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 19, 1955 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT A,ND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of Member bank reserve balances for the week ending May 18.decreased $67 million to $18,853 million. The principal changes decreasing reserves were increases of $54 million in Foreign deposits with Federal Reserve Banks, $30 million in Treasury deposits with Federal Reserve Banks, $18 million in Money in circulation, and $10 million in Treasury cash holdings, and a decrease of $16 million in Reserve Bank credit. The principal offsetting change was a decrease of $65 million in Other deposits with Federal Reserve Banks. Estimated average excess reserves of member banks for the week decreased $74 million to $660 million. The decrease of $16 million in average Reserve Bank credit for the week resulted principally from decreases of $114 million in U. S, Government securities held under repurchase agreement, $38 million in U. S. Government securities bought outright, and $53 million in Member bank borrowings, and an increase of $192 million in Float. At the end of the week, May 18, holdings of U. S. Government securities bought outright were $90 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $56 million lower, and Member bank borrowings were $36 million lower. Holdings of certificates decreased $1,687 million and notes increased a like amount, reflecting the exchange of maturing certificates for the new issue of 15-month notes. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, WWeeeekk EEnnddiinngg Change from Week Ending and Related Items MMaayy 1188,, 11995555 May 11. 1955 May 19, 1954 (In mji llions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,664 - 38 -976 Held under repurchase agreement 23 -114 + 4 Acceptances--Bought outright 15 - - + 15 Loans, discounts, and advances-- Member bank borrowings 236 - 53 +116 Other 81 - 4 + 57 Float 888 +192 +149 Total Reserve Bank credit 24,908 - 16 -634 Gold stock 21,672 + 1 -293 Treasury currency outstanding 4,999 + 44 — 51,579 - 16 Money in circulation 29,877 + 18 +108 Treasury cash holdings 821 + 10 -17 Treasury deposits with F. R. Banks 310 + 30 -241 Foreign deposits with F. R. Banks 417 + 54 -115 Other deposits with F. R. Banks 377 - 65 - 3 4 Other F. R. accounts (net) 924 + 4 + 62 32,726 + 51 -236 Member bank reserve balances -- 18,853 - 67 -653 Required reserves (estimated) 18:193 + 7 -592 Excess reserves (estimated) 660 - 74 - 61 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 21,673 Treasury cash holdings 825 Treasury currency outstanding 4,999 Member bank) - Required (est.) 18,287 Money in circulation 29,826 reserves ) - Excess (est.) 592 On May 18, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,207 million, an increase of $39 million for the week and an increase of $244 million from the comparable date a Digitizyeeda forr aFRgAoS.E R http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.U.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 18, May 11, May 19, 1955 1955 1954 A S S E TS Gold certificates 20,138,103 + 1 - 278,996 Redemption fund for F. R. notes 851,845 329 - 12,011 Total gold certificate reserves 20,989,948 328 - 291,007 F. R. notes of other Banks " 203,026 + 1,952 + 62,447 Other cash 363,171 + 2,217 - 6,579 Discounts and advances 324,181 - 40,778 + 146,785 Industrial loans 633 9 723 Acceptances—Bought outright 13,894 311 + 13,894 U. S. Government securities: Bought outright-- Bills 891,050 89,500 -1,074,925 Certificates 8,273,775 -1,686,366 +1,673,984 Notes 11,645,837 +1,686,366 -1,383,184 Bonds 2,801,750 - 290,800 — — Total bought outright 23,612,412 - 89,500 -1,074,925 Held under repurchase agreement - 55,672 — -- Total U. S. Government securities 23,612,412 - 145,172 -1,074,925 Total loans and securities 23,951,120 - 186,270 - 914,969 Due from foreign banks 22 -- -- Uncollected cash items 4,837,122 + 874,345 + 780,077 Bank premises 56,419 + 408 + 2,946 Other assets 150,687 - 13,039 - 19,537 TOTAL ASSETS 50,551,515 + L I A B I L I T I ES Federal Reserve notes 25,535,111 7,579 + 123,225 Deposits: Member bank--reserve accounts 18,879,281 + 201,967 - 8o6,864 U. S. Treasurer--general account 391,719 + 8,483 - 26,447 Foreign 407,223 + 18,896 - 125,743 Other 307,346 - 113,040 - 82,819 Total deposits 19,985,569 + 116,306 -1,041,873 Deferred availability cash items 3,886,707 + 565,847 + 491,949 Other liabilities and accrued dividends 17,778 - , 915 2,522 TOTAL LIABILITIES 49,425,165 + 673,659 - 429,221 C A P I T AL A C C O U N TS Capital paid in 293,209 1,005 + 21,710 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 144,697 + 4,621 - 14,999 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,551,515 + 679,265 - 386,622 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.1# .1$ + .3# Contingent liability on acceptances purchased for foreign correspondents 26,527 + 306 + 12,855 Industrial loan commitments .. 3,502. + 87 + 1,197 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY l8, 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 247,259 15 5,553 204,900 l6 days to 90 days 36,922 338 8,341 6,439,849 91 days to 1 year 40,000 134 10,765,699 Over 1 year to 5 years 146 3,773,493 Over 5 years to 10 years 1,013,614 Over 10 years __ ,1,414,857 Digitized for FRA T S o E t R a l 324,l8l 633 13,894 23,612,412 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 18, 1955 H.4.1(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 Gold certificates Redemption fund for F. R. notes Total gold certificate reserves F.R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances-- Bought outright U. S. Govt, securities: Bought outright-- Bills Certificates Notes Bonds Total Held under repurchase agreement Total U. S. Government securities " Due from foreign banks Uncollected cash items Bank premises Other assets I CO 20,138,103 985,072 5,823,817 1191,327 1679,999 1099,527 807,098 3581,413 763,896 346,595 830,332 727,730 2301,29' 851,845 51,351 175,050 54,614 73,788 71,288 51,907 155,758 46,183 24,278 41,032 28,088 78,501 20,989,948 1036,423 5,998,867 1245,941 1753,787 1170,815 859,005 3737,171 810,079 370,873 871,364 755,818 2379,80: 203,026 9,872 43,479 6,216 10,963 8,220 58,089 16,559 8,154 3,076 5,560 10,602 22,231 363,171 28,123 87,107 15,546 37,934 17,515 32,262 54,291 17,736 10,112 12,190 14,426 35,92! 324,181 16,360 41,995 32,505 14,970 24,515 33,515 47,350 27,840 40,150 35,331 8,610 U,o4< 633 546 87 13,894 13,894 — - — — -- -- -- -- 891,050 49,207 226,455 54,232 76,580 52,495 45,993 155,423 36,977 21,594 38,752 35,729 97,61: 8,273,775 456,911 2,102,739 503,558 711,073 487,442 427,076 1443,170 343,345 200,497 359,827 331,762 906,37: 11,645,837 643,130 2,959,731 708,789 1000,878 686,103 601,135 2031,348 483,279 282,214 506,477 466,975 1275,771 2,801,750 154,724 712,051 170,520 240,791 165,062 144,621 488,701 116,267 67,895 121,848 112,344 306,921 23,612,412 1303,972 6,000,976 1437,099 2029,322 1391,102 1218,825 4118,642 979,868 572,200 1026,904 946,810 2586,69: 23,612,412 1303,972 6,000,976 1437,099 2029,322 1391,102 1218,825 4118,642 979,868 572,200 1026,904 946,810 2586,69; 23,951,120 1320,332 6,056,865 1470,150 2044,292 1415,617 1242,340 4165,992 1007,708 612,437 1062,235 955,420 2597,73: 22 1 1/6 2 2 1 1 3 1 1 1 1 4,837,122 378,820 903,987 285,110 454,004 382,910 348,385 788,519 202,873 121,932 242,464 247,412 480,701 56,419 5,823 7,a*r 5,229 5,325 4,436 4,180 6,207 2,810 1,106 3,128 1,423 9,60! 150,687 7,983 36,520 8,776 12,754 8,799 8,219 27,229 6,472 3,587 6,625 7,257 16,46 TOTAL ASSETS 50,551,515 2787,377 13,133,978 3036,970 4319,06l 3008,313 2552,481 8795,971 2055,833 1123,124 2203,567 1992,359 55*2,48 1/ 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 MAY 18, 1955 3.4.1(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 SanFran, Federal Reserve notes 25,535,111 1562,540 5,737,765 1794,034 2352,716 1827,690 1284,600 4975,849 1154,833 567,612 1022,413 706,683 2548,376 Member bank-reserve accts. 18,879,281 789,963 5,678,070 895,251 1439,701 782,480 897,782 2956,189 673,141 407,454 919,209 989,235 2450,806 U.S.Treasurer-general acct. 391,719 526 384,532 736 579 527 593 578 506 537 522 510 1,573 Foreign 407,223 23,700 1/ 127,538 28,835 35,945 19,750 16,985 55,300 15,010 9,875 15,010 18,565 40,710 Other 307,346 2,536 229,446 9,358 4,330 2,473 1,257 3,067 6,799 1,165 2,766 1,236 42,913 Total deposits 19,985,569 816,725 6,419,586 934,180 1480,555 805,230 916,617 3015,134 695,456 419,031 937,507 1009,546 2536,002 Deferred avail, cash items 3,886,707 339,023 655,089 225,917 381,824 314,945 299,183 643,773 160,127 106,296 198,627 221,742 340,l6l Other liabilities and accrued dividends 17,778 1,004 4,812 972 1,959 894 877 2,832 624 495 661 954 1,694 TOTAL LIABILITIES 49,425,165 2719,292 12,817,252 2955,103 4217,054 2948,759 2501,277 8637,588 2011,040 1093,434 2159,208 1938,925 5426,233 Capital paid in 293,209 15,233 88,620 19,450 27,897 13,258 12,886 38,991 10,237 6*629 11,289 15,428 33,291 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 66,724 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,l4o Other capital accounts 144,697 9,532 32,717 10,155 12,882 9,467 8,076 21,397 7>4l6 5>070 7,178 6,714 14^0^3 TOTAL LIABILITIES AND „ , , , , „ • CAPITAL ACCOUNTS 50,551,515 2787,377 13,133,978 3036,970 4319,061 3008,313 2552,481 8795,971 2055,833 1123,124 2203,567 1992,359 5542,481 Contingent liability on acceptances purchased , „ ,. , for foreign correspondents 26,527 1,584 2/7,836 1,927 2,403 1,320 1,135 3,696 1,003 660 1,003 1,241 2,719 Industrial loan commitments 3,502 -- — 314 627 33 94 14 -- ~™ 2,420 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,443,991 1615,182 5,932,890 1855,208 2475,663 1885,250 1348,461 5068,042 1200,569 601,028 1050,463 749,860 2661,375 Collateral for F.R. notes: Gold certificates 11,008,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2200,000 355,000 175,000 280,000 283,000 1380,000 Eligible paper 153,981 11,560 -- 26,665 — 20,515 — " 24,800 38,150 32,291 -- — U. S. Govt, securities 17,155,000 1200,000 3,60Q,000 1200,000 1500,000 1300,000 1000,000 3000,000 910,000 500,000 800,000 525,000 1620,000 Total collateral 28,316,981 1851,560 6,270,000 2026,665 2550,000 1995,515 1500,000 5200,000 1289,800 713,150 1112,291 808,000 3000,000 1/ After deducting $279,660,000 participations of other Federal Reserve Banks. 2/ After deducting $18,691,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis