Total Reserve Bank credit 25,158 +367 -59& Gold stock 22,305 +1 +592 Treasury currency outstanding 5,080 + 1 + 67 52,543 +369 + 64 Money in circulation 30,589 - 20 +325 Treasury cash holdings 811 - 1 + 28 Treasury deposits with F. R. Banks 302 -169 -187 Foreign deposits with F. R. Banks 300 +3 - 33 Other deposits with F. R. Banks 199 - 2 -137 Other F. R. account s(net) 1,138 + 9 + 69 33,339 -180 + 63 Member bank reserves— 19,204 +550 — Required reserves (estimated) 1H7602 +375 + 15 Excess reserves (estimated) 602 +175 - 15 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 22,305 Treasury cash holdings 818 Treasury currency outstanding 5,081 Member bank) - Required (est.) 18,598 Money in circulation 30,516 reserves ) - Excess (est.) 246 On March 20, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,735 million, a decrease of $1 million for the week and a decrease of $83 million from the comparable date Digitized for FRASER http://frasae r.sytleouaisrfe da.ogrgo/ . 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. 20, Mar. 13, Mar. 21, 1957 1957 1956 A S S E TS Gold certificate account 20,764,39^ + 583,406 Redemption fund for F. R. notes 854.396 + 5,840 Total gold certificate reserves 21,616,790 2,ill + 589,246 F. R. notes of other Banks 414,420 3,508 + 116,318 Other cash 450,019 1,205 + 50,006 Discounts and advances 892,739 254,155 - 165,954 Industrial loans 783 18 + 133 Acceptances--bought outright 23,172 11 + 8,669 U. S. Government securities: Bought outright- Bills 380,955 84,500 - 136,045 Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 Bonds 2.801,750 Total bought outright 23,116,317 + 84,500 - 289,045 Held under repurchase agreement 81,800 + 44,600 + 81,800 Total U. S. Government securities 23,198,117 + 129,100 - 207,245 Total loans and securities 24,114,811 383,248 - 364,397 Due from foreign banks 22 Uncollected cash items 6,497,862 +1,520,935 + 766,036 Bank premises 75,645 + 220 + 11,393 Other assets 132,869 - 628 + 23,724 TOTAL ASSETS 53,304,438 +1,896,694 +1,192,326 L I A B I L I T I ES Federal Reserve notes 26,431,488 57,353 + 392,084 Deposits: Member bank reserves 18,843,638 + 310,637 + 111,822 U, S. Treasurer--general account 744,770 + 293,482 - 250,598 Foreign 300,088 + 7,738 - 25,374 Other 188,092 - 16.542 - 136,729 Total deposits 20,076,588 + 595,315 - 300,879 Deferred availability cash items 5,447,988 +1,347,608 + 994,473 Other liabilities and accrued dividends 17,881 + 704 1 4a TOTAL LIABILITIES 51,973,945 +1,886,274 +1,087,612 C A P I T AL A C C O U N TS Capital paid in 330,630 178 + 20,910 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 224,727 + 10,442 + 29.823 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 53,304,438 +1.896,694 +1.192,326 Ratio of gold certificate reserves to deposit + 1.2# and F. R. note liabilitie scombined 46.5$ Contingent liability on acceptances purchased for foreign correspondents 58,237 667 + 18,802 Industrial loan commitments 1.986 16 480 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 20, 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 863,370 99 6,946— 136,000 16 days to 90 days 29,369 360 16,226 326,755 91 days to 1 year 105 19,946,105 Over 1 year to 5 years 219 360,786 1,013,614 Over 5 years to 10 years 1.414,857 Over 10 years Digitized for FRASTEoR tal 892,739 753 23,172 23,198,117 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 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) A S S E TS Gold certificate account 20,764,394 971,059 6,248,630 1075,681 1896,750 1361,521 783,722 3300,970 838,888 264,749 841,532 729,194 2451,698 Redemption fund for F. R. notes 854,396 55,938 179,159 61,268 76,142 65,051 50,276 154,186 43,283 22,788 41,193 25,828 79,284 Total gold certificate reserves 21,618,790 1026,997 6,427,789 1136,949 1972,892 1426,572 833,998 3455,156 882,171 287,537 882,725 755,022 2530,982 F.R. notes of other Banks 414,420 21,296 74,673 26,447 36,288 24,571 99,558 32,856 8,765 13,176 6,812 35,507 34,471 Other cash 450,019 34,644 109,443 24,508 43,520 21,831 31,350 67,124 22,930 11,865 13,090 20,277 49,437 Discounts and advances 892,739 38,956 41,880 19,150 47,425 35,385 47,375 525,550 10,225 40,775 33,918 22,800 29,300 Industrial loans 783 335 411 37 Acceptances— Bought outright 23,172 23,172 U. S. Govt, securities: Bought outright— Bills 380,955 20,939 95,878 22,892 32,950 23,456 19,589 66,465 15,904 8,604 16,507 15,141 42,630 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 2,1 -L 5 ? 7 F , T 2 T 3 V, 6 515,065 741,367 527,733 440,733 1495,472 357,857 193,603 371,399 340,662 959,150 Bonds 2,801,750 1xy5t4.,vu00jL1 705,139 168,360 242,332 172,501 144,063 488,827 116,973 63,283 121,400 111,353 313,518 Total 23,116,317 1270,611 5,817,868 1389,083 1999,400 1423,249 1188,618 4033,150 965,106 522,128 1001,630 918,735 2586,739 Held under repurchase agreement. 81,800 81,800 Total U. S. Govt, sees. 23,198,117 1270,611 5,899,668 1389,083 1999,400 1423,249 1188,618 4033,150 965,106 522,128 1001,630 ,918,735 2586>739 Total loans & securities 24,114,811 1309,902 5,964,720 1408,644 2046,825 1458,634 1235,993 4558,700 975,331 562,940 1035,548 941,535 2616,039 Due from foreign banks 22 Uncollected cash items 6,497,862 501,297 1,2177007 435,241 573,750 488,291 506,969 1066,948 246,227 144,088 347,666 351,716 618,662 Bank premises 75,645 5,320 9,635 4,737 8,106 7,258 5,235 5,844 4,825 5,082 4,511 4,444 10,648 Other assets 132,869 7,028 32,040 7,734 11,280 8,035 6,746 25,091 5,294 2,976 5,506 6,167 14,972 TOTAL ASSETS 53,304,438 2906,485 13,835,313 3044,262 4692,663 3435,193 2719,850 9211,722 2145,544 1027,665 2295,859 2114,669 5875,213 l/ After deducting $16,000 participations of other Federa lReserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

U if ) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 20, 1957 H c I Phila- Cleve- L, , „ ^ St. Minne- Kansas Ban Total Boston New York | (Richmond Atlanta Chicago ^ouis | apolis City Dallas Francisco delpMa land (In thousands of dollars) LL II AA BB II LL II TT II EESS FFeeddeerraall RReesseerrvvee nnootteess 26,431,488 1554,501 6,207,844 1679,879 2508,551 2090,038 1281,480 5106,255 1176,573 481,449 1049,262 677,676 2617,980 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,843,638 837,259 5,371,569 898,155 1545,681 810,439 917,462 3001,429 688,795 389,128 880,555 1002,923 2500,243 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 744,770 543 736,667 342 575 568 562 471 523 2,018 502 536 1,463 FFoorreeiiggnn 300,088 16,936 1/90,115 20,440 26,280 14,892 13,140 41,464 10,804 7,008 11,096 15,184 32,729 OOtthheerr 188,092 593 115.206 9,827 820 5,275 1,675 2,779 1,583 446 8,516 2,704 38,668 TToottaall ddeeppoossiittss 20,076,588 855,331 6,313,557 928,764 1573,356 831,174 932,839 3046,143 701,705 398,600 900,669 1021,34? 2573,103 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 5,447,988 417,927 945,393 341,795 490,004 442,578 442,684 863,227 215,004 113,379 292,350 347,845 535,802 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 17,881 866 4.855 784 1.812 824 803 3,471 517 774 549 832 1,794. TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 51,973,945 2828,625 13,471,649 2951,222 4573,723 3364,614 2657,806 9019,096 2093,799 994,202 2242,830 2047,700 5728,679 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 330,630 17,098 95,055 20,966 31,848 15,119 15,924 45,077 11,291 7,257 13,270 18,379 39,346 43^48 208,002 52,301 66,393 37,594 33,179 110,421 29,331 18,520 27,983 37,508 82,413 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 747,593 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 13.803 53,288 15.284 19,693 14.517 12.179 35,699 10,602 6,613 10,639 9,775 22,635 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 224,727 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 53,304,438 2906.485 13,835,313 3044.262 4692,663 3435,193 2719,850 9211,722 2145,544 1027,665 2295,859 2114,669 5875,213 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr 3,352 2/16,679 4,046 5,202 2,948 2,601 8,207 2,139 1,387 2,196 3,006 6,474 fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 58,237 20 61 — — 97 — -- 1,808 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 1,986 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,585,808! 1623,240 6,502,694 1804,409 2592,256 2161,882 1349,312 5204,326 1219,973 540,412 1076,051 740,16? 2771,086 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,858,000 580,000 3,170,000 640,000 1130,000 915,000 450,000 2300,000 450,000 140,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 59,668 — — 17,400 — — — — 9,300 — 32,968 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17 090,000 1150,000 3,600,000 1200,000 1550,000 1310,000 1000,000 3100,000 875,000 46o,ooo 820,000 525,000 1500,000 29,007,66q 1730,000 6,770,000 1857,400 2680,000 2225,000 1450,000 5400,000 1334,300 600,000 1152,968 808,000 3000,000 TToottaall ccoollllaatteerraall 1/ After deducting $209,9*1 -8,000 participations of other Federal Reserve Banks, 2/ After deducting $41,5; >8,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis