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 20, 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 19 increased $315 million to $19,535 million. Estimated required reserves increased $257 million; and estimated excess reserves increased $58 million to $578 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $51 million; the week before they were $17 9million less than member bank borrowings. The principal changes supplying average reserves were increases of $609 million in Federal Reserve float and $137 million in U. S. Government securities held under repurchase agreement, and a decrease of $95 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes were a decrease of $172 million in member bank borrowings, and increases of $175 million in money in circulation, $l4l million in Treasury deposits with Federal Reserve Banks, and $47 million in foreign deposits with Federal Reserve Banks. Total Reserve Bank credit increased $590 million. As of Wednesday, December 19, holdings of U. S. Government securities bought outright were $53 million higher than a week earlier, U. S. Government securities held under repurchase agreement were $187 million higher, and member bank borrowings were $218 million higher. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 19, 1956 1 Dec. 12, 1956 Dec. 21, 1:9 55 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright--System account 24,489 - 4 +114 Held under repurchase agreement 296 +137 + 83 Acceptances— Bought outright 32 + 3 + 15 Held under repurchase agreement 14 - 1 + 13 Loans, discounts, and advances— Member bank borrowings 527 -172 -217 Other 29 + 19 + 25 Float 1,835 +609 + 89 Total Reserve Bank credit 27,223 +590 +122 Gold stock 21,927 + 3 +238 Treasury currency outstanding 5,064 + 2 + 56 54,213 +595 ^15 Money in circulation 31,835 +175 +471 Treasury cash holdings 776 + 1 + 4 Treasury deposits with F. R. Banks 498 +l4l + 97 Foreign deposits with F. R. Banks 389 + 47 - 80 Other deposits with F. R. Banks 169 - 95 -167 Other F. R. accounts (net) 1,011 + 10 + 1 34,678 +279 7325 Member bank reserves— 19,535 +315 + 89 Required reserves (estimated) 18,957 +257 +lf>5 Excess reserves (estimated) 578 + 58 - 76 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 21,931 Treasury cash holdings jgj Treasury currency outstanding 5,065 Member bank) - Required (est.) ]q ggg Money in circulation 31,890 reserves ) - Excess (est.) '5^ On December 19, 1956, U. S. Government securities held in custody by theJfderal Reserve Banks for foreign account were $3,683 million, an increase Digitiozefd f$or4 F6R AmSiElRl ion for the week and an increase of $18 million from the comparable http:/d/faratseer .satlo uyisefead.ror ga/ go. 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. 19, Dec. 12, Dec. 21, 1956 1956 . 1955 A S S E TS Gold certificate account 20,366,393 + 2,001 + 230,041 Redemption fund for F. R. notes 874,^11 16.365 + 4,562 — Total gold certificate reserves 21,240,904 + 18.366 234,603 F. R. notes of other Banks 291,980 + 6,872 + 29,349 Other cash 287,409 9,695 + 1,793 Discounts and advances 772,426 213,439 + 101,988 Industrial loans 816 1 176 Acceptances: Bought outright 31,764 + 14,175 Held under repurchase agreement 22,112 7,028 + 20.108 U. S. Government securities: Bought outright— Bills 1,679,770 + 53,250 + 211,924 Certificates 10,932,699 +5,012,000 Notes 9,153,913 -5,012,000 Bonds 2,801,750 Total bought outright 24,566,132 + 53,250 + 211,924 Held under repurchase agreement 340,600 +_ 186,900 + 58,920 Total U. S. Government securities 24,908,732 + 240,150 +270,844 Total loans and securities 25,735,850 + 46o,6l6 + 407,291 Due from foreign hanks 22 Uncollected cash items 6,408,347 +1,342,660 + 692,317 Bank premises 73,399 + 88 + 11,985 Other assets 233,282 - 10,288 + 85,278 TOTAL ASSETS 54,271,193 +1,808,619 +1,462,616 L I A B I L I T I E S Federal Reserve notes 27,501,680 + 172,148 + 463,643 Deposits: Member bank reserves 19,835,675 + 754,835 + 446,518 U. S. Treasurer—general account 769,623 + 455,682 + 230,444 Foreign 405,347 - 16,797 - 73,972 Other 167,032 - 16,127 - 152,470 Total deposits 21,177,677 +1,177,593 + 450,520 Deferred availability cash items 4,261,179 + 446,4l6 + 437,690 Other liabilities and accrued dividends 29,397 +, lf)83 + 6.011 TOTAL LIABILITIES 52,969,933 +1,797,640 +1,357,864 C A P I T AL A C C O U N TS Capital paid in" ' 324,849 633 + 22,961 Surplus (Section 7) 693,612 + 32,711 Surplus (Section 13b) 27,543 Other capital accounts 255,256 + 10,346 + 49,080 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 54.271.193 +1,808,619 +1,462,616 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined 43.6# 1.256 Contingent liability on acceptances purchased for foreign correspondents 51,225 410 + 17,064 Industrial loan commitments 2.160 1 206 MATURITY DISTRIBUTION OF LOANS AND SECURITIES. DECEMBER 19, 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 743,532 75 29,387 534,400 16 days to 90 days 3,799 4 24,489 6,497,970 91 days to 1 year 25,095 468 15,074,612 Over 1 year to 5 years 269 373,279 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER 1,414,857 Total http://fraser.stlouisfed.org/ 772,426 533 53,876 24,908,732 Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 19. 1956 Total Boston New York d P e h l i p l h a i - a Cl l e a v n e d - Richmond Atlanta |Chicago L S o t u . i s M a i p n o n l e i - s K C a i n t sa y s Dallas Fran S c a i n s co (In thousands of dollars) A S S E TS Gold certificate account 20,366,393 959,989 5,298,427 1060,419 1927,130 1343,784 884,995 3624,282 829,617 341,687 801,647 730,917 2563,499 Redemption fund for F. R. notes 874,511 ?7,O?3 179,118 63,176 77,990 71,662 51,231 161.120 41.847 22,962 41,643 26,219 80,450 Total gold certificate reserves 21,240,904 1017,082 5,477,545 1123,595 2005,120 1415,446 936,226 3785,402 871,464 364,649 843,290 757,136 2643,949 F.R. notes of other Banks 291,980 18,887 57,670 31,131 10,303 16,083 43,916 25,658 9,547 10,320 8,480 24,393 35,592 Other cash 287,409 20,094 57,372 12,992 20,313 16,702 22,529 45,935 22,267 9,354 11,077 14,398 34,376 Discounts and advances 772,426 44,448 210,457 32,484 82,607 33,697 30,403 205,368 19,736 19,805 47,334 25,877 20,210 Industrial loans 816 312 462 42 Acceptances: Bought outright 31,764 31,764 — -- " -- Held under rep. agree. 22,112 22,112 —- U. S. Govt, securities: & Bought outright— Bills 1,679,770 92,330 422,760 100,939 145,288 103,422 86,373 293,072 70,131 37,941 72,784 66,761 187,969 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 24,568,132 1350,412 6,183,258 1476,324 2124,971 1512,635 1263,269 4286,451 1025,720 554,920 1064,537 976,436 2749,199 Held under rep. agree. 340.600 340,600 —— —— •• — -* —— i Total U. S, Govt, sees. 24,908,732 1350,412 6,523,858 1476,324 2124,971 1512,635 1263.269 4286,451 1025,720 554.920 1064,537 976,436 2749.199 Total loans & securities 25,735,850 1395,172 6,788,191 1509,270 2207,578 1546,332 1293,672 4491,819 1045,456 574,767 1111,871 1002,313 2769,409 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 6,408,347 503,663 1,189,879 385,344 585,822 483,738 516,467 1083,088 273,485 153,158 309,172 299,738 624,793 Bank premises 73,399 5,330 9,389 4,804 7,676 7,352 4,394 5,877 4,462 4,953 4,346 3,917 10,899 Other assets 233,282 12,453 57,484 13,637 20,055 13.963 12,306 42,603 9.460 5,208 9,864 10,041 26,208 TOTAL ASSETS 54,271,193 2972,682 13,637,536 3080,775 4856,869 3499,617 2829,511 9480,385 2236,142 1122,410 2298,101 2111,937 6145,228 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 19, 1956 Total Boston New York Richmond Atlanta Chicago ^ ^inne- Kansas Dallaa LLLLL IIIII AAAAA BBBBB IIIII LLLLL IIIII TTTTT IIIII EEEEESSSSS (In thousands of dollars) FFFFFeeeeedddddeeeeerrrrraaaaalllll RRRRReeeeessssseeeeerrrrrvvvvveeeee nnnnnooooottttteeeeesssss 27,501,680 1633,302 6,391,217 1769,458 2597,563 2194,522 1375,910 5275,638 1215,396 499,788 1076,165 726,556 2746,165 DDDDDeeeeepppppooooosssssiiiiitttttsssss::::: MMMMMeeeeemmmmmbbbbbeeeeerrrrr bbbbbaaaaannnnnkkkkk rrrrreeeeessssseeeeerrrrrvvvvveeeeesssss 19,835,675 888,954 5,675,942 908,638 1609,429 856,445 942,701 3205,835 721,325 435,541 912,322 1023,557 2654,986 UUUUU.....SSSSS.....TTTTTrrrrreeeeeaaaaasssss.....-----gggggeeeeennnnn..... aaaaaccccccccccttttt..... 769,623 29,741 274,589 36,141 51,575 40,908 43,484 83,096 41,204 28,668 47,557 48,607 44,053 FFFFFooooorrrrreeeeeiiiiigggggnnnnn 405,347 22,538 1/132,574 27,504 34,762 19,482 16,808 53,480 14,516 9,550 14,516 19*482 40,135 OOOOOttttthhhhheeeeerrrrr 167,032 5,170 ~ 92,014 12,101 l,4l4 1,755 1,993 8l4 6,455 586 977 3,348 40,405 TTTTToooootttttaaaaalllll dddddeeeeepppppooooosssssiiiiitttttsssss 21,177,677 9^6,403 6,175,119 984,384 1697,180 918,590 1004,986 3343,225 703,500 474,345 975,372 1094,994 2779,579 DDDDDeeeeefffffeeeeerrrrrrrrrreeeeeddddd aaaaavvvvvaaaaaiiiiilllllaaaaabbbbbiiiiillllliiiiitttttyyyyy cccccaaaaassssshhhhh iiiiittttteeeeemmmmmsssss 4,261,179 315,444 703,077 234,226 443,145 316,264 386,926 668,083 185,796 113,917 193,646 224,373 476,282 OOOOOttttthhhhheeeeerrrrr llllliiiiiaaaaabbbbbiiiiillllliiiiitttttiiiiieeeeesssss aaaaannnnnddddd aaaaaccccccccccrrrrruuuuueeeeeddddd dddddiiiiivvvvviiiiidddddeeeeennnnndddddsssss 29,397 1,219 9,757 1,440 2,601 1,243 l,l64 4,771 893 1,567 928 1,317 2,497 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS 52,969,933 2896,368 13,279,170 2989,508 4740,489 3430,619 2768,986 9291,717 2185,585 1089,617 2246,111 2047,240 6004,523 CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS CCCCCaaaaapppppiiiiitttttaaaaalllll pppppaaaaaiiiiiddddd iiiiinnnnn 324,849 16,629 93,964 20,623 31,031 14,727 15,426 44,267 11,046 7,170 13,007 17,989 38,970 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 33,84? 71,275 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 255,256 1.5,007 61,256 16,664 21,780 15,910 13,496 41,078 11,341 6,964 11,886 11,554 28,320 TTTTTOOOOOTTTTTAAAAALLLLL LLLLLIIIIIAAAAABBBBBIIIIILLLLLIIIIITTTTTIIIIIEEEEESSSSS AAAAANNNNNDDDDD CCCCCAAAAAPPPPPIIIIITTTTTAAAAALLLLL AAAAACCCCCCCCCCOOOOOUUUUUNNNNNTTTTTSSSSS 54,271,193 2972,682 13,637,536 3080,775 4856,869 3499,617 2829,511 9480,385 2236,142 1122,410 2298,101 2111,937 6145,228 CCCCCooooonnnnntttttiiiiinnnnnggggg..... llllliiiiiaaaaabbbbb..... ooooonnnnn aaaaacccccccccceeeeepppppttttt----aaaaannnnnccccceeeeesssss pppppuuuuurrrrrccccchhhhhaaaaassssseeeeeddddd fffffooooorrrrr fffffooooorrrrreeeeeiiiiigggggnnnnn cccccooooorrrrrrrrrreeeeessssspppppooooonnnnndddddeeeeennnnntttttsssss 51,225 3,021 2/ 14,668 3,686 4,659 2,6ll 2,253 7,l68 1,946 1,280 1,946 2,611 5,376 IIIIInnnnnddddduuuuussssstttttrrrrriiiiiaaaaalllll llllloooooaaaaannnnn cccccooooommmmmmmmmmiiiiittttt..... 2,160 —— — — 16 123 •• — — 101 -• — — 1,920 •• "• FEDERAL RESERVE AGENTS' ACCOUNTS FF.. RR.. nnootteess oouuttssttaannddiinngg 28,452,089 1671,693 6,637,238 1859,619 2664,584 2240,266 1423,769 5382,344 1266,470 550,965 1101,283 765,832 2888,026 CCoollllaatt.. ffoorr FF.. RR.. nnootteess:: GGoolldd cceerrttiiffiiccaattee aacccctt.. 11,918,000 580,000 3,170,000 660,000 1130,000 945,000 450,000 2300,000 450,000 150,000 300,000 283,000 1500,000 EElliiggiibbllee ppaappeerr 95,558 - - — 30,540 - - -- - - - — 18,710 - - 46,308 -- UU.. SS.. GGoovvtt,, sseeccuurriittiieess 17,285,000 1200,000 3,600,000 1200,000 1550,000 1350,000 1000,000 3200,000 900,000 460,000 800,000 525,000 1500,000 TToottaall ccoollllaatteerraall 29,298,5581 1780,000 6,770,000 1890,540 2680,000 2295,000 1450,000 5500,000 1368,710 610,000 1146,308 808,000 3000,000 1/ After deducting $272,748,000 participations of other Federal Reserve Banks. 2/ After deducting $36,557,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis