H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNOR SFor Immediate Release H.U.I OF THE FEDERA LRESERVE SYSTEM August 30, 1%6 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 membe rbank reserves for the week ending August 29 decreased $23 4million to $18,883 million. Estimated required reserves decreased $76 million ;and estimated excess reserves decreased $158 million to $497 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $438 million, compared with $22 3million the week before. The principal changes reducing average reserves were a decrease of $342 million in Federa lReserve float, and increases of $25 millio nin foreign deposits with Federa lReserve Banks and $l6 million in "other" deposit swith Federal Reserve Banks. The principal offsetting changes were increases of $57 million in member bank borrowings and $48 million in Federa lReserve holdings of U. S. Government securities, and a decrease of $36 million in mone yin circulation. Total Reserve Bank credit decreased $238 million. As of Wednesday ,August 29, holdings of U. S. Government securities bought outright were $152 million higher than a week earlie rand member ban kborrowings were $337 millio nlower. Member bank reserves, Averages, of daily figures Reserve Bank credit, For week ending Change from week ending and related items Aug. 29. 1956 Aug. 22. 19561Aug. 31. 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,592 +146 -169 Held under repurchase agreement 30 -- 9988 ++ 3300 Acceptances— Bought outright 18 + 1 + 3 Held under repurchase agreement * + * + * Loans, discounts, an dadvancee-- Member bank borrowings 935 + 57 +195 Other 1 - 30 Float 829 -342 +158 Total Reserve Bank credit 25,404 -238 +187 Gold stock 21,857 + l +175 Treasury currency outstanding 5,041 + 4 + 36 52,303 -233 +399 Money in circulation 30,618 - 36 +350 Treasury cash holdings 776 - 2 - 27 Treasury deposits with F. R. Banks 481 - 4 + 2 Foreign deposits with F. R. Banks 318 + 25 - 81 Other deposits with F. R. Banks 282 + 16 -112 Other F. R. account s(net) 944 - 2 — — 33,420 + 1 +130 Member bank reserves-- 18,883 -234 +269 Required reserves (estimated) 18,386 - 76 +256 Excess reserves (estimated) 497 -158 + 13 * Less than $500,000 For Wednesday Federal Reserve figures see STATEMENT OF CONDITIO NOF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in million sof dollars: Gold stock 21,857 Treasury cash holding s781 Treasury currency outstanding 5,042 Member bank) - Required (est.) 18,375 Money in circulation 30,630 reserves ) - Exces s(est.) - 55 On August 29, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,653 million, a decrease of $23 million for the week and an increase of $280 million from the comparable date Digitizaed fyore FaRrA SaERg o. 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. 29, Aug. 22, Aug. 31, 1956 1956 1955 A S g E TS Gold certificate account 20,321,392 a* mm + 176,040 Redemption fund for F. R. notes 847,445 2,808 - 104 Total gold certificat ereserves 21,166,837 - 2,808 + "175,936 F. R. note sof other Banks 344,123 + 11,876 + 129,886 Other cash 389,894 - 5,141 + 27,703 Discounts and advances 469,682 336,504 323 - - Industrial loans 901 29 + 316 - Acceptances: Bought outright 18,615 + 1,501 + 4,197 Held under repurchase agreement 662 + 662 662 + U. S. Government securities: Bought outright— Bills 807,520 151,650 Certificates 10,932,699 Notes 9,153,913 -8,245,623 Bonds Total bought outright 23,695,882 + 151,650 - - 64,526 Held under repurchase agreement Total U. S. Government securities 23,695,882 + 151,650 - - 64,526 Total loans an dsecurities 24,185,742 - 182,720 59,674 Due from foreign banks 22 Uncollected cash items 4,146,839 - 498,949 + 308,020 Bank premises 70,558 + 248 + 12,542 Other assets 249,387 + 11,358 + 81,293 TOTAL ASSETS 50,555,402 - 666,136 675,70( L I A B I L I T I ES Federal Reserve notes 26,415,199 + 20,413 + 411,502 Deposits; Member bank reserves 18,319,893 - 439,031 - 47,782 U, S. Treasurer—general account 489,847 - 63,671 + 96,352 Foreign 362,388 + 58,545 - 24,801 Other 263,608 + 11,566 - 119,649 Total deposits 19,435,736 - 432,591 95,880 Deferred availability cash items 3,440,814 - 265,330 + 267 171 Other liabilities and accrued dividends 17,951 1,705 + 3,101 TOTAL LIABILITIES 49,309,700 - 675,803 + 585,894 C A P I T AL A C C O U N TS Capital paid in 317,979 166 + 21,107 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 206,568 + 9,501 i. 35^994 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,555,402 - 666,136 + 675,706 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 46.2# Contingent liability on acceptances purchased for foreign correspondents 51,081 1,331 + 23,895 Industrial loan commitments ....2.,,,.506. l 911 MATURITY DISTRIBUTION OF LOAN SAND SECURITIES. AUGUST 29. 1956 (Acceptances and securities held under repurchase agreement ar eclassified as maturing within 15 days in accordanc ewith maximum maturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 462,360 3 4,981 165,680 16 days to 90 days 7,137 385 14,296 641,840 91 days to 1 year 185 91 19,372,764 Over 1 year to 5 years 422 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.stlTouoistfaedl.o rg/ 469,682 901 19,277 23,6957382 Federal Reserve Bank of St. Louis

