H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 15, 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 14 increased $65 million to $18,750 million. The principal changes supplying reserves were an increase of $176 million in Reserve Bank credit and a decrease of $17 million in Treasury deposits with Federal. Reserve Banks. The principal offsetting changes were increases of $84 million in Money in circulation and $40 million in Foreign deposits with Federal Reserve Banks. Estimated average excess reserves of member banks for the week increased $43 million to $642 million. The increase of $176 million in average Reserve Bank credit for the week resulted principally from increases of $139 million in Float and $53 million in Member bank borrowings, and a decrease of $17 million in U. S. Government securities bought outright. As of Wednesday, September 14, holdings of U. S, Government securities bought outright were $88 million lower than a week earlier and Member bank borrowings were $62 million lower> Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending and Related Items Sept. 14, 1955 Sept. y, 19551 Sept. 15, 1954 (in millions of dollars) Reserve Bank credit: U. S, Government securities— Bought outright—System account 23,744 - 17 -' 291 Held under repurchase agreement 69 + 4 + 69 Acceptances— Bought outright 17 + 2 + 17 Held under repurchase agreement 3 - 5 + 3 Loans, discounts, and advances- Member bank borrowings 891 + 53 + 807 Other 27 — - 79 Float 826 +139 + 112 Total Reserve Bank credit 25,577 +176 + 638 Gold stock 21,682 - .127 Treasury currency outstanding 5.006 + 1 + 39 52,265 +177 + 551 Money in circulation 30,520 + 84 + 447 Treasury cash holdings 803 , - 3 + 8 Treasury deposits with F. R. Banks 43GT - 17 128 - Foreign deposits with F. R, Banks 419 + 40 140 - Other deposits with F, R. Banks 400 + 7 32 - Other F, R. accounts (net) 942 - 1 + 17 33,515 +112 + 173 Member bank reserve balances— 18.750 + 65 + 377 Required reserves (estimated 18,108 + 22 + 514 Excess reserves (estimated) 642 + 43 137 - 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 805 Treasury currency outstanding 5,005 Member bank) - Required (est.) 18,148 Money in circulation 30,452 reserves ) - Excess (est,) 304 On September 14, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,356 million, a decrease of $20 million for the week and an increase of $374 million from the comparable date Digitized for FRASER http:a//f rayseera.srtlo uaisgfeod..or g/ 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 Sept. 14, Sept. 7, Sept. 15, 1955 1955 1954 A S S E TS Gold certificates 20,145,353 - 2 - 131,747 Redemption fund for F. R. notes 845,051 2,498 22,,000011 - • Total gold certificate reserves 20,990,404 - 2,500 - 113333,,774488 F. R. notes of other Banks 259,416 + 54,537 + 118,336 Other cash 351,031 + 20,493 + 4,993 Discounts and advances 535,686 - 61,824 + 337,677 Industrial loans 722 + 160 - 251 Acceptances--Bought outright 17,292 + 884 + 17,292 U. S. Government securities: Bought outright-- Bills 950,846 88,200 - 315,304 Certificates 2,520,076 -4,079,715 Notes 17,399,536 +4,370,515 Bonds 2,801,750 - 290,800 Total bought outright 23,672,206 68,200 - 315,304 Held under repurchase agreement Total U. S. Government securities 23,672,205 88,200 - 315,304 Total loans and securities 24,225,908 - 148,980 + 39,414 Due from foreign banks rx . . 22 Uncollected cash items * 5,197/549 +1,597,585 + 419,735 Bank premises 58,915 + 247 + 5,515 Other assets 184,378 + 8,158 + 40,645 TOTAL ASSETS 51,267,623 +1,529^0 + 494,890 L I A B I L I T I ES Federal Reserve notes 26,170,231 - 16,384 + 540,130 Deposits: Member bank—reserve accounts 18,452, l j g yf + 245,604 - 189,717 U. S. Treasurer—general account 427, #8 - 47,949 - 82,278 Foreign 410,459 + 33,291 - 95,712 Other 381,677 + 7,358 - 27,216 Total deposits 19/71,12^1 + 238,304 - 394,923 Deferred availability cash items 4,241,538 +1,300,533 + 297,598 Other liabilities and accrued dividends 16,103 + 995 - 1,025 TOTAL LIABILITIES 50,099,^68. +1,523,445 + 441,780 C A P I T AL A C C O U N TS Capital paid in 297,211 + 215 + 21,583 Surplus (Section 7) 660,901 + 35,888 Surplus (Section IJb) 27,543 Other capital accounts 182,500 + 5,877 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,267,^23 +1,529,540 - + f 49 r 4 f , f 8 l 9 0 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8# .2$ Contingent liability on acceptances purchased for foreign correspondents 27,221 1 + 21,636 Industrial loan commitments 2,797 620* + 641 ^September 7 figure revised MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 14, 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 516,651 15 57^9— 444,950 16 days to 90 days 19,026 90 12,623 505,896 91 days to 1 year 9 499 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 FRASER Total 535,686 722 17,292 23,672,208 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 14, 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 20,145,353 970,302 5,079,398 1198,631 1820,910 1242,331 872,032 3727,231 828,687 347,407 810,732 705,242 2542,45c Redemption fund for F. R. notes 845,051 51,362 177,574 58,868 73,853 71,368 50,215 147,800 45,297 23,985 40,355 27,466 76,906 Total gold certificate reserves 20,990,404 1021,664 5,256,972 1257,499 1894,763 1313,699 922,247 3875,031 873,984 371,392 851,087 732,708 2619,356 F.R. notes of other Banks 259,4l6 16,031 52,551 20,654 9,800 16,905 42,170 21,180 9,079 9,372 12,755 12,827 36,092 other cash 351,031 26,286 70,656 18,136 36,637 21,187 28,l4o 56,241 17,863 7,808 11,293 11,357 45,427 Discounts and advances 535,686 13,000 81,207 26,447 35,782 15,788 38,764 146,013 18,063 74,947 35,840 37,388 12,447 Industrial loans 722 — — 656 — — -- — — 66 Acceptances— Bought outright 17,292 — 17,292 U. S. Govt, securities: Bought outright— Bills 950,846 52,509 241,652 57,871 81,719 56,018 49,080 165,853 39,458 23,043 41,352 38,127 104,164 Certificates 2,520,076 139,169 640,465 153,376 216,583 148,469 130,082 439,569 104,578 61,068 109,598 101,050 276,065 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 1906,0% 9 f yv 1 f JL J V, , WcJL H-UO ( UJL HO, £Of O J y Ojp iul y OHOll dj JT4 jUOj7tC X. jG\ JCS+\J9 ( yJL X\JJ 9 Total 23,672,208 1307,274 6,016,173 1440,738 2034,461 1394,625 1221,912 4129,072 982,349 573,649 1029,504 949,208 2593,243 Held under repurchase agreement Total U. S. Government securities 23,672,208 1307,274 6,016,173 1440,738 2034,461 1394,625 1221,912 4129,072 982,349 573,649 1029,504 949,208 2593,243 Total loans and securities 24,225,908 1320,274 6,114,672 1467,841 2070,243 1410,413 1260,676 4275,085 1000,412 648,662 1065,344 986,596 2605,69c 1 Due from foreign banks N 22 1 1/ 6 2 2 1 1 3 11 1 1 M2 Uncollected cash items 5,197,549 377,353 9^3,804 290,793 472,748 422,228 376,854 823,052 217,858 150,403 314,366 293,092 514*998 Bank premises 58,915 5,737 7,462 5,139 5,379 4,780 4,266 6,129 3,423 1,474 3,288 1,846 9,992 Other assets 184,378 9,920 45,210 10,830 15,718 10,867 10.103 33,616 7,368 4,367 7,918 8,700 19,761 TOTAL ASSETS 5 1 , 2 6 7 / 23 2777,266 12,491,333 3070,894 4505,290 3200,080 2644,457 9090,337 2129,988 1193,479 2266,052 2047,127 5851,320 5 Digitized for FRASER 1/ After deducting $ 16,OOOparticipations 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 14, 1955 H.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 26,170,231 1578,345 5,881,867 1782,577 2433,054 1941,837 1324,579 5082,609 1184,412 541,038 1041,149 719,667 2659,09*5 Deposits: A U. Member bank-reserve accts. 18,452/172 758,565 5,095,090 884,685 1491,749 790,035 884,573 3051,668 670,155 444,882 860,786 976,124 2543i860 U.S. Treasurer^-general acct, 427 >88 34,473 69,021 33,560 42,011 27,780 37,257 55,801 28,599 30,925 28,049 19,408 20X04 Foreign 410,459 23,520 1/132,898 28,616 35,672 19,600 16,856 54,880 14,896 9,800 14,896 18,424 40,401 Other 381.677 2.873 304.811 9.812 4.802 3.604 4.329 1.757 7.634 651 1.146 1.352 38.906 4 Total deposits 19,671,696 819,431 5,601,820 956,673 1574,234 841,019 943,015 3164,106 721,284 486,258 904,877 1015,308 2643,571 Deferred avail, cash items 4,241,538 307,861 675,689 246,421 390,964 354,547 322,593 675,375 177,206 134,982 273,094 256,298 426,508 Other liabilities and accrued dividends 16.103 1.085 4.720 799 1.403 840 678 2.568 620 506 599 715 1.57C Vs TOTAL LIABILITIES 50,099,\68 2706,722 12,164,096 2986,470 4399,655 3138,243 2590,865 8924,658 2083,522 1162,784 2219,719 1991,988 5730,1*46 Capital paid in 297,211 15,797 89,081 19,573 28,318 13,414 13,338 39,513 10,398 6,750 11,653 15,705 33,671 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 182.500 11.427 42.767 12.589 16.089 11.594 10.012 28.171 8.928 5.954 8.788 8.142 18.039 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,267, |> 23 2777,21626, 491,333 3070,894 4505,290 3200,080 2644,457 9090,337 2129,988 1193,479 2266,052 2047,127 5851,^20 Contingent liability on % 5 acceptances purchased for foreign correspondents 27,221 1,632 2/7,964 1,986 2,475 1,360 1,170 3,808 1,033 680 1,033 1,278 2,802 Industrial loan commitments 2,797 118 327 11 85 11 2,245 FEDERAL RESERVE AGENTS* ACCOUNTS F. R, notes outstanding 27,099,495(1639,829 6,085,812 1846,850 2525,160 1996,708 1384,699 5171,687 1235,044 584,823 1C69,805 764,553 2794,525 Collateral for F.R. notes: Gold certificates 11,363,000) 640,000 2,670,000 725,000 1070,000 745,000 500,000 2400,000 375,000 175,000 (280,000 283,000 1500,000 Eligible paper 11,400 24,500 — 14,455 — — 17,050 74,134 ^54,627- U. S. Govt, securities 16.935.000 1200.000 3.600.000 1200.000 1500.000 1300.000 1000.000 2900.000 910.000 500.000 800.000 525.000 1500.000 Total collateral. 28,494^-66 1851,400 6,270,000 1949,500 2570,000 2059,455 1500,000 5300,000 1302,050 749,134 1134*427 808,000 3000,000 tlis 1/ After deducting $277,536,000 participations of other Federal Reserve Banks, 2/ After deducting $19,257,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis