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 27, 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 26 decreased $228 million to $18,891 million. The principal change reducing reserves was a decrease of $422 million in Reserve Bank credit. The principal offsetting changes were decreases of $123 million in Money in circulation, §38 million in Treasury deposits with Federal Reserve Banks, $22 million in Other deposits with Federal Reserve Banks, and $10 million in Foreign deposits with Federal Reserve Banks, Estimated average excess reserves of member banks for the week decreased $180 million to $458 million. The decrease of $422 million in average Reserve Bank credit for the week resulted principally from decreases of $267 million in Member bank borrowings, $105 million in U, S, Government securities held under repurchase agreement, and $103 million in Float, and an increase of $57 million in U. S, Government securities bought outright. As of Wednesday, October 26, 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 $236 million higher. Member Bank Reserves, Weekly Averages of Daily Figures Reserve Bank Credit, Week Ending Change from Week Ending and Related Items Oct. 26, 19551 Oct. 19, 1955l0ct. 27. 1954 (in millions of dollars) Reserve Bank credit; U, S, Government securities— Bought outright—System account 23,973 + 57 - 408 Held under repurchase agreement — -105 — Acceptances- Bought outright 18 4 18 ****** Held under repurchase agreement — - 1 — Loans, discounts, and advances- Member bank borrowings 761 -267 + 689 Other 10 - 4 175 Float 985 =m + 264 Total Reserve Bank credit 25,747 -422 + 387 Gold stock 21,685 — - 74 Treasury currency outstanding 5,009 + 2 + 36 52,441 -420 + 349 Money in circulation 30,498 -123 + 470 Treasury cash holdings 778 + 1 - 23 Treasury deposits with F, R. Banks 496 - 38 - 71 Foreign deposits with F, R, Banks 381 - 10 - 61 Other deposits with F, R, Banks 387 - 22 - 24 Other F. R, accounts (net) 1,010 — + 61 33,550 -192 + 352 Member bank reserve balances- 18.891 -228 & z Required reserves (estimated) 18,433 - 48 + 209 Excess reserves (estimated) 458 -180 - 213 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 '777 Treasury currency outstanding 5,009 Member bank) - Required (est,) 18,433 Money in circulation 30,441 reserves ) - Excess (est.) 502 On October, 26, 1955, U, S, Government securities held in custody by the Federal Reserve Banks for foreign account were $3,482 million, an increase of $3 million for the week and an increase of $439 million from the comparable date a year ago. 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. 26, Oct. 19, Oct. 27, 1955 1955 1954 A S S E TS Gold certificates 20,173,353 + 10,003 - 51,749 Redemption fund for F. R, notes 833,340 - 3,462 • 10,597 Total gold certificate reserves 21,006,693 + 6,541 62,346 • F. R. notes of other Banks 277,842 + 29,533 + 117,394 Other cash 352,461 + 8,187 + 23,013 Discounts and advances 1,026,400 + 223,153 + 721,187 Industrial loans 66l + 46 136 • Acceptances--Bought outright 17,157 - 874 + 17,157 U. S. Government securities: Bought outright— Bills 1,251,746 - 408,254 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 - 408,254 Held under repurchase agreement Total U. S. Government securities 23,973,108 - 408,254 mmrn Total loans and securities 25,017,326 + 222,325 + 329,954 Due from foreign banks 22 Uncollected cash items 4,273,585 - 911,714 + 497,332 Bank premises 59,618 52 + 5,403 Other assets 158,078 + , 7,537 7,904 TOTAL ASSETS 51,145,625 - 637,643 + 902,846 L I A B I L I T I ES Federal Reserve notes 26,161,180 - 64,267 + 547,502 Deposits: Member bank—reserve accounts 18,934,952 - 28,393 46,703 U. S. Treasurer—general account 493,696 - 81,522 94,501 Foreign 407,051 + 28,387 35,953 Other 378,783 1,464 5,866 Total deposits 20,214,482 - 82,992 - 777885 Deferred availability cash items 3,543,070 - 497,872 + 376,217 Other liabilities and accrued dividends 20,239 + 970 145 TOTAL LIABILITIES 49,938,971 - 644,161 + 845,689 C A P I T AL ACCOUNTS Capital paid in 298,960 338 + 22,089 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 219,250 + 6,180 820 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,145,625 - 637,643 + 902,846 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 45.356 .2$ Contingent liability on acceptances purchased for foreign correspondents 175 + 15,025 Industrial loan commitments 51 + 720 MATURITY DISTRIBUTION OF LOANS AND SECURITIES O. CTOBER 26, 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 day® 1,018,656 12 4,621 ' 278,646 16 days to 90 days 7,739 34 11,136 6,726,799 91 days to 1 year 5 510 12,952,065 Over 1 year to 5 years 105 1,587,127 Over 5 years to 10 1,013,614 Over 10 years 1.414.857 Digitized for TFRoAtSaEl R http://fraser.stlouisfed.org/ 1,026,400 66l 17,157 23,973,108 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 26', 1955" H.4.1(b) (In thousands of dollars) A SS E T S Total Boston New York Phila* Cleve. Rich. Atlanta Chicago St.Louis Mpls* Kans.Cy. Dallas SariFran. Gold certificates 20,173,353 996,262 5,466,808 1146,950 1754,015 1296,827 855,750 3596,092 864,736 337,105 777,55? 703,338 2377,913 Redemption fund for F. R. notes 833.340 50,566 174.545 57,557 74,664 67,466 49,528 146,615 44,938 23,872 .40,076 27,229 76,281, -Total gold certificate reserves 21,006,693 1046,828 5,641,353 1204,507 1828,679 1364,293 905,278 3742,707 909,674 360,977 817,633 730,567 2454,191 F.R. notes of other Banks 277,842 24,884 62,525 25,498 10,799 14,107 41,242 23,071 9,373 8,941 10,588 15,162 31,652 Other cash 352,461 25,616 79,109 19,161 35,235 19,000 30,138 51,625 16,743 9,007 12,163 12,127 42,531 Discounts and advances 1,026,400 11,100 118,240 59,000 76,700 67,595 56,175 297,130 22,250 56,425 69,367 33,518 158,90C 62 Industrial loans 66l 599 Acceptances— Bought outright 17,157 17,157 — — -- " — —• 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 50,193 137,121 Certificates 2,520,076 139,169 640,465 153,376 216,583 148,469 130,082 439,569 104,578 61,068 109,598 101,050 276,06s 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 1906,081 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 25,017,326 1334,991 6,228,043 1518,650 2137,021 1479,947 1293,619 4478,687 1017,086 637,427 1111,957 994,792 2785,106 Due from foreign banks 2 21 1/ 6 2 2 1 1 3 1 1 1 1$ Uncollected cash items 4,273,585 354,091 7707837 243,008 395,609 331,122 328,486 672,758 189,607 121,094 222,580 236,612 407,78] Bank premises 59^618 5,671 7,603 5,094 5,515 4,902 4,275 6,128 3,416 1,577 3,401 1,9*5 10,091 Other assets 158,078 8.406 39.074 9.178 13,513 9,l8o 8,664 28,636 6,228 3,856 6,64l 7,725 16,971 TOTAL ASSETS 51,145,625 2800,488 12,828,550 3025,098 4426,373 3222,552 2611,703 9003,615 2152,128 1142,880 2184,964 1998,931 5748,34: 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 26, 1955 H.4.1(c) (in thousands of dollars) L I A B I L I T I ES Total Boston New York Phila, CIeve. Rich, Atlanta Chicago St.Louis Mpls, Kans.Cy. Dallas SanFran. Federal Reserve notes 26,161,180 1579,549 5,878,638 1777,246 2431,478 1979,761 1346,096 5065,213 1201,417 534,584 1032,282 716,224 2618,692 Deposits: Member bank-reserve accts. IS,934,952 787,749 5,486,449 880,485 1462,436 834,819 891,127 3074,259 684,018 429,465 871,283 975,014 2557,848 U.S.Treasurer-general acct. 493,696 24,819 93,352 35,689 50,024 38,846 28,092 74,866 37,055 27,221 31,137 28,133 24,462 Foreign 407,051 23,640 1/129,570 27,959 35,854 19,700 16,942 55,160 14,972 9,575 14,554 18,518 40,607 Other 378,783 3,390 299,045 9,264 5,625 2,343 1,331 2,013 7,699 1,767 1,491 1,058 43,757 Total deposits 20,214,482 839,598 6,008,416 953,397 1553,939 895,708 937,492 3206,298 743,744 468,028 918,465 1022,723 2666,674 Deferred avail, cash items 3>543>070 308,085 598,501 206,678 330,141 281,959 271,753 556,059 158,424 107,956 185,345 202,073 336,096 Other liabilities and accrued dividends 20,239 885 5,887 1,084 2,062 997 924 3,239 774 613 814 973 1,987 TOTAL LIABILITIES 49,938,971 2728,117 12,491,442 2938,405 4317,620 3158,425 2556,265 8830,809 2104,359 1111,181 2136,906 1941,993 5623,449 Capital paid in 298,960 15,853 89,163 19,656 28,411 13,681 13,445 39,601 10,408 6,836 11,764 16,163 33,979 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 2,14C Other capital accounts 219,250 13,198 52,556 14,775 19,114 13,617 11,751 35,210 10,221 6,872 10,402 9,483 22,051 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,145,625 2800,488 12,828,550 3025,098 4426,373 3222,552 2611,703 9003,615 2152,128 1142,880 2184,964 1998,931 5748,343 Contingent liability on acceptances purchased for foreign correspondents 27,935 1,668 2/8,252 2,029 2,530 1,390 1,195 3,892 1,057 695 1,057 1,307 2,863 Industrial loan commitments 2,818 165 324 11 81 2,237 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,120,967 1632*966 6,076,439 1836,738 2535,803 2036,071 1408,786 5163,393 1264,319 579,379 1068,459 756,528 2762,086 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 1500,00C Eligible paper 285,737 11,100 — 59,000 — 67,595 — — 22,250 56,425 69,367 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 1500,00C Total collateral 28,633,737 1851,100 6,270,000 1984,000 2570,000 2162,595 1500,000 5300,000 1332,250 706,425 1149,367 808,000 3000,00C 1/ After deducting $277,456,000 participations of other Federal Reserve Banks. 2/ After deducting $19,683,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis