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 29, 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 28 increased $4l million to $19,48? million. Estimated required reserves increased $23 million; and estimated excess reserves increased $18 million to $704 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $49 million, compared with $5 8million the week before. The principal changes supplying reserves were Increases of $179 million in Federal Reserve holdings of U. S. Government securities and $129 million in Federal Reserve float. The principal offsetting changes were increases of $122 million in Treasury deposits with Federal Reserve Banks, $74 million in "other" deposits with Federal Reserve Banks, $51 million in money in circulation,and $28 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $319 million. As of Wednesday, December 28, holdings of U. S. Government securities bought outright were $35 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $134 million higher, and member bank borrowings were $162 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items DDeecc.. 2288,, 11995555 Dec. 21, 19551 Dec. 29, 1954 (In aiL]l lions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 24,385 + 10 -503 Held under repurchase agreement 382 +169 +352 Acceptances-- Bought outright 20 + 3 + 20 Held under repurchase agreement 5 + 4 + 5 Loans, discounts, and advances-- Member bank borrowings 753 + 9 +510 Other - 3 -133 Float 1,875 +129 Total Reserve Bank credit 27,420 +319 m Gold stock 21,690 + 1 - 22 Treasury currency outstanding 5,008 + 26 54,118 +320 +991 Money in circulation 31,415 + 51 +587 Treasury cash holdings 17 k +2 - 27 Treasury deposits with F. R. Banks 523 +122 + 70 Foreign deposits with F. R. Banks 497 + 28 - 26 Other deposits with F. R. Banks 4io + 74 +115 Other F. R. accounts (net) 1,012 + 2 + 36 34,631 +279 475% Member bank reserve balances-- 19,487 + 41 +237 Required reserves (estimated) 18,783 + 23 +153 Excess reserves (estimated) 704 + 18 + 84 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 778 Treasury currency outstanding 5,008 Member bank) - Required (est.) 18,756 Money in circulation 31,357 reserves ) - Excess (est.) 134 On December 28, 1955, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,648 million, a decrease of Digitiz$e1d 7fo r FmRiAlSlEiRo n for the week and an increase of $701 million from the comparable date http://fara syere.satloru isafegdo.o.rg / Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 28, Dec. 21, Dec. 29, 1955 1955 1954 A S S E TS Gold certificates 20,136,353 + 1 28,749 Redemption fund for F. R. notes 867,841 - 2,108 + 436 Total gold certificate reserves 21,004,194 - 2,107 - 28,313 F. R. notes of other Banks 280,165 + 17,534 + 73,359 Other cash 293,700 + 8,084 - 47,579 Discounts and advances 509,373 - 161,065 - 55,195 Industrial loans 712 + 72 + 90 Acceptances: Bought outright 21,877 + 4,288 + 21,877 Held under repurchase agreement 6,556 + 4,552 + 6,556 U. S. Government securities: Bought outright-- Bills 1,502,696 34,850 - 664,304 Certificates 5,920,699 -7,961,642 Notes 14,165,913 +8,128,642 Bonds 2,801,750 Total bought outright 24,391,058 + 34,850 - 497,304 Held under repurchase agreement 415,900 ±- 134,220 + 352,900 Total U. S. Government securities 24,806i958 + 169,070 - 144,404 Total loans and securities 25,345,476 + 16,917 - 171,076 Due from foreign banks 22 Uncollected cash items 5,105,372 - 610,658 +1,001,419 Bank premises 61,207 207 + 6,360 Other assets 156,049 + 8,045 + 21,566 TOTAL ASSETS 52,246,185 - 562,392 + 855:736 L I A B I L I T I ES Federal Reserve notes 27,014,786 23,251 + 684,399 Deposits: Member bank—reserve accounts 18,889,897 - 499,260 - 342,978 U. S. Treasurer--general account 521,617 - 17,562 + 56,166 Foreign 467,726 - 11,593 - 108,977 Other 425,268 + 105,766 + 54,847 Total deposits 20,304,508 - 422,649 - 340,942 Deferred availability cash items 3,698,515 - 124,974 + 448,660 Other liabilities and accrued dividends 23,690 + 304 + m TOTAL LIABILITIES 51,041,499 - 570,570 + 792,024 C A P I T AL A C C O U N TS Capital paid in 302,361 473 + 14,803 Surplus (Section 7) 660,901 + 35,888 Surplus (Section 13b) 27,543 Other capital accounts 213,881 + ,7,705 12^221 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 52,246,185 - 562,392 655,736 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.4% Contingent liability on acceptances purchased for foreign correspondents 33,487 674 + 14,308 Industrial loan commitments 2,294 7 2 t 333 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 28, 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 502,931 21 12,600 952,550 16 days to 90 days 5,427 4 15,833 4,978,046 91 days to 1 year 1,015 584 14,860,764 Over 1 year to 5 years 103 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.Tstolotuiasfled .org/ 509,373 1W 20,433 24,006,958 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 28, 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 20,136,353 933,9^1 4,906,891 1206,043 1865,765 1251,981 928,659 3728,658 909,833 346,551 831,011 703,004 2524,016 Redemption fund for F. R. notes 867,841 53,542 180,781 61,738 78,193 72,427 53,717 155,100 44,502 23,729 41,731 26,921 75,46c Total gold certificate reserves 21,004,194 987,483 5,087,672 1267,781 1943,958 1324,408 982,376 3883,758 954,335 370,280 872,742 729,925 2599,476 F.R. notes of other Banks 280,165 15,399 49,490 29,444 11,399 26,913 41,486 29,004 11,381 6,084 8,672 18,764 32,125 Other cash 293,700 19,04l 57,891 14,420 24,443 19,308 23,655 44,768 18,017 7,420 13,317 13,901 37,51s Discounts and advances 509,373 12,485 122,262 41,683 19,006 31,405 63,293 98,506 9,018 15,280 31,685 7,147 57,603 Industrial loans 712 652 60 — - - - - Acceptances: Bought outright 2211,,887777 21,877 — — —* «• — —— —— — — — — — W Held under repurchase agreement 6,556 6,556 «i «• *«• — — — — — — U. S. Govt, securities: Bought outright- Bills 1,502,696 82,985 381,902 91,457 129,146 88,530 77,566 262,110 62,359 36,414 65,353 60,256 164,616 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 1551,847 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 24,391,058 1346,972 6,198,865 1484,488 2096,241 1436,975 1259,018 4254,459 1012,180 591,068 1060,767 978,033 2671,992 Held under repurchase agreement 415,900 — 415,900 Total U. S. Government securities 24,806,958 1346,972 6,614,765 1484,488 2096,241 1436,975 1259,018 4254,459 1012,180 591,068 1060,767 978,033 2671,995 Total loans and securities 25,345,476 1359,457 6,765,460 1526,823 2115,24? 1468,380 1322,311 4352,965 1021,198 606,408 1092,452 985,180 2729,595 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,105,372 430,395 1,0557986 283,721 495,108 385,715 422,135 817,385 207,668 122,445 214,553 176,052 494,21; Bank premises 61,207 5,642 7,784 5,050 6,023 5,116 4,038 6,089 3,405 2,194 3,479 2,149 10,23* Other assets 156,049 8,129 38.200 8,959 13,595 9,013 8.786 28,303 6,247 3,715 6,583 7,711 l6,80f TOTAL ASSETS 52,246,185 2825,547 13,062,489 3136,200 4609,775 3238,854 2804,788 9162,275 2222,246 1118,547 2211,799 1933,683 5919,982 Digitized for FRASER l/ After deducting $16,000 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 28, 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 27,014,786 1630,543 6,123,089 1851,146 2512,845 2037,336 1399,487 5197,492 1255,594 533,193 1053,916 726,772 2693,373 Deposits: Member bank-reserve accts. 18,889,897 761,175 5,357,800 894,928 1522,904 774,602 938,673 3118,140 693,680 415,438 865,083 947,060 2600,414 U.S.Treasurer-general acct. 521,617 35,518 84,452 44,653 42,890 31,235 46,490 50,463 31,233 25,411 45,601 39,148 44,523 Foreign 467,726 27,780 1/139,897 33,799 42,133 23,150 19,909 64,820 17,594 11,575 17,594 21,761 47,714 Other 425,268 3,379 344,704 9,956 Total deposits 20,304,508 827,852 5,926,853 983,336 1613,228 830,816 1006,549 3235,070 750,962 453,390 929,306 1008,937 2738,209 Deferred avail, cash items 3,698,515 294,041 668,735 214,174 372,250 305,825 342,353 554,169 167,274 99,701 179,695 138.352 361,946 Other liabilities and accrued dividends 23,690 1,037 7,785 1,178 2,497 1,106 1,009 3,356 818 737 903 1,142 2,122 TOTAL LIABILITIES 51,041,499 2753,473 12,726,462 3049,834 4500,820 3175,083 2749,398 8990,087 2174,648 1087,021 2163,820 1875,203 5795,650 Capital paid in 302,361 16,011 89,388 19,761 29,299 13,755 13,677 40,460 10,493 6,861 11,936 16,559 34,l6l 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 213.881 12,743 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,246,185 2825,547 13,062,489 3136,200 4609,775 3238,854 2804,788 9162,275 2222,246 1118,547 2211,799 1933,683 5919,982 Contingent liability on acceptances purchased for foreign correspondents 33,487 2,010 2/9,769 2,445 3,048 1,675 1,440 4,690 1,273 838 1,273 1,575 3,451 Industrial loan commitments 2,294 — 41 322 11 — 1,920 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,986,590 1674,564 6,351,779 1923,238 2611,542 2103,543 1458,385 5315,666 1303,151 583,814 1090,483 762,578 2807,847 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 1500,000 Eligible paper 141,272 12,425 — 41,610 — 31,355 — 8,980 15,255 31,647 U. S. Govt, securities 17,185,000 1200,000 3,600,000 1200,000 1600,000 1300,000 1000,0003 000,000 910,000 500,000 850,000 525,000 1500,000 Total collateral 29,039,272 1852,425 6,470,000 1966,610 2670,000 2176,355 1500,000 5400,000 1368,980 665,255 1161,647 808,000 3000,000 l/ After deducting $327 804 000 participations of other Federal Reserve Banks. 2/ After deducting $23,718,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis