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 31, 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 29 decreased #202 million to $18,616 million. Estimated required reserves decreased $21 million; and estimated excess reserves decreased $181 million to $311 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $572 million, compared with $280 million the week before. The principal changes reducing average reserves were a decrease of $362 million in Federal Reserve float, and increases of $37 million in Treasury deposits with Federal Reserve Banks and $15 million in money in circulation. The principal offsetting changes were increases of $111 million in member bank borrowings, $86 million in gold stock, and $15 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $237 million. As of Wednesday, May 29, holdings of U. S. Government securities bought outright were $55 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $63 million higher, and member bank borrowings were $29U million higher. Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items May 29, 1957 May 22, 1957 1 May 30, 1956 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 22,901 - lU -458 Held under repurchase agreement 29 + 29 - 24 Acceptances—bought outright 20 + h Loans, discounts, and advances— Member bank borrowings 883 +111 +151 Other 21 + 20 •mm* Float 979 -362 +144 Total Reserve Bank credit 24,033 -237 Gold stock 22,406 + 86 +635 Treasury currency outstanding 5,102 + h + 70 52,341 -U*7 +5W Money in circulation 30,660 +15 +333 Treasury cash holdings 7 9h + h + 9 Treasury deposits with F. R. Banks 562 + 37 + 55 Foreign deposits with F. R. Banks 358 - u + 61 Other deposits with F. R. Banks 279 + 6 - h9 Other F. R. accounts (net) 1,073 mm mm + 89 + 56 +497 Member bank reserves-- 18,616 -202 + b7 Required reserves (estimated) 18,305 - 2i + 78 Excess reserves (estimated) 311 -181 - 31 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 22,620 Treasury cash holdings 797 Treasury currency outstanding 5,103 Member bank) - Required (est.) 18,443 Money in circulation 30,818 reserves ) - Excess (est.) 242 On May 29, 1957, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,6llj. million, a decrease of $lj8 million for the week and a decrease of $llt7 million from the comparable date a year ago. Digitized for FRASER 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 29, May 22, May 30, 1957 1957 1956 A SS E T S Gold certificate account 21,089,392 299,999 +- 839,404 Redemption fund for F. R. notes 812,662 2,020 + 7,803 Total gold certificate reserves 21,932,054 297,979 + 047,207 F. R. notes of other Banks 31$,m 52,51*8 + 66,240 Other cash 332,926 23,91k - 23,165 Discounts and advances 963,7k! + 294,399 + 391,051 182 Industrial loans 748 + lb + 4,280 Acceptances—"bought outright 20,719 + 999 U. S. Government securities: Bought outright— Bills 214,763 54,663 - 257,207 Certificates 11,362,199 + 429,500 - 582,500 Notes 8,571,413 Bonds 2,801,750 - 410,207 Total bought outright 22,950,125 + 54,663 Held under repurchase agreement 63,200 + 63,200 + 28,300 Total U. S. Government securities 23,013,325 + " 117,863 - 301,907 Total loans and securities 23,998,533 + 413,275 + 13,242 Due from foreign banks 22 Uncollected cash items 4,757,915 - 481,684 + 537,424 Bank premises 78,193 + 960 + 11,571 Other assets 190,431 + U,720 - 4,585 TOTAL ASSETS 51,605,667 + 165,m +1,447,934 L I A B I L I T I ES Federal Reserve notes 26,472,513 + 158,742 + 360,793 Deposits: 191,226 + 470,097 Member bank reserves 18,684,731 + 53,071 U. S. Treasurer—general account 487,273 30,347 + 68,429 Foreign 363,963 10,756 Other 282,732 594 - 209,585 Total deposits 19,818,699 + 171,041 +' 382,bl2 + 609,116 Deferred availability cash items 3,y73,690 - 175,912 Other liabilities and accrued dividends 20,425 + 1,231 « 36l TOTAL LIABILITIES 56,285132? + 155,log +1,351,560 C A P I T AL A C C O U N TS Capital paid in 332,111 80 + 17,416 Surplus (Section 7) 747,593 + 53,981 Surplus (Section 13b) 27,543 Other capital accounts 213,093 + 10,606 + 24,977 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,605,667 + 165,7# +1,447,934 Ratio of gold certificate reserves to deposit *3% 1,1% and F. R. note liabilities combined 47*42 + Contingent liability on acceptances purchased for foreign correspondents 59,819 1,237 + 14,049 Industrial loan commitments 1,820 14 - 646 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 29. 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 953,544 " 362 6,749 118,613 l6 days to 90 days 10,197 39 13,970 8,016,915 91 days to 1 year 146 12,088,540 Over 1 year to 5 years 201 360,786 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 963,741 W 20,719 23,013,325 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MY 29. 1957 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS 3old certificate account 21,089,392 1011,047 5,773,035 1127,241 1964,797 1322,080 817,013 3854,338 841,255 347,192 823,296 742,900 2465,198 Redemption fund for F. R. notes 842,662 54,815 174,504 59,394 74.335 68,575 49.240 152,195 42,745 22,603 40,720 25,465 78,071 fotal gold certificate 1065,862 5,947,539 1186,635 2039,132 1390,655 866,253 4006,533 884,000 369,795 864,016 768,365 2543,269 reserves 21,932,054 ?.R. notes of other Banks 315,593 12,891 59,477 20,768 24,202 17,073 74,613 26,966 7,712 10,676 6,269 32,957 21,989 Dther cash 332,926 23,216 65,250 16,822 35,020 18,669 29,434 49,970 19,397 9,256 10,215 16,171 39,506 Discounts and advances 963,741 72,764 143,225 120,192 84,907 73,721 69,350 162,605 12,815 45,650 83,882 30,840 63,790 388 — 33 Industrial loans 748 327 Acceptances— Bought outright 20,719 20,719 J. S. Govt, securities: Btiught outright-- Bills 214,763 11,715 53,708 12,536 18,864 13,722 11,124 37,487 8,881 4,635 9,221 8,416 24,454 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- 17Q r Q12 145.122 489.048 115,866 60.462 120.288 109.798 319,019 Total 22,950,125 1251,838 5,739,390 1339,668 2015,893 1466,352 1188,748 4005,967 949,102 495,264 985,318 899,392 2613,193 Held under repurchase 63,200 agreement 1251,838 5.802.590 1339.668 2015.893 1466.352 1188.748 4005.967 949,102 495,264 985,318 899,392 2613,193 Dotal U. S. Govt, sees. 23,013,325 1324,929 5,966,534 1460,248 2100,800 1540,073 1258,098 4168,572 961,917 540,947 1069,200 930,232 2676,983 Dotal loans & securities 23,998,533 1 1 1 12 )ue from foreign banks 22 1 1/ 6 2 2 1 1 3 Jncollected cash items 4,757,915 361,388 850,447 323,593 482,595 365,454 368,096 772,183 180,027 114,649 223,528 238,944 477,011 Bank premises 78,193 5,217 9,872 4,670 8,679 7,208 5,374 6,497 5,261 5,219 4,727 4,873 10,596 )ther assets 190,431 10,236 46.211 10.811 16.891 12,152 9.811 34,672 7,644 4,054 7,971 8,253 21,725 TOTAL ASSETS 51,605,667 2803,740 12,945,336 3023,549 4707,321 3351,285 2611,680 9065,396 2065,959 1054,597 2185,927 1999,796 5791,081 ./ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 29, 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) L I A B I L I T I ES Federal Reserve notes 26,472,513 1572,507 6,256,099 1695,489 2495,293 2082,347 1239,285 5118,620 1178,684 479,528 1057,501 678,394 2618,766 Deposits: Member bank reserves 18,684,731 786,598 5,283,078 899,256 1612,650 818,248 929,280 2985,677 651,755 409,029 828,962 979,843 2500,355 U.S.Treas.-gen.acct. 487,273 31,388 34,724 4o,8o8 29,193 50,335 45,358 83,920 23,841 26,282 42,071 47,064 32,289 Foreign 363,963 20,880 1/ 105,123 25,200 32,400 18,360 16,200 51,120 13,320 8,640 13,680 18,720 40,320 Other 282,732 176 228.160 9.595 988 1.526 1.567 1.288 189 112 -540 2.579 11.192 Total deposits 19,818,699 839,242 5,651,085 974,859 1675,231 890,469 992,405 3122,005 689,305 444,283 885,253 1048,206 2606,356 Deferred availability cash items 3,973,690 313,604 671,933 260,186 416,334 307,315 317,438 630,447 146,054 96,846 189,746 205,425 418,362 Other liabilities and accrued dividends 20.425 1.096 5.461 967 2.212 1.049 1.0Q0 1.274 666 582 -Z21 1,096 2,119. TOTAL LIABILITIES 50,285,327 2726,449 12,584,578 2931,501 4589,090 3281,180 2550,218 8874,346 2014,709 1021,239 2133,291 1933,123 5645,603 CAPITAL ACCOUNTS Capital paid in 332,111 17,106 95,169 21,071 31,976 15,270 16,071 45,331 11,344 7,300 13,437 18,622 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 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l40 Other capital accounts 213.093 11.226 50.268 14.187 18.856 11-802 11,450 31,869 10,054 6.465 10,079 9,236, TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,605,667 2803,740 12,945,336 3023,549 4707,321 3351.285 2611,680 9065,396 2065,959 1054,597 2185,927 1999,796 5791.081 Conting. liab. on acceptances purchased for foreign correspondents 59,819 3,468 2/ 16,823 4,186 5,382 3,050 2,691 8,491 2,213 1,435 2,272 3,110 6,698 Industrial loan commit. 1,820 32 56 84 1,648 -- -- FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,370,771 1607,530 6,436,605 1776,175 2565,693 2144,946 1299,515 5216,564 1229,904 532,922 1084,332 735,187 2741,398 Collat. for F. R. notes: Gold certificate acct. 11,798,000 580,000 3,170,000 640,000 1130,000 915,000 400,000 2300,000 450,000 130,000 300,000 283,000 1500,000 Eligible paper 213,989 118,792 — -- -- -- 12,075 83,122 U. S. Govt, securities 17.005.000 1150.000 1.600.000 1200.000 1500.000 1110.000 1000.000 1100.000 875.000 425.000 820.000 525.000 1500.000 Total collateral 29.016.989 1710.000 6.770.000 1958.792 2610.000 2225.000 1400.000 5400.000 1117.075 555.000 1201.122 808.000 1000.000 1/ After deducting $258,840,000 participations of other Federal Reserve Banks, 2/ After deducting $42,996,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis