H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For immediate Release H.4.1 OF THE FEDERAL REBBVE SYSTEM May 9, 1957 WEEKLY AVERAGES OF MEMBER BAH 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 May 8 decreased $l6 million to $18,984 million. Estimated required reserves decreased $107 million; and estimated excess reserves increased $91 million to $497 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $1+70 million, compared with $298 million the week before. The principal changes reducing average reserves were a decrease of $221 million in Federal Reserve float, and increases of $90 million in money in circulation and $85 million in Treasury deposits with Federal Reserve Banks. The $263 principal offsetting changes were increases of million in member bank borrowings and $44 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $70 million in "other" F. R. accounts (net). Total Reserve Bank credit increased $84 million. As of Wednesday, May 8, holdings of U. S. Government securities bought outright were $48 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $59 million higher, and member bank borrowings were $292 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 8, 1957 May 1, 1957 I May 9, 195b (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,125 . 44 -127 Held under repurchase agreement 88 + 88 - 12 + 10 Acceptances—bought outright 24 - 1 Loans, discounts, and advances— Member bank borrowings 967 +263 -147 Other 26 - 1 + 25 +103 Float 947 -221 Total Reserve Bank credit 25,177 + 84 -l4ti Gold stock 22,318 - - +550 + 70 Treasury currency outstanding 5,095 + 1 + 86 +472 52,590 + 90 Money in circulation 30,589 +293 + 1 + 14 Treasury cash holdings 795 + 85 Treasury deposits with F. R. Banks 504 - 51 Foreign deposits with F. R. Banks 366 + 14 + 32 Other deposits with F. R. Banks 275 - 16 - 46 + 96 Other F. R. accounts (net) 1,078 - 70 33,606 +102 +336 - 16 +136 Member bank reserves— 18,984 Required reserves (estimated) 18,487 -107 +192 Excess reserves (estimated) 497 + 91 - 56 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 22,319 Treasury cash holdings 792 Treasury currency outstanding 5,096 Member bank) - Required (est.) 18,427 Money in circulation 30,604 reserves ) - Excess (est.) 352 On May 8, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,653 million, a decrease of $34 million for the week and a decrease of $85 million from the comparable date Digitized for FRASER http://frasae r.sytleouaisrfe da.ogrog/. 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 May 8, May 1, May 9, 1957 1957 1956 A S S E TS Gold certificate account 20,789,393 + 10,000 + 548,407 Redemption fund for F. R. notes 851,948 - 3,486 + 10,755 Total gold certificate reserves 21,641,341 + ' 6,514 + 559,162 F. R. notes of other Banks 372,825 - 25,397 + 102,017 Other cash 363,681 - 29,268 + 825 Discounts and advances 803,856 - 291,634 - 199,210 Industrial loans 746 - 28 - 222 Acceptances—bought outright 23,697 - 38 + 9,352 U. S. Government securities: Bought outright— . Bills 385,805 48,300 + 22,335 Certificates 11,362,199 + 429,500 Notes 8,571,413 - — - 582,500 Bonds 2,801,750 -- Total bought outright 23,121,167 - 48,300 - 130,665 Held under repurchase agreement 59,000 + 59,000 + 38,400 Total U. S. Government securities 23,180,167 + 10,700 - 92,265 Total loans and securities 24,008,466 281,000 - 282,345 Due from foreign banks 22 -- Uncollected cash items 4,499,699 « 711,674 + 285,471 Bank premises 76,670 + 132 + 11,152 Other assets 153,265 + 13,252 - 20,363 TOTAL ASSETS 51,115,969 -1,027,441 + 655,919 L I A B I L I T I ES Federal Reserve notes 26,359,154 + 32,022 + 327,493 Deposits: Member bank reserves 18,778,965 - 343,652 + 162,025 U. S. Treasurer—general account 365,566 - 232,942 - 132,657 Foreign 352,730 + 41,292 + 17,144 Other 234,230 - 59,078 88,246 Total deposits 19,731,491 - 594,380 - 517735 + 281,996 Deferred availability cash items 3,718,566 - 477,352 ^ 89 Other liabilities and accrued dividends 18,780 + 879 +" 567,666 TOTAL LIABILITIES 49,827,991 -1,038,831 C A P I T AL A C CO UN T S Capital paid in 331,715 201 + 17,664 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 181,127 + 11,189 +_ 16,608 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,115,969 -1,027,441 + 655,919 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 47.0$ + 1.056 Contingent liability on acceptances purchased for foreign correspondents 63,155 981 + 18,647 Industrial loan commitments 1.824 26 608 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 8, 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 771,156 T~ 9,269 221,555 16 days to 90 days 32,700 345 14,428 8,080,815 91 days to 1 year 146 12,088,540 Over 1 year to 5 years 211 360,786 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FTRoAtSaElR 803,856 23,697 23,180,167 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMEN' OF CONDITION OF EACH FEDERAL RESERVE SANK ON MAY 8, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,789,393 1020,646 5,735,249 1164,543 1876,507 1290,676 811,347 3684,574 830,448 338,819 833,670 698,263 2504,651 Redemption fund for F. R. notes 851,9^8 55,314 176,466 60,266 75,169 71,280 49,642 153,078 42,968 22,677 40,916 25,616 78,556 Total gold certificate reserves 21,641,341 1075,960 5,911,715 1224,809 1951,676 1361,956 860,989 3837,652 873,416 .361,496 874,586 723,879 2583,207 F.R. notes of other Banks 372,825 19,402 74,195 26,579 26,993 19,474 84,217 28,739 10,185 11,502 5,490 38,849 27,200 363,681 29,328 76,142 19,135 35,537 17,235 31,507 51,096 21,575 10,968 10,457 15,741 44,960 Other cash Discounts and advances 803,856 57,255 119,155 39,468 78,710 44,913 50,770 250,120 17,530 31,005 60,630 13,300 41,000 Industrial loans 746 327 — 384 35 Acceptances— Bought outright— 23,697 23,697 U. S. Govt, securities: BBBooouuuggghhhttt ooouuutttrrriiiggghhhttt BBBiiillllllsss 385,805 21,044 96,483 22,520 33,888 24,651 19,983 67,343 15,955 8,326 16,564 15,119 43,929 619,763 2,841,470 663,246 998,033 725,965 588,528 1983,283 469,884 245,196 487,813 445,273 1293,745 CCCeeerrrtttiiifffiiicccaaattteeesss 11,362,199 NNNooottteeesss 8,571,413 467,536 2,143,548 500,339 752,896 547,653 443,974 1496,149 354,471 184,971 367,996 335,905 975,975 152.824 700,664 163.547 246,100 179.012 145.122 489.048 115,866 60,462 120,288 109,798 319,019 BBBooonnndddsss 2,801,750 TTToootttaaalll 23,121,167 1261,167 5,782,165 1349,652 2030,917 1477,281 1197,607 4035,823 956,176 498,955 992,661 906,095 2632,668 HHHeeelllddd uuunnndddeeerrr rrreeepppuuurrrccchhhaaassseee aaagggrrreeeeeemmmeeennnttt 59,000 59,000 — — — — — — — *" TTToootttaaalll UUU... SSS... GGGooovvvttt... ssseeeeeesss... 23.180,167 1261.167 5.841.165 1349.652 2030,917 1477.281 1197.607 4035.823 956.176 498.955 992,661 906,095 2632,668 Total loans & securities 2244,,000088,,446666 11331188,,774499 55,,998844,,001177 11338899,,550044 22110099,,662277 11552222,,119944 11224488,,337777 44228855,,994433 997733,,770066 552299,,999955 11005533,,229911 991199,,339955 22667733,,666688 33 33 3377 ll99 DDuuee ffrroomm ffoorreeiiggnn bbaannkkss 2222 11::ii 11;;jj %% ®®::ii %% \\''dd %% VV** ""ffeepp »»::22SS --UUnnccoolllleecctteedd ccaasshh iitteemmss 44,,449999,,669999 BBaannkk pprreemmiisseess 7766,,667700 88^^110077 1177..009911 88..661177 1133..551144 99..556622 77..883322 2288..888877 66..008800 33,,226688 66,,339900 66,,660077 1177,,331100 OOtthheerr aasssseettss 115533..226655 2804,964 12,870,446 2978,090 4541,549 3305,254 2616,356 8940,857 2081,395 1044,295 2176,316 1930,548 5825,899 TTOOTTAALL AASSSSEETTSS 51,115,969 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 CONDIT ON OF EACH FEDERAL RESERVE BANK ON MY 8, 1957' H.4.1(c) Phila- Cleve- Minne- Total New York delphia Richmond Atlanta Chicago Louis ,In thousands of dollars] L I A B I L I T I ES 1560,860 6,197,082 1684,637 2488,103 2080,920 1256,499 5092,671 1177,364 482,198 1057,089 679,558 2602,173 Federal Reserve note8 26,359,15% De M p U F O e o . o t s S m r T h i . b e o e T t e i t r r s g r a e : n l a b s a d . e n - p k g o e s r n i e . t s a s e c r c v t e . s 1 1 8 9 , , 7 3 2 3 7 7 6 3 5 3 8 5 4 2 1 , , , , , 9 5 2 7 4 6 6 3 3 9 5 6 0 0 1 8 8 2 2 1 6 8 0 9 9 , , , , 3 8 8 3 3 5 2 2 9 9 1 4 3 4 2 5 5 1 , , / 7 ^ 1 1 3 1 3 0 7 3 9 6 6 1 , , , , , 3 4 2 1 4 2 9 2 1 9 4 3 3 7 1 8 9 9 2 2 5 1 6 2 4 2 0 , , , , , 1 5 0 0 7 4 5 7 1 9 9 9 4 0 2 3 1 3 1 1 0 5 0 , 6 , 4 , 0 0 8 0 4 3 3 7 , 8 3 , 0 6 2 0 1 0 1 5 0 7 2 , 8 4 8 4 3 1 , 6 9 , 4 4 0 8 3 , 2 , 0 9 1 6 0 7 0 0 4 9 3 2 2 1 1 9 6 5 1 3 , , , , , 0 8 4 7 0 3 6 3 1 4 5 3 2 4 4 4 3 2 1 3 8 9 9 , 0 , , 5 7 6 7 4 0 5 4 0 6 9 , , 6 4 4 » 9 1 8 7 6 1 5 2 7 6 2 4 6 0 3 , 9 , 3 6 , 9 , 2 9 9 5 7 1 1 9 8 7 3 4 2 9 2 8 4 3 7 , , , ,2 8 8 3 4 3 7 9 9 0 2 7 7 4 0 1 8 2 2 8 3 4 7 , 8 , 2 , 5 5 0 , 4 0 , 3 4 7 1 6 4 1 5 9 6 6 2 2 1 9 9 5 , 7 4 9 9 , , 5 2 8 6 8 , , 1 7 3 9 5 5 6 2 3 1 9 38 2 , 3 5 2 4 6 7 3 5 1 6 , , 3 6 5 2 0 6 0 , 7 , 2 5 3 5 0 9 6 2 Deferred availability 101,451 181,715 $92,240 414,838 297,954 582,703 249,588 332,720 294,635 326,065 594,785 149,872 3,718,566 cash items Other liabilities and 18,780 1,105 4,809 1,003 2,235 965 901 3,509 608 616 691 798 1,540 accrued dividends 2729*311 12,517,918 2888,020 4426,058 3237,204 2556,509 8755,782 2031,361 1011,665 2125,191 1865,135 5683,837 TOTAL LIABILITIES 49,827,991 CAPITAL ACCOUNTS Capital paid in 331,715 17,129 95,108 21,044 31,968 15,203 16,010 45,320 11,342 7,286 13,313 18,548 39,444 S S u u r r p p l l u u s s ( ( S S e e c c t t i i o o n n 7 13 ) b ) 74 2 7 7 , , 5 5 9 4 3 3 43 3 , , 9 0 4 1 8 1 20 7 8 , , 3 0 1 0 9 2 5 4 2 , , 4 3 8 0 9 1 66 1 , , 3 00 93 6 3 3 7 , , 3 5 4 9 9 4 3 9 3, ,8 7 1 9 6 7 6 9 2 2 1 1 7 , 1 4 , 0 9 2 , 0 9 4 5 21 5 8 2 2 , 9 8 1 , 4 3 0 31 5 1 1 , , 8 7 0 , 5 7 5 1 3 2 0 1,1 8 3 2 , 7 7 6 , 9 9 2 83 8 1 3 , , 7 3 0 , 0 5 5 7 0 0 2 8 ,14 1 0 8 8 2 , , 0 4 6 1 5 3 181,127 11,565 42,099 12,236 16,124 11,904 Other capital accounts TOTAL LIABILITIES AND 2804,964 12,870,446 2978,090 4541,549 3305,254 2616,356 8940,857 2081^395 1044,295 2176,316 1930,548 5825,899_ CAPITAL ACCOUNTS 51,115,969 Conting. liab. on acceptances purchased for 3,654 2/17,858 4,410 5,670 3,213 2,835 8,946 2,331 1,512 2,394 3,276 7,056 foreign correspondents 63,155 36 56 — — 84 — 1,648 — 1,824 Industrial loan commit. FEDERAL RESERVE AGENTS' ACCOUNTS 1214,688 535,348 1680,918 727,187 2720,609 F. R. notes outstanding 27,320,030 1590,252 6,462,242 1782,603 2563,694 2137,345 1313,479 5104,393 Collat. for F. R. notes: 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 130,000 300,000 283,000 1500,000 11,798,000 580,000 Gold certificate acct. 16,605 — 59,680 Eligible paper 114,003 37,718 3.600.000 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 1150,000 1341,605 590,000 1179,600 000,000 3000,000" Total collateral 28,952,00311730,000" 1/ After deducting $2 , 17,000 participations 2/ After deducting $45, 297,000 participations Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis