H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM November 1, 1956 WEEKLY AVERAGES OF MEMBER BAM 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 31 decreased $327 million to $18,810 million. Estimated required reserves decreased $114 million; and estimated excess reserves decreased $213 million to $383 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $291 million; the week before they were $3 2million less than excess reserves. The principal changes reducing average reserves were decreases of $485 million in Federal Reserve float and $28 million in Federal Reserve holdings of U. S. Government securities, and an increase of $34 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were an increase of $110 million in member bank borrowing sand a decrease of $70 million in money in circulation. Total Reserve Bank credit decreased $400 million. As of Wednesday, October 31; holdings of U. S. Government securities bought outright were $5 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $79 million higher, and member bank borrowings were $300 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Oct. 31, 1956 Oct. 24, 1956 I Nov. 2, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 23,668 - 68 -327 Held under repurchase agreement 40 + 40 + 40 Acceptances— Bought outright 19 «• ee + 2 Held under repurchase agreement 1 + 1 + 1 Loans, discounts, and advances— Member bank borrowings 674 +110 -269 Other 1 Float 1,062 -485 +269 Total Reserve Bank credit 25,466 -4oo -282 Gold stock 21,909 +223 Treasury currency outstanding 5,051 + 3 + 42 52,426 -398 - 17 Money in circulation 30,794^ - 70 +266 n Treasury cash holdings 78^0 + 4 + 9 Treasury deposits with F. R. Banks 539 + 34 + 39 Foreign deposits with F. R. Banks 285 - 8 -123 Other deposits with F. R. Banks 292 + 1 - 93 Other F. R. accounts (net) 925 - 31 - 26 33,616 - 71 + 72 Member bank reserves— 18,810 -327 - 88 TT Required reserves (estimated) 16,427 -lit Excess reserves (estimated) 383 -213 - 94 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 21,909 Treasury cash holdings 785 Treasury currency outstanding 5,053 Member bank) - Required (est.) 18,434 Money in circulation 30,830 reserves ) - Excess (est.) 234 On October 31* 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,782 million, an increase of $21 million for the week and an increase of $263 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 FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Oct. 31, Oct. 24, Nov, 2, 1956 1956 1??? A S S E TS Gold certificate account 20,367,391 + 194,040 Redemption fund for F. R. notes 855,745 + 22,451 Total gold certificate reserves 21,223,136 + 216,491 F. R. notes of other Banks 331,460 22,247 + 72,684 Other cash 358,965 1,130 + 13,892 Discounts and advances 538,346 300,138 - 646,906 Industrial loans 867 10 + 305 Acceptances; Bought outright 19,040 + 1,040 + 2,158 Held under repurchase agreement 870 + 870 + 870 U. S. Government securities: Bought outright— Bills 800,020 5,000 - 502,526 Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 23,688,382 + 5,000 - 335,526 Held under repurchase agreement 79,000 +_ 79,000 + 79.000 Total U. S. Government securities 23,767,382 + 84,000 - 256,526 Total loans and securities 24,326,505 - 214,238 - 900,099 Due from foreign banks 22 Uncollected cash items 4,750,928 - 136,355 + 282,619 Bank premises 71,821 35 + 12,234 Other assets 327,897 + 11,29; + 161,752 TOTAL ASSETS 51,390,734 - 363,49 - 140,427 L I A B I L I T I ES Federal Reserve notes 26,567,092 31,658 + 332,868 Deposits: Member bank reserves 18,667,677 265,201 - 482,910 U. S. Treasurer--general account 494,781 111,696 40,68l Foreign 275,140 1,589 - 111,741 Other ^ 8 69 1,065 - 85,212 Total deposits 19,734,467 - 379,551 - 720,544 Deferred availability cash items 3,840,981 + 80,987 + 164,404 Other liabilities and accrued dividends 20,545 340 + 1,157 TOTAL LIABILITIES 50,163,085 - 267,246 - 222,115 C A P I T AL A C C O U N TS Capital paid"in ~ 320,370 121 + 21,042 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 186,124 - 96,369 + 27,935 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,390,734 - 363,494 - 140,427 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.8% .3# Contingent liability on acceptances purchased for foreign correspondents 52,694 721 25,559 Industrial loan commitments 2,236 198 509 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, OCTOBER 31, 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 534,694 1 6,612 220,020 16 days to 90 days 3,652 65 13,298 6,579,699 91 days to 1 year 512 14,165,913 Over 1 year to 5 years 289 373,279 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER 1,414,857 http://fraseTr.sotltouaislfe d.org/ 538,346 m 19,910 23,767,382 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF C0NDIT3C ON OF EACH FEDERA] RESERVE BANK ON OCTOBER 31L , 1956 Phila- 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 TS Gold certificate. account 20,367,391 963,742 5,438,568 1049,456 1905,079 1334,498 826,868 3618,957 821,497 365,358 812,397 699,881 2531,090 Redemption fund for F. R. notes 855,745 57,738 181,782 59,316 75,079 75,097 49,776 152,273 42,191 23,056 41,916 26,435 71,086 Total gold certificate reserves 21,223,136 1021,480 5,620,350 1108,772 1980,158 1409,595 876,644 3771,230 863,688 388,414 854,313 726,316 2602,176 F.R. notes of other Banks 331,460 29,344 60,232 53,558 17,420 14,506 47,955 25,666 10,293 14,193 6,581 19,584 32,128 Other cash 358,965 26,764 83,118 23,712 34,430 17,632 26,907 45,592 21,398 9,037 11,769 16,201 42,405 Discounts and advances 538,346 18,365 38,725 41,365 21,010 37,710 59,532 196,605 21,225 13,150 34,209 29,750 26,700 Industrial loans 867 300 522 -- — -- — — 45 -- — -- Acceptances: Bought outright 19,040 19,040 Held under rep. agree. 870 870 U. S. Govt, securities: Bought outright— Bills 800,020 43,974 201,347 48,073 69,196 49,257 41,137 139,580 33,401 18,070 34,665 31,796 89,524 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 63.283 121.400 111.353 313.518 Total 23,688,382 1302,056 5,961,845 1423,458 2048,879 1458,470 1218,033 4132,959 988,990 535,049 1026,418 941,471 2650,754 Held under rep. agree. 79.000 Total U. S. Govt, sees. 23,767,382 1302.056 6.040.845 1423.458 2048.879 1458.470 1218.033 4132.959 988.990 535.049 1026.418 941.471 2650.754 Total loans & securities 24,326,505 1320,721 6,099,480 1465,345 2069,889 1496,180 1277,565 4329,564 1010,215 548,244 1060,627 971,221 2677,454 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,750,928 398,618 868,031 292,435 463,363 365,541 329,286 787,821 216,136 126,080 221,521 230,226 451,870 Bank premises 71,821 5,346 8,990 4,826 7,876 7,171 3,963 5,897 4,177 4,721 4,249 3,57? 11,026 Other assets 327,897 17,793 80,789 19,275 28,235 19,820 17,606 59,667 13,390 7,275 13,886 13,714 36,447 TOTAL ASSETS 51,390,734 2820,067 12,820,996 2967,925 4601,373 3330,446 2579,927 9025,440 2139,298 1097,965 2172,947 1980,842 5853,508 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 C0NDIT1C ON OF EACH FEDERA] RESERVE BANK ON OCTOBER 31L , 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 26,567,092 1562,637 6,109,110 1714,332 2488,252 2108,300 1321,636 5137,780 1185,097 492,482 1050,796 713,155 2683,515 Deposits: Member bank reserves 18,667,677 811,590 5,314,704 877,478 1559,457 805,861 873,050 2985,621 675,443 432,458 841,581 948,381 2542,053 U.S.Treas.-gen. acct. 494,781 37,211 88,344 39,766 45,104 36,107 29,639 58,070 34,627 25,301 39,672 39,062 21,878 Foreign 275,1^0 15,753 1/ 84,477 19,224 24,297 13,617 11,748 37,380 10,146 6,675 10,146 13,617 28,060 Other 296,869 3,385 " 207,507 9,893 1,659 2,581 3,368 1,677 10,385 1,855 3,800 3,960 46,799 Total deposits 19,734,467 867,939 5,695,032 946,361 1630,517 858,166 917,805 3082,748 730,601 466,289 895,199 1005,020 2638,790 Deferred availability cash items 3,840,981 315,995 673,528 219,254 369,980 298,243 282,522 626,311 174,840 107,138 177,449 200,056 395,665 Other liabilities and accrued dividends 20,545 960 5,461 1,055 2,324 888 wu y9\6j4* t3,644 r .. 698 534 743 686 vmw 2*, 588 TOTAL LIABILITIES 50,163,085 2747,531 12,403,131 2881,002 4491,073 3265,597 2522,927 8850,483 2091,236 1066,443 2124,187 1918,917 5720,558 CAPITAL ACCOUNTS ^Capital paid in 320,370 16,404 92,201 20,473 30,434 14,651 15,316 43,351 10,979 7,106 12,893 17,755 38,807 Smqilus (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,l4o Other capital accounts 186,124 11,454 42,518 12,470 16,297 11.837 10,081 28,283 8,913 5,757 8,770 9,016 20,728 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,390,734 2820,067 12,820,996 2967,925 4601,373 3330,446 2579,927 9025,440 2139,298 1097,965 2172,947 1980,842 5853,508 Costing, liab. on acceptances purchased for foreign correspondents 52,694 3,109 2/ 15,067 3,794 4,796 2,688 2,319 7,377 2,003 1,318 2,003 2,687 5,533 140 FEDERAL RESERVE AGENTS* ACCOUNTS FF..~~TTRR.. nnootteess oouuttssttaannddiinngg 27,543,767 1628,187 6,355,572 1796,882 2544,420 2155,033 1375,190 5248,926 1239,246 546,495 1080,167 758,673 2814,976 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 83,799 —— — — 28,365 —— —— —— —— 21,225 —— 34,209 —— —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 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 TToottaall ccoollllaatteerraall 28.786.799 1780.000 6.470.000 1878.365 2640.000 2195.000 1500.000 5400.000 1171.225 610,000 1134,209 808,000 3000,000 l/ After deducting $190,638,000 participations of other Federal Reserve Banks. 2/ After deducting $37,627,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis