H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM July 19, 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 18 decreased $171 million to $18,869 million. Estimated required reserves decreased $37 million; and estimated excess reserves decreased $134 million to $622 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $227 million, compared with $123 million the week before. The principal changes reducing reserves were decreases of $346 million in Federal Reserve holdings of U. S. Government securities and $30 million in member bank borrowings, and an increase of $158 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $243 million in Federal Reserve float and a decrease of $115 million in money in circulation. Total Reserve Bank credit decreased $134 million. As of Wednesday, July 18, holdings of U. S. Government securities bought outright were $165 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $1 million lower, and member bank borrowings were $201 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items July 18, 1956 July 11, 19561 July 20Tl955 (In million of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,487 -339 -456 Held under repurchase agreement 3 - 7 + 3 Acceptances--bought outright 17 + 3 Loans, discounts, and advances-- Member bank borrowings 849 - 30 +547 Other 1 - 1 - 54 Float 1,412 +243 +294 Total Reserve Bank credit 25,769 -134 +337 Gold stock 21,827 + l +147 TreaHury currency outstanding 5.Q31 + 28 52,627 :i33 +512 Money in circulation 30,808 -115 +521 Treasury cash holdings 768 - 2 - 25 Treasury deposits with F. R. Banks 595 +158 +179 Foreign deposits with F. R. Banks 320 + 11 -140 Other deposits with F. R. Banks 278 - 12 -137 Other F. R. accounts (net) 987 - 3 + 17 33,758 +15 +417 Member bank reserves-- 18,869 -171 + 95 Required reserves (estimated) 18,247 - 37 + 38 Excess reserves (estimated) 622 -134 + 57 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 million of dollars: Gold stock 21,828 Treasury cash holdings 774 Treasury currency outstanding 5,031 Member bank) - Required (est.) 18,280 Money in circulation 30,704 reserves ) - Excess (est.) 504 On July 18, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,689 million, an increase of $63 million for the week and an increase of $407 million from the comparable Digitized for FRASER date a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4,1(a) STATEMENT OP CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since July 18, July 11, July 20, 1956 1956 1955 A S S E TS Gold certificate account 20,285,394 + 1 + 124,293 Redemption fund for F. R. notes 854,109 - 1,387 + 17,136 Total gold certificate reserves 21,139,503 1,386 + 141,429 F. R. notes of other Banks 307,798 + 44,351 + 80,053 Other cash 375,945 + 22,521 + 27,140 Discounts and advances 451,860 200,689 118,259 • - Industrial loans 914 + 8 + 535 Acceptances—bought outright 1177,,111166 - 116 + 4,727 U. S. Government securities: Bought outright— Bills 595,970 - 164,700 - 626,230 Certificates 10,932,699 — — +2 ,658,924 Notes 9,153,913 - - -2,491,924 Bonds 2,801,750 • - Total "bought outright 23,484,332 - 164,700 - 459,230 Held under repurchase agreement W — - 1,500 —— Total U. S. Government securities 23,484,332 - 166,200 - 459,230 . Total loans and securities 23,954,222 366,997 572,227 Due from foreign banks ' 22 -» — —— Uncollected cash items 5,511,376 + 751,465 + 867,853 Bank premises 69,247 + 1,346 + 11,532 Other assets 245,038 + 9,728 + 84,555 TOTAL ASSETS 51,603,151 + 461,028 + 640,335 L I A B I L I T I ES Federal Reserve notes 26,442,255 70,213 + 552,753 - Deposit: Member bank reserves 1188,,778844,,116699 + 116611,,220077 25,732 - U. S. Treasurer—general account 477,076 17,251 87,057 - - Foreign 288,616 - 37,637 - 150,458 Other 274,145 - 10,569 • 140,778 Total deposits 19,824,006 + 95,750 404,025 - Deferred availability cash items 4,036,701 426,624 + 378,537 Other liabilities and accrued dividends 14,659 - 22 + 260 TOTAL LIABILITIES 50,317,621 + 452,139 + 527,525 C A P I T AL A C C O U N TS Capital paid in 316,827 + 306 + 20,798 Surplus (Section 7) 693,612 + 32,711 " Surplus (Section 13b) 27,543 " Other capital accounts 247,548 + 8,583 + 59,301 TOTAL LIABILITES AND CAPITAL ACCOUNTS 51,603,151 + 461,028 + 640,335 Ratio of gold certificate reserves to deposit and F. R. note liabilites combined 45.7% - - + .2£ Contingent liability on acceptances purchased for foreign correspondents 44,854 + 162 + 21,105 Industrial loan commitments 2,493 + 181 1,010 - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, JULY 18, 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 447,270 1 7,059 - 7,993,485 16 days to 90 days 4,497 154 10,057 542,550 91 days to 1 year 93 428 11,432,699 Over 1 year to 5 years 331 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for TFoRAtSaElR 451,860 915 17,116 23,484,332 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b)' STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BANKS ON JULY 18, 1956 Total Boston New York Phila- Cleve- Richmond Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass San delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,285,394 913,602 5,339,993 1132,574 1857,235 1258,040 906,030 3592,208 838,338 351,883 866,012 700,456 2529,023 Redemption fund for F. R. notes 854,109 59,182 177,544 59,694 74,420 72,337 50,990 154,841 42,948 23,282 40,498 25,903 72,470 Total gold certificate reserves 21,139,503 972,784 5,517,537 1192,268 1931,655 1330,377 957,020 3747,049 881,286 375,165 906,510 726,359 2601,493 F.R. notes of other Banks 307,798 18,948 60,686 28,499 18,643 25,931 54,381 25,437 9,959 13,613 8,6o4 12,306 30,791 Other cash 375,945 27,170 85,366 19,417 33,963 18,983 32,131 56,705 23,125 9,143 11,503 13,287 45,152 Discounts and advances 451,860 4,356 40,450 45,972 38,725 20,849 5,125 169,550 13,100 42,630 41,740 12,063 17,300 Industrial loans 914 300 563 51 Acceptances— Bought outright 17,116 17,116 U. S. Govt, securities: Bought outright— Bills 595,970 32,758 149,992 35,812 51,547 36,694 30,645 103,979 24,882 13,462 25,823 23,686 66,690 Certificates 10,532,699 600,927 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 2,801,750 154,001 705.139 168.360 242.332 172.501 144.063 488.827 116.973 63.283 121.400 m,353 313,518 Total 23,484,332 1290,840 5,910,490 1411,197 2031,230 1445,907 1207,541 4097,358 980,471 530,441 1017,576 933,361 2627,920 Held under repurchase agreement Total U. S. Govt, sees. 23.484.332 1290,840 5.910.490 1411.197 2031.230 1445.907 1207.541 4097.358 980.471 530.441 1017.576 933.361 2627.920 Total loans & securities 23,954,222 1295,496 5,968,056 1457,732 2069,955 1466,756 1212,666 4266,908 993,571 573,122 1059,316 945,424 2645,220 Due from foreign "banks 22 1 1/6 2 2 1 13 1 1 1 1 2 Uncollected cash items 5,511,376 556,248 993,780 325,192 509,750 426,530 400,265 866,887 228,849 137,818 249,800 255,777 560,480 Bank premises 69,247 5,451 8,473 4,916 7,029 6,716 4,010 5,968 3,883 4,461 4,129 3,347 10,864 Other assets 245.038 13.236 59.991 14.324 20.904 14.805 13.386 44.604 9.900 5.446 10.517 10.551 27.374 TOTAI, ASSETS 51,603,151 2889,334 12,693,895 3042,350 4591,901 3290,099 2673,860 9013,561 2150,574 1118,769 2250,380 1967,052 5921,376 Dlig/iti zeAdf fotr eFrR AdSEeRd ucting $16,006 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 18, 1956 (in thousands of dollars) Total Boston j New York , 2 %% Richmond Atlanta Chicago ^ % %% TT LLL III AAA BBB III LLL III TTT III EEESSS FFFeeedddeeerrraaalll RRReeessseeerrrvvveee nnnooottteeesss 26,442,255 1603,539 6,042,406 1756,081 2481,280 2006,4ll 1311,294 5122,654 1180,749 516,188 1047,328 702,124 2672,201 DDDeeepppooosssiiitttsss::: MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss 18,784,169 863,956 5,328,566 905,389 1511,527 841,438 914,992 2939,186 682,472 420,719 899,710 937,586 2538,628 UUU...SSS...TTTrrreeeaaasss...---gggeeennn... aaaccccccttt... 477,076 32,291 79,300 34,895 42,641 26,397 37,659 58,884 34,747 28,703 39,410 27,530 34,619 FFFooorrreeeiiigggnnn 288,616 16,520 1/ 88,671 20,160 25,480 14,280 12,320 39,200 10,640 7,000 10,640 14,280 29,425 OOOttthhheeerrr 274,145 3,284 198,454 9,973 1,013 4,187 1,415 1,672 8,127 707 4,854 l,4li 39,048 TTToootttaaalll dddeeepppooosssiiitttsss 19,824,00b 916,051 5,694,991 970,417 1580,661 886,302 966,386 3038,942 735,986 457,129 95^,614 980,807 2641,720' DDDeeefffeeerrrrrreeeddd aaavvvaaaiiilllaaabbbiiillliiitttyyy cccaaassshhh iiittteeemmmsss 4,036,701 292,873 599,152 224,050 413,039 328,391 336,160 662,291 183,126 111,822 196,648 220,380 468,769 OOOttthhheeerrr llliiiaaabbbiiillliiitttiiieeesss aaannnddd aaaccccccrrruuueeeddd dddiiivvviiidddeeennndddsss 14,659 1,091 3,799 708 1,524 592 585 2,873 407 5 34 489 616 i,44l TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 50,317,621 2813,554 12,340,348 2951,256 4476,504 3221,696 2614,425 8826,760 2100,268 1085,673 2199,079 1903,927 5784,131 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 316,827 16,391 91,586 20,387 30,169 14,544 14,720 42,299 10,889 7,048 12,727 17,332 38,735 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 33,847 71,275 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn iiijjjbbb))) 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 247,548 14,711 58,815 16,727 21,659 15,498 13,112 41,179 11,247 7,389 11,477 10,639 25,095 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,603,151 2889,334 12,693,895 3042,350 4591,901 3290,099 2673,860 9013,561 2150,574 1118,769 2250,380 1967,052 5921,376 1" — " " Conting. liab. on accept-| ances purchased for I foreign correspondents 44,854 2,649 2/ 12,795 3,233 4,085 2,290 1,976 6,286 1,706 1,123 1,706 2,290 4,715 Industrial loan commit. [ 2,493 -- - - 68 190 -- — 107 -- -- 2,128 -- — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,361,195 l6b2,391 6,246,229 1824,989 2557,218 2064,014 1374,734 5218,786 1233,823 560,051 1075,350 737,836 2805,774 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,498,000 580,000 2,870,000 650,000 1090,000 845,000 569,000 2300,000 450,000 150,000 280,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 90,812 — -- 35,972 — -- — -- 13,100 -- 4i,74o — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 16,985,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 3000,000 900,000 46o,coo 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 28,573,812 1780,000 6,470,000 1885,972 2590,000 2145,000 1500,000 5300,000 1363,100 610,000 1121,740 808,000 .3000,000 1/ After deducting $199,920,000 participations of other Federal Reserve Banks. 2/ After deducting $32,059,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis