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 21, 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 20 increased $367 million to $19,116 million. Estimated required reserves increased $272 million; and estimated excess reserves increased $95 million to $606 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $158 million, compared with $231 million the week before. The principal changes supplying reserves were increases of $537 million in Federal Reserve float and $22 million in member bank borrowings. The principal offsetting changes were increases of $137 million in Treasury deposits with Federal Reserve Banks, $18 million in "other" deposits with Federal Reserve Banks, and $l6 million in "other" F. R. accounts (net), and a decrease of $24 million in U. S. Goverment securities held under repurchase agreement. Total Reserve Bank credit increased $528 million. As of Wednesday, June 20, holdings of U. S. Government securities and those held under repurchase agreement were unchanged from a week earlier and member bank borrowings were $71 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items June 20, 1956 June 13, 1956|June 22, 1955 (in million of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,492 - 62 Held under repurchase agreement -- - 24 Acceptances--bought outright 16 + 1 — Loans, discounts, and advances-- Member bank borrowings 764 + 22 +48l Other l - 4 - 64 Float 1,507 +537 +370 Total Reserve Bank credit 25,779 +528 +724 Gold stock 21,798 + 2 +122 Treasury currency outstanding 5,033 - - + 32 52,610 +530 +877 Money in circulation 30,541 - 1 +506 Treasury cash holdings 774 - 5 - 44 Treasury deposits with F. R. Banks 535 +137 +322 Foreign deposits with F. R. Banks 331 - 1 - 77 Other deposits with F. R. Banks 317 + 18 + 39 Other F. R. accounts (net) 998 + 16 + 17 33,494 +163 ' +760 Member bank reserves-- 19,116 +367 +118 Required reserves (estimated) 18,510 +272 +209 Excess reserves (estimated) 606 + 95 - 91 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other times appearing above are, in millions of dollars: Gold stock 21,798 Treasury cash holdings 776 Treasury currency outstanding 5,033 Member bank) - Required (est.) 18,566 Money in circulation 30,481 reserves ) - Excess (est.) 367 On June 20, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,729 million, an increase of $26 million for the week and an increase of $390 million from the comparable Digitizedd faotr FeR AaS ERy ear 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 20, June 13, June 22, 1956 1956 1955 A S S E TS Gold certificate account 20,270,239 - 2 + 114,137 Redemption fund for F. R. notes 841,067 2,065 + 1,586 - Total gold certificate reserves 21,111,306 2,067 + 115,723 - F. R. notes of other Banks 278,403 + 19,100 + 75,937 Other cash 358,935 + 15,055 + 11,693 Discounts and advances 751,578 + 55,592 + 358,342 Industrial loans 876 - 55 + 326 Acceptances--bought outright 1155,,112211 - 781 + 178 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 mm mm «~ mm mm mm Total U. S. Government securities 23,491,632 — — - 62,180 Total loans and securities 24,259,207 + 54,756 + 296,666 Due from foreign banks 22 mm mm — *» Uncollected cash items 6,434,997 +1,475,302 +1 ,355,529 Bank premises 67,549 + 523 + 10,608 Other assets 205,055 - 10,859 + 70,645 TOTAL ASSETS 52,715,474 +1,551,810 +1,936,801 L I A B I L I T I ES Federal Reserve notes 26,174,035 - 20,730 + 502,783 Deposits: Member bank reserves 18,932,566 + 143,561 - 96,888 U. S. Treasurer—general account 746,326 + 386,308 + 647,895 Foreign 325,523 - 18,049 - 92,548 Other 283,127 + 172 + 37,223 Total deposits 20,287,542 + 511,992 + 495,682 Deferred availability cash items 4,980,940 +1,051,486 + 837,587 Other liabilities and accrued dividends 22,621 + 640 + 2,116 TOTAL LIABILITIES 51,465,138 +1,543,389 +1,838,168 C A P I T AL A C C O U N TS Capital paid in 315,472 + 288 + 21,070 Surplus (Section 7) 693,612 + 32,711 - - Surplus (Section 13b) 27,543 - - Other capital accounts 213,709 + 8,134 + 44,852 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,715,474 +1,551,810 +1,936,801 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.4# - • 51 - .8i Contingent liability on acceptances purchased for foreign correspondents 45,541 - 328 + 18,893 Industrial loan commitments 2,626 + 54 - 929 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 20, 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 745,959 64 5,781 121,300 16 days to 90 days 5,619 61 9,340 7,922,035 91 days to 1 year 401 -- 11,932,699 Over 1 year to 5 years 350 -- 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER Total 751,578 87S 15,121 23,491,632 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 20, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia^ land Richmond Atlanta Chicago Louis apolis City Dallas Francisco A S S E TS Gold certificate account 20,270,239 1035,233 5,195,079 1143,933 1868,071 1242,09 9867,578 3702,441 873,766 349,784 833,643 685,429 2473,183 Redemption fund for F. R. notes 841.067 50.529 178.995 60.333 74.172 64.233 51.310 155,483 43.148 23.342 40.643 26.020 72.899 Total gold certificate reserves 21,111,306 1085,762 5,374,074 1204,266 1942,243 1306,332 918,888 3857,924 916,914 373,126 874,286 711,449 2546,042 F.R. notes of other Banks 278,403 11,479 55,356 25,046 14,304 20,574 57,724 26,518 12,872 6,810 7,571 12,381 27,768 Other cash 358,935 26,599 79,792 18,831 30,616 18,183 30,076 55,337 24,567 8,853 11,137 13,722 41,222 Discounts and advances 751,578 13 759 146,220 37,815 16,990 20,557 69,327 270,645 4,855 45,990 49,050 41,270 35,100 Industrial loans 876 300 524 52 Acceptances— Bought outright 15,121 15,121 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 6ou0u0,,y9*2f7 6526,,795517,520 945,602 673,115 562,148 1907,450 456,440 246,937 473,714 434,509 1223,380 503,154 2,303,839 550,068 791,749 563,597 470,685 1597,102 382,176 206,759 396,639 363,813 1024,332 Notes 9,153,913 Bonds 2.801.750 154.001 705.139 168.360 242.332 172.501 144.063 488.827 116.973 63,283 121.400 111,353 313,519 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 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 & securities 24,259,207 1305,300 6,/0-7 3Z',Z6'6N8 1.1 1 . 449,9 7 AR 5 »R O 2 0 Q 4 R 8 A,852 - 1 1 4 6 R\ 6 I ,9 1 N 3 OT 1 T 2 T 77, 214 H3 *y4Cc3\69, 2r>7n7 r9t 8N5F,L6C3 1C7 ^ 576,6 4 £) 8 I 1 A 0 QL 6 I 6 O ,942 9 Q 7 7 4 L , ± 9 2 Q 1 O I2 663,837 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 n nn 2 Uncollected cash items 6,434,997 459,739 1,4167106 422,326 610,657 473,786 434,892 990,084 259,836 155,789 303,350 325,552 582,880 5 483 8,306 4,938 6,986 6,640 4,021 5,988 3,594 4,162 4,021 2,589 10,821 Bank premises 67,549 Other assets 205,055 10.800 49.916 11.804 17.540 12.247 11.372 37.353 8.281 4.575 8,660 9,657 22,850 TOTAL ASSETS 52,715,474 2905,163 13,057,224 3137,188 4671,200 3304,676 2734,217 9342,484 2211,696 1129,964 2275,968 2050,272 5895,422 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITIO NOF EACH FEDERA LRESERVE BANK ON JUN E20, 1956 H.4.1(c) Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago Lo S u t i . s M a i p n o n l e i - s K C an i s t a y s • Dallas Fra S n a c n i sco L I A B I L I T I ES Federal Reserve notes 26,174,035 1575,510 5,965,000 1754,892 2452,133 1978,305 1305,630 5071,365 1181,699 517,194 1038,853 691,330 2642,124 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,932,566 850,714 5,362,754 892,267 1525,689 799,863 929,873 3145,750 677,523 389,370 887,325 943,794 2527,644 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 746,326 34,343 218,465 44,444 41,201 33,072 45,732 126,573 39,738 57,479 48,730 35,340 21,209 FFoorreeiiggnn 325,523 18,762 1/ 98,446 22,896 28,938 16,218 13,992 44,520 12,084 7,950 12,084 16,218 33,415 OOtthheerr 283,127 2,877 214,528 10,147 1,042 2,082 1,346 561 8,271 430 971 1,008 39,864 TToottaall ddeeppoossiittss 20,207,542 906,696 5,894,193 969,754 1596,070 851,235 990,943 3317,404 737,616 455,229 949,110 996,360 2622,132 Deferred availability cash items 4,980,940 347,557 846,816 322,679 507,576 407,728 379,007 769,553 242,692 124,673 237,454 299,635 495,570 Other liabilities and accrued dividends 22,621 1,290 6,761 1,185 2,267 1,036 975 3,778 757 589 779 1,112 2,092 TOTAL LIABILITIES 51,465,130 2831,053 12,712,770 3048,510 4558,846 3239,304 2676,555 9162,100 2162,764 1097,685 2226,196 1900,437 5761,918 CAPITAL ACCOUNTS Capital paid in 315,472 16,364 91,430 20,072 30,001 14,470 14,574 42,157 10,811 7,013 12,627 17,278 38,675 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 213,709 13,068 49,878 14,626 18,784 13,541 11,485 34,904 9,951 6,607 10,048 9,403 21,414 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,715,474 2905,163 13,057,224 3137,188 4671,200 3304,676 2734,217 9342,484 2211,696 1129,964 2275,968 2050,272 5895,422 Conting. li&b. on acceptances purchased for foreign correspondents 45,541 2,684 2/ 13,054 3,276 4,l4o 2,320 2,002 6,370 1,729 1,138 1,729 2,321 4,778 Industrial loan commit. 2,626 147 243 108 2,128 AnnnimmQ F. R. notes outstanding 27,088,226 1604,260 6,185,448 1828,832 2532,438 2034,713 1358,386 5170,374 1237,285 562,317 1069,388 729,157 2775,628 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 91,720 37,815 4,855 49,050 U. S. Govt, securities l6 .935,000.1-2 0,0 ,000 3,600,000 1200,000 1500,000 1250,0001 0.0 0.,0 00 3000,000 900,000 46o,000 800,000 525,000 1500,000 Total collateral 2$ .564,72011840,000 6.470.000 1887.815 2570.000 2095.000 1500.00 05300.000 1354.855 610.000 112Q.0S0 608.000" 3000.000 1/ After deducting $227,052,0 00 participationso f other Federa lReserve Banks. 2/ After deducting $32,487,0 00 participationso f other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis