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BOARD OP GOVERNORS ; OF THE FEDERAL RESERVE SM#M H.4.1 For Immediate Release August 23, 19$6 WEEKLY AVERAGES OF MEMBER BANK RESERVES.. RESERVE-BANK CREDIT, AMD RELATED ITEMS and STATEMENT OF CONDITION OF THE FEDERAL RESERVE BANKS The average of daily figures of member bank reserves f o r the week ending August 22 increased $524 million to $19,117 million. Estimated required reserves increased $428 million; and estimated excess reserves increased $96 million to $655 million. Member bank borrowings a t the Federal Reserve Banks exceeded excess reserves by $223 million, compared with $401 million the week before. The principal changes supplying average reserves were increases of $334 million in Federal Reserve f l o a t and $135 million in Federal Reserve holdings of U. S. Government s e c u r i t i e s , and decreases of $54 million in Treasury deposits with Federal Reserve Banks, $42 million in foreign deposits with Federal Reserve Banks, and $27 million in money in circulation. The principal o f f s e t t i n g change was a decrease of $82 million in member bank borrowings. Total Reserve Bank credit increased $388 million. As of bought outright securities held borrowings were Wednesday, August 22, holdings of U. S. Government s e c u r i t i e s were $127 million higher than a week e a r l i e r , U. S- Government under repurchase agreement were $147 million lower, and member bank $26 million lower. Member bank reserves, Reserve Bank credit, and related1 Iitems • H |> n Reserve Bank credit: U. S. Government securities— Bought 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 Averages of daily figures For week ending Change from week ending Aug. 22, 1956 Aug. 15. 19561 Aug. 24, 1955 (In millions of dollars) 23,446 128 17 * 878 1 1,171 25,642 21,856 5,037 52,536 + 28 +107 » — + * - 82 ±334 mm + 1 +390 -350 +128 + 2 + * +189 - 35 +280 +217 +174 +, 32 +424 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) 30,654 778 485 293 266 944 33,419 + - 27 5 54 42 11 3 -134 +366 Member bank reserves— Required reserves (estimated) Excess reserves (estimated) * Less than $500,000. 19,117 18,462 655 +524 +S2B +444 +362 + 82 + 96 - 25 -109 -122 -127 - 2 - 21 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 a r e , in millions of d o l l a r s : Gold stock 21,657 Treasury cash holdings 782 Treasury currency outstanding 5,046 Member bank) - Required ( e s t . ) 18,465 Money in circulation 30,611 reserves ) - Excess (est.) 294 On August 22, 1956, U. S. Government securities held in custody by the Federal Reserve Banks f o r foreign account were $3*676 million, a decrease of $39 million f o r the week and an increase of $292 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. 24, Aug. 15, 1956 Iff? Aug. 22, 1956 ASSETS Gold c e r t i f i c a t e account Redemption fund f o r F. R. notes Total gold c e r t i f i c a t e reserves F. R. notes of other Banks Other cash Discounts and advances Industrial loans Acceptances—bought outright U. S. Government s e c u r i t i e s : Bought outright-Bills Certificates Notes Bonds Total bought outright Held under repurchase agreement Total U. S. Government s e c u r i t i e s 930 17,114 + - 1 175 176 13,611 11,450 26,014 3 1 655,870 10,932,699 9,153,913 2,801,750 23,544,232 + 126,500 20,321,392 850,253 21,171,645 332,247 395,035 806,186 23,544,232 Total loans and s e c u r i t i e s Due from foreign banks Uncollected cash items Bank premises Other assets TOTAL ASSETS 24,368,462 22 4,645,788 70,310 238,029 51,221,?38 LIABILITIES Federal Reserve notes Deposits: Member bank reserves U. S. Treasurer—general account Foreign Other Total deposits Deferred a v a i l a b i l i t y cash items Other l i a b i l i t i e s and accrued dividends TOTAL LIABILITIES - + + - - « - m + • CAPITAL ACCOUNTS Capital paid in Surplus (Section 7) Surplus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS 317,813 693,612 27,543 1?7,067 51,221,538 - + + + + + + - 418,476 +8,412,623 -8,245,623 - 251,476 - 251,476 + 124,310 - - - - + + + - - 186,039 1,002 185,037 96,167 28,525 372,713 403 2,670 — 126,500 147,400 20,900 46,912 26,394,786 18,758,924 553,518 303,843 252,042 19,868,327 3,706,144 16,246 49,985,503 + 67 10,571 624,144 + 821,321 + 12,222 + 77,511 +1,345,093 23,542 + 451,109 2,978 1,333 15,318 24*481 + 544,236 31,644 - 106,091 - 124,656 + 281,845 + 524,206 + 1,657 +1,258,817 612,755 10,808 598,787 , 578 633,715 66 •dm + + 21,161 32,711 + _ _ a2*404 +TT34 hm Ratio of gold c e r t i f i c a t e reserves to deposit and F. R. note l i a b i l i t i e s combined 45.8# Contingent l i a b i l i t y on acceptances purchased 2,007* + for foreign correspondents 52,412 + 25,272 852 10 Industrial loan commitments 2,?07 + * August 15 figure revised. MATURITY DISTRIBUTION OF LOANS AND SECURITIES. AUGUST 22, 1956 (Acceptances and s e c u r i t i e s held under repurchase agreement are c l a s s i f i e d 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 t o 5 years Over 5 years to 10 years Over 10 years Total Discounts and advances 786,914 19,085 187 SoSTISS Industrial loans 2 163 444 321 930 U. S. Government securities Acceptances 201,250 5,442 ' " 454,620 11,672 19,372,764 1,087,127 1,013,614 1.414,857 23,544,232 17,114 H.4.1(b) Total STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 22, 1956 (In thousands of dollars) St. Cleve- Richmond Atlanta Chicago PhilaBoston New York delphia Louis land ASSETS Gold c e r t i f i c a t e account 20,321,392 932,388 Redemption fund f o r 58,774 850,253 F. R. notes Total gold c e r t i f i c a t e -reserves 21,171,645 991,162 5,359,199 1097,893 1781,256 1266,495 175,840 60,997 73,750 70,141 5,535,039 1158,890 1855,006 1336,636 910,445 3737,210 798,790 50,611 154,088 42,727 961,056 3891,298 841,517 Minneapolis Kansas City Dallas San Francisco 355,009 859,851 714,754 2508,102 23,200 42,325 25,760 72,040 378,209 902,176 740,514 2580,142 F.R. notes of other Banks Other cash 332,247 395,035 32,020 29,586 54,447 88,413 43,051 26,511 18,194 40,182 22,988 19,254 48,553 31,358 21,306 53,291 10,430 23,663 19,863 9,063 9,738 12,007 17,805 14,284 33,852 47,423 Discounts and advances I n d u s t r i a l loans Acceptances— Bought o u t r i g h t U. S. Govt, s e c u r i t i e s : Bought outright— Bills Certificates Notes Bonds Total Held under repurchase agreement 806,186 930 28,729 300 256,260 41,245 580 98,760 45,604 22,450 187,515 23,100 29,556 50 35,687 21,230 16,050 - - - - —- Total U. S. Govt, sees. 17,114 17,114 39,411 165,067 36,050 655,870 10,932,699 600,927 2,751,520 656,957 9,153,913 503,154 2,303,839 550,068 705,139 168(360 2.801.750 154,001 23,544,232 1294,132 5,925,565 1414,796 23,544,232 1294,132 56,728 945,602 791,749 242,332 2036,411 14,815 28,419 40,382 33,725 114,430 27,383 673,115 562,148 1907,450 456,440 246,937 473,714 1597,102 382,176 206,759 396,639 563,597 63,283 121,400 488.827 116,973 172,501 531,794 1020,172 982,972 1449,595 1210,621 4107,809 5,925,565 1414,796 2036,411 1449,595 1210,621 4107,809 982,972 Total loans & s e c u r i t i e s 24,368,462 1323,161 6,198,939 1456,621 2135,171 1495,199 1233,071 4295,324 1006,072 Due from f o r e i g n banks Uncollected cash items Bank premises Other a s s e t s TOTAL ASSETS 1 / Aforf tFRASER e r deducting Digitized 1 22 4,645,788 385,503 5,418 70,310 238,029 12,840 1/ 6 2 2 l 8 3 7 7 m 302,878 420,305 358,387 8,612 4,893 7,276 6,984 57,819 13,985 20,434 14,492 531,794 1020,172 26,067 434,509 363,813 111,353 935,742 73,393 1223,380 1024,332 313,518 2634,623 935,742 2634,623 561,400 1055,859 956,972 2650,673 1 1 1 2 1 3 1 335,607 727,520 181,918 116,205 234,967 255,913 489,474 3,997 ,5,951 4,064 ^ i k l : A S M S : ® 13,099 43,496 9,642 51,221,538 2779,69112,780,386 3006,831 4496,570 3253,941 2626,742 9038,189 2077,307 1094,677 2229,050 1999,194 5838,960 $16,000 p a r t i c i p a t i o n s of other Federal Reserve Banks. H. 4. 1(G) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 22, 1956 (In thousands of dollars) Total Boston | New York ^leve- Richmond Atlanta j Chicago ^ ™ e - Dallas V r a ^ m c a 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 26,394,786 1583,941 6,064,452 1732,104 2464,963 2 0 2 1 , 6 9 1 1302,489 5 1 2 8 , 3 1 7 1175,296 505,467 1047,735 706,340 2 18,758,924 795,361 5,417,047 8 8 8 , 9 7 6 1 4 9 2 , 2 4 1 8 6 8 , 8 3 8 3 4 , 1 0 1 40,498 3 I 553,518 30,057 303,843 1 6 , 9 9 2 1 / 9 8 , 1 8 6 2 0 , 7 3 6 2 6 , 2 0 8 1 4 , 6 8 8 252,042 3,149 178,989 1 1 , 0 4 0 1,235 2 , 2 0 19,868,327 845,559 5,763,060 954,853 1560,182 870,944 3,706,144 2 7 5 , 8 0 2 1 7 , 9 8 2 9 1 1 , 2 2 2 2 9 9 0 , 4 4 ? 6 6 2 6 , 0 6 6 5 6 , 1 3 4 1 1 1 , 6 4 4 2 1 , 1 2 , 6 7 2 40,320 1 0 , 9 4 4 7 , 2 0 0 1 0 8 1,374 1,401 7 , 5 5 6 1 , 0 8 9 1 , 0 7 9 4l8,8l8 6 6 4 2 8 , 7 0 , 9 4 4 1 4 , 6 8 8 , 5 4 6 1,331 8 9 4 , 5 8 3 6 , 3 0 , 2 6 5 4 1 , 1 981,402 3143,812 702,243 455,815 943,116 1005,651 2641,690 6 0 7 , 6 5 3 2 3 1 , 1 6 1 3 5 8 , 4 1 4 2 9 4 , 8 1 8 2 8 5 , 1 1 0 5 8 6 , 3 6 7 1 5 0 , 6 4 5 100,793 1 8 8 , 2 1 2 2 2 5 , 0 7 7 4 0 2 , 0 9 2 16,246 1 , 1 1 8 4,223 763 1,585 776 796 3 , 0 4 6 5 2 0 684 6 0 8 751 1,376 49,985,503 2706,420 12,439,388 2918,881 4385,144 3188,229 2569,797 8861,542 2028,704 1062,759 2179,671 1937,819 5707,149 CAPITAL ACCOUNTS •gapital paid in StKcplus (Section 7 ) =Smg?lus (Section 13b) Other capital accounts TOTAL LIABILITIES AND CAPITAL ACCOUNTS Conting. liah. on acceptances purchased for foreign correspondents Industrial loan commit. 317,813 693,612 27,543 197,067 16,355 91,867 41,667 195,827 3,011 7,319 1 2 , 2 3 8 45,985 20,434 49,491 4,489 13,536 30,356 14,595 14,767 42,436 1 0 , 9 0 6 7 , 0 5 6 12,778 6 2 , 5 6 3 3 5 , 0 1 2 30,841 101,894 27,649 1 7 , 5 8 6 1 , 0 0 6 3,349 7 6 2 1,429 521 1,073 1,137 17,501 12,756 10,575 3 0 , 8 8 8 9,527 6 , 2 0 3 9,504 51,221,538 2779,691 1 2 , 7 8 0 , 3 8 6 3 0 0 6 , 8 3 1 4496,570 3 2 5 3 , 9 4 1 2 6 2 6 , 7 4 2 9 0 3 8 , 1 8 9 2077,307 1094,677 2 2 2 52,412 2,507 3 , 0 9 2 2 / 14,998 -• — 3,773 50 4,769 2 , 6 7 2 2 , 3 0 6 7,336 1,991 1 , 3 1 0 1,991 2 , 6 7 2 5 , 223 — —— 106 —— —— 2,128 -• —— FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 27,319,231 1641,586 6,268,446 1814,117 2542,645 2083,489 1364,960 Collat. for F. R. notes: Gold certificate acct. 11,498,000 5 8 0 , 0 0 0 2,870,000 650,000 1090,000 845,000 500,000 Eligible paper —— — 32,245 ~— -—— 91,032 U. S. Govt, securities 1 6 , 9 8 5 , 0 0 0 1 2 0 0 , C O O 3 , 6 0 0 , 0 0 0 1 2 0 0 , 0 0 0 1 5 0 0 , 0 0 0 1 3 0 0 , Total collateral 28,574,032 1 7 8 0 , 0 0 0 6 , 4 7 0 , 0 0 0 1 8 8 2 , 2 4 5 2 5 9 0 , 0 0 0 2 1 4 5 , 0 0 0 1 5 0 0 , 0 0 0 1/ After deducting $205,632,000 participations of other Federal Reserve Banks. 2/ After deducting $37,414,000 participations of other Federal Reserve Banks. 17,513 38,750 2 5 , 9 6 0 33,8 1,307 2,i4o 8 , 7 0 8 19,646 5207,301 1215,671 554,761 1079,949 743,901 2802,40$ 2300,000 —— 0 0 0 1 0 0 0 5300,000 1 450,000 150,000 280,000 283,000 1500,000 23,100 —— 35,687 — — , 0 0 0 3000,000 9 0 0 , 0 0 0 460,000 8 0 0 , 0 0 0 373,100 610,000 1115,687 808,000 3000,000 ,
@FedFRASER