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 18, 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 17 decreased $39 millio nto $18,890 million. Estimated required reserves decreased $13 million; and estimated excess reserves decreased $26 million to $5?1 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $143 million, compared with $260 million the week before. The principal changes reducing average reserves were a decrease of $143 million in member bank borrowings, and increases of $202 million in "other" deposits with Federal Reserve Banks and $73 million in money in circulation. The principal offsetting changes were increases of $225 million in Federal Reserve float and $20 million in Federal Reserve holdings of U. S. Government securities, and decreases of $101 million in Treasury deposits with Federal Reserve Banks and $32 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $103 million. As of Wednesday, October 17, holdings of U. S. Government securities bought outright were $27 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $32 million lower, and member bank borrowings were $127 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 17. 1956 Oct. 10, 19561 Oct. 19, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,846 + 80 - 70 Held under repurchase agreement 14 - 60 - 91 Acceptances-- Bought outright 19 m> m + 1 Held under repurchase agreement -- - * - 1 Loans, discounts, and advances— Member bank borrowings 714 -143 -314 Other 1 — - 13 Float 1,215 +225 +127 Total Reserve Bank credit 25,810 +103 -359 Gold stock 21,910 + 4 +225 Treasury currency outstanding 5,047 + 1 + 4o 52,766 +108 - 95 Money in circulation 30,953 + 73 +332 Treasury cash holdings 775 + 5 - 2 Treasury deposits with F. R. Banks 388 -101 -146 Foreign deposits with F. R, Banks 373 - 32 - 18 Other deposits with F. R. Banks 429 +202 + 20 Other F. R. accounts (net) 958 — « - 52 33,876 +i4f +134 Member bank reserves-- 18,890 - 39 -229 Required reserves (estimated) 18,319 - 13 -175 Excess reserves ^estimated) - 26 571 - 54 *Less than $$00,000 For Wednesday Federal Reserve figures see. STATEMEN TOF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in million of dollars: Gold stock 21,909 Treasury cash holdings 783 Treasury currency outstanding 5,047 Member bank) - Required (est.) 18,429 Money in circulation 30,882 reserves ) - Excess (est.) 495 On October 17, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,671 million, a decrease of $49 million for the week and an increase of $192 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 FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Oct. 17, Oct. 10, Oct. 19, 1956 1956 1955 A S S E TS Gold certificate account 20,373,391 ~ 3 + 210,041 Redemption fund for F. R. notes 847,887 - 2,220 + 11,085 Total gold certificate reserves 21,221,278 - 2,223 + 221,126 F. R. notes of other Banks 331,297 + 16,535 + 82,988 Other cash 349,781 + 8,494 + 5,507 Discounts and advances 451,864 - 127,197 351,383 Industrial loans 860 - 55 + 245 Acceptances—bought outright 18,722 - 229 + 691 U. S. Government securities: Bought outright— . Bills 971,570 + 26,600 280,176 Certificates 10,932,699 -- +8, 412,623 Notes 9,153,913 -8,245,623 -* Bonds 2,801,750 —— «•— Total bought outright 23,859,932 + 26,600 - 113,176 Held under repurchase agreement 32,000 - -- Total U. S. Government securities 23,859,932 - 5,400 - 113,176 Total loans and securities 24,331,378 - 132,881 463,623 Due from foreign banks 22 mm mm Uncollected cash items 6,062,337 +1,640,348 + 877,038 Bank premises 71,574 + 533 + 11,904 Other assets 306,359 + 11,281 + 155,818 TOTAL ASSETS 52,674,026 +1,542,087 + 890,758 L I A B I L I T I ES Federal Reserve notes ~" 26,610,102 - 21,773 + 384,655 Deposits: Member bank reserves 18,924,182 + 335,690 39,163 U. S. Treasurer—general account 423,487 - 1,966 - 151,731 Foreign 340,879 + 37,662 ~ 37,785 Other 293,048 - 3,944 - 87,199 Total deposits 19,981,596 + 367,442 315,878 Deferred availability cash items 4,747,556 +1,185,894 + 706,614 Other liabilities and accrued dividends 20,817 + 932 + 1,548 TOTAL LIABILITIES 51,360,071 +1,532,495 + 776,939 C A P I T AL A C C O U N TS Capital paid in 319,932 + 62 + 21,310 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 • «• • «. Other capital accounts 272,868 + 9,530 + 59,798 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,674,026 +1,542,087 + 890,758 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5% .4# + .4$ - Contingent liability on acceptances purchased for foreign correspondents 50,401 2,691 + 22,291 Industrial loan commitments 2,454 + 52 - 415 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 17, 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 446,774 1 7,738 190,320 16 days to 90 days 5,090 66 10,984 6,701,949 9-1 days to 1 year 504 14,165,913 Over 1 year to 5 years 289 373,279 Over 5 years to 10 years 1,013,614 Over 10 years 1,414,857 Digitized for T FR o A t S a E l R 451,864 18,722 23,859,932 http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF C0NDIT1C ON OF EACH FEDERAL RESERVE BANK ON OCTOBER 1" r, 1956 Phila- St. Minne- Kansas San Total Boston New York {Richmond Atlanta Chicago Dallas delphia land 1 Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,373,391 1049,852 5,231,658 1056,327 1885,006 1354,299 838,163 3643,383 848,993 349,017 834,995 694,722 2586,976 Redemption fund for F. R. notes 847,887 57,922 182,458 59,621 75,373 65,869 49,925 152,638 42.274 23,083 41,983 25,495 71,246 Total gold certificate reserves 21,221,278 1107,774 5,414,116 1115,948 1960,379 1420,168 888,088 3796,021 891,267 372,100 876,978 720,217 2658,222 F.R. notes of other Banks 331,297 30,650 68,236 48,209 12,539 16,754 46,470 23,423 8,842 12,057 11,195 18,835 34,087 Other cash 349,781 25,393 81,009 22,293 34,844 17,075 26,902 45,465 20,192 8,537 12,305 14,345 41,421 Discounts and advances 451,864 10,825 145,525 7,440 24,580 7,970 36,825 147,030 16,050 7,675 23,833 10,361 13,750 Industrial loans 860 300 515 45 Acceptances— Bought outright 18,722 18,722 U. S. Govt, securities; Bought outright— Bills 971,570 53,403 244,522 58,382 84,034 59,819 49,958 169,511 40,563 21,946 42,098 38,614 108,720 Certificates 10,932,699] 600,927 2,751,520 656,957 945,602 673,115 —5 62,148 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 23,859,932 1311 1-a, l4.O8r5 H 6r\,r\0ir0\5 r,\r0\2£~0* r rt1 r4y33,767 2063,717 n1 14./6Lr9\, A0i3n2 Q1rl2, Q26/v,\ 8r\5r\4£ *4t162,890 996,15 2err \ 5m3Q8 n,n9r2 15 O rn1 n0l3.Q3 ,r»8Q5n1 n t9A4 8,289 2669,950 Held under repurchase agreement -Total U. S. Govt, sees. 23,859,932 1311.485 6.005.020 1433.767 2063.717 1469.032 1226.854 4162.890 996.152 538.925 1033.851 948,289 2669.950 Total loans & securities 24,331,378 1322,610 6,169,267 1441,722 2088,297 1477,002 1263,679 4309,920 1012,202 546,645 1057,684 958,650 2683,700 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 6,062,337 491,926 1,207,035 353,320 548,012 479,547 438,944 1026,691 265,769 159,054 270,169 280,378 541,492 Bank premises 71,574 5,352 9,013 4,849 7,595 7,188 3,975 5,916 4,165 4,723 4,194 3,580 11,024 -Other assets 306,359 16,820 75,491 17,910 26,742 18,504 16,493 55,043 12,438 6,788 12,909 13,048 34,173 TOTAL ASSETS 52,674,026 3000,526 13,024,173 3004,253 4678,410 3436,239 2684,552 9262,482 2214,876 1109,905 2245,435 2009,054 6004,121 Dig1it/iz edA ffort FeRrA SdEeRd ucting $16,000 participations of other Federal Reserve Banks. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 17, 1956 H.4.1(c) 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 26,610,102 1578,887 6,103,909 1720,515 2492,825 2097,217 1321,653 5153,627 1182,932 495,622 1052,410 718,531 2691,974 Deposits: Member bank reserves 18,924,182 906,907 5,352,893 891,626 1517,235 822,544 896,550 3033,395 707,696 415,625 883,436 924,550 2571,725 U.S.Treas.-gen. acct. 423,487 14,395 28,673 30,002 40,144 41,714 25,534 53,986 35,587 20,653 32,497 47,366 52,936 Foreign 340,879 20,237 1/ 95,952 24,696 31,213 17,493 15,092 48,020 13,034 8,575 13,034 17,493 36,040 Other 293,048 3,925 " 218.013 9,480 836 3,192 1,567 1,049 7,176 962 1,838 918 44,092 Total deposits 19,981,596 945,464 5,695,531 955,804 1589,428 884,943 938,743 3136,450 763,493 445,815 930,805 990,327 2704,793 Deferred availability cash items 4,747,556 397,509 857,633 234,291 475,697 382,702 362,287 777,385 216,312 134,658 208,874 234,893 465,315 Other liabilities and accrued dividends 20,817 1,530 5,263 997 2,407 1,253 941 3,458 657 502 711 898 2,200 TOTAL LIABILITIES 51,360,071 2923^390 12,662,336 2911,607 4560,357 3366,115 2623,624 9070,920 2163,394 1076,597 2192,000 1944,649 5864,252 CAPITAL ACCOUNTS Capital paid in 319,932 16,404 92,114 20,474 30,396 14,645 15,070 43,327 10,973 7,104 12,882 17,752 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 ®yaer capital accounts 272,868 16,054 66,577 18,192 24,088 17,118 14,255 44,912 12,339 7,545 12,656 11,499 27,633 "TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,674,026 3000,526 13,024,173 3004,253 4678,410 3436,239 2684,552 9262,482 2214,876 1109,905 2245,435 2009,054 6oo4,l21_ Coating, liab., on acceptances purchased for foreign correspondents 50,401 2,985 2/ 14,273 3,643 4,6o4 2,581 2,226 7,084 1,923 1,265 1,923 2,581 5,313 Industrial loan commit. 2,454 81 142 103 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,589,760 1635,024 6,360,875 1803,440 2552,786 2147,308 1382,237 5263,889 1221,945 548,329 1079,065 764,731 2830,131 Collat. for F. R. notes: 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 Gold certificate acct. 11,568,000 Eligible paper 47,323 7,440 — — — — 16,050 — 23,833 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 28,750,323 1780*000 6*470*000 1857,440 2640,000 2195,000 1500,000 5400,000 1366,050 610,000 1123,833 808,000 3000,000 ]/ After deducting jnoo participations of other Federal Reserve Banks. 2/ After deducting $36,128,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis