H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF T0E FEDERAL RESERVE SYSTEM September 27, 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 26 decreased $239 million to $18,981 million. Estimated required reserves decreased $55 million; and estimated excess reserves decreased $184 million to $551 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $154 million; the week before they were $8l million less than excess reserves. The principal changes reducing average reserves were decreases of $115 million in Federal Reserve holdings of U. S. Government securities and $95 million in Federal Reserve float, and an increase of $198 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $96 million in money in circulation, $16 million in "other" deposits with Federal Reserve Banks, and $14 million in foreign deposits with Federal Reserve Banks, and an increase of $51 million in member bank borrowings. Total Reserve Bank credit decreased $158 million. As of Wednesday, September 26, holdings of U. S. Government securities bought outright were $33 million lower than a week earlier, U. S. Government securities held under repurchase agreement were $40 million higher, and member bank borrowings were $160 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items SSeepptt.. 2266,, 11995566 Sept. 19, 19561 Sept. 28, 1955 (In m] Lllions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 23,555 -118 - 32 Held under repurchase agreement 21 + 3 + 10 Acceptances— Bought outright 17 - 1 - 1 Held under repurchase agreement - 1 Loans, discounts, and advances— Member bank borrowings 705 + 51 -183 Other 1 - 13 — - Float 1,394 - 95 +434 Total Reserve Bank credit 25,694 -158 +216 Gold stock 21,884 + 1 +201 Treasury currency outstanding 5,044 + 1 + 38 52,622 -156 +455 Money in circulation 30,714 - 96 +391 Treasury cash holdings 774 + 3 - 13 Treasury deposits with F. R. Banks 651 +198 - 42 Foreign deposits with F. R. Banks 331 - 14 - 39 Other deposits with F. R. Banks 219 - 16 -167 Other F, R. accounts (net) 951 + 6 - 39 33,641 +83 +91 Member bank reserves-- 18,98*"° -239 +363 Required reserves (estimated) 18,430 - 55 +296 Excess reserves (estimated) 551 -184 + 67 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 780 Treasury currency outstanding 5,046 Member bank) - Required (est.) 18,415 Money in circulation 30,661 reserves ) - Excess (est.) 241 On September 26, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,715 million, an increase of $38 million for the week and an increase of $256 million from the comparable date Digitizae dy feora FrR AaSgEoR. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

8.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Sept. 26, Sept. 19, Sept. 28, 1956 1956 1955 A S T S Gold certificate account 20,343,393 • 2,001 + 190,042 Redemption fund for F. R. notes 853,451 - 473 12,797 Total gold certificate reserves 21,196,844 - 2,47^ + 202,839 F. R. notes of other Banks 383,897 + 25,907 + 115,117 Other cash 370,387 + 3,235 + 6,454 Discounts and advances 573,273 + 159,820 - 88,812 Industrial loans 943 + 37 + 224 Acceptances: Bought outright 1166,,995533 + 7 •<* 275 Held under repurchase agreement 2,234 " — U. S. Government securities: Bought outright-- Bills 666644,,117700 - 33,450 - 293,976 Certificates 10,932,699 — +8 ,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 •• Total bought outright 23,552,532 33,450 126,976 - Held under repurchase agreement 40,000 + ,40,000 + 17,500 Total U. S. Government securities 23,592,532 + 6,550 - 109,476 T . Total loans and securities 24,183,701 + 166,414 200,573 Due from foreign banks 22 — — Uncollected cash items 4,945,503 941,419 + 645,072 Bank premises 70,951 - 84 + 11,795 Other assets 282,026 + 10,456 + 113322,,880066 TOTAL ASSETS 51,433,331 - 737,965 + 991133,,551100 L I A B I L I T I ES Federal Reserve notes "** 26,462,500 - 57,083 396,166 Deposits: Member bank reserves 18,655,860 - 380,905 + 180,477 U. S. Treasurer-rgeneral account 582,577 + 256,689 +• 70,715 Foreign 330,542 - 24,892 - 52,588 Other 211,969 8,253 - 160,497 Total deposits 19,780,948 - 157,361 +" 38,107 Deferred availability cash items 3,885,915 - 530,378 + 373,003 Other liabilities and accrued dividends 19,686 2,562 + 2,434 TOTAL LIABILITIES 50,149,049 - 747,384 +809,710 C A P I T AL A C C O U N TS Cejpital iald™in ~ 319,553 264 + 21,882 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 243,574 + , 9,155 49,207 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,433,331 - 737,965 + 913,510 RAtio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8% .2# Contingent liability on acceptances purchased for foreign correspondents 49,288 1,643 + 22,139 Industrial loan commitments 2,433 43 354 MATURITY DISTRIBUTION OF LOANS AND SECURITIES .SEPTEMBER 26, 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 564,785 57 5,053 " 151,150 16 days to 90 days 8,470 5 11,900 6,473,719 91 days to 1 year 18 572 13,452,065 Over 1 year to 5 years 309 1,087,127 Over 5 years to 10 year# 1,013,614 DigitiOzevd eforr 1FR0A ySEeRa rs 1,414,857 http://fraser.Tstlooutiasfle d.org/ 573,273 9*3 K953 23,592,532 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBE R26, 1956 Total Boston New York fhila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Si£ .delphia land Louis apolis City | I Francisco (in thousands of dollars) A S S E TS Gold certificate account 20,343,393 962,167 5,103,938 1115,727 1869,656 1343,752 891,199 3782,719 807,711 356,616 829,388 724,096 2556,424 Redemption fund for F. R. notes 853,451 58,227 183,715 60,111 75,865 67,432 50,173 153,144 42,439 23,124 42,101 25,596 71,524 Total gold certificate reserves 21,196,844 1020,394 5,287,653 1175,838 1945,521 1411,184 941,372 3935,863 850,150 379,740 871,489 749,692 2627,948 F.R. notes of other Banks 383,897 39,604 71,045 50,782 17,898 21,320 46,931 30,939 12,033 19,728 11,742 21,234 40,641 Other cash 370,387 28,321 82,984 24,732 34,615 19,689 28,927 48,433 19,324 9,045 12,393 14,077 47,847 Discounts and advances 573,273 7,880 234,635 8,000 47,880 29,000 39,285 78,030 30,850 33,780 35,936 17,547 10,450 Industrial loans 943 300 597 46 Acceptances— Bought outright 16,953 16,953 U. S. Govt, securities: Bought outright— Bills 664,170 , ,3 ~6 ,3540,71 51267,156 39,910 57,446 40,893 115,878 __2_7_,_729 15,002 —28,^778 2.6_, 397 7^,322 t 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 23,552,532 1294,589 927,654 1415,295 2037,129 1450,106 1211,048 4109,257 983,318 531,981 1020^531 936^072 263^552 Held under repurchase agreement 40.000 40.000 Total U. S. Govt, sees. 23,592,532 1294,589 5.967,654 1415,295 2037,129 1450,106 1211,048 4109,257 983.318 531,981 1020.531 936,072 2635.552 Total loans & securities 24,183,701 1302,769 6,219,242 1423,892 2085,009 1479,106 1250,333 4187,287 1014,168 565,807 1056,467 953,619 2646,002 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,945,503 372,137 892,947 296,862 457,945 397,364 352,632 812,708 214,727 123,039 238,468 243,604 543,070 Bank premises 70,951 5,351 8,851 4,849 7,542 7,102 3,974 5,923 4,152 4,576 4,198 3,479 10,954 Other assets 282,026 15,256 69,496 16,415 24,428 17,277 15,280 50,645 11,502 6,335 12,008 12,039 31,345 TOTAL ASSETS 51,433,331 2783,833 12,632,224 2993,372 4572,960 3353,043 2639,450 9071,801 2126,057 1108,271 2206,766 1997,745 5947,809 1/ 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 OP CONDITION OF EACH FEDERAL RESERVE BANK ON SEPTEMBER 26, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco (In thousands of dollars) L I A B I L I T I ES Federal Reserve notes 26,462,500 1577,291 6,086,730 1717,913 2483,538 2064,691 1307,798 5128,415 1172,251 497,518 1045,297 707,256 2673,802 Deposits: Member bank reserves 18,655,860 769,167 5,261,074 896,667 1518,430 809,992 910,995 3005,952 681,023 432,493 874,198 '951,277 2544,592 U.S.Treas.-gen. acct. 582,577 42,478 83,254 50,977 37,712 64,163 43,952 66,665 22,699 30,002 38,945 40,058 61,672 Foreign 330,542 18,762 1/103,465 22,896 28,938 16,218 13,992 44,520 12,084 7,950 12,084 "16,218 33,415 Other 211,969 3,649 - 136,710 10,354 833 3,452 1,153 1,966 10,722 1,277 1,143 1,329 39,381 Total deposits 19,780,94# 834,056 5,594,503 980,094 1585,913 893,825 970,092 3119,103 726,528 471,722 926,370 1008,882 2679,060 Deferred availability 3,885,915 295,734 601,593 202,781 386,006 325,146 301,225 634,932 176,239 105,541 182,949 217,598 456,171 cash items Other liabilities and 19,686 1,050 5,887 899 1,961 921 817 3,131 709 721 708 892 1,990 accrued dividends 50,149,049 2708)131 12,278/713 2902,487 4457',4l8 3284,583 2579,932 0005,581 2075,7271075,502 2155,324 1934,620 5811,023 TOTAL LIABILITIES CAPITAL ACCOUNTS Capital paid in 319,553 16,391 92,081 20,478 30,384 14,629 15,035 43,305 10,932 7,098 12,872 17,557 38,791 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 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l40 Surplus (Section 13b} Other capital accounts 243,574 14.633 58,284 16,427 21,589 15,470 12,880 39,592 11,228 7,012 11,473 10,4o6 24,580 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,433,331 2783,833 12,632,224 2993,372 4572,960 3353,043 2639,450 9071,801 2126,0571108,271 2206,766 1997,745 5947,809 Conting. liab. on acceptances purchased for 49,288 2,920 2/ 13,945 3,564 4,505 2,525 2,178 6,930 1,881 1,237 1,881 2,525 5,197 foreign correspondents 2,433 33 168 104 2,128 Industrial loan commit. 11 'LJI in V U n u u u xu FF.. RR.. nnootteess oouuttssttaannddiinngg 27,512,533 "I63Y/B26""""&,;"374,649 1801,782 2561,695 2124,127 1364,645 5213,843 1230,485 549,448 1083,653 746,753 2023,627 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: 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 11,568,000 GGoolldd cceerrttiiffiiccaattee aacccctt.. —- — - 8,000 -- -— - - —- 30,850 - — 35,936 -- ~~ 74,786 EElliiggiibbllee ppaappeerr 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 17,135,000 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 1780,000 6,470,000 1858,000 2640,000 2195,000 1500,000 5400,000 1380,850 610,000 1135,936 000,000 3000,000 TToottaall ccoollllaatteerraall 28,777,786 1/ After deducting $227,052,000 participations of other Federal Reserve Banks. 2/ After deducting $35,343,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis