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 25, 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 24 increased $247 million to $19,137 million. Estimated required reserves increased $222 million; and estimated excess reserves increased $25 million to $596 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $32 million; the week before they were $143 million less than member bank borrowings. The principal changes supplying average reserves were an increase of $332 million in Federal Reserve float, and decreases of $138 million in "other" deposits with Federal Reserve Banks, $89 million in money in circulation, and $80 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $150 million in member bank borrowings and $124 million in Federal Reserve holdings of U. S. Government securities, and an increase of $117 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $56 million. As of Wednesday, October 24, holdings of U. S. Government securities bought outright were $177 million lower than a week earlier and member bank borrowings were $387 million higher. Member bank reserves, Averages of dally figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 24-, 1956 Oct. 17, 19561 Oct. 26, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,736 -110 -237 Held under repurchase agreement -- - 14 Acceptances—bought outright 19 — +1 Loans, discounts, and advances-- Member bank borrowings 564 -150 -197 Other 1 -- - 9 Float 1,547 +332 +562 Total Reserve Bank credit 25,866 + 56 +119 Gold stock 21,909 - 1 +224 Treasury currency outstanding 5,048 +1 +39 52,824 +™5g +3B3 Money in circulation 30,864 - 89 +366 Treasury cash holdings 777 + 2 - l Treasury deposits with F. R. Banks 505 +117 + 9 Foreign deposits with F. R. Banks 293 - 80 - 88 Other deposits with F. R. Banks 291 -138 - 96 Other F. R. accounts (net) 956 - 2 - 54 33,687 -189 +137 Member bank reserves-- 19,137 +247 +246 Required reserves (estimated) 18,541 +222 +io5 Excess reserves (estimated) 596 + 25 +138 For Wednesday Federal Reserve figures see STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVES BANKS COMBINED - attached. Latest Wednesday figures for other items appearing above are, in millions of dollars: Gold stock 21,909 Treasury cash holdings 785 Treasury currency outstanding 5,049 Member bank) - Required (est.) 18 455 Money in circulation 30,771 reserves ) - Excess (est.) 'k65 On October 24, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,761 million, an increase of Digitiz$e9d0 fo r mFiRAlSlEiRo n for the week and an increase of $279 million from the comparable date http://afr asyeer.satlro uiasfgedo.o.r 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. 24, Oct. 17, Oct. 26, 19^6 1956 1955 A S S E TS Gold certificate account 20,367,392 5,999 + 194,039 Redemption fund for F. R. notes 858,792 + 10,905 + 25,452 Total gold certificate reserves 21,226,184 + 4; 906 + 219,491 F. R. notes of other Banks 353,707 + 22,410 + 75,865 Other cash 357,835 + 8,054 + 5,374 Discounts and advances 838,484 + 386,620 - 187,916 Industrial loans 877 + 17 + 216 Acceptances—bought outright 18,000 — 722 + 843 U. S. Government securities: Bought outright— . Bills 795,020 176,550 456,726 Certificates 10,932,699 -- +8 .412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 — — *» mm Total bought outright 23,683,382 - 176,550 - 289,726 Held under repurchase agreement Total U. S. Government securities 23,683,382 176,550 - 289,726 Total loans and securities 24,540,743 + 209,365 • 476,583 Due from foreign banks 22 -- — — Uncollected cash items 4,887,283 -1,175,054 + 613,698 Bank premises 71,856 + 282 + 12,238 Other assets 316,598 + 10,239 + 158,520 TOTAL ASSETS 51,754,228 - 919,798 + 608,603 L I A B I L I T I ES Federal Reserve notes 26,535,434 - 74,668 + 374,254 Deposits: Member bank reserves 18,932,878 + 8,696 2,074 U. S. Treasurer—general account 606,477 + 182,990 + 112,781 Foreign 276,729 - 64,150 - 130,322 Other 297,934 + 4,886 • 80,849 Total deposits 20,114,018 + 132,422 • 100,464 Deferred availability cash items 3,759,994 - 987,562 + 216,924 Other liabilities and accrued dividends 20,885 + 68 646 TOTAL LIABILITIES 50,430,331 929,740 + 491,360 C A P I T AL A C C O U N TS Capital paid in 320,249 + 317 + 21,289 Surplus (Section 7) 693,612 — •» 32,711 Surplus (Section 13b) 27,543 «n* Other capital accounts 282,493 + 9,625 + 63,243 51,754,228 - 919,798 608,603 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.5# + .2$ Contingent liability on acceptances purchased for foreign correspondents 53,415 + 3,014 + 25,480 Industrial loan commitments 2,434 - 20 - 384 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. OCTOBER 24, 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 832,722 1 5/751 194,020 16 days to 90 days 5,762 65 11,249 6,521,699 91 days to 1 year 522 14,165,913 Over 1 year to 5 years 289 373,279 Over 5 years to 10 years 1,013,614 Over 10 years 1^14,857 Total 838,484 Wf 18,000 23,683,382 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

HA,1(b) STATEMENT OP CONDITION OF EACH FEDERAL RESERVE BANK ON OCTOBER 24, 1956 Phi la Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E T S Gold certificate account 20,367,392 975,707 5,376,023 1048,198 1863,974 1355,206 847,865 3496,021 857,915 374,253 826,138 719,498 2626,594 Redemption fund for F. R. notes 858,792 57.918 182.411 59,6l8 75.364 75,864 49,919 152.621 42.269 23.082 41.978 26.492 71.236 Total gold certificate reserves 21,226,184 1033,625 5,558,454 1107,816 1939,338 1431,070 897,784 3648,642 900,184 397,335 868,116 745,990 2697,830 F.R. notes of other Banks 353,707 31,240 67,224 53,147 15,376 19,405 47,884 26,235 10,358 13,703 11,060 23,395 34,680 Other cash 357,835 26,507 62,892 23,431 33,288 17,162 28,491 46,557 20,981 8,936 12,299 13,341 43,950 Discounts and advances 838,484 3,715 178,025 31,205 62,330 41,810 75,332 303,250 24,625 15,290 31,534 24,968 46,400 Industrial loans 877 300 532 45 Acceptances— 18,000 18,000 Bought outright U. S. Govt, securities: Bought outright— Bills 795,020 43,699 200,088 47,773 68,764 48,949 40,880 138,708 33,192 17,958 34,448 31,597 88,964 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 2.801.750 154.001 705.139 168.360 242.132 172.501 144.063 488.827 116.973 63.283 121.400 111.353 313.518 Total 23,683,382 1301,781 5,960,586 1423,158 2048,447 1458,162 1217,776 4132,087 988,781 534,937 1026,201 941,272 2650,194 Held under repurchase agreement Total U. S. Govt, sees. 23,683,382 1301,781 5.960,586 1423,158 2048,447 1458,162 1217,776 4132,087 988.781 534,937 1026,201 941,272 2650,194 Total loans & securities 24,540,743 1305,796 6,156,611 1454,895 2110,777 1499,972 1293,108 4435,337 1013,406 550,272 1057,735 966,240 2696,594 Due from foreign banks 22 1 1 /6 2 2 1 1 3 1 1 1 12 Uncollected cash items 4,887,283 431,930 899,512 283,910 425,525 398,341 352,526 779,492 216,877 133,780 252,580 259,612 453,198 Bank premises 71,856 5,319 9,013 4,826 7,881 7,191 3,974 5,916 4,198 4,723 4,237 3,581 10,997 Other assets 316,598 17,082 78,395 18,539 27,130 19,200 17,046 57,186 12,887 7,053 13,397 13,514 35,169 TOTAL ASSETS 51,754,228 2851,500 12,852,107 2946,566 4559,317 3392,342 2640,814 8999,368 2178,892 1115,803 2219,425 2025,674 5972,420 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 OH OCTOBER 24•,f 1.9 5 , 6 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 26,535,434 1568,292 6,088,846 1714,466 2490,827 2093,985 1314,513 5143,445 1181,228 494,044 1048,901 715,476 2681,4u Deposits: Member bank reserves 18,932,878 863,900 5,417,416 883,940 1515,671 833,714 910,061 2927,706 705,779 426,736 864,296 964,515 2619,144 U.S.Treas.-gen. acct. 606,477 36,226 71,710 36,577 43,717 62,548 37,533 83,555 44,340 37,781 36,930 44,897 70,663 Foreign 276,729 15,635 1/ 87,494 19,080 24,115 13,515 11,660 37,100 10,070 6,625 10,070 13,515 27,850 Other 297,934 4,082 216,362 11,176 1,047 3,436 1,532 1,151 7,647 1,915 3,721 5,238 40,627 Total deposits 20,114,010 919,043 5,792,9«2 950,773 1504,550 913,213 960,786 3049,512 767,836 473,057 915,017 1025,165 2750,284 Deferred availability cash items 3,759,994 284,829 600,528 187,169 362,841 313,491 302,975 609,026 177,250 114,316 201,689 216,310 389,570 Other liabilities and accrued dividends 20,885 934 5,362 954 2,177 963 917 4,042 675 873 737 96l 2,290 TOTAL LIABILITIES 50,430,331 2773,098 12,457,710 2853,362 4440,395 3321,652 2579,191 8006,025 2126,909 1082,290 2166,344 1960,912 5031,555 CAPITAL ACCOUNTS Capital paid in 320,249 l6,4o4 92,161 20,477 30,396 14,645 15,312 43,345 10,976 7,106 12,882 17,752 38,793 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 33,84? 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,l4o Other capital accounts 282,493 16,520 69,082 18,747 24,957 17,684 14,708 46,675 12,757 7,748 13,102 11,856 28,657 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,754,228 2851,500 12,852,107 2946,566 4559,317 3392,342 2640,814 8999,368 2178,892 1115,803 2219,425 2025,674 5972,420 Conting. liab. on acceptances purchased for foreign correspondents 53,415 3,151 2/ 15,287 3,845 4,860 2,723 2,350 7,476 2,029 1,335 2,029 2,723 5,607 Industrial loan commit. 2,434 63 140 103 2,128 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,561,478 1637,059 6,341,055 1799,636 2550,862 2155,668 1374,333 5256,210 1236,756 547,206 1078,848 760,429 2823,416 Collat. for F. R. notes: Gold certificate acct. 11,568,000 580,000 2,870,000 650,000 1090,000 895,000 500,00b 2300,000 450,000 150,000 300,000 283,000 1500,000 Eligible paper 77,364 —- - - 21,205 — -- -- — 24,625 •• 31,534 — ~— 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|7801364 1780,000 6,470,000 1871,205 2640,000 2195,000 1500,000 5400,000 1374,625 610,000 1131,534 000,000 3000,000" 1/ After deducting $189,210,000 participations of other Federal Reserve Banks. 2/ After deducting $38,128,000 participations of other Federal Reserve Banks, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis