H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OP GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM July 26, 1956 WEEKLY AVERAGES OF MEMBER BAM RESERVES, RESERVE BAM CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF TEE FEDERAL RESERVE BANKS The weekly average of member bank reserve sfor the week ending July 25 decreased $125 million to $18,744 million. Estimated required reserves decreased $36 million; and estimated excess reserves decreased $89 million to $533 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $40 million, compared with $227 million the week before. The principal changes reducing reserves were decreases of $276 million in member bank borrowings, $82 million in Federal Reserve holdings of U. S. Government securities, and $19 million in Federal Reserve float. The principal offsetting changes were decreases of $176 million in money in circulation, $39 million in Treasury deposits with Federal Reserve Banks, and $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $376 million. As of Wednesday, July 25, holdings of U. S. Government securities bought outright were $118 million lower than a week earlier an dmember bank borrowings were $10 million higher. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items July 25, 1956 July 18, 19561 July 27T1955 (In million of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,408 - 79 -627 Held under repurchase agreement — — - 3 -105 Acceptances—bought outright 18 + 1 + 7 Loans, discounts, and advances— Member bank borrowings 573 -276 +178 Other 1 — — - 43 Float 1,393 - 19 +478 Total Reserve Bank credit 25,393 ^375 -113 Gold stock 21,828 + 1 +147 Treasury currency outstanding 5,032 + 1 + 30 52,253 -374 rss Money in circulation 30,632 -176 +475 Treasury cash holdings 773 + 5 - 25 Treasury deposits with F. R. Banks 556 - 39 + 76 Foreign deposits with F. R. Banks 288 - 32 -151 Other deposits with F. R. Banks 267 - 11 -136 Other F. R. accounts (net) 994 + 7 + 27 +266 33,510 -248 Member bank reserves-- 18,744 -125 -201 Required reserves (estimated) 18,211 ^15 -175 Excess reserves (estimated) 533 - 89 - 26 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 21,829 Treasury cash holdings 779 Treasury currency outstanding 5,034 Member bank) - Required (est.) 18,184 Money in circulation 30,533 reserves ) - Excess (est.) 131 On July 25, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,696 million, an increase of $7 million for the week and an increase of $449 million from the comparable date Digitizae d yfoer aFRrA SaEgRo . http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION H.4.1(a) OP THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) since July 25, July 18, July 27, 1956 1956 1955 A S S E TS Gold certificate account 20,283,392 2,002 + 122,289 Redemption fund for F. R. notes 855,988 + 1,879 + 22^852 Total gold certificate reserves 21,139,380 123 + 145,141 F. R. notes of other Banks 345,523 + 37,725 + 110,939 Other cash 392,155 + 16,210 + 26,734 Discounts and advances 461,388 + 9,528 87,929 - Industrial loans 909 5 + 548 Acceptances—bought outright - 17,116 — — + 6,778 U. S. Government securities: Bought outright— Bills 478,370 - 117,600 - 838,330 Certificates 10,932,699 — - +2,658,924 Notes 9,153,913 — - -2,491,924 Bonds 2,801,750 -- Total bought outright 23,366,732 - 117,600 - 671,330 Held under repurchase agreement 108,000 • «• • •* - Total U. S. Government securities 23,366,732 - 117,600 - 779,330 Total loans and securities 23,846,145 - 108,077 859,933 Due from foreign banks 22 -- Uncollected cash items 4,617,065 - 894,311 + 641,323 Bank premises 69,506 + 259 + 11,828 Other assets 190,751 - 54,287 + 22,715 TOTAL ASSETS 50,600,54% -1,002,604 + 98,747 L I A B I L I T I ES Federal Reserve notes 2266,,332266,,447744 - 115,781 + 493,535 Deposits: Member bank reserves 18,315,358 - 468,811 - 660033,,669999 U. S. Treasurer--general account 590,628 + 113,552 + 132,795 Foreign 261,800 - 26,816 - 181,087 Other 260,880 - 13,265 130,211 Total deposits 19,428,666 - 395,340 - 782,202 Deferred availability cash items 3,536,306 - 500,395 + 271,045 Other liabilities and accrued dividends 13,885 774 - 919 TOTAL LIABILITIES 49,305,331 -1,012,290 - 18,541 C A P I T AL A C C O U N TS Capital paid in 317,171 + 344 + 20,886 Surplus (Section 7) 693,612 ** — + 32,711 Surplus (Section 13b) 27,543 -- Other capital accounts 256,890 + 9,342 63,-6£ 91 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,600,547 -1,002,604 98z H Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.2# .5% Contingent liability on acceptances purchased for foreign correspondents 46,168 + 1,314 23,166 Industrial loan commitments 2,495, + 2 1.023 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. JULY 25. 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 455,976 1 67067 1017520 16 days to 90 days 5,169 128 11,109 376,950 91 days to 1 year 243 449 11,432,699 Over 1 year to 5 years 331 9,027,192 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,8:37 Digitized for FR T A o S t E a R l 461,388 909 177D3 23,366,732 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA. 1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON JULY 25, 1956 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,283,392 868,692 5,293,262 1143,372 1876,884 1264,335 952,306 3673,681 825,542 338,444 838,511 691,043 2517,320 Redemption fund for F. R. notes 855,988 59.179 177.511 61.688 74.4l6 72.328 50.984 154.812 42.945 23.278 40.489 25.897 72.461 Total gold certificate reserves 21,139,380 927,871 5,470,773 1205,060 1951,300 1336,663 1003,290 3828,493 868,487 361,722 879,000 716,940 2589,781 F.R. notes of other Banks 345,523 25,343 62,108 34,676 22,688 25,279 56,060 27,719 11,289 19,007 10,207 17,566 33,581 Other cash 392,155 28,632 85,288 21,299 37,991 19,728 32,292 58,079 24,873 9,167 12,296 14,727 47,783 Discounts and advances 461,388 8,601 38,465 40,365 43,350 31,929 18,375 144,100 27,400 49,510 39,900 11,793 7,600 Industrial loans 909 300 558 51 Acceptances— Bought outright 17,116 17,116 U. S. Govt, securities: Bought outright— Bills 478,370 26,294 120,394 28,745 41,376 29,453 24,598 83,462 19,972 10,805 20,728 19,012 53,531 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 2,801,750 154,001 705.139 168.160 242.132 172.501 144.061 488.827 116.073 $3,283 121,400 111,353 313,518 Total 23,366,732 1284,376 5,880,892 1404,130 2021,059 1438,666 1201,494 4076,841 975,561 527,784 1012,481 928,687 2614,761 Held under repurchase agreement Total U. S. Govt, sees. 23.366,732 1284.376 5.880.892 1404.130 2021.059 1438.666 1201.494 4076.841 975.561 527.784 1012.481 928.687 26l4.76l Total loans & securities 23,846,145 1293,277 5,936,473 1445,053 2064,409 1470,595 1219,869 4220,941 1002,961 577,345 1052,381 940,480 2622,361 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,617,065 463,915 854,738 284,612 418,818 349,998 330,991 704,841 182,959 117,222 219,953 238,695 450,323 Bank premises 69,506 5,417 8,621 4,893 7,027 6,772 3,998 5,968 3,907 4,461 4,129 3,347 10,966 Other assets 190,751 10,233 46,212 11.081 16.383 11,519 10,620 35,150 7.645 4.291 8.073 8.352 21,192 TOTAL ASSETS 50,600,547 2754,689 12,464,219 3006,676 4518,618 3220,555 2657,121 8881,194 2102,122 1093,216 2186,040 1940,108 5775,989 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 25, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta CChhiiccaaggoo Louis apolis City DDaallllaass Francisco L I A B I L I T I ES Federal Reserve notes 26,326,474 1596,286 6,028,902 1747,983 2470,992 1991,912 1300,513 5108,183 1175,529 512,755 104l,8l4 699,888 2651,717 Deposits: Member bank reserves 18,315,356 761,528 5,241,666 867,822 1490,736 810,361 913,448 2906,065 674,600 414,423 849,949 908,978 2475,782 U.S.Treas.-gen. acct. 590,628 40,238 58,915 38,608 57,000 50,821 64,699 75,771 33,996 26,4i4 44,46i 45,192 54,513 Foreign 261,800 14,691 1/ 83,989 17,928 22,659 12,699 10,956 34,860 9,462 6,225 9,462 12,699 26,170 Other 260,680 2,672 190,541 10,335 941 2,911 1,223 1,797 7,114 924 1,797 936 39,689 Total deposits 19,42b,666 819,129 5,575,111 934,693 1571,336 876,792 990,326 3018,493 725,172 447,986 905,669 967,805 2596,154 Deferred availability cash items 3,536,306 262,161 500,936 231,695 358,395 282,224 305,790 563,321 150,250 98,679 186,274 208,274 388,307 Other liabilities and accrued dividends 13,885 868 3,309 622 1,590 662 597 2,562 475 480 551 633 . 1,536 TOTAL LIABILITIES 49,305,331 2678,444 12,108,258 2914,993 4402,313 3151,590 2597,226 8692,559 2051,426 1059,900 2134,308 1876,600 5637,714 CAPITAL ACCOUNTS Capital paid in 317,171 16,391 91,611 20,401 30,319 14,547 14,735 42,381 10,898 7,049 12,733 17,370 38,736 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 2,140 Other capital accounts 256,890 15,176 61.204 17.302 22,417 16,057 13.557 42,931 11.628 7.608 11.902 10.984 26.124 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,600,547 2754,689 12.464,219 3006,676 4518,618 3220,555 2657,121 8881,194 2102,122 1093.216 2186,040 1940,108 5775,989 Conting. liab. on acceptances purchased for foreign correspondents 46,168 2,726 2/ 13,181 3,326 4,204 2,356 2,033 6,468 1,756 1,155 1,756 2,356 4,851 Industrial loan commit. 2,495 -- - - 73 187 107 2,128 FF.. RR.. nnootteess oouuttssttaannddiinngg 27,309,449 1656,004 6,234,414 1821,697 2558,487 2063,194 1370,706 $207,371 1228,765 558,908 1071,292 738,044 2800,567 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 EElliiggiibbllee ppaappeerr 100,665 - - -- 33,365 -- -- -- -- 27,400 39,900 -- — UU.. SS.. GGoovvtt,, sseeccuurriittiieess 16,985,000 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 3000,000 900,000 460,000 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 28,583,665 1780,000 6,470,000 1883,365 2590,000 2145,000 1500,000 5300,000 1377,400 610,000 1119,900 808,000 3000,000 1/ After deducting $177,78* 5,000 participations of other Federal Reserve Banks. |/ After deducting $32,98' 7,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis