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 15, 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 March 14 increased $21 million to $18,691 million. Estimated required reserves increased $31 million; and estimated excess reserves decreased $10 million to $477 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $498 million, compared with $262 million the week before. The principal changes supplying reserves were increases of $226 million in member bank borrowings and $22 million in gold stock. The principal offsetting changes were increases of $103 million in Treasury deposits with Federal Reserve Banks, $74 million in money in circulation, and $19 million in "other" deposits with Federal Reserve Banks, and decreases of $23 million in Federal Reserve float and $13 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit increased $190 million. As of Wednesday, March 14, holdings of U. S. Government securities bought outright were $17 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $17 million lower, and member bank borrowings were $51 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, WWeeeekk eennddiinngg Change from week ending and related items MMaarr.. 1144,, 11995566 Mar. 7, 19561 Mar. 16, 1955 (] Cn millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,410 - 16 -194 Held under repurchase agreement 95 + 3 + 93 Acceptances--bought outright 16 + 1 + 16 Loans, discounts, and advances-- Member bank borrowings 975 +226 +600 Other 1 -107 - - Float 812 - 23 + 93 Total Reserve Bank credit 25,308 +190 +499 Gold stock 21,717 + 22 •» — Treasury currency outstanding 5,oil + 16 "• — 52,037 +213 +516 Money in circulation 30,276 + 74 +443 Treasury cash holdings 779 - 4 - 38 Treasury deposits with F. R. Banks 564 +103 +208 Foreign deposits with F. R. Banks 360 - 62 *> — Other deposits with F. R. Banks 346 + 19 - 12 Other F. R. accounts (net) 1,021 - 2 + 64 33,346 +191 +603 Member bank reserves-- 18,691 + 21 - 88 Required reserves (estimated) 18,214 + 31 + 65 Excess reserves (estimated) 477 - 10 -153 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 21,721 Treasury cash holdings 788 Treasury currency outstanding 5,012 Member bank) - Required (est,) 18,300 Money in circulation 30,247 reserves ) - Excess (est.) 252 On March l4, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,822 million, an increase of $6 million for the week and an increase of $770 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 Mar. 14, Mar. 7> Mar. 16, 1956 1956 1955 A S S E TS Gold certificate account 20,202,988 + 36,635 + 19,886 Redemption fund for F. R. notes 836,474 - 11,762 - 13,246 Total gold certificate reserves 21,039,452 + 24,073 + 6,640 F. R. notes of other Banks 311,148 • 290 + 104,054 Other cash 402,821 18,972 3,769 Discounts and advances 701,867 + 51,393 + 333A72 Industrial loans 704 + 10 + 6 Acceptances--bought outright 15,503 + 1 + 15,503 U. S. Government securities: Bought outright-- Bills 521,400 16,800 - 361,844 Certificates 5,920,699 -4,039,442 Notes 14,165,913 +4,206,442 Bonds 2,801,750 Total bought outright 23,409,762 16,000 - 194,044 Held under repurchase agreement 73,700 17,000 + 73,700 Total U. S. Government securities 23,403,462 33,800 - 121,144 Total loans and securities 24,201,536 + 17,604 + 227,537 Due from foreign banks 22 Uncollected cash items 5,086,845 + 973,609 - 840,999 Bank premises 63,938 + 790 + 7,941 Other assets 149,928 + 10,86l + 17,151 TOTAL ASSETS 51,255,700 +1,000,475 - 401,445 L I A B I L I T I ES Federal Reserve notes *" 26,055,352 + 10,920 + 498,955 Deposits: Member bank reserves 18,551,972 + 33,86$ - 808,464 U. S. Treasurer--general account 561,161 109,201 + 375,916 Foreign 339,553 - 16,853 + 3,187 Other 351,105 + 3,819 + 105,488 Total deposits 19,803,791 + 130,032 - 323,873 Deferred availability cash items 4,162,939 858,063 736,699 Other liabilities and accrued dividends 16,551 + 884 + 1,784 TOTAL LIABILITIES 50,030,533 + 999,899 C A P I T AL A C C O U N TS Capital paid in 309,217 + 130 + 15,631 Surplus (Section 7) 693,612 — •» + 32,711 Surplus (Section 13b) 27,543 «• Other capital accounts 186,695 + 8,446 + 30,046 TOTAL LIABILITIES AND CAPITAL ACCOUNTS Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.956 .1% Contingent liability on acceptances purchased for foreign correspondents 40,639 + 1,493 + 11,608 Industrial loan commitments 2,413 22 767 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 14, 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 "£"93,908 7,667 ' 4,231,900 16 days to 90 days 7,959 387 7,836 1,375,200 91 days to 1 year 227 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 701,867 W 15,503 %j,4oj,46% http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 14, 1956 (In thousands of dollars) Phila- Cleve- St, Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco A S S E TS Gold certificate account 20,202,988 1026,960 5,299,747 1208,366 1800,686 1293,326 685,187 3482,299 881,223 320,689 815,095 704,659 2484,751 Redemption fund for F. R. notes 836,474 52,452 176,582 59,886 74,972 66,172 52,850 143,457 44,040 23,566 41,347 26,601 74,549 Total gold certificate reserves 21,039,462 1079,412 5,476,329 1268,252 1875,658 1359,498 938,037 3625,756 925,263 344,255 856,442 731,260 2559,300 F.R. notes of other Banks 311,148 11,260 75,193 27,312 14,120 21,992 77,565 20,145 9,579 3,670 6,477 15,526 28,309 Other cash 402,821 29,114 96,010 24,447 27,530 19,901 28,148 67,551 21,427 9,186 14,001 18,780 46,726 701,867 33,885 53,780 15,660 62,716 24,273 32,035 328,765 11,550 63,675 48,628 5,550 21,350 Discounts and advances 704 648 56 Industrial loans Acceptances— 15,503 15,503 Bought outright U. S. Govt, securities: Bought outright— 521,400 28,794 132,5U 31,734 44,810 30,718 26,913 90,945 21,637 12,635 22,676 20,908 57,119 Bills 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 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 Notes 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 23,409,762 1292,781 5,949,474 1424,765 2011,905 1379,163 1208,365 4083,294 971,458 567,289 1018,090 938,685 2564,493 Total Held under repurchase agreement 73,700 73,700 Total U. S. Govt, sees. 23,483,462 1292,781 6,023,174 1424,765 2011,905 1379,163 1208,365 4083,294 971,458 567,289 1018,090 938,685 2564,493 Total loans & securities 24,201,536 1326,666 6,092,457 1441,073 2074,621 1403,436 1240,400 4412,059 983,008 631,020 1066,718 944,235 2585,843 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 11 2 Uncollected cash items 5,086,845 356,522 9667597 295,389 492,041 406,099 410,097 858,424 222,462 124,631 248,443 249,055 457,085 Bank premises 63,938 5,579 7,956 5,005 6,300 5,931 4,056 6,035 3,417 3,141 3,707 2,390 10,421 Other assets 149,928 7.837 36,585 8,717 12,892 8,751 8,555 27,273 5,944 3.487 6,280 7,344 16,263 TOTAL ASSETS 51,255,700 2816.391 12,751,133 3070.197 4503,164 3225,609 2706,859 9017,246 2171,101 1119,391 2202,069 1968,591 5703,949 1/ After deducting $16,000participations 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 MARCH 14, 1956 (In thousands of dollars) Phila- Cleve- st« Minne- Kansas Sam Total Boston New York RRiicchhmmoonndd AAttllaannttaa CChhiiccaaggoo DDaallllaass delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes '26,055,352 1551,332 5,934,216 1766,234 2424,197 1974,255 1318,966 5041,854 1201,922 515,383 1028,892 681,206 2616,895 Deposits: Member bank reserves 18,551,972 797,259 5,324,563 884,349 1487,883 792,256 915,386 2997,414 669900,,006633 417,451 871,469 i I 6 U.S.Treas.-gen. acct. 56l,l6l 34,566 70,735 44,503 40,026 52,735 43,928 68,153 28,027 32,300 46,662 46,024 53,502 Foreign 339,553 20,060 1/96,768 24,480 30,940 17,340 14,960 47,600 12,920 8,500 12,920 17,340 35,725 Other 351,105 4,447 274,645 10,004 1,031 3,067 2,028 1,209 6,681 1,158 3,799 971 42,065 Total deposits 19,803,791 856,332 5,766,711 963,336 1559,880 865,398 976,302 3114,376 737,691 459,409 934,850 1010,644 2558,862 Deferred availability cash items 4,162,939 335,242 707,511 252,905 407,429 320,891 355,020 668844,,223355 118822,,995500 111122,,440044 189,021 215,544 399,787 Other liabilities and accrued dividends 16,551 846 4,846 888 1,795 820 669 2,782 585 514 628 716 1,462 TOTAL LIABILITIES 50,038,633 2743,752 12,413,284 2983,363 4393,301 3161,364 2650,957 8843,247 2123,148 1087,710 2153,391 1908,110 5577,006 CAPITAL ACCOUNTS Capital paid in 309,217 16,277 90,996 20,014 29,781 14,072 14,140 41,697 10,752 6,991 12,573 16,941 34,983 Surplus (Section 7) 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 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Other capital accounts 186,695 11,684 43,707 12,840 16,513 11,812 10,159 28,979 9,031 6,031 9,008 8,386 18,545 TOTAL t LIABILITIE SAND CAPITAL ACCOUNTS 51,255,700 2816,391 12,751,133 3070,197 4503,164 3225,609 2706,859 9017,246 2171,101 1119,391 2202,069 1968,591 5703,949 Conting. liab. on acceptances purchased for foreign correspondents 40,639 2,389 2/11,722 2,916 3,685 22,,006655 1,782 55,,667700 1,539 1,013 1,539 22,,006666 44,,225533 Industrial loan commit. 2,413 -- — 35 250 -• -- 2,128 — — FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,088,884 1617,772 6,194,832 1860,155 2526,976 2038,812 1375,619 5138,210 1256,324 569,581 1050,676 722,482 2737,445 Collat. for F. R, notes: Gold certificate acct. 11,613,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 2300,000 450,000 150,000 228800,,000000 228833,,000000 1500,000 Eligible paper 139,051 — — 15,660 — — 11,550 63,226 48,615 -- -- U. S. Govt, securities 16,875,000 1200,000 3,600,000 1200,000 1500,000 1250,000 1000,000 2900,000 900,000 500,000 800,000 525,000 1500,000 Total collateral 28,627,051 1840,000 6,470,000 1940,660 2570,000 2095,000 1500,000 5200,000 1361,550 713,226 1128,615 808,000 3000,000 1/ After deducting $242,760,000 participations of other Federal Reserve Banks. D2ig/itiz eAd ffotr eFRrA SdEeRd ucting $28,917/000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis