H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM January 5, 1956 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 January 4 decreased $23 million to $19,464 million. Estimated required reserves increased $88 million; and estimated excess reserves decreased $111 million to $601 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $18 million; the week before they were $4l million less than member bank borrowings. The principal changes reducing reserves were decreases of $336 million in Federal Reserve float and $170 million in member bank borrowings, and an increase of $103 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $263 million in money in circulation, $167 million in Treasury deposits with Federal Reserve Banks, $73 million in "other" Federal Reserve accounts (net), and $59 million in foreign deposits with Federal Reserve Banks, and an increase of $18 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $484 million. As of Wednesday, January 4, holdings of U. S. Government securities held under repurchase agreement were $144 million lower than a week earlier and member bank borrowings were $112 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Jan. 4, 1956 Dec. 28, 19551 Jan. 5, 1955 Reserve Bank credit: U. S. Government securities— Bought outright--System account 24,391 + 6 -483 Held under repurchase agreement 394 + 12 +350 Acceptances-- Bought outright 24 + 4 + 24 Held under repurchase agreement 3 - 2 + 3 Loans, discounts, and advances— Member bank borrowings 583 -170 +344 Other 2 + 1 -132 Float 1,539 -336 4654 Total Reserve Bank credit 26,936 -484 +760 Gold stock 21,690 - - - 22 Treasury currency outstanding 5,009 + l + 25 53,634 +76l Money in circulation 31,152 -263 +651 Treasury cash holdings 774 — •» - 30 Treasury deposits with F. R. Banks 356 -167 - 93 Foreign deposits with F. R. Banks 438 - 59 - 89 Other deposits with F. R. Banks 513 +103 +100 Other F. R. accounts (net) 939 - 73 + 23 34,171 -46o +561 Member bank reserves—- 19,464 r - m 23 +201 Required reserves (estimated) 18,863 +2S3 Excess reserves (estimated) 601 -in - 82 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 783 Treasury currency outstanding 5,008 Member bank) - Required (est.) 18,881 Money in circulation 31,06l reserves ) - Excess (est.) *537 On January 4, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,5^5 million, a decrease of Digitized for FRASER $103 million for the week and an increase of $654 million from the comparable date http://fraser.stlouisfed.org/ Federaal Ryeesearvre Baagnok .of St. Louis

H.4»l(a) STATEMENT OF CONDITION OF THE TWELVE FEDER ARLESERVE BANKS COMBINED (In thousands of dollars) since Jan. 4, Dec. 2b, Jan. 5, 1956 1955 1955 A S S E TS Gold certificates 20,141,353 + 5,000 23,748 Redemption fund for F. R. notes 867,841 -- + 554 Total gold certificate reserves 21,009,19k + 5,000 - 23,194 F. R. notes of other Banks 351,300 + 71,135 + 136,554 Other cash 331,842 4- 38,142 - 50,058 Discounts and advances 397,730 - 111,643 + 39,452 Industrial loans 689 - 23 - 14 Acceptances: Bought outright 22,937 + 1,060 + 22,937 Held under repurchase agreement 1,115 - 5,441 + 1,115 U. S. Government securities: Bought outright— . Bills 1,502,696 __ 614,304 Certificates 5,920,699 » - -7, 961,642 Notes 14,165,913 - - +8,128,642 Bonds 2,801,750 - — •» — Total bought outright 24,391,058 -- - 447,304 Held under repurchase agreement 272,100 - 143,800 + 272,100 Total U. S. Government securities 24,663,150 - 143,800 - 175,204 Total loans and securities 25,085,629 - 259,847 * 111,714 Due from foreign hanks 22 — «• Uncollected cash items 5,212,252 + 106,880 +1,063,326 Bank premises 61,174 - 33 + 6,433 Other assets 167,677 + 11,628 + 26,008 TOTAL ASSETS 52,219,090 27,095 +1,047,355 • L I A B I L I T I ES Federal Reserve notes 26,837,757 - 177,029 + 658,612 Deposits: Member bank reserves 19,418,285 + 528,388 147,391 U. S. Treasurer--general account 265,349 - 256,268 + 43,677 Foreign 450,711 - 17,015 - 112,914 Other 423,937 - 1,331 + 23,229 Total deposits 20,558,282 + 253,774 - 193,399 Deferred availability cash items 3,671,681 26,834 + 532,623 - Other liabilities and accrued dividends 14,502 - 9,188 452 TOTAL LIABILITIES 51,082,222 + 40,723 + 998,260 C A P I T AL A C C O U N TS Capital paid in 303,076 + 715 + 14,997 Surplus (Section 7) 693,612 + 32,711 + 32,711 Surplus (Section 13b) 27,543 -- -- Other capital accounts 112,637 • 101,244 + 1,359 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,219,090 - 27,095 +1,047,355 Ratio of gold certificate reserves to deposit • 4> and F. R. note liabilities combined 44.31 - - .5* Contingent liability on acceptances purchased for foreign correspondents 33,304 183 + 14,110 Industrial loan commitments 2,307 + 13 + 1,153 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 4, 1956 (Acceptances and securities held under repurchase agreement are classified aa 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 392,3*3 1 6,934 748,750 16 days to 90 days 5,387 14 17,118 6,038,046 91 days to ljear 581 13,860,764 Over 1 year to 5 years 93 1,587,127 Over 5 years to 10 years 1,013,614 DigitizeOd vfoer FrR A1S0E Ry ears 1.414.857 http://fraser.stlouTisofetda.olrg / 397,730 689 24,052 24,663,158 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 4, 1956 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. Rans.Cy. Dallas SanFran. Gold certificates 20,141,353 970,737 5,046,448 1171,967 1740,323 1246,625 885,135 3669,512 906,375 370,824 881100,,001155 700,330 2623,062 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 75,460 Total gold certificate reserves 21,009,194 1024,279 5,227,229 1233,705 1818,516 1319,052 938,852 3824,612 950,877 394,553 851,746 727,251 2698,522 F.R. notes of other Banks 351,300 22,757 64,944 31,132 16,963 36,500 50,751 33,024 14,695 9,823 7,796 23,678 39,237 Other cash 331,842 23,707 64,961 16,551 25,991 23,417 26,615 51,755 20,810 7,938 14,444 17,349 38,304 Discounts and advances 397,730 1,610 16,892 27,623 34,176 21,550 61,143 118,540 9,188 9,305 47,453 12,347 37,903 Industrial loans 689 — — •» — 629 — — — — —— — — mm *» 60 ** mm Acceptances: Bought outright 22,937 — — 22,937 —— - — —— — — — — mm mm mm mm mm mm mm Held under repurchase agreement 1,115 — — 1,115 — — — — — — — — — — ** mm mm •» mm mm 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 60,256 164,618 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 Held under repurchase agreement 272,100 272,100 Total U. S. Government securities 24,663,158 13^6,972 6,470,965 1484,488 2096,241 1436,975 1259,018 4254,459 1012,180 591,068 1060,767 978,033 2671,992 Total loans and securities 25,085,629 1348,582 6,511,909 1512,740 2130,417 1458,525 1320,161 4372,999 1021,368 600,433 1108,220 990,380 2709,895 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,212,252 462,670 1,0377993 323,412 513,272 392,843 389,334 862,768 228,288 118,044 262,107 219,481 402,040 Bank premises 61,174 5,642 7,774 5,050 5,905 5,218 4,045 6,071 3,399 2,194 3,486 2,152 10,238 Other assets 167,677 8,678 40,658 9.675 14,015 11,205 9,324 29,998 6,660 3,939 7,147 8,061 18,317 TOTAL ASSETS 52,219,090 2896,316 12,955,474 3132,267 4525,081 3246,761 2739,083 9181,230 2246,098 1136,925 2254,947 1988,353 5916,555 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 CONDITIO NOF EACH FEDERA LRESERVE BANK ON JANUARY 4 ,1956 E.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 26,837,757 1611,743 6,097,138 1830,271 2491,763 2018,588 1389,320 5175,811 1245,107 530,519 1050,842 716,233 2680,422 Deposits: Member bank reserves 19,418,285 860,880 5,319,784 940,941 1527,681 825,898 940,519 3200,338 725,734 461,341 902,816 1022,055 2690,298 U.S.Treasurer-general acct. 265,349 10,551 49,814 19,012 19,708 17,79^ 13,199 44,523 20,996 8,850 24,148 10,041 26,713 Foreign 450,711 26,460 1/138,458 32,193 40,131 22,050 18,963 61,740 16,758 11,025 16,758 20,727 45,448 Other 423,937 ~ 338,452 3,088 2,277 1,484 9,970 835 1,981 998 44,655 Total deposits 20,558,282 900,820 5,846,508 1001,809 1595,125 868,830 974,958 3308,085 773,458 482,051 945,703 1053,821 2807,114 Deferred avail, cash items 3,671,681 314,236 690,282 217,407 333,723 298,747 322,189 535,843 181,987 94,060 212,938 160,533 309,736 Other liabilities and accrued dividends 14,502 614 5,033 776 1,276 653 618 2,549 510 438 544 418 1,073 TOTAL LIABILITIES 51,082,222 2827,413 12,638,961 3050,263 4421,887 3186,818 2687,085 9022,288 2201,062 1107,068 2210,027 1931,005 5798,345 Capital paid in 303,076 16,168 89,482 19,766 29,392 13,793 13,771 40,497 10,573 6,874 11,967 16,563 34,230 Surplus (Section 7) 693,612 41,667 195,827 49,491 62,563 35,012 30,841 101,894 27,649 17,586 25,960 33,847 71,275 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 112,637 8,057 23,885 8,258 10,233 7,789 6,624 15,122 6,293 4,324 5,856 5,631 10,565 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,219,090 2896,316 12,955,474 3132,267 4525,081 3246,761 2739,083 9181,230 2246,098 1136,925 2254,947 1988,353 5916,555 Contingent liability on acceptances purchased for foreign correspondents 33,304 1,998 2/9,728 2,431 3,030 1,665 1,432 4,662 1,265 833 1,265 1,565 3,430 Industrial loan commitments 2,307 — — 54 322 11 1,920 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. note soutstanding 27,950,074 1672,643 6,343,711 1918,150 2609,532 2105,333 1459,034 5308,842 1302,107 582,647 1085,445 760,217 2802,413 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 116,445 1,550 -- 27,550 -- 21,500 — — 9,150 9,280 47,415 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 1500,000 Total collateral 29,014,445 1841,55 06,470,000 1952,550 2670,000 2166,500 1500,000 5400,000 1369,15 0659,280 1177,415 508,000 3000,000 l/ After deducting $312,228,000 participations of other Federa lReserve Banks. 2/ After deducting $23,576,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis