H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM April 19, 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 April 18 decreased $8 million to $18,909 million .Estimated required reserves were unchanged; and estimated excess reserves decreased $8 million to $642 million. Member bank borrowings at the Federal Reserve Banks exceeded exces sreserves by $467 million, compared with $469 million the week before. The principal changes reducing reserves were decreases of $122 million in Federal Reserve holdings of U. S. Government securities and $10 million in member bank borrowings, and increases of $23 million in Treasury deposits with Federal Reserve Banks and $19 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $147 million in Federal Reserve float and $14 million in gold stock, and a decrease of $10 million in money in circulation. Total Reserve Bank credit increased $16 million. As of Wednesday, April l8, U. S. Government securities bought outright were $70 million lower than a week earlier, and member bank borrowings were $191 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Apr. 18, 1956 Apr. 11, 19561Apr. 20, 1955 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,377 -141 -227 Held under repurchase agreement 22 + 19 + 22 Acceptances— Bought outright 15 mm - 1 Held under repurchase agreement - 3 -- Loans, discounts, and advances-- Member bank borrowings 1,109 - 10 +683 Other 1 — — - 94 Float 973 +147 - 58 Total Reserve Bank credit 25,497 + 16 +322 Gold stock 21,741 + 14 + 71 Treasury currency outstanding 5,018 + 2 + 21 52,256 + 32 +4i4 Money in circulation 30,290 - 10 +497 Treasury cash holdings 785 + 3 - 35 Treasury deposits with F. R. Banks 531 + 23 + 48 Foreign deposits with F. R. Banks 347 + 19 - 72 Other deposits with F. R. Banks 313 + 6 -l4l Other F. R. account s(net) l,08l - l +103 33,347 + 39 +4oo Member bank reserves-- 18,909 - 8 + l4 Required reserves (estimated) 18,267 •» mrn Excess reserves (estimated) 642 - 8 — «• 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 21,741 Treasury cash holdings 787 Treasury currency outstanding 5,018 Member bank) - Required (est.) 18,296 Money in circulation 30,209 reserves ) - Excess (est.) 439 On April 18, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,779 million, a decrease of $18 million for the week and an increase of $703 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 FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Change since Apr. l8, Apr. 11, Apr. 20, 1956 1956 1955 A SS E TS „ Xold certificate account 20,215,986 + 77,883 Redemption fund for F. R , notes 837,661 - 2,215 - 12,566 Total gold certificate reserves 21,053,647 - 2,215 + 65,317 F. R. notes of other Banks 311,193 + 12,866 + 82,982 Other cash 382,194 + 6,609 - 3,346 Discounts and advances 803,142 - 191,497 + 233,861 Industrial loans 876 + 216 + 236 Acceptances: Bought outright 14,971 30 898 Held under repurchase agreement - - - - - 2,512 U. S. Government securities: Bought outright— Bills 471,070 70,430 412,174 Certificates 10,932,699 - - + 972,558 Notes 9,153,913 -- - 805,558 Bonds 2,801,750 - " Total bought outright 23,359,432 70,430 245,174 Held under repurchase agreement Total U. S. Government securities 23,359,132 - 70l%30 - 245,174 Total loans and securities 24,178,421 - 261,741 - 14,487 Due from foreign banks 22 - - Uncollected cash items 5,257,635 + 973,233 + 613,166 Bank premises 65,309 + 334 + 9,24l Other assets 134,668 + 9,203 - 8,691 TOTAL ASSETS 51,383,089 738,289 + 744,182 L I A B I L I T I ES Federal Reserve notes 25,983,535 47,699 + 516,447 - Deposits: Member bank reserves 18,734,699 + 44,444 - 74,883 U. S. Treasurer—general account 443,957 - 74,531 - 59,434 Foreign 355,686 + 42,242 - 52,656 Other 308,743 + 2,105 - 112,806 Total deposits 19,843,085 + 14,260 - 299,779 Deferred availability cash items 4,275,842 + 763,677 + 424,192 Other liabilities and accrued dividends 17,715 «• 425 + 101 TOTAL LIABILITIES 50,120,177 + 729,813 + 640,961 C A P I T AL A C C O U N TS Capital paid in 313,486 + 99 + 21,503 Surplus (Section 7) 693,612 — — + 32,711 Surplus (Section 13b) 27,543 - - Other capital accounts 228,271 + 8,377 + 49,007 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,383,089 + 738,289 + 744,182 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9% - - - .Vf> Contingent liability on acceptances purchased for foreign correspondents 46,847 + 4,423 + 19,011 Industrial loan commitments 2,527 + 84 - 894 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL l8, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of tjie agreements.) Discounts and Industrial U, S. Government advances loans Acceptances securities Within 15 days 797,787 1 IT,"557 ' 99,700 l6 days to 90 days • ~ • . 5,355 374 10,404 371,370 91 days to 1 year 131 19,372,764 Over 1 year to 5 years 370 1,087,127 Over 5 years to 10 years 1,013,614 DigitizedO fvore FrR A1SE0R years 1,414,857 http://fraser.stlouTisofetd.aolrg / 803,142 876 14,971 ~ 23,359,43^ ' Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON APRIL l8 ,1956 H.4.l("b) (In thousands of dollars) Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s K C a i ns t a y s Dallas Fran S c a i n s co A S S E TS Gold certificate account 20,215,986 1009,332 5,405,312 1178,080 1816,125 1240,442 912,967 3367,345 852,608 371,207 847,332 695,018 2520,218 Redemption fund for F. R. notes 837,661 51,734 173,658 58,582 73,934 61,544 52,268 157,366 43,716 23,471 41,093 26,382 73,913 Total gold certificate reserves 21,053,647 1061,066 5,578,970 1236,662 1890,059 1301,986 965,235 3524,711 896,324 394,678 888,425 721,400 2594,131 F.R. notes of other Banks 311.193 13,266 76,281 27,431 16,586 22,523 71,625 20,882 10,215 5,032 7,212 13,332 26,808 Other cash 382.194 27,453 90,991 17,724 30,449 18,792 27,509 61,367 23,556 8,362 12,4i8 18,288 45,285 Discounts and advances 803,142 15,340 97,440 41,545 32,115 13,780 27,677 451,465 15,950 45,900 17,430 23,900 20,600 Industrial loans 876 300 521 55 Acceptances— Bought outright 14,971 14,971 -- -- -- " - - U. 8. Govt, securities: Bought outright— Bills 471,070 25,893 118,557 28,307 40,744 29,004 24,223 82,188 19,667 10,640 20,411 18,722 52,714 Certificates 10,932,699 600,927 2,751,520 656,957 945,602 673,115 562,148 1907,450 456,440 246,937 473,714 434,509 1223,38c Notes 9,153,913 503,154 2,303,839 550,068 791,749 563,597 470,685 1597,102 382,176 206,759 396,639 363,813 1024,332 Bonds 2,801,750 154,001 705,139 168,360 242,332 172,501 144,063 488,827 116,973 63,283 121,400 111,353 313,516 Total 23,359,432 1283,975 5,879,655 1403,692 2020,427 1438,217 1201,119 4075,567 975,25b 527,619 1012,164 928,397 2613,944 Held under repurchase agreement Total U. S. Govt, sees. 23,359,432 1283,975 5,879,055 1403,692 2020,427 1438,217 1201,119 4075,56? 975,256 527,619 1012,l64 928,397 2613,944 Total loans & securities 24,178,421 1299,615 5,991,466 1445,758 2052,542 1451,997 1228,796 4527,032 991,206 573,574 1029,594 952,297 2634,544 Due from foreign banks 22 l l/ 6 2 2 1 1 3 1 1 1 1 c Uncollected cash items 414,384 1,0397592 313,178 474,251 396,277 440,226 839,539 209,531 118,873 235,167 258,239 518,37^ 5,257,635 Bank premises 65,509 ?SS MS %% ftSS !:% Other assets 134,668 2828,347 12,817,834 3053,433 4481,714 3205,730 2745,120 9004,118 2139,659 1107,118 2182,391 1972,851 5844,774 TOTAL ASSETS 51,383,089 1/ 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 FEDERA LRESERVE BANK ON APRIL l8 ,1956 H.4.1(c) (in thousands of dollars) Phila- ! Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES Federal Reserve notes 25,983,535 1556,709 5,923,240 1759,749 2421,607 1966,842 1303,190 5040,276 1192,758 515,733 1024,791 680,295 2598,345 Deposits: Member "bank reserves 18,73^,699 805,129 5,375,848 867,650 1472,531 802,683 953,322 2998,833 676,866 417,184 873,114 952,051 2539,488 U.S.Treas.-gen. acct. 28,855 64,187 41,128 40,582 29,563 39,893 45,910 20,018 24,284 24,686 36,359 48,492 443,957 Foreign 355,686 20'178 1/111,473 24,624 31,122 17,442 15,048 47,880 12,996 8,550 12,996 17,442 35,935 Other 308,743 3,531 " 237,558 0,6m 7AI 3,608 1*737 1,669 7,100 ,, m W Z& ?8? Total deposits 19,843,085 13577593 5,789,066 943,003 1545,016 853,296 1010,000 3094,292 716,980 450,988 912,172 1006,841 2663,738 'Deferred availability 751,187 260,416 399,920 317,978 372,999 684,412 179,916 107,291 194,469 222,810 446,509 cash items 4,275,842 337,935 Other liabilities and accrued dividends 17,715 1JL,*2 6£6 UO *+ 4,98 8, yuu y±9J11L 1,8 7J0L » w f 8v2>4 ut-T 8s3 2 •2 ,956 539 514 591 835 1,589 TOTAL LIABILITIES 50,120,177 2753,603 12,468,481 2964,079 4368,413 3138,940 2687,021 8821,936 2090,193 107%,526 2132,023 1910,781 5710,181 CAPITAL ACCOUNTS 16,310 91,218 20,046 29,825 14,321 14,396 41,751 10,762 6,992 12,586 16,998 38,281 Capital paid in 313,^86 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 3 Oil 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 Surplus (Section 13b) 27,543 13,756 54,989 15,328 19,907 14,108 12,100 37,108 10,534 6,941 10,685 9,918 22,897 Other capital accounts 228,271 TOTAL LIABILITIES AND 2828,347 12,817,834 3053,433 4481,714 3205,730 2745,120 9004,118 2139,659 1107,118 2182,39 11972,851 5844,774 CAPITAL ACCOUNTS 51,383,089 Conting. liab. on acceptances purchased for foreign correspondents 46,847 2,785 2/ 13,146 3,398 4,295 2,407 2,077 6,608 1,794 1,180 1,794 2,407 4,956 2.128 Industrial loan commit. 2.527 222 247 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,961,898 1606,112 6,161,501 1841,934 2515,609 2023,983 1361,822 5132,710 1244,046 566,155 1056,878 721,915 2729,233 Collat. for F. R. notes: Gold certificate acct. 11,413,000 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 74,925 L !. 41,545 - -- -- -- 15,950 - 17,430 U. S. Govt, securities JJaQ35,OOO Total collateral ^8,522,9251 l/ After deducting $ 2441,8 8 000 participations of other Federal Reserve Banks. 2/ After deducting $33, 701^000.participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis