H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4,1 OF THE FEDERAL RESERVE SYSTEM October 20, 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 October 19 increased $391 million to $19,119 million. The principal changes supplying reserves were an increase of $455 million in Reserve Bank credit and decreases of $20 million in Other deposits with Federal Reserve Banks and $11 million in Treasury cash holdings. The principal offsetting changes were increases of #69 million in Money in circulation and $20 million in Treasury deposits with Federal Reserve Banks. Estimated average excess reserves of member banks for the week increased $78 million to $635 million. „ ^ ^crease of $455 million in average Reserve Bank credit for the week Pi?uCiP ^y r°m ^"creases of $214 million in Float, $135 million in borrowings, and $124 million in U. S. Government securities bought ** S' "elArter S£§' is s SS EE Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending I Change from Week Ending and Related Items Oct. 19. 1955lOct^ 12., 19551 Oct. 20^ 1954 (in millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright—System account 23,916 +124 540 Held under repurchase agreement 105 - 14 74 Acceptances- Bought outright 18 + 18 Held under repurchase agreement 1 + 1 Loans, discounts, and advances- Member bank borrowings 1,028 + 929 Other 14 - 172 Float . 1.088 + 161 Total Reserve Bank credit 26,169 + 470 Gold stock 21,685 - 103 Treasury currency outstanding 5,9QZ 1 26 52,861 +456 + 401 Money in circulation 30,621 + 496 Treasury cash holdings 777 - 19 Treasury deposits with F. R. Banks 534 36 Foreign deposits with F. R. Banks 391 - 52 Other deposits with F, R, Banks 409 - 31 Other F. R, accounts (net) 1.010 + 60 33,742 + 65 + 418 Member bank reserve balances- 19.119 ±221 - 17 Required reserves (estimated) 18,484 +313 + 215 Excess reserves (estimated) 635 + 78 - 232 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 21,685 Treasury cash holdings 730 Treasury currency outstanding 5,008 Member bank) - Required (est.) i» cn» Money in circulation 30,542 reserves ) - Excess (est.) 455 011 October 19, 1955, U. S. Government securities held in custody by the Reserve Banks for foreign account were $3,479 million, an increase of n week and an increase of $416 million from the comparable date a y63.1T BgO e Digitized for FRASER 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 Oct. 19, Oct. 12, Oct. 20, 1955 1955 1954 A S S E TS . Gold certificates 20,163,350 . 1 63,751 Redemption fund for F. R. notes 836,802 + 1 7,281 • Total gold certificate reserves 21,000,152 71,032 - F. R. notes of other Banks 248,309 + 25,291 + 105,681 Other cash 344,274 + 12,024 + 16,980 Discounts and advances 803,247 - 78,841 + 472,752 Industrial loans 615 - 57 - 127 Acceptances: Bought outright 18,031 176 + 18,031 Held under repurchase agreement 411 -*• - U. S. Government securities: Bought outright-- Bills 1,251,746 + 100,100 483,254 Certificates 2,520,076 -- -4,079,715 Notes 17,399,536 +4,370,515 Bonds 2,801,750 290,800 - - - Total bought outright 23,973,108 + 100,100 - 483,254 Held under repurchase agreement 119,900 -- - «•*» Total U. S. Government securities 23,973,106 19,800 403,254 - - Total loans and securities 24,795,001 w 99,285 + 7,402 Due from foreign banks 22 — — -- Uncollected cash items 5,185,299 + 730,525 + 946,016 Bank premises 59,670 + 309 + 5,362 Other assets 150,541 + 8,553 - 8,500 TOTAL ASSETS 51,783,268 + 677,417 +1,001,909 L I A B I L I T I ES Federal Reserve notes 26,225,447 - 37,055 + 558,942 Deposits: Member bank—reserve accounts 18,963,345 4" 317,271 - 74,052 U. S. Treasurer--general account 575,218 + 72,775 - 26,136 Foreign 378,664 - 6,620 55,163 Other 380,247 - 282,186 + 5,973 Total deposits 20,297,474 + 101,240 - 149,378 Deferred availability cash items 4,040,942 + 606,032 + 535,117 Other liabilities and accrued dividends 19,269 375 + 792 • TOTAL LIABILITIES 50,583,132 + 669,842 + 945,473 C A P I T AL A C C O U N TS Capital paid in 298,622 + 255 + 21,943 Surplus (Section 7) 660,901 w "* + 35,888 Surplus (Section 13b) 27,543 — Other capital accounts 213,070 + 7,320 - 1,395 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,783,268 + 677,417 +1,001,909 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.1 $ - .1# - M Contingent liability on acceptances purchased for foreign correspondents 28,110 144 + 16,726 Industrial loan commitments 2,869 - 56 + 706 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 19. 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 798,146 SIT" 351,94b 57597 l6 days to 90 days 5,095 34 12,434 6,653,599 91 days to 1 year 6 392 12,952,065 Over 1 year to 5 years 105 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.stlTouoisfteadl. org/ 003,247 W 18,031 23,973,100 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 19, 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 20,163,350 980,793 5,323,554 1139,691 1823,682 1301,770 836,135 3535,657 876,031 336,709 801,174 701,741 2506,413 Redemption fund for F. R. notes 836,802 50,777 175,372 57,376 74,946 68,498 49,674 146,882 45,020 23,895 40,143 27,281 76,438 Total gold certificate reserves 21,000,152 1031,570 5,498,926 1197,567 1898,628 1370,268 885,809 3682,539 921,051 360,604 841,317 729,022 2582,851 F.R. notes of other Banks 248,309 21,361 56,327 20,967 9,584 13,681 36,748 24,274 9,257 6,678 8,517 14,893 26,022 Other cash 344,274 26,lol 77,408 17,034 36,377 17,283 25,781 52,775 17,010 7,738 11,374 11,970 43,363 Discounts and advances 803,247 19,000 86,043 51,228 55,713 24,527 58,601 264,667 23,307 64,383 81,973 41,782 32,023 Industrial loans 615 — • — • 553 — — -- 62 -- — — Acceptances-- Bought outright 1188,,003311 18,031 — -- — — — — — — - U. S. Govt, securities: Bought outright— Bills 1,251,746 69,126 318,125 76,184 107,579 73,745 64,612 218,338 51,945 30,334 54,438 50,193 137,127 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 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 23,973,108 1323,891 6,092,646 1459,051 2060,321 1412,352 1237,444 4181,557 994,836 580,940 1042,590 961,274 2626,206 Held under repurchase agreement; — — — — — — •» — -- — - - Total U. S. Government securities 23,973,108 1323,891 6,092,646 1459,051 2060,321 1412,352 1237,444 4l8l,557 994,836 580,940 1042,590 961,274 2626,206 Total loans and securities 24,795,001 1342,891 6,196,720 1510,832 2116,034 1436,879 1296,045 4446,224 1018,143 645,385 1124,563 1003,056 2658,229 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,185,299 450,154 979,081 292,37% 474,174 392,138 375,885 851,515 214,824 140,444 249,755 250,766 514,189 Bank premises 59,670 5,705 7,603 5,117 5,494 4,922 4,290 6,119 3,4l6 1,577 3,401 1,945 10,o8l other assets 150,541 8,026 36,941 8,799 12,837 8,714 8,294 27.403 5,959 3,663 6,315 7,442 16,148 TOTAL ASSETS 51,783,268 2885,869 12,853,012 3052,692 4553,130 3243,886 2632,853 9090,852 2189,661 1166,090 2245,243 2019,095 5850,885 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 19, 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 26,225,447 1586,864 5,890,660 1778,257 2437,134 1984,755 1342,094 5080,796 1200,475 536,105 1035,039 718,014 2635,254 Deposits: Member bank—reserve accts, 18,963,345 842,144 5,431,358 878,963 1523,691 810,981 872,880 3025,414 690,857 432,124 913,995 991,626 2549,312 U.S.Treasurer-general acct. 575,218 29,092 108,873 37,023 62,862 36,240 29,791 78,906 55,192 33,443 34,939 25,625 43,232 Foreign 378,664 22,140 1/117,387 26,937 33,579 18,450 15,867 51,660 14,022 9,225 14,022 17,343 38,032 Other 380.247 3.892 303.893 9 809 5.^97. 3.095 1.612 1.893 6.252 759 1.910 1.078 40.557 T Total deposits 20,297,474 897,268 5,961,511 952,732 1625,629 868,766 920,150 3157,873 766,323 475,551 964,866 1035,672 2671,133 Deferred avail, cash items 4,040,942 328,752 659,721 234,288 380,204 325,674 314,504 677,553 174,628 182,312 196,815 208,061 418,430 Other liabilities and accrued dividends 19.269 947 5,601 1,099, 1,957 916 962 2.977 684 584 m. 94s i,a%> TOTAL LIABILITIES 50,583,132 2813,831 12,517,493 2966,376 4444,924 3180,111 2577,710 8919,199 2142,110 1134,552 2197,461 1962,695 5726,670 Capital paid in 298,622 15,847 89,154 19,654 28,411 13,675 13,445 39,588 10,408 6,831 11,763 15,861 33,985 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 213 070 12.871 50,976 14.400 18.567 13.271 11.456 34.070 10.003 6.716 10.127 9.247 21.366 T TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,783,268 2885,869 12,853,012 3052,692 4553,130 3243,886 2632,853 9090,852 2189,661 1166,090 2245,243 2019,095 5850,885 Contingent liability on acceptances purchased for foreign correspondents 28,110 1,698 g/8,073 2,066 2,575 1,415 1,217 3,962 1,076 707 1,076 1,330 2,915 Industrial loan commitments 2,869 211 327 11 83 2,237 FEDERAL RESERVE AGENTS' ACCOUNTS F. R, notes outstanding 27,154,610 1639,264 6,077,759 1840,905 2537,929 2037,381 1400,806 5175,360 1267,235 578,902 1062,643 756,747 2779,679 Collateral for F,R. notes: Gold certificates 11,413,000 640,000 2,670,000 725,000 1070,000 795,000 500,000 2400,000 400,000 150,000 280,000 283,000 1500,000 Eligible paper 260,631 18,200 — 50,255 — 23,860 — — 22,800 64,050 81,466 — — 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 28,608,631 1858,200 6,270,000 1975,255 2570,000 2118,860 1500,000 5300,000 1332,800 714,050 1161,466 808,000 3000,000 l/ After deducting $261,252,000 participations of other Federal Reserve Banks. 2J After deducting #20,037,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis