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 15, 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 ban kreserves for the week ending November 14 decreased $8 million to $18,996 million .Estimated required reserves decreased $76 million; and estimated excess reserves increased $68 million to $643 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $299 million, compared with $253 millio nthe week before. The principal changes reducing average reserves were a decrease of $44 million in Federal Reserve float, and increases of $178 million in money in circulation, $52 million in "other deposits" with Federal Reserve Banks, and $37 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $116 million in Federal Reserve holdings of U, S. Government securities, and $114 million in member ban kborrowings, and a decrease of $55 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit increased $192 million. As of Wednesday, November 14, holdings of U. S. Government securities bought outright were $105 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $17 million lower, and member bank borrowings were $723 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 14, 1956 Nov. 7, 1956j Nov. 16, 1955" (In millions of dollars) ~ Reserve Bank credit: U. S. Government securities-- Bought outright--System account 23,882 +116 -136 Held under repurchase agreement 58 -- +8 Acceptances— Bought outright 20 -- +3 Held under repurchase agreement 8 +4 +8 Loans, discounts, and advances-- Member bank borrowings 942 +114 -231 Other 4 +3 + 3 Float 1,040 - 44 +27 Total Reserve Bank credit 25,954 +192 .318 Gold stock 21,910 + 1 +224 Treasury currency outstanding 5,056 +2 +48 52,919 +19? Money in circulation 31,141 +178 +347 Treasury cash holdings 773 - 8 - 1 Treasury deposits with F. R. Banks 446 - 55 -167 Foreign deposits with F. R. Banks 321 +37 - 79 Other deposits with F. R. Banks 397 + 52 -167 Other F. R. account s(net) 845 - 2 - 93 33,923 +202 7150 Member bank reserves-- 18,996 - 8 +113 Required reserves (estimated) 18,353 + 51 Excess reserves (estimated) 643 + 68 +62 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 775 Treasury currency outstanding 5,055 Member bank) - Required (est.) 18,376 Money in circulation 31,196 reserves ) - Excess (est.) 139 On November 14, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,625 million, a decrease of Digit$iz1ed0 5fo r FmRiAlSlEiRo n for the week and an increase of $85 million from the comparable date http:a//f rayseera.strlo uaisfgeod..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. 14, Nov. 7, Nov. 16, 1956 1956 1955 A SS E TS Gold certificate account 20,375,392 1,999 + 220,039 Redemption fund for F. R. notes 855,208 + 2,000 + 10,205 Total gold certificate reserves 21,230,600 + 1 + 230,244 F. R. notes of other Banks 271,427 - 11,600 + 28,967 Other cash 326,861 - 11,359 - 4,283 Discounts and advances 374,782 - 712,420 ~ 173,134 Industrial loans 809 - 64 + 135 Acceptances: Bought outright 20,084 + 534 + 3,910 Held under repurchase agreement 7,059 + 846 + 7,059 U. S. Government securities: Bought outright— Bills 1,015,520 105,300 - 250,026 Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 23,903,882 105,300 - 83,026 Held under repurchase agreement 41,600 17,000 + 41,600 Total U. S. Government securities 23,945,482 88,300 - 41,426 Total loans and securities 24,348,216 - 622,804 - 203,456 Due from foreign banks *" 22 Uncollected cash items 5,428,456 +1,068,990 - 534,276 Bank premises 72,276 + 462 + 11,904 Other assets 352,797 + 11,700 + 169,984 TOTAL ASSETS 52,030,655 + 435,390 - 300,916 L I A B I L I T I ES Federal Reserve notes 26,834,722 + 128,145 + 428,494 Deposits: Member bank reserves 18,515,277 - 355,396 - 142,509 U. S. Treasurer--general account 415,276 + 15,078 - 219,860 Foreign 341,554 + 51,706 - 41,912 Other 304,654 + 18,138 - 90,918 Total deposits 19,576,761 - 270,474 - 495,199 Deferred availability cash items 4,350,160 + 568,070 - 324,094 Other liabilities and accrued dividends 21,649 247 + 1,954 TOTAL LIABILITIES 50,783,292 + 425,494 - 388,845 C A P I T AL A C C O U N TS Capital paid in 320,830 206 + 20,934 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 205,378 +_ , 9,690 + 34,284 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,030,655 + 435,390 - 300,916 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45.7$ Contingent liability on acceptances purchased for foreign correspondents 51,874 580 25,193 Industrial loan commitments 2,176 __53~ 276 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 14, 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 369,451 r 12,528 305,550 16 days to 90 days 5,273 67 14,615 6,672,269 91 days to 1 year 58 452 14,165,913 Over 1 year to 5 years 289 373,279 1 Over 5 years to 10 years 1,013,614 DigitizOevd eforr FR1A0S EyRe ars 1,414,857 http://fraser.sTtolotuiasfeld .org/ 374,782 309 27,143 23,945,482 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDIT]C ON OF EACH FEDERA3j RESERVE BAMC ON NOVEMBER l34 , 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 20,375,392 973,926 5,028,061 1117,998 1907,257 1356,760 865,739 3675,508 877,044 382,197 818,737 701,390 2670,775 Redemption fund for F. R. notes 855,208 57,606 181,233 61,087 74,862 74,380 49,656 152,037 42,107 23,038 41,855 26.391 70,956 Total gold certificate reserves 21,230,600 1031,532 5,209,294 1179,085 1982,119 1431,140 915,395 3827,545 919,151 405,235 860,592 727,781 2741,731 F.R. notes of other Banks 271,427 23,010 51,858 34,856 9,974 13,497 44,143 22,926 8,696 8,285 8,411 20,542 25,229 Other cash 326,861 22,028 72,627 20,950 30,180 18,001 25,242 42,173 21,859 8,598 11,483 14,801 38,919 Discounts and advances 374,782 59,318 32,807 17,319 20,072 20,427 50,895 91,813 9,401 9,675 38,393 12,952 11,710 Industrial loans 809 300 464 45 Acceptances: Bought outright 20,084 20,084 Held under rep. agree. 7,059 7,059 U. S. Govt, securities: Bought outright— Bills 1,015,520 255,583 61,023 87,836 62,525 52,218 177,179 42,398 22,938 44,002 40,361 113,638 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 23,903,882 1313,901 6,016,081 1436,408 2067,519 1471,738 1229,114 4170,558 997,987 539,917 1035,755 950,036 2674,868 Held under rep. agree. 41,600 1^2. 600 *• — — — — — »• — «* — — — — Total U. S. Govt, sees. 23,945,482 1313,901 6,057,681 1436,408 2067,519 1471,738 1229,114 4170,558 997»987 539,917 1035,755 950,036 2674,868 Total loans & securities 24,348,216 1373,519 6,117,631 1454,191 2087,591 1492,165 1280,009 4262,371 1007,388 549,637 1074,148 962,988 2686,578 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,428,456 419,249 1,030,943 360,312 508,358 417,907 397,16? 968,527 230,595 139,148 236,966 226,037 493,247 Bank premises 72,276 5,346 9,264 4,826 7,879 7,171 3,963 5,897 4,191 4,833 4,242 3,638 11,026 Other assets 352,797 19,241 86,602 20,778 30,161 21,540 18,901 64,283 14,370 7,875 15,024 14,757 39,265 TOTAL ASSETS 52,030,655 2893,926 12,578,225 3075,000 4656,264 3401,422 2684,821 9193,725 2206,251 1123,612 2210,867 1970,545 6035,997 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 14, 1956 Total Boston New York | Richmond Atlanta Chicago Dallas j^ Fr ec0 L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 26,834,722 1587,623 6,192,802 1721,985 2510,716 2127,096 1331,037 5185,122 1192,271 492,444 1059,216 717,640 2716,770 Deposits: Member bank reserves 18,515,277 824,207 4,879,101 901,453 1557,382 833,563 907,315 2997,209 709,378 450,015 866,149 945,095 2644,410 U.S.Treas.-gen. acct. 415,276 27,636 35,391 30,176 35,406 27,279 46,291 46,426 26,752 24,872 28,166 36,098 50,783 Foreign 341,554 19,588 1/104,481 23,904 30,212 16,932 14,608 46,480 12,6l6 8,300 12,6l6 16,932 34,885 Other 304,654 4,574 225,087 9,558 896 3,274 3,051 1,514 7,873 796 1,340 3,387 43,304 Total deposits 19,576,761 876,005 5,244,060 965,091 1623,896 881,048 971,265 3091,629 756,619 483,983 908,271 1001,512 2773,382 Deferred availability cash items 4,350,160 355,781 792,316 298,738 407,650 326,130 323,483 734,795 207,753 114,678 192,829 187,619 408,388 Other liabilities and accrued dividends 21,649 1,011 5,918 1,102 2,103 l,l6l 1,066 3,630 847 603 904 1,007 2,297 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 50,783,292 2820,420 12,235,096 2986,916 4544,365 3335,435 2626,851 9015,176 2157,490 1091,708 2161,220 1907,778 5900,837 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 320,830 16,439 92,288 20,493 30,442 14,661 15,334 43,349 10,981 7,104 12,901 17,911 38,927 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 777))) 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 SSSuuurrrpppllluuusss (((SSSeeeccctttiiiooonnn 111333bbb))) 27,543 3,011 7,319 4,489 1,006 3,349 762 1,429 521 1,073 1,137 1,307 2,l4o OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 205,378 12,389 47,695 13,611 17,888 12,965 11,033 31,877 9,610 6,141 9,649 9,702 22,818 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 52,030,655 2893,926 12,578,225 3075,000 4656,264 3401,422 2684,821 9193,725 2206,251 1123,612 2210,86? 1970,545 6035,997 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 51,874 3,062 2/l4,8l8 3,737 4,723 2,647 2,284 7,266 1,972 1,297 1,973 2,646 5,449 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 2.176 -- -- i4 i4o -- -- 102 - - -- l, 920 — — FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 27,747,756 1639,527 6,424,572 1811,464 2566,676 2172,057 1383,013 5282,186 1232,725 545,687 1082,231 765,045 2842,573 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,668,000 580,000 2,970,000 650,000 1090,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 64,817 17,175 -- -- **- -- 9,325 — 38,317 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,135,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 3100,000 900,000 46o,ooo 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 28,867,817 1780,000 6,570,000 1867,175 2640,000 2245,000 1450,000 5400,000 1359,325 610,000 1138,317 808,000 3000,000 1/ After deducting $237,048,000 partiL cipations of other Federa lReserve Banks. 2/ After deducting $37,056,000 partiL cipations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis