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 23, 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 21 increased $315 million to $19,311 million. Estimated required reserves increased $233 million; and estimated excess reserves increased $82 million to $691 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $31 million; the week before they were $333 million less than member bank borrowings. The principal changes supplying average reserves were increases of $503 million in Federal Reserve float and $93 million in Federal Reserve holdings of U. S. Government securities, and a decrease of $105 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $28,2 million in member bank borrowings and an increase of $128 million in money in circulation. Total Reserve Bank credit increased $312 million. As of Wednesday, November 21, holdings of U. S. Government securities bought outright were $164 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $33 million higher, and member bank borrowings were $231 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 21, 1956 Nov. 14, 19561 Nov. 23, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright--System account 23,959 + 77 +71 Held under repurchase agreement 74 + l6 + 74 Acceptances- Bought outright 20 — +3 Held under repurchase agreement 7 - 1 +7 Loans, discounts, and advances- Member bank borrowings 660 -282 -151 Other 3 - 1 - 3 Float 1,543 +503 + 57 Total Reserve Bank credit 26/2SE +312 + 58 Gold stock 21,910 -- +223 Treasury currency outstanding 5,055 1 +47 53,231 +312 +325 Money in circulation 31,269 +128 +445 Treasury cash holdings 771 - 2 - 12 Treasury deposits with F. R. Banks 441 - 5 - 91 Foreign deposits with F. R. Banks 303 - 18 - 92 Other deposits with F. R. Banks 292 -105 -107 Other F. R. accounts (net) 844 - l - 91 33,920 - 3 +53 Member bank reserves- 19,311 +315 +275 Required reserves (estimated) 18,620 +233 +152 Excess reserves (estimated) 691 + 82 +123 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 769 Treasury currency outstanding 5,055 Member bank) - Required (est.) 18,701 Money in circulation 31,380 reserves ) - Excess (est.) 589 On November 21, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,566 million, a decrease of Digitiz$ed5 f9o r FmRiAlSlEiRo n for the week and an increase of $24 million from the comparable date http://fara syere.satloru isafegdo.o.r g/ Federal Reserve Bank of St. Louis

R.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Nov. 21, Nov. 14, Nov. 23, 1956 1956 1955 A S S E TS Gold certificate account 20,369,392 6,000 + 231,039 Redemption fund for F. R. notes 861,209 6,001 5,793 Total gold certificate reserves 21,230,601 1 + 225,246 F. R. notes of other Banks 257,857 13,570 + 32,868 Other cash 325,785 1,076 + 2,632 Discounts and advances 595,408 220,626 - 200,489 Industrial loans 807 2 + 74 Acceptances: Bought outright 21,084 1,000 + 4,103 Held under repurchase agreement 3,857 3,202 + 3,857 U. S. Government securities: Bought outright— Bills 1,179,720 164,200 + 12,874 Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 24,068,082 + 164,200 + 179,874 Held under repurchase agreement 75,000 +_ 33,400 + 75,000 Total U. S. Government securities 24,143,082 + 197,600 + 254,874 Total loans and securities 24,764,238 416,022 + 62,419 Due from foreign banks 22 Uncollected cash items 5,747,592 + 319,136 + 996,797 Bank premises 72,930 + 654 + 12,500 Other assets 364,685 + 11,888 + 174,017 TOTAL ASSETS 52,763,710 733,055 +1,506,479 L I A B I L I T I ES Federal Reserve notes 26,997,832 + 163,110 + 417,974 Deposits: Member bank reserves 19,290,021 + 774,744 + 757,197 U. S. Treasurer—general account 391,779 - 23,497 - 87,088 Foreign 300,158 - 41,396 - 104,045 Other 279,052 - 25,602 - 100,771 Total deposits 20,261,010 + 684,249 + 465,293 Deferred availability cash items 4,224,907 - 125,253 + 529,636 Other liabilities and accrued dividends 22,996 + 1,347 14 TOTAL LIABILITIES 51,506,745 + 723,453 +1,415 17 C A P I T AL A C C O U N TS Capital paid in " 321,042 212 + 20,877 Surplus (Section 7) 693,612 + 32,711 Surplus.(Section 13b) 27,543 Other capital accounts 214,768 9,390 ± 37,474 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,763,710 + 733,055 +1,506,479 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 44.9% .4$ Contingent liability on acceptances purchased for foreign correspondents 52,342 468 + 24,608 Industrial loan commitments 2,172 4 140 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, NOVEMBER 21, 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 589,469 1 9,728 ~ 6,309,399 16 days to 90 days 5,855 67 15,213 5,878,020 91 days to 1 year 84 459 -- 9,153,913 Over 1 year to 5 years -- 280 -- 373,279 Over 5 years to 10 years — -- -- 1,013,614 Over 10 years .. -- 1,414,857 Digitized for FRASER http://fraser.Tsotlotuaislfe d5.o9rg5/ ,40# B07 24,941 24,143,082 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 1956 Phila- Clever 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 20,369,392 973,299 5,187,311 1080,275 1799,177 1357,552 875,736 3644,543 813,794 388,233 827,911 766,107 2655,454 Gold certificate account Redemption fund for 861,209 57,606 181,233 61,087 75,862 74,380 49,656 157,037 42,107 23,038 41,856 26,391 70,956 F. R. notes Total gold certificate reserves 21,230,601 1030,905 5,368,544 1141,362 1875,039 1431,932 925,392 3801,580 855,901 411,271 869,767 792,498 2726,410 F.R. notes of other Banks 257,857 20,346 44,700 28,450 8,174 15,383 47,362 22,143 9,906 8,979 6,802 23,825 21,787 Other cash 325,785 21,938 67,865 20,515 28,047 20,256 24,784 46,800 22,172 9,171 11,838 15,998 36,401 Discounts and advances 595,408 3,093 153,047 29,859 65,372 26,002 72,995 137,778 22,276 6,720 56,179 8,802 13,285 Industrial loans 807 300 463 44 Acceptances: Bought outright 21,084 21,084 Held under rep. agree. 3,857 3,857 U. S. Govt, securities: Bought outright-- Bills 1,179,720 64,844 296,909 70,890 102,038 72,635 60,661 205,827 49,253 26,647 51,117 46,887 132,012 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 24,068,082 1322,926 6,057,407 1446,275 2081,721 1481,848 1237,557 4199,206 1004,842 543,626 1042,870 956,562 2693,242 Held under rep. agree. 75,000 —— T 3 > 00 0-"*** — — — — — — — — — — — — — — Total U. S. Govt, sees. 24,143,082 1322,92b 6,132,407 1446,275 2081,721 1481,848 1237,557 4199,206 1004,842 543,626 1042,870 956,562 2693,242 Total loans & securities 24,764,238 1326,319 6,310,395 1476,597 2147,093 1507,850 1310,552 4336,984 1027,118 550,390 1099,049 965,364 2706,527 Due from foreign banks 22 1 1/ 6 2 2 1 13 1 11 1 2 Uncollected cash items 5,747,592 506,861 1,048,121 345,477 552,479 422,458 417,419 960,325 231,848 146,307 270,023 283,400 562,874 Bank premises 72,930 5,346 9,264 4,826 7,892 7,213 4,407 5,897 4,329 4,833 4,291 3,638 10,994 Other assets 364,685 19,768 90,936 21,467 31,327 22,191 19,185 65,289 14,872 8,114 15,479 15,408 40,649 TOTAL ASSETS 52,763,710 2931,484 12,939,831 3038,696 4650,053 3427,284 2749,102 9239,021 2166,147 1139,066 2277,250 2100,132 6105,644 l/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

E.4.1(c) STATEMENT Off CONDITION OF EACH FEDERAL RESERVE BANK ON NOVEMBER 21, 1956 Phila Cleve- St. Minne- Kansas San Total Boston New York Richmond Atlanta Chicago Dallas delphla land Louis apolis City Francisco L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 26,997,832 1600,15k 6,267,638 1737,062 2529,704 2138,840 1334,680 5210,132 1191,722 493,063 1057,779 717,163 2719,895 Deposits: Member bank reserves 19,290,021 889,866 5,372,434 905,775 1543,447 842,376 952,092 3033,751 697,221 462,763 923,016 1021,554 2645,726 U.S.Treas.-gen. acct. 391,779 36,758 18,241 21,848 21,418 36,921 38,464 52,591 25,106 21,831 24,472 46,567 47,562 Foreign 300,158 16,815 1/ 96,643 20,520 25,935 14,535 12,540 39,900 10,830 7,125 10,830 14,535 29,950 Other 279,052 3,438 200,547 13,052 957 2,385 2,625 1,418 7,951 1,560 1,805 3,435 39,879 Total deposits 20,261,010 946,877 5,687,865 961,195 1591,757 896,217 1005,721 3127,660 741,108 493,279 960,123 1086,091 2703,117 Deferred availability cash items 4,224,907 309,250 632,368 250,497 413,553 324,516 349,158 716,909 183,502 120,047 208,394 232,579 484,134 Other liabilities and accrued dividends 22,996 1,223 6,210 1,223 2,423 1,160 1,092 4,007 705 588 900 1,154 2,311 TOTAL LIABILITIES 51,506,745 2857,504 12,594,081 2949,977 4537,437 3360,733 2690,651 9050,708 2117,037 1106,977 2227,196 2036,987 5969,457 CAPITAL ACCOUNTS Capital paid in 321,042 16,447 92,343 20,564 30,453 14,663 15,349 43,352 10,982 7,105 12,902 17,953 38,929 Surplus (Section 7) 693,612 41,667 195,827 49,491 62,563 35,012 30,84i 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 Other capital accounts 214,768 12,855 50,26l 14,175 18,594 13,527 11,499 33,638 9,958 6,325 10,055 10,038 23,843 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,763,710 2931,484 12,939,831 3038,696 4650,053 3427,284 2749,102 9239,021 2166,14? 1139,066 2277,250 2100,132 6105,644 Conting. liab. on acceptances purchased for foreign correspondents 52,342 3,086 2/ 15,000 3,766 4,759 2,667 2,301 7,322 1,987 1,308 1,987 2,667 5,492 Industrial loan commit. 2,172 15 135 102 1,920 -- -- FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,883,104 1644,749 6,475,708 1825,499 2587,341 2183,962 1384,512 5303,214 1233,503 545,269 1090,152 762,097 2847,098 Collat. for F. R. notes: Gold certificate acct. 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 Eligible paper 108,018 -- -- 29,715 -- -- -- -- 22,200 56,103 -— -- U. S. Govt, securities 17,135,000 1200,000 3,600,000 1200,000 1550,000 1300,000 looo.ooo 3100,000 900,000 460,000 800,000 525,000 1500,000 28,911,018 1780,000 6,570,000 1879,715 2640,000 2245,000 1450,000 5400,000 1372,200 610,000 1156,103 808,000 3000,000 Total collateral l/ After deducting $203,490,000 participations of other Federal Reserve Banks. 2/ After deducting $37,342,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis