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 23, I95S 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 22 increased $320 million to $18,998 million. The principal changes supplying reserves were decreases of $109 million in Other deposits with Federal Reserve Banks, $91 million in Treasury deposits with Federal Reserve Banks, $26 million in I6*5)1 deposits with Federal Reserve Banks, $23 million in Money in circulation, and $14 million in Treasury cash holdings, and an increase of $99 million in Reserve Bank credit. The principal offsetting change was an increase of $4l million in Other F. R. accounts (net). Estimated average excess reserves for the week increased $122 million to $709 million. The increase of $99 million in average Reserve Bank credit for the week resulted principally from an increase of $344 million in Float and decreases of $2Cb million in Member bank borrowings and $34 million in U. S. Government securities bought outright. As of Wednesday, June 22, Member bank borrowings were $430 million lower than a week earlier. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending and Related Items June 22, 1955 June 15, 19551 June 23, 1954 (In m: Lllions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,554 - 34 -1,432 Held under repurchase agreement — - - - 32 Acceptances—Bought outright 15 - 1 + 15 Loans, discounts, and advances-- Member bank borrowings 283 -206 + 105 Other 65 - 5 + 47 Float 1,137 +344 + 217 Total Reserve Bank credit 25,055 + 99 -1,079 Gold stock 21,676 -- - 250 Treasury currency outstanding 5,001 - - + 46 51,733 + 99 -1,282 Money in circulation 30,035 - 23 + 242 Treasury cash holdings 818 - 14 + 12 Treasury deposits with F. R. Banks 213 - 91 - 544 Foreign deposits with F. R. Banks 4o8 - 26 - 139 Other deposits with F. R. Banks 278 -109 - 18 Other F. R. accounts (net) 981 + 4l - 17 32,734 -221 - 463 Member bank reserve balances-- 18,998 +320 - 820 Required reserves (estimated) 18,289 +198 - 66>9 Excess reserves (estimated) 709 +122 - 151 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 21,677 Treasury cash holdings 820 Treasury currency outstanding 5,001 Member bank) - Required (est.) 18,264 Money in circulation 29,983 reserves ) - Excess (est.) 765 On June 22, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,339 million, an increase of $15 million for the week and an increase of $388 million from the comparable date Dig1iti zyede aforr F aRgASoE. R 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 June 22, June 15, June 23, 1955 1955 1954 A S S E TS Gold certificates 20,156,102 + 6,000 - 221,000 Redemption fund for F. R. notes 839,481 - 3,711 - 21,925 Total gold certificate reserves 20,995,583 + 2,289 - 242,925 F. R. notes of other Banks 202,466 + 13,742 + 55,576 Other cash 347,242 + 7,160 18,894 Discounts and advances 393,236 - 443,441 - 215,922 Industrial loans 550 - 3 695 Acceptances--Bought outright 14,943 - 1,450 + 14,943 U. S. Government securities: Bought outright-- Bills 832,450 -1,585,625 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 ~,5^5,625 Held under repurchase agreement - 92,000 Total U. S. Government securities 23,553^812 -1,677,625 Total loans and securities 23,962,541 - 444,894 -1,879,299 Due from foreign banks 22 Uncollected cash items 5,079,468 - 64,448 + 542,158 Bank premises 56,941 30 + 3,276 Other assets 134,410 + , 6,915 + 48,984 TOTAL ASSETS 50,778,673 - 479,266 -1,491,124 L I A B I L I T I ES Federal Reserve notes 25,671,252 39,358 + 253,520 Deposits: Member bank--reserve accounts 19,029,454 - 57,315 - 795,227 U. S. Treasurer—general account 98,431 - 260,008 -1,121,846 Foreign 418,071 + 17,046 - 125,988 Other 245,904 - 16,999 - 93,301 Total deposits 19,791,860 - 317,276 -2,136,362 Deferred availability cash items 4,143,353 - 128,963 + 357,256 Other liabilities and accrued dividends 20,505 + 1,326 2,48l TOTAL LIABILITIES 49,626,970 - 484 271 -1,520,067 C A P I T AL A C C O U N TS Capital paid in 294,402 194 + 22,254 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 168,857 4,8ii - 21,199 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,77^,673 479,266 -1,491,124 Ratio of gold certificate reserves to. deposit and F. R. note liabilities combined 46.2?I + 1,356 Contingent liability on acceptances purchased for foreign correspondents 26,648 143 + 11,404 Industrial loan commitments , 1,555 + 1.158 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 22, 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 334,600 267 5,919 248,950 16 days to 90 days 31,963 95 9,024 6,337,199 91 days to 1 year 26,673 45 10,765,699 Over 1 year to 5 years 143 3,773,493 Over 5 years to 10 years 1,013,614 Over 10 years 1.414.857 . Digitized for FRATSEoRt al 393,236 550 14,943 23,553,812 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 22, 1955 H.U.l(b) (In thousands of dollars) A S S E TS Total Boston New York Phi la. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,156,102 1030,996 5,464,772 1205,441 1769,457 1151,265 816,037 3651,926 794,032 350,803 797,263 703,169 2420,941 Redemption fund for F. R. notes 839,481 50,773 172.792 55,58? 72,969 69,020 51,447 149.935 45,951 24,191 40,844 27,914 78,060 Total gold certificate reserves 20,995,583 1081,769 5,637,564 1261,026 1842,426 1220,285 867,484 3801,861 839,983 374,994 838,107 731,083 2499,001 F O . t R h . e n r o c t a e s s h of other Banks 202,466 8,114 43,467 9,091 7,950 9,935 52,568 19,362 8,274 3,808 6,681 9,638 23,578 Discounts and advances 347,242 24,761 60,530 17,805 35,614 16,705 32,235 58,649 20,896 9,983 14,802 16,681 38,581 Industrial loans 393,236 8,190 28,843 22,698 17,003 24,197 32,593 105,510 8,626 42,843 61,083 13,457 28,193 550 466 84 Acceptances-- Bought outright 14,943 14,943 U. S. Govt, securities: -- " -- - — -- - - " -- Bought outright— Bills Certificates 832,450 45,971 211,563 50,665 71,543 49,042 42,969 145,202 34,545 20,173 36,203 33,380 91,194 Notes 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 Bo T nd o s t al 0 1 0 2 1 , C , 8 6 C 0 4 1 1 5 f , , t 7 8 io 3 5 7 0 6 1 4 5 3 4 , ,7 1 2 3 4 0 2 , ,9 I 5 1 9 2 , - 7 ? 31 1 7 1 0 7 8 0, , 5 7 2 8 0 9 1 2 0 4 0 0 0 ,7 ,8 9 7 1 8 6 1 8 6 6 5 , , 1 0 0 6 3 2 6 1 0 4 1 4 , , 1 6 3 2 5 1 2 4 0 8 3 8 1 ,7 ,3 0 4 1 8 4 1 8 1 3 6, , 2 2 6 7 7 9 2 6 8 7 2 , , 8 2 9 1 5 4 5 1 0 2 6 1 , , 4 8 7 4 7 8 4 1 6 1 6 2 , , 9 3 7 4 5 4 1 3 2 0 7 6 5 , , 9 7 2 7 6 8 570,779 1024,355 field under repurchase agreement 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 1024,355 944,46l 2580.273 Total loans and securities 23,962,541 1308,926 6,029,870 1456,696 2041,288 1411,846 1248,394 4213,931 986,062 613,706 1085,438 957,918 2608,466 Due from foreign banks Jncollected cash items Bank premises Dther assets TOTAL ASSETS 50,778,673 2822,319 12,881,985 3051,275 4419,679 3083,447 2563,046 8893,833 8059,931 1129,084 2213,800 2001,968 5658,306 Digitized for FRASER l/ After deducting $16,OOOparticipations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OB' EACH FEDERAL RESERVE BANK ON JUKE 22, 1955 1.4.1(c) (In thousands of dollars) L I A B I L I T I ES Total Boston Hew York Phila. Cleve. Rich. Atlanta Chicago St. Louis Mpls. Kane.Cy. Dallas SanFran. Federal Reserve notes 25,671,252 1573,673 5,767,024 1798,858 2369,37? 1839,989 1294,478 5001,135 1156,476 561,902 1025,924 706,012 2576,404 Deposits: Member bank-reserve accts. 19,029,454 812,978 5,584,100 885,440 1487,509 808,456 891,818 3043,641 665,866 419,003 930,93% 968,483 2531,226 U.S.Treasurer-general acct. 98,431 591 91,580 392 503 510 516 557 557 634 534 531 1,526 Foreign 418,071 24,420 1/129,890 29,711 37,037 20,350 17,501 56,980 15,466 10,175 15,466 19,129 4l,o46 Other 245,904 2,906 Total deposits 19,791,860 840,895 5,978,167 925,188 1531,057 831,298 911,160 3104,094 689,602 430,151 948,036 989,384 2612,828 Deferred avail, cash items 4,143,353 337,220 807,529 242,820 412,932 350,309 303,792 622,223 167,431 105,988 193,657 251,167 348,285 Other liabilities and accrued dividends 20,505 1,159 6,071 1,054 2,112 972 946 3,242 689 587 747 1,072 1,854 TOTAL LIABILITIES 49,626,970 2752,947 12,558,791 2967,920 4315,478 3022,568 2510,376 8730,694 2014,198 1098,628 2168,364 1947,635 5539,371 Capital paid in 294,402 15,333 88,794 19,455 28,011 13,296 13,206 39,206 10,278 6,693 11,343 15,441 33,346 Surplus (Section J) 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 3,3^9 762 1,429 521 1,073 1,137 1,307 2,l4o Other capital accounts 168,857 10,719 39,011 11,638 14,962 10,754 9,222 25,938 8,315 5,772 8,201 7,600 16,725 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,778,673 2822,319 12,881,985 3051,275 4419,679 3083,447 2563,046 8893,833 2059,931 1129,084 2213,800 2001,968 5658,306 Contingent liability on acceptances purchased for foreign correspondents 26,648 1,602 2/ 7,745 1,9^9 2,429 1,335 1,148 3,738 1,015 667 1,015 1,255 2,750 Industrial loan commitments 3,555 -- -- 393 627 11 90 14 -- -- 2,420 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,570,369 1626,576 5,9^6,745 1870,267 2474,302 1897,920 1364,676 5087,588 1201,997 596,757 1053,968 749,222 2700,351 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 1380,000 Eligible paper 152,491 4,990 — 18,805 — 21,530 — — 6,600 41,510 59,056 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 1620,000 Total collateral 28,315,491 1044,990 6,270,000 2018,805 2550,000 1996,530 1500,000 5200,000 1271,600 716,510 1139,056 808,000 3000,000 l/ After deducting $288,156,000 participations of other Federal Reserve Banks. 2/ After deducting $18,903,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis