H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM June 7, 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 June 6 increased $250 million to $18,819 million. Estimated required reserves decreased $7 million; and estimated excess reserves increased $257 million to $604 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $288 million, compared with $385 million the week before. The principal changes supplying reserves were increases of $160 million in member bank borrowings, $91 million in Federal Reserve holdings of U. S. Government securities, $71 million in Federal Reserve float, and $11 million in gold stock, and decreases of $78 million in Treasury deposits with Federal Reserve Banks and $18 million in "other" deposits with Federal Reserve Banks. The principal offsetting, change was an increase of $178 million in money in circulation. Total Reserve Bank credit increased $325 million. As of Wednesday, June 6, holdings of U. S. Government securities bought outright were $131 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $15 million lower, and member bank borrowings were $83 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items June 6, 1956 May 30, 19561June 8, 1955 Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,406 + 47 -277 Held under repurchase agreement 97 + 44 + 97 Acceptances--bought outright 17 + 1 + 1 Loans, discounts, and advances-- Member bank borrowings 892 +160 +429 Other 3 + 2 - 67 Float 906 + 71 + 94 Total Reserve Bank credit 25,320 +325 +275 Gold stock 21,782 + 11 +107 Treasury currency outstanding 5,032 - - + 30 52,134 +336 +4l4 Money in circulation 30,505 _ +178 +446 Treasury cash holdings 783-^ - 2. - 52 Treasury deposits with F. R. Banks 429 - 78 - 11 F6reign deposits with F. R. Banks 305 + 8 - 82 Other deposits with F. R. Banks 310 - 18 -106 Other F. R. accounts (net) 983 - 1 + 48 33,315 + 87 +243 Member bank reserves— 18,819 +250 +171 Required reserves (estimated) 18,215 - 7 +179 Excess reserves (estimated) 604 +257 - 8 For Wednesday Federal Reserve figures Bee 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 21,796 Treasury cash holdings 789 Treasury currency outstanding 5,032 Member bank) - Required (est.) 18,234 Money in circulation 30,502 reserves ) - Excess ' (est.) 235 On June 6, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,726 million, a decrease of $35 million for the week and an increase of $417 million from the comparable Digitidzeadt foer FaR AySeERa r ago. 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 June 6, May 30, June 8, 1956 1956 1955 A SS E TS Gold certificate account 20,273,986 + 23,998 + 128,883 Redemption fund for F. R. notes 831,538 - 3,321 - 14,250 Total gold certificate reserves 21,105,524 + 20,677 + 114,633 F. R. notes of other Banks 254,347 + 4,994 + 74,990 Other cash 342,774 - 13,317 + 13,303 Discounts and advances 493,663 - 79,027 + 102,196 Industrial loans 923 - 7 + 443 Acceptances--bought outright 16,435 4 + 542 • U. S. Government securities: Bought outright-- Bills 603,270 + 131,300 290,180 Certificates 10,932,699 — + 2,658,924 Notes 9,153,913 - - - 2,491,924 Bonds 2,801,750 • - Total bought outright 23,491,632 + 131,300 - 123,180 Held under repurchase agreement 20,300 - 14,600 + 20,300 Total U. S. Government securities 23,511,932 + 116,700 - 102,880 Total loans and securities 24,022,953 + 37,662 + 301 Due from foreign banks 22 — — - - Uncollected cash items 4,150,626 69,865 339,879 Bank premises 66,623 + 1 + 9,825 Other assets 206,697 + 11,681 + 36,669 TOTAL ASSETS 50,149,566 - 8,167 + 589,600 L I A B I L I T I ES Federal Reserve notes 26,164,998 + 53,278 + 455,727 Deposits: Member bank reserves 18,468,504 + 253,870 - 14,244 U. S. Treasurer--general account 435,191 + 989 + 145,625 Foreign 317,275 + 21,741 - 84,297 Other 296,561 - 195,756 - 96,856 Total deposits 19,517,531 + 80,844 - 49,772 Deferred availability cash items 3,211,361 - 153,213 + 89,429 Other liabilities and accrued dividends 22,109 + 1,323 + 2,513 TOTAL LIABILITIES 48,915,999 - 17,768 + 497,897 C A P I T AL A C C O U N TS Capital paid in 314,967 + 272 + 21,002 Surplus (Section 7) 693,612 — — + 32,711 Surplus (Section 13b) 27,543 - - - ~ Other capital accounts 197,445 + 9,329 + 37,990 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,149,566 - 8,167 + 589,600 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.2$ - .1# - .2 i Contingent liability on acceptances purchased for foreign correspondents 44,888 882 + 18,041 Industrial loan commitments 2,580 + 114 1,048 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 6, 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 482,296 1 4,665 112,100 16 days to 90 days 11,293 168 11,770 7,951,535 91 days to 1 year 74 394 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 Total 493,663 923 16,435 23,511,932 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1956 (In thousand 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 9^9,732 5,422,896 1127,662 1838,326 1237,162 842,318 3703,720 860,654 364,932 830,601 667,112 2428,871 Gold certificate account 20,273,986 Redemption fund for F. R. notes 831,538 50,762 169,833 .56,976 74,531 65,566 51,497 155,867 43,264 23.372 40.733 26.085 73.052 Total gold certificate reserves 21,105,524 1000,494 5,592*729 1184,638 1912,857 1302,728 893,815 3859,587 903,918 388,304 871,334 693,197 2501,923 F.R. notes of other Banks 254,347 12,052 52,670 22,182 13,282 21,728 51,981 24,559 10,108 6,364 5,410 11,823 22,188 Other cash 342,774 27,571 80,372 16,203 28,050 18,303 26,528 54,060 21,615 9,083 10,450 13,648 36,891 Discounts and advances 493,663 36,661 29,909 81,693 28,854 24,446 45,403 126,850 5,702 15,900 48,601 24,924 24,720 Industrial loans 923 300 570 53 Acceptances-- Bought outright 16,435 16,435 U. S. Govt, securities: Bought outright— Bills 603,270 33,159 151_,_8 2592 1 7396,251 „ 3_7_, 1_4 3_ _3_1 ,020 105,253 25,187 13,627 26,139 23,976 67,507 Certificates 10,932,699 600^927 2,751^520 656^957 945^602 673^115 562^148 1907^450 456>40 246,937 473,714 434,509 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 2.801.750 154.001 705.139 168.360 242.332 172.501 144.061 488.827 116.973 61.281 121.400 111.153 311.518 Total 23,491,632 1291,241 5,912,327 1411,636 2031,862 1446,356 1207,916 4098,632 980,776 530,606 1017,892 933,651 2628,737 Held under repurchase agreement 20.300 20.300 Total U. S. Govt, sees. 23.511.932 1291.241 5.912.627 1411.636 2031.862 1446.356 1207.916 4098.632 980.776 530.606 1017.892 911.651 2628.717 Total loans & securities 24,022,953 1328,202 5,978,971 1493,899 2060,716 1470,802 1253,319 4225,482 986,478 546,559 1066,493 958,575 2653,457 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,150,626 327,378 7867248 253,656 378,008 327,397 308,302 668,585 179,703 112,557 202,962 201,277 404,553 Bank premises 66,623 5,481 8,305 4,938 6,817 6,357 4,022 5,988 3,550 3,895 3,976 2,519 10,775 Other assets 206.697 11.001 49.872 12.045 17.982 12.520 11.465 37.848 8.154 4.516 8.707 Q.468 PP.899 TOTAL ASSETS 50,149,566 2712,180 12,549,173 2987,563 4417,714 3159,836 2549,433 8876,112 2113,727 1071,299 2169,333 1890,508 5652,688 Dlig/iti zeAdf fotre FrR AdSeERd ucting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H^U.l(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 6, 1956 (in thousands of dollars) j Phila-j Cleve- St. Minne- Kansas San I Total Boston New York Richmond Atlanta Chicago Da lias j delphiaj land Louis apolis City- Francisco L I A B I L I T I ES Federal Reserve notes 26,l6U,998 L571,538 5,971,573 1755,085 2442,672 1974,875 1306,455 5070,232 1186,940 518,034 1040,328 687,879 2639,387 Deposits: Member bank reserves 18,468,504 761,511 5,359,077 882,821 1477,155 806,373 894,310 3001,495 681,44l 395,837 869,965 916,558 2421,961 U.S.Treas.-gen. acct. 435,191 39,218 72,230 30,326 28,495 29,724 23,846 51,588 25,608 22,932 34,611 32,826 43,787 Foreign 317,275 18,113 1/ 98,052 22,104 27,937 15,657 13,508 42,980 11,666 7,675 11,666 15,657 32,260 Other 296,561 1,914 225,202 10,154 2,887 2,639 1,603 2,212 8,332 1,120 3,234 1,347 35,917 Total deposits 19,517,531 820,756 5,754,561 945,405 1536,474 054,393 933,267 3098,275 727,047 427,564 919,476 966,388 2533,925 Deferred availability cash items 3,211,361 245,229 476,269 198,358 325,037 264,153 251,956 526,901 150,673 93,24i 159,726 174,178 345,640 Other liabilities and accrued dividends 22,109 1,392 6,451 1,125 2,543 1,016 968 3,642 726 554 768 879 2,045 TOTAL LIABILITIES 48,915,999 2638,915 12,208,054 2899,973 4306,726 3094,437 2492,646 8699,050 2065,386 1039,393 2120,298 1829,324 5520,997 CAPITAL ACCOUNTS Capital paid in 314,967 16,350 91,388 20,066 29,980 14,430 14,491 41,920 10,788 7,008 12,606 17,266 38,674 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,i4o Other capital accounts 197,445 12,237 45,785 13,544 17,439 12,608 10,693 31,819 9,383 6,239 9,332 8,764 19,602 TOTAL LIABILITIES AMD CAPITAL ACCOUNTS 50,149,566 2712,180 12,549,173 2987,563 4417,714 3159,836 2549,433 8876,112 2113,727 1071,299 2169,333 1890,508 5652,688 Conting. liab. on acceptances purchased for foreign correspondents 44,888 2,620 2/ 13,187 3,197 4,040 2,264 1,954 6,216 1,687 1,110 1,687 2,264 4,662 Industrial loan commit. 2,580 —— — — 101 243 — — — 108 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,006,500 1609,354 6,173,381 1822,245 2531,410 2026,760 1354,266 5161,443 1227,523 563,584 1063,319 724,900 2748,315 Collat. for F. R. notes: Gold certificate acct. 11,613,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 Eligible paper 135,391 —— 81,405 — —— — 5,550 —— 48,436 — U. S. Govt, securities 16,935,000 1200,000 3, oOO, 0001. PO O,000 1500,000 1250,000 1000,000 3000,000 900,000 460,000 800,000 525,000 1500,000 Total collateral 28,683.391 iB4o ooo 6.470.000~2C06.405 2570.000 2095.000 1500.000 5300.000 1355.550 610.000 1128.436 800.000 3000.000 t 1/ After deducting $219,198,000 participations of other Federal Reserve Banks, 2/ After deducting $31,701,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis