H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H. If. 1 OF THE FEDERAL RESERVE SYSTEM July 12, 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 ban kreserves for the week ending July 11 increased $138 million to $19,040 million. Estimated required reserves decreased $153 million; and estimated excess reserves increased $291 million to $763 million. Member bank borrowings at the Federal Reserve B.anks exceeded exceed-reserves by $116 million, compared".with. $171 millio nthe week before. The principal changes supplying reserves were increases of $236 million in member bank borrowings, $4% million in Federal Reserve holdings of U. S. Government securities, and $20 million in gold stock, and a decrease of $56 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $160 million in money in circulation and a decrease of $62 million in Federal Reserve float. Total Reserve Bank credit increased $219 million. As of Wednesday, July 11, holdings of U. S. Government securities bought outright were $190 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $22 million lower, and member bank borrowings were $82 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Chang , e from week ending and related items July 11, 1956 July 4 r" l - 9 sy 56 - 1 J \ uly 13, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,826 + 78 -117 Held under repurchase agreement 10 - 33 - 4 Acceptances-- Bought outright 17 - 1 . * Held under repurchase agreement Loans, discounts, and advances-- +236 +247 Member bank borrowings 879 Other 2 + 1 - 52 Float 1,169 - 62 +256 Total Reserve Bank credit 25,903 +219 +332 Gold stock 21,826 + 20 +147 Treasury currency outstanding 5,031 - 1 + 28 52,760 +238 +507 +160 +507 Money in circulation 30,923 Treasury cash holdings 770 6 - 33 Treasury deposits with F. R. Banks 437 - 56** - 3 Foreign deposits with F. R. Banks 309 + 11 -116 Other deposits with F. R. Banks 290 - 8 -129 Other F. R. accounts (net) 990 - 3 + 19 33,720 +100 +2hb Member bank reserves-- 19,0^0 +138 +261 Required reserves (estimated) 18,277 -153 +230 Excess reserves (estimated) 763 +291 + 31 *Less than $500,000. **July 4 figure revised. 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 21,827 Treasury cash holdings 762 Treasury currency outstanding 5>031 Member bank) - Required (est.) lo,^5 Money in circulation 30,850 reserves ) - Excess (est.) 3 5 On July 11, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3>^26 million, a decrease of $7 million for the week and an increase of $3^7 million from the comparable da e Digitized for FRASER http://fraase r.ysteloauirsf eda.ogrog/. Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION 6.4.1(a) OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) since July 11, July 4, July 13, 1956 1956 1955 A SS E T S Gold certificate account 20,285,393 4,999 + 127,289 Redemption fund for F. R. notes .855,496 + 12,368 + 20,523 Total gold certificate reserves 21,140,889 + 7,369 + 147,812 F. R. notes of other Banks 263,447 + 50,105 + 52,139 Other cash 353,424 + 11,874 + 22,109 Discounts and advances 652,549 + 82,465 + 149,054 Industrial loans 906 + 32 + 460 Acceptances--bought outright 17,232 304 + 1,810 • U. S. Government securities: Bought outright— Bills 760,670 190,300 461,530 Certificates 10,932,699 — +2! ,658,924 Notes 9,153,913 -2,491,924 Bonds 2,801,750 —— - - Total bought outright 23,649,032 190,300 294,530 - - Held under repurchase agreement 1,500 22,000 + 1,500 - Total U. S. Government securities 23,650,532 212,300 293,030 - - Total loans and securities 24,321,219 - 130,107 - 141,706 Due from foreign banks 22 «. - -- Uncollected cash items 4,759,911 + 57,358 + 194,922 Bank premises 67,901 + 115 + 10,604 Other assets 235,310 + 11,145 + 81,302 TOTAL ASSETS 51,142,123 + 7,859 + 367,182 L I A B I L I T I ES Federal Reserve notes 26,512,468 + 26,896 + 530,409 Deposits: Member bank reserves 18,622,962 • 307,279 - 133,757 U. S. Treasurer--general account 494,327 + 44,879* + 156,782 Foreign 326,253 + 35,226 - 122,564 Other 284,714 • 1,862 - 110,763 Total deposits 19,728,256 - 229,036* 210,302 Deferred availability cash items 3,610,077 + 200,950* - 62,683 Other liabilities and accrued dividends 14,681 189 + 881 - TOTAL LIABILITIES 49,865,482 - 1,379 + 258,305 C A P I T AL A C C O U N TS Capital paid in 316,521 + 470 + 20,645 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 -- — Other capital accounts 238,965 + 8,768 + 55,521 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,142,123 + 7,859 + 367,182 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7# + .2# Contingent liability on acceptances purchased for foreign correspondents 44,692 • 127 + 18,959 Industrial loan commitments 2,3*£ - 273 - 1,126 *July 4 figures revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 11, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) b? Discounts and Industrial U. S. Government advances loans Acceptances •securities Within 15 days — 85 1 111,200 16 days to $0 days 145 11,219 8,591,035 91 days to 1 year 419 11,432,699 Over 1 year to 5 years 341 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER Total 652,549 90S 1?,232 23,650,532 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 11, 1956 (In thousands 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 Gold certificate account 20,265,393 9^3,m 5,141,740 1134,020 1867,728 1251,810 915,490 3663,428 833,834 382,151 851,058 704,636 2596,325 Redemption fund for F. R. notes 855,496 59,252 177,843 59,826 74,539 72.719 51,059 154.966 42.988 23,294 40.528 25.935 72.547 Total gold certificate reserves 21,140,889 1002,425 5,319,583 1193,846 1942,267 1324,529 966,549 3818,394 876,822 405,445 891,586 730,571 2668,872 F.R. notes of other Banks 263,447 11,632 54,560 21,035 15,735 20,469 45,891 24,579 9,682 9,357 8,275 12,912 29,320 Other cash 353,424 25,043 76,418 17,092 33,241 17,792 28,479 55,4l6 23,122 8,395 10,846 13,789 43,791 Discounts and advances 652,549 Industrial loans 906 Acceptances— Bought outright 17,232 U. S. Govt, securities: Bought outright-- Bills 760,670 Certificates 10,932,699 Notes 9,153,913 Bonds 2.801.750 Total 23,642*012 Held under repurchase agreement 1.500 Total U. S. Govt, sees. Total loans & securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 5 sta 1 . 143,750 46,437 41,980 17,549 13,400 255,900 4,825 19,480 68,236 5,520 18,000 554 52 17,232 41,811 191,443 45,709 65,793 46,834 39,114 132,715 31,758 17,182 32,959 30,232 85,120 600,927 2,751,520 656,957 945,602 673,115 562,148 1907,450 456,440 246,937 473,714 434,509 1223,380 503,154 2,303,839 550,068 791,749 563,597 470,685 1597,102 382,176 206,759 396,639 363,813 1024,332 154.001 705.139 168.360 242 112 172.501 144.061 488.827 116.971 ... 63,28 1121,400 111,151 111.,..5.18. r 4292,693 1481*094 2045*476 1456,047 1216,010 412.6,094 987,347 534,161 1024,712 939,907 2646,350 , 1,500 mm « «• — — «- «• — — — — - - • - — - 23,650,532 1299.893 5.953.441 1421.094 2045.476 l456.047 1216.010 4126.094 987.347 534.l6l 1024.712 939.907 2646.150 24,321,219 1317,665 6,114,423 1468,085 2087,456 1473,596 1229,410 4381,994 992,172 553,693 1092,948 945,427 2664,350 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 4,759,911 438,871 8167830 274,603 453,988 376,706 342,722 761,665 198,947 120,701 245,963 244,918 483,997 67,901 5,449 8,473 4,916 6,980 6,715 4,010 5,968 3,692 4,166 4,082 2,586 10,864 235,310 12.625 57.581 13.695 19.803 14.291 12.834 42.817 9.461 5.212 10.080 10.643 26,248 51,142,123 2813.711 12.447,874 2993,274 4559.472 3234.099 2629.896 9090.836 2113.899 1106.990 2263.781 i960.#7 5927,444 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 11, 1956 (In thousands of dollars) Total Boston New York lRichmond Atlanta Chicago %% Sty" 1 DallaS Francisco LL II AA BB II LL II TT II EESS FFeeddeerraall RReesseerrvvee nnootteess 26,512,468 1611,484 6,049,677 1761,488 2484,090 2013,317 1320,337 5127,409 1184,019 517,798 1048,945 703,156 2690,748 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,622,962 797,520 5,125,600 878,727 1512,153 813,199 914,798 3070,387 675,853 418,433 911,040 927,726 2577,526 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 494,327 39,293 82,205 32,780 36,353 35,265 34,738 62,316 23,759 25,231 34,774 34,674 52,939 FFoorreeiiggnn 326,253 18,113 1/107,030 22,104 27,937 15,657 13,508 42,980 11,666 7,675 11,666 15,657 32,260 OOtthheerr 284,714 3,168 * 210,084 10,097 1.458 4,205 2,942 1,927 6,891 766 2,888 1,137 39,151 TToottaall ddeeppoossiittss 19,728,256 858,094 5,524,919 943,708 1577,901 868,326 965,9% 3177,610 710,169 452,105 960,368 979,194 2701,876 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 3,610,077 267,843 517,831 196,885 381,423 283,843 283,934 597,932 161,230 103,716 202,952 215,167 397,321 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 14,681 942 4,306 655 1,446 702 661 2,719 501 48l 570 529 1,169 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 49,865,482 2738,363 12,096,733 2902,736 4444,860 3166,188 2570,918 8905,670 2063,919 1074,100 2212,835 1098,046 5791,114 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 316,521 16,385 91,484 20,363 30,121 14,537 14,658 42,294 10,882 7,039 12,718 17,323 38,717 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 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 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 238,965 14,285 56,511 16,195 20,922 15,013 12,717 39,549 10,928 7,192 11,131 10,324 24,198 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD 2813,711 12,447,874 2993.274 4559,472 3234,099 2629,896 9090,836 2113,899 1106,990 2263,781 1960,847 5927,444 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 51,142,123 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr 2,637 2/ 12,776 3,218 4,068 2,280 1,967 6,258 1,699 1,117 1,699 2,280 4,693 fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 44,692 - __ 77 206 — -- 107 — — 2,128 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 2.518 FEDERAL RESERVE AGENTS' ACCOUNTS 1648,686 6,249,855 1828,784 2555,559 2066,520 1374,632 5200,326 1225,56b 500,953 iu/b,<*ui FF.. RR.. nnootteess oouuttssttaannddiinngg 27,341,898 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,498,000 „ 46,437 — — — — 4,825 — 68,236 EElliiggiibbllee ppaappeerr 119,498 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 16,935,000 1780000 6,470,000 1096,437 2590,000 2095,000 1500,000 5300,000 1354,025 610,000 1140,236 808,000 3000,000 TToottaall ccoollllaatteerraall 28,552,498 1/ After deducting $219,1965 ,000 participations of other Federal Reserve Banks. 2/ After deducting $31,916 >,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis