H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM August 2, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BAM CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending August 1 decreased $153 million to $18,591 million. Estimated required reserves decreased $94 million; and estimated excess reserves decreased $59 million to $485 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $205 million, compared with $29 million the week before. The principal changes reducing reserves were a decrease of $347 million in Federal Reserve float and an increase of $2? million in "other" F. R. accounts (net). The principal offsetting changes were increases of $117 million in member bank borrowings and $10 million in Federal Reserve holdings of U. S. Government securities, and decreases of $57 million in money in circulation and $37 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $221 million. As of Wednesday, August 1, holdings of U. S. Government securities bought outright were $51 million higher than a week earlier and member bank borrowings were $39 million lower. Member bank reserves, Weekly averages of daily figures Reserve Bank credit, Week ending Change from week ending and related items Aug. 1, 1956 July 25, 1956I Aug. 3, 1955 (In million of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,418 + 10 -564 Held under repurchase agreement - 62 Acceptances—bought outright 18 + 7 Loans, discounts, and advances- Member bank borrowings 690 +117 - 51 Other 1 - 39 Float 1,046 -347 +244 Total Reserve Bank credit 25,172 -221 Gold stock 21,829 + 1 +147 Treasury currency outstanding 5,034 + 2 + 31 52,035 -218 ^288 Money in circulation 30,575 - 57 +338 Treasury cash holdings 772 - 1 - 31 Treasury deposits with F. R. Banks 519 - 37 -119 Foreign deposits with F. R. Banks 284 - 4 -138 Other deposits with F. R. Banks 273 + 6 -139 Other F. R. accounts (net) 1,021 + 27 +121 33,444 - 66 + 31 Member bank reserves- 18,591 -153 -319 Required reserves (estimated) 18,106 - 94 -214 Excess reserves (estimated) 485 - 59 -105 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 773 Treasury currency outstanding 5,034 Member bank) - Required (est.) 18,084 Money in circulation 30,571 reserves ) - Excess (est.) 238 On August 1, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,679 million, a decrease of $389 $17 million for the week and an increase of million from the comparable date Digitized for FRASER a year ago. 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 Aug. 1, July 25, Aug. 3, 1956 1956 1955 A S S E TS Gold certificate account 20,296,391 + 12,999 + 135,287 Redemption fund for F. R. notes 854,781 - 1,207 + 21,644 Total gold certificate reserves 21,151,172 + 11,792 + 156,931 F. E. notes of other Banks 335,440 - 10,083 + 113,724 Other cash 397,150 + 4,995 2,078 Discounts and advances 422,085 - 39,303 - 524,840 Industrial loans 961 + 52 + 490 Acceptances—bought outright 17,113 - 3 + 5,817 U, S. Government securities: Bought outright— Bills 529,370 + 51,000 - 773311,,777766 Certificates 10,932,699 — +8,412,623 Notes 9,153,913 -- -8,245,623 Bonds 2,801,750 —— —— Total bought outright 23,417,732 + 51,000 - 564,776 Held under repurchase agreement — -- Total U. S. Government securities 23,417,732 + 51,000 - 564,776 Total loans and securities 23,857,891 + 11,746 -1,083,309 Due from foreign banks 22 " Uncollected cash items 4,591,256 - 25,809 + 740,240 Bank premises 69,685 + 179 + 11,974 Other assets 202,003 + 11,252 + 2,391 TOTAL ASSETS 50,604,619 + 4,072 - 55,971 L I A B I L I T I ES Federal Reserve notes ~* 26,363,978 + 37,504 + 394,570 Deposits: Member bank reserves 18,322,293 + 66,,993355 - 556655,,335500 U. S. Treasurer--general account 504,852 - 85,776 • 178,974 Foreign 294,750 + 32,950 - 133,823 Other 266,863 + 5,983 - 133,257 Total deposits 19,388,758 - 39,908 -1,011,404 Deferred availability cash items 3,630,493 + 94,187 + 482,806 Other liabilities and accrued dividends 13,903 + 18 - 161 TOTAL LIABILITIES 49,397,132 + 91,801 - 134,189 C A P I T AL A CC 0 U N T S Capital paid in 317,468 4" 297 + 21,074 Surplus (Section 7) 693,612 -- 32,711 Surplus (Section 13b) 27,543 - - -- Other capital accounts 168,864 - 88,026 + 24,433 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,604,619 + 4,072 - 55,971 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.2# + .9# Contingent liability on- acceptances purchased for foreign correspondents 47,922 + 1,754 + 22,817 Industrial loan commitments 2.420 - - 839 MATURITY DISTRIBUTION OF LOANS AM) SECURITIES. AUGUST 1, 1956 (Acceptances and securities held tinder 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 417,454 1 5,791+ 115,420 16 days to 90 days 4,388 172 11,319 413,950 91 days to 1 year 243 457 19,372,764 Over 1 year to 5 years 331 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years m 1,414,857 Digitized fo T r F o R t A a S l E R 422,085 17,113 23,417,732 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1956 (in thousands of dollars) 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 20,296,391 949,848 5,329,530 1094,690 1828,672 1259,271 910,435 3614,631 842,143 359,336 848,734 794,818 2464,283 Redemption fund for F. R. notes 854.781 ,59,999 176.783 61.404 74.152 71.400 50.840 154.525 42.856 23.240 42.426 25.840 72.316 Total gold certificate reserves 21,151,172 1006,847 5,506,313 1156,094 1902,824 1330,671 961,275 3769,156 884,999 382,576 891,160 820,658 2536,599 F.R. notes of other Banks 335,440 27,373 47,350 38,758 26,080 29,725 50,346 25,115 11,522 21,704 8,665 17,574 31,228 Other cash 397,150 29,129 86,340 23,066 37,489 20,628 33,524 59,710 24,191 9,830 11,918 14,277 47,048 Discounts and advances 422,085 18,158 39,705 47,965 35,905 26,149 24,775 94,275 27,575 20,785 56,850 18,493 11,450 Industrial loans 961 300 610 51 Acceptances- Bought outright 17,113 17,113 U. S. Govt, securities: Bought outright— Bills 529,370 29,097 133,230 31,810 45,787 32,593 27,221 92,360 22,101 11,957 22,937 21,039 59,238 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 55P,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 63.283 121.400 111.353 313,518 Total 23,417,732 1287,179 5,893,728 1407,195 2025,470 1441,806 1204,117 4085,739 977,690 528,936 1014,690 930,714 2620,468 Held under repurchase agreement Total U. S» Govt, sees. 23,417,732 1287,179 5,893,728 1407,195 2025,470 1441,806 1204.117 4085,739 977,690 528.936 1014.690 930,714 2620.468 Total loans & securities 23,857,891 1305,637 5,950,546 1455,770 2061,375 1467,955 1228,892 4l8o,oi4 1005,265 549,772 1071,540 949,207 2631,918 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash- items 4,591,256 373,715 857,352 274,806 408,979 340,919 313,853 782,859 181,151 119,405 260,577 207,444 470,196 Bank premises 69,685 5,417 8,602 4,893 7,254 6,792 3,998 5,948 3,886 4,459 4,123 3,344 10,969 Other assets 202.003 10.736 49.069 11.819 17.526 12.169 11.218 37.250 8,152 4.491 8.560 8.646 22.367 TOTAL ASSETS 50,604,619 2760,855 12,505,578 2965,208 4461,529 3208,860 2603,107 8860,055 2119,167 1092,238 2256,544 2021,151 5750,327 Dlig/it izAefd tfoer rFR AdSeEdRu cting $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 AUGUST 1, 1956 H.4.1(c) (in thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York I | delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES 1590,597 6,042,903 1742,994 2006,708 1307,678 1177,223 510,421 1049,006 704,711 2660,027 Federal Reserve notes 26,363,978 2462,985 5108,725 Deposits: Member bank reserves 18,322,293 776,796 5,173,463 851,969 1485,728 804,215 899,800 2900,497 680,811 395,581 897,345 1012,090 2443,998 U.S.Treas.-gen. acct. 504,852 29,702 62,435 24,l8o 23,114 31,063 45,889 59,868 46,424 44,365 50,524 45,841 41,447 Foreign 294,750 16,697 1/ 92,663 20,376 25,753 14,433 12,452 39,620 10,754 7,075 10,754 14,433 29,740 Other 266,863 2,573 194,133 10,602 3,020 3,402 1,496 2,314 6,922 1,154 1,886 1,318 38,043 Total deposits 19,385/75% "825,76b 5,522,694 907,127 1537,615 853,113 959,637 3002,299 744,911 455;175" 960,509 1073,"682 2553,228" Deferred availability 271,776 228,226 279,581 101,980 182,086 cash items 3,630,493 602,846 350,240 284,443 574,644 149,076 198,444 407,151 Other liabilities and 921 3,516 695 1,748 580 605 2,896 463 J4? .536 422_ 1,172 accrued dividends 13,903 258^bFi2n?7ilWW97^TB^,5B83IW;8ilT^,50i~B6BS756£ 2071,673 1060,925^20^,^95 19607901 3621,578 TOTAL LIABILITIES 49,397,132 CAPITAL ACCOUNTS Capital paid in 317,468 16,307 91,837 20,415 30,321 14,566 14,740 42,408 10,898 7,050 12,737 17,445 38,744 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 71,275 762 1,429 2,140 Surplus (Section 13b) 27,543 3,011 7,319 4,489 1,006 3,349 521 1,073 1,137 1,307 Other capital accounts 168,864 10,808 38,636 11,771 15,051 11,089 9,263 25,760 8,426 5,604 8,215 7,651 16,590 TOTAL LIABILITIES AND 50,604,619 2760,855 12,505,578 2965,208 4461,529 3208,860 2603,107 8860,055 2119,167 1092,238 2256,544 2021,151 5750,327 CAPITAL ACCOUNTS Conting. liab. on acceptances purchased for foreign correspondents 47,922 2,826 2/ 13,721 3,449 4,359 2,443 2,108 6,706 1,820 1,197 1,820 2,443 5,030 21 107 2,128 Industrial loan commit. 2,420 164 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,280,150 1649,094 6,228,138 1821,147 2554,815 2066,042 1365,435 5196,386 1229,835 557,241 1075,4l4 740,389 2796,214 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 47,965 - -- — — 27,575 — 56,850 Eligible paper 132,390 U. S. Govt, securities 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 Total collateral 28,615,390 17BO,WO^7W67cooT897",96^^590,000 2145,000 1500,000 5300,000 1377,575 610,000 1136,850 808,000 3000,000 1/ After deducting $202,062,000 participations of other Federal Reserve Banks. 2/ After deducting $34,201,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis