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 l6, 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 15 decreased $139 millio nto $18,845 million. Estimated required reserves decreased $120 million; and estimated excess reserves decreased $19 million to $478 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $471 million, compared with $470 million the week before. The principal changes reducing average reserves were decreases of $130 million in Federal Reserve holdings of D. S. Government securities and $18 million in member bank borrowings, and an increase of $65 million in money in circulation. The principal offsetting changes were decreases of $34 million in "other" deposits with Federal Reserve Banks and $25 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $146 million. As of Wednesday, May 15, holdings of U. 8. Government securities bought outright were $113 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $59 million lower, and member bank borrowings were $113 million lower. Averages of daily figures Member bank reserves, Reserve Bank credit, For week ending Change from week ending and related items May 15, 1957 May 8, 1957 I May.16, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,033 - 92 -193 Held under repurchase agreement 50 - 38 - 3 Acceptances--bought outright 24 -- + 9 Loans, discounts, and advances- Member bank borrowings 949 - 18 -117 Other 27 + 1 + 26 Float 948 + 1 + 11 Total Reserve Bank credit 25,031 -146 -267 Gold stock 22,319 + 1 +550 Treasury currency outstanding 5,096 + 1 + 70 52,446 -144 +353 Money in circulation 30,654 + 65 +295 Treasury cash holdings 787 - 8 - 2 Treasury deposits with F. R. Banks 479 - 25 - 84 Foreign deposits with F. R. Banks 366 — — - 12 Other deposits with F. R. Banks 241 - 34 - 73 Other F. R. account s(net) 1,075 - 3 + 95 33,601 - 5 +218 Member bank reserves- 18,845 -139 +135 Required reserves (estimated) 18,367 -120 +126 Excess reserves (estimated) 478 - 19 + 9 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 22,320 Treasury cash holdings 795 Treasury currency outstanding 5;0$6 Member bank) - Required (est.) 18,368 Money in circulation 30,634 reserves ) - Excess (est.) 401 On May 15, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,617 million, a decrease of Digitized$ fo3r6 F RAmSiElRl ion for the week and a decrease of $105 million from the comparable date http://frasae r.syteloauisrf eda.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 15, May 6, May 16, 1957 1957 1956 A SS E T S Gold certificate account 20,789,392 1 + 53 8 9 , , 6 4 5 0 6 4 847,045 4.903 +_ Redemption fund for F, R. notes Total gold certificate reserves 21,636,437 4.904 + 548,060 F. R. notes of other Banks 361,534 11,291 + 85,434 362,228 1,453 3,362 Other cash 691,250 112,606 35,420 Discounts and advances Industrial loans 774 28 179 Acceptances--bought outright 20,732 2,965 6,387 U. S» Government securities: Bought outright— 272,955 - 112,850 - 63,515 Bills 11,362,199 + 429,500 Certificates 8,571,413 - 582,500 Notes 2,801,750 Bonds Total bought outright 23,008,317 - 112,850 - 216,515 59,000 - T1,650 Held under repurchase agreement Total U. S. Government securities 23,008,317 - 171,850 - 288,165 23,721,073 - 287,393 - 246,537 Total loans and securities 22 Due from foreign banks 5,881,575 +1,381,876 + 366,116 Uncollected cash items 76,865 + 195 + 10,582 Bank premises 165,674 + 12,409 16,457 Other assets 52,205,408 +1,089,439 743,835 TOTAL ASSETS L I A B I L I T I ES 26,373,668 + 14,514 + 331,392 Federal Reserve notes Deposits: 18,768,696 10,269 + 291,416 Member bank reserves U. S. Treasurer—general account 365,600 34 - 198,637 Foreign 342,619 10,111 + 4,333 Other 241,961 7,731 - 70,184 Total deposits 19,718,876 - 12,615 + 26,928 Deferred availability cash items 4,796,155 +1,077,589 + 295,846 626 Other liabilities and accrued dividends 18,063 717 TOTAL LIABILITIES 50,906,762 +1,078,771 + 653,540 C A P I T AL A C C O U N TS Capital paid in 331,845 130 + 17,406 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 191,665 + 10,538 +_ 18,909 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,205,408 +1.089,439 + 743,836 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.# .Vjo Contingent liability on acceptances purchased 61,862 1,293 + 16,020 for foreign correspondents Industrial loan commitments 1,794 30 651 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 15, 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 659,308 44 6,322 94,155 16 days to 90 days 31,942 377 14,410 8,036,365 91 days to 1 year 153 12,088,540 360,786 Over 1 year to 5 years 200 1,013,614 Over 5 years to 10 years 1,414,857 Over 10 years Digitized for FR T A o SE t R a l 691,250 f?5 20,732 23,008,317 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 15, 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 20,789,392 935,880 5,619,249 1101,559 1843,449 1278,778 801,321 3686,318 851,779 321,146 929,401 678,732 2541,780 Gold certificate account Redemption fund for 847,045 55,048 175,401 59,822 74,752 69,802 49,435 152,631 42,857 22,644 40,820 25,538 78,295 F. R. notes Total gold certificate 21,636,437 990,928 5,994,650 1161,381 1918,201 1348,580 850,756 3838,949 894,636 343,790 970,221 704,270 2620,075 reserves 361,534 17,150 70,469 25,146 26,147 18,790 81,030 28,023 9,156 11,486 7,759 36,380 29,998 F.R. notes of other Banks 362,228 28,190 75,853 17,822 36,417 18,457 29,603 53,451 20,783 9,933 10,495 16,280 44,944 Other cash 691,250 49,790 69,120 84,190 84,105 37,588 41,695 172,680 11,650 57,655 48,427 11,750 22,600 Discounts and advances 774 327 4l4 33 Industrial loans Acceptances— 20,732 20,732 Bought outright U. S. Govt, securities: Bought outright— 272,955 14,889 68,261 15,932 23,976 17,440 14,138 47,645 11,288 5,890 11,719 10,697 31,080 Bills 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 Certificates 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 Notes Bonds 2,801,750 152,824 7 | 0 0 w , 6 j 6 4 j 1 s 6 3 ' , 514 7— 2 — 4 6 7 ,1 0 — 0 — 1 / 7 9 ' ,0 1 ^ 2 145,122 4 f 8 9 ^ ,048 1 1 " 5 ,8 y 6 6 ' " 6 0,462 120,288 109,798 319,019 Total 23,008,317 1255,012 5,753,943 1343,064 2021,005 1470,070 1191,762 4016,125 951,509 496,519 987,816 901,673 2619,819 Held under repurchase agreement 1255.012 5,753,943 1343.064 2021.005 1470.070 1191,762 4016,125 951,509 496,519 987,816 901,673 2619,819 Total U. S. Govt, sees. 23,008,317 1305,129 5,843,795 1427,668 2105,110 1507,658 1233,457 4188,805 963,159 554,207 1036,243 913,423 2642,419 Total loans & securities 23,721,073 1 1/ 6 2 2 1 1 3 1 1 1 i 2 Due from foreign "banks 22 Uncollected cash items 5,881,57$ 442,631 1,0267453 402,993 564,677 469,590 485,008 978,577 240,887 147,308 274,849 279,267 569,335 Bank premises 76,865 5,251 9,730 4,692 8,595 7,231 5,335 5,824 5,038 4,929 ^,719 4,873 10,648 Other assets 165.674 8.806 40.037 9.365 14.300 10.403 8.515 31.036 6.608 3.531 6,880 L.,3£Z 18 r866 TOTAL ASSESS 52,205,408 2798,086 13,060,993 3049,069 4673,449 3380,710 2693,705 9124,668 2140,268 1075,185 2311,167 1961,821 5936,287 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 ON MY 15, 1957 Minne- Kansas San Total Boston I New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago apolis Its Dallas IFrancisco .In thousands of dollars] L I A B I L I T I ES 1563,601 6,210,832 1685,998 2490,338 2080,836 1253,067 5096,567 1176,745 481,782 1055,838 680,541 2597,523 Federal Reserve notes 26,373,668 Deposits: 18,768,696 Member bank reserves 365,600 7§'l§ 5 , 3£ ;$ % % %% % 2« U.S.Treas.-gen.acct. 342,619 .Foreign ^ 4 7'^ " 1# Other 241,961 791,881 5,691)512 946^735 1615/256 8491402 969^81 30^,ll4 722,^39 437,099 973,308 975,484 2690,065 19,718,976 Total deposits Deferred availability 798,390 324,733 449,597 380,894 409,886 781,717 189,921 122,856 229,775 239,065 503,893 4,796,155 365,428 cash items Other liabilities and 4,880 883 1,815 969 945 3,l6l 578 607 654 934 1,650 18,063 9y8O 7( H-, UUU vvj x j s ' accrued dividends 2721,897 12,705,614 2958,349 4557,006 3312,101 2633,279 8937,559 2089,883 1042,344 2259,575 1896,024 5793,131 TOTAL LIABILITIES 50,906,762 CAPITAL ACCOUNTS 331,845 17,099 95,153 21,053 31,976 15,217 16,068 45,323 11,342 7,286 13,376 18,541 39,411 Capital paid in 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 7) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Surplus (Section 13b) 191,665 12,131 44,905 12,877 17,068 12,449 10,417 29,936 9,191 5,962 9,096 8,441 19,192 Other capital accounts TOTAL LIABILITIES AND 2798,086 13,060,993 3049,069 4673,449 3380,710 2693,705 9124,668 2140,268 1075,185 2311,167 1961,821 5?36^282_ CAPITAL ACCOUNTS 52,205,408 Conting, liab. on accept ances purchased for 61,862 3,590 2/ 17,356 5,571 2,290 1,486 2,352 foreign correspondents commit FEDERAL RESERVE ACCOUNTS >7,357,395 outstanding 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 L L 69,440 - - - - 10,725 - 47,477 - -- Eligible paper 127,642 M M M U. S. Govt, securities 17,040,000 Total collateral ,28,965,642 — 1/ After deducting $239,427,000 participations of other Federal Reserve Banks 2/ After deducting $44,506,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis