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 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 March 27 decreased $233 million to $18,971 million. Estimated required reserves decreased $195 million; and estimated excess reserves decreased $38 million to $565 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $254 million, compared with $154 millio nthe week before. The principal changes reducing average reserves were decreases of $206 million in Federal Reserve float and $84 million in Federal Reserve holdings of U. S. Government securities, and increases of $51 million in Treasury deposits with Federal Reserve Banks and $34 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $87 million in money in circulation and an increase of $62 million in member bank borrowings. Total Reserve Bank credit decreased $228 million. As of Wednesday, March 27, holdings of U. S. Government securities bought outright were $76 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $56 million lower, and member bank borrowings were $276 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Mar. 27, 1957 Mar. 20, 1957 I Mar. 28, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,051 - 13 -444 Held under repurchase agreement 43 - 71 + 30 Acceptances—bought outright 23 - 1 +9 Loans, discounts, and advances— Member bank borrowings 819 + 62 -377 Other 26 — +25 Float 967 -206 + 26 Total Reserve Bank credit 24,930 -228 -731 Gold stock 22,305 — +590 Treasury currency outstanding 5,083 +3 +68 52,318 -225 - 73 Money in circulation 30,502 - 87 +253 Treasury cash holdings 813 +2 + 26 Treasury deposits with F. R. Banks 353 + 51 -246 Foreign deposits with F. R. Banks 334 +34 - 7 Other deposits with F. R. Banks 205 + 6 -112 Other F. R. accounts (net) 1,139 + 1 + 70 33,347 + B Member bank reserves-- 18,971 -233 - 57 Required reserves (estimated) 18,406 -195 r"I+9 Excess reserves (estimated) 565 - 38 - 8 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 811 Treasury currency outstanding 5,085 Member bank) - Required (est.) 18,357 Money in circulation 30,469 reserves ) - Excess (est.) - 7 On March 27, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,721 million, a decrease of $14 million for the week and a decrease of $75 million from the comparable date Digitized faor FyReAaSErR 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 Mar. 27, Mar. 20, Mar. 28, 1957 1957 1956 A S S E TS Gold certificate account 20,774,392 + 9,998 + 583,404 Redemption fund for F. R. notes 852,147 2,249 + 6,974 Total gold certificate reserves 21,626,539 + 7,749 + 590,375 F. R. notes of other Banks 407,627 6,793 + 117,347 Other cash 447,367 2,652 + 59,029 Discounts and advances 616,584 - 276,155 - 89,362 Industrial loans 795 + 12 + 113 Acceptances—bought outright 22,675 497 + 8,173 U. S. Government securities: Bought outright— Bills 304,705 -- 7766,,225500 - 339944,,229955 Certificates 11,362,199 — + 429,500 Notes 8,571,413 -- - 582,500 Bonds 2,801,750 Total bought outright 23,040,067 - 76,250 - 547,295 Held under repurchase agreement 25,500 - 56,300 + 9,500 Total U. S. Government securities 23,065,567 - 132,550 - 537,795 Total loans and securities 23,705,621 - 409,190 618,871 Due from foreign banks 22 — Uncollected cash items 4,611,111 -1,886,751 + 177,699 Bank premises 75,651 + 6 + 11,380 Other assets 145,430 + 12,561 + 27,255 TOTAL ASSETS 51,019,368 -2,285,070 + 364,217 L I A B I L I T I ES Federal Reserve notes 26,371,667 59,821 + 362,324 Deposits: Member "bank reserves 18,349,522 494,116 - 232,704 U. S. Treasurer—general account 489,873 254,897 - 21,848 Foreign 344,843 + 44,755 + 2,191 Other 299,475 + 111,383 " 17,Off Total deposits 19,483,713 - 592,875 - 269,36^ Deferred availability cash items 3,803,917 -1,644,071 + 163,280 Other liabilities and accrued dividends 18,748 + 867 + 1,171 TOTAL LIABILITIES 49,678,045 -2,295,900 7-wr,m C A P I T AL A C C O U N TS Capital paid in 330,765 135 + 20,783 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 235,422 + 10,695 + 32,042 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,019,368 -2,285,070 + 364,217 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.2# + 1.2$ Contingent liability on acceptances purchased for foreign correspondents 58,935 698 + 19,862 Industrial loan commitments 1,974 12 458 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MARCH 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 586,169 93 8,531 44,450 16 days to 90 days 30,415 378 14,144 285,755 91 days to 1 year 104 19,946,105 Over 1 year to 5 years 220 360,786 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 616,584 795 22,675 23,0617557 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA, 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON MARCH 27, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston Nev York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E T .S Gold certificate account 20,774,392 977,411 5,870,297 1106,137 1944,530 1389,339 820,225 3448,558 853,005 315,590 843,070 679,464 2526,766 Redemption fund for F. R. notes 852,147 55,807 178.712 61.064 75.944 64.374 50.179 153.985 43,223 22.765 41.139 25.795 79.160 Total gold certificate -reserves 21,626,539 1033,218 6,049,009 1167,201 2020,474 1453,713 870,404 3602,543 896,228 338,355 884,209 705,259 2605,926 F.R. notes of other Banks 407,627 18,040 73,136 24,518 34,986 23,371 99,495 29,897 9,417 11,906 7,762 37,959 37,140 Other cash 447,367 34,560 104,230 24,235 41,543 21,869 34,832 67,729 23,757 12,593 13,457 19,085 49,477 Discounts and advances 616,584 49,338 56,155 15,465 35,725 30,405 15,675 304,125 10,575 41,206 23,615 9,800 24,500 Industrial loans 795 335 423 37 Acceptances— Bought outright 22,675 22,675 U. S. Govt, securities: Bought outright— Bills 304,705 16,748 76,688 18,310 26,354 18,761 15,668 53,162 12,721 6,882 13,203 12,110 34,098 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 14.9.5., 4.7 23 57,857 193,603 371.399 340,662 959,150 Bonds 2.801.750 154,001 705,,139 168,360 242,332 172,501 144,003 488,827 116,973 63,283 121.400 .1,31,353 333,518 Total 23,040,067 1266,420 5,798,678 1384,501 1992,804 1418,554 1184,697 4019,847 961,923 520,4o6 998,326 915,704 2578,207 Held under repurchase agreement 25,500 Total U. S. Govt, sees. 23,065,567 1266,420 5,824,178 1384,501 1992,804 1418,554 1184,697 4019.847 961.923 520.406 998.326 915.704 2578.207 Total loans & securities 23,705,621 1316,093 5,903,008 1400,389 2028,529 1448,959 1200,372 4323,972 972,498 561,649 1021,941 925,504 2602,707 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,611,111 341,604 828,851 299,250 456,175 348,138 378,069 745,518 161,495 114,495 222,598 257,828 437,090 Bank premises 75,651 5,285 9,635 4,715 8,104 7,226 5,270 5,839 4,825 5,082 4,578 4,444 10,648 Other assets 145,430 7,650 35,464 8,460 12,513 8,640 7,400 27,189 5.821 3.241 6.055 6.605 16.392 TOTAL ASSETS 51,019,368 2756,451 13,003,339 2928,770 4602,326 3311,917 2595,843 8802,690 2094,042 1047,322 2160,601 1956,685 5759,382 1 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4»1(C) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BM K ON MARCH 27, 1957 Total BOStOU Tork I d e w« °uJd" Richmond Atlanta Chicago j u ls Dallas J ^ P S K1 LL II AA BB II LL II TT II EESS (In thousands of dollars) FFeeddeerraall RReesseerrvvee nnootteess 26,371,667 1550,541 6,205,914 1676,964 2505,190 2083,733 1271,723 5094,941 1174,883 479,422 1046,954 676,242 2605,160 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,349,522 770,052 5,385,860 872,315 1497,963 799,812 884,963 2817,682 677,524 398,406 823,863 923,936 2497,146 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 489,873 36,152 57,190 34,442 38,982 45,861 43,594 38,201 27,503 26,530 39,530 45,211 56,677 FFoorreeiiggnn 344,843 18,792 1/111,862 22,680 29,160 16,524 14,580 46,008 11,988 7,776 12,312 16,848 36,313 OOtthheerr 299,475 471 222,660 10,485 1,202 4,630 2,798 3,156 3,104 345 9,6L6 2,585 38,423 TToottaall ddeeppoossiittss 19,463,713 825,467 5,777,572 939,922 1567,307 866,827 945,935 2905,04/ 720,119 435,057 885,521 988,580 2628,559 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 3,803,917 301,144 648,589 217,562 407,914 239,515 314,874 604,457 146,262 100,176 174,171 223,651 376,024 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 18,748 865 5,002 821 2,080 821 742 5,481 617 982 644 848 1,847 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 49,678,045 2678,015 12,656,377 2855,069 4482,491 5240,894 2555,274 8607,926 2041,881 1015,637 2107,090 1889,501 5611,590 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 330,765 17,116 95,071 20,966 51,872 15,136 15,924 45,084 11,291 7,272 15,500 18,585 59,550 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 747,593 45,948 208,002 52,501 66,595 57,594 53,179 110,421 29,331 18,520 27,985 57,508 82,415 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 5,011 7,519 4,489 1,006 5,549 762 1,429 521 1,075 1,157 1,507 2,140 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 235,422 14,561 56,070 15,945 20,564 14,944 12,704 57,850 11,018 6,820 11,091 10,186 25,889 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 51,019,368 2756,451 15,005,559 2928,770 4602,526 5511,917 2595,845 8802,690 2094,042 1047,522 2160,601 1956,685 5759,582 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 58,935 5,416 2/ 16,586 4,125 5,501 5,004 2,650 8,564 2,179 1,414 2,258 5,065 6,597 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 1,974 — —— 8 61 — — 97 — — 1,808 — —— FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,508,753 1615,164 6,484,791 1800,827 2586,468 2150,055 1544,056 5195,186 1220,885 540,522 1075,258 758,065 2759,680 Collat. for F. R. notes; Gold certificate acct. 11,848,000 580,000 5,170,000 640,000 1150,000 915,000 450,000 2500,000 450,000 150,000 500,000 285,000 1500,000 Eligible paper "— 13*715 -- — 9*650 —— 22,665 —- U. S. Govt, securities 17,olio'So 1150,000 5,600,000 1200,000 1500,000 1310,000 1000,000 3100,000 875,000 460,000 820,000 525 000 1500.000 Total collateral J 28,934,030 1730.000 6.770.000 iRqz 71 t o£xh nnn oboe nnn il/rn /wV'H.nn nm 1771. ^ ____ y After deducting $23%,956,000 participations of other Fed^tl Rese^A Banl^T' ouo.uuu ^uuu.uuu f & After deducting $ 42,549,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis