H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM June 14, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending June 13 decreased $70 million to $18,74$ million. Estimated required reserves increased $9 million; and estimated excess reserves decreased $79 million to $525 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $217 million, compared with $288 million the week before. The principal changes reducing reserves were a decrease of $150 million in member bank borrowings, and increases of $37 million in money in circulation and $27 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $64 million in Federal Reserve float, $14 million in gold stock, and $13 million in Federal Reserve holdings of 0. S. Government securities, and a decrease of $31 million in Treasury deposits with Federal . Reserve Banks. Total Reserve Bank credit decreased $69 million. As of Wednesday, June 13, U. S. Government securities held under repurchase agreement were $20 million lower than a week earlier and member bank borrowings were $191 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items June 13, 1956 June b, 1956 June 15, 1955 (In million of dollars) Reserve Bank credit: U. S. Government securities- Bought outright--System account 23,492 + 86 - 96 Held under repurchase agreement 24 - 73 + 24 Acceptances--bought outright 16 - 1 Loans, discounts, and advances- Member bank borrowings 742 -150 +253 Other 5 + 2 - 65 Float 970 + 64 +177 Total Reserve Bank credit 25,251 - 69 +295 Gold stock 21,796 + 14 +120 Treasury currency outstanding 5,033 + l + 32 52,080 - 54 +445 Money in circulation 30,542 + 37 +484 Treasury cash holdings 779 - 4 - 53 Treasury deposits with F. R. Banks 398 - 31 + 94 Foreign deposits with F. R. Banks 332 + 27 -102 Other deposits with F. R. Banks 299 - 11 - 88 Other F. R. accounts (net) 982 - 1 + 42 33,331 +~lS +376 Member bank reserves— 18,749 - 70 + 71 Required reserves (estimated) 18,224 + 9 +125 Excess reserves (estimated) 525 - 79 - 54 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 21,797 Treasury cash holdings 782 Treasury currency outstanding 5,033 Member bank) - Required (est.) 18,267 Money in circulation 30,527 reserves ) - Excess (est.) 522 On June 13, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,703 million, a decrease of $23 million for the week and an increase of $379 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 June 13> June ST*"" June 15, 1956 1956 1955 Gold certificate account 20,270,241 W 3,745 + 120,139 Redemption fund for F. R. notes 843,132 + ___ - 60 Total gold certificate reserves 21,113,373 + 7,849 + 120,079 F. R. notes of other Banks 259,303 + 4,956 4" 70,579 Other cash 343,880 + 1,106 + 3,798 Discounts and advances 695,986 + 202,323 - 140,691 Industrial loans 931 + 8 + 378 Acceptances--bought outright 15,902 - 533 - 491 U. S. Government securities: Bought outright— Bills 603,270 - - - 229,180 Certificates 10,932,699 «. — +2 ,658,924 Notes 9,153,913 -2,491,924 Bonds 2,801,750 - — «• - Total bought outright 23,491,632 • — - 62,180 Held under repurchase agreement - 20,300 — «•» Total U. S. Government securities 23,491,632 - 20,300 - 62,180 Total loans and securities 24,204,451 + 181,498 202,984 Due from foreign banks 22 - «•» «• — Uncollected cash items 4,959,695 + 809,069 - 184,221 Bank premises 67,026 + 403 + 10,055 Other assets 215,914 + 9,217 + 88,419 TOTAL ASSETS 51,163,664 + 1,014,098 - 94,275 L I A B I L I T I ES Federal Reserve notes 26,194,765 + 29,767 + 484,155 Deposits: Member bank reserves 18,789,005 320,501 - 297,764 U. S. Treasurer—general account 360,018 75,173 + 1,579 Foreign 343,572 26,297 - 57,453 Other 282,955 13,606 + 20,052 Total deposits 19,775,550 + 258,019 - 333,586 Deferred availability cash items 3,929,454 + 718,093 - 342,862 Other liabilities and accrued dividends 21,981 128 + 2,802 TOTAL LIABILITIES 49,921,750 + 1,005,751 - 189,491 C A P I T AL A C C O U N TS Capital paid in 315,184 217 + 20,976 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 203,575 8,130 41,529 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,163,664 + 1,014,098 94,275 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9# + .1# Contingent liability on acceptances purchased for foreign correspondents 45,869 981 + 19,078 Industrial loan commitments 2,572. 8 983 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 13, 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 690,916 1 4,980 113,800 16 days to 90 days 5,018 153 10,922 7,929,535 91 days to 1 year 52 417 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 695,986 931 15,902 23,491,632 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK ON JUN E13, 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 20,270,241 935,527 5,519,233 1097,189 1818,36 91238,143 871,700 3653,734 844,965 355,615 844,044 648,366 2443,356 Redemption fund for F. R. notes 841.112 5°>635 179,422 60,516—74,336—64,912 51,396 155,671 43,201 PI.^7 4n/A4 Total gold certificate reserves 21,113,373 986,162 5,698,655 1157,705 1892,705 1303,05 5923,096 3809,405 888,166 378,972 884,728 674,418 2516,306 F.R. tiote sof other Banks 259,303 11,108 55,123 17,404 12,080 21,165 55,126 23,822 11,672 7,509 7,100 12,766 24,428 Other cash 343,880 26,924 80,562 16,362 30,560 17,927 25,585 53,955 22,720 8,703 10,306 13,393 36,883 Discounts and advances 695,986 32,635 60,510 89,430 68,080 22,457 42,087 232,035 8,020 41,755 40,117 27,735 31,125 Industrial loans 931 300 578 53 Acceptances-- Bought outright 15,902 15,902 U. S. Govt, securities: Bought outright-- Bills 603,270 33,159 151,829 36,251 52,179 37,143 31,020 105,253 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 1907,450 456,440 246,937 473^714 434*509 1223,380 Notes 9,153,913 503,154 Bonds 2,601,750 154.001 ^ 1 M 396:639 63,283 121,400 1 3 1 6 1 3 , : 3 8 5 1 3 3 10 3 2 1 4 3 , , 3 5 3 18 2 Total 23,491,632 1291,241 5,912,327 1411,636 2031,862 1446,356 1207,916 4098,632 980,776 530^606 1017^892 933^51 2628;t37 Held under repurchase agreement Total U. S. Govt, sees. 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 Total loans & securities2 4,204,451 1324,176 5,988,739 1501,644 2099,942 1468,813 1250,003 4330,667 988,796 572,4l4 1058,009 961,386 2659,862 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 11 1 2 Uncollected cash items 4,959,695 381,944 925I140 299,435 458,513 380,488 376,745 801,709 205,421 128,189 248,651 257,045 496,415 Bank premises 67,026 5,483 8,305 4,938 6,832 6,475 4,022 5,988 3,550 4,162 3,976 2,519 10,776 Other assets 215.914 11.395 52.259 12.469 18.310 13.204 11.930 39.6l4 8.736 4.783 9.143 9.930 24.141 TOTAL ASSETS 51,163,664 2747,193 12,808,789 3009,959 4518,944 3211,128 2646,508 9065,163 2129,062 1104,733 2221,914 1931,458 5768,813 D1ig/itiz eAd ffotr eFRr ASdEeRd ucting $16,000 participation sof other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITIO NOF EAC HFEDERAL RESERVE BANK ON JUN E13, 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 26,194,765 1574,149 5,964,253 1764,401 2446,22 31980,337 1308,48 95070,598 1185,417 519,161 1040,346 690,650 2650,741 Deposits: Member bank reserves 18,789,005 745,641 5,555,556 865,141 1531,534 795,304 906,838 3066,664 678,909 415,753 876,236 907,666 2443,763 U.S.Treas.-gen. acct 360,018 26,108 43,445 24,965 21,283 27,222 33,464 39,507 22,911 19,585 39,008 26,025 36,495 Foreign 343,572 19,175 1/111,497 23,400 29,575 16,575 14,300 45,500 12,350 8,125 12,350 16,575 34,150 Other 282,955 2,486 " 218,311 10,162 980 2,202 1,503 1,150 7,383 623 1,177 1,017 35,961 Total deposits 19,775,550 793,410 5,928,809 923,668 1583,372 841,303 956,105 3152,821 721,553 444,086 920,771 951,203 2550,369 Deferred availability cash items 3,929,454 304,657 567,234 232,643 375,583 322,523 323,706 659,310 172,647 108,737 202,528 227,002 432,884 Other liabilities and accrued dividends 21,981 1,288 6,112 1,115 2,091 1,086 1,018 3,687 813 662 864 1,018 2,227 TOTAL LIABILITIES 49,921,750 2673^504 12,466^408 2921^827 4407^269 3145/249 2589)318 8886^41 62080,430 1072,646 2172,509 1869,953 5636,221 CAPITAL ACCOUNTS Capital paid in 315,184 16,358 91,391 20,072 29,982 14,451 14,493 42,079 10,794 7,009 12,610 17,270 38,675 Surplus (Section 7) 693,612 41,667 195,827 49,491 62,563 35,012 30,841 101,894 27,649 17,5% 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 205,575 12,653 47,844 l4,080 18,124 13,067 11,094 33,345 9.668 6,419 9,698 9,08l 20,502 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,163,664 2747,193 12,808,789 3009,959 4518,944 3211,128 2646,508 9065,163 2129,062 1104,733 2221,914 1931,458 5768,813 Canting, liab. on acceptances purchased for foreign correspondents 45,869 2,708 2/ 13,096 3,305 4,177 2,340 2,020 6,426 1,744 1,148 1,744 2,341 4,820 Industrial loan commit. 2,572 93 243 108 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. note soutstanding 27,065,784 1611,024 6,176,987 1835,872 2528,86 22033,285 1363,500 5158,916 1232,798 563,251 1065,667 730,928 2764,694 Collat. for F. R. notes: Gold certificate acct. 11,538,000 640,000 2,870,000 650,000 1070,000 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 Eligible paper 135,334 88,350 — — — — 7,450 — 39,534 U. S. Govt, securities 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 Total collateral TBffUTUOP 6.470,000 2570.000 2095.000 1500.000 5300.000 1357.450 610,000 1119.534 000,000 3000.0(37 1/ After deducting $232,050,000 participations of other Federa lReserve Banks, I?/ After deducting $32,773,000 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis