H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM December 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 December 14 increased $8l million to $18,950 million. Estimated required reserves increased $6l million; and estimated excess reserves increased $20 million to $499 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $379 million, compared with $453 million the week before. The principal changes supplying reserves were an increase of $225 million in Federal Reserve holdings of U. S. Government securities, and decreases of $146 million in Treasury deposits with Federal Reserve Banks and $4l million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were increases of $174 million in money in circulation, $58 million in "other" F. R. accounts (net), and $22 million in foreign deposits with Federal Reserve Banks, and decreases of $54 million in member bank borrowings and $16 million in Federal Reserve float. Total Reserve Bank credit increased $154 million. As of Wednesday, December 14, holdings of U. S. Government securities bought outright were $330 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $142 million lower, and member bank borrowings were $413 million lower. Holdings of certificates increased $3,401 million and holdings of notes decreased $3,234 million, the latter amount having been exchanged for new certificates maturing December 1, 195&. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Dec. 14, 1955 Dec. 7, 1955iDec. 15, 1954 (In millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 24,443 +404 -445 Held under repurchase agreement 146 -179 +115 Acceptances: Bought outright 17 - 1 17 Held under repurchase agreement 1 + 1 1 Loans, discounts, and advances — Member bank borrowings 878 - 54 +615 Other 1 - 2 -179 Float 941 - 16 +131 Total Reserve Bank credit 26,423 +154 ^255 Gold stock 21,689 + 1 - 22 Treasury currency outstanding 5,007 - 1 ±|5 53,12% +153? 4§5o Money in circulation 31,244 +174 4489 Treasury cash holdings 786 +6 - 26 Treasury deposits with F. R. Banks 337 -146 - 26 Foreign deposits with F. R. Banks 446 + 22 + 4l Other deposits with F. R. Banks 372 - 41 - 26 Other F. R. accounts (net) 989 + 58 +98 34,174 + 73 +550 Member bank reserve balances- 18,950 + 81 -291 Required reserves (estimated) 18,451 + 61 -104 Excess reserves (estimated) 499 + 20 -187 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 21,689 Treasury cash holdings 779 Treasury currency outstanding 5,007 Member bank) - Required (est.) 18,508 Money in circulation 31,277 reserves ) - Excess (est.) 301 On December 14, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,625 million, an increase of $67 million for the week and an increase of $633 million from the comparable date Digitized for FRASER http://afra syeer.satlrou isafegdo.o.rg / 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 Dec. Ik, Dec. 7, Dec. 15, 1955 1955 1954 A S S E TS . Gold certificates 20,141,352 + 4,000 23,752 Redemption fund for F. R. notes 867,083 + 4,263 1,499 Total gold certificate reserves 21,008,435 + 8,263 - 25,251 F. R. notes of other Banks 248,619 + 11,595 + 99,002 Other cash 291,457 - 7,291 - 20,583 Discounts and advances 564,371 413,491 + 200,862 - Industrial loans 702 + 8 40 - Acceptances: Bought outright 17,495 + 17,495 Held under repurchase agreement 816 + 816 + 816 U, S. Government securities: Bought outright-- Bills 1,518,346 + 163,000 648,654 Certificates 5,920,699 +3, 400,623 -7., 961,642 Notes 14,165,913 -3,233,623 +8,128/642 Bonds 2,801,750 Total bought outright 2475*06,708 + 330,000 - 481,654 Held under repurchase agreement 154,780 W 141,727 + 111,380 Total U. S. Government securities 2%,561,400 100,4? fd - 370,274 Total loans and securities 25,144,872 - 224,394 - 151,141 Due from foreign hanks 22 Uncollected cash items 5,200,695 +1,037,211 + 186,735 Bank premises 61,429 •f 971 + 6,764 Other assets 161,440 48,844 + 39,054 TOTAL ASSETS 52,116,969 + 777,511 + 134,580 L I A B I L I T I ES Federal Reserve notes 26,908,087 + 127,619 + 525,152 Deposits: Member bank—reserve accounts 18,809,069 + l6l,88l 753,389 U. S. Treasurer—general account 424,820 - 44,351 + 91,938 Foreign 433,811 7,584 + 28,988 Other 322,758 - 104,527 1,100 Total deposits 19,990755$ + 57419 633,563 Deferred availability cash items 4,007,720 + 635,254 + 184,395 Other liabilities and accrued dividends 22,954 + + TOTAL LIABILITIES 50,929,219 + 769,406 + 76,069 C A P I T AL A C C O U N TS Capital paid in ~~~ — 300,705 + 401 + 14,526 Surplus (Section 7) 660,901 — *» + 35,888 Surplus (Section 13b) 27,543 — — «**» Other capital accounts 198,601 + 7,704 + 6,077 TOTAL LIABILITIES AND CAPITAL ACCOUNTS + 777,511 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8$ .1$ Contingent liability on acceptances purchased for foreign correspondents 32,579 5,581 + 12,911 Industrial loan commitments —2 i,3P5 2_ + 510 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER l4, 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 559,788 12 6,812 470,630 16 days to 90 days 4,559 13 11,499 1,202,496 91 days to 1 year 24 573 18,872,764 Over 1 year to 5 years 104 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER 1.414.857 http://fraser.sTtlooutisafeld. org/ 564,371 702 18,311 24,561,488 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 14, 1955 HA.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 20,141,352 996,598 5,210,031 1161,705 1715,752 1306,266 889,835 3580,706 908,497 333,872 764,334 690,416 2583,34< Redemption fund for F. R. notes 867,083 53,774 181,681 62»178 78,547 73,727 48,908 155,461 44,602 23,757 4l,8l0 26,986 75,65: Total gold certificate reserves 21,008,435 1050,372 5,391,712 1223,883 1794,299 1379,993 938,743 3736,167 953,099 357,629 806,144 717,402 2658,99: Z.R. notes of other Banks 248,619 15,235 51,278 21,279 8,699 17,828 36,986 26,064 8,306 5,612 8,772 19,370 29,19C Other cash 291,457 20,275 54,410 15,584 25,199 16,409 22,317 45,434 16,873 7,446 12,ll6 12,912 42,482 Discounts and advances 564,371 19,700 64,000 33,120 55,715 35,830 60,530 174,040 7,125 15,150 56,346 30,415 12,40C Industrial loans 702 64l 61 Acceptances: Bought outright 17,495 17,495 -- - - -- • — " -- -- -- Held under repurchase agreement 816 816 TJ. S. Govt, securities: Bought outright— Bills 1,518,346 83,849 385,880 92,410 130,491 89,452 78,373 264,840 63,008 36,794 66,034 60,883 166,332 Certificates 5,920,699 326,965 1,504,716 360,345 508,843 348,812 305,615 1032,730 245,697 143,476 257,491 237,408 648,60] Notes 14,165,913 782,298 3,600,196 862,166 1217,461 834,571 731,216 2470,918 587,857 343,283 616,075 568,025 1551,84, Bonds 2C,.8 0j1QU,X7 5f0 f 1y5 4V, 7J2Ly4&f * (7d1 r2\r,L0d5y1\ Jj1X7.0,5 2J0L 2 4f0 ,C7^9r1\ J 165,06 2S JJ1j44,62 1^ 4.8r8.,701 116,267 67,895 121,848 1 1.2, 3*4 4. .3 0Z6?, 9-2*4 JVAJ ^ f Total 24,406,708 1347,836 6,202,843 1485,441 2097,586 1437,897 1259,825 4257,189 1012,829 591,448 1061,448 978,660 2673,7# Held under repurchase agreement 154,780 154,780 Total U. S. Government securities 24,561,488 1347,836 6.357,623 1485,441 2097,586 1437,897 1259,825 4257,189 1012,829 591,448 106l,448 978,660 2673,7# Total loans and securities 25,144,872 1367,536 6,439,934 1519,202 2153,301 1473,727 1320,355 4431,229 1019,954 606,659 1117,794 1009,075 2686,1# Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 Z Uncollected cash items 5,200,695 375,953 964,830 291,762 522,910 400,468 404,743 889,315 228,285 146,333 255,213 253,227 467,656 Bank premises 61,429 5,639 7,779 5,072 6,029 5,135 4,254 6,088 3,406 2,197 3,468 2,149 10,21; Other assets 161,440 8,538 39,224 9,403 14,304 9,435 8,850 29,824 6,389 3,775 6,775 7,717 17,2# TOTAL ASSETS 52,116,969 2843,549 12,949,173 3086,187 4524,743 3302,996 2736,249 9164,124 2236,313 1129,652 2210,283 2021,853 5911,841 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 DECEMBER l4, 1955 (In thousands of dollars) H.4.1(c) Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpls, Kans.Cy. Dallas SanFran. L I A B I L I T I ES Federal Reserve notes 26,908,087 1622,456 6,088,764 1839,777 2497,547 2040,199 1391,639 5174,498 1249,629 534,154 1054,466 727,096 2687,862 Deposits: Member bank-reserve accts. 18,809,069 773,350 5,389,791 872,035 1450,990 819,985 910,051 3060,643 712,150 413,815 858,689 968.440 2579,134 U.S.Treasurer-general acct. 424,820 27,310 69,779 29,410 32,037 28,677 32,167 45,821 24,586 25,179 32,868 26,890 50,096 Foreign 433,811 25,080 1/137,842 30,514 38,038 20,900 17,974 58,520 15,884 10,450 15,884 19,646 43,079 Other 322,758 3,301 242,421 10.727 4,594 4,301 1.766 2,706 7,813 858 1,038 1.141 42,092 Total deposits 19,990,458 829,041 5,839,833 942,686 1525,659 873,863 961,958 3167,690 760,433 450,302 908,475 1016,117 2714,401 Deferred avail® cash items 4,007,720 319,729 682,217 217,134 392,159 324,814 327,013 649,304 178,472 113,386 199,122 219,728 384,642 Other liabilities and accrued dividends 22,954 1,093 6,730 1,179 2,451 1,218 1,054 3,476 830 650 925 1,051 2,297 TOTAL LIABILITIES 50,929,219 2772,319 12,617,544 3000,776 4417,816 3240,094 2681,664 8994,968 2189,364 1098,492 2162,988 1963,992 5789,202 Capital paid in 300,705 15,869 89,325 19,730 28,496 13,714 13,594 40,224 10,415 6,849 11,902 16,524 34,063 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,l4c Other capital accounts 198,601 12,041 46.915 13,419 17,203 12,359 10,749 30,937 9,394 6,320 9,501 10,045 19,715 TOTAL LIABILITIES AND 52,116,969 2843,549 12,949,173 3086,187 4524,743 3302,996 2736,249 9164,124 2236,313 1129,652 2210,283 2021,853 5911,847 CAPITAL ACCOUNTS Contingent liability on acceptances purchased for foreign, correspondents 32,579 1,956 2/9,498 2,380 2,966 1,630 1,402 4,564 1,239 815 1,239 1,532 3,352 1,920 Industrial loan commitments 2,305 52 322 11 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,919,894 1662,255 6,358,381 1920,807 2605,691 2091,809 1453,154 5284,312 1300,378 579,378 1085,892 765,939 2811,896 Collateral for F.R. notes: 11,688,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 2400,000 425,000 150,000 280,000 283,000 1500,00c Gold certificates Eligible paper 167,271 19,700 33,120 35,830 7,125 15,150 56,346 U. S. Govt, securities 17.ITS!000 1200.000 3.600*000 1200,000.1600*000 1^00.000:1000vOOQ 3000,000 910,000 500,000 800,000 525,000 1500,oqc Total collateral 287990,271 1859,700 6,470,000 19587120 2670,000 2180,830 1500,000 5400,000 1342,125 665,150 1136,346 808,000 3000,00c 1/ After deducting $295,944,000 participations of other Federal Reserve Banks. 2/ After deducting $23,081,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis