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 21, 1955 WEEKLY AVERAGES OF MEMBER BANK RESERVES, 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 July 20 decreased $5 million to $18,774 million. The principal changes reducing reserves were a decrease of $139 millio nin Reserve Bank credit and an increase of $35 million in Foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $129 million in Money in circulation, $24 million in Treasury deposits with Federal Reserve Banks, and $10 million in Treasury cash holdings. Estimated average excess reserves of member bank sfor the week decreased $145 millio nto $585 million. The decrease of $139 millio nin average Reserve Bank credit for the week resulted principally from decreases of $330 millio nin Member ban kborrowings and $14 million in U. S. Government securities held under repurchase agreement, and an increase of $205 millio nin Float. As of Wednesday, July 20, Member ban kborrowings were $57 million higher than a week earlier. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending I Change from Week Ending and Related Items July 20. 19551 July 13. 19551 July 21. 1954 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 23,943 — - 822 Held under repurchase agreement — - 14 — Acceptances1—Bought outright 14 - 1 + 14 Loans, discounts, an dadvances- Member bank borrowings 302 -330 + 245 Other 55 + 1 + 38 Float 1,118 +205 + 285 Total Reserve Bank credit 25,432 -139 - 241 Gold stock 21,680 + 1 - 251 Treasury currency outstanding 5.003 — + 45 52,115 -138 - 446 Money in circulation 30,287 -129 + 355 Treasury cash holdings 793 - 10 - 14 Treasury deposits with F. R. Banks 416 - 24 — 83 Foreign deposits with F, R. Banks 460 + 35 191 - Other deposits with F. R. Banks 415 - 4 - 13 Other F. R. account s(net) 970 - 1 - 13 33,341 -133 + a Member bank reserve balances- 18,774 - 5 487 Required reserves (estimated) 18,189 +140 - 167 Excess reserves (estimated) 585 -145 - 320 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 21,681 Treasury cash holdings 802 Treasury currency outstanding 5,003 Member bank) - Required (est.) 18,291 Money in circulation 30,197 reserves ) - Excess (est.) 519 On July 20, 1955, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,282 million, an increase of $3 million for the week and an increase of $351 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since July 20, July 13, July 21, 1955 11995555 1954 A S S E TS Gold certificates 20,161,101 + 2,997 - 230,999 Redemption fund for F, R. notes 836,973 + 2,000 - 15,853 Total gold certificate reserves 20,998,074 + 4,997 - 246,852 F. R. notes of other Banks 227,745 16,437 + 49,830 Other cash 348,805 + 17,490 - 29,920 Discounts and advances 570,119 + 66,624 + 476,807 Industrial loans 379 67 - 671 Acceptances—Bought outright 12,389 - 3,033 + 12,389 U. S. Government securities: Bought outright- Bills 1,222,200 w - 770,875 Certificates 8,273,775 +1, 673,984 Notes 11,645,837 — — -1,383,184 Bonds 2,801,750 —— - 290,800 Total bought outright 23,943,562 WW • 770,875 Held under repurchase agreement — — Total U. S. Government securities 23,943,562 — — , 770,875 Total loans and securities 24,526,449 + 63,524 282,350 Due from foreign banks 22 — — m #» Uncollected cash items 4,643,523 + 78,534 + 789,097 Bank premises 57,715 + 4l8 + 3,951 Other assets 160,483 + 6,475 + 43,897 TOTAL ASSETS 50,962,816 + 187,875 + 327,653 L I A B I L I T I ES Federal Reserve notes 2255,,888899,,550022 - 92,557 + 315,631 Deposits: Member bank—reserve accounts 18,809,901 + 53,182 - 330,694 U. S. Treasurer—general account 564,133 + 226,588 + 28,253 Foreign 439,074 - 9,743 - 189,874 Other 414,923 + 19,446 + 12,633 Total deposits 20,228,031 + 289,473 - 479,682 Deferred availability cash items 3,658,164 - 14,596 + 458,211 Other liabilities and accrued dividends 14,399 + 599 - 205 TOTAL LIABILITIES 49,790,096 "b 182,919 + 293,955 C A P I T AL A C C O U N TS Capital paid in 296,029 + 153 + 22,692 Surplus (Section 7) 660,901 35,888 Surplus (Section 13b) 27,543 -- Other capital accounts 188,247 + 4,803 - 24,882 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,962,816 + 187,875 + 327,653 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5% - .2# - .4# Cotttinges* liability on aeeeptas&ss pyftih&eM for foreign correspondents 23,749 - 1,984 + 14,643 Industrial loan commitments 3,503 + 65 + 1,071 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 20, 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 523,031 78 5,775 305,900 16 days to 90 days 33,698 90 6,614 6,669,999 91 days to 1 year 13,390 79 10,765,699 Over 1 year to 5 years 132 3,773,493 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER http://fraser.st T lo o u t is a fe l d. org/ 570,119 379 12,389 23,943,562 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON JULY 20 ,1955 H.U.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 20,161,101 1036,124 5 , 4 5 0 , 6 95 1158,710 1740,426 1164,822 8 0 4 , 0 95 3 7 1 7 , 9 09 776,444 3 5 7 , 4 25 8 3 4 , 3 50 704,860 2415,24l Redemption fund for F. R. notes 8 3 6 , 9 73 5 2 , 3 43 1 7 1 , 2 25 56,846 7 3 , 3 48 66,785 51,068 149,287 45,736 2 4 , 1 24 40,698 2 7 , 7 87 7 7 , 7 26 Total gold certificate reserves 20,998,074 1088,467 5,621,920 1215,556 1813,774 1231,607 8 5 5 , 1 63 3867,196 822,180 3 8 1 , 5 49 875,048 7 3 2 , 6 47 2 4 9 2 , 9 6? F.R. notes of other Banks 227,745 9,977 48,567 12,126 12,383 13,886 50,525 19,354 8,127 6 , 9 16 8,060 1 4 , 1 39 23,685 Other cash 348,805 25,240 57,990 1 7 , l 8l 39,073 17,432 33,425 61,692 19,801 9 , 7 35 1 2, 5 05 1 4 , 2 45 4 0 , 4 86 Discounts and advances 570,119 9,525 145,478 63,268 54,068 24,647 50,973 43,515 52,182 5 8 , 7 18 4 2 , 0 36 12,186 1 3 , 5 2: Industrial loans 379 296 83 Acceptances— Bought outright 12,389 1 2 , 3 89 U. S. Govt, securities: Bought outright- Bills 1 , 2 2 2 , 2 00 67,494 310,616 74,386 105,040 72,004 63,087 213,185 50,719 2 9 , 6 18 53,153 49,008 133,89c 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 1275,77% Bonds 2,801,750 154,724 712,051 170,520 240,791 165,062 144,621 488,701 116,267 67,895 121,848 112,344 306,926 Total 23,943,562 1322,259 6,085,137 1457,253 2057,782 1410,611 1235,919 4176,404 993,610 580,224 1041,305 960,089 2622,965 Held under repurchase agreement Total U. S. Government securities 23.943,562 1322,259 6,085,137 1457,253 2057,782 1410,611 1235,919 4l?6,404 993,610 580,224 1041,305 960,089 2622,96s Total loans and securities 24,526,449 1331,784 6,243,004 1520,817 2111,850 1435,258 1286,892 4219,919 1045,792 639,025 1083,341 972,275 2636,492 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 Z Uncollected cash items 4 , 6 4 3 , 5 23 3 4 0 , 9 11 9 0 3 7 0 21 2 6 7 , 3 51 4 4 1 , 5 31 352,851 3 2 9 , 1 48 7 2 2 , 4 19 207,655 123,021 2 4 2 , 2 01 2 4 9 , 3 46 464,o6f Bank premises 6,168 2,805 1,682 5 7 , 7 15 5 , 7 99 7 , 4 33 5 , 1 84 5 , 3 59 4 , 5 87 4 , 2 77 1 , 3 25 3 , 1 89 9 , 9 01 Other assets 1 6 0, 4 83 8 . 4 86 3 9 . 4 99 9 , 4 32 1 3 , 5 69 9 , 2 90 8, 7 46 2 8 , 9 41 6,825 3,861 6 , 9 00 7 , 7 37 1 7 , 1 91 TOTAL ASSETS 5 0 , 9 6 2 , 8 16 2810,665 1 2, 9 2 1 , 4 40 3 0 4 7 , 6 49 4 4 3 7 , 5 41 3 0 6 4 , 9 12 2568,177 8925,692 2113,186 1 1 6 5 , 4 33 2 2 3 1, 2 45 1992,072 5684,801 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 JULY 20, 1955 (In thousands of dollars) H,4.1(c) Total Boston New York Phila. Cleve, Rich, Atlanta Chicago St,Louis Mpls, Kans.Cy, Dallas SanFran, S T A B I L I T I ES 554,007 1032,596 712*853 2598,149 Federal Reserve notes 25*889*502 1595*044 5*832*733 1796,891 2393,18 81864*151 1302,149 5044,160 1163,581 Depositss Member bank-reserve accts ,18,809*901 776,956 5,607,121 864,288 1487,085 788,501 887,419 2910,188 675,821 433*417 903*417 965*325 2510,363 U.S.Treasurer-general acct. 564*133 39*421 58*308 35*356 59*943 32*939 24*845 154*560 32*377 26*781 29*827 27*144 42*632 Foreign 439*074 25*680 1/136*025 31*244 38*948 21,400 18,404 59*920 16*264 10,700 16*264 20,116 44*109 Other 414.923 933 335.613 10,101 6.954 2.947 1,731 2.072 8.539 1.742 5-136 1.038 37.915 Total deposits 20,228,031 842,990 6,137,067 941,191 1592,930 845,787 932,399 3126,740 733*001 472,640 954,644 1013,623 2635*019 Deferred avail, cash items 3,658,164 301,007 618,653 224*227 344,109 292,293 279,344 585*364 169*695 107*442 196*923 209*751 329*356 Other liabilities and accrued dividends 14.399 989 4.134 750 L.449 665 632 2.481 476 440 ^11 670 1.196 TOTAL LIABILITIES 49*790,096 2740,030 12,592,587 2963*05 94331,676 3002,896 2514,524 8758,745 2066,753 1134,529 2184*680 1936*897 5563*720 Capital paid in 296,029 15,725 89*042 19*498 28,125 13*380 13*258 39,332 10,342 6*706 11*638 15*573 33*410 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 2,140 Other capital accounts 188.247 11.590 44.422 12.830 16.512 11.807 10.153 29.620 8.951 6.207 9.035 8.310 18.810 TOTAL LIABILITIES AND 50,962,816 2810,665 12,921,44 03047*649 4437*541 3064,912 2568,177 8925,69 22113,186 1165,433 2231*245 1992*072 5684*804 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign correspondents 23*749 1,428 2/6,899 1*738 2*166 1*190 1*023 3,332 904 595 904 1,119 2,451 Industrial loan commitments 3*503 — 488 627 11 90 12 2,275 FEDERAL RESERVE AGENTS' ACCOUNTS F, R. notes outstanding 26,855,649 1643*702 6,026,384 1880,761 2494,740 1931,385 1362,001 5145,173 1208,465 593,350 1063,020 754*968 2751*70C Collateral for F, R, notes: Gold certificates 11,208.000 640,000 2,670,000 800,000 1050,000 675,000 500,000 2400,000 355,000 175,000 280,000 283,000 1380,00C Eligible paper 232 389 5*725 -- 58,645 ~ 21,480 — — 49,775 57,135 39,629 — U, S, Govt, securities 17.1075.50.5050.0000 11220000. 000 3.600.000 1200.000 1500.000 1300.000 1000.000 2900.00 0910,000 500,000 800,000 525,000 1620,,QQ£ Total collateral 28,495,389 1845,725 6,270,000 2058,645 2550,000 1996,480 1500,000 5300,000 1314,775 732,135 1x19,629 808,000 3000,00C 1/ After deducting #303,024,000 participations of other Federa lReserve Banks, 2/ After deducting $ 16,850,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis