H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF,. GOVERNOR SFor Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 8, 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 September 7 increased $71 million to $18,685 million. The principal changes supplying reserves were an increase of $184 million in Reserve Bank credit and decreases of $32 million in Treasury deposits with Federal Reserve Banks and $20 million in Foreign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $168 million in Money in circulation. Estimated average excess reserves of member banks for the week increased $101 million to $599 million. The increase of $184 million in average Reserve Bank credit for the week resulted principally from increases of $98 million in Member bank borrowings, $65 million in U, S, Government securities held under repurchase agreement, and $16 million in Float. As oX Wednesday, September 7, holdings of U. S. Government securities bought outright and those held under repurchase agreement were unchanged from a week earlier, while Member bank borrowings were $128 million higher. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending I Change from Week Ending and Related Items Sept. 7. 19551 Aug. 31. 19551 Sept. 8. 1954 (in millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,761 216 Held under repurchase agreement 65 + 65 + 29 Acceptances — Bought outright 15 WW + 15 Held under repurchase agreement 8 + 8 + 8 Loans, discounts, and advances— Member bank borrowings 838 + 98 + 781 Other 27 - 4 - 64 Float 687 + 16 + 89 Total Reserve Bank credit 25,401 +184 + 642 Gold stock 21,682 + 1 - 127 Treasury currency outstanding 5.005 + 40 52,088 +184 + 555 Money in circulation 30,436 +168 + 390 Treasury cash holdings 806 + 3 + 4 Treasury deposits with F. R. Banks 447 - 32 32 Foreign deposits with F. R, Banks 379 - 20 139 Other deposits with F. R. Banks 393 ~ 1 - 35 Other F. R, accounts (net) 943 - 3 + ...29 33,403 +113 + 207 Member bank reserve balances- 18.685 + 71 + 349 Required reserves (estimated) 18,086 - 30 + 530 Excess reserves (estimated) 599 +101 181 - For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,682 Treasury cash holdings 810 Treasury currency outstanding 5,005 Member bank) - Required (est.) 18,063 Money in circulation 30,536 reserves ) - Excess (est.) On September 7, 195$, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,376 million, an increase of Digitized for FRASER $3 million for the week and an increase of $419 million from the comparable date a http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 7, Aug. 31, Sept. 8, 1955 1954 A S S E TS Gold certificates 20,145,355 + 3 141,748 Redemption fund for F. R. notes 847,549 + 10,498 -- Total gold certificate reserves 20,992,904 + 3 - 131,250 F. R. notes of other Banks 204,879 9,358 + 95,505 Other cash 330,538 31,653 + 2,540 ~ Discounts and advances 597,510 127,505 + 443,631 Industrial loans 562 23 207 - - Acceptances--Bought outright l6,4o8 + 1,990 16,408 U. S. Government securities: Bought outright— Bills 1,039,046 __ 284,10L Certificates 2,520,076 -4,079,715. —— Notes 17,399,536 - - +4, 370,515 Bonds 2,801,750 290,800 -- - Total "bought outright 23,760,408 284,104 Held under repurchase agreement Total U. S. Government securities 23,760,408 284,104 —— - Total loans and securities 24,374,888 + 129,472 + 175,728 Due from foreign banks 22 —— Uncollected cash items 3,599,964 - 238,855 + 361,710 Bank premises 58,668 + 652 + 5,283 Other assets 176,220 + 8,126 + 27,734 TOTAL ASSETS 49,738,083 141,613 + 537,250 L I A B I L I T I ES Federal Reserve notes 26,186,615 + 182,918 + 477,736 Deposits: Member bank--reserve accounts 18,206,568 161,107 67,841 - - U. S. Treasurer--general account 475,237 81,742 29,01b Foreign 377,168 10,021 - 146,55! Other 37^,319 8,938 - 16,34= Total deposits 19,433,292 98,325 - 201,719 Deferred availability cash items 2,941,005 232,638 + 208,615 Other liabilities and accrued dividends 15,108 258 316 TOTAL LIABILITIES 48,576,020 - 147,755 + 484,31% C A P I T AL A C C O U N TS Capital paid in 296,996 124 + 21,930 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 176,623 + 6,049 4,882 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,7381553 - 141,613 + 537,250 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46. ( Contingent liability on acceptances purchased for foreign correspondents 27,222 36 + 21,945 Industrial loan commitments 3>4e$»n 12 + 1,044 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 7, 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 579,115 15 4,756 238,750 " 16 days to 90 days 18,395 87 11,652 800,296 91 days to 1 year 342 — 18,205,764 Over 1 year to 5 years 118 — 2,087,127 Over 5 years to 10 years 1,013,614 Over 10 years — - 1.414.857 Digitized for FRATSoEtRa l 597,510 562 16,408 23,760,408 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 7, 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 20,145,355 I004,i4i 5,125,388 1174,470 1792,680 1247,941 844,330 3699,584 827,105 361,027 811,033 713,180 2544,476 Redemption fund for F. R. notes 847,549 51,510 178,074 59,149 74,079 72,052 50,344 148,032 45,363 24,007 40,407 27,514 77,018 Total gold certificate reserves 20,992,904 1055,651 5,303,462 1233,619 1866,759 1319,993 894,674 3847,616 872,468 385,034 851,440 740,694 2621,494 F.R. notes of other Banks 204,879 13,898 39,351 9,869 6,625 12,707 43,553 19,6l4 6,973 9,034 9,670 9,482 24,103 Other cash 330,538 25,566 65,641 17,337 40,078 19,188 27,166 52,835 17,385 7,404 10,720 11,870 35,348 Discounts and advances 597,510 36,600 89,447 23,824 29,967 46,893 57,837 141,053 14,263 42,093 52,423 24,372 38,738 Industrial loans 562 — — ~ 496 • — ~— —— — — —— 66 — — — ~ —— Acceptances-- Bought outx*lght 16,408 — — 16y ^4-08 — — — — — — —— —— — — — — — — —— — — U. S. Govt, securities: Bought outright-- Bills 1,039,046 57,380 264,068 63,239 89,299 61,213 53,633 181,238 43,118 25,180 45,188 4i,664 113,826 Certificates 2,520,076 139,169 640,465 153,376 216,583 148,469 130,082 439,569 104,578 61,068 109,598 101,050 276,069 Notes 17,399,536 960,872 4,422,005 1058,971 1495,368 1025,076 898,129 3034,949 722,046 421,643 756,706 697,687 1906,084 £- jUUi ,f y V J-J -jr 1 I t ± - C. t f \J J -L -L f V J j ( 71 J VUC- X*T*f «, KJC. 1,. |W1 u f lie., jtt jw , ycjo Total 23,760,408 1312,145 6,038,589 1446,106 2042,041 1399,820 1226,465 4l44,457 986,009 575,786 1033,340 952,745 2602,905 Held under repurchase agreement Total U. S. Government securities 23,760,408 1312,145 6,038,589 1446,106 2042,041 1399,820 1226,465 4144,457 986,009 575,786 1033,340 952,745 2602,905 Total loans and securities 24,374,888 1348,745 6,144,444 1470,426 2072,008 1446,713 1284,302 4285,510 1000,272 617,945 1085,763 977,117 2641,643 Due from foreign banks 22 l l/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 3,599,964 307,955 711,554 226,093 312,590 303,785 259,258 535,727 155,049 104,757 184,598 178,738 319,860 Bank premises 58,668 5,735 7,462 5,139 5,389 4,66o 4,266 6,129 3,423 1,403 3,288 1,782 9,992 Other assets 176,220 9,425 42,858 10,498 15,403 10,349 9,650 32,103 7,085 4,156 7,542 8,312 18,839 TOTAL ASSETS 49,738,083 2766,976 12,314,778 2972,983 4318,854 3117,396 2522,870 8779,537 2062,656 1129,734 2153,022 1927,996 5671,281 Digitized for FRASER l/ After deducting $l6,000 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 SEPTEMBER 7, 1955 H,4el'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 26,186,615 1581,856 5,896,759 1780,390 2425,964 1932,451 1320,566 5085,653 1183,703 544,181 1043,289 719,579 2672,22/ Deposits: Member bank-reserve accts. 18,206,568 794,552 5,068,255 844,068 1446,056 805,190 878,525 2993,208 654,529 429,829 865,050 941,858 2485,44* U.S.Treasurer-general acct. 475,237 31,105 57,307 32,865 45,160 37,606 30,450 64,573 25,678 22,638 30,689 42,321 54,84! Foreign 377,168 22,080 1/116,599 26,864 33,488 18,400 15,824 51,520 13,984 9,200 13,984 17,296 37,92< Other 974.319 2.439 299.189 9.812 7.707 3.833 1.215 2.171 8.295 649 946 1.186 Total deposits 19,433,292 850,176 5,541,350 913,609 1532,411 865,029 926,014 3111,472 702,486 462,316 910,669 1002,661 2615,09< Deferred avail, cash items 2,941,005 263,793 547,120 194,149 253,517 257,636 222,240 415,450 129,667 92,203 152,427 150,246 262,55' Other liabilities and accrued dividends 15.108 995 4.090 775 1.829 755 744 2.394 552 492 550 593 1.33' TOTAL LIABILITIES 48,576,020 2696,820 11,989,319 2888,923 4213,721 3055,871 2469,564 8614,969 2016,408 1099,192 2106,935 1873,079 5551,21< Capital paid in 296,996 15,790 88,917 19,570 28,309 13,408 13,326 39,512 10,394 6,740 11,653 15,704 33,67: 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 66,72i 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 176.623 11.046 41.153 12.228 15.596 11.288 9.738 27.061 8.714 5.811 8.542 7.921 17.52' TOTAL LIABILITIES AND CAPITAL ACCOUNTS 49,738,083 2766,976 12,314,778 2972,983 4318,854 3117,396 2522,870 8779,537 2062,656 1129,734 2153,022 1927,996 5671,28: Contingent liability on acceptances purchased for foreign correspondents 27,222 1,632 2/7,965 1,985 2,475 1,360 1,170 3,808 1,034 680 1,034 1,278 2,80: Industrial loan commitments 3,40^ — — 277 787 11 85 —^ — — 2,245 — — i ' FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,013,363 1628,791 6,070,847 1854,206 2519,173 1975,768 1372,038 5169,393 1233,759 585,206 1071,808 761,592 2770,78: Collateral for F.R. notes: Gold certificates 11,173,000 640,000 2,670,000 725,000 1050,000 695,000 500,000 2400,000 375,000 175,000 280,000 283,000 1380,00C Eligible paper 208,523 35,000 — 21,877 — 45,560 — — 13,250 41,426 51,410 — — U. S. Govt, securities 17.055.000 12.00.000 3.600.000 1200.000 1500.000 1300.000 1000.000 2900.00 0910.000 500.000 800.000 525.000 l620.00( Total collateral 28,436,523 1875,000 6,270,0001.946,877 2550,000 2040,560 1500,000 5300,000 1298,250 716,426 1131,410 808,000 3000,00C l/ After deducting $260,544,000 participations of other Federal Reserve Banks, 2/ After deducting $19,257,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis