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 9, 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 8 decreased $6l million to $18,773 million. Estimated required reserves decreased $90 million; and estimated excess reserves increased $29 million to $473 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $3^9 million, compared with $555 million the week before. The principal change reducing reserves was a decrease of $177 million in member bank borrowings. The principal offsetting changes were decreases of $58 million in Treasury deposits with Federal Reserve Banks and $12 million in "other" deposits with Federal Reserve Banks, and an increase of $26 million in Federal Reserve float. Total Reserve Bank credit decreased $144 million. As of Wednesday, February 8, holdings of U. S. Government securities bought outright were $25 million lower than a week earlier and member bank borrowings were $107 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items FFeebb.. 88,, 11995566 Feb. 1, 1956 Feb. 9, 1955 (] Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,423 + 9 -479 Held under repurchase agreement — 2 -Ilk Acceptances--bought outright 18 -- + 18 Loans, discounts, and advances-- Member bank borrowings 822 -177 +387 Other 1 -- -120 Float 840 + 26 +200 Total Reserve Bank credit 25,10% -144 -108 Gold stock 21,693 -- - 22 Treasury currency outstanding 5,010 -- +22 517B07 -143 -108 Money in circulation 30,219 - 4 +425 Treasury cash holdings 796 - 2 - 31 Treasury deposits with F. R. Banks 406 - 58 - 66 Foreign deposits with F. R. Banks 365 - 4 - 82 Other deposits with F. R. Banks 331 - 12 -149 Other F. R. accounts (net) 917 - 2 +22 33,03% ^~B2 +119 Member bank reserves-- 18,773 - 6l -227 Required reserves (estimated) 15,300 - 90 + 28 Excess reserves (estimated) 473 + 29 -255 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 21,693 Treasury cash holdings 802 Treasury currency outstanding 5,009 Member bank) - Required (est.) 18,272 Money in circulation 30,205 reserves ) - Excess (est.) 403 On February 8, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,738 million, an increase of $17 million for the week and an increase of $872 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. 8, Feb. 1, Feb. 9, _ ! 2 5 £_ 1956 1955 A S S E TS Gold certificates 20,156,353 17,750 Redemption fund for F. R. notes 856,558 Total gold certificate reserves 21,012,911 -m F.~R. notes of other Banks 360,549 24,413 147,709 Other cash 444,402 11,849 15,274 Discounts and advances 826,662 107,040 + 491,607 Industrial loans 644 30 + 123 Acceptances--bought outright 16,478 1,530 + 16,478 U. S. Government securities: Bought outright-- Bills 555,700 24,800 - 624,944 Certificates 5,920,699 -7,961,642 Notes 14,165,913 +8,128,642 Bonds Total bought outright 23^444,062 • • 24,800 - 457,944 Held under repurchase agreement — «• • — - - 114,000 Total U. S. Government securities 23,444,062 - - 24,800 - 571,944 Total loans and securities 24,287,846 - 133,400 - 63,736 Due from foreign banks 22 Uncollected cash items 3,935,607 - 551,393 + 300,918 Bank premises 62,024 + 10 + 6,618 Other assets 211,351 + 10,249 + 34,417 TOTAL ASSETS 50,314,712 -713,357 + 368!188 L I A B I L I T I ES Federal Reserve notes 26,121,789 26,524 + 508,107 Deposits: Member bank reserves 18,674,576 - 220,498 - 163,670 U. S. Treasurer--general account 305,448 - 92,392 1,263 Foreign 369,208 + 9,271 - 101,358 Other 315,066 - 39,254 - 142,150 Total deposits 19,664,298 - 342,873 - 408,441 Deferred availability cash items 3,338,284 - 352,891 + 225,470 Other liabilities and accrued dividends 13,853 + 1,120 + ^4 TOTAL LIABILITIES 49,130,224 - 721,16# + 325,170 C A P I T AL A C C O U N TS Capital paid in 306,075 6l6 + 15,074 Surplus (Section 7) 693,612 + 32,711 Surplus (Section ljb) 27,543 Other capital accounts 149,258 7,195 + 15,233 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,314,712 - 713,357 + 388:188 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9# .1$ Contingent liability on acceptances purchased for foreign correspondents 31,847 1,006 8,005 Industrial loan commitments ______ 2,517 29 725 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 8, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) X Discounts and Industrial U. S. Government advances loans Acceepptt ances securities Within 15 days 819,536 1 "67732 107,500 16 days to 90 days 7,126 14 9,746 5,460,200 91 days to 1 year 538 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 1,4l4,857 Total 826,662 644 16,478 23,444,062 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 8, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City DDaallllaass Francisco A S S E TS Gold certificates 20,156,353 964,281 5,287,223 1152,295 1745,877 1274,582 890,866 3626,793 886,677 329,440 812,631 690,279 2495,409 Redemption fund for F. R. notes 856,558 52,925 178,369 60,667 77,282 68,828 53,220 154,160 44,242 23,637 41,526 26,736 74,966 Total gold certificate reserves 21,012,911 1017,206 5,465,592 1212,962 1823,159 1343,410 944,086 3780,953 930,919 353,077 854,157 717,015 2570,375 F.R. notes of other Banks 360,549 17,606 83,274 26,391 14,864 41,897 62,514 26,011 10,892 9,527 6,519 19,863 36,191 Other cash 444,402 33,370 104,915 25,044 34,843 27,033 31,438 71,157 20,965 9,708 15,620 17,180 53,129 Discounts and advances 826,662 16,130 229,145 56,630 90,211 45,554 45,420 188,765 10,700 32,250 33,157 36,250 42,450 Industrial loans 644 566 58 Acceptances— Bought outright 16,478 16,478 U», S. Govt, securities: Bought outright-- Bills 555,700 30,688 141,228 33,822 47,758 32,738 28,684 96,928 23,061 13,466 24,168 22,283 60,876 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 23,444,062 1294,675 5,958,191 1426,853 2014,053 1361,183 1210,136 4089,277 972,882 568,120 1019,582 940,060 256ti,250 Held under repurchase agreement Total U. S. Govt, sees. 23,444,062 1294,675 5,958,191 1426,853 2014,853 1381,183 1210,136 4089,277 972,882 568,120 1019,582 940,060 2568,250 Total loans & securities 24,287,846 1310,805 6,203,814 1484,069 2105,064 1426,737 1255,556 4278,042 983,582 600,428 1052,739 976,310 2610,700 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 1 12 Uncollected cash items 3,935,607 321,075 686,388 234,226 350,320 318,645 320,047 634,022 168,162 103,069 189,072 183,635 426,946 Bank premises 62,024 5,610 7,851 5,027 6,055 5,395 4,030 6,052 3,399 2,497 3,600 2,246 10,262 Other assets 211,351 11,614 52,014 12,522 18,024 12,375 11,630 37,974 8,455 4,976 8,923 9,760 23,084 TOTAL ASSETS 50,314,712 2717,287 12,608,854 3000,243 4352,331 3175,493 2629,302 8834,214 2126,375 1083,283 2130,631 1926,010 5730,689 1/ 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 8, 1956 (In thousanda of dollars) Total Boston New York C\™~ | Richmond Atlanta Chicago ^ouL Dallaa Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,121,789 1553,783 5,941,123 1775,833 2422,719 1974,197 1337,467 5052,601 1213,092 519,765 1031,495 690,675 2609,039 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,674,576 759,102 5,412,712 885,141 1442,80? 817,636 909,590 2993,931 686,377 412,421 655,611 966,513 2532,735 UUUUU«««««SSSSS,,,,,TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 305,448 24,064 56,767 13,629 30,159 27,162 23,970 45,159 12,312 19,412 22,167 22,856 7,791 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 369,208 21,712 1/106,431 26,496 33,488 18,768 16,192 51,520 13,984 9,200 13,984 18,768 38,665 OOOOOttttthhhhheeeeerrrrr 315,066 2,816 " 236,303 9,542 1,301 2,839 2,294 1,313 8,674 1,251 2,935 1,173 44,625 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,664,298 807,694 5,812,213 934,808 1507,755 866,405 952,046 3091,923 721,347 442,284 894,697 1009,310 2623,816 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,338,284 284,415 525,113 204,373 313,641 272,044 285,193 521,032 144,946 90,016 156,888 166,503 374,120 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 13,853 668 3,775 735 1,633 688 672 2,386 476 433 535 521 1,331 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,138,224 2646,560 12,282,224 2915,749 4245,748 3113,334 2575,378 8667,942 2079,861 1052,498 2083,615 1867,009 5608,306 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 306,075 16,246 89,732 19,985 29,671 14,012 13,926 40,926 10,722 6,949 12,476 16,873 34,557 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))))) 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 149,258 9,803 33,752 10,529 13,343 9,786 8,395 22,023 7,622 5,177 7,443 6,974 14,411 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 50,314,712 2717,287 12,608,854 3000,243 4352,331 3175,493 2629,302 8834,214 2126,375 1083,283 2130,631 1926,010 5730,689 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 31,847 1,847 2/9,499 2,254 2,848 1,596 1,377 4,382 1,189 783 1,189 1,596 3,287 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2.517 96 282 11 — — — — 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,384,675 1642,589 6,244,672 1880,964 2558,360 2048,104 1404,542 5209,846 1277,973 575,206 1058,855 736,328 2747,236 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 150,663 16,130 — 56,630 — 1,796 — — 10,700 32,250 33,157 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,025,000 1200,000 3,600,000 1200.000 1550,000 1250.000 1000,000 3000,000 900,000 500.000 800.000 525.000 1500.000 TToottaall ccoollllaatteerraall 28.888,663 1856,130 6,470,000 1981,630 2620,000 2096,796 1500,000 5400,000 1360,700 682,250 1113,157 808.000 3000.000. 1/ After deducting $262,752,000 participations of other Federal Reserve Banks. 2/ After deducting $22,348,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis