H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM October 4, 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 October 3 decreased $46 million to $18,935 million. Estimated required reserves decreased $21 million; and estimated excess reserves decreased $25 million to $517 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $293 million, compared with $163 million the week before. The principal changes reducing average reserves were a decrease of $327 million in Federal Reserve float, and an increase of $53 million in money in circulation. The principal offsetting changes were increases of $121 million in Federal Reserve holdings of U. S. Government securities, and $105 million in member bank borrowings, and a decrease of $100 million in Treasury deposits with Federg.1 Reserve Banks. Total Reserve Bank credit decreased $101 million. As of Wednesday, October 3, holdings of U. S. Government securities bought outright were $100 million higher than a week earlier, U« S. Government securities held under repurchase agreement were $42 million higher, and member bank borrowings were $402 million higher. Memtier bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 3, 1956 Sept. 26, 19561 Oct. 5, 1955 (In mil]Li ons of dollars) Reserve Bank Credit: U. S. Government securities— Bought outright--System account 23,602 + 47 -125 Held under repurchase agreement 95 + 74 - 22 Acceptances— Bought outright 17 mm w «• • Held under repurchase agreement - 3 -- -- Loans, discounts, and advances- Member bank borrowings 810 +105 - 19 Other 1 - 13 Float 1,067 -327 +251 Total Reserve Bank credit K 25,593 -101 + 68 Gold stock > 21,884 +200 — - Treasury currency outstanding ]1 5,046 + 2 + 39 11 52,523 - 99 +308 Money in circulation 130,7 6r^ + 53 +339 Treasury cash holdings ]> 776- b + 4 - 13 Treasury deposits with F. R. Banks 551 -100 + 26 Foreign deposits with F. R. Banks 325 - 6 - 56 Other deposits with F. R. Banks 214 - 5 -176 Other F. R. accounts (net) 953 + 2 - 46 1 ' 33,587 - 54 + 72 Member bank reserves-- 18.935 - 46 +235 Required reserves (estimated) l8,4l8 - 21 +229 Excess reserves (estimated) 517 - 25 + 6 p - 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: P Gold stock ? 21,884 Treasury cash holdings J? 777 Treasury currency outstanding 5 5,045 Member bank) - Required (est.) 18,410 Money in circulation 4 30,786 reserves ) - Excess (est.) 579 On October 3, 195&, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,726 million, an increase of $11 million for the week and an increase of $264 million from the comparable date Digitized for FRASER http:/a/fr asyeer.astrlo uiasfgedo.o.rg / 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 Oct. 3, Sept. 26, Oct. 5, 1956 1956 11995555 A S S E TS Gold certificate account 20,348,393 + 5,000 + 195,041 Redemption fund for F. R. notes 853,450 - 1 + 12,900 Total gold certificate reserves 21,201,843 + 4,999 + 207,941 F. R, notes of other Banks 349,275 - 34,622 + 110,222 Other cash 363,102 - 7,285 + 10,183 Discounts and advances 975,448 + 402,175 + 325,339 Industrial loans 926 - 17 + 227 Acceptances: Bought outright 17,951 + 998 + 143 Held under repurchase agreement 2,080 -- -- ~ U. S. Government securities: Bought outright— Bills 764,270 + 100,100 - 242,876 Certificates 10,932,699 +8 ,412,623 Notes 9,153,913 • - -8,245,623 Bonds 2,801,750 — — —— Total bought outright 23,652,632 + 100,100 75,876 - Held under repurchase agreement 82,000 + 42,000 21,900 - Total U. S. Government securities 23,734,632 + 142,100 - 97,776 Total loans and securities 24,728,957 + 545,256 + 225,853 Due from foreign banks 22 -- Uncollected cash items 4,654,041 291,462 + 469,950 - Bank premises 70,930 21 + 11,798 - Other assets 284,292 + 2,266 + 149,176 TOTAL ASSETS 51,652,462 + 219,131 +1,185,123 L I A B I L I T I ES Federal Reserve notes 26,547,394 + 84,894 + 416,254 Deposits: Member bank reserves 1188,,998899,,444455 + 333333,,558855 + 448822,,223311 U. S. Treasurer—general account 546,699 35,878 + 65,851 - Foreign 377,786 + 47,244 - 10,621 Other 198,014 13,955 190,197 - - Total deposits 20,111,944 + 330,996 + 347,264 Deferred availability cash items 3,680,905 205,010 + 314,086 - Other liabilities and accrued dividends 17,937 1,749 - 45 TOTAL LIABILITIES 50,358,180 + 209,131 +1,077,559 C A P I T AL A C C O U N TS Capital paid in 319,607 + 54 + 21,822 Surplus (Section 7) 693,612 -- + 32,711 Surplus (Section 13b) 27,543 -- — Other capital accounts 253,520 + 9,946 + 53,031 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,652,462 + 219,131 +1,185,123 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.4# .h$> ..33## - - Contingent liability on acceptances purchased for foreign correspondents 4477,,995511 - 1,337 + 2200,,778855 Industrial loan commitments 2,416 - 17 - 370 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 3, 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 960,016 1 " 6^513 " 240,250 16 days to 90 days 7,432 59 11,438 6,526,719 91 days to 1 year 567 14,165,913 Over 1 year to 5 years 299 373,279 Over 5 years to 10 years 1,013,614 DigitizOevd eforr FR1A0S EyRe ars 1,414,857 http://fraser.Tstolotuiasfeld .org/ 975,448 17,951 23,734,632 Federal Reserve Bank of St. Louis

E.4.1(b) Total Boston 1 New York Phila- Cleve- Richmond Atlanta CChhiiccaaggoo St. Minne- Kansas DDaallllaass San i delphia land Louis apolis City Francisco (In 1t housands of dollars) A S S E f S Gold certificate account 20,348,393 1048,076 5,256,249 1047,332 1795,534 1345,773 864,575 3576,910 845,837 368,400 845,602 711,707 2642,398 Redemption fund for F. R. notes 885533,,445500 5588,,222266 183,715 6600,,111111 75,865 67,432 50,173 153,144 42,439 23,124 42,101 25,596 71,524 Total gold certificate reserves 21,201,843 1106,302 5,439,964 1107,443 1871,399 1413,205 914,748 3730,054 888,276 391,524 887,703 737,303 2713,922 F.R. notes of other Banks 349,275 40,451 63,123 51,269 14,942 16,640 47,587 23,748 10,277 17,075 8,125 18,553 37,485 Other cash 363,102 27,567 83,367 24,065 35,612 18,849 26,984 46,748 19,396 8,174 11,855 14,385 46,100 Discounts and advance# 975,448 10,205 247,275 45,025 165,110 41,100 55,457 299,980 26,150 12,750 38,021 24,225 10,150 Industrial loans 926 300 — 580 — -- — — -- — 46 wmmm mm Acceptances- Bought outright 17,951 -- 17,951 " -- -- • — — <•» — U. S. Govt, securities: Bought outright— Bills 776644,,227700 42,009 192,349 45,925 66,104 47,056 39,299 133,343 31,908 17,263 33,116 30,375 85,523 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 23,652,632 1300,091 5,952,847 1421,310 2045,787 1456,269 1216,195 4126,722 987,497 534,242 1024,869 940,050 2646,753 Held under repurchase agreement 82,000 8822,,000000 -- — — — — • — -- — — - — •»«* Total U. S. Govt. sees. 23,734,632 1300,091 6,034,847 1421,310 2045,707 1456,869 1216,195 4426,722 987,497 534,2# 1024,869 940,050 2646,753 Total loans & securities 24,728,957 1310,596 6,300,073 1466,915 2210,897 1497,369 1271,652 4426,702 1013,647 547,038 1062,890 964,275 2656,903 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,654,041 361,953 843,373 277,973 439,511 367,701 339,269 750,464 204,071 127,207 226,614 225,148 490,757 Bank premises 70,930 5,352 8,825 4,849 7,534 7,107 3,975 5,910 4,151 4,608 4,194 3,408 11,017 Other assets 284,292 15,375 70,107 16,600 24,840 17,095 15,336 51,146 11,540 6,365 12,105 11,929 31,854 TOTAL ASSETS 51,652,462 2867,597 12,808,838 2949,116 4604,737 3337,967 2619,552 9034,775 2151,359 1101,992 2213,487 1975,002 5988,040 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 OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 3 1956 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 (in thousands of dollars) Federal Reserve notes 26,547,394 1578,668 6,102,413 1720,638 2481,433 2082,793 1320,433 5132,393 1179,703 496,989 1051,004 711,363 2689,564 Deposits: Member bank reserves 18,989,445 841,772 5,389,037 869,559 1564,457 820,127 908,327 3020,048 699,359 426,284 875,094 962,126 2613,255 U.S.Treas.-gen. acct. 546,699 45,939 Il6,4l8 31,662 32,349 51,676 37,258 47,000 36,056 28,368 40,064 31,015 48,894 Foreign 377,786 21,653 1/115,723 26,424 33,397 18,717 16,148 51,380 13,946 9,175 13,946 18,717 38,560 Other 198,014 7,770 " 119,462 9,525 1,958 4,432 1,902 1,908 7,511 661 1,586 1,222 40,077 Total deposits 20,111,944 917,134 5,740,640 937,170 1632,161 094,952 963,635 3120,336 756,872 464,400 930,690 1013,000 2740,7% Deferred availability cash items 3,680,905 294,760 604,305 198,932 372,483 290,397 274,662 590,907 163,378 107,061 179,347 186,443 418,230 Other liabilities and accrued dividends 17,937 846 4,912 858 2,295 817 854 3,156 638 536 631 639 1,755 TOTAL LIABILITIES 50,358,100 2791,W 12,452,270 2057,590 4400,372 3260,959 2559,584 0046,792 2100,591 1069,074 2161,672 1911,525 5850,335 CAPITAL ACCOUNTS Capital paid in 319,607 16,392 92,090 20,478 30,386 14,636 15,037 43,323 10,932 7,100 12,873 17,562 38,798 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 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 253,520 15,119 61,332 17,060 22,410 16,011 13,328 41,337 11,666 7,159 11,845 10,761 25,492 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,652,462 2867,597 12,808,838 2949,116 4604,737 3337,967 2619,552 9034,775 2151,359 1101,992 2213,487 1975,002 5988,040 Conting. liab. on acceptances purchased for foreign correspondents 47,951 2,832 2/ 13,679 3,456 4,368 2,448 2,112 6,720 1,824 1,200 1,824 2,448 5,040 Industrial loan commit. 2,4l6 40 145 103 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,492,373 1639,300 6,372,541 1800,633 2549,004 2132,687 1368,142 5210,228 1230,013 548,526 1079,672 747,212 2814,415 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 1 1 5 5 0 0 , , 0 0 0 0 0 0 3 3 0 0 0 0 , , 0 0 0 0 0 0 2 83,000 1500,000 Eligible paper 109,196 —— —- 45,025 —— -— —- —- 26,150 38,021 38,021 -- — 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 28,012,196 1700,000 6,470,000 1095,025 2640,000 2195,000 1500,000 5400,000 1376,150 610,000 1130,021 008,000 3000,000 1/ After deducting $262,038,000 participations of other Federal Reserve Banks 2/ After deducting $34,272,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis