H.4.1 Factors Affecting Reserve Balances of Depository Institutions

» BOARD OF GOVERNORS For immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM May 12, 1955 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The weekly average of Member ban kreserve balances for the week ending May 11 increased $26l million to $18,920 million. The principal change increasing reserves was a decrease of $395 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $95 million in Money in circulation and a decrease of $47 million in Reserve Bank credit. Estimated average excess reserves of member bank sfor the week increased $287 million to $763 million. The decrease of $47 million in average Reserve Bank credit for the week resulted principally from decreases of $175 million in Member ban kborrowings and $47 million in Float, offset in part b yincreases of $ 89 million in U. S. Government securities bought outright and $84 million in U. S. Government securities held under repurchase agreement. At the end of the week, May 11, holding sof U. S. Government securities bought outright were $ 38 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $62 million lower, and Member bank borrowings were $360 million lower. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending and Related Items May 11, 1955 May 4, 19551May 12, 1954 (In millions of dollars Reserve Bank credit: U. S. Government securities-- + 89 Bought outright--System account 23,702 -930 Held under repurchase agreement 137 + 84 +117 Acceptances --Bought outright 15 - 2 + 15 Loans, discounts, and advances-- Member bank borrowings 289 -175 +115 Other 85 + 4 + 74 Float 696 - 47 +155 Total Reserve Bank credit 24,924 - 47 -455 Gold stock 21,671 -299 Treasury currency outstanding 4,999 - l + 47 -706 51,595 - 47 Money in circulation 29,859 +95 +49 Treasury cash holdings 8ll - 7 - 18 Treasury deposits with F. R. Banks 280 -395 -173 Foreign deposits with F. R. Banks 363 + 3 -209 Other deposits with F. R. Banks 442 - 1 + 72 Other F. R. account s(net) 920 - 3 + 72 32,675 -307 -208 Member bank reserve balances-- 18,920 +261 -498 Required reserves (estimated) 18,157 -~2E -551 Excess reserves (estimated) 763 +287 + 53 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED- H.4.1(a), attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,672 Treasury cash holdings 8 19 Treasury currency outstanding 4,999 Member bank) - Required (est.) 18,157 Money in circulation 29,842 reserves ) - Excess (est.) 5 20 On May 11, 1955, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,168 million, an increase of $27 million for the week and an increase of $234 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) since May 11, May 4, May 12, 1955 1955 1954 A S S E TS Gold certificates 20,138,102 10,001 - 278,998 Redemption fund for F. R. notes 852,174 - 2,432 - 14,065 Total gold certificate reserves 20,990,276 + 7,569 - 293,063 F. R. notes of other Banks 201,074 + 3,694 + 61,395 Other cash 360,954 - 13,863 - 6,323 Discounts and advances 364,959 354,921 + 96,930 - Industrial loans 642 - 2 - 607 Acceptances--Bought outright 14,205 1,926 + 14,205 - U. S. Government securities: Bought outright-- Bills 980,550 + 37,306 „ 930,425 Certificates 9,960,141 -- +3,908,950 Notes 9,959,471 - - -3,069,550 Bonds 2,801,750 - 839,400 Total "bought outright 23,701,912 + 37,306 930,425 ~ Held under repurchase agreement 55,672 - 62,328 + 55,672 Total U. S. Government securities 23,757,584 25,022 874,753 - Total loans and securities 24,137,390 - 381,871 - 764,225 Due from foreign banks 22 — - - - Uncollected cash items 3,962,777 19,213 + 95,318 - Bank premises 56,011 + 15 + 2,535 Other assets 163,726 + 7,119 - 31,356 TOTAL ASSETS 49,872,230 396,550 935,"49 - L I A B I L I T I ES Federal Reserve notes 25,542,690 + 56,375 + 75,623 Deposits: 803,882 Member bank--reserve accounts 18,677,314 445,819 - U. S. Treasurer--general account 383,236 74,992 158,794 - - Foreign 388,327 + 31,297 - 190,693 Other 420,386 14,059 63,258 - Total deposits 197869,253 - 503,573 -1,090,136 Deferred availability cash items 3,320,860 + 44,776 + 35,8p,l Other liabilities and accrued dividends 18,693 + 1,122 - 362 TOTAL LIABILITIES 48,751,506 401,300 979,024 - - C A P I T AL A C C O U N TS Capital paid in 292,204 + 64 + 20,675 Surplus (Section 7) 660,901 + 35,888 — — Surplus (Section 13b) 27,543 — — -- Other capital accounts 140,076 + 4,686 - 13,486 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,872,230 - 396,550 - 935,749 Ratio of gold certificate reserves to deposit M and F. R. not eliabilities combined 46.2# + .4 $ + Contingent liability on acceptances purchased for foreign correspondents 26,221 l,34l + 12,919 1.002 Industrial loan commitments 3,415 + 2 + MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY 11, 1955 (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 285,307 17 57+65 r;93V7T5E"~ 16 days to 90 days 39,652 345 8,740 788,450 91 days to 1 year 40,000 133 16,519,398 Over 1 year to 5 years 147 2,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FR T A o SE t R a l 364,959 642 14,205 "23/757,5Er http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON MAY 11, 1955 H.4.l(b) (in thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,138,102 997,489 5,452,036 1249,027 1699,050 1159,819 816,667 3610,287 805,302 372,552 831,024 742,758 2402,091 Redemption fund for F. R. notes 852,174 51,480 175,532 54,874 73,990 71,961 52,020 155,944 46,255 24,295 39,074 28,124 78,625 Total gold certificate reserves 20,990,276 1048,969 5,627,568 1303,901 1773,040 1231,780 868,687 3766,231 851,557 396,847 870,098 770,882 2480,716 F.R. notes of other Banks 201,074 9,664 45,358 4,786 9,837 8,637 58,349 17,260 8,078 2,586 4,199 10,437 21,883 Other cash 360,954 28,158 84,615 15,035 34,660 17,216 33,944 58,006 17,437 10,601 11,616 13,811 35,855 Discounts and advances 364,959 27,698 4o,860 21,705 27,845 17,000 35,980 72,750 11,480 45,375 44,416 7,655 12,195 Industrial loans 642 553 89 Acceptances-- Bought outright 14,205 14,205 - - -- -- -- — - -- - - -- U. S. Govt, securities: Bought outright— Bills 980,550 54,149 249,202 59,679 84,271 57,768 50,613 171,034 40,691 23,763 42,644 39,318 107,418 Certificates 9,960,141 550,039 2,531,320 606,194 856,004 586,793 514,123 1737,317 413,326 241,363 433,167 399,382 1091,113 Notes 9,959,471 550,002 2,531,150 606,153 855,947 586,752 514,088 1737,201 413,298 241,348 433,137 399,355 1091,040 Bonds 2,801,750 154,724 712,051 170,520 240,791 165,062 144,621 488,701 116,267 67,895 121,848 112,344 306,926 Total 23,701,912 1308,914 6,023,723 1442,546 2037,013 1396,375 1223,445 4134,253 983,582 574,369 1030,796 950,399 2596,497 Held under repurchase agreement 55,672 «•» — 55,672 <•* —1 — #» w mm w e* Total U. S. Government securities 23,757,584 1308,914 6,079,395 1442,546 2037,013 1396,375 1223,445 4134,253 983,582 574,369 1030,796 950,399 2596,497 24,137,390 1336,612 6,134,460 1464,8o4 2064,858 1413,375 1259,425 4207,003 995,062 619,833 1075,212 958,054 2608,692 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,962,777 296,340 700,471 245,969 343,652 328,625 319,020 645,954 174,881 110,408 203,776 221,136 372,545 Bank premises 56,011 5,820 7,147 5,229 5,225 4,436 4,119 6,207 2,810 1,082 3,096 1,336 9,504 Other assets 163,726 8,616 40,347 9,597 13,968 9,642 8,876 29,573 6,934 3,897 6,966 7,554 17,756 TOTAL ASSETS 49,872,230 2734,l8o 12,639,972 3049,323 4245,242 3013,712 2552,421 8730,237 2056,760 1145,255 217^,964 1983,211 5546,953 l/ After deducting $16,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON MA Y11, 1-9 >> H.4.1(c) (In thousands of dollars) L I A B I L I T I ES Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas CariFraru Federal Reserve notes 25,542,690 1564,926 5,737,980 1792,220 2353,386 1830,860 1287,057 4967,234 1155,515 568,273 1023,242 706,754 2555,24] Deposits: Member bank-reserve accts. 18,677,314 771,027 5,508,805 885,714 1430,041 808,196 901,579 2968,737 670,724 417,466 879,854 978,318 2456,853 U.S.Treasurer-general acct. 383,236 26,357 49,802 36,808 29,960 30,602 24,463 34,226 21,404 20,228 39,137 30,555 39,694 Foreign 388,327 22,500 1/122,802 27,375 34,125 18,750 16,125 52,500 14,250 9,375 14,250 17,625 38,65c Other 420,386 1,702 342,505 9,456 5,812 2,440 1,374 1,989 6,497 495 8,195 1,363 38,55^ Total deposits 19,869,263 821,586 6,023,914 959,353 1499,938 859,988 943,541 3057,452 712,875 447,564 941,436 1027,861 2;5 73,75= Deferred avail, cash items 3,320,860 278,769 557,444 215,060 288,289 262,632 270,005 545,065 143,055 99,280 165,396 194,742 301,12; Other liabilities and accrued dividends 18,693 1,038 5,157 1,101 2,044 933 837 2,971 691 682 728 782 1,72S TOTAL LIABILITIES 48,751,506 2666,319 12,324,495 2967,734 4143,657 2954,413 2501,440 8572,722 2012,136 1115,799 2130,802 1930,139 5431,85c Capital paid in 292,204 15,233 88,596 19,445 27,872 13,255 12,886 38,986 10,230 6,508 11,283 15,230 32,68c Surplus (Section 7) 660,901 40,309 188,070 47,773 60,222 33,480 29,480 96,566 26,619 16,918 24,755 29,985 66,721 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 2,14( Other capital accounts 140,076 9,308 31,492 9,882 12,485 9,215 7,853 20,534 7,254 4,957 6,987 6,550 13,55S TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,872,230 2734,180 12,639,972 3049,323 4245,242 3013,712 2552,421 8730,237 2056,760 1145,255 2174,964 1983,211 5546,95; Contingent liability on acceptances purchased for foreign correspondents 26,221 1,566 2/7,742 1,905 2,375 1,305 1,122 3,654 992 653 992 1,227 2,68f Industrial loan commitments 3,415 307 627 33 94 14 2,340 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,443,902 1611,099 5,929,012 1862,785 2474,365 1884,442 1353,749 5057,477 1203,40 7602,580 1049,492 752,466 2663,02f Collateral for F.R. notes: Gold certificates 11,008,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2200,000 355,ooo 175,000 280,000 283,000 1380,00c Eligible paper 143,534 22,598 -- 15,500 — 12,750 — -- 8,250 43,250 41,186 * — U. S. Govt, securities 17,155,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 3000,000 910,000 500,000 800,000 525,000 1620,00( Total collateral 28,306,534 1862,598 6,270,000 2015,500 2550,000 1987,750 1500,000 5200,000 1273,250 718,250 1121,16(5 808,000 3000,00c l/ After deducting $265,500,000 participations of other Federa lReserve Banks. 2/ After deducting $18,479,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis