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 23, 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 May 22 decreased $27 million to $l8,8l8 million. Estimated required reserves decreased $69 million; and estimated excess reserves increased $42 million to $492 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $280 million, compared with $499 million the week before. The principal changes reducing average reserves were decreases of $177 million in member bank borrowings and $168 million in Federal Reserve holdings of U. S. Government securities, and increases of $46 million in Treasury deposits with Federal Reserve Banks and $32 million in "other" deposits with Federal Reserve Banks. The principal offsetting change was an increase of $393 million in Federal Reserve float. Total Reserve Bank credit increased $39 million. As of Wednesday, May 22, holdings of U. S. Government securities bought outright were $113 million lower than a week earlier and member bank borrowings were $17 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 22, 1957 May 15, 1957 I May 23, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 22,915 -118 -285 Held under repurchase agreement - 50 - 10 Acceptances--bought outright 20 - 4 + 6 Loans, discounts, and advances-- Member bank borrowings 772 -177 -174 Other 21 - 6 + 20 Float 1,341 ±393 +202 Total Reserve Bank credit 25,070 + 39 -240 Gold stock 22,320 + 1 +550 Treasury currency outstanding 5,098 + 2 + 10 52,45S + 42 +379 Money in circulation 30,645 9 +328 Treasury cash holdings 790 3 + 9 Treasury deposits with F. R. Banks 525 46 - 69 Foreign deposits with F. R. Banks 362 4 + 43 Other deposits with F. R. Banks 273yf 32 - 37 Other F. R. accounts (net) hoif 2 + 93 33,669 T5 +3S9 Member bank reserves-- 18,818 - 27 Required reserves (estimated) 18,326 - 69 51 Excess reserves (estimated) 492 + 42 42 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 796 Treasury currency outstanding 5,101 Member bank) - Required (est.) 18,315 Money in circulation 30,580 reserves ) - Excess (est.) 179 On May 22, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,662 million, an increase of $45 million for the week and a decrease of $91 million from the comparable date Digitizeda fo ry FeRaArSE Ra go. 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 May 22, May 15, May 23, 1957 1957 1956 A S S E TS Gold certificate account 20,789,393 1 + 539,406 Redemption fund for F. R. notes 844,682 2^363 + 9,744 Total gold certificate reserves 21,634,075 27352 + 549,150 F. R. notes of other Banks 368,141 6,607 + 70,929 Other cash 356,840 5,388 - 16,132 Discounts and advances 669,342 21,908 - 45,622 Industrial loans 734 40 193 Acceptances—bought outright 19,720 1,012 + 4,985 U. S. Government securities: Bought outright— Bills 160,100 - 112,855 151,070 Certificates 11,362,199 429,500 582,500 Notes 8,571,413 Bonds Total bought outright 22,895,462 - 112,855 - 304,070 Held under repurchase agreement Total U. S. Government securities 22,895,462 - 112,855 Total loans and securities 23,585,258 Due from foreign banks 22 Uncollected cash items 5,239,599 Bank premises 77,233 Other assets 178,711 TOTAL ASSETS 51,439,879 L I A B I L I T I ES Federal Reserve notes 26,313,771 Deposits: Member bank reserves 18,493,505 U. S. Treasurer--general account 517,620 Foreign 353,207 Other 283,326 Total deposits 19,647,658 Deferred availability cash items 4,149,602 Other liabilities and accrued dividends 19,194 TOTAL LIABILITIES 50,130,225 i 1 % TF- 1 - 135,815 - 344,900 - 641,976 + 631,081 + 368 + 10,552 + 13,037 8,195 - 765,529 + 892,485 59,897 + 326,772 - 275,191 + 159,186 + 152,020 - 117,935 + 10,588 + 41,125 + 41,365 - 26,460 - 71,218 + 557915 - 646,553 + 417,502 + 1,131 467 - 776,537 + 799,723 C A P I T AL A C C O U N TS Capital paid in 332,031 186 + 17,369 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 202,487 10,822 + 21,412 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,439,879 765,529 + 892,485 Ratio of gold certificate reserves to deposit .2$ and F. R. note liabilities combined 47.1# Contingent liability on acceptances purchased 61,056 806 + 15,264 for foreign correspondents Industrial loan commitments 1.834 40 637 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 22, 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 80,700 Within 15 days 640,700 350 7,033 16 days 90 days 28,642 39 12,687 7,936,965 12,088,540 91 days to 1 year 144 Over 1 year to 5 years 201 360,786 1,013,614 Over 5 years to 10 years 1.414,857 Over 10 years Digitized for FRA T SE o R t al 669,342 73% 19,720 22,895,462 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.lCb) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM OR MAY 22, 1957 Phila- St. Minne- Kansas San Total Boston New York delphia Cr l e a V n J d " I R ichmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,789,393 982,065 5,906,199 1134,161 1881,680 1267,778 786,186 3732,444 827,010 290,232 816,181 679,866 2485,591 Redemption fund for F. R. notes 844,682 54,914 174,909 59,599 74,525 69,159 49.337 152.387 42.795 22.620 40.765 25.502 78.170 Total gold certificate reserves 21,634,075 1036,979 6,081,108 1193,760 1956,205 1336,937 835,523 3884,831 869,805 312,852 856,946 705,368 2563,761 F.R. notes of other Banks 368,141 16,350 71,312 25,841 26,802 20,205 82,037 27,870 9,985 12,414 9,060 38,207 28,058 Other cash 356,840 26,116 71,427 17,964 34,263 19,823 31,234 54,359 21,206 10,345 11,173 14,880 44,050 Discounts and advances 669,342 31,881 44,615 50,522 46,263 40,196 51,712 163,205 19,215 74,128 73,275 45,140 29,190 Industrial loans 734 327 374 33 Acceptances—• Bought outright 19,720 19,720 U. S. Govt, securities: Bought outright— Bills 160,100 8,733 40,038 9,345 14,062 10,230 8,292 27,946 6,621 3,455 6,874 6,274 18,230 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 1496,149 354,471 184,971 367,996 335,905 975,975 700,664 163,547 246,100 179,012 145,122 489,048 115,866 60,462 120,288 109,798 319,019 Bonds 2,801,750 152,824 Total 22,095,462 1248^856 5,725^720 1336^477 2011/091 1462,860 1185,916 3996,426 946,842 494,084 982,971 897,250 2606,969 field under repurchase agreement Total U. S. Govt, sees. 22,895,462 1248,856 5,725,720 1336,477 2011,091 1462,860 1185,916 3996,426 946,842 494,084 982,971 897,250 2606,969 Total loans & securities 23,585,258 1281,064 5,790,055 1387,373 2057,354 1503,056 1237,628 4159,631 966,057 568,245 1056,246 942,390 2636,159 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 0 2 Uncollected cash items 5,239,599 431,344 9307528 355,519 478,747 389,215 417,857 862,234 211,774 126,576 248,329 271,496 515,980 9,869 4,692 8,568 7,240 5,386 5,824 5,280 4,929 4,725 4,873 10,596 Bank premises 77,233 5,251 43,514 10,125 15,544 11,167 9,185 33,200 7,146 3,814 7,415 7,823 20,246 Other assets 178,711 9,532 2806,637 12,997,819 2995,276 4577,485 3287,644 2618,851 9027,952 2091,254 1039,176 2193,895 1985,038 5818,852 TOTAL ASSETS 51,439,879 l/ After deducting $16,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH MY 22, 1957 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES (In thousands 6f dollars) federal Reserve notes 26,315,771 1560,526 6,207,799 1682,964 2490,198 2071,074 1241,419 5089,003 1172,611 481*309 1052,370 679,354 2585,11(4 Deposits: Member bank reserves 18,493,505 773,438 5,353,422 869,302 1513,959 767,223 913,418 2957,174 665,315 378,472 845,385 953,775 2502,622 U.S.Treas.-gen. acct. 517,620 51,934 44,318 48,149 36,251 47,341 32,958 66,213 24,603 30,933 34,173 40,638 60,109 Foreign 353,207 20,532 1/ 98,681 24,780 31,860 18,054 15,930 50,268 13,098 8,496 13,452 18,408 39,648 Other 281426 268 222.480 10.621 1.4% 3.535 1.581 1.314 1.188 3£Z_ 210 2.788 36.829 Total deposits 19,62*7,658 846,172 5,718,901 952,852 1583,500 836,153 963,887 3074,969 704,204 418,283 893,920 1015,609 2639,208 )eferred availability cash items 4,149,602 322,155 707,769 267,078 384,483 310,136 351,664 671,456 163,003 105,912 194,755 222,762 448,429 Dther liabilities and accrued dividends 19,194 1,043 5.270 995 1.952 887 946 3.439 593 _562_ 679 1.039 1.782 TOTAL LIABILITIES 50,130,225 2729,896 12,639,739 2903,889 4460,133 3218,250 2557,916 8838,867 2040,411 1006,073 2141,724 1918,764 5674,563 CAPITAL ACCOUNTS Japital paid in 332,031 17,103 95,167 21,069 31,976 15,217 16,068 45,330 11,343 7,287 13,436 18,621 39,414 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 ljb) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,507 2,140 Dther capital accounts 202,487 12,679 47,592 13.528 17,977 13.234 10.926 31.905 9.648 6.223 9.615 8.838 20.322 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 2806.637 12.997.819 2995.276 4577.485 3287.61i4 2618.851 9027.952 2091.254 1039.176 2193.895 1985.038 5818.859 onting. liab. on acceptances purchased for foreign correspondents 61,056 5,544 2/ 17,125 5,4 99 3,116 2,750 8,676 2,261 1,466 2,322 3,177 6,843 [ndustrial loan commit. l,8?4 5L 84 1.648 FEDERAL RESERVE AGENTS' ACCOUNTS R. notes outstanding 27,294,017 1595,765 6,1442,219 1779,542 2561,930 2157,455 1506,284 5182,796 1225,255 555,706 1077,595 751,667 2722,009 Jollat. for F. R. notes: Gold certificate acct. 11,798,000 580,000 3*170,000 640,000 1130,000 915,000 400,000 2500,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 134,112 — — 43,122 — -- — — 18,475 — 72,515 U. S. Govt, securities 17,040,000 1150,000 3,600,000 1200,000 1500.000 1310.000 1000.000 3100.000 875.000 460.000 820.000 525.000 1500.000 Total collateral 28,972,112 1730,000 6,770,000 1883,122 2630,000 2225.000 1400.000 5400,000 1343.475 590.000 1192.515 808.000 3000.000 l/ After deducting $254,526,000 participations of other Federal Reserve Banks. [/ After deducting $ 45,951,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis