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 9, 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 daily figures of member bank reserves for the week ending August 8 decreased $3 million to $18,588 million. Estimated required reserves decreased $88 million; and estimated excess reserves increased $85 million to $570 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $347 million, compared with $205 million the week before. The principal changes reducing average reserves were a decrease of $217 million in Federal Reserve float, and increases of $58 million in money in circulation and $35 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $227 million in member bank borrowings and $26 million in gold stock, and a decrease of $72 million in "other" F.R. accounts (net). Total Reserve Bank credit increased $10 million. As of Wednesday, August 8, holdings of U. S. Government securities bought outright and those held under repurchase agreement were unchanged from a week earlier and member bank borrowings were $295 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Aug. > 8,-1956 Aug. 1, 1956IAug. 10, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,418 — — -565 Held under repurchase agreement — -- - 72 Acceptances— + 6 Bought outright 18 • - Held under repurchase agreement ~~ - 1 Loans, discounts, and advances-- Member bank borrowings 917 +227 + 69 Other 1 mm mm - 40 Float 829 -217 +202 Total Reserve Bank credit 25,182 + 10 -402 Gold stock 21,855 + 26 +173 Treasury currency outstanding 5,035 + 1 + 32 52,071 + 36 -196 Money in circulation 30,633 + 58 +348 Treasury cash holdings 769 - 3 - 31 Treasury deposits with F. R. Banks 530 + 11 -116 Foreign deposits with F. R. Banks 319 + 35 -115 Other deposits with F. R. Banks 284 + 11 -112 Other F. R. accounts (net) 949 - 72 + 64 33,484 + 4o + 39 Member bank reserves— 18,588 - 3 -236 Required reserves (estimated) 18,018 - 88 -1^5 Excess reserves (estimated) 570 + 85 - 91 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 21,855 Treasury cash holdings 773 Treasury currency outstanding 5,035 Member bank) - Required (est.) 18,001 Money in circulation 30,647 reserves ) - Excess (est.) 242 On August 8, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,703 million, an increase of Digitized$ f2o4r F RmAiSlElRi on for the week and an increase of $396 million from the comparable http://fraser.stlouisfed.org/ date a year ago. 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. 8, Aug, 1, Aug. 10, 1956 1956 1955: A S S E TS Gold certificate account 20,321,393 + 25,002 + 175,042 Redemption fund for F. R. notes 852,601 - 2,180 + 9,032 Total gold certificate reserves 21,173,99% + 22,822 + 184,074 F. R. notes of other Banks 309,972 • 25,468 + 101,386 Other cash 386,211 - 10,939 + 28,694 Discounts and advances 717,336 + 295,251 + 152,057 Industrial loans 939 - 22 + 469 Acceptances—bought outright 17,113 + 4,854 U. S. Government securities: Bought outright-- Bills 529,370 - 731,776 Certificates 10,932,699 +8,4l2,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 23,417,732 - - 564*776 Held under repurchase agreement Total U. S. Government securities 23,417,732 H - 564,776 Total loans and securities 24,153,120 + 295,229 - 407,396 Due from foreign "banks 22 Uncollected cash items 4,089,957 - 501,299 + 339,195 Bank premises 69,721 + 36 + 11,888 Other assets 214,138 + 12,135 +_ TOTAL ASSETS 50,397,135 - 207,484 + 262,315 L I A B I L I T I ES Federal Reserve notes 26,400,675 + 36,697 + 437,820 Deposits: Member bank reserves 18,242,973 79,320 253,429 U. S. Treasurer--general account 560,818 + 55,966 + 61,568 Foreign 277,149 - 17,601 - 181,796 Other 273,418 + 6,555 - 116,757 Total deposits 19,354,358 - 34,400 - 490,414 Deferred availability cash items 3,410,671 - 219,822 + 234,542 Other liabilities and accrued dividends 14,306 + 403 + 92 TOTAL LIABILITIES 49,180,010 - 217,122 + 182,040 C A P I T AL A C C O U N TS Capital paid in 317,534 + 66 + 20,932 Surplus (Section 7) 693,612 w •» + 32,711 Surplus (Section 13b) 27,543 — Other capital accounts 178,436 + 9,572 + 26,633 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,397,135 - 207,484 + 262,316 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 46.3$ + .1# + Contingent liability on acceptances purchased for foreign correspondents 49,614 + 1,692 + 24,427 Industrial loan commitments 2,483 + 63 - 777 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 8, 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 710,020 1 6,798 142,470 16 days to 90 days 7,114 167 10,315 386,900 91 days to 1 year 202 440 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 1,414,857 Digitized for FR T A o S t E a R l 7177335 939 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 8, 1956 Total Boston New York Phila- Cleve- Richmond AAttllaannttaa CChhiiccaaggoo St. Minne- Kansas DDaallllaass San delphia land Louis apolis City Francisco A S S E TS Gold certificate account 20,321,393 997733,,771111 5,323,703 1055,157 1780,592 1275,485 908,267 3668,836 833,774 370,904 849,603 748,177 2533,184 Redemption fund for F. R. notes 885522,,660011 58,885 117766,,334422 6611,,118899 73,956 70,837 50,721 154,312 42,790 23,217 42.374 25,796 72,182 Total gold certificate reserves 21,173,994 1032,596 5,500,045 1116,346 1854,548 1346,322 958,988 3823,148 876,564 394,121 891,977 773,973 2605,366 F.R. notes of other Banks 309,972 28,179 47,711 40,365 20,916 26,657 42,677 22,323 8,886 19,729 8,666 15,837 28,026 Other cash 386,211 28,969 86,517 23,951 40,015 17,753 31,641 57,000 22,402 8,887 11,602 14,196 43,278 Discounts and advances 717,336 34,859 94,305 82,495 107,410 38,979 54,695 139,450 50,550 25,035 67,890 12,543 9,125 Industrial loans 939 300 — 588 — — — — 51 — — -- Acceptances— Bought outright 17,113 17,113 -- -- T — " — — -- -** U. S. Govt, securities: Bought outright— Bills 529,370 29,097 133,230 31,810 4455,,778877 32,593 27,221 9922,,336600 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 2,303,839 550,068 791,749 563,597 470,685 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 63.283 121.400 111,353 313,518 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 l44l,806 1204,117 4085,739 977,690 528,936 1014,690 930,714 2620,468 Total loans & securities 24,153,120 1322,338 6,005,146 1490,278 2132,880 1480,785 1258,812 4225,189 1028,240 554,022 1082,580 943,257 2629,593 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,089,957 329,949 708,402 271,033 357,201 320,368 328,713 646,041 169,870 118,106 191,328 199,708 449,238 Bank premises 69,721 5,417 8,612 4,893 7,264 6,792 3,998 5,948 3,900 4,459 4,125 3,344 10,969 Other assets 214.138 11,508 51.961 12.452 18.584 13.009 11.803 39,615 8,622 4.777 9.054 9.157 23.596 TOTAL ASSETS 50,397,135 2758,957 12,408,400 2959,320 4431,410 3211,687 2636,633 8819,267 2118,485 1104,102 2199,333 1959,473 5790,068 Dlig/iti zeAdf fotr eFrR AdSEeRd ucting $16,OOO 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 OH AUGUST 8, 1956 (In thousands of dollars) Phila- Cleve- St. Minne- Kansas j San Total Boston i Hew York Richmond Atlanta Chicago Dallas delphia land Louis apolis City (Francisco L I A B I L I T I ES Federal Reserve notes 26,400,675 1589,695 6,047,029 1741,514 2465,281 2008,966 1308,804 5117,628 1179,782 509,057 1051,106 708,265 2673,543 Deposits: Member hank reserves 18,242,973 742,492 5,159,753 846,072 1476,389 801,260 918,896 2899,528 665,057 421,959 878,449 951,819 2481,299 U.S.Treas.-gen. acct. 560,818 47,386 60,877 30,655 46,015 49,549 49,207 64,883 38,643 32,630 47,683 47,922 45,368 Foreign 277,149 15,871 1/ 85,058 19,368 24,479 13,719 11,836 37,660 10,222 6,725 10,222 13,719 28,27c Other 273,418 2,878 199,292 10,213 1,089 2,892 1,432 4,093 6,630 673 3,935 1,341 38,950 Total deposits 19,354,358 "808,627 5,504,980 906,308 1547,972 867,420 981,371 3006,164 720,552 461,987 940,289 1014,801 2593,887" Deferred availability cash items 3,410,671 287,270 516,567 224,116 306,610 270,013 289,712 519,692 169,806 101,071 158,868 175,267 391,679 Other liabilities and 14,306 1,094 3,784 608 1,786 615 703 2,569 484 466 531 537 1,129 accrued dividends TOTAL LIABILITIES 49,180,010 2686,686 12,072,360 2872,546 4321,649 3147,014 2580,590 8646,053 2070,624 1072,581 2150,794 1898,870 5660,243 CAPITAL ACCOUNTS Capital paid in 317,534 16,311 91,837 20,432 30,330 14,575 14,740 42,425 10,901 7,052 12,741 17,445 38,745 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, l40 Other capital accounts 178,436 11,282 41,057 12,362 15,862 11,737 9,700 27,466 8,790 5,810 8,701 8,004 17,665 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,397,135 2758,957 12,4o8,4oo 2959,320 4431,410 3211,687 2636,633 8819,267 2118,485 1104,102 2199,333 1959,473 5790,068 Conting. liab. on acceptances purchased for foreign correspondents 49,6l4 2,926 2/ 14,199 3,571 4,514 2,530 2,182 6,944 1,885 1,240 1,885 2,530 5,208 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,288,289 1651,553 6,231,218 1817,760 2555,679 2060,539 1366,029 5204,585 1225,908 556,312 1079,567 742,320 2796,819 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,498,000 580,000 2,870,000 650,000 1090,000 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 200,935 — - 82,495 — - - — —— 50,550 — 67,890 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 28,683,935 1780,000 6,470,000 1932,495 2590,000 2145,000 1500,000 5300,000 i5bc,550 610,000 1147,890 808,000 3000,000 l/ After deducting $192,066,000 participations of other Federal Reserve Banks. 2/ After deducting $35,415,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis