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 8, 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 November 7 increased $194- million to $19,004 million. Estimated required reserves increased $10 million; and estimated excess reserves increased $184 million to $574 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $254 million, compared with $284 million the week before. The principal changes supplying average reserves were increases of $154 million in member bank borrowings ,$116 million in Federal Reserve holdings of U. S. Government securities, and $22 million in Federal Reserve float, and decreases of $78 million in "other" F. R. accounts (net) and $38 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $170 million in money in circulation an d$53 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit increased $296 million. As of Wednesday, November 7, holdings of U. S. Government securities bought outright were $110 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $20 million lower, and member bank borrowings were $548 million higher. Member bank reserves, Reserve Bank credit, FFoorr wweeeekk eennddiinngg Change from week ending and related items NNoovv.. 77,, 11995566 Oct. 31, 195&I Nov. 9, 1955 (In m3L llions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,766 + 98 -258 Held under repurchase agreement 58 + 18 + 58 Acceptances-- Bought outright 20 + 1 + 2 Held under repurchase agreement 4 + 3 + 4 Loans, discounts, and advances— Member bank borrowings 828 +154 -315 Other Float 1,084 + 22 +308 Total Reserve Bank credit 25,762 +2 96 -201 Gold stock 21,909 - - +223 Treasury currency outstanding 5,054 + 3 + 45 •) 52,725 +299 + 6l Money in circulation 30,964* +170 +307 Treasury cash holdings p 781 + 7 Treasury deposits with F. R. Banks 501 - 38 - 70 Foreign deposits with F. R. Banks 284 - 1 -100 Other deposits with F. R. Banks 345 + 53 - 88 Other F. R. accounts (net) 847 - 78 - 92 33,721 +105 - 38 Member bank reserves-- 19,004 +194 +105 Required reserves (estimated) 18,430 + 10 + 87 Excess reserves (estimated) 574 +184 + 18 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: jp ' Gold stock dnP21,9te-CP^ Treasury cash holdings /> 77# Treasury currency outstanding 5,055 Member bank) - Required (est.) 18,367 Money in circulation g_j)31,046 'X reserves ) - Excess (est.) 504 < On November 7, 195&, U. S. Government securities held In custody by the Federal Reserve Banks for foreign account were $3,730 million, a decrease of Digit$iz5ed2 f orm FiRlAlSiEoRn for the week and an increase of $176 million from the comparable date http:a//f rayseera.srtlo uaisgfeod..or 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 Nov. 7, Oct. 31, Nov# 9, 1956 1956 1955 A S S E TS Gold certificate account 20,377,391 + 10,000 206,039 Redemption fund for F. R. notes 853,208 - 2,537 + 21,049 Total gold certificate reserves 21,230,599 + 7,463 + 227,088 F. R. notes of other Banks 283,027 - 48,433 + 61,722 Other cash 338,220 - 20,745 19,739 Discounts and advances 1,087,202 + 548,856 - 114,085 Industrial loans 873 + 6 + 204 Acceptances: Bought outright 19,550 + 510 + 2,100 Held under repurchase agreement 6,213 5,343 + 6,213 U. S. Government securities: Bought outright— Bills 910,220 + 110,200 392,326 Certificates 10,932,699 +8,, 412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 mmm Total bought outright 23,798,582 + 110,200 - 225,326 Held under repurchase agreement 58,600 20,400 + 58,600 Total U. S. Government securities 23,857,182 + 89,800 - 166,726 , Total loans and securities 24,971,020 + 644,515 272,294 Due from foreign banks 22 — •» Uncollected cash items 4,359,466 - 391,462 + 410,944 Bank premises 71,814 - 7 + 12,094 Other assets 341,097 + 13,200 + 166,334 TOTAL ASSETS 51,595,265 + 204,531 + 625,627 L I A B I L I T I ES Federal Reserve notes 26,706,577 + 139,485 + 294,001 Deposits: Member bank reserves 18,870,673 + 202,996 + 317,006 U. S. Treasurer—general account 400,198 - 94,583 - 216,373 Foreign 289,848 + 14,708 - 109,859 Other 286,516 - 10,353 - 101,912 Total deposits 19,847,235 + 112,768 - 111,138 Deferred availability cash items 3,782,090 - 58,891 + 357,335 Other liabilities and accrued dividends 21,896 +_ 1,351 + 886 TOTAL LIABILITIES 50,357,798 + 194,713 + 541,084 C A P I T AL A C C O U N TS Capital paid in 320,624 254 + 20,869 Surplus (Section 7) 693,612 + 32,711 Surplus (Section. 13b) 27,543 Other capital accounts 195,688 t5 64 +_ -m TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,595,265 + 204,531 + Ratio of gold certificate reserves to deposit .2$ and F. R. note liabilities combined 45.6% Contingent liability on acceptances purchased for foreign correspondents 52,454 240 23,622 Industrial loan commitments 2,229 7 409 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 7, 1956 tAcceptances 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 1,065,490 1 11,079 ' 134,600 16 days to 90 days 20,712 66 14,684 6,754,919 91 days to 1 year 1,000 517 — 14,165,913 Over 1 year to 5 years -- 289 -- 373,279 Over 5 years to 10 years -- -- -- 1,013,614 DigitizedO vfoer FrR A1S0E Ry ears -- — -- 1,414,857 http://fraser.stlouisfed.org/ Total 1,087,202 E73 25,763 23,857,182 Federal Reserve Bank of St. Louis

6.4.1(b) STATEMENTt OF COHDITC]O N OF EACH FEDERA]U RESERVE BANK ON NOVEMBER 7, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta J Chicago Dallas delphia land Louis apolis City Francisco (In thousands of dollars) A S S E TS Gold certificate account 20,377,391 970,051 5,337,464 1077,990 1881,410 1396,707 846,999 3573,118 836,294 352,421 811,671 701,446 2591,820 Redemption fund for F. R. notes 853,208 57,606 181,233 59,087 74,862 74,380 49,656 152,037 42,107 23,038 41,855 26,391 70,956 Total gold certificate reserves 21,230,599 1027,657 5,518,697 1137,077 1956,272 1471,087 896,655 3725,155 878,401 375,459 853,526 727,837 2662,776 F.R. notes of other Banks 283,027 27,223 48,326 42,634 13,847 13,276 45,975 19,502 7,574 9,775 6,143 19,368 29,384 Other cash 338,220 25,273 74,897 21,930 31,635 17,699 26,006 42,668 21,361 9,607 11,123 14,861 41,160 Discounts and advances 1,087,202 18,559 417,786 72,097 42,431 34,361 68,829 303,655 25,038 4,825 59,415 18,901 21,305 Industrial loans 873 300 528 45 Acceptances: Bought outright 19,550 19,550 Held under rep. agree. 6,213 6,213 U. S. Govt, securities: Bought outright— Bills 910,220 50,031 229,081 54,696 78,728 56,042 46,803 158,807 38,002 20,560 39,439 36,176 101,855 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 23,798,582 1308,113 5,989,579 1430,001 2058,411 1465,255 1223,699 4152,106 993,591 537,539 1031,192 945,851 2663,085 Held under rep. agree. 58,600 58,600 Total U.S. Govt, sees. 23,857,182 1308,113 6,048,179 1430,081 2058,411 1465,255 1223,699 4152,186 993,591 537,539 1031,192 945,851 2663,085 Total loans & securities 24,971,020 1326,972 6,491,728 1502,706 2100,842 1499,616 1292,528 4455,841 1018,629 542,409 1090,607 964,752 2684,390 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 11 2 Uncollected cash items 4,359,466 369,094 7567287 287,242 393,690 348,485 343,123 699,627 205,626 139,533 199,910 208,642 408,207 Bank premises 71,814 5,346 8,990 4,826 7,876 7,171 3,963 5,897 4,177 4,721 4,242 3,579 11,026 Other assets 341,097 18,497 83,924 20,074 29,500 20,694 18,302 62,102 13,927 7,561 14,446 14,249 37,821 TOTAL ASSETS 51,595,265 2800,063 12,982,855 3016,491 4533,664 3378,029 2626,553 9010,795 2149,696 1089,066 2179,998 1953,289 5874,766 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 NOVEMBER 7, 1956 Total Boston New York Richmond Atlanta | M=ago ^ % %= Dallas C LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (in thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 26,706,577 1568,078 6,156,970 1716,446 2496,321 2122,644 1328,599 5158,101 1190,009 492,329 1057,281 715,573 2704,226 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 18,870,673 802,503 5,452,160 886,291 1549,108 809,505 914,#9 2944,267 685,209 423,875 863,139 955,929 2584,058 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 400,198 41,957 37,126 30,885 35,248 27,783 41,166 45,803 18,364 26,374 33,975 27,768 33,749 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 289,848 15,989 1/ 96,329 19,512 24,661 13,821 11,924 37,940 10,298 6,775 10,298 13,821 28,480 OOOOOttttthhhhheeeeerrrrr 286,516 3,268 ~ 206,464 10,062 1,329 3,412 3,688 701 6,779 827 3,776 3,782 42,428 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 19,847,235 863,717 5,792,079 946,750 1610,346 854,521 971,407 3028,711 720,650 457,851 911,188 1001,300 2688,715 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,782,090 294,198 687,026 264,654 313,565 334,421 268,086 643,361 189,851 106,485 161,528 173,320 345,595 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 21,896 1,042 6,320 1,147 2,338 1,014 964 3,897 765 691 764 829 2,125 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 50,357,798 2727,035 12,642,395 2928,997 4422,570 3312,600 2569,056 8834,070 2101,275 1057,356 2130,76! 1891,022 5740,661 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 320,624 16,434 92,285 20,473 30,440 14,651 15,334 43,339 10,981 7,106 12,893 17,761 38,927 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 77777))))) 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 SSSSSuuuuurrrrrpppppllllluuuuusssss (((((SSSSSeeeeeccccctttttiiiiiooooonnnnn 1111133333bbbbb))))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,140 OOOOOttttthhhhheeeeerrrrr cccccaaaaapppppiiiiitttttaaaaalllll aaaaaccccccccccooooouuuuunnnnntttttsssss 195,688 11,916 45,029 13,041 17,085 12,417 10,560 30,063 9,270 5,945 9,247 9,352 21,763 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 51,595,265 2800,063 12,982,855 3016,491 4533,664 3378,029 2626,553 9010,795 2149,696 1089,066 2179,998 1953,289 5874,766 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 52,454 3,097 2/ 14,969 3,780 4,778 2,677 2,310 7,350 1,995 1,313 1,995 2,677 5,513 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2.229 — —— 67 liiO —— —— 102 —— 1.020 — —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,594,452 1626,812 6,359,761 1797,585 2566,270 2162,387 1376,079 5259,135 1235,748 546,069 1081,246 759,320 2824,040 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,518,000 580,000 2,870,000 650,000 1090,000 895»ooo 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 156,402 —— —— 72,025 —» 25,000 — 59,377 —— —— 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 28,809,402 1780,000 6,470,000 1922,025 2640,000 2195,000 1450,000 5400,000 1375,000 610,000 1159,377 808.000 3000.000 1/ After deducting $193,4$&,000 partiL cipations of other Federal Reserve Banks. 2/ After deducting $37,485,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis