H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM May 3, 1956 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BARK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The weekly average of member ban kreserves for the week ending May 2 decreased $117 million to $18,767 million .Estimated required reserves increased $14 million; and estimated excess reserves decreased $131 millio nto $464 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $625 million, compared with $465 millio nthe week before. The principal changes reducing reserves were a decrease of $153 million in Federal Reserve float, and increases of $54 millio nin "other" deposit swith Federal Reserve Banks and $26 million in money in circulation. The principal offsetting changes were a decrease of $80 millio nin "other" F. R .accounts (net), and increases of $29 million in member ban kborrowings and $17 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $108 million. As of Wednesday, May 2, U. S. Government securities held under repurchase agreement were $130 million higher than a week earlie rand member bank borrowings were $43 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items May g, 1956 Apr. 25, 1956jMay 4, 1955 (In trillions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,243 - 39 -370 Held under repurchase agreement 56 + 56 + 3 Acceptances—bought outright 14 - 3 Loans, discounts, and advances-- Member bank borrowings 1,089 + 29 4625 Other 1 - 80 * «• Float 864 -153 +121 Total Reserve Bank credit 25,266 -108 +295 Gold stock 21,743 + 1 + 72 Treasury currency outstanding 5,023 + 4 + 23 52,032 -102 +390 Money in circulation 30,l8i + 26 4417 Treasury cash holdings 786 + 4 - 32 Treasury deposits with F. R .Banks 575 + 6 -100 Foreign deposits with F. R. Banks 338 + 3 - 22 Other deposits with F. R. Banks 385 + 54 - 58 Other F. R. account s(net) 998 - 80 + 75 33,264 + 14 +282 Member bank reserves-- 18,767 -117 +108 Required reserves (estimated) 18,303 + l4 +102 Excess reserves (estimated) 464 -131 + 6 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 21,743 Treasury cash holdings 795 Treasury currency outstanding Member bank) - Required (est.) 18,371 5,'025 Money in circulation reserves ) - Excess (est.) 290 30,209 On May 2, 1956, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,727 million, a decrease of $68 million for the week and an increase of $586 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 May 2, Apr. 25, May 4, 1956 1956 1955 A S S E TS Gold certificate account 20,205,989 + 3 + 77,888 Redemption fund for F. R. notes 841,255 • 3,631 - 13,351 Total gold certificate reserves 21,047,244 - 3,620 + 64,537 F. R. notes of other Banks 295,654 - 45,245 + 98,274 Other cash 384,386 • 12,306 + 9,569 Discounts and advances 900,571 + 43,176 + 180,691 Industrial loans 941 - 14 + 297 Acceptances—bought outright 13,905 + 237 - 2,226 U. S. Government securities: Bought outright— Bills 363,470 - - - 579,774 Certificates 10,932,699 - - + 972,558 Notes 9,153,913 - - - 805,558 Bonds 2,801,750 —— -- Total bought outright 23,251,832 *•»— - 412,774 Held under repurchase agreement 129,850 + 129,850 + 11,850 Total U. S. Government securities 23,381,682 + 129,850 - 400,924 Total loans and securities 24,297,099 + 173,249 222,162 Due from foreign banks 22 — - - Uncollected cash items 4,647,827 + 43,916 + 665,837 Bank premises 65,401 + 13 + 9,^05 Other assets 161,787 + 12,112 + 5,180 TOTAL ASSETS 50,899,420 + 168, in + 630,640 L I A B I L I T I ES Federal Reserve notes ~ "* 25,962,399 + 75,266 + 476,084 Deposits: Member bank reserves 18,660,983 + 173,507 mm 462,150 U. S. Treasurer--general account 585,253 + 14,425 4- 127,025 Foreign 334,754 - 2,299 - 22,276 Other 374,503 + 61,797 - 59,942 Total deposits 19,955,493 + 247,430 - 417,343 Deferred availability cash items 3,771,823 - 75,095 + 495,739 Other liabilities and accrued dividends 18,669 + 756 + 1,098 TOTAL LIABILITIES 49,708,384 + 248,357 + 555,57% C A P I T AL A C C O U N TS Capital paid'in " 313,800 + 205 + 21,660 Surplus (Section 7) 693,612 + 32,711 — — Surplus (Section 13b) 27,543 • - Other capital accounts 156,081 - 80,451 + 20,691 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,899,420 + 168,111 + 630,640 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.8# .4$ - Contingent liability on acceptances purchased for foreign correspondents 42,918 12 + 15,356 Industrial loan commitments 2,459 + 14 - 954 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 2. 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 891,121 1 5,300 213,550 16 days to 90 day s9,4-50 429 8,605 279,770 91 days to 1 year — l4l — 19,372,764 Over 1 year to 5 years — 370 — 1,007,127 Over 5 years to 10 year s-- -- — l,013,6l4 Over 10 years -- -- -- l,4l4,857 Total 900,571 ' Wi 13,905 23,381,682 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 2, 1956 H.4.1(b) (In thousands of dollars) Total Boston New York Phila- Cl l e a v n e d - Richmond $ Atlanta Chicago Lo S u t i . s M a i p n o n li e s - Ka C n i s t a y s Dallas Fran S c a i n s co A S S E TS Gold certificate account 20,205,989 934,224 5,533,841 1115,649 1800,113 1230,458657 ,367 3470,152 827,565 385,431 859,416 676,082 Re F de . m p R t . i o n n o t f e u s n d for 841,255 51,407 172.299 58.041 73,453 69,337 51,999 156,862 43,560 23,445 40,966 26,256 73,630 Total gold certificate reserves 21,047,244 985,631 5,706,140 1173,690 1873,561629 9,793 909,366 3627,0148 71,125 408,876 900,382 702,338 F.R. notes of other Banks 295,654 15,933 69,209 27,133 16,971 21,058 65,328 24,698 8,983 5,072 4,900 11,720 24,649 Other cash 384,386 29,421 94,501 18,633 31,064 19,014 30,090 59,065 22,865 8,801 11,872 17,290 41,770 Discounts and advances 900,571 25,795 69,425 108,535 61,820 23,755 66,050 346,605 35,200 19,125 57,911 51,050 35,300 Industrial loans 941 300 586 55 Acceptances — Bought outright 13,905 13,905 U. S. Govt, securities: Bought outright— Bills 363,470 19,978 91,476 21,841 31,438 22,379 18,690 63,415 15,175 8,210 15,749 14,446 40,673 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 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 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 Total 23,251,832 Held under repurchase agreement 129,850 129,850 1278,060 5.981,824 1397.226 2011,121 1431,592 1195,586 4056,794 970,764 525,189 1007,502 924,121 2601,903 'Total U. S. Govt, sees. 23,381,682 1304,155 6,065,154 1506,347 2072,94 11455,347 1261,636 4403,39 91005,964 544,36 91065,413 975,171 2637,203 Total loans & securities 24,297,099 l l /6 2 2 1 1 3 1 1 1 1 2 Due from foreign banks 22 35a4,t814 e83974 89 a 296s,507 441a,475s 367, 150f 36c4,12s0 757, 358 1a88,20s5 1 08,1a37 s217,7 26 2a33,6s11 4 79,23a5 s Uncollected cash items 4,647,827 Bank premises 65,401 "Other assets 161,787 2703,951 12,819,65 13036,724 4456,024 3177,968 2643,256 8906,776 2106,81 21082,285 2210,736 1950,057 5805,180 TOTAL ASSETS 50,899,420 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 FEDERAL RESERVE BANK ON MAY 2, 1956 H.lt.l(c) ;Phi is- r]eve- . St. Minne- Kansas „ San Total Boston New York | delT)hia land Richmond Atlanta vhicago ^ouis apolis City Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 25,962,399 1550,144 5,932,116 1752,914 2416,704 1962,711 1300,359 5035,851 1191,432 514,948 1028,043 680,511 2596,666 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: 1482,295 399,135 957,359 MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,660,983 691,913 5,426,875 901,176 794,790 914,880 2991,586 666,221 892,082 2542,671 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 585,253 37 957 131 028 31 525 48,445 45,177 44,253 53,491 26,441 27,058 45,190 36,720 57,958 35,305 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 334,754 19 824 1/ 94 825 24 192 30,576 17,136 14,784 47,040 12,768 8,400 12,768 17,136 1,551 1,491 7,119 . 735 1»295 OOOOOttttthhhhheeeeerrrrr 374,503 2*257 300,862 10,093 2,867 2,680 5,691 37,862 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,955,493 751,951 5,953,590 966,986 1564,183 859,783 975,468 3093,608 712,549 435,338 955,731 1012,510 26^3,796 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 604,433 179,109 406,239 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,771,823 329,240 599,599 231,003 365,564 291,763 311,878 155,478 100,508 197,009 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 18,669 1,432 4,818 858 2,243 787 859 3,667 541 581 627 669 1,587 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,708,384 2632,767 12,490,123 2951,761 4348,694 3115,044 2588,564 8737,559 2060,000 1051,375 2163,510 1890,699 5678,288 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 313,800 16,334 91,227 20,061 29,849 14,326 l4,4l8 41,828 10,763 6,997 12,597 17,046 38,354 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 3 011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 156,081 10!172 35*155 10,922 13,912 10,237 8,671 24,066 7,879 5,254 7,532 7,158 15,123 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 50,899,420 2703,951 12,819,651 3036,724 4456,024 3177,968 2643,256 8906,776 2106,812 1082,285 2210,736 1950,057 5805,180 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 42,918 2,519 2/ 12,430 3,074 3,886 2,178 1,879 5,978 1,623 1,067 1,623 2,178 4,483 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,459 __ — - 86 245 - -- -- -- — 2,128 F1 E11D .ITE\TTRVrA") LA T nT"h)o &TTn >VO &T ?TA) UT7&TP IAN C * l b U 1TY1/*Ti 'u'Q uAu ufiTn1 iOT dTlX iH^Q FF.. RR.. nnootteess oouuttssttaannddiinngg 26,915,130 1598,058 6,170,049 1835,813 2519,249 2010,269 1361,757 5124,937 1239,992 565,053 1052,470 720,438 2717,045 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 201,646 108,535 -- -- -- -- 35,200 -- 57,911 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 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 17,035,000 TToottaall ccoollllaatteerraall 28,649,646 1 fil mnnn £ Lvn.mn PR70.000 2095,000 1500.000 5200.000 1185.200 610,000 1131*211 808^000 3.0CQ..OCO_ l/ After deducting $239,904,000 participations of other Federal Reserve Banks. 2/ After deducting $30,488,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis