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 28, 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 27 decreased $86 million to $19,030 million. Estimated required reserves decreased $65 million; and estimated excess reserves decreased $21 million to $585 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $171 million, compared with $158 million the week before. The principal changes reducing reserves were decreases of $138 million in Federal Reserve float and $14 million in Federal Reserve holdings of U. S. Government securities, and an increase of $35 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $56 million in money in circulation, $34 million in foreign deposits with Federal Reserve Banks, and $27 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $158 million. As of Wednesday, June 27, U. S. Government securities held under repurchase agreement were $30 million higher than a week earlier and member bank borrowings were $214 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items June 27. 1956 June 20, 19561 June 29 ,1955 (In million of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,452 - 40 -102 Held under repurchase agreement 26 + 26 + 26 Acceptances—bought outright 17 + 1 + 1 Loans, discounts, and advances- Member bank borrowings 756 - 8 +354 Other 1 - — - - 53 Float 1,369 -138 +580 Total Reserve Bank credit 25,621 -158 +806 Gold stock 21,799 + 1 +122 Treasury currency outstanding 5,033 - - + 32 52,452 -158 +960 Money in circulation 30,485 - 56 +464 Treasury cash holdings 781 + 7 - 33 Treasury deposits with F. R. Banks 570 + 35 +247 Foreign deposits with F. R. Banks 297 - 34 -128 Other deposits with F. R. Banks 290 - 27 + 15 Other F. R. accounts (net) 1,000 + 2 + 19 33 >22" - 72 +583 Member bank reserves-- 19,030 - 86 +377 Required reserves (estimated) 18,445 - 65 +281 Excess reserves (estimated) 585 - 21 + 96 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 21,799 Treasury cash holdings 7@5 Treasury currency outstanding 5,032 Member bank) - Required (est.) l8,4l4 Money in circulation 30,530 reserves ) - Excess (est.) 146 On June 27, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,702 million, a decrease of $27 million for the week and an increase of $381 million from comparable date a year aga Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since June 27, June 20, June 29, 1955 1956 1956 A SS E T S 850 113,289 Gold certificate account 20,269,389 + Redemption fund for F. R. notes 839,331 1,736 + 1,764 Total gold certificate reserves 21,108,720 2,586 + 115,053 F. R. notes of other Banks 266,631 - 11,772 + 90,544 9,282 6,803 Other cash 349,653 + Discounts and advances 537,366 - 214,212 - 184,585 450 Industrial loans 922 + 46 + Acceptances--bought outright 16,553 + 1,432 + 71 U. S. Government securities: Bought outright— Bills 603,270 __ 229,180 +2 Certificates 10,932,699 ,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 29,900 + 29,900 + 29,900 Total U. S. Government securities 23,521,532 + 29,900 - 32,280 Total loans and securities 24,076,373 - 182,834 ~ 216,344 Due from foreign banks 22 -- Uncollected cash items 5,032,780 -1,402,217 + 639,782 Bank premises 67,725 + 176 . + 10,579 Other assets 213,714 + 8,659 + 73,750 TOTAL ASSETS 51,115,618 -1,599,856 + 720,167 L I A B I L I T I ES Federal Reserve notes 26,208,485 + 34,450 + 428,068 Deposits: Member bank reserves 18,559,565 - 373,001 - 35,023 + 231,118 U. S. Treasurer--general account 575,507 - 170,819 Foreign 293,440 - 32,083 - 113,699 Other 290.114 + 6,987 - 117,830 Total deposits 19,718,626 - 568,916 - 35,434 Deferred availability cash items 3,906,218 -1,074,722 + 222,596 Other liabilities and accrued dividends 23,598 + 977 + 2,766 TOTAL LIABILITIES 49,856,927 -1,608,211 + 617,996 C A P I T AL A C C O U N TS Capital paid in 315.611 139 + 20,999 Surplus (Section 7) 693.612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 221,925 §416 +_ 48,461 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,115,618 L. 599,856 + 720,167 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.0$ .6f Contingent liability on acceptances purchased for foreign correspondents 45,356 185 19,150 Industrial loan commitments 2,577. 49 992 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JUNE 27, 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 526,888 63 5,200 133,600 16 days to gO days 10,478 80 11,353 7,939,635 91 days to 1 year 428 11,932,699 Over 1 year to 5 years 351 1,087,127 Over 5 years to 10 years 1,013,614 DigitizOedv feorr F R1A0S EyRe ars 1.414,857 http://fraser.stloTuoistfeadl.o rg/ 537,366 922 157553 23,521,532 Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK Qff JOTS 2?,, 1956 H.4.1(b) 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 L S o t u , i s M a i p n o n l e i - s Ka C n i s t a y s Dallas Fra S n a c n i sco A S S E TS Gold certificate account 20,269,389 891,790 5,359,034 1151,984 1849,250 1257,903 880,983 3744,395 840,720 333,094 808,744 696,735 2454,757 Redemption fund for F. R. notes 839.331 50.409 178.446 60.089 74.804 63.468 51.197 155.245 43.073 23.320 40.593 25.985 72,702 Total gold certificate 21,108,720 942,199 5,537,480 1212,073 1924,054 1321,371 932,180 3899,640 883,793 356,414 849,337 722,720 2527,459 reserves F.R. notes of other Banks 266,631 10,487 51,187 22,255 13,614 18,304 54,318 25,567 12,080 8,665 1 7 1 , ,2 6 6 6 0 4 1 1 4 3 , , 6 4 5 7 2 4 4 2 3 9 , , 6 0 9 1 6 6 Other cash 349,653 25,673 79,040 18,249 34,413 17,351 28,384 43,852 24,535 8,548 Discounts and advances 537,366 22,466 86,955 30,362 32,460 53,422 29,300 143,010 5,530 50,416 50,225 12,770 20,450 Industrial loans 922 300 570 52 Acceptances— Bought outright 16,553 16,553 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 2,303,839 550,068 791,749 563,597 470,685 1597,102 382,176 206,759 396,639 363,813 1024,332 61.283 121.400 111.353 313.518 Bonds 2.801.750 154.001 705.119 168.360 242.3% 172.501 l44.06l 488.827 116,973 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 23,491,632 Held under repurchase agreement 29.900 29.900 1291,241 5,942,227 1411.636 2031.862 1446.356 I20?v9l6 4098v632 980,776—530,606 1017;892—933,6^1—2628,73%, Total U. S. Govt, sees. 23,521,532 1314,007 6,045,735 1442,568 2064,322 1499,778 1237,216 4241,642 986,306 581,074 1068,117 946,421 2649,187 Total loans & securities 24,076,373 1 11 2 Due from foreign banks 22 1 l/ 6 2 2 1 1 3 1 318,289 510,364 376,100 794,001 186,691 117,580 220,048 250,801 486,390 B U a nc nk o l p l r e e c m t i ed s e c s a sh items 5,0 6 3 7 2 , , 7 7 2 8 5 0 481 5 , , 2 4 8 4 8 9 95 8 7 , : 4 5 4 5 1 7 4,916 6,988 6,636 4, 0 3 1 3 0 3,671 5,988 3,594 4,166 4,084 2,589 10,864 52.006 12.^61 18.248 12.952 11.708 38,796 8,672 4.717 9.091 9.888 23.919 Other assets 213.714 11.354 2790,458 12,731,452 3030,715 4572,005 2601,488 2105,672 1081,165 2169,602 1960,546 TOTAL ASSETS 51,115,618 3252,493 9049,489 5770,533 D1ig/iti zeAdf fotre FrRAS EdRe ducting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JUNE 27, 195& 5.4.1(c) (In thousands of dollars) Phi la 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 26,208,485 1588,948 5,989,189 1755,256 2459,308 1988,929 1302,452 5062,645 1178,518 515,747 1036,279 690,903 2640,311 Deposits: Member bank reserves 18,559,565 746,883 5,365,006 862,699 1484,955 814,896 890,904 3067,486 672,225 403,756 869,330 915,540 2465,885 U.S.Treas.-gen. acct. 575,507 42,425 102,710 42,071 43,905 43,197 41,463 91,041 31,571 21,730 30,388 31,770 53,236 Foreign 293,440 16,756 1/ 90,639 20,448 25,844 14,484 12,496 39,760 10,792 7,100 10,792 14,484 29,845 Other 290,114 2,858 223,485 10,047 886 1,679 1,207 973 7,489 548 1,460 1,050 38,432 Total deposits 19,710,62b 808,922 5,781,040 935,265 1555,590 ti74,256 946,070 3199,260 722,077 433,134 911,970 962,044 2587,398 Deferred availability cash items 3,906,218 316,634 606,954 249,887 441,581 321,295 293,751 601,994 154,982 99,174 170,341 243,497 406,128 Other liabilities and accrued dividends 23,598 1,444 6,929 1,133 2,456 1,124 1,0603,660 866 626 881 1,144 2,275 TOTAL LIABILITIES 49,856,927 2715^948 12,384^912 2941^541 4458/935 3185^604 2543^333 8867^559 2056,443 1048,681 2119,471 1898,388 5636^112 CAPITAL ACCOUNTS Capital paid in 315.611 16,365 91,430 20,056 30,008 14,505 14,633 42,171 10,812 7,019 12,633 17,285 38,694 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 221,925 13,467 51,964 15,138 19,493 14,023 11,919 36,436 10,247 6,806 10,401 9,719 22,312 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,115,618 2790,458 12,731,452 3030,715 4572,005 3252,493 2601,488 9049,489 2105,672 1081,165 2169,602 1960,546 5770,533 Wonting, liab, on acceptances purchased for foreign correspondents 45,356 2,679 2/ 12,940 3,269 4,132 2,315 1,998 6,356 1,725 1,135 1,725 2,315 4,767 Industrial loan commit. 2,577 101 240 108 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS ?. R. notes outstanding 27,123,226 1617,686 6,195,922 1827,281 2544,286"2039,181 1363,874 5162,946 1235,099 561,393 1070,701 731,494 2773,203 Zollat. for F. R. notes: 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 Gold certificate acct. ll,538,OOC 30,362 5,530 — 50,225 Eligible paper 86,117 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 U. S. Govt, securities l6,935,00C Total collateral 28,559,117 1840,000 6,470,000 1880,362 2570,000 2095,000 1500,000 5300,000 1355,530 610,000 1130,225 808,000 3000,000 t/ After deducting $202,776,000participations of other Federal Reserve Banks. D2i/gi tizAefd tfoer rF RdASeEdRu cting $32,416,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis