H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM February 16, 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 15 decreased $80 million to $18,693 million. Estimated required reserves decreased $107 million; and estimated excess reserves increased $27 million to $500 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $473 million, compared with $349 million the week before. The principal changes reducing reserves were a decrease of $74 million in Federal Reserve holdings of U. S. Government securities, and increases of $69 million in "other" deposits with Federal Reserve Banks, $28 million in money in circulation, $22 million in Treasury deposits with Federal Reserve Banks, and $12 million in foreign deposits with Federal Reserve Banks. The principal offsetting change was an increase of $151 million in member bank borrowings. Total Reserve Bank credit increased $70 million. As of Wednesday, February 15, holdings of U. S. Government securities bought outright were $99 million lower than a week earlier and member bank borrowings were $150 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Feb. 15, 1956 Feb. 8,'1956 Feb. 16, 1955 (]E n millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought 0utright--System account 23,349 - lb -478 Held under repurchase agreement «•» - 81 Acceptances--bought outright 16 - 2 + 16 Loans, discounts, and advancee-- Member bank borrowings 973 +151 +706 Other 4 + 3 -116 Float 832 - 8 +l64 Total Reserve Bank credit 25,174 + 70 +210 Gold stock 21,694 + 1 - 21 Treasury currency outstanding 5,010 — a» + 21 51,377 + 70 +209 Money in circulation 30,247 + 28 +465 Treasury cash holdings 800 + 4 - 24 Treasury deposits with F. R. Banks 428 + 22 + 29 Foreign deposits with F. R. Banks 377 + 12 -109 Other deposits with F. R. Banks 400 + 69 - 58 Other F. R. accounts (net) 932 + 15 + 19 33,185 +151 +322 Member bank reserves-- 18,693 - 80 -113 Required reserves (estimated) iS~l93 -107 b3 - Excess reserves (estimated) 500 + 27 - 70 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 21,694 Treasury cash holdings 804 Treasury currency outstanding 5,010 Member bank) - Required (est.) 18,207 Money in circulation 30,224 reserves ) - Excess (est.) 598 On February 15, 1956, U. S. Government securities held in custody by the Federal Reserve B«nks for foreign account were $3,775 million, an increase of $37 million for the week and an increase of $797 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since 16, Feb. 15, Feb. 8, Feb. .1251 A S S E TS Gold certificates 20,156,352 1 - 17,750 1,786 6,165 Redemption fund for F. R. notes . MiTTf. • 1,707 Total gold certificate reserves 21,011,124 - 23,915 F. R. notes of other Banks r*~ 339,907 20,642 + 124,875 Other cash 434,293 10,109 20,800 451,603 Discounts and advances 986,817 160,155 + Industrial loans 674 30 + 157 Acceptances—bought outright 15,484 994 + 15,484 U. S. Government securities: Bought outright-- 98,500 457,200 - 553,444 Bills Certificates 5,920,699 -4,039,442 Notes 14,165,913 +4,206,442 Bonds 2,801,750 Total bought outright 23,345,562 96,500 - 306,444 Held under repurchase agreement Total U. S. Government securities 23.345^562 98,500 - 306,444 Total loans and securities 24,348,537 + 60,691 + 80,800 Due from foreign banks 22 Uncollected cash items 5,243,795 +1,308,188 + 493,174 Bank premises 62,952 + 928 + 7,406 Other assets 110,203 - 101,148 9,233 TOTAL ASSETS +1.2&.1S1 + 652,307 L I A B I L I T I ES Federal Reserve notes 26,109,001 12,788 + 535,437 Deposits: Member bank reserves 18,804,877 130,301 - 98,162 U. S. Treasurer--general account 440,413 134,965 - 54,212 Foreign 379,245 10,037 - 48,355 Other 318,685 3,619 - 99,918 Total deposits 19,9k3,26o + 270,922 - 300'647 + 961,009 Deferred availability cash items 4,299,293 + 351,571 Other liabilities and accrued dividends + 238 + 44 TOTAL LIABILITIES 50,365,605 +1,227,301 + 506,405 C A P I T AL A C C O U N TS Capital paid in 307,642 1,567 + 15»525 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 156,431 t +_ 17,666 TOTAL LIABILITIES AND CAPITAL ACCOUNTS +1.236.121 + 652,307 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.6# • 3# Contingent liability on acceptances purchased 30,494 for foreign correspondents 1,353 2,477 40 5,768 Industrial loan commitments MATURITY DISTRIBUTION OF LOANS AND SECURITIES. FEBRUARY 15, 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 ' 6,650 146,000 Within 15 days 981,491 16 days to 90 days 5,326 15 8,834 5,323,200 13,860,764 91 days to 1 year 567 Over 1 year to 5 years 92 1,587,127 1,013,614 Over 5 years to 10 years 1,414,857 Over 10 years Total 986,817 674 15,404 23,343,562— 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 15, 1956 (in thousands of dollars) Phila- Cleve- St. Minne- Kansas ~ , San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas 1Francisco A S S E TS Gold certificates 20,156,352 918,006 5,150,872 1187,075 1785,441 1245,646 878,409 3601,349 888,163 339,198 861,518 683,975 2616,700 Redemption fund for F. R. notes 854,772 52,805 178.011 60,484 77,109 68,367 53,134 153,989 44,199 23.614 41,488 26,704 74,868 Total gold certificate 21,011,124 970,811 5,328,883 1247,559 1862,550 1314,013 931,543 3755,338 932,362 362,812 903,006 710,679 2691,568 reserves 339,907 15,049 67,075 21,050 15,118 37,917 68,102 22,192 11,154 6,130 8,085 16,273 31,762 F.R. notes of other Banks 434,293 31,840 99,273 27,037 32,093 25,118 33,828 71,349 21,436 9,421 15,313 15,137 52,448 Other cash 986,817 32,565 315,190 37,730 50,896 26,160 24,615 365,515 26,530 22,879 39,727 23,260 21,750 Discounts and advances 617 57 Industrial loans 674 - - — -- —— " -** Acceptances— 15,484 15,484 Bought outright U. S. Govt, securities: Bought outright— 457,20d 25,248 116,195 27,827 39,293 26,935 23,599 79,747 18,973 11,079 19,885 18,333 50,086 Bills 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 Certificates 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 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 Bonds Total 23^3^5i562|l289i235 5,933,150 1420,658 2006,388 1375,380 1205,051 4072,096 968,794 565,733 1015,299 936,110 2557,460 Held under repurchase agreement 23,345,5621289,235 5,933,158 1420,858 2006,388 1375,380 1205,051 4072,096 968,794 565,733 1015,299 936,110 2557,460 Total U. S. Govt, sees. 24,348,537021,800 6,263,832 1459,205 2057,284 1401,540 1229,666 4437,611 995,324 588,669 1055,026 959,370 2579,210 Total loans & securities Due from foreign banks 22 1 1/6 2 2 1 13 1 1 11 2 Uncollected cash items 5,243,795 363,844 1,068,455 312,479 520,183 389,550 384,374 904,140 211,970 123,946 255,220 223,279 486,355 Bank premises 62,952 5,610 7,969 5,027 6,144 5,601 4,030 6,055 3,399 2,827 3,632 2,316 10,342 Other assets 110,203 5,761 26,180 6.309 9,302 6,403 6,496 20,459 4.308 2.559 4,562 5,918 11,946 51,550,833(2714,716 12,881,673 3078,668 4502,676 3180,143 2658,040 9217,147 2179,954 1096,365 2244,845 1932,973 5863,633 TOTAL ASSETS Xf After deducting $16,000 participations of other Federal Reserve Banks Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 15, 1956 Total Boston New York ^and* Richm°nd Atlanta ChlcaS° Louis S ^ty* Dallas FranSsco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,109,001 1553,162 5,944,327 1775,904 2427,154 1966,948 1334,090 5057,123 1210,269 516,994 1030,370 687,535 2605,125 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,804,877 716,414 5,316,254 862,143 1506,527 772,795 917,055 3130,237 704,035 415,071 925,345 938,121 2600,880 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 440,413 23,254 54,087 33,408 32,484 32,396 23,822 83,768 22,704 16,782 35,859 42,815 39,034 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 379,245 21,889 1/114,326 26,712 33,761 18,921 16,324 51,940 14,098 9,275 14,098 18,921 38,980 OOOOOttttthhhhheeeeerrrrr 318,685 3,728 239,621 9,756 1,112 2,498 1,453 951 10,771 742 2,890 1,110 44,053 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,943,220 765,285 5,724,288 932,019 1573,884 826,610 958,654 3266,896 751,608 441,870 978,192 1000,967 2722,947 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,299,293 324,444 879,332 285,024 393,030 323,440 310,327 722,434 170,863 106,144 188,503 184,512 411,240 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 14,091 703 4,332 785 1,382 587 638 2,479 438 398 512 645 1,192 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,365,605 2643,594 12,552,279 2993,732 4395,450 3117,585 2603,709 9048,932 2133,178 1065,406 2197,577 1873,659 5740,504 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 307,642 16,258 90,512 19,985 29,697 14,022 13,990 41,530 10,749 6,959 12,488 16,913 34,539 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 156,431 10,186 35,736 10,971 13,960 10,175 8,738 23,362 7,857 5,341 7,683 7,247 15,175 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,550,833 2714,716 12,881,673 3078,668 4502,676 3180,143 2658,040 9217,147 2179,954 1096,365 2244,845 1932,973 5863,633 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb,,,,, ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 30,494 1,788 2/8,860 2,182 2,757 1,545 1,333 4,242 1,151 758 1,151 1,545 3,182 -- -- 66 272 11 -- — -- — 2,128 -- IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,477 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,320,344 1643,882 6,232,575 1875,026 2551,504 2042,869 1400,751 5196,415 1272,955 573,398 1056,689 732,820 2741,460 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 31,975 -- 37,010 -- -- -- — 26,150 22,629 39,347 EElliiggiibbllee ppaappeerr 157,111 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,025,000 TToottaall ccoollllaatteerraall 28,895,111 1871,975 6,470,000 1962,010 2620.000 2095,000 1500,000 5400,000 1376,150 672,629 1119,347 808,000 3000,000 l/ After deducting $264,894,000 participations of other Federal Reserve Banks. 2/ After deducting $21,634,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis