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 22, 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 21 increased $496 million to $19,446 million. Estimated required reserves increased $267 million; and estimated excess reserves increased $229 million to $695 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $49 million, compared with $379 million the week before. The principal changes supplying reserves were an increase of $805 million in Federal Reserve float, and decreases of $36 million in "other" deposits with Federal Reserve Banks and $l4 million in Treasury cash holdings. The principal offsetting changes were a decrease of $134 million in member bank borrowings, and increases of $120 million in money in circulation, $64 million in Treasury deposits with Federal Reserve Banks, $23 million in foreign deposits with Federal Reserve Banks, and $21 million in "other" F, R. accounts (net). Total Reserve Bank credit increased $673 million. As of Wednesday, December 21, holdings of U. S. Government securities bought outright were $51 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $127 million higher, and member bank borrowings were $106 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Dec. 21, 1955 Dec. 14, 19551 Dec. 22, 1954 (in millions of dollars) Reserve Bank credit: U. S. Government securities — Bought outright--System account 24,375 - 68 -513 Held under repurchase agreement 213 + 67 +173 Acceptances- Bought outright 17 17 Held under repurchase agreement 1 l Loans, discounts, and advances — Member bank borrowings 744 -134 +597 Other 4 + 3 -161 Float 1,746 +805 +373 Total Reserve Bank credit 27,101 +573 +48$ Gold stock 21,689 - 23 Treasury currency outstanding 5,008 + 1 + 26 53,79% +S93 Money in circulation 31,364 +120 +479 Treasury cash holdings 772 - 14 - 28 Treasury deposits with F. R. Banks 4oi + 64 + 56 Foreign deposits with F. R. Banks 469 + 23 + 26 Other deposits with F. R. Banks 336 - 36 - 10 Other F. R. accounts (net) 1,010 + 21 + 35 34,352 +178 +559 Member bank reserve balances — 19^446. +496 Required reserves (estimated) 18,751 + W Excess reserves (estimated) 695 +229 -127 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 21,690 Treasury cash holdings 776 Treasury currency outstanding 5,008 Member bank) - Required (est.) 18,830 Money in circulation 31>406 reserves ) - Excess (est.) 559 On December 21, 1955/ U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,665 million, an increase of Digitiz$e4d 0fo r mFRiAlSlEiRo n for the week and an increase of $702 million from the comparable date a http://yfreasaerr. stlaoguiosf.ed .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 Dec. 21, Dec. iiT Dec. 22, 1955 1955 1954 A S S E TS Gold certificates 20,136,352 - 5,000 28,749 Redemption fund for F. R. notes 869,949 + 2,866 + 2,544 Total gold certificate reserves 21,006,301 - 2:13% • 26,205 F. R. notes of other Banks 262,631 + 14,012 + m,6oo Other cash 285,616 - 5,841 - 13,266 Discounts and advances 670,438 + 106,067 + 406,029 Industrial loans 640 - 62 - 1 Acceptances: Bought outright 17,589 + 94 + 17,589 Held under repurchase agreement 2,004 + 1,188 + 2,004 U. S. Government securities: Bought outright-- . Bills 1,467,846 50,500 699,154 Certificates 5,920,699 —— -7 ,961,642 Notes 14,165,913 w — +8,128,642 Bonds 2,801,750 • - — — Total bought outright 24,356,208 - 50,500 - 532,154 Held under repurchase agreement 281,680 + 126,900 + 281,680 Total U. S. Government securities 24,637,888 + 76,400 250,474 ~ Total loans and securities 25,328,559 + 183,687 + 175,147 Due from foreign banks 22 w — — W Uncollected cash items 5,716,030 + 515,335 +1,021,588 Bank premises 61,414 15 + 6,581 Other assets 148,004 - 13,436 + 19,492 TOTAL ASSETS 52,808,577 + 691,608 +1,294,937 L I A B I L I T I ES Federal Reserve notes 27,038,037 + 129,950 + 494,662 Deposits: Member bank--reserve accounts 19,389,157 + 580,088 + 22,284 U. S. Treasurer—general account 539,179 + 114,359 + 229,175 Foreign 479,319 + 45,508 + 29,787 Other 319,502 - 3,256 + 944 Total deposits 20,727,157 + 736,699 + 282,190 Deferred availability cash items 3,823,489 * 184,231 + 456,791 Other liabilities and accrued dividends 23,386 + 432 + 1,218 TOTAL LIABILITIES 51,612,069 + 682,850 +1,234,861 C A P I T AL A C C O U N TS Capital paid in 301,888 + 1,183 + 15,286 Surplus (Section 7) 660,901 — -» + 35,888 Surplus (Section 13b) 27,543 - - — «• Other capital accounts 206,176 + 7,575 + 8,902 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,808,577 + 691,608 +1,294,937 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.0# - .8# - .8$ Contingent liability on acceptances purchased for foreign correspondents 34,161 + 1,582 + 14,789 Industrial loan commitments ML. J02 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 21, 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 666,064 21 8,650 698,130 l6 days to 90 days 4,353 4 10,943 5,063,396 91 days to 1 year 21 512 14,860,764 Over 1 year to 5 years 103 1,587,127 Over 5 years to 10 years 1,013,614 DigitizedO vfoer rFR A1S0E Ry ears 1.414.857 http://fraser.stlouTisofetda.olrg / 670,438 646 19,593 24,637,888 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 21, 1955 H.4.l(b) (In thousands of dollars) A S S E TS Total Boston New York Phila. Cleve. Rich. Atlanta Chicago St.Louis Mpla. Kans.Cy. Dallas SanFran, Gold certificates 20,136,352 993,237 5,123,363 1168,836 1776,791 1294,580 913,919 3616,090 905,673 344,013 797,954 726,444 2475,452 Redemption fund for F. R. notes 869,949 53,657 181,227 61,956 78,366 73,087 53,809 155,278 44,551 23,742 41,772 26,952 75,552 Total gold certificate reserves 21,006,301 1046,894 5,304,590 1230,792 1855,157 1367,667 967,728 3771,368 950,224 367,755 839,726 753,396 2551,004 F.R. notes of other Banks 262,631 15,635 49,214 24,693 10,372 21,449 36,866 26,052 8,834 5,556 9,992 18,094 35,874 Other cash 285,616 20,379 52,604 14,922 20,994 16,826 23,880 43,574 16,872 7,589 12,832 13,003 42,14] Discounts and advances 670,438 12,125 188,335 53,310 49,295 30,300 53,625 171,938 13,725 29,105 34,265 14,565 19,85C Industrial loans 640 —— 580 -- - — 60 — — — — —— Acceptances: Bought outright 17,589 -- 17,589 — - —- -- " -- • - — — —— — •» Held under repurchase agreement 2,004 - - 2,004 - - - — - - — «• — — * «. — — U. S. Govt, securities: Bought outright— Bills 11,,446677,,884466 81,060 373,045 89,337 126,151 86,477 75,767 256,031 60,913 35,570 63,837 58,858 160,80c Certificates 5,920,699 326,965 1,504,716 360,345 508,843 348,812 305,615 1032,730 245,697 143,476 257,491 237,408 648,601 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 1551,841 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 24,356,208 1345,047 6,190,000 1452,368 2093,246 1434,922 1257,219 4248,380 1010,734 590,224 1059,251 976,635 2668,17% Held under repurchase agreement 281,680 281,680 Total U. S. Government securities 24,637,888 1345,047 6,471,688 1482,368 2093,246 1434,922 1257,219 4248,380 1010,734 590,224 1059,251 976,635 2668,17*1 -Total loans and securities 25,328,559 1357,172 6,679,616 1536,258 2142,541 1465,222 1310,844 4420,318 1024,459 619,389 1093,516 991,200 2688,024 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 11 1 2 Uncollected cash items 5,716,030 467,305 1,062,038 362,892 554,814 435,980 407,575 950,128 237,065 142,482 283,793 266,289 545,669 Bank premises 6l,4l4 5,639 7,784 5,050 6,030 5,136 4,254 6,088 3,406 2,197 3,468 2,149 10,213 Other assets 148,004 7,900 36,362 8,489 12,732 8,390 8,278 26,954 5,861 3,503 6,249 7,421 15,865 TOTAL ASSETS 52,808,577 2920,925 13,192,214 3183,098 4602,642 3320,671 2759,426 9244,485 2246,722 1148,472 2249,577 2051,553 5888,792 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 OK DECEMBER 21, 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 27,038,037 1628,061 6,126,375 1851,419 2517,145 2049,106 1406,514 5196,584 1256,125 535,131 1055,359 730,102 2686,1% Deposits: Member bank-reserve accts. 19/389*157 846,498 5,605,497 917,828 1495,180 817,677 929,466 3159,834 728,108 436,888 901,100 996,260 2554,82] UoS*Treasurer-general acct 539,179 33,192 100,575 44,705 31,813 39,950 45,067 66,482 23,981 31,551 35,514 36,905 49,441 Foreign 479,319 27,840 1/150,782 33,872 42,224 23,200 19,952 64,960 17,632 11,600 17,632 21,808 47,81' Other 848 Total deposits 20,727,157 910,556 6,099,159 1008,113 1574,814 883,321 996,467 3292,469 776,786 481,784 955,297 1055,821 2692,57< Deferred avail, cash items 3,823,489 309,625 625,507 236,486 400,061 323,607 300,439 581,142 165,784 99,511 190,478 206,353 384,49* Other liabilities and accrued dividends 23,386 1,082 7,411 1,171 2,428 1,297 973 3,547 730 711 803 1,109 2,121 TOTAL LIABILITIES 51,612,069 2849,324 12,858,452 3097,189 4494,448 3257,331 2704,393 9073,742 2199,425 1117,137 2201,937 1993,385 5765,3# Capital paid in 301,888 15,874 89,373 19,761 29,164 13,746 13,675 40,415 10,482 6,855 11,924 16,536 34,08- 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 66,72! 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,l4( Other capital accounts ' ' 13,886 " ' ' ' TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,808,577 2920,925 13,192,214 3183,098 4602,642 3320,671 2759,426 9244,485 2246,722 1148,472 2249,577 2051,553 5888,79: Contingent liability on acceptances purchased for foreign correspondents 34,l6l 2,052 2/9,947 2,496 3,112 1,710 1,471 4,788 1,300 855 1,300 1,607 3,52; Industrial loan commitments 2,366 -- 113 322 11 -- -- 1,920 " FEDERAL RESERVE AGENTS1 ACCOUNTS F. R. notes outstanding 28,014,961 1678,575 6,362,841 1926,690 2617,734 2101,066 1463,077 5310,682 1303,751 581,820 1089,498 764,327 28l4,90C Collateral for F.R. notes: Gold certificates 11,713,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 2400,000 450,000 150,000 280,000 283,000 1500,00C Eligible paper 172,830 12,125 53,310 — 30,300 13,725 29,105 34,265 — — U» S. Govt, securities 17,185,000 1200,000 3,600,000 1200,000 1600,000 1300,000 1000,000 3000,000 910,000 500,000 850,000 525,000 1500,00C Total collateral 29,070,830 1852,125 6",~570,000 1978,310 2670,000 2175,300 1500,000*3500,000 1373,725 679,105 1164,265 808,000 3000,00C l/ After deducting $328,512,000 participations of other Federal Reserve Banks. 2/ After deducting $24,214,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis