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 28, 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 July 27 increased $171 million to $18,945 million. The principal changes supplying reserves were decreases of $130 million in Money in circulation, $21 million in Foreign deposits with Federal Reserve Banks, and $12 million in Other deposits with Federal Reserve Banks, and an increase of $74 million in Reserve Bank credit, The principal offsetting change was an increase of $64 million in Treasury deposits with Federal Reserve Banks, Estimated average excess reserves of member banks for the week increased $12 million to $597 million. The increase of $74 million in average Reserve Bank credit for the week resulted principally from increases of $105 million in U, S. Government securities held under repurchase agreement, $93 million in Member bank borrowings, and $92 million in U, S. Government securities bought outright, and decreases of $203 million in Float and $11 million in Other loans, discounts, and advances. As of Wednesday, July 27, holdings of U, S, Government securities bought outright were $95 million higher than a week earlier, U, S, Government securities held under repurchase agreement were $108 million higher, and Member bank borrowings were $2 million higher. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending _and Related Items July 27. 1955 July 20. 19551 July 28. 1954 (in millions of dollars) Reserve Bank credit: U, S. Government securities:— Bought outright—System account 24,035 + 92 - 482 Held under repurchase agreement 105 +105 + 105 Acceptances—Bought outright 11 - 3 + 11 Loans, discounts, and advances— Member bank borrowings 395 + 93 + 310 Other 44 - 11 40 Float 915 -203 + 325 Total Reserve Bank credit 25,506 + 74 + 229 Gold stock 21,681 + 1 - 243 Treasury currency outstanding 5.002 - 1 + 43 52,189 + 74 + 29 Money in circulation 30,157 -130 + 342 Treasury cash holdings 798 + 5 8 - Treasury deposits with F. R. Banks 480 + 64 - 71 Foreign deposits with F. R, Banks 439 - 21 130 Other deposits with F. R. Banks 403 - 12 - 17 Other F. R. accounts (net) 967 - 3 + L 33,244 - 97 + 120 Member bank reserve balances— 18.945 +171 91 Required reserves (estimated) 18,348 +159 + 1 Excess reserves (estimated) 597 + 12 - 92 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for o-,her items appearing above are, in millions of dollars: Gold stock 21,681 Treasury cash holdings 303 Treasury currency outstanding 5,003 Member bank) - Required (est.) 18,342 Money in circulation 30,120 reserves ) - Excess (est,) 577 On July 27, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,247 million, a decrease of $35 million for the week and an increase of $240 million from the comparable date a Digyiteizeadr f ora FgRoA.S ER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 27, July 20, July 2b, 1%% 1955 1954 A S S E TS Gold certificates 20,161,103 + 2 - 206,001 Redemption fund for F. R. notes 833,136 - 3,837 - 19,590 Total gold certificate reserves 20,994,239 - 3,835 - 225,591 F. R. notes of other Banks 234,584 + 6,839 + 103,399 Other cash 365,421 + 16,616 - 28,133 Discounts and advances 549,317 • 20,802 + 329,185 Industrial loans 361 - 18 - 638 Acceptances—Bought outright 10,338 - 2,0$1 + 10,338 U. S. Government securities: Bought outright- Bills 1,316,700 94,500 - 479,225 Certificates 8,273,775 +1,673,984 Notes 11,645,837 -1,383,184 - 290,800 Bonds Total bought outright 24;03B$2 + 94,500 - 479,225 108,000 + 108,000 + 108,000 Held under repurchase agreement Total U. S. Government securities 24,146,062 + 202,500 - 371,225 Total loans and securities 24,706,078 + 179,629 - 32,340 Due from foreign banks 22 Uncollected cash items 3,975,742 - 667,781 + 528,674 Bank premises 57,678 37 + 3,975 Other assets 168,036 + ,7,553 + 44,208 TOTAL ASSETS 50,501,800 - 461,016 + 394,192 L I A B I L I T I ES Federal Reserve notes 25,832,939 - 56,563 + 366,966 Deposits: Member bank--reserve accounts 18,919,057 + 109,156 - 217,263 U. S. Treasurer—general account 457,833 106,300 - 90,291 Foreign 442,887 + 3,813 - 106,004 Other 391,091 - 23,832 6,488 Total deposits 20,210,868 - 17,163 - 420,046 Deferred availability cash items 3,265,261 - 392,903 + 342,705 Other liabilities and accrued dividends 14,804 + 405 305 TOTAL LIABILITIES 49,323,872 466,224 + 289,320 C A P I T AL A C C O U N TS Cap ital pai din 296,285 256 + 22,622 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 193,199 + 4,952 + 46,362 • TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,501,800 - 461,016 + 394,192 Ratio of gold certificate reserves to deposit ajnd F. R. note liabilities combined 45.6* •1% Contingent liability on acceptances purchased for foreign correspondents 23,002 747 + 14,440 Industrial loan commitments • 3>5i8 15 + 1.038 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 27, 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 503,839 — %T 4,847 463,300 16 days to 90 days 45,432 90 5,491 6,715,099 91 days to 1 year 46 78 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 l , \ lW Digitized for FRATSoEtRa l 549,317 ~W 10,338 24,146,062 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 27, 1955 (In thousands of dollars) H.4.1(b) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls. Kans.Cy. Dallas SanFran. Gold certificates 20,161,103 1037,973 5,4ll,5l6 1178,476 1748,984 1153,033 789,505 3736,568 802,091 363,837 824,190 724,585 2390,345 Redemption fund for F. R. notes 833,136 52,164 170,363 56,552 73,063 65.398 50,909 149,020 45,652 24,100 40,636 27,722 77,557 Total gold certificate reserves " 20,994,239 1090,137 5,581,879 1235,028 1822,047 1218,431 840,414 3885,588 847,743 387,937 864,826 752,307 2467,902 F.R. notes of other Banks 234,584 13,312 45,444 9,440 9,497 15,391 52,711 15,938 8,295 11,652 10,441 16,218 26,245 Other cash 365,421 26,198 63,322 20,860 42,570 18,713 31,4l8 63,102 20,065 8,701 12,839 14,382 43,251 Discounts and advances 549,317 12,685 113,785 53,020 40,775 36,380 47,520 110,016 26,395 46,840 32,024 14,257 15,620 Industrial loans 361 -- -- 278 — -- — — — 83 Acceptances— Bought outright 10,338 — 10,338 U. S. Govt, securities: Bought outright— Bills 1,316,700 72,713 334,632 80,138 113,161 77,571 67,965 229,668 54,641 31,908 57,263 52,797 144,24: 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* JDVX1U.O C,VV-L, tJV J-JT, | | j-t- f JL J- I V » C.-TW, I 7 A. u-vy f -L-r-r , Vt-J- tw j |va Total 24,038,062 1327,478 6,109,153 1463,005 2065,903 1416,178 1240,797 4192,887 997,532 582,514 1045,415 963,878 2633,322 Held under repurchase agreement 108,000 108* 000 —— - Total U. S. Government securities 24,146,062 1327,478 6,217,153 1463,005 2065,903 1416,178 1240,797 4192,88? 997,532 582,514 1045,415 963,878 2633,322 Total loans and securities 24,706,078 1340,163 6,341,276 1516,303 2106,678 1452,558 1288,317 4302,903 1023,927 629,437 1077,439 978,135 2648,942 Due from foreign banks 22 l l /6 2 2 1 1 3 1 1 1 1 < Uncollected cash items 3,975,742 298,585 743,030 225,060 382,977 305,523 280,674 640,323 160,333 110,856 200,863 214,151 413,361 Bank premises 57,678 5,767 7,433 5,l6l 5,367 4,568 4,266 6,162 2,797 1,322 3,211 1,682 9,942 Other assets 168.036 8,790 42,001 9.759 14,254 9,784 9.049 30,314 7.062 4,015 7,150 7,942 17,91* TOTAL ASSETS 50,501,800 2782,953 12,824,391 3021,613 4383,392 3024,969 2506,850 8944,333 2070,223 1153,921 2176,770 1984,818 5627,561 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 27, 1955 1.4.1(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 25,632,939 1589,755 5,831,721 1788,800 2389,094 1860,494 1296,389 5039,220 1162,029 552,103 1029,933 711,632 2581,769 Deposits: Member bank-reserve accts. 18,919,057 790,126 5,616,514 873,071 1474,351 783,209 869,043 3082,388 672,410 436,039 866,962 988,257 2466,687 U»S.Treasurer-general acct, 457,833 36,190 56,466 27,060 37,370 30,012 30,468 55,938 31,887 23,830 45,789 30,149 52,674 Foreign 442,887 25,800 1/138,422 31,390 39,130 21,500 18,490 60,200 16,340 10,750 16,340 20,210 44,315 Other 1.244 1.809 Total deposits 20,210,868 853,825 6,132,647 941,895 1556,024 837,029 919,245 3200,335 727,599 471,886 931,946 1039,648 2598,789 Deferred avail, cash items 3,265,261 267,609 525,764 205,378 330,410 264,391 236,592 534,463 133,412 98,393 167,503 177,365 323,981 Other liabilities and accrued dividends 14.804 934 4.045 , 1,555 763 727 2.360 567 499 611 719 1.381 TOTAL LIABILITIES 49,323,872 2712,123 12,494,177 2936,716 4277,083 2962,677 2452,953 8776,378 2023,607 1122,881 2129,993 1929,364 5505,920 Capital paid in 296,285 15,725 89,065 19,499 28,128 13,386 13,258 39,421 10,344 6,715 11,641 15,671 33,432 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 193.199 11.785 45.760 13.136 16.953 12.077 10.397 30.539 9.132 6.334 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,501,800 2782,953 12,824,391 3021,613 4383,392 3024,969 2506,850 8944,333 2070,223 1153,921 2176,770 1984,818 5627,567 Contingent liability on acceptances purchased for foreign correspondents 23,002 1,380 2/6,718 1,679 2,093 1,150 989 3,220 874 575 874 1,081 2,369 Industrial loan commitments 3,518 — 506 627 11 87 12 — — 2,275 — — FEDERAL RESERVE AGENTS* ACCOUNTS F, R, notes outstanding 26,827,532 1639,799 6,021,982 1873,072 2501,241 1927,321 1359,475 5131,594 1223,566 591,721 1064,938 754,526 2738,297 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 1380,000 Eligible paper 195,984 10,285 — 50,100 — 34,380 —— — 24,875 45,840 30,504 — — 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 28,458,984 1850,285 6,270,000 2050,100 2550,000 2009,380 1500,000 5300,000 1289,875 720,840 1110,504 808,000 3000,000 \f After deducting $304,440,000 participations of other Federal Reserve Banks. 2/ After deducting $ 16,284,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis