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 13, 1956 WEEKLY AVERAGES OF MEMBER BAH 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 12 increased $152 million to $19,220 million. Estimated required reserves decreased $17 million; and estimated excess reserves increased $169 million to $609 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $90 million, compared with $18 million the week before. The principal changes supplying average reserves were increases of $248 million in Federal Reserve holdings of U. S. Government securities, $241 million in member ban kborrowings, and $11 million in Federal Reserve holdings of acceptances, and a decrease of $51 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were increases of $210 million in money in circulation and $91 million in "other" F. R. accounts (net), and decreases of $42 million in Federal Reserve float and $29 million in gold stock. Total Reserve Bank credit increased $468 million. As of Wednesday, December 12, holdings of U. S. Government securities bought outright were $150 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $65 million higher, and member bank borrowings were $4l million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 12, 1956 Dec. 5» 19561 Dec. 14, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,493 +206 + 50 Held under repurchase agreement I59 +42 +13 Acceptances-- Bought outright 29 +5 +12 Held under repurchase agreement 15 +6 + 14 Loans, discounts, and advances-- Member bank borrowings 699 +241 -179 Other 10 +7 +9 Float 1,226 - 42 +285 Total Reserve Bank credit 26,633 +468 +205 Gold stock 21,924 - 29 +235 Treasury currency outstanding 5,062 +2 +55 53,618 +450 +595 Money in circulation 31,660 +210 +4l6 Treasury cash holdings 775 + 5 - 11 Treasury deposits with F. R. Banks 357 - 51 +20 Foreign deposits with F. R. Banks 342 - 2 -104 Other deposits with F. R. Banks 264 + 36 -108 Other F. R. account s(net) 1,001 + 91 + 12 34,399 +289 +225 Member bank reserves-- 19,220 +152 +270 Required reserves (estimated) 18,611 - 17 +123 Excess reserves (estimated) 609 +169 +147 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 21,909 Treasury cash holdings 779 Treasury currency outstanding 5,062 Member bank) - Required (est.) -j_g 722 Money in circulation 31,718 reserves ) - Excess (est.) '359 On December 12, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,637 million, an increase of $99 million for the week and an increase of $12 million from the comparable date Digitized for FRASER a year ago. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERA LRESERVE BANKS COMBINED (In thousands of dollars) Change since Dec. 12, Dec. 5, Dec. 14, 1956 1956 1955 A S S E TS Gold certificate account 20,364,392 - 102,999 + 223,040 Redemption fund for F. R. notes 858,146 + 1,271 - 8,937 Total gold certificate reserves 21,222,538 - 101,728 + 214,103 F. R. notes of other Banks 285,108 - 978 + 36,489 Other cash 297,104 - 16,107 + 5,647 Discounts and advances 558,987 - 10,637 - 5,384 Industrial loans 817 + 6 + 115 Acceptances: Bought outright 31,764 + 6,027 + 14,269 Held under repurchase agreement 15,084 + 4,616 + 14,268 U. S. Government securities: Bought outright— Bills 1,626,520 150,400 + 108,174 Certificates 10,932,699 +5,012,000 Notes 9,153,913 -5,012,000 Bonds 2,801,750 Total bought outright 2575157B82 + 150,400 + 10b,174 Held under repurchase agreement 153,700 + 64,500 1,080 Total U. S. Government securities + 214,900 + 107,094 Total loans and securities 25,275,234 214,912 + 130,362 Due from foreign banks 22 Uncollected cash items 5,065,687 299,708 - 135,008 Bank premises 73,311 31 + 11,882 Other assets 243,570 +_ .12,497 + 82,130 TOTAL ASSETS 52,462,574 +* 408,273 + 345,605 L I A B I L I T I ES Federal Reserve notes 27,329,532 + 175,023 + 421,445 Deposits: Member bank reserves 19,080,840 + 81,952 + 271,771 U. S. Treasurer—general account 313,941 - 24,105 - 110,879 Foreign 422,144 + 111,680 - 11,667 Other 183,159 - 95,742 - 139,599 Total deposits 20,000,08% + 73,785 +9,626 Deferred availability cash items 3,814,763 + 144,641 - 192,957 Other liabilities and accrued dividends 27,914 + 1,672 + 4,960 TOTAL LIABILITIES 51,172,293 + 395,121 + 243,074 C A P I T AL A C C O U N TS Capital paid in" 324,216 2,642 + 23,511 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 244,910 +_ 10,510 +_ 46,309 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52>466,574 + 408,273 + 345,605 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 44.8% Contingent liability on acceptances purchased for foreign correspondents 51,635 387 + 19,056 Industrial loan commitments 2,l6l 5 - 144 MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 12, 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 529,648 fS Yb 21,539 216,900 16 days to 90 days 4,168 379- 25,309 6,575,320 91 days to 1 year 25,171 100- V\5V 15,074,612 Over 1 year to 5 years 373,279 Over 5 years to 10 years 1,013,614 DigitizOedv eforr F R1A0SE Ry ears http://fraser.sTtlooutisafeld .org/ 558,987 817 46,848 Federal Reserve Bank of St. Louis

E.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 12, 1956 Phila- Cleve St. Minne- Kansas San Total Boston New York |Richmond Atlanta Chicago Dallas delphia land Louis apolis City Francisco A S S E TS (In thousands of dollars) Gold certificate account 20,364,392 965,957 5,272,400 1071,315 1850,873 1359,204 871,420 3606,898 843,191 357,552 770,849 702,087 2692,646 Redemption fund for F. R. notes 858,146 57,188 179,481 63,332 77,136 72,142 49,295 156,265 41,889 22,972 41,675 26,243 70,528 Total gold certificate reserves 21,222,538 1023,145 5,451,881 1134,647 1928,009 1431,346 920,715 3763,163 885,080 380,524 812,524 728,330 2763,174 F.R. notes of other Banks 285,108 18,163 60,586 29,923 8,885 17,343 43,985 24,530 9,069 10,101 8,526 22,877 31,120 Other cash 297,104 20,741 62,232 14,561 22,528 17,982 23,539 44,757 21,419 9,056 10,818 14,923 34,548 Discounts and advances 558,987 55,068 96,142 32,759 38,062 37,182 53,643 133,724 14,176 10,475 59,189 19,132 9,435 Industrial loans 817 312 46l 44 Acceptances: Bought outright 31,764 — - 31,764 -- -- -- Held under rep. agree. 15,084 15,084 - - -- U. S. Govt, securities: Bought outright— Bills 1,626,520 89,403 409,358 97,739 140,683 100,144 83,635 283,781 67,907 36,739 70,477 64,644 182,010 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 1223,300 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 24,514,882 1347,485 6,169,856 1473,124 2120,366 1509,357 1260,531 4277,16 01023,496 553,718 1062,230 974,319 2743,240 Held under rep. agree. 153.700 153.700 Total U. S. Govt, sees. 24.668.582 1347.485 6.323.556 1473.124 2120.366 1509.357 1260.531 4277,16 01023,496 553,718 1062,230 974,319 2743,240 Total loans & securities 25,275,234 1402,865 6,466,546 1506,344 2158,428 1546,539 1314,174 4410,884 1037,672 564,237 1121,419 993,451 2752,675 Due from foreign banks 22 1 1/6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 5,065,687 402,146 921,453 304,077 474,702 401,886 396,269 855,318 222,099 136,174 242,700 249,640 459,223 Bank premises 73,311 5,330 9,241 4,804 8,033 7,352 4,395 5,877 4,311 4,846 4,306 3,917 10,899 Other assets 243,570 13,248 59,325 14,433 21,001 14,571 12,903 45,145 9,869 5,521 10,228 10,216 27,110 TOTAL ASSETS 52,462,574 2885,639 13,031,270 3008,791 4621,58 83437,020 2715,981 9149,67 72189,520 1110,460 2210,522 2023,355 6078,751 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 DECEMBER 12, 1956 Total Beaton New York | " S" Elchn°cd Attonta Cblca®= Lo^ie I %% ^ Dallas frJSsco LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,329,532 1622,830 6,340,650 1758,273 2574,63 72171,550 1358,998 5254,949 1207,015 498,653 1073,341 723,874 2744,762 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,080,840 850,051 5,419,678 889,922 1496,734 834,731 919,796 2999,444 716,254 440,478 859,345 974,662 2679,745 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 313,941 21,218 49,029 22,082 24,498 28,640 26,478 30,556 17,905 17,274 18,326 25,176 32,759 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 422,144 24,367 1/127,237 29,736 37,583 21,063 18,172 57,820 15,694 10,325 15,694 21 063 43 390 OOOOOttttthhhhheeeeerrrrr 183,159 - 104>0U6 9,985 1,687 2,976 1,804 1,151 7,438 952 1,076 3,413 43,498 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 20,000,064 900,769 5,699,990 951,725 1560,502 887,410 966,250 3088,971 757,291 469,029 894,44l 1024,3i4 2799,392" DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 3,814,763 285,141 627,237 206,791 367,906 307,950 329,481 6l4,68l 174,059 109,288 190,220 209,656 392,353 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 27,914 1,229 7,995 1,382 2,980 1,751 1,250 4,576 965 846 1,057 1,203 2.680 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 51,172,293 2809,969 12,675,872 2918,171 4506,025 3368,661 2655,979 8963,177 2139,33 01077,816 2159,05 91959,04? 5939,187 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 324,216 16,551 93,873 20,620 30,994 14,698 15,414 44,006 11,031 7,153 12,928 17,980 38,968 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 7/275 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 244,910 14,44i 58,379 16,020 21,000 15,300 12,985 39,171 10,989 6,832 11,438 11,174 27,181 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 52,462,574 2885,639 13,031,270 3008,791 4621,58 83437,020 2715,981 9149,677 2189,520 1110,460 2210,522 2023,355 6078,751 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 51,635 3,050 2/ 14,721 3,722 4,705 2,637 2,275 7,238 1,965 1,292 1,965 2,637 5,428 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2.161 —— — — XT X23 " ** —— 101 —— — — 1 QPO —— —— FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,349,236 1674,632 6,656,017 1847,260 2632,842 2223,453 l4l8,o66 5360,793 1250,801 549,400 1094,390 767,608 2873,974 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 101,388 30,455 — — — — 12,960 — 57,973 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 29,224,388 1780,000 6,770,000 1860,455 2660,000 2245,000 1450,000 5500,000 1362,960 610,000 1157,973 808,000 3000,000 1/ After deducting $294,882,000 participations of other Federal Reserve Banks. 2/ After deducting fe6,9l4,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis