H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM January 26, 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 25 decreased $119 million to $19,017 million. Estimated required reserves decreased $1*3 million; and estimated excess reserves decreased $76 million to $492 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $322 million, compared with $352 million the week before. The principal changes reducing reserves were decreases of $287 million in Federal Reserve holdings of U. S. Government securities and $106 million in member bank borrowings, and an increase of $25 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $271 million in money in circulation and $29 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $392 million. As of Wednesday, January 25, holdings of U. S, Government securities bought outright were $182 million lower than a week earlier and member bank borrowings were $24 million higher. Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Jan. 25, 1956 Jan. 18, 1956 Jan. 26, 1955 (] tn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,517 -285 -154 Held under repurchase agreement - 2 - 12 •» — Acceptances—bought outright 20 - 1 + 20 Loans, discounts, and advances-- Member bank borrowings 8l4 -106 4489 Other 1 - 1 -128 Float 1,128 + 3 +322 Total Reserve Bank credit 25,480 -392 453B Gold stock 21,692 -- - 22 Treasury currency outstanding 5,009 + 1 + 24 52,180 -392 +539 Money in circulation 30,361 -271 4495 Treasury cash holdings 793 + 7 - 34 Treasury deposits with F. R. Banks 385 + 25 +113 Foreign deposits with F. R. Banks 388 - 29 - 34 Other deposits with F. R. Banks 318 - 3 + 38 + 18 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 919 - 1 33,165 -271 +598 Member bank reserves— 19,017 -119 - 57 Required reserves (estimated) 18,525 - 43 + 96 Excess reserves (estimated) 492 - 76 -153 For Wednesday Federal Reserve figure s see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Lates other items appearing above are, in millions of dollars: Gold stock 21,693 Treasury cash holdings 799 Treasury currency outstanding 5,009 Member bank) - Required (est.) 18,444 Money in circulation 30,225 reserves ) - Excess (est.) 271 On January 25, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,680 million, an increase of $8 million for the week and an increase of $656 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.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 Jan, 25, Jan. 1956 1956 1955 A S S E TS . Gold certificates- "* 20,151,351 1 22,75c Redemption fund for F. R. notes 860,823 - 1,924 - 2,975 Total gold certificate reserves 21,012,174 - 1,925 * 25,725 F, R. notes of other Banks 421,302 + 17,632 + 183,504 Other cash 449,635 + 28,471 12,163 • Discounts and advances 846,879 + 23,257 + 400,875 Industrial loans 656 - 26 + 174 Acceptances--bought outright 19,622 1,123 + 19,622 U. S. Government securities: Bought outright— Bills 619,000 182,200 330,744 Certificates 5,920,699 -7 ,961,642 Notes 14,165,913 - - +8,128,642 Bonds 2,801,750 Total bought outright 23,507,362 - 182,200 - 163,744 Held under repurchase agreement - •» - 3,000 Total U, S, Government securities 23,507,362 - 182,200 - 166,744 Total loans and securities 24,374,519 - 160,092 + 253,927 Due from foreign banks 22 Uncollected cash items 4,613,658 - 554,130 + 635,760 Bank premises 62,065 + 153 + 7,084 Other assets 193.445 + ,7,772 + 30,286 TOTAL ASSETS 51,126 ,'820 L I A B I L I T I ES Federal Reserve notes 26,205,196 - 201,780 + 581,198 Deposits: Member bank reserves 18,715,368 - 451,122 - 174,872 U. S. Treasurer--general account 461,353 + 172,300 + 65,696 Foreign 396,474 + 22,024 - 37,721 Other 346,896 + 36,374 + 126,602 Total deposits 19,920,091 - 220,424 - 20,295 Deferred availability cash items 3,827,474 - 246,935 + 456,485 Other liabilities and accrued dividends 13,092 796 2,383 TOTAL LIABILITIES 49,965,853 - 669,935 +1,015,005 C A P I T AL A C C O U N TS Capital paid in 304,921 586 + 14,755 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 134,891 + 7,230 + 10,202 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,126,820 - 662,119 +1,072,673 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.6# + .6$ Contingent liability on acceptances purchased for foreign correspondents 33,727 + 1,053 + 12,272 Industrial loan commitments 2,518 + , 14 - ,T7Q MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JANUARY 25, 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 840,408 >,751 262,100 16 days to 90 days 6,471 15 12,871 5,368,900 91 days to 1 year 549 13,860,764 Over 1 year to 5 years 92 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1.414.857 Total 846,879 19,622 23,507,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JANUARY 25, 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 20,151,351 952,845 5,129,975 1149,775 1785,275 1257,082 898,900 3803,296 904,337 341,095 795,510 665,024 2468,237 Redemption fund for F. R. notes 860,823 53,161 179,313 61,046 77,615 70,206 53,404 154,504 44.342 23,667 4l,6oi 26,810 75,154 Total gold certificate reserves 21,012,174 1006,006 5,309,288 1210,821 1862,890 1327,288 952,304 3957,800 948,679 364,762 837,111 691,834 2543,391 F.R. notes of other Banks 421,302 27,679 94,018 31,238 18,737 40,810 70,888 28,514 15,197 12,745 9,616 26,295 45,565 Other cash 449,635 32,523 99,462 26,601 35,981 29,578 33,681 68,567 21,730 10,513 16,851 18,913 55,235 Discounts and advances 846,879 59,315 301,235 43,035 57,780 40,395 28,678 164,555 10,925 20,735 45,286 48,290 26,650 656 598 58 Industrial loans Acceptances— Bought outright 19,622 -- 19,622 " -- -- " -- -- -- U. S. Govt, securities; Bought outright-- Bills 619,000 34,184 157,316 37,674 53,198 36,468 31,951 107,970 25,687 15,000 26,921 24,821 67,810 Certificates 5,920,699 326,965 1,504,716 360,345 508,843 348,81a 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 23,507,362 1298,171 5,974,279 1430,705 2020,293 1384,913 1213,403 4100,319 975,508 569,654 1022,335 942,598 2575,184 Held under repurchase agreement Total U. S. Govt, sees. 23,507,362 1298,171 5,974,279 1430,705 2020,293 1384,913 1213,403 4100,319 975,508 569,654 1022,335 942,598 2575,184 Total loans & securities 24,374,519 1357,486 6,295,136 1474,338 2078,073 1425,308 1242,081 4264,874 986,433 590,447 1067,621 990,888 2601,834 Due fro® foreign "banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,613,658 344,445 805,781 286,293 414,519 355,282 407,087 756,573 189,067 115,620 227,266 260,103 451,622 Bank premises 62,065 5,610 7,873 5,027 6,051 5,395 4,030 6,072 3,403 2,499 3,606 2,247 10,252 Other assets 193,445 10,194 47,422 11,238 16,435 11,205 10,897 34,792 7,684 4,640 8,364 9,266 21,308 TOTAL ASSETS 51,126,820 2783,944 12,65a,986 3045,558 4432,688 3194,867 2720,969 9117,195 2172,194 1101,227 2170;436 1999,547 5729,209 j/ 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 25# 1956 (In thousands of dollars) ________________ Total Boston New York Richmond A t l a n ta Chicago Louis aptiis ^City^ 1 DallaS 1 Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS 1570,378 5,961,436 1786,652 2438,028 1970,967 1346,206 5066,554 1218,637 522,126 1029,408 696,232 2598,572 FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,205,196 31 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: % £:$ MMMMMeeeeemmmmmbbbbbeeeeerrrrr """""bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,715,368 UUUUU„„„„„SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 461,353 17 d$ FFFFFooooorrrrreeeeeiiiiigggggnnnnn 396,474 346,896 ^ ^ 11 &S 3I :^ ^ ^ OOOOOttttthhhhheeeeerrrrr 829,901 5,737,139 944,362 1538,661 860,532 972,439 3270,734 750,993 447,610 912,619 1024,380 2630,721 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,920,091 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 313,093 634,012 230,350 349,170 301,454 348,572 6l4,26l 156,238 100,582 181,595 220,063 378,084 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,827,474 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 648 3,753 637 1.551 633 579 2,140 455 480 510 570 1,136 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 13,092 2714,020 12,336,340 2962,001 4327,410 3133,586 2667,796 8953,689 2126,323 1070,798 2124,132 1941,245 5608,513 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,965,853 | 1 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 16,203 89,618 19,944 29,594 13,880 13,863 40,819 10,6l6 6,938 12,387 16,665 34,394 CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 304,921 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 77777))))) 693,612 3 Oil 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 134,891 | 9*043 29,882 9.633 12,115 9,040 7,707 19,364 7,085 4,832 6,820 6,483 12,887 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD 2783,944 12,658,986 3045.558 4432,688 3194,867 2720,969 9117,195 2172,194 1101,227 2170,436 1999,547 5729,209.. CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,126,820 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr i 1,988 2/9,665 2,426 3,067 1,719 1,483 4,718 1,281 842 l,28l 1,719 3,538 fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 33,727 I - __ 85 294 11 -- - — — 2,128 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 1 2,518 1655,973 6,280,516 1891,988 2573,714 2073,280 1424,371 5247,400 1281,447 578,280 1069,463 742,171 2769,903 FF.. RR.. nnootteess oouuttssttaannddiinngg 27,588,506 CCoollllaatt,, ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaatteess 11,713,000 59 315 -- 43,035 -- 40,395 -- — 10,925 20,735 45,286 EElliiggiibbllee ppaappeerr 219,691 1200 000 3,600,000 1200.000 1550,000 1300,000 1000,000 3000,000 910,000 500,000 800,000 525,000 1500,000 17,085,000 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 29,017,691 1899,315 6,470,000 1968.035 2620,000 2185,395 1500,000 5400,000 1370,925 670,735 1125,286 808,000 3000,000 TToottaall ccoollllaatteerraall 1/ After deducting $281,316,000 participations of other Federal Reserve Banks. 2/ After deducting $24,062,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis