H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOARD OF GOVERNORS For Immediate Release H.4.1 OF THE FEDERAL RESERVE SYSTEM December 6, 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 December 5 decreased $307 million to $19,068 million. Estimated required reserves decreased $31 million; and estimated excess reserves decreased $2?6 million to $440 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $18 million; the week before they were $87 million less than excess reserves. The principal changes reducing average reserves were decreases of $246 million in Federal Reserve float and $171 million in member bank borrowings, and increases of $95 million in money in circulation, $67 million in "other" F. R. accounts (net), and $37 million in foreign deposits with Federal Reserve Banks. The principal offsetting changes were increases of $202 million in Federal Reserve holdings of U. S. Government securities and $43 million in gold stock, and decreases of $28 million in Treasury deposits with Federal Reserve Banks and $24 million in "other" deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $209 million. As of Wednesday, December 5> holdings of U. S. Government securities bought outright were $144 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $2$ million higher, and member bank borrowings were $211 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 5, 1956 Nov. 2b, 19561 Dec. 7, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright—System account 24,287 +177 +248 Held under repurchase agreement 117 + 25 -208 Acceptances— Bought outright 24 + 3 + 6 Held under repurchase agreement 9 + 4 + 9 Loans, discounts, and advances— Member bank borrowings 458 -171 -474 Other 3 •» «» <m <•» Float 1,268 -246 +311 Total Reserve Bank credit 2gr,T55 -209 -109 Gold stock 21,953 + 43 +265 Treasury currency outstanding 5,060 + 4 + 52 53717H -162 +208 Money in circulation 31,450^ + 95 +380 Treasury cash holdings 770 - 2 - 10 Treasury deposits with F. R. Banks 4o8 - 28 - 75 Foreign deposits with F. R. Banks 344 + 37 - 80 Other deposits with F. R. Banks 228 - 24 -185 OOtthheerr FF.. RR.. aaccccoouunnttss ((nneett)) 910 + 67 - 21 34,110 +145 + 9 Member bank reserves— 19,068 -307 +199 Required reserves (estimated) 157528 - 31 +217 Excess reserves (estimated) 440 -276 - 18 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 million of dollars: Gold stock 22,010 Treasury cash holdings 780 Treasury currency outstanding 5,061 Member bank) - Required (est.) 18,650 Money in circulation 31,522 reserves ) - Excess (est.) 349 On December 5, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,538 million, a decrease of $12 million for the week and a decrease of $20 million from the comparable date a year Digitizaegd ofo.r FRASER 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 Dec. 5, Nov. 25, Dec. 7, 1956 1956 1955 A S S E TS Gold certificate account 20,467,391 + 99,997 + 330,039 . Redemption fund for F, R. notes 856,875 3,14$ - 5,945 Total gold certificate reserves 21,324,266 + 96^52 + 324,094 F. R. notes of other Banks 286,086 - 9,423 + 49,062 Other cash 313,211 «- 13,125 + 14,463 Discounts and advances 569,624 + 210,781 - 408,238 Industrial loans 811 + 12 + 117 Acceptances: Bought outright 25,737 + 3,955 + 8,242 Held under repurchase agreement 10,468 + 5,292 + 10,468 U. S. Government securities; Bought outright-- Bills 1,476,120 144,400 4 120,77k Certificates 10,932,699 +8,412,623 Notes 9,153,913 -8,245,623 Bonds 2,801,750 Total bought outright 24,364,482 + 144,400 + 287,774 Held under repurchase agreement 89,200 +_ 25,200 - 207,307 Total U. S. Government securities 24,453,682 + 169,600 + 80,467 Total loans and securities 25,060,322 + 389,640 - 308,944 Due from foreign banks 22 Uncollected cash items 4,765,979 255,239 + 602,495 Bank premises 73,342 362 + 12,884 Other assets 231,073 145,075 + 20,789 TOTAL ASSETS 52,054,301 63,992 + 714,843 L I A B I L I T I ES Federal Reserve notes 27,154,509 + 149,818 + 374,041 Deposits: Member bank reserves 18,998,888 + 65,262 + 351,700 U. S. Treasurer—general account 338,046 - 141,263 - 131,125 Foreign 310,464 - 62,803 - 130,931 Other 278,901 +_ 111,747 - 148,384 Total deposits 19,926,299 - 27,057 - 58,746 Deferred availability cash items 3,670,122 - 70,623 + 297,656 Other liabilities and accrued dividends 26,242 + 1,428 + 4,402 TOTAL LIABILITIES 50,777,172 T 53,566 + 617,359 C A P I T AL A C C O U N TS Capital paid in 321,574 395 + 21>270 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 234,400 10,031 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,054,301 63,992 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 45-3# .1# .4* Contingent liability on acceptances purchased for foreign correspondents 51,248 - 865 + 24,250 Industrial loan commitments 2.166 - 12 - 148 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 5. 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 564,787 13 14,464 228,400 16 days to 90 days 4,776 68 21,741 6,348,920 91 days to 1 year 61 450 15,074,612 Over 1 year to 5 years 280 373,279 Over 5 years to 10 yeara 1,013,614 DigitizeOdv feorr F R1A0S ERy ears 1,414,857 http://fraser.stlouisfed.org/ Total 569,624 "BIT 36,205 24,453,682 Federal Reserve Bank of St. Louis

8.4.1(b) STATEMENT OF COHDIT]C ON OF EACH FEDERAJ RESERVE BANK ON DECEMBER 5. 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 20,467,391 878,948 5,590,638 1062,826 1860,852 1368,841 819,038 3681,872 808,774 386,784 761,980 710,710 2536,128 Redemption fund for F. R. notes 856,875 57,278 179,870 60,487 77,298 72,572 49,380 156,429 41,935 22,993 41,724 26,282 70,627 Total gold certificate •• - • ' 'l' 'ff'" 1 " " ' ' reserves 21,324,266 936,226 5,770,508 1123,313 1938,150 1441,413 868,418 3838,301 850,709 409,777 803,704 736,992 2606,755 F.R. notes of other Banks 286,086 19,956 59,174 29,656 10,588 17,488 47,975 23,872 9,847 8,905 5,191 21,544 31,890 Other cash 313,211 21,994 65,809 18,473 24,539 17,599 25,293 44,888 23,012 9,817 11,529 14,300 35,958 Discounts and advances 569,624 23,073 110,667 29,024 50,832 22,297 82,670 112,307 20,886 13,800 55,581 19,952 28,535 Industrial loans 811 312 455 44 Acceptances: Bought outright 25,737 25,737 Held under rep. agree. 10,468 10,468 U. S. Govt, securities: Bought outright— Bills 1,476,120 81,136 371,506 88,701 127,674 90,884 75,901 257,541 61,628 33,342 63,960 58,667 165,180 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*909 1223,380 Notes 9,153,9 33 503,154 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 24,364,482 1339,218 6,132,004 1464,086 2107,357 1500,097 1252,797 4250,920 1017,217 550,321 1055,713 968,342 2726,4iU Held under rep. agree. 89,200 Total IT. S. Govt, sees. 24.453,682 1339,218 6,221,204 1464,086 2107,357 1500,097 1252,797 4250,920 1017,217 550,321 1055,713 968,342 2726,410 Total loans & securities 25,060,322 1362,603 6,368,076 1493,565 2158,189 1522,394 1335,467 4363,227 1038,103 564,165 1111,294 988,294 2754,945 Due from foreign banks 22 1 J L /6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,765,979 384,543 860,872 289,424 444,780 386,624 371,695 765,843 211,917 131,589 227,392 226,684 464,616 Bank premises 73,342 5,330 9,241 4,804 8,034 7,335 4,394 5,877 4,308 4,833 4,293 3,885 11,008 Other assets 231,073 12,511 56,403 13,502 20,120 13,994 12,296 42,647 9,388 5,138 9,755 9,695 25,624 i TOTAL ASSETS 52,054,301 2743,16433,190,089 2972,739 4604,402 3406,848 2665,539 9084,658 2147,285 1134,225 2173,159 2001,395 5930,798 l/ 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 OH DECEMBER 5, 1956 Total Boston | New York Richmond Atlanta Chicago EaUaa (In thousands of dollars) LLL III AAABBB III LLL III TTT III EEE SSS FFFeeedddeeerrraaalll RRReeessseeerrrvvveee nnnooottteeesss 27,154,509 1610,970 6,299,268 1748,795 2554,884 2159,521 1345,898 5230,132 1198,974 495,828 1069,108 719,205 2721,926 DDDeeepppooosssiiitttsss::: MMMeeemmmbbbeeerrr bbbaaannnkkk rrreeessseeerrrvvveeesss 18,998,888 760,343 5,580,060 883,360 1515,307 835,174 899,134 3006,926 694,249 465,108 826,055 995,225 2537,947 UUU...SSS...TTTrrreeeaaasss...---gggeeennn... aaaccccccttt... 338,046 25,740 40,705 23,128 11,431 27,875 31,532 40,257 14,571 21,339 28,399 15,632 57,437 FFFooorrreeeiiigggnnn 310,464 17,759 1/ 95,525 21,672 27,391 15,351 13,244 42,140 11,438 7,525 11,438 15,351 31,630 OOOtttttteeerrr 278,901 4,701 " 203,012 10,219 2,332 2,749 1,655 950 7,558 1,001 993 3,688 40,043 TTToootttaaalll dddeeepppooosssiiitttsss 19,926,299 808,543 5,919,302 938,379 1556,461 801,149 945,565 3090,273 727,016 494,973 066,005 1029,096 2667,057 DDDeeefffeeerrrrrreeeddd aaavvvaaaiiilllaaabbbiiillliiitttyyy cccaaassshhh iiittteeemmmsss 3,670,122 247,436 613,127 194,187 375,869 297,123 313,521 575,397 169,861 110,055 185,229 187,383 400,934 OOOttthhheeerrr llliiiaaabbbiiillliiitttiiieeesss aaannnddd aaaccccccrrruuueeeddd dddiiivvviiidddeeennndddsss 26,242 1,191 7,338 1,405 2,950 1,363 1,155 4,646 84l 900 968 1,002 2,483 TTTOOOTTTAAALLL LLLIIIAAABBBIIILLLIIITTTIIIEEESSS 50,777,172 2668,l4o 12,039,035 2002,766 4490,164 3339,156 2606,139 8900,440 2097,492 1101,756 2122,190 1937,406 5792,400 CCCAAAPPPIIITTTAAALLL AAACCCCCCOOOUUUNNNTTTSSS CCCaaapppiiitttaaalll pppaaaiiiddd iiinnn 321,574 l6,46l 92,372 20,6l6 30,468 14,666 15,378 43,648 10,999 7,107 12,928 17,967 38,964 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 234,400 13,885 55,536 15,377 20,201 14,665 12,419 37,239 10,624 6,703 10,944 10,788 26,019 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,054,301 2743,164 13,190,089 2972,739 4604,402 3406,848 2665,539 9084,658 2147,285 1134,225 2173,159 2001,395 5930,798 Canting, liab. on acceptances purchased for foreign correspondents 51,248 3,027 2/ 14,620 3,694 4,668 2,616 2,257 7,182 1,949 1,283 1,949 2,616 5,387 Industrial Loan commit. 2,166 —— —— 22 123 *• •• 101 —— — 1,920 — — —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,204,060 1655,560 6,652,897 1834,182 2623,307 2205,333 1407,206 5334,011 1240,363 547,897 1091,215 762,037 2850,052 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,888,000 580,000 3,170,000 650,000 1110,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 EElliiggiibbllee --ppaappeerr 105,195 28,880 — — — — 20,810 — 55,505 UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,235,000 1200,000 3,600,000 1200,000 1550,000 1300,000 1000,000 3200,000 900,000 460,000 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 29,228,195 1780,000 6,770,000 1878,880 2660,000 2245,000 1450,000 5500,000 1370,810 610,000 1155,505 808,000 3000,000 l/ After deducting $214,914,000 participations of other Federal Reserve Banks. 2/ After deducting $36,628,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis