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 12, 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 reserves for the week ending January 11 decreased $11 million to $19,453 million. Estimated required reserves decreased $159 million; and estimated excess reserves increased $148 million to $749 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $50 million; the week before they were $18 million less than excess reserves. The principal changes reducing reserves were decreases of $477 million in Federal Reserve holdings of U. S. Government securities and $297 million in Federal Reserve float. The principal offsetting changes were decreases of $238 million in money in circulation, $179 million in "other" deposits with Federal Reserve Banks, and $112 million in Treasury deposits with Federal Reserve Banks, and an increase of $216 million in member bank borrowings. Total Reserve Bank credit decreased $561 million. As of Wednesday, January 11, holdings of U. S. Government securities bought outright were $251 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $235 million lower, and member bank borrowings were $409 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items JJaann.. 1111,, 11995566 Jan. 4, 1956 Jan. 12, 1955 (]Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,191 -200 -320 Held under repurchase agreement 117 -277 + 96 Acceptances-- Bought outright 23 - 1 + 23 Held under repurchase agreement 1 - 2 + 1 Loans, discounts, and advances-- Member bank borrowings 799 +216 +429 Other 2 — «• -132 Float 1,242 -297 4486 Total Reserve Bank credit 26,375 im Gold stock 21,691 + 1 - 22 Treasury currency outstanding 5,008 - 1 + 24 -560 53,074 +585 Money in circulation 30,914 -238 +553 Treasury cash holdings 782 + 8 - 32 Treasury deposits with F. R. Banks 244 -112 -134 Foreign deposits with F. R. Banks 423 - 15 - 70 Other deposits with F. R. Banks 334 -179 - 75 Other F. R. accounts (net) 923 - 16 + 18 33,621 -550 4262 Member bank reserves-- SB 1 M 53 - 11 Required reserves (estimated) 18,704 -159 Excess reserves (estimated) 749 +148 + 55 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 21,691 Treasury cash holdings 790 Treasury currency outstanding 5,008 Member bank) - Required (est.) 18 617 Money in circulation 30,748 reserves ) - Excess (est.) '518 On January 11, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,629 million, an increase of Digitize$d8 f4or FmRiAlSlEiRo n for the week and an increase of $669 million from the comparable date http://fraa seyre.satloru 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 Jan. 11, Jan, 4, Jan. 12, 1956 1955 A S S E TS Gold certificates 20,141,350 3 - 23,753 Redemption fund for F. R. notes 864.693 3.148 - 521 Total gold certificate reserves 21,006,043 - - 24,274 F. R, notes of other Banks 388,263 + 36,963 + 158,600 Other cash 380,458 + 48,616 - 31,975 Discounts ardadvances 806,262 + 408,532 + 269,746 6 6 Industrial loans 695 + + Acceptances: Bought outright 21,943 994 + 21,943 Held under repurchase agreement 354 - 761 354 U. S. Government securities: Bought outright— Bills 1,252,096 - 250,600 - 523,648 Certificates 5,920,699 -7,961,642 Notes 14,165,913 +8,128,642 Bonds 2,801,750 Total bought outright 24,140,458 - 250,600 - 356,640 Held under repurchase agreement 37,100 - 235,000 + 10,100 Total U. S. Government securities 24.177,558 - 485,600 - 346,540 Total loans and securities 25,006,812 - 78,817 - 54,499 Due from foreign banks " 22 Uncollected cash items 4,520,331 - 691,921 + 446,904 Bank premises 61,242 + 68 + 6,369 + 8,362 Other assets 176,039 + 27,177 TOTAL ASSETS - 6f%,68U t 520,3P2, L I A B I L I T I ES 26,613,658 621,544 Federal Reserve notes - 224,099 + Deposits: Member bank reserves 19,135,396^ - 282,889 - 34,164 U. S. Treasurer--general account 349,868 + 84,519 - 106,970 Foreign 458,312 + 7,601 - 44,421 Other 3l8.7&4ai =_ 1051223, - 67.827 Total deposits 20,262,290 - 295,992 - 253,382 Deferred availability cash items 3,504,275 - 167,406 + 108,814 Other liabilities and accrued dividends 13,833 z_ 669 706 688,166 TOTAL LIABILITIES 50,394,056 - + 476,270 C A P I T AL A C C O U N TS Capital paid in 303,808 732 + 14,930 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 120.191 1,5.54 4,391 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.539,210 679.880 528.102 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.8$ Contingent liability on acceptances purchased for foreign correspondents 32,941 363 + 13,537 Industrial loan commitments 2.288 _1± + 1,121 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 11, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) \\\M Discounts and Industrial U. S. Government advances loans Acceptances securities 560,696 Within 15 days 799,994#% 7,780 l6 days to 90 days 6,268- 14,517 5,740,500 91 days to 1 year 13,860,764 Over 1 year to 5 years 43* 1,587,127 Over 5 years to 10 years 1,013,614 Digitized fOovr FeRrA S1E0R years 4-14.857 http://fraser.stlouisTfeodt.oargl/ 806,262 695 22,297 24,177,558 Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY.11, 1956 (in thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificates 20,141,350 963,242 5,131,682 1140,156 1748,589 1277,766 897,848 3586,145 910,496 361,700 818,031 689,358 2616,337 Redemption fund for F. R. notes 864,693 53,401 180,081 6l,469 7777,,996611 71,312 53,590 154,849 44,442 23,704 4l,68i 26,871 75,332 Total gold certificate reserves 21,006,043 1016,643 5,311,763 1201,625 1826,550 1349,078 951,438 3740,994 954,938 385,404 859,712 716,229 2691,669 F.R. notes of other Banks 388,263 26,146 78,989 30,002 18,797 38,969 57,546 36,027 12,223 9,562 9,505 26,931 43,566 Other cash 380,458 26,923 84,020 20,312 28,365 25,405 29,353 57,587 20,732 8,605 14,870 18,294 45,992 Discounts and advances 806,262 23,259 134,236 54,975 56,631 28,626 38,789 326,890 13,638 23,175 40,787 36,551 28,705 Industrial loans 695 — 635 -- -- — — 60 Acceptances: Bought outright 21,943 — - 21,943 " —- -- —- -- -- Held under rep. agree. 354 354 -- — — — — U. S. Govt, securities: Bought outright— Bills 1,252,096 69,146 318,214 76,205 107,608 73,766 64,630 218,399 51,960 30,342 54,454 50,207 137,165 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 24,140,450 1333,133 6,135,177 1469,236 2074,703 1422,211 1246,062 4210,748 1001,781 584,996 1049,868 967,984 2644,539 Held under rep. agree. 37,100 — 37,100 " — ** -- — — — — 584,996 1049,868 Total U. S. Govt. sees. 24,177,558 1333,133 6,172,277 1469,236 2074,703 1422,211 1246,082 4210,748 1001,781 967,984 2644,539 6,328,810 1090,655 1004,535 2673,244 Total loans & securities 25,006,812 1356,392 1524,846 2131,334 1450,837 1284,871 4537,638 1015,419 608,231 Due from foreign "banks 22 1 1/6 2 2 1 1 3 1 1 l 1 2 230,238 Uncollected cash items 4,520,331 348,461 827,527 282,044 443,725 320,632 376,698 713,928 191,419 116,248 239,638 429,773 6,071 10,238 Bank premises 61,242 5,642 7,774 5,050 5,905 5,218 4,045 3,399 2,194 3,554 2,152 Other assets 176,039 9,282 43,269 10,231 14,955 10,198 9,825 31,736 7,082 4,197 7,528 8,428 19,308 TOTAL ASSETS 51,539,210 2789,490 12,682,158 3074,112 4469,633 3200,338 2713,777 9123,984 2205,213 1134,442 2216,063 2016,208 5913,792 l/ After deducting $16,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 11, 1956 (In thousands of dollars) Total •Boston New York ^ ^ ia °iand Richmond Atlanta Chicago ^ouis apolis * City Dallas Franciscc | LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS 6,039,101 1813,686 5136,886 528,689 1044,01 1708,858 2656,513 FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,613,658 1595,351 2473,199 2004,999 1376,729 1235,636 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,135,3^ 784,273 5,322,200 906,528 1520,89 2822,069 913,893 3155,356 722,101 444,078 901,271 1001,159 2641,5^6" UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 349,868 10,304 46,236 21,377 25,497 20,245 23,449 45,810 22,398 20,514 22,060 26,257 45,721 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 458,312 26,255 1/140,557 32,040 40,495 22,695 19,580 62,300 16,910 11,125 16,910 22,695 46,750 OOOOOttttthhhhheeeeerrrrr 318,744 4,939 229,347 9,350 4,957 3>75 1,867 1,742 8,361 713 7,536 989 45,436. TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,262,29a, 845,771 5,738,340 969,295 1591,841 868,484 958,789 3265,20 8769,770 476,430 947,777 1051,100 2779,485} DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,504,275 278,440 581,975 207,835 299,307 265,718 325,196 559,084 153,952 98,810 178,260 198,084 357,614 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 642 4,123 690 1,327 719 648 2,4l6 522 466 560 471 1,249 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 13,833 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,394,056 2720,204 12,363,539 2991,506 4365, 6731439,92 02661,362 8963,594 2159,880 1104,3 925170,608 1958,513 5794,861 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 303,808 16,180 89,526 19,899 29,517 13,845 13,806 40,519 10,601 6,891 12,171 16,624 34,229 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) jjjjj 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 120,191 8,428 25,947 8,727 10,873 8,212 7,006 16,548 6,562 4,497 6,187 5,917 11,287 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,539,210 2789,490 12,682,158 3074,112 4469,633 3200,338 2713,777 9123,984 2205,213 1134,442 2216,063 2016,208 5913,792 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 32,941 l,94l 2/9,451 2,369 2,994 1,678 1,448 4,6o6 1,250 822 1,250 1,678 3,454 309 1,920 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,288 48 11 — — -- — FEDERAL RESERVE AGENTS' ACCOUNTS ??ii FF.. RR.. nnootteess oouuttssttaannddiinngg ^27,849,317 1669,230 6,316,325 1910,853 2595,139 2097,558 1450,575 5294,452 1296,412 581,392 1079,168 754,392 2803,821 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 640,000 2,870,000 725,000 1070,000 845,000 500,00 02400,000 450,000 150,000 280,000 283,000 1500,000 GGoolldd cceerrttiiffiiccaatteess 11,713,000 EElliiggiibbllee ppaappeerr 184,177 23,200 -- 54,903 — 28,575 "" — 13,600 23,150 40,749 17,185,0001 200,000 3,600,000 1200,000 1600,000 1300,000 1000,000 3000,000 910,000 500, 008500,000 525,000 1500,000 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 1861.200 6.470.000 1979.903 2670,000 1373,600 673,150 808,000 3000,000 TToottaall ccoollllaatteerraall 29,082,177 2173,575 1500,000 $400,000 1170,749 l/ After deducting $317,730,000 participations of other Federal Reserve Banks. 2/ After deducting $23,4-90,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis