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 24, 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 May 23 increased $99 million to $18,809 million. Estimated required reserves increased $l6 million; and estimated excess reserves increased $83 million to $536 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $410 million, compared with $613 million the week before. The principal changes supplying reserves were an increase of $202 million in Federal Reserve float, and decreases of $59 million in foreign deposits with Federal Reserve Banks and $42 million in money in circulation. The principal offsetting changes were decreases of $120 million in member bank borrowings and $69 million in Federal Reserve holdings of U. S. Government securities, and an increase of $31 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $12 million. As of Wednesday, May 23, holdings of U. S, Government securities bought outright were $25 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $72 million lower, and member bank borrowings were $59 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items May 23, 1956 May 16, 1956]May 25, 1955 (In million of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,200 - 26 -313 Held under repurchase agreement 10 - 43 + 10 Acceptances—"bought outright 14 - 1 + 1 Loans, discounts, and advances-- Member bank borrowings 946 -120 +593 Other 1 — — - 74 Float 1,139 +202 +259 Total Reserve Bank credit 25,310 + 12 +476 Gold stock 21,770 + 1 + 97 Treasury currency outstanding 5,028 + 2 + 29 52,109 + 16 +602' Money in circulation 30,317 - 42 +491 Treasury cash holdings 781 - 8 - 37 Treasury deposits with F. R. Banks 594 + 31 +157 Foreign deposits with F. R. Banks 319 - 59 - 75 Other deposits with F. R. Banks 310 - 4 -111 Other F. R. accounts (net) 980 + 43 33,300 - 83 +4 66 Member bank reserves— 18,809 + 99 +136 Required reserves (estimated) 18,273 + 16 + 81 Excess reserves (estimated) 536 + 83 + 55 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 21,771 Treasury cash holdings J88 Treasury currency outstanding 5,029 Member bank) - Required (est.) 18,251 Money in circulation 30,244 reserves ) - Excess (est.) 83 On May 23, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,753 million, an increase of $31 million for the week and an increase of $533 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 23, May 16, May 25, 1956 1956 _1255_ A S S E TS Gold certificate account 20,249,987 * 1 + 111,885 Redemption fund for F. R. notes 834,938 - 3,451 - 14,815 Total gold certificate reserves 21,084,925 - 3,452 + 97,070 F. R. notes of other Banks 297,212 + 21,112 + 94,141 Other cash 372,972 + 7,382 + 8,04l Discounts and advances 714,964 + 59,134 + 171,718 Industrial loans 927 - 26 + 328 Acceptances—bought outright 14,735 + 390 + 1,302 U. S. Government securities: Bought outright-- Bills 311,170 - 25,300 - 481,180 Certificates 10,932,699 +2,658,924 Notes 9,153,913 -2,491,924 Bonds 2,801,750 Total bought outright 23,199,532 - 25,300 - 314,180 Held under repurchase agreement 71,650 Total U. S. Government securities 23,199,53? - 96,959 - 314,180 Total loans and securities 23,930,158 - 37,452 - 140,832 Due from foreign banks 22 Uncollected cash items 4,608,518 - 906,941 + 622,164 Bank premises 66,681 + 398 + 10,264 Other assets 186,906 + + 30,100 jhm TOTAL ASSETS 50,547,394 - 914,178 + 720,948 L I A B I L I T I ES Federal Reserve notes ™* 25,986,999 - 55,277 + 491,100 Deposits: Member bank reserves 18,334,319 - 142,961 - 307,467 U. S. Treasurer--general account 635,555 + 71,318 + 221,043 Foreign 312,082 - 26,204 93,953 - Other 309,786 - 2,359 - 103,873 Total deposits 19,591,742 - ~100,206 - 284,250 Deferred availability cash items 3,732,100 - 768,209 + 428,199 Other liabilities and accrued dividends 19,661 + 972 + 520 TOTAL LIABILITIES 49,330,502 - 922,720 4 635,569 C A P I T AL A C C O U N TS Capital paid in 314,662 223 + 21,088 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 181,075 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,547,394 + 720.94b Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3# .2$ Contingent liability on acceptances purchased for foreign correspondents 45,792 50 19,266 Industrial loan commitments 2,471 26 1,0^0 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 23, 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 706,171 333 6,333 181,470 16 days to 90 days 8,718 68 8,402 7,569,765 91 days to 1 year 75 166 11,932,699 Over 1 year to 5 years 360 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FR T A o S t E a R l 714,964 927 14,735 23,199,532 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON MA Y23, 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 20,249,987 973,703 5,425,080 1142,10?.1 868,744 1226,396 836,833 3769,971 827,233 312,008 787,289 662,194 2418,429 Redemption fund for F. R. notes 834,938 50,987 170,790 57,363 73,869 67,019 51,678 156,237 43,372 23,400 40,819 26,153 73.251 Total gold certificate reserves 21,084,925 1024,690 5,595,870 1199,470 1942,613 1293,415 888,511 3926,208 870,605 335,408 828,108 688,34? 2491,680 F.R. notes of other Banks 297,212 13,963 62,015 26,423 14,798 22,616 61,695 24,901 13,033 6,450 6,139 13,187 31,992 Other cash 372,972 29,384 92,480 17,107 27,657 20,506 29,834 55,619 23,406 9,891 11,561 15,551 39,976 Discounts and advances 714,964 36,945 45,970 67,115 44,285 32,412 73,777 128,950 26,955 84,515 88,640 53,150 32,250 Industrial loans 927 300 574 53 Acceptances— Bought outright 14,735 14,735 U. S, Govt, securities: Bought outright— Bills 311,170 17,103 78,314 18,698 26,914 19,159 16,001 54,290 12,991 7,029 13,483 12,367 34,821 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 23,199,532 1275,185 5,838,812 1394,083 2006,597 1428,37 21192,897 4047,669 968,580 524,008 1005,236 922,042 2596,051 Held under repurchase agreement Total U. S. Govt, sees. 23,199.532 1275,185 5,838,812 1394,083 2006,597 1428,37 21192,897 4047,669 968,580 524,008 1005,236 922,042 2596,051 Total loans & securities 23,930,158 1312,430 5,899,517 1461,772 2050,882 1460,784 1266,674 4176,619 995,535 608,576 1093,876 975,192 2628,301 Due from foreign banks 22 1 1/6 2 2 1 13 11 1 12 Uncollected cash items 4,608,518 370,434 817,252 308,119 416,266 366,398 351,063 717,383 186,636 111,420 227,412 250,551 485,584 Bank premises 66,681 5,515 8,328 4,938 6,816 6,357 4,030 6,007 3,557 3,857 3,978 2,522 10,776 Other assets 186.906 9,874 . 45,185 10,828 15,983 11,279 10,401 34,273 7,471 4,133 7,884 8,912 20,683 TOTAL ASSETS 50,547,394 2766,291 12,520,653 3028,1594 475,017 3181,356 2612,209 8941,013 2100,244 1079,736 2178,959 1954,26 35708,994 1J After deducting $lb,000 participai ons of other Federa lReserveB anks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK ON MA Y23, 1956 H.4.1(c) Total Boston New York ^ Richmond Atlanta Chicago ^ ^ Dallas ^ s co LL II AA BB II LL II TT II EESS FFeeddeerraall RReesseerrvvee nnootteess 25,986,999 1553,619 5,932,564 1750,267 2432,003 1961,684 1295,807 5052,332 1183,47 4517,505 1029,098 680,304 2598,342 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,334,319 773,471 5,236,223 868,122 1490,406 777,021 898,048 3005,367 664,871 400,631 864,666 925,028 2430,465 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 635,555 51,996 100,380 44,999 51,870 51,269 50,706 81,230 33,074 24,920 35,136 45,862 64,113 FFoorreeiiggnn 312,082 18,054 1/ 93,573 22,032 27,846 15,606 13,464 42,840 11,628 7,650 11,628 15,606 32,155 OOtthheerr 309,786 2.473 " 244,510 10,281 768 2,64l l,46l 999 6,482 469 689 1,140 37,873 TToottaall ddeeppoossiittss 19,591,742 845,994 5,674,686 945>34 1570,890 846,537 963,679 3130,436 716,055 433,670 912,119 987,636 2564,606 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 3,732,100 293,139 571,699 245,481 360,537 307,913 295,966 580,509 152,323 96,514 188,702 224,817 414,500 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 19,661 1,092 5,568 937 2,035 871 825 3,745 626 547 707 995 1,713, TOTAL LIABILITIES 49,330,502 2693,844 12,184,517 2942,119 4365,465 3117,005 2556,277 8767,022 2052,478 1048,236 2130,626 1893,752 5579,161 CAPITAL ACCOUNTS Capital paid in 314,662 16,349 91,375 20,065 29,937 14,340 14,463 41,921 10,783 7,008 12,601 17,232 38,588 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,l4o Other capital accounts 181,075 11,420 4l,615 12.495 16,046 11,650 9.866 28.747 8,813 5.833 8.635 8,125 17.830 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD 2766,291 12,520,653 3028,659 4475,01 73181,356 2612,209 8941,013 2100,244 1079,736 2178,959 1954,26 35708,994 CCAAPPIITTAALL AACCCCOOUUNNTTSS 50,547,394 CCoonnttiinngg.. lliiaabb.. oonn aacccceepptt-aanncceess ppuurrcchhaasseedd ffoorr ffoorreeiiggnn ccoorrrreessppoonnddeennttss 45,792 2,702 2/ 13,091 3,298 4,168 2,336 2,015 6,412 1,740 1,145 1,740 2,336 4,809 IInndduussttrriiaall llooaann ccoommmmiitt.. 2,471 __ — - 98 245 —— —— - — —- —*• 2,128 —— ~ FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 26,909,059 1602,121 6,150,986 1825,318 2525,916 2017,12 71356,407 5135,42 11231,667 564,395 1059,193 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,513,000 67,115 — — — -- 26,955 — 88,627 EElliiggiibbllee ppaappeerr 182,697 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 16,935,000 i84o,000 6,470,000 1992,115 2570,000 2095,000 1500,000 5200,000 1376,955 610,000 1168,627 808,000 3000,000 TToottaall ccoollllaatteerraall 28,630,697 2/ After deducting $32,701,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis