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 13, 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 dally figures of member bank reserves for the week ending September 12 increased $288 million to $19,088 million. Estimated required reserves $263 increased $25 million; and estimated excess reserves increased million to $712 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $300 million, compared with $347 million the week before. The principal changes supplying average reserves were increases of $258 million in Federal Reserve float, $216 million in member bank borrowings, and $22 million in gold stock. The principal offsetting changes were increases of $123 million in money in circulation and $91 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $480 million. As of Wednesday, September 12, U. S. Government securities held under repurchase agreement were $35 million lower than a week earlier and member bank borrowings were $84 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Sept. 12, 1956 I Sept. 5, 19561Sept. 14, 19^5 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,829 + 11 + 85 Held under repurchase agreement 29 - 2 - 40 Acceptances-- Bought outright 19 + 2 Held under repurchase agreement - - - 2 - 3 Loans, discounts, and advances- Member bank borrowings 1,012 +216 +121 Other 1 - — - 26 Float 1,045 +258 +219 Total Reserve Bank credit 25,934 +480 +357 Gold stock 21,883 + 22 +201 Treasury currency outstanding 5,042 - - + 36 52,859 +502 +59# Money in circulation 30,910 +123 +390 Treasury cash holdings 770 - 1 - 33 Treasury deposits with F. R. Banks 518 + 91 + 87 Foreign deposits with F. R. Banks 381 + 2 - 38 Other deposits with F. R. Banks 252 + 1 -148 Other F. R. accounts (net) 941 - 2 - 1 33,771 7215 T25Z Member bank reserves— +288 19,088 +338 Required reserves (estimated) + 25 18,376 +235 Excess reserves (estimated) +263 712 +104 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 21,883 Treasury cash holdings 781 Treasury currency outstanding 5,042 Member bank) - Required (est.) i8,4o6 Money in circulation 30,847 reserves ) - Excess (est.) 294 On September 12, 1956, U. S. Government securities held in custody by the $3,691 Federal Reserve Banks for foreign account were million, a decrease of $335 $3 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

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 12, Sept. 5, Sept. 14, 1956 1956 1955 A SS E T S Gold certificate account 20,345,393 10,999 > 200,040 Redemption fund for F. R. notes 856,636 + 10,999 11,585 Total gold certificate reserves 21,202,029 + 211,625 F. R. notes of other Banks ' ' ' 328,597 > 37,908 + 69,181 Other cash 358,970 + 3,299 + 7,939 Discounts and advances 603,944 68,258 84,333 Industrial loans 961 + 7 + 239 Acceptances—bought outright 18,46o 691 + 1,168 • U. S. Government securities: Bought outright-- Bills 940,170 10,676 Certificates 10,932,699 +8 ,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 -- Total bought outright 23,828,532 + 156,324 Held under repurchase agreement 34,600 - «• Total U. S. Government securities 23,828,532 34,600 + 156,324 Total loans and securities 24,451,897 - 119,617 225,989 Due from foreign banks 22 -- Uncollected cash items 4,941,571 + 840,400 - 256,178 Bank premises 70,653 + l6l 11,738 Other assets 273,734 + 11,568 + 89,356 TOTAL ASSETS 51,627,473 + 773,719 + 359,650 L I A B I L I T I ES Federal Reserve notes ~~ "" 26,592,045 3,854 + 421,814 - Deposits: Member bank reserves 18,699,950 + 58,606 + 247,778 U. S. Treasurer—general account 553,922 + 145,325 > 126,434 Foreign 376,473 - 67,360 -— 33,986 Other 242,607 + 2,879 • 139,070 Total deposits 19,872,952 + 139,450 + 201,156 Deferred availability cash items 3,878,362 + 629,093 - 363,176 Other liabilities and accrued dividends 18,692 - 1,164 + 2,589 TOTAL LIABILITIES 50,362,051 + 763,525 + 262,383 C A P I T AL A C C O U N TS Capital paid in 318,867 + 660 21,656 Surplus (Section 7) 693,612 - - + 32,711 Surplus (Section 13b) 27,543 — «• Other capital accounts 225,400 + 9,534 + 42,900 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,627,473 + 773,719 359,650 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.656 .2 <fo - .2# Contingent liability on acceptances purchased for foreign correspondents 51,604 • 58 + 24,383 Industrial loan commitments , , ,2,423 ?7 - ,, 374. MATURITY DISTRIBUTION OF LOANS AND SECURITIES, SEPTEMBER 12, 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 599,706 1 7,158 121,250 l6 days to 90 days 4,176 60 11,302 6,739,619 91 days to 1 year 62 582 13,452,065 Over 1 year to 5 years 316 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for T F o R t A a S l E R 603,944 m 18,460 23,828,532 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OP EACH FEDERAL RESERVE BANK OH SEPTEMBER 12, 1956 (In thousands of dollars) Total Boston New York d F e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta Chicago L S o t u . i s M a i p n o n l e i - s K C a i n t s y a s j | D allas IFra S n a c n i sco A S S E TS Gold certificate account 20,345,393 986,416 5,154,663 1108,923 1850,627 1310,603 912,897 3690,738 825,003 367,183 853,332 738,810 2546,178 Redemption fund for F. R. notes 856,636 58,508 184.886 60.566 74.339 68,876 50,395 153,632 42,584 23.163 42,206 25,680 71.801 Total gold certificate reserves 21,202,029 1044,924 5,339,569 1169,489 1924,966 1379,479 963,292 3844,370 867,587 390,346 895,538 764,490 2617,979 F.R. notes of other Banks 328,597 38,984 58,978 44,808 11,532 20,200 41,432 24,830 11,554 18,741 12,242 15,726 29,570 Other cash 358,970 28,797 79,334 25,090 34,352 20,863 29,411 48,304 20,154 8,674 11,479 13,836 38,676 Discounts and advances 603,944 24,340 226,405 14,620 74,640 28,870 25,975 105,075 20,675 12,871 49,472 19,651 1,350 Industrial loans 961 300 614 47 Acceptances— Bought outright 18,460 18,460 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 2,801,750 154.001 705.139 168.360 242.132 172.501 144.063 488.827 116.973 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 Total U. S. Govt, sees. 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 Total loans & securities 24,451,897 1334,399 6,241,982 1447,115 2135,641 1495,969 1251,214.4262.487 1015,516 551,133 1081,962 966,692 2667,787 Due from foreign banks 22 1 1/6 2 2 1 13 1 1 1 12 Uncollected cash items 4,941,571 390,936 8407800 280,680 457,609 410,540 374,006 833,445 220,558 143,500 237,126 243,220 509,151 Bank premises 70,653 5,385 8,736 4,871 7,404 7,055 3,986 5,928 4,058 4,593 4,172 3,479 10,986 Other assets 273,734 14,893 66,847 16,138 23,692 16,744 14,942 49,690 11,151 6,095 11,581 11,556 30,405 TOTAL ASSETS 51,627,473 2858,319 12,636,252 2988,193 4595,198 3350,851 2678,284 9069,057 2150,579 1123,083 2254,101 2019,000 5904,556 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 12, 1956 H.4.1(c) (In thousands of dollars) Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco L I A B I L I T I ES Federal Reserve notes 26,592,045 1590,031 6,105,441 1727,737 2488,366 2064,287 1307,022 5144,609 1176,597 501,368 1054,821 711,353 2720,413 Deposits: Member bank reserves 18,699,950 825,463 5,230,553 882,585 1519,190 818,725 940,953 2992,748 694,659 423,697 903,390 970,129 2497,858 U.S.Treas.-gen. acct. 553,922 33,438 93,973 44,834 50,146 45,287 39,223 64,296 28,759 35,739 37,791 42,019 38,417 Foreign 376,473 22,420 1/105,128 27,360 34,560 19,380 16,720 53,200 14,440 9,500 14,440 19,380 39,925 2,226 8,421 761 826 1,268 Other 242,607 2,146 " 164,918 9,992 1,573 5,557 2,270 42,649 Total deposits 197872,952 883,467 5,594,572 964,771 1605,489 888,949 999,122 3112,514 746,279 469,697 956,447 1032,796 2618,849 Deferred availability cash items 3,878,362 309,177 582,437 204,996 385,390 329,318 312,767 626,226 177,349 118,979 191,499 211,621 428,603 Other liabilities and 18,692 891 5,196 951 2,020 960 827 3,213 715 608 719 822 1,770 accrued dividends TOTAL LIABILITIES 50,362,051 2783,566 12,287,646 2898,455 4401,265 3283,514 2619,738 8886,562 2100,940 1090,652 2203,486 1956,592 5769,635 CAPITAL ACCOUNTS Capital paid in 318,867 16,355 91,963 20,460 30,363 14,597 14,941 43,048 10,921 7,071 12,832 17,544 38,772 Surplus (Section 7) 693,612 4l,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 225,400 13,720 53,497 15,298 20,001 14,379 12,002 36,124 10,548 6,701 10,686 9,710 22,734 TOTAL LIABILITIES AND 2858,319 12,636,252 2988,193 CAPITAL ACCOUNTS 51,627,473 4595,198 3350,851 2678,284 9069,057 2150,579 1123,083 2254,101 2019,000 5904,556 Cbnting. liab. on acceptances purchased for foreign correspondents 51,604 3,044 2/ 14,762 3,715 4,695 2,632 2,270 7,224 1,961 1,290 1,961 2,632 5,4l8 Industrial loan commit. 2,423 16 175 104 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,491,685 1646,178 6,333,008 1804,754 2557,401 2122,829 1366,516 5229,410 1217,628 552,143 1085,483 749,120 2827,215 Collat. for F. R. notes: Gold certificate acct. 11,548,000 580,000 2,870,000 650,000 1090,000 895,000 500,000 2300,000 450,000 150,000 280,000 283,000 1500,000 49,472 Eligible paper 84,767 —— 14,620 —— —— ~ ~ 20,675 U. S. Govt, securities 17,135,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 3100,000 900,000 46o,ooo 800,000 525,000 1500,000 610,000 1129,472 808,000 3000,000 Total collateral 28,767,767 1780^000 6^470^000 1864/620 2640,000 2195,000 1500,000 5400,000 1370,675 1/ After deducting $271,320,000 participations of other Federal Reserve Banks, 2/ After deducting $36,842,000 participations of other Federal Reserve Banks- Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis