H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM February 2, 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 February 1 decreased $183 million to $18,834 million. Estimated required reserves decreased $139 million; and estimated excess reserves decreased $44 million to $444 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $555 million, compared with $326 million the week before. The principal changes reducing reserves were decreases of $314 million in Federal Reserve float and $101 million in Federal Reserve holdings of U. S. Government securities, and increases of $79 million in Treasury deposits with Federal Reserve Banks and $25 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $185 million in member bank borrowings, and decreases of $138 million in money in circulation and $19 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $232 million. As of Wednesday, February 1, holdings of U. S. Government securities bought outright were $39 million lower than a week earlier and member bank borrowings were $87 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending, and related items FFeebb.. 11,, 11995566 Jan, 25, 1956 Feb, 2. 1955 (][n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--Sys tem account 23,414 -103 -430 Held under repurchase agreement 2 + 2 - 6 Acceptances—bought outright 18 - 2 +18 Loans, discounts, and advances-- Member bank borrowings 999 +185 +598 Other 1 -122 Float 8l4 -314 Total Reserve Bank credit 25,240 -232 Gold stock 21,693 + 1 - 21 Treasury currency outstanding 5,016-0^ + 1 + 22 5& ^230 4Z0S Money in circulation 30,223 -138 Treasury cash holdings 798 + 5 - 36 Treasury deposits with F. R. Banks 464 + 79 + 33 Foreign deposits with F. R. Banks 369 - 19 - 72 Other deposits with F. R. Banks 343 + 25 - 76 Other F. R. accounts (net) 919 337US +3§ Member bank reserves— 18,834 -183 -118 Required reserves (estimated) 18,390 -139 + 29 Excess reserves (estimated) 444 - 44 -147 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANK COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,693 Treasury cash holdings 798 Treasury currency outstanding 5,010 Member bank) - Required (est.) 18,388 Money in circulation 30,196 reserves ) - Excess (est.) 507 On February 1, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,721 million, an increase of $41 million for the week and an increase Of $837 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 Feb. 1, Jan, 25, Feb. 2, 1956 1956 1955 A S S E TS Gold certificates 20,156,352 5,001 17,750 Redemption fund for F. R. notes 859,120 ,4,677 Total gold certificate reserves 21,015,472 22,427 F, R. notes of other Banks 384,962 36,340 172,283 Other cash 456,251 + 6,6l6 14,112 Discounts and advances 933,702 + 86,823 253,473 Industrial loans 674 + 18 + 97 Acceptances--bought outright 18,008 l,6lk + 18,008 U. S. Government securities: Bought outright— Bills 580,500 38,500 - 600,144 Certificates 5,920,699 -7,961,642 Notes 14,165,913 +8,128,642 Bonds 2,801,750 Total bought outright 23,468,862 - 38,500 - 433,144 Held under repurchase agreement - 24,000 Total U, S. Government securities r 38*500. - 457,144 Total loans and securities 24,421,246 + 46,727 - 185,566 Due from foreign banks 22 Uncollected cash items 4,487,000 - 126,658 + 597,685 Bank premises 62,014 51 + 6,697 Other assets 201,102 + 7,657 + 31*137 TOTAL ASSETS 51,020,069 - 98.751 + 585,697 L I A B I L I T I ES Federal Reserve notes *" 26,148,313 56,883 + 538,354 Deposits: Member bank reserves 18,895,074 + 179,706 - 204,036 U. S. Treasurer--general account 397,840 - 63,513 - 105,018 Foreign 359,937 - 36,537 - 58,950 Other 354,320 + 7,424 - 100,321 Total deposits 20,007,171 + 87,000 - 460,325 Deferred availability cash items 3,691,175 - 136,299 + 457,092 Other liabilities and accrued dividends . 12,733 T 359 1,685 TOTAL LIABILITIES z 49,859,392 -106,461 + 525,436 C A P I T AL A C C O U N TS Capital paid in 305,459 538 + 14,925 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 142,063 + 12,625 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,020,069 " 9 B# + 585,697 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5# .v% Contingent liability on acceptances purchased for foreign correspondents 874 9,465 Industrial loan commitments 3f :^ _32_ 70S MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 1, 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 926,706 1 6,675 218,500 16 days to 90 days 6,996 14 11,333 5,374,000 91 days to 1 year 568 13,860,764 Over 1 year to 5 years 91 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRTAoSEtRa l 933,702 ~GW 18,008 23,460,062 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 1, 1956 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 20,156,352 949,807 5,436,013 1168,582 1783,712 1246,362 864,641 3591,858 892,708 344,457 801,809 675,893 2400,510 Redemption fund for F. R. notes 859,120 53,083 178,912 60,911 77,499 69,585 53,340 115544,,338833 44,309 2233,,665588 4411,,557788 2266,,778833 75,079 Total gold certificate reserves 21,015,472 1002,890 5,614,925 1229,493 1861,211 1315,947 917,981 3746,241 937,01? 368,115 843,38? 702,676 2475,589 F.R. notes of other Banks 384,962 23,237 90,878 29,284 17,818 43,688 62,197 26,145 11,101 11,52? 7,741 20,720 40,626 Other cash 456,251 33,278 101,133 28,336 33,781 28,763 36,648 71,859 21,637 11,149 16,865 17,360 55,442 Discounts and advances 933,702 75,550 153,200 42,680 56,480 54,536 43,420 272,830 27,050 28,100 40,266 39,140 100,450 Industrial loans 6?4 -- — 616 — — 58 -- Acceptances— Bought outright 18,008 1188,,000088 - - -- -- - - " -- U. S. Govt, securities: Bought outright— Bills 580,500 32,057 147,531 35,331 4499,,888899 3344,,220000 2299,,996644 101,254 2244,,009900 1144,,006677 2255,,2244?? 23,277 6633,,559933 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 1551,84? 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 23,468,862 1 I 5,964,494 1428,362 2016,984 1382,645 1211,416 4093,603 973,911 568,721 1020,661 941,054 2570,96? Held under repurchase agreement Total U. S. Govt, sees. 23,468,862 1296,044 5,964,494 1428,362 2016,984 1382,645 1211,4l6 4093,603 973,911 568,721 1020,661 941,054 2570,96? Total loans & securities 24,421,246 1371,594 6,135,702 1471,658 2073,464 1437,181 1254,836 4366,433 1000,961 596,879 1060,927 980,194 2671,417 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 1 11 2 Uncollected cash items 4,487,000 340,153 842,266 274,436 448,24? 329,792 345,199 721,975 180,165 101,282 198,655 221,631 483,199 10,262 Bank premises 62,014 5,610 7,851 5,027 6,04? 5,395 4,030 6,052 3,399 2,497 3,599 2,245 Other assets 201,102 10,671 49,544 11.851 17,362 11,733 11,176 36,312 8,093 4,760 8,550 9,357 21,693 TOTAL ASSETS 51,028,069 2787,434 12,842,305 3050,087 4457,932 3172,500 2632,068 8975,020 2162,374 1096,210 2139,725 1954,184 5758,230 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 FEBRUARY 1, 1956 2 (in thousands of dollars) Total Boston 1 New York ^Slla |Richm01ld Atlanta Chicago ^' ^ S is ^Cit^ Dalla8 Francisco L g LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,148,313 1558,331 5,950,123 1779,409 2428,604 1975,212 1340,623 5050,660 1216,549 520,548 1033,545 692,927 2601,782 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,895,074 797,910 5,448,125 890,705 1502,683 816,762 896,570 3078,784 704,940 416,175 866,016 969,081 2507,323 UUUUU»»»»»SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 397,840 20,349 83,428 24,714 29,276 26,308 24,200 56,875 20,304 28,022 19,613 27,397 37,354 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 359,937 20,650 1/110,012 25,200 31,850 17,850 15,400 49,000 13,300 8,750 13,300 17,850 36,775 354,320 2.864 274.176 10.425 2.129 3-770 9.515 2.065 7.768 Q17 2.651 962 44.016 OOOOOttttthhhhheeeeerrrrr TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,007,171 841,773 5,915,741 951,044 1565,938 864,690 938,705 3186,724 746,312 453,884 901,582 1015,290 2625,488 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,691,175 316,295 648,203 234,900 355,794 270,335 298,644 570,422 152,927 90,751 157,555 187,o4l 408,308 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 12,733 695 3,523 694 1,652 508 536 2,336 4l4 417 473 388 1,097 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,859,392 2717,094 12,517,590 2966,047 4351,988 3110,745 2578,508 8810,142 2116,202 1065,600 2093,155 1895,646 5636,675 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 305,459 16,207 89,687 19,967 29,641 13,992 13,905 40,876 10,637 6,947 12,410 16,680 34,510 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 33,84? 71,275 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o 142,063 9.455 31,882 10,093 12,734 9.402 8,052 20,679 7.365 5.004 7.06l 6.704 11.610 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,028,069 2787,434 12,842,305 3050,087 4457,932 3172,500 2632,068 8975,020 2162,374 1096,210 2139,725 1954,184 5758,230 CCCCCooooonnnnntttttiiiiinnnnnggggg,,,,, llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 32,853 1,929 2/9,505 2,354 2,976 1,668 1,439 4,578 1,243 817 1,243 1,668 3,433 2,488 67 282 11 -- -- -- -- 2,128 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,498,708 1653,233 6,272,229 1886,042 2565,060 2057,174 I4l6,l44 5233,24? 1278,512 576,588 1064,180 738,822 2757,477 CCoollllaatt.. ffoorr FF.. RR«« nnootteess:: GGoolldd cceerrttiiffiiccaatteess 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 EElliiggiibbllee ppaappeerr 224,284 75,550 — 42,680 — 10,638 — — 27,050 28,100 40,266 1200,000 1,600,000 1200,000 1550.000 1250.000 1000.000 1000.000 900.000 500.000 800.000 525.000 1500.J30Q. UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,025,000 1915.550 6.470.000 1967.680 2620.000 2105.6l8 1500.000 5400,000 1177.050 678.100 1120.266 808.000 1000.jm TToottaall ccoollllaatteerraall 28.062.28k l/ After deducting $249,9' 30,000 participations of other Federal Reserve Banks* 2/ After deducting $23,3' to*000 participations of other Federal Reserve Banks* Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis