H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release E.4.1 OF THE FEDERAL RESERVE SYSTEM May 31, 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 reserve sfor the week ending May 30 decreased $240 million to $18,569 million. Estimated required reserves decreased $45 million; and estimated excess reserves decreased $195 million to $341 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $391 million, compared with $410 million the week before. The principal changes reducing reserves were decreases of $304 million in Federal Reserve float and $214 million in member bank borrowings, and increases of $18 million in "other" deposits with Federal Reserve Banks and $10 million in money in circulation. The principal offsetting changes were an increase of $202 million in Federal Reserve holdings of U. S. Government securities, and decreases of $87 million in Treasury deposits with Federal Reserve Banks and $22 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $315 million. As of Wednesday, May 30, holdings of U. S. Government securities bought outright were $l6l million higher than a week earlier, U. S. Government securities held under repurchase agreement were $35 million higher, and member bank borrowings were $142 million lower, . Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items May 23, 1956i June 1, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23 ,359 +159 -241 Held under repurchase agreement 53 + 43 + 50 Acceptances—bought outright 16 + 2 + 3 Loans, discounts, and advances— Member bank borrowings 732 -214 +187 Other 1 * - 66 Float 835 -304 + 63 Total Reserve Bank credit 24 ,995 -315 6 Gold stock 21 ,771 + 1 + 97 Treasury currency outstanding 5, 032 + 4 + 31 51, 798 -311 +121 Money in circulation 30 ,327 + 10 +366 Treasury cash holdings 785 + 4 - 38 Treasury deposits with F. R. Banks 507 - 87 - 75 Foreign deposits with F. R. Banks 297 - 22 -103 Other deposits with F. R. Banks 328 + 18 -150 Other F. R. accounts (net) 984 + 4 + 48 33 ,228 - 72 + 48 Member bank reserves— 18 ,569 -240 + 73 Required reserves (estimated) 18 ,228 - 45 +165 Excess reserves (estimated) 341 -195 - 92 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 78S Treasury currency outstanding 5,032 Member bank) - Required (est.) 18,194 Money in circulation 30,437 reserves ) - Excess (est.) 21 On May 30, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,76l million, an increase of $8 million for the week and an increase of $491 million from the comparable date Digitizaed fyoer FaRrA SaEgRo . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since May 30, May 2.% June 1, 1956 1956 1955 A S S E TS Gold certificate account 20,249,988 + 1 + 107,887 Redemption fund for F. R. notes 834,859 79 10,895 Total gold certificate reserves 21,084,847 78 + 96,992 F. R. notes of other Banks 249,353 - 47,859 + 84,440 Other cash 356,091 - 16,881 + 24,930 Discounts and advances 572,690 - 142,274 + 5,646 Industrial loans 930 + 3 + 235 Acceptances—bought outright 16,439 + 1,704 + 1,457 U. S. Government securities: Bought outright— Bills 471,970 + 160,800 - 500,480 Certificates 10,932,699 +2,658,924 Notes 9,153,913 -2,491,924 Bonds 2,801,750 Total "bought outright 23,360,332 160,800 - 333,480 Held under repurchase agreement 34,900 34,900 + 34,900 Total U. S. Government securities 23,395,232 + 195,700 - 298,560 Total loans and securities 23,985,291 + 55,133 - 291,242 Due from foreign banks 22 Uncollected cash items 4,220,491 - 388,027 + 221,396 Bank premises 66,622 59 + 10,095 Other assets 195,016 + 8,110 + 31,306 TOTAL ASSETS 50,157,733 - 389,661 + 177,917 L I A B I L I T I ES Federal Reserve notes 26,111,720 + 124,721 + 420,913 Deposits: Member bank reserves 18,214,634 - 119,685 - 329,380 U, S. Treasurer--general account 434,202 - 201,353 - 108,340 Foreign 295,534 - 16,548 - 102,349 Other 492,317 + 182,531 + 78,724 Total deposits 19,436,687 - 155,055 - 461,345 Deferred availability cash items 3,364,574 - 367,526 + 128,831 Other liabilities and accrued dividends 20,786 1, 2,223 TOTAL LIABILITIES 48,933,767 - 396,735 + 90,622 C A P I T AL A C C O U N TS Capital paid in 314,695 + 33 + 20,803 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 188,116 + 7,041 + 33,781 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,157,733 - 389,661 + 177,917 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3# -- + »3# Contingent liability on acceptances purchased for foreign correspondents 45,770 22 19,448 Industrial loan commitments 2,466 5 o4fi MATURITY DISTRIBUTION OF LOANS AND SECURITIES. MAY 30, 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 560,458 357 6,064 171,100 16 days to 90 days 12,158 69 10,375 7,775,835 91 days to 1 year 74 144 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 1,414,857 Digitized for FR T A o S t ER a l 572,690 930 16,439 23,395,232 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H,4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON MAY 30, 1956 (In thousands of dollars) 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 20,249,988 950,031 5,297,285 1152,837 1837,785 1211,477 881,964 3797,911 849,605 326,701 811,174 699,881 2433,337 Redemption fund for P. R. notes 834,859 50,983 170,776 57.357 73,863 67,011 51,671 156.225 43,367 23,398 40,815 26.149 73,244 Total gold certificate reserves 21,084,847 1001,014 5,468,061 1210,194 1911,648 1278,488 933,635 3954,136 892,972 350,099 851,989 726,030 2506,581 F.R. notes of other Banks 249,353 13,446 48,943 19,749 13,626 20,365 58,684 18,624 9,280 6,402 6,545 12,367 21,322 Other cash 356,091 27,540 84,884 16,887 29,148 19,018 28,469 50,819 23,537 9,281 10,767 16,656 39,C85 Discounts and advances 572,690 59,160 75,875 48,810 18,210 49,537 80,252 83,777 12,155 48,175 60,519 14,420 21,800 Industrial loans 930 300 577 53 Acceptances— Bought outright 16,439 16,439 U. S. Govt, securities; Bought outright— Bills 471,970 25,942 118,784 28,361 40,822 29,059 24,269 82,345 19,705 10,661 20,450 18,758 52,814 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 23,360,332 1284,024 5,879,282 1403,746 2020,505 1438,272 1201,165 4075,724 975,294 527,640 1012,203 928,433 2614,044 Held under repurchase agreement 34,900 Total U. S. Govt, sees. 23,395,232 1284,024 5,914,182 1403,746 2020,505 1438,272 1201,165 4075,724 975,294 527,640 1012,203 928,433 26l4,o44 Total loans & securities 23,985,291 1343,484 6,006,496 1453,133 2038,715 1487,809 1281,417 4159,501 987,449 575,868 1072,722 942,853 2635,844 Due from foreign hanks 22 1 1/6 2 2 1 13 1 1 1 1 2 Uncollected cash items 4,220,491 325,961 764,733 271,832 376,810 334,371 405,192 672,457 178,548 99,797 173,975 243,309 373,506 Bank premises 66,622 5,481 8,328 4,938 6,815 6,357 4,019 6,002 3,551 3,855 3,979 2,522 10,775 Other assets 195,016 10,415 46.8QS 11,337 16.832 11,941 10,791 35,708 7,814 4,326 8,197 9,154 21,606 TOTAL ASSETS 50,157,733 2727,342 12,428,346 2988,072 4393,596 3158,350 2722,208 8897,250 2103,152 1049,629 2128,175 1952,892 5608,721 D1igfit izAedf ftore FrR AdSeERd ucting $16,000 participations or otiiir Federal Reserve BanKs." http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

4.i(c) statement of condition of each FEDERA LRESERVE BANK ON MAY 30, 1956 H- (In thousands of dollars) j Total Boston New York | °\ZT Richmond Atlanta Chicago ^ | | Dallas Fran ^ BCQ LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,111,720 1567,258 5,968,741 1755,248 2436,521 1973,934 1299,116 5068,593 1185,117 515,771 1035,092 683,255 2623,074 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,214,634 738,457 5,138,613 849,687 1462,517 779,653 925,165 3048,685 667,846 389,474 854,792 913,396 2446,349 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 434,202 28,731 31,608 33,164 35,729 49,630 47,988 53,195 27,598 19,057 31,853 46,348 29,301 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 295,534 16,815 1/ 92,019 20,520 25,935 14,535 12,540 39,900 10,830 7,125 10,830 14,535 29,950 OOOOOttttthhhhheeeeerrrrr 492,317 2,082 214,569 9,374 805 13,703 117,194 532 24,552 559 634 51,909 36,404 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,436,687 786,085 5,496,809 912,745 1524,986 857,521 1102,887 3142,312 730,826 416,215 898,109 1026,188 2542,004 , DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 3,364,574 300,027 619,199 232,100 319,700 261,073 262,939 507,523 138,473 85,410 145,518 181,608 311,004 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd 20,786 1,170 5,651 993 2,261 1,049 960 3,558 706 553 810 1,068 2,007 aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 48,933,767 2654,540 12,090,400 2901,086 4283,468 3093,577 2665,902 8721,986 2055,122 1017,949 2079,529 1892,119 5478,089 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 314,695 16,350 91,375 20,066 29,903 14,340 14,491 41,921 10,784 7,008 12,604 17,236 38,617 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 33,84? 71,275 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 188,116 11,774 43,425 12,940 16,656 12,072 10,212 30,020 9,076 6,013 8,945 8,383 18,600 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD 50,157,733 2727.342 12,428,346 2988,072 4393,596 3158,350 2722,208 8897,250 2103,152 1049,629 2128,175 1952,892 5608,721 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 45,770 2,702 2/ 13,068 3,297 4,168 2,336 2,015 6,412 1,741 1,145 1,741 2,336 4,809 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2.466 95 243 — — — — -- 2.128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 26,967,900 1602,015 6,163,003 1826,732 2523,840 2030,816 1356,726 5156,899 1229,717 564,767 1062,956 722,199 2728,230 Collat. for F. R. notes: 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 Gold certificate acct. 11,513,000 48,810 — — — — 12,155 — 60,506 Eligible paper 121,471 1200.000 3.600.000 1200,000 i5oo,ooo 1250,000 looo.ooo 3000,000 900,000 460,000 800,000 525,000 1500,000 U. S. Govt, securities 16,935,000 aQ i, r~7 V-f1t t'A'mn ' £ Wn nnn no?? Am nnn onos nnn 1 SOD.DOO RP00.000 1^62.1S5 6l0.000 ll40.506 808.000 1000.000 1 ota 1C 0 1IB XBr a1, 2o,5o9,471 1/ After deducting $203,4^) 0,000 part:L cipations of other Federal Reserve Banks. 2/ After deducting $32,?( 32,000 part:L cipations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis