H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM "Hay 10, 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 tank reserves for the week ending May 9 increased $8l million to $l8,848 million. Estimated required reserves decreased $46 million; and estimated excess reserves increased $127 million to $591 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $523 million, compared with $625 million the week before. The principal changes supplying reserves were decreases of $64 million in "other" deposits with Federal Reserve Banks and $20 million in Treasury deposits with Federal Reserve Banks, and increases of $53 million in Federal Reserve holdings of U. S. Government securities, $25 million in member bank borrowings, and $25 million in gold stock. The principal offsetting changes were an increase of $115 million in money in circulation and a decrease of $20 million in Federal Reserve float. Total Reserve Bank credit increased $59 million. As of Wednesday, May 9, U. S. Government securities held under repurchase agreement were $109 million lower than a week earlier and member bank borrowings were $102 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items May 9, 1956 May 2, 19561May 11, 1955 (in millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,252 + 9 -450 Held under repurchase agreement 100 + 44 - 37 Acceptances--bought outright 14 - 1 Loans, discounts, and advances-- Member bank borrowings 1,114 + 25 +825 Other 1 - 84 Float 844 - 20 +148 Total Reserve Bank credit 25,325 + 59 +401 Gold stock 21,768 + 25 + 97 Treasury currency outstanding 5,025 + 2 + 26 5271IS TEB +523 Money in circulation 30,296 +115 +437 Treasury cash holdings 781 - 5 - 30 Treasury deposits with F. R. Banks 555 - 20 +275 Foreign deposits with F. R. Banks 334 - 4 - 29 Other deposits with F. R. Banks 321 - 64 -121 Other F. R. account s(net) 982 - 16 +62 33,270 T~B +595 Member bank reserves-- 18,848 +81 - 72 Required reserves (estimated) 18,257 T8l Excess reserves (estimated) 591 +127 -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 21 768 Treasury cash holdings 792 Treasury currency outstanding 5^025 Member bank) - Required (est.) 18,214 Money in circulation 30,317 reserves ) - Excess (est.) 403 On May 9, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,738 million, an increase of $11 million for the week and an increase of $570 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 May 9, May 2, May 11, 1956 1956 1955 A S S E TS Gold certificate account 20,240,986 + 34,997 + 102,884 Redemption fund for F. R. notes 841,193 62 10,981 ~ •- Total gold certificate reserves 21,082,179 + 34,935 + 91,903 F. R. notes of other Banks 270,808 - 24,846 + 69,734 Other cash 362,856 21,530 + 1,902 - Discounts and advances 1,003,066 + 102,495 + 638,107 Industrial loans 968 + 27 + 326 Acceptances--bought outright 14,345 + 44o + 140 U. S. Government securities: Bought outright-- Bills 363,470 617,080 - - Certificates 10,932,699 + 972,558 Notes 9,153,913 805,558 — - - Bonds 2,801,750 -- Total bought outright 23,251,832 450,080 -- - Held under repurchase agreement 20,600 109,250 35,072 - - Total U. S. Government securities 23,272,432 109,250 485,152 - - Total loans and securities 24,290,811 6,288 + 153,421 Due from foreign banks 22 -- Uncollected cash items 4,214,228 433,599 + 251,451 ** Bank premises 65,518 117 9,507 Other assets 173,628 + 11,841 + 9,902 TOTAL ASSETS 50,460,050 439,370 4" 587,820 - L I A B I L I T I ES Federal Be serv enotes "" 26,031,661 + 69,262 + 488,971 Deposits: Member bank reserves 1188,,661166,,994400 44,043 60,374 - - U. S. Treasurer—general account 498,223 - 87,030 + 114,987 Foreign 335,586 + 832 52,741 Other 322,476 - 52,027 - 97,910 Total deposits 19,773,225 - 182,268 - 96,038 Deferred availability cash items 3,436,570 335,253 + 115,710 - Other liabilities and accrued dividends 18,869 + 200 + 176 TOTAL LIABILITIES 49,260,325 448,059 + 508,819 - C A P I T AL A C C O U N TS Capital paid~in " 314,051 + 251 + 21,84? Surplus (Section 7) 693,612 — + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 164,519 + 8,438 + 24,443 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50.460,050 - 439,370 + 587,820 Ratio of gold certificate reserves to deposit 46.0# + .2# ~ .2# and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents 44,508 + 1,590 + 18,287 Industrial loan commitments 2,432 - 27 983 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 9, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordence with maximum maturity of the agreements*) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 991,926 1 5,250 96,170 if days to 90 days 11,140 427 9,095 287,900 9L days to 1 year 170 -- 19,372,764 Over 1 year to 5 years -- 37O -- 1,087,127 Over 5 years to 10 years -- -- -- 1,013,614 Over 10 years -- -- 1,414,857 Total 1,003,066 968 14,345 23,272,432 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 1956 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,240,966 992,023 5,331,351 1137,788 1798,551 1257,143 907,042 3505,403 825,833 381,768 838,017 648,212 2617,855 Redemption fund for F. R. notes 841,193 51*404 172,282 58,040 73,446 69,330 51,995 156,856 43,554 23,445 40,962 26,254 73,625 Total gold certificate reserves 21,082,179 1043,427 5,503,633 1195,828 1871,997 1326,473 959,037 3662,259 869,387 405,213 878,979 674,466 2691,480 F.R. notes of other Banks 270,808 13,178 63,084 24,623 12,058 19,543 61,355 21,323 9,766 4,499 4,971 11,815 24,593 Other cash 362,856 29,113 92,907 16,796 27,042 17,359 27,946 55,688 22,267 9,132 10,862 15,136 38,608 Discounts and advances 1,003,066 55,885 131,165 101,610 100,260 19,974 36,577 359,565 44,630 35,175 65,125 42,600 10,500 Industrial loans 968 300 613 55 Acceptances— Bought outright 14,345 14,345 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 1223,380 Notes 9A53,913 503,154 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 63,283 121,400 111,353 313,518 Total 23,251,832 1278,060 5,851,974 1397,226 2011,121 1431,592 1195,586 4056,794 970,764 525,189 1007,502 924,121 2601,903 Held under repurchase agreement 20,600 Total U. S. Govt, sees. 23,272,432 1278,060 5,872,574 1397,226 2011,121 1431,592 1195,566 4056,794 970,764 525,189 1007,502 924,121 2601.903 Total loans & securities 24,290,811 1334,245 6,018,084 1499,449 2111,381 1451,566 1232,163 4416,359 1015,394 560,419 1072,627 966,721 2612,403 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 11 2 Uncollected cash items 4,214,228 353,038 721,901 274,916 367,984 341,628 329,421 683,414 187,837 113,643 198,006 211,979 430,461 Bank premises 65,518 5,515 8,052 4,960 6,542 6,208 4,028 6,007 3,557 3,610 3,912 2,463 10,664 Other assets 173,628 8,876 39,874 9,650 14,265 10,045 9,321 31,196 6,642 3,647 7,053 7,863 25,196 TOTAL ASSETS 50,460,050 2787,39332,447,541 3026,224 4411,271 3172,823 2623,272 8876,249 2114,851 1100,164 2176,411 1890,444 5833,407 Dyi giAtizfetd eforr FR A&SeEdRu cting$lb,000 participations of other Federal Keserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 9, 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 L I A B I L I T I ES Federal Reserve notes 26,031,661 1553,149 5,931,020 1754,280 2428,106 1972,912 1308,084 5048,393 1191,506 518,319 1030,880 681,855 2613,157 Deposits: Member bank reserves 18,616,940 800,530 5,235,206 882,503 1494,807 802,547 918,799 3000,599 673,084 408,181 883,899 920,318 2596,467 U.S.Treas.—gen. acct. 498,223 38,054 75,238 35,463 30,524 39,664 37,974 64,771 27,972 32,937 40,429 30,034 45,163 Foreign 335,586 19,116 1/104,225 23,328 29,484 16,524 14,256 45,360 12,312 8,100 12,312 16,524 34,045 Other 322,476 2,427 " 249,355 9,332 1,467 3,295 1,979 1,202 7,516 490 2,04l 1,055 42,317 5,664,024 950,626 1556,282 862,030 973,008 3111,932 720,884 449,700 938,601 967,931 2717,992 Total deposits 19,773,225 860,127 Deferred availability 301,385 515,736 234,881 316,730 273,619 286,302 541,369 154,706 100,264 158,548 180,214 372,816 cash items 3,436,570 Other liabilities and 18,869 1,120 4,916 949 2,125 870 778 3,672 630 771 679 758 1,601 accrued dividends 2715/781 12,115^696 2940,736 4303,243 3109,431 2568,172 0705,366 2067,726 1069,06 22120,700 1030,758 5705,566 49,260,325 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 314,051 16,348 91,353 20,062 29,849 14,326 14,430 4l,9l8 10,764 7,002 12,598 17,046 38,355 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 164,519 10,586 37,346 11,446 l4,6l0 10,705 9,067 25,642 8,191 5,441 7,928 7,486 16,071 TOTAL LIABILITIES AND 2787,393 12,447,541 3026,224 4411,271 3172,823 2623,272 8876,2492114,851 1100,164 2176,411 1890,444 5833,407 CAPITAL ACCOUNTS 50,460,050 Conting. liab. on acceptances purchased for 1,954 6,216 1,687 1,110 2,264 4,662 foreign correspondents 44,508 2,620 2/ 12,806 3,197 4,04l 2,264 Industrial loan commit. 2,432 59 245 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,925,801 1601,334 6,147,946 1833,465 2515,709 2025,233 1362,366 5131,l84 1235,947 565,325 1056,563 724,497 2726,232 Collat. for F. R. notes: Gold certificate acct. 11,513 ,000 640,000 2 870,000 725,000 1070,000 845,000 500,000 2200,000 450,000 150,000 280,000 283,000 1500,000 101,6l0 - - -- -- -- 44,630 -- 65,125 Eligible paper 211, 365 U. S. Govt, securities 16,935 ,000 1200,000 3 600.000 1200,000 1500,000 1250,000 1000,000 3000,000 900.000 460,000 800,000 525,000 1500,000 "6.470.000 2026.610 2570.000 2095.000 1500.000 5200.000 1194.610 610.000 1145.125 OOO.OOO 3000,000, Total collateral 28,659,365 1840.000 l/ After deducting $231,336,000 participations of other Federal Reserve Banks. 2/ After deducting $31,702,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis