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 23, 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 22 increased $$6 million to $10,749 million. Estimated required reserves increased $44 million; and estimated excess reserves increased $12 million to $555 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $87 million, compared with $450 millio nthe week before. The principal changes supplying reserves were an unusually large increase of $501 million in Federal Reserve float and an increase of $40 million in Federal Reserve holdings of U. S. Government securities, and decreases of $37 million in money in circulation, $34 million in "other" deposits with Federal Reserve Banks, and $15 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $351 million in member bank borrowings, and increases of $129 million in Treasury deposits with Federal Reserve Banks and $94 million in "other" F. R. account s(net). Total Reserve Bank credit increased $186 million. As of Wednesday, February 22, holdings of U. S. Government securities bought outright were $7 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $28 million higher, and member bank borrowings were $343 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items FFeebb.. 2222,, 11995566 Feb. 15, 1956 Feb. 23, 1955 (]En millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,333 - l6 -399 Held under repurchase agreement 56 + 56 + 56 Acceptances—bought outright 16 mm mm + 16 Loans, discounts, and advances — Member bank borrowings 622 -351 +349 Other 1 - 3 -122 Float 1,333 +501 +529 Total Reserve Bank credit 25,360 +106 +428 Gold stock 21,694 — — - 22 Treasury currency outstanding 5,011 + 1 + 21 52,065 +188 +428 Money in circulation 30,210 - 37 +439 Treasury cash holdings 794 - 6 - 31 Treasury deposits with F. R. Banks 557 +129 + 67 Foreign deposits with F. R. Banks 362 - 15 — 28 Other deposits with F. R. Banks 366 - 34 -120 Other F. R. accounts (net) 1,026 + 94 + 67 33,316 +131 +395 Member bank reserves- 18,749 + 56 + 33 Required reserves (estimated) 18,214 + 44 +106 Excess reserves (estimated) 535 + 12 - 73 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 21,695 Treasury cash holdings 795 Treasury currency outstanding 5 012 Member bank) - Required (est.) ]_Q 154 Money in circulation 30*206 reserves ) - Excess (est.) '235 On February 22, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,770 million, a decrease of $5 million for the week and an increase of $804 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Feb. 22, Feb. 15, Feb. 23, 1956 1956 1955 A S S E TS Gold certificates 20,156,352 17,750 Redemption fund for F. R, notes 854,772 - 2,995 Total gold certificate reserves 21,011,124 • - - 20,745 F. R. notes of other Banks 333,814 - 6,093 + 137,517 Other cash 441,355 + 7,062 + 1,607 Discounts and advances 634,316 - 352,501 + 242,778 Industrial loans 655 - 19 + 225 Acceptances—bought outright 14,984 - 500 + 14,984 U. S. Government securities: Bought outright— Bills 450,200 7,000 560,444 Certificates 5,920,699 -- -4, 039,442 Notes 14,165,913 - - +4,206,442 Bonds 2,801,750 Total bought outright 23,338,562 - 7,000 - 393,444 Held under repurchase agreement 27,900 + 27,900 + 27,900 Total U. S. Government securities 23,366,462 + 20,900 - 365,544 Total loans and securities 24,016,417 - 332,120 107,557 Due from foreign banks 22 — — • - Uncollected cash items 5,071,575 w 172,220 +1,200,625 Bank premises 62,912 • 40 + 7,412 Other assets 117,836 + 7,633 - 7,500 TOTAL ASSETS 51,055,055 — 495,770 +1,211,359 - L I A B I L I T I ES Federal Reserve notes 26,079,985 - 29,016 + 498,117 Deposits: Member bank reserves 18,389,171 • 415,706 90,287 U. S. Treasurer--general account 560,935 + 120,522 + 7,072 Foreign 364,983 - 14,262 + 36,004 Other 674,733 + 356,048 + 242,985 Total deposits 19,989,022 + 46,602 + 195,774 . Deferred availability cash items 3,779,216 520,077 + 452,017 Other liabilities and accrued dividends 14,252 + 161 - 1,639 TOTAL LIABILITIES 49,863,275 - 502,330 +1,144,269 C A P I T AL A C C O U N TS Capital paid in 308,091 + 449 + 14,889 Surplus (Section 7) 693,612 - w + 32,711 Surplus (Section 13b) 27,543 - - Other capital accounts 162,534 + , 6,103 + 19,490 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,055,055 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.6# Contingent liability on acceptances purchased for foreign correspondents 32,813 + 2,319 6,912 Industrial loan commitments 2,496 + 19 834 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 22, 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 628,684 57971i 181,700 16 days to 90 days 5,632 15 10,010 5,308,400 91 days to 1 year 550 13,860,764 Over 1 year to 5 years 90 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRATSoEtRa l 634,316 "555 14,904 %j,j66,46z http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON FEBRUARY 22, 1956 Phila- I Cleve- St. | Minne- Kansas San Total Boston New York delphia | land Richmond Atlanta Chicago Louis 1 apolis City Dallas Francisco A S S E TS Gold certificates 20,156,352 998,183 5,157,245 1141,428 1831,713 1264,941 924,277 3587,215 875,535 320,270 850,009 713,398 2492,138 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 reserves 21,011,124 1050,988 5,335,256 1201,912 1908,822 1333,308 977,411 3741,204 919,734 343,884 891,497 740,102 2567,006 F,R. notes of other Banks 333,814 12,892 80,081 22,978 13,993 31,585 74,924 21,038 10,542 6,749 5,564 20,635 32,833 Other cash 441,355 30,529 103,077 26,209 32,804 24,823 32,765 69,822 23,215 8,818 16,497 18,888 53,908 Discounts and advances 634,316 24,370 106,060 26,930 47,286 48,540 23,325 184,545 12,850 38,300 48,010 44,400 29,700 Industrial loans 655 598 57 Acceptances— Bought outright 14,984 14,984 ww ww -- «»W WW WW -- WW WW U. S. Govt, securities: Bought outright— Bills 450,200 24,862 114,4l6 27,400 38,691 26,523 23,238 78,526 18,683 10,909 19,580 18,053 49,319 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 23,338,562 1288:849 5,931,379 1420,431 2005,796 1374,96b 1204,69 04070,075 968,504 565,563 1014,994 935,830 2556,693 Held under repurchase agreement 27,900 27,900 mm w w WW WW WW — — w — WW WW Total U. S. Govt, sees. 23,366,462 1288,849 5,959,279 1420,431 2005,786 1374,968 1204,690 4070,875 968,504 565,563 1014,994 935,830 2556,693 Total loans & securities 24,016,417 1313,219 6,080,323 1447,959 2053,072 1423,508 1228,015 4255,420 981,354 603,920 1063,004 980,230 2586,393 Due from foreign hanks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,071,575 374,293 916,206 314,657 451,295 387,773 484,123 770,810 203,023 140,389 245,988 285,912 497,106 Bank premises 62,912 5,579 7,969 5,027 6,136 5,601 4,029 6,055 3,399 2,827 3,632 2,316 10,342 Other assets 117,836 6.164 28,034 6,781 10,061 6,808 6,925 21,710 4,608 2,757 .... tow 6,244 12,831 TOTAL ASSETS 51,055,055 2793,665 12,550,952 3025,525 4476,185 3213,407 2808,193 8886,062 2145,876 1109,345 2231,09 62054,328 5760,421 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 BAN KON FEBRUAR Y22, 1956 (in thousands of dollars) Total Boston New York j Richmond Atlanta Chicago ^ | Spoils City | DallaB |Francisco - L s LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS 1555,331 5,950,383 1776,862 2425,773 1961,655 1322,801 5061,011 1205,687 515,315 1026,222 683,352 2595,593 FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,079,985 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 762,573 5,176,424 859,784 1476,101 802,951 916,621 3020,883 676,883 401,696 869,408 943,501 2482,346 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,389,171 35,316 93,293 33,854 51,983 41,183 59,350 58,364 32,473 20,499 40,456 43,300 50,864 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 560,935 21,299 1/107,204 25,992 32,851 18,411 15,884 50,5%) 13,718 9,025 13,718 l&,4ll 37,930 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 364,983 1I008 " 226.419 9.929 894 1.929 134.838 475 27.930 35.354 47,350 101,965 84,622 OOOOOttttthhhhheeeeerrrrr 674,733 822,196 5,603,360 929,559 1561,829 864,474 1126,693 3130,262 751,004 466,574 970,932 1107,177 2655,762 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,989,822 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 344,086 661,826 233,082 379,353 323,701 303,363 523,029 141,698 95,834 185,782 203,505 383,957 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,779,216 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 704 4.155 722 1,472 629 715 2,305 484 494 548 755 1*269 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 14,252 2722,317 12,219,724 2940,225 4368,427 3150,459 2753,572 8716,607 2098,873 1078,217 2183,484 1994,789 5636,581 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,863,275 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS £8 &£? 2® &S2 #£ AS £$ &SS SS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 308,091 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 693,612 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 JI'M ii:Si ilfi 9,^ OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 162,534 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD 279^.665 12.550.952 3025,525 4476.185 3213.407 2808,193 8886.062 2145,876 1109,345 2231,096 2054,328 5760,.421, CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51.055,055 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr 1,882 2/10,036 2,297 2,903 1,627 1,404 4,466 1,212 797 1,212 1,627 3,350 fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 32,813 L - 85 272 11 - - - - 2,128 - . IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,496 1636,296 6,237,715 1874,075 2545,691 2041,110 1399,050 5187,523 1270,434 572,576 1055,029 730,113 2726,106 F. R. notes outstanding 27,275,718 Collat. for F. R. notes: 640,000 2>67C,ooo 725,000 1070,000 845,000 500,0002400,000 450,000 150,000 280,000 283,000 1500,000 Gold certificates 11,713,000 24•370 26,930 12,850 38,300 48,010 -- Eligible paper 150,460 1200.000 3,600,000 1200,000 1550.OOO 1250,000 1000,000 2900.000 900.000 500.000 800,000—52^,000 1500/00° U. S. Govt, securities 16,925,000 1864,370 6,470,000 1951.930 2620.000 2095,000 1500,000 5300,000 1362.850 688,300 1128,010 808,000 3000,000 Total collateral 28,788,460 1/ After deducting $257,754,000 participations of other Federal Reserve Banks. Dig2itiz/e d Afofr FtReArS EdRe ducting $22,777,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis