H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM April 11, 1957 wfr.flTTr.V- 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 April 10 increased $220 million to $19,088 million .Estimated required reserves increased $13 million; and estimated excess reserves increased $207 million to $5^9 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $656 million, compared with $707 millio nthe week before. The principal changes supplying average reserves were increases of $156 million in member bank borrowings and $73 million in U.. S. Government securities held under repurchase agreement, and a decrease of $130 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $66 million in money in circulation and $46 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $235 million. As of Wednesday, April 10, U. S. Government securities held under repurchase agreement were $45 million lower than a week earlier and member bank borrowings were $106 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week endingj Change from week ending and related items April 10. 19571 April 3, 1957 IApril 11, 1956 Tin millions of dollars} Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,040 - - -478 Held under repurchase agreement 222 + 73 +219 Acceptances— Bought outright 25 + 2 + 10 Held under repurchase agreement 1 + 1 + 1 Loans, discounts, and advances-- Member bank borrowings 1,205 +156 + 86 Other 26 + 25 — •• Float 881 + 4 + 55 Total Reserve Bank credit „„ 2255,,440000 +235 - 81 Gold stock 99 2222,,3300## +579 — — Treasury currency outstanding 5,088 + 2 + 72 » 52,795 - +238 +571 Money in circulation v 30,65 + 66 +354 Treasury cash holdings * 814 - + 5 + 32 Treasury deposits with F. R. Banks 387 -130 -121 Foreign deposits with F. R. Banks 340 + 46 + 12 Other deposits with F. R. Banks 305 - 9 - 2 Other F. R, account s(net) ^ 1,205 + 38 +123 9 33,707 ' + 19 +399 Member bank reserves-- 19,088 +220 +171 Required reserves (estimated) 18,539 + 13 +255 Excess reserves (estimated) 549 +207 - 84 I hi I Ji 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 * 22,3Treasury cash holdings * 8^8^*5 Treasury currency outstanding 5,088 Member bank) - Required (est.) 18,525 Money in circulation F 30,63BS reserves ) - Excess (est.) 397 On April 10, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,699 million, a decrease of $42 million for the week and a decrease of $98 million from the comparable date Digitized for FRASER a year 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 Apr. 10, Apr. 3, Apr. 11, 1957 1957 1956 A S S E TS Gold certificate account 20,774,393 + 1 + 558,407 Redemption fund for F. R. notes 847,893 2,193 + 8,017 - Total gold certificate reserves 21,622,286 2,192 + 566,424 F. R. notes of other Banks 366,023 - 14,627 + 67,696 Other cash 402,683 24,943 + 27,098 - Discounts and advances 1,227,141 + 106,337 + 232,502 Industrial loans 786 1 + 126 - Acceptances: Bought outright 2244,,440066 + 1,031 + 99,,440055 Held under repurchase agreement 3,043 •f 3,043 + 3,043 U. S. Government securities: Bought outright— Bills 330044,,770055 - 223366,,779955 Certificates 11,362,199 ~— + 429,500 Notes 8,571,413 582,500 - Bonds 2,801,750 -- — Total bought outright 23,040,067 389,795 - Held under repurchase agreement 182,200 45,300 182,200 - Total U. S. Government securities 23,222,267 45,300 207,595 - - Total loans and securities 24,477,643 + 65,110 + 37,481 Due from foreign banks 22 -- Uncollected cash items 4,332,777 183,426 + 48,375 - Bank premises 76,177 + 409 + 11,202 Other assets 102,971 + 13,538 22,494 TOTAL ASSETS 51,380,582 - 146,131 + 735,782 L I A B I L I T I ES Federal Reserve notes 26,446,966 2,890 + 415,732 - Deposits: Member bank reserves 18,922,047 - 272,576 + 231,792 U. S. Treasurer—general account 376,351 + 16,335 - 142,137 Foreign 334,061 + 84,753 .20,617 Other 308,266 + 10,443 + 1,628 Total deposits 19,940,725 161,045 + 111,900 - Deferred availability cash items 3,609,908 + 5,203 + 97,743 Other liabilities and accrued dividends 19,127 + 1,383 + 987 TOTAL LIABILITIES 50,016,726 157,349 + 626,362 - C A P I T AL A C C O U N TS Capital paid in 331,061 + 162 + 17,674 Surplus (Section 7) 747,593 - - + 53,981 Surplus (Section 13b) 27,543 — Other capital accounts 257,659 + 11,056 + 37,765 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,380,582 146,131 735,782 • Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.6% + .1% + .7% Contingent liability on acceptances purchased for foreign correspondents 63,838 + 1,296 + 21,4l4 Industrial loan commitments 1,958 + 2 48.5— MATURITY DISTRIBUTION OF LOANS AND SECURITIES. APRIL 10, 195 7^ (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 1,197,709 44 11,571 207,150 16 days to 90 days 29,432 375 15,878 279,755 91 days to 1 year 147 19,946,105 Over 1 year to 5 years 220 360,786 Over 5 years to 10 years 1,013,614 Digitized fOorv FeRrA SE1R0 years 1,414,857 http://fraser.stlouTisofetd.aorlg/ 1,227,141 27,449 23,222,267 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAN KON APRIL 10, 1957 H.4.l(b) Total Boston New York Phlla- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars1 A S S E TS Gold certificate account 20,774,393 989,626 5,329,254 1187,098 1855,515 1352,994 855,996 3692,984 884,136 370,238 925,139 737,553 2593,860 Redemption fund for F. R. notes 847,893 177.814 60.732 75,614 63.061 49,932 153,585 43,122 22.734 41,053 25,729 78,913 Total gold certificate 21,622,286 1045,230 5,507,068 1247,830 1931,129 1416,055 905,928 3846,569 927,258 392,972 966,192 763,282 2672,773 reserves F.R. notes of other Banks 366,023 13,851 69,973 21,331 28,729 17,831 94,172 24,439 6,772 12,397 6,527 39,833 30,168 Other cash 402,683 31,767 90,389 20,927 38,289 17,556 33,856 60,603 21,795 12,342 10,726 18,191 46,242 Discounts and advances 1,227,141 42,432 556,245 32,235 145,788 35,420 26,875 299,525 7,400 33,641 31,080 13,700 2,800 Industrial loans 786 335 4l4 37 Acceptances: Bought outright 24,406 24,406 Held under rep. agree. 3,043 3,043 U. S. Govt, securities: Bought outright— Bills 304,705 16,621 76,201 17,786 26,764 19,469 15,782 53,187 12,601 6,576 13,082 11,941 34,695 Certificates 11,362,199 619,763 2,841,470 663,246 998,033 725,965 588,528 1983,283 469,884 245,196 487,813 445,273 1293,745 Notes 8,571,413 467,536 2,143,548 500,339 752,896 547,653 443,974 1496,149 354,471 184,971 367,996 335,905 975,975 Bonds 2.801.750 152,824 700.664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 10p,7<# 312*019 Total 23,040,067 1254/744 5,761,683 1344,918 2023,793 1472,099 1193,406 4021,667 952,822 497,205 989,179 902,917 2625,434 Held under rep. agree. 182.200 182,200 T-otal U. S. Govt, sees. 23,222,267 1256,744 5,944,083 1344,918 2023,793 1472,099 1193,406 4021,66? 952,822 497,205 902.917 2623.434 Total loans & securities 24,477,643 1299,511 6,527,777 1377,567 2169,581 1507,519 1220,281 4321,192 960,222 530,883 1020,259 916,617 2626,234 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,332,777 334,598 7567888 271,987 370,102 356,684 383,965 690,788 182,526 114,922 202,521 230,162 437,634 Bank premises 76,177 5,285 9,620 4,715 8,381 7,241 5,310 5,824 4,804 4,929 4,682 4,688 10,698 Other assets 102,971 5,797 24,460 5,722 8,955 6,410 5.200 19,745 4,024 2,173 4,124 4,651 11,710 2736,040 12,986,181 2950,081 4555,168 3329,297 2648,713 8969,163 2107,402 1070,619 2215,032 1977,425 5835,461 TOTAL ASSETS 51,380,582 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i A „ A.

H. 4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 10, 1957 Phi la Cleve St. Minne- Kansas San Total Boston New York delphla land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,446,966 1560,082 6,217,022 1683,879 2501,747 2091,322 1272,602 5104,251 1178,852 483,634 1058,265 683,732 2611,578 Deposits: Member bank reserves 18,922,047 766,235 5,399,553 895,186 1558,119 818,757 946,109 2990,338 690,920 425,889 893,347 969,157 2568,437 U.S.Treas.-gen.acct. 376,351 19,385 67,573 24,717 28,914 29,833 26,455 40,891 20,835 19,794 23,170 37,833 36,951 Foreign 334,061 18,966 1/ 98,923 22,890 29,430 16,677 14,715 46,434 12,099 7,848 12,426 17,004 36,649 Other 308,266 360 ~ 238,093 9.651 1.363 5.316 1.855 1.260 1.751 58s 6.576 2,700 38,676 Total deposits 19,940,725 804,946 5,804^3+2 952,444 1617,826 870,583 989,134 3078,923 725,605 454,116 935,519 1026,774 2680,713 Deferred availability cash items 3,609,908 290,489 586,654 217,859 311,772 293,947 322,603 583,562 149,428 98,073 166,223 198,004 391,294 Other liabilities and 936 5,754 959 2,151 860 743 3,368 610 663 619 709 1,755 accrued dividends 19,127 TOTAL LIABILITIES 50,016,726 2656,453 12,613,572 2655,141 4433,496 3256,712 2585,082 8770,104 2054,495 1036,486 2160,626 1909,219 5685,340 CAPITAL ACCOUNTS Capital paid in 331,061 17,120 95,095 20,971 31,941 15,196 15,963 45,115 11,313 7,276 13,306 18,446 39,319 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 257,659 15,508 62,193 17,179 22,332 16,446 13,727 42,094 11,742 7,264 11,980 10,945 26.249 TOTAL LIABILITIES AND 51,300,502 6736^040 12,986,181 2950,081 4555,168 3329,297 2648,713 0969,163 2107,402 1070,619 2215,032 1977,425 5835,461 CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for 63,838 3,700 2/17,965 4,466 5,742 3,254 2,871 9,060 2,361 1,531 2,424 3,318 7,146 foreign correspondents ~ — 7 58 — 85 1,808 Industrial loan commit. 1,958 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,468,345 1617,300 6,472,646 1795,655 2576,381 2150,525 1336,634 5180,482 1220,778 538,328 1083,081 732,917 2755,618 Collat. for F. R. notes: Gold certificate acct. 11,848,000 580,000 3,170,000 640,000 1130,000 915,000 450,000 2300,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 67,090 30,485 — -- — -- 6,475 -- 30,130 U. S. Govt, securities 17,040,000 1l1l5^0u,.0uu0u0 • 3 3 , , o i 6 v f 0 v 0 , * , v 0 v 0 v 0 . 1 ii x 2 - c 0 . 0 M w , i , 0 i w 0 ; v 0 ; 1 , j5 i - 0 . j0 m ,0x00 v 1 ) 310 " , — 000 1000,00 0 cl 3 .A 1 r 0 t 0,000 n ~ n 8\ A 7s 5j U c ,0 7 0 — c 0 r 4 , 6 0 - , r 0 n - 0 n - 0 i nr m 82 0 n , c 0 n 0 0 i o 5 n 2 5 f . l 00 n 0 f l 1 5 n 0 n 0 r , \ 0 o 0 n 0 n n nnn 1730,000 6,770,000 1870,485 2630,000 2225,000 1450,000 54oo,ooo 1331,475 590,000 1150,130 808,000 3000,000 Total collateral 20,955,090 1/ After deducting $235,1 13,000 participations of other Federal Reserve Banks, 2/ After deducting $45, 873,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis