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 22, 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 21 increased $513 million to $19,204 million. Estimated required reserves increased $372 million; and estimated excess reserves increased $l4l million to $622 million- Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $312 million, compared with $494 million the week before. The principal changes supplying reserves were an increase of $485 million in Federal Reserve float, and decreases of $75 million in Treasury deposits with Federal Reserve Banks, $27 million in foreign deposits with Federal Reserve Banks, and $12 million in money in circulation. The principal offsetting changes were an increase of $48 million in "other" F. R. account s(net) and a decrease of $4l million in member bank borrowings. Total Reserve Bank credit increased $446 million. As of Wednesday, March 21, holdings of U. S. Government securities bought outright were $4 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $74 million lower, and member bank borrowings were $357 million higher. Holdings of certificates increased $5,012 million and notes decreased a like amount, reflecting the exchange of notes maturing March 15 and April 1 for Series A-1957 certificates. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Mar. 21, 1956 Mar. 14, 1956 Mar. 23, 1955 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,405 - 5 -199 Held under repurchase agreement 103 + 8 + 43 Acceptances--bought outright 15 - 1 + 15 Loans, discounts, and advances— Member bank borrowings 934 - 4l +407 Other 1 «* — -103 Float 1,297 +485 +265 Total Reserve Bank credit 25,754 +446 +427 Gold stock 21,713 - 4 - 5 Treasury currency outstanding 5,013 + 2 + 18 52,479 +442 +U39 Money in circulation 30,264 - 12 +471 Treasury cash holdings 783 + 4 - 35 Treasury deposits with F. R. Banks 489 - 75 -398 Foreign deposits with F. R. Banks 333 - 27 6 Other deposits with F. R. Banks 336 - 10 99 - OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 1,069 + 48 +105 33,276 - 70 + 4o Member bank reserves-- 19,204 +513 +400 Required reserves (estimated) 18,582 +372 4459 Excess reserves (estimated) 622 +141 - 59 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 21,715 Treasury cash holdings 794 Treasury currency outstanding 5,015 Member bank) - Required (est.) l8,6l6 Money in circulation 30,247 reserves ) - Excess (est.) ll6 On March 21, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,8l8 million, a decrease of $4 million for the week and an increase of $761 million from the comparable date Digitized faor FyReAaSrE Ra go. 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 Mar. 21, Mar. 14, Mar. 23, 1956 1956 1955 Gold certificate account 20,180,988 - 22,000 + 2,888 Redemption fund for F, R. notes 848,556 + 12,082 2,903 - Total gold certificate reserves 21,029,544 - 9,918 - 15 F. R. notes of other Banks 298,102 « 13,046 + 82,097 Other cash 400,013 - 2,808 • 12,082 Discounts and advances 1,058,693 + 356,826 + 523,759 Industrial loans 650 - 54 - 25 Acceptances--bought outright 14,503 1,000 + 14,503 - U. S. Government securities: Bought outright-- Bills 517,000 - 4,400 - 336666,,224444 Certificates 10,932,699 +5, 012,000 + 972,558 Notes 9,153,913 -5,012,000 •p. 805,558 Bonds 2,801,750 — — «• Total bought outright 23,405,362 « 4,400 - 199,244 Held under repurchase agreement -- - 73,700 — - Total U. S. Government securities 23,405,362 - 78,100 - 199,244 Total loans and securities 24,479,208 + 277,672 + 338,993 Due from foreign banks 22 — • -- Uncollected cash items 5,731,826 + 644,981 +1,183,690 Bank premises 64,252 + 314 + 8,l8l Other assets 109,145 - 40,783 - 29,746 TOTAL ASSETS 52,112,112 + 856,412 +1,571,118 L I A B I L I T I ES Federal Reserve notes 26,039,404 15,948 + 542,698 - Deposits: Member bank reserves 1188,,773311,,881166 + 179,844 + 143,465 U. S. Treasurer—general account 995,368 + 434,207 + 240,288 Foreign 325,462 - 14,091 - 25,484 Other 324,821 - 26,284 - 81,460 Total deposits 20,377,467 + 573,676 + 276,809 Deferred availability cash items 4,453,515 + 290,576 + 668,767 Other liabilities and accrued dividends 15,947 - 604 + 517 TOTAL LIABILITIES 50,886,333 + 847,700 >1,488,791 C A P I T AL A C C O U N TS Capital paid in 309,720 + 503 + 15,962 Surplus (Section 7) 693,612 -- + 32,711 Surplus (Section 13b) 27,543 - - — - Other capital accounts 194,904 + 8,209 + 33,654 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,112,112 + 056,412 +1,571,118 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4455..33## - .6# . - Contingent liability on acceptances purchased for foreign correspondents 39,435 - 1,204 + 10,639 Industrial loan commitments 2,466 + 53 - 893 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 21, 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 1,052,004 10 T,725 144,300 16 days to 90 days 6,596 322 8,778 372,700 91 days to 1 year 13 229 18,872,764 Over 1 year to 5 years 89 1,587,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 1,055,693 650 14,503 23,405,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MARCH 21, 1956 Phila- Total Boston New York delphia II St. Minne- Kansas San Richmond Atlanta Chicago Dallas Louis apolis City Francisco A S S E TS Gold certificate account 20,180,988 899,857 5,306,759 1198,719 1844,009 1337,739 913,001 3470,118 897,704 355,564 791,796 710,342 2455,380 Redemption fund for F. R. notes 848,556 52,304 175,965 59,619 74,761 65,165 52,732 158,231 43,968 23,549 41,292 26,556 74,414 Total gold certificate reserves 21,029,5^4 952,161 5,482,724 1258,338 1918,770 1402,904 965,733 3628,349 941,672 379,113 833,088 736,898 2529,794 F.R, notes of other Banks 298,102 8,387 64,100 25,266 16,118 25,874 70,788 19,208 10,424 4,174 7,047 17,250 29,466 Other cash 400,013 27,457 93,844 23,020 31,714 20,171 26,468 65,389 22,998 7,793 14,250 18,900 48,009 Discounts and advances 1,058,693 13,135 327,275 25,645 14,685 7,578 17,100 424,550 4,625 49,101 88,099 4,850 82,050 Industrial loans 650 594 56 Acceptances-- Bought outright 14,503 14,503 U. S. Govt, securities: Bought outright— Bills 517,000 28,550 131,393 31,466 44,432 30,458 26,686 90,179 21,455 12,528 22,484 20,732 56,637 Certificates 10,932,699 603,748 2,778,491 665,386 939,589 644,089 564,324 1906,958 453,685 264,932 475,463 438,379 1197,65^ Notes 9,153,913 505,516 2,326,421 557,125 786,715 539,294 472,507 1596,689 379,869 221,827 398,104 367,053 1002,793 Bonds 2,801,750 154,724 JU| \ 7 J 1 jJ 2 tM ,051 170,520 t2.4T0U,,791 )7 1X6 5>, 0|6 2 , CM 1|4 4W,6 2|1 , 4 J. 8 C. 8 J. , , 701 116,267 *" " 6*7*,"8 1 9 5 121,848 1V1/2T,V3 4J4. J3.I0-6,,9 2_»6T- r Total 23,405,362 1292,530 5,948,356 1424,497 2011,527 1378,903 1208,138 4082,527 971,276 567,182 1017,699 938,508 2564,011 Held under repurchase agreement Total U. S. Govt, sees. 23,405,362 1292,538 5,948,356 1424,497 2011,527 1378,903 1208,138 4082,527 971,276 567,182 1017,899 938,508 2564,011 Total loans & securities 24,479,208 1305,673 6,290,134 1450,736 2026,212 1386,481 1225,238 4507,077 975,901 616,339 1105,998 943,358 2646,361 Due from foreign banks 22 1 1/ 6 2 2 l 1 3 1 1 1 1 2 Uncollected cash items 5,731,826 387,160 1,1987280 341,523 583,935 423,217 431,918 889,599 232,795 136,656 286,126 316,559 504,058 Bank premises 64,252 5,580 8,098 5,005 6,424 5,932 4,055 6,047 3,452 3,141 3,7*7 2,390 10,421 Other assets 109,145 5,677 25,890 6,378 9,236 6,297 6,432 20,051 4,289 2,545 4,532 5,921 11,897 TOTAL ASSETS 52,112,112 2692,096 13,163,076 3110,268 4592,411 3270,877 2730,633 9135,723 2191,532 1149,762 2254,749 2041,277 5779,708 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 MARCH 21, I95C (in thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 26,039,404 1555,808 5,957,581 1764,276 2420,918 1967,643 1312,231 5042,8751197,375 514,644 1024,470 680,384 2601,199 Deposits: Member bank reserves 18,731,816 739,627 5,503,564 901,781 1450,710 781,203 931,460 3017,924 685,046 422,864 891,720 948,225 2457,692 U.S.Treas.-gen. acct. 995,368 74,775 206,946 85,698 70,198 56,680 54,737 155,086 40,453 52,346 63,378 38,554 96,517 Foreign 325,462 18,349 1/103,383 22,392 28,301 15,861 13,684 43,540 11,818 7,775 11,818 15,861 32,680 Other 324,821 3,591 245,001 11,722 710 4,506 2,823 1,178 7,707 795 2,072 812 43,904 Total deposits 20,377,467 836,342 6,058,894 1021,593 1549,919 858,250 1002,704 3217,728 745,024 483,780 968,988 1003,452 2630,793 Deferred availability cash items 4,453,515 226,101 801,823 236,268 509,445 379,515 358,446 696,786 200,394 118,894 211,690 295,834 418,319 Other liabilities and accrued dividends 15,947 786 4,550 784 1,634 762 801 2,735 487 567 550 802 1,489 TOTAL LIABILITIES 50,886,333 2619,037 12,822,848 3022,921 4481,916 3206,170 2674,182 8960,124 2143,280 1117,885 2205,698 1980,472 5651,800 CAPITAL ACCOUNTS Capital paid in 309,720 16,284 91,017 20,031 29,792 14,086 14,302 41,708 10,755 6,991 12,585 16,959 35,210 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 194,904 12,097 46,065 13,336 17,134 12,260 10,546 30,568 9,327 6,227 9,369 8,692 19,283 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,112,112 2692,096 13,163,076 3110,268 4592,411 3270,877 2730,633 9135,723 2191,532 1149,762 2254,749 2041,277 5779,708 Conting. liab. on acceptances purchased for foreign correspondents 39,435 2,319 2/11,375 2,830 3,576 2,004 1,729 5,502 1,493 983 1,493 2,004 4,127 Industrial loan commit. 2,466 88 250 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,065,442|l6l6,759 6,187,013 1854,659 2522,442 2038,105 1375,253 5143,655 1252,098 569,425 1050,632 726,794 2728,607 Collat. for F. R. notes: I , Gold certificate acct. 11,413,000jj 64o,000 2,870,000 725,000 1070,000 845,000 500,000 2100,000 450,000 150,000 280,000 283,000 1500,000 Eligible paper 4^7, 'i57f -- -- 25,645 -- — -- -- 4,625 -49,1-01 88,086 U. S. Govt, securities 17,035,000 1200,000 3,600,000 1200,000 1500,000 1250,000 1000,000 3100,000 900,000 460,000 800,000 525,000 1500,000 Total collateral 28,613 Ml 1840,000 6,470,000 1950,645 2570,000 2095,000 1500,00 05200,000 1354,625 -6^101 1168,086 808,000 3000,000 W0,000 l/ After deducting $222,054,000 participations of other Federa lReserve Banks. 2/ After deducting $28,060,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis