H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM May 2, 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 May 1 decreased $201 million to $19,000 million .Estimated require*reserves decreased $8 million; and estimated excess reserves decreased $193 million to $406 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $298 million, compared with $323 million the week before. The principal changes reducing average reserves were decreases of $316 million in Federal Reserve float, $218 million in member ban kborrowings, and $68 million in U. S. Government securities held under repurchase agreement. The principal offsetting changes were decreases of $163 million in "other deposits with Federal Reserve Bank* $111 million in money in circulation, $54 million in "other" F. R.- account s(net), $38 million in foreign deposits with Federal Reserve Banks, and $37 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $602 million. As of Wednesday, May 1, holdings of U. S. Government securities and those held under repurchase agreement were unchanged from a week earlier and member bank borrowings were $422 million higher. Averages of daily figures Member bank reserves, Reserve Bank credit, For week ending Change from week ending and related items May 1, 1957 Apr. 24, T957 I May 2, 19 5^ (in millions of dollars) Reserve Bank credit: U. S. Government securities— - 74 Bought outright--System account 23,169 Held under repurchase agreement - 68 - 56 + 11 Acceptances--bought outright 25 Loans, discounts, and advances- Member bank borrowings 704 -218 -385 Other 27 + 1 + 26 Float 1,168 -316 +304 Total Reserve Bank credit 25,093 -602 -173 Gold stock 22,318 + 1 +575 Treasury currency outstanding 5,094 + 2 + 71 52,504 -600 +472 +318 Money in circulation 30,499 j -111 Treasury cash holdings 791kz"7 + 3 + 8 Treasury deposits with F. R. Banks 419 - 37 -156 Foreign deposits with F. R. Banks 352 - 38 + 14 Other deposits with F. R. Banks 291 -163 - 94 1,148 - 54 +150 Other F. R. accounts (net) 33,504 ^ioo +240 +233 Member bank reserves- 19,000 -201 Required reserves (estimated) x5t595 - 8 +235 Excess reserves (estimated) 4o6 -193 - 2 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 22,318 Treasury cash holdings 803 Treasury currency outstanding 5,094 Member bank) - Required (est.) 18,628 Money in circulation 30,510 reserves ) - Excess (est.) 495 On May 1, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,687 million, a decrease of $74 million for the week and a decrease of $40 million from the comparable Digitized dfoar FtReA SaE R year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since W, May 1, Apr. May 2, 1957 1957 1956 A S S E TS Gold certificate account 20,779,393 2 + 573,404 1 + 14,179 Redemption fund for F. R. notes Total gold certificate reserves 21,634,027 1 + 557,563 + 102,568 F. R. notes of other Banks 398,222 37,101 + 8,563 Other cash 392,949 3,649 Discounts and advances 1,095,490 421,781 + 194,919 167 Industrial loans 774 1 Acceptances—bought outright 23,735 1,175 + 9,830 U. S. Government securities: Bought outright— 434,105 + 70,635 Bills Certificates 11,362,199 + 429,500 Notes 8,571,413 - 582,500 2,801,750 Bonds Total bought outright 23,169,467 - 82^365 - 129,850 Held under repurchase agreement Total U. S. Government securities 23,169,467 - 212,215 Total loans and securities 24,289,466 420,605 7,633 22 Due from foreign banks Uncollected cash items 5,211,373 16,969 + 563,546 Bank premises 76,538 87 + 11,137 140,013 11,947 - 21,774 Other assets TOTAL ASSETS 52.143,410 + 374,747 +1,243,990 L I A B I L I T I ES Federal Reserve notes 26,327,132 + 654 + 364,733 Deposits: Member bank reserves 19,122,617 + 250,803 + 461,634 U, S. Treasurer—general account 598,508 + 270,072 + 13,255 - 23,316 Foreign 311,438 - 76,399 Other 293,308 + ... 330 - 81,195 Total deposits 20,325,871 + 444,806 + 370,370 Deferred availability cash items 4,195,918 + 40,556 + 424,095 768 Other liabilities and accrued dividends 17,901 1,529 50,866,822 + 484,487 +1,158,430 TOTAL LIABILITIES C A P I T AL A C C O U N TS 107 + 17,714 Capital paid in 331,514 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 169,938 - 109,847 + 13,857 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,143,410 + 374,747 +1,243,990 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.4% .4% Contingent liability on acceptances purchased for foreign correspondents 64,136 42 + 21,218 164 661 Industrial loan commitments 1,798 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 1, 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 1,062,070 44 11,388 135,455 16 days to 90 days 33,420 374 12,347 298,650 91 days to 1 year 145 19,946,105 360,786 Over 1 year to 5 years 211 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRATSoEtRa l 1,095,490 77% 23,735 23,169,467 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 1, 1957 Total Boston New York d P e h l i p l h a l - a land. 1 I Richmond Atlanta Chicago L S o t ui . s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fran S c a i n s co (In thousands of dollars) A S S E TS Gold certificate account 20,779,393 943,463 5,839,818 1161,285 1880,307 1337,028 784,632 3580,091 842,451 324,953 874,987 738,338 2472,040 Redemption fund for F. R. notes 855,434 55,466 177,299 60,517 75,409 72,408 49.794 153,356 43,050 22,708 40,999 25.678 78.750 Total gold certificate reserves 21,634,827 998,929 6,017,117 1221,802 1955,716 1409,436 834,426 3733,447 885,501 347,661 915,986 764,016 2550,790 F.R. notes of other Banks 398,222 23,144 72,959 30,268 33,485 19,205 88,284 32,297 8,398 13,226 5,188 39,522 32,246 Other cash 392,949 29,597 88,032 21,010 38,342 19,397 32,874 52,409 22,614 11,857 11,870 16,628 48,319 Discounts and advances 1,095,490 38,360 277,175 38,120 104,160 37,025 58,275 335,280 12,570 70,485 47,440 22,450 54,150 Industrial loans 774 327 412 35 Acceptances— Bought outright 23,735 -- 23,735 ~ -- -- -- - - U. S. Govt, securities: Bought outright— 18,638 Bills 434,105 23,679 108,561 25,339 38,131 27,737 22,485 75,774 17,952 9,368 17,012 49,429 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 3 1 6 2 7 0 , .2 9 8 9 8 6 335,905 975,975 Bonds 2«.—8 0f1 .W-7*5-0 t 1I5 27.v8 24 700.664 163.547 246.100 179,012 145.122 489.048 115.866 60.462 109.798 319,019 Total 23,169,467 1263,802 5,794,243 1352,471 2035,160 1480,367 1200,109 4044,254 958,173 499,997 994,735 907,988 2638,168 Held under repurchase agreement Total U. S. Govt, sees. 23,169,467 1263.802 5.794.243 1352.471 2035.160 1480.367 1200,109 4044.254 958.173 499.997 994.735 907.988 2638.168 Total loans & securities 24,289,466 1302,489 6,095,153 1391,003 2139,320 1517,392 1258,384 4379,534 970,743 570,517 1042,175 930,438 2692,318 Due from foreign "banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,211,373 427,174 943,379 321,780 475,389 392,029 453,858 870,180 201,008 120,659 224,096 250,511 531,310 Bank premises 76,538 5,251 9,721 4,692 8,527 7,230 5,334 5,819 5,025 4,927 4,677 4,687 10,648 Other assets 140,013 7,465 33,379 7.858 12,404 8,742 7.189 26,536 5,567 2,981 5.847 6,107 15,938 TOTAL ASSETS 52,1^3,410 2794,050 13,259,746 2998,415 4663,185 3373,432 2680,350 9100,225 2098,857 1071,829 2209,840 2011,910 5881,571 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MY 1, 1957 H.4.1(c) Total Boston ITew York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s K C a i ns t a y s Dallas Fran S c a i n s co (In thousands of dollars) L I A B I L I T I ES 1558,417 6,194,746 1684,533 2484,582 1251,125 5092,145 1176,138 481,831 1053,794 679,867 2586,467 2083,48? Federal Reserve notes 26,327,132 De M p e o m s b i e t r s ; b ank reserves 19,122,617 743,341 5,542,961 912,232 1592,348 841,601 927,744 3043,187 679,094 415,037 863,029 996,186 2565,857 U.S.Treas.-gen.acct. 598,508 32,902 152,670 28,216 53,172 45,626 43,688 57,080 26,419 30,599 42,399 28,633 57,104 Foreign 311,438 17,690 1/ 92,143 21,350 27,450 15,555 13,725 43,310 11,285 7,320 11,590 15,860 34,160 Ot T he ot r a l deposits 20, 2 3 9 2 3 5 . , 3 8 0 7 8 1 794, 4 4 6 0 7 0 6,0 2 1 2 5 8 , . 9 2 9 2 8 4 97 1 2 0 , . 3 5 4 4 1 1 1 1 6 .6 7 0 4, 9 5 79 90 4 7 . ,3 5 3 5 8 6 9 1 8 . 6 3 , 4 5 8 05 3 1 1 . 4 2 4 5 , 3 8 30 717,4 6 0 0 3 5 453, 3 2 0 6 4 0 3 9 , 2 1 0 5 , 8 176 3 1 , 0 6 4 5 4, 3 332 3 2 7 6 , 9 5 4 8 , 8 70 9 Deferred availability 694,937 251,293 387,324 314,432 382,497 676,814 155,095 103,661 184,627 222,061 458,030 cash items 4,195,918 365,147 Other liabilities and 4,402 871 2,186 801 913 3,428 597 696 652 695 1,664 accrued dividends 17,901 996 TOTAL LIABILITIES 50,866,822 2718,960 12,910,083 2909,038 4548,671 3306,058 2621,040 8917,217 2049,233 1039,448 2159,249 1946,955 5740,570 CAPITAL ACCOUNTS 7,278 18,488 39,440 C S a u p rp i l t u a s l ( p S a e i c d t i i o n n 7) 7 3 4 3 7 1 , , 5 5 9 1 3 4 4 1 3 7 , , 9 1 4 2 8 7 2 9 0 5 8 , , 1 0 0 0 6 2 2 5 0 2 , ,3 9 0 8 1 0 6 3 6 1 , , 3 9 9 6 3 1 3 1 7 5 , ,1 5 9 9 7 4 1 3 5 3 , , 9 1 8 7 5 9 4 1 5 1 , 0 2 , 9 42 3 1 1 2 1 9 , , 3 3 4 3 6 1 1 1 8 , ,5 0 2 7 0 3 1 2 1 3 7 , , , 1 3 9 3 1 8 7 3 3 3 1 7 , ,5 3 0 0 8 7 2 8 , 2 l , 4 4 o 1 3 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,42 9 25,865 521 5,510 8,158 7,652 16,708 Other capital accounts 169,938 11,004 39,236 11,607 15,154 11,234 9,384 8,426 TOTAL LIABILITIES AND 2794,050 2098,857 13,259,746 2998,415 4663,185 3373,432 2680,350 9100,225 1071,829 2209,840 2011,910 5881,571 CAPITAL ACCOUNTS 52,143,410 Conting. liab. on accepta f n o c r e e s ig n pu r c c o h r a r s e e sp d o n f d o e r n ts 64,136 3,724 2/ 17,976 4,494 5,778 3,274 2,889 9,117 2,375 1,541 2,440 3,338 7,190 85 1,648 Industrial loan commit. 1,798 9 FEDERAL RESERVE AGENTS' ACCOUNTS 1606,183 6,441,206 1786,904 2567,622 2143,047 1316,241 536,654 1080,482 2733,214 5198,519 1221,493 730,170 F. R. notes outstanding 27,361,735 Collat. for F. R. notes: 580 000 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 130,000 300,000 283,000 1500,000 Gold certificate acct. 11,798,000 % 36,370 — — -- 11,645 -- 46,490 Eligible paper 94,505 nsn'nnn 1 600.000 1200.000 1500,000 1310,000 1000,000 3100,000 875,000 460,000 820,000 525,000 1500,000 U. S. Govt, securities 17,040,000 rn ^ o t J o L o o dJ ~ L 6'.n o 1 .o r o 2 o 1876!n o - 2—-6~1r0—.0—00 ' 2 2 ' 2 5 I .0 0 „ 0 i4oo.o oo n,r 5 - 4 0 r 0 m . n 0 00 nc 1 c 116.645 590,000 1166,49 0l. o8n0 8n,n0n00 300 0o,0n0n0n , nnn Total collateral 28,932,505 l/ After deducting $219,295,000 participations of other Federal Reserve Banks 2/ After deducting $46,160,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis