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H.4,1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release April 26, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE BANK CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending April 25 decreased $25 million to $18,884 million. Estimated required reserves increased $19 million; and estimated excess reserves decreased $44 million to $598 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $462 million, compared with $467 million the week before. The principal changes reducing reserves were decreases of $117 million in Federal Reserve holdings of U. S. Government securities and $49 million in member bank borrowings, and an increase of $ 3 8 million in Treasury deposits with Federal Reserve Banks. The principal offsetting changes were decreases of $135 million in money in circulation and $12 million in foreign deposits with Federal Reserve Banks, and an increase of $44 million in Federal Reserve float. Total Reserve Bank credit decreased $123 million. As of Wednesday, April 25# holdings of U. S. Government securities bought outright were $108 million lower than a week^earlier, and member bank borrowings were $54 million higher. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securitiesBought outright--System account Held under repurchase agreement Acceptances-Bought outright Held under repurchase agreement Loans, discounts, and advances-Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Weekly averages of daily figures Week ending Change from week ending Apr. 25, 1956 Apr. 18, 19561Apr. 27, 1955 (In millions of dollars) 23,282 14 -1,060 1 1,017 25,374 21,742 5,019 52,134 - 95 - 22 -322 - - 1 - - - 49 «- — + 44 -123 + 1 + 1 ^122 Money in circulation Treasury cash holdings Treasury deposits with F. R. Banks Foreign deposits with F. R. Banks Other deposits with F. R. Banks Other F. R. accounts (net) 30,155 782 569 335 331 1,078 33,250 - 3 - 97 Member bank reserves-Required reserves (estimated) Excess reserves (estimated) 18,884 18,286 598 - 25 + 19 - 44 -135 - 3 + 38 - 12 + 18 — 5 2 +598 - 81 +156 + 71 + 21 +435 +469 - 31 + 28 - 32 -107 +100 + 7 + 26 -19 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 21,742 Treasury cash holdings 784 Treasury currency outstanding 5,021 Member bank) - Required (est.) 18,260 Money in circulation 30,077 reserves ) - Excess (est.) 227 On April 25, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,795 million, an increase of $16 million for the week and an increase pf $682 million from the comparable date a year ago. H.4.1(a) STATEMENT OF CONDITION OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (In thousands of dollars) Change since Apr. 18, Apr. 27, 1956 1955 Apr. 25, 1956 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances: Bought outright Held under repurchase agreement U. S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,205,986 844,886 21,050,872 340,899 396,692 857,395 955 13,668 + + + + 10,000 7,225 2,775 29,706 14,498 54,253 79 W 1,303 - + - - 363,470 10,932,699 9,153,913 2,801,750 23,251,832 —— 23,251,832 Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,123,850 22 4,603,911 65,388 149,675 50,731,309 L I A B I L I T I E S Federal Reserve notes "" Deposits: Member bank reserves U. S. Treasurer--general account Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 25,887,133 18,487,476 570,828 337,053 312,706 19,708,063 3,846,918 17,913 49,460,027 C A P I T A L A C C O U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 313,595 693,612 27,543 236,532 50,731,309 46.2# Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on acceptances purchased for foreign correspondents Industrial loan commitments 42,930 2.445 - - . + ~ + - 4,434 1,098 — — - 805,558 • 352,774 - 352,774 107,600 519,774 972,558 — «• 107,600 96,402 - - - - - ~ 2,174 65,709 111,425 2,990 371,201 293 + - + + + + + + -- 653,724 79 15,007 651,700 + + - 67,883 107,600 54,571 ~ + 247,223 126,871 18,633 3,963 135,022 428,924 198 660,150 + 13,188 + 350,482 4" 9,342 1,228 + t 554,364 + 471,882 + 166,741 52,112 47,139 98,064 364,056 339,535 92 447,269 «• + - + 109 + + 21,563 32,711 + - 8,261 651,780 + + 52,821 554,364 + .3$ + .1$& 3,917 82 + 15,210 951 -- - - - MATURITY DISTRIBUTION OF LOANS AND SECURITIES, APRIL 25, 1956 (Acceptances and securities held under repurchase agreement are classified as maturing within 15 days in accordance with maximum maturity of the agreements.) Within 15 days 16 days to 90 days 91 days to 1 year Over 1 year to 5 years Over 5 years to 10 years 10 years DigitizedOver for FRASER Total Discounts and advances 850,870 Industrial loans 6,525 437 148 370 857,395 95? Acceptances 3,314 10,354 13,668 U. S. Government securities 62,400 301,070 19,372,764 1,087,127 1,013,614 1.414.857 23,251,832 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 25, 1956 H.It. 1(b) Total New York Boston Cleveland Philadelphia Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco A S S E T S Gold certificate account 20,205,986 Redemption fund for 844,886 F. R. notes Total gold certificate reserves 21,050,872 F.R. notes of other Banks Other cash 340,899 396,692 Discounts and advances Industrial loans Acceptances-Bought outright U. S. Govt, securities: Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 857,395 955 Total U. S. Govt, sees. 51,587 1010,117 16,038 5,455,133 1198,174 1794,100 1227,107 897,841 3427,520 835,802 380,797 832,323 709,899 2488,760 173,077 58,338 30,480 29,248 18,620 28,450 19,055 113,225 31,595 59,930 300 600 52,142 157,135 43,648 23,461 17,935 20,130 73,281 33,626 27,499 60,864 10,935 24,944 5,226 23,780 35,627 390,435 35,875 51,350 55 24,764 26,312 73,776 8,716 12,423 17,084 17,661 29,544 46,668 39,736 47,687 9,100 15,175 8,210 15,749 456,440 246,937 473,714 382,176 206,759 396,639 116,973 63,283 121,4oo 970,764 525,189 1007,502 14,446 434,509 363,813 111,353 924,121 1024,332 313,518 2601,903 970,764 924,121 2601,903 9,153 19,978 91,476 21,841 600,927 2,751,520 656,957 503,154 2,303,839 550,068 9,153,913 705,139 168,360 2,801,750 154,001 23,251,832 1278,060 5,851,974 1397,226 1278,060 22,379 18,690 63,415 673,115 562,148 1907,450 791,749 563,597 470,685 1597,102 242,332 172,501 144,063 488,827 2011,121 1431,592 1195,586 4056,794 31,438 945,602 5,851,974 1397,226 2011,121 1431,592 1195,586 4056,794 525,189 1007,502 40,673 1223,380 1297,415 5,978,867 1429,421 2071,051 1455,372 1231,213 4447,229 1006,639 576,594 1047,238 971,808 2611,003 1 392,966 5,515 7,495 1/6 2 2 1 1 3 1 1 1 1 835,101 263,632 411,957 365,441 374,503 707,847 189,600 108,722 214,356 260,993 3,612 3,875 2,464 3,516 6,151 4,029 6,022 8,075 4,960 6,558 3,209 6,137 7,146 8,660 8,216 26,308 5,709 34,736 8,258 12,345 50,731,309 2758,795 12,659,297 3011,885 44l6,ll6 3178,279 2674,852 8860,427 2120,794 1110,775 TOTAL ASSETS 1/ After deducting $ 1 6 , 0 0 0 participations of other Federal Reserve Banks. 41,039 13,668 363,470 22 4,603,911 65,388 149,675 70,653 5,628,210 1256,512 1867,818 1297,760 949,983 3584,655 879,450 404,258 873,362 736,211 2562,536 10,932,699 23,251,832 73,718 79,397 94,905 13,668 Total loans & securities 24,123,850 Due from foreign banks Uncollected cash items Bank premises Other assets 958,530 2 478,793 10,611 21,456 2166,108 2013,368 5760,613 H.4.1(c) Total L I A B I L I T I E S Federal Reserve notes Deposits: Member bank reserves U.S.Treas.-gen. acct. Foreign Other Total deposits Deferred availability cash items Other liabilities and accrued dividends TOTAL LIABILITIES 25,887,133 18,487,476 570,828 337,053 312,706 19,708,063 3,846,918 17,913 49,460,027 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON APRIL 25, 1956 (In thousands of dollars) St. PhilaCleveChicago Atlanta Richmond New York delphia Boston Louis land 1550,285 5,907,588 1754,068 2417,043 1955,121 1295,329 5028,184 1186,622 755,027 5,283,095 101,612 43,008 1/104,264 19,234 3,048 ~ 242,546 820,317 5,731,517 311,717 664,022 875,795 1469,199 789,037 42,367 30,2.18 35,968 16,626 29,666 23,472 1,212 3,070 9,451 851,100 944,686 1530,295 928,143 2948,871 62,659 47,715 45,640 14,344 1,586 1,711 991,913 3058,75b 222,382 328,385 352,777 303,945 667,120 37,664 12,388 6,685 723,857 586,671 159,910 Minneapolis Kansas City 513,786 1021,541 411,777 44,258 8,150 744 464,929 Dallas San Franciscc 678,402 2579,164 852,361 48,627 979,598 2527,453 42,745 33,987 12,388 16,626 34,255 989 909 40,755 914,365 1039,878 2636,450 98,618 178,804 231,842 407,845 660 3,001 880 881 1,986 617 1,680 4,646 859 677 739 1,287 2683,606 12,307,773 2922,017 4302,101 3111,025 2616,366 8676,612 2071,00b 1077,993 2115,387 1951,002 5625,139 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AMD CAPITAL ACCOUNTS Contin. liab. on acceptances purchased for foreign correspondents Industrial loan commit. 313,595 693,612 27,543 236,532 50,731,309 42,930 2,445 16,352 41,667 3,011 14,159 91,220 195,827 7,319 57,158 2758,795 12,659,297 2,531 — «• 20,052 29,841 49,491 4,489 15,836 20,605 62,563 1,006 14,325 35,012 3,349 14,568 14,412 30,841 762 12,471 41,756 101,894 1,429 38,736 10,762 27,649 521 10,856 6,997 17,586 1,073 7,126 12,595 25,960 1,137 11,029 17,003 33,847 1,307 10,209 38,280 71,275 2,140 23,779 3011,885 4416,116 3178,279 2674,852 8860,427 2120,794 1110,775 2166,108 2013,368 5760,613 1,888 6,006 2,188 3,904 3,089 - — — — — 245 72 FEDERAL RESERVE AGENTS' ACCOUNTS 6,158,120 1837,975 2516,231 2017,324 1356,608 5120,253 2/ 12,300 - - 1,630 — «•» 1,072 - - 1,630 2,128 2,188 — - 4,504 - - 1238,208 566,054 1052,060 720,618 2714,458 F. R. notes outstanding 26,902,288 1604,378 Collat. for F. R. notes: Gold certificate acct. 11,413,000 640,000 2,870,000 725,000 1070,000 845,000 500,000 2100,000 450,000 150,000 280,000 283,000 1500,000 — - — — — — — - 39,736 Eligible paper 100,206 35,875 24,595 800,000 525,000 1500,000 U. S. Govt, securities 17,035,000 1200,000 3,600,000 1200,000 1500,000 1250,000 1000,000 3100,000 900,000 460,000 28,548,206 .! 1840,000 6,470,000 1949,595 2570,000 2095,000 1500,000 5200,000 1385,875 610,000 1119,736 808,000 3000,000 Total collateral - - l/ After deducting $232,764,000 participations of other Federal Reserve Banks, 2/ After deducting $30,630,000 participations of other Federal Reserve Banks,
@FedFRASER