H.4.l(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 29, 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 20,321,392 924,826 5,461,055 1077,840 1803,487 1275,641 856,773 3649,669 788,887 348,279 813,647 755,422 2565,866 Redemption fund for F. R. notes 847,44$ 58,618 175,260 60,739 73,496 69,385 50,484 153,815 42,636 23,175 42,246 25,710 71,881 Total gold certificate reserves 21,168,837 983,444 5,636,315 1138,579 1876,983 1345,026 907,25 7 3803,484 831,523 371,454 855,893 781,132 2637,747 F.R. notes of other Banks 344,123 37,227 56,044 42,522 17,092 24,004 46,043 24,567 11,225 22,529 11,584 16,998 34,288 Other cash 389,894 30,896 85,444 26,936 38,369 20,562 31,653 52,479 22,469 9,999 12,050 13,361 45,676 -Discounts and advances 469,682 28,375 48,650 41,445 39,285 41,724 35,000 117,315 32,485 15,491 45,472 16,340 8,100 Industrial loans 901 300 — 552 — -- " 49 — Acceptances : -Bought outright 18,615 18,615 field under rep. agree. 662 662 S. Govt, securities: Bought outright— Bills 807,520 44,386 203,234 48,524 69,845 49,719 41,522 140,889 33,714 18,240 34,990 32,094 90,363 Certificates 10,932,699 600,927 2,7 51*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 , 795,139 168,360 242.132 .172.501 144.063 468.827 116.971 63.283 121.400 111,353 313,518 Total 23,695,882 1302,468 5,963,732 1423,909 2049,528 1458,932 1218,418 4134,268 989,303 535,219 1026,743 941,769 2651,593 Held under rep. agree. Total U. S. Govt, sees. 23.695.882 1102.468 5.961.712 1421.909 2049.528 1458.912 12l8.4l8 4114.268 989.101 539.219 1026.743 941.769 2651.591 Total loans & securities 24,185,742 1331,143 6,031,659 1465,906 2088,813 1500,656 1253,418 4251,583 1021,788 550,759 1072,215 958,109 2659,693 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,146,839 321,531 7657475 264,853 411,910 324,832 303,698 654,388 168,300 109,973 195,769 212,930 413,180 Bank premises 70,558 5,385 8,751 4,871 7,394 6,984 3,986 5,951 4,063 4,593 4,170 3,427 10,983 Other assets 249,387 13,388 60,821 14,618 21,571 15,246 13,654 45,382 10,101 5,596 10,6l6 10,644 27,750 TOTAL ASSETS 50,555,402 2723,015 12,644,515 2958,287 4462,134 3237,311 2559,710 8837,837 2069,470 1074,904 2162,298 1996,602 5829,319 l/ 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 AUGUST 29, 195& (in thousands of dollars) Total Boston New York Richmond Atlanta Chicago Daila8 Francisco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,415,199 1582,829 6,076,755 1726,505 2468,092 2034,986 1304,675 5125,011 1171,636 502,820 1050,293 708,246 2663,351 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,319,893 739,733 5,249,003 855,950 1454,791 799,277 885,111 2874,898 661,946 410,706 848,457 989,965 2550,056 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 489,847 32,381 80,201 38,042 39,701 38,561 37,624 63,677 25,196 18,731 36,304 33,169 46,260 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 362,388 20,886 1/109,607 25,488 32,214 18,054 15,576 49,560 13,452 8,850 13,452 18,054 37,195 OOOOOttttthhhhheeeeerrrrr 263,608 3,259 ~ 188,813 9,633 1,394 2,134 1,068 1,465 8,247 1,566 1,644 1,559 42,826 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,435,736 796,259 5,627,624 929,113 1520,100 858,026 939,379 29*39,600 708,841 439,853 899,857 1042,747 2676,337 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,440,814 269,149 591,916 213,290 351,809 276,864 257,437 541,704 139,354 99,607 161,609 183,04l 355,034 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 17,951 1,040 4,683 849 1,886 1,147 807 3,118 659 492 740 824 1,706 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,309,700 2649,277 12,300,978 2869,757 4349,807 3171,023 2502,290 0659,433 2020,490 1042,772 2112,499 1934,858 5696,420 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 317,979 16,355 91,895 20,440 30,358 14,595 14,790 42,454 10,910 7,062 12,787 17,529 38,8o4 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 693,612 41,667 195,827 49,491 62,563 35,012 30,841 101,894 27,649 17,586 25,960 33,84? 71,275 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 206,568 12,705 48,496 14,110 18,320 13,332 11,019 32,627 9,900 6,411 9,915 9,06l 20,672 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 50,555,402 2723,015 12,644,515 2958,287 4462,134 3237,311 2559,710 8837,837 2069,470 1074,904 2162,298 1996,602 5829,319 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 51,081 3,044 2/ 14,238 3,715 4,696 2,632 2,270 7,224 1,961 1,290 1,961 2,632 5,4l8 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,506 — —— 79 193 •* •- 106 — 2,128 -• —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,365,963 1647,438 6,296,423 1012,315 2552,420 2095,312 1365,322 5207,347 1219,560 552,791 1079,99% Y%i,j4U *795,595 CCoo1111aatt.. 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 112,402 —— —— 34,445 —— — —— —— 32,485 45,472 —— 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 28.595,402 1780,000 6.470.000 1804,445 2590.000 2145,000 1500,000 5300,000 1382,485 610,000 1125,472 808,000 3000,000 l/ After deducting $252,756,000 participations of other Federal Reserve Banks. 2/ After deducting $36,843,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis