H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.U.I OF THE FEDERAL RESERVE SYSTEM November 29, 1956 WEEKLY AVERAGES OF MEMBER BAN KRESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERA LRESERVE BANKS The average of daily figures of member ban kreserves for the week ending November 28 increased $64 million to $19,375 million. Estimated required reserves increased $60 million; and estimated excess reserves increased $4 million to $695 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $66 million, compared with $31 millio nthe week before. The principal changes supplying average reserves were an increase of $169 million in Federal Reserve holdings of U. S. Government securities and a decrease of $40 million in "other" deposit swith Federal Reserve Banks. The principal offsetting changes were decreases of $31 millio nin member ban kborrowings and $29 million in Federal Reserve float, and an increase of $86 millio nin money in circulation. Total Reserve Bank credit increased $108 million. As of Wednesday, November 28, holdings of U. S. Government securities bought outright were $152 million higher than a week earlier ,U. S. Government securities held under repurchase agreement were $11 million lower, and member bank borrowings were $237 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Nov. 28. 1956 Nov. 21, 19561 Nov. 30, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities— Bought outright—System account 24,110 +151 +207 Held under repurchase agreement 92 + 18 - 6 Acceptances-- Bought outright 21 + 1 + 4 Held under repurchase agreement 5 - 2 + 5 Loans, discounts, an dadvances— Member bank borrowings 629 - 31 -341 Other 3 - 1 Float 1,514 zJ2 +495 Total Reserve Bank credit 26,374 +IoH +362 Gold stock 21,910 «. «. +222 Treasury currency outstanding 5,056 + 1 + 48 53,340 +109 +632 Money in circulation 31,355 + 86 +392 Treasury cash holdings 772 + 1 - 9 Treasury deposits with F. R. Banks 436 - 5 - 3 Foreign deposits with F» R. Banks 307 + 4 - 92 Other deposits with F. R. Banks 252 - 40 -146 Other F. R« account s(net) 843 - 1 - 92 33,965 + 45 + 51 Member bank reserves-- 19,375 + 64 +581 Required reserves (estimated) 18,680 TTo +299 Excess reserves (estimated) 695 + 4 +282 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 774 Treasury currency outstanding 5,056 Member bank) - Required (est.) 18,752 Money in circulation 31,347 reserves ) - Excess (est.) 182 On November 28, 1956, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,550 million, a decrease of Digi$tiz1e6d fomr FiRlAlSiEoR n for the week and a decrease of $8 millio nfrom the comparable date a httpy://efraasrer .satloguois.fe d.org/ Federal Reserve Bank of St. Louis

HA.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (in thousands of dollars) Change since Nov. 3°, Nov. 28, Nov. 21, 1956 1956 1955 A SS E T S Gold certificate account 20,367,394 - 1,998 + 229,043 Redemption fund for F. R. notes 860,020 - 1,189 - 3,730 Total gold certificate reserves 21,227,414 - 3,187 + 225,313 F. R. notes of other Banks 295,509 + 37,652 + 68,171 Other cash 326,336 + 551 + 1,188 Discounts and advances 358,843 - 236,565 - 259,486 Industrial loans 799 - 8 + 95 Acceptances: Bought outright 21,782 + 698 + 4,289 Held under repurchase agreement 5,176 + 1,319 5,176 U. S. Government securities: Bought outright-- Bills 1,331,720 152,000 61,874 Certificates 10,932,699 +8, 412,623 Notes 9,153,913 -- -8,245,623 Bonds 2,801,750 Total bought outright 24,220,082 + 152,000 228,874 - + Held under repurchase agreement 64,000 - 11,000 - 201,160 Total U. S. Government securities 24,284,082 + 141,000 + 27,714 Total loans and securities 24,670,682 - 93,556 - 222,212 Due from foreign banks 22 Uncollected cash items 5,021,218 - 726,374 + 533,503 Bank premises 72,980 + 50 + 12,573 Other assets 376,148 + 11,463 175,206 + TOTAL ASSETS 51,990,309 - 773,401 + 793,742 L I A B I L I T I ES Federal Reserve notes 27,004,691 + 6,859 + 375,407 Deposits: Member bank reserves 18,933,626 356,395 + 459,477 U. S. Treasurer—general account 479,309 + 87,530 2,468 + Foreign 373,267 + 73,109 - 34,348 .. Other 167,154 - 111,898 244,612 Total deposits 19,953,356 - 307,654 + 162*985 Deferred availability cash items 3,740,745 - 484,162 + 136,146 Other liabilities and accrued dividends 24,814 + 1,818 4,534 + TOTAL LIABILITIES 50,723^606 783,139 + 699,072 - C A P I T AL A C C O U N TS Capital paid in 321,179 + 137 + 20,959 Surplus (Section 7) 693,612 + 32,711 - Surplus (Section 13b) 27,543 Other capital accounts 224,369 + 9,601 + 41,000 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 51,990,309 773,401 793,742 - + Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 45.2# + •3f - .1# Contingent liability on acceptances purchased for foreign correspondents 52,113 229 + 24,879 Industrial loan commitments 2.178 + 6 - l6l MATURITY DISTRIBUTION OF LOANS AND SECURITIES. NOVEMBER 28, 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 354,001 1 9,983 6,231,599 16 days to 90 days 4,765 66 16,975 6,096,820 91 days to 1 year 77 452 9,153,913 Over 1 year to 5 years 280 373,279 Over 5 years to 10 years 1,013,614 DigitizeOd vfoer FrR A1S0E Ry ears http://fraser.stlTouoistfeadl.o rg/ 35875*3 799 26,958 24,284,082 Federal Reserve Bank of St. Louis

5.4.1(b) STATEMENT OF CONDITION OF EACH FEDERA:R ESERVE BANK ON NOVEMBER 28 ,1956 Total Boston New York Phila- Cleve- Richmond Atlanta Chicago St. Minne- Kansas Dallas San delphia land - Louis apolis City Francisco (in thousands of dollars) A S S E TS Gold certificate account 20,367,394 884,218 5,173,016 1098,831 1907,764 1355,611 835,701 3716,691 819,954 380,684 770,025 775,749 2649,150 Redemption fund for J*. R. notes 860,020 57,432 180,557 60,783 77,571 73,535 49,512 156,714 42,015 23,013 41,783 26,334 70,771 Total gold certificate reserves 21,227,414 941,650 5,353,573 1159,6l4 1985,335 1429,146 885,213 3873,405 861,969 403,697 811,808 802,083 2719,921 F.R. notes of other Banks 295,509 20,856 57,668 29,904 9,502 16,793 50,465 25,129 10,999 12,313 8,129 19,275 34,476 Other cash 326,336 21,641 69,521 19,204 26,685 19,513 24,683 45,718 23,961 8,857 11,916 15,919 38,718 Discounts and advances 358,843 8,118 11,622 19,109 25,937 23,052 80,045 56,388 18,136 7,520 91,129 10,302 7,485 Industrial loans 799 300 455 44 Acceptances: Bought outright 21,782 21,782 -- - - Held under rep. agree. 5,176 5,176 - - -- U. S. Govt, securities: Bought outright— Bills 1,331,720 73,199 335,164 80,024 115,185 81,993 68,476 232,347 55,600 30,080 57,703 52,928 149,021 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 24,220,082 1331,281 6,095,662 1455,^09 2094,86 81491,206 1245,372 4225,726 1011,189 547,059 1049,456 962,603 2710,251 Held under rep. agree. 64,000 64,000 Total U. S. Govt, sees. 24,284,082 1331,281 6,159,662 1455,409 2094.86 81491,206 1245,372 4225.726 1011,189 547.059 1049,456 962.603 2710.251 Total loans & securities 24,670,682 1339,699 6,198,242 1474,973 2120,805 1514,258 1325,417 4282,114 1029,325 554,623 1140,585 972,905 2717,736 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,021,218 463,614 890,877 305,087 472,263 385,092 368,456 856,996 205,403 127,114 238,179 244,925 463,212 Bank premises 72,980 5,312 9,264 4,804 8,029 7,191 4,396 5,900 4,328 4,833 4,291 3,638 10,994 Other assets 376,148 20.410 93.762 22.087 32.372 22,913 19.749 67.521 15.325 8.392 15.965 15.809 41.843 TOTAL ASSETS 51,990,309 2813,183 12,672,913 3015,675 4654,993 3394,907 2678,380 9156,786 2151,311 1119,830 2230,87 42074,555 6026,902 1/ After deducting $16,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Total Boston New York | ^ Richmond Atlanta Chicago J ^s %% Dallas J ^ p 3 C0 (In thousands of dollars) LL II AA BB II LL II TT II EESS FFeeddeerraall RReesseerrvvee nnootteess 27,004,691 1604,374 6,260,801 1741,545 2539,08 22147,390 1334,351 5208,690 1190,1 44194,055 1063,695 718,546 2702,021 DDeeppoossiittss:: MMeemmbbeerr bbaannkk rreesseerrvveess 18,933,626 804,340 5,203,805 901,308 1547,138 816,680 910,87 43036,872 708,377 452,541 873,749 1021,073 2656,869 UU..SS..TTrreeaass..--ggeenn.. aacccctt.. 479,309 45,059 65,333 37,484 35,944 45,977 4i,94l 53,810 20,446 22,838 35,709 30,552 44,216 FFoorreeiiggnn 373,267 20,709 1/122,628 25,272 31,941 17,901 15,444 49,140 13,338 8,775 13,338 17,901 36,880 OOtthheerr 167,154 3,716 91,635 10,288 1,253 2,329 1,819 1,146 7,021 942 1,040 3,330 42,635 TToottaall ddeeppoossiittss 19,953,356 873,824 5,483,401 974,352 1616,276 882,88? 970,078 3140,96 8749,182 485,096 923,836 1072,856 2780,600 DDeeffeerrrreedd aavvaaiillaabbiilliittyy ccaasshh iitteemmss 3,740,745 259,412 573,653 209,204 383,546 296,245 313,803 620,894 161,654 107,658 191,816 218,420 404,440 OOtthheerr lliiaabbiilliittiieess aanndd aaccccrruueedd ddiivviiddeennddss 24,814 1,122 6,725 1,234 2,672 1,250 1,202 4,113 865 735 1,039 1,234 2,623 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 50,723,606 2738,732 12,324,580 2926,335 4541,576 3327,772 2619,434 8974,665 2101,842 1087,544 2180,386 2011,056 5889,684 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 321,179 16,455 92,349 20,613 30,468 14,666 15,365 43,383 10,984 7,106 12,908 17,958 38,924 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 2,140 OOOttthhheeerrr cccaaapppiiitttaaalll aaaccccccooouuunnntttsss 224,369 13,318 52,838 14,747 19,380 14,108 11,978 35,415 10,315 6,521 10,483 10,387 24,879 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS AAANNNDDD CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS 51,990,309 2813,183 12,672,913 3015,675 4654,993 3394,907 2678,380 9156,786 2151,311 1119,830 2230,8 724074,555 6026,902 CCCooonnntttiiinnnggg... llliiiaaabbb... ooonnn aaacccccceeepppttt--aaannnccceeesss pppuuurrrccchhhaaassseeeddd fffooorrr fffooorrreeeiiigggnnn cccooorrrrrreeessspppooonnndddeeennntttsss 52,113 3,074 2/ 14,914 3,751 4,741 2,657 2,292 7,294 1,980 1,302 1,980 2,657 5,471 IIInnnddduuussstttrrriiiaaalll llloooaaannn cccooommmmmmiiittt... 2,178 " -- 21 111 " — 102 " — 1-Q20 FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,009,171 1652,756 6,542,456 1828,719 2605,462 2200,203 1386,352 5310,68 81235,548 546,099 1090,900 760,010 2849,978 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,768,000 580,000 3,070,000 650,000 1090,000 945,000 450,000 2300,0 04050,000 150,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 127,688 —— —— 18,965 —— —— —— —— 18,060 —— 90,663 —— —— UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,135,000 1200,000 3,600,000 1200,00 01550,000 1300,000 100C,000 3100,000 900,000 460, 080000,000 525,000 1500,000 TToottaall ccoollllaatteerraall 29,030,688 1780.000 6.670.000 1868.96 52640.000 224s.000 1450.000 5400,000 1368,060 610,000 1190 .860683.000 3000.000 1/ After deducting $250,6l4,000 participations 2/ After deducting $37,199,000 participations of other Federa lReserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis