H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM July 7, 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 f-or the week ending July 6 decreased $44 million to $18,609 million. The principal changes reducing reserves were increases of $277 million in Money in circulation, $193 million in Other deposits with Federal Reserve Banks, and $97 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $450 million in Reserve Bank credit, and decreases of $58 million in Foreign deposits with Federal Reserve Banks and $11 million in Other F. R. accounts (net). Estimated average excess reserves of member banks for the week increased $28 million to $517 million. The increase of $450 million in average Reserve Bank credit for the week resulted principally from increases of $233 million in Member bank borrowings, $138 million in U. S. Government securities bought outright, $69 million in Float, and $11 million in U. S. Government securities held under repurchase agreement. As of Wednesday, July 6, holdings of U. S. Government securities bought outright were $290 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $4 million higher, and Member bank borrowings were $123 million lower. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending and Related Items July 6, 1955 1 or ox 19551 July 7, 195J (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,692 +138 -1,346 Held under repurchase agreement 11 + 11 - 33 Acceptances--Bought outright 1155 - 1 + 1155 Loans, discounts, and advances — Member bank borrowings 635 +233 + 579 Other 54 — ~ + 38 Float 858 + 69 -f 183 Total Reserve Bank credit 25,265 +450 564 - Gold stock 21,678 4- 1 249 Treasury currency outstanding 5,003 + 2 4- 44 51,946" +454 - 769 Money in circulation 30,298^ +277 + 232 Treasury cash holdings 815- 4 + 1 - 6 Treasury deposits with F. R. Banks 420 + 97 44 Foreign deposits with F. R. Banks 367 - 58 221 Other deposits with F. R. Banks 468 +193 4- 55 Other F. R. accounts (net) 970 - 11 16 33,337 +498 l - Member bank reserve balances-- 18,609 - 44 768 Required reserves (estimated) 18,092 - 72 327 - Excess reserves (estimated) 517 + 28 44l 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 21,678 Treasury cash holdings 818 Treasury currency outstanding 5*003 Member bank) Required (est.) 18, 044 - Money in circulation 30,421 reserves ) - Excess (est.) 431 On July 6, 1955) U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,297 million, a decrease of $24 million for the -week and an increase of $364 million from the comparable date Digitizae dy feora FrR AaSgEoR. 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 July 6, June 29, July 7, 1955 1955 1954 A S S E TS Gold certificates 20,156,103 + 3 230,999 Redemption fund for F. R. notes 834,642 2,925 22,923 - - Total gold certificate reserves 20,990,7^5 2,922 253,922 - - F. R. notes of other Banks 156,773 - 19,314 + 22,321 Other cash 311,926 - 30,924 - 16,870 Discounts and advances 599,152 - 122,799 + 515,175 Industrial loans 445 - 27 - 497 Acceptances—Bought outright 15,130 1,352 15,130 4" U. S. Government securities: Bought outright— Bills 1,122,800 + 290,350 -] L,193,275 Certificates 8,273,775 -«• +1,673,9% Notes 11,645,837 -1,383,184 —— Bonds 2,801,750 290,800 -- - Total bought outright 23,844,162 + 290,350 -1,193,275 Held under repurchase agreement 4,000 + 4,000 + 4,000 Total U. S. Government securities 23,848,162 + 294,350 -1,189,275 Total loans and securities 24,462,889 + 170,172 - 659,467 Due from foreign hanks 22 Uncollected cash items 3,940,872 - 452,126 + 511,995 Bank premises 57,081 65 + 3,534 Other assets 149,306-"^ 9,342 + 48,460 TOTAL ASSETS 50,069,6i4. - 325,837 - 343,949 01 L I A B I L I T I ES 11 Federal Reserve notes 26,018,087 + 237,670 + 217,173 Deposits: Member bank--reserve accounts 18,474,760 119,828 931,143 U. S. Treasurer—general account 468,296 + 123,907 + 168,761 Foreign 382,478 - 24,661 - 188,897 Other —>51,431 + 43,493 + 71,434 Total deposits 19,776,971 + 22,911 - 879,845 Deferred availability cash items 3,098,358. - 585,264 + 263,556 Other liabilities and accrued dividends 13,60}^ - 7,231 - 243 TOTAL LIABILITIES 48,907,01^0 331,914 379,359 C A P I T AL A C C O U N TS Capital paid in 295,563 951 + 22,777 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 178,590 + 5,126 23,255 TOTAL LIABILITIES AND CAPITAL ACCOUNTS - 325,837 - 343,949 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8% .3$ + .1% ~ Contingent liability on acceptances purchased for foreign correspondents 25,075 ~ 1,131 + 13,139 Industrial loan commitments . 3,438, 131, + 2&5 MATURITY DISTRIBUTION OF LOANSAND SECURITIES, JULY 6, 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 537,921 15 6,58V * 122,650 16 days to 90 days 47,861 218 8,546- 7 6,757,849 91 days to 1 year 13,370 79 10,765,699 Over 1 year to 5 years 133 3,773,493 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER 1,414,8,9,7 Total http://fraser.stlouisfed.org/ 599,152 445 15,130 23,848,162 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 6, 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 20,156,103 1016,511 5,425,738 1230,060 1714,020 1144,950 823,152 3579,740 826,607 368,749 850,895 769,746 2405,93! Redemption fund for F. R. notes 834,642 50,485 171,802 55,084 72,556 67,590 51,196 149,519 45,839 24,151 40,749 27,831 77,84< Total gold certificate reserves 20,990,745 1066,996 5,597,540 1285,144 1786,576 1212,540 874,348 3729,259 872,446 392,900 891,644 797,577 2483,77! F.R. notes of other Banks 156,773 4,078 28,193 4,256 5,698 8,388 44,924 15,733 7,134 4,421 5,533 9,639 18,77* Other cash 311,926 21,951 49,979 16,166 37,251 12,685 28,795 58,692 18,689 8,403 12,394 16,363 30,55* Discounts and advances 599,152 22,400 107,088 41,238 70,853 25,222 44,993 165,042 11,327 43,274 30,346 17,076 20,29; Industrial loans 445 36l 84 Acceptances— Bought outright 15,130 — 15,130 — -- — - -- — - -- — -- U. S. Govt, securities: Bought outright— Bills 1,122,800 62,005 285,353 68,336 96,497 66,148 57,956 195,847 46,594 27,210 48,831 45,022 123,00] Certificates 8,273,775 456,911 2,102,739 503,558 711,073 487,442 427,076 1443,170 343,345 200,497 359,827 331,762 906,37! 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 1275,77* Bonds 2,801,750 154,724 712,051 170,520 240,791 165,062 144,621 488,701 116,267 67,895 121,848 112,344 306,92* Total _ Held under repurchase agreement 4,000 4,000 Total U. S. Government securities 23,848,162 1316,770 6,063,874 1451,203 2049,239 1404,755 1230,788 4159,066 989,485 577,816 1036,963 956,103 2612,08( Total loans and securities 24,462,889 1339,170 6,186,092 1492,802 2120,092 1429,977 1275,781 4324,108 1000,812 621,174 1067,329 973,179 2632,37: Due from foreign banks 22 l l/ 6 2 2 1 1 3 1 1 1 1 j Uncollected cash items 3,940,872 316,876 8477420 243,159 347,979 326,180 274,251 561,599 165,273 103,637 189,576 188,265 376,651 Bank premises 57,08l 5,797 7,082 5,184 5,366 4,557 4,229 6,168 2,805 1,242 3,189 1,554 9,90£ Other assets 149,306^7,658 36,28^ 8,584 12,825 8,718 8,183 27,874 6,392 3,491 6,400 7,086 15.801 0*1 TOTAL ASSETS 50,069,634. 2762,527 12,752,TO© 3055,297 4315,789 3003,046 2510,512 8723,436 2073,552 1135,269 2176,066 1993,664 5567,851 Digitized for FRASER l/ After deducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 6, 1955 (In thousands of dollars) H.4.1(c) Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Total Boston New York t I A B I L I T IE 11 Federal Reserve notes 26,018,08? 1611,957 5,856,884 1812,920 2389,579 1873,165 1311,123 5048,833 1167,020 563,191 1035,434 714,073 2633,908 Deposits: Member bank-reserve accts. 18, 749,445 5,427,500 899,226 1457,913 752,434 867,818 2975,054 665,779 419,927 873,394 993,626 2392,644 U.S.Treasurer-general acct. 468,296 29,923 68,114 22,991 38,235 25,277 29,650 44,889 33,275 24,358 48,035 47,058, 56,491 Foreign 382,478 22,380 1/118,369 27,229 33,943 18,650 16,039 52,220 14,174 9,325 14,174 17,531 38,444 Other 451.437 1.82L 167.198 9.024 8.689 3.713 1.511 1.246 8.62Zt 1,132 5.491 1.635 41.550 Total deposits 19,776,971 803,572 5,981,181 958,470 1538,780 800,074 915,018 3073,409 721,852 454,742 941,094 1059,650 2529,129 Deferred avail, cash items 3,098,358 276,059 584,638 199,264 280,668 267,719 230,578 433,613 138,138 86,248 152,964 164,713 283,756 Other liabilities and #0 accrued dividends 13.60^ H 790 3.999- 698 1.702 619 611 2.543 462 409 486 L95 989 0 443 TOTAL LIABILITIES 48,907,01T2692,378 12,426,566 2971,352 4210,729 2941,577 2457,330 8558,398 2027,472 1104,590 2129,978 1938,931 5447,785 Capital paid in 295,563 15,714 88,938 19,465 28,099 13,352 13,238 39,278 10,317 6,703 11,584 15,488 6 3 6 3 , , 7 3 2 81 4 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 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 2,14C Other capital accounts 178.590 11.115 41.773 12.218 15.733 11.288 9.702 27.765 8.623 5.985 8.612 7.953 17.823 TOTAL LIABILITIES AND 8723,436 2073,552 1135,269 2176,066 1993,664 5567,856 CAPITAL ACCOUNTS 50,069,63* 2762,527 12,752,666 3055,297 4315,789 3003,046 2510,512 CI Contingent liability on acceptances purchased for foreign correspondents 25,075 1,506 2/7,304 1,832 2,284 1,255 1,079 3,514 954 628 954 1,180 2,58! Industrial loan commitments 3,438 423 627 11 90 12 2,275 FEDERAL RESERVE AGENTS' ACCOUNTS 753,050 2725,42( F. R. notes outstanding 26,760,670 1636,813 6,013,412 1867,961 2488,466 1917,487 1364,510 5142,938 1200,602 593,827 1056,184 Collateral for F.R. notes: Gold certificates 11,108,000 640,000 2,670,000 800,000 1050*000 675,900 500,000 2300,000 355,000 175,000 280,000 293,000 1380,G0( S41,9a41 28,31 9g ffgj&a Eligible paper 158,660 19,200 U. S. Govt, securities Total collateral l/ After deducting $264,084,000 participations of other Federal Reserve Banks. 2/ After deducting $ 17,771,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis