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 16, 1956 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending August 15 increased $5 million to $18,593 million. Estimated required reserves increased $12 million; and estimated excess reserves decreased $7 millio nto $563 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $397 million, compared with $34 7million the week before. The principal changes supplying average reserves were increases of $43 million in member ban kborrowings and $21 million in U. S. Government securities held unqLer repurchase agreement. The principal offsetting changes were increases of $48 million in money in circulation and $16 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $72 million. As of Wednesday, August 15, U. S. Government securities held under repurchase agreement were $147 million higher than a week earlie rand member bank borrowings were $115 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Aug. 15, 1956 Aug. 8, 1956|Aug. 17, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,418 -473 Held under repurchase agreement 21 + 21 + 21 Acceptances-- Bought outright 17 - 1 + 4 Held under repurchase agreement -- - 1 — «• Loans, discounts, and advances-- Member bank borrowings 960 + 43 +209 Other 1 - 45 Float 837 + 8 + 43 Total Reserve Bank credit 25,254 + 72 -241 Gold stock 21,856 + 1 +174 Treasury currency outstanding 5,036 + 1 + 33 52,146 + 75 - 34 Money in circulation 30,681 + 48 +345 Treasury cash holdings 773 + 4 - 24 Treasury deposits with F. R. Banks 539 + 9 + 32 Foreign deposits with F. R. Banks 335 + 16 -139 Other deposits with F. R. Banks 277 - 7 -123 Other F. R. account s(net) 947 - 2 + 37 33,553 + 69 +129 Member bank reserves-- 18,593 + 5 -164 Required reserves (estimated) 18,030 + 12 -125 Excess reserves (estimated) 563 7 - 39 - For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BAMS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,856 Treasury cash holdings 783 Treasury currency outstanding 5*036 Member bank) - Required (est.) 18,071 Money in circulation 30,654 reserves ) - Excess (est.) 691 On August 15, 1956, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,715 million, an increase of $12 million for the week and an increase of $389 million from the comparable date Digitized for FRASER a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Aug. 15, Hug. 8, Aug. 17, 1956 1956 1955 A S S E TS Gold certificate account 20,321,393 185,042 + Redemption fund for F. R. notes 850,428 2,173 22 - + Total gold certificate reserves 21,171,821 2,173 185,064 ~ + F. R. notes of other Banks 318,636 8,664 103,170 + + Other cash 383,585 2,626 26,575 - + Discounts and advances 832,200 + 114,864 + 199,915 Industrial loans 927 - 12 + 395 Acceptances: Bought outright 17,115 2 2,672 + + Held under repurchase agreement 2,509 U. S, Government securities: Bought outright— Bills 529,370 604,076 Certificates 10,932,699 -- +8, 412,623 Notes 9,153,913 -8,245,623 - - Bonds 2,801,750 - - . - - Total bought outright 23,417,732 —— - 437,076 Held under repurchase agreement 147,400 147,400 147,400 + + ... Total U. S. Government securities 23,565,132 147,400 289,67b + - Total loans and securities 24,415,374 + 262,254 - 89,203 Due from foreign banks 22 — — m — Uncollected cash items 5,258,543 +1,168,586 + 535,058 Bank premises 70,243 522 12,258 + + Other assets 227,458 + 13,320 + 73,782 TOTAL ASSETS 51,845,682 +1,448,547 846,704 + L I A B I L I T I ES Federal Reserve notes ~~ 26,418,328 17,653 427,659 + + Deposits: Member bank reserves 18,761,902 518,929 148,081 + + U. S. Treasurer--general account 552,185 8,633 9,769 - + Foreign 288,525 11,376 169,071 + - Other 276,523 3,105 118,995 + ~ Total deposits 19,879,135 + 524,777 - 130,216 Deferred availability cash items 4,304,931 894,260 464,199 + + Other liabilities and accrued dividends 16,824 2,518 + 2,157 + TOTAL LIABILITIES 50,619,218 +1,439,208 + 763,799 C A P I T AL A C C O U N TS Capital paid"in ~ 317,747 + 213 + 21,280 Surplus (Section 7) 693,612 32,711 + Surplus (Section 13b) 27,543 -- Other capital accounts 187,562 + 9,126 + 28,914 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,845,682 +1,448,547 + 846,704 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.7# r - .6# + .1% Contingent liability on acceptances purchased for foreign correspondents ctwl • ^ 50,40?/ + 793 + 25,193 Industrial loan commitments OCoJV o\? MATURITY DISTRIBUTION OF LOANS AND SECURITIES» AUGUST 15. 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 824,991 6,338 — 304,070 16 days to 90 days , 7,009 176 10,777 372,700 91 days to 1 year 200 430 19,372,764 Over 1 year to 5 years 321 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER 1.414,857 http://fraser.stTloouitsfaedl.o rg/ 83272OO 927 17,115 23,565,132 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OP CONDITION OF EACH FEDERA LRESERVE BANK ON AUGUST 1% 1956 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 20,321,393 964,227 5,279,212 1037,296 1794,84? 1266,397 885,220 3770,125 795,532 374,400 864,873 721,680 2567,594 Redemption fund for F. R. notes 850,428 58,778 175,862 60,999 73,767 70,156 50,620 154,131 42,732 23,204 42,328 25,763 72,088 Total gold certificate reserves 21,171,821 838,264 397,604 907,201 747,443 2639,682 F.R. notes of other Banks 318,636 29,776 52,323 43,260 18,496 24,308 44,109 21,506 8,964 19,749 10,322 16,451 29,372 Other cash 383,585 29,574 86,001 25,751 37,963 18,304 32,894 52,850 22,583 9,042 12,031 13,338 43,254 Discounts and advances 832,200 50,603 157,240 82,145 93,260 32,689 39,200 204,850 33,950 24,713 73,705 23,345 16,500 Industrial loans 927 300 577 50 — — Acceptances— Bought outright 17,115 17,U5 U. S. Govt, securities: Bought outright— Bills 529,370 29,097 133,230 31,810 45,787 32,593 27,221 92,360 ~,-2„2-,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 2,801,750 154,0--0 17 05.139 168.360 242.332 172.501 l44.06l 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 147.400 147.400 Total U. S. Govt, sees. 23,565,132 1287,179 6.041.128 1407.195 2025.470 1441.806 1204.117 4085.739 977.690 528.936 1014.690 930.714 2620.468 Total loans & securities 24,415,374 1338,082 6,215,483 1489,917 2118,730 1474,495 1243,317 4290,589 1011,640 553,699 1088,395 954,059 2636,968 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,258,543 380,513 9237315 342,855 495,877 418,241 405,063 878,601 215,211 141,984 252,293 267,564 537,026 Bank premises 70,243 5,417 8,612 4,893 7,252 6,914 3,998 5,951 4,064 4,591 4,169 3,413 10,969 Other assets 227,458 12,396 55,201 13.358 19,602 13.773 12,528 41.645 9.194 5.086 9,690 9,532 25,153. TOTAL ASSETS 51,845,682 2818,764 12,796,015 3018,321 4566,536 3292,589 2677,750 9215,401 2109,921 1131,756 2284,102 2012,101 5922,426 Dilgit/iz edA ffort FeRrAS EdRe ducting $16,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 4. 1(c) STATEMENT OF CONDITION OF EACH FEDERA LRESERVE BANK ON AUGUST 15, 1956 (In thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston NNeeww YYoorrkk RRiicchhmmoonndd AAttllaannttaa CChhiiccaaggoo Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 26,418,328 1588,775 6,052,962 1738,437 2466,489 2016,604 1310,589 5126,346 1178,457 506,771 1051,567 707,966 2673,365 Deposits: Member bank reserves 1188,,776611,,990022 795,538 5,283,250 846,001 1497,261 787,075 910,206 3082,295 677,559 430,347 932,586 974,490 2545,294 U.S.Treas.-gen. acct. 552,185 37,957 126,717 33,869 35,330 51,167 38,906 86,770 8,063 29,385 35,531 19,836 48,654 Foreign 288,525 16,343 1/ 90,722 19,944 25,207 14,127 12,188 38,780 10,526 6,925 10,526 14,127 29,110 Other 276,523 2,049 """ 204,568 11,335 1,149 2,694 1,718 1,483 7,287 992 4,429 l,4l4 37,405 u Total deposits 19,879,135 851,887 5,705,257 911,149 1558,947 855,063 963,018 3209,328 703,435 467,649 983,072 1009,867 2660,463 Deferred availability cash items 4,304,931 303,982 694,143 280,633 429,026 355,195 346,954 701,893 179,361 124,874 199,982 232,325 456,563 Other liabilities and accrued dividends 16,824 1,324 5,169 738 1,474 592 681 2,909 468 745 561 924 1,239 TOTAL LIABILITIES 50,619,218 2745,968 12,457,531 2930,957 4455,936 3227,454 2621,242 9040,476 2061,721 1100,039 2235,182 1951,082 5791,630 CAPITAL ACCOUNTS Capital paid in 317,747 16,355 91,853 20,434 30,348 14,586 14,763 42,425 10,901 7,054 12,777 17,513 38,738 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 187,562 11,763 43,485 12,950 16,683 12,188 10,142 29,177 9,129 6,004 9,046 8,352 18,64} • r TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,845,682 2818,764 12,796*015 3018,321 4566,536 3292,589 2677,750 9215,401 2109,921 1131,756 2284,102 2012,101 5922,426 Conting. li&b. on acceptances purchased for foreign correspondents 50,405 2,944 22// 1144,,777777 3,593 4,5^1 2,545 22,,119966 6,986 1,896 1,247 1,896 2,545 5,239 Industrial loan commit, j 2,497 — 54 209 *- 106 -- 2,128 -- . FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,301,054 1644,480 6,243,715 1816,367 2548,865 2069,55 91369,158 5205,321 1220,328 555,244 1082,064 744,326 2001,627 " Collat. for F. R. notes: Gold certificate acct. 11,498,000 580,000 2,870,000 0 § 1 § 845,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 Eligible paper 178,800 -- — 71,145 -- — — 33,950 — 73,705 -- — — 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 28,661,800 1780,000 6,470,000 1921,145 2590,000 2145,000 1500,000 5300,000 1383,950 610,000 1153,705 808,000 3000,000 1/ After deducting $197,778,000 participations of other Federa lReserve Banks. D2ig/it izAedf ftore FrR AdSeEdRu cting $35,628,000 participations of other Federa lReserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis