H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD bP GOVERNORS For Immediate Release H.4.1 OF TfiE FEDERAL RESERVE SYSTEM January 19, 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 tank reserves for the week ending January 18 decreased $317 million to $19,136 million. Estimated required reserves decreased $155 million; and estimated excess reserves decreased $162 million to $568 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $352 million, compared with $69 million the week before. The principal changes reducing reserves were decreases of $389 million in U. S. Government securities bought outright, $115 million in U. S. Government securities held under repurchase agreement, and $117 million in Federal Reserve float, and an increase of $ll6 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $282 million in money in circulation and an increase of $121 million in member bank borrowings. Total Reserve Bank credit decreased $503 million. As of Wednesday, January 18, holdings of U» S. Government securities bought outright were $451 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $37 million lower, and member bank borrowings were $17 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Jan. 18, 1956 Jan. 11, 19561 Jan. 19",1 955 (In millions of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,802 -389 -326 Held under repurchase agreement 2 -115 -25 Acceptances-- Bought outright 21 - 2 + 21 Held under repurchase agreement - 1 Loans, discounts, and advances— Member bank borrowings 920 +121 ++660088 Other 2 -- -132 Float 1,125 -117 +244 Total Reserve Bank credit 25,872 -503 +390 Gold stock 21,692 + 1 - 22 Treasury currency outstanding 5,008 «• — + 23 52,572 ^502 +392 Money in circulation 30,632 -282 +553 Treasury cash holdings 786 + 4 - 32 Treasury deposits with F. R. Banks 360 +116 + 85 Foreign deposits with F. R. Banks 417 - 6 - 99 Other deposits with F. R. Banks 321 - 13 - 92 Other F. R. accounts (net) 920 - 3 + 18 33,435 331 Member bank reserves-- igdL36 -317 - 40 Required reserves (estimated) 18,568 -155 +185 Excess reserves (estimated) 568 -162 -225 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 21,692 Treasury cash holdings 788 Treasury currency outstanding 5,008 Member bank) Required (est.) 18,561 Money in circulation 30,480 reserves ) Excess (est.) 605 On January 18, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,672 million, an increase of $43 million for the week and an increase of $696 million from the comparable date Digitized for FRASER http://fraase ry.setloauris feadg.oorg./ 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. 18, Jan. 11, Jan. 19, 1956 1956 1955 A S S E TS Gold certificates 20,151,352 10,002 - 22,751 Redemption fund for F, R. notes 862,747 2,466 Total gold certificate reserves 21,014,099 + - 25,217 F. R. notes of other Banks 403,670 + 15,407 + 175,076 Other cash 421,164 + 40,706 - 13,659 Discounts and advances 823,622 + 17,360 + 526,024 Industrial loans 682 13 + 110 Acceptances: Bought outright 20,745 1,198 20,745 Held under repurchase agreement - - 354 U. S. Government securities: Bought outright— 801,200 - 450,896 - 376,744 Bills Certificates 5,920,699 -7,961,642 Notes 14,165,913 +8,128,642 Bonds 2,801,750 Total bought outright 23,689,562 - 450,896 - 209,744 Held under repurchase agreement - 37,100 9,500 Total U. S. Government securities 23,609,562 - 407,996 - 219,244 Total loans and securities 24,534,611 - 472,201 + 327,635 Due from foreign banks 22 Uncollected cash items 5,167,788 + 647,457 + 658,342 Bank premises 61,912 + 670 + 6,981 Other assets 185,673 + 9,634 + 29,664 TOTAL ASSETS 51,788,939 + 249,729 +1,158,022 L I A B I L I T I ES Federal Reserve notes 26,406,976 206,682 + 617,169 Deposits: Member bank reserves 19,166,490 31,102* + 100,148 U. S. Treasurer--general account 289,053 60,815 + 129,483 Foreign 374,450 83,862 - 101,029 Other 310,522 8,200* - 80,788 Total deposits 20,140,515 - 121,775 + 47,814 Deferred availability cash items 4,074,409 + 570,134 + 439,816 Other liabilities and accrued dividends 13,888 + . 55 992 TOTAL LIABILITIES 50,635,708 + 241,732 +1,103,007 C A P I T AL A C C O U N TS Capital paid in 304,335 + 527 + 14,882 Surplus (Section 7) 693,612 -- + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 127,661 + 7,470 + 7,422 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 5XI788,939 + 249.729 +1.158.822 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.1 $ + .3# .8# Contingent liability on acceptances purchased for foreign correspondents 32,674 267 + 11,460 Industrial loan commitments .2,504. + 216 697 *January 11 figures revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JANUARY 18, 1956 (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 817,838 1 6,552 355,800 16 days to 90 days 5,784 15 14,193 5,457,400 91 days to 1 year 574 13,860,764 Over 1 year to 5 years 92 1,587,127 Ove;r 5 years to 10 years 1,013,614 - 1.414.857 Digitized fOovr FeR ArS E1R0 years http://fraser.stlouisfTeod.toragl/ 823,622 682 20,745 23,689,562 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY l8, 195^ (in thousands of dollars) Phila- Cleve- St. Minne- j Kansas San Total Boston New York Richmond! Atlanta Chicago Dallas delphia land Louis apolis j City Francisco 1 , A S S E TS Gold certificates 20,151,352 945,896 5,203,051 1141,907 1824,486 1273,509 881,118 3565,405 916,248 341,562 842,526 678,771 2536,873 Redemption fund for F. R. notes 862,747 53,290 179,697 61,270 77,788 70,726 53,497 154,682 44,393 23,686 41,639 26,842 75,237 Total gold certificate reserves 21,014,099 999,186 5,382,748 1203,177 1902,274 1344,235 934,615 3720,087 960,641 365,248 884,165 705,613 2612,110 F.R. notes of other Banks 403,670 29,265 86,211 28,408 17,378 40,860 64,605 34,324 12,261 10,197 7,830 27,046 45,285 Other cash 421,164 29,884 92,983 24,680 29,808 27,060 34,849 64,652 21,418 9,897 16,159 18,176 51,598 Discounts and advances 823,622 28,034 209,236 43,600 69,956 28,246 40,754 260,515 3,513 42,500 41,262 37,801 18,205 Industrial loans 682 622 60 — Acceptances— Bought outright 20,745 20,745 U. S. Govt, securities: Bought outright-- Bills 801,200 44,245 203,621 48,763 68,857 47,202 41,356 139,750 33,249 19,415 34,845 32,127 87,770 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 23twhi52 1308,232 6,0"2J0L,. 5J8L4 — r1Si4.4 1~, i7 9S4~ \.2r0r3 5•,» 9M5 2/- >1395,557 1222,808 413 2f, 0>9 19~. \9r8\3 r,-0x7 0" > «.5 7O4 ,«-0>6 r9tr r1 /«0n—*3-»!0., 2'5 9n A9l4.9,904 259 5r\, 1a4a4 K nrr.r n !, !• Held under repurchase agreement Total U. S. Govt, sees. 23,689,562 1308,232 6,020,584 1441,794 2035,952 1395,647 1222,808 4132,099 983,070 574,069 1030,259 949,904 2595,144 Total loans & securities 24,534,611 1336,266 6,250,565 1486,016 2105,908 1423,893 1263,562 4392,614 986,583 616,629 1071,521 987,705 2613,349 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 1 1 1 2 Uncollected cash items 5,167,788 420,362 1,001,160 307,162 494,114 371,255 422,588 828,338 206,427 128,415 242,218 249,404 496,345 Bank premises 61,912 5,642 7,873 5,050 6,024 5,308 4,045 6,072 3,403 2,499 3,599 2,152 10,245 Other assets 185,673 9,767 45,805 10,791 15,906 10,666 10,295 33,335 7,449 4,402 7,930 8,957 20,370 TOTAL ASSETS 51,788,939 2830,373 12,867,351 3065,286 4571,414 3223,278 2734,560 9079,425 2198,183 1137,288 2233,423 1999,054 5849,3% l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 18, 1956 H.4.1(c) (In thousands of dollars) Total Boston New York P d h e i l l p a hi - a Cl l e a v n e d - Richmond Atlanta Chicago L S ou t i . s M a i p n o n l e i - s K C a i n t sa y s Dallas Fra S n a ci n s co L I A B I L I T I ES Federal Reserve notes 26,406,976 1583,384 5,999,391 1797,653 2456,369 1987A93 1360,432 5102,756 1228,486 526,188 1037,597 703,406 2624,121 Deposits: Member bank reserves 19,166,490 829,981 5,447,094 897,100 1540,034 824,044 905,288 3071,639 709,904 444,908 913,365 979,767 2603,366 32,982 29,867 24,146 15,199 26,071 30,109 11,354 U.S.Treas.-gen. acct, 289,053 14,670 38,674 14,818 29,807 21,356 Foreign 374,450 21,417 1/115,243 26,136 33,033 18,513 15,972 50,820 13,794 9,075 13,794 18,513 38,140 Other 310,522 3,987 227,663 10,049 5,662 3,230 1,471 1,391 6,681 770 4,123 767 44,728 Total deposits 20,140,515 870,055 5,828,674 948,103 1608,536 867,143 955,713 3153,717 754,525 469,952 957,353 1029,156 2697,588 Deferred availability cash items 4,074,409 306,177 714,334 235,738 400,464 307,504 365,094 658,758 169,176 110,452 192,078 207,944 406,690 Other liabilities and accrued dividends 13,888 1,086 4,292 708 1,419 577 536 2,347 389 466 453 548 1,067 2760,702 12,546,691 2982,202 4466,788 3162,417 2681,7 785917,578 2152,576 1107,05 82187,481 1941,054 5729,466 TOTAL LIABILITIES 50,635,788 CAPITAL ACCOUNTS Capital paid in 304,335 16,188 uy, =y6 9 19,919 29,557 13,874 13,829 40,543 10,613 6,912 12,360 16,64l 34,330 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 127,661 8,805 27,945 9,185 11,500 8,626 7,353 17,981 6,824 4,659 6,485 6,205 12,093 TOTAL LIABILITIES AND 2830,373 12,867,351 3065,286 4571,414 3223,278 2734,560 9079,425 2198,183 1137,288 2233,423 1999,054 5849,304_ CAPITAL ACCOUNTS 51,788,939 Conting. liab. on acceptances purchased for foreign correspondents 32,674 1,929 2/9,326 2,354 2,976 1,668 1,439 4,578 1,243 817 1,243 1,668 3,433 2,128 Industrial loan commit. 2,504 61 304 11 FEDERAL RESERVE AGENTS' ACCOUNTS 1663,loi~ 6,290,670"1899,252 2586,044 2085,903 1441,200 5273,049 1287,462 579,719 1073,767 748,126 2787,394 F. R. notes outstanding ,27,715,887 Collat. 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 186,872 27*975 — 43,528 — 28,195 •" — 3,475 42,475 41,224 U, S. Govt, securities 17,135,000 1200 z 0 0 — 0 * 3,600,000 1200 , 0 0 • 0 • 1 • 5 5 - 0 , • 0 1 0 0 — ~ 13 ~ 0 ~ 0 , : 0 0 r 0 rr r 1000,000 3000,0 0 z 0 m 9 7 1 % 0 % , r 0 ^ 0 r 0 - 500,000 85 0 V , -T 0 ^z 0 - 0 io o . ) 5 , 2 q 5 a , q 0 0 n 0 n n 1 5 o 0 n 0 n , n 0 0 n 0 n n 1867,975 6'470,000 1968,528 2620,000 2173,195 1500,000 5400,000 1363,475 692,475 1171,224 808,000 3000,000 Total collateral 29,034,872 1/ After deducting $259,182,000 participations of other Federal Reserve Banks. 2/ After deducting $23,348,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis