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 29, 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 hank reserves for the week ending March 28 decreased $176 million to $19,028 million. Estimated required reserves decreased $106 million; and estimated excess reserves decreased $70 million to $553 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $643 million, compared with $311 millio nthe week before. The principal changes reducing reserves were a decreaseof $356 million in Federal Reserve float and an increase of $110 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of ^ $262 million in member bank borrowings, and decreases of $19 million in 'other deposits with Federal Reserve Banks and $15 million'in money in circulation. Total Reserve Bank credit decreased $93 million. As of Wednesday, March 28, holdings of U. S. Government securities bought outright were $182 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $l6 million higher, and member bank borrowings were $353 million lower. Weekly averages of daily figures Member bank reserves, Reserve Bank credit, Week ending Change from week ending and related items Mar. 28, 1956 Mar7""21, 19561 Mar . 30 ,1955 "(In millions of dollars' Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,495 + 90 -109 Held under repurchase agreement 13 - 90 + 13 Acceptances--bought outright 14 - l + l4 Loans, discounts, and advances- Member bank borrowings 1,196 +262 +544 Other 1 - 93 Float 941 -356 +264 Total Reserve Bank credit 25,661 - 93 ^533 Gold stock 21,715 + 2 - 4 Treasury currency outstanding 5,015 + 2 + 18 52,391 T~8S +648 Money in circulation 30,249 - 15 +533 Treasury cash holdings 787 + 4 - 39 Treasury deposits with F. R. Banks 599 +110 -401 Foreign deposits with F. R. Banks 341 + 8 + 3 Other deposits with F. R. Banks 317 - 19 -173 Other F. R. accounts (net) 1,069 +105 + 28 33,363 Member bank reserves- 19,028 -176 +620 Required reserves (estimated) 1B7W5 -To5 +557 Excess reserves (estimated) 553 - TO + 63 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 787 Treasury currency outstanding 5,015 Member bank) - Required (est.) 18,464 Money in circulation 30,238 reserves ) - Excess (est.) 118 On March 28, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,796 million, a decrease of $22 million for the week and an increase of $728 million from the comparable date a Digitized fory FeRaArS EaRg o. 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. 28, Mar. 21, Mar. 30, 1956 1956 1955 A S S E TS Gold certificate account 20,190,988 + 10,000 + 1122,,888855 Redemption fund for F. R. notes 845,173 - 3,383 - 3,651 Total gold certificate reserves 21,036,161 + 6,617 + 9,234 F. R. notes of other Banks 290,280 ~ 7,822 + 88,228 Other cash 388,338 - 11,675 - 21,714 Discounts and advances 705,946 - 352,747 + 14,860 Industrial loans 682 + 32 + 161 Acceptances--bought outright 14,502 1 + 14,502 U. S. Government securities: Bought outright-- Bills 669999,,000000 + 118822,,000000 - 118844,,224444 Certificates 10,932,699 —— + 972,558 Notes 9,153,913 -- - 805,558 Bonds 2,801,750 - - -- Total "bought outright 23,587,362 + 182,000 - 17,244 Held under repurchase agreement 16,000 + 16,000 + 16,000 Total U. S. Government securities 23^03,362 + 198,000 - 1,244 Total loans and securities 24,324,492 154,716 + 28,279 Due from foreign banks 22 -- Uncollected cash items 4,433,412 -1,298,414 + 643,622 Bank premises 64,271 + 19 + 8,307 Other assets 118,175 + 9,030 - 26,449 TOTAL ASSETS 50,655,151 -1,456,961 + 729,507 L I A B I L I T I ES Federal Reserve notes 26,009,343 - 30,061 + 518,775 Deposits: Member bank reserves 1188,,558822,,222266 - 149,590 + 119944,,440000 U. S. Treasurer--general account 511,721 - 483,647 « 339,585 Foreign 342,652 + 17,190 • 13,127 Other 316,478 8,343 - 120,934 Total deposits 19,753,077 - 624,390 - 279,246 Deferred availability cash items 3,640,637 - 812,878 + 402,431 Other liabilities and accrued dividends 17,577 + 1,630 + 1,187 TOTAL LIABILITIES 49,420,634 -1,465,699 + 643,147 C A P I T AL A C C O U N TS Capital paid in 309,982 + 262 + 16,078 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 — — — Other capital accounts 203,380 + 8,476 + 37,571 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,655,151 -1,456,961 + 729,507 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 4466..00$$ ++ ..77%% - ..22$$ Contingent liability on acceptances purchased for foreign correspondents 39,073 336622 + 9,939 Industrial loan commitments 2,432 34 - 1,081 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MARCH 28, 1956 (Acceptances and securities held under repurchase agreement are classifed 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 696,96k 10 4,623 125,100 16 days to 90 days 8,969 356 9,879 589,900 91 days to 1 year 13 227 — 18,872,764 Over 1 year to 5 years -- 89 -- 1,587,127 Over 5 years to 10 years -- — __ l,013,6l4 Over 10 years __ -- 1 >14.857 ?°tal 705,946 682 14,502 23,603,362 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON MARCH 28 ,1956 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 20,190,988 950,141 5,456,487 1201,435 1791,711 1303,833 885,191 3445,502 870,496 339,047 798,611 698,426 2450,108 Redemption fund for F. R. notes 845,173 52,130 175,290 59,292 74,500 64,006 52,587 157,977 43,883 23,526 41,231 26,504 74,247 Total gold certificate reserves 21,036,161 1002,271 5,631,777 1260,727 1866,211 1367,839 937,778 3603,479 914,379 362,573 839,842 724,930 2524,355 F.R. notes of other Banks 290,280 10,341 61,557 24,321 17,173 24,022 66,969 21,780 9,571 4,190 7,173 14,337 28,846 Other cash 388,338 26,410 89,816 19,399 28,730 18,945 31,000 63,744 22,937 8,371 13,581 18,175 47,230 Discounts and advances 705,946 19,830 143,995 17,500 54,165 14,043 28,232 312,210 11,200 34,340 59,981 2,700 7,750 Industrial loans 682 626 56 Acceptances-- Bought outright 14,502 " 14,502 -- -- - - -- -- -- — - -- -- U. S. Govt. securities: Bought outright— Bills 699,000 38,601 177,647 42,543 60,074 4i,181 36,080 121,925 29,007 16,939 30,399 28,030 76,574 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 1197,655 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 2,801,750 154,724 712,051 170,520 240,791 165,062 144,621 488,701 116,267 67,895 121,848 112,344 306,926 Total 23,587,362 1302,589 5,994,610 1435,574 2027,16 91309,b2b 1217,532 4114,273 978,828 571,593 1025,814 945,806 2583,948 Held under repurchase agreement 16.OOO 16,000 Total U. S. Govt, sees. 23,603,362 1302,589 6,010,610 1435,574 2027,169 1389,626 1217,532 4114,273 978,828 571,593 1025,8l4 945,806 2583,948 Total loans 8 csecurities 24,324,492 1322,419 6,169,107 1453,700 2081,334 1403,669 1245,764 4426,483 990,028 605,989 1085,795 948,506 2591,698 Due from foreign banks 22 1 l/ 6 2 2 1 1 3 1 1 1 1 f Uncollected cash items 4,433,412 334,260 8507421 260,868 475,219 357,659 328,649 693,205 166,937 113,521 194,970 221,399 436,304 Bank premises 64,271 5,547 8,098 4,983 6,443 5,911 4,04i 6,042 3,453 3,138 3,755 2,410 10,450 Other assets 118,175 6,032 28,240 6,903 10,202 6,935 6,908 21,407 4,647 2,784 4,964 6,242 12,911, TOTAL ASSETS 50,655,151 2707,281 12,839,022 3030,903 4485,314 3184,981 2621,110 8836,143 2111,953 1100,567 2150,081 1936,000 5651,796 17 After deducting"pbJOOO participations of other Federa lReserve 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 28, 1956 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 26,009,343 1561,342 5,951,575 1769,939 2423,797 1964,670 1305,049 5034,031 1192,691 513,100 1020,368 681,333 2591,448 Deposits: Member bank reserves 18,582,226 710,383 5,482,891 877,508 1494,135 802,390 907,663 2965,307 676,877 420,591 858,741 940,451 2445,289 U.S.Treas.-gen. acct. 511,721 45,061 47,203 38,858 39,898 46,271 51,937 55,905 33,635 31,935 41,899 35,830 43,289 Foreign 342,652 19,529 1/106,293 23,832 30,121 16,881 14,564 46,340 12,578 8,275 12,578 16,881 34,780 Other 316,478 2,131 242,443 10,383 855 3,368 1,545 580 7,704 934 2,201 871 43,463 Total deposits 19,753,077' 777,104 5,878,830 950,581 1565,009 868,910 975,709 3068,132 730,794 461,735 915,419 994,033 2566,821 Deferred availability cash items | 3,640,637 294,435 661,179 221,647 383,399 285,195 282,690 553,831 139,292 93,091 164,208 198,639 363,031 Other liabilities and accrued dividends 17,577 932 4,935 878 1,904 859 796 2,880 594 551 667 876 1,705 TOTAL LIABILITIES 49,420,634 2633,813 12,496,519 2943,045 4374,109 3119,634 2564,244 8658,874 2063,371 1068,477 2100,662 1874,881 5523,005 CAPITAL ACCOUNTS Capital paid in 309,982 16,284 91,017 20,032 29,813 14,274 14,329 41,717 10,760 6,993 12,585 16,967 35,211 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 203,380 12.506 48,340 13,846 17,823 12,712 10,934 32,229 9,652 6,438 9,737 8,998 20,165 TOTAL LIABILITIES AND 2707,281 12,839,022 3030,903 4485,314 3184,981 2621,110 8836,143 2111,953 1100,567 2150,081 1936,000 5651,796 CAPITAL ACCOUNTS 50,655,151 Conting. liab. on acceptances purchased for foreign correspondents 39,073 2,325 2/10,941 2,837 3,586 2,009 1,734 5,516 1,497 985 1,497 2,009 4,137 Industrial loan commit. 2,432 56 248 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS 1614,313 6,186,825 1854,440 2520,582 2033,811 1369,616 5142,898 1247,071 569,261 1056,769 725,755 2724,304 F. R. notes outstanding 27,045,645 Collat. for F. R. notes: Gold certificate acct. 11,413,000 640,000 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 88,668 -- -- 17,500 — 11,200 — 59,968 — —~ U. S. Govt, securities 17,035,000 1200,000 3,600,000 1200,000 1500,000 1250,000 icoo,coo 3100,000 900,000 460,000 800,000 525,000 1500,000 Total collateral 28,536,668 1840,000 6,470,000 1942,500 2570,000 2095,000 1500,000 5200,000 1361.200 610,000 1139,968 808,000 3000,000 l/ After deducting $236,334,000 participations of other Federal Reserve Banks, 2/ After deducting $28,132,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis