H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM September 6, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending September 5 decreased $83 million to $18,800 million. Estimated required reserves decreased $32 million; and estimated excess reserves decreased $51 million to $448 million. Member bank borrowings at the Federal Reserve Banks exceeded excess $436 reserves by $348 million, compared with million the week before. The principal changes reducing average reserves were increases of $169 million in money in circulation and $6l million in foreign deposits with Federal Reserve Banks, and decreases of $139 million in member bank borrowings and $42 million in Federal Reserve float. The principal offsetting changes were an increase of $227 million in Federal Reserve holdings of U. S. Government securities, and decreases of $54 million in Treasury deposits with Federal Reserve Banks* and $31 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $50 million. As of Wednesday, September 5, holdings of U. S. Government securities bought outright were $133 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $35 million higher, and member bank borrowings were $219 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 5, 1956 .Aug. 29, 1956 |Sept. 771955 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,818 +226 + 57 Held under repurchase agreement 31 + 1 - 34 Acceptances— Bought outright 19 + 1 + 4 Held under repurchase agreement 2 + 2 - 6 Loans, discounts, and advances— . Member bank borrowings 796 -139 - 42 Other 1 - 26 Float 787 - 42 +100 Total Reserve Bank credit 25,454 + 50 + 53 Gold stock 21,861 + 4 +179 Treasury currency outstanding 5,042 + 1 + 37 52,357 + 54 Money in circulation 30,78rU +169 +351 Treasury cash holdings 776-1 - 6 - 36 Treasury deposits with F. R. Banks 427 - 54 - 20 Foreign deposits with F. R. Banks 379 + 61 mmm Other deposits with F. R. Banks % 251 - 31 -142 Other F. R. accounts (net) 943 - l 33,557 +137 +154 Member bank reserves— 18,800 - 83 +115 Required reserves (estimated) 18,352 - 32 +24l Excess reserves (estimated) 448 - 51 -126 LP-preliminary 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: 21,883 Gold stock $ Treasury cash holdings P 775 Treasury currency outstandingf 5,04l Member bank) - Required (est.) 18,354 30,896 Money in circulation Zf reserves ) - Excess (est.) 287 On September 5, 1956, U. S. Government securities held in custody by the $3,694 Federal Reserve Banks for foreign account were million, an increase of Digiti$ze4d1 f orm FiRlAlSEiRo n for the week and an increase of $316 million from the comparable date http:/a/fr ayseer.astrlo uiasfgedo..or g/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 5, Aug. 29, Sept. 7, 1956 1956 1955 A S S E TS Gold certificate account 20,356,392 35,000 + 211,037 Redemption fund for F. R. notes 845,637 1,808 1,912 Total gold certificate reserves 21,202,029 33,192 + 209,125 F. R. notes of other Banks 290,689 53,434 + 85,810 Other cash 355,671 34,223 + 25,133 Discounts and advances 688,277 + 218,595 + 90,767 Industrial loans 954 + 53 + 392 Acceptances: Bought outright 19,151 + 536 + 2,743 Held under repurchase agreement 662 U. S. Government securities: Bought outright— Bills 940,170 132,650 - 98,876 Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 23,828,532 + 132,650 + 68,124 Held under repurchase agreement 34,600 + 34,600 + 34,600 Total U. S. Government securities 23,863,132 + 167,250 + 102,724 Total loans and securities 24,571,514 + 385,772 + 196,626 Due from foreign banks 22 Uncollected cash items 4,101,171 45,668 + 501,207 Bank premises 70,492 66 + 11,824 Other assets 262,.1 6162, 779 + 85,946 TOTAL ASSETS 50,853,754 + 298,352 +1,115,671 L I A B I L I T I ES Federal Reserve notes "" ~ 26,595,899 + 180,700 + 409,284 Deposits: Member bank reserves 18,641,344 321,451 + 434,776 U. S. Treasurer—general account 408,597 81,250 66,640 + 66,665 Foreign 443,833 81,445 Other 239,728 23,880 - 134,591 Total deposits 19,733,502 297,766 + 300,210 Deferred availability cash items 3,249,269 191,545 + 308,264 Other liabilities and accrued dividends . 19,856 +_ m1M,90 5 + 4,748 TOTAL LIABILITIES 49,598,526 +~ +1,022,506 C A P I T AL A C C O U N TS Capital paid in 318,207 228 + 21,211 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 215,866 9,298 + 39,243 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 50,853,754 298,352 +1,115,671 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8# .4$ •2$ Contingent liability on acceptances purchased for foreign correspondents 51,662 581 24,440 Industrial loan commitments 2,450 967 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 5, 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 681,335 3 5,083 " 141,630 16 days to 9° days 6,851 62 14,068 6,753,839 91 days to 1 year 91 570 13,452,065 Over 1 year to 5 years 319 1,087,127 Over 5 years to 10 years 1,013,614 DigitizOedv eforr F R1A0S EyRe ars 1.414,857 http://fraser.stlouisfed.org/ Federal Rese T r o ve t B a a l n k of St. Louis 688,277 #5 19,151 23,863,132

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 5, 1956 (la thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia i land Louis apolis City Francisco A S S E TS Gold certificate account 20,356,392 954,988 5,501,652 1067,134 1745,111 1296,695 883,822 3674,186 779,798 366,316 796,267 696,437 2593,986 Redemption fund for F. R. notes 845.617 58,508 174,886 60,566 73,339 68,876 50,395 153,632 42,584 23,163 42,207 25,680 71,801 Total gold certificate reserves 21,202,029 1013,496 5,676,538 1127,700 1818,450 1365,571 934,217 3827,818 822,382 389,479 838,474 722,117 2665,787 F.R. notes of other Banks 290,689 34,751 42,999 38,196 13,135 19,468 43,987 19,002 10,286 18,388 6,962 14,663 28,852 Other cash 355,671 28,440 74,411 26,895 36,780 19,218 27,782 48,420 20,013 8,926 11,378 13,162 40,246 Discounts and advances 688,277 38,530 121,220 37,985 110,365 34,860 28,025 166,000 36,000 18,875 64,862 17,855 13,700 Industrial loans 954 300 605 49 Acceptances— Bought outright 19,151 19,151 U. S. Govt, securities: Bought outright— Bills 940,170 51,677 236,619 56,496 81,318 57,886 48,343 164,033 39,252 21,236 40,737 37,366 105,207 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 23,828,532 1309,759 5,997,117 1431,881 2061,001 1467,099 1225,239 4157,412 994,841 538,215 1032,490 947,041 2666,437 Held under repurchase agreement 34.600 34.600 Total 0. S. Govt, sees. 23,863,132 1309.759 6.031.717 1431.881 2061.001 1467.099 1225.239 4157.412 994.841 538.215 1032.490 947.041 2666.437 Total loans & securities 24,571,514 1348,589 6,172,088 1470,471 2171,366 1501,959 1253,264 4323,412 1030,841 557,139 1097,352 964,896 2680,137 Due from foreign "banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,101,171 316,799 781,836 283,414 365,413 341,318 301,329 631,671 173,503 116,629 197,482 193,514 398,263 Bank premises 70,492 5,385 8,726 4,871 7,404 6,984 3,986 5,928 4,043 4,593 4,164 3,425 10,983 Other assets 262,166 14.216 63.717 15, 22.914 , 15,949 14,326 47,733 10.683 5,842 11,106 11.050 29.163 TOTAL ASSETS 50,853,754 2761,677 12,820,321 2967,016 4435,464 3270,468 2578,892 8903,987 2071,752 1100,997 2166,919 1922,828 5853,433 Dilgi/tiz edA ffotr FeRrA SdEeRd ucting $16,000 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 ON SEPTEMBER 5, 1956 (In thousands of dollars) Total Boston New York Richmond | Atlant aChicago ^ DallaS Franco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,595,899 1591,323 6,124,725 1730,150 2476,215 2058,546 1313,436 5149,372 1177,756 502,699 1054,767 710,164 2706,746 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,641,344 756,953 5,365,335 863,980 1480,711 829,699 890,348 3006,797 651,863 427,692 857,845 932,496 2577,625 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 408,597 27,772 72,129 21,668 33,994 27,699 36,095 45,070 23,280 27,778 28,261 36,566 28,285 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 443,833 25,547 1/134,646 31,176 39,403 22,083 19,052 60,620 16,454 10,825 16,454 22,083 45,490 OOOOOttttthhhhheeeeerrrrr 239,728 1,788 " 165,673 12,344 3,420 4,293 1.566 990 8,582 1,286 1,206 1,155 37,425 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,733,502 812,060 5,737,783 929,168 1557,528 883,774 947,061 3113,477 700,179 467,581 903,766 992,300 2688,825 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy 3,249,269 281,388 606,892 217,631 286,430 260,432 259,377 457,769 143,854 97,912 157,560 157,641 322,383 cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 19,856 2,631 4,897 916 2,219 956 917 3,200 672 536 643 671 1,598 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 49,598,52b 2687,402 12,474,297 2877,865 4322,392 3203,708 2520,791 8723,818 2022,461 1068,728 2116,736 1860,776 5719,552 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS """""CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 318,207 16,355 91,900 20,459 30,358 14,597 14,941 42,484 10,913 7,071 12,819 17,544 38,766 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 215.866 11.242 50.978 14.712 1Q t I4S 11,802 ll r 557 14,362 10,208 6,539 10,267 9,354 21,700 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 50,853,754 2761,677 12,820,321 2967,016 4435,464 3270,468 2578,892 8903,987 2071,752 1100,997 2166,919 1922,828 5853,433 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 51,662 3,050 2/ 14,749 3,722 4,705 2,637 2,275 7,238 1,964 1,292 1,964 2,637 5,429 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,450 —— —— 25 193 ** *" 104 ** — •• 2,128 •* *™ • FEDERAL RESERVE AGENTS 1ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,425,107 1647,854 6,306,117 1811,377 2548,120 2103,566 1366,239 5220,170 1221,159 552,5*5 1070,603 mo,940 12012,409 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 138,847 —— — 37,985 — *• —— •- 36,000 64,862 • 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 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 16,985,000 1780,000 6,470,000 1887,985 2590,000 2145,000 1500,000 5300,000 1386,000 610,000 1144,862 808,000 3000,000 TToottaall ccoollllaatteerraall 28,621,847 1/ After deducting $309,162,000 participations of other Federa lReserve Banks. 5/ After deducting $36,913,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis