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 17, 1956 WEEKLY AVERAGES OF MEMBER BAM RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member ban kreserves for the week ending May 16 decreased $138 million to $18,710 million .Estimated required reserves decreased $45 million; and estimated excess reserves decreased $93 millio nto ^453 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $613 million, compared with $568 million the week before. The principal, changes reducing reserves were decreases of $73 million in Federal Reserve holdings of U. S. Government securities and $48 million in member bank borrowings, and increases of $63 million in money in circulation and $44 million in foreign deposits with Federal Reserve Banks. The principal offsetting change was an increases of $93 million in Federal Reserve float. Total Reserve Bank credit decreased $27 million. As of Wednesday, May 16, holdings of U. S. Government securities bought outright were $27 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $51 million higher, and member bank borrowings were $3^7 million lower. •• , • Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items May 16, 1956 May 9, 1956 jMay 18, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,226 - 26 -438 Held under repurchase agreement 53 - 47 + 30 Acceptances -bought outright 15 + 1 Loans, discounts, and advances— Member bank borrowings 1,066 - 48 +830 Other 1 - 80 — — — Float 937 + 93 + 49 Total Reserve Bank credit 25,298 - 27 +390 Gold stock 21,769 + 1 + 97 Treasury currency outstanding 5,026 + 1 + 27 52,093 - 25 +5l4 Money in circulation 30,359 + 63 +482 Treasury cash holdings 789 + 8 - 32 Treasury deposits with F. R. Banks 563 + 8 +253 Foreign deposits with F. R. Banks 378 + 44 - 39 Other deposits with F. R. Banks 314 - 7 - 63 Other F. R. account s(net) 980 - 2 + 56 33,383 +113 +657 Member bank reserves-- 18,710 -138 -143 Required reserves (estimated) 18,257 - 45 + 50 Excess reserves (estimated) 453 - 93 -193 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 21,769 Treasury cash holdings 786 Treasury currency outstanding 5,027 Member bank) - Required (est.) ^8 284 Money in circulation 30,322 reserves ) - Excess (est.) #193 On May 16, 1956, U. S. Government securities held is custody by the Federal Reserve Banks for foreign account were $3,722 million, a decrease of $16 million for the week and an increase of $515 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 OP CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since May 16, May 9, May 18, 1956 1956 1955 A S S E TS Gold certificate account 20,249,988 + 9,002 + 111,885 Redemption fund for F. R. notes 838,389 - 2,8o4 - 13,456 Total gold certificate reserves 21,088,377 + 6,19ti + 98,429 F. R» notes of other Banks 276,100 + 5,292 + 73,074 Other cash 365,590 + 2,734 + 2,419 Discounts and advances 655,830 347,236 + 331,649 - Industrial loans 953 15 + 320 Acceptances—bought outright 14,345 - - + 451 U. S. Government securities: Bought outright— . . Bills 336,470 27,000 554,580 Certificates 10,932,699 -- +2,658,924 Notes 9,153,913 -2,491,924 -- Bonds 2,801,750 - • -- Total bought outright 23,224,832 - 27,000 - 387,580 Held under repurchase agreement 71,650 + 51,050 + 71,650 Total U. S. Government securities 23,296,482 + 24,050 315,930 • Total loans and securities 23,967,610 - 323,201 + 16,490 Due from foreign banks 22 -- Uncollected cash items 5,515,459 +1,301,231 + 678,337 Bank premises 66,283 + 765 + 9,864 Other assets 182,131 + 8,503 + 31,444 TOTAL ASSETS 51,461,572 +1, 001,522 + 910,057 L I A B I L I T I ES Federal Reserve notes 26,042,276 + 10,615 + 507,165 Deposits: Member bank reserves 18,477,280 • 139,660 • 402,001 U. S. Treasurer--general account 564,237 + 66,014 + 172,518 Foreign 338,286 + 2,700 68,937 * Other 312,145 - 10,331 + 4,799 Total deposits 19,691,948 - til,277 - 293,621 Deferred availability cash items 4,500,309 +1,063,739 + 613,602 Other liabilities and accrued dividends 18,689 - 180 + 911 TOTAL LIABILITIES 50,253,222 + 992,897 + 828,057 C A P I T AL A C C O U N TS Capital paid in 314,439 + 388 + 21,230 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 - - m-mm Other capital accounts 172,756 + 8,237 + 28,059 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,461,572 4-1, 001,522 + 910,057 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 46.1# + .1# Contingent liability on acceptances purchased for foreign correspondents 45,842 + 1,334 + 19,315 Industrial loan commitments 2.445 + 13 1,057 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, MAY l6, 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 643,463 364 5,676 239,720 16 days to 90 days 12,325 69 8,669 168,400 91 days to 1 year 39 151 19,372,764 Over 1 year to 5 years 369 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Total 655,830 953 14,345 23,296,482 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 MAY l6, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,249,988 985,056 5,290,450 1134,685 1850,944 1243,066 886,858 3677,213 834,689 •348;589 823,536 674,983 2499,979 Redemption fund for F. R. notes 838,389 51,193 171,484 57,701 74,148 68,060 51,834 156,544 43,462 . 83,421 40,886 26,199 73,457 Total gold certificate reserves 21,088,377 1036,249 5,461,934 1192,386 1925,092 1311,126 938,692 3833,757 878,151 371,950 864,422 701,182 2573,436 F.R. notes of other Banks 276,100 13,431 62,441 24,067 12,833 20,273 60,186 19,715 10,413 6,560 6,308 11,186 28,687 Other cash 365,590 28,855 94,090 15,968 28,239 18,831 26,784 55,997 22,445 8,809 10,969 16,137 38,466 Discounts and advances 655,830 36,190 25,870 67,480 74,760 14,719 43,277 173,725 29,055 64,740 74,064 36,950 15,000 Industrial loans 953 300 600 53 Acceptances— Bought outright 14,345 14,345 -- -- -- - - -- -- -- U. S. Govt, securities: Bought outright— Bills 336,470 18,494 84,681 20,218 29,102 20,717 17,302 58,704 14,048 7,600 14,579 13,373 37,652 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 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 63,283 121,400 111,353 313,518 Total 23,224,832 1276,576 5,845,179 13957603 2008,785 1429,930 1194,198 4052,083 969,637 524,579 1006,332 923,048 2598,882 Held under repurchase agreement 71,650 71,650 mm •» «* — mm mm mm mm- Total U. S. Govt, sees. 23,296,482 1276,576 5,916,829 1395,603 2008,785 1429,930 1194,198 4052,083 969,637 524,579 1006,332 923,048 2598,882 Total loans & securities 23,967,610 1313,066 5,957,044 1463,683 2083,545 1444,649 1237,475 4225,808 998,692 589,372 1080,396 959,998 2613,882 Due from foreign "banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,515,459 396,652 1,0157049 344,199 559,828 447,714 429,818 906,374 224,988 135,405 246,402 263,876 545,154 Bank premises 66,283 5,515 8,328 4,960 6,530 6,377 4,031 6,007 3,557 3,857 3,915 2,522 10,684 Other assets 182,131 9,362 42,416 10,264 15,088 10,668 9,881 32,636 7,057 3,893 7,448 8,491 24,927 TOTAL ASSETS 51,461,572 2803,13112,641,308 3055,529 4631,157 3259,639 2706,86 89080,297 2145,304 1119,847 2219,861 1963,393 5835,238 l/ After deducting $16,000 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 MAY l6, 1956 (In thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York | Richmond Atlanta Chicago apolis City Dallas delphia land Louis Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,042,276 1555,157 5,936,194 1752,462 2431,323 1970,452 1305,247 5059,140 1189,623 519,007 1030,840 681,656 2611,175 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,477,280 766,039 5,200,845 874,226 1515,470 804,712 918,150 3020,484 670,947 404,701 883,810 929,513 2488,383 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 564,237 45,870 87,452 34,144 53,591 37,672 48,271 53,180 35,375 34,040 43,069 47,336 44,237 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 338,286 19,588 1/101,213 23,904 30,212 16,932 14,608 46,480 12,616 8,300 12,616 16,932 34,885 OOOOOttttthhhhheeeeerrrrr 312,145 3,047 239,901 9,283 914 2,420 1,548 1,066 6,232 622 4,497 1,026 41,589 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,691,948 834,544 5,629,411 941,557 1600,187 861,736 982,577 3121,210 725,170 447,663 943,992 994,807 2609,094 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,500,309 340,235 736,299 274,621 489,021 362,756 362,633 724,078 182,557 121,350 196,429 225,933 484,397 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 18,689 1,160 5,369 878 1,900 8e6 872 3,410 558 534 650 895 1,637 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,253,222 2731,096 12,307,273 2969,518 4522,431 3195,770 2651,329 8907,838 2097,908 1088,554 2171,911 1903,291 5706,303 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 314,439 16,350 91,362 20,062 29,846 14,337 l4,46o 41,920 10,764 7,008 12,601 17,l4l 38,588 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 172,756 11,007 39,527 11,969 15,311 11,171 9,476 27,216 8,462 5,626 8,252 7,807 16,932 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,461,572 2803,131 12,641,308 3055,529 4631,157 3259,639 2706,86 89080,297 2145,304 1119,847 2219,861 1963,393 5835,238 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt????? aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 45,842 2,702 2/ 13,141 3,298 4,168 2,336 2,015 6,412 1,740 1,145 1,740 2,336 4,809 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2.445 —— — — 72 2^4 5 — — —» — — —— — — 2.128 — — — — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 26,933,704 1603,359 6,146,064 1828,298 2520,838 2023,306 1364,572 5138,721 1232,408 566,199 1056,782 720,016 2733,141 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 170,569 —— —— 67,480 ~ —— —— —— 29,055 — — 74,034 —— — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 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 TToottaall ccoollllaatteerraall 28,618,569 1840,000 6,470,000 1992,480 2570,000 2095,000 1500,00 05200,000 1379,05 5610,000 1154,034 808.000 3000,000 1/ After deducting $237,048,000 participations of other Federa lReserve Banks. 2/ After deducting $32,701,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis