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 11, 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 10 decreased $6 million to $18,929 million. Estimated required reserves decreased $123 million; and estimated excess reserves increased $117 million to $634 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $223 million, compared with $293 million the week before. The principal changes reducing average reserves were a decrease of $77 million in Federal Reserve float, and increases of $113 million in money in circulation and $80 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $143 million in Federal Reserve holdings of U. S. Government securities, $47 million in member bank borrowings, and $22 million in gold stock, and a decrease of $62 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $114 million. As of Wednesday, October 10, holdings of U. S. Government securities bought outright were $l8l million higher than a week earlier, U. S. Government securities held under repurchase agreement were $50 million lower, and member bank borrowings were $396 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 10, 1956 Oct. 3, 19561 Oct. 12, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,766 +164 - 26 Held under repurchase agreement 74 - 21 - 45 Acceptances-- Bought outright 19 + 2 + 1 Held under repurchase agreement * + * - 1 Loans, discounts, and advances— Member bank borrowings 857 + 47 - 36 Other 1 - 15 Float 990 -,77 +116 Total Reserve Bank credit 25,707 +n4 - 7 Gold stock 21,906 + 22 +222 Treasury currency outstanding 5,046 + 39 - - 52,658 +135 +253 Money in circulation 30,880 +113 +328 Treasury cash holdings 770 - 8 - 18 Treasury deposits with F. R. Banks 489 - 62 - 25 Foreign deposits with F. R. Banks 405 + 80 + 22 Other deposits with F. R. Banks 227 + 13 -202 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 958 + 5 - 53 t 33,729 +142 + 52 Member bank reserves— 18,929 6 +201 Required reserves (estimated) 18,295 -123 +120 Excess reserves (estimated) 634 +117 + 81 * Less than $500,000 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 21,910 Treasury cash holdings 776 Treasury currency outstanding 5,046 Member bank) - Required (est.) 18,277 Money in circulation 30,932 reserves ) - Excess (est.) 311 On October 10, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,720 million, a decrease of $6 million fop the week and an increase of $249 million from the comparable date Digitized for FRASER http://fara seyre.satloru isafegd.oor.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 Oct. 10, Oct. 3, Oct. 12, 1956 1956 1955 A S S E TS Gold certificate account 20,373,394 25,001 + 210,043 Redemption fund for F. R. notes 850,107 3,343 + 13,306 Total gold certificate reserves 21,223,501 21,658 + 223,349 F. R. notes of other Banks 314,762 34,513 + 91,744 Other cash 341,287 21,815 + 9,037 Discounts and advances 579,061 396,387 - 303,027 Industrial loans 915 11 + 243 Acceptances: Bought outright 18,951 1,000 + 744 Held under repurchase agreement 411 U. S. Government securities: Bought outright— Bills 944,970 + 180,700 - 206,676 Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 23,833,332 180,700 - 39^76 Held under repurchase agreement 32,000 50,000 - 87,900 Total U. S. Government securities 23,865,332 130,700 - 127,576 Total loans and securities 24,464,259 - 264/698 - 430,027 Due from foreign banks 22 Uncollected cash items 4,421,989 - 232,052 32,785 Bank premises 71,041 + 111 + 11,680 Other assets 295,078 + 10,786 +_ TOTAL ASSETS 51,131,939 - 520,523 + L I A B I L I T I ES Federal Reserve notes 26,631,875 + 84,481 + 369,373 Deposits: Member bank reserves 18,588,492 - 400,953 - 57,582 U. S. Treasurer—general account 425,453 - 121,246 - 76,990 Foreign 303,217 - 74,569 - 82,067 Other 296,992 + 98,978 - 365,441 Total deposits 19,614,154 - 497,790 - 582,080 Deferred availability cash items 3,561,662 - 119,243 + 126,752 Other liabilities and accrued dividends • 19,885 ± M &8 + 241 TOTAL LIABILITIES 49,827,576 -530,604 C A P I T AL A C C O U N TS Capital paid in 319,870 263 + 21,503 Surplus (Section 7) 693,612 + 32,711 is Surplus (Section 13b) 27,543 Other capital accounts 263,338 9,818 +_ TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,131,939 - 520,523 + Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.9# + Contingent liability on acceptances purchased for foreign correspondents 53,092 + 5,141 + 24,838 Industrial loan commitments 2,402 14 411 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 10, 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 573,006 1 7,534 216,000 16 days to 90 days 6,055 59 11,417 6,681,669 91 days to 1 year 556 14,165,913 Over 1 year to 5 years 299 373,279 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for FRASER http://fraser.sTtlooutisafeld. org/ 579,061 915 16,951 23,865,332 Federal Reserve Bank of St. Louis

a.4.i(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK OH OCTOBER 10, 1956 Total Boston New York Phila- Cleve Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphla land Louis apoljs City Francisco (in thousands of dollars) A S S E TS Gold certificate account 20,373,394 1007,636 5,259,758 1092,509 1827,997 1368,301 868,360 3692,107 853,498 345,221 818,638 695,505 2543,864 "Redemption fund for F. R. notes 850,107 58,031 183,000 59,798 75,554 66,548 50,014 152,815 42,336 23,099 42,029 25,531 71,352 Total gold certificate reserves 21,223,501 1065,667 5,442,758 1152,307 1903,551 1434,849 918,374 3844,922 895,834 368,320 860,667 721,036 2615,216 F.R. notes of other Banks 314,762 29,566 56,883 46,469 11,246 15,527 43,723 21,833 8,997 14,986 9,475 19,491 36,566 Other cash 341,287 25,546 77,473 21,049 32,873 17,546 27,403 44,263 19,562 9,318 11,141 13,386 41,727 Discounts and advances 579,061 9,975 203,200 4,075 79,800 12,030 45,872 121,830 11,900 12,775 33,686 30,468 13,450 Industrial loans 915 300 569 46 Acceptances— Bought outright 18,951 18,951 U. S. Govt, securities: Bought outright— Bills 944,970 51,941 237,827 56,784 81,733 58,181 48,590 164,870 39,453 21,345 40,945 37,557 105,744 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 2.801.750 154,001 705,139 168.360 242.332 172.501 144.063 488.827 116.971 61.281 121.400 111.151 311.518 Total 23,833,332 1310,023 5,998,325 1432,169 2061,416 1467,394 1225,486 4158,249 995,042 538,324 1032,698 947,232 2666,974 Held under repurchase agreement .32,000 . ^000 ** -- «»«» — Total U. S. Govt, sees. 23,865,332 1310,023 6,030,325 1432,169 2061,416 1467,394 1225,486 4158,249 995,042 538,324 1032,698 947,232 2666,974 Total loans & securities 24,464,259 1320,298 6,252,476 1436,813 2141,216 1479,424 1271,358 4280,079 1006,942 551,145 1066,384 977,700 2680,424 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,421,989 332,310 768,275 272,347 388,035 366,733 346,975 717,362 208,077 130,485 226,702 218,412 446,276 Bank premises 71,041 5,352 8,825 4,849 7,534 7,179 3,975 5,916 4,151 4,608 4,194 3,434 11,024 Other assets 295.078 16.047 72.781 17.230 25.6l4 17.881 15.888 53.180 12.007 6.606 12.432 12.408 12.984 TOTAL ASSETS 51,131,939 2794,787 12,679,477 2951,066 4510,091 3339,140 2627,697 8967,558 2155,571 1085,469 2190,996 1965,868 5864,219 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 OCTOBER 10, 1956 Total Boston New York | ^; Richmond Atlanta Chicago ^ / ^ is ^ t" Dallas FranSsco d L s LL II AA BB II LL II TT II EESS (In thousands of dollars) FFeeddeerraall RReesseerrvvee nnootteess 26,631,875 1581,510 6,125,933 1722,259 2489,802 2090,474 1324,496 5145,373 1183,223 496,766 1054,895 717,097 2700,047 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,588,492 812,557 5,260,562 881,944 1518,015 812,672 894,458 2967,160 710,147 416,654 854,430 946,532 2513,361 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 425,453 25,885 56,753 29,298 26,651 47,120 31,609 53,132 22,835 20,125 38,258 32,016 41,771 FFoorreeiiggnn 303,217 17,228 1/ 94,704 21,024 26,572 14,892 12,848 40,880 11,096 7,300 11,096 14,892 30,685 OOtthheerr 296,992 4,838 "" 217,971 10,030 951 3,734 1,719 1,298 7,610 740 1,380 1,044 45,677 TToottaall ddeeppoossiittss 19,614,154 860,508 5,629,990 942,296 1572,189 878,418 940,634 3062,470 751,688 444,819 905,164 994,484 2631,494 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 3,561,662 275,083 558,843 193,383 328,619 299,714 301,273 566,485 168,793 110,231 177,926 189,503 391,809 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 19,885 1,021 5,486 1,042 2,267 955 868 3,445 686 537 731 762 2,085 TOTAL LIABILITIES 49,827,576 2718,122 12,320,252 2858,980 4392,877 3269,561 2567,271 #777,773 2104,390 1052,353 2138,716 1901,846 5725,435 CAPITAL ACCOUNTS Capital paid in 319,870 16,402 92,113 20,474 30,392 14,636 15,045 43,327 10,973 7,101 12,882 17,734 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 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 263,338 15,585 63,966 17,632 23,253 16,582 13,778 43,135 12,038 7,356 12,301 11,134 26,578 TTOOTTAALL LLIIAABBIILLIITTIIEESS AANNDD CCAAPPIITTAALL AACCCCOOUUNNTTSS 51,131,939 2794,787 12,679,477 2951,066 4510,091 3339,140 2627,697 8967,558 2155,571 1085,469 2190,996 1965,868 5864,219 CCoonnttiinngg.. lliiaabb.. oonn aacccceepptt-aanncceess ppuurrcchhaasseedd ffoorr ffoorreeiiggnn ccoorrrreessppoonnddeennttss 53,092 3,133 2/ 15,179 3,823 4,832 2,708 2,336 7,434 2,018 1,328 2,018 2,708 5,575 IInndduussttrriiaall llooaann ccoommmmiitt.. 2,402 —— —- 26 145 •• —— 103 -— - —— 2,128 —— FEDERAL RESERVE AGENTS' ACCOUNTS FF,, RR.. nnootteess oouuttssttaannddiinngg 27,521,754 1630,895 6,366,010 1799,131 2555,924 2131,201 1372,070 5242,674 1224,680 548,201 1002,035 755,700 2813,233 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 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 EElliiggiibbllee ppaappeerr 49,661 —— —— 4,075 *" — *• — * —— 11,900 -* 33,686 -* BB.. SS.. GGoovvtt,, sseeccuurriittiieess 17,135,000 1200,000 3,600,000 1200,000 1550,000 1300,000 100C;000 3100,000 900,000 460,000 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 28,752,661 1780,000 6,470,000 1854,075 2640,000 2195,000 1500,000 5400,000 1361,900 610,000 1133,686 808,000 3000,000 1/ After deducting $208,488,000 participations of other Federal Reserve Banks. 2/ After deducting $37,913,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis