H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.I OF THE FEDERAL RESERVE SYSTEM July 5# 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 July 4 decreased $128 million to $18,902 million. Estimated required reserves decreased $9 million; and estimated excess reserves decreased $119 million to $4-73 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $170 million, compared with $l64 million the week before. $278 The principal changes reducing reserves were an increase of million in money in circulation, and decreases of $138 million in Federal Reserve float and $113 million in member bank borrowings. The principal offsetting changes were an increase of $313 million in Federal Reserve holdings of U. S. Government securities and a decrease of $78 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $63 million. As of Wednesday, July 4, holdings of U. S. Government securities bought outright were $348 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $6 million lower, and member bank borrowings were $33 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items July 4, 1956 June 27, 19561 July 6, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- +296 + 56 Bought outright—System account 23,748 Held under repurchase agreement 43 + 17 + 32 Acceptances-- Bought outright 18 + 1 + 3 Held under repurchase agreement * + * + * Loans, discounts, and advances— Member bank borrowings 643 -113 + 8 Other 1 • - 53 Float 1,231 -138 +373 Total Reserve Bank credit 25t59r5 + 63 +419 21,806 +128 Gold stock + 7 Treasury currency outstanding 5,032 - l + 29 52,522-3 + 70 +576 Money in circulation 30,769-5 +278 +464 Treasury cash holdings 774 3 - 5 * 38 Treasury deposits with F. R. Banks 49a- 3 - 78 + 72 Foreign deposits with F. R. Banks 298 + l ™ 69 298 + 8 -170 Other deposits with F. R. Banks + 23 Other F. R. accounts (net) 993 - 7 +283 33,629-1 +198 +293 Member bank reserves-- 18,902 -128 Required reserves (estimated) 18,429 - 9 +g44 Excess reserves (estimated) 473 -119 - 51 *Less than $500,000. 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 21,824 Treasury cash holdings 773 18,388 Treasury currency outstanding 5,031 Member bank) - Required (est.) Money in circulation 30,879 reserves ) - Excess (est.) 542 On July 4, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,633 million, a decrease of $69 million for the week and an increase of $336 million from the comparable Digitizedda ftore F RaA SEyRe ar ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.l(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 4, June 27, July 6, 1956 1956 1955 A S S E TS Gold certificate account 20,290,392 + 21,003 134,289 Redemption fund for F, R. notes 843,128 ±- 3,797 8,486 Total gold certificate reserves 21,133,520 + 24,800 142,775 F. R. notes of other Banks 213,342 53,289 56,569 Other cash 341,550 8,103 29,624 29,068 Discounts and advances 570,084 32,718 Industrial loans 874 48 429 Acceptances--bought outright 17,536 983 2,406 U. S. Government securities: Bought outright— Bills 950,970 + 347,700 - 171,830 Certificates 10,932,699 +2,658,924 Notes 9,153,913 -2,491,924 Bonds 2,801,750 Total bought outright 23,839,332 347,700 - 4,830 Held under repurchase agreement 23,500 -6,400 + 19,500 Total U. S. Government securities 23,862,832 341,300 + 14,670 Total loans and securities 24,451,326 + 374,953 - 11,563 Due from foreign banks 22 Uncollected cash items 4,702,553 330,227 + 761,681 Bank premises 67,786 + 61 + 10,705 Other assets 224,165 +_ 10,451 + 74,866 TOTAL ASSETS 51,134,264 + 1%646 +1,064,657 L I A B I L I T I ES Federal Reserve notes 26,485,572 + 277,087 + 467,495 Deposits: Member bank reserves 370,676 + 455,481 U. S. Treasurer—general account x\9»: 128,981 - 21,770 Foreign 291,027 - 2,413 - 91,491 Other 286,^76 3,538 z. 164,861 Total deposits 19,954^^/+ 235,744 + 177,399 Deferred availability cash items 3,4lQ,0'i9- 494,169 + 313,691 Other liabilities and accrued dividends 14,870 - 8,728 +_ 1,266 TOTAL LIABILITIES 49,666 861 — 9,934 + 959,851 C A P I T AL A C C O U N TS Capital paid in 316,051 440 + 20,488 Surplus (Section 7) 693,612 - - + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 230,197 +_ 8,272 + 51,601 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51.134,264 + 18,646 +1.064,657 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5# .3$ Contingent liability on acceptances purchased for foreign correspondents 44,819 537 + 19,744 Industrial loan commitments 2.585 8 - §51 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 4, 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 V. S. Government advances loans Acceptances securities Within 15 days 56*1557 1 5,062 226,200 16 days to 90 days i -9-, 527 142 12,474 8,688,335 91 days to 1 year 399 11,432,699 Over 1 year to 5 years 332 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years m 1.414,857 Total 570,084 17,536 23,862,832 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 4, 1956 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 825,879 Gold certificate account 20,290,392 913,909 5,364,527 1171,817 1807,321 1230,566 888,810 3651,113 352,248 809,997 723,603 2550,602 Redemption fund for F. R. notes 843.128 54,404 178,409 60.074 74.770 63.460 51.181 155.221 41.058 21.313 40.586 25.981 72.671 Total gold certificate reserves 21,133,520 968,313 5,542,936 1231,891 1882,091 1294,026 939,991 3806,334 868,937 375,561 850,583 749,584 2623,273 F.R. notes of other Banks 213,342 8,026 35,843 13,732 11,361 16,892 53,677 17,675 8,04l 7,713 6,016 11,156 23,210 Other cash 341,550 22,476 70,897 17,484 32,454 17,387 29,291 52,643 24,006 8,157 11,441 14,784 40,530 Discounts and advances 570,084 17,714 40,950 34,912 33,130 30,357 18,800 199,230 11,200 58,740 81,481 19,020 24,550 Industrial loans 874 300 522 52 Acceptances-- Bought outright 17,536 17,536 - — -- -- " - - -- U. S. Govt, securities: Bought outright— Bills 950,970 52,271 239,337 57,144 82,252 58,551 48,899 165,917 39,703 21,480 41,205 37,796 106,415 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 2,801,750 154,001 705.139 168.360 242,332 172.501 144.063 488.827 116.971 61.281 121.400 . 111,353 313,518 Total 23,839,332 1310,353 5,999,835 1432,529 2061,935 1467,764 1225,795 4159,296 995,292 538,459 1032,958 947,471 2667,645 Held under repurchase agreement 23,500 23,500 est «• m mm -» •» — — • • •- Total U. S. Govt, sees. 23,862,832 1310,353 6.021.115 1412.529 2061.915 1467.764 1225.795 4159.296 995,292 538.459 1032.958 947.471 2667.645 Total loans & securities 24,451,326 1328,367 6,081,821 1467,963 2095,065 1498,121 1244,595 4358,526 1006,492 597,251 1114,439 966,491 2692,195 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,702,553 484,115 958,524 286,187 414,728 339,620 344,230 736,404 184,321 109,160 212,300 215,419 417,545 Bank premises 67,786 5,449 8,418 4,916 6,980 6,665 4,010 5,968 3,693 4,166 4,071 2,586 10,864 Other assets 224,165 11.920 54.801 12.998 19.120 13.562 12.309 40.855 9.044 4.868 9,651 10.121 24.916 TOTAL ASSETS 51,134,264 2828.667 12.753.246 1035.171 4461.801 3186.274 2628.104 9018.408 2104.515 1106.877 2208,502 1970,142 5832,53,5... 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 4, 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 26,485,572 1611,591 6,061,881 1764,426 2479,226 2004,969 1316,056 5113,939 1183,900 517,000 1047,716 697,535 2687,333 Deposits: Member "bank reserves 18,930,241) 797,088 5,377,488 901,424 1483,838 801,609 918,785 3074,623 6?4 441,340 901,673 992,869 2565,371 U.S.Treas.-gen. acct. 446^c6l 30,067 45,447 29,932 36,382 31,447 37,300 97,509 17,831 27,578 20,329 46,l4l Foreign 291,02? 16,697 1/ 88,940 20,376 25,753 14,433 12,452 39,620 10,754 7,075 10,754 14,433 29,740 Other 286,576 3,115 210,021 9,792 3,278 3,004 1,747 616 7,671 810 1,160 1,030 44,332 467,056 941,165 1028,661 2685,584 Total deposits 19, 846,967 5,721,896 961,524 1549,251 850,493 970,284 3212,368 7 W S1 9 5W -xa,0*3 Deferred availability cash items 294,384 615,972 218,893 317,770 262,803 282,589 505,695 151,4^ 89,723 168,550 181,111 323,150 Other liabilities and accrued dividends 14,870 870 4,603 680 1,815 591 581 2,830 445 44l 536 4o6 1,072 TOTAL LIABILITIES 49,866,861 2753,812 12,404,352 2945,523 4348,062 3118,856 2569,510 8834,832 2054,875 1074,220 2157,967 1907,713 5697,139 CAPITAL ACCOUNTS Capital paid in 316,051 16,374 91,483 20,069 30,075 14,509 14,651 42,276 10,862 7,027 12,702 17,318 38,705 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 33,84? 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 230,197 13,803 54,265 15,601 20,095 14,548 12,340 37,977 10,628 6,971 10,736 9,957 23,276 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,134,264 2828,667 12,753,246 3035,173 4461,801 3186,274 2628,104 90l8,4o8 2104,535 1106,877 2208,502 1970,142 5832,535 Conting. liab. on acceptances purchased for foreign correspondents 44,819 2,643 2/ 12,832 3,226 4,077 2,285 1,971 6,272 1,702 1,120 1,702 2,285 4,704 Industrial loan commit. 2,585 — • — — 109 240 108 2.128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,234,868 1636,015 6,229,591 1829,657 2554,627 2046,800 1362,488 5191,529 1230,506 562,192 1067,4l6 737,466 2786,581 Collat. for F. R. notes: 580,000 2,870,000 650,000 1090,000 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 Gold certificate acct. 11,498,000 Eligible paper 127,593 —— — — 34,912 — — — — — — —— 11,200 —— 8l,48l -— — U. S. Govt, securities 16,935,000 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 28.560.59ll1780.000 6.470.000 1884.912 2590.000 2095.000 1/ After deducting $202,(0 62,000 participations of other Federal Reserve Banks. 2/ After deducting $ 31,987,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis