H.4.1 Factors Affecting Reserve Balances of Depository Institutions

BOAfii) OS1 GOVERNORS For Immediate Release H.4.1 OF THE FBtffiRA LRESERVE SYSTEM December 27, 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 December 26.increased $255 million to $19,79& million .Estimated required reserves increased $170 million; and estimated excetis reserves increased $85 million to $663 million. Excess reserves exceeded member ban kborrowings at the Federal Reserve Banks by $22 million, compared with $5 1million the week before. The principal changes supplying average reserves were increases of $373 million in Federal Reserve float, $121 million in Federal Reserve holdings of U. S. Government securities, $114 million in member ban kborrowingsj and $22 million in gold stock. The principal offsetting changes were increases of $157 million in money in circulation, $137 millio nin Treasury deposits with Federa lReserve Bahks. and $89 million in "other" deposit swith Federal Reserve Banks. Total Reserve bank credit increased $619 million. As of Wednesday, December 26, holdings of U. S. Government securities bought outright were $42 million higher than a week earlier ,U. S. Government securities held under repurchase agreement wer e$10 million lower, and member bank borrowings were $121 million lower. Member bank reserves, Averages of daily figures Reserve Bank credit, For week ending Change from week ending and related items Dec. 26, 1956 Dec. 19. 19561 Dec. 28, 1955 (In millions of dollars) Reserve Bank credit: U. S. Government securities-- Bought outright^-System account 24,574 + 85 +189 Held under repurchase agreement 332 + 36 - 50 Acceptances-^ Bought outright 33 + 1 + 13 Held under repurchase agreement 27 + 13 + 22 Loans, discounts, an dadvances— Member bank borrowings 641 +114 -112 Other 27 - 2 + 26 Float 2,208 +373 +333 Total Reserve Bank credit 27,842 ^19 +522 Gold stock 21,949 + 22 +259 Treasury currency outstanding 5,066 + 2 + 58 5CS56 +738 Money in circulation 31,992 +157 +577 Treasury cash holdings 765 - 11 - 9 Treasury deposits with F. R. Banks 635 +137 +112 Foreign deposits with F. R. Banks 393 + 4 -104 Other deposits with F. R« Banks 258 + 89 -152 Other F. R. accoun t(net) 1,024 + 13 + 12 35,066 +3B8 +435 Member bank reserves—» 19,790 +252 +303 Required reserves (estimated) 19,127 +170 +323 Excess reserves (estimated) 663 + 85 - 20 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 21,949 Treasury cash holdings 766 Treasury currency outstanding 5,066 Member bank) - Required (est.) 19,056 Money in circulation 32,018 reserves ) - Exces s(est.) 84 On December 26, 1956, U. S. Government securities held in custody b ythe Federal Reserve Banks for foreign account were $3,946 million, an increase of $263 million for the week and an increase of $298 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. 26, Dec. 19* Dec. 28, 1956 1956 1955 A S S E TS Gold certificate account 20,394,392 + 27,999 + 258,039 Redemption fund for F. R. notes 874,952 + 441 + 7,111 Total gold certificate reserves 21,269,344 + 28,440 + 265,150 F. R. notes of other Banks 280,511 - 11,469 + 346 Other cash 277,109 - 10,300 - 16,591 Discounts and advances 649,724 - 122,702 + 140,351 Industrial loans 805 - 11 + 93 Acceptances: Bought outright 33,043 + 1,279 + 11,166 Held under repurchase agreement 28,919 + 6,807 + 22,363 U. S. Government securities: Bought outright-- Bills 1,721,270 + 41,500 + 218,574 Certificates 10,932,699 — +5, 012,000 Notes 9,153,913 -«• -5,012,000 Bonds 2,801,750 -— Total bought outright 24,609,632 + 41,500 + 218,574 Held under repurchase agreement 330,600 - 10,000 - 85,300 Total U. S. Government securities 24,940,232 + 31,500 + 133,274 Total loans and securities 25,652,723 - 83,127 + 307,247 Due from foreign banks 22 — W •» «• Uncollected cash items 4,879,847 -1,528,500 - 225,525 Bank premises 73,641 + 242 + 12,434 Other assets 243,897 + 10,615 + 87,848 TOTAL ASSETS 52,677,094 -1,594,099 + 430,909 L I A B I L I T I ES Federal Reserve notes ~~ 27,596,336 + 94,656 + 581,550 Deposits: Member bank reserves 19,140,164 - 695,511 + 250,267 U. S. Treasurer—general account 532,728 - 236,895 + 11,111 Foreign 381,531 23,816 86,195 - - Other 321,470 + 154,438 - 103,798 Total deposits 20,375,893 - 801,784 + 71,385 Deferred availability cash items 3,361,986 - 899,193 - 336,529 Other liabilities and accrued dividends 30,679 + 1,282 + 6,989 TOTAL LIABILITIES 51,364,894 -1,605,039 + 323,395 C A P I T AL A C C O U N TS Capital paid in 325,121 + 272 + 22,760 Surplus (Section 7) 693,612 — — + 32,711 Surplus (Section 13b) 27,543 — — •* •» Other capital accounts 265,924 + 10,668 + 52,043 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,677,094 -1,594,099 + 430,909 Ratio of gold certificat ereserves to deposit and F. R. not eliabilities combined 44.3$ + .1# - Contingent liability on acceptances purchased for foreign correspondents 49,750 1,475 + 16,263 Industrial loan commitments 2.*6l + 1 - 133 dUf MATURITY DISTRIBUTION OF LOANS AND SECURITIES, DECEMBER 26, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximu mmaturity of the agreements.) Discounts and Industrial U. S. Government advances loans Acceptances securities Within 15 days 623,414 -W 35,665 624,650 16 days to 90 days 1,236 4 26,297 6,439,220 91 days to 1 year 25,074 463 15,074,612 Over 1 year to 5 years 270 373,279 Over 5 years to 10 years 1,013,614 Over 10 years Digitized for FRASER - L W U SI http://fraser.s T tl o ou t is a fe l d .org/ 649,724 S05 61,962 24,940,232 Federal Reserve Bank of St. Louis

2.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BAM ON DECEMBER 26. 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 Lo S u t i . s M a i p n o n l e i - s Ka C n it sa y s Dallas Fra S n a ci n s co A S S E TS (In thousands of dollars) Gold certificate account 20,394,392 991,789 5,149,334 1108,112 1906,657 1348,225 891,189 3779,718 831,279 306,836 787,530 677,435 2616,288 Redemption fund for 57,026 F. R. notes 874,952 178,738 63,054 77,869 71,140 51,173 161,000 43,812 22,952 4l,6l4 26,197 80,377 Total gold certificate reserves 21,269,344 1048,815 5,328,072 1171,166 1984,526 1419,365 942,362 3940,718 875,091 329,788 829,144 703,632 2696,665 F.R. notes of other Banks 280,511 15,733 54,798 24,013 12,713 18,795 45,692 26,560 10,562 10,423 9,659 25,796 25,767 Other cash 277,109 17,973 55,964 13,698 19,255 16,701 22,138 43,082 21,827 8,527 11,552 14,171 32,221 Discounts and advances 649,724 24,215 187,335 28,725 95,395 27,040 36,292 127,204 33,010 14,180 34,828 15,775 25,725 Industrial loans 805 312 451 42 Acceptances: Bought outright 33,043 33,043 Held under rep. agree. 28,919 28,919 U. S. Govt, securities: Bought outright— Bills 1,721,270 94,611 433,205 103,432 148,878 105,978 88,507 300,313 71,863 38,879 74,582 68,410 192,612 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 63,283 121.400 111.351 111.518 Total 24,609,632 1352,693 6,193,703 1478,817 2128,561 1515,191 1265,403 4293,692 1027,452 555,858 1066,335 978,085 2753,842 Held under rep. agree. 330.600 330.600 " — — — — — ~ — — —— Total U. S. Govt, sees. 24,940.232 11352,693 6,524,303 1478,817 2128,561 1515,191 1265,403 4293,692 1027.452 555,858 1066,335 978,085 2753.842 Total loans & securities 25,652,723 1377,220 6,773,600 1507,993 2223,956 1542,231 1301,695 4420,896 1060,462 570,080 1101,163 993,860 2779,567 Due from foreign banks 22 1 1/ 6 2 2 1 1 3 1 1 1 1 2 Uncollected cash items 4,879,847 350,250 949,286 316,988 442,007 458,608 382,716 786,407 192,917 126,230 233,406 212,321 428,711 Bank premises 73,641 5,361 9,389 4,782 7,668 7,331 4,687 5,877 4,463 4,953 4,346 3,917 10,867 Other assets 243,897 12,992 6o,l4l 14,307 , 21,135 14,801 12,919 44,215 9,951 5,492 10,362 10,337 27,245 TOTAL .ASSETS 52,677,094 2828,345 13,231,256 3052,949 4711,262 3477,833 2712,210 9267,758 2175,274 1055,494 2199,633 1964,035 6001,045 1/ After deducting $16,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

B.4.1(c) S1!A')YwEb'£ OF COf'DiflON OF EACH FEDERAL RESERVE BANK ON DECEMBER 26, 1956 Phila- Cleve- St. Minne- Kansas San Total Boston New York delphia land Richmond Atlanta Chicago Louis apolis City Dallas Francisco " " L I A B I L I T I ES (In thousands of dollars) Federal Reserve notes 27,596,336 1638,543 6,416,535 1772,071 2608,590 2195,901 1380,220 5292,403 1217,651 500,342 1076,793 731,319 2765,968 Deposits: 729,498 849,896 Member bank reserves 19,140,164 780,751 5,514,041 920,714 1590,784 940,180 3135,851 729,426 389,763 952,906 2606,354 U.S.Treas.-gen. acct. 532,728 45,292 85,033 41,467 45,068 42,309 31,622 68,763 22,310 24,030 24,407 37,282 65,145 18,717 38,560 Foreign 381,531 21,653 1/119,468 26,424 33,397 18,717 16,148 51,380 13,946 9,175 13,946 2,626 6,300 1,760 7,342 1,341 1,454 Other 321,470 6,513 201,279 11,091 37,557 3,738 40,469 Total deposits 20,375,893 854,209 5,919,821 9997^96"1671,875" 828,081 994,250 3257,754 ' 773,024 424,309 889",703" 1012,643 2750,528 Deferred availability cash items 3,361,986 257,487 524,213 187,874 310,784 382,797 275,437 520,584 132,642 96,852 179,644 153,644 340,028 Other liabilities and accrued dividends 30,679 1.261 9,305 1,391 2,818 1,359 1,214 6,343 994 1^027 1,011 1,325 2,631 TOTAL LIABILITIES 51,364;894 2751;500"l2^97B74 2961,032 $594,c5f 34o57l38~2S51,121 9077,084 2124™311 1022,530 2147,151 1W7931 5%59Tl55 CAPITAL ACCOUNTS 16,635 93,984 20,629 31,046 11,048 7,178 13,016 18,012 Capital paid in 325,121 14,757 15,478 44,327 39,011 41,667 195,827 49,491 62,563 35,012 30,841 101,894 27,649 17,586 25,960 33,84? Surplus (Section 7) 693,612 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,l4o Other capital accounts 265,924 15,512 64,252 17,308 22,580 16,577 14,008 43,024 11,745 7,127 12,369 11,938 29,464 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 52,677,094 2828,345 13,231,256 3052,949 4711,262 3477,833 2712,210 9267,758 2175,274 1055,494 2199,633 1964,035 6001,045 Conting. liab. on acceptances purchased for 1,892 1,245 1,892 foreign correspondents 49,75Q 2,938 2/14,193 3,586 4,532 2,540 2,191 6,972 2,540 5,229 Industrial loan commit. 2,*61 19 121 101 -1x930 a.i'A? FEDERAL RESERVE AGENTS' ACCOUNTS ' «^7T F. R. notes outstanding 28,533,455 1*582,9l4™"57650,75T~T859,975 "265V56*l 22S^,47Bnm277S7-5395,594"i270,55d 552,951 no«,3^4 771,527 2091,097 Collat. for. F. R. notes: 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 Gold certificate acct. 11,918,00C 26,925 -- -- -- -- 32,060 -- 33,878 Eligible paper 92,863 1200,000 3,600,000 1200,000 1550,000 1350,000 1000,000 3200,000 900,000_ 460,000 800,000 525,000 U. S. Govt, securities 17,285,00C 1500,000 1780%000 6,7707000 1886,925 2580,000 22957000 1450,000 5500,000 1382,060 610,000 1133,878 808,000 3000,000 Total collateral 29,295,865 l/ After deducting $262,038,000 participations of other Federal Reserve Banks. 2/ After deducting $35,557,000 participations of other Federal Reserve Banks. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis