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H.4.1 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM For Immediate Release August 2, 1956 WEEKLY AVERAGES OF MEMBER BANK RESERVES, RESERVE B A M CREDIT, AND RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The weekly average of member bank reserves for the week ending August 1 decreased $153 million to $18,591 million. Estimated required reserves decreased $94 million; and estimated excess reserves decreased $59 million to $485 million. Member bank borrowings at the Federal Reserve Banks exceeded excess reserves by $205 million, compared with $29 million the week before. The principal changes reducing reserves were a decrease of $347 million in Federal Reserve float and an increase of $2? million in "other" F. R. accounts (net). The principal offsetting changes were increases of $117 million in member bank borrowings and $10 million in Federal Reserve holdings of U. S. Government securities, and decreases of $57 million in money in circulation and $37 million in Treasury deposits with Federal Reserve Banks. Total Reserve Bank credit decreased $221 million. As of Wednesday, August 1, holdings of U. S. Government securities bought outright were $51 million higher than a week earlier and member bank borrowings were $39 million lower. Member bank reserves, Reserve Bank credit, and related items Reserve Bank credit: U. S. Government securities— Bought outright--System account Held under repurchase agreement Acceptances—bought outright Loans, discounts, and a d v a n c e s Member bank borrowings Other Float Total Reserve Bank credit Gold stock Treasury currency outstanding Weekly averages of daily figures Change from week ending Week ending July 25, 1956I Aug. 3, 1955 Aug. 1, 1956 (In million of dollars) + 10 -564 - 62 + 7 690 +117 1 1,046 25,172 21,829 5,034 52,035 -347 -221 + 1 + 2 -218 - 51 - 39 +244 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) 30,575 772 519 284 273 1,021 33,444 + + - 57 1 37 4 6 27 66 +338 - 31 -119 Member bank r e s e r v e s Required reserves (estimated) Excess reserves (estimated) 18,591 18,106 485 -153 - 94 - 59 -319 -214 -105 23,418 18 +147 + 31 ^288 -138 -139 +121 + 31 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 21,829 Treasury cash holdings 773 Treasury currency outstanding 5,034 Member bank) - Required (est.) 18,084 Money in circulation 30,571 reserves ) - Excess (est.) 238 On August 1, 1956, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account were $3,679 million, a decrease of $17 million for the week and an increase of $389 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 Aug. 3, July 25, 1955 1956 Aug. 1, 1956 A S S E T S Gold certificate account Redemption fund for F. R. notes Total gold certificate reserves F. E. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U, S. Government securities: Bought outright— Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government securities 20,296,391 854,781 21,151,172 335,440 397,150 422,085 961 17,113 + 12,999 + 1,207 11,792 - 10,083 - + 4,995 39,303 - + 52 3 - 51,000 + 529,370 10,932,699 9,153,913 2,801,750 23,417,732 + 23,417,732 + 23,857,891 + — - - + + + + - + + 731,776 +8,412,623 -8,245,623 — — — — 51,000 - 564,776 51,000 - 564,776 11,746 -1,083,309 - 25,809 202,003 50,604,619 + + + 11,252 + + + 26,363,978 + 37,504 + 18,322,293 504,852 294,750 + 6,935 85,776 32,950 5,983 39,908 94,187 18 91,801 565,350 178,974 133,823 133,257 -1,011,404 + 482,806 — Total loans and securities Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 135,287 21,644 156,931 113,724 2,078 524,840 490 5,817 22 4,591,256 69,685 " 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 266,863 + + 19,388,758 3,630,493 13,903 49,397,132 + + + C A P I T A L A C C 0 U N T S Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 317,468 693,612 27,543 168,864 50,604,619 Ratio of gold certificate reserves to deposit and F. R. note liabilities combined Contingent liability on- acceptances purchased for foreign correspondents Industrial loan commitments - - - - 179 4,072 4" 297 - - 161 - 134,189 + - - + - 21,074 32,711 - - 88,026 4,072 + 394,570 • - - 46.2# 47,922 2.420 - 740,240 11,974 2,391 55,971 1,754 + - 24,433 55,971 + .9# + 22,817 839 - MATURITY DISTRIBUTION OF LOANS A M ) SECURITIES. AUGUST 1, 1956 (Acceptances and securities held tinder 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 Over 10 years Digitized forTotal FRASER Discounts and advances 417,454 4,388 243 422,085 Industrial loans 1 172 Acceptances 5,791+ 11,319 457 331 m 17,113 U. S. Government securities 115,420 413,950 19,372,764 1,087,127 1,013,614 1,414,857 23,417,732 H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1956 (in thousands of dollars) PhilaCleve- Richmond Atlanta Chicago St. Boston New York delphia land Louis Total A S S E T S Gold certificate account Redemption fund for F. R . notes Total gold certificate reserves 20,296,391 949,848 854.781 ,59,999 21,151,172 1006,847 5,329,530 1094,690 1828,672 1259,271 176.783 61.404 74.152 71.400 5,506,313 1156,094 1902,824 1330,671 F.R. notes of other Banks Other cash 335,440 397,150 27,373 29,129 47,350 86,340 Discounts and advances Industrial loans Acceptance s Bought outright U. S. Govt, securities: Bought o u t r i g h t — Bills Certificates Notes Bonds Total Held under repurchase agreement 422,085 961 18,158 39,705 Minneapolis Kansas City Dallas 842,143 359,336 848,734 794,818 2464,283 154.525 42.856 23.240 42.426 961,275 3769,156 884,999 382,576 891,160 11,918 17,574 14,277 31,228 47,048 18,493 11,450 910,435 3614,631 50.840 8,665 25.840 San Francisco 72.316 820,658 2536,599 26,080 37,489 29,725 20,628 50,346 33,524 25,115 59,710 11,522 24,191 21,704 9,830 35,905 26,149 24,775 94,275 27,575 20,785 51 56,850 529,370 29,097 10,932,699 6 0 0 , 9 2 7 9,153,913 503,154 2,801.750 154,001 23,417,732 1287,179 31,810 133,230 27,221 45,787 92,360 32,593 2,751,520 656,957 945,602 673,115 562,148 1907,450 2,303,839 55P,068 791,749 563,597 4 7 0 , 6 8 5 1597,102 705,139 168.360 242.332 172.501 144.063 488.827 5,893,728 1407,195 2025,470 1441,806 1204,117 4085,739 22,101 456,440 382,176 116.973 977,690 11,957 246,937 206,759 22,937 473,714 396,639 121.400 63.283 528,936 1014,690 21,039 59,238 434,509 1223,380 363,813 1024,332 111.353 313,518 930,714 2620,468 Total U. S» Govt, sees. 23,417,732 1287,179 5,893,728 1407,195 2025,470 1441,806 1204.117 4085,739 977,690 528.936 1014.690 930,714 2620.468 Total loans & securities 23,857,891 1305,637 5,950,546 1455,770 2061,375 1467,955 1 2 2 8 , 8 9 2 4l8o,oi4 1 0 0 5 , 2 6 5 549,772 1071,540 949,207 2631,918 Due from foreign banks Uncollected cash- items Bank premises Other assets TOTAL ASSETS 300 17,113 22 4,591,256 69,685 202.003 38,758 23,066 47,965 610 17,113 1 373,715 5,417 10.736 1/6 857,352 8,602 49.069 2 274,806 4,893 11.819 2 408,979 7,254 17.526 1 340,919 6,792 12.169 1 313,853 3,998 11.218 3 782,859 5,948 37.250 1 181,151 3,886 8,152 1 119,405 4,459 4.491 1 260,577 4,123 8.560 1 207,444 3,344 8.646 2 470,196 10,969 22.367 50,604,619 2760,855 12,505,578 2965,208 4461,529 3208,860 2603,107 8860,055 2119,167 1092,238 2256,544 2021,151 5750,327 l/ After deducting $16,000 participations of other Federal Reserve Banks. 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 26,363,978 STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1956 (in thousands of dollars) St. Phila- CleveRichmond Atlanta Chicago New York I Boston Louis | delphia land 1590,597 6,042,903 1742,994 2,573 19,385/75% "825,76b 5,173,463 62,435 1/ 92,663 194,133 5,522,694 271,776 602,846 18,322,293 504,852 294,750 266,863 3,630,493 13,903 49,397,132 776,796 29,702 16,697 2462,985 2006,708 1307,678 5108,725 899,800 45,889 2900,497 Conting. liab. on acceptances purchased for foreign correspondents Industrial loan commit. F. R. notes outstanding Collat. for F. R. notes: Gold certificate acct. Eligible paper U. S. Govt, securities Total collateral 91,837 317,468 16,307 41,667 195,827 27,543 168,864 10,808 38,636 14,433 3,402 853,113 39,620 2,314 959,637 3002,299 744,911 228,226 284,443 279,581 149,076 101,980 350,240 804,215 31,063 59,868 12,452 1,496 574,644 20,415 49,491 4,489 11,771 14,566 35,012 3,349 14,740 42,408 30,841 101,894 15,051 11,089 4461,529 3208,860 2603,107 8860,055 30,321 680,811 46,424 10,754 6,922 198,444 182,086 2443,998 41,447 29,740 38,043 2553,228" 407,151 10,898 7,050 17,586 12,737 17,445 38,744 25,960 33,847 71,275 8,215 1,137 1,307 7,651 16,590 2119,167 1092,238 2256,544 2021,151 5750,327 1,820 2,128 2,443 5,030 1649,094 6,228,138 1821,147 2554,815 2066,042 1365,435 5196,386 1229,835 557,241 1075,4l4 740,389 2796,214 3,011 7,319 2,826 2/ 13,721 62,563 1,006 762 9,263 2,443 2,108 4,359 164 FEDERAL RESERVE AGENTS' ACCOUNTS 3,449 21 1,429 25,760 6,706 107 27,649 521 8,426 1,820 11,498,000 580,000 2,870,000 650,000 1090,000 845,000 500,000 2300,000 450,000 47,965 -— — 27,575 132,390 1200,000 3,600,000 1200,000 1500,000 1300,000 1000,000 3000,000 900,000 16,985,000 28,615,390 17BO,WO^7W67cooT897",96^^590,000 2145,000 1500,000 5300,000 1377,575 1 / After deducting $202,062,000 participations of other Federal Reserve Banks. 2/ After deducting $34,201,000 participations of other Federal Reserve Banks, San Francisco 1177,223 510,421 1049,006 704,711 2660,027 23,114 25,753 10,602 3,020 907,127 1537,615 24,l8o 20,376 50,604,619 2760,855 12,505,578 2965,208 27,280,150 Dallas 921 3,516 695 1,748 580 605 2,896 463 J4? .536 422_ 1,172 258^bFi2n?7ilWW97^TB^,5B83IW;8ilT^,50i~B6BS756£ 2071,673 1060,925^20^,^95 19607901 3621,578 693,612 47,922 2,420 Kansas City 395,581 897,345 1012,090 44,365 50,524 45,841 7,075 10,754 14,433 1,154 1,886 1,318 455;175" 960,509 1073,"682 851,969 1485,728 CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Minneapolis 1,073 5,604 1,197 2,140 150,000 280,000 283,000 1500,000 — 56,850 460,000 800,000 525,000 1500,000 610,000 1136,850 808,000 3000,000
@FedFRASER