H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release E-4.1 OF THE FEDERAL RESERVE SYSTEM September 20, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves for the week ending eptember 19 increased $132 million to $19,220 million. Estimated required reserves increased $114 million; and estimated excess reserves increased $18 million to $735 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $8l million; the week before they were $29 5million less than member bank borrowings. (tin .i ^be principal changes supplying average reserves were an increase of \ million in Federal Reserve float, and decreases of $100 million in money in circulation, $65 million in Treasury deposits with Federal Reserve Banks, and ^ ® n *n foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $358 million in member bank borrowings and $157 million in Federal Reserve holdings of U. S. Government securities. Total Reserve Bank credit decreased $82 million. v , . of Wednesday, September 19, holdings of U. S. Government securities bought outright were $243 million lower than a week earlier an dmember bank borrowings were $190 million lower. Member bank reserves, Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items SSeepptt.. 1199.. 11995566 Sept. 12. 19561 Sept.21. 1955 (In mdL llions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,673 -156 +109 Held under repurchase agreement IS - 11 + 18 Acceptances--bought outright 18 - 1 Loans, discounts, and advancee-- Member bank borrowings 654 -358 - 87 Other 1 - 26 Float — — 1,489 +444 +226 Total Reserve Bank credit 25,852 - 82 +239 Gold stock 21,883 — — +200 Treasury currency outstanding 5,043 + 1 + 37 52,778 - 81 +476 Money in circulation 30,810 -100 +409 Treasury cash holdings 771 + 1 - 23 Treasury deposits with F. R. Banks 453 - 65 -126 Foreign deposits with F. R. Banks 345 - 36 - 32 Other deposits with F. R. Banks 235 - 17 -159 Other F. R. accounts (net) 945 + 4 - 45 33,558 -213 + 23 Member bank reserves-- 19,220 +132 +453 Required reserves (estimated) 18,485 +n4 +294 Excess reserves (estimated) 735 + 18 +159 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 21,884 Treasury cash holdings 777 Treasury currency outstanding 5,043 Member bank) - Required (est.) 18 518 Money in circulation 30,745 reserves ) - Excess (est.) '519 On September 19, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,677 million, a decrease of Dig$iti1ze4d fmori FlRlAiSoERn for the week and an increase of $276 million from the comparable date httpa:/ /fryaesear.rst loauigsfoed.. 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. 19 Sept. 12, Sept. 21, 1956 1956 A SS E T S Gold certificate account 20,345,394 + 1 190,042 Redemption fund for F. R. notes 853,924 - 2,712 + 11,860 Total gold certificate reserves 21,199,318 - 2,711 + 201,902 F. R. notes of other Banks 357,990 + 29,393 + 75,030 Other cash 367,152 + 8,182 2,821 Discounts and advances 413,453 - 190,491 - 458,817 Industrial loans 906, - 55 + 200 Acceptances—bought outright 16,946 *• 1,514 - 271 U. S. Government securities: Bought outright-- Bills 697,620 242,550 144,126 Certificates 10,932,699 - +8 ,412,623 Notes 9,153,913 -8,245,623 • - Bonds 2,801,750 -- -- Total bought outright 23,585,982 242,550 4- 22,874 Held under repurchase agreement Total.U. S. Government securities 2?,585,982 - 242,550 22,874 Total loans and securities 24,017,287 * 434,610 - 436,014 Due from foreign banks 22 Uncollected cash items 5,886,922 + 945,351 + 891,513 Bank premises 71,035 + 382 + 12,012 Other assets 271,570 - 2,164 4* 130,345 TOTAL ASSETS 52,171,296 + 543,823 + 871,967 L I A B I L I T I ES Federal Reserve notes 26,519,583 - 72,462 + 433,347 Deposits: Member bank reserves 19,036,765 + 336,815 + 447,748 U. S. Treasurer—general account 325,888 - 228,034 - 390,653 Foreign 355,434 - 21,039 - 47,909 Other 220,222 22,385 - 162,953 Total deposits 19,938,309 + 65,357 - 153,767 Deferred availability cash items 4,416,293 + 537,931 + 485,146 Other liabilities and accrued dividends 22.248 + ,3,556 + , 6,734 TOTAL LIABILITIES 50,896,433 + 534,382 + 771,460 C A P I T AL A C C O U N TS Capital paid~*in ~ "** 319,289 f 422 + 21,810 Surplus (Section 7) 693,612 -• 4- 32,711 Surplus (Section 13b) 27,543 Other capital accounts 234,419 4 9,019 4- 45,986 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,171,296 + 543,823 4- 871,967 Ratio of gold certificate reserves to deposit and F. R, note liabilities combined 45.6# + .1# Contingent liability on acceptances purchased for foreign correspondents 50,931 - 673 + 23,663 Industrial loan commitments 2.476 + 51 , - 335 MATURITY DISTRIBUTION OF LOANS AMD SECURITIES. SEPTEMBER 19, 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 407,161 57 6,474 69,300 16 days to 90 days 5 10,472 6,549,019 91 days to 1 year 535 13,452,065 Over 1 year to 5 years 309 1,087,127 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized forT FoRtAaSElR 413,453 16,946 23,585,982 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 19, 1956 (In thousands of dollars) 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 20,345,394 963,240 5,387,203 1078,335 1810,704 1268,799 888,003 3700,472 797,803 343,872 868,408 707,531 2531,024 Redemption fund for F. R..notes 853,924 58,357 184,259 6600,,333311 7744,,009955 6688,,110011 50,283 153,383 42,507 23,143 42,149 25,640 71,676 Total gold certificate reserves 21,199,318 1021,597 5,571,462 1138,666 1884,799 1336,900 938,286 3853,855 840,310 367,015 910,557 733,171 2602,700 F-R. notes of other Banks 357,990 39,837 68,259 45,847 15,150 20,295 44,405 26,336 11,481 18,484 11,241 20,492 36,163 Other cash 367,152 28,646 81,548 24,016 36,439 19,506 28,461 48,518 19,857 8,263 12,295 14,300 45,303 Discounts and advances 413,453 4,815 14,940 16,920 56,280 28,015 14,975 187,980 16,165 29,621 22,991 15,951 4,800 Industrial loans 906 300 — 560 -- — -• 46 — Acceptances— Bought outright 16,946 -- 1166,,994466 -- - — -- -- -- -- — — U. S« Govt, securities: Bought outright— Bills 697,620 38,345 175,575 41,920 6600,,333399 42,952 35,872 121,714 29,126 15,758 30,228 27,726 78,065 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 23,585,982 1296,427 5,936,073 1417,305 2040,022 1452,165 1212,768 4115,093 984,715 532,737 1021,981 937,401 2639,295 Held under repurchase agreement Total U. S. Govt, sees. 23,585,982 1296,427 5,936,073 1417,305 2040,022 1452,165 1212,768 4115,093 984.715 532.737 1021.981 937.401 2639,295 Total loans & securities 24,017,28? 1301,542 5,967,959 1434,785 2096,302 1480,180 1227,743 4303,073 1000,880 562,404 1044,972 953,352 2644,095 Due from foreign "banks 22 1 1/ 6 2 2 1 13 1 1 1 12 Uncollected cash items 5,886,922 482,775 1,081,234 364,530 565,909 450,987 425,971 920,282 242,223 145,943 286,495 300,335 620,238 Bank premises 71,035 5,385 8,848 4,871 7,415 7,069 3,985 5,928 4,173 4,748 4,180 3,479 10,954 Other assets 271,570 14.678 66.411 15.851 23.376 16.530 14.801 49.217 11.067 6.101 11.516 11.680 10.120 TOTAL ASSETS 52,171,296 2894,461 12,845,729 3028,568 4629,392 3331,468 2683,653 9207,232 2129,992 1112,959 2281,257 2036,810 5989,775 Di1gi/tiz eAd 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 19, 1956 (in thousands of dollars) Total Boston New York ^; Richmond Atlanta Chicago j ^s mnne- Kansas Dallas d LL II AA BB II LL II TT II EESS FFeeddeerraall RReesseerrvvee nnootteess 26,519,583 1582,994 6,097,0091722,5272485,6882061,1471304,8715138,4941174,137 499,561 1050,007 710,049 2693,099 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 19,036,765 820,188 5,448,278 899,016 1543,414 791,129 921,595 3060,708 676,447 432,414 901,902 982,823 2558,851 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 325,888 42,340 6,951 17,230 24,321 27,545 17,051 68,203 19,44? 17,l8l 27,469 25,547 32,603 FFoorreeiiggnn 355,434 20,650 1/105,509 25,200 31,850 17,850 15,400 49,000 13,300 8,750 13,300 17,850 36,775 OOtthheerr 220,222 3,065 " 149,794 9,908 760 3,198 1,595 2,008 7,692 741 1,666 879 38,916 TToottaall ddeeppoossiittss 19,938,309 886,243 5,710,532 951,354 1600,345 839,722 955,641 3179,919 716,886 459,086 944,337 1027,099 2667,145 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 4,416,293 345,045 682,118 263,513 426,825 361,858 363,203 701,304 188,356 120,884 235,254 236,010 491,923 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 22,248 4,956 5,008 856 1,827 864 882 3,04 647 840 6ll 897 1.813 7 TTOOTTAALL LLIIAABBIILLIITTIIEESS 50,896,433 2819,238 12,494,667 2938,250 4514,685 3263,591 2624,597 9022,764 2080,026 1080,371 2230,209 1974,055 5853,986 CCAAPPIITTAALL AACCCCOOUUNNTTSS CCssppiittaall ppaaiidd iinn 319,289 16,355 91,991 20,469 30,376 14,599 15,000 43,290 10,924 7,077 12,872 17,545 38,791 SSaarrpplluuss ((SSeeccttiioonn 77)) 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 SSuurrpplluuss ((SSeeccttiioonn 1133bb)) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOtthheerr ccaappiittaall aaccccoouunnttss 234,419 14,190 55,925 15,869 20,762 14,917 12,453 37,855 10,872 6,852 11,079 10,056 23,589 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 52,171,296 2894,461 12,845,729 3028,568 4629,392 3331,468 2683,653 9207,232 2129,992 1112,959 2281,257 2036,810 5989,775 Conting. liab. on acceptances purchased for foreign correspondents 50,931 3,003 2/ 14,588 3,665 4,632 2,596 2,240 7,126 1,934 1,273 1,934 2,596 5,344 Industrial loan commit. 2,476 — 71 173 -- 104 -- -- 2*128 -- FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,518,523 1645,198 6,357,660 1805,561 2562,302 2112,462 1363,907 5224,630 1235,443 550,238 1083,156 750,613 2827,353 Collat. for F. R. notes: Gold certificate acct. 11,568,000 580,000 2,870,000 650,000 1090,000 895,000 500,000 2300,000 450,000 150,000 300,000 283,000 1500,000 Eligible paper 56,076 — 16,920 -- -• -- -- 16^165 — 22,991 -- -- U. S. Govt, securities 17,135,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 3100,000 900,000 460,000 800,000 525,000 1500,000 Total collateral 20,759,076 1780,000 6,470,000 1866,920 2640,000 2195,000 1500,000 5400,000 1366,165 610,000 1122,991 80&,000 3000,000 1/ After deducting $249,900,000 participations of other Federal Reserve Banks. 2/ After deducting $36,343,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis