H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 16, 1955 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of Member bank reserve balances for the week ending June 15 increased $30 million to $18,678 million. The principal changes supplying reserves were decreases of $136 million in Treasury deposits with Federal Reserve Banks and $29 million in Other deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $88 million in Reserve Bank credit and an increase of $47 million in Foreign deposits with Federal Reserve Banks. Estimated average excess reserves of member banks for the week decreased $14 million to $606 million. The decrease of $88 million in average Reserve Bank credit for the week resulted principally from decreases of $95 million in U. S. Government securities bought outright and $19 million in Float, and an increase of $26 million in Member bank borrowings. As of Wednesday, June 15, holdings of U. S. Government securities bought outright were $6l million lower than a week earlier and Member bank borrowings were $445 million higher. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, WWeeeekk EEnnddiinngg Change from Week Ending and Related Items JJuunnee 1155,, 11995555 June 8, 1955 June 16, 1954 (In mi illions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,588 - 95 -1,367 Held under repurchase agreement Acceptances--Bought outright 16 Loans, discounts, and advances-- Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) % + 1 1 489 + 26 + 372 70 + 44 793 - 19 + 128 24,956 - 88 - 808 21,676 + 1 - 249 5,001 - 1 + 44 51,634 - 86 -1,011 30,058 - 1 + 188 832 - 3 + 19 304 -136 - 37 434 + 47 - 115 387 - 29 + 160 940 + 5 + 30 32,955 -117 + 244 Member bank reserve balances-- 18,678 + 30 -1,256 Required reserves (estimated) 18,072 + 44 - 971 Excess reserves (estimated) 606 - 14 - 285 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 21,676 Treasury cash holdings 833 Treasury currency outstanding 5,002 Member bank) - Required (est.) 18,124 Money in circulation 30,033 reserves ) - Excess (est.) 963 On June 15, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,324 million, an increase of $15 million for the week and an increase of $368 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) June 15, June 8, June 16, 1955 1955 1954 A S S E TS Gold certificates 20,150,102 + 4,999 - 227,000 Redemption fund for F. R. notes 843,192 2,596 - 20,972 • Total gold certificate reserves 20,993,294 + 2,403 - 247,972 F. R. notes of other Banks 188,724 + 9,367 + 41,357 Other cash 340,082 + 10,611 - 23,969 Discounts and advances 836,677 + 445,210 + 701,151 Industrial loans 553 + 73 748 Acceptances—Bought outright 16,393 + 500 + 16,393 U. S. Government securities: Bought outright— . Bills 832,450 6l,000 -1,356,725 Certificates 8,273,775 - - +1,673,984 Notes 11,645,837 - - -1,383,184 Bonds 2,801,750 - 290,800 -- Total bought outright 23,553,812 - 61,000 -1,356,725 Held under repurchase agreement Total U. S. Government securities 23,553,812 61,000 -1,356,725 - Total loans and securities 24,407,435 + 384,783 - 639,929 Due from foreign banks 22 — •» Uncollected cash items 5,143,916 +1,333,169 + 227,695 Bank premises 56,971 173 + 3,358 4* Other assets 127,495 - 42,533 + 49,216 TOTAL ASSETS 51,257,939 +1,697,973 - 590,244 L I A B I L I T I ES Federal Reserve notes 25,710,610 + 1,339 + 225,399 Deposits: Member bank--reserve accounts 19,086,769 + 604,021 - 827,036 U. S. Treasurer—general account 358,439 + 68,873 - 100,866 Foreign 401,025 547 - 141,910 Other 262,903 - 130,514 + 64,338 Total deposits 20,109,136 + 541^833 -1,005,474 Deferred availability cash items 4,272,316 +1,150,384 + 152,801 Other liabilities and accrued dividends .19,179 417 808 TOTAL LIABILITIES 50,111,241 +1,693,139 - 628,082 C A P I T AL A C C O U N TS Capital paid in 294,208 243 + 22,179 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 164,046 + . 4,591 - 20,229 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,257,939 +1,697,973 - 590,244 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8# .6# .2# Contingent liability on acceptances purchased for foreign correspondents 26,791 56 + 10,414 Industrial loan commitments 3,555 21 + MATURITY DISTRIBUTION OF LOANS AND SECURITIES ,JUNE 15, 1955 (Acceptances and securities held under repurebase agreement classified as maturing within 15 days in accordance with maximum maturity of the ag^eeman-tBc) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 778,259 269 6,467 273,850 16 days to 90 days 31,739 95 9,926 6,312,299 91 days to 1 year 26,679 45 10,765,699 Over 1 year to 5 years — — 144 -»— 3,773,493 Over 5 years to 10 years — «•» mm w mm «•» 1,013,614 Over 10 years +> «* — 1.414,857 Digitized for FRA T S o E t R a l 036,677 553 16,393 23,553,812 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 15, 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 SanFran. Gold certificates 20,150,102 988,024 5,421,418 1263,349 1716,387 1149,886 818,479 3669,108 818,639 369,476 804,577 713,994 2416,765 Redemption fund for F. R. notes 843,192 51,007 173,545 5566,,001100 7733,,228811 70,078 5511,,662266 150,266 46,038 24,224 40,914 27,982 78,221 Total gold certificate reserves 20,993,294 1039,031 5,594,963 1319,359 1789,668 1219,964 870,105 3819,374 864,677 393,700 845,491 741,976 2494,986 F.R. notes of other Banks 188,724 6,384 40,582 5,314 8,009 9,703 52,361 17,071 8,029 4,l84 6,639 9,252 21,196 Other cash 340,082 24,018 67,999 14,555 37,305 16,071 30,055 55,069 18,654 9,276 13,528 15,828 37,724 Discounts and advances 836,677 14,880 174,812 96,447 85,307 15,853 42,967 223,571 20,988 59,472 61,130 15,683 25,567 Industrial loans 553 — — 469 — -- — -- -- 84 — — -- Acceptances-- Bought outright 1166,,339933 -- 1166,,339933 -- -- -- -- -- -- — — - — — — U. S. Govt, securities; Bought outright— Bills 832,450 45,971 221111,,556633 5500,,666655 71,543 49,042 42,969 145,202 34,545 20,173 36,203 33,380 91,194 Certificates 8,273,775 456,911 2,102,739 503,558 711,073 487,442 427,076 1443,170 343,345 200,497 359,827 331,762 906,375 Notes 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 1275,778 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 , , . . _ . . _ , Held under repurchase &^jL*660l6Tlt — mm mm mm w •> * • •• * « • • •» • mm mm mm mm mm mu mm mm Total U. S. Government securities 23,553,812 1300,736 5,986,084 1433,532 2024,285 1387,649 1215,801 4108,421 977,436 570,779 1024,355 944,461 2580,273 Total loans and securities 24,407,435 1315,6l6 6,177,289 1530,448 2109,592 1403,502 1258,768 4331,992 998,424 630,335 1085,485 960,144 2605,840 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,143,916 379,371 972,205 252,478 517,960 389,524 369,089 853,362 222,569 154,679 289,615 263,911 479,153 Banks premises 56,971 5,830 7,125 5,206 5,366 4,569 4,2*10 6,187 2,810 1,202 3,222 1,557 9,657 Other assets 127,495 6,664 30,784 7.220 10,684 7,429 7,119 23.369 5,571 3,035 5,475 6.343 13,802 TOTAL ASSETS 51,257,939 2776,915 12,890,953 3134,582 4478,586 3050,763 2591,738 9106,427 2120,735 1196,412 2249,456 1999,012 5662,360 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 JUNE 15 ,1955 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 SanFran Federal Reserve notes 25,710,610 1573,688 5,773,206 1803,378 2364,642 1846,249 1296,916 5003,689 1159,676 563,395 1028,076 709,264 2588,43: Deposits: Member bank-reserve accts. 19,086,769 749,617 5,709,008 888,154 1527,196 773,078 881,417 3106,440 699,453 437,937 922,341 970,623 2421,50; U.S.Treasurer-general acct 358,439 13,374 66,286 16,790 19,886 23,266 18,680 67,694 15,249 15,887 19,108 21,467 60,75: Foreign 401,025 23,820 1/119,524 28,981 36,127 19,850 17,071 55,580 15,086 9,925 15,086 18,659 40,911 Other 262,903 3,135 183,206 10,197 6,048 2,368 1,198 3,509 6,747 66l 6,946 1,327 37,56; Total deposits 20,109,136 789,946 6,078,424 944,122 1589,257 818,562 918,366 3233,223 736,535 464,410 963,481 1012,076 2560,7^ Deferred avail, cash items 4,272,316 343,109 711,854 302,993 418,960 324,466 323,104 704,299 178,348 137,604 212,035 222,550 392,99^ Other liabilities and accrued dividends 19,179 1,093 5,549 1,028 1.912 867 936 2,999 658 674 699 971 1,79: TOTAL LIABILITIES 50,111,241 2707,836 12,569,033 3051,521 4374,771 2990,144 2539,322 8944,210 2075,217 1166,083 2204,291 1944,861 5543,95; Capital paid in 294,208 15,331 88,741 19,450 28,001 13,282 13,170 39,192 10,262 6,690 11,310 15,436 33,34: 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 66,72J 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 164,046 10,428 37,790 11,349 14,586 10,508 9,004 25,030 8,116 5,648 7,963 7.423 16,20: TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,257,939 2776,915 12,890,953 3134,582 4478,586 3050,763 2591,738 9106,427 2120,735 1196,412 2249,456 1999,012 5662,36 Contingent liability on acceptances purchased for foreign correspondents 26,791 1,608 2/7,817 1,956 2,439 1,340 1,152 3,752 1,018 670 1,018 1,260 2,76 Industrial loan commitments 3,555 391 627 11 92 14 2,420 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,567,912 1617,393 5,947,225 1864,021 2465,309 1904,300 1367,388 5091,977 1204,923 597,469 1057,839 749,684 2700,3® Collateral for F.R. notes: Gold certificates 11,108,000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2300,000 355,000 175,000 280,000 283,000 1380,00( Eligible paper 249,837 10,880 91,580 12,520 18,455 57,805 58,597 U. S. Govt, securities 17,055,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 2900,000 910,000 500,000 800,000 525,000 l620,00( Total collateral 28,412,837 1650,880 6,270,000 2091,580 2550,000 1987,520 1500,000 5200,000 1283,455 732,805 1138,597 808,000 3000,00% l/ After deducting $281,076,000 participations of other Federal Reserve Banks. 2/ After deducting $18,974,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis