H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM March 1, 1956 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The weekly average of member ban kreserves for the week ending February 29 decreased $153 million to $18,596 million. Estimated required reserves decreased $21 million; and estimated excess reserves decreased $132 million to $403 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $355 million, compared with $87 millio nthe week before. The principal change reducing reserves was a decreas eof $453 million in Federal Reserve float. The principal offsetting changes were increases of $136 million in member ban kborrowings and $46 million in Federal Reserve holdings of U. S. Government securities, and decreases of $60 millio nin "other" deposits with Federal Reserve Banks, $30 million in money in circulation, and $15 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $271 million. As of Wednesday, February 29, holdings of U. S. Government securities bought outright were $88 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $28 million higher, and member bank borrowings were $3 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items FFeebb.. 2299,, 11995566 Feb. 22, 1956 Mar. 2, 1955 0 Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,384 + 51 -220 Held under repurchase agreement 51 - 5 + 51 Acceptances--bought outright 15 - 1 + 15 Loans, discounts, and advances— Member bank borrowings 758 +136 +375 Other 1 m m, -106 Float 880 -453 + 83 Total Reserve Bank credit 25,089 -271 +197 Gold stock 21,695 + 1 - 21 Treasury currency outstanding 5,012 + 1 + 17 51,796 -26'9 +I54 Money in circulation 30,180^ - 30 +384 Treasury cash holdings 793-'^ - 1 -34 Treasury deposits with F. R. Banks 542 - 15 - 33 Foreign deposits with F. R. Banks 354 - 8 + 30 Other deposits with F. R, Banks 306 - 60 -175 Other F. R. account s(net) 1,025 - 1 + 68 33,200 -ll6 +239 Member bank reserves-- 18,596 -153 - 46 Required reserves (estimated) 18,193 7-21 +104 Excess reserves (estimated) 403 -132 -150 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 796 Treasury currency outstanding 5,011 Member bank) - Required (est.) 18,215 Money in circulation 30,155 reserves ) - Excess (est.) 213 On February 29, 1956, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,793 million, an increase of $23 million for the week and an increase of $8l4 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. 29, Feb. 22, Mar. 2, 1956 1956 1955 A S S E TS Gold certificates 20,156,351 - 1 - 17,750 Redemption fund for F. R. notes 854,771 - 1 2,995 Total gold certificate reserves 21,011,122 - 2 - 20,745 F. R. notes of other Banks 330,403 - 3,411 + 117,373 Other cash 443,227 + 1,872 + 1,565 Discounts and advances 631,568 - 2,748 + 246,168 Industrial loans 695 + 40 + 168 Acceptances--bought outright 14,484 500 + 14,484 U, S. Government securities: Bought outright— Bills 538,200 + 88,000 - 345,044 Certificates 5,920,699 — «• -4,039,442 Notes 14,165,913 +4,206,442 Bonds 2,801,750 Total bought outright 23,426,562 + Eeld under repurchase agreement 55,900 + 28,000 55,900 Total U. S. Government securities 237582,462 116,000 122,144 Total loans and securities 24,129,209 + 112,792 + 138,676 Due from foreign banks 22 Uncollected cash items 4,509,492 - 562,083 + 186,345 Bank premises 63,076 + 164 + 7,595 Other assets 128,302 + 10,466 - , 4,554 TOTAL ASSETS 507^14,853 - 440,202 + 426,255 L I A B I L I T I ES Federal Reserve notes 26,029,487 50,498 + 443,937 Deposits: Member bank reserves 18,428,104 + 38,933 - 126,498 U. S. Treasurer—general account 553,556 7,379 - 35,79k Foreign 363,439 1,544 + 34,161 Other 305,492 - 369,241 - 180,529 Total deposits 19,650,591 - 339,231 . 308,660 Deferred availability cash items 3,718,414 - 60,802 + 218,188 Other liabilities and accrued dividends 15,841 + 1,589 + 1,264 TOTAL LIABILITIES 49,414,333 - 448,942 + 354,729 C A P I T AL A C C O U N TS Capital paid in 308,769 + 678 + 15,669 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 170,596 + 8,062 23,146 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,614,853 - 440,202 426,255 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 46.0$ + .4% - .2)6 Contingent liability on acceptances purchased for foreign correspondents 36,586 + 3,773 + 8,504 2,444 52 789 Industrial loan commitments - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, FEBRUARY 29, 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 624,776 1 5,845 4,171,600 l6 days to 90 days 6,792 14 8,639 1,434,500 91 days to 1 year 589 13,860,764 Over 1 year to 5 years 91 1,587,127 Over 5 years to 10 years 1,013,614 1.414,857 Over 10 years Digitized for FRASTEoRt al "631,568 E95™ 14,484 23,402,462 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON FEBRUARY 29 ,1956 H.4.l(fc) (In thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land RichmondIAtlanta CChhiiccaaggoo Louis apolis City DDaallllaass Francisco A S S E TS Gold certificates 20,156,351 978,668 5,294,011 1162,119 1797,677 1267,148 868,146 3687,151 862,126 302,123 806,469 698,146 2432,567 Redemption fund for F. R. notes 854,771 52.805 178,011 60,483 77,109 68,367 53,134 153,989 44,199 23,614 41,488 26,704 74,868 Total gold certificate reserves 21,011,122 1031,473 5,472,022 1222,602 1874,786 1335,515 921,280 3841,140 906,325 325,737 847,957 724,850 2507,435 F.R. notes of other Banks 330,403 13,151 79,995 26,474 15,609 28,660 71,740 21,541 10,579 8,534 6,425 15,627 32,068 Other cash 443,227 30,902 99,718 26,994 30,590 25,295 33,725 72,680 22,947 9,613 16,021 19,497 55,245 Discounts and advances 631,568 36,560 104,200 25,900 34,312 52,298 41,230 167,545 14,575 33,724 45,574 21,500 54,150 Industrial loans 695 638 57 Acceptances— Bought outright 14,484 14,484 U. S. Govt, securities: Bought outright— Bills 538,200 29,721 136,781 32,756 46,254 31,708 27,780 93,876 22,335 13,042 23,407 21,581 58,959 Certificates 5,920,699 326,965 1,504,716 360,345 508,843 348,812 .3 0.5 ,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 23,426,562 1293,708 5,953/744 1425,*787 2013,'349 1380,153 1209,232 4086,225 972,156 567,696 1018,«21 939,35% 2566,333 Held under repurchase agreement 55,900 55,900 1293,708 6,009,644 1425,787 2013,349 1380,153 1209,232 4086,225 972,156 567,696 1018,821 939,358 2566,333 Total U. S. Govt, sees. 23,462,462 Total loans & securities 24,129,209 1330,268 6,128,328 1452,325 2047,661 1432,451 1250,462 4253,770 986,731 601,477 1064,395 960,858 2620,483 1 1 12 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 Uncollected cash items 4,509,492 329,337 8197929 286,324 459,830 344,407 338,459 764,434 177,184 114,755 216,521 230,728 427,584 Bank premises 63,076 5,579 7,954 5,005 6,230 5,679 4,015 6,035 3,392 2,859 3,633 2,313 10,382 Other assets 128,302 6,725 30,704 7.430 11,078 7,428 7,455 23,618 5,107 2,981 5,373 6,451 13,952 TOTAL ASSETS 50,614,853 2747,436 12,638,656 3027,156 4445,78 63179,436 2627,137 8983,221 2112,266 1065,957 2160,326 1960,325 5667,151 1/ After deducting $16,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION^ EACH FEDERAL RESERVE BANK ON FEBRUARY 29 ,1956 B.4.1(c) (In thousands of dollars) St. Minne- Kansas San Cleve- Dallas Total Boston New York land Richmond!Atlanta Chicago Louis apolis Citj 1Francisco l i a b i l i t i es 1769,989 2421,564 1967,225 1319,256 5043,631 1204,22 5513,986 1029,468 680,528 2596,376 Federal Reserve notes 26,029,487 1551,048 5,932,191 Dep M U F o e . o s m S r i b . e t T e i s r r g e : n a b s a . n - k g e r n e . se r a v c e c s t . 18, 3 4 5 , 6 2 5 0 3 3 8 5 , , , , 5 4 1 4 5 3 0 9 6 9 4 2 75 2 5 5 0 2 0 , , , , 5 0 0 6 0 0 0 5 6 2 1 0 ~ 1 5 / , 1 2 2 8 2 3 9 6 1 2 2 , , , , 4 2 3 1 0 0 5 6 4 5 4 8 8 2 5 3 9 4 7 , , , 4 1 4 5 6 0 6 3 8 146 3 3 8 0 4 1 , , , , 3 8 3 4 8 4 7 4 1 9 8 8 79 1 5 8 2 7 3 , , , , 0 2 3 4 8 8 4 2 2 9 4 8 90 1 5 0 4 3 1 , , , , 2 9 6 2 3 1 9 9 7 6 6 7 30 8 1 4 2 9 7 , , , 9 7 4 7 6 9 1 0 7 67 1 1 5 2 6 , , , 9 8 7 8 8 3 > 2 4 6 2 3 2 7 9 8 9 1 , , , . 3 4 4 6 7 7 6 6 0 5 4 0 8 1 4 1 4 2 5 . 6 , , 8 , 8 0 0 3 8 8 4 8 2 6 0 5 3 9 1 1 , 4 . 7 6 4 0 , 6 , 2 2 6 3 4 8 8 9 7 2 1 4 3 1 4 2 5 , 8 , , 2 8 4 6 3 , 3 2 0 9 7 0 9 8 Ot T h o e t r a l deposits 19,650,591 828,159 5,732,131 930,752 1535,056 871,143 970,146 3151,169 713,154 418,969 906,152 1016,366 2577,394 Deferred availability 378,787 277,102 281,969 614,694 147,042 101,108 176,214 203,077 366,995 cash items 3,718,414 295,604 636,085 239,737 Ot a h c e c r r u l e i d a b d i i l v i i t d i e e n s d a s n d 15,841 4,768 854 1,867 629 702 2.745 496 1034, 6 6 0 6 0 3 5 2 7 11 6 2,410 4 1 8 90 6 0,457 1 5 , 5 3 4 2 2 6 , 091 TOTAL LIABILITIES 49,414,333 2675,603 12,305,175 2941,332 4337,274 3116,099 2572,073 8812,239 2064,917 CAPITAL ACCOUNTS C S S a u u p r r i p p t l l a u u l s s p ( ( S a S e e i c c d t t i i i n o o n n 7 13 ) b ) 6 3 9 2 0 7 3 8 , , , 5 6 7 4 1 6 3 9 2 1 4 6 1 3 , , , 2 6 o 6 6 u 7 6 1 9 9 Q 7 0 5 G , , , 8 3 8 e 1 1 2 n 6 9 7 Q 1 4 1 4 9 9 1 , , , . 9 4 4 A 8 8 9 S 9 9 1 S 1 1 6 2 , 5 2 9 0 . , , 0 1 5 7 7 6 6 6 9 3 4 1 3 1 4 5 3 0 , , , . 0 0 3 9 5 1 4 2 1 9 5 2 1 3 4 0 , , 7 0 8 6 5 4 2 9 1 1 4 0 2 1 1 1 5 , , , , 6 4 9 8 2 9 6 9 9 5 4 4 2 1 7 0 8 , , . 7 6 5 4 5 4 2 2 1 9 1 8 1 6 7 1 5 , , , . 9 5 0 6 8 8 7 4 6 3 6 9 2 1 5 8 2 1 , . , , 9 2 5 1 6 6 3 5 0 7 5 4 1 3 7 6 1 3 , . , , 9 7 3 8 3 0 8 4 1 7 3 7 7 3 1 1 2 4 6 , , , . 2 1 9 7 7 4 3 0 5 0 8 7 Other capital accounts TO C T A A P L I T L A I L A BI A L C I C T O I UN E T S S A MD 0.614.8 436 12.638.656 156 444 4l6 262 8983,221 2112,266 667.151 Conting. liab. on accept ances purchased for 5,124 1,391 915 1,391 1,867 3,843 2/10,454 2,635 3,330 1,867 1,610 foreign correspondents 36,586 2,159 2,128 ™" __ 45 260 11 Industrial loan commit. 2,444 FEDERAL RESERVE AGENTS' ACCOUNTS" 5168,922 1266,928 571,262 1057,064 728,139 2724,644 6,222,220 1864,661 2537,866 2032,392 1383,847 F. R. notes outstanding 127,186,444 1628,499 Collat. for F. R. notes: 2400,000 450,000 150,000 280,000 283,000 1500,000 Gold certificates 11,713,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 14,575 33,724 45,574 Eligible paper 156,333 36,560 25,900 2900,000 900,000 500,000 800,000 525,000 1500,000 1200,000 3,600,000 1200,000 1550,000 1250,000 1000,000 U. S. Govt# securities 16,925,000 5300,000 1364,57; 683.724 1125,574 808,000 3000,000 6,470,000 1950.900 2620.000 2095,000 1500,000 Total collateral 28,794,333 1876,560 l/ After deducting $242,0 46,000 participations of other Federal Reserve Banks, 2/ After deducting $26, 132,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis